Did Stitch Fix beat or miss consensus estimates last quarter?

What were the key takeaways from Stitch Fix's earnings call?

What is the revenue and EPS growth rate for Stitch Fix year over year?

What were the key takeaways from Stitch Fix’s earnings call?

What is Stitch Fix's gross profit margin?

What does Stitch Fix do and what are its main business segments?

What factors drove the changes in Stitch Fix's revenue and profit?

What guidance did Stitch Fix's management provide for the next earnings period?

- **Revenue Record**: $341.3M (+9.4% YoY), highest Revenue per Active Client ($577) and Fix AOV growth (9.8% YoY). 
- **Client Engagement**: 2.3M active clients, new clients up YoY for 2nd quarter, 3-month LTV +5% YoY. 
- **Category Growth**: Activewear +37%, footwear +33%, private brands +35%+. 
- **Profitability**: EBITDA $15.9M (4.7%), 8th quarter >30% contribution margin. 
- **Guidance**: Full year 2026 revenue $1.33-1.35B, EBITDA $42-50M. 
- **AI Success**: Vision feature lifts Freestyle sales 100%+ over 90 days, 75% client retention rate.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 revenue of $341.3M, up 9.4% YoY, driven by 10th consecutive quarter of Fix AOV growth (9.8% YoY) and record Revenue per Active Client ($577). 
- **Client Engagement**: Active clients reached 2.3M, with new clients growing YoY for 2nd consecutive quarter. 3-month LTV for new clients up 5% YoY, highest in 3 years. 
- **AI & Experience**: AI-powered tools like Vision boosted Freestyle sales 100%+ over 90 days. Themed Fixes and larger Fixes (8+ items) saw AOV nearly double traditional 5-item fixes. 
- **Category Growth**: Activewear/athleisure +37%, outerwear +26%, footwear +33%, accessories +51%. Private brands (e.g., Market & Spruce) grew >35% YoY. 
- **Market Share**: Outperformed U.S. apparel market (-0.5% YoY) with 9.4% revenue growth, capturing $1B+ incremental opportunity in strategic categories.

**【CFO Financial Commentary】**
- **Profitability**: Adjusted EBITDA of $15.9M (4.7% margin), up from $12.3M last quarter. Contribution margin >30% for 8th straight quarter. 
- **Guidance**: Full year 2026 revenue $1.33-1.35B (up from prior $1.31-1.34B), EBITDA $42-50M. Q3 revenue $330-335M, EBITDA $7-10M. 
- **Cost Management**: Advertising 8.5% of revenue (vs. 9-10% guide), inventory up 11.4% YoY to $122.1M. 
- **Leverage**: 8th consecutive quarter of >30% contribution margin, with focus on disciplined client acquisition and margin preservation.

**【Q&A Highlights】**
- **Consumer Trends**: Strong demand across income cohorts, with 50% YoY growth in new styles. Clients using GLP-1 medications tripled mentions of weight loss in Fix requests. 
- **Client Growth**: Sequential net adds expected in Q3, driven by reduced dormancy and reengaged clients (+2Q YoY). 90-day LTV up 5% YoY for 10th straight quarter. 
- **Revenue Deceleration**: Q3-Q4 2026 AOV growth expected 4-6% vs. 10-12% last year, due to tougher comps and macro cautiousness. 
- **Assortment Strategy**: $1B+ opportunity in activewear, athleisure, footwear, accessories. 75% of clients return to use Vision feature. 
- **Macro Resilience**: Outperformed U.S. apparel market (-0.5% YoY) with 9.4% growth, benefiting from sticky client relationships and broad assortment.

Stitch Fix, Inc.(SFIX)-20260312-2026 Q2 Earnings call transcript

- **Revenue Beat**: $342.1M (+7.3% YoY), AOV +9.6%, 2.3M active clients (high end of guide). 
- **AI Growth**: Generative tools drive 92% women's clients gifting via family accounts, 17% LTV growth.
- **Guidance Raise**: FY26 rev $1.32-1.35B, EBITDA $38-48M (vs prior $1.28-1.32B). 
- **Margin Resilience**: 43.6% GM, 32.5% contrib margin, $244M cash for reinvestment.
- **Client Engagement**: 92% women's clients shop for spouses, 8% reengaged client growth, lowest dormancy in 5 years.

