Short answer
Stitch Fix, Inc. (SFIX) filed its fiscal 2026 10-K annual report with the SEC on Sep 24, 2026. It reported revenue of $1.3B (+6.4% year over year) and net income of −$13M.
- Top risk flagged: Legal risk: $32M settlement pending court approval for Securities Class Action alleging misleading Freestyle offering statements
FY2026 key financial metrics · XBRL
- Revenue
- $1.3B
- +6.4% YoY
- Net income
- −$13M
- +56.1% YoY
- Operating margin
- -1.6%
- +1.5 pp YoY
- Gross margin
- 43.7%
- −0.8 pp YoY
- EPS (diluted)
- −$0.09
- +59.1% YoY
- ROE
- -6.4%
- +7.7 pp YoY
- Operating cash flow
- $39M
- +52.8% YoY
Source: XBRL data from the Stitch Fix, Inc. (SFIX) FY2026 10-K on SEC EDGAR. USD.
Stitch Fix, Inc. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Personalized online styling service combining expert Stylists with AI-driven recommendation algorithms for apparel and accessories
- Emphasis on AI tools in styling, including virtual try-on features and real-time personalized outfit recommendations
- Strategic exit from UK market in fiscal 2024, refocusing solely on U.S. operations
- Active client base of approximately 2,277,000 as of August 1, 2026, with 4,240 employees including 1,575 Stylists and 1,830 fulfillment workers
- Over 100 million Fixes delivered since inception, highlighting scalability of data-driven, client-focused styling model
Management Discussion & Analysis
- Revenue $1,348.1M, up 6.4% YoY ($80.9M increase), active clients down 1.4% to 2.277M
- Gross margin 43.7% vs 44.4%, operating loss (1.6%) vs (3.1%), net loss from continuing ops $12.6M vs $28.8M
- Best segment: net revenue per active client $592, up 7.8% YoY; worst: active clients declined 1.4%
- Free cash flow $19.8M vs $9.3M, capex $19.2M, share repurchases $26.4M, dividends not disclosed
- Management expects macroeconomic pressure and consumer spending weakness to impact fiscal 2027 results
Risk Factors
- Legal risk: $32M settlement pending court approval for Securities Class Action alleging misleading Freestyle offering statements
- Macroeconomic threat: Consumer discretionary spending down amid inflation, reducing active clients and revenue through fiscal 2026
- Supply chain vulnerability: Majority merchandise sourced from China; tariffs and Xinjiang cotton ban raise costs, causing shipping delays and inventory risks
- Competitive risk: Competitors leveraging advanced AI for shopping experience improvements may erode Stitch Fix’s market share and client engagement
- Financial risk: $543M total federal and state net operating loss carryforwards subject to future utilization limitations, potentially increasing tax liabilities
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