Software company Kaspien Holdings Inc (NASDAQ: KSPN) reported first-quarter financial results on Thursday after the market closed.
Kunal Chopra, CEO of Kaspien, appeared on Benzinga’s YouTube show “Money Mitch” Thursday for an exclusive interview.
Kaspien reported a quarterly earnings loss of 61 cents per share, which came in below the Street estimate of a loss of 59 cents per share. The company reported quarterly revenue of $40.62 million, which beat the estimate of $35.38 million.
Related Link: Recap: Kaspien Holdings Q1 Earnings
Kaspien’s CEO On Its Business: As the company increases gross merchandise value for customers, it helps its customers grow, which in turn helps Kaspien grow through increased revenue, Chopra said, adding that this dynamic is visible in the earnings report.
Kaspien tries to understand its customers’ needs so that it can better contribute to its customers’ growth, the CEO said, adding that the company keeps the brand at the center of everything it does.
Kaspien focuses on optimizing and growing brands on leading online marketplaces, Chopra told Benzinga.
The company’s core initiative is to expand its value proposition through expansion of its products and marketplaces, he said.
Kaspien also plans to continue to invest in technology and work on improving its brand acquisition strategy, Chopra said.
Kaspien’s CEO On E-Commerce Trends: E-commerce continues to take market share from retail, Chopra said.
If Kaspien’s recent e-commerce acceleration slows coming out of the COVID-19 pandemic, the company’s diversified nature will allow it to continue on its growth trajectory, the CEO said.
The company’s diversified approach to the market has allowed it to overcome recent supply chain issues and freight price increases, he said.
Artificial intelligence is the foundation of everything that Kaspien does, he said, adding that the company’s services and business models are built upon that foundation.
KSPN Price Action: Kaspien Holdings has traded as high as $63.09 and as low as $7.03 over a 52-week period.
The stock was down 6.63% at $25.19 at last check Friday.
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