Stitch Fix Inc. (NASDAQ: SFIX) stock soared by 4.36% at last close while the SFIX stock price gains further by 16.15% in the after-hours trading session after SFIX announced its third quarter fiscal 2021 financial highlights. Stitch Fix is an online personal styling platform that is redefining the shopping experience by using a mixture of data science and human judgment to provide one-to-one personalization to our clients.
Stitch Fix announced its third quarter fiscal 2021 financial results. Given below is the summary:
- SFIX has generated a total revenue of $535.6 million which is an increase of 44% compared to previous year.
- SFIX has 4.1 million active clients, a rise of 689,000 or 20% year over year and 234,000 clients quarter over quarter.
- Total revenue per active client was $481, a 3% drop year over year and a 3% rise quarter over quarter.
- The net loss was calculated to be $18.8 million, with a diluted loss per share of $0.18.
- Finally, Adjusted EBITDA for the third quarter of fiscal 2021 was $11.6 million.
Stitch Fix President and incoming CEO Elizabeth Spaulding stated:
As the world continues to reopen and the clothing retail backdrop improves, SFIX is delighted with their success this quarter and pleased to fulfill the needs and passion of more and more clients. Looking ahead, SFIX is excited to create an ecosystem of tailored shopping experiences that are universally appealing and cater to every need and event.
Stitch Fix has given an idea of what can be the possible financial outcome for next quarter and full year fiscal 2021.
- SFIX is expecting its revenue for Q4 fiscal 2021 to be $540 million – $550 million while for the full year fiscal 2021 the figures are $2.070 billion – $2.080 billion.
- The Adjusted EBTIDA for the fourth quarter and full year fiscal 2021 is anticipated as $15 million – $20 million and $25 million – $30 million respectively.