Overview
- FY25 net revenue rose 16.8% to $2.4 billion as new stores and modest comparable-sales gains lifted results.
- Net income increased to $121.7 million, with adjusted EBITDA at $240.8 million, equal to 10.2% of net revenues.
- Gross profit reached $1.1 billion, though gross margin declined 110 basis points to 45.7% due to product mix and higher freight costs.
- Q4 net revenue grew 8.2% to $648.8 million, with comparable sales up 1.0% and adjusted comparable sales up 2.8%.
- FY26 guidance calls for $2.6–$2.62 billion in net revenue, adjusted EBITDA of $255–$265 million, net income of $113–$121 million, and about 20 new store openings after ending FY25 with 209 locations across 26 states.