In its Q3 2023 earnings call, CarParts.com announced its 15th consecutive quarter of year-over-year growth, with revenues reaching $167 million, marking a 1% increase from the previous year. Despite a slight dip in gross profit due to higher outbound transportation costs and a change in product mix, the company maintained a strong financial stance, ending the quarter with $67 million in cash and no revolver debt. The call also highlighted the company’s strategic priorities and revealed its confidence in reaching $1 billion in revenue without additional capital. Key takeaways from the call: CarParts.com reported an adjusted EBITDA of $3 million, down from $6.3 million due to higher outbound freight costs and increased performance marketing spend. The company repurchased 245,000 shares during the quarter. The company’s strategic priorities include e-commerce fundamentals, digital transformation, assortment and catalog, marketing and customer experience, innovation, and supply chain and logistics. CarParts.com announced the successful launch of its mobile app and the return of JC Whitney, underlining its focus on improving delivery speed and optimizing its supply chain and logistics operations. The company’s GAAP net loss for the quarter was $2.5 million, compared to a net loss of $0.9 million in the prior year. CarParts.com […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
