Stitch Fix 10-Q: Balance Sheet Updates for Nov 2, 2024

TL;DR

Stitch Fix 10-Q filed: Balance sheet shows changes in common stock & paid-in capital as of Nov 2, 2024.

AI Summary

Stitch Fix, Inc. filed its 10-Q for the period ending November 2, 2024, reporting on its financial performance. The filing details changes in its balance sheet, including common stock and additional paid-in capital, with specific figures for the periods ending August 3, 2024, and November 2, 2024. The company's fiscal year ends on August 2nd.

Why It Matters

This filing provides investors with an updated view of Stitch Fix's financial health and capital structure as of November 2, 2024, crucial for assessing its stability and future prospects.

Risk Assessment

Risk Level: medium — The filing provides a snapshot of financial health, but a full risk assessment requires deeper analysis of the company's operational performance and market conditions.

Key Numbers

• 2024-11-02 — Reporting Period End Date (Indicates the latest financial snapshot provided in the filing.)
• 2024-08-03 — Prior Period End Date (Provides a comparative point for balance sheet changes.)
• 2024-08-02 — Fiscal Year End (Defines the company's annual financial reporting cycle.)

Key Players & Entities

• Stitch Fix, Inc. (company) — Filer of the 10-Q report
• November 2, 2024 (date) — End of the reporting period
• August 3, 2024 (date) — Previous reporting period end
• August 2, 2024 (date) — Fiscal year end

FAQ

Key Financial Figures

• $0.00002 — stered Class A common stock, par value $0.00002 per share SFIX Nasdaq Global Select Mar

Filing Documents

• sfix-20241102.htm (10-Q) — 1107KB
• q125-exhibit101.htm (EX-10.1) — 20KB
• q125-exhibit102.htm (EX-10.2) — 100KB
• q125-ex311.htm (EX-31.1) — 10KB
• q125-ex312.htm (EX-31.2) — 10KB
• q125-ex321.htm (EX-32.1) — 7KB
• q125-ex991recoupmentpolicy.htm (EX-99.1) — 39KB
• image_0a.jpg (GRAPHIC) — 3KB
• image_0b.jpg (GRAPHIC) — 0KB
• 0001576942-24-000133.txt ( ) — 6000KB
• sfix-20241102.xsd (EX-101.SCH) — 33KB
• sfix-20241102_cal.xml (EX-101.CAL) — 70KB
• sfix-20241102_def.xml (EX-101.DEF) — 249KB
• sfix-20241102_lab.xml (EX-101.LAB) — 452KB
• sfix-20241102_pre.xml (EX-101.PRE) — 355KB
• sfix-20241102_htm.xml (XML) — 795KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited): 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Loss 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flow 6 Notes to the Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 17

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 25

Controls and Procedures

Item 4. Controls and Procedures 25

OTHER INFORMATION

PART II. OTHER INFORMATION 26

Legal Proceedings

Item 1. Legal Proceedings 26

Risk Factors

Item 1A. Risk Factors 26

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 47

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 47

Other Information

Item 5. Other Information 47

Exhibits

Item 6. Exhibits 48

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Stitch Fix, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share and per share amounts) November 2, 2024 August 3, 2024 Assets Current assets: Cash and cash equivalents $ 137,153 $ 162,862 Short-term investments 116,119 84,106 Inventory, net 119,145 97,903 Prepaid expenses and other current assets 20,099 21,839 Total current assets 392,516 366,710 Property and equipment, net 49,204 51,517 Operating lease right-of-use assets 60,616 63,780 Other long-term assets 4,783 4,857 Total assets $ 507,119 $ 486,864 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 114,386 $ 87,058 Operating lease liabilities 21,999 21,817 Accrued liabilities 69,352 73,007 Gift card liability 6,296 6,749 Deferred revenue 9,256 9,217 Other current liabilities 5,232 5,201 Current liabilities, discontinued operations 32 502 Total current liabilities 226,553 203,551 Operating lease liabilities, net of current portion 89,465 95,685 Other long-term liabilities 606 606 Total liabilities 316,624 299,842 Commitments and contingencies (Note 6) Stockholders' equity: Class A common stock, $ 0.00002 par value – 2,000,000,000 shares authorized at November 2, 2024, and August 3, 2024; 106,827,439 and 104,742,401 shares issued at November 2, 2024, and August 3, 2024; and 104,525,298 and 102,440,260 shares outstanding at November 2, 2024, and August 3, 2024, respectively 1 1 Class B common stock, $ 0.00002 par value – 100,000,000 shares authorized at November 2, 2024, and August 3, 2024; 22,318,035 and 22,318,035 shares issued and outstanding at November 2, 2024, and August 3, 2024, respectively 1 1 Additional paid-in capital 694,339 684,650 Accumulated other comprehensive income (loss) ( 295 ) ( 335 ) Accumulated deficit ( 473,509 ) ( 467,253 ) Treasury stock, at cost – 2,302,141 and 2,302,141 shares as of November 2, 2024, and August 3, 2024, respectively ( 30,042 ) ( 30,042 )

View Full Filing

View this 10-Q filing on SEC EDGAR