1stdibs.com, Inc. (DIBS) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

ensuring a more confident and frictionless experience for buyers and driving higher GMV for compliant sellers. Price parity proves that our team can solve complex problems. To make sure that we can tackle even more ambitious initiatives faster, we are making significant advancements in integrating AI into our product development process. We view AI as a powerful tool to drive both internal efficiency and customer value. This quarter, our focus was on maximizing employee productivity. Within engineering, we estimate that over 25% of all new code is being written by AI, accelerating our development process. By building AI into our workflows, we are ensuring that our new, leaner cost structure maximizes output and product velocity. Beyond engineering efficiency, we are actively incorporating an AI component into every major initiative in our roadmap. We also continue to make progress in our advertising program by leveraging our high quality, high intent audience. For our core sponsored listings, the third quarter focused on efficiency, expanding inventory, and optimizing the ad load for better seller visibility. More strategically, we successfully launched our first non-endemic advertiser in late September. This validates the value of our audience, but the revenue opportunity is still nascent and will develop over time. Moving to the health of our supply, the third quarter underscored our commitment to high-quality, high-performing inventory. We ended the period with nearly 1.9 million total listings, marking continued growth up 1%. As anticipated, the number of unique sellers continues to stabilize following our 2024 pricing actions. We ended the quarter with approximately 5,800 unique sellers, indicating that the major headwind from the Essential Seller Program is now...