Key Highlights

● Second-quarter GMV was $96.0 million, up 7% year on year and above guidance.

● Net revenue rose 5% to $23.3 million, with gross margin at 73.9%.

● Adjusted EBITDA swung to a $1.3 million profit from a $1.8 million loss.

● Orders fell 4% and active buyers fell 10% while GMV grew.

Latest verified development: second-quarter results

1stdibs.com, Inc. (NASDAQ:DIBS), the online marketplace for design, furniture, jewellery, art and fashion, reported second-quarter 2026 results on 5 August 2026. The company said gross merchandise value (GMV) was $96.0 million, up 7% year on year and above the top of its own guidance range. Chief executive David Rosenblatt described it as the strongest growth rate since late 2024.

Why the numbers matter

Net revenue rose 5% to $23.3 million from $22.1 million. Gross profit was $17.2 million, a gross margin of 73.9% against 71.8% a year earlier. The net loss narrowed sharply to $1.0 million, or $0.03 per share, from $4.3 million, or $0.12 per share, in the second quarter of 2025.

Adjusted EBITDA, a non-GAAP measure, swung to a profit of $1.3 million, a 5.6% margin, from a loss of $1.8 million (negative 7.9%) a year before. Chief financial officer Tom Etergino said the lower cost structure built between 2022 and 2025 was converting revenue upside directly into margin expansion.

The marketplace picture is mixed

Operating indicators diverged. Orders were about 32,000, down 4% year on year, and active buyers were about 58,000, down 10%. GMV growth alongside fewer orders and buyers implies higher spending per transaction among the buyers who remain.

A simple calculation using the rounded figures supports that reading: $96.0 million of GMV across roughly 32,000 orders is about $3,000 per order. A year earlier, GMV of roughly $89.7 million (implied by the 7% increase) over about 33,300 orders (implied by the 4% decline) comes to nearly $2,700 each. These are derived from rounded numbers rather than company-reported averages, and are indicative only.

The first half tells a similar story. Net revenue for the six months to 30 June was $45.7 million, the net loss was $3.2 million and adjusted EBITDA was $1.9 million, a 4.1% margin.

Balance sheet and guidance

Cash, cash equivalents and short-term investments totalled $67.7 million at 30 June 2026. Against a net loss of $1.0 million in the quarter, that is a substantial buffer.

The release describes the figures as preliminary and unaudited. Adjusted EBITDA excludes items defined in the company's own reconciliation, so the GAAP net loss of $1.0 million and the adjusted profit of $1.3 million are best read side by side.

For the third quarter, the company guided to GMV of $89.0 million to $94.0 million, net revenue of $22.0 million to $22.9 million and an adjusted EBITDA margin between negative 1% and positive 2%. Those are expected figures, and none has been reported. The midpoint of GMV guidance, $91.5 million, would be below the second-quarter figure.

1stDibs buyer counts and margins to watch

With orders down 4% and active buyers down 10%, can spend of about $3,000 per order, against nearly $2,700 a year earlier, keep GMV within the $89.0 million to $94.0 million guide?