Poshmark's Q3 revenues increase 11 percent

Poshmark, Inc., a social marketplace for new and secondhand style, posted net revenues of 88.4 million dollars in the third quarter of 2022, up 11 percent from the third quarter of 2021.

Gross Merchandise Value (GMV) grew 7 percent to 475.6 million dollars. GAAP net loss per share was 30 cents compared to 9 cents in the third quarter of 2021.

“We reported another strong quarter and are pleased that our results exceeded our initial expectations, despite a tough consumer environment. In October, we announced our acquisition by Naver Corp. and are excited to partner with them as we take Poshmark into its next phase of growth,” said Manish Chandra, founder and CEO of Poshmark.

In the trailing 12 months, Poshmark’s active buyers reached 8.2 million, a 13 percent increase from 7.3 million in the third quarter of 2021.

Adjusted EBITDA was negative 8 million dollars which decreased from 0.6 million dollars in the third quarter of 2021 and adjusted EBITDA margin was negative 9 percent in the third quarter of 2022.