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Thursday, November 14, 2019
Farfetch (FTCH) reported earnings on Thur 14 Nov 19 (a/h)
Farfetch beats by $0.02, beats on revs
Reports Q3 (Sep) loss of $0.18 per share,
the S&P Capital IQ Consensus of ($0.20); revenues rose 93.3% year/year to $255.5 mln vs the $248.31 mln S&P Capital IQ Consensus.
Gross Merchandise Value (GMV) increased by $182.0 mln from $310.0 mln in 3Q18 to $492.0 mln in 3Q19, representing year-over-year growth of 58.7%.
Digital platform GMV increased to $420.7 mln from $305.9 mln.
Gross margin decreased to 45.1% form 50.1%.
Adjusted EBITDA loss increased by $3.3 mln, or 10.3%, yr/yr in 3Q19, to $35.6 mln. Adjusted EBITDA Margin improved from (28.7)% to (15.6)% over the same period.
: Co sees digital platform GMV growth of 30-35%, brand platform GMV of $80-$90 mln, and Adjusted EBITDA loss of ($31)-($21) mln.
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