Filing Flows › Wayfair (W) › Q1 2025
Wayfair (W) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Wayfair (W) reported revenue of $2.7B for the first quarter 2025 (Q1 2025), 0% from a year earlier and -13% from the quarter before. Operating margin was -4.5%, net loss $113M (4.1% of revenue).
Wayfair, Q1 2025: revenue $2.7B (0% year over year), operating margin -4.5%, net loss $113M, operating cash flow −$96.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.7B | -13% | 0% |
| Operating profit | −$122M | — | — |
| Net earnings | −$113M | — | — |
| Operating cash flow | −$96.0M | — | — |
What changed
Revenue was $2.7B in Q1 2025, roughly flat year over year and down 13% from the previous quarter. U.S. was the largest line at 89% of revenue. U.S. added $0.04B year over year (up 2%), 3800% of the total change. International declined 11%.
Gross margin was 30.7%, up 0.6 points from a year earlier. Operating costs exceeded revenue by $0.12B, an operating margin of -4.5%. Operating expenses fell 9% while revenue was flat. The quarter ended with a net loss of $0.11B, narrower than the previous quarter's $0.13B loss.
Operating cash flow was −$0.10B. Non-cash charges added back $0.08B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.13B. Capital expenditures of $0.01B exceeded it, leaving free cash flow of −$0.10B.
Questions
What was Wayfair's revenue in the first quarter 2025?
Wayfair (W) reported revenue of $2.7B for the first quarter 2025 (Q1 2025), 0% from a year earlier and -13% from the quarter before.
Was Wayfair profitable in the first quarter 2025?
Operating loss was $122M (-4.5% of revenue) and net loss $113M.
Source: Wayfair 10-Q on SEC EDGAR.