The Knot: Investors File For Divorce
The honeymoon is over for investors in The Knot (KNOT).
The wedding planning site’s shares are down sharply lower following disappointing Q1 results. Revenues for the quarter of $23.7 million were slightly ahead of the consensus at $23.5 million, and down a tad from $23.8 million a year ago. But the company lost 4 cents a share in the quarter, slightly worse than expected. And adjusted EBITDA of $1.3 million was down 52 percent year over year, and well below the Street consensus at $2.8 million. EBITDA margins fell to 6 percent from 11.5 percent a year ago.
Hurting margins in the quarter: an 8.4 percent jump on operating expenses.
