"Revenue -- $43.7 million, down 0.7% sequentially and 9.4% year over year, marking the smallest year-over-year decline since 2021. Gross Margin -- 53.3%, increasing 30 basis points from 53% driven by improved promotional strategies and a more favorable product mix. Orders and Customers -- Total orders were 619,000, down 12.5% year over year; active customers ended at 660,000, a 7% decline."
"Advertising Spend -- $3.2 million in the quarter, up 11.8% year over year, but spending was reduced in the second half to preserve liquidity and profitability. Product Development Expense -- $1.6 million, down 66.1% year over year, as a result of technology organization streamlining and lower amortization after platform migration. SG&A Expense -- $21.3 million, representing a 14% decrease due to cost optimization and a recent reduction in force expected to deliver roughly $5 million in annualized savings."
Revenue declined 9.4% year over year to $43.7 million, driven by reduced advertising and customer experience disruptions from an e-commerce platform migration. Active customers fell 7% to 660,000 and total orders dropped 12.5% to 619,000, reducing engagement and order frequency. Gross margin improved to 53.3%, up 30 basis points from improved promotions and product mix. Net loss widened to $3.0 million from $1.3 million, primarily due to the absence of a $7.8 million non-cash derivative gain in the prior year. Advertising was $3.2 million, product development expense fell to $1.6 million, SG&A declined to $21.3 million, and adjusted EBITDA was negative $1.2 million. Management no longer expects year-over-year revenue growth in the fourth quarter and forecasts full-year revenue at the low end of guidance.
Read at The Motley Fool
Unable to calculate read time
Collection
[
|
...
]