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a.k.a. Brands Holding (AKA)

Established in 2018, a.k.a. Brands is a brand accelerator of direct-to-consumer fashion brands for the next generation. Each brand in the a.k.a. portfolio is customer obsessed, curates quality exclusive merchandise, creates authentic and inspiring social content and targets a distinct Gen Z and millennial audience. a.k.a. Brands leverages its next-generation retail platform to help each brand accelerate its growth, scale in new markets and enhance its profitability. Current brands in the a.k.a. Brands portfolio include Princess Polly, Culture Kings, mnml, Petal & Pup and Rebdolls.

Company profile

Ticker
AKA
Exchange
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
1.a.k.a. Brands Intermediate Holding Corp. • 2.a.k.a. Brands Midco Holding Corp. • 3.New Excelerate GP, Limited • 4.Excelerate, L.P. • 5.CK Holdco Pty., Ltd. • 6.CK Bidco Pty. Ltd • 7.CK Holdings LP • 8.Culture Kings Group Pty Ltd • 9.Culture Kings Pty Ltd • 10.Polly Holdco Pty Ltd ...

AKA stock data

Calendar

10 Aug 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 30.78M 30.78M 30.78M 30.78M 30.78M 30.78M
Cash burn (monthly) 4.3M 2.15M 1.72M 915.58K 904K 757.67K
Cash used (since last report) 13.14M 6.59M 5.27M 2.8M 2.76M 2.32M
Cash remaining 17.63M 24.19M 25.51M 27.98M 28.01M 28.46M
Runway (months of cash) 4.1 11.2 14.8 30.6 31.0 37.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jun 22 Myles B Mccormick Common Stock, $0.001 par value per share Grant Acquire A No No 0 26,385 0 66,385
1 Jun 22 Ilene Eskenazi Common Stock, $0.001 par value per share Grant Acquire A No No 0 26,385 0 34,321
1 Jun 22 Thompson Kelly Ann Common Stock, $0.001 par value per share Grant Acquire A No No 0 26,385 0 26,385
1 Jun 22 Ghosh Sourav Common Stock, $0.001 par value per share Grant Acquire A No No 0 26,385 0 26,385
15.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 52 57 -8.8%
Opened positions 7 12 -41.7%
Closed positions 12 13 -7.7%
Increased positions 21 15 +40.0%
Reduced positions 14 22 -36.4%
13F shares Current Prev Q Change
Total value 209.41M 332.34M -37.0%
Total shares 75.85M 75.16M +0.9%
Total puts 0 0
Total calls 1.12M 196.9K +466.3%
Total put/call ratio
Largest owners Shares Value Change
Summit Partners L P 67.84M $187.24M +2.7%
Stephens Investment Management 2.08M $5.75M 0.0%
Putnam Investments 1.15M $3.18M +25.3%
J. Goldman & Co 934.16K $2.58M +236.8%
Must Asset Management 672.63K $1.92M +0.5%
Schonfeld Strategic Advisors 616.58K $1.7M -3.3%
BLK Blackrock 442.79K $1.22M +22.2%
Springhouse Capital Management 440.25K $1.22M NEW
GS Goldman Sachs 361.49K $998K -6.9%
Millennium Management 228.57K $631K -53.6%
Largest transactions Shares Bought/sold Change
FMR 1.78K -1.86M -99.9%
Summit Partners L P 67.84M +1.79M +2.7%
J. Goldman & Co 934.16K +656.79K +236.8%
Springhouse Capital Management 440.25K +440.25K NEW
Millennium Management 228.57K -264.48K -53.6%
Leonard Green & Partners 0 -250K EXIT
Putnam Investments 1.15M +232.17K +25.3%
Shellback Capital 0 -112.9K EXIT
MS Morgan Stanley 149.42K +110.79K +286.9%
DB Deutsche Bank AG - Registered Shares 107.64K +102.46K +1980.0%

