secwatch.observer — SEC 8-K summary
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Issuer:     1stdibs.com, Inc. (DIBS)
CIK:        0001600641
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001600641-23-000160
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1600641/000160064123000160/0001600641-23-000160-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1600641/000160064123000160/q1-20230804.htm
  HTML page:      https://secwatch.observer/filing/0001600641-23-000160

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer