2024 Q4 Form 10-Q Financial Statement

#000157694224000133 Filed on December 11, 2024

View on sec.gov

Income Statement

Concept 2024 Q4
Revenue $318.8M
YoY Change -12.6%
Cost Of Revenue $174.0M
YoY Change -15.4%
Gross Profit $144.8M
YoY Change -8.99%
Gross Profit Margin 45.42%
Selling, General & Admin $153.8M
YoY Change -18.1%
% of Gross Profit 106.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.859M
YoY Change -50.24%
% of Gross Profit 4.74%
Operating Expenses $153.8M
YoY Change -18.1%
Operating Profit -$8.966M
YoY Change -68.72%
Interest Expense $2.932M
YoY Change 30.43%
% of Operating Profit
Other Income/Expense, Net -$72.00K
YoY Change -117.52%
Pretax Income -$6.106M
YoY Change -76.52%
Income Tax $157.0K
% Of Pretax Income
Net Earnings -$6.256M
YoY Change -82.37%
Net Earnings / Revenue -1.96%
Basic Earnings Per Share -$0.05
Diluted Earnings Per Share -$0.05
COMMON SHARES
Basic Shares Outstanding 126.0M shares
Diluted Shares Outstanding 126.0M shares

Balance Sheet

Concept 2024 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $137.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $119.1M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $392.5M
YoY Change -12.83%
LONG-TERM ASSETS
Property, Plant & Equipment $49.20M
YoY Change -31.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.783M
YoY Change 69.01%
Total Long-Term Assets $114.6M
YoY Change -34.04%
TOTAL ASSETS
Total Short-Term Assets $392.5M
Total Long-Term Assets $114.6M
Total Assets $507.1M
YoY Change -18.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $114.4M
YoY Change -12.98%
Accrued Expenses $69.35M
YoY Change -7.67%
Deferred Revenue $9.256M
YoY Change -13.51%
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $226.6M
YoY Change -16.37%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $606.0K
YoY Change -83.46%
Total Long-Term Liabilities $606.0K
YoY Change -83.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $226.6M
Total Long-Term Liabilities $606.0K
Total Liabilities $316.6M
YoY Change -19.5%
SHAREHOLDERS EQUITY
Retained Earnings -$473.5M
YoY Change 26.64%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $190.5M
YoY Change
Total Liabilities & Shareholders Equity $507.1M
YoY Change -18.74%

