Chewy, Inc. · NYSE:CHWY
Chewy — Q3 2025 Earnings Presentation
15 slides from Chewy's earnings presentation, Dec 10, 2025
Slide 1: Q3 2025 Financial Results
Q3 2025 Financial Results December 10, 2025 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This communication contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this communication, including statements regarding our share repurchase
Slide 3: Key Recent Highlights
Key Recent Highlights 250K $55M Net Sequential Active Capital Returned to Customer Adds Shareholders in Q3 251 Financial Metrics $595 84% $181M Net Sales Per Autoship Customer Sales Q3 25 Adj. EBITDA Active Customer2 as a % of Net Sales3 (5.8% Margin)4 (1) Represents executed share repurchases durin
Slide 4: Net Sales
Net Sales Full Year Quarterly ($ Millions) ($ Millions) $12,584 $11,861 $11,148 $3,247 $3,116 $3,104 $3,117 $10,119 $2,878 1 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 FY 22 FY 23 FY 24 LTM % YoY Growth % YoY Growth 12.8% 10.2% 6.4% 10.0% 4.8% 14.9% 8.3% 8.6% 8.3% (1) "LTM" is defined as Last Twelve Months and r
Slide 5: Autoship Customer Sales
Autoship Customer Sales1 Full Year Quarterly ($ Millions) ($ Millions) $10,371 $9,393 $8,493 $7,408 $2,617 $2,563 $2,577 $2,614 $2,301 2 FY 22 FY 23 FY 24 LTM Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 % YoY Growth % YoY Growth 17.1% 14.7% 10.6% 16.1% 8.7% 21.2% 14.8% 14.9% 13.6% (1) We define Autoship customers
Slide 6: Net Sales Per Active Customer ("NSPAC")
Net Sales Per Active Customer (“NSPAC”)1 $579 $595 $555 $567 $496 FY 22 FY 23 FY 24 Q3 24 Q3 25 Active Customers2 (Millions) 20.4 20.1 20.5 20.2 21.2 (1) We define net sales per active customer (“NSPAC”) as the aggregate net sales for the preceding four fiscal quarters, divided by the total number o
Slide 7: Gross Margin
Gross Margin Full Year Quarterly (%) (%) 30.4% 29.6% 29.6% 29.8% 29.2% 29.3% 28.4% 28.5% 28.0% 1 FY 22 FY 23 FY 24 LTM Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Gross Profit ($ Millions) Gross Profit ($ Millions) $2,834 $3,162 $3,468 $3,720 $844 $926 $924 $942 $928 (1) "LTM" is defined as Last Twelve Months and
Slide 8: Adjusted EBITDA
Adjusted EBITDA1 Full Year Quarterly ($ Millions) ($ Millions) $682 $193 $183 $181 $571 $138 $125 $368 $307 2 FY 22 FY 23 FY 24 LTM Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 % Margin1 % Margin1 3.0% 3.3% 4.8% 5.4% 4.8% 3.8% 6.2% 5.9% 5.8% (1) Adjusted ("Adj.") EBITDA and adjusted EBITDA margin are non-GAAP fina
Slide 9: Free Cash Flow
Free Cash Flow1 Quarterly Full Year ($ Millions) ($ Millions) $176 $157 $152 $488 $452 $343 $106 $49 $119 FY 22 FY 23 FY 24 LTM 2 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q3 FY25 Cash Balance: $675M (1) Free cash flow (“FCF”) is a non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional inf
Slide 10: Guidance
Guidance Fiscal Year 2025 Net Sales $12.58 billion - $12.60 billion Adj. EBITDA Margin1 5.6% - 5.7% Fiscal Fourth Quarter 2025 Net Sales $3.24 billion - $3.26 billion Adj. Diluted EPS1 $0.24 - $0.27 (1) Adjusted ("Adj.") EBITDA Margin and adjusted ("Adj.") diluted earnings per share ("EPS") are non-
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures To provide investors with additional information regarding our financial results, we have disclosed the following non-GAAP financial measures: • Adjusted EBITDA: defined as net income (the most comparable GAAP financial measure) excluding depreciation and amortization; sh
Slide 12: Non-GAAP Financial Measures: Adjusted EBITDA
Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA Margin The following table presents a reconciliation of net income to adjusted EBITDA, as well as the calculation of net margin and adjusted EBITDA margin, for each of the periods indicated: (in millions, except percentages) Fiscal Quar
Slide 13: Non-GAAP Financial Measures: Adjusted Net Income
Non-GAAP Financial Measures Adjusted Net Income and Adjusted Basic and Diluted Earnings per Share The following table presents a reconciliation of net income to adjusted net income, as well as the calculation of adjusted basic and diluted earnings per share, for each of the periods indicated: (in mi
Slide 14: Non-GAAP Financial Measures: Free Cash Flow
Non-GAAP Financial Measures Free Cash Flow The following table presents a reconciliation of net cash provided by operating activities to free cash flow for each of the periods indicated: (in millions) Fiscal Quarter Ended LTM (1) Fiscal Year Reconciliation of Net Cash Provided by Operating November
Slide 15: chewy
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