第99.1展示文本
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投資者聯繫人: 安迪·米勒沃伊 amilevoj@1800flowers.com |
媒體聯繫人: 切麗·加拉雷洛 cgallarello@1800flowers.com |
1-800-flowers.com公司報告2025財年第一季度業績
公司收入爲24210萬美元，淨虧損爲3420萬美元。
毛利潤率增加20個點子，達到38.1%
調整後的EBITDA報告(1) 損失2790萬美元
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(1) |
請參閱 “非GAAP財務指標定義”請查看本新聞稿末尾附表，以便將非通用會計原則結果與適用的通用會計原則結果進行調和。 |
2024年10月31日，紐約傑里科 - 1-800-flowers.com公司（納斯達克股票代碼：FLWS），作爲領先的禮品提供商，旨在激勵顧客更多地給予、更多地聯繫和建立更多更好的關係，今天報告了截至2024年9月29日的財政2025財年第一季度業績。
「我們第一季度的表現基本符合我們的預期，在本季度我們開始看到電子商務營業收入趨勢輕微改善，我們的毛利潤率繼續增長，並且由於我們的工作更智能措施而降低了費用，」1-800-flowers.com公司的董事長兼首席執行官吉姆·麥凱恩說。「我們預計電子商務營業收入趨勢的改善將隨着我們接近假日銷售季節而加速，我們的營業收入還將受益於今年批發訂單的增長。通過我們在過去兩年實施的關係創新舉措，我們擴大了我們的產品系列並拓寬了我們的價格範圍，爲送禮者提供從價格實惠到高端的更多選擇。我們期待幫助我們的客戶與他們生活中重要的人建立聯繫並表達他們的情感。」
2025財政年度第一季度亮點
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總合並營收同比下降10.0%，爲24210萬美元，低於去年同期。 |
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電子商務收入同比下降8.0%，其中訂單量下降6.5%，平均訂單價值下降1.5%。 |
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毛利潤率上升了20個點子，達到38.1%，與上一年同期相比。 |
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營業費用下降了$20萬至$13930萬，與上年同期相比。在不考慮與新系統實施成本相關的本期非經常性費用以及公司在兩個期間都涉及的非合格遞延薪酬計劃的影響下，與上年同期相比，營業費用減少了$4百萬至$13580萬。 |
1-800-flowers.com公司 | 2025財年第一季度業績 | 第1頁
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本季度淨虧損爲3420萬美元，每股虧損爲（$0.53），相比上年同期的淨虧損3120萬美元，每股虧損爲（$0.48）。 |
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調整淨損失1淨損失爲3290萬美元，每股虧損0.51美元，與調整後的淨損失相比1爲3120萬美元，每股虧損0.48美元，在前一年同期。 |
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調整後的EBITDA1本季度虧損達2790萬美元，與調整後的EBITDA相比1去年同期虧損達2250萬美元。 |
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1-800-flowers.com 公司被評爲《新聞週刊》2025年最受推崇的工作場所之一。 |
細分市場結果
公司在本報告中提供了其美食禮籃、消費者花卉禮品和BloomNet®業務部門2025財年第一季度財務業績表格見附表和以下：
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美食和禮籃本季度營收同比下降14.4%，達到8400萬美元，這一下降反映了大約300萬美元的批發訂單從第一季度轉移到第二季度的時間安排。毛利潤率增加了50個點子，達到32.0%，受益於公司的庫存優化工作以及某些商品成本的下降。除去系統實施成本的影響，調整後的部門貢獻毛利潤。1虧損爲1130萬美元，而上年同期虧損爲1100萬美元。 |
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消費者花卉禮品本季度收入同比下降4.9%，降至13520萬美元，毛利潤率提高了30個點子，達到39.9%。部門貢獻利潤1爲490萬美元，與上一年同期的880萬美元相比。 |
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BloomNet季度營業收入下降了20.1%，至2310萬美元，與去年同期相比。營業收入和毛利率受到BloomNet處理的較低利潤訂單數量減少的影響。由於銷售量較低導致槓桿效應降低，毛利率下降了20個點子，至50.0%。業務部門貢獻毛利爲1爲680萬美元，而去年同期爲940萬美元。 |
公司指引
對於2025財年，公司預計其營業收入趨勢將隨着財年的進行而改善，這得益於公司的關係創新舉措，拓展了公司的產品範圍，擴大了價格區間，增強了用戶體驗，再加上增加的營銷支出。調整後的EBITDA區間反映了對消費環境仍不確定的認識。
1-800-flowers.com，Inc. | 2025財年第一季度成果 | 第2頁
因此，截至2025財年，公司仍然預計：
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總收入在區間內爲持平至低個位數的下降，相較於去年； |
