Latest news with #RoadsideAssistance
Hindustan Times
17 hours ago
- Automotive
- Hindustan Times
Kia India announces service camp for its customers
Kia Carens Clavis is the manufacturer's most recent launch. It will be available in seven variants and three engine options. Notify me Kia India has announced the commencement of a nationwide Ownership Service Camp, reaffirming its commitment to delivering a premium ownership experience and strengthening customer trust. The initiative, which is set to run until July 1, 2025, will span over 445 authorized service centers across 329 cities, highlighting the brand's extensive service network and customer-first approach. This service camp has been curated to offer a host of complimentary services and exclusive offers aimed at enhancing both customer satisfaction and vehicle performance. One of the primary highlights is a complimentary 36-point vehicle health check, which includes detailed inspections of key areas such as the exterior, interior, engine bay, underbody, and on-road performance. This thorough evaluation is designed to help Kia owners maintain their vehicles in optimal condition. Also Read : Hyundai announces monsoon service camp, offers comprehensive inspection, discounts & more In addition to the free vehicle inspection, Kia is offering attractive discounts across a range of services. Customers can avail a 20 per cent discount on car care services, up to 10 per cent off on Extended Warranty plans, 10 per cent off on Roadside Assistance (RSA) packages, and 10 per cent discounts on parts, labour, and Kia Genuine Accessories. Adding to the value proposition, Kia India has introduced a 3+2 years Roadside Assistance package for customers who provide successful referrals during the service camp. Referees also stand to benefit from this offer. Further, the campaign includes exclusive benefits on the Syros Accessories package and attractive exchange bonus schemes, making it an appealing time for customers considering an upgrade. Also Read : Five effective monsoon hacks to keep you car safe, dry and rust-free this rainy season Mr. Joonsu Cho, Chief Sales Officer of Kia India, emphasized the brand's philosophy, stating, 'Customer satisfaction is at the heart of Kia's brand ethos. Through initiatives like the Kia Ownership Service Camp, we aim to foster enduring relationships with our valued customers by ensuring the highest standards of safety, comfort, and convenience throughout their ownership journey with Kia." The camp also offers interactive sessions to educate customers on Kia's advanced technologies, responsible driving habits, and basic vehicle maintenance. Additionally, Kia is providing complimentary used car valuation and exchange offers, ensuring a complete, customer-focused aftersales experience. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 28 Jun 2025, 09:06 AM IST
Yahoo
13-05-2025
- Automotive
- Yahoo
CarParts.com Reports First Quarter 2025 Results
TORRANCE, Calif., May 13, 2025 /PRNewswire/ -- Inc. (NASDAQ: PRTS), a leading eCommerce provider of automotive parts and accessories, and a premier destination for vehicle repair and maintenance needs, is reporting results for the first quarter ended March 29, 2025. First Quarter 2025 Summary vs. Year-Ago Quarter Net sales decreased 11% to $147.4 million. Gross profit of $47.3 million vs. $53.9 million, with gross margin of 32.1%. Net loss was ($15.3) million, or ($0.27) per share, compared to a net loss of ($6.5) million, or ($0.11) per share. Adjusted EBITDA of ($6.2) million vs. $1.1 million. Cash of $38.5 million and no revolver debt. Our mobile app has cumulative net downloads of approximately 900,000. Over 5,000 CarParts+ and Roadside Assistance Memberships sold year to date. Management Commentary "In the first quarter, our top line and operating expenses were in line with our expectations, the gross margin compression and advertising spend climate put significant pressure on our profitability. This reiterates how critical it is for us to continue to upgrade our customer base with higher income and less price sensitive customers as well as diversify our acquisition mix. Realigning our business around products to target higher margin sales, adding high-margin fee income, growing customer lifetime value with our mobile app, and increasing our focus on wholesale and other commercial opportunities. We continue to believe these are the right bets as we counteract these external pressures. For the first 6 weeks of the second quarter, we generated revenues up double digits