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Sep 30, 2022
Beyond Q3 2022 Earnings Report
Reported financial results for the quarter ended September 30, 2022.
Key Takeaways
Overstock reported a total net revenue of $460 million, a decrease of 33% year over year. Despite the decrease in revenue, the business remained profitable for the tenth consecutive quarter, ending the quarter with a strong balance sheet and cash position. The company launched its new national brand campaign in early October, centered around its vision of "Making Dream Homes Come True."
Total net revenue was $460 million, a decrease of 33% year over year.
Gross profit was $107 million, or 23.3% of total net revenue.
Operating income was $6 million.
Cash and cash equivalents totaled $428 million at the end of the third quarter.
Forward Guidance
The company launched its new national brand campaign in early October centered around its vision of "Making Dream Homes Come True." This campaign supports efforts to increase the association of Overstock's high brand-name awareness with 'home' and positions the company well to grow market share into the future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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