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Poshmark, Inc. (NASDAQ: POSH) announced that CEO Manish Chandra and CFO Anan Kashyap will present at two investor conferences: the Morgan Stanley Life After Covid Conference on May 19 and Cowen’s 2nd Annual New Retail Ecosystem CEO Summit on May 26. Both events will feature virtual fireside chats, showcasing the company’s strategies and future outlook. Poshmark operates as a social marketplace for new and secondhand style, aiming to promote sustainability and community engagement amongst its 80 million registered users across multiple countries.
Poshmark reported strong Q1 2021 results with net revenue of $81.0 million, up 42% year-over-year. Gross Merchandise Value (GMV) also rose 43% to $441.0 million.
Active Buyers increased to 6.7 million, an 18% growth compared to Q1 2020. While Adjusted EBITDA was $4.2 million, a marked improvement from a loss of $8.7 million in the prior year, GAAP results showed a loss of $20.7 million. The company forecasts Q2 revenue between $79.0 million and $81.0 million.
Poshmark, Inc. (NASDAQ: POSH) will release its Q1 2021 financial results on May 12, 2021, following market close. A conference call and webcast to discuss these results will occur at 1:45 PM Pacific Time. CEO Manish Chandra and CFO Anan Kashyap will lead the discussion. Poshmark operates a social marketplace for new and secondhand items, boasting over 70 million registered users across the U.S., Canada, and Australia. For further details, visit the Investor Relations website.
Poshmark, Inc. (NASDAQ: POSH) has appointed William Ingham as its first Chief People Officer, effective immediately. Ingham brings over 25 years of HR experience, previously serving as Chief HR Officer at Visa Europe. His role will encompass all global human resources functions, focusing on talent management, employee development, and organizational culture. CEO Manish Chandra expressed confidence that Ingham's leadership will enhance Poshmark's employee engagement and business growth during a crucial phase in the company's history.
Poshmark, Inc. (NASDAQ: POSH) reported financial results for Q4 2020, highlighting a 27% year-over-year increase in total revenue to $69.3 million, and a 28% rise in gross merchandise value (GMV) to $387.2 million. The company achieved quarterly operating income of $1.6 million and adjusted EBITDA of $4.2 million, marking its third consecutive quarter of profitability. For FY2020, Poshmark's net revenue grew to $262.1 million, up 28% from the previous year, with active buyers reaching 6.5 million.
Poshmark, Inc. (NASDAQ: POSH) will announce its fourth quarter and fiscal year 2020 financial results on March 11, 2021, after market close. The company will hold a conference call and earnings webcast at 1:45 PM PT/4:45 PM ET on the same day, led by CEO Manish Chandra and CFO Anan Kashyap. Interested parties can access the live webcast via the Poshmark Investor Relations website. Established as a social marketplace for fashion and lifestyle products, Poshmark boasts over 70 million registered users across the U.S., Canada, and Australia.
Poshmark (NASDAQ: POSH) has launched its platform in Australia as part of its strategy for international expansion. Effective February 16, 2021, Australians can engage in buying and selling on Poshmark while connecting with over 70 million users worldwide. This move aims to promote a social and sustainable shopping experience. Poshmark’s tools for sellers and community-hosted events are expected to enhance user interaction. Following previous expansions to Canada and additional categories, Poshmark plans continued growth in diverse markets.
Poshmark, Inc. has announced the pricing of its initial public offering (IPO) of 6,600,000 shares of Class A common stock at $42.00 per share, all offered by the company. Trading is set to commence on Nasdaq under the symbol 'POSH' on January 14, 2021, with closing expected on January 19, 2021, subject to conditions. The underwriters have a 30-day option to purchase an additional 990,000 shares. Morgan Stanley, Goldman Sachs, and Barclays are acting as lead book-running managers for the offering.