Poshmark posts Q2 sales growth of 9 percent

Poshmark, Inc. posted net revenues of 89.1 million dollars in the second quarter of 2022, which is a 9 percent year-over-year increase from the second quarter of 2021.

Gross merchandise value (GMV) grew 8 percent to 483.5 million dollars, up from 449.6 million dollars in the same period last year.

“We reported a strong quarter despite a tough consumer environment due to our focus on execution and are pleased that our results exceeded our initial expectations,” said Manish Chandra, founder and CEO of Poshmark.

For the trailing 12 months, the company’s active buyers reached 8 million, a 14 percent year-over-year increase from 7 million in the second quarter of 2021.

Adjusted EBITDA was negative 9.8 million dollars which decreased from 6.5 million dollars, while adjusted EBITDA margin was negative 11 percent in the second quarter.

GAAP net loss per share attributable to common stockholders was 29 cents compared to 3 cents in the second quarter of 2021.

For the third quarter, the company has provided expected revenue range of 85 million dollars to 87 million dollars and adjusted EBITDA range of negative 9 million dollars to negative 11 million dollars.