[a.k.a. Brands Holding Corp. First Quarter 2024 Financial Results](index=1&type=section&id=a.k.a.%20Brands%20Holding%20Corp.%20First%20Quarter%202024%20Financial%20Results) [Performance Overview](index=1&type=section&id=Performance%20Overview) In Q1 2024, the company exceeded guidance despite a 3.0% decline in total net sales, driven by U.S. growth and balance sheet improvements Q1 2024 Key Financial Metrics | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $116.8M | $120.5M | -3.0% | | U.S. Net Sales | - | - | +6.2% | | Net Loss | $(8.9)M | $(9.6)M | N/A | | Net Loss per Share | $(0.85) | $(0.89) | N/A | | Adjusted EBITDA | $0.9M | $2.2M | -59.1% | - The company successfully grew its active customer base by **5.5%** on a trailing twelve-month basis compared to Q1 2023[3](index=3&type=chunk)[6](index=6&type=chunk) - Significant balance sheet improvements were made year-over-year, with a **19% reduction in inventory** and a **22% reduction in debt**[3](index=3&type=chunk) - Management highlighted strong execution of strategic priorities, including customer acquisition and retention, omnichannel presence, and operational streamlining[6](index=6&type=chunk)[8](index=8&type=chunk) [Brand Highlights](index=1&type=section&id=Brand%20Highlights) Key brands executed strategic initiatives, including physical store expansion, new marketplace launches, and strong U.S. sales growth - Princess Polly is expanding its physical retail footprint with **three new stores planned for Q3 2024** in Scottsdale, Boston, and San Diego[12](index=12&type=chunk) - Petal & Pup expanded its omnichannel strategy by launching on Nordstrom's website, building on previous successes with Macy's and Target[12](index=12&type=chunk) - Culture Kings U.S. delivered another quarter of **strong double-digit net sales growth**, driven by its first-party brands which made up over 50% of its U.S. sales[12](index=12&type=chunk) [Financial Performance Analysis](index=2&type=section&id=Financial%20Performance%20Analysis) The company experienced mixed financial results with declining net sales and gross margin, offset by reduced administrative expenses [First Quarter Financial Details](index=2&type=section&id=First%20Quarter%20Financial%20Details) Net sales decreased 3.0% and gross margin contracted slightly, while G&A expenses improved as a percentage of sales Q1 2024 vs Q1 2023 Operating Results | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Sales | $116.8M | $120.5M | | Gross Margin | 56.2% | 56.9% | | Selling Expenses (% of sales) | 29.3% | 28.6% | | Marketing Expenses (% of sales) | 12.7% | 12.3% | | G&A Expenses (% of sales) | 19.4% | 21.5% | | Adjusted EBITDA | $0.9M | $2.2M | - The decrease in net sales was driven by a decline in average order value, primarily due to adverse macroeconomic conditions in Australia and New Zealand[18](index=18&type=chunk) - G&A expenses decreased primarily due to reductions in sales tax penalties and interest, professional fees, intangible amortization, and insurance costs[18](index=18&type=chunk) [Balance Sheet and Cash Flow](index=2&type=section&id=Balance%20Sheet%20and%20Cash%20Flow) The company strengthened its balance sheet by reducing inventory and debt, though cash flow from operations saw increased usage Balance Sheet and Cash Flow Highlights (as of March 31, 2024) | Metric | Q1 2024 | Q1 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | $21.9M | $30.2M | -27.5% | | Inventory | $91.5M | $112.5M | -18.7% | | Total Debt | $103.6M | $132.4M | -21.8% | | Cash flow used in operations | $(7.7)M | $(3.0)M | +156.7% | [Outlook](index=2&type=section&id=Outlook) The company provides guidance for Q2 and the full fiscal year 2024, anticipating net sales of $545 million to $555 million for the year Q2 2024 Outlook | Metric | Guidance Range | | :--- | :--- | | Net Sales | $133M - $138M | | Adjusted EBITDA | $4.5M - $5.5M | | Weighted Avg. Diluted Shares | 10.5M | Full Year 2024 Outlook | Metric | Guidance Range | | :--- | :--- | | Net Sales | $545M - $555M | | Adjusted EBITDA | $17M - $19M | | Weighted Avg. Diluted Shares | 10.6M | - The outlook assumes continued macroeconomic pressures, particularly in Australia and New Zealand, and the opening of three to four Princess Polly stores[16](index=16&type=chunk) [Key Financial and Operating Metrics](index=9&type=section&id=Key%20Financial%20and%20Operating%20Metrics) Active customers grew 5.5%, but average order value declined, with U.S. sales growth contrasting a sharp decline in Australia/New Zealand Key Operational Metrics (Q1 2024 vs Q1 2023) | Metric | Q1 2024 | Q1 2023 | % Change | | :--- | :--- | :--- | :--- | | Active customers (millions) | 3.83 | 3.63 | 5.5% | | Average order value | $77 | $80 | (3.8)% | | Number of orders (millions) | 1.52 | 1.50 | 1.3% | Sales by Region (Q1 2024 vs Q1 2023) | Region | Q1 2024 Sales | Q1 2023 Sales | % Change | | :--- | :--- | :--- | :--- | | U.S. | $77.1M | $72.6M | 6.2% | | Australia/New Zealand | $33.5M | $41.4M | (19.1)% | | Rest of world | $6.2M | $6.4M | (3.5)% | | **Total** | **$116.8M** | **$120.5M** | **(3.0)%** | [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) This section presents the unaudited condensed consolidated statements of income, balance sheets, and cash flows for Q1 2024 [Condensed Consolidated Statements of Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) The company reported a net loss of $8.9 million on net sales of $116.8 million for the first quarter of 2024 Q1 2024 Income Statement Summary (in thousands) | Line Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net sales | $116,840 | $120,485 | | Gross profit | $65,674 | $68,500 | | Loss from operations | $(6,093) | $(6,551) | | Net loss | $(8,933) | $(9,553) | | Net loss per share | $(0.85) | $(0.89) | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, the company held total assets of $355.8 million and total liabilities of $220.2 million Balance Sheet Summary (in thousands) | Line Item | March 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $21,939 | $21,859 | | Inventory | $91,489 | $91,024 | | Total assets | $355,754 | $361,721 | | Total liabilities | $220,244 | $213,103 | | Total stockholders' equity | $135,510 | $148,618 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was $7.7 million, while financing activities provided $8.9 million in cash Cash Flow Summary (in thousands) | Line Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(7,687) | $(2,960) | | Net cash used in investing activities | $(755) | $(1,880) | | Net cash (used in) provided by financing activities | $8,899 | $(11,443) | | Net decrease in cash | $(133) | $(16,129) | [Reconciliation of Non-GAAP Financial Measures](index=10&type=section&id=Reconciliation%20of%20Non-GAAP%20Financial%20Measures) This section reconciles the Q1 2024 GAAP net loss of $8.9 million to the non-GAAP Adjusted EBITDA of $0.9 million Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Line Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Net loss** | **$ (8,933)** | **$ (9,553)** | | Total other expense, net | 2,821 | 3,885 | | Provision for (benefit from) income tax | 19 | (883) | | Depreciation and amortization expense | 4,298 | 5,440 | | Equity-based compensation expense | 1,956 | 1,936 | | Non-routine items | 713 | 1,361 | | **Adjusted EBITDA** | **$ 874** | **$ 2,186** |