year-over-year, on sequentially lower marketing spend. Our focus on repeat customers, mobile app traffic, and high-margin fee income are all paying off and we are seeing record levels for all three. While early in the process, we are slowly changing our customer acquisition mix and margin profile to transform our company's profitability." said David Meniane, CEO. First Quarter 2025 Financial Results Net sales in the first quarter of 2025 were $147.4 million, down 11% from $166.3 million in the year-ago quarter. The decline was primarily driven by the impact of soft consumer demand, inclement weather, and continued pressures in lighting and mirrors. Gross profit was $47.3 million in the first quarter compared to $53.9 million in the year-ago quarter, with gross margin decreasing 30 basis points to 32.1%. The decrease was primarily driven by increased outbound freight costs. Total operating expenses in the first quarter were $62.5 million compared to $60.4 million in the year-ago quarter. Operating expense as a percent of net sales increased 6.1% to 42.4% in the first quarter, mainly attributable to unfavorable marketing spend with higher customer acquisition costs. Net loss in the first quarter was ($15.3) million compared to a net loss of ($6.5) million in the year-ago quarter, primarily driven by higher marketing costs and lower gross margin. Adjusted EBITDA in the first quarter was ($6.2) million compared to $1.1 million in the year-ago quarter, primarily due to soft consumer demand and increased competitive pressure in performance marketing. On March 29, 2025, the Company had a cash balance of $38.5 million and no revolver debt, compared to no revolver debt and a $36.4 million cash balance at prior fiscal year-end December 28, 2024. 2025 Outlook The company is currently evaluating various strategic alternatives in response to inbound interest. As a result, we are not providing guidance for 2025. Conference Call CEO David Meniane and CFO Ryan Lockwood will host a conference call today to discuss the results. Date: Tuesday, May 13, 2025Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time) Webcast: To listen to the live call, please click the link above to access the webcast. A replay of the audio webcast will be archived on the Company's website at About Inc. Inc. is a technology-driven eCommerce company offering over 1 million high-quality automotive parts and accessories. Operating for over 25 years, has established itself as a premier destination for drivers seeking repair and maintenance solutions. Our commitment lies in placing the customer at the forefront of our operations, evident in our easy-to-use, mobile-friendly website and app. With a commitment to affordability and customer satisfaction, simplifies the automotive repair process, aiming to eliminate the uncertainty and stress often associated with vehicle maintenance. Backed by a robust company-operated fulfillment network, we ensure swift delivery of top-quality parts from leading brands to customers across the nation. At our global team is united by a shared vision: Empowering Drivers Along Their Journey. is headquartered in Torrance, California. Non-GAAP Financial Measures Regulation G, and other provisions of the Securities Exchange Act of 1934, as amended, define and prescribe the conditions for use of certain non-GAAP financial information. We provide "Adjusted EBITDA" in this earnings release and on today's scheduled conference call, which are non-GAAP financial measures. Adjusted EBITDA consist of net loss before (a) interest income, net; (b) income tax provision; (c) depreciation and amortization expense; (d) amortization of intangible assets; (e) share-based compensation expense; (f) workforce transition costs; (g) distribution center costs; and (h) strategic alternatives exploration costs. A reconciliation of Adjusted EBITDA to net loss is provided below. The Company believes that these non-GAAP financial measures provide important supplemental information to management and investors. These non-GAAP financial measures reflect an additional way of viewing aspects of the Company's operations that, when viewed with the GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provides a more complete understanding of factors and trends affecting the Company's business and results of operations. Management uses Adjusted EBITDA as measures of the Company's operating performance because it assists in comparing the Company's operating performance on a consistent basis by removing the impact of stock compensation expense as well as other items that we do not believe are representative of our ongoing operating performance. Internally, these non-GAAP measures are also used by management for planning purposes, including the preparation of internal budgets; for allocating resources to enhance financial performance; and for evaluating the effectiveness of operational strategies. The Company also believes that analysts and investors use these non-GAAP measures as supplemental measures to evaluate the ongoing operations of companies in our industry. