Chewy Announces Fiscal Fourth Quarter and Full Year 2021 Financial Results

Chewy, Inc., a trusted destination for pet parents and partners everywhere, has released its financial results for the fiscal fourth quarter and full year 2021 ended Jan. 30, 2022 and posted a letter to its shareholders on its investor relations website.

Fiscal Q4 2021 Highlights:

• Net sales of $2.39 billion improved 17 percent year over year
• Gross margin of 25.4 percent declined 170 basis points year over year
• Net loss of $63.6 million, including share-based compensation expense of $15.8 million
• Net margin of (2.7) percent declined 370 basis points year over year
• Adjusted EBITDA⁽¹⁾ of $(28.1) million, a decline of $88.9 million year over year
• Adjusted EBITDA margin⁽¹⁾ of (1.2) percent declined 420 basis points year over year

Fiscal 2021 Highlights:

• Net sales of $8.89 billion improved 24 percent year over year
• Gross margin of 26.7 percent expanded 120 basis points year over year
• Net loss of $73.8 million, including share-based compensation expense of $85.3 million
• Net margin of (0.8) percent expanded 50 basis points year over year
• Adjusted EBITDA⁽¹⁾ of $78.6 million, a decline of $6.6 million year over year
• Adjusted EBITDA margin⁽¹⁾ of 0.9 percent declined 30 basis points year over year

“Our ability to deliver 24 percent net sales growth in 2021, on top of the outsized growth we delivered last year, reflects the durability of our business and the Pet category beyond the near-term benefits of the pandemic and is a strong testament to Chewy’s ability to execute in the face of rapidly evolving macro conditions,” said Sumit Singh, Chief Executive Officer of Chewy. “Net sales per active customer or NSPAC, of $430 is a new company high and demonstrates strong customer loyalty and engagement on our platform, as well as our ability to steadily grow share of wallet. As we look to 2022 and beyond, our innovation pipeline remains robust, our strategy remains intact, and we remain optimistic about the growth opportunity ahead of us.”

Management will host a conference call and webcast to discuss Chewy’s financial results today at 5 pm ET.

Chewy Fiscal Fourth Quarter and Full Year 2021 Financial Results Conference Call
When: Tuesday, March 29, 2022
Time: 5 pm ET
Conference ID: 038970
Live Call: 1-844-200-6205 (US Toll-Free), 1-833-950-0062 (Canada Toll-Free) or +1-929-526-1599 (International Toll-Free)
Replay: 1-866-813-9403 (US Toll-Free) or +44-204-525-0658 (International Toll-Free)
Replay Access Code: 717324
(The replay will be available approximately two hours after the completion of the live call until 11:59 pm ET on April 5, 2022). For the webcast, click here.