Actionable news
All posts from Actionable news
Actionable news in W: WAYFAIR Inc,

Wayfair Announces Second Quarter 2017 Results

BOSTON--(BUSINESS WIRE)--Wayfair Inc. (NYSE: W), one of the world’s largest online destinations for the home, today reported financial results for its second quarter ended June 30, 2017.

“We are pleased to report yet another exceptional quarter with strong momentum in revenue growth and profitability”

Tweet this

Second Quarter 2017 Financial Highlights

  • Direct Retail net revenue, consisting of sales generated primarily through Wayfair’s sites, increased $346.8 million to $1.1 billion, up 45.9% year over year
  • Total net revenue increased $335.9 million to $1.1 billion, up 42.7% year over year
  • Gross profit was $269.5 million or 24.0% of total net revenue
  • GAAP net loss was $38.9 million
  • Adjusted EBITDA was $(2.2) million or (0.2)% of total net revenue
  • GAAP basic and diluted net loss per share was $0.45
  • Non-GAAP free cash flow was $(27.2) million
  • At the end of the second quarter, cash, cash equivalents, and short-term and long-term investments totaled $282.7 million

"We are pleased to report yet another exceptional quarter with strong momentum in revenue growth and profitability," said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. "As consumers increasingly embrace the selection and convenience of shopping online instead of in physical brick and mortar stores, we are taking advantage of that shift and capturing market share by offering a truly differentiated, customer-centric shopping experience. From our new Search with Photo feature that allows customers to quickly find exactly the right item in a matter of seconds to our pioneering work in augmented reality technology making it possible for shoppers to see items in their home at scale before they make a purchase, we are reinventing retail and raising the bar on customer experience each and every day. Our Castlegate and Wayfair Delivery Network initiatives are enabling us to delight customers with faster delivery speeds and a seamless shopping experience from start to finish, and we are continuously expanding our product offering across multiple categories including plumbing, flooring, door and cabinet hardware, mattresses, seasonal décor and housewares. All of these developments are resonating strongly with customers, and we are excited to see strong traction for the Wayfair brand and shopping experience across the United States and our international markets in Canada, the United Kingdom and Germany. We look forward to entering the second half of the year with tremendous momentum."

Other Second Quarter Highlights

  • The number of active customers in our Direct Retail business reached 9.5 million as of June 30, 2017, an increase of 43.1% year over year
  • LTM net revenue per active customer was $402 as of June 30, 2017, a decrease of 0.5% year over year
  • Orders per customer, measured as LTM orders divided by active customers, was 1.74 for the second quarter of 2017, compared to 1.70 for the second quarter of 2016
  • Repeat customers placed 61.3% of total orders in the second quarter of 2017, compared to 57.6% in the second quarter of 2016
  • Repeat customers placed 2.6 million orders in the second quarter of 2017, an increase of 55.4% year over year
  • Orders delivered in the second quarter of 2017 were 4.3 million, an increase of 46.0% year over year
  • Average order value was $258 for the second quarter of 2017, unchanged from the second quarter of 2016
  • In the second quarter of 2017, 44.1% of total orders delivered for our Direct Retail business were placed via a mobile device, compared to 38.4% in the second quarter of 2016

Webcast and Conference Call

Wayfair will host a conference call and webcast to discuss its second quarter 2017 financial results today at 8 a.m. (ET). Investors and participants can access the call by dialing (877) 201-0168 in the U.S. and (647) 788-4901 internationally. The passcode for the conference line is 52377016. The call will also be available via live webcast at along with supporting slides. An archive of the webcast conference call will be available shortly after the call ends. The archived webcast will be available at

About Wayfair

Wayfair Inc. offers an extensive selection of home furnishings and décor across all styles and price points. The Wayfair family of sites includes:

  • Wayfair, an online destination for all things home
  • Joss & Main, where beautiful furniture and finds meet irresistible savings
  • AllModern, unbelievable prices on everything modern
  • DwellStudio, unexpected modern design for everyday life
  • Birch Lane, a collection of classic furnishings and timeless home décor

Wayfair generated $3.9 billion in net revenue for the twelve months ended June 30, 2017. Headquartered in Boston, Massachusetts with operations throughout North America and Europe, the company employs more than 6,000 people.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions.

Forward-looking statements are based on current expectations of future events. We cannot guarantee that any forward-looking statement will be accurate, although we believe that we have been reasonable in our expectations and assumptions. Investors should realize that if underlying assumptions prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections. Investors are therefore cautioned not to place undue reliance on any forward-looking statements. These forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events or otherwise.

Factors that could cause or contribute to differences in our future results include, but are not limited to: economic factors, such as interest rates and currency exchange fluctuations; our ability...