Financial Performance - Total net revenue for the three months ended September 30, 2024, was $311,428, a decrease of 16.6% compared to $373,313 for the same period in 2023[14]. - Gross profit for the nine months ended September 30, 2024, was $220,502, down 24.5% from $292,156 in the same period of 2023[14]. - Operating loss for the three months ended September 30, 2024, was $(43,553), compared to $(40,930) for the same period in 2023, reflecting a 6.5% increase in losses[14]. - Net loss for the nine months ended September 30, 2024, was $(177,536), compared to $(146,849) in the same period of 2023, indicating a 20.9% increase in losses[14]. - For the three months ended September 30, 2024, the net loss was $61,030 thousand, compared to a net loss of $63,049 thousand for the same period in 2023, representing a decrease of 3.2%[19]. - The company’s accumulated deficit increased to $(659,207) thousand at the end of the period from $(320,678) thousand at the end of September 30, 2023[19]. Assets and Liabilities - Total current assets decreased to $183,082 as of September 30, 2024, from $350,073 as of December 31, 2023, representing a decline of 47.5%[10]. - Total liabilities decreased to $232,145 as of September 30, 2024, from $276,686 as of December 31, 2023, a reduction of 16.1%[10]. - Cash and cash equivalents decreased to $140,371 as of September 30, 2024, from $302,605 as of December 31, 2023, a decline of 53.7%[10]. - Total stockholders' equity decreased to $196,193 as of September 30, 2024, from $359,132 as of December 31, 2023, a decrease of 45.4%[12]. - Total assets as of December 31, 2023, amounted to $298,451 thousand, with cash equivalents at $246,425 thousand and equity securities at fair value of $41,046 thousand[31]. Cash Flow and Investments - Net cash used in operating activities for the nine months ended September 30, 2024, was $(152,625) thousand, compared to $9,131 thousand for the same period in 2023[21]. - The company reported a $19.9 million decrease in other expense, net for the three months ended September 30, 2024, primarily due to a decrease in loss recognized from equity method securities[116]. - Investing activities resulted in a net cash outflow of $6.5 million for the nine months ended September 30, 2024, primarily due to $11.3 million in expenditures for property and equipment[129]. - Financing activities led to a net cash outflow of $2.1 million for the nine months ended September 30, 2024, mainly due to $3.3 million for payment of taxes withheld upon vesting of employee stock awards[130]. Stock and Compensation - Weighted average shares of common stock outstanding for the three months ended September 30, 2024, were 45,771, compared to 45,225 for the same period in 2023[14]. - The company granted 200,150 restricted stock awards with a cumulative grant date fair value of $6.8 million for the nine months ended September 30, 2024[62]. - Total stock-based compensation for the three months ended September 30, 2024, was $6,349,000, an increase from $5,798,000 in the same period in 2023[61]. - Stock-based compensation related to PSUs was $2.4 million and $5.7 million for the three and nine months ended September 30, 2024, respectively[66]. Strategic Initiatives - The company aims to expand its market presence through its various retail brands, including Overstock and Bed Bath & Beyond, leveraging its data cooperative model[23]. - The company plans to expand its global loyalty program, Beyond +, to enhance customer retention[83]. - A reduction-in-force affecting approximately 20% of the workforce was announced to streamline operations and reduce costs[80]. - The company entered into a collaboration agreement and a $40 million investment into The Container Store Group, Inc., involving the purchase of 40,000 shares of Series B Convertible Preferred Stock[76]. Legal and Regulatory Matters - Company involved in litigation concerning consumer protection, employment, privacy, and intellectual property, which could materially affect business operations and financial position[144]. - Potential significant damages and costs associated with ongoing legal proceedings could divert management's focus from business operations[144]. Market Conditions and Risks - The company continues to monitor inflationary pressures affecting commodity and shipping prices, energy, and labor costs, which could impact future operations[138]. - Most of the company's sales and operating expenses are denominated in U.S. dollars, minimizing current exposure to foreign currency risk[137]. - The company's Senior Note carries a fixed annual interest rate of 4.242%, indicating no material direct financial statement risk associated with changes in interest rates[136].

Q3 2024 Earnings Presentation October 24, 2024 Forward-Looking Statements The information presented herein may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements include without limitation all statements other than statements of historical fact, including forecasts of our growth, business strategy and results, future strategic ventures, expense reductions, shareholder value, and the timing of any of the foregoing. You should not place undue ...

Bed Bath & Beyond's owner said in a regulatory filing that it will cut one-fifth of its workforce.Beyond, Inc., formerly known as Overstock, bought the BB&B brand after the original went bankrupt.As an online-only retailer, the company says the cuts will support its "affinity and data monetization model." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! ...

Beyond (BYON) came out with a quarterly loss of $0.96 per share versus the Zacks Consensus Estimate of a loss of $0.84. This compares to loss of $0.61 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.29%. A quarter ago, it was expected that this online discount retailer would post a loss of $0.89 per share when it actually produced a loss of $0.76, delivering a surprise of 14.61%.Over the last four quarters, the company has ...

Beyond, Inc. Reports Third Quarter 2024 Financial Results — Transforming its Asset-Light Ecommerce Retail Business into an Ecommerce and Affinity Data Monetization Model with a Strong Technology Focus — MIDVALE, Utah - October 24, 2024 - Beyond, Inc. (NYSE:BYON), an asset-light ecommerce and affinity data monetization company offering a comprehensive array of products and services that enable its customers to unlock their home's potential, today reported financial results for the third quarter ended Septemb ...

