Wayfair, in reporting fourth-quarter revenue gains, stated its strategic plan focused on returning to growth gained traction during the period.
Net loss by Wayfair in its fourth quarter was $128 million, or $1.02 per diluted share, versus a net loss of $174 million, or $1.49 per diluted share, in the year-prior quarter. Adjusted for one-time events, net loss was $32 million, or 25 cents per diluted share, versus a net loss per share of $12 million, or 11 cents per diluted share, in the year-earlier period, the company noted.
A Zacks Investment Research analyst consensus estimate called for earnings of two cents per adjusted diluted share and revenues of $3.07 billion.
Net revenue was $3.12 billion versus $3.11 billion in the year-before quarter. Loss from operations was $117 million versus a loss from operations of $172 million in the year-previous period.
Net revenue in the United States was $2.74 million in the quarter versus $2.71 million in the year-past period.
For the full year, net loss was $492 million, or $4.01 per diluted share, versus a net loss of $738 million, or $6.47 per diluted share, in the year prior. Adjusted earnings were $16 million, or 13 cents cents per diluted share, versus an adjusted net loss of $127 million, or $1.13 per diluted share, in the year earlier.
Net revenue was $11.85 billion versus $12 billion in the year before. Loss from operations was $461 million versus $813 million in the year previous.
Niraj Shah, CEO, co-founder and co-chairman, Wayfair, noted the company continues to progress with its return-to-growth strategy and its plans to make considered investments. In 2025, Wayfair expects company investments in competitive differentiation to boost growth, even as the home goods sector remains challenged particularly by a soft housing market. Wayfair’s tech re-platforming is proceeding, which gives the company the means to use enhanced technology resources to drive growth, Shah added.
Marketing has been an area of investment for Wayfair. Shah said the company has new campaigns and new influencer partnerships on tap, and it continues to test outreach through channels such as YouTube and AppLovin.
“The fourth quarter was a strong conclusion to the year across multiple fronts,” Shah said. “From a top-line performance perspective, we ended 2024 on a high note, with net revenue showing positive year-over-year growth. These results enabled us to drive nearly $100 million dollars of adjusted EBITDA in the quarter, and deliver on our goal of approximately 50% year-over-year dollar growth for 2024. Our strong financial performance enabled us to tap into the high yield markets for the first time, putting us in the strongest balance sheet position in many years. We’re making smart, high-return investments across the business, and at the same time remain committed to growing adjusted EBITDA dollars year-over-year. We are confident this approach sets us up well for a compelling payoff over 2025 and are excited to bring all of our stakeholders with us on this next leg of the Wayfair journey.”
