Key Takeaways Chewy reported NSPAC of $591 in Q4'25, up 4% y/y, showing improved monetization.CHWY gains from strong new cohorts with high repeat purchases and rising first-year spend.Chewy's health ecosystem and private brands lift spend, with Vet Care acting as the fastest NSPAC driver.Chewy, Inc. (CHWY) is increasingly positioning Net Sales Per Active Customer (NSPAC) as a core driver of its growth model, complementing steady customer additions with higher spending per user. The company reported NSPAC of ...