Filing Flows › Wayfair (W) › Q3 2025
Wayfair (W) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Wayfair (W) reported revenue of $3.1B for the third quarter 2025 (Q3 2025), +8% from a year earlier and -5% from the quarter before. Operating margin was 1.2%, net loss $99.0M (3.2% of revenue).
Wayfair, Q3 2025: revenue $3.1B (+8% year over year), operating margin 1.2%, net loss $99.0M, operating cash flow $155M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.1B | -5% | +8% |
| Operating profit | $38.0M | +124% | — |
| Net earnings | −$99.0M | -760% | — |
| Operating cash flow | $155M | -43% | +216% |
| Free cash flow | $93.0M | — | — |
What changed
Revenue was $3.1B in Q3 2025, up 8% year over year and down 5% from the previous quarter. U.S. was the largest line at 88% of revenue. U.S. added $0.22B year over year (up 9%), 93% of the total change.
Gross margin was 30.0%, down 0.3 points from a year earlier. Operating profit was $0.04B, a 1.2% margin (up 3.8 points year over year). Operating expenses fell 5% while revenue rose 8%. The quarter ended with a net loss of $0.10B, after a profit of $0.01B the previous quarter. Net interest and other expense of $0.14B was the main reason.
Operating cash flow was $0.15B (up 216% year over year). Non-cash charges added back $0.07B of depreciation and amortization and $0.09B of share-based compensation. Working capital and other items added $0.09B. After site and software development costs ($0.04B) and purchase of property and equipment ($0.03B), free cash flow as the company reports it was $0.09B.
Questions
What was Wayfair's revenue in the third quarter 2025?
Wayfair (W) reported revenue of $3.1B for the third quarter 2025 (Q3 2025), +8% from a year earlier and -5% from the quarter before.
Was Wayfair profitable in the third quarter 2025?
Operating profit was $38.0M (1.2% of revenue) and net loss $99.0M.
Source: Wayfair 10-Q on SEC EDGAR.