Q1 2026 LightInTheBox Holding Co Ltd Earnings Call

May 12, 2026

Operator: Hello, ladies and gentlemen. Thank you for standing by for LightInTheBox's Q1 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded. I will now turn the call over to your host, Ms. Serena Huang. Please go ahead, Serena.

Speaker #1: After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded. I will now turn the call over to your host, Ms. Serena Huang.

Speaker #1: Please go ahead, Serena.

Speaker #2: Thank you, Operator. Hello, everyone, and welcome to LightInTheBox's first quarter 2026 earnings conference call. The company's earnings results were released via news file services earlier today.

Serena Huang: Thank you, operator. Hello, everyone, and welcome to LightInTheBox Q1 2026 earnings conference call. The company's earnings results were released via news file services earlier today and are available on the company's IR website at ir.lightinthebox.com. On the call from LightInTheBox today are Mr. Jian He, CEO, and Mr. Suhai Ji, CFO. Mr. He will provide an overview of the company's Q1 highlights, followed by Mr. Ji who will go over its financial results. Following our prepared remarks, we will open a call to questions. Before we proceed, please note that today's discussion may contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from the company's current expectations.

Speaker #2: And are available on the company's IR website at ir.ador.com. On the call from LightInTheBox today, are Mr. Jianhe, CEO, and Mr. Suhai Ji, CFO.

Serena Huang: On the call from LightInTheBox today are Mr. Jian He, CEO, and Mr. Suhai Ji, CFO. Mr. He will provide an overview of the company's Q1 highlights, followed by Mr. Ji who will go over its financial results. Following our prepared remarks, we will open a call to questions.

Speaker #2: Mr. He will provide an overview of the company's Q1 highlights followed by Mr. Ji, who will go over its financial results. Following our prepared remarks, we will open a call to questions.

Speaker #2: Before we proceed, please note that today's discussion may contain forward-looking statements made under the Safe Harbor Provisions of the US Private Securities Litigation Reform Act of 1995.

Serena Huang: Before we proceed, please note that today's discussion may contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from the company's current expectations.

Speaker #2: These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from the company's current expectations. To understand the factors that could cause results to materially differ from those in forward-looking statements, please refer to the company's Form 20F filed with the SEC.

Serena Huang: To understand the factors that could cause results to materially differ from those in forward-looking statements, please refer to the company's Form 20-F filed with the SEC. The company does not assume any obligation to update any forward-looking statements, except as required under applicable law. Please also note that LightInTheBox earnings press release and this conference call include the discussions of unaudited GAAP financial measures as well as unaudited non-GAAP financial measures. Please refer to the company's earnings press release, which contains a reconciliation of the unaudited non-GAAP measures to the unaudited GAAP measures. Now, I'd like to turn the call over to LightInTheBox CEO, Mr. He. Please go ahead.

Speaker #2: The company does not assume any obligation to update any forward-looking statements except as required under applicable law. Please also note that LightInTheBox's earnings press release and this conference call include discussions of unaudited gap financial measures as well as unaudited non-gap financial measures.

Serena Huang: Please also note that LightInTheBox earnings press release and this conference call include the discussions of unaudited GAAP financial measures as well as unaudited non-GAAP financial measures.

Speaker #2: Please refer to the company's earnings press release which contains a reconciliation of the unaudited non-gap measures to the unaudited gap measures. Now, I'd like to turn the call over to LightInTheBox CEO, Mr. He.

Serena Huang: Please refer to the company's earnings press release, which contains a reconciliation of the unaudited non-GAAP measures to the unaudited GAAP measures. Now, I'd like to turn the call over to LightInTheBox CEO, Mr. He. Please go ahead.

Speaker #2: Please go ahead.

Speaker #3: Good morning and good evening, everyone. Thank you for joining LightInTheBox's first quarter 2026 earnings call. We are pleased to report an exciting first quarter result.

Jian He: Good morning and good evening, everyone. Thank you for joining LightInTheBox Q1 2026 earnings call. We are pleased to report an exciting Q1 results. Continuing the turnaround from last year, we achieved our eighth consecutive profitable quarter and a record Q1 profit of $1.2 million since 2022. This compared with just a profit of $0.1 million in the Q1 of last year. Please note that Q1 is typically our weakest period due to the seasonality of our business. Q2 picks up significantly as the season goes into spring and the summer. Q3 may come down a little, the Q4 picks up again to get ahead of Christmas.

