CarParts.com, Inc. (NASDAQ:PRTS) Q3 2023 Earnings Conference Call October 30, 2023 5:00 PM ET
Company Participants
Tina Mirfarsi - SVP, Communications and Culture
David Meniane - CEO
Michael Huffaker - COO
Ryan Lockwood - CFO
Conference Call Participants
Ryan Sigdahl - Craig-Hallum Capital Group
Darren Aftahi - ROTH MKM
Ryan Meyers - Lake Street
Operator
Good afternoon. At this time, all participants will be in a listen-only mode. After the presentation, there will be a question-and-answer session. Please note that this call is being recorded.
I would now like to pass the conference over to our host, Tina Mirfarsi, Senior Vice President of Global Communications and Culture. Please go ahead.
Tina Mirfarsi
Hello, everyone, and thank you for joining us for the CarParts.com Third Quarter 2023 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.
The 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 material risks and other important factors that could affect results, please refer to the CarParts.com annual report on Form 10-K and 10-Q as filed with the SEC, both of which can be found on our 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 it over to David.
David Meniane
Thank you, Tina, and thank you to all our stakeholders for joining us.
Today, we reported our 15th consecutive quarter of year-over-year growth with $167 million in revenue, up 1% from the prior year period of $165 million. And on a 2-year stack, revenues for the quarter are up 17%. Adjusted EBITDA was $3 million, and we repurchased another 245,000 shares during the quarter. The $67 million in cash on our balance sheet at the end of the quarter demonstrates the resilience of our business, given the challenging economic environment.