SFIX earnings analysis
What we found in SFIX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Stitch Fix reported a positive quarter with Q3 2026 revenue of $340.3 million, surpassing expectations and reflecting a 4.7% year-over-year increase. The net loss shrank significantly to $1.5 million, down from $7.4 million a year prior, and the company remains focused on enhancing the client experience even amidst challenging economic conditions.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Outperforms Expectations
- Actual revenue reached $340.3 million, beating estimates of $333.5 million.
- Reduced Net Loss
- Net loss from continuing operations decreased to $1.5 million from $7.4 million year-over-year.
- Improved EPS
- Reported diluted EPS loss narrowed to -$0.01 from -$0.05 year-over-year.
- Positive Free Cash Flow
- Free cash flow for the nine months ended was $15.4 million, up from $6.5 million in the prior year.
- Rising Revenue per Active Client
- Net revenue per active client increased to $578, up 6.6% from the previous year.
- SG&A as % of Revenue Declines
- SG&A expenses as a percentage of revenue improved to 44.9% from 47.2% year-over-year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decreased Active Clients
- Active clients fell to approximately 2,309,000, down 1.9% year-over-year.
- Ongoing Macroeconomic Pressures
- Management anticipates continued challenges from economic uncertainty affecting consumer spending.
- Inventory Management Challenges
- Higher transportation costs impacted gross margins, now at 43.7%, down from 44.2% a year ago.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.01
- Gross margin
- 43.7%
What they said about what is next.
Management anticipates Q4 2026 revenue of $322-$327 million, reflecting a decrease of 3.5%-5.1% year-over-year.
The filing reads better than the one before it.
What came before.
- 10-Q · March 12, 2026
- Stitch Fix reported Q2 (three months ended January 31, 2026) revenue of $341.3M, up $29.2M (≈9.4%) versus prior-year quarter while gross margin compressed to 43.6% from 44.5%. Operating loss narrowed to $(4.7)M (‑1.4%…
- 10-K · September 25, 2025
- Stitch Fix emphasizes a differentiated, AI-enabled stylisting model that pairs human Stylists with proprietary data and algorithms to personalize apparel recommendations. The company reports scale metrics including…
- 10-Q · June 11, 2025
- Stitch Fix reported Q3 revenue of $325,016,000 (vs. consensus $314,340,000) and a GAAP diluted loss per share of $(0.06), beating estimates on both top and bottom lines. Gross margin was 44.2% and operating margin was…
- 10-K · September 25, 2024
- Stitch Fix emphasizes a differentiated, data-driven personal styling model that pairs expert Stylists with proprietary AI/algorithms and a rich first‑party merchandise dataset. The company reports scale (approximately…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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