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Stock Market Live July 1, 2026: S&P 500 (SPY) Lower as Investors Wait on the Fed and Fresh Economic Data
Wayfair

Wayfair (W) Q1 2026 Earnings

Reported Apr 30, 2026 at 7:06 AM ET · SEC Source

Q1 26 EPS

$0.26

MISS 6.81%

Est. $0.28

Q1 26 Revenue

$2.93B

BEAT +1.47%

Est. $2.89B

vs S&P Since Q1 26

+25.7%

BEATING MARKET

W +29.5% vs S&P +3.8%

Market Reaction

Did W Beat Earnings? Q1 2026 Results

Wayfair posted a mixed first quarter for fiscal 2026, beating on revenue while falling short on the bottom line, as the online home furnishings retailer reported earnings per share of $0.26 against a consensus estimate of $0.28, a miss of 6.81% that … Read more Wayfair posted a mixed first quarter for fiscal 2026, beating on revenue while falling short on the bottom line, as the online home furnishings retailer reported earnings per share of $0.26 against a consensus estimate of $0.28, a miss of 6.81% that snapped a four-consecutive-quarter streak of EPS beats. Revenue of $2.93 billion topped analyst expectations of $2.89 billion by 1.49%, representing 7.4% year-over-year growth, with the company crediting broad-based market share gains in a difficult home goods environment. The most meaningful profitability driver was a dramatic narrowing of the GAAP operating loss to $11 million from $122 million a year ago, reflecting lower advertising spend, the elimination of impairment charges, and reduced restructuring costs. Adjusted EBITDA margin expanded to 5.2% from 3.9%, the best Q1 reading in recent memory. Active customers rose 1.4% to 21.4 million, reversing prior-period pressure. Management outlined continued focus on growing Adjusted EBITDA faster than revenue and deploying cash toward upcoming debt maturities, though a director's notable share sale ahead of results added a note of caution for some investors.

Key Takeaways

  • • 7.4% year-over-year net revenue growth driven by market share gains
  • • Active customer growth of 1.4% year over year to 21.4 million
  • • Average order value increased to $312 from $301 year over year
  • • LTM net revenue per active customer increased 5.2% to $591
  • • Orders per customer improved to 1.88 from 1.85
  • • Orders delivered grew 3.3% to 9.4 million
  • • Adjusted EBITDA margin expanded to 5.2% from 3.9%
  • • Advertising expense decreased to $329 million from $344 million
  • • Mobile order penetration reached 64.7%, up from 63.4%

W Forward Guidance & Outlook

CEO Niraj Shah articulated a consistent strategic plan: outperform the home furnishings category to drive top-line growth, maximize Adjusted EBITDA dollars growing faster than revenue, and deploy excess cash to manage upcoming debt maturities and dilution. The company expressed particular encouragement about accelerating market share gains and excitement about the opportunity ahead, though no specific numerical guidance was provided.

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W YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

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W Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26
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W Revenue by Geography

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“Our strong revenue performance in Q1 translated to noteworthy profitability. Our 5.2% Adjusted EBITDA margin in the first quarter is the best Q1 result we've delivered in five years and approaches what we reported in the first quarter of 2021. Our plan remains consistent: increasingly outperform the category to drive top-line growth, flow that growth through in a manner that maximizes EBITDA dollars and grows them faster than revenue, and deploy our excess cash to manage both our upcoming maturities and dilution.”

— Niraj Shah, Q1 2026 Earnings Press Release

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