CarParts.com (PRTS) Q1 2025 Earnings Call May 13, 2025 05:00 PM ET Speaker0 Good afternoon. At this time, all participants will be in listen only mode. Please note this call is being recorded. I would now like to pass the conference over to our host, Ryan Lockwood, Chief Financial Officer. Please go ahead. Speaker1 Hello, everyone, and thank you for joining us for the CarParts.com First Quarter 20 20 5 Conference Call. Joining me today is David Mignon, Chief Executive Officer. Before I turn it over to David ...

Financial Performance - Net sales for Q1 2025 decreased by 11% to $147.4 million compared to $166.3 million in Q1 2024[6] - Gross profit was $47.3 million, down from $53.9 million, with a gross margin of 32.1%, a decrease of 30 basis points[7] - Net loss for the quarter was ($15.3) million, or ($0.27) per share, compared to a net loss of ($6.5) million, or ($0.11) per share in the prior year[5] - Adjusted EBITDA for Q1 2025 was ($6.2) million, a decline from $1.1 million in Q1 2024, primarily due to soft consumer demand[9] - Operating expenses increased to $62.5 million, representing 42.4% of net sales, up from 36.3% in the year-ago quarter[8] Cash and Assets - The company reported a cash balance of $38.5 million with no revolver debt as of March 29, 2025[9] - Cash and cash equivalents at the end of the period were $38,532 thousand, an increase of $2,135 thousand from $36,397 thousand at the beginning of the period[28] - Total current assets increased to $149,239 thousand as of March 29, 2025, up from $138,868 thousand on December 28, 2024, representing an increase of 8.8%[26] - Accounts receivable increased to $10,211 thousand as of March 29, 2025, from $6,098 thousand on December 28, 2024, marking a growth of 67.7%[26] - Inventory levels increased to $94,207 thousand as of March 29, 2025, compared to $90,353 thousand on December 28, 2024, which is an increase of 4.8%[26] Liabilities and Equity - Total liabilities rose to $143,685 thousand as of March 29, 2025, compared to $125,399 thousand on December 28, 2024, reflecting an increase of 14.6%[26] - Total stockholders' equity decreased to $72,770 thousand as of March 29, 2025, down from $85,175 thousand on December 28, 2024, a decline of 14.5%[26] Operational Highlights - Cumulative net downloads of the mobile app reached approximately 900,000, with over 5,000 CarParts+ and Roadside Assistance Memberships sold year to date[5] - For the first 6 weeks of Q2 2025, revenues increased by double digits year-over-year despite lower marketing spend[4] - Management emphasized the importance of targeting higher-margin sales and diversifying customer acquisition strategies to improve profitability[3] - The company is currently evaluating various strategic alternatives and is not providing guidance for 2025[10] Other Financial Metrics - Net loss for the thirteen weeks ended March 29, 2025, was $15,283 thousand, compared to a net loss of $6,478 thousand for the same period in 2024, indicating a deterioration of 135.5%[28] - Net cash provided by operating activities for the thirteen weeks ended March 29, 2025, was $5,505 thousand, up from $3,652 thousand in the same period of 2024, representing a growth of 50.7%[28] - The company reported depreciation and amortization expense of $5,482 thousand for the thirteen weeks ended March 29, 2025, compared to $4,025 thousand in the same period of 2024, an increase of 36.3%[28] - Cash paid during the period for interest was $256 thousand, a decrease from $300 thousand in the same period of 2024, indicating a reduction of 14.7%[28]

TORRANCE, Calif., May 13, 2025 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS), a leading eCommerce provider of automotive parts and accessories, and a premier destination for vehicle repair and maintenance needs, is reporting results for the first quarter ended March 29, 2025. First Quarter 2025 Summary vs. Year-Ago Quarter Net sales decreased 11% to $147.4 million. Gross profit of $47.3 million vs. $53.9 million, with gross margin of 32.1%. Net loss was ($15.3) million, or ($0.27) per share, compared to ...

