Overstock.com(OSTK)2024-07-29 20:51Financial Performance - Total net revenue was 43 million, with a diluted net loss per share of 36) million, representing (9.1)% of net revenue[2] - The company reported a net loss of 83,800 thousand for the same period in 2023[15] - Adjusted EBITDA for the three months ended June 30, 2024, was 8,234 thousand for the same period in 2023[24] - The company reported a free cash flow of 6,724 thousand for the same period in 2023[26] - Net cash used in operating activities was 18,772 thousand for the same period in 2023[26] Customer Metrics - Active customers grew to 6.2 million, representing a 35% year-over-year increase[2] - Active customers increased to 6,221 thousand in June 2024, up from 4,621 thousand in June 2023, representing a growth of approximately 34.6%[19] - Last twelve months (LTM) net revenue per active customer decreased to 361 in June 2023, a decline of approximately 31.6%[19] Orders and Revenue - Orders delivered reached 1.9 million, an increase of 8% year-over-year[2] - Total orders delivered increased to 1,949 thousand in June 2024, compared to 1,803 thousand in June 2023, reflecting a growth of about 8.1%[19] - Average order value decreased to 234 in June 2023, a decline of approximately 12.8%[19] Cash and Expenses - Cash and cash equivalents totaled (116,407) thousand for the three months ended June 30, 2024[15] - The company incurred stock-based compensation expenses of 12,065 thousand for the same period in 2023[15] Strategic Outlook - The company is on track to reduce fixed expenses by $45 million on an annualized basis, with significant progress made in the second quarter[1] - The company aims to leverage its brands and technology platforms for strategic partnerships and joint ventures to enhance capital returns[1] - Beyond, Inc. expects financial performance to improve throughout the remainder of the year[1]