- Overstock.com Inc (NASDAQ:OSTK) reported a third-quarter FY22 sales decline of 33% year-on-year to $460.28 million, missing the consensus of $479.46 million.
- Active customers decreased 33% Y/Y to 5.8 million. Orders delivered fell 41% Y/Y to 1.9 million, and the average order value gained 13% Y/Y to $243.
- Adjusted EPS of $0.13 beat the analyst consensus of $0.12.
- Gross profit fell 31.4% Y/Y to $107.5 million, with a gross profit margin of 23.3%.
- Operating margin was 1.2%, and operating income for the quarter declined over 95% to $5.7 million.
- Adjusted EBITDA decreased to $14.8 million from $36.1 million last year.
- The company held $427.5 million in cash and equivalents as of September 30, 2022. Cash provided by operating activities for nine months amounted to $17.6 million.
- Price Action: OSTK shares are trading lower by 3.39% at $24.76 on the last check Thursday.
ADC Therapeutics Announced Initial Safety Run‐In Results From Lotis-5 Phase 3 Trial Demonstrate ORR Of 75% & 40% CR Rate With No New Safety Signals
ADC Therapeutics SA (NYSE: ADCT) today announced that ZYNLONTA® (loncastuximab tesirine-lpyl) and camidanlumab tesirine (Cami) abstracts have been accepted for presentation at the Tenth Annual Meeting of the Society of Hematologic Oncology (SOHO 2022), which will be held in Houston, Texas from September 28–October 1, 2022.
