LightInTheBox Holding (NYSE:LITB) held its first-quarter earnings conference call on Tuesday. Below is the complete transcript from the call.
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The full earnings call is available at https://edge.media-server.com/mmc/p/r6tevm4d/
<h2>Summary</h2>
LightInTheBox Holding reported its eighth consecutive profitable quarter with a record first quarter profit of $1.2 million, compared to $0.1 million in the same period last year.

The company achieved 11% year-over-year revenue growth, reaching $52 million, marking its second consecutive quarter of revenue growth.

Branded apparel business grew over 81% year-over-year, now accounting for 24% of total revenue, up from 15% in Q1 2025.

Gross profit was $34 million, up 10% year-over-year, with a stable gross margin of 65%.

Total operating expenses increased by 7% year-over-year, but as a percentage of revenue, they decreased from 65% to 63%.

<h2>Full Transcript</h2>
OPERATOR
Hello ladies and gentlemen, thank you for standing by for LightInTheBox Holding's first quarter 2026 earnings conference call. At this time, all participants are in a 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 call over to your host, Ms. Serena Huang. Please go ahead Serena.

Serena Huang (Moderator)
Thank you. Hello everyone and welcome to LightInTheBox Holding first quarter 2026 earnings conference call. The Company's earnings results were released via News File Services earlier today and are available on the company's IR website at ir.lightinthebox.com. On the call from LightInTheBox Holding today are Mr. Jianhe, CEO and Mr. Suhai Ji, CFO. Mr. He will provide an overview of the company's Q1 highlights followed by Mr. Ji who will go over its financial results. Following our prepared remarks, we will 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. 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 20F filed with the SEC. The company does not assume any obligation to update any forward looking statements except as required under applicable law. Please also note that Light in the Box earnings press release and this conference call include discussions 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 Holding CEO Mr. He, please go ahead.

Jianhe
Good morning and good evening everyone. Thank you for joining LightInTheBox Holding First Quarter 2026 Earnings Call we are pleased to report an exciting first quarter results. Continuing the tenured run from last year, we achieved our eighth consecutive profitable quarter and a record first quarter profit of 1.2 million since Q2 2022. This compared with just the growth of 0.1 million in the first quarter of last year. Please note that Q1 is typically our weakest period due to the seasonality of our business. Q2 picks up significantly as the season goes into spring and summer, Q3 may come down a little and Q4 picks up again to peak ahead of Christmas. We are also proud of the fact that Q1 marked our second consecutive quarter of year over year revenue growth, its revenues returning to double digit growth increasing by 11% to $52 million. Our branded apparel business continue to gain strong momentum, growing over 81% year over year and already accounting for 24% of total revenue, up from 15% in the first quarter of 2025. This result reflects continued successful execution of our strategy of evolving the LightInTheBox Holding online platform into a consumer lifestyle company by offering highly customized products that create deep emotional resonance for festivals, holidays and special occasions. Combined our brand Matrix strategy across women's fashion, golf apparel and light party dresses, they are driving stronger engagement in the customer loyalty. In summary, we had a very good head start for 2026. We sustained profitability, disciplined cost control and ongoing share repurchase program. We believe we are well positioned to pursue continued revenue and profit growth as well as greater shareholder value through the rest of 2026 is there. I will now hand the call over to Shuhai to go through our financial results.

Suhai Ji (Chief Financial Officer)
Thank you Mr. He. Good morning and good evening everyone. Before we go over our financials, please note that unless otherwise stated, all figures are presented in US dollars. As our CEO mentioned in his remarks, we delivered excellent first quarter results in 2026. In the first quarter our total revenues were 52 million, up 11% year over year. Compared to the year over year decrease in the first three quarters of last year. This marked our second consecutive top line growth. We have successfully engineered a sustained business turnaround not only on profit but also on revenues. The first quarter gross profit was 34 million, up 10% year over year. Gross margin remained relatively stable at 65%. Total operating expenses in the first quarter increased 7% year over year to 33 million, of which fulfillment expenses increased by 5% to $4 million. Reflecting the growth in top line revenues, selling and marketing expenses increased by 13% to $25 million, while general and administrative expenses decreased by 15% to $4 million. Total operating expenses as a percentage of revenue decreased from 65% to 63%. Our net income in the first quarter reached 1.2 million compared to just 0.1 million in the same quarter last year, marking a record first quarter profit since 2022. So overall we had a remarkable turnaround year in 2025 and are continuing the progress and momentum going into 2026. As reflected in our Q1 results. We remain confident that 2026 will be another successful record setting year. This concludes my remarks and we are now open to your questions. So operator. Please continue.

OPERATOR
Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you're on a speakerphone, please pick up a handset to ask your question. Once again, please press star one on your telephone if you wish to ask a question. We'll now pause a moment to allow for any questions to register. There are no questions at this time. I'll now hand back to Ms. Huang for closing remarks.

Serena Huang (Moderator)
Thank you once again for joining us today. If you have further questions, please feel free to contact Light in the Box Investor relations through the contact information provided on our website. Have a great day.

Disclaimer: This transcript is provided for informational purposes only. While we strive for accuracy, there may be errors or omissions in this automated transcription. For official company statements and financial information, please refer to the company's SEC filings and official press releases. Corporate participants' and analysts' statements reflect their views as of the date of this call and are subject to change without notice.

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LightInTheBox Holding (NYSE:LITB) reported its Q1 2026 results, achieving a record profit of $1.2 million, up from $0.1 million year-over-year. Revenue grew 11% to $52 million, marking the second consecutive quarter of growth. The branded apparel segment surged over 81%, now comprising 24% of total revenue. Gross profit reached $34 million with a stable margin of 65%. Operating expenses increased by 7%, but as a percentage of revenue, they decreased from 65% to 63%. The company continues to focus on profitability and shareholder value.

LightInTheBox Holding Reports Q1 2026 Results: Full Earnings Call Transcript