Insights
- US' a.k.a. Brands has reported preliminary unaudited Q1 FY23 net sales of $120 million, exceeding its expected range of $113 million to $116 million.
- The company's adjusted EBITDA was $2 million to $2.2 million, exceeding its previously provided outlook of $1.5 million to $1.8 million.
- The net loss for the period was $9.7 million to $9.6 million.
US-based a.k.a. Brands Holding Corp, a leading digital fashion company, has reported preliminary unaudited net sales of approximately $120 million for the first quarter (Q1) of fiscal 2023 (FY23), which is higher than the expected range of $113 million to $116 million. The company has also reported a net loss of approximately $9.7 million to $9.6 million, which is within management's expectations.
The company’s adjusted EBITDA was approximately $2 million to $2.2 million in Q1 FY23. This figure exceeds the high end of its previously provided outlook of between $1.5 million and $1.8 million, a.k.a. Brands said in a press release.
“I’m proud of our solid performance in the first quarter of 2023, which exceeded our expectations on both the top line and on an adjusted EBITDA basis,” said Ciaran Long, interim chief executive officer and chief financial officer of a.k.a. Brands. “I’m pleased with the strength of our brands and our disciplined execution during the quarter. We remain laser-focused on balancing growth and profitability, and we are confident that our growth strategies, flexible operating model, and talented teams will drive profitable growth.”
US' a.k.a. Brands has reported preliminary unaudited Q1 FY23 net sales of $120 million, exceeding its expected range of $113 million to $116 million.
The company's adjusted EBITDA was $2 million to $2.2 million, exceeding its previously provided outlook of $1.5 million to $1.8 million.
The net loss for the period was $9.7 million to $9.6 million.
Fibre2Fashion News Desk (DP)
Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.
