Stitch Fix Financial Statements and Guidance for Q3'18 and FY'18, Slides of Marketing

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Exclusive Brand Looks Forward to Next Fix: “ Yes!”

Richard Requests a Fix; a Patented Algorithm Matches Him to Brooke

RICHARD, CLIENT

• Fixes received to date: 6
• Age: 35
• Location: New York, NY
• Style: Business Casual, Workout Clothes
• Profession: Technology

Brooke Styles the Fix

3. Richard Receives a Personalized

Delivery & Decides What to Keep

From home, Brooke logs into a custom, web-based styling application, which algorithmically recommends product for Richard based on his profile, prior feedback, and available inventory. Along with the recommendations, Brooke uses her judgment and considers specific requests from Richard to select what she believes are the five best items for this Fix. Brooke writes a personal note to Richard, offering styling advice and her reasons for selecting each item.

BROOKE, STYLIST

• Part-time employee, paid hourly
• Works 19-25 hours per week
• Prior experience: Retail
• Location: Mission Viejo, CA
• Takes 14 minutes to style this Fix

4. Richard Provides Direct Structured

& Unstructured Feedback

3 Items Kept: $358.00 Total

Richard reads the Style Card with the personalized note from Brooke and advice on how to wear each item. He tries on the clothes and goes to the Stitch Fix app or website to indicate what he is keeping and returning. He sends back two items in the prepaid USPS bag. At checkout, Richard provides written feedback and rates each of the five items on the following dimensions: PRICE STYLE QUALITY

One Fix at a Time, One Client at a Time

5. Brooke Reviews the Feedback

In the styling application, Brooke reads Richard’s feedback and captures any learnings. The feedback is simultaneously aggregated into our full dataset to drive future algorithmic learnings. To illustrate the client and stylist interactions during a typical Fix order, we’ve included below a process example. “This is a great vest, it’s a little higher than I would normally spend but I really liked it!” “Great shirt for weekends or days off in the fall and winter, thank you” “The Cashmere cotton crew neck was great, I just currently have a lot of these type of sweaters” Matched Your Style:  Satisfied:  Personalized: 

In Women’s, we expanded our product assortments from our newest brand partners, and applied learnings from our initial Women’s offering to Plus-size. In Men’s, we leveraged feedback to more closely align our inventory with client preferences across size and price. Women’s Expanding Assortment. In the first quarter of 2018 , we added several recognized brand partners to our portfolio of Women’s brands, and in the second quarter began rolling out an expanded assortment of these brands to meet client demand. These recently added brand partners include Calvin Klein, Levi’s, Tahari, and Tommy Hilfiger. Client feedback to date has been very positive, with Calvin Klein workwear dresses in particular garnering early favorable style ratings. Our focus on establishing innovative partnerships also extended to performance wear brands in recent quarters. We’ve partnered with several brands including Beyond Yoga and Sweaty Betty, in addition to announcing our pilot partnership with Nike, which commences in Spring

2018. We believe these partnerships will enable us to address more of our clients’ apparel needs over time. Leveraging Learnings in Plus-size. The large category that we’ve built in our size 0 - 14 Women's offering has proven to be a significant advantage in our launch of Plus-size. Leveraging our knowledge of best selling styles from our initial Women’s product offering and nuancing those styles for our Plus-sized clients has been a highly successful strategy. Our top 20 best selling Plus styles were all informed through data and insights gained from our initial offering. In fact, our top selling Plus style in Q 2 ’ 18 , the Abrianna Cardigan, was originally sized for 0 - 14 and then customized for Plus. Over 80 % of our Plus-sized clients who received the item in their Fix shared that they "liked" or "loved" this cardigan at the time of checkout. Men’s Since launching Men’s in September 2016 , we’ve made significant improvements to the size and fit of our offering, in addition to better meeting the price preferences of our clients. Our male clients have shared that these are among the most important attributes they consider when buying clothes. Customizing Size. In Q 2 ’ 18 , we improved overall success rates for our XXL-sized men by using client feedback to create new size specifications for the builds of these clients. We incorporated feedback on attributes including shoulder, chest, sleeve, and hem to create a new fit block that led to a significant improvement in XXL client satisfaction and sales. For clients who identified as having a “husky” body shape (representing over 70 % of XXL clients), success rates for these newly sized items were 36. 6 % higher than the items using the prior sizing specifications.

