Stitch Fix (SFIX) Misses Q4 EPS by 28c, Revenues Beat

Stitch Fix (NASDAQ: SFIX) reported Q4 EPS of ($0.44), $0.28 worse than the analyst estimate of ($0.16). Revenue for the quarter came in at $443.4 million versus the consensus estimate of $414.31 million.

Fourth quarter highlights*

• Net revenue of $443.4 million, an increase of 11% year over year on an adjusted basis
• Active clients of 3.5 million, an increase of 9% year over year
• Net revenue per active client of $486, an increase of 2% year over year on an adjusted basis
• Net loss of $44.5 million
• Adjusted EBITDA ex. SBC of $11.8 million
• Diluted loss per share of $0.44

“I'm very pleased with our strong Q4 results and our return to topline growth. We grew active clients to 3.5 million, an increase of 9% year over year, and generated $443 million in net revenue, reflecting 11% adjusted year-over-year growth,” said Stitch Fix founder and CEO Katrina Lake. “I'm proud of our team for successfully navigating through the deepest impacts of COVID-19 and am excited to bring our model of an individual and deeply personalized shopping experience to even more consumers as they transition to a future of online shopping.”

Stitch Fix President Elizabeth Spaulding added, “We’re particularly excited by the momentum of our direct buy offering. It’s still early days, but the ability to shop personalized items and outfits in our feed-based experience is clearly resonating with our clients. Our styling algorithms combined with input from our talented stylists, and the network effects of nearly 10 years of shopping data are enabling clients to now shop via direct buy without ever having purchased something from us in the past. Encouraged by its early success, we plan to expand the offering to give existing clients more reasons to engage with us, and give new-to-Stitch Fix customers the opportunity to experience the magic of online personal styling through direct buy.”

For earnings history and earnings-related data on Stitch Fix (SFIX) click here.

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