Revolve financial

Revolve Group Announces Fourth Quarter and Full Year 2022 Financial Results February 23, 2023 , /PRNewswire/ -- Revolve Group, Inc. (NYSE: RVLV), the next-generation fashion retailer for Millennial and Generation Z consumers, today announced financial results for the fourth quarter and full year ended December 31, 2022. "2022 was the 19th full year since Mike and I founded REVOLVE, and I'm proud of our financial performance and the accomplishments our team delivered in such a dynamic operating environment," said co-founder and co-CEO Michael Mente. "Our net sales for the year increased 24% to $1.1 billion, we delivered record growth in active customers, and we generated significant profitably and cash flow that further strengthened our balance sheet." "While the macroenvironment has become more challenging in recent quarters, we have moved quickly and made progress in balancing our inventory investments while continuing to deliver profitable growth that truly stands out within our sector," said Mike Karanikolas, co-founder and co-CEO. "We are more excited than ever about the opportunity that lies ahead. With our technology and data-driven culture, financial discipline, operational excellence and innovative team, we believe we are well positioned to continue to take market share." Fourth Quarter 2022 Financial Summary Three Months Ended December 31, 2022 2021 YoY Change (in thousands, except percentages) Net sales $ 259,153 $ 239,805 8 % Gross profit $ 133,288 $ 131,464 1 % Gross margin 51.4 % 54.8 % Net income $ 7,868 $ 29,382 (73 %) Adjusted EBITDA (non-GAAP financial measure) $ 14,137 $

Unlock stock picks and a broker-level newsfeed that powers Wall Street. In This Article: Revolve Renewable Power Corp. (TSXV:REVV)(OTCQB:REVVF) ("Revolve" or the "Company"), a North American owner, operator and developer of renewable energy projects, is pleased to announce an expansion of the Company's Account Performance Security Guarantee ("APSG") facility with Export Development Canada ("EDC"). The expanded APSG with EDC has increased from US$2,900,000 to US$4,500,000. The increased APSG facility, which closed on January 21, 2025, is being provided in support of an interconnection financial security letter of credit for the 20MW/80MWh Vernal Battery Energy Storage System ("BESS") in the United States in the amount of US$1,810,000. The APSG allows Revolve to issue letters of credit with the Company's financial institution without putting up cash collateral, providing the Company with better access to cash and working capital. "The expansion of this EDC facility is another great example of the progress Revolve is making as we accelerate our project development initiatives," said CEO Myke Clark. "These structures contribute to a stronger corporate financial structure by freeing up working capital that can be utilized for expansion and growth. We are proud to be working with EDC to increase opportunities for export growth and believe the potential for continued growth in the renewable energy sector is significant." On April 22, 2024, the Company announced that it had completed the interconnection process for the 20MW/80MWh Vernal Battery Storage Project and has signed an interconnection agreement with PacifiCorp. Completion of this milestone paves the way for the Project to complete the remaining permitting works with a target of being "ready to build" in late 2025. The EDC APSG is being utilized for the interconnection bond on the project. For further information contact: Myke Clark, [email protected] About RevolveRevolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar, hydro and battery storage projects in the US, Canada and Mexico. The Company has a second division, Revolve Renewable Business Solutions which installs and operates sub 20MW "behind the meter" distributed generation (or "DG") assets. Revolve's portfolio includes the following: Operating Assets: 12.78 MW (net) of operating assets under long term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation; Development: a diverse portfolio of utility scale development projects across the US, Canada and Mexico with a combined capacity of over 3,000MWs as well

Revolve Group Announces Third Quarter 2021 Financial Results November 3, 2021 LOS ANGELES--(BUSINESS WIRE)--Revolve Group, Inc. (NYSE: RVLV), the next-generation fashion retailer for Millennial and Generation Z consumers, today announced financial results for the third quarter ended September 30, 2021.“We delivered record quarterly net sales in the third quarter of 2021, highlighted by growth of 62% over the prior year and 58% over the third quarter of 2019, a meaningful acceleration from the 41% growth reported for the second quarter of 2021 over the second quarter of 2019,” said co-founder and co-CEO Mike Karanikolas. “I’m also excited to see the clear signs of increased customer engagement in the third quarter, including record quarterly growth in Active Customers.””Our third quarter results reinforce our conviction that our competitive strengths will enable us to continue to thrive as we transition to a post-pandemic world,” said co-founder and co-CEO Michael Mente. “Our current momentum and the strength of our brands is broad based across both REVOLVE and FWRD. We are particularly excited by our recent announcement that Kendall Jenner is serving as FWRD’s Creative Director. Kendall brings incredible creativity and passion to the role that we believe will extend our reach and appeal to a broader audience of next generation luxury consumers than ever before.” Third Quarter 2021 Financial Summary Three Months Ended September 30, 2021 2020 YoY Change 2019 (1) (in thousands) Net sales $ 244,064 $ 151,036 62% $ 154,197 Gross profit $ 134,476 $ 83,467 61% $ 82,678 Gross margin 55.1 % 55.3 % 53.6 % Net income $ 16,668 $ 19,438 (14%) $ 9,559 Adjusted EBITDA (non-GAAP financial measure) $ 21,666 $ 24,025 (10%) $ 14,438 Net cash provided by operating activities $ 1,855 $ 14,340 (87%) $ 9,150 Free cash flow (non-GAAP financial measure) $ 1,340 $ 13,877 (90%)

179,740 146,263 Total $ 259,153 $ 239,805 $ 1,101,416 $ 891,390 Gross profit REVOLVE $ 116,445 $ 113,309 $ 514,585 $ 420,151 FWRD 16,843 18,155 77,738 69,672 Total $ 133,288 $ 131,464 $ 592,323 $ 489,823 The following table lists net sales by geographic area (in thousands): Three Months Ended December 31, Year Ended December 31, 2022 2021 2022 2021 United States $ 217,989 $ 199,121 $ 914,364 $ 726,292 Rest of the world 41,164 40,684 187,052 165,098 Total $ 259,153 $ 239,805 $ 1,101,416 $ 891,390 REVOLVE GROUP, INC. AND SUBSIDIARIES KEY OPERATING AND FINANCIAL METRICS (Unaudited) Three Months Ended December 31, Year Ended December 31, 2022 2021 2022 2021 (in thousands, except average order value and percentages) Gross margin 51.4 % 54.8 % 53.8 % 55.0 % Adjusted EBITDA $ 14,137 $ 34,176 $ 90,234 $ 114,585 Free cash flow $ (12,278) $ (6,525) $ 18,269 $ 60,118 Active customers 2,340 1,840 2,340 1,840 Total orders placed 1,954 1,755 8,304 6,636 Average order value $ 306 $ 292 $ 304 $ 271 REVOLVE GROUP, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) A reconciliation of non-GAAP Adjusted EBITDA to net income for the three months and year ended December 31, 2022 and 2021 is as follows: Three Months Ended December 31, Year Ended December 31, 2022 2021 2022 2021 (in thousands) Net income $ 7,868 $ 29,382 $ 58,697 $ 99,840 Excluding: Other expense (income), net 293 224 (3,476) 563 Provision for income taxes 2,498 2,330 17,919