10-Q Filing

Wayfair Inc. CIK: 1616707 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001616707-20-000079`
Period End Date	20200331
Filing Date	20200505
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	a2020-03x31form10xq_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 30 Cash Flow Statement 60 Stockholders Equity 19 Comprehensive Income 8

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$31.88M	USD	Point-in-time
Accounts receivable allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$22.77M	USD	Point-in-time
Convertible redeemable preferred units, par value (in dollars per share)	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible redeemable preferred units, par value (in dollars per share)	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$849.46M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$582.75M	USD	Point-in-time
Convertible redeemable preferred units, shares authorized (in shares)	`TemporaryEquitySharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$624.48M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$722.36M	USD	Point-in-time
Convertible redeemable preferred units, shares authorized (in shares)	`TemporaryEquitySharesAuthorized`	10.00M	shares	Point-in-time
Convertible redeemable preferred units, shares issued (in shares)	`TemporaryEquitySharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$266.50M	USD	Point-in-time
Convertible redeemable preferred units, shares issued (in shares)	`TemporaryEquitySharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$404.25M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $31,884 and $22,774 at March 31, 2020 and December 31, 2019, respectively	`AccountsReceivableNetCurrent`	$110.26M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $31,884 and $22,774 at March 31, 2020 and December 31, 2019, respectively	`AccountsReceivableNetCurrent`	$99.72M	USD	Point-in-time
Inventories	`InventoryNet`	$56.57M	USD	Point-in-time
Inventories	`InventoryNet`	$61.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$220.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$228.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.28B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.38B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$763.40M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$780.12M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$661.22M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$624.54M	USD	Point-in-time
Goodwill and intangible assets, net	`GoodwillAndIntangibleAssetsNet`	$18.41M	USD	Point-in-time
Goodwill and intangible assets, net	`GoodwillAndIntangibleAssetsNet`	$18.81M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	-	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$155.69M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$13.47M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$13.47M	USD	Point-in-time
Total assets	`Assets`	$2.75B	USD	Point-in-time
Total assets	`Assets`	$2.95B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$838.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$908.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$255.35M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$298.92M	USD	Point-in-time
Unearned revenue	`ContractWithCustomerLiabilityCurrent`	$164.12M	USD	Point-in-time
Unearned revenue	`ContractWithCustomerLiabilityCurrent`	$167.64M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$236.86M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$236.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.61B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.49B	USD	Point-in-time
Long-term debt	`LongTermDebt`	$1.46B	USD	Point-in-time
Long-term debt	`LongTermDebt`	$1.58B	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$838.91M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$822.60M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$12.92M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$6.94M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.90B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.92B	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Convertible preferred stock, $0.001 par value per share: 10,000,000 shares authorized and none issued at March 31, 2020 and December 31, 2019	`TemporaryEquityCarryingAmountAttributableToParent`	-	USD	Point-in-time
Convertible preferred stock, $0.001 par value per share: 10,000,000 shares authorized and none issued at March 31, 2020 and December 31, 2019	`TemporaryEquityCarryingAmountAttributableToParent`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.12B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.18B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.07B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.36B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$642.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.43M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-944.21M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-479.15M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.17B	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-330.72M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$2.95B	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$2.75B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`Revenues`	$2.33B	USD	1 Quarter
Net revenue	`Revenues`	$1.94B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.75B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.47B	USD	1 Quarter
Gross profit	`GrossProfit`	$579.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$470.46M	USD	1 Quarter
Customer service and merchant fees	`CustomerServiceAndMerchantFees`	$89.46M	USD	1 Quarter
Customer service and merchant fees	`CustomerServiceAndMerchantFees`	$76.47M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$275.76M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$243.97M	USD	1 Quarter
Selling, operations, technology, general and administrative	`SellingTechnologyOperationsGeneralAndAdministrativeExpense`	$475.97M	USD	1 Quarter
Selling, operations, technology, general and administrative	`SellingTechnologyOperationsGeneralAndAdministrativeExpense`	$343.65M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$841.19M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$664.09M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-262.07M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-193.63M	USD	1 Quarter
Interest (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-9.24M	USD	1 Quarter
Interest (expense), net	`InterestIncomeExpenseNonoperatingNet`	$-22.22M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-246.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$3.08M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-284.53M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-199.79M	USD	1 Quarter
Provision for income taxes, net	`IncomeTaxExpenseBenefit`	$1.33M	USD	1 Quarter
Provision for income taxes, net	`IncomeTaxExpenseBenefit`	$595.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-285.87M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-200.39M	USD	1 Quarter