NEW YORK, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Beyond, Inc. ("Beyond" or the "Company") (NYSE:BYON) on behalf of Beyond stockholders. Our investigation concerns whether Beyond has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. After the market closed on May 6, 2024, Beyond announced the company's first qua ...

RADNOR, Pa., Oct. 9, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Beyond, Inc. (NYSE: BYON) ("Beyond"). On May 6, 2024, after the market closed, Beyond announced the company's first quarter 2024 financial results and revealed first quarter total net revenue of $382 million, an increase of only 0.3% year-over-year, and a first quarter net loss of $74 million. Addi ...

On September 27, 2019, a purported securities class action lawsuit was filed against us and our former Chief Executive Officer and former Chief Financial Officer in the United States District Court of Utah, alleging violations under Section 10(b), Rule 10b-5, Section 20(a), and Section 20A of the Exchange Act. On October 8, 2019, October 17, 2019, October 31, 2019, and November 20, 2019, four similar lawsuits were filed in the same court also naming us and the above referenced former executives as defendant ...

Q2 2024 Earnings Call Forward-Looking Statements 1 Adjusted EBITDA is a non-GAAP financial measure. See reconciliation in appendix. 2 Adjusted Diluted EPS is a non-GAAP financial measure. Includes adjustment related to estimated tax impact from equity method activity. See reconciliation in appendix. Revenue Q2'24 Dynamics 5 Gross Margin Gross Margin ($M) (%) 23.1% 26.3% 25.2% 26.3%25.5% 22.2% 19.2% 19.5% 20.1% 0% 5% 10% 15% 20% 25% 30% $0 $25 $50 $75 $100 $125 $150 $175 $200 $225 $250 $275 Q2 '19 Q2 '20 Q2 ...

Financial Data and Key Metrics - Revenue declined 6% YoY in Q2 2024, but increased 4% sequentially, driven by an 18% improvement in average order value (AOV) [32] - Gross margin was 20.1% for the quarter, a 530 basis point decline YoY, but improved 70 basis points sequentially [56] - Adjusted EBITDA loss was $36 million, an $11 million improvement from Q1 2024 [17] - GAAP EPS was a loss of $0.93 per share, with an adjusted diluted loss per share of $0.76 [17] - Cash balance at the end of Q2 was $186 million [58] Business Line Performance - **Bed Bath & Beyond**: Growth in core categories like bedding, bath, and decor, with emerging strength in patio and outdoor furniture [10][11] - **Overstock**: First full quarter post-relaunch, with strong performance in area rugs, furniture, and patio furniture [12] - **Zulily**: Progress in onboarding legacy vendors and adding new vendors, with plans to launch a member login for evergreen assortments [13] Market Performance - Overstock's daily sales averaged around $300,000-$310,000 post-relaunch, with expectations for continued growth [82] - Bed Bath & Beyond saw an uptick in repeat customer sales, indicating improved customer retention [29] Strategic Direction and Industry Competition - Focus on profitability and maintaining an asset-light model [6] - Plans to expand Bed Bath & Beyond into a $1 billion+ e-commerce brand and explore IP monetization [6] - Overstock aims to dominate the North American liquidation and closeout market [24] - Development of a world-class loyalty program leveraging partnerships with non-competing companies [25] Management Commentary on Operating Environment and Future Outlook - Management expects Q3 revenue to align with historical trends of a 12%-14% decline from Q2, with sequential gross margin and EBITDA improvements [19][122] - Long-term goal is to achieve profitability by 2025, with a focus on margin improvement and customer file growth [48][63] Other Important Information - The company is finalizing agreements with a large-scale closeout and reverse logistics company [24] - Plans to launch Zulily in mid-September, with expected contributions in Q4 [82] - Efforts to monetize non-performing assets, including the sale of the headquarters building and active discussions with Medici fund companies [58] Q&A Session Summary Steven Forbes (Guggenheim Partners) - **Question**: Timeline for profitability and cash flow dynamics [63] - **Answer**: Expectation to achieve profitability by 2025, with a focus on margin improvement and customer file growth [63][64] Thomas Forte (Maxim Group) - **Question**: Capital allocation priorities and monetization of non-performing assets [68] - **Answer**: Focus on remaining asset-light, with plans to sell the headquarters building and increase communication with Medici fund companies [69][70] Seth Sigman (Barclays) - **Question**: Q2 performance and expectations for Q3 [49] - **Answer**: Q2 was a test period for demand sensitivity, with expectations for Q3 to outperform historical trends and improve margins [49][81] Rick Patel (Raymond James) - **Question**: Active customer growth and expectations for Q3 [112] - **Answer**: Most customer growth in Q2 came from Bed Bath & Beyond, with plans to reengage legacy customers and improve marketing efficiency [112][113] Curtis Nagel (BofA) - **Question**: Q3 trends and guidance mechanics [94] - **Answer**: Q3 is a transition quarter with a focus on calibration and preparation for Q4, with expectations to outperform historical trends [94][121] Marvin Fong (BTIG) - **Question**: Gross margin targets and patio furniture performance [99][131] - **Answer**: Gross margin target is mid-20s, with ongoing efforts to improve through vendor relationships and curation [100][127] Jonathan Matuszewski (Jefferies) - **Question**: Vendor strategy and physical presence aspirations [139][142] - **Answer**: Focus on narrowing the supplier base and exploring omnichannel opportunities without taking on physical assets [139][162]