LightInTheBox Posts Narrower Loss In Q1; Total Revenues Up 57.6%

(RTTNews) - LightInTheBox Holding Co., Ltd. (LITB) posted a first quarter net loss of $4.0 million, compared with a loss of $5.5 million, prior year. Net loss per ordinary share was $0.02, flat with prior year. Net loss per ADS was $0.03, compared with a loss of $0.05.

Total revenues increased by 57.6% year-over-year to $147.8 million. Sales from apparel increased by 77.3% to $119.2 million. Revenues from apparel represented 80.7% of total revenues in the first quarter of 2023.

For the second quarter, the company expects net revenues to be between $180 million and $200 million.

As of March 31, 2023, the company had cash and cash equivalents and restricted cash of $73.6 million.

Shares of LightInTheBox are up 9% in pre-market trade on Friday.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.