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SFIX Stitch Fix

Stitch Fix is an online personal styling service that is reinventing the shopping experience by delivering one-to-one personalization to our clients through the combination of data science and human judgment. Stitch Fix was founded in 2011 by CEO Katrina Lake. Since then, we've helped millions of women, men, and kids discover and buy what they love through personalized selections of apparel, shoes, and accessories, curated by Stitch Fix stylists and algorithms.

Company profile

Ticker
SFIX
Exchange
CEO
Katrina Lake
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Stitch Fix Gift Cards, LLC • Stitch Fix UK, Ltd. ...

SFIX stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

27 Sep 21
2 Dec 21
31 Jul 22
Quarter (USD)
Jul 21 May 21 Jan 21 Oct 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jul 21 Jul 20 Aug 19 Jul 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Stitch Fix earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 129.79M 129.79M 129.79M 129.79M 129.79M 129.79M
Cash burn (monthly) (positive/no burn) 1.14M (positive/no burn) 5.28M (positive/no burn) 1.31M
Cash used (since last report) n/a 4.62M n/a 21.41M n/a 5.3M
Cash remaining n/a 125.17M n/a 108.38M n/a 124.49M
Runway (months of cash) n/a 109.9 n/a 20.5 n/a 95.3

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Nov 21 Katrina Lake Class A Common Stock Sell Dispose S Yes Yes 30.15 9,054 272.98K 0
18 Nov 21 Katrina Lake Class A Common Stock Sell Dispose S Yes Yes 30.19 20,834 628.98K 0
18 Nov 21 Katrina Lake Class A Common Stock Sell Dispose S Yes Yes 30.2 3,480 105.1K 9,557
18 Nov 21 Katrina Lake Class A Common Stock Conversion Acquire C Yes No 0 9,054 0 9,054
18 Nov 21 Katrina Lake Class A Common Stock Conversion Acquire C Yes No 0 20,834 0 20,834
18 Nov 21 Katrina Lake Class A Common Stock Conversion Acquire C Yes No 0 3,480 0 13,037
18 Nov 21 Katrina Lake Class B Common Stock Class A Common Stock Conversion Dispose C Yes No 0 9,054 0 0
18 Nov 21 Katrina Lake Class B Common Stock Class A Common Stock Conversion Dispose C Yes No 0 20,834 0 9,378,897
18 Nov 21 Katrina Lake Class B Common Stock Class A Common Stock Conversion Dispose C Yes No 0 3,480 0 191,648
17 Nov 21 Katrina Lake Class A Common Stock Sell Dispose S Yes Yes 32.09 9,054 290.54K 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 263 287 -8.4%
Opened positions 37 60 -38.3%
Closed positions 61 49 +24.5%
Increased positions 100 82 +22.0%
Reduced positions 60 85 -29.4%
13F shares
Current Prev Q Change
Total value 4.55B 5.31B -14.4%
Total shares 99.72M 88.95M +12.1%
Total puts 2.56M 1.49M +71.4%
Total calls 2.8M 1.67M +67.7%
Total put/call ratio 0.9 0.9 +2.3%
Largest owners
Shares Value Change
Baseline Ventures 2009 12.12M $711.6M 0.0%
Katrina Lake 10.24M $601.38M 0.0%
Working Capital Advisors 9.07M $364.49M NEW
Benchmark Capital Partners Vi 7.29M $427.8M 0.0%
Vanguard 6.37M $254.59M +6.1%
Jackson Square Partners 5.79M $231.45M +110.6%
BLK Blackrock 5.39M $215.35M +22.8%
MS Morgan Stanley 4.67M $186.63M -3.0%
Spyglass Capital Management 4.08M $163.07M +12.1%
Slate Path Capital 2.98M $119.13M +17.7%
Largest transactions
Shares Bought/sold Change
Working Capital Advisors 9.07M +9.07M NEW
Baillie Gifford & Co 828 -6M -100.0%
Jackson Square Partners 5.79M +3.04M +110.6%
Marshall Wace 1.43M +1.19M +491.8%
BLK Blackrock 5.39M +1M +22.8%
Marshall Wace North America 847.16K +736.16K +663.2%
Ci Investments 4 -671.47K -100.0%
Bares Capital Management 0 -552.29K EXIT
683 Capital Management 930K +545.31K +141.8%
D. E. Shaw & Co. 2.15M -510.28K -19.2%

