Financial Performance - Net sales reached $108.9 million, a 3% year-over-year increase[27] - Average Order Value (AOV) was $2,074[22] - Total orders increased by 18% year-over-year[22] - Repeat orders grew by 11% year-over-year[22] - Gross margin was 58.3%[22] - Adjusted EBITDA was $3.2 million, representing a 2.9% margin[22] - Net cash ended the period at $98.8 million, a 5% year-over-year increase[22, 27] Strategic Initiatives - The company opened one new showroom in Alpharetta, Georgia, bringing the total to 42 showrooms[27] - The company paid off its outstanding term loan balance of $34.8 million, resulting in zero debt[27] Future Outlook - The company projects third-quarter net sales growth of 8% to 10% year-over-year and adjusted EBITDA of $3 million to $4.5 million[51] - The company anticipates full-year net sales growth of 2.5% to 4% year-over-year and an adjusted EBITDA margin of 3% to 4%[51]

Financial Performance - First quarter 2025 net sales reached $93.9 million[30], a decrease of 3.5% year-over-year[36] - The company achieved a gross margin of 58.6% in Q1 2025[30], compared to 59.9% in Q1 2024[36] - Adjusted EBITDA for Q1 2025 was $1.1 million[30], representing 1.1% of net sales[30] - The average order value (AOV) in Q1 2025 was $2,062[30], down from $2,402 in Q1 2024[39] - Total orders increased by 12% year-over-year in Q1 2025[30] Growth and Strategy - The company experienced a 13% year-over-year growth in repeat orders in Q1 2025[30] - Fine jewelry bookings contributed 14% of total bookings, reflecting a year-over-year expansion of approximately 350 basis points[34] - The company opened one new showroom in Southlake, Texas, bringing the total to 41 showrooms[34] - The company aims to accelerate net sales growth to a low teens percentage year-over-year by 2027[61] - The company targets a double-digit adjusted EBITDA margin by 2027[61] Assets - The company ended Q1 2025 with $92.5 million in net cash, a 5% increase year-over-year[30]

Q1 2025 Financial Performance - Net sales reached $93.9 million[20], a decrease of 3.5% year-over-year[26] - Average Order Value (AOV) was $2,062[20], a decrease from $2,402 in Q1 2024[29] - Total orders increased by 12% year-over-year, reaching 45,500[20, 29] - Gross margin was 58.6%[20], a decrease of 130 basis points year-over-year[26] - Adjusted EBITDA was $1.1 million, representing 1.1% of net sales[20, 26] Growth and Expansion - Repeat orders grew by 13% year-over-year[20] - Fine jewelry bookings contributed 14% of total bookings, a year-over-year expansion of approximately 350 basis points[24] - The company opened one new showroom in Southlake, Texas, bringing the total to 41 showrooms[24] 2025 Outlook - The company expects second-quarter net sales growth to be between -3% and 0% year-over-year and adjusted EBITDA to be between -$1.5 million and $2 million[50] - For the full fiscal year 2025, the company anticipates net sales growth of 1% to 3% year-over-year and an adjusted EBITDA margin of 3% to 4%[50] Medium-Term Targets - The company aims to accelerate net sales growth to a low teens percentage by 2027[53] - The company expects a gross margin in the high 50s percentage through 2027[53] - The company plans to decrease marketing expenses as a percentage of net sales from 2025 to 2027[53] - The company targets an adjusted EBITDA margin in the double digits by 2027[53]