Net loss per share, basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-2.20	USD	1 Quarter
Net loss per share, basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-3.04	USD	1 Quarter
Weighted average number of common stock outstanding used in computing per share amounts, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.10M	shares	1 Quarter
Weighted average number of common stock outstanding used in computing per share amounts, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	94.09M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-285.87M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-200.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$39.58M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$66.84M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$59.45M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$47.06M	USD	1 Quarter
Amortization of discount and issuance costs on convertible notes	`AmortizationOfFinancingCostsAndDiscounts`	$19.53M	USD	1 Quarter
Amortization of discount and issuance costs on convertible notes	`AmortizationOfFinancingCostsAndDiscounts`	$12.46M	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$633.00K	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$1.37M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$11.57M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$16.22M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.02M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.43M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.80M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$10.54M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$46.63M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-114.62M	USD	1 Quarter
Unearned revenue and other liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherLiabilities`	$-4.93M	USD	1 Quarter
Unearned revenue and other liabilities	`IncreaseDecreaseInDeferredRevenueAndOtherLiabilities`	$2.38M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$704.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-24.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-256.29M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-81.35M	USD	1 Quarter
Sale and maturities of short- and long-term investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$294.81M	USD	1 Quarter
Sale and maturities of short- and long-term investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$37.94M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$60.63M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$59.96M	USD	1 Quarter
Site and software development costs	`PaymentsForSiteandSoftwareDevelopmentCosts`	$38.37M	USD	1 Quarter
Site and software development costs	`PaymentsForSiteandSoftwareDevelopmentCosts`	$24.84M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$124.00K	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.84M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$196.35M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-44.70M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromLinesOfCredit`	$100.00M	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsForTaxesOnNetShareSettlementOfEquityAwards`	$165.00K	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsForTaxesOnNetShareSettlementOfEquityAwards`	-	USD	1 Quarter
Deferred financing costs	`PaymentsOfDebtIssuanceCosts`	$791.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Net proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$67.00K	USD	1 Quarter
Net proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$125.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$100.12M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-889.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.54M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-169.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$41.73M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-127.10M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$849.46M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$582.75M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$624.48M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$722.36M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$849.46M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$582.75M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$624.48M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$722.36M	USD	Point-in-time
Cash paid for interest on long-term debt	`InterestPaidNet`	$5.45M	USD	1 Quarter
Cash paid for interest on long-term debt	`InterestPaidNet`	$809.00K	USD	1 Quarter
Purchase of property and equipment included in accounts payable and accrued expenses and in other liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$3.14M	USD	1 Quarter
Purchase of property and equipment included in accounts payable and accrued expenses and in other liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$45.49M	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-944.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$-479.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.17B	USD	Point-in-time
Balance	`StockholdersEquity`	$-330.72M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-285.87M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-200.39M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$2.07M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$796.00K	USD	1 Quarter
Exercise of options to purchase common stock	`StockIssuedDuringPeriodValueStockOptionsExercised`	$67.00K	USD	1 Quarter
Exercise of options to purchase common stock	`StockIssuedDuringPeriodValueStockOptionsExercised`	$125.00K	USD	1 Quarter
Issuance of common stock upon vesting of RSUs	`StockIssuedDuringPeriodValueVestingOfRestrictedStockUnits`	-	USD	1 Quarter
Issuance of common stock upon vesting of RSUs	`StockIssuedDuringPeriodValueVestingOfRestrictedStockUnits`	$1.00K	USD	1 Quarter
Shares withheld related to net settlement of RSUs	`StockWithheldValueRelatedToNetSettlementOfRestrictedStockUnits`	$165.00K	USD	1 Quarter
Equity-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$49.41M	USD	1 Quarter
Equity-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$62.00M	USD	1 Quarter
Balance	`StockholdersEquity`	$-1.17B	USD	Point-in-time
Balance	`StockholdersEquity`	$-944.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$-479.15M	USD	Point-in-time
Balance	`StockholdersEquity`	$-330.72M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-285.87M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-200.39M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$844.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.29M	USD	1 Quarter
Net unrealized gain (loss) on available-for-sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-48.00K	USD	1 Quarter
Net unrealized gain (loss) on available-for-sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$778.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-199.59M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-283.80M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.