Speaker #3: Continuing the turnaround from last year, we achieved our eighth consecutive profitable quarter and a record first quarter profit of 1.2 million. Since 2022, this compared with just the profit of 0.1 million in the first quarter of last year.

Jian He: This compared with just a profit of $0.1 million in the Q1 of last year. Please note that Q1 is typically our weakest period due to the seasonality of our business. Q2 picks up significantly as the season goes into spring and the summer. Q3 may come down a little, the Q4 picks up again to get ahead of Christmas.

Speaker #3: Please note that Q1 is typically our weakest period. Due to the seasonality of our business, Q2 picks up significantly as the season goes into spring and summer.

Speaker #3: Q3 may come down a little and Q4 picks up again to be ahead of Christmas. There are also proud of the fact that Q1 marked our second consecutive quarter of the year-over-year revenue growth.

Jian He: We are also proud of the fact that Q1 marked our second consecutive quarter of year-over-year revenue growth, with revenues returning to double-digit growth, increasing by 11% to $52 million. Our branded apparel business continued to gain strong momentum, growing over 81% year-over-year and already accounting for 24% of total revenue, up from 16%, 15% in Q1 2025. This result reflects the continued successful execution of our strategy of evolving the LightInTheBox online platform into a consumer lifestyle company. By offering highly customized products that create deep emotional resonance for festivals, holidays, and special occasions, combined with our brand matrix strategy across women's fashion, golf apparel, and light party dresses, we are driving stronger engagement and customer loyalty. In summary, we had a very good head start for 2026.

Speaker #3: Its revenues returning to double-digit growth, increasing by 11% to 52 million. Our branded apparel business continues to gain strong momentum. Growing over 81% year-over-year, and already accounting for 24% of total revenue.

Jian He: Our branded apparel business continued to gain strong momentum, growing over 81% year-over-year and already accounting for 24% of total revenue, up from 16%, 15% in Q1 2025. This result reflects the continued successful execution of our strategy of evolving the LightInTheBox online platform into a consumer lifestyle company.

Speaker #3: Up from 15% in the first quarter of 2025. This result reflects the continued successful execution of our strategy of involving the LightInTheBox online platform into a consumer lifestyle company.

Speaker #3: By offering highly customized products that create deep emotional resonance for festivals, holidays, and special occasions, combined with our brand magic strategy, across women's fashion, golf apparel, and light party jerseys, we are driving stronger engagement in the customer loyalty.

Jian He: By offering highly customized products that create deep emotional resonance for festivals, holidays, and special occasions, combined with our brand matrix strategy across women's fashion, golf apparel, and light party dresses, we are driving stronger engagement and customer loyalty. In summary, we had a very good head start for 2026.

Speaker #3: In summary, we had a very good head start for 2026. We sustained profitability, disciplined cost control, and ongoing share repetition program. We believe we are well positioned to pursue continued revenue and profit growth, as well as greater shareholder value through the rest of 2026.

Jian He: With sustained profitability, disciplined cost control, and our ongoing share repurchase program, we believe we are well positioned to pursue continued revenue and profit growth as well as greater shareholder value through the rest of 2026. With that, I will now hand the call over to Suhai to go through our financial results.

Speaker #3: With that, I will now hand the call over to Suhai to go through our financial results.

Speaker #4: Thank you, Mr. He. Good morning and good evening, everyone. Before we go over our financials, please note that, unless otherwise stated, all figures are presented in U.S. dollars.

Suhai Ji: Thank you, Jian He. Good morning and good evening, everyone. Before we go over our financials, please note that unless otherwise stated, all figures are presented in US dollars. As our CEO mentioned in his remarks, we delivered excellent Q1 results in 2026. In Q1, our total revenues were $52 million, up 11% year over year. Compared to the year-over-year decrease in the first three quarters of last year, this marked our second consecutive top-line growth. We have successfully engineered a sustained business turnaround, not only on profit, but also on revenues. The Q1 gross profit was $34 million, up 10% year over year. Gross margin remained relatively stable at 65%.

