CarParts.com, Inc. (NASDAQ:PRTS) Q4 2022 Results Conference Call March 7, 2023 5:00 PM ET

Company Participants

Tina Mirfarsi - VP, Communications and Culture

David Meniane - CEO, SVP & Director

Michael Huffaker - Chief Operating Officer

Ryan Lockwood - CFO

Conference Call Participants

Thomas Forte - D.A. Davidson

Ryan Meyers - Lake Street Capital Markets

Darren Aftahi - Roth MKM

Operator

Good afternoon. At this time, all participants will be in a listen-only mode. [Operator Instructions] Please note, this call is being recorded.

I would now like to pass the conference over to our host, Tina Mirfarsi, Vice President of Communications and Culture. Please go ahead.

Tina Mirfarsi

Hello, everyone, and thank you for joining us for the CarParts.com Fourth Quarter 2022 Conference Call. I'd like to start by welcoming the investors and others who are attending this meeting remotely. Joining me today from the company are David Meniane, Chief Executive Officer; Ryan Lockwood, Chief Financial Officer; and Michael Huffaker, Chief Operating Officer.

Before I turn it over to David to start the meeting, I have some important disclosures. Their prepared remarks and responses to your questions could contain certain forward-looking statements related to the business under the federal securities laws. Actual results may differ materially from those contained in or implied by these forward-looking statements due to the risks and uncertainties associated with the business.

For a discussion of the material risks and other important factors that could affect results, please refer to the CarParts.com annual report on Form 10-K and 10-Qs as filed with the SEC, both of which can be found on the Investor Relations website.

On the call, both GAAP and non-GAAP financial measures will be discussed. A reconciliation of GAAP to non-GAAP financial measures is provided in the CarParts.com press release issued today.

And with that, I would now like to turn the call over to David.

David Meniane

Thank you, Tina. Good afternoon, everyone, and thank you for joining us. As reported in today's release, for Q4 2022, we marked our 12th consecutive quarter of double-digit year-over-year sales growth of $154.5 million, up 11.8% from the prior year. On a 2-year stack, revenues for the quarter were up 27.2%. Also, for the full fiscal year 2022, we're excited to beat company records for both top line at $661.6 million and $26.1 million for adjusted EBITDA. For those keeping score, this is our third year in a row of posting record revenue.