Revolve Group, Inc. · NYSE:RVLV
Revolve — William Blair Growth Stock Conference 2026
33 slides from Revolve's conference presentation, Jun 3, 2026
Slide 1: Revolve William Blair Growth Stock Conference
REVOLVE WILLIAM BLAIR GROWTH STOCK CONFERENCE JUNE 3, 2026 Exhibit 99.1
Slide 2: Note on Forward-Looking Statements
Note on Forward-Looking Statements This presentation contains forward-looking statements as defined within the meaning of U.S. federal securities laws. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “con
Slide 3: REVOLVE: A Leading Fashion Destination for the Next-Generation Consumer
3 REVOLVE: A Leading Fashion Destination for the Next-Generation Consumer REVOLVE is a founder-led, profitable fashion retailer and premium lifestyle brand built on data, community, and culture. We serve millions of next-generation consumers who trust REVOLVE for fashion discovery, inspiration, and
Slide 4: Compelling Investment Thesis
4 2 Proprietary Technology + AI-Powered Platform Creates a Durable Competitive Moat Proprietary tech and data-driven culture leverage AI to drive growth and efficiency across the enterprise 1 Powerful Brand and Marketing Engine Drives Global Consumer Demand Impactful marketing engine and outstanding
Slide 5: Two Complementary Retail Segments Benefitting from One Platform
5 REVOLVE 86% of net sales¹ 6.2M Instagram following² $279 Average order value³ BRANDS Emerging, established + owned brands KNOWN FOR Dresses and fashion apparel CURATION Highly curated REPRESENTATIVE BRANDS 14% of net sales¹ 1.0M Instagram following² $640 Average order value³ BRANDS Iconic + emergi
Slide 6: Large and Growing Market Opportunity
6 Large and Growing Market Opportunity Apparel, footwear, beauty and accessories¹ MARKET SIZE FAVORABLE MARKET DYNAMICS $722B U.S. Market 39% online $3.3T Global Market 26% online Online Physical Stores Significant runway for continued online penetration growth Online represents 39% of the U.S. mark
Slide 7: Key Metrics Driving Our Performance
7 Key Metrics Driving Our Performance ACTIVE CUSTOMERS¹ Trailing 12 months, in 000s 2.8M Active customers (2025) 13% CAGR · Meaningful growth potential NET SALES % AT FULL PRICE² Disclosed annually 82% Avg. % of net sales at full-price (2022–2025) Far outpacing industry 79% Avg. 2017–2021 → 82% Avg.
Slide 8: Our Customer-First Mindset Has Driven Incredible Customer Loyalty
8 Our Customer-First Mindset Has Driven Incredible Customer Loyalty SERVICE PROMISE CUSTOMER SATISFACTION EARNED CUSTOMER TRUST Pioneer of free shipping and hassle-free returns since day 1 “ Our customer's home is the dressing room. ✓ Free shipping on every U.S. order ✓ Hassle-free returns ✓ Very fa
Slide 9: Growing Mix of Tenured Customers Driving Increased Revenue Per Customer
Growing Mix of Tenured Customers is Driving Increased Revenue Per Customer and Retention Notes: We define pre-existing customers as customers in a year who have purchased from us in any prior year. Revenue retention (‘Cohort net sales retention rate’ as disclosed annually in the 10-K) is calculated
Slide 10: Years of Data and Technology — Built for This AI Moment
23 Years of Data and Technology — Built for This AI Moment 10 Business Built on Proprietary Technology and Custom Operational Systems from Day 1 Our proprietary technology stack is the operating foundation for nearly all aspects of our business Our co-founders had no fashion experience so we launche
Slide 11: AI Is Already Driving Measurable Results Across the Business
AI Is Already Driving Measurable Results Across the Business 11 AI-POWERED SEARCH (ON SITE) We developed AI search algorithms that drove a double-digit percentage lift in conversion rate and saved hundreds of thousands of dollars in vendor costs annually. AI-ENABLED VIRTUAL TRY ON Our AI virtual try
