Farfetch recorded Q3 earnings per share loss of $0.17, better than expected per-share loss of $0.42, and last year’s per-share loss of $0.20, according to the company’s press release. Revenues were $438 million, up 71% year over year and above estimated $373 million.
- Farfetch expects adjusted EBITDA in Q4 to be positive year over year, up from $(10) million in Q3 2020 and $(36) million in Q3 2019.
- Q3 2020 Gross Merchandise Value (GMV) was $798 million, up from $492.0 million year over year.
- Q3 2020 Digital platform growth rate was 60% year over year to $674 million.
- Q3 2020 gross profit and digital platform order contribution rose 82% and 98% year-over-year, respectively.
- Q3 2020 gross profit margin was 48% and digital platform order contribution margin was 37%.
- Q3 2020 loss after tax was $537 million.
- Farfetch partnered with Alibaba and Richemont to accelerate the digitalization of the luxury industry that will see the strategic partners invest a total of $1.15 billion in the company.
Farfetch stock is currently gaining. FTCH: NYSE is up 14.56% on premarket.