Wayfair Inc. today announced its financial results for the third quarter ended September 30, 2024, reporting net revenue of $2.88 billion, a 2.0% decrease compared to the same period in 2023. U.S. net revenue was $2.51 billion, down 2.3% year-over-year, while International net revenue remained flat at $372 million.
The company reported a net loss of $74 million, or $0.60 per share, which is an improvement from a net loss of $163 million, or $1.40 per share, in Q3 2023. Adjusted EBITDA significantly increased to $119 million, up from $100 million in the prior year period, demonstrating improved profitability.
Active customers remained stable at 22 million, and the average order value increased to $310 from $297 in Q3 2023. CEO Niraj Shah highlighted the company's resilience and market share capture despite sustained challenges in the category, emphasizing discipline on costs to achieve a mid-single-digit Adjusted EBITDA margin.
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