1Stdibs.Com Inc

1stdibs reported second-quarter gross merchandise value of $96 million, up 7% year over year and above the high end of its guidance range, with revenue of $23.3 million and adjusted EBITDA margin of approximately 6%. CEO David Rosenblatt said the company now expects GMV to grow for full-year 2026 and in the fourth quarter, despite a challenging demand environment and a U.S. housing market near a 30-year low. CFO Thomas Etergino noted that sales and marketing expenses fell 34% to $5.4 million, while technology development spending rose 7% to $6.3 million, and the company repurchased 2.4 million shares for $11.1 million during the quarter. The company guided third-quarter GMV of $89 million to $94 million, revenue of $22 million to $22.9 million, and adjusted EBITDA margin between negative 1% and positive 2%. 1stdibs also said it no longer expects positive free cash flow for 2026 due to an accounting reclassification related to payment processor agreements, though the underlying business is generating cash ahead of original expectations.

1stdibs.com reported second-quarter results that exceeded its guidance, with gross merchandise value rising 7% year over year to $96 million and revenue increasing 5% to $23.3 million. Adjusted EBITDA reached $1.3 million, or a roughly 6% margin, supported by lower operating expenses and improved conversion and order values. The company raised its full-year GMV outlook and now expects year-over-year GMV growth for 2026, as well as continued revenue growth and positive adjusted EBITDA for the year. Active buyers declined 10% year over year to approximately 57,700, reflecting a deliberate reduction in marketing spending, while cash fell to $67.7 million after share repurchases and an accounting reclassification, making positive free cash flow unlikely for the year.