Poshmark reported fourth quarter earnings that exceeded analysts’ expectations, in its first financial report since going public in January. But the online marketplace issued a sales outlook that is below analysts’ forecasts.
For the quarter ended Dec. 31, Poshmark’s loss narrowed to $4.06 million, or 31 cents a share, from a loss of $14.75 million, or $1.20 a share, a year earlier. After adjusting for one-time items, the company earned 5 cents a share during the quarter, beating analysts' expectations of 1 cent a share.
For the first quarter, Poshmark is expecting revenuerange of $75.5 million to $77.5 million. Analysts had been calling for $79.2 million on average.
Poshmark filed to go public in December, and debuting on the Nasdaq on Jan. 14, at $97.50 per share. The stock price has been falling since, hitting an all-time intraday low of $44.11 last Friday.