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Sep 30
Wayfair Q3 2025 Earnings Report
Wayfair reported growth in revenue and a narrowed net loss for Q3 2025.
Key Takeaways
Wayfair delivered solid Q3 results with revenue exceeding $3.1B, driven by growth in U.S. sales and repeat customer activity. Despite a net loss of $99M, the company reached its highest EBITDA margin since the pandemic and generated positive free cash flow.
Revenue grew to $3.1B, driven by strong U.S. performance.
Adjusted EBITDA margin reached 6.7%, the highest since the pandemic.
Repeat customers drove over 80% of orders, a new record.
Free cash flow returned to positive territory at $93M.
Wayfair
Wayfair
Wayfair Revenue by Geographic Location
Revenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Wayfair expects continued margin strength and disciplined cost management to support growth, despite macroeconomic uncertainty and restructuring costs.
Positive Outlook
- Sustained growth in U.S. revenue.
- Higher contribution margins supported profitability.
- Improved order volume and average order value.
- Strong customer retention with growing repeat activity.
- Healthy liquidity position with $1.7B total liquidity.
Challenges Ahead
- Net loss remains despite operational improvements.
- Active customers declined year-over-year.
- Restructuring costs impacted results.
- International growth remains modest.
- Macroeconomic pressures and interest rates continue to weigh on the outlook.
Revenue & Expenses
Visualization of income flow from segment revenue to net income