1stdibs.com Reports 2% Revenue Growth to $22.5 Million in Q1 2025

1stdibs.com, Inc. reported its financial results for the first quarter of 2025, revealing a net revenue of $22.5 million, a 2% increase from $22.1 million in the same period last year. The growth in revenue was primarily attributed to an increase in Gross Merchandise Value (GMV), which rose to $94.7 million, driven by a higher average order value, while the number of orders remained relatively stable at 35,262. Despite the revenue growth, the company recorded a net loss of $4.8 million, compared to a loss of $3.3 million in the prior year, reflecting ongoing investments in growth and operational expenses.

Operating expenses for the quarter totaled $22.6 million, up from $21.3 million in the previous year, with notable increases in technology development costs, which rose by 18% to $5.6 million. This increase was largely due to higher salaries, benefits, and stock-based compensation expenses associated with an expanded workforce. Sales and marketing expenses remained consistent at $9.1 million, while general and administrative costs slightly decreased to $7.0 million. The provision for transaction losses also saw a significant increase, rising 117% to $0.9 million, reflecting adjustments based on historical trends and an increase in GMV.

In terms of operational metrics, 1stdibs.com reported an increase in active buyers, which grew to 64,799 from 60,666 year-over-year. The company continues to focus on expanding its marketplace, which connects buyers with sellers of luxury design items, including vintage and contemporary furniture, jewelry, and art. The company’s cash and cash equivalents stood at $20.3 million as of March 31, 2025, down from $25.9 million at the end of 2024, while short-term investments increased to $80.7 million from $77.9 million.

Strategically, 1stdibs.com has been active in its stock repurchase programs, having repurchased approximately 478,000 shares for $1.8 million during the quarter. The company has approximately $2.0 million remaining under its 2024 Stock Repurchase Program. Looking ahead, 1stdibs.com anticipates continued operating losses as it invests in growth initiatives and technology development. The company believes its existing cash and investments will be sufficient to fund operations for at least the next 12 months, although it may need to seek additional capital to support longer-term objectives.