1stdibs.com sees Q3 GMV between $89.0 mln and $94.0 mln
Company expects Q3 net revenue of $22.0 mln to $22.9 mln
1stdibs.com forecasts Q3 adjusted EBITDA margin (non-GAAP) between (1%) and 2%
Overview
US luxury marketplace's preliminary Q2 revenue rose 5% yr/yr to $23.3 mln
Gross profit grew 8% yr/yr, gross margin improved to 73.9%
GAAP net loss narrowed to $1.0 mln from $4.3 mln a year ago
Result drivers
Marketplace improvements - Co said product roadmap and platform enhancements contributed to revenue and GMV growth, per CEO David Rosenblatt
Cost structure - Co said reengineered cost structure converted revenue gains into margin expansion, per CFO Tom Etergino
Analyst coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy."
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