Earnings call transcript Q2 2023

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Operator

Greetings, and welcome to the Kidpik Second Quarter 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Ezra Dabah. Ezra. you, Thank

begin. You may

Ezra Dabah

operator, today. and for you, you, thank us joining Thank everyone,

We today's on everyone will welcome are to pleased to XXXX provide review and call an business. update Kidpik’s QX we where

by take with begin our our highlights, which, review We a Officer, will review, will a financial Accounting through. financial of business followed us Chief Jill,

our like the most for to earnings quarter were, start I'd consistent by first with second sharing that our quarter. part,

plan take During XX%. inventory to the our quarter, to second gross about reduce to while of action our continued maintaining levels execute we margin

are our support which We focused in inventory on flow cash from increasing the will current believe term. sales we needs short level, our

our service believe that In enhance and season, opportunity the team's the confidence have preparing We elevate the Kidpik Park. and shopping Central backdrop the feel vividly experience options. wearing of combination app taken we efforts back-to-school our of against our and to to brand showcase the while feel further of subscription the marketing our for of the to look children and unique

made our tech advancements enriched user experience. by and the technology have team, our With brand we website

at continued active including we member addition, In a to shop members. Kidpik recently exclusive XX% launched commitment our value discount our for benefits,

base outfits head-to-toe We subscription been marketplace deliver our great Our believe active by advantage and subscriber second the a year-to-date. the stylized clothing kids has to value. we stable competitive quarter and over within hold a at ability personalize

unpaid for conversions. paid We continue opportunities to explore channels to new and generate other

shop boxes. In have quarter, the period over expand Kidpik us our opportunity grown sales subscription own the XX% we proprietary year. same our Having second by last to brand our e-commerce gives the beyond

to platform. on for that our sales it. increases technology drives view kidpik.com We shop.kidpik.com back-to-school experienced and Walmart e-commerce also demand our and collection the you to visit experience invite We products and the

turn the the Jill? detail will financial over to the quarter. I that, for highlights With call Jill to

Jill Pasechnick

driven a million, box and revenue X.X% in was decrease decrease Thank of The Ezra. decrease a $X.X quarter-over-quarter. a primarily year-over-year subscription of you, QX by was decrease X.X% revenue sales. in

revenue $X.X of channel, QX XX.X% at by sales Looking a million, were quarter-over-quarter. decrease subscription approximately

Third-party to increased the $XXX,XXX, at for of quarter. website XX.X% website by lower a XX.X% quarter-over-quarter. $XXX,XXX sales Online sales were decrease

Moving Active subscription by year-over-year. XX.X% boxes for the by to or recurring revenue $X.X subscriptions quarter. to decreased million

subscriptions of New XX.X% increased to by subscriptions XX% first million, total to decreased which $X.X Total XX.X% revenue. million. $X.X box of represents by

for to quarter XX second Shipped the Turning decrease last for margin XXX,XXX. XX.X%, second XX% of quarter XX.X% points. quarter a versus to rate decreased basis by for Keep gross the second XX.X% year. the for margin. year-over-year was the Gross was items quarter

a loss line, or On of was net to $X.X loss approximately $X.XX million the $X.XX per second or last per share compared million of of net for the the $X loss bottom quarter for a a quarter share loss year.

adjusted $X.X quarter the year. non-GAAP, to $X.X for the was negative to EBITDA Speaking last quarter million compared for second million negative

into XXXX. XX-week cash inventory we position, arrangements. Now period order other was the $X.X flow. We [$X.X] at year. last the flow for end used $XXX,XXX and financing significantly reduced (ph) purchases may compared of In to improve have and to million enter or our cash new advance a approximately to balance Cash of the the million compared to cash at quarter end of sheet operating million in $X.X cash the

total $XX assets, current current As total million July $X.X million. X, in capital and working XXXX, million we in $X of had liabilities of

Q&A. back Operator? With that, the to will for turn I operator the call

Operator

any closing There comments. you. at are this management Instructions] to like would time. [Operator back no over to questions I hand floor Thank the for

Ezra Dabah

Thank continued Kidpik. you joining all you support Thank and you, us Thank in for today. interest your for operator.

and health Thank ir@kidpik.com. at questions any additional all, great at have Wishing or please us questions day, contact you. always. you happiness everybody any If a

Operator

This concludes today's conference.

disconnect at may lines Thank You participation. time. your this for you your

Ezra Dabah

Bye. you. Thank

Kidpik (PIKM) 15 Aug 232023 Q2 Earnings call transcript