Stitch Fix Reports Q4 and FY2021 Financial Results

Sep 22, 2021 By MarketDepth

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Stitch Fix, Inc. (NASDAQ: SFIX) released its Fourth Quarter and Full Fiscal Year 2021 financial results after the market closed on September 21st. 

Up Premarket

SFIX gained 12.8% in premarket trading.

29% Increase in Revenue

Stitch Fix reported net revenues of $571.2 million in the fourth quarter, an increase of 29% year over year. Its net revenue per active client grew 4% year over year to $505. The company’s number of active clients also grew by 643,000, pushing its total number of active clients to 4,165,000 in the fourth quarter of 2021. The company also reported a net income of $21.5 million and diluted earnings per share of $0.19 with an adjusted EBITDA of $55.4 million.

Net Loss

For the Full Fiscal Year 2021, the company reported a net loss of $8.9 million and a diluted loss per share of $0.08, despite its net revenue growing 22.8% year over year to $2.1 billion. Its adjusted EBITDA for Fiscal 2021 was $64.9 million.

Stitch Fix CEO Elizabeth Spaulding said, “In Q4 we delivered $571 million in net revenue, reflecting 29% year-over-year growth, helping us cross $2 billion in annual net revenue for the first time. These results reflect strong performance across our business, in Women’s, Kids and the U.K.”