Company Overview - CarParts.com, Inc. is a technology-driven eCommerce company that offers over 1 million high-quality automotive parts and accessories [3] - The company has been operating for over 25 years and has established itself as a premier destination for drivers seeking repair and maintenance solutions [3] - CarParts.com focuses on customer satisfaction and affordability, simplifying the automotive repair process through a user-friendly website and app [3] Upcoming Financial Results - CarParts.com will hold a conference call on May 13, 2025, at 2:00 p.m. Pacific Time to discuss its financial results for the first quarter ended March 29, 2025 [1] - The financial results will be reported in a press release prior to the call [1] - CEO David Meniane and CFO Ryan Lockwood will host the conference call, which will include a question and answer period [2] Accessing the Conference Call - Participants can pre-register for the conference call using a provided link, and will receive a confirmation email with dial-in details [2] - The live webcast of the event can be accessed on the company's investor relations page [2] - A replay of the webcast will be archived on the company's website for future access [2] Company Mission - CarParts.com is united by a vision of empowering drivers along their journey [4] - The company is headquartered in Torrance, California [4]

CarParts.com (PRTS) Q4 2024 Earnings Call March 25, 2025 10:29 PM ET Company Participants Tina Mirfarsi - General ManagerDavid Meniane - CEORyan Lockwood - CFO Operator Good afternoon. At this time, all participants will be in a listen only mode. Please note this call is being recorded. I would now like to pass the conference over to our host, Tina Mierfarsee, Senior Vice President of Global Communications and Brand. Please go ahead. Tina Mirfarsi Hello, everyone, and thank you for joining us for the CarPar ...

Financial Performance - For fiscal year 2024, the company reported net sales of $588,846, a decrease of 12.9% from $675,729 in fiscal year 2023[195]. - The company incurred a net loss of $40,601 in fiscal year 2024, compared to a net loss of $8,223 in fiscal year 2023[195]. - Adjusted EBITDA for fiscal year 2024 was $(7,055), a significant decline from $19,687 in fiscal year 2023[197]. - Gross profit decreased by 14.2% to $196,739 in fiscal year 2024, with gross margin dropping to 33.4% from 33.9% in fiscal year 2023[198][214]. - Operating expenses for fiscal year 2024 were $237,374, a slight decrease of 0.8% from $239,287 in fiscal year 2023, but as a percentage of net sales, it increased to 40.3%[215]. - Total other income, net decreased by $1,502, or 83.3%, for fiscal year 2024 compared to fiscal year 2023, primarily due to a decrease in interest income from a lower cash balance[216]. - Income tax provision increased by $122, or 84.1%, from $145 in fiscal year 2023 to $267 in fiscal year 2024[217]. Cash Flow and Debt Management - Cash and cash equivalents decreased by $14,554, from $50,951 as of December 30, 2023, to $36,397 as of December 28, 2024[219]. - Net cash provided by operating activities decreased from $50,001 in fiscal year 2023 to $10,338 in fiscal year 2024[222]. - Net cash used in investing activities increased from $11,901 in fiscal year 2023 to $20,557 in fiscal year 2024, primarily due to additions to property and equipment[224]. - Total debt decreased from $16,635 as of December 30, 2023, to $12,313 as of December 28, 2024[226]. - The Company maintains a revolving Credit Facility with a principal amount of up to $75,000, which can be increased to $150,000 under certain conditions[227]. - As of December 28, 2024, the Company had no outstanding balance under its revolving loan[228]. - The Company believes existing cash, cash equivalents, and available financing will be sufficient to meet operational cash needs for at least the next twelve months[235]. - The Company is subject to interest rate risk related to its Credit Facility, with a SOFR-based interest rate of 6.46% as of December 28, 2024[230]. Market Trends and Opportunities - The average age of U.S. light vehicles reached a record high of 12.6 years in 2024, indicating a growing demand for aftermarket parts[193]. - The U.S. Auto Care Association projects that online sales of auto parts and accessories will exceed $23 billion by 2026, highlighting a significant market opportunity[194]. - The company offers approximately 1,544,000 SKUs, providing a comprehensive selection for consumers compared to traditional brick-and-mortar stores[192]. Strategic Initiatives - The increase in operating expenses is attributed to investments in brand and marketing, as well as one-time costs related to the new Las Vegas distribution center[215]. - The company’s re-pricing strategy aims to focus on higher value customers, which has impacted net sales and gross profit[198].

