1stdibs.com(DIBS) - 2025 Q3 - Quarterly Results

Financial Performance - Net revenue for Q3 2025 was $22.0 million, representing a 4% increase year-over-year[6] - Gross profit for the same period was $16.3 million, up 9% year-over-year, with a gross margin of 74.3%, compared to 71.0% in Q3 2024[6] - GAAP net loss narrowed to $3.5 million from a net loss of $5.7 million in Q3 2024[6] - Non-GAAP Adjusted EBITDA was $(0.2) million with an Adjusted EBITDA margin of (1.1)%, improving from $(3.0) million and (14.1)% in Q3 2024[6] - Net revenue for Q3 2025 was $21,972 million, a 3.7% increase from $21,190 million in Q3 2024[26] - Gross profit for Q3 2025 reached $16,331 million, up from $15,036 million in Q3 2024, reflecting a gross margin improvement[26] - Net loss for Q3 2025 was $3,506 million, compared to a net loss of $5,683 million in Q3 2024, indicating a 38.4% improvement[26] - Adjusted EBITDA for Q3 2025 was $(243) million, significantly better than $(2,983) million in Q3 2024[35] - Adjusted EBITDA margin improved to (1.1)% in Q3 2025 from (14.1)% in Q3 2024, showing enhanced operational efficiency[35] Operational Metrics - Gross Merchandise Value (GMV) reached $89.1 million, a 5% increase year-over-year[13] - The number of orders decreased by 4% year-over-year to approximately 32,000[13] - Active buyers increased by 1% year-over-year to approximately 63,000[13] - Total operating expenses decreased to $21,014 million in Q3 2025 from $22,428 million in Q3 2024, a reduction of approximately 6.3%[26] - Cash used in operating activities for the nine months ended September 30, 2025, was $6,707 million, compared to $5,708 million in the same period of 2024[28] - The provision for transaction losses was $791 million in Q3 2025, down from $947 million in Q3 2024, indicating improved risk management[26] Shareholder Actions - The company authorized a $12 million share repurchase program, reflecting confidence in long-term value[5] Future Guidance - Q4 2025 guidance for net revenue is projected between $22.3 million and $23.5 million[8] - Adjusted EBITDA margin guidance for Q4 2025 is expected to be between 2% and 5%[8] Cash Position - Cash, cash equivalents, and restricted cash at the end of Q3 2025 totaled $23,634 million, down from $25,659 million at the end of Q3 2024[28] - The company reported a decrease in stock-based compensation expense to $10,838 million for the nine months ended September 30, 2025, from $11,008 million in 2024[28]