Customer Metrics - Active customers increased to 4.05 million in Q3 2024, up from 3.55 million in Q3 2023, representing a growth of 14.1%[73] - The brand portfolio targets Millennial and Gen Z consumers, focusing on social media for customer engagement and brand awareness[71] - The company aims to enhance customer retention through loyalty programs and effective marketing strategies[85] Financial Performance - Net loss for Q3 2024 was $5.44 million, a significant improvement from a net loss of $70.41 million in Q3 2023[76] - Adjusted EBITDA for Q3 2024 was $8.21 million, up from $4.70 million in Q3 2023, indicating a positive trend in operational performance[76] - Net sales for the three months ended September 30, 2024, increased by $9.1 million, or 6%, compared to the same period in 2023, driven by a 6% increase in the number of processed orders[92] - Gross profit for the three months ended September 30, 2024, increased by $9.0 million, or 11%, with a gross margin of 58%, up from 55% in the same period in 2023[94] - Net sales for the nine months ended September 30, 2024, increased by $18.3 million, or 5%, compared to the same period in 2023, driven by an 8% increase in the number of processed orders[101] - Gross profit increased by $14.7 million, or 7%, for the nine months ended September 30, 2024, with a gross margin of 57% compared to 56% in 2023[103] Expenses and Costs - Selling expenses increased by $5.2 million, or 14%, for the three months ended September 30, 2024, primarily due to the opening of additional stores[95] - General and administrative expenses rose by $3.2 million, or 13%, for the three months ended September 30, 2024, attributed to a $2.0 million accrual for a legal matter[97] - Selling expenses rose by $10.3 million, or 10%, for the nine months ended September 30, 2024, accounting for 28% of net sales[104] - General and administrative expenses increased by $1.7 million, or 2%, for the nine months ended September 30, 2024, representing 18% of net sales[106] - Cost of sales as a percentage of net sales decreased from 45% in September 2023 to 42% in September 2024, despite a flat dollar amount[93] Cash Flow and Liquidity - Free Cash Flow for the nine months ended September 30, 2024, was $(14.03) million, a decrease of $26.6 million compared to $12.58 million in the same period of 2023[81] - As of September 30, 2024, cash and cash equivalents totaled $23.1 million, with liquidity supported by a revolving line of credit and term loan[111] - The company owed a combined $91.2 million in term loan and accordion borrowings, with $21.5 million borrowed under the revolving line of credit as of September 30, 2024[112] - Net cash used in operating activities decreased by $24.4 million for the nine months ended September 30, 2024, primarily due to increased inventory purchases[116] - Net cash provided by financing activities increased by $54.5 million for the nine months ended September 30, 2024, mainly due to $18.2 million in net proceeds from the senior secured credit facility[118] Shareholder Actions - The board of directors approved a Share Repurchase Program, authorizing the repurchase of up to $2.0 million of common stock, followed by an additional $3.0 million in 2023[119] - During the three months ended September 30, 2024, the company repurchased 3,380 shares for $0.1 million at an average price of $24.66 per share[119] - For the nine months ended September 30, 2024, the company repurchased 120,579 shares for $1.3 million at an average price of $10.57 per share[119] Risks and Market Conditions - Macroeconomic factors such as inflation and elevated interest rates are identified as potential risks that could impact consumer spending and operational results[82] - (Provision for) benefit from income taxes changed by $4.2 million, or 110%, for the nine months ended September 30, 2024, reflecting an increase in the valuation allowance on deferred tax assets[109] - The benefit from income taxes changed by $3.2 million, or 97%, for the three months ended September 30, 2024, due to an increase in the valuation allowance on deferred tax assets in Australia[100] Accounting and Reporting - There have been no significant changes in critical accounting estimates from those reported in the 2023 Form 10-K[120] - As a "smaller reporting company," the company is not required to provide quantitative and qualitative disclosures about market risk[121]

