Beyond(BYON) - 2025 Q2 - Quarterly Results

Financial Performance - Q2 2025 revenue reached $282 million, a 22% sequential increase from Q1 2025[1] - Year-over-year net loss narrowed by 55%, with an adjusted EBITDA loss of $8 million, improving by 78%[1] - Gross profit was $67 million, representing 23.7% of net revenue, a 360 basis points improvement year-over-year[5] - Consolidated net loss for the six months ended June 30, 2025, was $59,225, compared to a net loss of $116,506 for the same period in 2024, representing a 49.1% improvement[17] - Adjusted EBITDA for the six months ended June 30, 2025, was $(21,306), an improvement from $(84,219) in the same period of 2024[27] - Free cash flow for the six months ended June 30, 2025, was $(38,086), compared to $(118,453) for the same period in 2024, indicating a significant reduction in cash burn[28] - Net cash used in operating activities for the six months ended June 30, 2025, was $(35,092), down from $(110,502) in 2024, showing a 68.3% decrease[28] - The company reported a net cash decrease of $38,562 for the six months ended June 30, 2025, compared to a decrease of $116,407 in the same period of 2024[17] - The company raised $24,222 from the sale of common stock during the financing activities in the six months ended June 30, 2025[17] Operational Metrics - Active customers decreased to 4,356 in the three months ended June 30, 2025, down from 6,221 in the same period of 2024, indicating a decline of 30%[22] - Last twelve months (LTM) net revenue per active customer increased to $259 in Q2 2025, up from $247 in Q2 2024, reflecting a growth of 4.9%[22] - Total orders delivered in Q2 2025 were 1,289, a decrease of 33.9% from 1,949 orders delivered in Q2 2024[22] - Average order value rose to $219 in Q2 2025, compared to $204 in Q2 2024, marking a 7.4% increase[22] Cost Management - Sales and marketing expenses totaled $38 million, or 13.5% of net revenue, reflecting a 320 basis points improvement year-over-year[5] - Technology and G&A expenses decreased to $37 million from $46 million in 2024, a $9 million improvement year-over-year[5] Strategic Initiatives - The company is focused on enhancing its core e-commerce retail business and unlocking value in its blockchain asset portfolio[2] - A new small-format Bed Bath & Beyond Home store is set to open in Nashville, Tennessee, representing a scalable model for community engagement[2] - The company aims to unify its tech stack across its family of brands to enhance the digital experience for customers[2] - The GENIUS Act provides regulatory clarity and consumer protections for digital assets, which the company views as a significant opportunity[2]