Wayfair Q1 net revenue $2.8B, net loss $355M, expects positive EBITDA in Q2

Wayfair Inc.

2023-Q1 EPS reported -$3.22 revenue$2,774,000,000

Net revenue $2.774B, down 7.3% YoY; U.S. $2.4B (-5.0%), International $359M (-20.4%).
Net loss $355M; diluted EPS loss $3.22; Non-GAAP Adjusted EBITDA loss $(14)M, improving toward breakeven.
Active customers 21.7M, down 14.6% YoY; LTM net revenue per active customer $552 (+6.2%).
Orders delivered 9.7M (-6.7% YoY); repeat customers placed 79.1% of total orders.
Management expects positive Adjusted EBITDA in Q2 2023; cites market share gains and cost improvements.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Wayfair Inc. reported first quarter ended March 31, 2023 results: revenue $2.8 billion, net income $355 million, EPS $3.22. Guidance initiated.

Period: first quarter ended March 31, 2023
Revenue: $2.8 billion
Net income: $355 million
EPS: $3.22
Guidance: initiated
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Highlights • Total net revenue of $2.8 billion decreased $219 million, down 7.3% year over year • U.S. net revenue of $2.4 billion decreased $127 million, down 5.0% year over year • International net revenue of $359 million decreased $92 million, down 20.4% year over year. International Net Revenue Constant Currency Growth was (14.4)% • Gross profit was $821 million or 29.6% of total net revenue • Net loss was $355 million and Non-GAAP Adjusted EBITDA was ($14) million • Diluted loss per share was $3.22 and Non-GAAP Adjusted Diluted Loss Per Share was $1.13 • Net cash used in operating activities was $147 million and Non-GAAP Free Cash Flow was ($234) million • Cash, cash equivalents and short-term investments totaled $1.0 billion and total liquidity was $1.6 billion including availability under our revolving credit facility

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Source: SEC EDGAR

accession 0001616707-23-000078

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