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調整後的EBITDA1在8500萬美元至9500萬美元的區間內 |
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自由現金流1在4500萬到5500萬美元的區間內。 |
公司將於2024年3月27日下午5點（美國東部時間）舉行電話會議，討論截至2023年12月31日的第四季度和全年業績。
公司將於2024年10月31日上午8:00（東部時間）舉行電話會議，討論上述細節和附加財務結果。電話會議將從公司網站的投資者部分www.1800flowersinc.com 進行網絡直播。電話會議的錄音將在會議完成後兩小時內發佈在公司網站的投資者部分。電話會議的重放可以在今天下午2:00（東部時間）開始至2024年11月7日訪問：（美國）1-877-344-7529；（加拿大）855-669-9658；（國際）1-412-317-0088；輸入會議ID號碼：1727189。
非依照美國通用會計準則（GAAP）的財務指標定義：
我們有時會使用從合併財務信息衍生出的財務指標，但這些指標在我們按照美國通用會計準則（「GAAP」）編制的基本報表中沒有呈現。根據美國證券交易委員會規定，其中一些被視爲「非GAAP財務指標」。本文件中提到的非GAAP財務指標要麼被標記爲「非GAAP」，要麼通過「1」指定爲此類財務指標。在適用的情況下，請參閱下文的定義以及我們使用這些非GAAP財務指標的原因。請在下文中查看選定的財務信息，以將這些非GAAP指標與它們最直接可比的GAAP財務指標進行對照。由於目前關於前瞻性數字的和解工作需要不合理的努力，原因是由於各種必需的GAAP元件的性質和金額存在的不確定性和變化性，包括但不限於與補償、稅收項目、攤銷或其他可能在本年度出現的元件有關，而且公司管理層認爲這樣的和解將會表明一種會令投資者感到困惑或誤導的精確度。出於同樣的原因，公司無法說明這些不可用信息的可能重要性。在評估此類披露的影響時，應考慮缺少這種和解信息的情況。
EBITDA and Adjusted EBITDA:
We define EBITDA as net income (loss) before interest, taxes, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA adjusted for the impact of stock-based compensation, Non-Qualified Plan Investment appreciation/depreciation, and for certain items affecting period-to-period comparability. See Selected Financial Information for details on how EBITDA and Adjusted EBITDA were calculated for each period presented. The Company presents EBITDA and Adjusted EBITDA because it considers such information meaningful supplemental measures of its performance and believes such information is frequently used by the investment community in the evaluation of similarly situated companies. The Company uses EBITDA and Adjusted EBITDA as factors to determine the total amount of incentive compensation available to be awarded to executive officers and other employees. The Company's credit agreement uses EBITDA and Adjusted EBITDA to determine its interest rate and to measure compliance with certain covenants. EBITDA and Adjusted EBITDA are also used by the Company to evaluate and price potential acquisition candidates. EBITDA and Adjusted EBITDA have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Some of the limitations are: (a) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, the Company's working capital needs; (b) EBITDA and Adjusted EBITDA do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on the Company's debts; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future and EBITDA does not reflect any cash requirements for such capital expenditures. EBITDA and Adjusted EBITDA should only be used on a supplemental basis combined with GAAP results when evaluating the Company's performance.
