LightInTheBox Reports First Quarter 2026 Financial Results
Rhea-AI Summary
LightInTheBox (NYSE:LITB) reported unaudited Q1 2026 results with total revenue of $52.0 million, up 11% year over year, ending prior quarterly declines in 2025. Gross profit reached $33.8 million with a 65.0% gross margin.
Net income was a record first-quarter $1.2 million, marking the eighth consecutive profitable quarter, while adjusted EBITDA rose to $1.5 million. Branded apparel revenue grew over 81% YoY, rising to 24% of total revenue. The ongoing share repurchase program allows buybacks up to $3.0 million, with 565,217 ADSs repurchased for about $1.3 million as of May 8, 2026.
AI-generated analysis. Not financial advice.
Positive
- Q1 2026 revenue $52.0 million, up 11% year over year
- Net income $1.2 million vs. $0.1 million in Q1 2025
- Eighth consecutive profitable quarter achieved
- Adjusted EBITDA increased to $1.5 million from $0.6 million
- Branded apparel revenue grew over 81% YoY to 24% of total revenue
- Share repurchase authorization increased to $3.0 million, $1.3 million already deployed
Negative
- Operating expenses rose to $32.7 million from $30.5 million year over year
- Selling and marketing expenses increased 12% YoY to $24.6 million
- Fulfillment expenses grew 5% YoY to $4.1 million
- Gross margin edged down to 65.0% from 65.2% year over year
News Market Reaction – LITB
On the day this news was published, LITB gained 5.49%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Several Consumer Cyclical/Internet Retail peers showed mixed moves (e.g., JL at +5.10%, VNCE at -10.13%), while the momentum scanner flags a broader sector move with a median peer change of -4.3%.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 24 | Earnings release | Positive | +7.5% | Q4 and 2025 results showing profitability turnaround and record annual income. |
| Nov 12 | Earnings release | Positive | -6.0% | Q3 2025 record net income and higher gross margin despite revenue decline. |
| Sep 09 | Earnings release | Positive | -10.6% | Q2 2025 fifth profitable quarter with higher net income and margins. |
| May 13 | Earnings release | Positive | -3.3% | Q1 2025 return to profitability with higher gross margin and lower opex. |
| Mar 25 | Earnings release | Positive | +4.8% | Q4 and 2024 results with improved margins and shift toward profitability. |
Earnings updates have often been fundamentally positive yet followed by mixed-to-negative short-term price reactions, with average same-tag moves of -1.52% and 3 of 5 prior earnings showing divergence.
Over the last several earnings cycles, LightInTheBox has pivoted toward profitability and margin expansion. Prior reports highlighted a profitability turnaround with Q4 2025 net income of $3.3M on $63.0M revenue, record Q3 2025 net income of $2.8M, and multiple consecutive profitable quarters. Revenues often declined year over year while gross margins improved into the mid‑60% range and share repurchases expanded. Today’s Q1 2026 results continue that theme of sustained profitability and branded apparel growth within this transformation strategy.
Historical Comparison
In the past five earnings announcements, LITB’s average next‑day move was -1.52%, with several positive reports met by muted or negative price reactions.
Earnings releases have traced a shift from revenue contraction toward sustained profitability, higher mid‑60% gross margins, growing branded apparel contribution, and ongoing share repurchases.
Market Pulse Summary
The stock moved +5.5% in the session following this news. A strong positive reaction aligns with the company’s improving fundamentals, including Q1 2026 net income of $1.2M and 11% revenue growth to $52.0M. Historically, earnings moves averaged -1.52%, with several positive reports followed by selling, so any outsized upside could face profit-taking. Investors have also seen ongoing buybacks of 565,217 ADSs, which may have supported sentiment but do not eliminate volatility.
Key Terms
adjusted EBITDA financial
AI-generated analysis. Not financial advice.
