a.k.a. Brands Holding Higher as Q1 2023 Results Exceed Expectations

April 19, 2023

(24/7 MARKET NEWS) – a.k.a. Brands Holding Corp. (NASDAQ:AKA) reported, after yesterday’s market close, preliminary unaudited financial results for the first quarter ended March 31, 2023.

For the first quarter of 2023 the Company expects to report:

•              Net sales of approximately $120 million, exceeding the high end of its previously provided outlook of between $113 million and $116 million.

•              Net loss of approximately $9.7 million to $9.6 million, within management’s expectations.

•              Adjusted EBITDA1 of approximately $2.0 million to $2.2 million, exceeding the high end of its previously provided outlook of between $1.5 million and $1.8 million.

a.k.a. Brands is trading at $0.51, up $0.1032 (+25.39%), on 454K premarket shares traded.

Its 52-week range is $0.3705 to $4.28. It’s trying to bounce off the 52-week low that it set early April and the mid 50-cent level is a key inflection point.

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