Revolve Group has shown impressive growth in the third quarter of 2024, with net sales increasing by 10 per cent year-over-year to US $ 283.1 million. The company continued to increase its sales in October, with net sales rising by a low-double-digit percentage. Co-founder and co-CEO Mike Karanikolas highlighted double-digit top-line growth, showcasing a significant rise in net income and an 85 per cent increase in adjusted EBITDA compared to the previous year.
Active customers for the year-to-date period grew by 5 per cent year-over-year to 2.63 million. Gross profit for the quarter rose by 9 per cent to US $ 144.9 million, while the gross margin stood at 51.2 per cent. Net income increased to US $ 10.8 million. Adjusted EBITDA surged to US $ 17.5 million, reflecting strong operational performance.
The Revolve segment achieved net sales of US $ 243.4 million, a 12 per cent increase, while FWRD segment net sales remained flat at US $ 39.7 million. Domestic sales grew by 7 per cent to US $ 222.7 million, and international sales increased by 20 per cent to US $ 60.5 million, driven by robust growth across major regions.
Co-founder and co-CEO Michael Mente attributed the results to effective execution of growth and efficiency strategies, which have sustained the company’s sales momentum into the fourth quarter of 2024.
