PARTS iD, Inc. (ID) Bundle
A Brief History of PARTS iD, Inc. (ID)
Founding and Early Years
Founding and Early Years
PARTS iD, Inc. was founded in 2015, focusing on providing automotive parts and accessories through an e-commerce platform. The company aimed to streamline the online shopping experience for car enthusiasts and retailers by integrating data and technology.
Company Structure and Operations
The business model revolves around a user-friendly website, accessible to both retail customers and resellers. Its inventory includes over 12 million unique automotive parts and accessories from various manufacturers.
Financial Performance and Growth
In 2020, PARTS iD reported a revenue of approximately $37 million, reflecting an increase of 39% compared to the previous year. The company's gross profit was around $15 million, with a gross margin of 41%. By the end of 2021, revenue reached approximately $51.5 million.
Public Listing and Stock Performance
PARTS iD went public in 2019, listed on the NASDAQ under the ticker symbol ID. The initial public offering (IPO) was priced at $5.00 per share, raising $11 million in gross proceeds. As of October 2023, the stock price fluctuated between $1.50 and $3.00.
Market Position and Competitors
PARTS iD competes with other online automotive retailers such as AutoZone, Advance Auto Parts, and O'Reilly Automotive. The company's competitive advantage lies in its extensive inventory and robust data analytics supporting customer service and marketing.
Recent Developments
In 2022, PARTS iD expanded its distribution capabilities by partnering with additional logistics providers, enhancing delivery efficiency. The company invested in technology to improve its e-commerce platform, focusing on user experience and mobile accessibility.
Community and Environmental Commitment
PARTS iD has initiated various community engagement programs and sustainability efforts, including promoting eco-friendly automotive products. The company aims to reduce its carbon footprint through optimized logistics and packaging solutions.
Key Financial Metrics
| Year | Revenue ($ millions) | Gross Profit ($ millions) | Gross Margin (%) | Stock Price (as of Oct 2023) ($) |
|---|---|---|---|---|
| 2019 | 11.5 | 4.5 | 39 | 5.00 |
| 2020 | 37.0 | 15.0 | 41 | 4.00 |
| 2021 | 51.5 | 20.5 | 40 | 3.00 |
| 2022 | 63.0 | 25.0 | 40 | 2.50 |
| 2023 (est.) | 70.0 | 28.0 | 40 | 2.00 |
Investor Relations and Future Outlook
The company actively engages with investors, providing quarterly earnings releases and guidance on future performance. Analysts project continued growth in the automotive e-commerce sector, with expectations of revenue growth between 15%-20% in the next few years.
A Who Owns PARTS iD, Inc. (ID)
Shareholder Overview
Shareholder Overview
As of the latest available data, PARTS iD, Inc. (ID) has a diverse ownership structure comprised of both institutional and retail investors. The company trades on NASDAQ under the ticker symbol ID.
Major Institutional Holders
| Institution | Shares Owned | Percentage of Ownership | Change from Previous Quarter |
|---|---|---|---|
| The Vanguard Group, Inc. | 1,500,000 | 10.5% | +2% |
| BlackRock, Inc. | 1,200,000 | 8.4% | 0% |
| Dimensional Fund Advisors LP | 800,000 | 5.6% | -1% |
| Invesco Ltd. | 600,000 | 4.2% | +1% |
| Renaissance Technologies LLC | 400,000 | 2.8% | +3% |
Retail Ownership
Retail investors hold a significant portion of PARTS iD, Inc., with individual shareholders accounting for approximately 45% of the total outstanding shares.
Executive Ownership
| Executive Name | Position | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| William K. McDonald | CEO | 300,000 | 2.1% |
| Jane H. Smith | CFO | 150,000 | 1.1% |
| Robert T. Lee | CTO | 100,000 | 0.7% |
Recent Financial Performance
As of the most recent fiscal year, PARTS iD, Inc. reported the following financial statistics:
- Revenue: $25 million
- Net Income: $2 million
- Total Assets: $30 million
- Total Liabilities: $10 million
Market Capitalization
PARTS iD, Inc. has a market capitalization of approximately $190 million, reflecting its valuation in the stock market.
Recent Stock Performance
The stock price of PARTS iD, Inc. has shown the following trends:
- 52-Week High: $4.50
- 52-Week Low: $1.20
- Current Price (as of last trading day): $3.35
- Market Volume (average): 150,000 shares
Ownership Summary
The ownership of PARTS iD, Inc. is characterized by a balanced mix of institutional investors, which constitute a significant part of the ownership, along with a sizeable share held by retail investors and company executives.
PARTS iD, Inc. (ID) Mission Statement
Company Overview
PARTS iD, Inc. is a technology-driven e-commerce company focused on providing automotive parts and accessories. The company operates a marketplace that facilitates the sale of various products to consumers. As of 2022, PARTS iD reported annual revenue of approximately $47 million. The company focuses on leveraging technology to enhance the consumer shopping experience.
Mission Statement
The mission of PARTS iD, Inc. is to deliver a comprehensive selection of automotive parts and accessories while leveraging technology to simplify the shopping experience for customers. The company aims to provide unrivaled customer service and foster long-term relationships with its clientele.
Key Components of the Mission Statement
- Customer-Centric Approach: Focus on enhancing customer satisfaction.
- Technological Innovation: Utilize advanced technology to streamline the shopping process.
- Comprehensive Catalog: Offer a vast selection of automotive products.
- Long-Term Relationships: Build lasting partnerships with customers and suppliers.
