Poshmark Inc (NASDAQ:POSH) stock rose 3.43% (As on Mar 23, 11:28:53 AM UTC-4, Source: Google Finance) after the company posted mixed result for the fourth quarter of FY 21. Gross merchandise value over the new and secondhand style specialist’s platform grew 27% to nearly $491 million. Poshmark counted 7.6 million active buyers for the past 12 months, hitting a new record. Adjusted EBITDA was ($4.7) million which decreased from $4.8 million in the fourth quarter of 2020. Adjusted EBITDA margin was (5.5%) in the fourth quarter of 2021. Non-GAAP results from operations (excluding stock-based compensation) was ($5.7) million, compared to income of $4.1 million in the fourth quarter of 2020. Cash, cash equivalents, and marketable securities were $581.5 million as of December 31, 2021 or $7.52 in cash per share.

POSH in the fourth quarter of FY 21 has reported the adjusted loss per share of 19 cents, missing the analysts’ estimates for the adjusted loss per share of 18 cents. The company had reported the adjusted revenue growth of 22 percent to $84.2 million in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $80.5 billion.

Meanwhile, in October, the company completed the acquisition of Suede One, a platform that combines machine learning, computer vision, and expert human review to virtually authenticate sneakers. At the end of October, the company launched the Brand Closets program, which enables large-scale brands to open a closet on Poshmark to directly connect, converse with, and sell to the highly engaged community of over 80 million registered users, accessing a new sales channel that is the future of shopping. Ahead of the holiday season in November, the company launched the Electronics category and the company is encouraged by the uptick in new buyers and sellers who are attracted to Poshmark’s social shopping experience.

The company began rolling out “Shop by Trend” in the fourth quarter, a new way for customers to shop on our platform and enjoy a more personalized feed in their treasure hunt for style. During the fourth quarter, the company launched two CRM programs for the Sellers, “My Shoppers” and “Closet Insights.” These programs help our sellers better engage and communicate with their customers.

For the first quarter of 2022, the company expects Revenue range to be in the range of $86 million – $88 million and Adjusted EBITDA to be in the range of ($7) million – ($9) million.