by Growth in US revenues offsets decline in international revenues
BOSTON — Driven by sales increases in the U.S. market, Wayfair reported a slight increase in revenues for the fourth quarter ended Dec. 31, while also reducing its net loss.
The company said net revenues totaled $3.1 billion, up $7 million or .2% from the same period a year earlier. Meanwhile, its net loss decreased to $128 million, or $1.02 per share, compared with $174 million, or $1.49 per share, the same period the year prior.
It also reported a gross profit of $941 million, down slightly from $944 million a year earlier.
U.S. revenues for the quarter totaled $2.7 billion, up by $30 million or 1.1% from the prior year, while international revenues totaled $381 million, down $23 million, or 5.7% compared to the same period last year.
For the full year, revenues totaled $11.9 billion, down 1.3% from $12 billion the year before. Its net loss was $492 million, or $4.01 per share, down from $738 million, or $6.47 per share, a year earlier. Its gross profit for the year was $3.6 billion or 30.2% of revenues, compared with $3.7 billion, or 30.6% of net revenues, the year before.
U.S. revenues for the full year totaled $10.4 billion, down $109 million or 1% year over year, while international revenues totaled $1.5 billion, down $43 million, or 2.8% from the prior year.
“The fourth quarter was a strong conclusion to the year across multiple fronts,” said Niraj Shah, chief executive officer, co-founder and co-chairman of Wayfair. “From a top-line performance perspective, we ended 2024 on a high note — with net revenue showing positive year-over-year growth. These results enabled us to drive nearly $100 million of adjusted EBITDA in the quarter and deliver on our goal of approximately 50% year-over-year dollar growth for 2024.
“Our strong financial performance enabled us to tap into the high-yield markets for the first time, putting us in the strongest balance sheet position in many years,” he added. “We’re making smart, high-return investments across the business, and at the same time remain committed to growing adjusted EBITDA dollars year over year. We are confident this approach sets us up well for a compelling payoff over 2025 and are excited to bring all of our stakeholders with us on this next leg of the Wayfair journey.”
Other quarterly highlights were as follows:
+ The company reported 21.4 million active customers as of Dec. 31, 2024, down 4.5% year over year.
+ Last 12 months net revenue per active customer was $555 as of Dec. 31, 2024, up 3.4% year over year.
+ Orders per customer, measured as LTM orders divided by active customers, was 1.85 for the fourth quarter of 2024, compared to 1.84 for the fourth quarter of 2023.
+ Orders delivered in the fourth quarter of 2024 were 10.7 million, down 5.3% year over year.
+ Repeat customers placed 79.4% of total orders delivered in both of the fourth quarters of 2024 and 2023.
+ Repeat customers placed 8.5 million orders in the fourth quarter of 2024, down 5.6% year over year.
+ The average order value was $290 in the fourth quarter of 2024, compared to $276 in the fourth quarter of 2023.
+ 64.5% of total orders delivered were placed via a mobile device in the fourth quarter of 2024, compared to 62.8% in the fourth quarter of 2023.
