v3.24.1.u1
Segment Information
3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Information

Note 9. Segment Information

We have two reportable segments, REVOLVE and FWRD, each offering apparel, shoes, accessories, and beauty products available for sale to customers through their respective websites and mobile applications. Our reportable segments have been identified based on how our chief operating decision makers manage our business, make operating decisions and evaluate operating performance. Our chief operating decision makers are our co-chief executive officers. We evaluate the performance of our reportable segments based on net sales and gross profit. Management does not evaluate the performance of our reportable segments using asset measures. During the three months ended March 31, 2024 and 2023, no customer represented over 10% of net sales.

The following tables summarize our net sales and gross profit for each of our reportable segments (in thousands):

 

 

 

Three Months Ended March 31,

 

Net sales

 

2024

 

 

2023

 

REVOLVE

 

$

229,589

 

 

$

231,653

 

FWRD

 

 

40,992

 

 

 

47,956

 

Total

 

$

270,581

 

 

$

279,609

 

 

Gross profit

 

 

 

 

 

 

REVOLVE

 

$

127,672

 

 

$

120,236

 

FWRD

 

 

13,830

 

 

 

18,984

 

Total

 

$

141,502

 

 

$

139,220

 

 

The following table presents net sales by geographic area (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

United States

 

$

219,133

 

 

$

226,716

 

Rest of the world (1)

 

 

51,448

 

 

 

52,893

 

Total

 

$

270,581

 

 

$

279,609

 

 

(1) No individual country exceeded 10% of total net sales for any period presented.

 

The following tables summarize net sales (in thousands) and percentage of net sales by product category for the three months ended March 31, 2024 and 2023:

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Net Sales

 

 

 

 

 

 

Fashion Apparel

 

$

121,787

 

 

$

126,236

 

Dresses

 

 

78,893

 

 

 

80,013

 

Handbags, Shoes and Accessories

 

 

55,967

 

 

 

62,486

 

Beauty

 

 

12,437

 

 

 

9,290

 

Other (1)

 

 

1,497

 

 

 

1,584

 

Total net sales

 

$

270,581

 

 

$

279,609

 

 

 

 

 

 

 

 

As a percentage of net sales

 

 

 

 

 

 

Fashion Apparel

 

 

45

%

 

 

45

%

Dresses

 

 

29

%

 

 

29

%

Handbags, Shoes and Accessories

 

 

21

%

 

 

22

%

Beauty

 

 

5

%

 

 

3

%

Other (1)

 

 

0

%

 

 

1

%

Total net sales

 

 

100

%

 

 

100

%

 

(1)
Includes deferred revenue, shipping revenue and other revenue.