Slide 1: Q4 2024 Financial Results
Q4 2024 Financial Results March 26, 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 431K $943M Capital Returned to FY24 Active Customer Net Adds Shareholders in FY241 Financial Metrics $578 80.6% $571M Net Sales Per Active Q4 24 Autoship Customer FY24 Adj. EBITDA4 4.8% Adj. EBITDA Margin4 Customer2 Sales as a % of Net Sales3 (+150 bps YoY)5 (1) Represents exec
Slide 4: Net Sales
Net Sales Full Year Quarterly ($ Millions) ($ Millions) $11,861 $11,148 $10,119 $3,247 $8,967 $2,826 $2,878 $2,859 $2,878 2 2 FY 21 FY 22 FY 23 FY24 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 % YoY Growth1 % YoY Growth 25.5% 12.8% 10.2% 6.4% 4.2% 3.1% 2.6% 4.8% 14.9% (1) Consistent with the Company's Annual Repo
Slide 5: Autoship Customer Sales
1 Autoship Customer Sales Full Year Quarterly ($ Millions) ($ Millions) $9,393 $8,493 $7,408 $6,324 $2,617 $2,233 $2,242 $2,301 $2,159 3 3 FY 21 FY 22 FY 23 FY24 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 % YoY Growth2 % YoY Growth 29.3% 17.1% 14.7% 10.6% 8.1% 6.4% 5.8% 8.7% 21.2% (1) We define Autoship customer
Slide 6: Net Sales Per Active Customer (NSPAC)
1 Net Sales Per Active Customer (“NSPAC”) $578 $555 $496 $434 3 FY 21 FY 22 FY 23 FY24 Active Customers2 (Millions) 20.7 20.4 20.1 20.5 (1) We define net sales per active customer (“NSPAC”) as the aggregate net sales for the preceding four fiscal quarters, divided by the total number of active custo
Slide 7: Gross Margin
Gross Margin Full Year Quarterly (%) (%) 29.2% 29.7% 29.5% 29.3% 28.4% 28.5% 28.0% 28.2% 26.6% FY 21 FY 22 FY 23 FY24 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Gross Profit ($ Millions) Gross Profit ($ Millions) $2,385 $2,834 $3,162 $3,468 $798 $854 $844 $844 $926 6
Slide 8: Adjusted EBITDA
1 Adjusted EBITDA Full Year Quarterly ($ Millions) ($ Millions) $571 $163 $145 $138 $368 $125 $307 $86 $77 FY 21 FY 22 FY 23 FY24 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 % Margin1 % Margin1 0.9% 3.0% 3.3% 4.8% 3.1% 5.7% 5.1% 4.8% 3.8% (1) Adjusted ("Adj.") EBITDA and adjusted EBITDA margin are non-GAAP financ
Slide 9: Free Cash Flow
1 Free Cash Flow Full Year Quarterly ($ Millions) ($ Millions) $452 $157 $152 $343 $91 $67 $53 $119 $9 FY 21 FY 22 FY 23 FY24 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q4 FY24 Cash Balance: $597M2 (1) Free cash flow (“FCF”) is a non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional inform
Slide 10: Guidance
Guidance Fiscal First Quarter 2025 $3.06 billion - $3.09 billion Net Sales Approximately 6 to 7% YoY growth Adj. Diluted EPS1 $0.30 - $0.35 Fiscal Year 2025 $12.30 billion - $12.45 billion Net Sales Approximately 6 to 7% YoY growth2 Adj. EBITDA Margin1 5.4% - 5.7% (1) Adjusted ("Adj.") EBITDA Margin
Slide 11: Non-GAAP Financial Measures: Adjusted EBITDA and Margin
Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA Margin To provide investors with additional information regarding our financial results, we have disclosed in this communication adjusted EBITDA, a non-GAAP financial measure that we calculate as net income excluding depreciation and am
Slide 12: Non-GAAP Financial Measures: Adjusted EBITDA Reconciliation
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 thousands, except percentages) Fiscal Qua
Slide 13: Non-GAAP Financial Measures: Adjusted Net Income and EPS
Non-GAAP Financial Measures Adjusted Net Income and Adjusted Basic and Diluted Earnings per Share To provide investors with additional information regarding our financial results, we have disclosed in this communication adjusted net income and adjusted basic and diluted earnings per share, which rep
Slide 14: Non-GAAP Financial Measures: Adjusted Net Income Reconciliation
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 th
Slide 15: Non-GAAP Financial Measures: Free Cash Flow
Non-GAAP Financial Measures Free Cash Flow To provide investors with additional information regarding our financial results, we also disclose in this communication free cash flow, a non-GAAP financial measure that we calculate as net cash provided by operating activities less capital expenditures (w
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