Sep 13, 2024 / 12:00PM GMT
Operator
Good morning, ladies and gentlemen, and welcome to the Roots Corporation Q2 2024 analyst conference call. (Operator Instructions) This call is being recorded on Friday, September 13, 2024.
And I would now like to turn the conference over to Ms. Meghan Roach, CEO. Please go ahead.
Meghan Roach - Roots Corp - President, Chief Executive Officer, Director
Good morning, everyone. Thank you for joining our Q2 2024 earnings call. Second-quarter sales came in at $47.7 million compared to $49.4 million last year. With direct to consumer sales of $36.4 million relative to $37.1 million in Q2 2023, and comparable sales were nearly flat. Direct-to-consumer gross margins declined 100 basis points while product margins improved by 230 basis points. Adjusted EBITDA losses were stable compared to Q2 2023 at $3.1 million relative to $3.0 million in the prior year.
Notably, we also continued to strengthen our balance sheet, reducing net debt by 20% compared to this time last year. As a reminder, first half of the year remain seasonally small for risk
Q2 2024 Roots Corp Earnings Call Transcript
Sep 13, 2024
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