Record GMV Growth in B2B Marketplace
The B2B marketplace saw a 56% year-over-year GMV growth on a trailing 12-month basis, reaching $1.4 billion. This growth was driven by the company's SFR business model, providing flexibility and efficiencies for large parcel merchandise.
Strong European Market Performance
The European market experienced close to 80% year-over-year growth, highlighting successful international expansion efforts.
Launch of Wonder App and BaaS Program
The Wonder App received positive feedback, and the BaaS program welcomed Scott Living, enhancing value and platform alignment with growth strategy.
Improved Product Margins
Product margins improved by 4% sequentially to 27.4% due to better costing of goods sold and reduced ground delivery fees.