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1stdibs.com, Inc. (NASDAQ: DIBS) is the premier luxury marketplace for rare and desirable objects in furniture, fashion, fine art, and jewelry. Since its inception in 2001, 1stdibs has connected the world’s most respected dealers and makers with sophisticated collectors who are passionate about beautiful design. The company's core business revolves around its online marketplace, which facilitates commerce between sellers and buyers of high-end, vintage, and contemporary items.
1stdibs operates through two main reporting units: the 1stDibs online marketplace and Design Manager, a platform offering software solutions to interior designers. The company's revenue is primarily derived from fees for seller marketplace services, advertisements, and software services.
Led by seasoned executives like CEO David Rosenblatt, formerly of DoubleClick, and CFO Tom Etergino, the company has made significant strides in financial health and operational efficiency. Despite challenges in the luxury housing market, 1stdibs has reduced its cost structure, improved EBITDA margins, and focused on high-ROI projects.
Recently, 1stdibs announced its third-quarter financial results, showcasing a 20% reduction in operating expenses and significant improvements in EBITDA margins. The company is well-positioned for future growth, supported by a strong balance sheet and low cash burn.
Additionally, 1stdibs is committed to supporting the design community through initiatives like the annual 1stDibs 50 list, which celebrates leading design talents globally. The list is a testament to the brand's dedication to promoting excellence in design.
For the latest updates and detailed information about 1stdibs, please visit the company's Investor Relations website.
1stdibs.com, Inc. (Nasdaq: DIBS), a leading marketplace for extraordinary design, has announced plans to release its third quarter 2024 financial results on Friday, November 8, 2024. The results will be disclosed in a press release before the market opens, accessible via the company's Investor Relations website. Additionally, 1stDibs will host an earnings webcast at 8:00 a.m. Eastern Time on the same day to discuss the results. The webcast can be accessed through the Investor Relations website, with a replay available for one year thereafter.
1stDibs is described as a premier online marketplace that connects design enthusiasts with sellers and makers of vintage, antique, and contemporary furniture, home décor, art, jewelry, watches, and fashion.
1stDibs (NASDAQ: DIBS), the online marketplace for luxury design products, released its financial results for Q2 2024.
Key highlights include:
- Net revenue: $22.2 million, up 6% YoY
- Gross profit: $15.9 million, up 9% YoY
- Gross margin: 71.7%, up from 69.8% in Q2 2023
- GAAP net loss: $4.4 million, improved from $8.3 million in Q2 2023
- Adjusted EBITDA: $(1.6) million, improved from $(4.6) million in Q2 2023
- Cash and equivalents: $110.6 million
CEO David Rosenblatt highlighted growth in GMV, revenue, orders, and conversion rates. CFO Tom Etergino noted improved monetization, margins, and reduced operating expenses.
Q2 2024 GMV was $91.5 million, up 2% YoY, with 34K orders, up 5% YoY. However, active buyers dropped by 6% to 61K. Q3 2024 guidance includes GMV between $84 million - $91 million, net revenue between $20.8 million - $22.1 million, and Adjusted EBITDA margin between (15%) - (10%).
1stDibs (Nasdaq: DIBS), a leading marketplace for extraordinary design, has announced it will release its second quarter 2024 financial results on Tuesday, August 6, 2024, before the market opens. The company will host an earnings webcast at 8:00 a.m. Eastern Time on the same day to discuss the results. Both the press release and webcast will be accessible through the 1stDibs Investor Relations website. A replay of the webcast will be available for one year following the conference call.
1stDibs is an online marketplace that connects design enthusiasts with sellers of vintage, antique, and contemporary furniture, home décor, art, jewelry, watches, and fashion.
1stDibs (Nasdaq: DIBS), a prominent online marketplace for design, has completed its $25.2 million share repurchase program. The company bought back approximately 4.9 million shares at an average price of $5.12 per share. This includes 3.0 million shares repurchased from Insight Partners at an average price of $5.23 per share in a private transaction. CEO David Rosenblatt stated that this move enhances shareholder value and positions the company for future growth while maintaining a strong cash position.
1stdibs.com, Inc. (NASDAQ: DIBS) reported their first quarter financial results for 2024, showcasing a decrease in net revenue to $22.1 million (1% YoY decrease), an increase in gross profit to $16.0 million (7% YoY increase), and a decrease in GAAP net loss to $3.3 million compared to $8.1 million in Q1 2023. The company's gross margin improved to 72.5%, and their Cash, cash equivalents, and short-term investments totaled $134.2 million as of March 31, 2024.
The CEO highlighted progress against key goals, with improvements in demand metrics, conversion rates, GMV, and order growth. The CFO noted a stronger financial foundation, with improved take rates, expanded gross margins, lower operating expenses, and higher Adjusted EBITDA Margins.
However, some metrics saw declines, such as GMV at $91.7 million (6% YoY decrease), number of orders at approximately 35K, and active buyers at approximately 61K (9% YoY decrease).
The Company's Q2 2024 guidance includes GMV of $85 million - $92 million, net revenue of $21.0 million - $22.3 million, and Adjusted EBITDA margin of (14%) - (9%).
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