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Q2 GMV rose 1.2% year-over-year to $1,032.6M, with Digital Platform GMV growing 6.9% year-over-year to $944.3M, and Brand Platform GMV decreasing 40.8% year-over-year to $63.4M.
“We have also taken decisive action to adapt to the macro environment of the last 18 months. 2023 is set up to be a great year for Farfetch, toward strong GMV growth, Adjusted EBITDA profitability and positive free cash flow,” said CEO José Neves.
For the full 2023 year, the company expects revenue of $2.5 billion, worse than the consensus estimate of $2.8B. Group GMV is seen at approximately $4.4B, with Digital Platform GMV of $3.85B, and Brand Platform GMV of $0.45B.
