Reports Q4 revenue $356M, consensus $348.25M. CEO John Reed commented, "I am so proud of the tremendous accomplishments of the Arhaus team in 2022. We achieved over $1.2B in net revenue, up 54% from 2021, with net income of $137M and adjusted EBITDA of $223M, an 81% increase over 2021. Our remarkable Q4 performance was driven in large part by the investments in our supply chain and distribution infrastructure that enabled us to accelerate delivery of product in the backlog we had previously expected to deliver in 2023. This resulted in stronger than expected net revenue and earnings performance in the quarter, and most importantly, drove better delivery times and delighted our clients. As we look to 2023, the year is off to a strong start, with demand comparable growth in the first two months of the quarter up high-single-digits. We are very pleased to be continuing to invest in the business for growth this year, and these investments along with the uncertain macroeconomic backdrop and the pull-forward of backlog delivery into late 2022, are expected to temporarily weigh on net revenue and profitability.,,We are planning to add a record number of new showrooms during the year, with twelve new showroom openings and five renovation, relocation and expansion projects, most in the second half of the year."
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