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Beyond(BYON) - 2024 Q4 - Annual Results
BYONBeyond(BYON)2025-02-24 21:57

Financial Performance - Total net revenue for Q4 2024 was 303million,adecreaseof21.1303 million, a decrease of 21.1% year-over-year, with full year revenue at 1.4 billion, down 10.6% year-over-year[10]. - Net loss for Q4 2024 was 81million,representinga5081 million, representing a 50% improvement compared to the previous year, while the full year net loss was 259 million[4][10]. - Adjusted EBITDA loss for Q4 2024 was 28million,a4328 million, a 43% improvement year-over-year, with a gross margin expansion of 380 basis points[3][10]. - The net loss for the year ended December 31, 2024, was 258,795 thousand, a decrease from a net loss of 307,842thousandin2023,representinga15.9307,842 thousand in 2023, representing a 15.9% improvement[17]. - Free cash flow for the year ended December 31, 2024, was (188,619) thousand, compared to (37,767)thousandin2023,indicatingaworseningcashflowsituation[30].−AdjustedEBITDAfortheyearendedDecember31,2024,was(37,767) thousand in 2023, indicating a worsening cash flow situation[30]. - Adjusted EBITDA for the year ended December 31, 2024, was (143,984) thousand, compared to (61,293)thousandin2023,reflectingasignificantincreaseinoperationallosses[30].CustomerMetrics−Activecustomersdecreasedby4(61,293) thousand in 2023, reflecting a significant increase in operational losses[30]. Customer Metrics - Active customers decreased by 4% year-over-year to 5.4 million, while orders delivered fell by 34% to 1.7 million[10]. - Active customers decreased to 5,415 thousand in the three months ended December 31, 2024, down from 5,612 thousand in the same period of 2023, reflecting a decline of 3.5%[24]. - Last twelve months (LTM) net revenue per active customer fell to 258 in 2024 from 278in2023,adecreaseof7.2278 in 2023, a decrease of 7.2%[24]. - Orders delivered dropped to 1,675 thousand in the three months ended December 31, 2024, compared to 2,549 thousand in 2023, a decline of 34.3%[24]. - Average order value increased to 181 in 2024 from 151in2023,showingagrowthof19.9151 in 2023, showing a growth of 19.9%[24]. Cash and Liquidity - Cash, cash equivalents, and restricted cash totaled 186 million at the end of Q4 2024, down from 302millionattheendofQ42023[13].−Thecompanyendedtheyearwithahealthycashbalance,indicatingasolidfoundationforfutureoperations[3][10].−Thecompanyreportedanetdecreaseincash,cashequivalents,andrestrictedcashof302 million at the end of Q4 2023[13]. - The company ended the year with a healthy cash balance, indicating a solid foundation for future operations[3][10]. - The company reported a net decrease in cash, cash equivalents, and restricted cash of 116,656 thousand for the year ended December 31, 2024, compared to a decrease of 68,708thousandin2023[19].−Netcashusedinoperatingactivitiesincreasedsignificantlyto68,708 thousand in 2023[19]. - Net cash used in operating activities increased significantly to 174,304 thousand in 2024 from 18,586thousandin2023,indicatingasubstantialcashoutflow[17].−Thecompanyraised18,586 thousand in 2023, indicating a substantial cash outflow[17]. - The company raised 42,993 thousand from the sale of common stock in 2024, contributing to financing activities despite a net cash used in financing activities of 32,722thousand[19].OperationalEfficiency−OperatingexpensesinQ42024werereducedto32,722 thousand[19]. Operational Efficiency - Operating expenses in Q4 2024 were reduced to 112.6 million, down from $138.4 million in the same quarter last year[14]. - The company is focused on margin improvement and fixed cost reductions, aiming to build a profitable foundation[3]. - Beyond, Inc. is ramping up its Overstock brand and refining its SKU/vendor strategy to drive growth and profitability[4].