1stDibs reports 2% revenue growth in Q1`
Luxury online marketplace 1stDibs reported modest year-over-year growth for the first quarter ended March 31, driven by steady execution and market share gains.
The New York-based company said net revenue for the first quarter reached $22.5 million, up 2% from the same period last year.
Gross profit also rose 2% to $16.3 million, while gross margin held steady at 72.4%. However, the company's net loss widened to $4.8 million, compared to $3.3 million a year ago.
The number of orders held steady at approximately 35,000 in Q1, while active buyers climbed 7% to roughly 65,000.
"Our momentum continued in the first quarter, with strong execution, market share gains, and steady progress on our roadmap,' said David Rosenblatt, 1stDibs chief executive officer.
'While the macro environment remains unpredictable, we believe our model and strategy position us well for the road ahead.'
Tom Etergino, chief financial officer added, 'We delivered a solid quarter, gaining market share while diligently managing expenses and making progress against our 2025 plan. We remain focused on executing efficiently.'
Looking ahead to the second quarter, 1stDibs expects GMV between $85 million and $92 million, with net revenue ranging from $21.2 million to $22.5 million. The company expects an adjusted EBITDA margin of 14% to 10%.
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