Revenue was up 27.0% during the quarter to $131.5M and the retailer’s active customer count increased 52.6% to 3.2M. Average order value was up 13.2% to $137
Higher shipping costs and a heightened level of returns impacted the bottom line during the quarter with gross margin doen 380 bps to 45.8% of sales and adjusted EBITDA down 16.8% to $14.8M.
“We remain confident in our long-term growth, and with our strong balance sheet, we are well positioned to fund our strategic initiatives and navigate the current volatility in the macro environment,” updated CEO David McCreight on the quarter.
Looking ahead, LVLU sees full-year revenue of $440M to $480M vs. $458M consensus and adjusted EBITDA of $35.0M to $45.0M. Capital expenditures of $4.5M to $6.0M are anticipated.
Shares of LVLU rallied 7.79% in after-hours trading to add to the 6.10% gain during the regular session.
Image and article originally from seekingalpha.com. Read the original article here.