Poshmark posts increase in Q4 revenue and GMV

Poshmark, Inc., a social marketplace for new and secondhand style, posted net revenues of 84.2 million dollars in the fourth quarter of 2021, up 22 percent over the fourth quarter of 2020. Gross merchandise value (GMV) grew 27 percent to 490.8 million dollars for the quarter.

Full year GMV was 1.8 billion dollars, an increase of 27 percent over the prior year, while net revenue was 326 million dollars, up 25 percent.

“We had a strong finish to a historic year for Poshmark with record GMV and revenues. Despite a very unpredictable and volatile environment globally, we delivered our second year of adjusted EBITDA profitability and positive free cash flow during our first year as a public company,” said Manish Chandra, founder and CEO of Poshmark.

Q4 and full year highlights of Poshmark’s performance

For the fourth quarter, active buyers reached 7.6 million, a 17 percent increase from 6.5 million in the fourth quarter of 2020.

Adjusted EBITDA was negative 4.7 million dollars, which decreased from 4.8 million dollars in the fourth quarter of 2020, while adjusted EBITDA margin was negative 5.5 percent.

Full year adjusted EBITDA was 7.3 million dollars which decreased from 36 million dollars in 2020, while adjusted EBITDA margin was 2.2 percent in 2021.

GAAP net loss per share for the quarter was 19 cents, compared to loss of 25 cents in the fourth quarter of 2020. GAAP diluted net loss per share for the full year was 1.35 dollars compared to earnings per share of 33 cents in 2020.

For the first quarter of 2022, the company expects revenue in the range of 86 million to 88 million dollars and adjusted EBITDA in the range of negative 7 million to negative 9 million dollars.