Welcome to our dedicated page for 1Stdibs.Com news (Ticker: DIBS), a resource for investors and traders seeking the latest updates and insights on 1Stdibs.Com stock.
1Stdibs.Com, Inc. (DIBS) operates a premier online marketplace for luxury vintage and contemporary design. This news hub provides investors and design professionals with essential updates on corporate developments, strategic partnerships, and market positioning in the high-end goods sector.
Access timely press releases and curated financial news covering earnings reports, leadership announcements, and operational milestones. Our repository ensures stakeholders stay informed about DIBS' evolving role in connecting collectors with rare furniture, fine jewelry, and exclusive art pieces through its authenticated platform.
Key updates include quarterly financial performance, designer collaborations, technological enhancements to the marketplace, and industry recognition. Bookmark this page for direct access to primary source materials that illuminate 1Stdibs' unique position at the intersection of luxury e-commerce and curated design experiences.
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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