10-Q Filing

REVOLVE GROUP, INC. CIK: 1746618 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-031492`
Period End Date	20190630
Filing Date	20190812
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	rvlv-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 79 Cash Flow Statement 57 Comprehensive Income 20

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.37M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.34M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.37M	USD	Point-in-time
Inventory	`InventoryNet`	$102.22M	USD	Point-in-time
Inventory	`InventoryNet`	$102.53M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.14M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$15.23M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$25.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$139.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$182.27M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$14.24M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.91M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$403.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$564.00K	USD	Point-in-time
Goodwill	`Goodwill`	$2.04M	USD	Point-in-time
Goodwill	`Goodwill`	$2.04M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$731.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$695.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$15.92M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$13.68M	USD	Point-in-time
Total assets	`Assets`	$215.56M	USD	Point-in-time
Total assets	`Assets`	$162.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$29.69M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$917.00K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$881.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$18.40M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$22.14M	USD	Point-in-time
Returns reserve	`CustomerRefundLiabilityCurrent`	$29.18M	USD	Point-in-time
Returns reserve	`CustomerRefundLiabilityCurrent`	$36.35M	USD	Point-in-time
Returns reserve	`CustomerRefundLiabilityCurrent`	$19.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$13.54M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$15.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$82.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$104.30M	USD	Point-in-time
Accumulated members' equity/ Retained earnings	`RetainedEarningsAccumulatedDeficit`	$38.46M	USD	Point-in-time
Accumulated members' equity/ Retained earnings	`RetainedEarningsAccumulatedDeficit`	$61.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$72.74M	USD	Point-in-time
Total members' equity	`MembersEquityAttributableToNoncontrollingInterest`	$79.82M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$111.26M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$79.82M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$85.72M	USD	Point-in-time
Total liabilities and members/stockholders equity	`LiabilitiesAndStockholdersEquity`	$162.07M	USD	Point-in-time
Total liabilities and members/stockholders equity	`LiabilitiesAndStockholdersEquity`	$215.56M	USD	Point-in-time

