Wayfair Q2 Revenue Reaches $3.5B as Free Cash Flow Hits Post-2020 High
W sits 56% above its 52-week low of $55.6 on elevated volume (1.9× avg).
Summary
Wayfair posted Q2 2026 revenue of $3.5 billion, up 7.5% year-over-year, and generated free cash flow of $301 million — its strongest since 2020. Active customers grew to 21.7 million, with specialty brands delivering outsized growth.
Key Events · Earnings and Guidance · W
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Revenue Growth Accelerates
Q2 net revenue of $3.5 billion, up 7.5% year-over-year, with U.S. revenue up 8.7% — the best post-COVID growth rate.
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Free Cash Flow Hits Multi-Year High
Free cash flow of $301 million, the strongest since 2020, driven by $360 million in operating cash flow.
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Adjusted EBITDA Improves
Adjusted EBITDA of $242 million (6.9% margin) vs. $205 million a year ago, reflecting operating leverage.
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Customer Base Expands
Active customers reached 21.7 million, up 3.3% year-over-year, with orders delivered up 6.0% to 10.6 million.
Analysis · W · Trade & Services
A 7.5% revenue increase to $3.5 billion marked a strong second quarter for Wayfair, fueled by an 8.7% surge in the U.S. market. Profitability and cash generation are clearly improving, with adjusted EBITDA of $242 million and free cash flow of $301 million — the best showing since 2020. The active customer count rose to 21.7 million, while specialty brands like Perigold soared more than 35%. These numbers point to market share gains and solid execution, though a net loss of $1 million and ongoing debt management efforts keep the overall picture mixed.
At the time of this filing, W was trading at $87.00 on NYSE in the Trade & Services sector, with a market capitalization of approximately $11.8B. The 52-week trading range was $55.60 to $119.98. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.