Q2’18 Business Highlights:

Expanding Price Points. In recent quarters, we extended our Men’s inventory assortment to better align with clients’ diverse price preferences. We further penetrated lower price points by introducing five new Exclusive Brands, and expanding our market brand partnerships. To serve higher price preferences, we added contemporary brands such as Barbour, Paige, and Scotch & Soda, and emerging brands such as NAU, Rhône, and Rodd & Gunn. This strategy resulted in increased success rates across both lower and higher price segments, and better met client price point preferences relative to Q 2 ’ 17. We grew our active client count to 2. 5 million as of January 27 , 2018 , an increase of 588 , 000 and 30. 6 % year over year. Our active client growth reflects our progress in optimizing our advertising channel mix and our client acquisition efficiency. In Q 2 ’ 18 , we added personalization to our referral program and increased our use of data science to measure and deploy spend across our key paid channels. Referral Program Enhancements. We are focused on personalizing each client’s experience. As one example, we recently introduced a more personalized client referral program, which included custom, gender- specific landing pages that we developed for prospective referred clients. These landing pages drove approximately 7 % higher sign-up conversion rates among referred client traffic in Q 2 ’ 18 than with non-personalized pages. We will continue to explore ways to leverage personalization to bolster the client journey. Marketing Attribution and Performance Measurement. Consistent with our disciplined, ROI-based approach to client acquisition, we recently developed incrementality measurement tools to more accurately attribute costs to specific marketing channels. With these tools, we’ve improved how we allocate our marketing spend across key digital channels. We are also beginning to use data science to improve our targeting and bidding decisions by more accurately predicting client margin at a granular level. We used data science to enhance our inventory management and styling tools to advance our personalization capabilities. Algorithmic Repurchasing. Just as our stylists leverage algorithmic recommendations to curate personalized Fixes, our merchandise buyers also rely on data science to determine the breadth and depth of their inventory buys. When purchasing inventory, buyers purchase new styles and repurchase proven, successful past styles, thereby making these styles available to more clients, and mitigating inventory risk. Beginning in late fiscal 2017 , our Women’s buyers began using algorithmic rebuying tools to inform their inventory repurchase decisions. The algorithm helps buyers to quickly identify products that it predicts will appeal to specific client segments across a broad spectrum of characteristics that include age, price preference, style, size, and fit. This data-driven repurchasing strategy has resulted in a significant increase in client satisfaction across style and fit, and we believe that is has resulted in higher average order value.

Extras. In February 2018 , we expanded our offering to address more of our clients’ wallet share through a functionality called Extras. It serves our initial Women’s offering, Plus-size, and maternity clients and adds flexibility to our offering by allowing clients to add essentials such as underwear, socks, bras, and other items, in addition to the five items in their Fix. Extras products range in price from approximately $ 10 to $ 65 , and include market brands such as Hue and Hanky Panky, as well as Exclusive Brands. After scheduling a Fix, clients have the option of selecting the style, color, size, and quantity of Extras items to add to their Fix. By adding this functionality and allowing our clients to select additional items to include in each Fix, we fulfill a client need and can also drive incremental revenue and margin per order. While Extras represents a limited selection of items today, we believe the new technological and operational capabilities it incorporates reflect a step change in enabling us to provide more personalized experiences to our clients.

Active Clients

We grew our active client count to 2. 5 million as of January 27 , 2018 , an increase of 588 , 000 and 30. 6 % year over year. We define an active client as a client who checked out a Fix in the preceding 12 - month period, measured as of the last date of that period. A client checks out a Fix when he or she indicates which items he or she is keeping through our mobile app or website.

Net Revenue

We grew our net revenue to $ 295. 9 million in Q 2 ’ 18 , compared to $ 237. 8 million in Q 2 ’ 17 , an increase of 24. 4 % year over year. Our performance was driven by our continued growth in active clients from both our Women’s and Men’s categories. Net revenue per active client for the 12 months ended January 27 , 2018 was $ 437 , a decrease of 3. 9 % compared to the 12 months ended January 28 , 2017. This decline was primarily driven by our continued and growing strategic expansion into Men’s and lower price point merchandise. Although our male clients on average have a lower purchase frequency, which dilutes our overall net revenue per active client, we continue to be pleased with the revenue contribution and profitable unit economics of the Men’s category. Similarly, we’ve been encouraged by our ability to serve lower price point clients effectively and plan to further penetrate this market.

