Logo

LITB

LightInTheBox Holding Co., Ltd.

LITB

LightInTheBox Holding Co., Ltd. • NYSE
$1.91 ▼ -1.04% (-0.02)
Market Cap $17.52 M
52w High $4.17
52w Low $0.91
Dividend Yield 0%
P/E 7.96
Volume 1.85K
Outstanding Shares 9.18M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $55.528M ▼ $34.723M ▼ $2.839M ▲ 5.112% ▲ $0.3 ▲ $3.256M ▲
Q2-2025 $58.882M ▲ $36.898M ▲ $2.021M ▲ 3.432% ▲ $0.22 ▲ $2.353M ▲
Q1-2025 $47.018M ▼ $30.524M ▼ $114K ▼ 0.242% ▼ $0.012 ▼ $558.626K ▼
Q4-2024 $57.75M ▲ $33.292M ▼ $452K ▲ 0.783% ▲ $0.049 ▲ $918K ▲
Q3-2024 $57.006M $34.287M $266K 0.467% $0.029 $817.657K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $16.185M ▼ $65.002M ▼ $72.578M ▼ $-7.576M ▲
Q2-2025 $18.474M ▲ $67.917M ▲ $78.29M ▼ $-10.373M ▲
Q1-2025 $15.857M ▼ $65.757M ▼ $78.589M ▼ $-12.832M ▲
Q4-2024 $17.945M ▲ $69.374M ▲ $82.546M ▲ $-13.172M ▼
Q3-2024 $15.002M $68.732M $80.761M $-12.029M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.835M ▲ $0 $0 $0 $0 $0
Q2-2025 $2.021M ▲ $0 $0 $0 $0 $0
Q1-2025 $114K ▼ $0 $0 $0 $0 $0
Q4-2024 $452K ▲ $0 $0 $0 $0 $0
Q3-2024 $266K $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Revenue grew steadily for several years but then dropped sharply in the most recent period, suggesting the business is still searching for a stable growth path. Gross margins are relatively healthy for an online retailer, showing the company can add value beyond pure reselling. However, profits have been inconsistent, swinging between small gains and small losses, with recent years hovering around break-even rather than delivering clear, sustained profitability. Earnings per share have been volatile, which underlines how sensitive the business is to changes in sales, marketing efficiency, and cost control. Overall, the income statement shows a company in transition: capable of earning money in good conditions but not yet demonstrating durable, repeatable profit levels.

Balance Sheet

Balance Sheet The balance sheet is light, with a relatively small asset base and modest cash reserves. Cash has come down from prior years, which reduces the financial cushion. Debt is low in absolute terms, but shareholder equity has turned negative, meaning accumulated losses outweigh the book value of assets. That combination points to a thin margin for error and limited room to absorb future setbacks without raising capital or improving profitability. In short, the balance sheet is lean and somewhat fragile, leaving the company reliant on better operating performance to rebuild its financial strength.

Cash Flow

Cash Flow Cash generation has weakened. The business produced positive operating cash flow a few years ago but has more recently been using cash rather than generating it. Free cash flow mirrors this pattern because capital spending is minimal, so almost all movements in cash come from the core business. This means that, at the moment, the company is depending on its existing cash balance and working capital management to fund operations, rather than on surplus cash from profits. Sustained improvement in operating cash flow will be important if the company wants to self-fund its strategic shift and strengthen its balance sheet.

Competitive Edge

Competitive Edge LightInTheBox operates in an intensely competitive global e-commerce and apparel environment, alongside both giant marketplaces and many fast-fashion players. Its emerging edge is the move toward proprietary brands, in-house manufacturing, and a direct-to-consumer model, which can reduce reliance on third-party platforms and pure price competition. Focusing on a defined niche—such as mid-age women’s fashion with Western-oriented designs—may help differentiate its offerings and build loyalty. However, the company is relatively small, has limited financial firepower, and competes in categories where trends shift quickly and customer acquisition costs can be high. Its competitive position is promising but still developing, and execution on brand-building and customer retention will be critical.

Innovation and R&D

Innovation and R&D The strategic pivot toward manufacturer-to-consumer and direct-to-consumer models is the core innovation story. By investing in in-house manufacturing, small-batch production, and fast response to trends, the company aims to align more closely with fast-fashion dynamics while maintaining better control over quality and costs. Proprietary brands like Ador.com, with design centers in both the U.S. and China, show a push to blend local design insight with global supply chain capabilities. The company also highlights data-driven decision-making and AI-related tools, though the concrete impact of these technologies is still more of a promise than a fully proven advantage. R&D and brand-building spending are effectively bets on building a longer-lasting moat through distinctive products, tighter customer relationships, and less dependence on third-party marketplaces.

Summary

LightInTheBox is in the middle of a significant business model transformation, shifting from a broad marketplace style of selling to a more focused, brand-led, vertically integrated approach. Financially, the story is mixed: decent gross margins but volatile profits, negative equity, and recent cash outflows all point to a company with limited buffers that must execute its strategy well. On the strategic side, the move to proprietary brands, in-house manufacturing, and a direct-to-consumer focus offers a clear path toward differentiation and potentially better long-term economics if it succeeds. The key uncertainties are whether the company can stabilize revenue growth, turn consistent profits, and rebuild its balance sheet while competing in a crowded, fast-changing online retail market. The opportunity is meaningful, but so are the execution and financial risks.

NEWS

November 25, 2025 · 8:20 AM UTC

LightInTheBox to Hold 2025 Annual General Meeting on December 19, 2025

Read more

November 12, 2025 · 8:00 AM UTC

LightInTheBox Reports Third Quarter 2025 Financial Results

Read more