Stitch Fix (SFIX) 10-Q 8 Jun 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Apr. 28, 2018	Jun. 05, 2018
Document Information [Line Items]
Document type	10-Q
Amendment flag	false
Document period end date	Apr. 28, 2018
Document fiscal year focus	2,018
Document fiscal period focus	Q3
Trading Symbol	SFIX
Entity registrant name	Stitch Fix, Inc.
Entity central index key	1,576,942
Current fiscal year end date	--07-28
Entity filer category	Non-accelerated Filer
Class A Common Stock
Document Information [Line Items]
Entity common stock, shares outstanding		27,725,150
Class B Common Stock
Document Information [Line Items]
Entity common stock, shares outstanding		70,142,861

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Apr. 28, 2018	Jul. 29, 2017
Current assets:
Cash		$ 287,257	$ 110,608
Restricted cash		0	250
Inventory, net		82,222	67,592
Prepaid expenses and other current assets		17,244	19,312
Total current assets		386,723	197,762
Property and equipment, net		32,374	26,733
Deferred tax assets		14,216	19,991
Restricted cash, net of current portion		12,850	9,100
Other long-term assets		3,707	3,619
Total assets		449,870	257,205
Current liabilities:
Accounts payable		74,286	44,238
Accrued liabilities		48,171	46,363
Preferred stock warrant liability			26,679
Gift card liability		6,685	5,190
Deferred revenue		10,268	7,150
Other current liabilities		4,278	4,298
Total current liabilities		143,688	133,918
Deferred rent, net of current portion		11,664	11,781
Other long-term liabilities		7,777	7,423
Total liabilities		163,129	153,122
Commitments and contingencies (Note 6)
Convertible preferred stock, $0.00002 par value – zero and 60,577,280 shares authorized as of April 28, 2018 and July 29, 2017, respectively; zero and 59,511,055 shares issued and outstanding as of April 28, 2018 and July 29, 2017, respectively; aggregate liquidation preference of $42,389 as of July 29, 2017			42,222
Stockholders’ equity:
Preferred stock, $0.00002 par value – 20,000,000 and zero shares authorized as of April 28, 2018 and July 29, 2017, respectively; zero shares issued and outstanding as of April 28, 2018 and July 29, 2017
Additional paid-in capital		225,265	27,002
Retained earnings		61,474	34,858
Total stockholders’ equity		286,741	61,861
Total liabilities, convertible preferred stock and stockholders’ equity		449,870	257,205
Class B Common Stock
Stockholders’ equity:
Common stock, value	[1]	$ 2	$ 1
[1]	Shares authorized, issued and outstanding as of July 29, 2017 includes common stock prior to our initial public offering. Please see Note 1 for additional details.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 28, 2018	Jul. 29, 2017
Convertible preferred stock, par value	$ 0.00002	$ 0.00002
Convertible preferred stock, shares authorized	0	60,577,280
Convertible preferred stock, shares issued	0	59,511,055
Convertible preferred stock, shares outstanding	0	59,511,055
Convertible preferred stock, aggregate liquidation preference		$ 42,389
Preferred stock, par value	$ 0.00002	$ 0.00002
Preferred stock, shares authorized	20,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock
Common stock, par value	$ 0.00002	$ 0.00002
Common stock, shares authorized	2,000,000,000	0
Common stock, shares issued	19,184,279	0
Common stock, shares outstanding	19,184,279	0
Class B Common Stock
Common stock, par value	$ 0.00002	$ 0.00002
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	78,484,336	26,834,535
Common stock, shares outstanding	78,484,336	26,834,535

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Income Statement [Abstract]
Revenue, net	$ 316,741	$ 245,075	$ 908,210	$ 718,854
Cost of goods sold	178,535	139,692	513,606	396,671
Gross profit	138,206	105,383	394,604	322,183
Selling, general and administrative expenses	128,454	101,368	359,696	290,753
Operating income	9,752	4,015	34,908	31,430
Remeasurement of preferred stock warrant liability	0	12,858	(10,685)	15,507
Other income, net	(209)	(12)	(244)	(25)
Income (loss) before income taxes	9,961	(8,831)	45,837	15,948
Provision for income taxes	474	732	19,221	12,035
Net income (loss) and comprehensive income (loss)	$ 9,487	$ (9,563)	$ 26,616	$ 3,913
Earnings (loss) per share attributable to common stockholders:
Basic	$ 0.10	$ (0.38)	$ 0.28	$ 0.02
Diluted	$ 0.09	$ (0.38)	$ 0.15	$ 0.02
Weighted-average shares used to compute earnings per share attributable to common stockholders:
Basic	97,055,573	25,094,602	68,596,978	24,729,238
Diluted	101,847,521	25,094,602	74,281,211	28,988,334

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity - 9 months ended Apr. 28, 2018 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Convertible Preferred Stock
Beginning balance, shares at Jul. 29, 2017	59,511,055				59,511,055
Beginning balance at Jul. 29, 2017	$ 42,222				$ 42,222
Issuance of Class B common stock upon conversion of convertible preferred stock					$ (42,222)
Issuance of Class B common stock upon conversion of convertible preferred stock, shares					(59,511,055)
Ending balance, shares at Apr. 28, 2018	0
Beginning balance at Jul. 29, 2017	$ 61,861	$ 1	$ 27,002	$ 34,858
Beginning balance, shares at Jul. 29, 2017		26,834,535
Issuance of Class A common stock upon initial public offering, net of offering costs	127,033		127,033
Issuance of Class A common stock upon initial public offering, net of offering costs, shares		9,175,557
Issuance of Class B common stock upon conversion of convertible preferred stock	42,222	$ 1	42,221
Issuance of Class B common stock upon conversion of convertible preferred stock, shares		59,511,055
Reclassification of warrant liability to additional paid-in capital upon the initial public offering	15,994		15,994
Reclassification of warrant liability to additional paid-in capital upon the initial public offering, shares		1,066,225
Issuance of Class B common stock upon exercise of stock options	2,074		2,074
Issuance of Class B common stock upon exercise of stock options, shares		1,075,740
Issuance of Class A restricted stock units, net of tax withholdings	(402)		(402)
Issuance of Class A restricted stock units, net of tax withholdings, shares		24,982
Repurchase of Class B common stock related to early exercised options, shares		(19,479)
Vesting of early exercised options	546		546
Stock-based compensation	10,797		10,797
Net income	26,616			26,616
Ending balance at Apr. 28, 2018	$ 286,741	$ 2	$ 225,265	$ 61,474
Ending balance, shares at Apr. 28, 2018		97,668,615

