Revolve Group, Inc.

Listed Company

RVLVCIK 0001746618NYSELarge AcceleratedRetail-Catalog & Mail-Order HousesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.23B

Net Income

$61.71M

Total Assets

$765.00M

Equity

$512.53M

Shares Out

—

Op. Cash Flow

$59.40M

Business

Revolve Group, Inc. operates a digital-first fashion retail platform targeting Millennial and Generation Z consumers, offering a premium shopping experience driven by proprietary technology and data analytics. It sells a curated assortment of apparel, footwear, beauty, accessories and home products, including owned brands and third-party labels. Its primary business segments are the REVOLVE and FWRD retail platforms and an owned-brand portfolio that complement its third-party assortment. Revolve distributes merchandise through its e-commerce sites and mobile applications, leveraging influencer marketing, social media and direct fulfillment to serve domestic and international customers.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,226	1,130	1,069	1,101	891
Cost of sales	570	537	515	509	402
Gross profit	656	593	554	592	490
Fulfillment	40	37	37	32	21
Selling and distribution	210	195	197	190	134
Marketing	175	167	172	182	140
General and administrative	157	142	127	115	89
Total operating expenses	582	542	532	519	385
Income from operations	74	51	22	73	105
Other income, net	−8	−13	−16	−3	563,000
Income before income taxes	82	64	38	77	105
Provision for income taxes	21	16	10	18	5
Net income	61	49	28	59	—
Less: Net loss attributable to non-controlling interest	563,000	786,000	—	—	—
Net income attributable to Revolve Group, Inc. stockholders	62	50	28	59	100
Basic (per share)	0.87	0.7	0.39	0.8	1.38
Diluted (per share)	0.86	0.69	0.38	0.79	1.34
Basic (shares)	71	71	73	73	73
Diluted (shares)	72	72	74	75	75

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	292	257	245	235	218
Restricted cash	11	—	—	—	—
Accounts receivable, net	17	10	12	5	5
Inventory	252	229	204	215	171
Income taxes receivable	2	1	2	3	3
Prepaid expenses and other current assets	74	64	66	60	42
Total current assets	647	561	529	518	440
Property and equipment (net of accumulated depreciation of $26,245 and $22,230 as of December 31, 2025 and December 31, 2024, respectively)	15	9	8	9	9
Right-of-use lease assets	29	36	36	23	7
Intangible assets, net	2	2	2	2	1
Goodwill	2	2	2	2	2
Other assets	30	18	2	807,000	3
Deferred income taxes, net	40	37	30	25	19
Total assets	765	666	609	579	480
Accounts payable	56	45	48	51	54
Income taxes payable	1	4,000	—	229,000	—
Accrued expenses	44	39	41	38	34
Returns reserve	77	70	64	63	49
Current lease liabilities	11	9	7	6	4
Other current liabilities	41	34	30	23	19
Total current liabilities	231	196	190	181	160
Non-current lease liabilities	22	32	34	19	3
Total liabilities	252	228	224	200	163
Additional paid-in capital	144	133	117	110	104
Retained earnings	368	305	268	269	213
Non-controlling interest	—	−403,000	—	—	—
Total stockholders' equity	513	438	385	380	317
Total liabilities and stockholders equity	765	666	609	579	480

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	5	4	5	5	5
Rental product depreciation	2	700,000	—	—	—
Gain on sale of rental product	−294,000	—	—	—	—
Equity-based compensation	11	10	6	6	5
Loss on disposal of subsidiary	2	—	—	—	—
Deferred income taxes, net	−3	−7	−5	−6	−5
Accounts receivable	−6	2	−7	−782,000	−18,000
Inventories	−24	−25	12	−44	−76
Income taxes receivable	−522,000	430,000	1	401,000	7
Prepaid expenses and other current assets	−10	2	−6	−18	−22
Other assets	−11	−14	−1	2	−2
Accounts payable	12	−3	−3	−4	15
Income taxes payable	1	4,000	−229,000	229,000	−195,000
Accrued expenses	6	−2	2	4	9
Returns reserve	7	6	399,000	14	24
Right-of-use lease assets and lease liabilities	−684,000	−77,000	3	1	−448,000
Other current liabilities	8	3	8	4	4
Net cash provided by operating activities	59	27	43	23	62
Purchases of property and equipment	−11	−6	−4	−5	−2
Purchases of rental product	−4	−3	—	—	—
Proceeds from sale of rental product	2	—	—	—	—
Cash divested upon disposal of subsidiary	−2	—	—	—	—
Cash paid for acquisition	—	−427,000	—	—	—
Net cash used in investing activities	−15	−9	−4	−5	−2
Proceeds from the exercise of stock options, net of tax withholdings on share-based payment awards	637,000	6	536,000	887,000	—
Repurchases of Class A common stock	−2	−12	−31	—	—
Net cash used in financing activities	−1	−5	−30	887,000	13
Effect of exchange rate changes on cash and cash equivalents	3	−1	2	−3	−442,000
Net increase in cash and cash equivalents	47	11	11	16	72
Income taxes, net of refund	23	22	13	23	3
Operating leases	13	9	7	6	5
Lease assets obtained in exchange for new operating lease liabilities	6	7	20	22	1

Filings

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