SINGAPORE, Nov. 28,
2023 /PRNewswire/ -- LightInTheBox Holding
Co., Ltd. (NYSE: LITB) ("LightInTheBox" or the "Company"), an
apparel e-commerce retailer that ships products to consumers
worldwide, today announced its unaudited financial results for the
third quarter ended September 30,
2023.
Third Quarter and First Nine Months
2023 Financial Highlights
|
|
|
|
Three
Months Ended
|
|
|
Year-over-
|
|
|
Nine
Months Ended
|
|
|
Year-over-
|
|
In millions,
|
|
September 30,
|
|
|
September 30,
|
|
|
Year
%
|
|
|
September 30,
|
|
|
September 30,
|
|
|
Year
%
|
|
except
percentages
|
|
2022
|
|
|
2023
|
|
|
Change
|
|
|
2022
|
|
|
2023
|
|
|
Change
|
|
Total
revenues
|
|
$
|
121.0
|
|
|
$
|
154.3
|
|
|
|
27.5
|
%
|
|
$
|
347.2
|
|
|
$
|
493.9
|
|
42.3
|
%
|
|
- Apparel
sales
|
|
$
|
99.6
|
|
|
$
|
127.3
|
|
|
|
27.8
|
%
|
|
$
|
275.6
|
|
|
$
|
409.7
|
|
48.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apparel sales/total
revenues
|
|
|
82.3
|
%
|
|
|
82.5
|
%
|
|
|
0.2
|
ppts
|
|
|
79.4
|
%
|
|
|
83.0
|
%
|
3.6
|
ppts
|
|
Gross margin
|
|
|
57.9
|
%
|
|
|
59.5
|
%
|
|
|
1.6
|
ppts
|
|
|
54.9
|
%
|
|
|
57.6
|
%
|
2.7
|
ppts
|
|
Net (loss) /
income
|
|
$
|
(0.4)
|
|
|
$
|
0.1
|
|
|
|
|
|
|
$
|
(8.3)
|
|
|
$
|
(5.3)
|
|
|
|
|
Adjusted
EBITDA
|
|
$
|
0.4
|
|
|
$
|
0.8
|
|
|
|
|
|
|
$
|
(5.7)
|
|
|
$
|
(3.0)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of
September 30,
|
|
|
As of
September 30
|
|
|
|
|
In millions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2022
|
|
|
2023
|
|
|
|
|
Cash, cash equivalents
and restricted cash
|
|
|
|
|
|
|
|
|
$
|
57.0
|
|
|
$
|
80.0
|
|
|
|
|
Mr. Jian He, Chairman and CEO of LightInTheBox, commented,
"Amid the evolving macro environment, we continued to execute our
core strategy with focus on efficiency and profitability
improvement. Our total revenues reached $154
million, led by apparel sales of $127
million. Notably, our bottom line turned positive this
quarter, driven by improving operating leverage and prudent cost
management. Furthermore, our solid fundamentals and cash position
continued to support our efficient business operations and
high-quality development.
"During the quarter, we remained dedicated to offering high
value-for-money products along with a pleasant and convenient
online shopping experience. With our effective branding strategies,
advanced technologies, operational acumen and keen understanding of
the global e-commerce market dynamics, we are well positioned in
the competitive landscape. Moving forward, enhancing operational
efficiency and pursuing profitable growth will remain our top
priorities as we strive to create sustainable, long-term value for
all of our stakeholders," Mr. He concluded.
Third Quarter 2023 Financial Results
Total revenues increased by 27.5% year-over-year to
$154.3 million from $121.0 million in the same quarter of 2022. Sales
from apparel increased by 27.8% to $127.3
million in the third quarter of 2023, compared with
$99.6 million in the same quarter of
2022. Revenues from apparel represented 82.5% of total revenues in
the third quarter of 2023 and 82.3% in the same quarter of
2022.
Total cost of revenues was $62.5
million in the third quarter of 2023, compared with
$51.0 million in the same quarter of
2022.
Gross profit in the third quarter of 2023 was
$91.9 million, compared with
$70.0 million in the same quarter of
2022. Gross margin was 59.5% in the third quarter of 2023, compared
with 57.9% in the same quarter of 2022.
