Business/Financial Results (Form 8-K)

1stDibs Reports Fourth Quarter and Full Year 2025 Financial Results

New York, NY - February 27, 2026 - 1stdibs.com, Inc. (NASDAQ: DIBS), a leading online marketplace for luxury design products ("1stDibs" or the "Company"), today reported financial results for its fourth quarter and year ended December 31, 2025.

Fourth Quarter 2025 Financial Highlights

•Net revenue was $23.0 million, an increase of 1% year-over-year.

•Gross profit was $16.9 million, an increase of 3% year-over-year.

•Gross margin was 73.5%, compared to 72.3% in the fourth quarter 2024.

•GAAP net loss was $1.0 million compared to a net loss of $5.2 million in the fourth quarter 2024.

•Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin was $1.3 million and 5.6%, respectively, compared to $(1.6) million and (7.2)%, respectively, in the fourth quarter 2024.

•Cash, cash equivalents and short-term investments totaled $95.0 million as of December 31, 2025.

Full Year 2025 Financial Highlights

•Net revenue was $89.6 million, an increase of 2% year-over-year.

•Gross profit was $65.4 million, an increase of 3% year-over-year.

•Gross margin was 73.0%, compared to 71.9% in the year ended December 31, 2024.

•GAAP net loss was $13.7 million, compared to $18.6 million in the year ended December 31, 2024.

•Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin was $(2.4) million and (2.7)%, respectively, compared to $(8.0) million and (9.1)%, respectively, in the year ended December 31, 2024.

"2025 was a year of accountability and execution, culminating in our first quarter of positive Adjusted EBITDA as a public company," said David Rosenblatt, 1stDibs CEO. "While our top-line results reflect a challenging macro backdrop, our bottom line performance demonstrates the power of our strategic realignment and the strength of our brand. We enter 2026 focused on accelerating top-line growth, supported by a high-impact product roadmap designed to deepen our lead in the luxury market."

"Our fourth quarter performance highlights the significant operating leverage inherent in our asset-light marketplace," said Tom Etergino, 1stDibs Chief Financial Officer. "Through disciplined cost management and improved monetization, we achieved a meaningful Adjusted EBITDA inflection despite a constrained top-line environment. We exited 2025 with a structurally leaner cost base and high conviction in our 2026 plan, which targets positive full-year Adjusted EBITDA and free cash flow."

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Other Recent Business Highlights and Fourth Quarter Key Operating Metrics

•Gross Merchandise Value ("GMV") was $90.2 million, a decrease of 5% year-over-year.

•Number of Orders was approximately 33K, a decrease of 9% year-over-year.

•Active Buyers was approximately 61K, a decrease of 5% year-over-year.

Financial Guidance and Outlook

The Company's first quarter 2026 guidance is below.

			Q1 2026 Guidance
GMV			$86.5 million - $91.5 million
Net revenue			$22.1 million - $23.1 million
Adjusted EBITDA margin (non-GAAP)			0% - 4%

Actual results may differ materially from our Financial Guidance and Outlook as a result of, among other things, the factors described under "Forward-Looking Statements" below.

A GAAP reconciliation to our non-GAAP guidance measure (adjusted EBITDA) is not available on a forward-looking basis without unreasonable effort due to the potential variability and uncertainty of expenses that may be incurred in the future. Stock-based compensation expense is impacted by the timing of employee stock transactions, the future fair market value of our common stock, and our future hiring and retention needs, all of which are difficult to predict and subject to change. We have provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for our historical non-GAAP financial results included in this press release.

Webcast Information

1stDibs will host a webcast to discuss its fourth quarter and year ended 2025 financial results today at 8:00 a.m. Eastern Time. Investors and participants can access the webcast at the 1stDibs Investor Relations website (investors.1stdibs.com). A replay of the webcast will be available through the same link following the webcast, for one year thereafter.

Disclosure Information

In compliance with disclosure obligations under Regulation FD, 1stDibs announces material information to the public through a variety of means, including filings with the Securities and Exchange Commission, press releases, company blog posts, public conference calls and webcasts, as well as the investor relations website.

Final Results

The financial results discussed herein are presented on a preliminary basis; final data will be included in 1stDibs's Annual Report on Form 10−K for the period ended December 31, 2025.

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About 1stDibs

1stDibs is a leading online marketplace for connecting design lovers with highly coveted sellers and makers of vintage, antique, and contemporary furniture, home décor, art, jewelry, watches and fashion.

Investor Relations Contact:

Kevin LaBuz

[email protected]

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