Wayfair has reported its financial results for its Q3 ended 30th September 2024. The group recorded total net revenue of $2.9b (-2.0% ToY), with international net revenue of $372m (consistent YoY).
Gross profit was $873m, or 30.3% of total net revenue, while Wayfair's net loss was $74m (and non-GAAP adjusted EBITDA $119m).
"Q3 marked another proofpoint of resilience for Wayfair, with further market share capture in the face of sustained challenges in the category," says Niraj Shah, CEO, co-founder and co-chairman.
"Once again, we navigated a dynamic consumer environment while driving further discipline on costs to achieve a mid-single-digit adjusted EBITDA margin for the second quarter in a row. As I've mentioned before, our north star is driving adjusted EBITDA dollars in excess of equity-based compensation and capital expenditures, and we're pleased to be making noteworthy improvements across each of these fronts.
"We remain laser-focused on delivering healthy profitability while setting ourselves up for success as the category rebounds. The core goal across each of our initiatives in 2024 is to foster customer loyalty and spur repeat business while driving economic value. We're not just aiming for short-term gains, but building long-lasting relationships with our customers that will be accretive on both the top and bottom lines."
Wayfair's active customers totalled 21.7 million as of September 30th 2024, a decrease of -2.7% YoY. AOV was $310 in Q3, compared to $297 in Q3 2023.
