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]