TORRANCE, Calif., April 22, 2025 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS) will hold a conference call on Tuesday, May 13, 2025 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its financial results for the first quarter ended March 29, 2025. The results will be reported in a press release prior to the call. CarParts.com, Inc. CEO David Meniane and CFO Ryan Lockwood will host the conference call live via an audio webcast, followed by a question and answer period. To access the conferenc ...

Financial Performance - For fiscal year 2024, the company reported net sales of $588,846, a decrease of 12.9% from $675,729 in fiscal year 2023[195]. - The company incurred a net loss of $40,601 in fiscal year 2024, compared to a net loss of $8,223 in fiscal year 2023[195]. - Adjusted EBITDA for fiscal year 2024 was $(7,055), a significant decline from $19,687 in fiscal year 2023[197]. - Gross profit decreased by 14.2% to $196,739 in fiscal year 2024, with gross margin dropping to 33.4% from 33.9% in fiscal year 2023[198][214]. - Operating expenses for fiscal year 2024 were $237,374, a slight decrease of 0.8% from $239,287 in fiscal year 2023, but as a percentage of net sales, it increased to 40.3%[215]. - Total other income, net decreased by $1,502, or 83.3%, for fiscal year 2024 compared to fiscal year 2023, primarily due to a decrease in interest income from a lower cash balance[216]. - Income tax provision increased by $122, or 84.1%, from $145 in fiscal year 2023 to $267 in fiscal year 2024[217]. Cash Flow and Debt Management - Cash and cash equivalents decreased by $14,554, from $50,951 as of December 30, 2023, to $36,397 as of December 28, 2024[219]. - Net cash provided by operating activities decreased from $50,001 in fiscal year 2023 to $10,338 in fiscal year 2024[222]. - Net cash used in investing activities increased from $11,901 in fiscal year 2023 to $20,557 in fiscal year 2024, primarily due to additions to property and equipment[224]. - Total debt decreased from $16,635 as of December 30, 2023, to $12,313 as of December 28, 2024[226]. - The Company maintains a revolving Credit Facility with a principal amount of up to $75,000, which can be increased to $150,000 under certain conditions[227]. - As of December 28, 2024, the Company had no outstanding balance under its revolving loan[228]. - The Company believes existing cash, cash equivalents, and available financing will be sufficient to meet operational cash needs for at least the next twelve months[235]. - The Company is subject to interest rate risk related to its Credit Facility, with a SOFR-based interest rate of 6.46% as of December 28, 2024[230]. Market Trends and Opportunities - The average age of U.S. light vehicles reached a record high of 12.6 years in 2024, indicating a growing demand for aftermarket parts[193]. - The U.S. Auto Care Association projects that online sales of auto parts and accessories will exceed $23 billion by 2026, highlighting a significant market opportunity[194]. - The company offers approximately 1,544,000 SKUs, providing a comprehensive selection for consumers compared to traditional brick-and-mortar stores[192]. Strategic Initiatives - The increase in operating expenses is attributed to investments in brand and marketing, as well as one-time costs related to the new Las Vegas distribution center[215]. - The company’s re-pricing strategy aims to focus on higher value customers, which has impacted net sales and gross profit[198].

CarParts.com, Inc. (NASDAQ:PRTS) Q4 2024 Earnings Conference Call March 25, 2025 5:00 PM ET Company Participants Tina Mirfarsi - Senior Vice President of Global Communications and Brand David Meniane - Chief Executive Officer Ryan Lockwood - Chief Financial Officer Operator Good afternoon. At this time, all participants will be in a listen-only mode. Please note this call is being recorded. I would now like to pass the conference over to our host, Tina Mirfarsi, Senior Vice President of Global Communication ...

CarParts.com Reports Fiscal Year 2024 Results TORRANCE, Calif. – March 25th, 2025 – CarParts.com, Inc. (NASDAQ: PRTS), a leading eCommerce provider of automotive parts and accessories, and a premier destination for vehicle repair and maintenance needs, is reporting results for the fourth quarter and fiscal year ended December 28, 2024. Fiscal Year 2024Summary vs. Fiscal Year 2023 Fourth Quarter 2024Summary vs.Year-Ago Quarter Management Commentary "2024 was an important year in the ongoing transformation of ...

