1Stdibs.Com Reports 29% Growth In Q2 Revenue, Expects Q3 Revenue, GMV To Decline Sequentially

1Stdibs.Com Inc DIBS reported second-quarter FY21 sales growth of 29.1% year-on-year, to $24.7 million.
Seller marketplace services revenue rose 29% Y/Y.
Gross Merchandise Value (GMV) of $107 million grew 34% Y/Y.
The number of Orders for the quarter increased 28% Y/Y to 38,000, and active buyers rose 39% to 69,000.
Gross profit increased 33% Y/Y to $17.4 million with a profit margin of 70.4%, a 220 basis points expansion.
The operating loss widened to $(4.6) million. Adjusted EBITDA loss widened to $(3) million.
1Stdibs held $176.1 million in cash and equivalents as of June 30, 2021.
Loss per share was $(0.44). Non-GAAP Adjusted EBITDA was $(3.0) million with a margin of (12.3)%.
"In addition to the secular shift to digital, we have an ambitious roadmap and are investing in multiple growth opportunities like new buyer activation and international expansion," said CEO David Rosenblatt.
Outlook: 1Stdibs sees Q3 FY21 revenue of $23.6 million - $24.3 million.
The company expects a Q3 GMV of $100 million - $104 million.
Adjusted EBITDA margin of (21%) - (18%).
Price Action: DIBS shares closed lower by 2.07% at $17.51 on Wednesday.

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