The shares of luxury online retailer Cettire Ltd have soared by 13% to $3.79, indicating a positive investor response to the company’s latest quarterly results.
Cettire’s Share Price Skyrockets
The company’s impressive quarterly update has fueled a rush for its shares, highlighted by a 95% increase in gross revenue to $256.7 million for the quarter ending 31 March compared to the prior year. Additionally, Cettire reported an 88% increase in its sales revenue, reaching $191 million.
- Gross revenue growth: 95% increase to $256.7 million.
- Sales revenue increase: 88% to $191 million.
- Active customers: Up by 84% to ~644,000.
- Average order value: Grew by 12% to $832.
This growth is supported by a surge in active customers and a higher average order value. The company has also reported substantial growth in both its US business and inventory levels.
Earnings Performance
Despite less impressive earnings with an unaudited adjusted EBITDA of $6 million for the quarter, the company’s CEO points to seasonal trends and a strong improvement in year-on-year profit trends.
With a seasonal low point behind them and a focus on revenue growth and profitability, Cettire remains optimistic about its market penetration and performance going forward.
As Cettire exhibits explosive sales growth in Q3, shareholders are rewarded with a notable share price increase of 13%. This momentum reflects the company’s robust market strategy and customer growth, signaling future potential in the luxury e-commerce space.