Revolve Group Files Q3 2024 10-Q

TL;DR

Revolve Group's Q3 10-Q is in. Check financials.

AI Summary

Revolve Group, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial metrics and business segment information are presented, reflecting the company's ongoing activities in the retail sector.

Why It Matters

This filing provides investors with the latest financial performance data for Revolve Group, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company in the retail sector, Revolve Group faces inherent market, economic, and competitive risks detailed in its SEC filings.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-11-05 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Revolve Group, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241105 (date) — Filing date
• CERRITOS, CA (location) — Company's business and mailing address

FAQ

Key Financial Figures

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

Filing Documents

• rvlv-20240930.htm (10-Q) — 2491KB
• rvlv-ex31_1.htm (EX-31.1) — 15KB
• rvlv-ex31_2.htm (EX-31.2) — 15KB
• rvlv-ex32_1.htm (EX-32.1) — 11KB
• 0000950170-24-121490.txt ( ) — 9516KB
• rvlv-20240930.xsd (EX-101.SCH) — 972KB
• rvlv-20240930_htm.xml (XML) — 2030KB

- 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 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 42

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 77

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 78

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 78

Other Information

Item 5. Other Information 78

Exhibits

Item 6. Exhibits 79

Signatures

Signatures 80 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) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 252,841 $ 245,449 Accounts receivable, net 11,527 12,405 Inventory 240,040 203,587 Income taxes receivable 4,058 1,625 Prepaid expenses and other current assets 76,529 65,523 Total current assets 584,995 528,589 Property and equipment (net of accumulated depreciation of $ 21,362 and $ 17,994 as of September 30, 2024 and December 31, 2023, respectively) 8,005 7,763 Right-of-use lease assets 38,567 36,440 Intangible assets, net 2,323 1,875 Goodwill 2,042 2,042 Other assets 4,996 2,172 Deferred income taxes 30,005 30,005 Total assets $ 670,933 $ 608,886 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 60,388 $ 47,821 Income taxes payable 674 — Accrued expenses 38,208 40,714 Returns reserve 76,187 63,780 Current lease liabilities 8,359 6,863 Other current liabilities 32,141 30,442 Total current liabilities 215,957 189,620 Non-current lease liabilities 34,165 34,126 Total liabilities 250,122 223,746 Stockholders' equity: Class A common stock, $ 0.001 par value; 1,000,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 38,122,782 and 38,693,589 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 38 39 Class B common stock, $ 0.001 par value; 125,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 32,590,170 and 32,597,119 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 33 33 Additional paid-in capital 123,883 116,713 Retained earnings 296,332 268,355 Non-controlling inter