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flow - USD ($) $ in Thousands	9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017
Cash Flows from Operating Activities
Net income	$ 26,616	$ 3,913
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	5,775	(2,729)
Remeasurement of preferred stock warrant liability	(10,685)	15,507
Inventory reserves	3,928	5,016
Compensation expense related to certain stock sales by current and former employees	0	9,699
Stock-based compensation expense	10,277	2,147
Depreciation and amortization	7,538	5,420
Loss on disposal of property and equipment	146	0
Change in operating assets and liabilities:
Inventory	(18,558)	(21,202)
Prepaid expenses and other assets	(407)	(17,123)
Accounts payable	29,594	(8,041)
Accrued liabilities	1,857	34,169
Deferred revenue	3,118	3,515
Gift card liability	1,495	1,877
Other liabilities	802	3,821
Net cash provided by operating activities	61,496	35,989
Cash Flows from Investing Activities
Purchase of property and equipment	(12,026)	(13,806)
Net cash used in investing activities	(12,026)	(13,806)
Cash Flows from Financing Activities
Proceeds from initial public offering, net of underwriting discounts paid	129,046	0
Proceeds from the exercise of stock options	1,672	1,272
Repurchase of Class B common stock related to early exercised options	(39)	(3,557)
Net cash provided by (used in) financing activities	130,679	(2,285)
Net increase in cash and restricted cash	180,149	19,898
Cash and restricted cash at beginning of period	119,958	101,492
Cash and restricted cash at end of period	300,107	121,390
Components of cash and restricted cash
Cash	287,257	112,040
Restricted cash	0	250
Restricted cash, net of current portion	12,850	9,100
Cash and restricted cash at end of period	300,107	121,390
Supplemental Disclosure
Cash paid for income taxes	9,583	27,939
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Purchases of property and equipment included in accounts payable and accrued liabilities	891	228
Capitalized stock-based compensation	520	77
Vesting of early exercised options	546	709
Conversion of preferred stock upon initial public offering	42,222	0
Reclassification of preferred stock warrant liability upon initial public offering	15,994	0
Deferred offering costs paid in prior year	$ 1,879	$ 0

Description of Business

Description of Business	9 Months Ended
	Apr. 28, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business	1. Description of Business Stitch Fix, Inc. (“we,” “our,” “us” or “the Company”) delivers one-to-one personalization to our clients through the combination of data science and human judgment. Our stylists hand select items from a broad selection of merchandise. Stylists pair their own judgment with our analysis of client and merchandise data to provide a personalized shipment of apparel, shoes and accessories suited to each client’s needs. We call each of these unique shipments a Fix. After receiving a Fix, our clients purchase the items they want to keep and return the other items. We are incorporated in Delaware and operate in the United States. Initial Public Offering On November 16, 2017, we completed an initial public offering (“IPO ”). In connection with the IPO, we authorized two new classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting, conversion and transfer rights. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock and has no expiration date . The Class B common stock automatically converts to Class A common stock upon transfers or any sale. In our IPO, we issued and sold 8,000,000 shares of our Class A common stock at a public offering price of $15.00 per share. We received $110.4 million in net proceeds after deducting $6.2 million of . In December 2017, we issued an additional 1,175,557 shares of Class A common stock at a price of $15.00 per share following the underwriters’ exercise of their option to purchase additional shares and received $16.7 million in net proceeds after deducting underwriting discounts and expenses.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Apr. 28, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation Our fiscal year is a 52-week or 53-week period ending on the Saturday closest to July 31. The fiscal years ended July 29, 2017 (“2017”) and July 28, 2018 (“2018”) each consists of 52 weeks. The unaudited condensed consolidated financial statements include the accounts of Stitch Fix, Inc. and our wholly owned subsidiaries, and have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and following the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. These financial statements have been prepared on the same basis as our annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for the fair statement of our financial information. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending July 28, 2018 or for any other interim period or for any other future year. All intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the fiscal year ended July 29, 2017 contained in our prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the SEC on November 17, 2017. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in our condensed consolidated financial statements and accompanying footnotes. Significant estimates and assumptions are used for inventory, stock-based compensation expense, common stock valuation preceding our IPO, remeasurement of preferred stock warrant liability preceding our IPO, revenue recognition and income taxes. Actual results could differ from those estimates and such differences may be material to the condensed consolidated financial statements. Restricted Cash Restricted . Deferred Offering Costs Deferred offering costs, which consist of direct incremental legal, consulting, banking and accounting fees relating to the IPO were capitalized and offset against proceeds upon the consummation of the IPO, which became effective on November 16, 2017 (See Note 1). Concentration of Credit Risks The majority of our cash is held by three financial institutions within the United States. Our cash balances held by these institutions may exceed federally insured limits. The associated risk of concentration for cash is mitigated by banking with credit-worthy institutions. No client accounted for greater than 10% of total revenue, net for the three and nine months ended April 28, 2018 and April 29, 2017. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) The new guidance may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In October 2016, the FASB issued ASU No. 2016-16 , Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (Topic 740)

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Apr. 28, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements We disclose and recognize the fair value of our assets and liabilities using a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The guidance establishes three levels of the fair value hierarchy as follows: Level 1 : Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date; Level 2 : Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and Level 3 : Unobservable inputs that are significant to the measurement of the fair value of the assets or liabilities that are supported by little or no market data. Our financial instruments consist of cash, accounts payable, accrued liabilities and the preferred stock warrant liability. At April 28, 2018 and July 29, 2017, the carrying values of cash, accounts payable and accrued liabilities approximated fair value due to their short-term maturities . In November 2017, in connection with our IPO, all outstanding preferred stock warrants were automatically exercised into Class B common stock. As a result, we remeasured and reclassified the preferred stock warrant liability to additional paid-in capital upon the closing of the IPO. As of April 28, 2018, the Company did not have any financial instruments measured at fair value. The following table sets forth our financial instruments that were measured at fair value on a recurring basis based on the fair value hierarchy as of July 29, 2017 (in thousands): July 29, 2017 Level 1 Level 2 Level 3 Total Financial Liabilities: Preferred stock warrant liability $ — $ — $ 26,679 $ 26,679 Total $ — $ — $ 26,679 $ 26,679 There were no transfers of financial assets or liabilities into or out of Level 1, Level 2 or Level 3 for the three and nine months ended April 28, 2018 and April 29, 2017. The key assumptions used in the Black-Scholes option-pricing model for the valuation of the preferred stock warrant liability upon remeasurement were as follows as of July 29, 2017: July 29, 2017 Expected term (in years) 2.0 Fair value of underlying shares $ 25.09 Volatility 43.8 % Risk free interest rate 1.3 % Dividend yield — % The following table sets forth a summary of the changes in the fair value of the preferred stock warrant liability (in thousands): For the Nine Months Ended April 28, 2018 Balance at July 29, 2017 $ 26,679 Change in fair value (10,685 ) Reclassification of warrant liability to additional paid-in capital upon the initial public offering (15,994 ) Ending Balance at April 28, 2018 $ —