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. Management strongly encourages investors to review the Company's consolidated financial statements in their entirety and to not rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. In addition, the Company expects to continue to incur expenses similar to the non-GAAP adjustments described above, and exclusion of these items from the Company's non-GAAP measures should not be construed as an inference that these costs are all unusual, infrequent or non-recurring. Safe Harbor Statement This press release contains statements which are based on management's current expectations, estimates and projections about the Company's business and its industry, as well as certain assumptions made by the Company. These statements are forward looking statements for the purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended and Section 27A of the Securities Act of 1933, as amended. Words such as "anticipates," "could," "expects," "intends," "plans," "potential," "believes," "predicts," "projects," "seeks," "estimates," "may," "will," "would," "will likely continue" and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding our future operating results and financial condition, our potential growth, our ability to innovate, our ability to gain market share, and our ability to expand and improve our product offerings. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. Important factors that may cause such a difference include, but are not limited to, competitive pressures, our dependence on search engines to attract customers, demand for the Company's products, the online market and channel mix for aftermarket auto parts, the economy in general, increases in commodity and component pricing that would increase the Company's product costs, the operating restrictions in its credit agreement, the weather and any other factors discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the Risk Factors contained in the Company's Annual Report on Form 10–K and Quarterly Reports on Form 10–Q, which are available at and the SEC's website at You are urged to consider these factors carefully in evaluating the forward-looking statements in this release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. Unless otherwise required by law, the Company expressly disclaims any obligation to update publicly any forward-looking statements, whether as result of new information, future events or otherwise. Investor Relations: Ryan Lockwood, CFAIR@ Summarized information for the periods presented is as follows (in millions): Thirteen WeeksEndedThirteen Weeks EndedMarch 29, 2025March 30, 2024Net sales$ 147.38$ 166.29Gross profit$ 47.35$ 53.92 32.1 %32.4 % Operating expense$ 62.49$ 60.44 42.4 %36.3 % Net loss$ (15.28)$ (6.48) (10.4) %(3.9) % Adjusted EBITDA$ (6.23)$ 1.05 (4.2) %0.6 % The table below reconciles net loss to Adjusted EBITDA for the periods presented (in thousands): Thirteen Weeks EndedThirteen Weeks Ended March 29, 2025March 30, 2024 Net loss$ (15,283)$ (6,478) Depreciation & amortization 5,482 4,025 Amortization of intangible assets 13 8 Interest income, net (3) (137) Income tax provision 140 98 EBITDA$ (9,651)$ (2,484) Stock compensation expense$ 2,872$ 2,582 Workforce transition costs(1) — 483 Distribution center costs(2) — 471 Strategic alternatives exploration costs(3) 550 — Adjusted EBITDA$ (6,229)$ 1,052 ________________________ (1) We incurred workforce transition costs, primarily related to severance, as part of our recent workforce reductions. (2) We incurred certain non-recurring costs, primarily overlapping rent expense, attributable to moving to our new Las Vegas, Nevada distribution center. (3) We incurred certain costs, primarily legal and advisor costs, attributable to our ongoing exploration of strategic alternatives. INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE OPERATIONS(Unaudited, In Thousands, Except Per Share Data) Thirteen Weeks Ended March 29,March 30, 20252024 Net sales$ 147,378$ 166,289 Cost of