Stitch Fix Inc (NASDAQ:SFIX) reported upbeat earnings for its second quarter, while sales missed views.
The company, based in San Francisco, reported Monday it had active clients of 3.5 million, an increase of 17% year over year.
Net revenue per active client proved $501, an increase of 8% year over year. Net revenue was $451.8 million, an increase of 22% year over year. Net income registered at $11.4 million
Adjusted EBITDA was$14.3 million and adjusted EBITDA excluding stock-based compensation expense of $30.1 million. Diluted earnings per share of $0.11
CEO Katrina Lake said, "This quarter, we are excited to expand our new direct buy offerings to even more clients. As we continue to evolve our personalization capabilities we're confident in our ability to capture additional market share, and deliver on our mission to transform the way people find what they love."
Stitch Fix is an online personal styling service that is reinventing the shopping experience by delivering one-to-one personalization to our clients through the combination of data science and human judgment.
Since its founding in 2011, the company claims to have “helped millions of women, men, and kids discover and buy what they love through personalized selections of apparel, shoes, and accessories, curated by Stitch Fix stylists and algorithms.”
SFIX shares backed off $5.53, or 26.1%, to $15.68
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