Shares of online marketplace for luxury design products 1stdibs.Com, Inc. (DIBS) are falling more than 21% in the morning trade on Wednesday following fourth quarter results.
Net loss for the quarter widened to $8.1 million from net loss of $1.6 million in the same quarter a year ago.
Loss per share narrowed to $0.21 per share compared with loss of $0.49 per share as number of shares increased, but missed the average estimate of 5 analysts polled by Thomson Reuters of $0.17 per share.
Revenue for the quarter increased 13% year-over-year to $26.9 million. The consensus estimate was for $26.97 million.
Looking forward, the company expects revenue to be in the range of $26.4 million - $27.0 million in the first quarter. Analysts expect revenue of $27.67 million for the quarter.
DIBS touched a new low of $6.49 this morning, before edging up to $8.08 currently.
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