Press release
CarParts.com Reports First Quarter 2025 Results
TORRANCE, Calif., May 13, 2025 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS), a leading eCommerce provider of automotive parts and accessories, and a
About this update from Carparts.com, Inc.
[{"type":"text","content":"TORRANCE, Calif., May 13, 2025 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS), a leading eCommerce provider of automotive parts and accessories, and a premier destination for vehicle repair and maintenance needs, is reporting results for the first quarter ended March 29, 2025. \n\n \n \n \n \n \n \n\n \nFirst Quarter 2025 Summary vs. Year-Ago Quarter\nNet sales decreased 11% to $147.4 million.Gross profit of $47.3 million vs. $53.9 million, with gross margin of 32.1%.Net loss was ($15.3) million, or ($0.27) per share, compared to a net loss of ($6.5) million, or ($0.11) per share.Adjusted EBITDA of ($6.2) million vs. $1.1 million.Cash of $38.5 million and no revolver debt.Our mobile app has cumulative net downloads of approximately 900,000.Over 5,000 CarParts+ and Roadside Assistance Memberships sold year to date.Management Commentary\n\"In the first quarter, our top line and operating expenses were in line with our expectations, the gross margin compression and advertising spend climate put significant pressure on our profitability. This reiterates how critical it is for us to continue to upgrade our customer base with higher income and less price sensitive customers as well as diversify our acquisition mix. Realigning our business around products to target higher margin sales, adding high-margin fee income, growing customer lifetime value with our mobile app, and increasing our focus on wholesale and other commercial opportunities. We continue to believe these are the right bets as we counteract these external pressures.\nFor the first 6 weeks of the second quarter, we generated revenues up double digits year-over-year, on sequentially lower marketing spend. Our focus on repeat customers, mobile app traffic, and high-margin fee income are all paying off and we are seeing record levels for all three. While early in the process, we are slowly changing our customer acquisition mix and margin profile to transform our company's profitability.\" said David Meniane, CEO.\nFirst Quarter 2025 Financial Results\nNet sales in the first quarter of 2025 were $147.4 million, down 11% from $166.3 million in the year-ago quarter. The decline was primarily driven by the impact of soft consumer demand, inclement weather, and continued pressures in lighting and mirrors.\nGross profit was $47.3 million in the first quarter compared to $53.9 mi...