Filing Flows › Wayfair (W) › Q2 2025
Wayfair (W) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 4, 2025
Wayfair (W) reported revenue of $3.3B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +20% from the quarter before. Operating margin was 0.5%, net earnings $15.0M (0.5% of revenue).
Wayfair, Q2 2025: revenue $3.3B (+5% year over year), operating margin 0.5%, net earnings $15.0M, operating cash flow $273M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.3B | +20% | +5% |
| Gross profit | $984M | +18% | +5% |
| Operating profit | $17.0M | — | — |
| Net earnings | $15.0M | — | — |
| Operating cash flow | $273M | — | +11% |
| Free cash flow | $230M | — | +26% |
What changed
Revenue was $3.3B in Q2 2025, up 5% year over year and up 20% from the previous quarter. U.S. was the largest line at 88% of revenue. U.S. added $0.14B year over year (up 5%), 92% of the total change.
Gross margin was 30.1%, down 0.1 points from a year earlier. Operating profit was $0.02B, a 0.5% margin (up 1.6 points year over year). Operating expenses fell 1% while revenue rose 5%. Net earnings were $0.01B. The effective tax rate was 11.8%.
Operating cash flow was $0.27B (up 11% year over year), 1820% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.10B of share-based compensation. Working capital and other items added $0.08B. After site and software development costs ($0.03B) and purchase of property and equipment ($0.01B), free cash flow as the company reports it was $0.23B.
Questions
What was Wayfair's revenue in the second quarter 2025?
Wayfair (W) reported revenue of $3.3B for the second quarter 2025 (Q2 2025), +5% from a year earlier and +20% from the quarter before.
Was Wayfair profitable in the second quarter 2025?
Operating profit was $17.0M (0.5% of revenue) and net earnings $15.0M.
Source: Wayfair 10-Q on SEC EDGAR.