Seeking Alpha

LightInTheBox dims AH on lower-than-expected revenues, weak guidance

  • LightInTheBox (LITB) is down 23.3% AH after Q2 results underwhelmed. Revenue grew 52.6% Y/Y to $72.2M, but missed consensus of $75.8M. Shares are still up 56% from LITB's June IPO price of $9.50.
  • Total customers increased 140% Y/Y to 1.2M
  • Revenue from repeat customers increased 123.7% Y/Y to $23.4 million.
  • Margins expanded across the board as LITB scales its business. Gross margin rose by 4.3% from the previous year to 46%. Adjusted operating income margin improved to 5.4% from 0% in Q2 2012.
  • Fulfillment expenses grew 56.9% to $3.7M. Selling & Marketing expenses were up 50.3% to $19.6M, and G&A expenses ballooned 74.1% to $8.8M, reflecting increased share-based compensation.
  • The company's Q3 revenue guidance of $68M-$70M was shy of the mean analyst expectation of $78.5M. The outlook represents Y/Y growth of 33.2%-37.1%.
  • Conference call scheduled for 8am ET tomorrow
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