Revenue Increase from Q1 to Q2 2025
Revenue for Q2 2025 was $282 million, marking a 22% increase from Q1 2025, driven by improvements in average order value and order count.
Improved Gross Margin
Gross margin for Q2 2025 increased by 360 basis points compared to the same period last year, landing at 23.7%.
Cost Reduction Achievements
G&A and tech expenses decreased by $9 million year-over-year, with a commitment to reduce fixed costs by an annualized amount of $80 million.
Strategic Investments and Partnerships
A long-term partnership in Canada resulted in a $5 million upfront payment, enhancing monetization of IP.
Exploration of Blockchain and Crypto Opportunities
The company plans to explore blockchain and crypto investments, including a Bitcoin reserve, to leverage the blockchain expertise.