- Lightinthebox Holding Co Ltd LITB reported Q2 FY22 revenue growth of 8.3% year-over-year to $132.40 million, beating analysts’ consensus estimate of $78.49 million.
- Product sales rose 8.8% to $129.8 million while services fell 13.3% to $2.5 million.
- Gross margin for the quarter increased 850 basis points to 55.3% and gross profit increased 28.2% to $73.2 million.
- Operating expenses increased 24.8% year over year to $75.6 million.
- Operating loss for the quarter was $(2.5) million compared to a loss of $(3.5) million in the prior year.
- The Company held $65.7 million in cash and cash equivalents as of June 30, 2022.
- Adjusted EBITDA for the quarter was $(1.5) million compared to $14.5 million a year ago.
- Loss per American Depositary Share (ADS) was $(0.02) versus gain per ADS of $0.08 last year.
- “We have seen significant improvements in our supply chain and logistics and are confident of maintaining revenue growth momentum in the second half of 2022,” said CEO Jian He.
- Price promotion: LITB shares were trading up 4.04% to $1.03 premarket on the latest check Tuesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
