Q1 25 EPS
$0.10
BEAT +150.86%
Est. $-0.20
Q1 25 Revenue
$2.73B
BEAT +0.82%
Est. $2.71B
vs S&P Since Q1 25
+134.6%
BEATING MARKET
W +168.4% vs S&P +33.8%
Market Reaction
Did W Beat Earnings? Q1 2025 Results
Wayfair delivered a sharper-than-expected profit in the first quarter of 2025, posting non-GAAP adjusted diluted EPS of $0.10 against a consensus estimate of negative $0.20, a beat of 150.86%, while revenue of $2.73 billion edged past the $2.71 billi… Read more Wayfair delivered a sharper-than-expected profit in the first quarter of 2025, posting non-GAAP adjusted diluted EPS of $0.10 against a consensus estimate of negative $0.20, a beat of 150.86%, while revenue of $2.73 billion edged past the $2.71 billion estimate by 0.82% and held essentially flat year over year. The headline numbers were driven primarily by aggressive cost discipline, with selling, operations, technology, general and administrative expenses falling by $105 million and equity-based compensation declining $59 million, helping narrow the net loss to $113 million from $248 million a year ago and lifting Adjusted EBITDA to $106 million at a 3.9% margin. The quarter carried notable one-time weight, including $56 million in restructuring charges tied largely to Wayfair's ongoing exit from Germany and a March workforce reduction. Active customers slipped 5.4% to 21.1 million, though average order value climbed to $301 from $285. Looking ahead, management flagged tariff uncertainty as a persistent headwind but expressed confidence in its flexible platform and disciplined investment approach to sustain market share gains amid continued category contraction.
Key Takeaways
- • Market share gains in a contracting home goods category
- • U.S. net revenue grew 1.6% year over year against an estimated declining category
- • Average order value increased to $301 from $285 year over year
- • LTM net revenue per active customer increased 4.7% to $562
- • Significant reduction in equity-based compensation and SG&A expenses
- • Adjusted EBITDA margin expanded to 3.9% from 2.7% year over year
W YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
W Revenue by Segment
With YoY comparisons, source: SEC Filings
W Revenue by Geography
With YoY comparisons, source: SEC Filings
“Despite persistent category volatility which marked a fourth consecutive year beginning with contraction, we were able to once again outperform our peers and take healthy market share while driving meaningful improvements in profitability. Year-over-year growth excluding the impact of Germany came in nicely positive - driven by the US business up 1.6% against a category that we estimate declined over the same time frame. Tariffs are clearly top of mind for everyone - while there's a lot of uncertainty in the broader economy, we have direct line of sight and strong conviction on what we need to do for both our customers and our suppliers.”
— Niraj Shah, Q1 2025 Earnings Press Release
W Earnings Trends
W vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
W EPS Trend
Earnings per share: estimate vs actual
W Revenue Trend
Quarterly revenue: estimate vs actual
W Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.28 | $0.26 | -6.81% | $2.93B | +1.47% |
| Q4 25 BEAT FY | $0.69 | $0.85 | +23.89% | $3.34B | +1.17% |
| FY Full Year | $2.34 | $2.60 | +11.09% | $12.46B | +0.32% |
| Q3 25 BEAT | $0.44 | $0.70 | +59.31% | $3.12B | +3.46% |
| Q2 25 BEAT | $0.33 | $0.87 | +167.28% | $3.27B | +4.79% |
| Q1 25 BEAT | $-0.20 | $0.10 | +150.86% | $2.73B | +0.82% |