1stdibs.com, Inc.
Business
1stdibs.com, Inc. operates a leading online marketplace that connects design-focused buyers with vetted sellers and makers of luxury furniture, décor, jewelry, watches, art, and fashion. It offers curated listings, seller tools for inventory and pricing, buyer services including personalization, dedicated support, and a buyer protection program, plus platform-enabled payment and logistics solutions. The company reports a single operating segment centered on its proprietary technology platform, marketplace operations, and programs such as Trade 1st for professional buyers. It serves a global audience through its website and mobile app, facilitating cross-border transactions and end-to-end shipping logistics.
Summary from filing dated 2025-03-03
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net revenue | 90 | 88 | 85 | 97 | 103 | |
| Cost of revenue | 24 | 25 | 25 | 30 | 32 | |
| Gross profit | 65 | 63 | 60 | 67 | 71 | |
| Sales and marketing | 31 | 38 | 37 | 45 | 47 | |
| Technology development | 23 | 21 | 22 | 24 | 19 | |
| General and administrative | 27 | 27 | 29 | 28 | 21 | |
| Provision for transaction losses | 3 | 3 | 4 | 6 | 5 | |
| Total operating expenses | 84 | 90 | 91 | 93 | 93 | |
| Loss from operations | −19 | −26 | −31 | −26 | −22 | |
| Interest income | 4 | 6 | 7 | 2 | 146,000 | |
| Other, net | 1 | 2 | 2 | 2 | 1 | |
| Total other income, net | 5 | 8 | 8 | 3 | 2 | |
| Net loss before income taxes | −14 | −19 | −23 | −23 | −21 | |
| Provision for income taxes | −98,000 | −44,000 | −14,000 | −37,000 | −21,000 | |
| Net loss | −14 | −19 | −23 | −23 | −21 | |
| Net loss per sharebasic (in usd per share) | −0.38 | −0.49 | −0.57 | −0.59 | −1.08 | |
| Net loss per sharediluted (in usd per share) | −0.38 | −0.49 | −0.57 | −0.59 | −1.08 | |
| Weighted average common shares outstandingbasic (in shares) | 36 | 38 | 40 | 38 | 26 | |
| Weighted average common shares outstandingdiluted (in shares) | 36 | 38 | 40 | 38 | 26 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 23 | 26 | 37 | 153 | 168 | |
| Short-term investments | 72 | 78 | 102 | 0 | — | |
| Accounts receivable, net of allowance for doubtful accounts of $72 and $13 at December 31, 2025 and 2024, respectively | 400,000 | 500,000 | 600,000 | 1 | 700,000 | |
| Prepaid expenses | 3 | 3 | 3 | 4 | 4 | |
| Receivables from payment processors | 2 | 3 | 3 | 2 | 2 | |
| Other current assets | 2 | 2 | 2 | 800,000 | 867,000 | |
| Total current assets | 102 | 112 | 148 | 162 | 176 | |
| Restricted cash, non-current | 4 | 4 | 4 | 3 | 3 | |
| Property and equipment, net | 3 | 4 | 3 | 4 | 4 | |
| Operating lease right-of-use assets | 17 | 20 | 20 | 22 | 25 | |
| Goodwill | 4 | 4 | 4 | 4 | 7 | |
| Other assets | 2 | 3 | 2 | 249,000 | 209,000 | |
| Total assets | 132 | 146 | 181 | 196 | 192 | |
| Accounts payable | 2 | 2 | 4 | 3 | 5 | |
| Payables due to sellers | 7 | 9 | 7 | 7 | 10 | |
| Accrued expenses | 9 | 11 | 11 | 11 | 14 | |
| Operating lease liabilities, current | 4 | 4 | 3 | 3 | 3 | |
| Other current liabilities | 2 | 2 | 4 | 2 | 4 | |
| Total current liabilities | 24 | 28 | 28 | 26 | 32 | |
| Operating lease liabilities, non-current | 14 | 18 | 19 | 22 | 24 | |
| Other liabilities | 4,000 | 24,000 | 6,000 | 46,000 | 3 | |
| Total liabilities | 39 | 46 | 47 | 48 | 35 | |
| Commitments and contingencies (Note 15) | — | — | — | — | — | |