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Apr. 28, 2018
Accrued Liabilities Current [Abstract]
Accrued Liabilities	4. Accrued Liabilities Accrued liabilities consisted of the following (in thousands): April 28, 2018 July 29, 2017 Inventory purchases $ 15,095 $ 11,186 Advertising 7,103 9,995 Sales taxes 7,319 3,702 Compensation and related benefits 5,142 9,632 Shipping and freight 4,259 3,390 Other 9,253 8,458 Total accrued liabilities $ 48,171 $ 46,363

Preferred Stock Warrant Liabili

Preferred Stock Warrant Liability	9 Months Ended
	Apr. 28, 2018
Equity [Abstract]
Preferred Stock Warrant Liability	5. Preferred Stock Warrant Liability In 2012 and 2013, in connection with financing arrangements, we issued warrants to purchase shares of our convertible preferred stock. For one of the financing arrangements, we issued warrants to purchase 375,230 shares of Series Seed convertible preferred stock at an exercise price of $0.1066 per share and 66,265 shares of Series A convertible preferred stock at an exercise price of $0.22636 per share. For the second financing arrangement, we issued warrants for the purchase of, at the warrant holder’s option, either (a) 624,730 shares of Series A-1 convertible preferred stock at an exercise price of $0.2401 per share or (b) 308,315 shares of Series B convertible preferred stock at an exercise price of $0.486516 per share. Prior to their automatic exercise in connection with the IPO, as described below, the warrants were exercisable for and expired ten years from the date of issuance. In November 2017, in connection with our IPO, the preferred stock warrants were automatically exercised into Class B common stock

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Apr. 28, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Commitments On January 29, 2018, we executed an amendment to the lease on our corporate headquarters in San Francisco, California (the “Third Office Lease Amendment”). Beginning June 1, 2018, the Third Office Lease Amendment adds two additional floors of office space, provides for a ten-year lease term for the additional space and extends our existing lease by four and a half years to be coterminous with the term of the additional space. As a result of the Third Office Lease Amendment, the future minimum lease payments for our corporate headquarters increased from approximately $43.8 million to approximately $115.3 million over ten years. Our restricted cash balance increased by $3.7 million, representing an increase in collateral for letters of credit on our leased properties. Effective February 23, 2018, we executed an amendment to the third-party logistics arrangement for our warehouse facility in Indiana (the “Warehouse Logistics Amendment”). The Warehouse Logistics Amendment increases our existing square foot allocation at this location by approximately 50,000 square feet and requires the provider to allocate total storage space of at least 400,000 square feet. The Warehouse Logistics Amendment extends the existing agreement by approximately two years, but can be terminated for convenience by the Company upon six months’ notice. Effective with the Warehouse Logistics Amendment, the arrangement will be accounted for as an operating lease with future minimum lease payments of $1.0 million. Contingencies We record a loss contingency when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. We also disclose material contingencies when we believe a loss is not probable but reasonably possible. Accounting for contingencies requires us to use judgment related to both the likelihood of a loss and the estimate of the amount or range of loss. Although we cannot predict with assurance the outcome of any litigation or tax matters, we do not believe there are currently any such actions that, if resolved unfavorably, would have a material impact on our operating results, financial position and cash flows. There have been no other material changes to our commitments and contingencies as disclosed in the Final Prospectus. Indemnifications In the ordinary course of business, we may provide indemnifications of varying scope and terms to vendors, directors, officers and other parties with respect to certain matters. We have not incurred any material costs as a result of such indemnifications and have not accrued any liabilities related to such obligations in our condensed consolidated financial statements.

