Wayfair Inc. Q3 2026 Earnings Recap

Wayfair’s shares rose 11.0% after earnings, as Q3 delivered 9.7% revenue growth and double-digit US growth, alongside a 6.9% adjusted EBITDA margin. Order and customer growth, plus lower advertising spend as a share of revenue, were key positives; the transcript provided no Q4 guidance details in the excerpt.

Key Takeaways

• Total net revenue increased 9.7% year over year; US revenue grew more than 11% against a roughly flat category.
• Orders rose 12%, active customers increased more than 4%, and new customer orders grew over 14%.
• Adjusted EBITDA margin was 6.9%, which management called its best Q3 result since 2020.
• Advertising spend was below 10% of revenue for the first time since 2021; revenue from direct visits increased more than 15%.
• Management said international markets are earlier in the same growth playbook, with more initiatives yet to roll out.