Bed Bath & Beyond Reports End of Quarter Results

November 10, 2025  by Karen Parrish in Business Strategy, Industry   

The Company delivered its seventh consecutive quarter of measurable improvement towards profitability, driven by consistent progress across key financial and operational metrics. Net loss narrowed to $4.5 million, a 93% improvement year-over-year, while Adjusted EBITDA loss of $4.9 million improved 85%, underscoring management’s continued and accelerated progress to sustainable profitability.

Year-over year, gross margin improved 420 basis points to 25.3%, sales & marketing expense gained efficiency of 260 basis points to 14% of revenue, and technology and G&A expenses decreased by $13 million.

“The third quarter marked substantial progress towards achieving profitability through outstanding metric performance as well as material progress at both tZERO and GrainChain, two important platforms driving our long-term goal of becoming the ‘Everything Home’ company,” said Marcus Lemonis, Executive Chairman and Principal Executive Officer.

The Company ended the quarter with a strong liquidity position, holding over $200 million in cash, cash equivalents, restricted cash, and inventory, with an additional $36 million in transit from at-the-market offering (the “ATM”) settlements post quarter end. During the quarter, the Company:

Invested an additional $3 million in GrainChain, its blockchain supply chain asset;

Purchased the intellectual property of Kirkland’s for $10 million; and

Raised $113 million through its ATM, with proceeds intended to strengthen the balance sheet, expand existing investments, and pursue new strategic investments or acquisitions in non-retail, home-centric technology, data, products, services, and select PropTech solutions, all aimed at building out the 'Everything Home' business.

“We have made meaningful financial and operational progress this year,” said Adrianne Lee, president and chief financial officer. “For the past seven quarters, we have delivered on our commitment to improve key business metrics critical to achieving profitability. I am pleased with both the narrowing of the year-over-year revenue decline in the quarter and the stabilization of key metrics we achieved. We recognize the necessity to generate more revenue while maintaining our disciplined approach to profitability.”

Lemonis concluded, “As the Company prepares for 2026, we expect year-over-year revenue trends to turn positive. We believe this upward trajectory, combined with margin consistency, an additional $20 million in operating expense efficiencies, and improved site conversion, position the Company to achieve its profitability objectives.”

Third Quarter 2025 Results

- Net revenue of $257 million, a decrease of 17.4% year-over-year. Net revenue excluding the impact from our exit from Canada (non-GAAP) decreased 13.2% year-over-year

- Gross profit of $65 million, or 25.3% of net revenue, a 420-bps improvement year-over-year

- Sales & Marketing expense of $36 million, or 14% of net revenue, a 260-bps improvement year-over-year

- Technology and G&A expense of $33 million vs $45 million in 2024, a $13 million improvement year-over-year

- Consolidated net loss of $5 million, a $57 million improvement year-over-year

- Diluted net loss per share of $0.07; Adjusted diluted net loss per share (non-GAAP) of $0.19

- Adjusted EBITDA (non-GAAP) of ($5) million, a $27 million improvement year-over-year

- Cash, cash equivalents, restricted cash, and inventory totaled $202 million at the end of the third quarter

Earnings Webcast and Replay Information
A replay of the Bed Bath & Beyond webcast to discuss its third quarter 2025 financial results and its strategic vision, key initiatives, and provide business updates is available at https://investors.beyond.com shortly after the live event has ended.

On Oct 27, in connection with the release of financial results, the Company posted an updated presentation in the “Events & Presentation” portion of its investor relations website at https://investors.beyond.com.