**【CEO Summary Section】**
- **Revenue Growth**: Q1 2026 revenue of $342.1M, up 7.3% YoY, driven by 9.6% AOV increase (more items per fix, higher AUR). 
- **Client Engagement**: 2.3M active clients (high end of guidance), 3-month LTV up 17% YoY, 8% reengaged client growth. Men's business returns to sequential active client growth.
- **AI Innovation**: Generative AI tools like Vision and Style Assistant boost engagement, with 92% women's clients shopping for spouses via family accounts.
- **Market Share**: Outpacing Circana's 1% US apparel market growth, capturing $1B+ potential in non-apparel categories.

**【CFO Financial Commentary】**
- **Profitability**: Q1 Adjusted EBITDA $13.4M (3.9% margin), up from $10.2M FY25. Full year guidance raised to $1.32-1.35B rev, $38-48M EBITDA.
- **Gross Margin**: 43.6% (43-44% FY26 target), offset by 180bps decline vs FY25 (transportation, category mix, tariffs).
- **Liquidity**: $244.2M cash, no debt. Q2 rev $335-340M, EBITDA $10-13M.

**【Q&A Highlights】**
- **Client Quality**: 9 consecutive qtrs of improving LTV, but FY26 faces tougher AOV comps. 
- **Gross Margin Drivers**: Transportation (+180bps), but 32.5% contribution margin resilience.
- **AI ROI**: Vision adoption exceeds expectations, 92% women's clients gifting via family accounts.
- **Sustainability**: 100%+ free cash flow positive FY26, disciplined marketing (9.9% ad spend).

Stitch Fix, Inc. (SFIX) Q1 2026 Earnings Call Transcript

- **Revenue Recovery**: Q4 2025 adjusted revenue up 4.4% YoY to $311.2M, with AOV growth of 12% YoY driven by larger Fixes and trend-right styles.
- **AI-Driven Innovation**: Launched AI style assistant and Vision feature, boosting client engagement and order values.
- **FY '26 Outlook**: Guided to $1.28B-$1.33B revenue, with EBITDA margin expansion and free cash flow positivity.
- **Client Retention**: Active client 90-day LTVs at 3-year highs, with 5 consecutive quarters of improving YoY growth rates.
- **Holiday Growth**: Family Accounts and AI personalization to capitalize on gifting and event-driven demand.

**【Management Opening Remarks】**
- Cherryl Valenzuela provided context on the 53-week fiscal year adjustment and highlighted the importance of non-GAAP measures for comparison.
- Forward-looking statements were noted, emphasizing the exclusion of extra week impacts in revenue growth comparisons.

**【CEO Summary Section】**
- **Q4 2025 Results**: Adjusted revenue grew 4.4% YoY to $311.2M, exceeding guidance. AOV increased 12% YoY, driven by larger Fixes and 7.6% AUR growth.
- **Client Engagement**: Active client count declined 7.9% YoY but showed 5 consecutive quarters of improving YoY growth rates. RPAC rose 3% YoY to $549.
- **Strategic Initiatives**: Rolled out AI style assistant, Vision feature, Stylist Connect, and Family Accounts to enhance personalization and convenience.
- **FY '26 Outlook**: Anticipates full-year revenue growth, improving active client growth, and disciplined reinvestment in growth levers.

**【CFO Financial Commentary】**
- **FY '25 Financials**: Revenue $1.27B (down 3.7% adjusted YoY). Gross margin 44.4% (highest since FY '21). Adjusted EBITDA $49.1M (3.9% margin, +170bps YoY). Free cash flow $9.3M.
- **Cost Optimization**: Reduced SG&A by $124M YoY, achieving 47.5% of sales vs. 53.1% in FY '22. Transportation cost management offset tariff impacts.
- **Q4 2025 Metrics**: Gross margin 43.6% (down 100bps YoY). Advertising 9.5% of revenue. Inventory up 20.9% YoY to $118.4M.
- **FY '26 Guidance**: Revenue $1.28B-$1.33B. EBITDA $30M-$45M. Gross margin 43%-44%. Free cash flow positive.

