Beyond's fourth-quarter net income fell 21.1%, and losses improved

It is learned that Beyond, the parent company of Bed Bath & Beyond and Overstock, recently announced its fourth quarter and full-year financial report for 2024. The report shows that Beyond's total net income in the fourth quarter was US$300 million, a year-on-year decrease of 21.1%.

Below is a summary of Beyond's fourth quarter financial results:

①Total net income was US$300 million, down 21.1% year-on-year.

②Gross profit was US$70 million, accounting for 23% of revenue.

③Net loss was US$81 million, compared with US$160 million in the same period last year.

④Adjusted EBITDA was US$28 million, accounting for 9.2% of revenue.

⑤Order delivery volume reached 1.7 million, a year-on-year decrease of 34%.

⑥The number of active customers reached 5.4 million, a year-on-year decrease of 4%.

Below is a summary of Beyond's full-year 2024 financial results:

①Total net revenue was US$1.4 billion, down 10.6% year-on-year.

②Gross profit was US$290 million, accounting for 20.8% of revenue.

③Net loss was US$260 million, compared with US$310 million in the same period last year.

④Adjusted EBITDA was US$140 million, accounting for 10.3% of revenue.

The financial report shows that the net loss in the fourth quarter was mainly affected by approximately $50 million in non-cash expenses (mainly from non-core business activities) and $6 million in non-recurring items. The adjusted EBITDA loss decreased by 43% year-on-year, thanks to a 380 basis point increase in gross profit margin.

Marcus Lemonis, executive chairman of Beyond, said the company has exceeded its previously set goals, including increasing profit margins, reducing fixed costs, improving website experience, and eliminating underperforming SKUs and suppliers. In the future, it will continue to make wise decisions to further consolidate the company's foundation and establish sustainable profitability.

Author ✎ Rayna/

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