Financial report summary

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Risks
  • Risks Relating to COVID-19
  • The coronavirus (COVID-19) global pandemic has caused, and may continue to cause significant disruption in our industry, which has and may continue to materially impact our business, financial condition and results of operations.
  • Risks Relating to Our Business and Strategy
  • The apparel, footwear and accessories industries are subject to rapid changes in consumer preferences, and if we do not accurately anticipate and promptly respond to changes in consumer preferences, we could lose sales, our relationships with customers could be harmed and our brand loyalty could be diminished.
  • If we fail to acquire new customers, or fail to do so in a cost-effective manner, we may not be able to increase net sales or maintain profitability.
  • If we fail to retain existing customers, or fail to maintain average order value levels, we may not be able to maintain our revenue base and margins, which would have a material adverse effect on our business and operating results.
  • Our business depends on effective marketing and high customer traffic.
  • Merchandise returns could harm our business.
  • We may be unsuccessful in identifying brands to acquire and in integrating and managing our acquisitions and investments to expand the number of brands on our platform.
  • We may not succeed in our growth strategy.
  • Our growth plan contemplates expansion into new markets, and our efforts to expand may ultimately be unsuccessful.
  • We face risks from our international business.
  • Shipping is a critical part of our business and any interruptions in, or increased costs of, shipping could adversely affect our operating results.
  • Our direct-to-consumer business model is subject to risks that could have an adverse effect on our results of operations.
  • Use of social media and influencers may materially and adversely affect our reputation or subject us to fines or other penalties.
  • If our operating results differ significantly from our expectations or the expectations of securities analysts or investors, our stock price may decline.
  • Our operating results fluctuate from period to period.
  • Certain of our key operating metrics are subject to inherent challenges in measurement, and real or perceived inaccuracies in such metrics may harm our reputation and negatively affect our business.
  • Our business and the success of our products could be harmed if we are unable to maintain our corporate integrity or the images and reputation of our brands.
  • Our brand depends on the promotion of diversity and equality and the ability to promote responsible fashion from an ethically- and sustainably-sourced supply chain. If we are unable to do so, damage to our brand and reputation could result or we may fail to expand our brand which would harm our business and results of operations.
  • We could be required to collect additional sales taxes or be subject to other tax liabilities that may increase the costs our consumers would have to pay for our offering and adversely affect our operating results.
  • Economic downturns and market conditions beyond our control, including periods of inflation, could materially adversely affect our business, operating results, financial condition and prospects.
  • Our business is exposed to the risks of foreign currency exchange rate fluctuations.
  • We may be adversely affected by weather conditions.
  • If we fail to retain key personnel or attract additional qualified personnel, effectively manage succession or hire, develop, and motivate our employees, our business, financial condition, and operating results could be adversely affected.
  • Increases in labor costs, including wages, could adversely affect our business, financial condition and results of operations.
  • Fluctuations in wage rates and the price, availability and quality of raw materials and finished goods could increase costs.
  • Our third-party suppliers and manufacturers are based primarily in China, which exposes us to risks inherent in doing business there.
  • We purchase inventory in anticipation of sales, and if we are unable to manage our inventory effectively, our operating results could be adversely affected.
  • If we experience problems with our distribution and warehouse management systems, our ability to meet customer expectations, manage inventory, complete sales transactions and achieve objectives for operating efficiencies could be adversely affected.
  • If we do not successfully optimize, operate and manage the expansion of the capacity of our fulfillment centers, our business, financial condition and results of operations could be harmed.
  • Risks Relating to the Culture Kings Acquisition
  • We may not realize all of the anticipated benefits of the Culture Kings acquisition within the expected timeframe or at all.
  • The acquisition of Culture Kings exposes us to additional business risks that could adversely affect our business.
  • Risks Relating to Laws and Regulation
  • Changes in laws or regulations relating to data privacy and security, or any actual or perceived failure by us to comply with such laws and regulations, or contractual or other obligations relating to data privacy and security, could lead to government enforcement actions (which could include civil or criminal penalties), private litigation or adverse publicity and could have a material adverse effect on our reputation, results of operations, financial condition and cash flows.
