Revolve Group, Inc. (NYSE:RVLV) Q1 2023 Earnings Conference Call May 3, 2023 4:30 PM ET
Company Participants
Erik Randerson - VP, IR
Michael Karanikolas - Co-Founder, Co-CEO & Chairman
Michael Mente - Co-Founder, Co-CEO & Director
Jesse Timmermans - CFO
Conference Call Participants
Oliver Chen - TD Cowen
Mark Altschwager - Robert W. Baird & Co.
Randal Konik - Jefferies
Tom Nikic - Wedbush Securities
Matthew Koranda - ROTH MKM
Janine Stichter - BTIG
Charles Tevebaugh - Needham & Company
Simeon Siegel - BMO Capital Markets
Rakesh Patel - Raymond James & Associates
Edward Yruma - Piper Sandler & Co.
Lorraine Hutchinson - Bank of America Merrill Lynch
James Duffy - Stifel, Nicolaus & Company
Operator
Good day, everyone. My name is Lisa, and I will be your conference operator today. At this time, I would like to welcome everyone to Revolve's First Quarter 2023 Earnings Conference Call. [Operator Instructions].
At this time, I would like to turn the conference over to Erik Randerson, Vice President of Investor Relations at Revolve. Thank you. You may begin.
Erik Randerson
Good afternoon, everyone, and thanks for joining us to discuss Revolve's first quarter 2023 results. Before we begin, I'd like to mention we have posted a presentation containing Q1 financial highlights to our Investor Relations website located at investors.revolve.com.
I would also like to remind you that this conference call will include forward-looking statements, including statements related to various business operations and marketing initiatives and investments, our inventory balance and management, economic conditions and their impact on consumer demand, the impact of our new fulfillment centers, our future growth and profitability, market opportunities, macroeconomic and industry trends and our outlook for net sales, gross margin, operating expenses and effective tax rate.
These statements are subject to various risks, uncertainties and assumptions that could cause our actual results to differ materially from these statements including the risks mentioned in this afternoon's press release as well as other risks and uncertainties disclosed under the caption Risk Factors and elsewhere in our filings with the Securities and Exchange Commission, including, without limitation, our annual report on Form 10-K for the year ended December 31, 2022, and our subsequent quarterly reports on Form 10-Q, all of which can be found on our website at investors.revolve.com. We undertake no obligation to revise or update any forward-looking statements or information, except as required by law.
During our call today, we will also reference certain non-GAAP financial information, including adjusted EBITDA and free cash flow. We use non-GAAP measures in some of our financial discussions as we believe they provide valuable insights on our operational performance and underlying operating results. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for or superior to the financial information prepared and presented in accordance with GAAP. And our non-GAAP measures may be different from non-GAAP measures used by other companies. Reconciliations of non-GAAP measures to GAAP measures as well as the definitions of each measure, their limitations and our rationale for using them can be found in this afternoon's press release and in our SEC filings.