1-800-FLOWERS.COM, Inc. | Fiscal 2025 First Quarter Results | Page 3
Segment Contribution Margin and Adjusted Segment Contribution Margin
We define Segment Contribution Margin as earnings before interest, taxes, depreciation, and amortization, before the allocation of corporate overhead expenses. Adjusted Segment Contribution Margin is defined as Segment Contribution Margin adjusted for certain items affecting period-to-period comparability. See Selected Financial Information for details on how Segment Contribution Margin and Adjusted Segment Contribution Margin were calculated for each period presented. When viewed together with our GAAP results, we believe Segment Contribution Margin and Adjusted Segment Contribution Margin provide management and users of the financial statements meaningful information about the performance of our business segments. Segment Contribution Margin and Adjusted Segment Contribution Margin are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. The material limitation associated with the use of Segment Contribution Margin and Adjusted Segment Contribution Margin is that they are an incomplete measure of profitability as they do not include all operating expenses or non-operating income and expenses. Management compensates for this limitation when using these measures by looking at other GAAP measures, such as Operating Income and Net Income.
Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share:
We define Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share as Net Income (Loss) and Net Income (Loss) Per Common Share adjusted for certain items affecting period-to-period comparability. See Selected Financial Information below for details on how Adjusted Net Income (Loss) Per Common Share and Adjusted or Comparable Net Income (Loss) Per Common Share were calculated for each period presented. We believe that Adjusted Net Income (Loss) and Adjusted or Comparable Net Income (Loss) Per Common Share are meaningful measures because they increase the comparability of period-to-period results. Since these are not measures of performance calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, GAAP Net Income (Loss) and Net Income (Loss) Per Common Share, as indicators of operating performance and they may not be comparable to similarly titled measures employed by other companies.
Free Cash Flow:
We define Free Cash Flow as net cash provided by operating activities less capital expenditures. The Company considers Free Cash Flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of fixed assets, which can then be used to, among other things, invest in the Company’s business, make strategic acquisitions, strengthen the balance sheet, and repurchase stock or retire debt. Free Cash Flow is a liquidity measure that is frequently used by the investment community in the evaluation of similarly situated companies. Since Free Cash Flow is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation or as a substitute for analysis of the Company's results as reported under GAAP. A limitation of the utility of Free Cash Flow as a measure of financial performance is that it does not represent the total increase or decrease in the Company's cash balance for the period.
1-800-FLOWERS.COM, Inc. | Fiscal 2025 First Quarter Results | Page 4
About 1-800-FLOWERS.COM, Inc.
1-800-FLOWERS.COM, Inc. is a leading provider of gifts designed to help inspire customers to give more, connect more, and build more and better relationships. The Company’s e-commerce business platform features an all-star family of brands, including: 1-800-Flowers.com®, 1-800-Baskets.com®, Cheryl’s Cookies®, Harry & David®, PersonalizationMall.com®, Shari’s Berries®, FruitBouquets.com®, Things Remembered®, Moose Munch®, The Popcorn Factory®, Wolferman’s Bakery®, Vital Choice®, Simply Chocolate® and Scharffen Berger®. Through the Celebrations Passport® loyalty program, which provides members with free standard shipping and no service charge on eligible products across our portfolio of brands, 1-800-FLOWERS.COM, Inc. strives to deepen relationships with customers. The Company also operates BloomNet®, an international floral and gift industry service provider offering a broad-range of products and services designed to help members grow their businesses profitably; Napco℠, a resource for floral gifts and seasonal décor; DesignPac Gifts, LLC, a manufacturer of gift baskets and towers; Alice’s Table®, a lifestyle business offering fully digital livestreaming and on demand floral, culinary and other experiences to guests across the country; and Card Isle®, an e-commerce greeting card service. 1-800-FLOWERS.COM, Inc. was recognized among America’s Most Trustworthy Companies by Newsweek. 1-800-FLOWERS.COM, Inc. was also recognized as one of America’s Most Admired Workplaces for 2025 by Newsweek and was named to the Fortune 1000 list in 2022. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS. For more information, visit 1800flowersinc.com.
