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NEW YORK - 1stdibs.com, Inc. (NASDAQ:DIBS), an online luxury design marketplace, saw its shares surge 9.3% after reporting fourth quarter 2024 results that beat revenue expectations and showed significant improvement in key metrics.
The company reported revenue of $22.8 million for the quarter, up 9% YoY and surpassing analyst estimates of $21.82 million. While adjusted earnings per share of -$0.14 met consensus forecasts, 1stdibs highlighted its strongest gross merchandise value (GMV) growth in three years at 9% YoY to $94.5 million.
"2024 marked a turning point, highlighted by our highest GMV growth in three years in the fourth quarter," said CEO David Rosenblatt. "Market share gains and a return to revenue growth in 2024 despite a challenging market are clear signals that our strategy is working."
The company also touted improved profitability, with adjusted EBITDA margin reaching -7.2% compared to -8.1% in Q4 2023. CFO Tom Etergino noted these were the "strongest Adjusted EBITDA margins since becoming a public company."
Other key metrics showed positive momentum, with active buyers increasing 6% YoY to approximately 64,000 and number of orders rising 7% to about 37,000.
For Q1 2025, 1stdibs expects revenue between $21.7-22.8 million, slightly below analyst projections of $23.26 million. The company forecasts adjusted EBITDA margin to range from -12% to -8%.
While 1stdibs faces near-term headwinds, investors appear encouraged by the accelerating growth and margin improvements as the company executes on its strategic initiatives.
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