Poshmark Reports Q2 EPS Miss & Worse Than Expected Guidance, Shares Down 5%
2022.08.12 00:06
Poshmark Reports Q2 EPS Miss & Worse Than Expected Guidance, Shares Down 5%
By Davit Kirakosyan
Poshmark Inc (NASDAQ:POSH) shares were trading nearly 5% lower after-hours following the company’s reported Q2 results, with EPS of ($0.29) coming in worse than the consensus estimate of ($0.23).
Revenue grew 9% year-over-year to $89.1 million, compared to the consensus estimate of $87.4 million. GMV grew 8% year-over-year to $483.5 million. Trailing 12 months Active Buyers grew 14% year-over-year to a record 8 million.
“We reported a strong quarter despite a tough consumer environment due to our focus on execution and are pleased that our results exceeded our initial expectations,” said Manish Chandra, Founder and CEO of Poshmark.
The company expects Q3/22 revenue to be in the range of $85-87 million, compared to the consensus estimate of $88 million. Adjusted EBITDA is expected to be in the range of ($9)-($11) million.
