CafePress is the world's best online
gift shop that has the perfect item for every passion. Our catalog of
more than 1 billion uniquely designed products - ranging from apparel
to drinkware and home décor - allows our customers to express
themselves and connect with others by bringing passions to life through
unique items. In addition, our interactive design tools allow customers
to personalize items or create their own unique items. CafePress was
founded in 1999 and is headquartered in Louisville, Kentucky
May 2, 2017
CafePress Reports Results for First Quarter 2017
8% Year-over-Year Increase in Total Order Volume
Ky., May 02, 2017 (GLOBE NEWSWIRE) -- CafePress Inc. (NASDAQ:PRSS)
today reported financial results for the three months ended March 31,
first quarter was highlighted by an 8% year-over-year increase in total
orders, which is our third consecutive quarter of year-over-year growth
in volume. Our total revenue for the quarter was down 1%
year-over-year due to the combination of an increasingly competitive
online retail environment and more challenging comparisons from the
Presidential primary season a year ago," commented Fred Durham, Chief
is a leading destination for unique content and products that inspire
meaningful connections. We are continuing to optimize the
business and our technology, and are acutely focused on re-energizing
our brand, merchandising, and customer experience. We recently
began expanding our product line, adding even more high-quality,
inspirational merchandise to our assortment. Our goal is to
inspire human connection, and as the year progresses, we plan to give
our customers even more ways to connect with others and express
themselves through engaging merchandise," concluded Durham.
First Quarter 2017 Financial Highlights
Net revenue totaled $18.3 million, down 1% compared to $18.5 million in the first quarter of 2016.
Gross profit margin was 38.1% of net revenue, compared to 42.5% in the first quarter of 2016.
net loss was $(3.4) million, or $(0.20) per diluted share, compared to
a net loss of $(3.0) million, or $(0.18) per diluted share, in the
first quarter of 2016.
Adjusted EBITDA was $(1.9) million, compared to Adjusted EBITDA of
$(1.6) million in the first quarter of 2016. Prior year Non-GAAP
Adjusted EBITDA benefited from a $0.3 million one-time reduction in
Non-GAAP Cash Contribution margin was 23.5% of net revenue, compared to 28.3% in the first quarter of 2016.
At March 31, 2017, cash, cash equivalents, and short-term investments totaled $33.4 million, or approximately $2.01 per share.
First Quarter 2017 Operating Metrics
Orders totaled 0.6 million, an 8% year-over-year increase.
Average Order Value (AOV) was $31.59, an 8% year-over-year decline.
First Quarter 2017 Conference Call
will review the first quarter 2017 financial results on a conference
call on Tuesday, May 2, 2017 at 5:00 p.m. Eastern Time. To participate
on the live call, analysts and investors should dial 1-877-397-0272 or
719-325-4765 at least ten minutes prior to the call. CafePress will
also offer a live and archived webcast of the conference call,
accessible from the "Investors" section of the Company's Web site at
Non-GAAP Financial Information
press release contains certain non-GAAP financial measures. Tables are
provided at the end of this press release that reconcile the non-GAAP
financial measures to the most directly comparable financial measures
prepared in accordance with Generally Accepted Accounting Principles
(GAAP). These non-GAAP financial measures include Adjusted EBITDA and
cash contribution margin. For a reconciliation of these non-GAAP
financial measures to the most directly comparable GAAP measures,
please see the information provided at the end of this press release.
supplement the Company's consolidated financial statements presented on
a GAAP basis, we believe that these non-GAAP measures provide useful
information about the Company's core operating results and thus are
appropriate to enhance the overall understanding of the Company's past
financial performance and its prospects for the future. These
adjustments to the Company's GAAP results are made with the intent of
providing both management and investors a more complete understanding
of the Company's underlying operational results and trends and
performance. Management uses these non-GAAP measures to evaluate the
Company's financial results, develop budgets, manage expenditures, and
determine employee compensation. The presentation of additional
information is not meant to be considered in isolation or as a
substitute for or superior to net income (loss) or net income (loss)
per share determined in accordance with GAAP.