Chewy, Inc. · NYSE:CHWY
Chewy — Q3 2024 Earnings Presentation
14 slides from Chewy's earnings presentation, Dec 4, 2024
Slide 1: Q3 2024 Financial Results
Q3 2024 Financial Results December 4, 2024 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 160K $875M Sequential Net Active Capital Returned to Customer Adds Shareholders in FY241 Financial Metrics $567 80.0% $138M Net Sales Per Autoship Customer Sales Q3 24 Adj. EBITDA Active Customer2 as a % of Net Sales3 (4.8% Margin)4 (1) Represents executed share repurchases dur
Slide 4: Net Sales
Net Sales Full Year Quarterly ($ Millions) ($ Millions) $11,148 $11,440 $10,119 $8,967 $2,878 $2,859 $2,878 $2,746 $2,826 1 FY 21 FY 22 FY 23 LTM Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 % YoY Growth2 % YoY Growth 25.5% 12.8% 10.2% 3.7% 8.2% 4.2% 3.1% 2.6% 4.8% (1) "LTM" is defined as Last Twelve Months and re
Slide 5: Autoship Customer Sales
1 Autoship Customer Sales Full Year Quarterly ($ Millions) ($ Millions) $8,935 $8,493 $7,408 $6,324 $2,233 $2,242 $2,301 $2,116 $2,159 2 FY 21 FY 22 FY 23 LTM Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 % YoY Growth3 % YoY Growth 29.3% 17.1% 14.7% 7.2% 13.4% 8.1% 6.4% 5.8% 8.7% (1) We define Autoship customers as
Slide 6: Net Sales Per Active Customer (NSPAC)
1 Net Sales Per Active Customer (“NSPAC”) $555 $567 $544 $496 $434 FY 21 FY 22 FY 23 Q3 23 Q3 24 Active Customers2 (Millions) 20.7 20.4 20.1 20.3 20.2 (1) We define net sales per active customer (“NSPAC”) as the aggregate net sales for the preceding four fiscal quarters, divided by the total number
Slide 7: Gross Margin
Gross Margin Full Year Quarterly (%) (%) 29.2% 29.7% 29.5% 29.3% 28.4% 28.5% 28.0% 28.2% 26.6% 1 FY 21 FY 22 FY 23 LTM Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Gross Profit ($ Millions) Gross Profit ($ Millions) $2,385 $2,834 $3,162 $3,340 $782 $798 $854 $844 $844 (1) "LTM" is defined as Last Twelve Months and
Slide 8: Adjusted EBITDA
1 Adjusted EBITDA Full Year Quarterly ($ Millions) ($ Millions) $532 $163 $145 $368 $138 $307 $83 $86 $77 2 FY 21 FY 22 FY 23 LTM Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 % Margin1 % Margin1 0.9% 3.0% 3.3% 4.7% 3.0% 3.1% 5.7% 5.1% 4.8% (1) Adjusted ("Adj.") EBITDA and adjusted EBITDA margin are non-GAAP financ
Slide 9: Free Cash Flow
1 Free Cash Flow Full Year Quarterly ($ Millions) ($ Millions) $363 $343 $152 $91 $67 $119 $53 $48 $9 2 FY 21 FY 22 FY 23 LTM Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q3 FY24 Cash Balance: $508M3 (1) Free cash flow (“FCF”) is a non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional inform
Slide 10: Guidance
Guidance Fiscal Fourth Quarter 2024 $3.18 billion - $3.20 billion Net Sales Approximately 13% YoY growth Fiscal Year 2024 $11.79 billion - $11.81 billion Net Sales Approximately 6% YoY growth Adj. EBITDA Margin1 4.6% - 4.8% (1) Adjusted EBITDA Margin is a non-GAAP financial measure. See “Non-GAAP Fi
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA Margin To provide investors with additional information regarding our financial results, we have disclosed adjusted EBITDA, a non-GAAP financial measure that we calculate as net income excluding depreciation and amortization; share-base
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA Margin Because of these limitations, you should consider adjusted EBITDA and adjusted EBITDA margin alongside other financial performance measures, including various cash flow metrics, net income, net margin, and our other GAAP results.
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures Free Cash Flow To provide investors with additional information regarding our financial results, we also disclose free cash flow, a non-GAAP financial measure that we calculate as net cash provided by operating activities less capital expenditures (which consist of purcha
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