Chewy generated the first quarter of positive net income of $21.0 million in Q4 2020 and first full year of positive adjusted EBITDA, according to the company’s press release. The positive net income came at the back of 51% year over year growth of net sales in Q4 which reached $2.04 billion.
Chewy’s FY20 net sales were $7.15 billion, up 47% year over year.
Q4 gross margin was 27.1%, up 300 basis points year over year
FY20 gross margin was 25.5%, up 190 basis points year over year.
The company recorded a net loss of $92.5 million for FY20 despite positive net income in the fourth quarter.
Q4 adjusted EBITDA was $60.8 million, up $66.6 million year over year.
FY20 EBITDA was $85.2 million, up $166.2 million year over year.
Chewy increased its customer base by 43% year over year
Chewy stock is currently gaining. CHWY: NYSE is up 13.83% on premarket.