**【Q&A Highlights】**
- **Growth Drivers**: Women's footwear (+35%), men's double-digit growth, and non-apparel expansion (e.g., Varley, GOAT USA).
- **Tariff Impact**: Mitigated through supplier negotiations; no AOV impact in Q4.
- **Market Share**: Gained share via superior service, evidenced by 3-year high new client LTVs.
- **Holiday Strategy**: Family Accounts, themed Fixes, and AI-driven personalization to drive gifting and event-driven sales.
- **Client Trends**: Active client net adds expected to improve Q3 '26, with Q1 '26 flat to -0.5% sequential decline.


Stitch Fix, Inc. (SFIX) Q4 2025 Earnings Call Transcript

- **Revenue Growth Resumes**: Q3 revenue up 0.7% YoY to $325M, with Women's and Fix channels returning to growth.
- **AOV Surges**: 10% YoY increase, 7th consecutive quarter, driven by larger Fix offerings (up to 8 items).
- **Client Quality Improves**: New client LTVs highest in 3 years, active client sequential decline lowest in 3 years.
- **FY25 Guidance Raised**: Revenue $1.254B-$1.259B, EBITDA $43M-$47M, with Q4 revenue up 4.1% QoQ.
- **Tariff Risk Mitigated**: 30%+ private brand portfolio, no FY25 price hikes, multi-brand flexibility.

**【CEO Summary Section】**
- **Revenue Growth Resumes**: Q3 revenue reached $325 million, up 0.7% YoY, driven by a return to year-over-year growth in Women's and Fix channels, and continued growth in Men's and Freestyle channels.
- **AOV Momentum Continues**: Average order value (AOV) increased 10% YoY, marking the 7th consecutive quarter of AOV growth, fueled by larger Fix offerings (up to 8 items) and trend-right assortments.
- **Client Engagement Strengthens**: Active client sequential decline was the lowest in 3 years, with new client growth for 2 straight quarters. 90-day LTVs are at their highest in 3 years, reflecting higher-quality client acquisition.
- **Transformation Progress**: Transitioning into the 'growth phase' of the 3-phase strategy, with improved operational efficiency (e.g., inventory turns up YoY) and client-centric innovations like 'theme fixes' and stylists-as-curators.

**【CFO Financial Commentary】**
- **Q3 Financial Highlights**: 
  - GAAP net revenue: $325M (+0.7% YoY)
  - Adjusted EBITDA: $11M (3.4% margin)
  - Free cash flow: $16M
  - Gross margin: 44.2% (-130bps YoY)
- **FY25 Updated Guidance**: 
  - Total revenue: $1.254B - $1.259B
  - Adjusted EBITDA: $43M - $47M
  - Q4 revenue: $298M - $303M
- **Key Drivers**: 
  - AOV growth (+10% YoY)
  - Inventory optimization (flat YoY, +4.4% QoQ)
  - Contribution margin >33% (5th consecutive quarter)
- **Risks & Mitigations**: 
  - FY26 tariff impact expected, with 30%+ private brand portfolio flexibility
  - Monitoring macroeconomic spending trends

**【Q&A Key Takeaways】**
1. **Consumer Behavior**: 
   - Larger Fix penetration doubled Q1-Q3, driving AOV
   - Athleisure (+30% YoY) and footwear (+35% YoY) outperform
   - Clients spending more on recurring shipments
2. **Gross Margin Dynamics**: 
   - Q4 gross margin expected at lower end of 44-45% range
   - Long-term focus on contribution margin (33%+)
3. **Tariff Strategy**: 
   - No price increases planned for FY25
   - Multi-brand flexibility and supplier diversification
4. **Client Acquisition**: 
   - Quality over quantity: 90-day LTVs at 3-year highs
   - Reengagement campaigns reducing dormancy rates

Stitch Fix, Inc. (SFIX) Q3 2025 Earnings Call Transcript

- **Revenue Beat & Margin Expansion**: Q2 revenue of $312.1M (+9% AOV YoY) and 44.5% gross margin highlight strong execution. Men's and Freestyle channels returned to growth.
- **AI & Flexibility Drive Engagement**: AI tools boosted new inventory keep rates by 7% YoY. Clients requesting same stylists hit five-year high, with Fix flexibility adoption up 40% QoQ.
- **Guidance Raised**: Full-year EBITDA raised to $40-$47M, driven by AOV growth and cost leverage. FY26 focus on active client growth amid tougher AOV comps.

