Record-Breaking Revenue and Growth
In Q1 2025, GMV increased by 9% and revenue increased by 11% year-over-year, aligning with the company's goal of high-single-digit to low-double-digit growth. Active buyers also increased by 7% on a trailing 12-month basis.
Improved Profitability and Margins
Adjusted EBITDA increased to a positive $4 million, an increase of $6 million versus Q1 of last year. Gross margin improved by 40 basis points year-over-year.
New Consignor Growth
The company delivered its highest number of new consignors in over two years, with innovative strategies contributing significantly to new consignor acquisition.
Successful Strategic Initiatives
The growth playbook initiatives, including sales, marketing, and stores, drove healthy supply trends. The Real Partners and Get Paid Now programs are generating substantial supply growth.
Operational Efficiency with AI
The Athena AI-enabled product intake process reduces costs and improves efficiency, processing more than 10% of items with an estimated 20% reduction in processing times.