Stitch Fix Announces Second Quarter 2021 Financial Results

Credit Stitch Fix

 

Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, has released its financial results for the second quarter of fiscal year 2021 ended January 30, 2021, and posted a letter to its shareholders on its investor relations website.

 

• Net revenue of $504.1 million, an increase of 12% year over year
• Active clients of nearly 3.9 million, an increase of 408,000 or 12% year over year, and 110,000 clients quarter over quarter
• Net revenue per active client of $467, a decrease of 7% year over year
• Net loss of $21.0 million and diluted loss per share of $0.20
• Adjusted EBITDA loss of $8.9 million

Stitch Fix Founder and CEO Katrina Lake said, “In Q2, we delivered $504 million in net revenue, reflecting 12% year-over-year
growth, and grew our active client count to nearly 3.9 million, reflecting 12% year-over-year growth. In our first two quarters we had
more net active client additions than in our entire past fiscal year, and we delivered one of our strongest Januarys on record.

This level of demand for our model of personalized discovery and radical convenience positions us well to continue to capture share amidst the
ongoing shift in the retail landscape, and gives us confidence in our long-term opportunity. The fundamentals of our business are strong, we continue to expand our service in innovative new ways, and we are excited to continue to deliver on our strategy.”

 

Stitch Fix is an online personal styling service that is reinventing the shopping experience by delivering one-to-one personalization
to our clients through the combination of data science and human judgment. Stitch Fix was founded in 2011 by CEO Katrina Lake.
Since then, we’ve helped millions of women, men, and kids discover and buy what they love through personalized selections of
apparel, shoes, and accessories, curated by Stitch Fix stylists and algorithms.

 


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