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FLWS–COMP FLWS-FN |
Special Note Regarding Forward Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company’s current expectations or beliefs concerning future events and can generally be identified using statements that include words such as “estimate,” “expects,” “project,” “believe,” “anticipate,” “intend,” “plan,” “foresee,” “forecast,” “likely,” “should,” “will,” “target” or similar words or phrases. These forward-looking statements are subject to risks, uncertainties, and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to, statements regarding the Company’s ability to achieve its guidance for the full Fiscal year; the Company’s ability to leverage its operating platform and reduce its operating expense ratio; its ability to successfully integrate acquired businesses and assets; its ability to successfully execute its strategic initiatives; its ability to cost effectively acquire and retain customers; the outcome of contingencies, including legal proceedings in the normal course of business; its ability to compete against existing and new competitors; its ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; its ability to reduce promotional activities and achieve more efficient marketing programs; and general consumer sentiment and industry and economic conditions that may affect levels of discretionary customer purchases of the Company’s products. The Company undertakes no obligation to publicly update any of the forward-looking statements, whether because of new information, future events or otherwise, made in this release or in any of its SEC filings. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. For a more detailed description of these and other risk factors, refer to the Company’s SEC filings, including the Company’s Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q.
1-800-FLOWERS.COM, Inc. | Fiscal 2025 First Quarter Results | Page 5
Note: The following tables are an integral part of this press release without which the information presented in this press release should be considered incomplete.
1-800-FLOWERS.COM, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands)
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September 29, 2024 |
June 30, 2024 |
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(unaudited) |
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Assets |
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Current assets: |
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Cash and cash equivalents |
$ | 8,407 | $ | 159,437 | ||||
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Trade receivables, net |
41,024 | 18,024 | ||||||
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Inventories |
275,323 | 176,591 | ||||||
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Prepaid and other |
60,960 | 31,680 | ||||||
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Total current assets |
385,714 | 385,732 | ||||||
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Property, plant and equipment, net |
225,239 | 223,789 | ||||||
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Operating lease right-of-use assets |
112,926 | 113,926 | ||||||
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Goodwill |
156,648 | 156,537 | ||||||
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Other intangibles, net |
115,531 | 116,216 | ||||||
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Other assets |
38,566 | 36,448 | ||||||
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Total assets |
$ | 1,034,624 | $ | 1,032,648 | ||||
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Liabilities and Stockholders' Equity |
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Current liabilities: |
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Accounts payable |
$ | 63,732 | $ | 80,005 | ||||
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Accrued expenses |
128,926 | 121,303 | ||||||
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Current maturities of long-term debt |
57,500 | 10,000 | ||||||
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Current portion of long-term operating lease liabilities |
16,836 | 16,511 | ||||||
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Total current liabilities |
266,994 | 227,819 | ||||||
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Long-term debt, net |
172,293 | 177,113 | ||||||
