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Stock impact report

1stDibs Reports Third Quarter 2023 Financial Results

1stdibs.com, Inc. (DIBS) 
Company Research Source: GlobeNewswire
NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- 1stdibs.com, Inc. (NASDAQ: DIBS), a leading online marketplace for luxury design products ("1stDibs" or the "Company"), today reported financial results for its third quarter ended September 30, 2023. Third Quarter 2023 Financial Highlights Net revenue was $20.7 million, a decrease of 9% year-over-year.Gross profit was $15.2 million, a decrease of 2% year-over-year.Gross margin was 73.3%, compared to 68.0% in the third quarter 2022.GAAP net loss was $3.3 million compared to a net loss of $9.0 million in the third quarter 2022.Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin was $(1.8) million and (8.7)%, respectively, compared to $(5.5) million and (24.0)%, respectively, in the third quarter 2022.Cash, cash equivalents and short-term investments totaled $143.0 million as of September 30, 2023. “While softness in the luxury housing market weighs on business, our recent actions have put us in a strong competitive position for when dema Show less Read more
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