Second Quarter 2024Summary vs. Year-Ago Quarter Management Commentary "Last quarter we discussed our emphasis on financial discipline and profitability by focusing on driving gross and net margins, accelerating efficiency and effectiveness to quickly deliver improved profitability; and achieving sustainable growth with strong long-term free cash flow. We are forging on a path that we expect will result in achieving sustainable and significantly positive Adjusted EBITDA next year while working towards achiev ...

Michael Huffaker, CarParts.com Chief Operating Officer, highlighted the significance of the new facility saying, "This building will serve as our West Coast flagship, housing between 80% to 90% of our product assortment. With its advanced technology, it efficiently handles both conveyable and non-conveyable items, enabling faster order fulfillment and shipping." "Our focus has always been on understanding and meeting our customers' needs, and our new Las Vegas fulfillment center is a testament to that," add ...

TORRANCE, Calif., July 18, 2024 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS), a technologydriven eCommerce company offering over 1 million high-quality automotive parts and accessories, today announced the appointment of strategic marketing leader Christina Thelin as Chief Marketing Officer (CMO). She will serve as a member of CarParts.com's leadership team, reporting directly to CEO David Meniane. Thelin will oversee product and brand marketing, performance marketing, loyalty marketing, creative, and ...

The live webcast of the event can be accessed at www.carparts.com/investor/news-events. A replay of the webcast will be archived on the Company's website at www.carparts.com/investor. At CarParts.com, our global team is united by a shared vision: Empowering Drivers Along Their Journey. SOURCE CarParts.com, Inc. Investor Relations: Ryan Lockwood [email protected] TORRANCE, Calif., July 9, 2024 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS) will hold a conference call on Tuesday, July 30, 2024 at 2:00 p.m. ...

Today, CarParts.com proudly debuts its first major campaign in over two decades. The future of DIY car care is here with CarParts.com. The brand's new campaign, "Now That's My Speed," showcases how easy it is to access over 1 million parts at your fingertips with the CarParts.com app. "Our customers have always been at the center of our business," said David Meniane, Chief Executive Officer of CarParts.com. "This campaign was developed using extensive testing to ensure our message resonates deeply with our ...

Ryan Sigdahl - Craig-Hallum Capital Group Ryan Meyers - Lake Street Capital Markets. Operator Good afternoon. At this time, all participants will be in a listen-only mode. After the presentation, there will be a question-and-answer session. Please note this call is being recorded. Tina Mirfarsi Hello, everyone and thank you for joining us for the CarParts.com first quarter conference call. Joining me today are David Meniane, Chief Executive Officer; Ryan Lockwood, Chief Financial Officer; and Michael Huffak ...

CarParts.com Reports First Quarter 2024 Results TORRANCE, Calif. – May 7th, 2024 – CarParts.com, Inc. (NASDAQ: PRTS), one of the leading eCommerce providers of automotive parts and accessories, and a one-stop shop for vehicle repair and maintenance needs, is reporting results for the first quarter ended March 30, 2024. First Quarter 2024 Summary vs. Year-Ago Quarter ● Net sales decreased to $166.3 million, down 5% from the year-ago quarter. ● Gross profit of $53.9 million vs. $62.6 million, with gross margi ...

