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LEAF GROUP LTD.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2021 10-Q, filed May 6, 2021. Its latest SEC filing is a 15-12B from Jun 24, 2021.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Sells made-to-order home and design products, original artwork, and advertising across lifestyle media properties to consumers, trade buyers, and advertisers.

How Did They Make Money?

Society6 is the largest revenue source and earns from product sales when goods are delivered. Saatchi Art earns commissions after artwork is delivered and the return period ends, plus fair fees and sponsorships; Media Group earns from ads shown, clicks, and sponsored content.

FY2020 revenue

Who Were Their Customers?

Marketplace goods and art are sold mainly directly to consumers, with products also distributed through third-party retailers and sales to trade and commercial buyers. Advertisers and ad providers buy advertising directly or through ad exchanges; brands and publishers also use its content-creation and hosting services.

Did Revenues Turn Into Profits?

Not on paper. It lost $8.9M in FY2020, but brought in more cash than it spent: $4M of free cash flow.

Operating income, FY2020
−8% of revenue
▼ −34% (Loss) vs FY2019 (−$27M, −17%)
Net income, FY2020
−4% of revenue
▼ −67% (Loss) vs FY2019 (−$26.8M, −17%)
Free cash flow, FY2020
2% of revenue
▲ Now profitable vs FY2019 (−$11.3M, −7%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q1 FY2021, the three months to Mar 31, 2021
Revenue
▲ +58%
vs $32.9M in Q1 FY2020
Net income
▼ −41% (Loss)
vs −$10.7M in Q1 FY2020
  • Jun 14, 2021 Graham Holdings completed its acquisition of Leaf Group Leaf Group shares were canceled for cash consideration of $8.50 per share in a transaction valued at approximately $323 million.

Grew. Revenue grew 87% in 4 years, from $113.5M in FY2016 to $212.1M in FY2020, about 17% a year.

Who Did They Compete With?

Competes with RedBubble, Threadless, Minted, Etsy, Wayfair, Urban Outfitters, West Elm, Artfinder, Artspace, Rise Art, eBay, Amazon Art, Facebook, TikTok, Snapchat, Instagram, and Pinterest

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