Luxury online marketplace 1stDibs said net revenue increased 4% year-over-year reaching $88.3 million in 2024, on the back of a strong fourth quarter. 

For the fourth quarter ended December 31, 2024, the New York-based company said net revenue increased 9%, to $22.8 million. 

The company’s gross profit rose to $16.5 million, marking a 10% increase from the same period in 2023. Gross margin improved to 72.3%, up from 71.5% in the previous year’s fourth quarter.

However, the company recorded a GAAP net loss of $5.2 million, compared to a net loss of $2.9 million in the fourth quarter of 2023.

1stDibs reported an increase in the number of orders for Q4, jumping 7% year-over-year to 37,000. Active Buyers was approximately 64,000, an increase of 6% year-over-year.

For the year, the company reported a loss of $18.6 million, or $0.49 per share.

“2024 marked a turning point, highlighted by our highest GMV growth in three years in the fourth quarter,” said David Rosenblatt, 1stDibs chief executive officer.

“Market share gains and a return to revenue growth in 2024 despite a challenging market are clear signals that our strategy is working. We’re excited to continue driving progress in 2025.”

Tom Etergino, chief financial officer added, “We achieved significant progress in 2024, reducing operating expenses for the second consecutive year and delivering our strongest Adjusted EBITDA margins since becoming a public company. As we enter 2025, our focus remains on driving operating leverage and maintaining disciplined expense management.”

Looking ahead, 1stDibs projects gross merchandise value of $90 million to $96 million for the first quarter of 2025, with a guidance of net revenue between $21.7 million and $22.8 million and adjusted EBITDA down 12% to 8%.