Total operating expenses in the third quarter of 2023
were $91.8 million, compared with
$70.5 million in the same quarter of
2022.
- Fulfillment expenses in the third quarter of 2023 were
$8.3 million, compared with
$7.1 million in the same quarter of
2022. As a percentage of total revenues, fulfillment expenses were
5.4% in the third quarter of 2023, compared with 5.9% in the same
quarter of 2022 and 5.2% in the second quarter of 2023.
- Selling and marketing expenses in the third quarter of 2023
were $73.8 million, compared with
$53.1 million in the same quarter of
2022. As a percentage of total revenues, selling and marketing
expenses were 47.8% in the third quarter of 2023, compared with
43.9% in the same quarter of 2022 and 49.0% in the second quarter
of 2023.
- G&A expenses in the third quarter of 2023 were $10.1 million, compared with $10.3 million in the same quarter of 2022. As a
percentage of total revenues, G&A expenses were 6.5% in the
third quarter of 2023, compared with 8.5% in the same quarter of
2022 and 4.3% in the second quarter of 2023. As part of G&A
expenses, R&D expenses in the third quarter of 2023 were
$5.2 million, compared with
$4.8 million in the same quarter of
2022 and $5.1 million in the second
quarter of 2023.
Income from operations was $0.02
million in the third quarter of 2023, compared with loss
from operations of $0.5 million in
the same quarter of 2022.
Net income was $0.1 million
in the third quarter of 2023, compared with net loss of
$0.4 million in the same quarter of
2022.
Net income per American Depository Share ("ADS") was
$0.00 in the third quarter of 2023,
compared with net loss per ADS of $0.00 in the same quarter of 2022. Each ADS
represents two ordinary shares. The diluted net income per ADS in
the third quarter of 2023 was $0.00,
compared with net loss per ADS of $0.00 in the same quarter of 2022.
In the third quarter of 2023, the Company's basic weighted
average number of ADSs used in computing the net income per ADS was
113,075,481.
Adjusted EBITDA was $0.8
million in the third quarter of 2023, compared with
$0.4 million in the same quarter of
2022.
As of September 30, 2023, the
Company had cash and cash equivalents and restricted cash of
$80.0 million, compared with
$57.0 million as of September 30, 2022.
First Nine Months of 2023 Financial Results
Total revenues increased by 42.3% year-over-year to
$493.9 million from $347.2 million in the same period of 2022. Sales
from apparel increased by 48.7% to $409.7
million in the first nine months of 2023, compared with
$275.6 million in the same period of
2022. Revenues from apparel represented 83.0% of total revenues in
the first nine months of 2023 and 79.4% in the same period of
2022.
Total cost of revenues was $209.3
million in the first nine months of 2023, compared with
$156.5 million in the same period of
2022.
Gross profit in the first nine months of 2023 was
$284.5 million, compared with
$190.7 million in the same period of
2022. Gross margin was 57.6% in the first nine months of 2023,
compared with 54.9% in the same period of 2022.
Total operating expenses in the first nine months of 2023
were $290.1 million, compared with
$200.0 million in the same period of
2022.
- Fulfillment expenses in the first nine months of 2023 were
$26.9 million, compared with
$21.8 million in the same period of
2022. As a percentage of total revenues, fulfillment expenses were
5.4% in the first nine months of 2023, compared with 6.3% in the
same period of 2022.
- Selling and marketing expenses in the first nine months of 2023
were $236.9 million, compared with
$150.4 million in the same period of
2022. As a percentage of total revenues, selling and marketing
expenses were 48.0% for the first nine months of 2023, compared
with 43.3% in the same period of 2022.
- G&A expenses in the first nine months of 2023 were
$27.3 million, compared with
$28.0 million in the same period of
2022. As a percentage of total revenues, G&A expenses were 5.5%
for the first nine months of 2023, compared with 8.1% in the same
period of 2022. Included in G&A expenses, R&D expenses in
the first nine months of 2023 were $15.5
million, compared with $14.1
million in the same period of 2022.
Loss from operations was $5.5
million in the first nine months of 2023, compared with
$9.3 million in the same period of
2022.
Net loss was $5.3 million
in the first nine months of 2023, compared with $8.3 million in the same period of 2022.
Net loss per American Depository Share ("ADS") was
$0.05 in the first nine months of
2023, compared with $0.07 in the same
period of 2022. Each ADS represents two ordinary shares. The
diluted net loss per ADS for the first nine months of 2023 was
$0.05, compared with $0.07 in the same period of 2022.
In the first nine months of 2023, the Company's basic weighted
average number of ADSs used in computing the net loss per ADS was
113,257,419.
Adjusted EBITDA was negative $3.0
million in the first nine months of 2023, compared with
negative $5.7 million in the same
period of 2022.
Share Repurchase Program
On June 27, 2023, the Company's
board of directors authorized a share repurchase program under
which the Company may repurchase up to $10
million of its ordinary shares in the form of ADSs no later
than December 31, 2023. As of
November 24, 2023, the Company has
repurchased 1.35 million ADSs with a total aggregate value of
approximately $1.8 million.
Business Outlook
For the fourth quarter of 2023, based on current information
available to the Company and business seasonality, the Company
expects net revenues to be between $130
million and $145 million.
Non-GAAP Financial Measure
In evaluating the business, the Company considers and uses a
non-GAAP measure, Adjusted EBITDA, as a supplemental measure to
review and assess operating performance. The presentation of this
non-GAAP financial measure is not intended to be considered in
isolation or as a substitute for the financial information prepared
and presented in accordance with accounting principles generally
accepted in the United States of
America ("U.S. GAAP"). The Company's non-GAAP financial
measure excludes share-based compensation expenses, depreciation
and amortization expenses, interest income, interest expenses and
income tax expense.
The Company presents this non-GAAP financial measure because it
is used by management to evaluate operating performance and
formulate business plans. The Company believes that the non-GAAP
financial measure helps identify underlying trends in its business.
The Company also believes that the non-GAAP financial measure could
provide further information about the Company's results of
operations and enhance the overall understanding of the Company's
past performance and future prospects.
The non-GAAP financial measure is not defined under U.S. GAAP
and is not presented in accordance with U.S. GAAP. The non-GAAP
financial measure has limitations as an analytical tool. The
Company's non-GAAP financial measure does not reflect all items of
income and expenses that affect the Company's operations and does
not represent the residual cash flow available for discretionary
expenditures. Further, the non-GAAP measure may differ from the
non-GAAP information used by other companies, including peer
companies, and therefore their comparability may be limited. The
Company compensates for the limitations by reconciling the non-GAAP
financial measure to the nearest U.S. GAAP performance measure, all
of which should be considered when evaluating performance. The
Company encourages you to review the Company's financial
information in its entirety and not rely on a single financial
measure.
For more information on the non-GAAP financial measure, please
see the table captioned "Unaudited Reconciliations of GAAP and
Non-GAAP Result" set forth at the end of this press release.
Conference Call
The Company's management will hold an earnings conference call
at 8:00 a.m. Eastern Time on November 28, 2023
(9:00 p.m. Hong Kong/Singapore Time on the same day).
Preregistration Information
Participants can register for the conference call by going to
https://s1.c-conf.com/diamondpass/10034694-cqmwxe.html. Upon
registration, participants will receive dial-in numbers, an event
passcode, and a unique access PIN.
To join the conference, simply dial the number in the calendar
invite you receive after preregistering, enter the event passcode
followed by your unique access PIN, and you will be connected to
the conference instantly.
A telephone replay will be available two hours after the
conclusion of the conference call through December 05, 2023. The dial-in details are:
|
US/Canada:
|
+1-855-883-1031
|
|
Singapore:
|
800-101-3223
|
|
Hong Kong,
China:
|
800-930-639
|
|
Replay PIN:
|
10034694
|
Additionally, a live and archived webcast of the conference call
will be available on the Company's Investor Relations website at
http://ir.lightinthebox.com.
About LightInTheBox Holding Co., Ltd.
LightInTheBox is an apparel e-commerce retailer that ships
products to consumers worldwide. With a focus on serving its
middle-aged and senior customers, LightInTheBox leverages its
global supply chain and logistics networks, along with its in-house
R&D and design capabilities to offer a wide selection of
comfortable, aesthetically pleasing and visually interesting
apparels that bring fresh joy to customers. LightInTheBox operates
its business through
www.lightinthebox.com, www.miniinthebox.com, www.ezbuy.sg
and other websites as well as mobile applications, which are
available in over 20 major languages and over 140 countries and
regions. The Company is headquartered in Singapore, with additional offices in
California, Shanghai and Beijing.
For more information, please visit
www.lightinthebox.com.
Investor Relations Contact
Investor Relations
LightInTheBox Holding Co., Ltd.
Email: ir@lightinthebox.com
Jenny Cai
Piacente Financial Communications
Email: lightinthebox@tpg-ir.com
Brandi Piacente
Piacente Financial Communications
Tel: +1-212-481-2050
Email: lightinthebox@tpg-ir.com
Forward-Looking Statements
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "potential," "continue," "ongoing,"
"targets" and similar statements. Among other things, statements
that are not historical facts, including statements about
LightInTheBox's beliefs and expectations, the business outlook and
quotations from management in this announcement, as well as
LightInTheBox's strategic and operational plans, are or contain
forward-looking statements.
LightInTheBox may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission (the "SEC"), in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Forward-looking statements
involve inherent risks and uncertainties. A number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement, including but not limited to the
following: LightInTheBox's goals and strategies; LightInTheBox's
future business development, results of operations and financial
condition; the expected growth of the global online retail market;
LightInTheBox's ability to attract customers and further enhance
customer experience and product offerings; LightInTheBox's ability
to strengthen its supply chain efficiency and optimize its
logistics network; LightInTheBox's expectations regarding demand
for and market acceptance of its products; competition;
fluctuations in general economic and business conditions and
assumptions underlying or related to any of the foregoing. Further
information regarding these and other risks is included in
LightInTheBox's filings with the SEC. All information provided in
this press release and in the attachments is as of the date of this
press release, and LightInTheBox does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law.
LightInTheBox
Holding Co., Ltd.
|
Unaudited Condensed
Consolidated Balance Sheets
|
(U.S. dollars in
thousands, or otherwise noted)
|
|
|
|
|
|
|
|
|
|
As of December 31,
|
|
|
As of Sep 30,
|
|
|
|
2022
|
|
|
2023
|
|
ASSETS
|
|
|
|
|
|
|
|
|
Current
Assets
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
88,575
|
|
|
|
75,474
|
|
Restricted
cash
|
|
|
5,993
|
|
|
|
4,541
|
|
Accounts receivable,
net of allowance for credit losses
|
|
|
695
|
|
|
|
2,113
|
|
Inventories
|
|
|
14,260
|
|
|
|
7,349
|
|
Prepaid expenses and
other current assets
|
|
|
6,452
|
|
|
|
13,099
|
|
Total current
assets
|
|
|
115,975
|
|
|
|
102,576
|
|
Property and equipment,
net
|
|
|
2,946
|
|
|
|
2,803
|
|
Intangible assets,
net
|
|
|
5,630
|
|
|
|
3,936
|
|
Goodwill
|
|
|
28,177
|
|
|
|
26,675
|
|
Operating lease
right-of-use assets
|
|
|
10,874
|
|
|
|
7,557
|
|
Long-term rental
deposits
|
|
|
1,211
|
|
|
|
1,250
|
|
TOTAL ASSETS
|
|
|
164,813
|
|
|
|
144,797
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY
/ (DEFICIT)
|
|
|
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
|
26,518
|
|
|
|
23,366
|
|
Advance from
customers
|
|
|
32,241
|
|
|
|
21,333
|
|
Operating lease
liabilities
|
|
|
4,993
|
|
|
|
5,210
|
|
Accrued expenses and
other current liabilities
|
|
|
90,357
|
|
|
|
96,155
|
|
Total current
liabilities
|
|
|
154,109
|
|
|
|
146,064
|
|
|
|
|
|
|
|
|
|
|
Operating lease
liabilities
|
|
|
6,576
|
|
|
|
2,766
|
|
Long-term
payable
|
|
|
34
|
|
|
|
-
|
|
Deferred tax
liabilities
|
|
|
111
|
|
|
|
149
|
|
Unrecognized tax
benefits
|
|
|
107
|
|
|
|
107
|
|
TOTAL
LIABILITIES
|
|
|
160,937
|
|
|
|
149,086
|
|
|
|
|
|
|
|
|
|
|
EQUITY /
(DEFICIT)
|
|
|
|
|
|
|
|
|
Ordinary
shares
|
|
|
17
|
|
|
|
17
|
|
Additional paid-in
capital
|
|
|
282,722
|
|
|
|
282,811
|
|
Treasury
shares
|
|
|
(28,615)
|
|
|
|
(29,101)
|
|
Accumulated other
comprehensive loss
|
|
|
(1,024)
|
|
|
|
(2,961)
|
|
Accumulated
deficit
|
|
|
(249,224)
|
|
|
|
(255,055)
|
|
TOTAL EQUITY /
(DEFICIT)
|
|
|
3,876
|
|
|
|
(4,289)
|
|
TOTAL LIABILITIES AND
EQUITY / (DEFICIT)
|
|
|
164,813
|
|
|
|
144,797
|
|
LightInTheBox
Holding Co., Ltd.
|
Unaudited Condensed
Consolidated Statements of Operations
|
(U.S. dollars in
thousands, except per share data, or otherwise
noted)
|
|
|
|
Three
Months Ended
|
|
|
Nine
Months Ended
|
|
|
|
Sep 30,
|
|
|
Sep 30,
|
|
|
Sep 30,
|
|
|
Sep 30,
|
|
|
|
2022
|
|
|
2023
|
|
|
2022
|
|
|
2023
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
sales
|
|
|
117,980
|
|
|
|
152,005
|
|
|
|
339,151
|
|
|
|
486,335
|
|
Services and
others
|
|
|
3,047
|
|
|
|
2,319
|
|
|
|
7,999
|
|
|
|
7,537
|
|
Total
revenues
|
|
|
121,027
|
|
|
|
154,324
|
|
|
|
347,150
|
|
|
|
493,872
|
|
Cost of
revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product
sales
|
|
|
(49,570)
|
|
|
|
(62,049)
|
|
|
|
(152,854)
|
|
|
|
(207,367)
|
|
Services and
others
|
|
|
(1,437)
|
|
|
|
(420)
|
|
|
|
(3,604)
|
|
|
|
(1,958)
|
|
Total Cost of
revenues
|
|
|
(51,007)
|
|
|
|
(62,469)
|
|
|
|
(156,458)
|
|
|
|
(209,325)
|
|
Gross profit
|
|
|
70,020
|
|
|
|
91,855
|
|
|
|
190,692
|
|
|
|
284,547
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fulfillment
|
|
|
(7,116)
|
|
|
|
(8,324)
|
|
|
|
(21,754)
|
|
|
|
(26,866)
|
|
Selling and
marketing
|
|
|
(53,100)
|
|
|
|
(73,759)
|
|
|
|
(150,357)
|
|
|
|
(236,909)
|
|
General and
administrative
|
|
|
(10,315)
|
|
|
|
(10,087)
|
|
|
|
(28,042)
|
|
|
|
(27,320)
|
|
Other operating
income
|
|
|
39
|
|
|
|
331
|
|
|
|
131
|
|
|
|
1,008
|
|
Total operating
expenses
|
|
|
(70,492)
|
|
|
|
(91,839)
|
|
|
|
(200,022)
|
|
|
|
(290,087)
|
|
(Loss) / income
operations
|
|
|
(472)
|
|
|
|
16
|
|
|
|
(9,330)
|
|
|
|
(5,540)
|
|
Interest
income
|
|
|
20
|
|
|
|
61
|
|
|
|
37
|
|
|
|
234
|
|
Interest
expense
|
|
|
(1)
|
|
|
|
(1)
|
|
|
|
(4)
|
|
|
|
(3)
|
|
Other income,
net
|
|
|
45
|
|
|
|
13
|
|
|
|
990
|
|
|
|
33
|
|
Total other
income
|
|
|
64
|
|
|
|
73
|
|
|
|
1,023
|
|
|
|
264
|
|
(Loss) / income before
income taxes
|
|
|
(408)
|
|
|
|
89
|
|
|
|
(8,307)
|
|
|
|
(5,276)
|
|
Income tax
expense
|
|
|
-
|
|
|
|
-
|
|
|
|
(9)
|
|
|
|
(48)
|
|
Net (loss) /
income
|
|
|
(408)
|
|
|
|
89
|
|
|
|
(8,316)
|
|
|
|
(5,324)
|
|
Net (loss) / income
attributable to LightInTheBox
Holding Co., Ltd.