  • Changes in accounting standards and subjective assumptions, estimates and judgments by management related to complex accounting matters could significantly affect our financial results or financial condition.
  • Our suppliers may not comply with our legal and social compliance program requirements, which could adversely affect our reputation.
  • Our business is subject to federal, state, local and international laws and regulations regarding consumer protection, promotions, safety and other matters. The costs of compliance with, or the violation of, such laws and regulations by us or by independent suppliers who manufacture products for us could have an adverse effect on our operations and cash flows, as well as on our reputation.
  • Unfavorable changes or failure by us to comply with evolving internet and eCommerce regulations could substantially harm our business and operating results.
  • Developments in labor and employment law and any unionizing efforts by employees could have a material adverse effect on our results of operations.
  • Climate change and increased focus by governmental and non-governmental organizations, customers, consumers and investors on sustainability issues, including those related to climate change, may adversely affect our business and financial results and damage our reputation.
  • Changes to U.S., Australian or international trade policy, tariff and import/export regulations or our failure to comply with such regulations may have a material adverse effect on our reputation, business, financial condition and results of operations.
  • Our reliance on overseas manufacturing and supply partners, including vendors located in jurisdictions presenting an increased risk of bribery and corruption, exposes us to legal, reputational and supply chain risk through the potential for violations of federal and international anti-corruption law.
  • We depend upon third-party suppliers and manufacturers, making us vulnerable to supply disruptions and price fluctuations.
  • Risks Relating to Our Intellectual Property Rights and Our Technology
  • We rely significantly on information technology. Any inadequacy, interruption, integration failure or security failure of this technology could harm our ability to effectively operate our business.
  • A security breach or other disruption to our information technology systems could result in the loss, theft, misuse, unauthorized disclosure or unauthorized access of customer, supplier, or sensitive company information or could disrupt our operations, which could damage our relationships with customers, suppliers or employees, expose us to litigation or regulatory proceedings or harm our reputation, any of which could materially adversely affect our business, financial condition or results of operations.
  • Customer growth and activity on mobile devices depends upon effective use of mobile operating systems, networks and standards that we do not control.
  • If the use of “cookie” tracking technologies is further restricted, regulated or blocked, or if changes in technology cause cookies to become less reliable or acceptable as a means of tracking consumer behavior, the amount or accuracy of internet user information we collect would decrease, which could harm our business and operating results.
  • Third parties may claim that we are infringing, misappropriating or otherwise violating their intellectual property rights or those of others. Intellectual property-related litigation and proceedings are expensive and time consuming to defend, and, if resolved adversely, could materially adversely impact our business, financial condition and results of operations. Intellectual property-related claims could also cause us to lose access to third-party service providers that we rely upon in the conduct of our business.
  • Failure to adequately establish, maintain, protect and enforce our intellectual property or proprietary rights, or prevent third parties from making unauthorized use of such rights, such as by counterfeiting of our products, could reduce sales and adversely affect the value of our brands.
  • We are subject to payments-related risks.
  • System interruptions that impair customer access to our sites or other performance failures in our technology infrastructure could damage our business, reputation and brand and substantially harm our business and results of operations.
  • Significant disruption during our live events may adversely affect our business.
  • We are subject to risks related to accepting cryptocurrencies as a form of payment.
  • Risks Relating to Our Organizational Structure
  • We have a short operating history as a holding company and, as a result, our past results may not be indicative of future operating performance.
  • Our decentralized brand management structure could negatively impact our business.
  • Our management team has limited experience managing a public company.
  • If we cannot maintain our corporate culture as we grow and mature as a public company, our business may be harmed.
  • Risks Relating to our Indebtedness
  • Any indebtedness we may incur in the future could adversely affect our business and growth prospects.
  • Despite current indebtedness levels and restrictive covenants, we may still be able to incur substantially more indebtedness or make certain restricted payments, which could further exacerbate the risks associated with our substantial indebtedness.
