Adjusted EBITDA was $31.9 million, or 5.2 percent of net sales, compared to $62.4 million, or 11.1 percent of net sales in 2021. Net loss, as adjusted, was $5.7 million, or $0.04 per share in 2022, compared to net income, as adjusted2 of $14.2 million or $0.15 per share in 2021. of $6.0 million or $0.06 per share in 2021 and 116.6 percent of net sales. Net loss was $176.7 million or $1.37 per share in 2022, compared to a net loss attributable to a.k.a. The net loss, as adjusted, was $3.4 million, or 3 cents a share, compared to an adjusted net income of $4.3 million, or 3 cents per share, in the fourth quarter of 2021.Īdjusted EBITDA was $6.1 million, or 4.1 percent of net sales, compared to $16.1 million, or 8.8 percent of net sales in the fourth quarter of 2021.įor the year, sales increased 8.8 percent to $611.7 million, compared to $562.2 million in 2021 or decreased 0.3 percent pro forma, adjusting for the acquisition of Culture Kings. said the impairment charge recognized on the goodwill recorded from the acquisitions of the Culture Kings and Rebdolls reporting units is a result of the worsening economic trends, including continued inflation and rising interest rates, as well as unfavorable demand due to a gradual customer shift from primarily online shopping to a mix of online and physical store shopping. Included in this loss was a non-cash impairment charge of $173.8 million.Ī.k.a. The net loss was $173.9 million or $1.35 per share in the fourth quarter of 2022, compared to the net income of break-even earnings a year ago. Currency-neutral sales were down 13 percent. Brands Holding Corp., the parent of Princess Polly, Culture Kings, Mnml, and Petal & Pup., reported sales decreased 18.3 percent in the fourth quarter to $149.1 million compared to $182.4 million in the fourth quarter of 2021.
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