"Revenue -- $42.4 million for the quarter, representing a 14.3% decrease year over year, mainly attributed to fewer orders resulting from reduced advertising and e-commerce platform migration effects."
"Adjusted EBITDA -- $1.6 million positive, marking the first positive quarter in six quarters, driven by cost controls and expense alignment."
"Net Loss -- $1.6 million for the quarter, narrowing from a $12.6 million loss in the prior year period."
"SG&A Expense -- $21.2 million, down 20.8% from the prior year, reflecting reduced fulfillment, cost optimization, and the impact of a fourth-quarter reduction in force."
The company reported Q1 2026 results showing mixed performance with revenue of $42.4 million, down 14.3% year-over-year, primarily from fewer orders during e-commerce platform migration. However, profitability improved significantly with adjusted EBITDA turning positive at $1.6 million for the first time in six quarters. Active customers declined 13% to 599,000, and direct-to-consumer orders fell 25% to 539,000, though net revenue per order increased 4.1% to $69.50. The company achieved these improvements through aggressive cost controls, reducing advertising spend 65.2%, product development expenses 59.2%, and SG&A expenses 20.8%. Net loss narrowed substantially to $1.6 million from $12.6 million year-over-year. Operating cash flow remained breakeven, and the company maintained $11.8 million in cash.
#financial-performance #e-commerce-migration #cost-optimization #customer-retention #profitability-turnaround
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