Conferencia de resultados del 2T de 2026 de LightInTheBox (LITB): el margen bruto se mantiene en el 66.1%

Puntos clave

• Los ingresos del T2 de 2026 cayeron un 4% interanual hasta los 57 millones de dólares, a medida que LightInTheBox retiró deliberadamente sus productos de cola larga.
• El margen bruto se mantuvo estable en el 66,1%, en comparación con el 65,9% del año anterior, respaldado por un mayor enfoque en productos de estilo de vida con mayor margen.
• El beneficio neto del T2 fue de 1,6 millones de dólares, por debajo de los 2 millones de dólares del mismo periodo del año anterior. El EBITDA ajustado alcanzó los 1,9 millones de dólares.
• Los gastos operativos totales disminuyeron un 4% hasta los 35 millones de dólares, mientras que los gastos operativos como porcentaje de los ingresos mejoraron al 62% desde el 63%.
• Los ingresos del primer semestre aumentaron un 3% interanual hasta los 108,8 millones de dólares. El beneficio neto aumentó aproximadamente un 28% hasta los 2,7 millones de dólares y el EBITDA ajustado alcanzó los 3,3 millones de dólares.
• La dirección señaló que Ador, Msglamor y Skol están haciendo progresos en ingresos, rentabilidad y compras recurrentes, mientras la empresa prepara marcas adicionales para ampliar su matriz de marcas.

Datos financieros clave

Rendimiento comercial y operativo

LightInTheBox continuó alejando su catálogo de productos de las ofertas de cola larga para orientarlo hacia productos de estilo de vida diferenciados y de mayor margen. La dirección señaló que las inversiones previas en marcas de ropa, desarrollo interno de productos y capacidades de producción han incrementado el control sobre la diferenciación del producto, la calidad y la velocidad de comercialización.

La empresa también está desarrollando una matriz de marcas más amplia. La dirección informó de avances en Ador, Msglamor y Skol, incluyendo mejoras en ingresos, rentabilidad y tasas de compra recurrente. Se están preparando marcas adicionales, aunque no se facilitó ningún calendario de lanzamiento ni objetivos financieros durante la llamada.

La dirección describió la IA como un elemento fundamental en la transformación de LightInTheBox en una empresa de estilo de vida para el consumidor. La estrategia se centra en utilizar la tecnología para entender mejor la intención del consumidor y mejorar la localización, personalización y selección de productos. La empresa también prevé enfocar su estrategia de producto en la autoexpresión, el valor emocional y las experiencias memorables.

Riesgos y puntos de atención

La dirección citó las perturbaciones geopolíticas como una fuente de presión sobre la logística transfronteriza y los costes asociados durante el T2. La debilidad del dólar estadounidense también generó factores adversos en los tipos de cambio para las operaciones globales de LightInTheBox.

La paulatina eliminación de los productos de cola larga lastró los ingresos trimestrales. Aunque el margen bruto se mantuvo estable y los gastos operativos disminuyeron, el beneficio neto del T2 cayó a 1,6 millones de dólares desde los 2 millones de dólares del año anterior.

Aspectos destacados de las preguntas y respuestas con inversores

Un inversor particular preguntó sobre la matriz de marcas de la empresa. La dirección afirmó que Ador, Msglamor y Skol están progresando tanto en ingresos como en beneficio neto, con un aumento en las tasas de compra recurrente. La empresa también está preparando otras marcas para reforzar su cartera.

Transcripción completa de la llamada de resultados

Transcripción completa de la conferencia de resultados

Comentarios de la dirección

Operator

Hello, ladies and gentlemen. Thank you for standing by for LightInTheBox's Second Quarter 2026 Earnings Conference Call. [Operator Instructions]

Today's conference call is being recorded. I will now turn the call over to your host, Ms. Serena Huang. Please go ahead, Serena.

Serena Huang

Thank you, operator. Hello, everyone, and welcome to LightInTheBox's Second Quarter 2026 Earnings Conference Call. The company's earnings results were released by Newswire services earlier today and are available on the company's IR website at ir.ador.com.

On the call from LightInTheBox today are Mr. Jian He, CEO; and Ms. Wenyu Liu, CFO. Mr. He will provide an overview ofthe company's Q2 highlights, followed by Mr. Liu, who will go over its financial results. Following our prepared remarks, we will open the call to questions.

Before we proceed, please note that today's discussion may contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from the company's current expectations.

To understand the factors that could cause results to materially differ from those in forward-looking statements, please refer to the company's Form 20-F filed with the SEC -- the company does not assume any obligation to update any forward-looking statements, except as required under applicable law.

