Reports Q3 revenue $164.8M, consensus $168.73M. On October 1 the Company had a cash balance of $16.7M, revolver debt of $5.0M and no outstanding trade letters of credit compared to no revolver debt, no outstanding trade LCs anda $18.1M cash balance at prior fiscal year-end January 1. "Q3 was another record for our company," said David Meniane, CEO of CarParts.com. "We are excited to continue building a trusted and disruptive platform where we can help our customers solve their auto repair and maintenance needs. Over one-third of our revenue comes from repeat customers and we are consistently growing our addressable market. We launched our Do-It-For-Me program on our website, called Get It Installed, and are one step closer to our goal of becoming the number one destination for our customers. One of our core strategic pillars is financial discipline. As evidenced by our record Q3 Adjusted EBITDA and ample liquidity, we feel confident that we do not need to raise capital at current valuations and can continue to self-fund growth for the foreseeable future."
Published first on TheFly
