LITB - Earnings call transcript Q2 2024 | LightInTheBox Holding Co., Ltd.

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Operator

Hello, ladies and gentlemen. Thank you for standing by for LightInTheBox's Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Today's conference call is being recorded. I will now turn the call over to your host, Ms. Jenny Cai.

Please go ahead, Jenny.

Jenny Cai

operator. you, Thank welcome Call. and Second XXXX Quarter Hello, to Conference Earnings everyone, LightInTheBox's

The Newswire at released and were company's results earnings via on company's are the services IR website ir.lightinthebox.com. available today earlier

LightInTheBox today Yuan Liu, Ms. Chief Chief On the Officer. Ye, call are Jian and Jun Ms. He, and Officer; Mr. Financial Growth CEO; Chairman Wenyu from

will Mr. followed by developments, He and strategies recent results. provide will financial Ye an go who company's its overview of the over Ms.

questions. remarks, prepared open we'll call to our Following the

proceed, that safe materially forward-looking provisions expectations. current Securities note we subject statements and that made XXXX. of Private to concern Before discussion may are uncertainties of may please today's U.S. forward-looking the Act under harbor Litigation differ cause from company's statements risks to These actual the Reform the results

factors statements, the that includes assume obligation that the LightInTheBox's unaudited measures. refer update please cause any Securities release and well company could forward-looking note Please GAAP measures, call press materially Exchange filed conference as the results to except in those law. differ with any applicable forward-looking financial financial understand this Commission. The To to not the as and of from statements, earnings also company's XX-F Form to unaudited discussions non-GAAP under required as does

earnings Please a reconciliation refer measures which release, unaudited company's to measures. GAAP of to the contains press the the audited non-GAAP

turn go to over and to call like the ahead. Please I'd Mr. Now LightInTheBox's He. Chairman CEO,

Jian He

XXXX good conference and Thank Good morning, second for evening, everyone. earnings our you call today. joining quarter

continuing in XXXX top high competition the of our e-commerce challenging intensified market, line. and weigh on second with acquisition was one, a to quarter costs the global traffic The

[indiscernible] in last first million in prioritize we adjustments of from of effectively, this quarter to quarter XXXX, [ second quarter of for year $X.X prior However, year and ] income period of the proved net loss year. the profitability same the a first the strategical made resulting the

[indiscernible] under in strong performance. determination this bottom pleased line see to our off distribution are We our paying

development. Meanwhile, product refine sustain [indiscernible] competitive to evolving our to the our continue environment and we and high-quality differential strategy. proactively drive elevate this momentum quality

focus competitive [indiscernible] Our in identify the brand explore operations on key potential advantages define our strengthening loyal markets strict precisely and customers values target localized to strengthen better customer breakthroughs strategic to incorporate we and space. our remains our

progress on We due further you product course. are we updating making in and development are in certain lines,

And global We are the encouraged of strategies we to optimization our by down these in double market. and far. initiatives, dynamic profitability the of results product core on thus intend light

remain services localized our At experience loyalty. and our the Operational upgrade the top and time, operations our profitability to recognition our and we differentiate to to in build and will our brand near priority sales midterm. as well customer expand enhancement efficiency the products, same efforts will as

As development always, high-quality committed long-term sustainable delivering stakeholders. value and we to are all to driving

I to through to now hand over Yuan go Jun results. our the call over financial

Yuan Jun Ye

Good Thank Mr. you, and He. evening, everyone. good morning,

all of present Before our in U.S. Please terms. today we that stated, dollar are financials a detailed otherwise unless we discussion start note the financials.

year-over-year the by industry. e-commerce the million, for quarter, the quarter. financial decreased In our me let Now performance total in global to to share due revenues XX% competition intense our second the primarily $XX

compared sales. in line with gross year, the $XX last the same of in was in in Our quarter profit XXXX the of second million million quarter with $XXX decrease

XX.X% this the mainly in gross year, period our upgrades advantages. and margin last well-received by our improved quarter to supply-chain from same However, XX.X% driven product

decrease from mainly operational enhance attributable year-over-year also to million ] decrease expenses by overall [ to revenue Our $XX our in The last [ while year. ] decreased to $XXX in from same benefiting period total million efficiencies. the the XX% operating of efforts was

year-over-year same million. G&A the quarter the second to Selling expenses year-over-year in G&A XX% fulfillment of expenses by expenses by to R&D were with by $X quarter decreased to $X XXXX million of as XX% $XX million expenses. last decreased marketing part in million. year. decreased of year-over-year Specifically, $X and $X XX% compared expenses million

our level as high in investment we essential AI efficiencies. R&D and product and at a differentiation view advancing maintained We operational relatively as R&D for

our loss profitable the to bottom Moving with of last recorded year. quarter million turned compared the line. second in We million We quarter. same in $X.X income of $X.X a net of

$X.X second was income of EBITDA of XXXX. quarter a million with an of million the adjusted $X.X Our compared loss in

dedicated gross was attributable which improvement, Profitability driven product management in efforts. mainly the was cost and margin to our upgrades turn by

our execute to further and continue also refining while will our we products ahead, enhanced profitability strategy services. Looking customer

We'll remarks. questions happy take prepared our concludes to now. some This be

please Operator, continue.

Operator

the [Operator now, company turn call questions the back remarks. I'd Instructions] for no As over to there closing to like are

Jenny Cai

you again today. us Thank once joining for

If you to or our on website please contact feel have questions, Communications. LightInTheBox's through contact Investor a Have Relations free day. great further provided information the Financial Piacente

Yuan Jun Ye

you. Thank

Operator

Thank for today. you That conclude conference does participating. for our

disconnect. now may You

LightInTheBox Holding (LITB) 2 Aug 242024 Q2 Earnings call transcript