Chewy (CHWY) Reports Q2 2025 Revenue of $3.10 Billion, Adjusted EPS of $0.33

Chewy (CHWY.US) reported its second quarter fiscal year 2025 results, with net sales reaching $3.10 billion, marking an 8.6% increase year-over-year. The company's adjusted diluted earnings per share came in at $0.33, an increase of $0.09 year-over-year. Chewy's net sales exceeded the analyst estimate of $3.08 billion, while its adjusted diluted EPS matched the analyst estimate of $0.33, indicating that the company met analyst expectations for the quarter ended August 3, 2025.

Key Performance Drivers

The company's net sales growth was primarily driven by strong performance in Autoship customer net sales, which increased by 15% and accounted for 83% of total net sales for the quarter. Active customers grew 4.5% year-over-year to nearly 21 million, and net sales per active customer (NSPAC) also increased by 4.6% to $591.

Chewy’s gross margin improved to 30.4%, an increase of 90 basis points year-over-year, while adjusted EBITDA increased by 26.5% to $183.3 million. The adjusted EBITDA margin also saw an increase of 80 basis points year-over-year, reaching 5.9%. These figures demonstrate improved profitability and operational efficiency within the company.

Management Commentary

Sumit Singh, CEO of Chewy, highlighted that the Q2 net sales surpassed their guidance range, demonstrating the strength of Chewy’s differentiated value proposition. He emphasized the growth in Autoship customers and an increasing share of wallet among active customers. These results underscore Chewy's continued ability to attract and retain customers through its core offerings.