Revolve Group Inc
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 27, 2024
RVLV$19.95-1.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities: | |||
| Net income | $28,147 | $58,697 | $99,840 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 5,094 | 4,791 | 4,508 |
| Equity-based compensation | 5,839 | 5,862 | 4,786 |
| Deferred income taxes, net | (5,251) | (5,695) | (5,245) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (6,984) | (782) | (18) |
| Inventories | 11,637 | (43,965) | (75,987) |
| Income taxes receivable | 1,349 | 401 | 7,314 |
| Prepaid expenses and other current assets | (5,649) | (17,760) | (22,221) |
| Other assets | (1,365) | 1,939 | (2,246) |
| Accounts payable | (2,968) | (3,556) | 15,008 |
| Income taxes payable | (229) | 229 | (195) |
| Accrued expenses | 2,448 | 4,367 | 9,166 |
| Returns reserve | 399 | 14,085 | 23,694 |
| Right-of-use lease assets and current and non-current lease liabilities | 3,010 | 1,162 | (448) |
| Other current liabilities | 7,865 | 3,661 | 4,357 |
| Net cash provided by operating activities | 43,342 | 23,436 | 62,313 |
| Investing activities: | |||
| Purchases of property and equipment | (4,198) | (5,167) | (2,195) |
| Net cash used in investing activities | (4,198) | (5,167) | (2,195) |
| Financing activities: | |||
| Proceeds from the exercise of stock options, net | 536 | 887 | 12,766 |
| Repurchases of Class A common stock | (30,913) | — | — |
| Net cash (used in) provided by financing activities | (30,377) | 887 | 12,766 |
| Effect of exchange rate changes on cash and cash equivalents | 1,958 | (2,887) | (442) |
| Net increase in cash and cash equivalents | 10,725 | 16,269 | 72,442 |
| Cash and cash equivalents, beginning of year | 234,724 | 218,455 | 146,013 |
| Cash and cash equivalents, end of year | $245,449 | $234,724 | $218,455 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the period for: | |||
| Income taxes, net of refund | $12,995 | $23,031 | $3,014 |
| Operating leases | $7,012 | $5,858 | $5,321 |
| Supplemental disclosure of non-cash activities: | |||
| Lease assets obtained in exchange for new operating lease liabilities | $20,452 | $21,938 | $1,440 |
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