PARTS iD Inc. (ID) Reports Q4 Loss of $0.67 on Revenues of $93.1M
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PARTS iD Inc. (NYSE: ID) reported Q4 EPS of ($0.67), versus ($0.06) reported last year. Revenue for the quarter came in at $93.1 million, versus $70.1 million reported last year.
“Our record-breaking performance in 2020 was filled with numerous highlights and accomplishments,” said Nino Ciappina, Chief Executive Officer of PARTS iD. “Financially, we delivered 39% top-line growth and revenue of over $400 million while driving strong gains in profitability and cash generation. Strategically, we made important progress expanding our penetration in newer categories such as OE & Repair parts and in new verticals such as Motorcycles, Boating & RV/Campers, while at the same time capitalizing on the accelerated shift to online spending during the pandemic to accelerate growth of our core business. Operationally, during the year, we on-boarded 155 new vendors, 267 distribution locations and integrated 1,100 tire installation service centers with our platform, further advancing CARiD.com’s position as a leading one-stop-shop in the auto aftermarket industry, including the Do-It-For-Me space. On top of all this, we completed a successful business combination to bring PARTS iD to the public markets.
“Looking ahead, we believe our technology-led, data-driven approach to digital commerce provides us with a strong foundation to build on for profitable growth within our existing lines of business as well as expansion into other complex, multidimensional parts and accessories markets. Our strength in combining deep industry knowledge and experience in automotive parts with the strong digital and technical skills of our engineering and development teams is what makes our platform a unique digital commerce business.”
For earnings history and earnings-related data on L-1 Identity Solutions, Inc. (ID) click here.
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