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Summary of Beyond, Inc. (NYSE:BYON) 2024 Investor Event Company Overview - **Company**: Beyond, Inc. (NYSE:BYON) - **Event Date**: October 24, 2024 - **Participants**: Executive Chairman Marcus Lemonis, VP of Investor Relations Alexis Callahan, Chief Financial Officer Adrianne Lee, President Dave Nielsen, and other executives Key Points Industry Context - The company is focused on the e-commerce retail sector, particularly in home goods and furniture, following the merger of Bed Bath & Beyond and Overstock, which has created challenges in product assortment and consumer expectations [2][9][10]. Financial Performance - **Revenue**: Year-over-year revenue decline attributed to a strategic decision to prioritize profitability over sales volume [7][8]. - **Gross Margin**: Reported at 21.2%, a 110 basis point improvement from Q2 2024, with a year-over-year increase of 50 basis points due to reduced promotional discounting [7][11]. - **SG&A Expenses**: Totaled $45 million for the quarter, with expectations to reduce this to the low $40 million range moving forward [8][12]. - **Adjusted EBITDA**: Loss of $32 million, an improvement from a loss of $36 million in Q2 2024, indicating progress in cost management [8][14]. Strategic Focus - The management team identified three core issues affecting performance: conversion rates, gross margin, and SG&A expenses [6][14]. - Emphasis on improving conversion rates, which have dropped to approximately 1.3% from historical levels of 1.7% to 1.8% [10][41]. - Plans to enhance product assortment and marketing strategies to better align with consumer expectations and improve sales performance [17][22]. Market Positioning - The merger has led to confusion among consumers regarding product offerings, resulting in high cart abandonment rates [17][20]. - The company aims to restore Overstock's historical product mix, which included a broader range of categories beyond home goods, to attract more traffic and improve conversion rates [62][63]. Future Outlook - Management anticipates sequential improvements in revenue, margin, and adjusted EBITDA in Q4 2024 compared to Q3 2024, driven by better conversion and margin management [52]. - The company is exploring partnerships and potential acquisitions (e.g., Container Store, Kirkland's) to enhance its omnichannel presence and improve vendor negotiations [36][60]. Risks and Challenges - The company acknowledges macroeconomic challenges, including high interest rates and inflation, but believes that internal business issues are more pressing [2][4]. - Concerns about cash flow management and the need for ongoing cost reductions were highlighted, especially following workforce reductions [56][59]. Additional Insights - The management team is focused on a long-term vision of profitability and market share recovery, with a commitment to improving operational efficiency and customer experience [51][52]. - The transition of SKUs between Bed Bath & Beyond and Overstock is being managed carefully to avoid significant sales disruptions [45][47]. This summary encapsulates the key discussions and insights from the investor event, highlighting the company's current challenges, strategic initiatives, and future outlook in the competitive e-commerce landscape.

