For the quarter ending 2026-03-31, W had -$472M decrease in cash & cash equivalents over the period. -$77M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Adjusted ebitda | 151 | 224 | 208 | 205 |
| Less reconciling items | 256 | 340 | 307 | 190 |
| Net loss | -105 | -116 | -99 | 15 |
| Depreciation and amortization | 67 | 71 | 75 | 78 |
| Equity-based compensation expense | 67 | 83 | 88 | 100 |
| Amortization of debt discount and issuance costs | 1 | 2 | 2 | 2 |
| Gain on lease modification | - | 15 | - | - |
| Impairment and other related net charges | 0 | 0 | 0 | 0 |
| Loss (gain) on debt extinguishment | -43 | -165 | -99 | 6 |
| Other non-cash adjustments | 9 | 15 | 11 | -20 |
| Accounts receivable, net | 26 | 4 | 16 | -33 |
| Inventories | 7 | 1 | -18 | -3 |
| Prepaid expenses and other assets | 20 | 7 | 3 | -21 |
| Accounts payable and other liabilities | -63 | 39 | 2 | 7 |
| Net cash used in operating activities | -52 | 202 | 155 | 273 |
| Purchase of short- and long-term investments | 5 | 39 | 21 | 37 |
| Sale and maturities of short- and long-term investments | 13 | 27 | 16 | 14 |
| Purchase of property and equipment | 25 | 25 | 27 | 13 |
| Site and software development costs | 29 | 32 | 35 | 30 |
| Other investing activities, net | - | 0 | - | - |
| Net cash used in investing activities | -46 | -69 | -67 | -66 |
| Proceeds from issuance of debt, net of issuance costs | 0 | 692 | 0 | 0 |
| Premiums paid for capped call confirmations | - | 0 | - | - |
| Payment of principal upon maturity of debt | - | 157 | - | - |
| Payments to extinguish debt | 99 | 375 | 198 | 191 |
| Settlement of long-term debt | 250 | - | - | - |
| Payments of taxes related to net share settlement of equity awards | 29 | 35 | 45 | 9 |
| Other financing activities, net | - | - | 0 | 0 |
| Unwind of capped calls | - | 49 | - | - |
| Net cash (used in) provided by financing activities | -378 | 174 | -243 | -200 |
| Effect of exchange rate changes on cash and cash equivalents | 4 | -2 | 0 | -19 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -472 | 305 | -155 | -12 |
| Beginning of period | 1,476 | - | - | - |
| End of period | 1,004 | - | - | - |
Wayfair Inc. (W)
Wayfair Inc. (W)