US-based online furniture and home goods retailer Wayfair reported higher revenue and returned to operating profitability in 2025 despite a slight decline in active customers.
For the fourth quarter ended 31 December 2025, total net revenue increased 6.9% year-on-year (YoY) to $3.33bn, or 7.8% excluding the impact of the company’s exit from the German market.
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US net revenue rose 7.4% to $2.94bn while international net revenue was up 3.7% to $395m.
Gross profit for the quarter reached $1.01bn, equivalent to 30.3% of net revenue.
Wayfair recorded operating income of $84m, compared with an operating loss of $117m in the same period a year earlier.
Net loss narrowed to $116m from $128m in the same period last year while net cash from operating activities totalled $202m.
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By GlobalDataOn 31 December 2025, cash, cash equivalents and short-term investments stood at $1.50bn, with total liquidity of $1.90bn, including revolving credit capacity.
Active customers were 21.3 million, down 0.5% YoY, while LTM [last twelve months] net revenue per active customer rose 5.6% to $586.
Orders delivered increased 3.7% to 11.1 million.
Repeat customers accounted for 79.1% of orders. Average order value climbed to $301 from $290, and 64.9% of orders were placed via mobile devices.
For the full year, total net revenue grew 5.1% to $12.45bn, or 6.1% excluding the German market exit.
US net revenue rose 5.8% to $10.97bn while international net revenue edged up 0.4% to $1.48bn, or 0.2% on a constant-currency basis.
Gross profit for 2025 totalled $3.76bn, representing 30.2% of net revenue.
Wayfair reported operating income of $17m for the year, compared with an operating loss of $461m in 2024.
Net loss narrowed to $313m from $492m, while net cash provided by operating activities increased to $534m from $317m.
The results reflect revenue growth across both US and international segments and a move to operating profitability despite fewer active customers.
Wayfair CEO, co-founder and co-chairman Niraj Shah said: “2025 was a year where we returned to growth and accelerated throughout the year through a number of organic business strategies that can compound for years to come.
“This was characterised by two important themes: our share capture overwhelming the drag of the macro, and the substantial flow through of that growth to the bottom line.”
