Kaspien Holdings Reports Mixed Q2 Results, Revenue Misses Consensus

  • Kaspien Holdings Inc KSPN reported a second-quarter FY21 net revenue decline of 17.5% year-on-year, to $34.89 million, missing the analyst consensus of $39.33 million.
  • Gross merchandise value (GMV) increased 50 basis points to $59.0 million, and the subscription GMV increased 33% to $24.9 million.
  • Gross profit decreased 17% Y/Y to $8.8 million, and the margin was flat at 25.3%.
  • The company's operating loss widened to $(1.4) million.
  • EPS of $0.03 beat the analyst consensus of $(0.47).
  • Kaspien held $2.6 million in cash and equivalents as of July 31, 2021.
  • Price Action: KSPN shares closed higher by 2.64% at $20.25 on Tuesday.
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