10-Q Filing

Wayfair Inc. CIK: 1616707 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001616707-22-000071`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	w-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 36 Cash Flow Statement 58 Stockholders Equity 18 Comprehensive Income 8

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Convertible redeemable preferred units, par value (in usd per share)	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible redeemable preferred units, par value (in usd per share)	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible redeemable preferred units, shares authorized (in shares)	`TemporaryEquitySharesAuthorized`	10.00M	shares	Point-in-time
Convertible redeemable preferred units, shares authorized (in shares)	`TemporaryEquitySharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.71B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.20B	USD	Point-in-time
Convertible redeemable preferred units, shares issued (in shares)	`TemporaryEquitySharesIssued`	0.00	shares	Point-in-time
Convertible redeemable preferred units, shares issued (in shares)	`TemporaryEquitySharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$693.00M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$787.00M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$270.00M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$226.00M	USD	Point-in-time
Inventories	`InventoryNet`	$80.00M	USD	Point-in-time
Inventories	`InventoryNet`	$69.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$343.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$318.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.01B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.68B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$849.00M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$844.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$674.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$698.00M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$34.00M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$35.00M	USD	Point-in-time
Total assets	`Assets`	$4.57B	USD	Point-in-time
Total assets	`Assets`	$4.26B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.17B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.17B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.05B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.02B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.22B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.20B	USD	Point-in-time
Long-term debt	`LongTermDebt`	$3.05B	USD	Point-in-time
Long-term debt	`LongTermDebt`	$3.05B	USD	Point-in-time
Operating lease liabilities, net of current	`OperatingLeaseLiabilityNoncurrent`	$892.00M	USD	Point-in-time
Operating lease liabilities, net of current	`OperatingLeaseLiabilityNoncurrent`	$881.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$28.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$26.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.19B	USD	Point-in-time
Total liabilities	`Liabilities`	$6.16B	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 5)	`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, 2022 and December 31, 2021	`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, 2022 and December 31, 2021	`TemporaryEquityCarryingAmountAttributableToParent`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$337.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$374.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.27B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.95B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.00M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.62B	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.19B	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.90B	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.47B	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$4.26B	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$4.57B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.99B	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.48B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$2.48B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$2.19B	USD	1 Quarter
Gross profit	`GrossProfit`	$803.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.00B	USD	1 Quarter
Customer service and merchant fees	`CustomerServiceAndMerchantFees`	$151.00M	USD	1 Quarter
Customer service and merchant fees	`CustomerServiceAndMerchantFees`	$147.00M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$336.00M	USD	1 Quarter
Advertising	`AdvertisingExpense`	$366.00M	USD	1 Quarter
Selling, operations, technology, general and administrative	`SellingTechnologyOperationsGeneralAndAdministrativeExpense`	$626.00M	USD	1 Quarter
Selling, operations, technology, general and administrative	`SellingTechnologyOperationsGeneralAndAdministrativeExpense`	$452.00M	USD	1 Quarter
Customer service center impairment and other charges	`OtherCostAndExpenseOperatingCustomerServiceCenterImpairmentAndOtherCharges`	$12.00M	USD	1 Quarter
Customer service center impairment and other charges	`OtherCostAndExpenseOperatingCustomerServiceCenterImpairmentAndOtherCharges`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$977.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.11B	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$26.00M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-310.00M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-7.00M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-8.00M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-3.00M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-318.00M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$16.00M	USD	1 Quarter
Provision (benefit) for income taxes, net	`IncomeTaxExpenseBenefit`	$-2.00M	USD	1 Quarter
Provision (benefit) for income taxes, net	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-319.00M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$-3.04	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$-3.04	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	105.00M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	103.00M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.00M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	105.00M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-319.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$81.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$85.00M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$75.00M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$104.00M	USD	1 Quarter
Amortization of discount and issuance costs on convertible notes	`AmortizationOfFinancingCostsAndDiscounts`	$2.00M	USD	1 Quarter
Amortization of discount and issuance costs on convertible notes	`AmortizationOfFinancingCostsAndDiscounts`	$2.00M	USD	1 Quarter
Loss on impairment	`AssetImpairmentCharges`	$12.00M	USD	1 Quarter
Loss on impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$2.00M	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-4.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$45.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-3.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$8.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$11.00M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$64.00M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$20.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.00M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$58.00M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-26.00M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$4.00M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	1 Quarter
Net cash flows (for) from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-226.00M	USD	1 Quarter
Net cash flows (for) from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$177.00M	USD	1 Quarter
Purchase of short- and long-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$226.00M	USD	1 Quarter
Purchase of short- and long-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$340.00M	USD	1 Quarter
Sale and maturities of short- and long-term investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$130.00M	USD	1 Quarter
Sale and maturities of short- and long-term investments	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$193.00M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.00M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$40.00M	USD	1 Quarter
Site and software development costs	`PaymentsForSiteandSoftwareDevelopmentCosts`	$65.00M	USD	1 Quarter
Site and software development costs	`PaymentsForSiteandSoftwareDevelopmentCosts`	$41.00M	USD	1 Quarter
Net cash flows for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-201.00M	USD	1 Quarter
Net cash flows for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-212.00M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$75.00M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash flows for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-75.00M	USD	1 Quarter
Net cash flows for financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-4.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-8.00M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-43.00M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-506.00M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.09B	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.13B	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.71B	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.20B	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.09B	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.13B	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.71B	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.20B	USD	Point-in-time
Cash paid for interest on long-term debt	`InterestPaidNet`	$9.00M	USD	1 Quarter
Cash paid for interest on long-term debt	`InterestPaidNet`	$11.00M	USD	1 Quarter
Non-cash impact to equity upon conversion of convertible notes, net of taxes	`ConversionOfStockAmountIssued1`	$251.00M	USD	1 Quarter
Non-cash impact to equity upon conversion of convertible notes, net of taxes	`ConversionOfStockAmountIssued1`	-	USD	1 Quarter
Purchase of property and equipment included in accounts payable and accrued expenses and in other liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$26.00M	USD	1 Quarter
Purchase of property and equipment included in accounts payable and accrued expenses and in other liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$39.00M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-1.62B	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.19B	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.90B	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.47B	USD	Point-in-time
Net (loss) income	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-319.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-3.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$3.00M	USD	1 Quarter
Issuance of common stock upon vesting of RSUs	`StockIssuedDuringPeriodValueVestingOfRestrictedStockUnits`	-	USD	1 Quarter
Issuance of common stock upon vesting of RSUs	`StockIssuedDuringPeriodValueVestingOfRestrictedStockUnits`	-	USD	1 Quarter
Equity-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$112.00M	USD	1 Quarter
Equity-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$81.00M	USD	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$75.00M	USD	1 Quarter
Shares issued upon conversion of convertible notes (Note 4)	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$251.00M	USD	1 Quarter
Balance	`StockholdersEquity`	$-1.62B	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.19B	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.90B	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.47B	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$18.00M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-319.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$3.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.00M	USD	1 Quarter
Net unrealized (loss) gain on available-for-sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Net unrealized (loss) gain on available-for-sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-2.00M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-322.00M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$21.00M	USD	1 Quarter

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