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Long-term operating lease liabilities |
104,398 | 105,866 | ||||||
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Deferred tax liabilities, net |
18,794 | 19,402 | ||||||
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Other liabilities |
38,728 | 36,106 | ||||||
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Total liabilities |
601,207 | 566,306 | ||||||
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Total stockholders’ equity |
433,417 | 466,342 | ||||||
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Total liabilities and stockholders’ equity |
$ | 1,034,624 | $ | 1,032,648 | ||||
1-800-FLOWERS.COM, Inc. | Fiscal 2025 First Quarter Results | Page 6
1-800-FLOWERS.COM, Inc. and Subsidiaries
Selected Financial Information
Consolidated Statements of Operations
(in thousands, except for per share data)
(unaudited)
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Three Months Ended |
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September 29, 2024 |
October 1, 2023 |
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Net revenues: |
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E-Commerce |
$ | 193,174 | $ | 209,911 | ||||
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Other |
48,916 | 59,139 | ||||||
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Total net revenues |
242,090 | 269,050 | ||||||
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Cost of revenues |
149,771 | 167,122 | ||||||
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Gross profit |
92,319 | 101,928 | ||||||
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Operating expenses: |
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Marketing and sales |
82,097 | 82,518 | ||||||
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Technology and development |
15,639 | 15,304 | ||||||
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General and administrative |
28,526 | 28,489 | ||||||
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Depreciation and amortization |
13,038 | 13,194 | ||||||
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Total operating expenses |
139,300 | 139,505 | ||||||
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Operating loss |
(46,981 | ) | (37,577 | ) | ||||
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Interest expense, net |
3,360 | 3,482 | ||||||
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Other (income)/expense, net |
(1,767 | ) | 474 | |||||
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Loss before income taxes |
(48,574 | ) | (41,533 | ) | ||||
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Income tax benefit |
(14,384 | ) | (10,291 | ) | ||||
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Net loss |
$ | (34,190 | ) | $ | (31,242 | ) | ||
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Basic and diluted net loss per common share |
$ | (0.53 | ) | $ | (0.48 | ) | ||
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Basic and diluted weighted average shares used in the calculation of net loss per common share |
64,198 | 64,785 | ||||||
1-800-FLOWERS.COM, Inc. | Fiscal 2025 First Quarter Results | Page 7
1-800-FLOWERS.COM, Inc. and Subsidiaries
Selected Financial Information
Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
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Three Months Ended |
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September 29, 2024 |
October 1, 2023 |
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Operating activities: |
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Net loss |
$ | (34,190 | ) | $ | (31,242 | ) | ||
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Adjustments to reconcile net loss to net cash provided by operating activities, net of acquisitions: |
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Depreciation and amortization |
13,038 | 13,194 | ||||||
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Amortization of deferred financing costs |
180 | 180 | ||||||
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Deferred income taxes |
(607 | ) | (579 | ) | ||||
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Bad debt expense |
84 | 586 | ||||||
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Stock-based compensation |
2,479 | 2,364 | ||||||
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Other non-cash items |
255 | 270 | ||||||
