
Wayfair, one of the world’s largest online destinations for the home, has reported global financial results for its second quarter ended June 30, 2022.Total net revenue of $3.3 billion decreased $573 million, down 14.9% year over year• U.S. net revenue of $2.8 billion decreased $302 million, down 9.7% year over year• International net revenue of $0.5 billion decreased $271 million, down 35.7% year over year. International NetRevenue Constant Currency Growth was (34.4)%• Gross profit was $896 million or 27.3% of total net revenue• Net loss was $378 million and Non-GAAP Adjusted EBITDA was $(108) million• Diluted loss per share was $3.59• Non-GAAP Adjusted Diluted Loss per Share was $1.94• Net cash flows used in operating activities was $115 million and Non-GAAP Free Cash Flow was $(244) million• Cash, cash equivalents and short-term investments totaled $1.7 billion“During a difficult macroeconomic environment, we remain squarely focused on our customers and our suppliers, and onmaking sure Wayfair is their preferred platform for the Home. We are tightly controlling our many levers and steering Wayfairin a financially responsible manner through this period,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair.
