Revolve(RVLV) - 2024 Q4 - Annual Results

Financial Performance - Fourth quarter 2024 net sales reached $293.7 million, a 14% increase year-over-year from$ 257.8 million in Q4 2023[3] - Gross profit for Q4 2024 was $154.3 million, reflecting a 15% year-over-year increase[9] - Net income for Q4 2024 was$ 11.8 million, a significant increase of 237% compared to $3.5 million in Q4 2023[9] - Adjusted EBITDA for Q4 2024 was$ 18.3 million, up 114% from $8.5 million in the same quarter last year[9] - For the full year 2024, net sales totaled$ 1.13 billion, a 6% increase from $1.07 billion in 2023[12] - Gross profit for the year ended December 31, 2024, was$ 593,273,000, representing a 7.0% increase from $554,199,000 in 2023[41] - Net income attributable to stockholders for the year was$ 49.6 million, a significant increase from $28.1 million in 2023, representing a growth of 76.3%[35] - Free cash flow for the year ended December 31, 2024, was$ 26.7 million, down from $43.3 million in 2023, reflecting changes in working capital[39] Customer Metrics - Active customers increased to 2.668 million in Q4 2024, a 5% growth year-over-year[4] - Active customers reached 2,668, an increase from 2,543 in the previous year, indicating a growth of 4.9%[43] - Total orders placed in Q4 2024 were 2.172 million, representing a 7% increase from 2.022 million in Q4 2023[4] - Total orders placed increased to 2,172 for the three months ended December 31, 2024, up from 2,022 in 2023, marking a growth of 7.4%[43] Sales Breakdown - Domestic net sales for Q4 2024 were$ 236.6 million, an 11% increase year-over-year, while international net sales were $57.1 million, a 29% increase[9] - The United States accounted for$ 236,644,000 in net sales for the three months ended December 31, 2024, up from $213,658,000 in 2023, representing an increase of 10.7%[41] Operational Efficiency - Operating expenses for the year were$ 541.9 million, slightly up from $532.1 million in 2023, indicating controlled expense management[35] - The company expects gross margin for FY 2025 to be between 52.4% and 52.9%[11] - Gross margin improved to 52.5% for the three months ended December 31, 2024, compared to 52.0% in 2023[43] Strategic Initiatives - The company plans to continue expanding its product offerings and enhancing customer experience through strategic investments in technology and marketing[31] - The company repurchased$ 11.8 million worth of stock in 2024, with $57.6 million remaining under its stock repurchase program[18]