1stdibs.com(US:DIBS)2024-08-06 14:08Financial Performance - Net revenue reached $22.2 million, a 6% increase year-over-year[2] - Gross profit increased by 9% year-over-year to $15.9 million[2] - Gross margin improved to 71.7% compared to 69.8% in the second quarter of 2023[2] - GAAP net loss significantly decreased to $4.4 million from $8.3 million in the second quarter of 2023[2] - Adjusted EBITDA margin improved to -7.1% from -21.9% in the second quarter of 2023[2] Operating Metrics - GMV increased by 2% year-over-year to $91.5 million[3] - The number of orders increased by 5% year-over-year to approximately 34,000[3] - Active buyers decreased by 6% year-over-year to approximately 61,000[4] Financial Position - Cash, cash equivalents, and short-term investments totaled $110.6 million as of June 30, 2024[2] Q3 2024 Guidance - GMV is projected to be between $84 million and $91 million[6] - Net revenue is expected to range from $20.8 million to $22.1 million[6] - Adjusted EBITDA margin is forecasted to be between -15% and -10%[6]