W

MKT CAP:$10B

Wayfair Inc.

Market Cap

$10B

Consumer Cyclical·Specialty Retail·🇺🇸 United States·NYSE

Consumer Cyc.·Specialty Retail·🇺🇸·NYSE

Stock Price

$77.51-$29.05 (-27.26%)

Apr 23, 2026

Company Details

Wayfair Inc. engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, d...

CEO

Niraj S. Shah

IPO Date

Oct 2, 2014

Website

www.wayfair.com

Key Metrics TTM

Revenue

$12.5B

+5.1% YoY

Net Income

-$313M

EPS (Diluted)

-$2.42

Free Cash Flow

$432M

Revenue / Share

$95.58

Gross Margin

30.2%

Operating Margin

0.0%

Net Margin

-2.5%

FCF Margin

3.5%

P/S

0.8x

P/E

—

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

FY 2025

Feb 19, 2026

$12.5B+5.1%EPS -$2.42

Q4 2025

Feb 19, 2026

$3.3B+6.9%EPS -$0.89

Q3 2025

Oct 28, 2025

$3.1B+8.1%EPS -$0.76

Q2 2025

Aug 4, 2025

$3.3B+5.0%EPS $0.12

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$3.0B	$803M	-$310M
Q2 22	$3.3B	$896M	-$372M
Q3 22	$2.8B	$824M	-$372M
Q4 22	$3.1B	$893M	-$330M
Q1 23	$2.8B	$821M	-$347M
Q2 23	$3.2B	$985M	-$142M
Q3 23	$2.9B	$917M	-$152M
Q4 23	$3.1B	$944M	-$172M
Q1 24	$2.7B	$819M	-$235M
Q2 24	$3.1B	$941M	-$35M
Q3 24	$2.9B	$873M	-$74M
Q4 24	$3.1B	$941M	-$117M
Q1 25	$2.7B	$837M	-$122M
Q2 25	$3.3B	$984M	$17M
Q3 25	$3.1B	$934M	$38M
Q4 25	$3.3B	$1.0B	$69M

Valuation

Quarter	P/S	P/E
Q1 22	0.8x	—
Q2 22	0.8x	—
Q3 22	0.8x	—
Q4 22	0.8x	—
Q1 23	0.9x	—
Q2 23	0.9x	—
Q3 23	0.9x	—
Q4 23	0.9x	—
Q1 24	0.9x	—
Q2 24	0.9x	—
Q3 24	0.9x	—
Q4 24	0.9x	—
Q1 25	0.9x	—
Q2 25	0.9x	—
Q3 25	0.8x	—
Q4 25	0.8x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$226M	-$331M
Q2 22	-$115M	-$244M
Q3 22	-$431M	-$538M
Q4 22	$98M	-$19M
Q1 23	-$147M	-$234M
Q2 23	$217M	$128M
Q3 23	$121M	$42M
Q4 23	$158M	$62M
Q1 24	-$139M	-$193M
Q2 24	$245M	$183M
Q3 24	$49M	-$9M
Q4 24	$162M	$102M
Q1 25	-$96M	-$101M
Q2 25	$273M	$260M
Q3 25	$155M	$128M
Q4 25	$202M	$145M

