Revenue: As of FY2025 Q1, the actual value is USD 43.55 M.

EPS: As of FY2025 Q1, the actual value is USD -0.1.

Segment Revenue

• Total Revenue for the first quarter of 2025 was $43.5 million, a decrease of 18.7% year-over-year, impacted by lower repeat order volume and eCommerce platform migration disruptions.

Operational Metrics

• Net Loss was - $3.5 million, with a Net Loss margin of -8.1%, compared to a net loss of $3.4 million and a margin of -6.3% in the same period last year.
• Adjusted EBITDA was - $1.6 million, or -3.7% margin, compared to $1.9 million, or 3.5% margin, in the previous year.
• Gross Margin was 53.0%, down from 55.5% due to the elimination of certain customer fees and reduced benefits from sell-through of reserved inventory.
• Operating Expenses were $26.6 million, a reduction of 12.2% from $30.3 million, primarily due to lower stock-based compensation, depreciation, and fulfillment costs.

Cash Flow

• Operating Cash Flow was - $6.9 million, driven by increased working capital related to recent acquisitions and negative Net Income.
• Cash, Cash Equivalents, and Restricted Cash totaled $13.5 million as of March 31, 2025, down from $24.3 million as of December 31, 2024.

Unique Metrics

• Direct to Consumer (DTC) Total Orders were 622,000, a decrease of 20.0% year-over-year, influenced by lower advertising spend and eCommerce platform migration disruptions.
• DTC Active Customers totaled 678,000, a decrease of 16.0% year-over-year.
• DTC Net Revenue Per Order was $66.49, an increase of 0.3% year-over-year.
• Plastic Intensity improved to 0.99 pounds per $100 in net revenue from 1.08 pounds in the previous year.
• Impact of eCommerce Platform Transition: Estimated to have contributed a $2.0 to $3.0 million reduction to revenue in the first quarter.

Outlook / Guidance

• The Company expects first quarter revenue to be the lowest in 2025, with improvements through the second and third quarters, leading to slight year-over-year growth in the fourth quarter.
• Full-year 2025 revenue is anticipated to decline by mid-single-digit to low double-digit percentage points year-over-year.
• Adjusted EBITDA for the full year 2025 is expected to range from negative low single-digit millions to positive low single-digit millions.