iMedia Brands' Q4 Earnings Top Estimates; Reaffirms FY22 Outlook

  • iMedia Brands Inc IMBI reported fourth-quarter FY21 sales growth of 55% year-on-year, to $193.8 million, beating the consensus of $186.63 million.
  • Total 12-month rolling active customers grew by 55.3% Y/Y, driven by the continued strong customer growth from ShopHQ, Christopher & Banks, and the addition of the 123tv customer file.
  • The gross margin expanded 270 basis points Y/Y to 38.3%. It recorded an operating loss of $(0.3) million for the quarter against $(1.4) million in Q4 FY20.
  • Adjusted EBITDA of $15.1 million increased 79.9% Y/Y.
  • Loss per share of $(0.23) beat the consensus of $(0.25).
  • "Our demonstrated abilities to capitalize on the convergence of entertainment, advertising, and e-commerce continue to accelerate our growth opportunities," said CEO Tim Peterman.
  • The company held $13.2 million in cash and equivalents as of January 29, 2022.
  • Outlook: iMedia reaffirms FY22 sales outlook of $675 million - $725 million versus the consensus of $690.4 million.
  • It expects FY22 adjusted EBITDA of about $50 million - $60 million. The company anticipates reporting positive quarterly EPS beginning in the back half of 2022.
  • For Q1, the company sees sales growth of 38% to $156 million (consensus $155.93 million) and adjusted EBITDA of about $9 million.
  • Price Action: IMBI shares closed higher by 0.76% at $6.60 on Monday.

Posted In: BriefsEarningsNewsGuidanceGeneral

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