1stdibs.com Inc (NAS:DIBS)
$ 2.73 -0.020 (-0.73%) Market Cap: 97.42 Mil Enterprise Value: 18.26 Mil PE Ratio: 0 PB Ratio: 1.01 GF Score: 57/100
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Q3 2024 1stdibs.Com Inc Earnings Call Transcript

Nov 8, 2024 / 01:00 PM GMT
Release Date Price: $4.02 (-7.59%)

Key Points

Positve
  • 1stdibs.com Inc (DIBS) achieved year-over-year revenue growth for the second consecutive quarter, with accelerating order growth and sequential active buyer growth.
  • Conversion rates have increased year-over-year for four straight quarters, with double-digit improvements for both new and returning buyers.
  • The company has implemented a machine learning-based pricing model for furniture, providing stronger, more precise recommendations to maximize conversion.
  • 1stdibs.com Inc (DIBS) has initiated a $10 million share repurchase program, indicating confidence in the company's intrinsic value.
  • The company is focused on improving efficiency and positioning the business for sustainable growth, with plans to generate operating leverage at mid-single-digit revenue growth.
Negative
  • Gross Merchandise Value (GMV) contracted due to weaker than expected average order values, which the company views as a temporary issue.
  • Adjusted EBITDA margins came in toward the low end of guidance, with anticipated additional margin compression in the fourth quarter due to seasonal increases in performance marketing.
  • The luxury housing market remains soft, impacting demand for high-end furnishings, which is a cyclical issue affecting the company's performance.
  • The company experienced a decline in unique sellers, down 13%, due to policy changes and elevated churn, which is expected to continue in the fourth quarter.
  • Operating expenses increased by 10% year-over-year, driven by higher technology development and sales and marketing expenses, impacting adjusted EBITDA margins.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DIBS.OQ - 1stdibs.Com Inc
Q3 2024 1stdibs.Com Inc Earnings Call
Nov 08, 2024 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by. My name is John and I'll be your conference operator for today. At this time. I would like to welcome everyone to the first dibs dotcom inc third quarter, 2024 earnings conference call. All lines have been placed and mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again, I would now like to turn the call over to Kevin Labuz, head of investor relations and corporate development. Please go ahead.

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