Revolve Group, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Revolve Group, Inc. filed its Q1 2024 10-Q, detailing financial positions and equity plans.</b>

AI Summary

Revolve Group, Inc. (RVLV) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Revolve Group, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to the company's revolving credit facility with Bank of America. Information on common stock, including Class A and Class B, is detailed as of March 31, 2024. The report references the 2019 Equity Incentive Plan and performance awards. Key financial statement components like retained earnings and additional paid-in capital are presented for various dates.

Why It Matters

For investors and stakeholders tracking Revolve Group, Inc., this filing contains several important signals. This filing provides an update on Revolve Group's financial health and capital structure as of Q1 2024. The details on equity incentive plans and credit facilities offer insights into the company's operational and financial management strategies.

Risk Assessment

Risk Level: — Revolve Group, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine disclosure.

Analyst Insight

Monitor future filings for trends in revenue segments and executive compensation.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Period for which the 10-Q report is filed)
• 2024-05-07 — Filing Date (Date the 10-Q was filed with the SEC)
• 2023-12-31 — Previous Year End Date (Reference date for financial statement components)

Key Players & Entities

• Revolve Group, Inc. (company) — Filer of the 10-Q report
• Bank of America (company) — Mentioned in relation to the revolving credit facility
• 2019 Equity Incentive Plan (company) — Plan referenced in the filing

FAQ

Industry Context

Revolve Group operates in the online retail sector, specifically focusing on fashion apparel.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management discussion.
2. Analyze segment revenue data if available in the full report.
3. Track executive compensation details in subsequent filings.

Key Dates

• 2024-03-31: Quarterly Period End — The report covers financial data up to this date.
• 2024-05-07: Filing Date — Official submission date of the 10-Q to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing a baseline for future comparisons.

Key Financial Figures

• $0.001 — ered: Class A Common Stock, par value $0.001 per share RVLV New York Stock Excha

Filing Documents

• rvlv-20240331.htm (10-Q) — 1710KB
• rvlv-ex31_1.htm (EX-31.1) — 14KB
• rvlv-ex31_2.htm (EX-31.2) — 14KB
• rvlv-ex32_1.htm (EX-32.1) — 11KB
• 0000950170-24-054537.txt (&nbsp;) — 6835KB
• rvlv-20240331.xsd (EX-101.SCH) — 910KB
• rvlv-20240331_htm.xml (XML) — 1166KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 7 Condensed Consolidated Balance Sheets 7 Condensed Consolidated Statements of Income 8 Condensed Consolidated Statements of Comprehensive Income 9 Condensed Consolidated Statements of Cash Flows 10 Notes to the Condensed Consolidated Financial Statements 11

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 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 37

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 72

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 73

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 73

Other Information

Item 5. Other Information 73

Exhibits

Item 6. Exhibits 74

Signatures

Signatures 75 SUMMARY RISK FACTORS Our business is subject to numerous risks and uncertainties, including those highlighted in the section of this report titled "Risk Factors." The following is a summary of the principal risks we face: Economic downturns and other macroeconomic conditions or trends may adversely affect consumer discretionary spending and our business, operating results and financial condition. If we fail to effectively manage our growth, our business, financial condition and operating results could be harmed. We purchase inventory in anticipation of sales, and if we are unable to manage our inventory effectively, our operating results could be adversely affected. Merchandise returns could harm our business. If we are unable to anticipate and respond to changing customer preferences and shifts in fashion and industry trends in a timely and cost-effective manner, our business, financial condition and operating results could be harmed. Our business depends on our ability to maintain a strong community of brands, engaged customers and influencers. We may not be able to maintain and enhance our existing brand community if we receive customer or influencer complaints, negative publicity or otherwise fail to live up to consumers' expectations, which could materially adversely affect our business, operating results and growth prospects. Use of social media and influencers may materially and adversely affect our reputation or subject us to regulatory and tax obligations, fines or other penalties. If we fail to acquire new customers, or fail to do so in a cost-effective manner, our financial results may be materially adversely impacted. If we fail to retain existing customers, or fail to maintain average order value levels, we may not be able to maintain our revenue base and margins, which would have a material adverse effect on our business and operating results. Our business, including our costs and supply chain, is subject to risk

- FINANCI AL INFORMATION

PART I - FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements REVOLVE GROUP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDA TED BALANCE SHEETS (Unaudited) ( In thousands, except share and per share data) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 273,416 $ 245,449 Accounts receivable, net 14,929 12,405 Inventory 201,839 203,587 Income taxes receivable — 1,625 Prepaid expenses and other current assets 78,555 65,523 Total current assets 568,739 528,589 Property and equipment (net of accumulated depreciation of $ 19,306 and $ 17,994 as of March 31, 2024 and December 31, 2023, respectively) 8,151 7,763 Right-of-use lease assets 36,819 36,440 Intangible assets, net 1,879 1,875 Goodwill 2,042 2,042 Other assets 2,398 2,172 Deferred income taxes 30,005 30,005 Total assets $ 650,033 $ 608,886 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 56,000 $ 47,821 Income taxes payable 1,248 — Accrued expenses 48,479 40,714 Returns reserve 84,396 63,780 Current lease liabilities 7,417 6,863 Other current liabilities 28,787 30,442 Total current liabilities 226,327 189,620 Non-current lease liabilities 33,823 34,126 Total liabilities 260,150 223,746 Stockholders' equity: Class A common stock, $ 0.001 par value; 1,000,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 38,219,753 and 38,693,589 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 38 39 Class B common stock, $ 0.001 par value; 125,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 32,597,119 and 32,597,119 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 33 33 Additional paid-in capital 119,127 116,713 Retained earnings 270,685 268,355 Total stockholders' equity 389,883 385,140