Earnings Releases·Nov 3, 2026, 4:15 PM ET

Revolve Group — Third Quarter 2026 Earnings Summary

Net sales grew 20% year-over-year to $355.959 million, driven by 20% growth in both REVOLVE and FWRD segments, though net income declined 27% to $15.524 million and diluted EPS fell to $0.20 from $0.29.
Full-year 2026 gross margin outlook was raised to 53.9%–54.0% (from 53.5%–54.0%), while guidance for G&A expenses was increased to $178.0 million (from $170M–$172M) and effective tax rate raised to 25%–26%.
Operating cash flow turned negative at $(24.334) million compared to $11.818 million provided in the prior year, with free cash flow at $(26.963) million, while inventory rose 23% to $293.3 million.
Strategic initiatives included the launch of the physical REVOLVE Los Angeles store, the REVOLVE Magazine joint venture with Donatella Versace, and a new namesake label, alongside a 14.3% increase in marketing spend to support growth.
Management cites macroeconomic headwinds including tariffs, inflation, and supply chain disruptions as factors influencing the outlook, noting difficult year-over-year comparisons for November and December 2026 due to strong prior-year growth.