Financial Performance - Total net revenue for the three months ended September 30, 2024, was $311,428, a decrease of 16.6% compared to $373,313 for the same period in 2023[14]. - Gross profit for the nine months ended September 30, 2024, was $220,502, down 24.5% from $292,156 in the same period of 2023[14]. - Operating loss for the three months ended September 30, 2024, was $(43,553), compared to $(40,930) for the same period in 2023, reflecting a 6.5% increase in losses[14]. - Net loss for the nine months ended September 30, 2024, was $(177,536), compared to $(146,849) in the same period of 2023, indicating a 20.9% increase in losses[14]. - For the three months ended September 30, 2024, the net loss was $61,030 thousand, compared to a net loss of $63,049 thousand for the same period in 2023, representing a decrease of 3.2%[19]. - The company’s accumulated deficit increased to $(659,207) thousand at the end of the period from $(320,678) thousand at the end of September 30, 2023[19]. Assets and Liabilities - Total current assets decreased to $183,082 as of September 30, 2024, from $350,073 as of December 31, 2023, representing a decline of 47.5%[10]. - Total liabilities decreased to $232,145 as of September 30, 2024, from $276,686 as of December 31, 2023, a reduction of 16.1%[10]. - Cash and cash equivalents decreased to $140,371 as of September 30, 2024, from $302,605 as of December 31, 2023, a decline of 53.7%[10]. - Total stockholders' equity decreased to $196,193 as of September 30, 2024, from $359,132 as of December 31, 2023, a decrease of 45.4%[12]. - Total assets as of December 31, 2023, amounted to $298,451 thousand, with cash equivalents at $246,425 thousand and equity securities at fair value of $41,046 thousand[31]. Cash Flow and Investments - Net cash used in operating activities for the nine months ended September 30, 2024, was $(152,625) thousand, compared to $9,131 thousand for the same period in 2023[21]. - The company reported a $19.9 million decrease in other expense, net for the three months ended September 30, 2024, primarily due to a decrease in loss recognized from equity method securities[116]. - Investing activities resulted in a net cash outflow of $6.5 million for the nine months ended September 30, 2024, primarily due to $11.3 million in expenditures for property and equipment[129]. - Financing activities led to a net cash outflow of $2.1 million for the nine months ended September 30, 2024, mainly due to $3.3 million for payment of taxes withheld upon vesting of employee stock awards[130]. Stock and Compensation - Weighted average shares of common stock outstanding for the three months ended September 30, 2024, were 45,771, compared to 45,225 for the same period in 2023[14]. - The company granted 200,150 restricted stock awards with a cumulative grant date fair value of $6.8 million for the nine months ended September 30, 2024[62]. - Total stock-based compensation for the three months ended September 30, 2024, was $6,349,000, an increase from $5,798,000 in the same period in 2023[61]. - Stock-based compensation related to PSUs was $2.4 million and $5.7 million for the three and nine months ended September 30, 2024, respectively[66]. Strategic Initiatives - The company aims to expand its market presence through its various retail brands, including Overstock and Bed Bath & Beyond, leveraging its data cooperative model[23]. - The company plans to expand its global loyalty program, Beyond +, to enhance customer retention[83]. - A reduction-in-force affecting approximately 20% of the workforce was announced to streamline operations and reduce costs[80]. - The company entered into a collaboration agreement and a $40 million investment into The Container Store Group, Inc., involving the purchase of 40,000 shares of Series B Convertible Preferred Stock[76]. Legal and Regulatory Matters - Company involved in litigation concerning consumer protection, employment, privacy, and intellectual property, which could materially affect business operations and financial position[144]. - Potential significant damages and costs associated with ongoing legal proceedings could divert management's focus from business operations[144]. Market Conditions and Risks - The company continues to monitor inflationary pressures affecting commodity and shipping prices, energy, and labor costs, which could impact future operations[138]. - Most of the company's sales and operating expenses are denominated in U.S. dollars, minimizing current exposure to foreign currency risk[137]. - The company's Senior Note carries a fixed annual interest rate of 4.242%, indicating no material direct financial statement risk associated with changes in interest rates[136].

Q3 2024 Earnings Presentation October 24, 2024 Forward-Looking Statements The information presented herein may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements include without limitation all statements other than statements of historical fact, including forecasts of our growth, business strategy and results, future strategic ventures, expense reductions, shareholder value, and the timing of any of the foregoing. You should not place undue ...

Bed Bath & Beyond's owner said in a regulatory filing that it will cut one-fifth of its workforce.Beyond, Inc., formerly known as Overstock, bought the BB&B brand after the original went bankrupt.As an online-only retailer, the company says the cuts will support its "affinity and data monetization model." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! ...

Beyond (BYON) came out with a quarterly loss of $0.96 per share versus the Zacks Consensus Estimate of a loss of $0.84. This compares to loss of $0.61 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.29%. A quarter ago, it was expected that this online discount retailer would post a loss of $0.89 per share when it actually produced a loss of $0.76, delivering a surprise of 14.61%.Over the last four quarters, the company has ...

Beyond, Inc. Reports Third Quarter 2024 Financial Results — Transforming its Asset-Light Ecommerce Retail Business into an Ecommerce and Affinity Data Monetization Model with a Strong Technology Focus — MIDVALE, Utah - October 24, 2024 - Beyond, Inc. (NYSE:BYON), an asset-light ecommerce and affinity data monetization company offering a comprehensive array of products and services that enable its customers to unlock their home's potential, today reported financial results for the third quarter ended Septemb ...

NEW YORK, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Beyond, Inc. ("Beyond" or the "Company") (NYSE:BYON) on behalf of Beyond stockholders. Our investigation concerns whether Beyond has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. After the market closed on May 6, 2024, Beyond announced the company's first qua ...

RADNOR, Pa., Oct. 9, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Beyond, Inc. (NYSE: BYON) ("Beyond"). On May 6, 2024, after the market closed, Beyond announced the company's first quarter 2024 financial results and revealed first quarter total net revenue of $382 million, an increase of only 0.3% year-over-year, and a first quarter net loss of $74 million. Addi ...

On September 27, 2019, a purported securities class action lawsuit was filed against us and our former Chief Executive Officer and former Chief Financial Officer in the United States District Court of Utah, alleging violations under Section 10(b), Rule 10b-5, Section 20(a), and Section 20A of the Exchange Act. On October 8, 2019, October 17, 2019, October 31, 2019, and November 20, 2019, four similar lawsuits were filed in the same court also naming us and the above referenced former executives as defendant ...