Benzinga -
- LightInTheBox Holding Co Ltd (NYSE: LITB) reported third-quarter FY22 sales growth of 22.6% year-on-year to $121 million, beating the consensus of $78.49 million.
- Sales from apparel increased by 60.8% to $99.6 million, and revenues from apparel represented 82.3% of total revenues in Q3.
- The gross margin for the quarter jumped 1,340 basis points to 57.9%.
- The operating expenses for the quarter 39.6% to $70.5 million.
- Loss from operations was $(0.5) million versus a loss of $(6.6) million last year.
- The company held $57 million in cash and equivalents as of September 30, 2022.
- Adjusted EBITDA for the quarter was $0.4 million versus an EBITDA loss of $(5.1) million a year ago.
- Earnings per ADS was $0.00 compared to a $(0.05) loss the prior year.
- "We will continue to consolidate our strengths in supply chain management, optimize operational efficiency and customer experience to navigate through uncertainties and deliver long-term growth," said CEO Jian He.
- Price Action: LITB shares are trading higher by 10.83% at $1.33 on the last check Friday.