Gross Margin

Q 2 ’ 18 gross margin was 43. 0 %, compared to 44. 9 % in Q 2 ’ 17 , a decrease of 190 basis points. The largest drivers of this margin decline were the result of our planned investments in Men’s, Plus-size, and Premium Brands, as well as increased shrink. First, as we grow our business and expand our assortment across categories, sizes, and price points, we’ve planned increased clearance activity to reflect our inventory investments to ensure that we’re able to serve our clients well as we learn about their preferences. As these initiatives achieve scale, we expect to improve our inventory efficiency and thus our clearance rates and gross margins. In Q 2 ’ 18 , clearance activity resulted in gross margin dilution of 60 basis points year over year. Second, an increase in year-over-year shrink of 60 basis points contributed to the Q 2 ’ 18 gross margin decline. We are actively working on various strategies to reduce shrink, including using technology to help manage client behavior and improve our carrier claims process. Third, our shipping costs were 30 basis points higher year over year, largely due to Men’s and Plus being shipped out of two and three warehouses, respectively, compared to the five warehouses we currently use to ship our initial Women’s product. (^4) Discounts, sales tax and estimated refunds are deducted from revenue to arrive at net revenue.

Q2’18 Financial Highlights:

1, 2, 2, 2, 2, Q2'17 Q3'17 Q4'17 Q1'18 Q2' ACTIVE CLIENTS (000s) $237.8 $245.^ $258. $295.6 $295. Q2'17 Q3'17 Q4'17 Q1'18 Q2' NET REVENUE ($M)^4 42.2% 44.3% 44.5% 44.9% (^) 43.0% FY'15 FY'16 FY'17 Q2'17 Q2' GROSS MARGIN (%)

We continue to believe that our marketing programs present a large opportunity for us to harness the power of our data science capabilities to attract and re-engage high-quality clients more effectively. In Q 2 ’ 18 , our ability to apply data science to marketing attribution and performance measurement demonstrated this commitment.

Net Income

Q 2 ’ 18 net income was $ 3. 6 million, or 1. 2 % of net revenue, compared to Q 2 ’ 17 net income of $ 0. 2 million, or 0. 1 % of net revenue, an increase in margin of 110 basis points. Q 2 ’ 18 non-GAAP net income was $ 6. 8 million, or 2. 3 % of net revenue, compared to $ 13. 8 million, or 5. 8 % of net revenue in Q 2 ’ 17. Non-GAAP net income excludes the impact of the remeasurement of our preferred stock warrant liability, which was a gain of $ 1. 6 million in Q 2 ’ 18 and a loss of $ 1. 1 million in Q 2 ’ 17. It also excludes a $ 4. 7 million increase in tax expense related to the remeasurement of our net deferred tax assets as a result of the tax reform law passed in December. In addition, it excludes the $ 12. 4 million impact of compensation expense related to certain stock sales by current and former employees in Q 2 ’ 17 , net of tax.

Earnings Per Share

Q 2 ’ 18 diluted earnings per share was $ 0. 02 , compared to zero in Q 2 ’ 17. On a non-GAAP basis, Q 2 ’ 18 diluted EPS^6 was $ 0. 07 compared to $ 0. 42 in Q 2 ’ 17.

Adjusted EBITDA

Q 2 ’ 18 adjusted EBITDA was $ 18. 2 million, or 6. 2 % of net revenue, compared to Q 2 ’ 17 adjusted EBITDA of $ 24. 1 million, or 10. 1 % of net revenue, a decrease in margin of 390 basis points. This margin compression was planned and the result of our decision to continue investing in new strategic initiatives, technology talent and marketing. Note that we do not exclude stock-based compensation expense, which we treat as an investment, from our adjusted EBITDA calculation.

