1stdibs.com, Inc. - DIBS STOCK NEWS

Performant Capital has successfully acquired Design Manager from 1stDibs (Nasdaq: DIBS) as of June 29, 2022. The acquisition enhances Performant Capital's portfolio in the technology-driven sector, specifically targeting the interior design software market. Design Manager has served top design firms for over 40 years, managing projects worth $2 billion annually. Performant Capital aims to invest significantly in Design Manager to improve product offerings further. This strategic move is expected to bolster growth and profitability in the interior design industry.

1stdibs.com, a prominent online marketplace for luxury design products, announced that CEO David Rosenblatt and CFO Tom Etergino will present at the William Blair 42nd Annual Growth Stock Conference on June 6th at 1:40pm ET. A live webcast and replay will be available on the company's Investor Relations website. 1stdibs specializes in connecting design enthusiasts with sellers of vintage, antique, and contemporary items, including furniture, art, jewelry, and fashion.

1stdibs.com reported a 3% increase in Gross Merchandise Value (GMV) to $117 million and a 4% rise in net revenue to $26.6 million for Q1 2022. However, GAAP net loss widened to $6.4 million from $2.2 million a year earlier. Gross profit grew 2% to $18.9 million, while gross margin dropped to 71.1%. Active buyers increased by 10% to approximately 71K, but the number of orders fell 6% to around 39K. The company forecasts Q2 GMV between $104 million and $111 million.

1stDibs has expanded its European presence by launching a localized site for France, allowing local buyers to browse and receive support in their native language. Following a similar launch in Germany, this initiative is part of 1stDibs' strategy to enhance the shopping experience in non-English speaking markets. In 2021, 40% of 1stDibs sellers came from outside the U.S., with significant traffic from Western Europe. The marketplace offers over $14 billion worth of unique items across various categories, with an emphasis on quality from vetted sellers.

1stDibs has launched a localized website for Germany, enhancing its European operations, with plans for a French site coming soon. The platform connects users to a diverse selection of over 4,700 vetted sellers, featuring unique items valued at over $14 billion. Approximately 40% of sellers and a third of traffic originate outside the U.S., focusing on Western Europe. This initiative aims to provide a tailored user experience in local languages and currencies, facilitating stronger connections between buyers and local sellers.

1stdibs.com, Inc. (Nasdaq: DIBS) is set to release its Q1 2022 financial results on May 11, 2022, post-market. A press release will be available on the company's Investor Relations website. Following the release, 1stdibs will host an earnings webcast at 5:00 p.m. ET on the same day to discuss the results. A replay will be accessible for one year. 1stdibs is a prominent online marketplace specializing in luxury design products, connecting buyers with sellers of vintage and contemporary goods.

1stDibs has announced an expansion of its NFT marketplace, enhancing the user experience for digital creators and collectors. The platform will now enable vetted creators to autonomously upload, mint, and sell NFTs, while also introducing a secondary market for previously purchased NFTs. This launch is part of ongoing efforts to meet the rising demand for digital art. Upcoming exhibitions include IDentity: (Self)-made by women on March 23, 2022, and Bloom on April 27, 2022, showcasing works from ten female artists and Ignasi Monreal, respectively.

1stDibs Appoints Thomas Etergino as CFO

1stDibs (NASDAQ: DIBS) has announced the appointment of Thomas Etergino as Chief Financial Officer, succeeding Tu Nguyen. Etergino brings over 30 years of financial leadership experience, having held CFO positions at Vesta Healthcare and AtriCure, among others. He will oversee finance, accounting, and analytics functions. Etergino expressed enthusiasm for joining 1stDibs, citing the company's asset-light model and growth potential, including plans for international expansion and auctions.

1stdibs.com reported strong Q4 and full-year 2021 financial results. Q4 net revenue surged 13% year-over-year to $26.9 million, while gross merchandise value (GMV) rose 11% to $117 million. However, gross profit dropped 3% to $16.6 million, resulting in a lower gross margin of 61.7%. The company recorded a GAAP net loss of $8.1 million, significantly up from $1.6 million. For 2021, total net revenue reached $102.7 million (+25%), with an adjusted EBITDA margin of (16.1%).