Loss of $73.8 million! Pet e-commerce Chewy's annual revenue is poor!

It is learned that according to foreign media reports, the US pet e-commerce Chewy recently announced its financial operations for the fourth quarter and full year of fiscal year 2021. The report shows that the company lost $73.8 million in 2021, which was a loss beyond expectations.

1. Revenue highlights for the fourth quarter of 2021

Net sales were $2.39 billion, up 17% year-over-year.

Gross profit margin was 25.4%, down 170 basis points year-on-year;

Net loss was $63.6 million, including $15.8 million of stock-based compensation expense;

Net profit margin was 2.7%, down 370 basis points year-on-year;

Adjusted EBITDA was $28.1 million, down $88.9 million year-over-year;

Adjusted EBITDA margin was 1.2%, down 420 basis points year-over-year.

II. Revenue highlights for fiscal year 2021

Net sales were $8.89 billion, up 24% year-over-year;

Gross profit margin was 26.7%, up 120 basis points year-on-year;

Net loss was $73.8 million, including $85.3 million in stock-based compensation expense;

Net profit margin was 0.8%, up 50 basis points year-on-year;

Adjusted EBITDA was $78.6 million, down $6.6 million year-over-year;

Adjusted EBITDA margin was 0.9%, down 30 basis points year-over-year.

Chewy CEO Sumit Singh said that based on the excess growth achieved in 2020, Chewy achieved strong growth in 2021, with net sales increasing by 24%. This reflects the lasting popularity of the pet industry during the epidemic, and also proves that Chewy has sufficient ability to cope with the ever-changing and turbulent market.

Regarding developments in 2022 and beyond, Sumit Singh further stated that the pet industry is still on the innovation track. He is full of confidence in the company's future development and believes that the growth trend will continue to be optimistic.

Editor ✎ Nicole/

Disclaimer: This article is copyrighted and may not be reproduced without permission.