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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 has unveiled its annual 1stDibs 50, celebrating 50 top global designers recognized for their exceptional taste and creativity. Chosen from over 64,000 firms, this year's list includes 12 newcomers and highlights a significant representation of woman-owned businesses, making up 50% of the honorees. The selection process emphasizes the commitment of 1stDibs to showcase outstanding talent in the design industry. The honorees were recognized at a special event on March 30. View the full list and more details on the 1stDibs website.
1stDibs, a premier online luxury marketplace, marks one year of its auctions platform, revealing key insights into buyer and seller interactions. In Q4 2022, auction sell-through rates were approximately 1.4 times higher than those on the main platform. Since launching in November 2021, monthly auction page views have doubled, expanding beyond traditional categories to include jewelry and design objects. This unique model has attracted a younger demographic, with over 50% of bidders in Q4 2022 being first-time buyers. The platform offers significant discounts, with auctions averaging 65% off original prices, enhancing accessibility and engagement.
1stDibs, a premier luxury marketplace, marks its first anniversary of auctions with notable achievements. In Q4 2022, the company enhanced its sell-through rate by 1.4 times. The platform has doubled monthly page views since its November 2021 launch, indicating robust engagement. 1stDibs distinguishes itself by offering a mid-market auction model, appealing to younger, cost-conscious clientele with items priced well below traditional auction norms. Over 50% of bidders in Q4 2022 were new customers, highlighting successful outreach. The auctions facilitate a seamless selling experience, making high-quality goods accessible and revitalizing traditional auction dynamics.
1stdibs.com, Inc. (NASDAQ: DIBS) reported its Q4 and full-year 2022 financial results, showing a 15% decline in net revenue to $23.0 million year-over-year. Gross profit decreased 3% to $16.2 million with a gross margin of 70.5%. The GAAP net loss narrowed to $6.9 million from $8.1 million a year prior. Full-year net revenue fell 6% to $96.8 million, and the net loss was $22.5 million compared to $21.0 million in 2021. The company's cash and equivalents totaled $153.2 million at year-end. The first quarter 2023 guidance projects net revenue between $21.4 million and $22.5 million.
1stdibs.com, Inc. (DIBS), a premier marketplace for unique design, will announce its fourth quarter and full year 2022 financial results on March 1, 2023, before market opening. The results will be available on the 1stDibs Investor Relations website. An earnings webcast is scheduled for the same day at 8:00 a.m. ET to discuss the financial outcomes, with a replay accessible for one year post-event. 1stDibs specializes in connecting design enthusiasts with sellers of vintage, antique, and contemporary items including furniture, décor, art, and fashion.
1stdibs.com, a prominent online marketplace for design, announced that CEO David Rosenblatt and CFO Tom Etergino will present at the Raymond James Technology Investors Conference on December 6, 2022, at 9:45 a.m. ET. A live webcast and replay will be accessible via the company’s Investor Relations website. 1stdibs connects design enthusiasts with sellers of vintage, antique, and contemporary items, enhancing the art of design shopping.
1stdibs.com, Inc. (NASDAQ: DIBS) reported Q3 2022 results, revealing a net revenue of $22.7 million, down 11% year-over-year. Gross profit fell 14% to $15.5 million with a gross margin of 68.0%. The company incurred a GAAP net loss of $9.0 million, compared to $6.6 million in Q3 2021. Active buyers decreased by 5% to 68K, and gross merchandise value (GMV) was $99 million, down 9% year-over-year. Despite these challenges, management highlighted cost reduction efforts and ongoing plans to enhance operational efficiency.
1stdibs.com, Inc. (Nasdaq: DIBS) is set to announce its third quarter 2022 financial results on November 9, 2022, prior to market opening. The press release will be available on their Investor Relations website. An earnings webcast will follow at 8:00 a.m. Eastern Time, allowing stakeholders to discuss the results. The webcast replay will be accessible for one year. 1stdibs is recognized as a premier online marketplace for vintage, antique, and contemporary design goods.
1stdibs.com, a prominent marketplace for design, announced that CEO David Rosenblatt and CFO Tom Etergino will present at the Evercore ISI 2nd Annual Technology Conference. The event is scheduled for September 7, 2022, at 12:00 PM Eastern Time. A live webcast and replay will be available on the company's Investor Relations website. 1stdibs connects design enthusiasts with sellers of vintage, antique, and contemporary pieces across various categories, including furniture, art, and jewelry.
1stdibs.com reported its Q2 2022 results with net revenue of $24.6 million, a slight decrease of 0.5% year-over-year. Gross profit fell to $16.6 million, down 4%, leading to a gross margin of 67.6%. The GAAP net loss was $0.3 million, improved from $4.1 million the previous year, aided by a $9.7 million gain from the sale of Design Manager. Cash reserves were $162.7 million. Looking ahead, the company expects Q3 net revenue between $20.7 million and $21.9 million.
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