WAYFAIR Announces First Quarter Financial Results

April 30, 2026  by Karen Parrish in Business Strategy, Industry   

First Quarter 2026 Financial Highlights

- Total net revenue of $2.9 billion, increased $201 million, up 7.4% year over year

- U.S. net revenue of $2.6 billion, increased $183 million, up 7.5% year over year

- International net revenue of $319 million, increased $18 million, up 6.0% year over year. International Net Revenue Constant Currency Growth was 1.7%

- Gross profit was $880 million, or 30.0% of total net revenue. Non-GAAP Contribution Profit was $440 million, or 15.0% of net revenue

- Net loss was $105 million and Non-GAAP Adjusted EBITDA was $151 million

- Diluted loss per share was $0.80 and Non-GAAP Adjusted Diluted Earnings Per Share was $0.26

- Net cash used in operating activities was $52 million and Non-GAAP Free Cash Flow was ($106) million

- Cash, cash equivalents and short-term investments totaled $1.1 billion and total liquidity was $1.5 billion, including availability under our revolving credit facility

"Our strong revenue performance in Q1 translated to noteworthy profitability. Our 5.2% Adjusted EBITDA margin in the first quarter is the best Q1 result we've delivered in five years and approaches what we reported in the first quarter of 2021. Our plan remains consistent: increasingly outperform the category to drive top-line growth, flow that growth through in a manner that maximizes EBITDA dollars and grows them faster than revenue, and deploy our excess cash to manage both our upcoming maturities and dilution," said Niraj Shah, CEO, co-founder and co-chairman, Wayfair.

"While the home furnishings category experienced a choppy start to the year, we outperformed the market by a high single-digit spread in the first quarter, based on our estimates. Our scale enables us to deliver a customer experience that is difficult to replicate, supported by years of investment in our core offering, global logistics network, and technology platform. We are particularly encouraged by the pace at which our share gains are accelerating and remain excited about the opportunity ahead."

Other First Quarter Highlights 

- Active customers totaled 21.4 million as of March 31, 2026, an increase of 1.4% year over year

- LTM net revenue per active customer was $591 as of March 31, 2026, an increase of 5.2% year over year

- Orders per customer, measured as LTM orders delivered divided by active customers, was 1.88 for the first quarter of 2026, compared to 1.85 for the first quarter of 2025

- Orders delivered in the first quarter of 2026 were 9.4 million, an increase of 3.3% year over year

- Repeat customers placed 79.8% of total orders delivered in the first quarter of 2026, compared to 80.5% in the first quarter of 2025

- Repeat customers placed 7.5 million orders in the first quarter of 2026, an increase of 2.7% year over year

- Average order value was $312 in the first quarter of 2026, compared to $301 in the first quarter of 2025

- 64.7% of total orders delivered were placed via a mobile device in the first quarter of 2026, compared to 63.4% in the first quarter of 2025

Webcast and Conference Call

An archive of the webcast conference call will be available shortly after the call ends on Wayfair's Investor website at investor.wayfair.com. Important information may be disseminated initially or exclusively via the Investor website; investors should consult the site to access this information.