Total revenue for the fourth quarter of LITB.US (LITB.US) was approximately US$135.6 million, a year-on-year decrease of 13.3%; net loss was US$4.3 million, compared with a net loss of US$48.3 million for the same period last year.
The Zhitong Finance App learned that before the US stock market opened on March 25, LITB.US (LITB.US) announced unaudited financial results for the fourth quarter of 2023, ending December 31, 2023. According to financial reports, the company's total revenue for the fourth quarter was approximately US$135.6 million, down 13.3% year on year; net loss was US$4.3 million, net loss was US$48.3 million for the same period last year; ADS loss per share was US$0.04, and ADS loss per share was US$0.43 for the same period last year.
In terms of segmented performance, Lanting's fourth quarter apparel revenue fell 12.7% year over year to US$108.5 million, compared to about US$123.9 million in the same period last year. Apparel revenue accounted for 80.1% of the company's total revenue for the third quarter of 2023, and 79.3% of total revenue for the same period last year.
Lanting concentrated its fourth quarter adjusted EBITDA loss of $3.3 million, compared to a loss of $3.8 million for the same period in 2022.
As of December 31, 2023, the company had cash and cash equivalents and restricted cash of $71.7 million.
Performance Guidelines
For the first quarter of 2024, Lanting Jiji expects net revenue to be between 70 million US dollars and 80 million US dollars, compared to 147.8 million US dollars for the same period last year.