Revenue beat consensus but the Street-tracked Adjusted EPS missed by ~7%, creating a mixed read-through. The return to active customer growth (+1.4% YoY) and 5.2% Adj. EBITDA margin (best Q1 in 5 years) are positive signals, but negative FCF and declining cash reserves warrant caution. Monitor the earnings call for any formal guidance on Q2 and full-year 2026.
Price Chart
Executive Summary
Wayfair reported Q1 2026 revenue of $2.93B (+7.4% YoY), a GAAP net loss of -$0.80/share, and Adjusted Diluted EPS of $0.26. Revenue beat the $2.89B consensus by 1.4%, while the Street-tracked Adjusted EPS of $0.26 was in line with the $0.28 consensus (a -7.1% miss). The company highlighted accelerating market share gains and a return to active customer growth (+1.4% YoY), but GAAP profitability remains negative and free cash flow was -$106M.
Key Financial Metrics
Key Facts
- Q1 2026 net revenue $2.93B, +7.4% YoY vs $2.73B
- GAAP diluted loss per share -$0.80 vs -$0.89 YoY
- Non-GAAP Adjusted Diluted EPS $0.26 vs $0.10 YoY
- Adjusted EBITDA $151M (5.2% margin) vs $106M (3.9% margin) YoY
- Active customers 21.4M, +1.4% YoY — first YoY growth in recent quarters
- Free cash flow -$106M vs -$139M YoY
- Cash & short-term investments $1.06B, down from $1.54B at Dec 2025
- Revenue beat $2.89B consensus by 1.4%; Adjusted EPS $0.26 vs $0.28 consensus (7.1% miss)
- No formal guidance provided in the release
Financial Impact
Revenue $2.93B vs consensus $2.89B; Adjusted EPS $0.26 vs consensus $0.28
Risk Factors
- Negative free cash flow of -$106M despite improving EBITDA
- Cash burn: cash & investments declined ~$480M from Dec 2025 to $1.06B
- No formal forward guidance provided, creating uncertainty
- International segment Adj. EBITDA turned negative (-$10M vs +$11M YoY)
- Gross margin contracted 70bps YoY to 30.0%
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001616707-26-000110 |
| Document: w-20260430.htm | 0001616707-26-000110 |
| Document: 0001616707-26-000110-index-headers.html | 0001616707-26-000110 |
| Document: 0001616707-26-000110-index.html | 0001616707-26-000110 |
| Document: 0001616707-26-000110.txt | 0001616707-26-000110 |
| 8-K Data (Synthetic) | 0001616707-26-000110 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 6w ago | Insider Cluster | $103.08 $104.79 | ▲ +1.66% | ▲ +3.18% | $101.25 (−1.78%) |
May 22, 2026 19w ago | 8-K | $67.04 $85.04 | ▲ +26.84% | ▲ +27.01% | $101.25 (+51.02%) |
May 13, 2026 20w ago | 8-K | $59.88 $77.68 | ▲ +29.72% | ▲ +30.33% | $101.25 (+69.08%) |
Apr 30, 2026 22w ago | 8-K | $63.88 $72.00 | ▲ +12.71% | ▲ +7.48% | $101.25 (+58.49%) |
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Mar 23, 2026 27w ago | Insider Cluster | $76.07 $79.67 | ▲ +4.73% | ▼ −2.69% | $101.25 (+33.10%) |
US Market Status
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