Beyond (BYON) came out with a quarterly loss of $1.22 per share versus the Zacks Consensus Estimate of a loss of $0.71. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -71.83%. A quarter ago, it was expected that this online discount retailer would post a loss of $0.69 per share when it actually produced a loss of $0.61, delivering a surprise of 11.59%.Over the last four quarters, the company has ...

MIDVALE, Utah, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Beyond, Inc. (NYSE:BYON), owner of Overstock, Bed Bath & Beyond, and other online retail brands designed to unlock your home's potential, today reported financial results for the quarter and full year ended December 31, 2023. "Over the last 75 days into my tenure, we have made substantial progress laying the foundation for a high growth, differentiated business model with high customer affinity," said Marcus Lemonis, Executive Chairman of the Board. "Active c ...

Beyond (NYSE:BYON) stock is in the news Tuesday as the Bed Bath & Beyond and Overstock.com operator announces changes to its leadership team.The first major change announced by Beyond is the addition of Chandra Holt to its Bed Bath & Beyond team. This will have her serve as the CEO of that business.Adding to that is Dave Nielsen joining the ranks of the Overstock executive team. Just like with Holt at Bed Bath & Beyond, Nielsen is taking over as the CEO of this division.The final executive change announced ...

Beyond Inc. on Tuesday named the former chief executive of HomePlus to lead its Bed, Bath & Beyond business, while promoting an executive to lead its Overstock unit.Chandra Holt has joined Beyond Inc. BYON, -0.88% as Chief Executive of Bed Bath & Beyond after she was Chief Executive since 2021 of the Conn’s Inc. CONN, HomePlus unit, which has more than 180 stores in 15 states. She’s also worked in executive positions at Walmart Inc. WMT, +0.63% and Target Corp. TGT, +2.26%. Bed, Bath & Beyond went bankrupt ...

MIDVALE, Utah, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Beyond, Inc. (NYSE:BYON), owner of Bed Bath & Beyond, Overstock, and other online retail brands designed to unlock your home's potential, today announced significant changes to its executive team. The Executive Chairman and Board of Directors approved the following changes, effective today: Chandra Holt is joining the company as Chief Executive Officer, Bed Bath & BeyondDave Nielsen has been appointed to Chief Executive Officer, OverstockAdrianne Lee, Chief F ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Beyond (BYON) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 20, 2024, might help the stock move higher if these key numbers are better than expect ...

MIDVALE, Utah, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Beyond, Inc., (NYSE:BYON) ("Beyond" or the "Company"), the parent company of online furniture and home furnishings retailer Bed Bath & Beyond, is scheduled to release fourth quarter and full year financial results for the period ended December 31, 2023, on Tuesday, February 20, 2024, after the market closes. The company has scheduled a conference call and webcast on Wednesday, February 21, 2024, at 8:30am ET to discuss these results and take questions from pa ...

[PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited consolidated financial statements for Q3 2023 reveal a significant year-over-year decline in performance, with a wider net loss and reduced assets [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Total assets decreased to $770.8 million by September 30, 2023, primarily due to reduced cash and equity securities, while liabilities slightly increased Consolidated Balance Sheet Highlights (in thousands of USD) | Account | September 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $375,729 | $414,509 | | **Total Assets** | $770,784 | $878,546 | | **Total Current Liabilities** | $209,391 | $191,142 | | **Total Liabilities** | $254,600 | $232,720 | | **Total Stockholders' Equity** | $516,184 | $645,826 | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) Q3 2023 net revenue decreased 18.9% to $373.3 million, resulting in an operating loss of $40.9 million and a widened net loss of $63.0 million Q3 2023 vs Q3 2022 Statement of Operations (in thousands of USD, except per share data) | Metric | Q3 2023 | Q3 2022 | | :--- | :--- | :--- | | Net Revenue | $373,313 | $460,279 | | Gross Profit | $69,960 | $107,472 | | Operating Income (Loss) | $(40,930) | $5,659 | | Net Loss | $(63,049) | $(36,995) | | Diluted Net Loss Per Share | $(1.39) | $(0.81) | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations decreased to $9.1 million for the nine months ended September 30, 2023, with significant cash used in investing activities Cash Flow Summary for Nine Months Ended Sep 30 (in thousands of USD) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $9,131 | $17,596 | | Net cash used in investing activities | $(51,759) | $(28,004) | | Net cash used in financing activities | $(3,356) | $(65,224) | | **Net decrease in cash** | **$(45,984)** | **$(75,632)** | [Notes to Unaudited Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Notes detail significant accounting policies, including the $25.6 million Bed Bath & Beyond IP acquisition, increased equity method losses, and ongoing SEC inquiry - On June 12, 2023, the company entered an agreement to acquire certain intellectual property from Bed Bath & Beyond Inc. for a total purchase price of **$25.6 million**, allocated to trade names (**$21.8 million**) and customer lists (**$3.8 million**)[65](index=65&type=chunk) - The company is cooperating with an SEC inquiry that began in October 2019 related to its Series A-1 Preferred stock dividend, 10b5-1 plans, and 2019 retail guidance[114](index=114&type=chunk) - As of September 30, 2023, the company had **$19.9 million** available for future share repurchases under its current authorization, with no shares repurchased during the third quarter[118](index=118&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the 18.9% Q3 revenue decline to lower average order value, with gross margin compression and increased operating expenses [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Q3 2023 revenue declined 18.9% to $373.3 million, with gross margin compression and increased operating expenses, notably from equity method losses Key Performance Metrics (Q3 2023 vs Q3 2022) | Metric | Q3 2023 | Q3 2022 | | :--- | :--- | :--- | | Net Revenue Change | (18.9)% | - | | Gross Margin | 18.7% | 23.3% | | Sales & Marketing (% of Revenue) | 15.4% | 11.6% | | Technology (% of Revenue) | 7.8% | 6.4% | | G&A (% of Revenue) | 6.5% | 4.1% | - The decrease in Q3 revenue was primarily due to a **21% decrease in average order value**, partially offset by a **3% increase in orders** delivered following the Bed Bath & Beyond brand launch[154](index=154&type=chunk)[150](index=150&type=chunk) - The increase in Other expense for the nine months ended Sep 30, 2023 was primarily due to a **$77.7 million increase in loss recognized from equity method securities**[143](index=143&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity, primarily $325.4 million in cash, is deemed sufficient for the next twelve months despite significant investing outflows - At September 30, 2023, the company had **$325.4 million** of cash and cash equivalents[195](index=195&type=chunk)[109](index=109&type=chunk) - For the nine months ended September 30, 2023, investing activities resulted in a net cash outflow of **$51.8 million**, primarily due to **$25.8 million** for purchases of intangible assets and **$10.0 million** for a note receivable[175](index=175&type=chunk) Contractual Obligations as of September 30, 2023 (in thousands of USD) | Obligation | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years | | :--- | :--- | :--- | :--- | :--- | :--- | | Operating leases | $5,039 | $3,288 | $1,605 | $146 | $— | | Loan agreements | $45,383 | $2,723 | $2,968 | $2,972 | $36,720 | | **Total** | **$50,422** | **$6,011** | **$4,573** | **$3,118** | **$36,720** | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risks include inflation and volatility from **$169.3 million** in equity and debt securities, especially Level 3 private company investments - The company has no direct financial statement risk associated with changes in interest rates as its loan agreements carry a **fixed blended annual rate of 4.45%**[205](index=205&type=chunk) - The company faces investment risk from its **$169.3 million** in equity securities, of which **$41.1 million** in equity and **$10.4 million** in debt are in private companies recorded at fair value using Level 3 inputs[208](index=208&type=chunk) - Inflationary pressures across the business are being monitored, and the company is working with partners to limit passing cost increases to customers[207](index=207&type=chunk) [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal controls over financial reporting - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[229](index=229&type=chunk) - No changes occurred during the quarter ended September 30, 2023, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[230](index=230&type=chunk) [PART II. OTHER INFORMATION](index=34&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 9 for details on ongoing legal proceedings, including consumer, employment, IP, and securities litigations - For details on legal proceedings, the report refers to Note 9—Commitments and Contingencies in the Notes to Unaudited Consolidated Financial Statements[188](index=188&type=chunk) [Item 1A. Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) Key risks include challenges from re-branding and Bed Bath & Beyond integration, potential losses from **$169.3 million** in equity investments, and deferred tax asset valuation - The company identifies risks with its re-branding and integration of Bed Bath & Beyond assets, such as brand confusion, unexpected costs, loss of customer traffic, and higher-than-anticipated marketing costs[233](index=233&type=chunk)[215](index=215&type=chunk) - The company holds **$169.3 million** in equity method investments in private, early-stage entities, which are inherently risky and could lead to material losses[236](index=236&type=chunk)[217](index=217&type=chunk) - There is a risk that the company may be unable to generate sufficient future taxable income, which would require a valuation allowance on its deferred tax assets and materially increase expenses[237](index=237&type=chunk)[250](index=250&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No equity securities were repurchased during Q3 2023, leaving **$19.9 million** available under the authorized stock repurchase program - There were no stock repurchases made during the three months ended September 30, 2023[247](index=247&type=chunk) - As of September 30, 2023, the approximate dollar value of shares that may yet be purchased under the stock repurchase program is **$19.9 million**[247](index=247&type=chunk)[118](index=118&type=chunk) [Item 5. Other Information](index=36&type=section&id=Item%205.%20Other%20Information) Three company directors adopted Rule 10b5-1(c) trading plans in September 2023 for common stock sales in early 2024 - Three directors adopted Rule 10b5-1(c) trading plans in September 2023 to sell company stock in Q1 2024[241](index=241&type=chunk)[251](index=251&type=chunk)[223](index=223&type=chunk) [Item 6. Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO/CFO certifications and financial statements in XBRL format - The report includes CEO and CFO certifications (Exhibits 31.1, 31.2, 32.1, 32.2) and financial data in XBRL format (Exhibits 101, 104)[242](index=242&type=chunk)

Overstock.com, Inc. (OSTK) Q3 2023 Earnings Call Transcript October 26, 2023 8:30 AM ET Company Participants Lavesh Hemnani - Head of Investor Relations Jonathan Johnson - Chief Executive Officer Adrianne Lee - Chief Financial Officer Dave Nielsen - President Conference Call Participants Tom Forte - D. A. Davidson Peter Keith - Piper Sandler Anna Andreeva - Needham and Company Seth Sigmund - Barclays Steven Forbes - Guggenheim Partners Jonathan Matuszewski - Jefferies Operator Good day and thank you for sta ...

Q3 2023 Earnings Call The information presented herein may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements include all statements other than statements of historical fact, including forecasts of trends, market conditions, the impact of our national marketing campaign, and other factors that will impact our results of operations. You should not place undue reliance on any forward-looking statements, which speak only as of the date they wer ...