- Overstock.com Inc OSTK reported a third-quarter FY22 sales decline of 33% year-on-year to $460.28 million, missing the consensus of $479.46 million.
- Active customers decreased 33% Y/Y to 5.8 million. Orders delivered fell 41% Y/Y to 1.9 million, and the average order value gained 13% Y/Y to $243.
- Adjusted EPS of $0.13 beat the analyst consensus of $0.12.
- Gross profit fell 31.4% Y/Y to $107.5 million, with a gross profit margin of 23.3%.
- Operating margin was 1.2%, and operating income for the quarter declined over 95% to $5.7 million.
- Adjusted EBITDA decreased to $14.8 million from $36.1 million last year.
- The company held $427.5 million in cash and equivalents as of September 30, 2022. Cash provided by operating activities for nine months amounted to $17.6 million.
- Price Action: OSTK shares are trading lower by 3.39% at $24.76 on the last check Thursday.
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