IMBI - iMedia Brands surges on highest revenue growth in 10 years

iMedia Brands (IMBI +13.5%) soars following the company's earnings beat and 20% Y/Y revenue growth, the highest in over 10 years. The success was driven by the 25+ new merchandise brand launches during the quarter and 90+ since the beginning of the year. 12-month rolling active customers grew by 20% compared to same prior-year period, driven by 65% growth in new customers which was the best new customer growth in over ten years. Gross margin was 41.6%, a 420 bps improvement over the same prior-year period. Raises Q4 Outlook: Q4 adjusted EBITDA is expected to be $13 to $15M on net sales of approximately $175 to $180M vs consensus of $161M. FY22 Outlook: Revenue is expected to be $675 to $725M vs consensus of $550M, adjusted EBITDA of $50-60M, and positive EPS beginning in the back half of 2022. Seeking Alpha's Quant Rating is Neutral on iMedia Brands while Wall-Street analysts remain

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iMedia Brands surges on highest revenue growth in 10 years