Please also note that LightInTheBox's earnings press release and this conference call includes discussions of unaudited GAAP financial measures as well as unaudited non-GAAP financial measures. Please refer to the company's earnings press release, which contains a reconciliation of the unaudited non-GAAP measures to the unaudited GAAP measures.

Now I'd like to turn the call over to LightInTheBox CEO, Mr. He. Please go ahead.

Jian He

Good morning, and good evening, everyone. Thank you for joining LightInTheBox's Second Quarter 2026 Earnings Call. We are pleased to report excellent results for the first half and the second quarter of 2026.

Our first half results provide a clear view of the progress we are making. Revenue increased 3% year-over-year to $108.8 million. Net income grew by approximately 28% to $2.7 million. Adjusted EBITDA also improved to $3.3 million. In the second quarter, revenue declined marginally as we phase out the long tail products despite a challenging external environment, gross margin remained resilient at 66%. Through its disciplined expense management we remain profitable, delivering net income of $1.6 million and adjusted EBITDA of $1.9 million.

Over the past several years, we have steadily reshaped LightInTheBox and laid the foundation for sustainable profitable growth. From 2023 to 2024, we invested in our property apparel brands and strengthened our in-house product development and the production capabilities. These investments gave us greater control over product differentiation, quality and speed to market.

In 2025, we made meaningful progress in evolving the LightInTheBox online platform into a consumer lifestyle company by developing a deeper understanding of consumer preference and sentiment. We delivered a differentiated products. The force engagement and build a stronger emotional connection with consumers.

This year, we are seeing another important shift. AI is rapidly becoming embedded in how people work, communicate, create and make the decisions. We believe it will transform to owning core consumers discover, evaluate and purchase products, but also what the value and seeking the daily list.

As technology becomes more deeply integrated into everyday life, we believe the design for emotional connection, self-expression, individuality, a better quality of life and memorable experiences will become even more important. As a lifestyle company, we are well positioned to address these evolving needs. Our transformation from the AI goes beyond adopting technology tools. It requires a deeper understanding of consumer intent.

Through our AI strategy, we are focused on using technologies to anticipate evolving consumer needs and connect them more effectively with product discovery, personalization and curation. At the same time, we will continue to evolve our product strategy around growing human aspiration for self-expression, emotional value, and memorable experience.

With that, I will now hand the call over to Wenyu to go through our financial results.

Wenyu Liu

Thank you, Mr. He. Good morning and good evening, everyone. Before we go over our financials, please note that unless otherwise stated, all figures are presented in U.S. dollars. In the second quarter, our total revenues were $57 million, a modest 4% decrease year-over-year as we deliberately phased out long-tail products. This quarter was affected by a challenging external environment. Geopolitical disruptions increased pressure on cross-border logistics and related costs, while the weaker U.S. dollar created additional foreign exchange headwinds for our global operations.

Despite these factors, gross margin remained very stable at 66.1% compared with 65.9% a year ago, reflecting our continued efforts on higher-margin lifestyle products. Total operating expenses in the second quarter decreased by 4% year-over-year to $35 million, of which fulfillment expenses decreased by 3% to $4 million.

Selling and marketing expenses decreased by 4% to $27 million, and G&A expenses decreased by 5% to $5 million. Total operating expenses as a percentage of revenue decreased from 63% to 62%. Our net income in the second quarter reached $1.6 million compared to $2 million in the same quarter last year.

This concludes my remarks. We are now open to your questions. Operator, please continue.

Operator

[Operator Instructions] Your question comes from [indiscernible], a private investor.

Unknown Attendee

I have questions relating to 2 topics and 2 topics are insider ownership and your brand matrix strategy, and I'll start with the first topic. I would appreciate if you could provide an update on how many shares are in the public float, and how much do insiders own of the company.

Wenyu Liu

Thank you for your question. Related to insider share percentage, you may refer to our IR website for more details.

Unknown Attendee

My second question was concerning the brand matrix strategy. At an investor conference earlier this year, the company stated that its 3 brands are Ador, Msglamor and Skol. And I was wondering if you could provide any details about any of the brands. And also, you mentioned potentially adding maybe 1 to 2 brands a year if you find the right market? And just would appreciate any thoughts about plans for new brands in this year or the next.

Wenyu Liu

Thank you for your question. For these 3 brands, we do see good progress in terms of top line as well as bottom line, and we do see repeat purchase rates are increasing. So these brands are progressing really good. At the same time, we are preparing other brands as well to enhance the brand matrix.

Operator

Thank you. There are no further phone questions at this time, and that does conclude our conference for today. Thank you for participating. You may now disconnect.