Chewy, a trusted online destination for pet parents, has released its financial results for the first quarter of fiscal year 2019 ended May 5, and posted a letter to its shareholders on its investor relations website at https://investor.chewy.com.

Fiscal Q1 2019 highlights:

• Net sales grew 45.2 percent year-over-year to $1.1 billion
• Gross margin of 22.9 percent improved 330 basis points year-over-year
• Net loss of $29.6 million improved 50.6 percent year-over-year
• Adjusted EBITDA⁽¹⁾ loss of $15.8 million improved 69.4 percent year-over-year
• Adjusted EBITDA margin⁽¹⁾ of (1.4) percent improved 530 basis points year-over-year

“We are pleased to report strong first quarter 2019 results as a newly public company with net sales growing 45 percent year-over-year, and gross margin increasing 330 basis points year-over-year,” said Sumit Singh, Chief Executive Officer of Chewy. “We will continue to innovate with a keen focus on delivering the best customer experience as we execute on our mission to become the most trusted and convenient online destination for pet parents.”

Chewy intends to make future announcements of material financial and other information through its investor relations website. Chewy will also, from time to time, disclose this information through press releases, filings with the Securities and Exchange Commission, conference calls or webcasts, as required by applicable law.

(1) Adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. See “Non-GAAP Financial Measures” for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures.