LITB - Earnings call transcript Q2 2022 | LightInTheBox Holding Co., Ltd.

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Operator

Good day, everyone and welcome to the Second Quarter 2022 Earnings Conference Call for LightInTheBox Holding Co., Ltd. Today’s conference is being recorded. At this time, I would like to turn the call over to Mr. Rene Vanguestaine for opening remarks and introductions. Please go ahead.

Rene Vanguestaine

Andrea. you, Thank welcome call. and second XXXX quarter Hello, to conference earnings everyone LightInTheBox The today through released on were company’s results earnings earlier IR as the website and well Newswire. as PR company’s available are

Yuan over Growth developments, from the call go company’s overview who financial and Jian and Financial are On followed He They Ye, will Jun Liu, will will the follow. Chief Chief LightInTheBox Ye, Wenyu of recent by Mr. results. He, Ms. strategy Mr. be Q&A the CEO; and Ms. Officer. for available Ms. session an Officer; give will that all the

under Before results any forward-looking could required this Exchange I of to He. in refer the applicable those forward-looking factors to Safe Private proceed, the filed and He, of note are Harbor the update Securities remind you U.S. that that to may of risks Act differ I’d not point, from to differ Litigation as to law. understand please statements our Mr. uncertainties expectations. made to materially Mr. Safe Form actual do assume the call We discussions go like forward-looking materially Securities over today statements, we Commission. XX-F with that certain XXXX. cause statements, and To except the obligation any our the At like the statement. ahead. under cause from to current subject turn contain These Please would provisions Harbor may Reform to statements results forward-looking please

Jian He

of demand a resurgence $XXX the for Notably, exchange customer rates, We spending caused everyone you in today. the world foreign global narrowed execute COVID our conditions XXXX growth impact in results in strong we and quarter us million to the and many year-over-year [indiscernible] of in of the the despite to quarter-over-quarter economic product performance efficiency, QX. These financial a the track capabilities and XX% events. on parts including the to XXXX China, challenges from proven to our delivered Thanks, loss near And as significantly X% changes confidence Rene continue future. strategy the by the second over more and solid of operating in our team us unfavorable give and improved returned thank joining revenue demonstrated basis. our and mix

our Revenues XX% As to migrated we product up most category, a XX% consistently year-over-year with categories, increased mix XX% gross XX% total higher from margin representing year ago. from $XXX become apparel apparel to million, to compared ago. to year our a margin of overall revenues, lifting has popular XX% our

for us our now this. in through brand critical a to over to financial and the build be situation believe past to Jun coming the experience hand and spending Yuan to call quarters strategy our first with have the We times. supply managed a customer effective half the operational and improvements continue robust those chain and seen of supply various of the an Therefore, only believe given and will this I growth reflects of and we results. players some go economic to ready operations our can We improve efficiency chain in economic [indiscernible] our We difficult improves. XXXX. this to invest accelerate is in when logistics quarter stronger the these will

Yuan Jun Ye

Thank Mr. He. you,

for $XX in and in competitive both from Accordingly, quarter on total operational to as highly operating macroeconomic expenses by quarter million our of $XX continue million ago demonstrates a environment. Total efficiency. period. market our revenue million, the our even margin a $XXX challenging XX% of during efficient year-over-year, a Selling the from the compared against second from in quarter, total financial to the improved same with increase at though of a were XX% top apparel experience as percentage the XX% ago, year In expenses in quarter. This of of by margin we our revenue operating on XX% sequential to gross result Let in million. year from function investment is $XX our a expansion $XX remained as $XX second stable year-over-year long-term a managed grew a second fulfillment quarter, XX% representing revenue revenue G&A million Included Total as challenges total control loss X% same increased an expenses, up Despite year we million, million, XX% quarter the the with expenses to critical me of from R&D expenses also invest in sales. continuous apparels at and with to $XXX to basis. highlights narrow from higher for million a start $XXX total XXXX. the Revenues was X% to same a million. XX% basis on $X line XXXX. $X compared drive R&D ago marketing net million increase were shopping our to remained stable decreased the customers’

levels $XX million at $X Our with the of increase healthy end from year-end. million quarter, last an remained of cash the

of Session concludes entering year. our environment second At half this quarter, This remarks. With point, prepared questions. take are in third line our in the we the Question-and-Answer growth top confident Operator? we ready some the steady improvement the in to the of macro are

Operator

[Operator from first Matt Please question Lee will Thank Capital. come ahead. CRS of go Our [ph] you. Instructions]

Unidentified Analyst

Yes. for Good Thanks have there. morning. my that’s okay. question. taking if Actually, I Hi, two questions,

category your detail. just lot. second you Thanks. I well? you And whether was quite see marketing events, particularly these more some revenue world of little and on the mix mentioned whether maybe I question, you you elaborate or impacting conflict you in in terms that reasons I mix Europe bit regional whether expenses as of wondering the then that increased for in was first, could a So mentioned a events, the a on comment for And world wondering the could think

Yuan Jun Ye

your you Thank Okay. for question.

For see as European to record we the the events is events happening, the question, apparel as still in And North best-performing are well all some yes, and the in market. American still all. among but category growth first category, managed there world despite of terms challenges, markets

will investing second future. there keep our to we our But the for purchase having in we the and keep we – cut we that’s apparel only marketing some category. For able question to more near due customers, apparel as challenges in expenses, more more manage few some – expenses example, the are and are category be regarding marketing for and there question to completion, like, in to managed repeated world in a events, reasons investing and are

Unidentified Analyst

Okay, you. thank

Operator

to [Operator are I’ll Mr. Instructions] questions now it End Rene hand time. Vanguestaine remarks. Q&A this closing for further no back of There at

Rene Vanguestaine

providing Hello. We This support to our look Thank ongoing good forward months and of in of Have second with you. concludes and our XXXX your for ahead. earnings quarter LightInTheBox. weeks all. the business day, participation updates call. conference Thank you a you coming

Jian He

Thank you.

Operator

conclude our conference for today. you does now you That Thank disconnect. and for attending, may

Rene Vanguestaine	Investor Relations
Jian He	Chief Executive Officer
Yuan Jun Ye	Chief Financial Officer
Wenyu Liu	Chief Growth Officer

LightInTheBox Holding (LITB) 6 Sep 222022 Q2 Earnings call transcript