Exhibit 99.1

 

Wayfair Announces Fourth Quarter and Full Year 2014 Results

 

Q4 Direct Retail Revenue Growth of 55.2% Year over Year to $346.7 million

Full Year Direct Retail Revenue Growth of 63.6% Year over Year to $1.1billion

Total Revenue Growth of 44.0% Year over Year to $1.3 billion

3.2 Million Active Customers, up 53.8% Year over Year

 

BOSTON, MA — March 4, 2015 —

Wayfair Inc. (NYSE:W), one of the world’s largest online destinations for home furnishings and décor, today reported financial results for its fourth quarter and full fiscal year ended December 31, 2014.

 

Fourth Quarter 2014 Financial Highlights

 

·                  Net revenue increased to $408.6 million, up 38.4% year over year

·                  Direct Retail revenue, consisting of sales generated primarily through the sites of Wayfair’s five brands, increased to $346.7 million, up 55.2 % year over year

·                  Gross profit was $98.4 million or 24.1% of revenue, compared to 23.9% of revenue in the same quarter last year

·                  Adjusted EBITDA was $(7.2) million

·                  GAAP basic and diluted net loss per share was $0.73

·                  Non GAAP diluted net loss per share was $0.18

·                  Non GAAP free cash flow was $50.8 million

·                  At the end of the Fourth Quarter, cash, cash equivalents, and short-term investments totaled $415.9 million

 

Full Year 2014 Financial Highlights

 

·                  Net revenue increased to $1.3 billion, up 44.0% year over year

·                  Direct Retail revenue increased to $1.1 billion, up 63.6% year over year

·                  Adjusted EBITDA was $(62.5) million

·                  Non GAAP diluted net loss per share was $1.02 for the year

·                  Non GAAP free cash flow for the year was $(41.9) million

 

“We’re very pleased with the fourth quarter and full year results and the company’s continued strong growth,” said Niraj Shah, co-founder, CEO and co-chairman of Wayfair. “We are particularly excited about the success of our holiday merchandising efforts and our ongoing customer growth. We remain committed to both building the market leading online home brands and to delivering long term value for investors.”

 

Other Highlights

 

·                  The number of active customers in our Direct Retail business reached 3.2 million as of December 31, 2014, up 53.8% year over year

·                  Aided brand awareness reached 55% in December 2014, up from 36% in December of 2013

·                  LTM Net revenue per active customer increased to $342, up 6.2% year over year

·                  Orders per customer, measured as LTM orders divided by active customers, increased to 1.63 for the Fourth Quarter, up from 1.58 year over year

·                  Repeat customers placed 50.3% of total orders in the Fourth Quarter of 2014, compared to 46.8% in the Fourth Quarter of 2013

·                  Orders delivered in the Fourth Quarter of 2014 were 1.7 million, a 45.1% increase year over year

·                  Total orders delivered in 2014 increased to 5.2 million, up from 3.3 million in 2013

·                  Average order value was $204 for the Fourth Quarter 2014, up from $191 year over year

 


The following information was filed by Wayfair Inc. (W) on Wednesday, March 4, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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