LightInTheBox Posts Loss In Q1; Total Revenues Down 16.3%

(RTTNews) - LightInTheBox Holding Co., Ltd. (LITB) posted a net loss of $5.5 million in the first quarter of 2022, compared with net income of $1.4 million, a year ago. Net loss per ADS was $0.05, compared with net income per ADS of $0.01. Adjusted EBITDA was negative at $4.6 million, compared with income of $2.3 million, prior year.

Total revenues decreased 16.3% year-over-year to $93.8 million from $112.0 million, previous year. Revenues generated from product sales were $91.4 million, compared with $109.4 million, last year.

Jian He, CEO of LightInTheBox, said, "Traditionally, the first quarter is slower in the e-commerce industry, but since the beginning of this year, we faced even more unprecedented challenges and macroeconomic uncertainties negatively affecting supply chain and consumer sentiment."