Filing Flows › Wayfair (W) › Q4 2025
Wayfair (W) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Wayfair (W) reported revenue of $3.3B for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and +7% from the quarter before. Operating margin was 2.5%, net loss $116M (3.5% of revenue).
Wayfair, Q4 2025: revenue $3.3B (+7% year over year), operating margin 2.5%, net loss $116M, operating cash flow $202M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.3B | +7% | +7% |
| Operating profit | $84.0M | +121% | — |
| Net earnings | −$116M | — | — |
| Operating cash flow | $202M | +30% | +25% |
| Free cash flow | $145M | — | +42% |
What changed
Revenue was $3.3B in Q4 2025, up 7% year over year and up 7% from the previous quarter. U.S. was the largest line at 88% of revenue.
Gross margin was 30.3%, up 0.1 points from a year earlier. Operating profit was $0.08B, a 2.5% margin (up 6.3 points year over year). Operating expenses fell 12% while revenue rose 7%. The quarter ended with a net loss of $0.12B, wider than the previous quarter's $0.10B loss. Net interest and other expense of $0.20B was the main reason.
Operating cash flow was $0.20B (up 25% year over year). Non-cash charges added back $0.07B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items added $0.16B. After site and software development costs ($0.03B) and purchase of property and equipment ($0.03B), free cash flow as the company reports it was $0.14B.
Questions
What was Wayfair's revenue in the fourth quarter 2025?
Wayfair (W) reported revenue of $3.3B for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and +7% from the quarter before.
Was Wayfair profitable in the fourth quarter 2025?
Operating profit was $84.0M (2.5% of revenue) and net loss $116M.
Source: Wayfair 10-K on SEC EDGAR.