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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) reported significant growth in the Original Equipment (OE) parts segment, achieving 350% growth in H1 2021 compared to H1 2020. The company has onboarded nearly 34 major manufacturer brands and now lists approximately two million OE SKUs on its platform. OE parts constitute a crucial segment, claiming a 72.9% market share in 2020. Management expresses confidence in establishing a comprehensive automotive parts store while enhancing customer service and fulfillment capabilities.
PARTS iD, a digital commerce leader in the automotive aftermarket, reported second quarter 2021 results with a 14.5% increase in net revenue to $130.4 million compared to the same period in 2020. However, operating income decreased to $0.8 million from $3.0 million, and net income fell to $0.6 million from $2.3 million. The gross margin also declined to 20.0% from 21.3%. For the first half of 2021, net revenue rose 29.7% to $239.5 million, yet the company reported a net loss of $18,701 compared to net income in the previous year.
PARTS iD, Inc. (NYSE American: ID) announces CEO Nino Ciappina and CFO Kailas Agrawal will participate in the Canaccord Genuity 41st Annual Growth Conference from August 10-12, 2021. Their presentation is set for August 12 at 3:30 pm ET and will be broadcast online. PARTS iD is recognized for its advanced digital commerce platform, CARiD.com, focused on the automotive aftermarket. Since its inception in 2008, the company has aimed to revolutionize the online shopping experience with diverse product offerings and continuous innovation.
PARTS iD, Inc. (NYSE American: ID) will announce its second-quarter financial results for the period ending June 30, 2021, after market close on August 9, 2021. A conference call with management will follow at 4:30 p.m. ET on the same day to discuss the results. Interested investors can join the call by dialing (877) 407-9129 domestically or (201) 493-6753 internationally, and access the call via a live webcast on the company's website. A replay will be available until August 23, 2021.
PARTS iD, a digital commerce leader in the automotive aftermarket, aims to enhance eCommerce experiences.
PARTS iD, Inc. (NYSE American: ID) will participate in the Wells Fargo 2021 Virtual ‘Bricks to Clicks’ Digital Conference on June 23-24, 2021. CEO Nino Ciappina and CFO Kailas Agrawal are set to present on June 24 at 10:40 am ET, with the session available for online streaming. Founded in 2008, PARTS iD specializes in digital commerce within the automotive aftermarket, aiming to enhance user experiences and product offerings.
PARTS iD. Inc. (NYSE American: ID) announced it will ring The Closing Bell at the New York Stock Exchange on June 15, 2021, celebrating its public company status achieved last year. CEO Nino Ciappina highlighted the company's decade-long growth in the $400+ billion automotive aftermarket through a technology-driven approach. This event honors the contributions of employees, partners, and investors, positioning PARTS iD for future growth in automotive and complex parts markets.
PARTS iD (NYSE American: ID) announced CEO Nino Ciappina and CFO Kailas Agrawal will participate in two virtual conferences. The RBC Capital Markets Global Consumer and Retail Conference is set for June 2, 2021, at 3:20 p.m. ET. The Stifel 2021 Virtual Cross Sector Insight Conference will follow on June 9, 2021, at 8:00 a.m. ET. Live webcasts of both presentations will be available on the company's website.
Founded in 2008, PARTS iD specializes in digital commerce for the automotive aftermarket, focusing on delivering a unique shopping experience.
PARTS iD reported a significant first quarter for 2021, with net revenue jumping 54.2% to $109.1 million, compared to $70.7 million in Q1 2020. The conversion rate rose 41.6%, contributing to a 52.9% increase in orders. Gross profit also climbed 50.5% to $22.8 million, while net loss decreased 23.7% to $(0.6) million. Operating expenses as a percentage of revenue improved to 21.7%. Cash reserves increased to $37.4 million versus $22.2 million at year-end 2020, highlighting solid cash flow generation.
PARTS iD (NYSE American: ID) has announced plans to release its financial results for the first quarter ending March 31, 2021, after market close on May 10, 2021. A conference call will take place that afternoon at 4:30 p.m. ET to discuss these results. Investors can participate by dialing (877) 407-9129 for domestic calls or (201) 493-6753 for international calls. A live webcast will also be available at www.partsidinc.com. A telephone replay of the call will be accessible until May 24, 2021.
PARTS iD (NYSE American: ID) has launched an end-to-end service for its wheels & tires category on CARiD.com, enabling customers to purchase tires and book installation appointments at nearby locations. Currently, the service includes 1,579 active tire installation sites nationwide, with plans to expand to over 9,000 by year-end, and an additional 3,000 locations in 2022. CEO Nino Ciappina emphasized the initiative's goal to bolster the company’s presence in the automotive aftermarket, enhancing CARiD.com’s position as a comprehensive solution for car enthusiasts.
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