Revolve Group (NYSE: RVLV) reported Q3 EPS of $0.27, $0.13 better than the analyst estimate of $0.14. Revenue for the quarter came in at $151.04 million versus the consensus estimate of $158.2 million.

“Strong execution on our merchandising and operational initiatives led to another quarter of record results. Despite the challenging backdrop and short-term pressures, we continued to drive efficiencies throughout the business in the third quarter, leading to higher margins and record profitability,” said co-founder and co-CEO Mike Karanikolas. “Our efforts resulted in record net income of $19 million, exceptional operating cash flows of $14 million, and record Adjusted EBITDA of $24 million, which increased 66% year-over-year. A key driver of our significantly increased profitability was our highest-ever gross margin for a third quarter, which reflects a high percentage of net sales at full price and improved inventory dynamics.”

“Our strong results underscore the power of our brand, the strength of our business, and most importantly, the incredible execution of our team,” said co-founder and co-CEO Michael Mente. “We achieved the strong profitability while continuing to invest in key initiatives to maximize our growth potential over the long term, such as elevating our international service levels, further innovation in broadening our marketing playbook, and category expansion within our Owned Brands.”

For earnings history and earnings-related data on Revolve Group (RVLV) click here.