Cash

Even as we invest, we continue to drive free cash flow. We added $ 135. 1 million of cash to the balance sheet in Q 2 ’ 18 , and ended the quarter with $ 275. 5 million of cash and restricted cash. This balance included proceeds from our initial public offering, which closed in Q 2 ’ 18. Through this offering, we received approximately $ 127. 1 million in net proceeds after deducting underwriting discounts and offering costs. The increase was also driven by $ 8. 9 million in cash from operating activities, partially offset by $ 4. 0 million in capital expenditures related to investments in our warehouses and proprietary systems. 10 For more information regarding the non- GAAP financial measures discussed in this letter, please see "Non-GAAP Financial Measures," below, including the reconciliations of our non-GAAP measures to their most directly comparable GAAP financial measures included at the end of this letter. (^6) We define non-GAAP EPS as diluted EPS excluding the per share impact of the remeasurement of preferred stock warrant liability and, when present, compensation expense related to certain stock sales by current and former employees, and their related tax impacts, if any, as well as the per share impact of the remeasurement of our net deferred tax assets in relation to the adoption of the Tax Cuts and Jobs Act. (^7) We define adjusted EBITDA as net income excluding other (income), net, provision for income taxes, depreciation and amortization, the remeasurement of preferred stock warrant liability and, when present, compensation expense related to certain stock sales by current and former employees. $20. $33. ($0.6) $0.^ $3. FY'15 FY'16 FY'17 Q2'17 Q2' NET INCOME ($M) $42. $72. $60. $24.1 (^) $18. FY'15 FY'16 FY'17 Q2'17 Q2' ADJUSTED EBITDA ($M)^7

Guidance:

Our financial outlook for Q 3 ’ 18 , which ends on April 28 , 2018 , and for the fiscal year 2018 , which ends on July 28 , 2018 , is as follows: Q3’ Net Revenue $300 – $310 million 22% – 26% YoY growth Adjusted EBITDA $5.0 – $10.0 million 1.7% – 3.2% margin We have not reconciled adjusted EBITDA outlook to GAAP net income (loss) because we do not provide an outlook for GAAP net income (loss) due to the uncertainty and potential variability of other income, net and provision for (benefit from) income taxes, which are reconciling items between adjusted EBITDA and GAAP net income (loss). Because such items cannot be reasonably predicted, we are unable to provide a reconciliation of the non-GAAP financial measure outlook to the corresponding GAAP measure. However, such items could have a significant impact on GAAP net income (loss). Consistent with our Q 2 ’ 18 results, our outlook reflects the following principles by which we manage our business: drive sustainable top-line growth that ensures a great client experience, balance growth with profitability, and maintain a long-term, ROI-based view on our investments.

Closing

We will host a conference call and earnings webcast at 2 : 00 pm Pacific time/ 5 : 00 pm Eastern time today to discuss these results. A live webcast will be accessible on Stitch Fix’s investor relations website at investors.stitchfix.com. Interested parties can access the call by dialing 877 - 857 - 6176 in the U.S. or 719 - 457 - 2642 internationally, using conference code 8518439. The call will also be available via live webcast at investors.stitchfix.com. Thank you for taking the time to read our letter, and we look forward to your questions on our call this afternoon. Sincerely, Katrina Lake, Founder and CEO Paul Yee, CFO

FY’

Net Revenue $1,190 – $1,220 million 22% – 25% YoY growth Adjusted EBITDA $45 – $55 million 3.8% – 4.5% margin MEDIA CONTACT media@stitchfix.com INVESTOR RELATIONS CONTACT ir@stitchfix.com

Stitch Fix, Inc. Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (In thousands, except share and per share amounts) For the Three Months Ended For the Six Months Ended January 27, 2018 January 28, 2017 January 27, 2018 January 28, 2017 Revenue, net $ 295,906 $ 237,775 $ 591,469 $ 473, Cost of goods sold 168,523 131,053 335,071 256, Gross profit 127,383 106,722 256,398 216, Selling, general and administrative expenses 111,771 105,835 231,242 189, Operating income 15,612 887 25,156 27, Remeasurement of preferred stock warrant liability (1,614 ) 1,146 (10,685 ) 2, Other income, net (18 ) (6 ) (35 ) (13 ) Income (loss) before income taxes 17,244 (253 ) 35,876 24, Provision for (benefit from) income taxes 13,603 (486 ) 18,747 11, Net income and comprehensive income $ 3,641 $ 233 $ 17,129 $ 13, Earnings per share attributable to common stockholders: Basic $ 0.04 $ — $ 0.18 $ 0. Diluted $ 0.02 $ — $ 0.06 $ 0. Weighted-average shares used to compute earnings per share attributable to common stockholders: Basic 82,439,351 — 54,377,466 24,546, Diluted 87,954,656 — 60,599,568 29,134,