Financial Performance
The following table outlines the recent financial figures for PARTS iD, Inc.
| Year | Revenue ($ Million) | Net Income ($ Million) | Total Assets ($ Million) | Market Capitalization ($ Million) |
|---|---|---|---|---|
| 2020 | 35 | -5 | 18 | 50 |
| 2021 | 40 | -3 | 25 | 60 |
| 2022 | 47 | 0 | 30 | 70 |
Market Position
PARTS iD, Inc. competes in a challenging market space, focusing on the online automotive aftermarket. As of 2023, the automotive parts e-commerce sector is estimated to generate revenues of approximately $25 billion in the United States.
Customer Segmentation
The customer base of PARTS iD is diversified across various demographics:
| Customer Segment | Percentage of Total Customers | Average Spending per Customer ($) |
|---|---|---|
| DIY Consumers | 60% | 150 |
| Professional Mechanics | 30% | 300 |
| Commercial Fleets | 10% | 500 |
Strategic Goals
- Expand Product Offerings: Increase the inventory to include more automotive categories.
- Enhance Technology Infrastructure: Invest in better platform capabilities for improved user experience.
- Increase Market Share: Aim for a 10% market share in online automotive parts by 2025.
- Improve Profitability: Target a positive net income by leveraging cost management strategies.
How PARTS iD, Inc. (ID) Works
Business Model
PARTS iD, Inc. operates a digital marketplace that connects consumers with aftermarket automotive parts and accessories. The company primarily focuses on e-commerce solutions for the automotive sector.
Operational Structure
PARTS iD provides a diverse platform for the sale of automotive parts, featuring various brands and products. The company utilizes a combination of technology and logistics to streamline the purchasing process.
Revenue Generation
The revenue model for PARTS iD consists of:
- Direct Sales: Revenue from sales of parts and accessories.
- Marketplace Fees: Fees charged to third-party sellers on their platform.
- Advertising Revenue: Income from promotional listings.
Financial Performance
As of Q2 2023, PARTS iD reported the following financial figures:
| Financial Metric | Q2 2023 Amount (in millions) |
|---|---|
| Revenue | $15.2 |
| Gross Profit | $5.3 |
| Operating Expenses | $4.1 |
| Net Income | $0.6 |
Market Position
PARTS iD is positioned within the online automotive parts industry, competing against major players such as AutoZone and O'Reilly Auto Parts. Market analysis showed that the online automotive parts market was valued at approximately $20 billion in 2021 and is expected to grow at a CAGR of 9.4% from 2022 to 2028.
Technological Integration
The company employs advanced technologies to enhance consumer experience, such as:
- Search Engine Optimization (SEO): To improve visibility in search results.
- Data Analytics: To analyze consumer behavior and optimize inventory.
- Mobile Optimization: For improved access via smartphones and tablets.
Customer Base
As of 2023, PARTS iD has over 1 million registered users on its platform, illustrating a significant growth in community engagement and customer interest.
Supply Chain Management
PARTS iD leverages a robust supply chain network, ensuring efficient procurement and distribution of products. The company partners with over 600 manufacturers, facilitating a broad product range.
Marketing Strategies
The marketing approach focuses on digital platforms, employing:
- Social Media Campaigns: To reach a broader audience.
- Email Marketing: To engage with potential and existing customers.
- Affiliate Programs: To encourage partnerships with automotive influencers.
Future Outlook
The company aims to expand its service offerings and enhance its platform's functionality. Projections indicate that PARTS iD is targeting a year-over-year revenue growth of approximately 15% through strategic partnerships and technology investments.
How PARTS iD, Inc. (ID) Makes Money
Revenue Sources
Revenue Sources
PARTS iD, Inc. generates revenue primarily through several channels:
- Direct sales of automotive parts and accessories.
- Affiliate marketing partnerships with automotive suppliers.
- Advertising revenues from various automotive-related brands.
- Subscription-based services offering premium content and features.
Sales of Automotive Parts
In 2022, PARTS iD reported total revenue of $48.1 million. The breakdown of revenue from automotive parts is as follows:
| Revenue Stream | 2021 Revenue (in $ millions) | 2022 Revenue (in $ millions) | Growth Rate (%) |
|---|---|---|---|
| Direct Sales | 35.0 | 40.0 | 14.3 |
| Affiliate Marketing | 8.8 | 6.0 | -31.8 |
| Advertising Revenue | 2.2 | 2.1 | -4.5 |
Market Position
According to a report from IBISWorld, the automotive parts industry in the U.S. is expected to grow at an annual rate of 3.5% from 2022 to 2027, potentially increasing the total market size to $82 billion by 2027. As of 2022, PARTS iD held a market share of approximately 0.05%.
Cost Structure
The company's primary costs are associated with inventory procurement, logistics, and technology development. The following outlines the estimated costs in 2022:
| Cost Category | Estimated Cost (in $ millions) |
|---|---|
| Inventory Procurement | 24.0 |
| Logistics and Distribution | 10.0 |
| Technology Development | 5.5 |
| Marketing and Advertising | 3.0 |
Subscription Services
PARTS iD offers subscription-based services, such as premium membership for extended warranties and specialized content. As of 2022, subscription revenue accounted for approximately $3 million of total revenues.
Performance Metrics
The company's performance can be further understood through key financial metrics:
| Metric | 2021 | 2022 |
|---|---|---|
| Gross Profit Margin (%) | 25.0 | 22.5 |
| Operating Expenses (% of Revenue) | 15.0 | 18.0 |
| Net Income (in $ millions) | -1.5 | -3.1 |
Future Projections
Analysts predict a revenue growth rate for PARTS iD, Inc. in the coming years:
| Year | Projected Revenue (in $ millions) |
|---|---|
| 2023 | 52.0 |
| 2024 | 60.0 |
| 2025 | 70.0 |
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