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Boxed, Inc. reported a 19.4% year-over-year increase in Gross Merchandise Value (GMV) to $52.7 million and an 11.2% increase in Retail Net Revenue to $43.6 million for Q2 2022. The company aims to achieve Adjusted EBITDA profitability by the end of 2024, focusing on high-margin segments such as B2B and Software & Services. Despite a net loss of $31.8 million, active customer growth and a strong performance in the B2B segment were highlighted. The company has revised its FY 2022 revenue guidance to between $165 and $180 million.
Boxed, Inc. (NYSE: BOXD, BOXD WS) has relaunched its Software & Services division as Spresso, expanding its offerings with data-driven solutions for e-commerce. The platform includes features for storefront, marketplace, B2B services, and more. Notably, Boxed announced a strategic partnership with Jeffers Pet, enhancing its customer service and operational efficiency. The collaboration aims to leverage Spresso’s advanced analytics and machine learning technologies to improve profitability and user experience, showcasing Boxed's potential as an enabler in the e-commerce space.
Boxed, Inc. (NYSE: BOXD, BOXD WS) announced it will report its second quarter results for the period ending June 30, 2022, on August 9, 2022, after market close. A conference call to discuss these results will be held at 4:30 p.m. ET on the same day.
Investors can join the live call by dialing 844-200-6205 (U.S.) or 929-526-1599 (international) and entering code 976677. The webcast will also be available for replay on the Boxed Investor Relations website.
Boxed, Inc. (NYSE: BOXD, BOXD WS) announced the appointment of Tsukasa Ojima to its Board of Directors, effective immediately. Ojima, a seasoned executive from AEON Co. Ltd, brings extensive experience in business development and branding. This appointment comes after Yuki Habu stepped down to fulfill her new role on AEON's Board. Ojima's leadership is expected to enhance Boxed's strategic initiatives, especially following collaborations with AEON to expand digital capabilities in Malaysia and Vietnam.
Boxed, Inc. has signed a Memorandum of Understanding with AEON CO LTD to launch its e-commerce software in Vietnam, marking an expansion of their partnership beyond Malaysia. This move aims to enhance AEON's digital capabilities and e-commerce growth in the Vietnamese market. Boxed's proprietary technology will facilitate AEON's omnichannel initiatives, showcasing Boxed’s ability to operate internationally. Boxed's COO highlighted the significance of this expansion as their first venture involving a non-English implementation.
Boxed, Inc., an online retailer specializing in bulk household consumables, has signed a Memorandum of Understanding with AEON Vietnam Company Limited, aiming to launch its e-commerce software in Vietnam by the end of 2022. This partnership builds on their successful collaboration in Malaysia, where Boxed's technology powered AEON’s e-commerce capabilities. As Boxed expands into Vietnam, it highlights its ability to execute in non-English markets. The companies are also exploring further partnerships in Indonesia and other strategic markets.
Boxed, an e-commerce grocery platform, announced participation in key investor conferences in June 2022. On June 15, Boxed will host a fireside chat at the Oppenheimer 22nd Annual Consumer Growth and E-Commerce Virtual Conference at 3:00 p.m. ET. The company will also participate in the Jefferies Consumer Conference from June 20-22, with a chat available on June 20 at 8:00 a.m. ET. Additionally, Boxed will host a fireside chat on June 29 at the Wells Fargo 4th Annual 'Bricks to Clicks' Digital Conference at 8:40 a.m. ET. Live webcasts will be accessible on Boxed's Investor Relations website.
Boxed, Inc. (NYSE: BOXD, BOXD WS) has been added to the Russell 2000® Index, effective June 27, 2022. This membership signifies the company’s growth following its recent business combination. The Russell 2000® Index represents the small-cap segment of the U.S. equity market, with approximately $12 trillion in assets benchmarked against Russell's indexes. Boxed's CEO, Chieh Huang, stated that inclusion in this index will enhance awareness of Boxed as the company pursues its growth objectives.
Boxed, Inc. (NYSE: BOXD, BOXD WS) announced its inclusion in the MSCI Global Small Cap Indexes – MSCI USA Index, effective May 31, 2022. This milestone enhances Boxed's visibility among institutional investors and highlights the company's growth potential. The MSCI index is a benchmark for global investors, indicating a significant recognition of Boxed's accomplishments in the e-commerce grocery market. Boxed operates a retail platform that offers bulk consumables to customers without requiring membership, supported by proprietary technology.
Boxed has announced a new multi-year partnership with FedEx to enhance its delivery services nationwide. The agreement will allow Boxed to increase shipment volumes, reducing transportation costs and enabling reinvestment in lower prices and more promotions for customers. The collaboration aims to improve delivery capabilities, providing customers with a seven-day service, enhancing overall customer experience. This partnership highlights how e-commerce and logistics can work together to meet evolving customer demands in a challenging supply chain environment.
