NEW YORK — With net revenue, gross profit and gross margin numbers up for the second quarter ended June 30, luxury online marketplace 1stDibs saw its net loss shrink year-over-year.
Net revenue was $23.3 million, an increase of 5% year-over-year compared with $22.1 million last year. Gross profit was $17.2 million, up 8% from $15.9 million last year, and gross margin was 73.9%, compared with 71.8% in the year-ago period.
GAAP net loss was $1 million compared with a net loss of $4.3 million in the second quarter 2025. Non-GAAP adjusted EBITDA and adjusted EBITDA margin was $1.3 million and 5.6%, respectively, compared with a loss of $1.8 million and 7.9%, respectively, in the second quarter 2025.
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Cash, cash equivalents and short-term investments totaled $67.7 million as of the end of the quarter.
“The second quarter was a proof point for our product, our platform and our plan,” said David Rosenblatt, 1stDibs CEO. “GMV of $960 million came in above the high end of guidance, up 7%, our strongest growth rate since late 2024. We believe we gained market share in spite of having reduced sales and marketing spend, a combination that tells us our product roadmap is driving structural improvement in our competitive position.”
CFO Tom Etergino added, “The second quarter demonstrated exactly what our reengineered cost structure was designed to do. GMV and revenue both beat the high end of guidance, and adjusted EBITDA margin of approximately 6%, also well above our guidance range, improved over 13 percentage points vs. a year ago.
“The lower cost structure we built from 2022 through 2025 is converting revenue upside directly into margin expansion,” he added.
Other metrics for the period include: Gross Merchandise Value (GMV) at $96 million, an increase of 7% year-over-year; number of orders approximately 32,000, a decrease of 4% year-over-year; and active buyers was approximately 58,000, a decrease of 10% year-over-year.
For the third quarter, 1stDibs’ guidance is for GMV of $89 million to $94 million, net revenue of $22 million to $22.9 million, and non-GAAP adjusted EBITDA margin of (1%) to 2%.