LAS VEGAS--(BUSINESS WIRE)--Culture Kings, a premier international streetwear brand and retail destination, proudly announces its return as an official partner of Rolling Loud California, taking place in Inglewood, CA from March 14th to March 17th, 2024. This marks the second consecutive year of the global partnership between Culture Kings and Rolling Loud, the World’s Largest Hip-Hop Festival, further solidifying the brand’s commitment to music, fashion, and culture. As part of this exciting collaborati ...

a.k.a Brands Holding Corp. (NYSE:AKA) Q4 2023 Earnings Conference Call March 7, 2024 4:15 PM ET Company Participants Ciaran Long - Interim Chief Executive Officer & Chief Financial Officer Emily Schwartz - Head, Investor Relations & Corporate Communications Conference Call Participants Youssef Squali - Truist Securities Ashley Owens - KeyBanc Capital Markets Operator Greetings, and welcome to the a.k.a Brands Fourth Quarter and Fiscal 2023 Earnings Conference Call. At this time all participants are in a lis ...

A.k.a. Brands (AKA) came out with a quarterly loss of $1.31 per share versus the Zacks Consensus Estimate of a loss of $0.46. This compares to loss of $0.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -184.78%. A quarter ago, it was expected that this portfolio of online fashion brands would post a loss of $0.12 per share when it actually produced a loss of $0.18, delivering a surprise of -50%.Over the last four quarters, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________ FORM 10-K __________________________________________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

Exhibit 99.1 a.k.a. Brands Holding Corp. Reports Fourth Quarter and Full Year 2023 Financial Results U.S. Net Sales Grew ~12% Compared to the Fourth Quarter of 2022 Strengthened Balance Sheet Through $50.7 Million Debt Paydown in FY23 Scaling Omnichannel Strategy through Additional Stores, Marketplace and Wholesale Opportunities in 2024 SAN FRANCISCO – March 7, 2024 – a.k.a. Brands Holding Corp. (NYSE: AKA), a brand accelerator of next generation fashion brands, today announced financial results for the fou ...

SAN FRANCISCO--(BUSINESS WIRE)--a.k.a. Brands Holding Corp. (NYSE: AKA) (the “Company”), a brand accelerator of next generation fashion brands, today announced that it will report its fourth quarter and fiscal 2023 financial results after the market close on Thursday, March 7, 2024. The company will webcast a call with management that day at 4:15 p.m. Eastern Time (1:15 p.m. Pacific Time). a.k.a. Brands’ webcast will be available via the company website at ir.aka-brands.com. Analysts and investors may also ...

a.k.a. Brands Holding Corp. (NYSE:AKA) Q3 2023 Earnings Conference Call November 8, 2023 4:30 PM ET Company Participants Ciaran Long - Interim Chief Executive Officer & Chief Financial Officer Emily Schwartz - Head, Investor Relations & Corporate Communications Conference Call Participants Edward Yruma - Piper Sandler Dana Telsey - Telsey Advisory Group Ashley Owens - KeyBanc Operator Greetings and welcome to the a.k.a. Brands Holding Corp. Third Quarter 2023 Earnings Conference Call. At this time, all part ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR FORM 10-Q __________________________________________________________________________________________________ ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES E ...

a.k.a. Brands Holding Corp. (NYSE:AKA) Q2 2023 Earnings Conference Call August 9, 2023 4:30 PM ET Company Participants Emily Schwartz - Head, Investor Relations & Corporate Communications Ciaran Long - Interim Chief Executive Officer & Chief Financial Officer Conference Call Participants Oliver Chen - TD Cowen Edward Yruma - Piper Sandler Alice Xiao - Bank of America Ike Boruchow - Wells Fargo Operator Greetings and welcome to a.k.a. Brands Holding Corp. Second Quarter 2023 Earnings Conference Call. At this ...