a.k.a. Brands Q1 beats expectations, raises full-year outlook; net sales down 18.8%

A.K.A. BRANDS HOLDING CORP.

2023-Q1 EPS reported -$0.07 revenue$120,485,000

Net sales $120.5M (-18.8% YoY); net loss $(9.6)M ($0.07/sh) vs net income $1.5M in Q1 2022.
Adjusted EBITDA $2.2M (1.8% of sales) vs $10.7M (7.2%) in prior year.
Inventory down 7% YoY and 11% since FY2022 end; company reduced debt in quarter.
Company raises full-year outlook; omnichannel initiatives (Princess Polly store in Q3, Petal & Pup on Target).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

A.K.A. BRANDS HOLDING CORP. reported first quarter ended March 31, 2023 results: revenue $120.5 million, net income $(9.6) million, EPS $(0.07) per share. Guidance raised.

Period: first quarter ended March 31, 2023
Revenue: $120.5 million
Net income: $(9.6) million
EPS: $(0.07) per share
Guidance: raised
Result: reported results

Exact text from the filing

of next generation fashion brands , today announced financial results for the first quarter ended March 31, 2023. Results for the First Quarter • Net sal es decreased 18.8% to $120.5 million, compared to $148.3 million in the first quarter of 2022; down 16% in Constant Currency 1 . • Net loss was $(9.6) million or $(0.07) per share, and (7.9%) of net sales in the

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Source: SEC EDGAR

accession 0001865107-23-000026

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