LightInTheBox Holding Co., Ltd. (NYSE:LITB) Q4 2023 Earnings Call Transcript

LightInTheBox Holding Co., Ltd. (NYSE:LITB) Q4 2023 Earnings Call Transcript March 25, 2024

LightInTheBox Holding Co., Ltd.  isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Hello, ladies and gentlemen. Thank you for standing by for LightInTheBox's Fourth Quarter and Full Year 2023 Earnings Conference Call. At this time, participants are in listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded. I will now turn the conference call over to your host, Ms. Jenny Cai. Please go ahead, Jenny.

Jenny Cai: Thank you, operator. Hello, everyone, and welcome to LightInTheBox fourth quarter and full year 2023 earnings conference call. The company's earnings results were released via newswire services earlier today and are available on the company's IR website at ir.lightinthebox.com. On the call from LightInTheBox today are Mr. Jian He, Chairman and CEO; Ms. Yuanjun Ye, Chief Financial Officer; and Ms. Wenyu Liu, Chief Growth Officer. Mr. He will provide an overview of the company's strategies and recent developments, followed by Ms. Ye, who will go over its financial results. Following our prepared remarks, we'll open the call to questions. Before we proceed, please note that today's discussion may contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.

An international e-commerce package with a variety of products being sent to customers.

These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from the company's current expectations. To understand the factors that could cause results to materially differ from those in forward-looking statements, please refer to the company's Form 20-F filed with the Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements, except as required under applicable law. Please also note that LightInTheBox earnings press release and this conference call include a discussion of unaudited GAAP financial measures as well as unaudited non-GAAP financial measures. Please refer to the company's earnings press release, which contains a reconciliation of the unaudited non-GAAP measures to the unaudited GAAP measures.

Now, I'd like to turn the call over to LightInTheBox' Chairman and CEO, Mr. He. Please go ahead.

Jian He: Good morning and good evening, everyone. Thank you for joining our fourth quarter and full year 2023 earnings conference call today. In 2023, as we strategically focused on high-quality development, we delivered hard-won results amid the challenging macro environment and increasingly competitive landscape. Notably, our full year revenue reached $629 million, up 25% year-over-year. Apparel remained our strategically core category and drove our sales, accounting for over 80% of total revenues. Thanks to our continuous efforts and the investment in our technologies and data analytics capabilities, we gained a great understanding of evolving contribution patterns, enabling us to better align our products, services and marketing strategies with consumer preferences and demands.

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