Revolve Group records strong third quarter performance

Revolve Group’s third quarter net sales were 283.1 million dollars, a year-over-year increase of 10 percent.

After the end of the third quarter, the company’s net sales in October increased by a low-double digit percentage.

"We delivered exceptional results in the third quarter, highlighted by double-digit top-line growth, significant expansion of net income, and 85 percent growth in adjusted EBITDA year-over-year," said the company’s co-founder and co-CEO Mike Karanikolas in a statement.

Highlights of Revolve Group’s Q3 results

Active customers for the year-to-date period grew to 2,628,000, an increase of 5 percent year-over-year.

Revolve Group reported gross profit of 144.9 million dollars, an increase of 9 percent, while gross margin was 51.2 percent, a decrease of 56 basis points. Net income increased to 10.8 million dollars, adjusted EBITDA jumped 85 percent to 17.5 million dollars and diluted earnings per share rose to 15 cents.

The company’s Revolve segment net sales were 243.4 million dollars, up 12 percent and FWRD segment net sales of 39.7 million dollars, remained flat year-over-year.

Domestic net sales were 222.7 million dollars, an increase of 7 percent, while international net sales increased by 20 percent to 60.5 million dollars, driven by growth in all major regions.

"Our strong quarter is a result of our execution on key growth and efficiency initiatives, which have helped us continue our net sales momentum into the first month of the fourth quarter of 2024," added Revolve Group’s co-founder and co-CEO Michael Mente.