Wayfair Inc

Latest Results (21.11.2025):

Wayfair Inc. reported results for the second quarter of 2025 (Q2 2025): total net revenue of $3.3 billion with 21.0 million active customers, net income of $15 million and Non‑GAAP Adjusted EBITDA of $205 million, alongside $1.4 billion in cash and short‑term investments (total liquidity $1.8 billion).

Revenue

Q2 2025 net revenue was $3,273 million, up 5.0% year‑over‑year (6.0% growth excluding the impact of the German exit). U.S. revenue was $2,885 million (+5.3%) and International was $399 million (+3.1%; constant currency +2.1%).

Profitability

Gross profit was $984 million (30.1% of revenue). GAAP net income was $15 million; Adjusted EBITDA was $205 million (≈6.3% of revenue). Diluted GAAP EPS was $0.11; Adjusted diluted EPS was $0.87.

Cash & liquidity

Net cash provided by operating activities was $273 million; Non‑GAAP Free Cash Flow was $230 million. Cash, cash equivalents and short‑term investments totaled $1.4 billion, with total liquidity of $1.8 billion including the revolver.

Customers & engagement

Active customers were 21.0 million as of June 30, 2025 (down 4.5% YoY). LTM net revenue per active customer rose to $572 (+5.9% YoY). Orders delivered in the quarter were 10.0 million (flat YoY); average order value was $328 (vs. $313 in Q2 2024).

Other operating metrics

Repeat customers placed 80.7% of orders (vs. 81.7% a year ago) and contributed 8.1 million orders. Orders per customer were 1.86 (vs. 1.85 prior year). Mobile accounted for 62.9% of orders (slightly down).

Management commentary

CEO Niraj Shah characterized Q2 2025 as strong growth with expanding profitability, calling the ~6%+ Adjusted EBITDA margin evidence of model leverage and noting this is the highest revenue growth (ex‑Germany) since early 2021. Summarized from source with an LLMView Source