Revenues Return to Double-Digit Growth
Record First-Quarter Profit of
Eighth Consecutive Profitable Quarter
First Quarter 2026 Financial Highlights
- Total Revenues were
$52.0 million 11% increase year over year, making a clear turnaround and sustained recovery from the consecutive declines throughout the first three quarters of 2025. - Gross Profit was
$33.8 million $30.6 million - Gross Margin was
65.0% , compared with65.2% in the same quarter last year, which remained stable. - Operating Expenses were
$32.7 million $30.5 million - Fulfillment Expenses increased by
5% year over year to$4.1 million - Selling and Marketing Expenses increased by
12% year over year to$24.6 million - General and Administrative Expenses decreased by
15% year over year to$4.2 million $2.3 million
- Fulfillment Expenses increased by
- Net Income reached
$1.2 million $0.1 million - Adjusted EBITDA was
$1.5 million $0.6 million
"We are very pleased to report our eighth consecutive profitable quarter and a record first-quarter profit of
"These results reflect the continued progress of our transformation into a global consumer lifestyle company. By offering highly customized products that create deep emotional resonance for festivals, holidays, and special occasions, combined with our brand matrix strategy across women's fashion, golf apparel, and light party dresses, we are driving stronger engagement and customer loyalty. With sustained profitability, disciplined cost control, and an ongoing share repurchase program, we believe we are well positioned to pursue continued revenue and profit growth, as well as greater shareholder value throughout 2026." Mr. He concluded.
Share Repurchase Program
On March 31, 2025, the Company's board of directors authorized a share repurchase program under which the Company may repurchase up to
Conference Call
The Company will hold an earnings conference call to discuss the results at 8:00 a.m. Eastern Time May 12, 2026 (8:00 p.m.
Preregistration Information
Participants can register for the conference call by going to https://s1.c-conf.com/diamondpass/10054770-hu76t5.html. Upon registration, participants will receive dial-in numbers, an event passcode, and a unique access PIN.
To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the event passcode followed by your unique access PIN, and you will be connected to the conference instantly.
A telephone replay will be available two hours after the conclusion of the conference call through May 16, 2026. The dial-in details are:
US/Canada: +1-855-883-1031
Singapore: 800-101-3223
Replay PIN: 10053714
Additionally, a live and archived webcast of the conference call will be available on the Company's Investor Relations website at https://ir.ador.com.
About LightInTheBox Holding Co., Ltd.
Founded in 2007, LightInTheBox is a global direct-to-consumer (DTC) e-commerce company dedicated to delivering a joyful lifestyle to consumers worldwide. Leveraging AI-driven market insights and agile supply chain systems, it aims to capture consumer preferences and sentiment to offer differentiated products, driving consumer engagement through deep emotional resonance. LightInTheBox also adopts a brand matrix strategy by launching its own apparel brands such as Ador to further strengthen its position as a consumer lifestyle company. Additionally, LightInTheBox offers a comprehensive suite of services to e-commerce companies, including advertising, supply chain management, payment processing, order fulfillment, and shipping and delivery solutions.
For more information, please visit https://ir.ador.com.
Non-GAAP Financial Measure
In evaluating the business, the Company considers and uses a non-GAAP measure, Adjusted EBITDA, as a supplemental measure to review and assess operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in
The Company presents this non-GAAP financial measure because it is used by management to evaluate operating performance and formulate business plans. The Company believes that the non-GAAP financial measure helps identify underlying trends in its business. The Company also believes that the non-GAAP financial measure could provide further information about the Company's results of operations and enhance the overall understanding of the Company's past performance and future prospects.
The non-GAAP financial measure is not defined under
For more information on the non-GAAP financial measure, please see the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties. These statements are made under the "safe harbor" provisions of the
LightInTheBox may also make written or oral forward-looking statements in its periodic reports to the
Investor Relations Contact
Investor Relations
LightInTheBox Holding Co., Ltd.
