Lightinthebox Q2 Revenue Tops Estimates

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  • Lightinthebox Holding Co Ltd LITB reported second-quarter FY22 sales growth of 8.3% year-on-year, to $132.40 million, beating the analyst consensus estimate of $78.49 million.
  • Product sales increased 8.8% to $129.8 million, while services fell 13.3% to $2.5 million.
  • The gross margin for the quarter expanded 850 basis points to 55.3%, and the gross profit rose 28.2% to $73.2 million.
  • The operating expense increased 24.8% Y/Y to $75.6 million.
  • The operating loss for the quarter was $(2.5) million against a loss of $(3.5) million last year.
  • The company held $65.7 million in cash and equivalents as of June 30, 2022.
  • Adjusted EBITDA for the quarter was $(1.5) million versus $14.5 million last year.
  • Loss per American Depositary Share (ADS) was $(0.02) versus an income per ADS of $0.08 last year.
  • "We have seen definite improvements in our supply chain and logistics, and we are confident of maintaining revenue growth momentum in the second half of 2022," said CEO Jian He.
  • Price action: LITB shares traded higher by 4.04% at $1.03 premarket on the last check Tuesday.
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