Financial Data and Key Metrics - Q4 2023 sales were $156 million, bringing full-year 2023 sales to a record-breaking $676 million, up 2% YoY and 16% on a 2-year stack [13] - Adjusted EBITDA for Q4 was $1 million, and $19.7 million for the full year 2023, down from $26.1 million in 2022 [13][30] - Gross profit for Q4 was $51.6 million, flat YoY, while full-year gross profit was $229.4 million, down slightly from $230.9 million in 2022 [16] - GAAP net loss for Q4 was $6.1 million, compared to $6.2 million in the prior year, and full-year GAAP net loss was $8.2 million versus $1 million in 2022 [27] - The company repurchased 726,000 shares in Q4, bringing total repurchases in 2023 to 1.2 million shares [13][31] Business Line Data and Key Metrics - The mobile app now generates over 7% of total e-commerce revenue, with over 250,000 downloads [20][29] - Revenue from the friction category (brakes and rotors) increased by over 40% YoY, accounting for approximately 5% of total volume [20] - The third-party premium brands business grew over 25% YoY, now a profitable $100 million revenue business [21] - Website traffic reached over 100 million visits in 2023, with 38% of e-commerce revenue coming from repeat customers [20] Market Data and Key Metrics - The company saw sustained price deflation due to macroeconomic challenges, with unit growth of approximately 8% in Q4 2023 [13] - The automotive aftermarket is valued at $389 billion, and the company is well-positioned to capture market share as consumer confidence rebounds [13] - The company expects revenue growth in 2024 to range from -2% to +2%, driven by deflation and mid- to high single-digit unit growth [8] Company Strategy and Industry Competition - The company is focusing on expanding its tech and product offerings, including growing third-party premium brands and enhancing the e-commerce experience [21][64] - A new semi-automated facility in Las Vegas is expected to open in Q2 2024, driving operating leverage and reducing last-mile transportation costs [14][22] - The company is prioritizing marketing and branding efforts, including YouTube content, which saw a 10x increase in views YoY in early 2024 [7][64] - The company aims to reduce marketing spend from 12.3% to 10% of revenue, with a focus on app engagement and organic growth [45][49] Management Commentary on Operating Environment and Future Outlook - The company faced a challenging macroeconomic environment in 2023, with price compression and deflation impacting margins [8][9] - Management expects deflation to continue through the first three quarters of 2024, with gross profit margins projected to be around 31% ±100 basis points [8] - The company is focused on cost reduction initiatives, including the elimination of 150 global roles, expected to save $10 million annually [62] - Management remains confident in the company's long-term growth potential, citing a large TAM, an aging car fleet, and low online penetration in the automotive aftermarket [52][58] Other Important Information - The company ended 2023 with $51 million in cash and an untapped revolver of up to $75 million [13][24] - Inventory at the end of Q4 was $129 million, down from $136 million in the prior year [31] - The company renewed its share repurchase program through July 2026, with $25 million remaining [31] Q&A Session Summary Question: Focus areas for 2024 and cost reduction efforts [35] - Management highlighted three key priorities for 2024: e-commerce experience and app engagement, product offering expansion, and marketing/branding [41] - The company is deferring some initiatives, such as the do-it-for-me offering, to focus on immediate growth opportunities [53] Question: Impact of cost reductions and gross margin guidance [47][59] - The company reduced 15% of corporate roles and 10% of frontline roles, with annualized savings of $10 million [47] - Gross margin guidance for 2024 is 31% ±100 basis points, impacted by deflation and outbound freight costs [59] Question: Mobile app growth and marketing spend flexibility [49] - The mobile app has seen strong organic growth, with higher average selling prices and repeat purchase rates [49] - The company aims to reduce marketing spend by 100-200 basis points over the next few years [49] Question: Revenue guidance range and factors influencing it [51] - Revenue guidance for 2024 is -2% to +2%, with the range influenced by price compression, deflation, and macro factors [51] Question: Do-it-for-me offering and its contribution in 2024 [53] - The do-it-for-me initiative is a long-term bet, but the company is deferring it to focus on immediate growth opportunities in 2024 [53]

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 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33264 CARPARTS.COM, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 68-0623433 (State or Other ...

TORRANCE, Calif. – March 7th, 2024 – CarParts.com, Inc. (NASDAQ: PRTS), one of the leading eCommerce providers of automotive parts and accessories, and a one-stop shop for vehicle repair and maintenance needs, is reporting results for the fourth quarter and fiscal year ended December 30,2023. Fiscal Year 2023Summary vs. Fiscal Year 2022 Fourth Quarter 2023Summary vs.Year-Ago Quarter Management Commentary CarParts.com Reports Highest Fiscal Year Sales in Company History Record Fiscal Year Sales of $676 milli ...