Technology
LightInTheBox Reports Second Quarter 2026 Financial Results
Published
3 months agoon
By
SINGAPORE, Aug. 26, 2026 /PRNewswire/ — LightInTheBox Holding Co., Ltd. (NYSE: LITB) (“LightInTheBox” or the “Company”), a global consumer lifestyle company, today announced its unaudited financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 Financial Highlights
Total Revenues were $56.8 million, a modest 4% decrease year over year, as the company optimized its product mix through phasing out long-tail products.Gross Profit was $37.6 million, compared with $38.8 million in the same quarter last year.Gross Margin was 66.1%, compared with 65.9% in the same quarter last year, which remained stable.Operating Expenses were $35.5 million, compared with $36.9 million in the same quarter last year.Fulfillment Expenses decreased by 3% year over year to $4.2 million.Selling and Marketing Expenses decreased by 4% year over year to $26.7 million.General and Administrative Expenses decreased by 5% year over year to $4.6 million, of which Research and Development expenses were $2.3 million.Net Income reached $1.6 million, compared with $2.0 million in the same quarter last year, marking sustained profitability amidst industry challenges.Adjusted EBITDA was $1.9 million, compared with $2.3 million in the same quarter last year.
First Half 2026 Financial Highlights
Total Revenues were $108.8 million, a 3% increase year over year.Gross Profit was $71.4 million, compared with $69.4 million in the same period last year.Gross Margin was 65.6% compared with 65.6% in 2025, which remained stable.Operating Expenses increased by 1% year over year to $68.2 million.Fulfillment Expenses increased by 1% year over year to $8.3 million.Selling and Marketing Expenses increased by 3% year over year to $51.3 million.General and Administrative Expenses decreased by 10% year over year to $8.8 million, of which Research and Development expenses were $4.6 million.Net Income reached $2.7 million, compared with $2.1 million in 2025, showcasing sustainable profitability.Adjusted EBITDA was $3.3 million, compared with $3.0 million in the same period last year.
Jian He, Chairman and CEO of LightInTheBox, commented, “In the second quarter, we continued to execute with discipline amid geopolitical disruptions, higher logistics costs and foreign exchange headwinds. Revenue decreased modestly as we deliberately phased out some long-tail products, while gross margin remained stable at 66%. Through disciplined expense management, we remained profitable, generating net income of $1.6 million and Adjusted EBITDA of $1.9 million.”
“Our first-half results provide a clearer indication of the progress we are making. Revenue increased by 3% year over year to $108.8 million, net income grew by approximately 28% to $2.7 million, and Adjusted EBITDA improved by $0.4 million year over year to $3.3 million. This performance demonstrates the increasing resilience and efficiency of our business model.”
“On August 10, 2026, we announced the closing of a private placement financing that raised approximately $5.49 million in gross proceeds. The proceeds will support and accelerate the Company’s strategic transformation to strengthen its competitiveness in the AI era.”
“While the external environment remains uncertain, we are encouraged by the progress achieved during the first half of the year. We are also pleased to have successfully completed our private placement, which supports the execution of our strategic priorities and better positions the Company for the AI era.” Mr. He concluded.
Share Repurchase Program
On March 31, 2025, the Company’s board of directors authorized a share repurchase program under which the Company may repurchase up to $0.7 million of its ordinary shares in the form of ADSs no later than June 30, 2025. The Company has since extended the share repurchase program through December 31, 2025, then further to June 30, 2026, and then to December 31, 2026, with total repurchase amount up to $3.0 million. As of August 21, 2026, the Company has repurchased 657,305 ADSs with a total aggregate value of approximately $1.5 million.
CFO Transition Update
The Company is pleased to announce the appointment of Ms. Wenyu Liu (Wendy) as Chief Financial Officer, effective on August 21, 2026, succeeding Mr. Suhai Ji, who resigned for personal reasons.
“On behalf of the Company, I would like to extend our special thanks to Suhai for his valuable contribution over his tenure and wish him all the best in his future endeavors.” said Mr. Jian He, Chairman and CEO of LightInTheBox.
