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a.k.a. Brands Holding Corp. (AKA-2.76%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The company reported net sales of $574.7 million, a 5% increase from $546.3 million in 2023. This growth was driven primarily by a 7% increase in the number of orders processed.
Gross profit for the year was $327.5 million, with a gross margin of 57%, up from 55% in the previous year. The improvement was attributed to more full-price selling and an improved inventory position.
Operating expenses totaled $337.8 million, a decrease from $383.7 million in 2023. This was primarily due to the absence of goodwill impairment charges in 2024.
The company reported a net loss of $26.0 million, a significant improvement from a net loss of $98.9 million in 2023. The reduction in net loss was attributed to increased sales and improved gross margins.
a.k.a. Brands' Adjusted EBITDA increased to $23.3 million from $13.8 million in the previous year, representing a 69% year-over-year growth.
The company ended the year with $24.2 million in cash and cash equivalents and had $111.7 million in total debt, with $23.3 million drawn under its revolving credit facility.
a.k.a. Brands continues to focus on expanding its brand presence and increasing its customer base, with plans to open additional stores and grow its wholesale partnerships in 2025.
The company identified material weaknesses in its internal control over financial reporting related to the lack of a sufficient complement of personnel with appropriate knowledge and experience. Remediation efforts are ongoing.
a.k.a. Brands is subject to various risks, including changes in consumer preferences, economic conditions, and competition in the apparel industry. The company continues to monitor these factors closely as it executes its growth strategy.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the a.k.a. Brands Holding Corp. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.