USA - Wayfair Inc. , one of the world’s largest online destinations for home furnishing products, reported financial results for the third quarter 2022 (3Q-2022).
Total net sales revenue of USD 2.8 billion decreased USD 281 million, down 9.0% year over year.
Net loss was USD 283 million and Adjusted EBITDA was USD -124 million
Active customers totaled 22.6 million as of September 30, 2022, a decrease of 22.6% year over year.
Orders delivered in the third quarter of 2022 were 8.7 million, a decrease of 20.9% year over year.
Repeat customers placed 6.8 million orders in the third quarter of 2022, a decrease of 19.0% year over year.
“We’re continuing the work we set out last quarter to control the controllables and orienting Wayfair in this environment around three key principles: driving cost efficiency, nailing the basics, and earning customer and supplier loyalty every day. We are all focused on taking the steps needed to reach adjusted EBITDA profitability and cash flow neutrality in short order,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair.