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Changes in operating items: |
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Trade receivables |
(23,025 | ) | (24,407 | ) | ||||
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Inventories |
(97,439 | ) | (89,287 | ) | ||||
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Prepaid and other |
(29,237 | ) | (14,764 | ) | ||||
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Accounts payable and accrued expenses |
(8,806 | ) | (42 | ) | ||||
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Other assets and liabilities |
27 | (157 | ) | |||||
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Net cash used in operating activities |
(177,241 | ) | (143,884 | ) | ||||
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Investing activities: |
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Acquisitions, net of cash acquired |
(3,000 | ) | - | |||||
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Capital expenditures |
(12,075 | ) | (6,974 | ) | ||||
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Net cash used in investing activities |
(15,075 | ) | (6,974 | ) | ||||
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Financing activities: |
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Acquisition of treasury stock |
(1,255 | ) | (74 | ) | ||||
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Proceeds from exercise of employee stock options |
41 | - | ||||||
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Proceeds from bank borrowings |
45,000 | 35,000 | ||||||
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Repayment of bank borrowings |
(2,500 | ) | (2,500 | ) | ||||
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Net cash provided by financing activities |
41,286 | 32,426 | ||||||
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Net change in cash and cash equivalents |
(151,030 | ) | (118,432 | ) | ||||
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Cash and cash equivalents: |
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Beginning of period |
159,437 | 126,807 | ||||||
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End of period |
$ | 8,407 | $ | 8,375 | ||||
1-800-FLOWERS.COM, Inc. | Fiscal 2025 First Quarter Results | Page 8
1-800-FLOWERS.COM, Inc. and Subsidiaries
Selected Financial Information – Category Information
(dollars in thousands)
(unaudited)
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Three Months Ended |
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September 29, 2024 |
System Implementation Costs |
As Adjusted (non-GAAP) September 29, 2024 |
October 1, 2023 |
% Change |
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Net revenues: |
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Consumer Floral & Gifts |
$ | 135,180 | $ | 135,180 | $ | 142,194 | -4.9 | % | ||||||||||||
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BloomNet |
23,075 | 23,075 | 28,870 | -20.1 | % | |||||||||||||||
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Gourmet Foods & Gift Baskets |
84,003 | 84,003 | 98,109 | -14.4 | % | |||||||||||||||
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Corporate |
89 | 89 | 270 | -67.0 | % | |||||||||||||||
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Intercompany eliminations |
(257 | ) | (257 | ) | (393 | ) | 34.6 | % | ||||||||||||
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Total net revenues |
$ | 242,090 | $ | - | $ | 242,090 | $ | 269,050 | -10.0 | % | ||||||||||
|
Gross profit: |
||||||||||||||||||||
|
Consumer Floral & Gifts |
$ | 53,929 | $ | 53,929 | $ | 56,322 | -4.2 | % | ||||||||||||
| 39.9 | % | 39.9 | % | 39.6 | % | |||||||||||||||
|
BloomNet |
11,528 | 11,528 | 14,498 | -20.5 | % | |||||||||||||||
| 50.0 | % | 50.0 | % | 50.2 | % | |||||||||||||||
|
Gourmet Foods & Gift Baskets |
26,844 | 26,844 | 30,907 | -13.1 | % | |||||||||||||||
| 32.0 | % | 32.0 | % | 31.5 | % | |||||||||||||||
|
Corporate |
18 | 18 | 201 | -91.0 | % | |||||||||||||||
| 20.2 | % | 20.2 | % | 74.4 | % | |||||||||||||||
|
Total gross profit |
$ | 92,319 | $ | - | $ | 92,319 | $ | 101,928 | -9.4 | % | ||||||||||
| 38.1 | % | - | 38.1 | % | 37.9 | % | ||||||||||||||
|
EBITDA (non-GAAP): |
||||||||||||||||||||
|
Segment Contribution Margin (non-GAAP) (a): |
||||||||||||||||||||
|
Consumer Floral & Gifts |
$ | 4,944 | $ | 4,944 | $ | 8,826 | -44.0 | % | ||||||||||||
|
BloomNet |
6,841 | 6,841 | 9,387 | -27.1 | % | |||||||||||||||