Capital Expenditures

Quarter	CapEx
Q1 22	$105M
Q2 22	$129M
Q3 22	$107M
Q4 22	$117M
Q1 23	$87M
Q2 23	$89M
Q3 23	$79M
Q4 23	$96M
Q1 24	$54M
Q2 24	$62M
Q3 24	$58M
Q4 24	$60M
Q1 25	$5M
Q2 25	$13M
Q3 25	$27M
Q4 25	$57M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-18.5%	-7.5%
Q2 22	-14.9%	-1.5%
Q3 22	-9.0%	+0.7%
Q4 22	-4.6%	-0.5%
Q1 23	-7.3%	-5.5%
Q2 23	-3.4%	-9.4%
Q3 23	+3.7%	-3.6%
Q4 23	+0.4%	-4.2%
Q1 24	-1.6%	-5.0%
Q2 24	-1.7%	-4.9%
Q3 24	-2.0%	-4.5%
Q4 24	+0.2%	-1.5%
Q1 25	+0.0%	-3.8%
Q2 25	+5.0%	+3.3%
Q3 25	+8.1%	+4.1%
Q4 25	+6.9%	+0.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$104M	3.5%
Q2 22	$129M	3.9%
Q3 22	$122M	4.3%
Q4 22	$158M	5.1%
Q1 23	$144M	5.2%
Q2 23	$164M	5.2%
Q3 23	$139M	4.7%
Q4 23	$158M	5.1%
Q1 24	$119M	4.4%
Q2 24	$95M	3.0%
Q3 24	$95M	3.3%
Q4 24	$86M	2.8%
Q1 25	$64M	2.3%
Q2 25	$100M	3.1%
Q3 25	$88M	2.8%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	—	$777M	$336M	—
Q2 22	—	$688M	$378M	—
Q3 22	—	$656M	$353M	—
Q4 22	$224M	$163M	$1.1B	—
Q1 23	—	$624M	—	—
Q2 23	—	$630M	$771M	—
Q3 23	—	$596M	$756M	—
Q4 23	$279M	$597M	$519M	—
Q1 24	—	$534M	$441M	—
Q2 24	—	$489M	$486M	—
Q3 24	—	$480M	$354M	—
Q4 24	$257M	$474M	$549M	—
Q1 25	—	$429M	$451M	—
Q2 25	—	$465M	$372M	—
Q3 25	—	$445M	$330M	—
Q4 25	—	—	—	$941M

Revenue Segments

Quarter	International Segment	US Segment
Q1 22	$451M	$2.5B
Q2 22	$488M	$2.8B
Q3 22	$400M	$2.4B
Q4 22	$415M	$2.7B
Q1 23	$359M	$2.4B
Q2 23	$386M	$2.8B
Q3 23	$372M	$2.6B
Q4 23	$404M	$2.7B
Q1 24	$338M	$2.4B
Q2 24	$387M	$2.7B
Q3 24	$372M	$2.5B
Q4 24	$381M	$2.7B
Q1 25	$301M	$2.4B
Q2 25	$399M	$2.9B
Q3 25	$389M	$2.7B
Q4 25	$395M	$2.9B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.2B	$787M	$2.0B
Q2 22	$1.1B	$644M	$1.7B
Q3 22	$731M	$557M	$1.3B
Q4 22	$1.1B	$228M	$1.3B
Q1 23	$970M	$78M	$1.0B
Q2 23	$1.2B	$4M	$1.3B
Q3 23	$1.3B	$0	$1.3B
Q4 23	$1.3B	$29M	$1.4B
Q1 24	$1.1B	$50M	$1.2B
Q2 24	$1.3B	$39M	$1.3B
Q3 24	$1.3B	$32M	$1.3B
Q4 24	$1.3B	$56M	$1.4B
Q1 25	$1.3B	$30M	$1.4B
Q2 25	$1.3B	$52M	$1.4B
Q3 25	$1.2B	$54M	$1.2B
Q4 25	$1.5B	$66M	$1.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	105M	0.0%	+2.6%
Q2 22	105M	0.0%	-13.9%
Q3 22	106M	+1.0%	+1.9%
Q4 22	108M	+1.9%	+2.9%
Q1 23	110M	+1.9%	+4.8%
Q2 23	112M	+1.8%	+6.7%
Q3 23	116M	+3.6%	+9.4%
Q4 23	118M	+1.7%	+9.3%
Q1 24	120M	+1.7%	+9.1%
Q2 24	122M	+1.7%	+8.9%
Q3 24	123M	+0.8%	+6.0%
Q4 24	125M	+1.6%	+5.9%
Q1 25	127M	+1.6%	+5.8%
Q2 25	129M	+1.6%	+5.7%
Q3 25	130M	+0.8%	+5.7%
Q4 25	130M	+0.3%	+4.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$179.4K	17K
Q2 22	$196.9K	17K
Q3 22	$170.3K	17K
Q4 22	$197.0K	16K
Q1 23	$176.2K	16K
Q2 23	$201.4K	16K
Q3 23	$187.0K	16K
Q4 23	$216.3K	14K
Q1 24	$189.5K	14K
Q2 24	$216.5K	14K
Q3 24	$200.3K	14K
Q4 24	$231.2K	14K
Q1 25	$202.2K	14K
Q2 25	$242.4K	14K
Q3 25	$230.9K	14K
Q4 25	$260.7K	13K

Revenue / Employee