Wendy has served as LightInTheBox’s Chief Growth Officer since August 2020. Prior to joining LightInTheBox, Wendy was a co-founder of Ezbuy, a Singapore-based leading cross-border e-commerce platform founded in 2010 and acquired by LightInTheBox in 2018. Ms. Liu concurrently leads its Singapore team as Chief Executive Officer. Ms. Liu has been working in the e-commerce sector since she was in university where she has developed a deep understanding and appreciation for the convenience and savings consumers enjoy from online shopping. Ms. Liu has spearheaded the development of technology to reduce the reliance on heavy upfront investments and improve corporate flexibility to operate anywhere and at any time. Ms. Liu holds a first-class honor degree in Electrical & Electronics Engineering with a minor in Business from the Nanyang Technological University of Singapore and a Master’s Degree in Industrial & Systems Engineering from the National University of Singapore.
Conference Call
The Company will hold an earnings conference call to discuss the results at 8:00 a.m. Eastern Time August 26, 2026 (8:00 p.m. Hong Kong/Singapore Time on the same day).
Preregistration Information
Participants can register for the conference call by going to https://s1.c-conf.com/diamondpass/10056871-fngk6z.html. Upon registration, participants will receive dial-in numbers, an event passcode, and a unique access PIN.
To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the event passcode followed by your unique access PIN, and you will be connected to the conference instantly.
A telephone replay will be available two hours after the conclusion of the conference call through September 2, 2026. The dial-in details are:
US/Canada: +1-855-883-1031
Singapore: 800-101-3223
Hong Kong, China: 800-930-639
Replay PIN: 10056871
Additionally, a live and archived webcast of the conference call will be available on the Company’s Investor Relations website at https://ir.ador.com.
About LightInTheBox Holding Co., Ltd.
Founded in 2007, LightInTheBox is a global direct-to-consumer (DTC) e-commerce company dedicated to delivering a joyful lifestyle to consumers worldwide. Leveraging AI-driven market insights and agile supply chain systems, it aims to capture consumer preferences and sentiment to offer differentiated products, driving consumer engagement through deep emotional resonance. LightInTheBox also adopts a brand matrix strategy by launching its own apparel brands such as Ador to further strengthen its position as a consumer lifestyle company. Additionally, LightInTheBox offers a comprehensive suite of services to e-commerce companies, including advertising, supply chain management, payment processing, order fulfillment, and shipping and delivery solutions.
For more information, please visit https://ir.ador.com.
Non-GAAP Financial Measure
In evaluating the business, the Company considers and uses a non-GAAP measure, Adjusted EBITDA, as a supplemental measure to review and assess operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s non-GAAP financial measure excludes share-based compensation expenses, depreciation and amortization expenses, interest income, interest expenses and income tax benefit / (expense).
The Company presents this non-GAAP financial measure because it is used by management to evaluate operating performance and formulate business plans. The Company believes that the non-GAAP financial measure helps identify underlying trends in its business. The Company also believes that the non-GAAP financial measure could provide further information about the Company’s results of operations and enhance the overall understanding of the Company’s past performance and future prospects.
The non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. The Company’s non-GAAP financial measure does not reflect all items of income and expenses that affect the Company’s operations and does not represent the residual cash flow available for discretionary expenditures. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for the limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. The Company encourages you to review the Company’s financial information in its entirety and not rely on a single financial measure.
For more information on the non-GAAP financial measure, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets” and similar statements. Among other things, statements that are not historical facts, including statements about LightInTheBox’s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as LightInTheBox’s strategic and operational plans, are or contain forward-looking statements.
LightInTheBox may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: LightInTheBox’s goals and strategies; LightInTheBox’s future business development, results of operations and financial condition; the expected growth of the global online retail market; LightInTheBox’s ability to attract customers and further enhance customer experience and product offerings; LightInTheBox’s ability to strengthen its supply chain efficiency and optimize its logistics network; LightInTheBox’s expectations regarding demand for and market acceptance of its products; competition; fluctuations in general economic and business conditions; changes in tariffs and trade policies; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in LightInTheBox’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and LightInTheBox does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact
Investor Relations
LightInTheBox Holding Co., Ltd.
Email: ir@ador.com
Serena Huang
Octans Capital Group
Email: litb@octanscap.com
LightInTheBox Holding Co., Ltd.
