10-Q Filing

CHEWY, INC. CIK: 1766502 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001766502-23-000026`
Period End Date	20230430
Filing Date	20230531
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	chwy-20230430_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 32 Cash Flow Statement 62 Stockholders Equity 17

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$330.44M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$408.69M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$346.94M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$394.49M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$126.35M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$151.72M	USD	Point-in-time
Inventories	`InventoryNet`	$731.38M	USD	Point-in-time
Inventories	`InventoryNet`	$675.52M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$47.34M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$41.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.52B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.73B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$474.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$478.74M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$447.58M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$423.42M	USD	Point-in-time
Goodwill	`Goodwill`	$39.44M	USD	Point-in-time
Goodwill	`Goodwill`	$39.44M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$42.95M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$53.15M	USD	Point-in-time
Total assets	`Assets`	$2.52B	USD	Point-in-time
Total assets	`Assets`	$2.74B	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$1.03B	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$1.11B	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$738.47M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$779.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.77B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.89B	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$500.58M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$471.76M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$61.93M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$60.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.46B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.30B	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding as of April 30, 2023 and January 29, 2023	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding as of April 30, 2023 and January 29, 2023	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.17B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.22B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.96B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.94B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$58.61M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.74M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$282.37M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$213.96M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.74B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.52B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.43B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.78B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.76B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.99B	USD	1 Quarter
Gross profit	`GrossProfit`	$667.82M	USD	1 Quarter
Gross profit	`GrossProfit`	$791.46M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$504.28M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$583.67M	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$183.73M	USD	1 Quarter
Advertising and marketing	`MarketingAndAdvertisingExpense`	$144.72M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$649.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$767.40M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$24.06M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$18.82M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$8.02M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-344.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-8.89M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$23.18M	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.47M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.18M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.47M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	426.85M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	420.41M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	426.71M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	430.47M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$18.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.18M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.34M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$28.88M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$25.79M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$48.55M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$11.92M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$9.11M	USD	1 Quarter
Change in fair value of equity warrants and investments	`FairValueAdjustmentOfWarrantsAndEquitySecuritiesFVNI`	-	USD	1 Quarter
Change in fair value of equity warrants and investments	`FairValueAdjustmentOfWarrantsAndEquitySecuritiesFVNI`	$8.95M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-234.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-489.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.72M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$25.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$55.86M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$37.77M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$10.72M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$14.25M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.47M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-298.00K	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$73.68M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$82.97M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$39.40M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.88M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-5.34M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-5.22M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$1.92M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$3.47M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$82.43M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$148.39M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$76.02M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$21.57M	USD	1 Quarter
Cash paid for acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Cash paid for acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$367.00K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$394.10M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$350.00M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$1.40M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-77.42M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-66.04M	USD	1 Quarter
Payments for tax sharing agreement with related parties	`ProceedsFromPaymentsForTaxSharingAgreement`	$-3.76M	USD	1 Quarter
Payments for tax sharing agreement with related parties	`ProceedsFromPaymentsForTaxSharingAgreement`	$-675.00K	USD	1 Quarter
Payment of debt modification costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Payment of debt modification costs	`PaymentsOfDebtIssuanceCosts`	$175.00K	USD	1 Quarter
Principal repayments of finance lease obligations	`FinanceLeasePrincipalPayments`	$187.00K	USD	1 Quarter
Principal repayments of finance lease obligations	`FinanceLeasePrincipalPayments`	$174.00K	USD	1 Quarter
Payments for tax withholdings related to vesting of share-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.47M	USD	1 Quarter
Payments for tax withholdings related to vesting of share-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.33M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.11M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.68M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$78.24M	USD	1 Quarter
Cash and cash equivalents, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$603.08M	USD	Point-in-time
Cash and cash equivalents, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$330.44M	USD	Point-in-time
Cash and cash equivalents, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$408.69M	USD	Point-in-time
Cash and cash equivalents, as of beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$604.76M	USD	Point-in-time
Cash and cash equivalents, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$603.08M	USD	Point-in-time
Cash and cash equivalents, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$330.44M	USD	Point-in-time
Cash and cash equivalents, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$408.69M	USD	Point-in-time
Cash and cash equivalents, as of end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$604.76M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$58.61M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$14.74M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$282.37M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$213.96M	USD	Point-in-time
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$25.79M	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$48.55M	USD	1 Quarter
Vesting of share-based compensation awards	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Vesting of share-based compensation awards	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Tax withholdings for share-based compensation awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.47M	USD	1 Quarter
Tax sharing agreement with related parties	`AdjustmentsToAdditionalPaidInCapitalIncreaseDecreaseFromTaxSharingAgreement`	$-2.33M	USD	1 Quarter
Tax sharing agreement with related parties	`AdjustmentsToAdditionalPaidInCapitalIncreaseDecreaseFromTaxSharingAgreement`	$2.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.18M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$58.61M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$14.74M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$282.37M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$213.96M	USD	Point-in-time

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