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LightInTheBox Holding Co., Ltd. (LITB) Stock Experiences Minor Volatility After Stellar Q1 2021 Financial Reports Released

LightInTheBox Holding Co., Ltd. (LITB) stock prices were down by 3.33% at the end of the market day on May 28th, 2021, bringing the price down to USD$2.90 at the end of the trading day. Subsequent current market fluctuations saw the stock rise by 0.34%, bringing it up to USD$2.91.

Revenue Breakdown

The company reported USD$51.5 million in total revenues for the first quarter of the fiscal year 2020, while the same time period of the fiscal year reported USD$112 million. Revenues generated from product sales were USD$109.4 million for Q1 2021, up from the USD$49.9 million reported in the first quarter of the year prior. Revenues from services and other sources were up to USD$2.6 million, up from the USD$1.6 million reported in the same quarter of the fiscal year 2020. Revenues generated from the sales of apparel were up by 166% from USD$21.7 million in Q1 2020 to USD$57.6 million in Q1 2021.

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Costs of Revenues

The total cost of revenues was up significantly from USD$27.6 million reported in the first quarter of 2020 to USD$59.8 million in Q1 2021. The expenses associated with product sales came out to USD$59 million, up from the USD$26.9 million reported for the same time period of the previous fiscal year. Cost arising from service and other sources was up marginally from USD$0.7 million in Q1 2020 to USD$0.8 million in Q1 2021.

Gross Profit and Margin

Gross profit reported for the first quarter of 2021 was up to USD$52.3 million from the USD$23.9 million reported in the same quarter of the previous year. Gross margin was 46.6% in Q1 2021, up marginally from the 46.4% reported Q1 2020, with the difference arising from LITB’s continued efforts to optimize its supply chain and product mix.

Promising Guidance for Q2 2021

The company anticipates generating net revenues between USD$130 million to USD$145 million for the upcoming second quarter of the fiscal year 2021. This forecast is based on current information that is available to the company and seasonality. This guidance indicates an increase of anywhere between 14% and 27% as compared with net revenues reported in the second quarter of 2020. Seeing as personal protective equipment is no longer sold, the exclusion of its net revenue from previous reports results in year-over-year growth of 48% to 65% for Q2 2021.

Future Outlook for LITB

Having come out of the first quarter of the fiscal year 2021 with such stellar improvements across the board, LITB is poised to carry on this success through to the end of the year and beyond. Current and potential investors are hopeful that the company will leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.

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