Slide 12: Long-Term Track Record of Healthy Top-Line Growth
12 Long-Term Track Record of Healthy Top-Line Growth NET SALES ANNUAL TREND $M $1.2B Net sales (2025) 13% 6-Year CAGR YOY NET SALES GROWTH, RECENT QUARTERLY TREND1 16% YoY Outpacing double-digit growth target Net sales growth (Q1 2026) Note: 1) We disclosed net sales growth for April 2026 concurrent
Slide 13: Consistent Profitability Enables Us to Reinvest in Growth
13 Consistent Profitability Enables Us to Reinvest in Growth NET INCOME $M $61M Net income (2025) Net income more than doubled in past two years ADJUSTED EBITDA1 35% YoY Second consecutive year of margin expansion Adj. EBITDA YoY growth (FY 2025) $M Note: 1) See the Appendix for a definition of Adju
Slide 14: Leading to Market Share Gains Over Many Years
Leading to Market Share Gains Over Many Years 14 2016 – 2025 net sales growth: REVOLVE vs. relevant benchmarks¹ (base year = 100) TOTAL MARKET 2% CAGR 100 → 121 ECOMMERCE MARKET 13% CAGR 100 → 310 REVOLVE 16% CAGR 100 → 393 REVOLVE gained ~14 percentage points of market share vs. total market and ~3
Slide 15: Progress Towards Our Medium-Term Financial Targets
15 Progress Towards Our Medium-Term Financial Targets 1 NET SALES GROWTH YOY On good path to achieve target in 2026 2 GROSS MARGIN1 +100 bps YoY in 2025 despite tariff pressure 3 ADJ. EBITDA MARGIN2 Strategic 2026 investments — Adj. EBITDA margin expansion expected in 2027 1) 2026 estimated gross ma
Slide 16: Cash Flow Generation Has Strengthened Our Balance Sheet
16 Cash Flow Generation Has Strengthened Our Balance Sheet Business model is highly capital efficient — capital expenditures have consistently averaged < 1% of net sales NET CASH FROM OPERATING ACTIVITIES $M $59M operating cash flow (2025) Consistently positive, > 2X YoY in 2025 FREE CASH FLOW¹ $M $
Slide 17: How We Think About Capital Allocation Priorities
17 How We Think About Capital Allocation Priorities CAPITAL ALLOCATION PRIORITIES CASH & CASH EQUIVALENTS ($M)1 In order of priority: #1 Invest back into the business #2 Thoughtfully evaluate M&A opportunities #3 Return of capital Cash is >4.5X in 6 years Increased focus on capital allocation with g
Slide 18: Investing in Three Growth Initiatives in 2026
18 Investing in Three Growth Initiatives in 2026 We Believe Could Be Game Changers 1 REVOLVE LOS ANGELES We launched our first-ever namesake label, supported by impactful multi-faceted marketing investments. REVOLVE LOS ANGELES First-ever REVOLVE namesake label launched in 2026 2 JOINT VENTURE WITH
Slide 19: Our Compensation is Aligned with Shareholder Interests
19 Our Compensation is Aligned with Shareholder Interests and Our Capital Allocation Priorities As founder operators, our key focus is to maximize stock value and earnings over the long term CEO COMPENSATION BENCHMARKS¹ $485K REVOLVE Co-CEO 2025 compensation vs. $5.1M peer group average Peer Benchma
Slide 20: Q1 2026 Results and Key Growth Drivers
REVOLVE Q1 2026 RESULTS AND KEY GROWTH DRIVERS
Slide 21: Encouraging Business Momentum Continued in Q1 2026
21 Encouraging Business Momentum Continued in Q1 2026 NET SALES $M +16% YoY Net sales growth in Q1 2026 Highest growth rate in nearly four years DILUTED EARNINGS PER SHARE +25% YoY Earnings per share growth in Q1 2026 FREE CASH FLOW $M $45M Free cash flow (Q1 2026)
Slide 22: FWRD Segment is Gaining Market Share
FWRD Segment is Gaining Market Share, Capitalizing on Challenges Affecting Luxury Retailers 22 Competitors Reducing Investment — Bankruptcies & Liquidations 2024 2025 2026 Distressed Sale Sold to Coupang headcount cut 50% Bankruptcy & Liquidation Bankruptcy & Liquidation Bankruptcy Equivalent Bankru
