RVLV

MKT CAP:$2B

Revolve Group, Inc.

Market Cap

$2B

Consumer Cyclical·Specialty Retail·🇺🇸 United States·NYSE

Consumer Cyc.·Specialty Retail·🇺🇸·NYSE

Stock Price

$26.45-$3.11 (-10.52%)

Apr 23, 2026

Company Details

Revolve Group, Inc. operates as an online fashion retailer for consumers in the United States and internationally. The company operates in two segments, REVOLVE and FWRD. It operates a platform that connects consumers and global fashion inf...

CEO

Michael Karanikolas

IPO Date

Jun 7, 2019

Website

www.revolve.com

Key Metrics TTM

Revenue

$1.2B

+13.4% YoY

Net Income

$61M

EPS (Diluted)

$0.84

Free Cash Flow

$10M

Revenue / Share

$16.81

Gross Margin

53.3%

Operating Margin

6.1%

Net Margin

5.0%

FCF Margin

0.9%

P/S

1.6x

P/E

31.4x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

Q4 2025

Feb 25, 2026

$324MEPS $0.26

Q3 2025

Nov 4, 2025

$296M+4.4%EPS $0.29

Q2 2025

Aug 5, 2025

$309M+9.4%EPS $0.14

Q3 2024

Nov 5, 2024

$283M+9.9%EPS $0.15

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$244M	$134M	$19M
Q4 21	$240M	$131M	$32M
Q1 22	$283M	$154M	$28M
Q2 22	$290M	$162M	$19M
Q3 22	$269M	$142M	$15M
Q4 22	$259M	$133M	$11M
Q1 23	$280M	$139M	$12M
Q2 23	$274M	$148M	$7M
Q3 23	$258M	$133M	$324.0K
Q4 23	$258M	$134M	$2M
Q1 24	$271M	$142M	$9M
Q2 24	$282M	$153M	$16M
Q3 24	$283M	$145M	$14M
Q2 25	$309M	$167M	$18M
Q3 25	$296M	$162M	$21M
Q4 25	$324M	$173M	$21M

Valuation

Quarter	P/S	P/E
Q3 21	2.4x	21.4x
Q4 21	2.1x	19.1x
Q1 22	1.9x	19.1x
Q2 22	1.8x	22.5x
Q3 22	1.8x	23.8x
Q4 22	1.7x	32.5x
Q1 23	1.7x	38.0x
Q2 23	1.8x	46.2x
Q3 23	1.8x	58.7x
Q4 23	1.8x	67.9x
Q1 24	1.8x	76.9x
Q2 24	1.8x	58.0x
Q3 24	1.7x	46.9x
Q2 25	1.7x	40.3x
Q3 25	1.6x	33.1x
Q4 25	1.6x	31.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$2M	$1M
Q4 21	-$6M	-$7M
Q1 22	$54M	$53M
Q2 22	-$29M	-$31M
Q3 22	$10M	$9M
Q4 22	-$11M	-$12M
Q1 23	$49M	$48M
Q2 23	-$14M	-$15M
Q3 23	$12M	$11M
Q4 23	-$4M	-$5M
Q1 24	$38M	$37M
Q2 24	-$25M	-$26M
Q3 24	$9M	$8M
Q2 25	$13M	$10M
Q3 25	$12M	$5M
Q4 25	-$10M	-$13M

