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 IncQ2 GMV and revenue beat guidance, with adjusted EBITDA margin positive and share repurchases, though free cash flow outlook revised due to accounting reclassification.
