Farfetch (NYSE: FTCH) 4Q18 Results: Strong Finish to 2018, Beating Consensus Estimates

Executive Summary

• Farfetch’s 4Q18 revenues grew 54.6% to $195.5 million; GMV rose 50.1%, or $155.8 million to $466.5 million.
• Active customers rose 44.6% and the number of orders increased 57.8% as average transaction value declined 4.9% or $33.10 to $637.30.
• Outlook for 2019 includes 40% YoY growth in GMV and full year adjusted EBITDA margin of (18%) – (19%).