1stdibs.com(DIBS) - 2024 Q4 - Annual Results

Financial Performance - Net revenue for Q4 2024 was $22.8 million, a 9% increase year-over-year[5] - Gross profit for Q4 2024 was $16.5 million, reflecting a 10% year-over-year growth[5] - Full year 2024 net revenue reached $88.3 million, a 4% increase compared to the previous year[5] - Full year 2024 gross profit was $63.4 million, a 6% increase year-over-year[5] - Net revenue for Q4 2024 was $22,770 million, a 8.8% increase from $20,922 million in Q4 2023[24] - Gross profit for the year ended December 31, 2024, reached $63,426 million, up from $59,573 million in 2023, reflecting a growth of 6.9%[24] Margins and EBITDA - Gross margin improved to 72.3% in Q4 2024, up from 71.5% in Q4 2023[5] - Adjusted EBITDA margin for Q1 2025 is projected to be between (12%) and (8%)[7] - Adjusted EBITDA for Q4 2024 was $(1,643) million, slightly improved from $(1,705) million in Q4 2023[34] - Adjusted EBITDA margin for the year ended December 31, 2024, was (9.1)%, an improvement from (15.8)% in 2023[34] Operating Expenses and Losses - Total operating expenses increased to $89,641 million for the year ended December 31, 2024, compared to $90,600 million in 2023, a decrease of 1.1%[24] - The net loss for the year ended December 31, 2024, was $18,633 million, an improvement from a net loss of $22,699 million in 2023, representing a reduction of 17.9%[27] Cash Flow - Cash flows from operating activities showed a net cash used of $2,910 million in 2024, compared to $13,556 million in 2023, indicating a significant reduction in cash outflow[27] - The company reported a net cash provided by investing activities of $22,291 million in 2024, contrasting with a net cash used of $100,232 million in 2023[27] Customer Metrics - Gross Merchandise Value (GMV) for Q4 2024 was $94.5 million, a 9% increase year-over-year[11] - The number of orders in Q4 2024 was approximately 37,000, a 7% increase year-over-year[11] - Active buyers increased to approximately 64,000, reflecting a 6% year-over-year growth[11] Future Guidance - The company expects Q1 2025 net revenue guidance to be between $21.7 million and $22.8 million[7] Shares and Compensation - The weighted average common shares outstanding for Q4 2024 was 36,327,939, down from 39,953,131 in Q4 2023[24] - The company incurred stock-based compensation expense of $14,776 million for the year ended December 31, 2024, compared to $12,363 million in 2023, reflecting a 19.5% increase[34]