Cashflow Statement

Concept 2024 Q4
OPERATING ACTIVITIES
Net Income -$6.256M
YoY Change -82.37%
Depreciation, Depletion And Amortization $6.859M
YoY Change -50.24%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $4.323M
YoY Change 18.34%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$35.73M
YoY Change -488.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities -$35.73M
Cash From Financing Activities
Net Change In Cash -$25.71M
YoY Change -247.24%
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures $4.323M
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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STITCH FIX, INC.
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CY2024Q4 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
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CY2023Q4 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
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CY2024Q4 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-463000 usd
CY2023Q4 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-6119000 usd
CY2024Q4 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
0 usd
CY2023Q4 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
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CY2024Q4 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
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CY2023Q4 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
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CY2024Q4 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0 usd
CY2023Q4 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1895000 usd
CY2024Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-25709000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
17461000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
239437000 usd
CY2024Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
137153000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
256898000 usd
CY2024Q4 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
521000 usd
CY2023Q4 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
386000 usd
CY2024Q4 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
43000 usd
CY2023Q4 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1099000 usd
CY2024Q4 sfix Capitalized Share Based Compensation
CapitalizedShareBasedCompensation
824000 usd
CY2023Q4 sfix Capitalized Share Based Compensation
CapitalizedShareBasedCompensation
1303000 usd
CY2024Q4 us-gaap Nature Of Operations
NatureOfOperations
Description of Business<div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stitch Fix, Inc. (“we,” “our,” “us,” or “the Company”) is an online personal styling service that helps people discover the styles they will love that fit perfectly so they always look - and feel - their best. Clients engage with us by (1) receiving a curated shipment of items informed by our algorithms and chosen by a Stitch Fix Stylist (a “Fix”); or (2) purchasing directly from our website or mobile app based on an individualized assortment of outfit and item recommendations (“Freestyle”). Clients choose to schedule regular shipments or order a Fix on demand. Then, after receiving a Fix, they can purchase the items they want to keep and return the other items, if any. We are incorporated in Delaware and have operations in the United States. Previously, we also had operations in the United Kingdom (“UK”). During the first quarter of fiscal 2024, we ceased operations of our UK business and met the requirements to report the UK business as a discontinued operation for all periods presented.</span></div>
CY2024Q4 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and the accompanying footnotes.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant estimates and assumptions are used for inventory, stock-based compensation expense, income taxes, and revenue recognition. Actual results could differ from those estimates and such differences may be material to the condensed consolidated financial statements.</span></div>
CY2024Q4 us-gaap Deferred Income Current
DeferredIncomeCurrent
6296000 usd
CY2024Q3 us-gaap Deferred Income Current
DeferredIncomeCurrent
6749000 usd
CY2024Q4 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:6pt;margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risks</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are subject to concentrations of credit risk, principally from cash and cash equivalents and investment securities. The majority of our cash is held by one financial institution within the United States. Our cash balance held by this institution exceeds federally insured limits. The associated risk of concentration for cash is mitigated by banking with credit-worthy institutions. The associated risk of concentration for cash equivalents and investments is mitigated by maintaining a diversified portfolio of highly rated instruments.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">No client accounted for greater than 10% of total revenue, net for the three months ended November 2, 2024 or October 28, 2023.</span></div>
CY2024Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
115985000 usd
CY2024Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
135000 usd
CY2024Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000 usd
CY2024Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
116119000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest Before Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss
84012000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
107000 usd
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
13000 usd
CY2024Q3 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
84106000 usd
CY2024Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11288000 usd
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
13804000 usd
CY2024Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
8780000 usd
CY2024Q3 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
6967000 usd
CY2024Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
6780000 usd
CY2024Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
6583000 usd
CY2024Q4 sfix Accrued Shipping And Freight Current
AccruedShippingAndFreightCurrent
9620000 usd
CY2024Q3 sfix Accrued Shipping And Freight Current
AccruedShippingAndFreightCurrent
10998000 usd
CY2024Q4 sfix Accrued Accounts Payable Current
AccruedAccountsPayableCurrent
5719000 usd
CY2024Q3 sfix Accrued Accounts Payable Current
AccruedAccountsPayableCurrent
10607000 usd
CY2024Q4 sfix Accrued Inventory Purchases Current
AccruedInventoryPurchasesCurrent
16379000 usd
CY2024Q3 sfix Accrued Inventory Purchases Current
AccruedInventoryPurchasesCurrent
14473000 usd
CY2024Q4 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
7313000 usd
CY2024Q3 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
6417000 usd
CY2024Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3473000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3158000 usd
CY2024Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
69352000 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
73007000 usd
CY2024Q4 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
0 usd
CY2023Q4 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesBeforeReclassificationAdjustmentsTax
0 usd
CY2024Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
68600000 usd
CY2024Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
CY2024Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6106000 usd
CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-26002000 usd
CY2024Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
157000 usd
CY2023Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
169000 usd
CY2024Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.026
CY2023Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.007
CY2024Q4 sfix Common Stock Number Of Classes Authorized
CommonStockNumberOfClassesAuthorized
2 class
CY2024Q4 sfix Common Stock Conversion Ratio
CommonStockConversionRatio
1
CY2024Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6263000 usd
CY2023Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-26171000 usd
CY2024Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125972658 shares
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116645160 shares
CY2024Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125972658 shares
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116645160 shares
CY2024Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.05
CY2023Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.22
CY2024Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.05
CY2023Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.22
CY2024Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24488913 shares
CY2023Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24429372 shares
CY2024Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
120000000 usd

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