| Preferred stock, $0.01 par value; 10,000,000 shares authorized as of December 31, 2025 and 2024; zero shares issued and outstanding as of December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.01 par value; 400,000,000 shares authorized as of December 31, 2025 and 2024; 44,086,361 and 42,271,388 shares issued as of December 31, 2025 and 2024, respectively; and 36,848,301 and 35,827,866 shares outstanding as of December 31, 2025 and 2024, respectively | 441,000 | 422,000 | 407,000 | 393,000 | 380,000 | |
| Treasury stock, at cost; 7,238,060 and 6,443,522 shares as of December 31, 2025 and 2024, respectively | −35 | −32 | −3 | 0 | — | |
| Additional paid-in capital | 474 | 463 | 451 | 439 | 426 | |
| Accumulated deficit | −346 | −332 | −314 | −291 | −268 | |
| Accumulated other comprehensive loss | −153,000 | −371,000 | −186,000 | −356,000 | −229,000 | |
| Total stockholders equity | 94 | 99 | 134 | 148 | 157 | |
| Total liabilities and stockholders equity | 132 | 146 | 181 | 196 | 192 | |
| Treasury stock, common (in shares) | 7 | 6 | 823,483 | 0 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 2 | 2 | 2 | 3 | 3 | |
| Stock-based compensation expense | 14 | 15 | 12 | 11 | 3 | |
| Provision for transaction losses, returns and refunds | 323,000 | 1 | 875,000 | 781,000 | 701,000 | |
| Non-cash operating lease expense | 4 | 3 | 3 | 3 | 0 | |
| Accretion of discounts and amortization of premiums on short-term investments, net | −450,000 | 41,000 | −3 | 0 | 0 | |
| Other, net | 66,000 | 174,000 | 8,000 | 195,000 | 21,000 | |
| Accounts receivable | −65,000 | −228,000 | 59,000 | −497,000 | 52,000 | |
| Prepaid expenses and other current assets | −552,000 | 44,000 | −1 | 31,000 | −1 | |
| Receivables from payment processors | 843,000 | −163,000 | −194,000 | −323,000 | 910,000 | |
| Other assets | 159,000 | −679,000 | −2 | −615,000 | −145,000 | |
| Accounts payable and accrued expenses | −2 | −2 | 578,000 | −5 | 5 | |
| Payables due to sellers | −2 | 2 | −662,000 | −3 | 6 | |
| Operating lease liabilities | −4 | −3 | −3 | −3 | 0 | |
| Other current liabilities and other liabilities | 74,000 | −2 | 1 | −1 | −977,000 | |
| Net cash used in operating activities | −2 | −3 | −14 | −28 | −4 | |
| Maturities of short-term investments | 70 | 92 | 93 | 0 | 0 | |
| Sales of short-term investments | 988,000 | 18 | 0 | 0 | — | |
| Purchases of short-term investments | −65 | −86 | −191 | 0 | 0 | |
| Purchases of property and equipment | −763,000 | −2 | −2 | −93,000 | −129,000 | |
| Other, net | 0 | 302,000 | 2,000 | −6,000 | −30,000 | |
| Net cash provided by (used in) investing activities | 6 | 22 | −100 | 13 | −2 | |
| Proceeds from exercise of stock options | 743,000 | 817,000 | 353,000 | 2 | 3 | |
| Payments for repurchase of common stock | −3 | −28 | −3 | 0 | 0 | |
| Payments for taxes related to net share settlement of stock-based compensation awards | −4 | −4 | −608,000 | 0 | 0 | |
| Net cash used in financing activities | −6 | −31 | −4 | 2 | 120 | |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 269,000 | −29,000 | 349,000 | −278,000 | −16,000 | |
| Net decrease in cash, cash equivalents, and restricted cash | −3 | −11 | −117 | −14 | 113 | |
| Cash paid for income taxes | 15,000 | 16,000 | 18,000 | 26,000 | 69,000 | |
| Recording of right of use asset | 698,000 | 3 | 0 | 0 | — | |
| Recording of lease liability | −698,000 | −3 | 0 | 0 | — |