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Dec 31, 2022
Beyond Q4 2022 Earnings Report
Q4 and full year 2022 financial results announced, with gross margin in line with committed target despite elevated promotions.
Key Takeaways
Overstock reported a decrease in total net revenue by 34% year over year, with a net loss of $16 million for the fourth quarter of 2022. The company maintained strong operational discipline and delivered another quarter of positive adjusted EBITDA, while navigating shifting consumer demand and a highly promotional competitive environment.
Total net revenue was $405 million, a decrease of 34% year over year.
Gross profit of $90 million, or 22.1% of total net revenue.
Operating loss of $3 million and Net loss of $16 million.
Cash and cash equivalents totaled $371 million at the end of the fourth quarter.
Forward Guidance
Overstock anticipates focusing on improving topline performance in 2023, leveraging its asset-light business model and strong balance sheet for success in both the short- and long-term, despite the uncertain economic environment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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