1Stdibs.Com (DIBS) investor relations material

Executive summary

• Q3 GMV rose 4% to $92.6M, revenue increased 5% to $23.1M, and orders grew 1%, returning to YoY growth for the first time since Q4 2024.

• GAAP net loss narrowed to $1.249M from $3.506M; Adjusted EBITDA reached $1.030M, its fourth consecutive positive quarter.

• Bradford Shellhammer becomes CEO and David Rosenblatt Executive Chair on Jan. 1, 2027.

Financial highlights

• Q3 net revenue was $23.094M versus $21.972M a year earlier; gross profit was $16.9M, up 3%.

• Operating expenses fell 9% to $19.2M; sales and marketing declined 33% to $5.3M while technology development rose 8% to $6.4M.

• Adjusted EBITDA was $1.030M, or 4.5% margin, versus negative $243K and negative 1.1% a year earlier.

• 9M revenue rose to $68.8M from $66.7M; net loss narrowed to $4.4M from $12.6M and Adjusted EBITDA was $2.9M versus a $3.7M loss.

• Q3 positive free cash flow was $2.9M; cash, equivalents and short-term investments totaled $69.0M at Sept. 30, 2026.

Outlook and guidance

• Q4 guidance: GMV $89M–$95M, revenue $22.2M–$23.4M, and Adjusted EBITDA margin 1%–4%.

• Q4 outlook assumes faster order growth than Q3 and continued product-led funnel improvement; low-single-digit quarter-to-date AOV decline may persist.

• FY2026 framework calls for GMV and revenue growth, 24%–25% take rate, 72%–74% gross margin and positive Adjusted EBITDA, assuming stable macro conditions.

• Operating losses are expected to continue as growth investments proceed; current liquidity is expected to fund operations and capex for at least 12 months.