1stDibs Q2 revenue down 15% YoY to $20.9M; net loss $8.3M; authorizes $20M buyback

1stdibs.com, Inc.

2023-Q2 EPS reported -$0.42 revenue$43,099,000

Net revenue $20.9M, down 15% YoY; GAAP net loss $8.3M vs $0.3M loss in Q2 2022 (which included $9.7M gain on sale of Design Manager).
Adjusted EBITDA negative $4.6M, margin (21.9)% vs (24.7)% prior year; GMV $89.9M, down 14% YoY.
Q3 2023 guidance: GMV $85-92M, net revenue $20.1-21.3M, Adjusted EBITDA margin (17%)-(12%).
Board authorized $20M stock repurchase program; June workforce reduction of ~20% resulted in $2M restructuring charges.
Active Buyers ~65K (-6% YoY); Orders ~32K (-9% YoY); cash and short-term investments $145.9M.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

1stdibs.com, Inc. reported second fiscal quarter ended June 30, 2023 results: revenue $20.9 million, net income $8.3 million. Guidance initiated.

Period: second fiscal quarter ended June 30, 2023
Revenue: $20.9 million
Net income: $8.3 million
Guidance: initiated
Result: reported results

Exact text from the filing

products ("1stDibs" or the "Company") , today reported financial results for its second quarter ended June 30, 2023. Second Quarter 2023 Financial Highlights • Net revenue was $20.9 million, a decrease of 15% year-over-year. • Gross profit was $14.6 million, a decrease of 12% year-over-year. • Gross margin was 69.8%, compared to 67.6% in the second quarter 2022. •

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Source: SEC EDGAR

accession 0001600641-23-000160

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