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所以仓储成本是在fulfillment里，快递成本是在cogs里？是这么理解么？CHWY也没有披露outbound freight成本数字吧，但是披露了fulfillment，我理解是outbound freight成本可能不够material?
看CHEWY fullfillment的定义：
Fulfillment costs represent those costs incurred in operating and staffing fulfillment and customer service centers, including costs attributable to buying, receiving, inspecting and warehousing inventories, picking, packaging and preparing customer orders for shipment, payment processing and related transaction costs, and responding to inquiries from customers.
这个并不包括outbound freight.
你看 年报第42页，很清楚的说明了outbound freight在COGS里面。
Cost of Goods Sold and Gross Profit Cost of goods sold for Fiscal Year 2020 increased by $1.6 billion, or 43.8%, to $5.3 billion compared to $3.7 billion in Fiscal Year 2019. This increase was primarily due to a 48.9% increase in orders shipped and associated product costs, outbound freight, and shipping supply costs. The increase in cost of goods sold was lower than the increase in orders on a percentage basis, primarily as a result of realized supply chain efficiencies and change in mix of sales as hardgoods, healthcare, and proprietary brand businesses continue to grow faster than the overall business.
这是chewy的2020年报里的：For Fiscal Year 2020, Fiscal Year 2019, and Fiscal Year 2018 the Company recorded fulfillment costs of $ 871.0 million, $ 546.2 million, and $ 403.9 million, respectively, which are included within selling, general and administrative expenses in the consolidated statements of operations.
我看了chewy的年报，chewy也是把fulfillment cost（物流成本）放到SG&A下面的，而不是COGS里面。这样和Bark的毛利率口径其实是一样的。你是不是看错了，确认下。
是的，之前investor presentation active customer用的定义是最后一个月的订阅数。后来更新的SEC文件用的是你说的年度购买用户，之前的更像MAU。这样看，公司在某些财务指标譬如上有些sneaky，他完全可以用一个新的名词而不是会引起误解的active subscription来定义年度买家。
看了下1.7mm sub的来源和定义，这1.7指的是过去12个月订阅过一次的用户数，和阿里的annual active customer定义类似，并不是现在就active的sub，所以这是一个比较loose的定义，1.1m那个是紧口径的，是当月active sub，做财务模型这个可能过更相关。