Overstock Announces Third Quarter 2023 Financial Results
Overstock.com, Inc. (OSTK)
Last overstock.com, inc. earnings: 11/12 08:00 am
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Source: GlobeNewswire
MIDVALE, Utah, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK), which operates as Bed Bath & Beyond, today reported financial results for the quarter ended September 30, 2023. Third Quarter 2023 Financial Highlights •Total net revenue was $373 million, a decrease of 19% year-over-year•Gross profit of $70 million, or 18.7% of total net revenue•Operating loss of $41 million•Net loss of $63 million•Diluted net loss per share of $1.39; Adjusted diluted net loss per share (non-GAAP) of $0.61•Adjusted EBITDA (non-GAAP) of ($24) million, which represents (6.4)% of net revenue•Cash and cash equivalents totaled $325 million at the end of the third quarter “Over the last three months, we have accelerated efforts to build a company with a bigger, brighter, and bolder future,” said Jonathan Johnson, Chief Executive Officer. “On June 28, we acquired the Bed Bath & Beyond brand and intellectual property – a brand ranked in the top five most recognized home brands in the
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