|
|
|
(408)
|
|
|
|
89
|
|
|
|
(8,316)
|
|
|
|
(5,324)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
numbers of shares used in
calculating (loss) / income per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
|
226,241,837
|
|
|
|
226,150,962
|
|
|
|
226,154,680
|
|
|
|
226,514,838
|
|
—Diluted
|
|
|
226,241,837
|
|
|
|
226,150,962
|
|
|
|
226,154,680
|
|
|
|
226,514,838
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) / income per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
|
(0.00)
|
|
|
|
0.00
|
|
|
|
(0.04)
|
|
|
|
(0.02)
|
|
—Diluted
|
|
|
(0.00)
|
|
|
|
0.00
|
|
|
|
(0.04)
|
|
|
|
(0.02)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) /
income per ADS ( 2 ordinary shares equal
to 1 ADS )
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic
|
|
|
(0.00)
|
|
|
|
0.00
|
|
|
|
(0.07)
|
|
|
|
(0.05)
|
|
—Diluted
|
|
|
(0.00)
|
|
|
|
0.00
|
|
|
|
(0.07)
|
|
|
|
(0.05)
|
|
LightInTheBox
Holding Co., Ltd.
|
Unaudited
Reconciliations of GAAP and Non-GAAP Results
|
(U.S. dollars in
thousands, or otherwise noted)
|
|
|
|
|
|
|
|
|
|
Three
Months Ended
|
|
|
Nine
Months Ended
|
|
|
|
Sep 30,
|
|
|
Sep 30,
|
|
|
Sep 30,
|
|
|
Sep 30,
|
|
|
|
2022
|
|
|
2023
|
|
|
2022
|
|
|
2023
|
|
Net (loss) /
income
|
|
|
(408)
|
|
|
|
89
|
|
|
|
(8,316)
|
|
|
|
(5,324)
|
|
Less: Interest
income
|
|
|
20
|
|
|
|
61
|
|
|
|
37
|
|
|
|
234
|
|
Interest
expense
|
|
|
(1)
|
|
|
|
(1)
|
|
|
|
(4)
|
|
|
|
(3)
|
|
Income tax
expense
|
|
|
-
|
|
|
|
-
|
|
|
|
(9)
|
|
|
|
(48)
|
|
Depreciation and
amortization
|
|
|
(854)
|
|
|
|
(766)
|
|
|
|
(2,568)
|
|
|
|
(2,421)
|
|
EBITDA
|
|
|
427
|
|
|
|
795
|
|
|
|
(5,772)
|
|
|
|
(3,086)
|
|
Less: Share-based
compensation
|
|
|
(9)
|
|
|
|
(6)
|
|
|
|
(75)
|
|
|
|
(89)
|
|
Adjusted
EBITDA*
|
|
|
436
|
|
|
|
801
|
|
|
|
(5,697)
|
|
|
|
(2,997)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Adjusted EBITDA
represents net (loss) / income before share-based compensation expense, interest income,
interest expense, income tax expense and depreciation and
amortization expenses.
|
View original
content:https://www.prnewswire.com/news-releases/lightinthebox-reports-third-quarter-2023-financial-results-301998970.html
SOURCE LightInTheBox Holding Co., Ltd.