Why LightInTheBox (LITB) Shares Are Gaining Today - LightInTheBox Holding (NYSE:LITB)

LightInTheBox Holding Co Ltd LITB reported third-quarter FY22 sales growth of 22.6% year-on-year to $121 million, beating the consensus of $78.49 million.
Sales from apparel increased by 60.8% to $99.6 million, and revenues from apparel represented 82.3% of total revenues in Q3.
The gross margin for the quarter jumped 1,340 basis points to 57.9%.
The operating expenses for the quarter 39.6% to $70.5 million.
Loss from operations was $(0.5) million versus a loss of $(6.6) million last year.
The company held $57 million in cash and equivalents as of September 30, 2022.
Adjusted EBITDA for the quarter was $0.4 million versus an EBITDA loss of $(5.1) million a year ago.
Earnings per ADS was $0.00 compared to a $(0.05) loss the prior year.
"We will continue to consolidate our strengths in supply chain management, optimize operational efficiency and customer experience to navigate through uncertainties and deliver long-term growth," said CEO Jian He.
Price Action: LITB shares are trading higher by 10.83% at $1.33 on the last check Friday.

LightInTheBox Stock Gains As Q3 Revenue Breezes Past Expectations