Stock Based Compensation

Stock Based Compensation	9 Months Ended
	Apr. 28, 2018
Compensation Related Costs [Abstract]
Stock Based Compensation	7. Stock-Based Compensation 2011 Equity Incentive Plan In 2011, we adopted the 2011 Equity Incentive Plan (the “2011 Plan”). The 2011 Plan provided for the granting of stock-based awards to employees, including directors and non-employees under terms and provisions established by the board of directors. The 2011 Plan allowed for the grant of incentive stock options or nonqualified stock options as well as restricted stock units, restricted stock and stock appreciation rights. As of April 28, 2018, we had only granted incentive and nonqualified stock options under the 2011 Plan. Employee stock options generally vest 25% on the first anniversary of the grant date with the remaining vesting ratably over the next three years. Options generally expire after 10 years. Effective upon our IPO, the 2011 Equity Incentive Plan was replaced by the 2017 Incentive Plan. 2017 Incentive Plan In November 2017, our board of directors and stockholders adopted our 2017 Incentive Plan (the “2017 Plan”). The remaining shares available for issuance under the 2011 Plan became reserved for issuance under the 2017 Pl an. 28,423,374 4,497,229 were Stock option activity under the 2011 and 2017 Plans is as follows: Options Outstanding Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (in Years) Aggregate Intrinsic Value (In thousands) Balance – July 29, 2017 10,218,912 $ 7.12 8.53 $ 166,670 Granted 1,850,823 $ 20.81 Exercised (1,075,740 ) $ 1.93 Cancelled (954,844 ) $ 6.08 Balance – April 28, 2018 10,039,151 $ 10.30 8.23 $ 115,019 The aggregate intrinsic value is the difference between the current fair value of the underlying common stock and the exercise price for in-the-money stock options. The following table summarizes the restricted stock unit (RSU) award activity under the 2017 Incentive Plan: Class A Common Stock Weighted- Average Grant Date Fair Value Unvested at July 29, 2017 $ — $ — Granted 1,946,192 $ 19.86 Vested (24,982 ) $ 19.38 Forfeited (96,497 ) $ 14.04 Unvested at April 28, 2018 $ 1,824,713 $ 19.99 Stock-Based Compensation Expense Stock-based compensation expense for employees was $5.2 million million for the three and nine months ended The weighted-average grant date fair value of options granted during the nine months ended April 28, 2018 was $7.85 was $4.45 was $85.2 million We record stock-based compensation of stock options granted to employees by estimating the fair value of stock-based awards using the Black-Scholes option pricing model and amortizing the fair value of the stock-based awards granted over the applicable vesting period of the awards on a straight-line basis. The fair value of stock options granted to employees was estimated at the grant date using the Black- Scholes option-pricing model with the following assumptions: For the Three Months Ended For the Nine Months Ended April 28, 2018 April 29, 2017 April 28, 2018 April 29, 2017 Expected term (in years) 5.4 - 6.1 5.7 - 6.4 5.4 - 6.6 5.4 - 6.5 Volatility 41.6 - 42.0% 45.3 - 45.4% 41.4 - 43.5% 43.9 - 46.0% Risk free interest rate 2.6 -2.9% 2.2 - 2.3% 1.9 - 2.9% 1.3 -2.3% Dividend yield —% —% —% —% In July 2017, we granted options to certain members of our executive management team to purchase an aggregate of 1,097,463 shares of Class B common stock which had both a service-based condition and a liquidity event-related performance condition. Such options vest ratably over the 24-month period following the fourth anniversary of the grant date, subject to an IPO occurring within 12 months of the grant date and the option holder’s continuous service through each vesting date. The aggregate grant-date fair value of such option awards was $14.0 million. Since an IPO is not deemed probable until such event occurs, no compensation cost related to the performance condition was recognized prior to the consummation of our IPO in November 2017. Subsequently, we recorded stock-based compensation expense of $0.5 million related

Income Taxes

Income Taxes	9 Months Ended
	Apr. 28, 2018
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The following table summarizes our effective tax rate from income for the periods presented (in thousands): For the Three Months Ended For the Nine Months Ended April 28, 2018 April 29, 2017 April 28, 2018 April 29, 2017 Income (loss) before income taxes $ 9,961 $ (8,831 ) $ 45,837 $ 15,948 Provisions for income taxes 474 732 19,221 12,035 Effective tax rate 4.8 % (8.3 )% 41.9 % 75.5 % On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (“Tax Act”), which significantly changed U.S. tax law. The Tax Act contains several key tax provisions including the reduction of the corporate income tax rate from 35% to 21%, as well as a variety of other changes including the acceleration of expensing of certain business assets and reductions in the amount of executive pay that could qualify as a tax deduction. The federal statutory tax rate reduction is effective January 1, 2018. The Company has a fiscal year end which subjects us to transitional tax rate rules. In the nine months ended April 28, 2018, we revised our estimated annual effective rate and applied a blended U.S. statutory rate of 26.96% due to the tax rate reduction. Additionally, income tax expense for the nine months ended April 28, 2018 was adjusted to reflect the discrete effects of the Tax Act and resulted in an increase in income tax expense of $4.7 million related to the remeasurement of existing deferred tax balances. This discrete impact was considered a provisional amount under the SEC’s Staff Accounting Bulletin No. 118 and has not changed since we initially recorded the impact of the enactment of the Tax Act in the period ended January 27, 2018. The Company remeasured the deferred tax balances based on the tax rates at which they are expected to reverse in the future. The Company will continue to refine provisional balances and adjustments may be made under SAB 118 during the measurement period as a result of future changes in interpretation, information available, assumptions made by the Company and/or issuance of additional guidance. Changes to provisional balances during the three months ended April 28, 2018 were not significant. We continue to monitor the progress of ongoing discussions with tax authorities and the impact, if any, of the expected expiration of the statute of limitations in various taxing jurisdictions.

Earnings (Loss) Per Share Attri

Earnings (Loss) Per Share Attributable to Common Stockholders	9 Months Ended
	Apr. 28, 2018
Earnings Per Share [Abstract]
Earnings (Loss) Per Share Attributable to Common Stockholders	9. Earnings (Loss) Per Share Attributable to Common Stockholders Basic and diluted net income (loss) per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. We consider convertible preferred stock and early exercised share options to be participating securities. Undistributed earnings allocated to participating securities are subtracted from net income (loss) in determining net income (loss) attributable to common stockholders. Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period. All participating securities are excluded from basic weighted-average common shares outstanding. For the calculation of diluted earnings per share (“EPS”), net income (loss) attributable to common stockholders for basic EPS is adjusted by the effect of dilutive securities. Diluted net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding, including all potentially dilutive common shares. The undistributed earnings are allocated based on the contractual participation rights of the Class A and Class B common shares as if the earnings for the year have been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. The computation of the diluted net income (loss) per share of Class A common stock assumes the conversion of Class B common stock, while diluted net income (loss) per share of Class B common stock does not assume the conversion of Class A common stock as Class A common stock is not convertible into Class B common stock. A reconciliation of the numerator and denominator used in the calculation of the basic and diluted EPS attributable to common stockholders is as follows (in thousands except share and per share amounts): For the Three Months Ended For the Nine Months Ended April 28, 2018 April 29, 2017 April 28, 2018 April 29, 2017 Class A Class B Class B Class A Class B Class B Numerator: Net income (loss) $ 1,496 $ 7,991 $ (9,563 ) $ 2,895 $ 23,721 $ 3,913 Less: noncumulative dividends to preferred stockholders — — — (83 ) (685 ) (1,905 ) Less: undistributed earnings to participating securities (5 ) (24 ) — (738 ) (6,045 ) (1,428 ) Net income (loss) attributable to common stockholders - basic 1,491 7,967 (9,563 ) 2,074 16,991 580 Less: change in fair value of preferred stock warrant liability (net of tax) — — — (10,685 ) (10,685 ) — Add: adjustments to undistributed earnings to participating securities 1 1 — 3,033 2,703 68 Reallocation of undistributed earnings as a result of conversion of Class B to Class A shares 7,967 — — 16,991 — — Reallocation of undistributed earnings to Class B shares — 62 — — 1,258 — Net income (loss) attributable to common stockholders - diluted $ 9,459 $ 8,030 $ (9,563 ) $ 11,413 $ 10,267 $ 648 Denominator: Weighted-average shares of common stock - basic 15,304,926 81,750,647 25,094,602 7,460,177 61,136,801 24,729,238 Conversion of Class B to Class A common shares outstanding 81,750,647 — — 61,136,801 — — Effect of dilutive stock options and restricted stock units 4,791,948 4,712,239 — 5,258,943 5,258,943 4,259,096 Effect of potentially dilutive preferred stock warrants — — — 425,290 425,290 — Weighted-average shares of common stock - diluted 101,847,521 86,462,886 25,094,602 74,281,211 66,821,034 28,988,334 Earnings (loss) per share attributable to common stockholders: Basic $ 0.10 $ 0.10 $ (0.38 ) $ 0.28 $ 0.28 $ 0.02 Diluted $ 0.09 $ 0.09 $ (0.38 ) $ 0.15 $ 0.15 $ 0.02 The following common stock equivalents were excluded from the computation of diluted earnings (loss) per share for the periods presented because including them would have been antidilutive: For the Three Months Ended For the Nine Months Ended April 28, 2018 April 29, 2017 April 28, 2018 April 29, 2017 Convertible preferred stock — 59,511,055 — 59,511,055 Preferred stock warrants — 1,066,225 — 1,066,225 Restricted stock units 1,055,524 — 1,946,192 — Stock options to purchase Class A common stock 558,372 982,958 Stock options to purchase Class B common stock 3,951,636 282,145 4,266,341 660,749 Total 5,565,532 60,859,425 7,195,491 61,238,029

