Lightinthebox Hldg Co Ltd - LITB STOCK NEWS

LightInTheBox Holding Co., Ltd. (LITB) has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2020, with the U.S. Securities and Exchange Commission. This annual report is accessible on both LightInTheBox's investor relations website and the SEC's site. Shareholders can request a hard copy of the audited financial statements for free. LightInTheBox provides a cross-border e-commerce platform, offering a wide selection of products to consumers globally through various websites and mobile applications in multiple languages.

LightInTheBox (LITB) reported a strong performance for Q4 and the full year of 2020. Q4 revenues surged by 77.7% year-over-year to $132.7 million. Full-year revenues increased by 63.4% to $398.2 million, a record high. Gross margin improved to 44.9% in Q4 from 40.4%, and net income rose to $13.3 million for the year, compared to $1.1 million in 2019. However, net loss of $3.2 million was reported in Q4 2020. The company anticipates Q1 2021 revenues between $110 million and $125 million, representing a growth of 114% to 143% compared to Q1 2020.

LightInTheBox Holding Co., Ltd. (NYSE: LITB) will release its unaudited financial results for Q4 and full year 2020 on March 19, 2021, prior to the U.S. market opening. A conference call to discuss the results is scheduled for 8:00 a.m. ET on the same day. Due to COVID-19, participants must preregister online to receive dial-in details. The company operates a cross-border e-commerce platform delivering products globally. A telephone replay will be available until March 26, 2021. For more information, visit their Investor Relations page.

LightInTheBox reported impressive financial results for Q3 2020, with total revenues of $100.0 million, a 67.0% increase year-over-year. Product sales drove this growth at $95.4 million. Net income fell to $7.3 million from $10.0 million in Q3 2019. Notably, adjusted EBITDA soared to $12.7 million from $0.5 million a year earlier. The company anticipates Q4 2020 revenues in the range of $120 million to $135 million, reflecting a potential increase of 61%-81% compared to Q4 2019. With cash reserves of $48.2 million, LightInTheBox is well-positioned for further growth.

LightInTheBox Holding Co. (LITB) will release its unaudited financial results for Q3 2020 on December 7, 2020, before U.S. market opens. A conference call will be held at 8:00 a.m. ET on the same day to discuss the results. Participants must preregister online to receive dial-in details. A replay of the call will be available until December 14, 2020. LightInTheBox is a cross-border e-commerce platform serving customers in over 140 countries with a diverse range of products.

LightInTheBox Holding Co., Ltd. (NYSE: LITB) has scheduled its 2020 annual general meeting of shareholders for December 24, 2020, at 10:00 a.m. in Shanghai, China. No proposals will be made for shareholder approval; instead, the meeting will be an open forum for discussion with management. The record date for determining eligible shareholders is November 16, 2020. The company has also filed its annual report on Form 20-F with the SEC, detailing audited financial statements for the year ended December 31, 2019, accessible via its website.

LightInTheBox reported significant growth in its Q2 2020 financial results, with total revenues soaring 95.9% year-over-year to $113.9 million, driven by product sales of $107.2 million. The company achieved a net income of $8.5 million, recovering from a net loss of $7.3 million in Q2 2019. Gross margin improved to 43.5%, up from 41.9% a year prior. Adjusted EBITDA surged by 920.8% to $9.1 million. Looking ahead, LightInTheBox anticipates Q3 revenues between $95 million and $110 million, a year-over-year increase of 59% to 83%.

LightInTheBox Holding Co., Ltd. (LITB) announced the release of its unaudited financial results for Q2 2020, set for August 19, 2020, before U.S. markets open. A conference call will be held at 8:00 a.m. ET on the same day to discuss the results. Due to COVID-19, preregistration is required for participants. A replay will be available post-conference until August 26, 2020. LightInTheBox offers a cross-border e-commerce platform, shipping globally and providing a wide selection of products in 23 languages.

LightInTheBox Holding Co., Ltd. (NYSE: LITB) has appointed Wenyu Liu as Chief Growth Officer and Yuanjun Ye as Chief Financial Officer, effective immediately. Liu, with extensive experience in cross-border e-commerce and financial management, previously served as Acting CFO and has been with the company since December 2018. Ye, who has been Finance VP since August 2019, brings nearly 18 years of financial management experience, including roles at Alibaba and Deloitte. CEO Jian He expressed confidence in their leadership to drive sustainable growth and enhance operational execution.