Financial report summary

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Risks
  • The COVID-19 pandemic has caused significant disruption to our operations and impacted our business, key financial and operating metrics, and results of operations in numerous ways that remain unpredictable.
  • Our failure to adequately and effectively staff our fulfillment centers, through third parties or with our own employees, and other operational constraints at our fulfillment centers could adversely affect our client experience and operating results.
  • If we are unable to manage our inventory effectively, our operating results could be adversely affected.
  • Shipping is a critical part of our business and any changes in our shipping arrangements or any interruptions in shipping could adversely affect our operating results.
  • Our business, including our costs and supply chain, is subject to risks associated with sourcing of merchandise and raw materials and manufacturing.
  • We have a short operating history in an evolving industry and, as a result, our past results may not be indicative of future operating performance.
  • If we fail to effectively manage our growth, our business, financial condition, and operating results could be harmed.
  • Our continued growth depends on attracting new clients.
  • We may be unable to maintain a high level of engagement with our clients and increase their spending with us, which could harm our business, financial condition, or operating results.
  • We expect to increase our paid marketing to help grow our business, but these efforts may not be successful or cost effective.
  • If we are unable to develop and introduce new merchandise offerings or expand into new markets in a timely and cost-effective manner, our business, financial condition, and operating results could be negatively impacted.
  • Expansion of our operations internationally requires management attention and resources, involves additional risks, and may be unsuccessful.
  • We may not be able to sustain our revenue growth rate and we may not be profitable in the future.
  • Our business depends on a strong brand and we may not be able to maintain our brand and reputation.
  • If we fail to attract and retain key personnel, effectively manage succession, or hire, develop, and motivate our employees, our business, financial condition, and operating results could be adversely affected.
  • If we fail to effectively manage our stylists, our business, financial condition and operating results could be adversely affected.
  • If we are unable to acquire new merchandise vendors or retain existing merchandise vendors, our operating results may be harmed.
  • We may incur significant losses from fraud.
  • We are subject to payment-related risks.
  • We rely on consumer discretionary spending and have been, and may in the future be, adversely affected by economic downturns and other macroeconomic conditions or trends.
  • Our industry is highly competitive and if we do not compete effectively our operating results could be adversely affected.
  • We must successfully gauge apparel trends and changing consumer preferences.
  • Our operating results have been, and could be in the future, adversely affected by natural disasters, public health crises, political crises, or other catastrophic events.
  • System interruptions that impair client access to our website or other performance failures in our technology infrastructure could damage our business.
  • Compromises of our data security could cause us to incur unexpected expenses and may materially harm our reputation and operating results.
  • Some of our software and systems contain open source software, which may pose particular risks to our proprietary applications.
  • Adverse litigation judgments or settlements resulting from legal proceedings in which we are or may be involved could expose us to monetary damages or limit our ability to operate our business.
  • Any failure by us or our vendors to comply with product safety, labor, or other laws, or our standard vendor terms and conditions, or to provide safe factory conditions for our or their workers, may damage our reputation and brand, and harm our business.
  • Our use of personal information and other data subjects us to privacy laws and obligations, and our compliance with or failure to comply with such obligations could harm our business.
  • Unfavorable changes or failure by us to comply with evolving internet and eCommerce regulations could substantially harm our business and operating results.
  • If the use of “cookie” tracking technologies is further restricted, regulated, or blocked, or if changes in technology cause cookies to become less reliable or acceptable as a means of tracking consumer behavior, the amount or accuracy of internet user information we collect would decrease, which could harm our business and operating results.
  • If we cannot successfully protect our intellectual property, our business would suffer.
  • We may be accused of infringing intellectual property rights of third parties.
  • Changes in U.S. tax or tariff policy regarding apparel produced in other countries could adversely affect our business.
  • We could be required to collect additional sales taxes or be subject to other tax liabilities that may increase the costs our clients would have to pay for our offering and adversely affect our operating results.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • The market price of our Class A common stock may continue to be volatile or may decline steeply or suddenly regardless of our operating performance and we may not be able to meet investor or analyst expectations. You may lose all or part of your investment.
  • Future sales of shares by existing stockholders could cause our stock price to decline.
  • The dual class structure of our common stock concentrates voting control with our executive officers, directors and their affiliates, and may depress the trading price of our Class A common stock.
  • We do not currently intend to pay dividends on our Class A common stock and, consequently, your ability to achieve a return on your investment will depend on appreciation of the value of our Class A common stock.
  • Delaware law and provisions in our amended and restated certificate of incorporation and amended and restated bylaws could make a merger, tender offer, or proxy contest difficult, thereby depressing the trading price of our Class A common stock.
  • Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware and the federal district courts of the United States are the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
  • If we are unable to maintain effective internal control over financial reporting, investors may lose confidence in the accuracy of our reported financial information and this may lead to a decline in our stock price.
  • We may require additional capital to support business growth, and this capital might not be available or may be available only by diluting existing stockholders.
  • If securities or industry analysts either do not publish research about us or publish inaccurate or unfavorable research about us, our business, or our market, or if they change their recommendations regarding our common stock adversely, the trading price or trading volume of our Class A common stock could decline.
  • Future securities sales and issuances could result in significant dilution to our stockholders and impair the market price of our Class A common stock.
Management Discussion
  • Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
  • You should read the following discussion and analysis of our financial condition and results of operations together with our audited consolidated financial statements and related notes thereto included in Part II, Item 8 of this Annual Report on Form 10-K, or Annual Report. We use a 52- or 53-week fiscal year, with our fiscal year ending on the Saturday that is closest to July 31 of that year. Each fiscal year generally consists of four 13-week fiscal quarters, with each fiscal quarter ending on the Saturday that is closest to the last day of the last month of the quarter. The fiscal years ended July 31, 2021 (“2021”) and August 1, 2020 (“2020”) consisted of 52 weeks. The fiscal year ended August 3, 2019 (“2019”) consisted of 53 weeks. Throughout this Annual Report, all references to quarters and years are to our fiscal quarters and fiscal years unless otherwise noted.
  • In addition, this discussion contains forward-looking statements that reflect our plans, estimates, and beliefs, and involve risks and uncertainties. Our actual results and the timing of certain events could differ materially from those anticipated in or implied by these forward-looking statements as a result of several factors, including those discussed in the section titled “Risk Factors” included under Part I, Item 1A and elsewhere in this Annual Report. See “Special Note Regarding Forward-Looking Statements” in this Annual Report.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Good
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