Jun 10, 2024 / 12:00PM GMT
Operator
Good morning, ladies and gentlemen, and welcome to the Roots Corporation Q1-2024 analyst conference call. (Operator Instructions) This call is being recorded on Monday, June 10, 2024.
I would now like to turn the conference over to Meghan Roach, President and CEO. Please go ahead.
Meghan Roach - Roots Corp - President, Chief Executive Officer, Director
Good morning, everyone. Thank you for joining our Q1-2004 earnings call. As a reminder, the first half of the year remain seasonally small for Roots financially, with Q1 typically representing approximately 15% of annual sales.
First-quarter sales came in at $37.5 million compared to $41.5 million last year, with direct-to-consumer sales of $31.4 million relative to the $35.4 million in Q1 2023. Direct-to-consumer gross margins grew 80 basis points, and strong cost management drove a decline in SG&A of 3.1% year over year. Adjusted EBITDA losses amounted to $8 million in Q1 2024 compared to a loss of $5.8 million in Q1 2023. Notably, free cash flow improved by 1.7% year over year, and we
Q1 2024 Roots Corp Earnings Call Transcript
Jun 10, 2024
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