U.S. – Wayfair Inc., one of the world’s largest online destinations for the home, reported financial results for its second quarter ended June 30, 2018. Direct Retail net revenue, consisting of sales generated primarily through Wayfair’s sites, increased USD 538.5 million to USD 1.6 billion, up 48.8% year over year.

The Company also reported gross profit in Q2 2018 of USD 385.0 million or 23.3% of total net revenue. At the end of the second quarter, cash, cash equivalents, and short-term and long-term investments totaled USD 585.2 million.

“We are pleased to report a record second quarter and our largest yet year-over-year dollar growth in Direct Retail net revenue. This recent quarter included our biggest revenue day in the history of the company as we introduced Way Day, the first-ever retail holiday for home,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. “Our long-term investments in further developing our logistics networks, international business, and in scaling headcount to improve our product and service offerings are resonating strongly with new and returning customers. By focusing on bringing customers the best possible experience in shopping for the home, from the home, we are leading the way in our category. We are delighted with the progress that we are making and the way in which we are positioned to keep taking market share as dollars shift online.”

The number of active customers in Wayfair’s Direct Retail business reached 12.8 million as of June 30, 2018, an increase of 34.0% year over year. Repeat customers placed 66.0% of total orders in the second quarter of 2018, compared to 61.3% in the second quarter of 2017 and orders from repeat customers totaled 4.3 million in the second quarter of 2018, an increase of 62.3% year over year.

Orders delivered in the second quarter of 2018 were 6.5 million, an increase of 50.8% year over year as average order value was USD 254 for the second quarter of 2018, compared to USD 258 in the second quarter of 2017. In the second quarter of 2018, 49.2% of total orders delivered for their Direct Retail business were placed via a mobile device, compared to 44.1% in the second quarter of 2017.

Headquartered in Boston, Massachusetts with operations throughout North America and Europe, the company employs more than 9,700 people. Through technology and innovation, Wayfair makes it possible for shoppers to quickly and easily find exactly what they want from a selection of more than 10 million items across home furnishings, décor, home improvement, housewares and more.

The Wayfair family of sites includes: Wayfair, Joss & Main, AllModern, Birch Lane and Perigold.