"Revenue -- $78.9 million, up 4.2% year over year and 5.2% quarter over quarter, surpassing the high end of the $76 million to $78 million guidance range. Adjusted EBITDA -- $13.7 million, representing 17.4% of revenue; exceeded guidance of 14%-15% margin and marks the ninth consecutive quarter of positive adjusted EBITDA. Active Subscribers (Quarter-End) -- 129,073, a decline of 6.2% year over year; average active subscribers were 137,455, down 2.8% from the prior year."
"Subscriber Trends (Sequential) -- Subscriber count fell from 145,837 at end of previous quarter, attributed to seasonally weaker acquisitions. Promotional Activity Impact -- CFO Thacker said, "excluding subscribers generated from the highest level of promotions in Q2 '23, our year-over-year subscriber growth would have been much better than the 6% decline we reported." Reserve Business Order Growth -- Orders for reserve rentals were up approximately 10% year over year in July and 20% year over year in August."
Revenue reached $78.9 million, up 4.2% year over year and 5.2% sequentially, beating guidance. Adjusted EBITDA was $13.7 million, or 17.4% of revenue, marking the ninth consecutive quarter of positive adjusted EBITDA and exceeding margin guidance. Active subscribers declined 6.2% year over year to 129,073, with average active subscribers down 2.8%. Reserve rentals orders grew roughly 10% in July and 20% in August, and reserve new-customer growth rose about 50% year over year in August without extra marketing spend. Resale revenue increased 35.1%, fulfillment costs improved, gross margin rose sequentially, and operating expenses fell due to cost reductions and lower stock-based compensation.
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