Chewy, Inc.
For the period ended Feb 2, 2025. Filed Mar 26, 2025.
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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.
FY2025 · Filed Mar 26, 2025
CHWY$22.86-0.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Fiscal Year | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net income | $392,738 | $39,580 | $49,899 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 114,557 | 109,693 | 83,440 |
| Share-based compensation expense | 306,435 | 239,107 | 158,122 |
| Non-cash lease expense | 32,951 | 37,818 | 39,389 |
| Change in fair value of equity warrants and investments | (1,504) | (13,069) | 13,340 |
| Deferred income tax benefit | (257,453) | — | — |
| Unrealized foreign currency losses (gains), net | 1,122 | (391) | — |
| Other | 1,049 | 3,914 | 1,072 |
| Net change in operating assets and liabilities: | |||
| Accounts receivable | (15,069) | (27,072) | (2,573) |
| Inventories | (117,814) | (41,259) | (115,261) |
| Prepaid expenses and other current assets | (14,049) | (50,099) | (10,964) |
| Other non-current assets | 3,543 | (29,942) | 1,114 |
| Trade accounts payable | 71,080 | 71,762 | 147,465 |
| Accrued expenses and other current liabilities | 109,682 | 152,329 | 7,932 |
| Operating lease liabilities | (32,018) | (27,179) | (21,632) |
| Other long-term liabilities | 1,075 | 21,019 | (1,566) |
| Net cash provided by operating activities | 596,325 | 486,211 | 349,777 |
| Cash flows from investing activities | |||
| Capital expenditures | (143,831) | (143,282) | (230,310) |
| Proceeds from sales and maturities of marketable securities | 538,402 | 3,078,000 | 200,000 |
| Purchases of marketable securities | — | (3,221,714) | (543,761) |
| Cash paid for acquisition of business, net of cash acquired | — | (367) | (40,033) |
| Other | — | — | (1,400) |
| Net cash provided by (used in) investing activities | 394,571 | (287,363) | (615,504) |
| Cash flows from financing activities | |||
| Repurchases of common stock | (942,848) | — | — |
| Income taxes paid for, net of proceeds from, parent reorganization transaction | (51,949) | 60,601 | — |
| Payments of secondary offering costs | (1,066) | — | — |
| Principal repayments of finance lease obligations | (866) | (510) | (681) |
| Capital contribution from parent reorganization transaction | — | 21,966 | — |
| Payments for tax sharing agreement with related parties | — | (10,279) | (2,828) |
| Other | (13) | (180) | (3,225) |
| Net cash (used in) provided by financing activities | (996,742) | 71,598 | (6,734) |
| Effect of exchange rate changes on cash and cash equivalents | (621) | 145 | — |
| Net (decrease) increase in cash and cash equivalents | (6,467) | 270,591 | (272,461) |
| Cash and cash equivalents, as of beginning of period | 602,232 | 331,641 | 604,102 |
| Cash and cash equivalents, as of end of period | $595,765 | $602,232 | $331,641 |
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