|
Gourmet Foods & Gift Baskets |
(12,253 | ) | 913 | (11,340 | ) | (11,028 | ) | -2.8 | % | |||||||||||
|
Segment Contribution Margin Subtotal |
(468 | ) | 913 | 445 | 7,185 | -93.8 | % | |||||||||||||
|
Corporate (b) |
(33,475 | ) | 867 | (32,608 | ) | (31,568 | ) | -3.3 | % | |||||||||||
|
EBITDA (non-GAAP) |
(33,943 | ) | 1,780 | (32,163 | ) | (24,383 | ) | -31.9 | % | |||||||||||
|
Add: Stock-based compensation |
2,479 | 2.479 | 2,364 | 4.9 | % | |||||||||||||||
|
Add: Compensation charge related to NQDC Plan Investment Appreciation (Depreciation) |
1,738 | 1,738 | (504 | ) | 444.8 | % | ||||||||||||||
|
Adjusted EBITDA (non-GAAP) |
$ | (29,726 | ) | $ | 1,780 | $ | (27,946 | ) | $ | (22,523 | ) | -24.1 | % | |||||||
1-800-FLOWERS.COM, Inc. | Fiscal 2025 First Quarter Results | Page 9
1-800-FLOWERS.COM, Inc. and Subsidiaries
Selected Financial Information
(in thousands, except for per share data)
(unaudited)
|
Reconciliation of net loss to adjusted net loss (non-GAAP): |
Three Months Ended |
|||||||
|
September 29, 2024 |
October 1, 2023 |
|||||||
|
Net loss |
$ | (34,190 | ) | $ | (31,242 | ) | ||
|
Adjustments to reconcile net loss to adjusted net loss (non-GAAP) |
||||||||
|
Add: System Implementation Costs |
1,780 | - | ||||||
|
Deduct: Income tax effect on adjustments |
(527 | ) | - | |||||
|
Adjusted net loss (non-GAAP) |
$ | (32,937 | ) | $ | (31,242 | ) | ||
|
Basic and diluted net loss per common share |
$ | (0.53 | ) | $ | (0.48 | ) | ||
|
Basic and diluted adjusted net loss per common share (non-GAAP) |
$ | (0.51 | ) | $ | (0.48 | ) | ||
|
Weighted average shares used in the calculation of basic and diluted net loss and adjusted net loss per common share |
64,198 | 64,785 | ||||||
1-800-FLOWERS.COM, Inc. | Fiscal 2025 First Quarter Results | Page 10
1-800-FLOWERS.COM, Inc. and Subsidiaries
Selected Financial Information
(in thousands)
(unaudited)
|
Reconciliation of net loss to adjusted EBITDA (non-GAAP): |
Three Months Ended |
|||||||
|
September 29, 2024 |
October 1, 2023 |
|||||||
|
Net loss |
$ | (34,190 | ) | $ | (31,242 | ) | ||
|
Add: Interest expense and other, net |
1,593 | 3,956 | ||||||
|
Add: Depreciation and amortization |
13,038 | 13,194 | ||||||
|
Add: Income tax benefit |
(14,384 | ) | (10,291 | ) | ||||
|
EBITDA |
(33,943 | ) | (24,383 | ) | ||||
|
Add: Stock-based compensation |
2,479 | 2,364 | ||||||
|
Add: Compensation charge related to NQDC plan investment appreciation (depreciation) |
1,738 | (504 | ) | |||||
|
Add: System Implementation Costs |
1,780 | - | ||||||
|
Adjusted EBITDA |
$ | (27,946 | ) | $ | (22,523 | ) | ||
|
(a) Segment performance is measured based on segment contribution margin or segment Adjusted EBITDA, reflecting only the direct controllable revenue and operating expenses of the segments, both of which are non-GAAP measurements. As such, management’s measure of profitability for these segments does not include the effect of corporate overhead, described above, depreciation and amortization, other income (net), and other items that we do not consider indicative of our core operating performance. |
|||
|
(b) Corporate expenses consist of the Company’s enterprise shared service cost centers, and include, among other items, Information Technology, Human Resources, Accounting and Finance, Legal, Executive and Customer Service Center functions, Stock-Based Compensation, as well as changes in the fair value of the Company's NQDC plan. In order to leverage the Company’s infrastructure, these functions are operated under a centralized management platform, providing support services throughout the organization. The costs of these functions, other than those of the Customer Service Center, which are allocated directly to the above categories based upon usage, are included within corporate expenses as they are not directly allocable to a specific segment. |
|||
1-800-FLOWERS.COM, Inc. | Fiscal 2025 First Quarter Results | Page 11
1-800-FLOWERS.COM, Inc. and Subsidiaries
Selected Financial Information
(in thousands)
(unaudited)
|
Reconciliation of net cash used in operating activities to free cash flow (non-GAAP): |
Three Months Ended |
|||||||
|
September 29, 2024 |
October 1, 2023 |
|||||||
|
Net cash used in operating activities |
$ | (177,241 | ) | $ | (143,884 | ) | ||
|
Capital expenditures |
(12,075 | ) | (6,974 | ) | ||||
|
Free cash flow |
$ | (189,316 | ) | $ | (150,858 | ) | ||
1-800-FLOWERS.COM, Inc. | Fiscal 2025 First Quarter Results | Page 12