LXR Announces August 2021 Monthly Revenue Update

Estimated Total and E-commerce Net Revenue Up 32% and 205%, Respectively

MONTREAL, Sept. 13, 2021 /CNW/ - LXRandCo, Inc. (LXR or the Company) (TSX: LXR) (TSX: LXR.WT), a North American, digital-first omni-channel retailer of authenticated pre-owned luxury products, today provided a revenue update, which includes total net revenue and e-commerce net revenue estimates for the month of August 2021 and estimates for the year-to-date (YTD) and the latest twelve months (LTM) periods ending August 31, 2021.

Monthly and YTD Net Revenue
In August 2021, the Company realized total net revenue of $1.6 million, including e-commerce net revenue of $0.9 million, which represented growth of 32% and 205%, respectively, over the same period last year. For the YTD eight-month period ending August 31, 2021, the Company realized total net revenue of $9.6 million, including e-commerce net revenue of $5.8 million, which represented a decrease of 3% and an increase of 151%, respectively, over the same period last year.

August, typically a seasonally-slower month, marked the sixth consecutive month of double-digit revenue growth and our highest monthly revenue since March 2020. In addition, throughout 2021, e-commerce monthly net revenue has been tracking significantly above comparable months. The following table summarizes 2021 year-to-date total and e-commerce monthly net revenue as compared to comparable periods in 2020.

	Total Net Revenue			E-commerce Net Revenue
($000s)	2021	2020		2021	2020
		B(W)			B(W)
January	491	-74%		491	61%
February	600	-80%		455	30%
March	1,511	24%		627	96%
April	1,190	444%		975	445%
May	1,440	240%		899	155%
June	1,396	77%		649	140%
July	1,401	22%		833	240%
August	1,586	32%		871	205%
August YTD	$9,615	-3%		$5,799	151%

LTM Total and E-commerce Net Revenue History
On an LTM basis, for August 2021, the Company had total net revenue of $13.5 million. LTM August 2021 e-commerce net revenue was $7.9 million, a level 85% higher than the same period last year. We expect to post successively higher increases in LTM revenue for both total and e-commerce net revenue throughout the year. 

The following table provides historical quarterly and LTM total net revenue and e-commerce net revenue for which financial statements have been prepared by us as a reporting issuer.

	Total net revenue		E-commerce net revenue			E-commerce penetration
Actuals ($):	Quarterly	LTM	Quarterly	LTM		LTM*
Q1 2019	8,756,063	38,982,959	604,023	2,294,094		6%
Q2 2019	8,558,435	38,254,627	959,525	2,654,334		7%
Q3 2019	8,314,615	36,493,740	985,288	3,057,856		8%
Q4 2019	14,440,173	40,069,286	1,175,652	3,724,488		9%
Q1 2020	6,097,604	37,410,827	975,592	4,096,057		11%
Q2 2020	1,430,284	30,282,676	802,658	3,939,190		13%
Q3 2020	2,857,718	24,825,779	885,669	3,839,571		15%
Q4 2020	3,391,813	13,777,419	1,715,804	4,379,723		32%
Q1 2021	2,602,071	10,281,886	1,572,640	4,976,771		48%
Q2 2021	4,026,028	12,877,630	2,522,682	6,696,795		52%
Jul 31, 2021	—	13,128,850	—	7,284,547		55%
Aug 31, 2021	—	13,510,049	—	7,870,562		58%
Target Q4 2021		17,500,000—  20,000,000				50%—65%

FY 2021 Outlook
The Company's total net revenue target for FY 2021 is between $17.5 million and $20 million, with e-commerce penetration of approximately 50% to 65%.

About LXR
LXRandCo is a socially responsible, digital-first omni-channel retailer of authenticated pre-owned luxury handbags and personal accessories. Since 2010, we have been providing consumers with authenticated branded luxury products by promoting their reuse and providing an environmentally responsible way for consumers to purchase luxury products. We achieve this through our digital-first strategy by selling directly to consumers through our website at www.lxrco.com and indirectly by powering the e-commerce and other platforms of key channel partners. Our omni-channel model is also supported by retail 'shop-in-shop' experience centers and by wholesale activities with select retail partners across North America.

SOURCE LXRandCo, Inc.

Nadine Eap, Chief Financial Officer, [phone] ext: 037, [email protected]

Related Links

https://lxrco.com/