LightInTheBox Holding Co., Ltd. Q4 FY2025 earnings call

• CEO mentioned in 2025, the company delivered consecutive profitable quarters, regaining positive year-over-year revenue growth in Q1 2025 with 9% growth, and achieved regular net income. - Strategy of transforming into a global consumer lifestyle company by offering differential products for festivals, holidays, etc., and launching three proprietary apparel brands since 2024, with branded apparel business growing over 143%. - Adopted AI to drive operational efficiency in product design, marketing, customer service, etc., resulting in 58% workforce optimization since 2023. - CFO mentioned fourth quarter total revenues $63 million, up 9% year-over-year; gross profit $39 million, up 16% year-over-year; gross margin 63% in Q4. Fourth quarter operating expenses increased 8% to $36 million, net income $3.3 million. Full year 2025 total revenues $224 million, down 12% year-over-year; gross profit $146 million, down 5% year-over-year; gross margin 65%, highest since 2013; operating expenses $138 million, down 11% year-over-year; net income $8.3 million.

In 2025, the branded apparel business grew over 143% and accounted for 17% of total revenue, up from 6% in 2024. Fourth quarter total revenues were $63 million, up 9% year-over-year. Fourth quarter gross profit was $39 million, up 16% year-over-year, with gross margin improving to 63% from 59% year-over-year. Full year 2025 total revenues decreased 12% year over year to $224 million. Full year gross profit was $146 million, down 5% year over year, but gross margin increased to 65% from 60% year over year, the highest since 2013. Fourth quarter net income was $3.3 million, compared to $0.5 million in the same quarter last year. Full year 2025 net income was $8.3 million, compared with a loss of $2.5 million in 2024.

• Management remains confident in delivering overall revenue and growth in 2026. - Have not officially given guidance yet, but are deliberating until probably the first quarter.

Q: Do you expect this next year to be a growth year?

A: Yeah, next year we, you know, remain quite confident that we will deliver another year of growth, not only on profit, but also on revenue. We have not officially given the guidance yet, but we are deliberating that until probably the first quarter.

Q: can you describe your shareholder base? What percentage do insiders hold, and are there any other large investors?

A: Yeah, I think together, insiders and the directors... hold roughly 70%. So it's only 30% roughly is in the public float. And the total share base is roughly 18 million ADS. Each ADS is about 12 common shares.