LightInTheBox Holding Co., Ltd. (LITB) Q3 2024 Earnings Call Transcript
Total Revenues $57 million, a decrease of 63% year-over-year, primarily due to intense competition in the global e-commerce industry.
Gross Profit $35 million, down from $92 million in the same quarter last year, with a gross margin improvement to 61% from 60% year-over-year, attributed to higher margins from new product lines, particularly Ador.com.
Total Operating Expenses $34 million, a reduction of 63% year-over-year from $92 million, mainly due to the decline in revenue and effective operational efficiency enhancements.
Fulfillment Expenses $4 million, a decrease of 50% year-over-year, reflecting streamlined logistics and supply chain processes.
Selling and Marketing Expenses $25 million, down 67% year-over-year, with improved return on investment due to higher advertising efficiency and customer engagement from new product lines.
General and Administrative Expenses $6 million, a decrease of 42% year-over-year, with R&D expenses at $3 million compared to $5 million in the same quarter last year.
Net Income $0.3 million, compared to $0.1 million in the same quarter last year, indicating maintained profitability.
Adjusted EBITDA $0.8 million, consistent with the third quarter of 2023.
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LightInTheBox to Host 2025 AGM Teleconference for Shareholders
- Annual General Meeting Arrangement: LightInTheBox is set to hold its annual general meeting on December 19, 2025, at 10:00 a.m. in Shanghai, providing a teleconference option to enhance transparency and shareholder engagement globally.
- Participation Details: Shareholders can join the meeting via dial-in numbers from the U.S. (+1 646-254-3594), Singapore (+65 6818-5374), and Mainland China (400-810-8822), ensuring accessibility for global participants.
- No Proposals Submitted: The AGM will not include any proposals for shareholder approval, instead serving as an open forum for discussion between shareholders and management, which strengthens corporate governance.
- Company Background: Since its inception in 2007, LightInTheBox has focused on global specialty retail, launching its proprietary brand Ador.com in 2024 to cater to the high-end fashion needs of women aged 35-55, showcasing a strategic pivot in market segmentation.
LightInTheBox Schedules 2025 AGM with Teleconference Access for Shareholders
- Annual General Meeting Scheduled: LightInTheBox will hold its annual general meeting on December 19, 2025, at 10:00 a.m. in Shanghai, providing teleconference access to enhance shareholder engagement with management.
- No Proposals Submitted: The AGM will not include any proposals for shareholder approval, serving instead as an open forum for discussions, which underscores the company's commitment to transparency and shareholder involvement.
- Global Retail Strategy: Since its inception in 2007, LightInTheBox has focused on global specialty retail, launching its proprietary brand Ador.com in 2024 to cater to the growing demand for high-end fashion among women aged 35-55, demonstrating the company's responsiveness to market trends.
- Diverse Service Offerings: The company also provides a comprehensive suite of services to e-commerce businesses, including advertising, supply chain management, and payment processing, aiming to enhance market competitiveness through optimized logistics and improved customer experience.
