Improved Adjusted EBITDA Margins
Adjusted EBITDA margins improved to negative 1%, a 13 percentage point improvement year-over-year, marking the best performance as a public company.
New Share Repurchase Program
The Board authorized a new $12 million share repurchase program, reflecting confidence in free cash flow generation.
Operational Efficiency Gains
Achieved $7 million in annual savings through headcount reduction and marketing efficiencies. Operating expenses were down 6% year-over-year, and down 10% excluding severance costs.
Conversion Growth and AOV Increase
Eighth consecutive quarter of conversion growth and a 10% increase in average order value, driving GMV acceleration.
AI Integration in Product Development
AI now writes over 25% of new code in engineering, accelerating development processes.
Positive Outlook for 2026
Expect to generate positive adjusted EBITDA and free cash flow for the full year 2026.