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REVOLVE - Revolve Group Announces Third Quarter 2021 Financial Results Los Angeles , CA – November 3 , 2021 - Revolve Group , Inc. ( NYSE : RVLV ) , the next - generation fashion retailer for Millennial and Generation Z consumers , today announced financial results for the third quarter ended September 30 , 2021 . " We delivered record quarterly net sales in the third quarter of 2021 , highlighted by growth of 62 % over the prior year and 58 % over the third quarter of 2019 , a meaningful acceleration from the 41 % growth reported for the second quarter of 2021 over the second quarter of 2019 , " said co - founder and co - CEO Mike Karanikolas . " I'm also excited to see the clear signs of increased customer engagement in the third quarter , including record quarterly growth in Active Customers . " " Our third quarter results reinforce our conviction that our competitive strengths will enable us to continue to thrive as we transition to a post - pandemic world , " said co - founder and co - CEO Michael Mente . " Our current momentum and the strength of our brands is broad based across both REVOLVE and FWRD . We are particularly excited by our recent announcement that Kendall Jenner is serving as FWRD's Creative Director . Kendall brings incredible creativity and passion to the role that we believe will extend our reach and appeal to a broader audience of next generation luxury consumers than ever before . " Third Quarter 2021 Financial Summary Three Months Ended September 30 , 2021 2020 YoY Change 2019 ( 1 ) ( in thousands ) Net sales $ 244,064 $ 151,036 62 % $ 154,197 Gross profit $ 134,476 $ 83,467 61 % $ 82,678 Gross margin 55.1 % 55.3 % 53.6 % Net income $ 16,668 $ 19,438 ( 14 % ) $ 9,559 Adjusted EBITDA ( non - GAAP financial measure ) $ 21,666 $ 24,025 ( 10 % ) $ 14,438 Net cash provided by operating activities $ Free cash flow ( non - GAAP financial measure ) $ 1,340 1,855 $ $ 14,340 ( 87 % ) $ 9,150 13,877 ( 90 % ) $ 7,448 Operational Metrics 2021 Three Months Ended September 30 , YoY Change 2020 ( in thousands , except average order value ) 2019 ( 1 ) Active customers ( trailing 12 months ) 1,678 1,504 12 % 1,438 Orders placed 1,830 1,141 60 % 1,194 Average order value 276 $ 232 19 % $ 275 ( 1 ) Because the COVID - 19 pandemic had a materially negative impact on our results in the third quarter of 2020 , we are also providing results for the third quarter of 2019 as supplemental information that may provide a useful reference point for investors .