Stitch Fix, Inc. Condensed Consolidated Statements of Cash Flow (Unaudited) (In thousands) For the Six Months Ended January 27, 2018 January 28, 2017 Cash Flows from Operating Activities Net income $ 17,129 $ 13, Adjustments to reconcile net income to net cash provided by operating activities: Deferred income taxes 5,498 (847 ) Remeasurement of preferred stock warrant liability (10,685 ) 2, Inventory reserves 7,027 3, Compensation expense related to certain stock sales by current and former employees — 9, Stock-based compensation expense 5,135 1, Depreciation and amortization 4,888 3, Loss on disposal of property and equipment 131 (7 ) Change in operating assets and liabilities: Inventory (19,529 ) (10,470 ) Prepaid expenses and other assets 5,078 (9,417 ) Accounts payable 10,843 13, Accrued liabilities 4,484 14, Deferred revenue 3,283 1, Gift card liability 2,961 3, Other liabilities (2,508 ) 3, Net cash provided by operating activities 33,735 49, Cash Flows from Investing Activities Purchase of property and equipment (8,232 ) (11,367 ) Net cash used in investing activities (8,232 ) (11,367 ) Cash Flows from Financing Activities Proceeds from initial public offering, net of underwriting discounts paid 129,046 — Proceeds from the exercise of stock options 1,006 922 Repurchase of Class B common stock related to early exercised options (39 ) (3,557 ) Net cash provided by (used in) financing activities 130,013 (2,635 ) Net increase in cash and restricted cash 155,516 35, Cash and restricted cash at beginning of period 119,958 101, Cash and restricted cash at end of period $ 275,474 $ 137, Components of cash and restricted cash Cash $ 266,374 $ 127, Restricted cash – current portion — — Restricted cash – long-term portion 9,100 9, Total cash and restricted cash $ 275,474 $ 137, Supplemental Disclosure Cash paid for income taxes $ 3,091 $ 18, Supplemental Disclosure of Non-Cash Investing and Financing Activities: Purchases of property and equipment included in accounts payable and accrued liabilities $ 780 $ 208 Capitalized stock-based compensation $ 261 $ 45 Vesting of early exercised options $ 456 $ 488 Deferred offering costs included in accounts payable and accrued liabilities $ 134 $ — Conversion of preferred stock upon initial public offering $ 42,222 $ — Reclassification of preferred stock warrant liability upon initial public offering $ 15,994 $ — Deferred offering costs paid in prior year $ 1,879 $ —

For the Three Months Ended For the Six Months Ended January 27, 2018 January 28, 2017 January 27, 2018 January 28, 2017 Non-GAAP net income (loss) reconciliation: Net income $ 3,641 $ 233 $ 17,129 $ 13, Add (deduct): Remeasurement of preferred stock warrant liability (1,614 ) 1,146 (10,685 ) 2, Compensation expense related to certain stock sales by current and former employees — 21,283 — 21, Tax impact of non-GAAP adjustments — (8,890 ) — (8,890 ) Impact of Tax Act (1)^ 4,730 - 4,730 — Non-GAAP net income $ 6,757 $ 13,772 $ 11,174 $ 28,