Email: ir@ador.com
Serena Huang
Octans Capital Group
Email: litb@octanscap.com
LightInTheBox Holding Co., Ltd. | ||||||||||
Unaudited Condensed Consolidated Balance Sheets | ||||||||||
( | ||||||||||
As of December 31, | As of March 31, | |||||||||
2025 | 2026 | |||||||||
ASSETS | ||||||||||
Current Assets | ||||||||||
Cash and cash equivalents | 23,629 | 15,237 | ||||||||
Restricted cash | 2,319 | 1,872 | ||||||||
Accounts receivable, net | 1,355 | 1,855 | ||||||||
Inventories | 4,943 | 4,780 | ||||||||
Prepayments and other current assets, net | 1,884 | 2,204 | ||||||||
Total current assets | 34,130 | 25,948 | ||||||||
Property and equipment, net | 1,313 | 1,169 | ||||||||
Intangible assets, net | 2,180 | 2,036 | ||||||||
Goodwill | 27,800 | 28,175 | ||||||||
Operating lease right-of-use assets | 6,068 | 5,100 | ||||||||
Long-term rental deposits | 434 | 437 | ||||||||
Long-term investments | 77 | 77 | ||||||||
TOTAL ASSETS | 72,002 | 62,942 | ||||||||
LIABILITIES AND SHAREHOLDERS' DEFICIT | ||||||||||
Current Liabilities | ||||||||||
Short-term borrowings | 715 | 725 | ||||||||
Accounts payable | 12,309 | 8,386 | ||||||||
Advance from customers | 9,194 | 9,897 | ||||||||
Operating lease liabilities | 2,818 | 2,207 | ||||||||
Accrued expenses and other current liabilities | 48,956 | 43,031 | ||||||||
Total current liabilities | 73,992 | 64,246 | ||||||||
Operating lease liabilities | 1,886 | 1,405 | ||||||||
Deferred tax liabilities | 107 | 84 | ||||||||
TOTAL LIABILITIES | 75,985 | 65,735 | ||||||||
SHAREHOLDERS' DEFICIT | ||||||||||
Ordinary shares | 17 | 17 | ||||||||
Additional paid-in capital | 280,646 | 280,650 | ||||||||
Treasury shares | (29,392) | (29,799) | ||||||||
Statutory reserves | 396 | 396 | ||||||||
Accumulated other comprehensive loss | (1,723) | (1,289) | ||||||||
Accumulated deficit | (253,927) | (252,768) | ||||||||
TOTAL SHAREHOLDERS' DEFICIT | (3,983) | (2,793) | ||||||||
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT | 72,002 | 62,942 | ||||||||
LightInTheBox Holding Co., Ltd. | ||||||||
Unaudited Condensed Consolidated Statements of Operations | ||||||||
( | ||||||||
Three Months Ended March 31, | ||||||||
2025 | 2026 | |||||||
Revenues | ||||||||
Product sales | 44,800 | 50,058 | ||||||
Services and others | 2,218 | 1,918 | ||||||
Total revenues | 47,018 | 51,976 | ||||||
Cost of revenues | ||||||||
Product sales | (15,849) | (17,798) | ||||||
Services and others | (522) | (375) | ||||||
Total Cost of revenues | (16,371) | (18,173) | ||||||
Gross profit | 30,647 | 33,803 | ||||||
Operating expenses | ||||||||
Fulfillment | (3,870) | (4,081) | ||||||
Selling and marketing | (21,896) | (24,589) | ||||||
General and administrative | (4,962) | (4,209) | ||||||
Other operating income, net | 204 | 210 | ||||||
Total operating expenses | (30,524) | (32,669) | ||||||
Income from operations | 123 | 1,134 | ||||||
Interest income | 2 | - | ||||||
Interest expense | (4) | (4) | ||||||
Other (expense) / income, net | (7) | 9 | ||||||
Total other (expense) / income | (9) | 5 | ||||||
Income before income taxes | 114 | 1,139 | ||||||
Income tax benefit | - | 20 | ||||||
Net income | 114 | 1,159 | ||||||
Net income attributable to LightInTheBox Holding | 114 | 1,159 | ||||||
Weighted average numbers of shares used in calculating | ||||||||
-Basic | 220,681,179 | 215,924,273 | ||||||
-Diluted | 220,831,517 | 216,080,101 | ||||||
Net income per ordinary share | ||||||||
-Basic | 0.00 | 0.01 | ||||||
-Diluted | 0.00 | 0.01 | ||||||
Net income per ADS (12 ordinary shares equal to 1 ADS) | ||||||||
-Basic | 0.01 | 0.06 | ||||||
-Diluted | 0.01 | 0.06 | ||||||
LightInTheBox Holding Co., Ltd. | |||||||||
Unaudited Reconciliations of GAAP and Non-GAAP Results | |||||||||
( | |||||||||
Three Months Ended March 31, | |||||||||
2025 | 2026 | ||||||||
Net income | 114 | 1,159 | |||||||
Interest income | (2) | - | |||||||
Interest expense | 4 | 4 | |||||||
Income tax benefit | - | (20) | |||||||
Depreciation and amortization | 440 | 318 | |||||||
EBITDA | 556 | 1,461 | |||||||
Share-based compensation | 86 | 4 | |||||||
Adjusted EBITDA* | 642 | 1,465 | |||||||
* Adjusted EBITDA represents net income before share-based compensation expense, interest income, interest expense, | |||||||||
View original content:https://www.prnewswire.com/news-releases/lightinthebox-reports-first-quarter-2026-financial-results-302769288.html
SOURCE LightInTheBox Holding Co., Ltd.