revenue
322–327 $million
Q4 2026
official guidance
STITCH FIX, INC.
Last · NasdaqGS$2.445-0.255 (-9.44%)stale · yahoo · 36h ago
Market cap$326.66M118.5M sh
P/E · TTM-29.8fwd -48.9 · eps -0.09 · loss
Beta—vs S&P 500
Div yield0.00%annual · TTM
52w range
$2.10$5.745
Volume2.2Msession
| Revenue | $1.3B |
|---|---|
| Operating income | $-21.7M |
| Net income | $-12.6M |
| Free cash flow | $19.8M |
| Operating margin | -1.6% |
| Net margin | -0.9% |
| Return on equity | -6.4% |
| Period | 2026 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
Improving operating trends are offset by modest revenue growth, thin margins, and no year-over-year active-client growth yet.
Hold.
Stitch Fix delivered solid execution—Q3 revenue rose 4.7% to $340.3 million, active clients increased sequentially to 2.3 million, gross margin was 43.7%, and adjusted EBITDA was $13.2 million—but the recovery remains incomplete because active clients are not yet growing year over year and Q4 EBITDA guidance implies only $7–10 million. The improved FY26 outlook and $229.4 million of cash with no debt support the downside, but thin profitability and the still-unproven return to durable client growth do not yet justify a buy.
Themes
- Active Clients
- Rpac Growth
- Larger Fix
- Ai Personalization
- Stitch Fix Vision
- Category Expansion
Near term
Q4 revenue guidance of $322–327 million and adjusted EBITDA of $7–10 million will test whether Q3 momentum holds in a more challenged consumer environment.
Inventory rose 15.6% year over year to $132.2 million, increasing the importance of demand conversion and disciplined markdown management.
Share repurchases could support per-share results, but $15.1 million was spent in Q3 while the business remains only marginally profitable.
Longer term
Management targets a return to year-over-year active-client growth in FY27; this is the clearest validation point for the turnaround.
Higher Fix AOV, RPAC growth, Larger Fix adoption, and expansion into activewear, footwear, accessories, and private brands could support wallet-share gains if client retention remains durable.
Stitch Fix Vision users generated over a 100% lift in Freestyle spend over 90 days, but the call did not quantify adoption, incremental profit, or whether the lift is causal.
The competitive moat remains only partly proven: management cited proprietary data, AI, and human Stylists, but no analyst Q&A was provided to pressure-test differentiation against broader retail personalization and AI shopping tools.
Red flags
Active-client growth is still sequential rather than year over year; management’s FY27 recovery goal remains forward-looking.
Q4 adjusted EBITDA guidance of $7–10 million is materially below Q3’s $13.2 million, leaving limited margin for consumer or inventory volatility.
The approximately $1 billion incremental-revenue opportunity from new categories is a management estimate and was not supported by a detailed timeline, required investment, or conversion assumptions.
No analyst Q&A was included, so there is no evidence that management addressed competitive displacement, AI commoditization, or the sustainability of retention improvements.
Forward outlook
adjusted eps
—
Q4 2026
official guidance
ebitda
7–10 $million
Q4 2026
official guidance
revenue
1346–1351 $million
FY 2026
official guidance
ebitda
49–52 $million
FY 2026
official guidance
gross margin
43–44 pct
FY 2026
official guidance
Recommendation history
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
From latest 10-K · 2026-09-24
- Revenue Growth
- Client Retention
- Adjusted Ebitda
- Free Cash Flow
- Gaap Loss
- Tariff Risk
- Securities Litigation
- Stock Based Compensation
Red flags
- Active clients fell 1.4% year over year to 2.277 million, which management attributed largely to client conversion and retention challenges.
- The company recorded a $12.6 million net loss from continuing operations despite $53.4 million of adjusted EBITDA; stock-based compensation was $46.4 million, nearly four times the GAAP loss.
- Weighted-average shares increased to 134.2 million from 128.8 million in fiscal 2025, while 16.3 million additional potentially dilutive securities were excluded because they were antidilutive.
- The company agreed to a $32.0 million settlement of the securities class action and incurred $4.2 million of non-ordinary-course legal fees in fiscal 2026.
Upcoming earnings
9:00 PM UTC+1
Period
Oct 2026
Est. EPS
−$0.06
Est. revenue
326.2M
Earnings transcripts
- Issuer IR
Q4 2026 earnings call transcript
STITCH FIX, INC.
- Motley Fool
Stitch Fix (SFIX) Q4 2026 Earnings Call Transcript
STITCH FIX, INC.
- Issuer webcast
Q4 2026 earnings call transcript
STITCH FIX, INC.
- Issuer IR
Transcript of Q3 2026, PDF file
STITCH FIX, INC.
- Issuer webcast
Q3 2026 earnings call transcript
STITCH FIX, INC.
- Issuer IR
Q3 2026 earnings call transcript
STITCH FIX, INC.
Documents
FormReporting forFiledFlags