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PARTS iD, Inc. (symbol: ID) is a technology-driven, digital commerce company that has carved a niche in various markets by merging user-centric infrastructure with a seamless online shopping experience. Initially founded as Onyx Enterprises Int’l, Corp. in 2008, the company has grown significantly over the years. It launched its flagship website, CARiD.com, which swiftly became a leading marketplace for automotive parts and accessories.
Building on the success of CARiD, PARTS iD expanded its horizon in August 2018 by introducing seven new verticals including BOATiD.com, MOTORCYCLEiD.com, and CAMPERiD.com. These marketplaces cater to specific enthusiast needs, leveraging the company's proprietary, modular digital commerce technology platform.
In November 2020, Onyx merged with Legacy Acquisition Corp., solidifying its position in the market. PARTS iD's unique technology blend allows it to deliver a tailored shopping experience across all its platforms, addressing common market challenges and meeting consumer demands efficiently.
PARTS iD's financial health and strategic partnerships continue to strengthen its market position. The company remains committed to innovation and customer satisfaction, ensuring it stays ahead in the competitive digital commerce landscape.
PARTS iD, Inc. (NYSE American: ID) will announce its Q4 and annual financial results after the market closes on March 14, 2022. A conference call is scheduled for the same day at 4:30 p.m. ET, where management will discuss these results and provide a slide presentation. Interested parties can participate via phone or a live webcast available at partsidinc.com. The call will also be archived for later access. Founded in 2008, PARTS iD specializes in eCommerce for automotive parts and accessories.
PARTS iD announces enhancements to its CARiD.com platform with over 500 vehicle-specific repair classifications. The updated Shop By Service Type feature allows customers to easily find replacement parts from a selection of 16.7 million SKUs. This functionality provides users with the ability to view essential components needed for repairs, ensuring all items fit their vehicle based on the specified year, make, and model. This innovation supports PARTS iD’s strategy to improve customer experience and is expected to capture market interest as many consumers delay new car purchases.
PARTS iD, Inc. (AMEX: ID) announced that CEO Nino Ciappina and CFO Kailas Agrawal will present at the 2022 ICR Conference on January 10, 2022, at 10:30 a.m. ET. The event will be webcast live, accessible via the company’s website. Founded in 2008, PARTS iD operates CARiD.com, a key player in the automotive aftermarket digital commerce sector, focusing on innovative shopping experiences and a broad range of product offerings.
PARTS iD, Inc. (NYSE American: ID) announced a record Net Promoter Score (NPS) of 70.0 for November, reflecting high customer satisfaction. This score follows months of consistent performance between 65-70. The increase in positive sentiment correlates with a 34.4% revenue contribution from repeat customers, up from 29.0% in Q3 2020. The company's low return rate of 5% further contrasts with the industry average of 18-20%. Investments in technology and customer service have been pivotal in these achievements.
PARTS iD, Inc. (NYSE American: ID) announced the launch of its new EV Specialty Shop on CARiD.com, targeting the growing electric vehicle market. This dedicated section features a wide range of EV parts and accessories for popular models including Tesla, Nissan Leaf, and Ford Mustang Mach-E. With over 17.5 million SKUs and a capital-efficient inventory model, PARTS iD positions itself to meet the demands of EV owners while enhancing overall customer experience. The company aims to maintain its competitive edge as the EV segment is projected to make up two-thirds of passenger vehicle sales by 2040.
PARTS iD, Inc. (AMEX: ID) has announced that CEO Nino Ciappina and CFO Kailas Agrawal will present at the Wells Fargo TMT Summit 2021 on November 30, 2021, at 10:00 AM ET. The presentation will be broadcasted online via the company’s website, highlighting their leadership in the automotive aftermarket through their digital commerce platform, CARiD.com. Founded in 2008, PARTS iD aims to innovate eCommerce experiences and has established itself as a notable brand in the automotive parts industry.
PARTS iD, Inc. (AMEX: ID) will participate in the Wells Fargo TMT Summit on November 30, 2021. CEO Nino Ciappina and CFO Kailas Agrawal will present a fireside chat at 10:30 am ET, which will also be available via live broadcast on the company's website. Established in 2008, PARTS iD focuses on digital commerce in the automotive aftermarket, aiming to provide a comprehensive online shopping experience. Management emphasizes their commitment to innovation and delivering varied product offerings for customers.
PARTS iD, Inc. (NYSE American: ID) reported a 16.7% decline in net revenue for Q3 2021, totaling $102.6 million compared to Q3 2020. This drop reflects a significant 28.9% decrease in site traffic and increased cancellations due to supply chain disruptions. Gross margin also fell to 19.8% from 22.3% year-over-year. The company recorded an operating loss of $4.2 million and a net loss of $3.3 million. Despite a 11.2% revenue increase for the first nine months, challenges remain due to rising costs and lower traffic.
PARTS iD, Inc. (NYSE American: ID) announced its upcoming financial results for the third quarter, ending September 30, 2021. The results will be released after market close on November 9, 2021, followed by a conference call at 4:30 p.m. ET on the same day. Interested investors can join the call by dialing (800) 926-6349 domestically or (303) 223-0117 internationally, and it will also be available via live webcast at www.partsidinc.com. A replay will be accessible until November 23, 2021.
PARTS iD is a technology-driven company focusing on the automotive aftermarket.
PARTS iD announces the hiring of Michael Bowers as General Manager of Boating & Marine and Terry Graham as General Manager of RV & Camper, aimed at enhancing vendor relationships and driving sales in these high-growth verticals. Bowers brings extensive experience from Brunswick Boat Group and Panasonic, while Graham has a strong retail background from Sears and Camping World. This strategic move comes amid significant growth in the boating and RV sectors, with U.S. sales reaching an estimated $47 billion in 2020.
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