Subsequent Events

Subsequent Events	9 Months Ended
	Apr. 28, 2018
Subsequent Events [Abstract]
Subsequent Events	10. Subsequent Events On June 4, 2018, we executed a further amendment to the lease on our corporate headquarters in San Francisco (the “Fourth Office Lease Amendment”). The Fourth Office Lease Amendment replaces one of the floors covered by the Third Office Lease Amendment with a different floor and changes the initial occupancy date from June 1, 2018, to July 16, 2018. The Fourth Office Lease Amendment did not materially change any other terms of the lease on our corporate headquarters, as previously amended.

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Apr. 28, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our fiscal year is a 52-week or 53-week period ending on the Saturday closest to July 31. The fiscal years ended July 29, 2017 (“2017”) and July 28, 2018 (“2018”) each consists of 52 weeks. The unaudited condensed consolidated financial statements include the accounts of Stitch Fix, Inc. and our wholly owned subsidiaries, and have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and following the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP can be condensed or omitted. These financial statements have been prepared on the same basis as our annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for the fair statement of our financial information. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending July 28, 2018 or for any other interim period or for any other future year. All intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the fiscal year ended July 29, 2017 contained in our prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the SEC on November 17, 2017.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in our condensed consolidated financial statements and accompanying footnotes. Significant estimates and assumptions are used for inventory, stock-based compensation expense, common stock valuation preceding our IPO, remeasurement of preferred stock warrant liability preceding our IPO, revenue recognition and income taxes. Actual results could differ from those estimates and such differences may be material to the condensed consolidated financial statements.
Restricted Cash	Restricted Cash Restricted .
Deferred Offering Costs	Deferred Offering Costs Deferred offering costs, which consist of direct incremental legal, consulting, banking and accounting fees relating to the IPO were capitalized and offset against proceeds upon the consummation of the IPO, which became effective on November 16, 2017 (See Note 1).
Concentration of Credit Risks	Concentration of Credit Risks The majority of our cash is held by three financial institutions within the United States. Our cash balances held by these institutions may exceed federally insured limits. The associated risk of concentration for cash is mitigated by banking with credit-worthy institutions. No client accounted for greater than 10% of total revenue, net for the three and nine months ended April 28, 2018 and April 29, 2017.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) The new guidance may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In October 2016, the FASB issued ASU No. 2016-16 , Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (Topic 740)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Apr. 28, 2018
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis Based on Fair Value Hierarchy	The following table sets forth our financial instruments that were measured at fair value on a recurring basis based on the fair value hierarchy as of July 29, 2017 (in thousands): July 29, 2017 Level 1 Level 2 Level 3 Total Financial Liabilities: Preferred stock warrant liability $ — $ — $ 26,679 $ 26,679 Total $ — $ — $ 26,679 $ 26,679
Schedule of Key Assumptions Used for Valuation of Preferred Stock Warrant Liability	The key assumptions used in the Black-Scholes option-pricing model for the valuation of the preferred stock warrant liability upon remeasurement were as follows as of July 29, 2017: July 29, 2017 Expected term (in years) 2.0 Fair value of underlying shares $ 25.09 Volatility 43.8 % Risk free interest rate 1.3 % Dividend yield — %
Schedule of Changes in Fair Value of Preferred Stock Warrant Liability	The following table sets forth a summary of the changes in the fair value of the preferred stock warrant liability (in thousands): For the Nine Months Ended April 28, 2018 Balance at July 29, 2017 $ 26,679 Change in fair value (10,685 ) Reclassification of warrant liability to additional paid-in capital upon the initial public offering (15,994 ) Ending Balance at April 28, 2018 $ —

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Apr. 28, 2018
Accrued Liabilities Current [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): April 28, 2018 July 29, 2017 Inventory purchases $ 15,095 $ 11,186 Advertising 7,103 9,995 Sales taxes 7,319 3,702 Compensation and related benefits 5,142 9,632 Shipping and freight 4,259 3,390 Other 9,253 8,458 Total accrued liabilities $ 48,171 $ 46,363

