Wayfair Inc.

Listed Company

WCIK 0001616707NYSELarge AcceleratedRetail-Catalog & Mail-Order HousesFY ends Dec 31

Period

FY 2025

Revenue

$12.46B

Net Income

$-313.00M

Total Assets

$3.44B

Equity

$-2.78B

Shares Out

—

Op. Cash Flow

$534.00M

Business

Wayfair Inc. operates as an e-commerce and omnichannel retailer focused on home goods and furnishings. The company offers a wide assortment of products including furniture, décor, home textiles, and related accessories, alongside marketplace services that connect third‑party suppliers with customers and support services such as logistics and fulfillment. Its business is organized across online retail and marketplace operations, private‑label and branded product offerings, and physical retail initiatives. Wayfair distributes products primarily through its digital platforms and partner logistics networks to customers in the U.S. and international markets.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenue	12,457	11,851	12,003	12,218	13,708
Cost of goods sold	8,692	8,277	8,336	8,802	9,813
Gross profit	3,765	3,574	3,667	3,416	3,895
Customer service and merchant fees	471	470	557	632	584
Advertising	1,425	1,472	1,397	1,473	1,378
Selling, operations, technology, general and administrative	1,776	1,977	2,447	2,625	2,015
Impairment and other related net charges	23	37	14	39	12
Restructuring and other charges, net	53	79	65	—	—
Total operating expenses	3,748	4,035	4,480	4,800	3,989
Income (loss) from operations	17	−461	−813	−1,384	−94
Interest expense, net	−119	−29	−17	−27	−32
Other income (expense), net	31	−21	1	−4	−4
(Loss) gain on debt extinguishment, net	−233	29	100	96	0
Loss before income taxes	−304	−482	−729	−1,319	−130
Provision for income taxes, net	9	10	9	12	1
Net loss	−313	−492	−738	−1,331	−131
Basic (in dollars per share)	−2.44	−4.01	−6.47	−12.54	−1.26
Diluted (in dollars per shares)	−2.44	−4.01	−6.47	−12.54	−1.26
Basic (in shares)	128	123	114	106	104
Diluted (in shares)	128	123	114	106	104

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,476	1,316	1,322	1,050	1,706
Short-term investments	66	56	29	228	693
Accounts receivable, net	132	155	140	272	226
Inventories	71	76	75	90	69
Prepaid expenses and other current assets	256	274	289	293	318
Total current assets	2,001	1,877	1,855	1,933	3,012
Operating lease right-of-use assets	862	925	820	839	849
Property and equipment, net	516	603	748	774	674
Other non-current assets	61	54	51	34	35
Total assets	3,440	3,459	3,474	3,580	4,570
Accounts payable	1,202	1,246	1,234	1,204	1,166
Other current liabilities	927	1,124	949	868	1,051
Total current liabilities	2,129	2,370	2,183	2,072	2,217
Long-term debt	3,233	2,882	3,092	3,137	—
Operating lease liabilities, net of current	835	929	862	893	892
Other non-current liabilities	25	33	44	28	28
Total liabilities	6,222	6,214	6,181	6,130	6,189
Commitments and contingencies (Note 7)	—	—	—	—	—
Convertible preferred stock, $0.001 par value per share: 10,000,000 shares authorized and none issued at December 31, 2025 and December 31, 2024	0	0	0	0	0
Additional paid-in capital	2,073	1,751	1,316	737	337
Accumulated deficit	−4,823	−4,510	−4,018	−3,280	−1,949
Accumulated other comprehensive (loss) income	−32	4	−5	−7	−7
Total stockholders' deficit	−2,782	−2,755	−2,707	−2,550	−1,619
Total liabilities and stockholders' deficit	3,440	3,459	3,474	3,580	4,570

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	305	387	417	371	322
Equity-based compensation expense	335	395	605	513	344
Amortization of debt discount and issuance costs	9	9	8	8	7
Gain on lease modification	−15	0	0	—	—
Other non-cash adjustments	6	−1	−3	41	6
Accounts receivable, net	29	−35	132	−48	−118
Inventories	6	−2	16	−21	−17
Prepaid expenses and other assets	11	10	16	27	−28
Accounts payable and other liabilities	−95	38	−18	−177	13
Net cash provided by operating activities	534	317	349	−674	410
Purchase of short- and long-term investments	−115	−67	−36	−430	—
Sale and maturities of short- and long-term investments	101	39	233	889	749
Purchase of property and equipment	−70	−73	−148	−186	−101
Site and software development costs	−135	−161	−203	−272	−179
Other investing activities, net	0	0	2	0	5
Net cash used in investing activities	−219	−262	−152	1	−515
Proceeds from issuance of debt, net of issuance costs	1,383	786	678	678	0
Premiums paid for capped call confirmations	0	0	−87	−80	0
Payment of principal upon maturity of debt	−157	−117	0	−3	0
Payments to extinguish debt	−1,315	−741	−514	−504	0
Payments of taxes related to net share settlement of equity awards	−89	0	0	—	—
Unwind of capped calls	49	3	0	—	—
Net cash (used in) provided by financing activities	−129	−69	77	16	−303
Effect of exchange rate changes on cash and cash equivalents	−30	8	2	1	−16
Net increase (decrease) in cash, cash equivalents and restricted cash	156	−6	276	−656	−424
Cash paid for interest on long-term debt	139	63	53	27	27
Purchase of property and equipment included in accounts payable and other liabilities	10	7	19	−6	41

Filings

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