RVLV — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-11-03

• A reconciliation of Adjusted EBITDA to net income for the three and nine months ended September 30, 2026 and 2025 is as follows:

• Average order value varies depending on the site through which we sell merchandise, the percentage of sales at full price, and for sales at less than full price, the level of markdowns on these products, product mix, and the number of units per order. Average order value can be adversely impacted by…

• The FWRD segment contributes to a smaller portion of our overall net sales, representing 13.8% and 13.9% of our net sales for the three months ended September 30, 2026 and 2025, respectively, and 13.7% of our net sales for both the nine months ended September 30, 2026 and 2025. During the three mont…

• September 30, 2026, as compared to the same periods in 2025, was primarily due to an increase in the number of orders shipped and a lower proportion of returned purchases, partially offset by a decrease in average order value.

• Comparison of the Three Months Ended September 30, 2026 and 2025

Text removed vs the prior filing · source: 10-Q · 2026-08-04

• In the near-term, Adjusted EBITDA may be adversely impacted by the lowering of gross margin as a result of the increased level of tariff rates, though any long-term impact remains unclear. See the section titled “—Factors Affecting Our Performance—Overall Economic Trends.”

• A reconciliation of Adjusted EBITDA to net income for the three and six months ended June 30, 2026 and 2025 is as follows:

• price, and for sales at less than full price, the level of markdowns on these products, product mix, and the number of units per order. Average order value can be adversely impacted by negative consumer sentiment, including as a result of tariffs. A shift in product mix toward lower-priced products …

• The FWRD segment contributes to a smaller portion of our overall net sales, representing 12.9% and 13.1% of our net sales for the three months ended June 30, 2026 and 2025, respectively, and 13.7% of our net sales for both the six months ended June 30, 2026 and 2025. During the three months ended Ju…

• returned purchases, partially offset by a decrease in average order value. The net sales increase in the six months ended June 30, 2026, as compared to the same period in 2025, was primarily due to an increase in the number of orders shipped and a lower proportion of returned purchases.

Text added vs the prior filing · source: 10-Q · 2026-11-03

• Shipping is a critical part of our business and increases in fuel and shipping costs, changes in or interruptions to our shipping arrangements, or any damage, theft or loss of inventory during shipping, could adversely affect our business and operating results.

• We primarily rely on a limited number of major vendors for our shipping. If we are not able to negotiate acceptable pricing and other terms with these entities or if they experience capacity constraints, performance problems or other difficulties, it could negatively impact our operating results and…

• In addition, our ability to receive inbound inventory efficiently and ship merchandise to customers may be negatively affected by public health crises, inclement weather, fire, flood, power loss, earthquakes, labor disputes, acts of war, geopolitical tensions, terrorism, trade embargoes, customs, ta…

• We are also subject to risks of damage, theft or loss during delivery by our shipping vendors. If our merchandise is not delivered in a timely fashion or is damaged, stolen or lost during the delivery process, our customers could become dissatisfied and cease shopping from us, which would adversely …

• We typically enter into agreements to manufacture and purchase our merchandise in advance of trends, shifts in customer preference and typical selling seasons. Our failure to anticipate, identify or react appropriately or in a timely

Text removed vs the prior filing · source: 10-Q · 2026-08-04

• We typically enter into agreements to manufacture and purchase our merchandise in advance of trends, shifts in customer preference and typical selling seasons. Our failure to anticipate, identify or react appropriately or in a timely manner to changes in customer preferences, tastes and trends or ec…

• orders and provide customer service, our ability to meet forecasts and our employee morale, productivity and retention could suffer, which may have an adverse effect on our business, financial condition and operating results.

• to change their policies or algorithms, leading to shifts in the level of video and recommended content, which may impact our ability to fully optimize such platforms.

• Furthermore, as laws and regulations and public opinion rapidly evolve to govern the use of social media platforms, our ability to use certain platforms, including TikTok in particular, as marketing tools may become limited, restricted or more expensive or complicated, which could adversely impact o…

• Our success depends on our ability to acquire customers in a cost-effective manner. In order to expand our customer base, we must appeal to and acquire customers who have historically used other means of commerce in shopping for apparel and may prefer alternatives to our offerings, such as tradition…

Text added vs the prior filing · source: 10-Q · 2026-11-03

• On August 6, 2026, MMMK Development, Inc., or MMMK Development, an entity controlled by our co-founders and co-chief executive officers, Mike Karanikolas and Michael Mente, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 3,750,125 shares of…

• During our last fiscal quarter, no other director or officer, as defined in Rule 16a-1(f), adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” each as defined in Regulation S-K Item 408.