Stock Based Compensation (Table

Stock Based Compensation (Tables)	9 Months Ended
	Apr. 28, 2018
Compensation Related Costs [Abstract]
Summary of Stock Option Activity Under 2011 and 2017 Stock Plan	Stock option activity under the 2011 and 2017 Plans is as follows: Options Outstanding Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (in Years) Aggregate Intrinsic Value (In thousands) Balance – July 29, 2017 10,218,912 $ 7.12 8.53 $ 166,670 Granted 1,850,823 $ 20.81 Exercised (1,075,740 ) $ 1.93 Cancelled (954,844 ) $ 6.08 Balance – April 28, 2018 10,039,151 $ 10.30 8.23 $ 115,019
Summary of Restricted Stock Units Award Activity	The following table summarizes the restricted stock unit (RSU) award activity under the 2017 Incentive Plan: Class A Common Stock Weighted- Average Grant Date Fair Value Unvested at July 29, 2017 $ — $ — Granted 1,946,192 $ 19.86 Vested (24,982 ) $ 19.38 Forfeited (96,497 ) $ 14.04 Unvested at April 28, 2018 $ 1,824,713 $ 19.99
Summary of Assumptions Used in Black-Scholes Option-Pricing Model to Determine Fair Value of Stock Options	The fair value of stock options granted to employees was estimated at the grant date using the Black- Scholes option-pricing model with the following assumptions: For the Three Months Ended For the Nine Months Ended April 28, 2018 April 29, 2017 April 28, 2018 April 29, 2017 Expected term (in years) 5.4 - 6.1 5.7 - 6.4 5.4 - 6.6 5.4 - 6.5 Volatility 41.6 - 42.0% 45.3 - 45.4% 41.4 - 43.5% 43.9 - 46.0% Risk free interest rate 2.6 -2.9% 2.2 - 2.3% 1.9 - 2.9% 1.3 -2.3% Dividend yield —% —% —% —%

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Apr. 28, 2018
Income Tax Disclosure [Abstract]
Schedule of Effective Tax Rate from Income	The following table summarizes our effective tax rate from income for the periods presented (in thousands): For the Three Months Ended For the Nine Months Ended April 28, 2018 April 29, 2017 April 28, 2018 April 29, 2017 Income (loss) before income taxes $ 9,961 $ (8,831 ) $ 45,837 $ 15,948 Provisions for income taxes 474 732 19,221 12,035 Effective tax rate 4.8 % (8.3 )% 41.9 % 75.5 %

Earnings (Loss) Per Share Att22

Earnings (Loss) Per Share Attributable to Common Stockholders (Tables)	9 Months Ended
	Apr. 28, 2018
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted EPS	A reconciliation of the numerator and denominator used in the calculation of the basic and diluted EPS attributable to common stockholders is as follows (in thousands except share and per share amounts): For the Three Months Ended For the Nine Months Ended April 28, 2018 April 29, 2017 April 28, 2018 April 29, 2017 Class A Class B Class B Class A Class B Class B Numerator: Net income (loss) $ 1,496 $ 7,991 $ (9,563 ) $ 2,895 $ 23,721 $ 3,913 Less: noncumulative dividends to preferred stockholders — — — (83 ) (685 ) (1,905 ) Less: undistributed earnings to participating securities (5 ) (24 ) — (738 ) (6,045 ) (1,428 ) Net income (loss) attributable to common stockholders - basic 1,491 7,967 (9,563 ) 2,074 16,991 580 Less: change in fair value of preferred stock warrant liability (net of tax) — — — (10,685 ) (10,685 ) — Add: adjustments to undistributed earnings to participating securities 1 1 — 3,033 2,703 68 Reallocation of undistributed earnings as a result of conversion of Class B to Class A shares 7,967 — — 16,991 — — Reallocation of undistributed earnings to Class B shares — 62 — — 1,258 — Net income (loss) attributable to common stockholders - diluted $ 9,459 $ 8,030 $ (9,563 ) $ 11,413 $ 10,267 $ 648 Denominator: Weighted-average shares of common stock - basic 15,304,926 81,750,647 25,094,602 7,460,177 61,136,801 24,729,238 Conversion of Class B to Class A common shares outstanding 81,750,647 — — 61,136,801 — — Effect of dilutive stock options and restricted stock units 4,791,948 4,712,239 — 5,258,943 5,258,943 4,259,096 Effect of potentially dilutive preferred stock warrants — — — 425,290 425,290 — Weighted-average shares of common stock - diluted 101,847,521 86,462,886 25,094,602 74,281,211 66,821,034 28,988,334 Earnings (loss) per share attributable to common stockholders: Basic $ 0.10 $ 0.10 $ (0.38 ) $ 0.28 $ 0.28 $ 0.02 Diluted $ 0.09 $ 0.09 $ (0.38 ) $ 0.15 $ 0.15 $ 0.02
Schedule of Common Stock Equivalents Excluded from Computation of Diluted Earnings (Loss) Per Share	The following common stock equivalents were excluded from the computation of diluted earnings (loss) per share for the periods presented because including them would have been antidilutive: For the Three Months Ended For the Nine Months Ended April 28, 2018 April 29, 2017 April 28, 2018 April 29, 2017 Convertible preferred stock — 59,511,055 — 59,511,055 Preferred stock warrants — 1,066,225 — 1,066,225 Restricted stock units 1,055,524 — 1,946,192 — Stock options to purchase Class A common stock 558,372 982,958 Stock options to purchase Class B common stock 3,951,636 282,145 4,266,341 660,749 Total 5,565,532 60,859,425 7,195,491 61,238,029

Description of Business - Addit

Description of Business - Additional Information (Details) $ / shares in Units, $ in Thousands	Nov. 16, 2017USD ($)Voting_Right$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Apr. 28, 2018USD ($)shares	Apr. 29, 2017USD ($)	Nov. 17, 2017shares	Jul. 29, 2017shares
Class Of Stock [Line Items]
Proceeds from initial public offering, net of underwriting discounts paid | $			$ 129,046	$ 0
Preferred stock, shares outstanding			0		0	0
Preferred Stock Warrants
Class Of Stock [Line Items]
Preferred stock warrants outstanding					0
IPO
Class Of Stock [Line Items]
Number of Class A common stock callable by each Class B common stock	1
Proceeds from initial public offering, net of underwriting discounts paid | $	$ 110,400
Underwriting discounts | $	6,200
Offering costs | $	$ 3,400
IPO | Class A Common Stock
Class Of Stock [Line Items]
Common stock, voting rights			one vote per share
Common stock, voting rights per share | Voting_Right	1
Issuance of Class A common stock upon initial public offering, net of offering costs, shares	8,000,000
Shares Issued, price per share | $ / shares	$ 15
IPO | Class B Common Stock
Class Of Stock [Line Items]
Common stock, voting rights			ten votes per share
Common stock, voting rights per share | Voting_Right	10
Convertible preferred stock converted	59,511,055
Outstanding preferred stock warrants exercised	1,066,225
Underwriters' Over-Allotment Option | Class A Common Stock
Class Of Stock [Line Items]
Issuance of Class A common stock upon initial public offering, net of offering costs, shares		1,175,557
Shares Issued, price per share | $ / shares		$ 15
Net proceeds after deducting underwriting discounts and expenses | $		$ 16,700