Financial Performance - Net sales increased 6.4% to $149.9 million in Q3 2024, compared to $140.8 million in Q3 2023, with U.S. net sales up 19.5% to $100 million[2] - Adjusted EBITDA rose to $8.2 million, a 75% increase from $4.7 million in Q3 2023, representing 5.5% of net sales[5] - Gross margin improved to 58.0%, up from 55.4% in Q3 2023, driven by more full-price selling[5] - The net loss for Q3 2024 was $5.4 million, significantly improved from a net loss of $70.4 million in Q3 2023[15][18] - Adjusted EBITDA for the nine months ended September 30, 2024, was $17.1 million, compared to $12.5 million for the same period in 2023[18] - Adjusted EBITDA for the three months ended September 30, 2024, was $8.21 million, with an adjusted EBITDA margin of 5.5%[23] - Net loss for the three months ended September 30, 2024, was $5.44 million, compared to a net loss of $70.41 million in the same period last year[23] - Net loss per share, as adjusted, was $(0.37) for the three months ended September 30, 2024[26] Customer Metrics - Active customer growth was 14.1% on a trailing twelve-month basis compared to Q3 2023[1] - Active customers increased to 4.05 million, a 14.1% growth year-over-year[19] - Total orders increased to 1.84 million, reflecting a 6.4% increase year-over-year[19] - Average order value (AOV) remained stable at $81 for the three months ended September 30, 2024, with a slight decline of 2.5% for the nine months[19] Expenses and Liabilities - Selling expenses increased to $41.9 million, or 27.9% of net sales, compared to 26.0% in Q3 2023[5] - Marketing expenses were $19.3 million, or 12.9% of net sales, slightly down from 13.1% in Q3 2023[5] - Operating expenses decreased to $89.0 million in Q3 2024 from $148.3 million in Q3 2023, primarily due to the absence of goodwill impairment[15] - Total liabilities rose to $267.2 million as of September 30, 2024, compared to $213.1 million at the end of 2023[16] Future Outlook - The company expects full fiscal 2024 net sales between $567 million and $572 million, and adjusted EBITDA between $22 million and $23 million[7] - The company expects long-term growth in adjusted EBITDA margin as it scales operations[22] Inventory and Cash Position - Cash and cash equivalents at the end of Q3 totaled $23.1 million, with inventory at $106.0 million[6] - Cash and cash equivalents at the end of Q3 2024 were $23.1 million, an increase from $21.9 million at the end of 2023[16][17] - Total current assets increased to $156.3 million as of September 30, 2024, up from $135.7 million at the end of 2023[16] Expansion Plans - Princess Polly plans to open its first NYC store in Soho in early 2025, following the opening of three stores in San Diego, Scottsdale, and Boston[1] - Petal & Pup expanded into 40 Nordstrom stores based on its success on Nordstrom.com[2]

NEW YORK, Nov. 7, 2024 /PRNewswire/ -- Viva Entertainment Group, Inc (OTC: OTTV), a developer of OTT systems through which television services are delivered using the Internet, is pleased to announce it has signed a deal with urban celebrity boxing for all their events.Calling all dogs and their humans! DogDaddy.org is proud to announce The First International Livestream Channel for Dogs and Dog Lovers! DogdaddyTv is now featured on the international livestream channel, Vivalivetv.com, channel 17. Our suppo ...

Release Date: August 07, 2024For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Net sales exceeded expectations with a year-over-year growth of more than 9%, driven by strong performance in the US market.The US business saw significant acceleration with net sales growth of over 19%, contributing to 64% of total net sales.Gross margin improved to 57.7%, up 80 basis points from the previous year, aided by reduced airfreight costs and strong ful ...

a.k.a. Brands (AKA) shares rallied 12% in the last trading session to close at $20.65. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.5% loss over the past four weeks.A.k.a. Brands’ strategic focus on expanding its geographic footprint, particularly in the U.S. bodes well. Its omni-channel strategy, which integrates both digital platforms and physical store expansions, is enhancing brand visibility and cu ...

NEW YORK, NY, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Swifty Global (OTC: DRCR), a company with ambitious growth plans, has signed a binding Letter of Intent to be acquired by Signing Day Sports (NYSE: SGN). Signing Day Sports has initiated a strategic, aggressive buy-and-build acquisition strategy aimed at scaling its business while driving profitable, cashflow-positive growth. Swifty, which generates strong net income, operates with significant cash flow, and is debt-free, is well-positioned to transition onto ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead ...

The Retail-Wholesale group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is a.k.a. Brands (AKA) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.a.k.a. Brands is one of 211 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead ...

For those looking to find strong Retail-Wholesale stocks, it is prudent to search for companies in the group that are outperforming their peers. a.k.a. Brands (AKA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.a.k.a. Brands is one of 209 companies in the Retail-Wholesale group. The Retail-Wholesale group currently sits at #9 within the Zack ...