Sheep Shop 2025 Financial Review: Revenue Growth and Expense Analysis
"Explore the 2025 financial review of The Sheep Shop, a White Sheep Company, highlighting revenue gains, expense trends, and margin improvements. Discover insights on revenue channels, product line contributions, and gross margin analysis."
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Presentation Transcript
The Sheep Shop A White Sheep Company 2025 FINANCIAL REVIEW
Table of Contents Salaries & Benefits Summary 1 5 Marketing Revenue 2 6 Cost of Merchandise Other Expenses 3 7 Supplementary Material Index Gross Margin 4
Summary Financials (In Thousands) % 2025 $ 2024 $ Revenue Discounts Net Sales 368 (39) 329 211 (11) 200 $ 157 (28) 129 74% 266% 64% Top Line Revenue Increased $157K or 74% YoY COGS Gross Margin 129 201 84 116 44 85 53% 73% COGS increased $44K or 53% Salaries & Benefits Marketing Other Expenses 35 53 70 11 40 47 24 13 23 232% 31% 49% Expenses increased $60K or 62% EBITDA increase $24K or 132% EBITDA $ 43 $ 19 $ 24 132% Interest Depreciation & Amortization 10 7 9 5 2 2 18% 40% Net Income Increased $21K or 420% Net Income $ 26 $ 5 $ 21 420% 2 3 4 5 6 7 1
EBITDA 2 3 4 5 6 7 1
Revenue Channels Channel Ecommerce Consignment Store Net Sales $ $ $ $ Contribution 60% 17% 23% 198 56 76 329 (Expansion into consignment increased net sales by 20%) 2 3 4 5 6 7 1
Revenue Product Line Category Hats Shirts Other Net Sales $ $ $ $ 296 26 7 329 (Addition of Shirts added $26K to net sales in FY25) 2 3 4 5 6 7 1
Merchandise Cost Category Net Sales Hats Shirts Other COGS $ $ $ $ 296 26 106 21 7 2 329 129 2 3 4 5 6 7 1
Gross Margin Hats Shirts Other Total 2025 2024 2025 2024 2025 2024 2025 2024 Net Sales COGS Gross Margin 296 106 190 180 75 105 26 21 5 - - - 7 2 5 20 9 11 329 129 200 200 84 116 Margin % 64% 58% 20% N/A 70% 55% 61% 58% Total margin improved 5% with margin in hats improving by more than 10% Margin in other improved significantly as planned from the move away from noncore lower margin items 2 3 4 5 6 7 1
Salaries & Benefits 2025 Salary Hourly Total 12 - - 5 - - 3 20 2024 Salary Hourly Total 6 - - - - 6 Department Finance Operations HR Marketing IT Supply-Chain Customer Support Department Finance Operations HR Marketing IT Supply-Chain Customer Support - - - - 12 15 - - - - - - 6 5 15 5 - - - - - - - - - - 5 3 15 35 5 11 Salaries & Benefits more than tripled due to addition of 2 more PT fulfillment team members, increased accounting services, onboarding a PT marketing associate & customer service team member 2 3 4 5 6 7 1
Marketing Category Intenet Ads Events Agency Other Total 2025 2024 Moved further away from internet ads and into other areas due to decreasing returns Increased Event involvement due to direct ROAS and other favorable longer-term metrics Added Agency & contractor services in FY25 25 15 5 8 53 35 5 (10) 10 - - 5 8 40 13 2 3 4 5 6 7 1
Other Expenses Category 2025 2024 Entry into consignment came with significant rent costs Supplies did not increase proportionate to sales due to finding better suppliers Increased activity led to increased water & electricity usage FY24 included tech consultant fees for WMS implementation assistance Rent Supplies Utilities Professional Fees 24 35 11 - 24 15 4 (20) 23 20 7 20 47 - 70 2 3 4 5 6 7 1
Supplementary Materials Index EBITDA Notes Sales by Period Traffic, AOV, Conversion by Channel Sales by Product SKU Margin by Product SKU Margin by Subcategory Changes in Top 10 SKUs Breakdown of Salaries & Benefits YoY ROAS by Marketing Category Major Projects (Closed Totals & Spend to Date on Active Projects) CAPEX FY25 vs FY24 CAPEX FY26 Projections