Income Statement 79 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$299.24M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$245.11M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$131.80M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$161.90M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$58.47M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$115.34M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$71.48M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$138.07M	USD	2 Qtrs
Gross profit	`GrossProfit`	$129.76M	USD	2 Qtrs
Gross profit	`GrossProfit`	$161.17M	USD	2 Qtrs
Gross profit	`GrossProfit`	$73.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$90.42M	USD	1 Quarter
Fulfillment	`FulfillmentExpense`	$9.80M	USD	2 Qtrs
Fulfillment	`FulfillmentExpense`	$5.30M	USD	1 Quarter
Fulfillment	`FulfillmentExpense`	$3.26M	USD	1 Quarter
Fulfillment	`FulfillmentExpense`	$6.04M	USD	2 Qtrs
Selling and distribution	`SellingExpense`	$23.64M	USD	1 Quarter
Selling and distribution	`SellingExpense`	$44.23M	USD	2 Qtrs
Selling and distribution	`SellingExpense`	$34.52M	USD	2 Qtrs
Selling and distribution	`SellingExpense`	$18.67M	USD	1 Quarter
Marketing	`MarketingExpense`	$21.16M	USD	1 Quarter
Marketing	`MarketingExpense`	$36.51M	USD	2 Qtrs
Marketing	`MarketingExpense`	$44.41M	USD	2 Qtrs
Marketing	`MarketingExpense`	$24.91M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$38.10M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$31.09M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$16.14M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$18.84M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$72.69M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$108.17M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$136.54M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$59.24M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$14.09M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$17.73M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$24.63M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$21.60M	USD	2 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-123.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-444.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-660.00K	USD	2 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-320.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.28M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.28M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$23.97M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.97M	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	$5.48M	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	$3.50M	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	$6.27M	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	$4.54M	USD	1 Quarter
Net income	`ProfitLoss`	$15.80M	USD	2 Qtrs
Net income	`ProfitLoss`	$12.74M	USD	1 Quarter
Net income	`ProfitLoss`	$17.70M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.47M	USD	1 Quarter
Less: Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-47.00K	USD	2 Qtrs
Net income attributable to Revolve Group, Inc.	`NetIncomeLoss`	$15.85M	USD	2 Qtrs
Net income attributable to Revolve Group, Inc.	`NetIncomeLoss`	$10.47M	USD	1 Quarter
Net income attributable to Revolve Group, Inc.	`NetIncomeLoss`	$17.70M	USD	2 Qtrs
Net income attributable to Revolve Group, Inc.	`NetIncomeLoss`	$12.74M	USD	1 Quarter
Less: Repurchase of Class B common stock upon corporate conversion	`RepurchaseOfCommonStock`	$40.82M	USD	2 Qtrs
Less: Repurchase of Class B common stock upon corporate conversion	`RepurchaseOfCommonStock`	$40.82M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$15.85M	USD	2 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-28.07M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$10.47M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-23.11M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.24	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.57	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.51	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.15	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.23	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.57	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.51	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	41.94M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	49.02M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	41.94M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	45.48M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.29M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	45.48M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.39M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.02M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$15.80M	USD	2 Qtrs
Net income	`ProfitLoss`	$12.74M	USD	1 Quarter
Net income	`ProfitLoss`	$17.70M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.47M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.58M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.46M	USD	2 Qtrs
Equity-based compensation	`ShareBasedCompensation`	$512.00K	USD	2 Qtrs
Equity-based compensation	`ShareBasedCompensation`	$1.03M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.24M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.41M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$278.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.04M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$13.18M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$6.06M	USD	2 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$1.14M	USD	2 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-3.59M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$704.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$271.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$107.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-36.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.47M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.97M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-36.00K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.14M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$4.21M	USD	2 Qtrs
Returns reserve	`IncreaseDecreaseCustomerRefundLiabilityCurrent`	$7.17M	USD	2 Qtrs
Returns reserve	`IncreaseDecreaseCustomerRefundLiabilityCurrent`	$9.31M	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$2.46M	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$449.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.63M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$22.68M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.08M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.76M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.08M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.76M	USD	2 Qtrs
Proceeds from initial public offering, net of underwriting discounts paid	`ProceedsFromIssuanceInitialPublicOffering`	$57.08M	USD	2 Qtrs
Repurchase of Class B common stock upon corporate conversion	`PaymentsForRepurchaseOfCommonStock`	$40.82M	USD	2 Qtrs
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	$15.10M	USD	2 Qtrs
Payment of deferred offering costs	`PaymentsOfStockIssuanceCosts`	$726.00K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.54M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.10M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.00K	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-35.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.41M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$28.48M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$44.84M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.37M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.59M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$20.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$20.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$44.84M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.37M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.59M	USD	Point-in-time
Interest	`InterestPaidNet`	$87.00K	USD	2 Qtrs
Income taxes, net of refund	`IncomeTaxesPaidNet`	$355.00K	USD	2 Qtrs
Income taxes, net of refund	`IncomeTaxesPaidNet`	$9.67M	USD	2 Qtrs
Deferred offering costs accrued, unpaid	`LiabilitiesAssumed1`	$603.00K	USD	2 Qtrs

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$15.80M	USD	2 Qtrs
Net income	`ProfitLoss`	$12.74M	USD	1 Quarter
Net income	`ProfitLoss`	$17.70M	USD	2 Qtrs
Net income	`ProfitLoss`	$10.47M	USD	1 Quarter
Cumulative translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$13.00K	USD	2 Qtrs
Cumulative translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-130.00K	USD	1 Quarter
Cumulative translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-35.00K	USD	2 Qtrs
Cumulative translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-35.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$13.00K	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$-35.00K	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$-130.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$12.61M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$10.47M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$15.76M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$17.72M	USD	2 Qtrs
Less: Comprehensive loss attributable to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-47.00K	USD	2 Qtrs
Total comprehensive income attributable to Revolve Group, Inc.	`ComprehensiveIncomeNetOfTax`	$10.47M	USD	1 Quarter
Total comprehensive income attributable to Revolve Group, Inc.	`ComprehensiveIncomeNetOfTax`	$15.81M	USD	2 Qtrs
Total comprehensive income attributable to Revolve Group, Inc.	`ComprehensiveIncomeNetOfTax`	$12.61M	USD	1 Quarter
Total comprehensive income attributable to Revolve Group, Inc.	`ComprehensiveIncomeNetOfTax`	$17.72M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.