Core Insights - CarParts.com, Inc. reported a significant decline in net sales for fiscal year 2024, totaling $588.8 million, down 13% from $675.7 million in fiscal year 2023, primarily due to soft consumer demand and pressures in specific product categories [5][9] - The company experienced a net loss of $40.6 million in fiscal year 2024, compared to a net loss of $8.2 million in fiscal year 2023, indicating a worsening financial performance [7][26] - Management emphasized a strategic focus on improving gross and net margins, enhancing operational efficiency, and achieving sustainable growth through various initiatives [3][4] Fiscal Year 2024 Financial Results - Net sales decreased to $588.8 million from $675.7 million, a decline of 13% [5][9] - Gross profit was $196.7 million, down from $229.4 million, with a gross margin of 33.4%, a decrease of 50 basis points [5][10] - Total operating expenses were $237.4 million, slightly down from $239.3 million, but operating expenses as a percentage of net sales increased to 40.3% from 35.4% [6][26] - Adjusted EBITDA for the year was ($7.1) million, a significant drop from $19.7 million in the previous year [7][9] Fourth Quarter 2024 Financial Results - Net sales for the fourth quarter were $133.5 million, down 15% from the same quarter last year [8][9] - Gross profit for the fourth quarter was $43.4 million, compared to $51.6 million, with a gross margin of 32.5% [10][9] - The net loss for the fourth quarter was ($15.4) million, compared to a net loss of ($6.1) million in the year-ago quarter [10][9] - Adjusted EBITDA for the fourth quarter was ($6.8) million, down from $1.0 million in the previous year [11][9] Strategic Initiatives and Outlook - The company is focusing on non-paid marketing initiatives, enhancing site conversion, and expanding product assortment to address economic challenges faced by lower-income consumers [4][3] - CarParts.com has launched a new website with AI-based search solutions and machine learning product recommendations, along with a paid membership program, CarParts+, which includes roadside assistance [9][10] - The company is currently evaluating various strategic alternatives and has not provided guidance for 2025 [12]

Core Insights - The event "Fix-It Day" organized by CarParts.com aimed to provide essential vehicle repairs to individuals in need, emphasizing the importance of reliable transportation in the community [2][4] - Over 38 vehicles received critical repairs, including brake replacements and battery changes, with more than 250 parts donated by CarParts.com and its partners [2][3] - The event highlighted the collaboration between businesses and nonprofits, showcasing how such partnerships can create significant community impact [4][5] Company Overview - CarParts.com is a technology-driven eCommerce company that offers over 1 million high-quality automotive parts and accessories, operating for over 25 years [5][6] - The company focuses on customer satisfaction and affordability, aiming to simplify the automotive repair process and ensure swift delivery of parts [6][7] - CarParts.com is headquartered in Torrance, California, and is committed to empowering drivers along their journey [6][7] Community Engagement - Fix-It Day provided participants with complimentary CarParts+ Memberships, which included exclusive discounts and roadside assistance [3] - Participants also received care packages with essential car maintenance items, enhancing their ability to maintain their vehicles [3] - The event received recognition from local officials, reinforcing the commitment of CarParts.com and its partners to serve the community [4]

Core Viewpoint - CarParts.com is exploring strategic alternatives, including a potential sale, after receiving inbound inquiries, with no set timeline for completion and no certainty of a strategic change [1][2] Company Performance - In the third quarter, CarParts.com reported a 13% decline in net sales year-over-year, totaling $144.8 million, alongside a net loss of $10 million [3] - The sales decrease was attributed to deliberate price increases aimed at higher value customers, gross margin expansion, and challenges in the consumer environment, as well as one-time impacts from external events [4] Strategic Initiatives - The company has invested significantly in building a vertically integrated supply chain and a nationwide fulfillment network to enhance its eCommerce experience and mobile app [3] - CarParts.com is undergoing a re-platforming process to improve performance and reduce development cycles, with expectations to capitalize on opportunities in the $400 billion auto parts market [5] User Engagement - The cumulative downloads of CarParts.com's mobile app have more than doubled to over 550,000 at the beginning of the year, indicating growing user engagement despite sales challenges [4]

Core Viewpoint - CarParts.com is exploring strategic alternatives to maximize shareholder value, including a potential sale of the company, in response to inbound inquiries [1][2] Company Overview - CarParts.com is a technology-driven eCommerce company offering over 1 million high-quality automotive parts and accessories, operating for over 25 years [3] - The company has established itself as a premier destination for drivers seeking repair and maintenance solutions, emphasizing customer satisfaction and affordability [3] - CarParts.com operates a robust fulfillment network to ensure swift delivery of parts from leading brands across the nation [3] Strategic Initiatives - The Board of Directors has engaged Craig-Hallum Capital Group LLC as its financial advisor and Wilson Sonsini Goodrich & Rosati as its legal counsel to support the exploration of strategic alternatives [1] - CEO David Meniane highlighted significant investments made over the last 5 years in building a vertically integrated supply chain and a nationwide fulfillment network [2] - The company has not set a timeline for the completion of the exploration process and does not intend to provide updates unless definitive agreements are reached [2]

TORRANCE, Calif., March 4, 2025 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS) will hold a conference call on Tuesday, March 25, 2025 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its financial results for the fourth quarter and fiscal year ended December 28, 2024. The results will be reported in a press release prior to the call.CarParts.com, Inc. CEO David Meniane, CFO Ryan Lockwood, and COO Michael Huffaker will host the conference call live via an audio webcast, followed by a question ...

CarParts.com, Safe Parking LA & Partners Unite to Provide Critical Auto Repairs For Individuals and Families Facing Hard TimesTORRANCE, Calif., Feb. 26, 2025 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS), a leading eCommerce destination for automotive parts and accessories, is launching Fix-It Day 2025, a community-driven initiative providing free car repairs to struggling individuals and families. In partnership with Safe Parking LA, Petersen Automotive Museum, and a coalition of businesses and volunte ...