CarParts.com, Inc. (NASDAQ:PRTS) Q4 2024 Earnings Conference Call March 25, 2025 5:00 PM ET Company Participants Tina Mirfarsi - Senior Vice President of Global Communications and Brand David Meniane - Chief Executive Officer Ryan Lockwood - Chief Financial Officer Operator Good afternoon. At this time, all participants will be in a listen-only mode. Please note this call is being recorded. I would now like to pass the conference over to our host, Tina Mirfarsi, Senior Vice President of Global Communication ...

CarParts.com Reports Fiscal Year 2024 Results TORRANCE, Calif. – March 25th, 2025 – CarParts.com, Inc. (NASDAQ: PRTS), a leading eCommerce provider of automotive parts and accessories, and a premier destination for vehicle repair and maintenance needs, is reporting results for the fourth quarter and fiscal year ended December 28, 2024. Fiscal Year 2024Summary vs. Fiscal Year 2023 Fourth Quarter 2024Summary vs.Year-Ago Quarter Management Commentary "2024 was an important year in the ongoing transformation of ...

Core Insights - CarParts.com, Inc. reported a significant decline in net sales for fiscal year 2024, totaling $588.8 million, down 13% from $675.7 million in fiscal year 2023, primarily due to soft consumer demand and pressures in specific product categories [5][9] - The company experienced a net loss of $40.6 million in fiscal year 2024, compared to a net loss of $8.2 million in fiscal year 2023, indicating a worsening financial performance [7][26] - Management emphasized a strategic focus on improving gross and net margins, enhancing operational efficiency, and achieving sustainable growth through various initiatives [3][4] Fiscal Year 2024 Financial Results - Net sales decreased to $588.8 million from $675.7 million, a decline of 13% [5][9] - Gross profit was $196.7 million, down from $229.4 million, with a gross margin of 33.4%, a decrease of 50 basis points [5][10] - Total operating expenses were $237.4 million, slightly down from $239.3 million, but operating expenses as a percentage of net sales increased to 40.3% from 35.4% [6][26] - Adjusted EBITDA for the year was ($7.1) million, a significant drop from $19.7 million in the previous year [7][9] Fourth Quarter 2024 Financial Results - Net sales for the fourth quarter were $133.5 million, down 15% from the same quarter last year [8][9] - Gross profit for the fourth quarter was $43.4 million, compared to $51.6 million, with a gross margin of 32.5% [10][9] - The net loss for the fourth quarter was ($15.4) million, compared to a net loss of ($6.1) million in the year-ago quarter [10][9] - Adjusted EBITDA for the fourth quarter was ($6.8) million, down from $1.0 million in the previous year [11][9] Strategic Initiatives and Outlook - The company is focusing on non-paid marketing initiatives, enhancing site conversion, and expanding product assortment to address economic challenges faced by lower-income consumers [4][3] - CarParts.com has launched a new website with AI-based search solutions and machine learning product recommendations, along with a paid membership program, CarParts+, which includes roadside assistance [9][10] - The company is currently evaluating various strategic alternatives and has not provided guidance for 2025 [12]

Core Insights - The event "Fix-It Day" organized by CarParts.com aimed to provide essential vehicle repairs to individuals in need, emphasizing the importance of reliable transportation in the community [2][4] - Over 38 vehicles received critical repairs, including brake replacements and battery changes, with more than 250 parts donated by CarParts.com and its partners [2][3] - The event highlighted the collaboration between businesses and nonprofits, showcasing how such partnerships can create significant community impact [4][5] Company Overview - CarParts.com is a technology-driven eCommerce company that offers over 1 million high-quality automotive parts and accessories, operating for over 25 years [5][6] - The company focuses on customer satisfaction and affordability, aiming to simplify the automotive repair process and ensure swift delivery of parts [6][7] - CarParts.com is headquartered in Torrance, California, and is committed to empowering drivers along their journey [6][7] Community Engagement - Fix-It Day provided participants with complimentary CarParts+ Memberships, which included exclusive discounts and roadside assistance [3] - Participants also received care packages with essential car maintenance items, enhancing their ability to maintain their vehicles [3] - The event received recognition from local officials, reinforcing the commitment of CarParts.com and its partners to serve the community [4]