October Total and E-commerce Net Revenue Up
241% and 136%, Respectively
Near-Break Even Q3 2021 Adjusted EBITDA of
($166,851)
MONTREAL, Nov. 9, 2021 /CNW/ - LXRandCo, Inc. (LXR
or the Company) (TSX: LXR) (TSX: LXR.WT), a North American,
digital-first omni-channel retailer of authenticated pre-owned
luxury handbags and personal accessories, today provided a
financial update, which includes total net revenue and e-commerce
net revenue estimates for the month of October 2021, estimates for the year-to-date
(YTD) and the latest twelve months (LTM)
periods ending October 31, 2021.
The Company also provided preliminary estimates for Adjusted
EBITDA1 for the third quarter ended September 30, 2021 (Q3 2021).
Monthly and YTD Total and E-Commerce Net
Revenue2
In October
2021, the Company realized total net revenue of $2.1 million, including e-commerce net revenue of
$1.1 million, which represented
growth of 241% and 136%, respectively, over the same period last
year. For the YTD ten-month period ending October 31, 2021, the Company realized total net
revenue of $13.8 million, including
e-commerce net revenue of $7.8
million, which represented an increase of 25% and 146%,
respectively, over the same period last year.
October marked the eighth consecutive month of double-digit
revenue growth. In addition, e-commerce net revenue in October
crossed the million-dollar monthly level for the first time ever.
The following table summarizes 2021 year-to-date total and
e-commerce monthly net revenue as compared to comparable periods in
2020:
|
Total Net
Revenue
|
|
E-commerce Net
Revenue
|
|
($000s)
|
2021
|
2020
|
|
2021
|
2020
|
|
|
B/(W)
|
|
|
B/(W)
|
|
January
|
491
|
-74%
|
|
491
|
61%
|
|
February
|
600
|
-80%
|
|
455
|
30%
|
|
March
|
1,511
|
24%
|
|
627
|
96%
|
|
April
|
1,190
|
444%
|
|
975
|
445%
|
|
May
|
1,440
|
240%
|
|
899
|
155%
|
|
June
|
1,396
|
77%
|
|
649
|
140%
|
|
July
|
1,401
|
22%
|
|
833
|
240%
|
|
August
|
1,555
|
29%
|
|
844
|
196%
|
|
September
|
2,031
|
304%
|
|
831
|
134%
|
|
October
|
2,146
|
241%
|
|
1,150
|
136%
|
|
October
YTD
|
$13,762
|
25%
|
|
$7,752
|
146%
|
|
_____________
|
|
1 Adjusted
EBITDA, a non-IFRS measure means adjusted net income, or adjusted
net loss, as the case may be, before amortization and depreciation
expenses, finance costs and income tax expense.
|
|
2 Note actual
revenue and growth metrics may change non-materially from the
above, due to accounting adjustments at quarter and year-end in
public disclosures.
|
Quarterly and LTM Total and E-commerce Net Revenue
History
On an October 2021 LTM basis, the
Company had total net revenue of $16.5
million and e-commerce net revenue was $9.0 million, representing e-commerce penetration
of 54% of total net revenue. The following table provides
historical quarterly and LTM total net revenue and e-commerce net
revenue:
|
Total Net
Revenue
|
E-Commerce Net
Revenue
|
|
E-Commerce
Penetration
|
|
Actuals
($):
|
Quarterly
|
LTM
|
|
Quarterly
|
LTM
|
|
LTM
|
|
Q1 2019
|
8,756,063
|
38,982,959
|
|
604,023
|
2,294,094
|
|
6%
|
|
Q2 2019
|
8,558,435
|
38,254,627
|
|
959,525
|
2,654,334
|
|
7%
|
|
Q3 2019
|
8,314,615
|
36,493,740
|
|
985,288
|
3,057,856
|
|
8%
|
|
Q4 2019
|
14,440,173
|
40,069,286
|
|
1,175,652
|
3,724,488
|
|
9%
|
|
Q1 2020
|
6,097,604
|
37,410,827
|
|
975,592
|
4,096,057
|
|
11%
|
|
Q2 2020
|
1,430,284
|
30,282,676
|
|
802,658
|
3,939,190
|
|
13%
|
|
Q3 2020
|
2,857,718
|
24,825,779
|
|
885,669
|
3,839,571
|
|
15%
|
|
Q4 2020
|
3,391,813
|
13,777,419
|
|
1,715,804
|
4,379,723
|
|
32%
|
|
Q1 2021
|
2,602,071
|
10,281,886
|
|
1,572,640
|
4,976,771
|
|
48%
|
|
Q2 2021
|
4,026,028
|
12,877,630
|
|
2,522,682
|
6,696,795
|
|
52%
|
|
Q3 2021
|
4,987,628
|
15,007,540
|
|
2,506,850
|
8,317,976
|
|
55%
|
|
Oct.
2021
|
|
16,525,437
|
|
|
8,980,888
|
|
54%
|
|
Target Q4
and
FY
2021
|
|
18,000,000—
20,000,000
|
|
|
|
|
50%—65%
|
|
|
|
|
|
|
|
|
|
|
Q3 2021 Preliminary Adjusted EBITDA Outlook
The
Company expects to attain near-break even financial performance in
Q3 2021, one quarter earlier than anticipated. Preliminary Adjusted
EBITDA for Q3 2021 is expected to be a loss of $166,851, as compared to a loss of $1.149 million in the same period last year. The
Company will announce Q3 2021 results on November 11. 2021.
FY 2021 Outlook
The Company's total net revenue
target for FY 2021 is between $18
million and $20 million
(previously $17.5 and $20 million).
About LXR
LXRandCo is a socially responsible,
digital-first omni-channel retailer of authenticated pre-owned
luxury handbags and personal accessories. Since 2010, we have been
providing consumers with authenticated branded luxury products by
promoting their reuse and providing an environmentally responsible
way for consumers to purchase luxury products. We achieve this
through our digital-first strategy by selling directly to consumers
through our website at www.lxrco.com and indirectly, by
powering the e-commerce and other platforms of key channel
partners. Our omni-channel model is also supported by retail
'shop-in-shop' experience centers and by wholesale activities with
select retail partners across North America. For further
information, please contact:
SOURCE LXRandCo, Inc.