sales (1) 100,031 112,370 Gross profit 47,347 53,919 Operating expense 62,493 60,436 Loss from operations (15,146) (6,517) Other income (expense): Other income, net 260 437 Interest expense (257) (300) Total other income, net 3 137 Loss before income taxes (15,143) (6,380) Income tax provision 140 98 Net loss (15,283) (6,478) Other comprehensive gain: Foreign currency adjustments — 87 Total other comprehensive gain — 87 Comprehensive loss$ (15,283)$ (6,391) Net loss per share: Basic and diluted net loss per share$ (0.27)$ (0.11) Weighted-average common shares outstanding: Shares used in computation of basic and diluted net loss per share 57,343 56,503 _______________________ (1) Excludes depreciation and amortization expense which is included in operating expense. INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(Unaudited, In Thousands, Except Par Value Data) March 29,December 28, 20252024 ASSETS Current assets: Cash and cash equivalents$ 38,532$ 36,397 Accounts receivable, net 10,211 6,098 Inventory, net 94,207 90,353 Other current assets 6,289 6,020 Total current assets 149,239 138,868 Property and equipment, net 30,123 32,206 Right-of-use - assets - operating leases, net 25,307 26,682 Right-of-use - assets - finance leases, net 9,798 10,765 Other non-current assets 1,988 2,053 Total assets$ 216,455$ 210,574 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable$ 74,593$ 60,365 Accrued expenses 21,859 16,083 Right-of-use - obligation - operating, current 5,884 5,810 Right-of-use - obligation - finance, current 3,273 3,471 Other current liabilities 5,181 4,694 Total current liabilities 110,790 90,423 Right-of-use - obligation - operating, non-current 21,758 23,203 Right-of-use - obligation - finance, non-current 8,079 8,842 Other non-current liabilities 3,058 2,931 Total liabilities 143,685 125,399 Commitments and contingencies (Note 8) Stockholders' equity: Common stock, $0.001 par value; 100,000 shares authorized; 58,295 and 57,454 shares issuedand outstanding as of March 29, 2025 and December 28, 2024 (of which 3,786 are treasurystock) 62 61 Treasury stock (11,912) (11,912) Additional paid-in capital 328,423 325,546 Accumulated other comprehensive income 1,055 1,055 Accumulated deficit (244,858) (229,575) Total stockholders' equity 72,770 85,175 Total liabilities and stockholders' equity$ 216,455$ 210,574 INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited, In Thousands) Thirteen Weeks Ended March 29,March 30, 20252024 Operating activities Net loss$ (15,283)$ (6,478) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization expense 5,482 4,025 Amortization of intangible assets 13 8 Share-based compensation expense 2,872 2,582 Stock awards issued for non-employee director service 11 8 Stock awards related to officers and directors stock purchase plan from payroll deferral — 1 Amortization of deferred financing costs 16 16 Changes in operating assets and liabilities: Accounts receivable (4,112) (1,524) Inventory (3,853) 8,886 Other current assets (269) (1,907) Other non-current assets 35 (504) Accounts payable and accrued expenses 19,975 (1,808) Other current liabilities 488 163 Right-of-use obligation - operating leases - current 189 957 Right-of-use obligation - operating leases - long-term (186) (817) Other non-current liabilities 127 44 Net cash provided by operating activities 5,505 3,652 Investing activities Additions to property and equipment (2,116) (7,431) Net cash used in investing activities (2,116) (7,431) Financing activities Borrowings from revolving loan payable 68 61 Payments made on revolving loan payable (68) (61) Payments on finance leases (954) (1,093) Net proceeds from issuance of common stock for ESPP 96 202 Statutory tax withholding payment for share-based compensation (396) (323) Net cash used in financing activities (1,254) (1,214) Effect of exchange rate changes on cash — 88 Net change in cash and cash equivalents 2,135 (4,905) Cash and cash equivalents, beginning of period 36,397 50,951 Cash and cash equivalents, end of period$ 38,532$ 46,046 Supplemental disclosure of non-cash investing and financing activities: Right-of-use operating asset acquired$ —$ 12,857 Accrued asset purchases$ 526$ 1,621 Share-based compensation expense capitalized in property and equipment$ 294$ 242 Supplemental disclosure of cash flow information: Cash received during the period for income taxes$ —$ (8) Cash paid during the period for interest$ 256$ 300 Cash received during the period for interest$ 259$ 437 View original content to download multimedia: SOURCE Inc.