**【CEO Summary Section】**
- Q2 revenue of $312.1 million exceeded expectations, with a 710 basis point sequential improvement in year-over-year revenue comps. Adjusted EBITDA reached $15.9 million, marking the fourth consecutive quarter with contribution margin above 30%.
- Key growth drivers include a 9% year-over-year increase in average order value (AOV), driven by higher keep rates, AUR, and items per Fix. Men's and Freestyle channels returned to year-over-year revenue growth.
- AI-powered merchandising tools improved inventory management, with new inventory keep rates up 7% year-over-year. Private brands like The Commons and Montgomery Post are top performers.
- Flexibility enhancements, such as allowing up to eight items per Fix, drove AOV growth and client engagement. Clients requesting the same stylist for future Fixes hit a five-year high.

**【CFO Financial Commentary】**
- Q2 gross margin expanded to 44.5% (up 110 basis points year-over-year), driven by AOV growth and product margin improvements. Advertising spend was 7.8% of revenue, below the prior quarter's 9.4%.
- Inventory management tightened, with net inventory down 13% year-over-year. Free cash flow was negative $19 million, in line with expectations due to working capital timing.
- Full-year guidance raised to $1.225-$1.240 billion in revenue and $40-$47 million in adjusted EBITDA. Q3 revenue expected between $311 million and $316 million.

**【Q&A Key Takeaways】**
- **Client Demographics**: Stitch Fix serves a broad income spectrum, with 90% of U.S. consumers stressed about traditional shopping. Flexibility in Fix sizes (up to eight items) and AI-driven personalization reduce shopping friction.
- **Tariff Mitigation**: A dedicated task force manages risks, with no expected client price or margin impact in FY25H2. Private and national brand diversification buffers tariff exposure.
- **Freestyle Growth**: Freestyle returned to year-over-year growth, driven by 20%+ shoppable selection expansion without inventory increases. It complements Fixes by capturing 24% of repeat clients' purchases.
- **FY26 Outlook**: Active client growth is a key focus, though AOV comps may create headwinds. The team aims to balance engagement improvements with long-term client acquisition efficiency.

Actual									0.11	-0.33	-0.44	0.09	-0.2	-0.18	0.19	-0.02	-0.28	-0.72	-0.89	-0.5	-0.58	-0.19	-0.24	-0.22	-0.3	-0.18	-0.3	-0.05	-0.05	-0.06	-0.07	-0.05	-0.02
Forecast									0.0746	-0.15	-0.1622	-0.1492	-0.2108	-0.27	-0.1223	-0.1424	-0.3076	-0.5589	-0.6315	-0.4685	-0.3384	-0.3069	-0.2143	-0.246	-0.2189	-0.2406	-0.21	-0.141	-0.1122	-0.115	-0.1033	-0.05	-0.0533
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+47.45%	-120.00%	-171.27%	+160.32%	+5.12%	+33.33%	+255.36%	+85.96%	+8.97%	-28.82%	-40.93%	-6.72%	-71.39%	+38.09%	-11.99%	+10.57%	-37.05%	+25.19%	-42.86%	+64.54%	+55.44%	+47.83%	+32.24%	0.00%	+62.48%

SFIX

SFIX fundamentals

SFIX Q2 2026 Earnings

Earnings Call

You can ask Aime

SFIX

SFIX fundamentals

SFIX Q2 2026 Earnings

Earnings Call

SFIX Earnings Call Summary for Q2/20265:00 PM on Mar 11, 2026

SFIX Earnings Call Summary for Q1/20265:00 PM on Dec 4, 2025

SFIX Earnings Call Summary for Q4/20255:00 PM on Sep 24, 2025

SFIX Earnings Call Summary for Q3/20255:00 PM on Jun 10, 2025

SFIX Earnings Call Summary for Q2/20255:00 PM on Mar 11, 2025

You can ask Aime