Capital Expenditures

Quarter	CapEx
Q3 21	$515.0K
Q4 21	$427.0K
Q1 22	$1M
Q2 22	$1M
Q3 22	$1M
Q4 22	$1M
Q1 23	$1M
Q2 23	$972.0K
Q3 23	$994.0K
Q4 23	$1M
Q1 24	$2M
Q2 24	$1M
Q3 24	$1M
Q2 25	$2M
Q3 25	$7M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+61.6%	+74.0%
Q4 21	+70.4%	+67.4%
Q1 22	+58.5%	+61.7%
Q2 22	+26.9%	+38.4%
Q3 22	+10.1%	+12.9%
Q4 22	+8.1%	+19.5%
Q1 23	-1.4%	+4.8%
Q2 23	-5.6%	-1.6%
Q3 23	-4.1%	+1.3%
Q4 23	-0.5%	+2.9%
Q1 24	-3.2%	-2.3%
Q2 24	+3.2%	-0.1%
Q3 24	+9.9%	+4.5%
Q2 25	+19.9%	+13.8%
Q3 25	+9.3%	+5.1%
Q4 25	+14.8%	+14.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$1M	0.5%
Q4 21	$1M	0.5%
Q1 22	$1M	0.5%
Q2 22	$1M	0.5%
Q3 22	$2M	0.6%
Q4 22	$1M	0.6%
Q1 23	$1M	0.5%
Q2 23	$2M	0.6%
Q3 23	$1M	0.5%
Q4 23	$2M	0.6%
Q1 24	$3M	0.9%
Q2 24	$2M	0.7%
Q3 24	$2M	0.7%
Q2 25	$2M	0.7%
Q3 25	$2M	0.8%
Q4 25	$3M	1.0%

OpEx Breakdown

Quarter	G&A	S&M
Q3 21	$24M	$85M
Q4 21	$23M	$70M
Q1 22	$27M	$92M
Q2 22	$31M	$104M
Q3 22	$37M	$91M
Q4 22	$29M	$85M
Q1 23	$28M	$90M
Q2 23	$38M	$102M
Q3 23	$35M	$89M
Q4 23	$35M	$88M
Q1 24	$33M	$90M
Q2 24	$33M	$93M
Q3 24	$34M	$87M
Q2 25	$38M	$101M
Q3 25	$39M	$52M
Q4 25	$42M	—

Revenue Segments

Quarter	Beauty	Dresses	Fashion Apparel	Handbags Shoes And Accessories	Manufactured Product Other	Manufactured Product, Other
Q3 21	$7M	$70M	$120M	$45M	$1M	—
Q2 25	$13M	$95M	$134M	$63M	—	$5M
Q3 25	$12M	$91M	$129M	$58M	—	$5M

Revenue by Geography

Quarter	Rest Of The World	United States
Q3 21	$46M	$199M
Q2 25	$67M	$242M
Q3 25	$64M	$231M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$271M	$0	$271M
Q2 22	$238M	$0	$238M
Q3 22	$244M	$0	$244M
Q4 22	$235M	$0	$235M
Q1 23	$283M	$0	$283M
Q2 23	$269M	$0	$269M
Q3 23	$267M	$0	$267M
Q4 23	$245M	$0	$245M
Q1 24	$273M	$0	$273M
Q2 24	$245M	$0	$245M
Q3 24	$253M	$0	$253M
Q4 24	$257M	$0	$257M
Q1 25	$301M	$0	$301M
Q2 25	$311M	$0	$311M
Q3 25	$315M	$0	$315M
Q4 25	$292M	$0	$292M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	75M	+0.6%	+3.6%
Q4 21	75M	-0.1%	+3.4%
Q1 22	75M	-0.0%	+1.0%
Q2 22	75M	-0.2%	+0.3%
Q3 22	74M	-0.4%	-0.7%
Q4 22	74M	-0.1%	-0.7%
Q1 23	74M	+0.1%	-0.6%
Q2 23	74M	-0.4%	-0.7%
Q3 23	74M	-0.5%	-0.9%
Q4 23	72M	-2.1%	-2.8%
Q1 24	72M	-0.9%	-3.8%
Q2 24	72M	+0.0%	-3.4%
Q3 24	72M	-0.0%	-3.0%
Q2 25	72M	+0.5%	-0.4%
Q3 25	72M	+0.1%	+0.7%
Q4 25	72M	+0.1%	+0.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$289.5K	843
Q4 21	$222.5K	1K
Q1 22	$263.0K	1K
Q2 22	$269.1K	1K
Q3 22	$249.3K	1K
Q4 22	$187.2K	1K
Q1 23	$202.0K	1K
Q2 23	$197.8K	1K
Q3 23	$186.1K	1K
Q4 23	$174.4K	1K
Q1 24	$183.1K	1K
Q2 24	$191.1K	1K
Q3 24	$191.6K	1K
Q2 25	$189.3K	2K
Q3 25	$181.1K	2K
Q4 25	$194.9K	2K

Revenue / Employee