LXR Announces September 2021 Monthly Revenue Update

Estimated Total and E-commerce Net Revenue Up 304% and 134%, Respectively

MONTREAL, Oct. 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 September 2021 and estimates for the year-to-date (YTD) and the latest twelve months (LTM) periods ending September 30, 2021.

Monthly and YTD Net Revenue
In September 2021, the Company realized total net revenue of $2.0 million, including e-commerce net revenue of $0.8 million, which represented growth of 304% and 134%, respectively, over the same period last year. For the YTD nine-month period ending September 30, 2021, the Company realized total net revenue of $11.6 million, including e-commerce net revenue of $6.6 million, which represented an increase of 12% and an increase of 148%, respectively, over the same period last year.

September marked the seventh consecutive month of double-digit revenue growth and our highest monthly revenue since February 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	1,555	29%		844	196%
September	2,031	304%		831	134%
September YTD	$11,616	12%		$6,602	148%

^1 Following accounting adjustments, August results were updated since the September 13, 2021 press release.

LTM Total and E-commerce Net Revenue History
On an LTM basis, for September 2021, the Company had total net revenue of $15.0 million. LTM September 2021 e-commerce net revenue was $8.3 million, a level 84% 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%
Q3 2021	4,987,628	15,007,540		2,506,580	8,317,976		55%
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/