Chewy, Inc. has released its financial results for the first quarter of fiscal year 2025 ended May 4, 2025.

Fiscal Q1 2025 Highlights:

•Net sales of $3.12 billion increased 8.3 percent year over year
•Gross margin of 29.6 percent decreased 10 basis points year over year
•Net income of $62.4 million, including share-based compensation expense and related taxes of $78.0 million
•Net margin of 2.0 percent decreased 30 basis points year over year
•Basic earnings per share of $0.15, consistent year over year
•Diluted earnings per share of $0.15, consistent year over year
•Adjusted EBITDA(1) of $192.7 million, an increase of $29.8 million year over year
•Adjusted EBITDA margin(1) of 6.2 percent increased 50 basis points year over year
•Adjusted net income(1) of $148.9 million, an increase of $11.8 million year over year
•Adjusted basic earnings per share(1) of $0.36, an increase of $0.04 year over year
•Adjusted diluted earnings per share(1) of $0.35, an increase of $0.04 year over year