Stitch Fix Inc (0L9X.L) Q1 2026 Earnings Report

Stitch Fix Inc’s QQ1 2026 results reflect a resilient top-line expansion amid ongoing investment in the platform and customer acquisition, offset by a still-negative bottom-line as SG&A investments continue to weigh on profitability. Revenue rose year over year by 9.62% and quarter over quarter by 9.93% to $342.1 million, underscored by a gross margin around 43.6% which supports a solid gross profit of $149.3 million. Despite revenue strength, the company posted an EBITDA loss of $6.36 million and a net loss of the same magnitude, with an EPS of ‑$0.05. Cash flow remained positive on an operating basis, producing $10.9 million from operations and generating free cash flow of $5.6 million, contributing to a net cash position (net debt) of approximately ‑$27.5 million after considering debt. The balance sheet shows a sturdy liquidity profile, with cash and short-term investments totaling about $244.2 million and a current ratio near 1.7, while inventory sits at $141.5 million and receivables are not disclosed. Management commentary remains unavailable in the provided data, but the quarter signals progress toward a durable path to profitability if ongoing investments yield improved operating leverage and margin expansion. Given the secular tailwinds for direct-to-consumer e-commerce and Stitch Fix’s data-driven personalization model, the near-term outlook hinges on CAC efficiency, merchandise mix, and the ability to scale profitable customer growth.