CarParts.com, Inc. reports financial results for the fourth quarter and fiscal year ended December 28, 2024. Fiscal year 2024 saw a decrease in net sales, gross profit, and an increase in net loss compared to fiscal year 2023. The company launched new initiatives such as a mobile app with over 800,000 downloads, a Las Vegas distribution center, and a re-platformed website. The CEO, David Meniane, highlighted the company’s efforts to drive profitability and sustainable growth amidst challenging economic conditions. Net sales and gross profit declined in the fourth quarter of 2024 compared to the year-ago quarter, leading to a higher net loss. The company is evaluating strategic alternatives and not providing guidance for 2025. CEO David Meniane and CFO Ryan Lockwood will host a conference call to discuss the results on March 25, 2025. CarParts.com, Inc. is a technology-driven eCommerce company offering automotive parts and accessories with a focus on customer satisfaction and affordability. Adjusted EBITDA is a non-GAAP financial measure that includes net loss before interest (income) expense, income tax provision, depreciation and amortization expense, amortization of intangible assets, share-based compensation expense, workforce transition costs, and distribution center costs. The Company believes that these measures provide valuable supplemental information to both management and investors, offering a different perspective on the Company’s operations. Management uses Adjusted EBITDA to compare operating performance consistently and to remove the impact of certain expenses that are not reflective of ongoing operations. These measures are also used for planning, resource allocation, and evaluating operational strategies. Additionally, analysts and investors may use these non-GAAP measures to assess the ongoing operations of companies in the industry.
It is important to note that non-GAAP financial measures should be used in conjunction with GAAP results and not relied upon exclusively. The Company encourages investors to review the consolidated financial statements in their entirety. Due to the non-standardized nature of non-GAAP financial measures, comparisons with other companies may be challenging. The Company anticipates continuing to incur similar expenses, and exclusion of these items from non-GAAP measures does not imply that these costs are unusual or non-recurring.
The press release contains forward-looking statements based on current expectations, estimates, and assumptions. These statements are intended to fall within the safe harbor provisions of relevant securities acts. The Company does not guarantee future performance and acknowledges risks and uncertainties that could impact actual results. Factors such as competition, market demand, economic conditions, pricing fluctuations, and regulatory restrictions may affect the Company’s performance. It is important to review the Company’s SEC filings for a comprehensive understanding of potential risks and factors affecting future results. Please provide the content that needs to be rewritten.
