1stdibs.com, Inc. - DIBS STOCK NEWS

1stdibs.com, Inc. (NASDAQ: DIBS) reported strong Q3 2021 results with a 25% increase in Gross Merchandise Value (GMV) to $109 million and a 22% rise in net revenue, totaling $25.6 million. Gross profit increased 23% to $18.1 million, yielding a gross margin of 70.6%.

However, the company faced a GAAP net loss of $6.6 million, worsening from a $1.4 million loss in Q3 2020. Despite this, cash reserves stood at $167.1 million. The outlook for Q4 anticipates GMV between $117 million and $121 million.

1stDibs has launched 1stDibs Auctions, allowing customers to bid on unique items like furniture, art, and jewelry, enhancing their shopping experience. CEO David Rosenblatt highlighted the importance of offering both auction and fixed-price models to cater to varied customer preferences. Guest curators Jonathan Adler and Simon Doonan added a selection of over 75 items showcasing their modern glamour aesthetic. The auction platform features thousands of products, no buyer's premium, and comprehensive buyer protection, aiming to attract design enthusiasts worldwide.

1stdibs.com, Inc. (Nasdaq: DIBS) will announce its third quarter 2021 financial results on November 10, 2021, after market close. A press release will be available on the Investor Relations website. The company will host an earnings webcast at 5:00 p.m. ET on the same day to discuss the results, with a replay accessible for one year. 1stdibs is a premier online marketplace focused on luxury design products, connecting design enthusiasts with vintage, antique, and contemporary sellers.

1stdibs.com, a top online marketplace for luxury design products, announced that CEO David Rosenblatt and CFO Tu Nguyen will present at the Raymond James 2021 Consumer Conference on September 14th, 2021, at 1:40 PM ET. A live webcast and replay will be available on their Investor Relations website.

1stdibs connects design enthusiasts with sellers of vintage, antique, and contemporary furniture, home décor, art, jewelry, and more, and aims to enhance the luxury shopping experience for its customers.

1stdibs.com reported Q2 2021 financial results, with Gross Merchandise Value (GMV) reaching $107 million, a 34% year-over-year increase. Net revenue rose 29% to $24.7 million, while Gross profit was $17.4 million, up 33%, yielding a 70.4% gross margin.

However, the company reported a GAAP net loss of $4.1 million. Cash and equivalents stood at $176.1 million as of June 30, 2021. The company plans to focus on strategic growth initiatives and has provided Q3 guidance of $100 million - $104 million GMV and $23.6 million - $24.3 million net revenue.

1stDibs has launched an NFT platform, marking its entry into the growing digital art market. The platform adopts an auction model and will host semi-monthly exhibitions, starting with the exhibition titled “Portals,” curated by international artist Metageist. This initiative reflects the company’s ongoing evolution from a listing site to a comprehensive e-commerce platform. The initial offerings will feature highly curated NFTs from renowned creators, and a unique blockchain approach enhances the buying process. Upcoming exhibitions are scheduled for September, with works from various artists.

1stdibs.com, Inc. (Nasdaq: DIBS) is set to release its Q2 2021 financial results on August 11, 2021, after market close. Investors can access the press release via the 1stdibs Investor Relations website. The company will hold an earnings webcast at 5:30 p.m. ET on the same day to discuss these results, with a replay available for one year. As a premier online marketplace, 1stdibs connects design enthusiasts with sellers of vintage, antique, and contemporary luxury items.

1stdibs.com, Inc. (Nasdaq: DIBS) successfully closed its initial public offering (IPO) of 6,612,500 shares at $20.00 per share, including an additional 862,500 shares purchased by underwriters. Trading commenced on June 10, 2021. The net proceeds from this IPO total around $117.5 million after deducting underwriting fees and expenses. BofA Securities and Barclays served as lead managers for the offering, which is aimed at connecting design enthusiasts with sellers of luxury and vintage design products.

1stdibs.com has priced its initial public offering at $20.00 per share, totaling 5,750,000 shares, aiming to raise $115 million before expenses. Trading on The Nasdaq under the ticker symbol DIBS is set to commence on June 10, 2021, with the offering closing date expected on June 14, 2021. Additionally, underwriters have a 30-day option to purchase up to 862,500 more shares. BofA Securities and Barclays lead the underwriting team. The offering's registration statement was declared effective by the SEC on June 9, 2021.