- Lightinthebox Holding Co Ltd (NYSE:LITB) reported second-quarter FY22 sales growth of 8.3% year-on-year, to $132.40 million, beating the analyst consensus estimate of $78.49 million.
- Product sales increased 8.8% to $129.8 million, while services fell 13.3% to $2.5 million.
- The gross margin for the quarter expanded 850 basis points to 55.3%, and the gross profit rose 28.2% to $73.2 million.
- The operating expense increased 24.8% Y/Y to $75.6 million.
- The operating loss for the quarter was $(2.5) million against a loss of $(3.5) million last year.
- The company held $65.7 million in cash and equivalents as of June 30, 2022.
- Adjusted EBITDA for the quarter was $(1.5) million versus $14.5 million last year.
- Loss per American Depositary Share (ADS) was $(0.02) versus an income per ADS of $0.08 last year.
- “We have seen definite improvements in our supply chain and logistics, and we are confident of maintaining revenue growth momentum in the second half of 2022,” said CEO Jian He.
- Price action: LITB shares traded higher by 4.04% at $1.03 premarket on the last check Tuesday.
Jim Cramer Takes Fresh Swipe At Bitcoin, Calling It A ‘Tough Own’ – MicroStrategy CEO Michael Saylor Responds
CNBC television host Jim Cramer has taken to X with a somber outlook on Bitcoin (CRYPTO: BTC), marking his second commentary on the cryptocurrency within 24 hours.
