Q4 25 EPS
$0.85
BEAT +23.89%
Est. $0.69
Q4 25 Revenue
$3.34B
BEAT +1.17%
Est. $3.30B
vs S&P Since Q4 25
+7.9%
BEATING MARKET
W +16.0% vs S&P +8.2%
Full Year 2025 Results
FY 25 EPS
$2.60
BEAT +11.09%
Est. $2.34
FY 25 Revenue
$12.46B
BEAT +0.32%
Est. $12.42B
Market Reaction
Did W Beat Earnings? Q4 2025 Results
Wayfair closed out fiscal 2025 on a strong note, posting Q4 adjusted diluted EPS of $0.85 against a consensus estimate of $0.68, a beat of 25.00%, while revenue of $3.34 billion edged past the $3.30 billion estimate and grew 6.9% year over year. The … Read more Wayfair closed out fiscal 2025 on a strong note, posting Q4 adjusted diluted EPS of $0.85 against a consensus estimate of $0.68, a beat of 25.00%, while revenue of $3.34 billion edged past the $3.30 billion estimate and grew 6.9% year over year. The headline driver behind the profit swing was a dramatic expansion in Adjusted EBITDA, which surged to $224 million from just $96 million a year earlier, with the U.S. Segment alone more than doubling its segment profit to $234 million as disciplined cost management and sustained share gains in a contracting home-furnishings category flowed through to the bottom line. Net revenue per active customer climbed 5.6% to $586, and average order value rose to $301 from $290, underscoring that repeat-buyer momentum remained healthy even as total active customers dipped slightly to 21.3 million. On a GAAP basis, Wayfair still reported a net loss of $116 million, weighed down in part by a $165 million charge tied to debt extinguishment. Despite the stock dropping sharply following results, CEO Niraj Shah expressed confidence that organic share capture would compound growth and Adjusted EBITDA expansion for years ahead.
Key Takeaways
- • Third consecutive quarter of new customer growth
- • Healthy growth in repeat orders — repeat customers placed 79.1% of total orders
- • Average order value increased to $301 from $290 year over year
- • LTM net revenue per active customer grew 5.6% to $586
- • Share capture overwhelming macro category contraction in low single digits
- • Orders delivered increased 3.7% year over year to 11.1 million
- • Orders per customer increased to 1.88 from 1.85 year over year
W YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
W Revenue by Segment
With YoY comparisons, source: SEC Filings
W Revenue by Geography
With YoY comparisons, source: SEC Filings
“Q4 capped off a tremendous year for Wayfair, with revenue growing 7.8% year-over-year excluding the impact of Germany. We had our third consecutive quarter of new customer growth, on top of healthy growth in repeat orders, all in the face of a category that contracted in the low single digits for the final quarter of the year. 2025 was a year where we returned to growth and accelerated throughout the year through a number of organic business strategies that can compound for years to come. This was characterized by two important themes: our share capture overwhelming the drag of the macro, and the substantial flow through of that growth to the bottom line. We expect our topline growth and flow through to adjusted EBITDA to be the bedrock of our story for years to come.”
— Niraj Shah, Q4 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% |