Slide 23: REVOLVE Key Growth Drivers
23 REVOLVE Key Growth Drivers 1 Increase Customer Base 2 Broaden Product Offering 3 Grow International Sales 4 Expand Owned Brand Mix of Net Sales 5 Invest in Physical Retail
Slide 24: Increase Customer Base: Significant Headroom for Customer Growth
24 Increase Customer Base: REVOLVE Has Significant Headroom for Customer Growth 2.9M REVOLVE active customers ~3% Penetrated in U.S. target market¹ 97% Of U.S. target market still to capture REVOLVE · 2.9M active customers Only ~3% of U.S. target market Even a modest increase in RVLV active customer
Slide 25: Broaden Our Product Offering
Broaden Our Product Offering: to Increase Loyalty and Expand Wallet Share Beauty Net Sales ($M) Dresses generate nearly 30% of net sales – meaningful opportunities to expand across new categories EXPANSION OPPORTUNITY IN KEY GROWTH AREAS Note: 1) Data source for premium department stores is Nordstro
Slide 26: Grow International Sales
26 Grow International Sales: Still Early in Capitalizing on Int’l Opportunity 1 INTERNATIONAL MIX OF NET SALES1 REVOLVE int’l mix is ~1/4 of total market int’l mix 2 INTERNATIONAL NET SALES MIX TREND International mix of net sales has steadily increased in recent years +4 pts in 3 years 3 CHINA IS K
Slide 27: Expand our Owned Brand Mix of Net Sales
Expand our Owned Brand Mix of Net Sales: Drives Exclusivity and Margins Owned Brand Mix of REVOLVE Segment Net Sales Grew ~2 Pts YoY in 2025 REVOLVE LOS ANGELES CHINA collaboration Owned Brands generate significantly higher gross margins than third party brands EAVES 27 1 NEW BRANDS Leverage data to
Slide 28: Invest in Physical Retail
Invest in Physical Retail: an Exciting Growth Driver Longer Term Note: 1) Euromonitor estimates of total market for apparel, footwear, beauty and accessories products, as of November 2025. 28 1 EARLY PROOF POINTS FROM OUR FIRST 2 RETAIL STORES Significant source of new customers Much higher owned br
Slide 29: Compelling Investment Thesis
29 2 Proprietary Technology + AI-Powered Platform Creates a Durable Competitive Moat Proprietary tech and data-driven culture leverage AI to drive growth and efficiency across the enterprise 1 Powerful Brand and Marketing Engine Drives Global Consumer Demand Impactful marketing engine and outstandin
Slide 30: Appendix: Definitions and Reconciliations
PAGE 1 PAGE 30 APPENDIX: DEFINITIONS AND RECONCILIATIONS REVOLVE
Slide 31: Non-GAAP to GAAP Reconciliation – Adjusted EBITDA
Non-GAAP to GAAP Reconciliation – Adjusted EBITDA 2023 2024 2025 Q1 2025 Q1 2026 NET INCOME $28.1 $48.8 $61.1 $11.4 $13.8 (+) OTHER EXPENSE (INCOME), NET (15.6) (13.0) (8.0) (0.9) (2.7) (+) PROVISION FOR INCOME TAXES 9.6 15.7 21.2 4.2 4.7 (+) DEPRECIATION AND AMORTIZATION 5.1 4.4 4.6 1.0 1.3 (+) EQU
Slide 32: Non-GAAP to GAAP Reconciliation – Free Cash Flow
Non-GAAP to GAAP Reconciliation – Free Cash Flow 2019 2020 2021 2022 2023 2024 2025 NET CASH PROVIDED BY OPERATING ACTIVITIES $46.1 $73.8 $62.3 $23.4 $43.3 $26.7 $59.4 PURCHASES OF PROPERTY AND EQUIPMENT (12.5) (2.3) (2.2) (5.2) (4.2) (5.6) (11.4) PURCHASES OF RENTAL PRODUCT, NET OF PROCEEDS FROM SA
Slide 33: Metrics Definitions
Metrics Definitions Free Cash Flow is a non-GAAP financial measure that we calculate as net cash provided by operating activities less cash used in purchases of property and equipment, and purchases of rental product, net of proceeds from the sale of rental product. We view free cash flow as an impo
Revolve Group — William Blair Growth Stock Conference 2026 on 6ix