Unaudited Condensed Consolidated Balance Sheets
(U.S. dollars in thousands, or otherwise noted)
As of December 31,
As of June 30,
2025
2026
ASSETS
Current Assets
Cash and cash equivalents
23,629
15,969
Restricted cash
2,319
1,540
Accounts receivable, net
1,355
1,639
Inventories
4,943
5,514
Prepayments and other current assets, net
1,884
2,164
Total current assets
34,130
26,826
Property and equipment, net
1,313
1,042
Intangible assets, net
2,180
1,893
Goodwill
27,800
28,632
Operating lease right-of-use assets
6,068
4,592
Long-term rental deposits
434
453
Long-term investments
77
77
TOTAL ASSETS
72,002
63,515
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current Liabilities
Short-term borrowings
715
737
Accounts payable
12,309
8,779
Advance from customers
9,194
9,684
Operating lease liabilities
2,818
1,901
Accrued expenses and other current liabilities
48,956
42,259
Total current liabilities
73,992
63,360
Operating lease liabilities
1,886
1,087
Deferred tax liabilities
107
84
TOTAL LIABILITIES
75,985
64,531
SHAREHOLDERS’ DEFICIT
Ordinary shares
17
17
Additional paid-in capital
280,646
280,598
Treasury shares
(29,392)
(30,067)
Statutory reserves
396
396
Accumulated other comprehensive loss
(1,723)
(764)
Accumulated deficit
(253,927)
(251,196)
TOTAL SHAREHOLDERS’ DEFICIT
(3,983)
(1,016)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT
72,002
63,515
LightInTheBox Holding Co., Ltd.
Unaudited Condensed Consolidated Statements of Operations
(U.S. dollars in thousands, except per share data, or otherwise noted)
Three Months Ended
June 30,
Six Months Ended
June 30,
2025
2026
2025
2026
Revenues
Product sales
56,671
55,058
101,471
105,116
Services and others
2,211
1,757
4,429
3,675
Total revenues
58,882
56,815
105,900
108,791
Cost of revenues
Product sales
(19,635)
(18,822)
(35,484)
(36,620)
Services and others
(445)
(427)
(967)
(802)
Total Cost of revenues
(20,080)
(19,249)
(36,451)
(37,422)
Gross profit
38,802
37,566
69,449
71,369
Operating expenses
Fulfillment
(4,355)
(4,221)
(8,225)
(8,302)
Selling and marketing
(27,849)
(26,743)
(49,745)
(51,332)
General and administrative
(4,857)
(4,610)
(9,819)
(8,819)
Other operating income, net
163
77
367
287
Total operating expenses
(36,898)
(35,497)
(67,422)
(68,166)
Income from operations
1,904
2,069
2,027
3,203
Interest income
3
–
5
–
Interest expense
(5)
(5)
(9)
(9)
Other income / (expense), net
12
(490)
5
(481)
Total other income / (expense)
10
(495)
1
(490)
Income before income taxes
1,914
1,574
2,028
2,713
Income tax benefit / (expense)
107
(2)
107
18
Net income
2,021
1,572
2,135
2,731
Net income attributable to LightInTheBox
Holding Co., Ltd.
2,021
1,572
2,135
2,731
Weighted average numbers of shares used in
calculating net income per ordinary share
-Basic
219,963,072
214,538,028
220,320,143
215,227,363
-Diluted
220,156,552
214,704,348
220,567,883
215,388,604
Net income per ordinary share
-Basic
0.01
0.01
0.01
0.01
-Diluted
0.01
0.01
0.01
0.01
Net income per ADS (12 ordinary shares
equal to 1 ADS)
-Basic
0.11
0.09
0.12
0.15
-Diluted
0.11
0.09
0.12
0.15
LightInTheBox Holding Co., Ltd.
Unaudited Reconciliations of GAAP and Non-GAAP Results
(U.S. dollars in thousands, or otherwise noted)
Three Months Ended
June 30,
Six Months Ended
June 30,
2025
2026
2025
2026
Net income
2,021
1,572
2,135
2,731
Interest income
(3)
–
(5)
–
Interest expense
5
5
9
9
Income tax (benefit) / expense
(107)
2
(107)
(18)
Depreciation and amortization
426
292
866
610
EBITDA
2,342
1,871
2,898
3,332
Share-based compensation
1
3
87
7
Adjusted EBITDA*
2,343
1,874
2,985
3,339
* Adjusted EBITDA represents net income before share-based compensation expense, interest income, interest expense,
income tax expense / benefit and depreciation and amortization expenses.
View original content:https://www.prnewswire.com/news-releases/lightinthebox-reports-second-quarter-2026-financial-results-302860397.html
SOURCE LightInTheBox Holding Co., Ltd.
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Western Sydney International Airport Opens After Bechtel-Led Delivery Program Completes Major Construction Works Seven Months Early
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Australia’s first major greenfield international airport in more than 50 years delivered ahead of schedule: a role model for future infrastructure delivery in Australia
SYDNEY, Nov. 11, 2026 /PRNewswire/ — Western Sydney International (Nancy-Bird Walton) Airport (WSI) opened to passengers on October 25, 2026, following a design, construction, and commissioning program led by Western Sydney Airport Corporation with Bechtel Australia as Delivery Partner that finished months ahead of schedule. The opening marks a new era of aviation, trade, and economic activity for Western Sydney and Australia.
