NYSE$RVLV

Revolve Group Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Announced financial results for the first quarter ended March 31, 2022.

Revolve Group reported an exceptional start to the year with a 58% year-over-year increase in net sales, record quarterly growth in active customers, and record levels of net income and operating cash flow for any first quarter.

  • Net sales increased by 58% year-over-year.
  • Record quarterly growth in active customers.
  • Net income and operating cash flow reached record levels for a first quarter.
  • Customer engagement is stronger than ever.

Headline financials

Total Revenue

$283M

Previous: $179M+58.5%
EPS (adj)

$0.30

Previous: $0.30+0.0%
Gross Margin

54.5%

Previous: 54.0%+0.9%
Active Customers

2.0M

Previous: 1.5K+138085.5%
Total Orders Placed

2.2M

Previous: 1.3K+168074.7%
Average Order Value

$288.00

Previous: $256.00+12.5%
Adjusted EBITDA

$31.5M

Previous: $23.3M+35.1%
Capital Expenditures

-$1.07M

Previous: -$736K-45.4%
Free Cash Flow

$21.5M

Previous: $21.5M-0.1%
Net Income

$22.6M

Previous: $22.3M+1.4%
Operating Income

$28.5M

Previous: $21.2M+34.1%
Gross Profit

$154M

Previous: $96.7M+59.7%
Cash & Equivalents

$271M

Previous: $183M+47.9%
Total Assets

$571M

Previous: $369M+54.6%
Stock-Based Comp

$1.49M

Previous: $976K+52.8%

Revenue & EPS history

Revolve · Revenue · Quarterly

$283M

Q1 2022+58.5%vs Q1 2021
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Revolve · $238M total across 1 segment · Q1 2022

  • REVOLVE Segment
    $238M+56.2%

Forward guidance

The company expects the second quarter ending June 30, 2022 to be the largest sales quarter of the year. For the full year 2022, the company continues to expect the year-over-year growth rate to be highest in the first quarter of 2022 and lowest in the fourth quarter of 2022.

Tailwinds

  • Growth trajectory continued strong into the beginning of the second quarter of 2022.
  • Net sales in April 2022 growing more than 30% year-over-year.
  • Second quarter ending June 30, 2022 to be the largest sales quarter of the year.
  • Consumer excitement and anticipation regarding the return of festival season was a key driver of results.
  • Brands are truly resonating with next generation consumers globally across both the REVOLVE and FWRD segments.

Headwinds

  • Mindful of the macroeconomic, geopolitical and other uncertainties in the global markets.
  • Expects year-over-year growth rate to be lowest in the fourth quarter of 2022.
  • Continued impact of the COVID-19 pandemic on business, operations and financial results
  • Supply chain challenges
  • Inflation

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-0.5%

Avg return

Earnings day

-2.1%

Avg return

5 days after

-4.7%

Avg return

30 days after

38%

12 / 32 earnings

Positive

+31.7%

Q3 2024

Best reaction

-19.3%

Q4 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.0%-11.0%-17.6%
Q4 2025-5.4%-7.0%-15.4%
Q3 2025+12.2%+10.9%+30.0%
Q1 2025-9.6%+4.5%+17.6%
Q4 2024-5.0%-11.7%-21.4%
Q3 2024+31.7%+24.5%+43.1%
Q2 2024+30.8%+26.2%+21.2%
Q1 2024+4.6%+2.9%-13.5%
Q4 2023+25.8%+33.9%+24.7%
Q3 2023-2.9%-3.1%+5.9%
Q2 2023-7.5%-6.7%-21.3%
Q1 2023-7.8%-8.1%-17.6%
Q4 2022+1.1%+6.3%-1.2%
Q3 2022-3.4%-11.3%+20.5%
Q2 2022-8.2%+2.7%-19.1%
Q1 2022-16.0%-25.0%-29.6%
Q4 2021-1.6%-9.7%+3.4%
Q3 2021+6.2%+12.5%-9.0%
Q2 2021-17.4%-11.1%-17.8%
Q1 2021+9.8%-5.3%+6.7%
Q4 2020+8.3%+25.8%+20.4%
Q3 2020-3.8%-4.5%+10.2%
Q2 2020+27.6%+17.2%-4.8%
Q1 2019-8.4%-6.9%+3.2%
Q1 2020+3.0%-6.8%+4.3%
Q4 2017-19.3%-18.4%-57.0%
Q4 2019-11.0%-13.6%-51.3%
Q3 2019-16.9%-21.1%-14.9%
Q3 2018-16.9%-21.1%-14.9%
Q4 2018-1.4%-9.3%-4.1%
Q2 2018-1.4%-9.3%-4.1%
Q2 2019-12.9%-14.1%-25.9%
Q1 2018
Q3 2017
Q2 2017
Q1 2017

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