Q3 2023 Earnings Call The information presented herein may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements include all statements other than statements of historical fact, including forecasts of trends, market conditions, the impact of our national marketing campaign, and other factors that will impact our results of operations. You should not place undue reliance on any forward-looking statements, which speak only as of the date they wer ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Or OVERSTOCK.COM, INC. (Exact name of registrant as specified in its charter) Delaware 87-0634302 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 799 West Coliseum Way Midvale Utah 84047 (Address of principal executive offices) (Zip Code) Securities registered pursuant to Section 12(b ...

Overstock.com, Inc. (OSTK) Q2 2023 Earnings Call Transcript July 27, 2023 8:30 AM ET Company Participants Lavesh Hemnani - Head of Investor Relations Jonathan Johnson - Chief Executive Officer Adrianne Lee - Chief Financial Officer Dave Nielsen - President Conference Call Participants Seth Sigmund - Barclays Thomas Forte - D. A. Davidson Curtis Nagle - BOFA Anna Andreeva - Needham and Company Operator Good day and thank you for standing by. Welcome to the Q2 2023 Overstock.com Earnings Conference Call. At t ...

Maturity of lease liabilities under our non-cancellable operating leases as of March 31, 2023, are as follows (in thousands): | --- | --- | |-----------------------------------------------------|------------------| | Payments due by period \n2023 (Remainder) | Amount \n 3,487 | | 2024 | 2,880 | | 2025 | 689 | | 2026 | 250 | | 2027 | 83 | | Thereafter | — | | Total lease payments | 7,389 | | Less interest | 535 | | Present value of lease liabilities | 6,854 | 8. COMMITMENTS AND CONTINGENCIES Legal proceeding ...

Overstock.com, Inc. (OSTK) Q1 2023 Earnings Conference Call April 27, 2023 8:30 AM ET Company Participants Lavesh Hemnani - Head of Investor Relations Jonathan Johnson - Chief Executive Officer Adrianne Lee - Chief Financial Officer Dave Nielsen - President Conference Call Participants Thomas Forte - D. A. Davidson Steven Forbes - Guggenheim Securities Seth Sigmund - Barclays Rick Patel - Raymond James Anna Andreeva - Needham and Company Curtis Nagle - BOFA Peter Keith - Piper Sandler Operator Good day and ...

Forward-Looking Statements 2 ▪ Disciplined and focused management team ▪ Total addressable market and online penetration growing ▪ Distributed supply chain with vast partner network 3 environmental sustainability human & employee rights Achieve parity in engagement rates among all employee demographic groups, which reflect the level of enthusiasm and dedication the employees feel towards their jobs. Support the needs of hundreds of homes every year through our nonprofit partners. 6 Support the needs of hund ...

54 Unearned Revenue When the timing of our provision of goods or services is different from the timing of the payments made by our customers, we recognize a contract liability (customer payment precedes performance). Customer orders are recorded as unearned revenue when payment is received prior to delivery of products or services ordered. We record amounts received for Club O membership fees as unearned revenue and we recognize it ratably over the membership period. We record Club O Reward dollars earned f ...

Financial Data and Key Metrics - Revenue declined by 34% year-over-year in Q4 2022, pressured by intense competition and the strategic removal of non-home products [39][40] - Gross profit decreased by $49 million YoY in Q4, with gross margin at 22.1%, a 54 basis point decline due to higher discounting and elevated freight costs [41] - Adjusted EBITDA was $7 million in Q4, a decrease of $21 million YoY, with a margin of 1.6% [42] - Active customers declined to 5.2 million at the end of Q4, with order frequency down 4% YoY [43][102] - Full-year 2022 revenue was $1.9 billion, a 30% decline YoY, but a 34% increase compared to 2019 [75] Business Line Performance - The company transitioned to a 100% home-only retailer, with home product assortment more than doubling since January 2021 [50][51] - Mobile app adoption grew rapidly, with mobile app sales increasing by 500 basis points in 2022 [121] - The company added over 4 million new on-trend SKUs from thousands of partners, with more than one-third of Q4 revenue driven by SKUs added in the last two years [24][53] Market Performance - The furniture and home furnishings market is fragmented, with a total addressable market of over $400 billion [56] - The company faced competitive pressure from increased and earlier discounting activity during Q4, particularly during the Cyber 5 period [27][40] - The company's Smart Value pricing strategy held up well during Q4, despite competitors relying on deep discounts to stimulate demand [27] Strategic Direction and Industry Competition - The company is focused on improving product findability, search processing, and customer experience to drive repeat purchases [25][87] - The company is leveraging its asset-light business model to maintain competitive pricing and gross margins [95][101] - The company is expanding its loyalty offerings, including a new co-branded Mastercard credit card in partnership with Citi Retail Services [54][120] Management Commentary on Operating Environment and Future Outlook - Management expects 2023 to be a tale of two halves, with performance improving in the second half due to new product assortments and loyalty initiatives [111][113] - The company anticipates continued inventory rationalization in the industry through at least the first half of 2023 [112] - Management remains committed to profitability for the year, despite potential fluctuations in consumer sentiment [84][116] Other Important Information - The company repurchased $80 million in shares in 2022 and made a $50 million direct investment in tZERO [30] - The company exited 2022 with $371 million in cash and $34 million in long-term debt, resulting in a net cash position of $337 million [59] - The company's Medici Ventures portfolio continues to present a differentiated value opportunity, with significant progress in blockchain investments [31][61] Q&A Session Summary Question: Impact of competitor markdowns on sales and pricing algorithm adjustments [92] - The company maintains its Smart Value proposition by removing non-competitive products from the site, which can be disruptive but ensures pricing integrity [93][125] Question: Gross margin trends and inventory rationalization [94][148] - The company expects gross margins to remain consistent due to its asset-light model, despite industry-wide inventory rationalization [95][148] Question: Comparison of current home e-commerce market to past periods [97] - The company has historically performed well during economic downturns, as consumers become more value-conscious [150][151] Question: Performance of Overstock Day events and new customer demographics [132] - Overstock Day events drove strong mobile app adoption and sales, with a focus on attracting a younger demographic [155] Question: Profitability in a scenario of declining sales [157] - The company is committed to profitability for the year, with a focus on expense management and cost savings [158][159] Question: Active customer base and reactivation strategy [162] - The company is focused on increasing brand association with home and leveraging its loyalty offerings to drive engagement and reactivation [163] Question: Expanding assortment in the home category [144] - The company is strategically adding national brands and giftable assortments, with a focus on improving product findability [178]

● overstock.. Making Dream Homes Come True Smart Value = Quality & Style for less Savvy Shoppers Reluctant Refreshers Overstock Customers Smart Value Seekers Home Goods Expertise Department Store Generalist Value Inspiration IKEA Bed Bath & Beyond Wayfair West Elm Pottery Barn Restoration Hardware Amazon Walmart Target 1 Cash less long-term debt. 1. FY 2022 vs. FY 2019 2. Overstock home-only revenue compared to (a) Census furniture and home furnishings sales, (b) Home-related personal consumption expenditur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ (Mark One) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000 ...