U.S. revenue growth accelerated to 11.4% with orders up 12%, indicating sustained market share gains in a roughly flat category. The International segment remains a drag with negative constant-currency growth. Watch for continued U.S. momentum and any update on International strategy on the earnings call.
Price Chart
Executive Summary
Wayfair reported Q3 2026 revenue of $3.42B, up 9.7% YoY, and GAAP net income of $62M (diluted EPS $0.45), a sharp improvement from a $99M loss in Q3 2025. U.S. revenue grew 11.4% YoY to $3.04B, while International revenue declined 2.3% to $380M. Adjusted EBITDA rose to $236M (6.9% margin) from $208M (6.7% margin) a year ago. The company generated $198M in operating cash flow and $136M in free cash flow. Active customers grew 4.7% YoY to 22.2M and orders delivered increased 12.2%.
Key Financial Metrics
Key Facts
- Q3 2026 total net revenue $3.42B, up 9.7% YoY from $3.12B
- U.S. net revenue $3.04B, up 11.4% YoY; International $380M, down 2.3% YoY
- GAAP net income $62M vs net loss of $99M in Q3 2025
- GAAP diluted EPS $0.45 vs loss per share of $0.76 in Q3 2025
- Non-GAAP Adjusted Diluted EPS $0.93 vs $0.70 in Q3 2025
- Adjusted EBITDA $236M (6.9% margin) vs $208M (6.7% margin) in Q3 2025
- Operating cash flow $198M; Free Cash Flow $136M
- Active customers 22.2M, up 4.7% YoY; orders delivered 11.0M, up 12.2% YoY
- Cash and short-term investments $1.1B; total liquidity $1.5B
- Long-term debt reduced to $2.57B from $3.23B at Dec 2025
Financial Impact
Revenue grew $303M YoY; net income swung positive by $161M; Adjusted EBITDA up $28M
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| U.S. | $3.0B | +11.4% |
| International | $380.0M | -2.3% |
Risk Factors
- International revenue declined 2.3% YoY and segment Adjusted EBITDA was negative $25M
- Gross margin contracted to 29.6% from 30.0% in Q3 2025
- Long-term debt remains elevated at $2.57B with $99M loss on debt extinguishment in Q3
- Forward-looking statements subject to macroeconomic risks including tariffs and consumer spending
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001616707-26-000195 |
| Document: w-20261104.htm | 0001616707-26-000195 |
| Document: 0001616707-26-000195-index-headers.html | 0001616707-26-000195 |
| Document: 0001616707-26-000195-index.html | 0001616707-26-000195 |
| Document: 0001616707-26-000195.txt | 0001616707-26-000195 |
| 8-K Data (Synthetic) | 0001616707-26-000195 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 5, 2026 today | SC 13G/A | $113.12 | awaiting T+60 | awaiting T+60 | $113.38 (+0.23%) |
Nov 5, 2026 today | 144 | $111.77 | awaiting T+60 | awaiting T+60 | $113.38 (+1.44%) |
Nov 4, 2026 1d ago | 144 | $123.56 | awaiting T+60 | awaiting T+60 | $113.38 (−8.24%) |
Nov 4, 2026 1d ago | 144 | $123.56 | awaiting T+60 | awaiting T+60 | $113.38 (−8.24%) |
Nov 4, 2026 1d ago | 144 | $123.56 | awaiting T+60 | awaiting T+60 | $113.38 (−8.24%) |
Nov 4, 2026 1d ago | 8-K | No price | awaiting T+60 | awaiting T+60 | No price |
Nov 4, 2026 1d ago | Press Release | $123.56 | awaiting T+60 | awaiting T+60 | $113.38 (−8.24%) |
Oct 29, 2026 7d ago | 144 | $120.12 | awaiting T+60 | awaiting T+60 | $113.38 (−5.61%) |
Oct 29, 2026 7d ago | Institutional Cluster | $120.12 | awaiting T+60 | awaiting T+60 | $113.38 (−5.61%) |
Oct 22, 2026 15d ago | Insider Cluster | $112.49 | awaiting T+60 | awaiting T+60 | $113.38 (−0.79%) |
US Market Status
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