Suhai Ji: Thank you, Mr. He. Good morning and good evening, everyone. Before we go over our financials, please note that unless otherwise stated, all figures are presented in US dollars.

Speaker #4: As our CEO mentioned in his remarks, we delivered excellent first quarter results in 2026. In the first quarter, our total revenues were $52 million, up 11% year-over-year.

Suhai Ji: As our CEO mentioned in his remarks, we delivered excellent Q1 results in 2026. In Q1, our total revenues were $52 million, up 11% year-over-year. Compared to the year-over-year decrease in the first three quarters of last year, this marked our second consecutive top-line growth.

Speaker #4: Compared to the year-over-year decrease in the first three quarters of last year, this marked our second consecutive top-line growth. We have successfully engineered a sustained business turnaround, not only on profit but also on revenues.

Suhai Ji: We have successfully engineered a sustained business turnaround, not only on profit, but also on revenues. The Q1 gross profit was $34 million, up 10% year-over-year. Gross margin remained relatively stable at 65%.

Speaker #4: The first quarter gross profit was $34 million, up 10% year-over-year. Gross margin remained relatively stable at 65%. Total operating expenses in the first quarter increased 7% year-over-year to $33 million, of which fulfillment expenses increased by 5% to $4 million, reflecting the growth in top-line revenues.

Suhai Ji: Total operating expenses in Q1 increased 7% year-over-year to $33 million, of which fulfillment expenses increased by 5% to $4 million, reflecting the growth in top line revenues. Selling and marketing expenses increased by 13% to $25 million, while general and administrative expenses decreased by 15% to $4 million. Total operating expenses as a percentage of revenue decreased from 65% to 63%. Our net income in Q1 reached $1.2 million, compared to just $0.1 million in the same quarter last year, marking a record Q1 profit since 2022. Overall, we had a remarkable turnaround year in 2025 and are continuing the progress and momentum going into 2026, as reflected in our Q1 results. We remain confident that 2026 will be another successful record-setting year.

Speaker #4: Selling and marketing expenses increased by 13% to $25 million, while general and administrative expenses decreased by 15% to $4 million. Total operating expenses, as a percentage of revenue, decreased from $65% to $63%.

Suhai Ji: Total operating expenses as a percentage of revenue decreased from 65% to 63%. Our net income in Q1 reached $1.2 million, compared to just $0.1 million in the same quarter last year, marking a record Q1 profit since 2022.

Speaker #4: Our net income in the first quarter reached $1.2 million, compared to just $0.1 million in the same quarter last year. Market record first quarter profit since 2022.

Speaker #4: The overall, we had a remarkable turnaround year in 2025 and a continuing progress and momentum going into 2026, as reflected in our Q1 results.

Suhai Ji: Overall, we had a remarkable turnaround year in 2025 and are continuing the progress and momentum going into 2026, as reflected in our Q1 results. We remain confident that 2026 will be another successful record-setting year.

Speaker #4: We remain confident that 2026 will be another successful record-setting year. This concludes my remarks and we are now open to your questions. So operators, please continue.

Suhai Ji: This concludes my remarks, and we're now open to your questions. Operator, please continue.

Speaker #2: Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two.

Suhai Ji: Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you're on a speakerphone, please pick up the handset to ask your question. Once again, please press star one on your telephone if you wish to ask a question. We'll now pause a moment to allow for any questions to register. There are no questions at this time. I'll now hand back to Hanhua Wang for closing remarks.

Operator: Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you're on a speakerphone, please pick up the handset to ask your question.

Speaker #2: If you're on a speakerphone, please pick up the headset to ask your question. Once again, please press star one on your telephone if you wish to ask a question.

Operator: Once again, please press star one on your telephone if you wish to ask a question. We'll now pause a moment to allow for any questions to register. There are no questions at this time. I'll now hand back to Miss Huang for closing remarks.

Speaker #2: We'll now pause a moment to allow the staff for any questions to register. There are no questions at this time. I'll now hand back to Ms. Wong for closing remarks.

Speaker #5: Thank you once again for joining us today. If you have further questions, please feel free to contact LightInTheBox Investor Relations through the contact information provided on our website.

Serena Huang: Thank you once again for joining us today. If you have further questions, please feel free to contact LightInTheBox investor relations through the contact information provided on our website. Have a great day.