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LightInTheBox Holding Co., Ltd. (NYSE: LITB) is a global online retail company that delivers a broad range of products directly to consumers worldwide. Founded in 2007, LightInTheBox has streamlined online shopping through its websites www.lightinthebox.com, www.miniinthebox.com, and others, available in multiple major languages. The company offers items across three main categories: apparel, small accessories and gadgets, and home and garden products.
LightInTheBox's innovative data-driven business model enables it to deliver customized products, such as wedding and evening dresses, at scale. This model optimizes marketing, merchandising, and fulfillment processes, ensuring a seamless shopping experience. The company leverages its global supply chain and logistics networks, along with in-house R&D and design capabilities, to offer a wide selection of aesthetically pleasing apparel, particularly catering to middle-aged and senior customers.
Recent developments include the authorization of a share repurchase program by its board of directors on June 27, 2023. This program allows the company to repurchase up to $10 million of its ordinary shares in the form of American Depositary Shares by December 31, 2023. Financial highlights for the second quarter of 2023 showcased a record revenue of $191.8 million, driven by a 50% increase in apparel sales.
Despite macroeconomic challenges, the company continues to see growth in revenue and profitability, as evidenced by its robust financial performance in the third quarter of 2023, with total revenues increasing by 27.5% year-over-year to $154.3 million. The company remains focused on enhancing operational efficiency and profitability.
LightInTheBox has a presence in over 140 countries and regions, supported by multiple offices in Singapore, California, Shanghai, and Beijing. The company also takes forward-looking statements seriously, aligning its strategic goals with evolving market conditions.
LightInTheBox (LITB) reported strong financial performance for Q1 2021, with total revenues reaching $112.0 million, a 117.5% increase year-over-year. Net income rose to $1.4 million, up 87.2%, and adjusted EBITDA improved to $2.3 million, a 59.4% increase. The gross margin remained stable at 46.6%. However, cash reserves decreased to $60.1 million as of March 31, 2021, down from $65.5 million at year-end 2020. For Q2 2021, LITB anticipates revenues between $130 million and $145 million, reflecting growth despite excluding PPE sales.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) announced a rescheduling of its earnings release and conference call to June 1, 2021, for its first-quarter financial results ending March 31, 2021. The call will occur at 8:00 a.m. Eastern Time and will be available via preregistration only due to COVID-19 restrictions. Participants can register online to receive dial-in information. A telephone replay of the conference call will be accessible until June 8, 2021. More information is available on the Company’s Investor Relations website.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) will release its unaudited financial results for Q1 2021 on May 31, 2021, before U.S. markets open. Management will hold a conference call at 8:00 a.m. Eastern Time the same day to discuss the results. Due to COVID-19, participants must preregister online for dial-in details. A replay of the call will be available starting two hours after it ends until June 7, 2021. LightInTheBox offers products through a cross-border e-commerce platform serving over 140 countries.
LightInTheBox Holding Co., Ltd. (LITB) has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2020, with the U.S. Securities and Exchange Commission. This annual report is accessible on both LightInTheBox's investor relations website and the SEC's site. Shareholders can request a hard copy of the audited financial statements for free. LightInTheBox provides a cross-border e-commerce platform, offering a wide selection of products to consumers globally through various websites and mobile applications in multiple languages.
LightInTheBox (LITB) reported a strong performance for Q4 and the full year of 2020. Q4 revenues surged by 77.7% year-over-year to $132.7 million. Full-year revenues increased by 63.4% to $398.2 million, a record high. Gross margin improved to 44.9% in Q4 from 40.4%, and net income rose to $13.3 million for the year, compared to $1.1 million in 2019. However, net loss of $3.2 million was reported in Q4 2020. The company anticipates Q1 2021 revenues between $110 million and $125 million, representing a growth of 114% to 143% compared to Q1 2020.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) will release its unaudited financial results for Q4 and full year 2020 on March 19, 2021, prior to the U.S. market opening. A conference call to discuss the results is scheduled for 8:00 a.m. ET on the same day. Due to COVID-19, participants must preregister online to receive dial-in details. The company operates a cross-border e-commerce platform delivering products globally. A telephone replay will be available until March 26, 2021. For more information, visit their Investor Relations page.
LightInTheBox reported impressive financial results for Q3 2020, with total revenues of $100.0 million, a 67.0% increase year-over-year. Product sales drove this growth at $95.4 million. Net income fell to $7.3 million from $10.0 million in Q3 2019. Notably, adjusted EBITDA soared to $12.7 million from $0.5 million a year earlier. The company anticipates Q4 2020 revenues in the range of $120 million to $135 million, reflecting a potential increase of 61%-81% compared to Q4 2019. With cash reserves of $48.2 million, LightInTheBox is well-positioned for further growth.
LightInTheBox Holding Co. (LITB) will release its unaudited financial results for Q3 2020 on December 7, 2020, before U.S. market opens. A conference call will be held at 8:00 a.m. ET on the same day to discuss the results. Participants must preregister online to receive dial-in details. A replay of the call will be available until December 14, 2020. LightInTheBox is a cross-border e-commerce platform serving customers in over 140 countries with a diverse range of products.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) has scheduled its 2020 annual general meeting of shareholders for December 24, 2020, at 10:00 a.m. in Shanghai, China. No proposals will be made for shareholder approval; instead, the meeting will be an open forum for discussion with management. The record date for determining eligible shareholders is November 16, 2020. The company has also filed its annual report on Form 20-F with the SEC, detailing audited financial statements for the year ended December 31, 2019, accessible via its website.
LightInTheBox reported significant growth in its Q2 2020 financial results, with total revenues soaring 95.9% year-over-year to $113.9 million, driven by product sales of $107.2 million. The company achieved a net income of $8.5 million, recovering from a net loss of $7.3 million in Q2 2019. Gross margin improved to 43.5%, up from 41.9% a year prior. Adjusted EBITDA surged by 920.8% to $9.1 million. Looking ahead, LightInTheBox anticipates Q3 revenues between $95 million and $110 million, a year-over-year increase of 59% to 83%.
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