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Stitch Fix, Inc. (SFIX) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, July 30, 2022

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  • 10-K Annual Report September 2022
  • 10-K Annual Report September 2021
    10-K Annual Report September 2020
    10-K Annual Report October 2019
    10-K Annual Report October 2018

Stitch Fix, Inc.

CIK: 1576942 Ticker: SFIX
Exhibit 99.1

stitchfixearningsreleimga05a.gif

Stitch Fix Announces Fourth Quarter and Fiscal Year 2022 Financial Results

SAN FRANCISCO, September 20, 2022 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the trusted online personal stylist, today announced its financial results for the fourth quarter and fiscal year 2022 ended July 30, 2022.
Stitch Fix CEO Elizabeth Spaulding said, “This year marked an important moment in Stitch Fix’s history. We launched Freestyle, which combined with our original Fix offering, broadens our ecosystem and expands our total addressable market.”
Spaulding added, “Today’s macroeconomic environment and its impact on retail spending has been a challenge to navigate, but we remain committed to working through our transformation and returning to profitability. We are also capitalizing on every customer touchpoint to build long-term relationships and reignite net active client growth. Even in retail’s dynamism, our core differentiators — fit, discovery, and human relationships — remain as relevant as ever, and will further cement our place as the global destination for personalized online shopping and styling.”
Fourth Quarter Key Metrics and Financial Highlights
Net revenue of $481.9 million, a decrease of 16% year over year
Active clients of 3,795,000, a decrease of 370,000 or 9% year over year
Net revenue per active client (RPAC) of $546, an increase of 8% year over year
Net loss of $96.3 million and diluted loss per share of $0.89
Adjusted EBITDA loss of $31.8 million
Full Year Key Metrics and Financial Highlights
Net revenue of $2.1 billion, a decrease of 1.4% year over year
Net loss of $207.1 million and diluted loss per share of $1.90
Adjusted EBITDA loss of $19.5 million
Financial Outlook
Our financial outlook for the first quarter of fiscal 2023, which ends on October 29, 2022, is as follows:
Q1’23
Net Revenue$455 million - $465 million(22)% - (20)% YoY decline
Adjusted EBITDA$(15) million - $(10) million(3)% - (2)% margin
For the fiscal year ending July 29, 2023, we expect net revenue to be between $1.76 billion and $1.86 billion, and adjusted EBITDA to be between $(45) million and $(25) million.
Stitch Fix has not reconciled its Adjusted EBITDA outlook to GAAP Net income (loss) because it does not provide an outlook for GAAP Net income (loss) due to the uncertainty and potential variability of other expense, net, income tax provision (benefit), and stock-based compensation expense, which are reconciling items between Adjusted EBITDA and GAAP Net income (loss). Because Stitch Fix cannot reasonably predict such items, a reconciliation of the non-GAAP financial measure outlook to the corresponding GAAP measure is not available without unreasonable effort. We caution, however, that such items could have a significant impact on the calculation of GAAP Net income (loss). For more information regarding the non-GAAP financial measures discussed in this release, please see “Non-GAAP Financial Measures” below.


The following information was filed by Stitch Fix, Inc. (SFIX) on Tuesday, September 20, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Stitch Fix, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flow
Consolidated Statements Of Operations And Comprehensive Loss
Consolidated Statements Of Stockholders' Equity
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Details)
Credit Agreement
Credit Agreement (Details)
Description Of Business
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Fair Value Of Available-For-Sale Securities (Details)
Fair Value Measurements - Fair Value Of Available-For-Sale Securities By Contractual Maturity (Details)
Fair Value Measurements - Schedule Of Financial Instruments Measured At Fair Value On Recurring Basis Based On Fair Value (Details)
Fair Value Measurements - Unrealized Loss On Investments (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Components Of Net Deferred Tax Assets (Details)
Income Taxes - Components Of Net Income (Loss) (Details)
Income Taxes - Components Of The Provision For Income Tax Expense (Details)
Income Taxes - Reconciliation Of Effective Tax Rate To The Statutory Federal Rate (Details)
Income Taxes - Summary Of Valuation Allowance (Details)
Income Taxes - Uncertain Tax Positions (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Schedule Of Maturities Of Operating Lease Liabilities (Details)
Leases - Summary Of Lease Components (Details)
Leases - Supplemental Cash Flows Information (Details)
Loss Per Share Attributable To Common Stockholders
Loss Per Share Attributable To Common Stockholders (Details)
Loss Per Share Attributable To Common Stockholders (Tables)
Loss Per Share Attributable To Common Stockholders - Common Stock Equivalents Excluded From Computation Of Diluted Loss Per Share (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Details)
Restructuring
Restructuring (Tables)
Restructuring - Components Of Restructuring Charges (Details)
Restructuring - Narrative (Details)
Restructuring - Restructuring Charges Rollforward (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Details)
Significant Accounting Policies - Estimated Useful Lives Of Assets (Details)
Significant Accounting Policies - Summary Of Contractual Liabilities And Revenue Recognized (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Black-Scholes Option Pricing Model Assumptions (Details)
Stock-Based Compensation - Restricted Stock Units (Details)
Stock-Based Compensation - Shares Available For Grant And Stock Option Activity (Details)
Ticker: SFIX
CIK: 1576942
Form Type: 10-K Annual Report
Accession Number: 0001576942-22-000077
Submitted to the SEC: Wed Sep 21 2022 5:22:02 PM EST
Accepted by the SEC: Wed Sep 21 2022
Period: Saturday, July 30, 2022
Industry: Retail Catalog And Mail Order Houses

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