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017
Fair Value Disclosures [Abstract]
Financial instruments measured at fair value	$ 0
Fair value assets transfers into level one, level two, level three	0	$ 0
Fair value assets transfers out of level one, level two, level three	0	0
Fair value liabilities transfers into level one, level two, level three	0	0
Fair value liabilities transfers out of level, one level, two level three	$ 0	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis Based on Fair Value Hierarchy (Details) $ in Thousands	Jul. 29, 2017USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Liabilities	$ 26,679
Preferred Stock Warrant Liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Liabilities	26,679
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Liabilities	26,679
Level 3 | Preferred Stock Warrant Liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Liabilities	$ 26,679

Fair Value Measurements - Sch26

Fair Value Measurements - Schedule of Key Assumptions Used for Valuation of Preferred Stock Warrant Liability (Details)	Jul. 29, 2017$ / shares
Financial Liabilities Fair Value Disclosure [Abstract]
Expected term (in years)	2 years
Fair value of underlying shares	$ 25.09
Volatility	43.80%
Risk free interest rate	1.30%

Fair Value Measurements - Sch27

Fair Value Measurements - Schedule of Changes in Fair Value of Preferred Stock Warrant Liability (Details) $ in Thousands	9 Months Ended
	Apr. 28, 2018USD ($)
Financial Liabilities Fair Value Disclosure [Abstract]
Balance at July 29, 2017	$ 26,679
Change in fair value	(10,685)
Reclassification of warrant liability to additional paid-in capital upon the initial public offering	$ (15,994)

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Apr. 28, 2018	Jul. 29, 2017
Accrued Liabilities Current [Abstract]
Inventory purchases	$ 15,095	$ 11,186
Advertising	7,103	9,995
Sales taxes	7,319	3,702
Compensation and related benefits	5,142	9,632
Shipping and freight	4,259	3,390
Other	9,253	8,458
Total accrued liabilities	$ 48,171	$ 46,363

Preferred Stock Warrant Liabi29

Preferred Stock Warrant Liability (Details)	9 Months Ended
	Apr. 28, 2018$ / sharesshares
Class Of Stock [Line Items]
Warrants exercisable and expire	10 years
2012 Financing Arrangements | Series Seed Convertible Preferred Stock
Class Of Stock [Line Items]
Outstanding preferred stock warrants exercised | shares	375,230
Class of warrant, Exercise price of warrants | $ / shares	$ 0.1066
2012 Financing Arrangements | Series A Convertible Preferred Stock
Class Of Stock [Line Items]
Outstanding preferred stock warrants exercised | shares	66,265
Class of warrant, Exercise price of warrants | $ / shares	$ 0.22636
2013 Financing Arrangements | Series A1 Convertible Preferred Stock
Class Of Stock [Line Items]
Outstanding preferred stock warrants exercised | shares	624,730
Class of warrant, Exercise price of warrants | $ / shares	$ 0.2401
2013 Financing Arrangements | Series B Convertible Preferred Stock [Member]
Class Of Stock [Line Items]
Outstanding preferred stock warrants exercised | shares	308,315
Class of warrant, Exercise price of warrants | $ / shares	$ 0.486516

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Jan. 29, 2018USD ($)OfficeSpace	Apr. 28, 2018USD ($)	Feb. 23, 2018USD ($)ft²
Loss Contingencies [Line Items]
Number of additional property subject to operating lease | OfficeSpace	2
Operating leases, lease term	10 years
Operating leases, extension for existing lease term	4 years 6 months	2 years
Operating leases, future minimum lease payments | $	$ 115.3	$ 43.8	$ 1
Increase in restricted cash | $	$ 3.7
Indiana
Loss Contingencies [Line Items]
Increase in area of lease property | ft²			50,000
Indiana | Minimum
Loss Contingencies [Line Items]
Area of lease property | ft²			400,000

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2017	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average grant date fair value of options				$ 7.85	$ 4.45
Unrecognized compensation expense related to unvested options and RSU’s, net of estimated forfeitures		$ 85.2		$ 85.2
Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 5.2	$ 0.8	$ 10.3	$ 2.1
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to unvested options weighted average recognition period				3 years 3 months 18 days
Stock Options | Certain Members of Executive Management Team
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options vested period	24 months
Aggregate grant-date fair value of option awards	$ 14
Stock based compensation expense related to prior periods	$ 0			$ 0.5
Stock Options | Certain Members of Executive Management Team | Class B Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted	1,097,463
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average grant date fair value of RSU				$ 19.86
2011 Equity Incentive Plan | Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Remaining vesting after first anniversary of grant date				3 years
Options exercisable period				10 years
2011 Equity Incentive Plan | Stock Options | First Anniversary
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employee stock options vesting percentage				25.00%
2017 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized		28,423,374		28,423,374
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant		4,497,229		4,497,229

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Stock Option Activity Under 2011 and 2017 Stock Plan (Details) - 2011 and 2017 Plans - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Apr. 28, 2018	Jul. 29, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Number of Options, Beginning balance	10,218,912
Options Outstanding, Number of Options, Granted	1,850,823
Options Outstanding, Number of Options, Exercised	(1,075,740)
Options Outstanding, Number of Options, Cancelled	(954,844)
Options Outstanding, Number of Options, Ending balance	10,039,151	10,218,912
Options Outstanding, Weighted-Average Exercise Price, Beginning balance	$ 7.12
Options Outstanding, Weighted-Average Exercise Price, Granted	20.81
Options Outstanding, Weighted-Average Exercise Price, Exercised	1.93
Options Outstanding, Weighted-Average Exercise Price, Cancelled	6.08
Options Outstanding, Weighted-Average Exercise Price, Ending balance	$ 10.30	$ 7.12
Options Outstanding, Weighted-Average Remaining Contractual Life (in Years)	8 years 2 months 23 days	8 years 6 months 10 days
Options Outstanding, Aggregate Intrinsic Value	$ 115,019	$ 166,670

