### 1stdibs.com, Inc. Reports Second Quarter 2024 Financial Results

### 1stdibs.com, Inc. Reports Second Quarter 2024 Financial Results 1stdibs.com, Inc. (NASDAQ:DIBS), a leading online marketplace for luxury design products, today announced its financial results for the second quarter ending June 30, 2024. #### Key Financial Metrics | Metric | Q2 2024 | Q2 2023 | YoY Change | Wall Street Consensus | |---------------------------------|----------------|----------------|------------|-----------------------| | Net Revenue | $22.2 million | $21.0 million | +6% | $21.81 million | | Gross Profit | $15.9 million | $14.6 million | +9% | N/A | | Gross Margin | 71.7% | 69.8% | +1.9pp | N/A | | GAAP Net Loss | $(4.4) million | $(8.3) million | N/A | N/A | | Non-GAAP Adjusted EBITDA | $(1.6) million | $(4.6) million | N/A | N/A | | Adjusted EBITDA Margin | (7.1)% | (21.9)% | N/A | N/A | | Cash, Equivalents & Investments | $110.6 million | N/A | N/A | N/A | **Interpretation:** 1stdibs demonstrated robust financial performance with a 6% year-over-year increase in net revenue and a notable improvement in gross profit and gross margin. Furthermore, the company's GAAP net loss reduced significantly, indicating better cost management and operational efficiency. The company outperformed the Wall Street consensus for net revenue. #### Key Operational Data | Metric | Q2 2024 | Q2 2023 | YoY Change | |--------------------|---------|---------|------------| | GMV | $91.5M | $89.7M | +2% | | Number of Orders | 34K | 32K | +5% | | Active Buyers | 61K | 65K | -6% | **Interpretation:** Despite the decrease in active buyers, the company successfully increased the number of orders and GMV, indicating improved customer engagement and higher transaction value per buyer. #### Comments from Company Officers David Rosenblatt, CEO of 1stdibs, expressed enthusiasm about the company's return to GMV and revenue growth, highlighting positive developments such as accelerated order growth and conversion rate expansion. CFO Tom Etergino mentioned improvements in monetization, gross margins, and greatly reduced operating expenses, marking this quarter as a significant step forward with the best Adjusted EBITDA margins since turning public. #### Dividends or Share Repurchase Program No information on dividends or share repurchase programs was provided in the release. #### Forward Guidance For the third quarter of 2024, 1stdibs provided an outlook but included a cautionary note that actual results may vary. Importantly, a GAAP reconciliation to non-GAAP guidance measures like adjusted EBITDA was not available due to potential variability in future expenses. #### Stock Price Movement After the earnings release, the stock price experienced a slight increase of 0.025%. Overall, 1stdibs.com, Inc. showcased a steady performance and promising operational developments in the second quarter of 2024. The company recognized key areas of improvement and set a foundation for continued growth and efficiency.