Jetstar operated the airport’s first commercial passenger service, flying from WSI to the Gold Coast. Passenger operations follow the start of freight services in July and cap 15 years of planning, seven years of construction, and a year of testing and operational readiness.
A Delivery Model Built for Complexity
“I offer my warm congratulations to our partner, Western Sydney Airport Corporation, our contractors, and all the colleagues and partners who have come together to make this project such a success,” said Darren Mort President of Infrastructure and Executive Director at Bechtel. “WSI shows what the integrated model can achieve when a customer, delivery partner, and contractors work as one team around a clear vision. Together, we transformed a 1,780-hectare greenfield site into a modern international airport, months ahead of schedule.”
Key project achievements include:
Completing major construction works almost seven months ahead of schedule.More than 21 million work hours, most of them in high-risk construction, completed with strong safety performance and supported by more than 42,000 proactive safety activities.Delivering Australia’s largest earthworks program, moving approximately 28 million cubic metres of material across the site.Reusing nearly 6 million tonnes of sandstone from Sydney tunnelling projects, diverting material from landfill.Installing a 4.5-megawatt solar system that will offset more than 4,000 tonnes of carbon dioxide each year, alongside all-electric heating, rainwater harvesting, and electric-vehicle infrastructure.Integrating more than 60 software platforms supporting airport operations, including passenger processing, security, retail, and office systems.Exceeding sustainability targets on all construction packages, each receiving a 4- or 5-Star rating.
Since 2018, Bechtel has served as Delivery Partner to Western Sydney Airport Corporation, the company responsible for building and operating WSI. Under this model, Bechtel:
Worked as an integrated partner of the customer’s team.Helped set the program’s scope, cost, and schedule baseline.Procured and managed contractors across the earthworks, terminal, runway, landside, and technology packages, and managed the interfaces between them.Controlled the program budget, keeping every package moving toward the same completion date that resulted in finishing months early and within budget.
Innovation from the Ground Up
The program combined large-scale engineering with new approaches to sustainability and technology. It delivered Australia’s largest earthworks program and reused nearly 6 million tonnes of sandstone from Sydney tunnelling projects that would otherwise have gone to landfill. More than 60 software platforms were integrated into one operating environment covering passenger processing, security, retail, and office systems. A 4.5-megawatt solar system, all-electric heating, and rainwater harvesting are built into the airport. And the new terminal includes extensive innovative elements, from the integrated domestic/international check-in area, a state-of-the art baggage system, and departure/arrival gates able to be used for both domestic and international flights.
The airport is designed to initially serve up to 10 million passengers a year, with capacity to expand as demand grows. It has already helped catalyze AU$19 billion in surrounding infrastructure investment and is projected to contribute AU$23.9 billion to Australia’s gross domestic product by 2060.
Building on Bechtel’s Commitment to Australia
“Today marks years of hard work, collaboration, and commitment from thousands of people, including more than 330 Bechtel colleagues across design, engineering, procurement, and project delivery,” said Richard Freer, Managing Director of Bechtel’s Public Infrastructure Business in Australia. “Excellent project set up, led by the Federal Infrastructure Department, strong front-end planning, disciplined project controls, and new ways of integrating complex systems kept multiple contractors and interconnected packages moving towards the same completion date. That’s how we finished ahead of the schedule set back in 2018. Just as important, more than half of the workforce came from Western Sydney, so this airport was built by the community it now serves.”
Bechtel has been serving Australian communities and customers for more than 70 years with projects spanning airports, rail, mines, mineral processing facilities, LNG installations, refineries, chemical plants, power stations, and telecommunications infrastructure. At peak construction on WSI, the project team brought together around 4,000 people; across the full construction period, more than 11,000 people worked on the project, with more than half drawn from Western Sydney. The program also engaged more than 360 local businesses and exceeded its workforce participation targets for local, diverse, First Nations and learner workers.
WSI is Australia’s new 24-hour global gateway, providing domestic, international, and freight services, supporting Western Sydney’s long-term growth and Australia’s future aviation capacity.
About Bechtel
Bechtel is a trusted engineering, construction, procurement, and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world’s infrastructure, increased access to energy, resources and vital services, and made the world a safer, cleaner place.