Stock Based Compensation - Su33

Stock Based Compensation - Summary of Restricted Stock Units Award Activity (Details) - Restricted Stock Units (RSUs)	9 Months Ended
	Apr. 28, 2018$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 19.86
Weighted Average Grant Date Fair Value, Vested | $ / shares	19.38
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	14.04
Weighted Average Grant Date Fair Value, Ending balance | $ / shares	$ 19.99
Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock unit award activity, Granted | shares	1,946,192
Restricted stock unit award activity, Vested | shares	(24,982)
Restricted stock unit award activity, Forfeited | shares	(96,497)
Restricted stock unit award activity, Ending balance | shares	1,824,713

Stock Based Compensation - Su34

Stock Based Compensation - Summary of Assumptions Used in Black-Scholes Option-Pricing Model to Determine Fair Value of Stock Options (Details)	3 Months Ended		9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Volatility,minimum	41.60%	45.30%	41.40%	43.90%
Volatility,maximum	42.00%	45.40%	43.50%	46.00%
Risk free interest rate,minimum	2.60%	2.20%	1.90%	1.30%
Risk free interest rate,maximum	2.90%	2.30%	2.90%	2.30%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	5 years 4 months 24 days	5 years 8 months 12 days	5 years 4 months 24 days	5 years 4 months 24 days
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 1 month 6 days	6 years 4 months 24 days	6 years 7 months 6 days	6 years 6 months

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Tax Rate from Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ 9,961	$ (8,831)	$ 45,837	$ 15,948
Provisions for income taxes	$ 474	$ 732	$ 19,221	$ 12,035
Effective tax rate	4.80%	(8.30%)	41.90%	75.50%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	4 Months Ended	5 Months Ended	9 Months Ended
	Apr. 28, 2018	Dec. 31, 2017	Apr. 28, 2018
Income Tax Disclosure [Abstract]
Federal statutory tax rate	21.00%	35.00%	26.96%
Tax Cuts and Jobs Act of 2017 change in tax rate income tax expense (benefit)			$ 4.7

Earnings (Loss) Per Share Att37

Earnings (Loss) Per Share Attributable to Common Stockholders - Additional Information (Details) - IPO	Nov. 16, 2017Voting_Rightshares	Apr. 28, 2018
Earnings Per Share Diluted [Line Items]
Number of Class A common stock callable by each Class B common stock | shares	1
Class A Common Stock
Earnings Per Share Diluted [Line Items]
Common stock, voting rights		one vote per share
Common stock, voting rights per share	1
Class B Common Stock
Earnings Per Share Diluted [Line Items]
Common stock, voting rights		ten votes per share
Common stock, voting rights per share	10

Earnings (Loss) Per Share Att38

Earnings (Loss) Per Share Attributable to Common Stockholders - Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Numerator:
Net income	$ 9,487	$ (9,563)	$ 26,616	$ 3,913
Denominator:
Basic	97,055,573	25,094,602	68,596,978	24,729,238
Weighted-average shares of common stock - diluted	101,847,521	25,094,602	74,281,211	28,988,334
Earnings (loss) per share attributable to common stockholders:
Basic	$ 0.10	$ (0.38)	$ 0.28	$ 0.02
Diluted	$ 0.09	$ (0.38)	$ 0.15	$ 0.02
Class A Common Stock
Numerator:
Net income	$ 1,496		$ 2,895
Less: noncumulative dividends to preferred stockholders			(83)
Less: undistributed earnings to participating securities	(5)		(738)
Net income (loss) attributable to common stockholders - basic	1,491		2,074
Less: change in fair value of preferred stock warrant liability (net of tax)			(10,685)
Add: adjustments to undistributed earnings to participating securities	1		3,033
Reallocation of undistributed earnings	7,967		16,991
Net income (loss) attributable to common stockholders - diluted	$ 9,459		$ 11,413
Denominator:
Basic	15,304,926		7,460,177
Conversion of Class B to Class A common shares outstanding	81,750,647		61,136,801
Effect of dilutive stock options and restricted stock units	4,791,948		5,258,943
Effect of potentially dilutive preferred stock warrants			425,290
Weighted-average shares of common stock - diluted	101,847,521		74,281,211
Earnings (loss) per share attributable to common stockholders:
Basic	$ 0.10		$ 0.28
Diluted	$ 0.09		$ 0.15
Class B Common Stock
Numerator:
Net income	$ 7,991	$ (9,563)	$ 23,721	$ 3,913
Less: noncumulative dividends to preferred stockholders			(685)	(1,905)
Less: undistributed earnings to participating securities	(24)		(6,045)	(1,428)
Net income (loss) attributable to common stockholders - basic	7,967	(9,563)	16,991	580
Less: change in fair value of preferred stock warrant liability (net of tax)			(10,685)
Add: adjustments to undistributed earnings to participating securities	1		2,703	68
Reallocation of undistributed earnings	62		1,258
Net income (loss) attributable to common stockholders - diluted	$ 8,030	$ (9,563)	$ 10,267	$ 648
Denominator:
Basic	81,750,647	25,094,602	61,136,801	24,729,238
Effect of dilutive stock options and restricted stock units	4,712,239		5,258,943	4,259,096
Effect of potentially dilutive preferred stock warrants			425,290
Weighted-average shares of common stock - diluted	86,462,886	25,094,602	66,821,034	28,988,334
Earnings (loss) per share attributable to common stockholders:
Basic	$ 0.10	$ (0.38)	$ 0.28	$ 0.02
Diluted	$ 0.09	$ (0.38)	$ 0.15	$ 0.02

Earnings (Loss) Per Share Att39

Earnings (Loss) Per Share Attributable to Common Stockholders - Schedule of Common Stock Equivalents Excluded from Computation of Diluted Earnings (Loss) Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Apr. 28, 2018	Apr. 29, 2017	Apr. 28, 2018	Apr. 29, 2017
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share	5,565,532	60,859,425	7,195,491	61,238,029
Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share		59,511,055		59,511,055
Preferred Stock Warrants
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share		1,066,225		1,066,225
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share	1,055,524		1,946,192
Stock Options | Class A Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share	558,372		982,958
Stock Options | Class B Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings (loss) per share	3,951,636	282,145	4,266,341	660,749