  • We may not be able to generate sufficient cash flow to service all of our indebtedness, and may be forced to take other actions to satisfy our obligations under such indebtedness, which may not be successful.
  • The terms of the financing documents that govern our new credit facility restrict our current and future operations, particularly our ability to respond to changes or to take certain actions.
  • We may be unable to refinance our indebtedness.
  • Changes in the method of determining LIBOR, or the replacement of LIBOR with an alternative reference rate, may adversely affect interest expense related to outstanding debt.
  • A lowering or withdrawal of the ratings assigned to our debt securities by rating agencies may increase our future borrowing costs and reduce our access to capital.
  • Our failure to raise additional capital or generate cash flows necessary to expand our operations and invest in the future could reduce our ability to compete successfully and harm our results of operations.
  • Risks Relating to Ownership of Our Common Stock
  • Summit controls us, and its interests may conflict with ours or yours in the future.
  • An active trading market for our common stock may not develop.
  • Our stock price may be volatile, and the market price of our common stock may drop below the price you pay.
  • Our future operating results may fluctuate significantly and our current operating results may not be a good indication of our future performance. Fluctuations in our quarterly financial results could affect our stock price in the future.
  • As a result of becoming a public company, we are obligated to develop and maintain proper and effective internal control over financial reporting in order to comply with Section 404 of the Sarbanes-Oxley Act. If we fail to remediate our material weaknesses or if we fail to establish and maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results, meet our reporting obligations, or prevent fraud. Failure to comply with requirements to design, implement and maintain effective internal controls or any inability to report and file our financial results accurately and timely could harm our business and adversely impact investor confidence in us and, as a result, our stock price.
  • The requirements of being a public company with common stock listed on the NYSE will increase certain of our costs and require significant management focus.
  • Future sales of our common stock, or the perception in the public markets that these sales may occur, may depress our stock price.
  • For as long as we are an emerging growth company, we will not be required to comply with certain reporting requirements, including disclosure about our executive compensation that apply to other public companies.
  • We are a “controlled company” within the meaning of the rules of the NYSE and, as a result, we qualify for, and intend to rely on, exemptions from certain corporate governance requirements. You will not have the same protections as those afforded to stockholders of companies that are subject to such governance requirements.
  • Anti-takeover provisions in our certificate of incorporation documents and Delaware law might discourage or delay acquisition attempts for us that you might consider favorable.
  • Any issuance of preferred stock could make it difficult for another company to acquire us or could otherwise adversely affect holders of our common stock, which could depress the price of our common stock.
  • Our certificate of incorporation designates the Court of Chancery of the State of Delaware as the exclusive forum for certain litigation that may be initiated by our shareholders and the federal district courts of the United States as the exclusive forum for litigation arising under the Securities Act, which could limit our shareholders’ ability to obtain a favorable judicial forum for disputes with us.
  • Because we do not intend to pay cash dividends in the foreseeable future, you may not receive any return on investment unless you are able to sell your common stock for a price greater than your purchase price.
  • If securities or industry analysts do not publish research or reports about our business, if they adversely change their recommendations regarding our common stock or if our results of operations do not meet their expectations, the price of our common stock and trading volume could decline.
  • We are a holding company and conduct all of our operations through our subsidiaries.
Management Discussion
  • Net sales increased by $9.2 million, or 6%, for the three months ended June 30, 2022 compared to the same period in 2021. The overall increase in net sales was primarily driven by a 12% increase in the number of orders we processed in 2022 compared to 2021, driving an increase in sales of $15.1 million. Additionally, a decrease in our average order value of 4%, from $89 in 2021 to $85 in 2022, partially offset the increase in net sales by $5.9 million. The increase in the number of orders was driven by the growth of Princess Polly in the U.S., as well as the acquisition of mnml. The decrease in our average order value was primarily due to higher promotional activity and higher return rates. On a constant currency basis, net sales and average order value for the three months ended June 30, 2022 would have increased 11% and decreased 1%, respectively. The three months ended June 30, 2022 includes the operations of mnml, or $9.4 million of net sales.

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