Chewy : Fourth Quarter 2024 Earnings Presentation
CHWY
Q4 2024 Financial Results March 26, 2025
1
Key Recent Highlights
(1) Represents executed share repurchases during Fiscal Year 2024.
(2) Net sales per active customer defined as the aggregate net sales for the preceding four fiscal quarters, divided by the total number of active customers at the end of that period.
(3) Autoship customers defined as customers in a given fiscal quarter for whom an order has shipped through our Autoship subscription program during the preceding 364-day period. We define Autoship customer sales as a percentage of net sales as the Autoship customer sales in a given reporting period divided by the net sales from all orders in that period.
(4) Adjusted ("Adj.") EBITDA and adjusted ("Adj.") EBITDA margin are non-GAAP financial measures. See "Non-GAAP Financial Measures" for additional information and a reconciliation to the most comparable GAAP measures.
(5) "Bps" refers to basis points and "YoY" refers to year over year.
Net Sales
$11,148
$8,967
% YoY Growth1 25.5%
$10,119
$11,861
12.8%
10.2%
6.4%
$2,878
$2,826
% YoY Growth
$3,247
$2,859
$2,878
4.2%
3.1%
2.6%
4.8%
14.9%
(1) Consistent with the Company's Annual Report on Form 10-K for its 2023 Fiscal Year, the Company has provided recasted financial information for historical comparative periods to reflect the operations of Chewy Pharmacy KY, LLC beginning with the Company's 2021 Fiscal Year. Any historical comparatives prior to Fiscal Year 2021 are consistent with previously reported financial information.
(2) Includes the impact of the 14th and 53rd week in Q4 and Fiscal Year 2024, respectively.
Autoship Customer Sales1
$9,393 $8,493
$7,408
$6,324
$2,617
$2,159
$2,233
$2,242
$2,301
% YoY Growth2 29.3%
% YoY Growth
17.1%
14.7%
10.6%
8.1%
6.4%
5.8%
8.7%
21.2%
(1) We define Autoship customers as customers in a given fiscal quarter for whom an order has shipped through our Autoship subscription program during the preceding 364-day period.
(2) Consistent with the Company's Annual Report on Form 10-K for its 2023 Fiscal Year, the Company has provided recasted financial information for historical comparative periods to reflect the operations of Chewy Pharmacy KY, LLC beginning with the Company's 2021 Fiscal Year. Any historical comparatives prior to Fiscal Year 2021 are consistent with previously reported financial information.
(3) Includes the impact of the 14th and 53rd week in Q4 and Fiscal Year 2024, respectively.
Net Sales Per Active Customer ("NSPAC")1
$434
FY 21
Active Customers2 (Millions)
$496
FY 22
$555
FY 23
$578
FY24 3
20.7
20.4
20.1
20.5
(1) We define net sales per active customer ("NSPAC") as the aggregate net sales for the preceding four fiscal quarters, divided by the total number of active customers at the end of that period.
(2) We define active customers as the total number of customers who have ordered a product or service, and for whom a product has shipped or for whom a service has been provided, at least once during the preceding 364-day period.
(3) Includes the impact of the 53rd week in Fiscal Year 2024.
Gross Margin
(%)
(%)
29.2%
28.4%
26.6%
28.0%
29.7%
29.3%
29.5%
28.2%
28.5%
Gross Profit ($ Millions)
$2,385
$2,834
$3,162
$3,468
Gross Profit ($ Millions)
$798
$854
$844
$844
$926
Adjusted EBITDA1
$77
$368
$307
$571
$163
$86
$145
$138
$125
% Margin1 0.9%
3.0%
3.3%
4.8%
% Margin1
3.1%
5.7%
5.1%
4.8%
3.8%
(1) Adjusted ("Adj.") EBITDA and adjusted EBITDA margin are non-GAAP financial measures. See "Non-GAAP Financial Measures" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures.
Free Cash Flow1
$9
$119
$343
$452
$152
$157
$91
$67
$53
Q4 FY24 Cash Balance: $597M2
(1) Free cash flow ("FCF") is a non-GAAP financial measure. See "Non-GAAP Financial Measures" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures.
(2) Reflects total cash and cash equivalents plus marketable securities.
Fiscal First Quarter 2025
Net Sales
$3.06 billion - $3.09 billion
Approximately 6 to 7% YoY growth
Adj. Diluted EPS1
$0.30 - $0.35
Fiscal Year 2025
Net Sales
$12.30 billion - $12.45 billion Approximately 6 to 7% YoY growth2
Adj. EBITDA Margin1
5.4% - 5.7%
(1) Adjusted ("Adj.") EBITDA Margin and adjusted ("Adj.") diluted earnings per share ("EPS") are non-GAAP financial measures. See "Non-GAAP Financial Measures" for additional information on non-GAAP financial measures.
(2) Adjusted to exclude the impact of the 53rd week in Fiscal Year 2024.
Our guidance is based on certain assumptions, including current expectations regarding the impact of general economic conditions, and is subject to various risks and uncertainties applicable to all forward-looking statements in this presentation. See "Forward-Looking Statements" for more information. We have not reconciled our outlook for adjusted EBITDA margin to net margin or adjusted diluted EPS to GAAP diluted EPS because we do not provide an outlook for GAAP net income and GAAP diluted EPS due to the uncertainty and potential variability of reconciling items between adjusted EBITDA and GAAP net income as well as adjusted diluted EPS and GAAP diluted EPS. Because such items cannot be reasonably predicted, we are unable to provide a reconciliation of the non-GAAP financial measure outlook to the corresponding GAAP measure. However,
such items could have a significant impact on GAAP net income, net margin, and diluted EPS.
Disclaimer
Chewy Inc. published this content on March 26, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on March 26, 2025 at 11:08:02.157.