Bechtel serves the Energy; Infrastructure; Manufacturing & Technology; Mining & Metals; and Nuclear, Security & Environmental markets. Our services span from initial planning and investment through start-up and operations.
Media Contact: Molly Edwards, medwards@bechtel.com
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SOURCE Bechtel
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The impact extends across industries where operation is mission critical. Security teams can respond to threats as they unfold, data center operators can detect threats early across every ring of the facility, transportation agencies can identify incidents and violations in real time, and port operators can strengthen safety and compliance.
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View original content:https://www.prnewswire.com/apac/news-releases/cynapseai-wins-agentic-ai-innovation-award-at-ainext-awards-2026-302934415.html
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NIDS Co., Ltd. Expands ‘Airvom’ Supply to High-Traffic Facilities, Strengthening Its Air Quality Management Solutions Business
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Company leverages in-house precision sensors and plasma modules to target hospitals, schools, and welfare facilities in B2G and B2B markets
SEOUL, South Korea, Nov. 10, 2026 /PRNewswire/ — NIDS Co., Ltd. is expanding its air quality management business for high-traffic public facilities with Airvom, its in-house air purification and sterilization brand. The company plans to broaden its public- and private-sector supply network, targeting hospitals, nursing homes, schools, welfare facilities, and subway stations.
According to NIDS, Airvom is an air care product that combines a precision sensor that detects indoor air conditions with a plasma module. The company explained that the system links purification and sterilization functions to the air quality data measured by the sensor, applying its environmental measurement component technology to air quality management in real spaces.
The core of what NIDS is presenting to the high-traffic facility market is the link between measurement and operation. Built on a structure that identifies air conditions in real time and reflects them in how the product operates, the company aims to address air quality management needs within facilities. The company said it applied plasma technology targeting airborne viruses and harmful bacteria in addition to its purification function.
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This structure of directly handling core components also ties into how the company develops finished products. NIDS explained that it can control sensor sensitivity and tune operating algorithms to suit the system. It plans to use this tuning capability when linking the sensor and plasma module, developing products in a direction that improves performance and quality stability.
The product line is organized by usage space, ranging from vehicle and personal models to residential and office units and models for hospitals and high-traffic facilities. Among these, the company identified hospitals, nursing homes, schools, welfare facilities, and subway stations as targets for future supply expansion. NIDS plans to establish Airvom in the market through B2G and B2B business aimed at facilities.
Airvom’s business offering also includes S+Link, an Internet of Things (IoT) platform for real-time air quality management. NIDS presents a solution that connects sensors, finished products, and the platform to monitor and manage air conditions. The company aims to extend its business scope beyond supplying individual devices to the management domain that makes use of air quality data.
The foundation of the Airvom business is NIDS’s experience in environmental sensor manufacturing and plasma module development. Founded in 2000, NIDS has designed and mass-produced particulate matter sensors, optical gas sensors, and composite environmental sensor modules in-house. The company has also been developing and supplying plasma ionizers for odor removal in domestic automotive air conditioners since 2000, a technology that was developed to eliminate bacteria and viruses. By applying its experience developing core air-measurement components to finished air purification and sterilization products, the company is pursuing its own-brand business.
This represents a move to secure customer touchpoints distinct from its sensor component supply. While the component business primarily targets home appliance, automotive, and HVAC companies, Airvom seeks supply opportunities with public institutions and facility operators that run actual spaces. The company plans to operate the sensor supply business and the Airvom business as two pillars and expand its presence in the finished-product market.
NIDS is also exploring the potential for supplying its air quality management solutions overseas. It plans to contact buyers and identify local partnership opportunities through its existing overseas branch network in the United States, Japan, and China. Alongside expanding supply to domestic high-traffic facilities, the company intends to pursue overseas sales channels in parallel.
Going forward, NIDS will promote the product competitiveness of its combined sensor and plasma technologies and continue supply discussions with public and private facilities. Its goal is to extend its in-house component technology into a finished air care product business and secure a market foundation for Airvom.
The company is also preparing to build a business foundation for its entry into the U.S. market through exchanges with Yale University and Johns Hopkins University.
“Airvom will expand its supply network centered on high-traffic facilities such as hospitals, nursing homes, schools, welfare facilities, and subway stations (B2G/B2B),” a NIDS representative said.
View original content:https://www.prnewswire.com/news-releases/nids-co-ltd-expands-airvom-supply-to-high-traffic-facilities-strengthening-its-air-quality-management-solutions-business-302934649.html
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