1stdibs.com(DIBS) - 2024 Q3 - Quarterly Results

Financial Performance - Net revenue for Q3 2024 was $21.2 million, a 3% increase year-over-year[2] - Gross profit was $15.0 million, reflecting a 1% decrease year-over-year[2] - Gross margin decreased to 71.0% from 73.3% in Q3 2023[2] - GAAP net loss was $5.7 million, compared to a net loss of $3.3 million in Q3 2023[2] - Net revenue for Q3 2024 was $21,190,000, a 2.6% increase from $20,663,000 in Q3 2023[24] - Gross profit for Q3 2024 was $15,036,000, slightly down from $15,153,000 in Q3 2023[24] - Net loss for Q3 2024 was $5,683,000, compared to a net loss of $3,305,000 in Q3 2023, indicating a worsening of 72.0%[24] - Adjusted EBITDA for the nine months ended September 30, 2024, was $(6,366,000), compared to $(11,635,000) for the same period in 2023[32] - Adjusted EBITDA margin for Q3 2024 was (14.1)%, compared to (8.7)% in Q3 2023[32] Operational Metrics - Gross Merchandise Value (GMV) was $84.6 million, a 5% decrease year-over-year[3] - Number of Orders increased by 7% year-over-year to approximately 33,000[3] - Active Buyers decreased by 1% year-over-year to approximately 63,000[3] - Fourth quarter 2024 GMV guidance is between $86 million and $93 million[6] - Fourth quarter 2024 net revenue guidance is between $21.4 million and $22.7 million[6] Cash Flow and Investments - Cash used in operating activities for the nine months ended September 30, 2024, was $(5,708,000), an improvement from $(11,475,000) in the same period of 2023[26] - Cash, cash equivalents, and restricted cash at the end of the period were $25,659,000, down from $35,778,000 at the end of September 2023[26] - Total cash provided by investing activities was $15,325,000 for the nine months ended September 30, 2024, compared to $(109,600,000) in the same period of 2023[26] Shareholder Actions - The company has authorized a stock repurchase program of up to $10.0 million[3] - The company reported a decrease in weighted average common shares outstanding from 39,962,932 in Q3 2023 to 36,719,249 in Q3 2024[24] Operating Expenses - Total operating expenses increased to $22,428,000 in Q3 2024 from $20,386,000 in Q3 2023, representing a 10.1% rise[24]