1. (^) As discussed in Note 8 to the condensed consolidated financial statements included in this Quarterly Report, the U.S. government enacted comprehensive tax legislation in December 2017. This resulted in a net charge of $4.7 million for the three and six months ended January 27, 2018, due to the remeasurement of our net deferred tax assets for the reduction in tax rate from 35% to 21%. The adjustment to non-GAAP net income only includes this transitional impact. It does not include the ongoing impacts of the lower U.S. statutory rate on current year earnings. The following table presents a reconciliation of net income to non-GAAP net income (loss) for each of the periods presented (in thousands): The following table presents a reconciliation of net income to Adjusted EBITDA for each of the periods presented (in thousands): 1 ) (^) As discussed in Note 8 to the condensed consolidated financial statements included in our Quarterly Report on Form 10 - Q for the fiscal quarter ended January 27 , 2018 , to be filed with the Securities and Exchange Commission on March 13 , 2018 (“Form 10 - Q”), the U.S. government enacted comprehensive tax legislation in December 2017. This resulted in a provisional net charge of $ 4. 7 million for the three and six months ended January 27 , 2018 , due to the remeasurement of our net deferred tax assets for the reduction in tax rate from 35 % to 21 %. The adjustment to non-GAAP net income related to the Tax Act only includes this transitional impact. It does not include the ongoing impacts of the lower U.S. statutory rate on current year earnings. For the Three Months Ended For the Six Months Ended January 27, 2018 January 28, 2017 January 27, 2018 January 28, 2017 Adjusted EBITDA reconciliation: Net income $ 3,641 $ 233 $ 17,129 $ 13, Add (deduct): Other income, net (18 ) (6 ) (35 ) (13 ) Provision for income taxes 13,603 (486 ) 18,747 11, Depreciation and amortization 2,618 1,924 4,888 3, Remeasurement of preferred stock warrant liability (1,614 ) 1,146 (10,685 ) 2, Compensation expense related to certain stock sales by current and former employees — 21,283 — 21, Adjusted EBITDA $ 18,230 $ 24,094 $ 30,044 $ 52,

For the Three Months Ended For the Six Months Ended January 27, 2018 January 28, 2017 January 27, 2018 January 28, 2017 Non-GAAP earnings per share - diluted reconciliation: Earnings per share attributable to common stockholders - diluted $ 0.02 $ — $ 0.06 $ 0. Per share impact of the remeasurement of preferred stock warrant liability(1)^ $ — $ 0.04 $ — $ 0. Per share impact of compensation expense related to certain stock sales by current and former employees $ — $ 0.66 $ — $ 0. Per share impact from tax effect of non-GAAP adjustments $ — $ (0.28 ) $ — $ (0.26 ) Per share impact from Tax Act(2)^ $ 0.05 $ — $ 0.08 $ — Non-GAAP earnings per share attributable to common stockholders - diluted $ 0.07 $ 0.42 $ 0.14 $ 0.

1. (^) For the three and six months ended January 27, 2018, the preferred stock warrant liability was dilutive and included in earnings per share attributable to common stockholders - diluted. Therefore, it is not an adjustment to arrive at non-GAAP EPS - diluted.
2. (^) As discussed in Note 8 to the condensed consolidated financial statements included in this Quarterly Report, the U.S. government enacted comprehensive tax legislation in December 2017. This resulted in a net charge of $4.7 million for the three and six months ended January 27, 2018, due to the remeasurement of our net deferred tax assets for the reduction in tax rate from 35% to 21%. The adjustment to non-GAAP earnings per share attributable to common stockholders - diluted only includes this transitional impact. It does not include the ongoing impacts of the lower U.S. statutory rate on current year earnings. Free cash flow is cash flow from operations reduced by purchases of property and equipment which is included in cash flow from investing activities. The following table presents a reconciliation of cash flows from operating activities, the most comparable GAAP financial measure, to free cash flow for each of the periods presented (in thousands): The following table presents a reconciliation of earnings per share attributable to common stockholders – diluted, the most comparable GAAP financial measure, to non-GAAP earnings per share attributable to common stockholders – diluted for each of the periods presented:
3. (^) For the three and six months ended January 27, 2018, the preferred stock warrant liability was dilutive and included in earnings per share attributable to common stockholders - diluted. Therefore, it is not an adjustment to arrive at non-GAAP EPS - diluted.
4. (^) As discussed in Note 8 to the condensed consolidated financial statements included in our Form 10-Q, the U.S. government enacted comprehensive tax legislation in December 2017. This resulted in a provisional net charge of $4.7 million for the three and six months ended January 27, 2018, due to the remeasurement of our net deferred tax assets for the reduction in tax rate from 35% to 21%. The adjustment to non-GAAP earnings per share attributable to common stockholders - diluted related to the Tax Act only includes this transitional impact. It does not include the ongoing impacts of the lower U.S. statutory rate on current year earnings. For the Six Months Ended January 27, 2018 January 28, 2017 Free cash flow reconciliation: Cash flows from operating activities $ 33,735 $ 49, Deduct: Purchase of property and equipment (8,232 ) (11,367 ) Free cash flow $ 25,503 $ 38, Cash flows from investing activities $ (8,232 ) $ (11,367 ) Cash flows from financing activities $ 130,013 $ (2,635 )