Beyond, Inc. reported a significant decline in its financial performance for the fiscal year ending December 31, 2024, with total revenue of $1.39 billion, representing an 11% decrease from $1.56 billion in 2023. The company's net loss for the year was $258.8 million, compared to a loss of $307.8 million in the previous year. This decline in revenue was attributed to an 8% decrease in orders delivered and a 3% drop in average order value, influenced by reduced website traffic and changing consumer spending habits amid challenging macroeconomic conditions.
In terms of operational changes, Beyond, Inc. underwent a corporate rebranding, changing its name from Overstock.com, Inc. to Beyond, Inc. in November 2023. The company also transferred its stock listing from the Nasdaq Global Market to the New York Stock Exchange. Additionally, Beyond, Inc. completed the sale of its corporate headquarters for $52 million in December 2024, which allowed the company to continue using the data center at the site under a lease agreement. The company has also expanded its product offerings and services, including the acquisition of the Buy Buy Baby brand for $5 million in early 2025.
The company reported a decrease in gross profit of 21% year-over-year, with gross margin falling to 20.8% from 23.4% in 2023. This decline was primarily due to increased promotional discounting and higher carrier costs. Sales and marketing expenses rose to 17.1% of revenue, up from 14.4% in the previous year, reflecting increased spending on performance marketing and brand advertising. Despite these challenges, Beyond, Inc. managed to reduce general and administrative expenses by 17.7% compared to 2023.
As of December 31, 2024, Beyond, Inc. had approximately 610 full-time employees, a slight decrease from previous years. The company continues to focus on enhancing its customer loyalty programs, including Beyond+ and Welcome Rewards, to improve customer retention. Looking ahead, Beyond, Inc. aims to navigate the ongoing economic challenges while leveraging its brand portfolio to drive growth and profitability. The company remains committed to monitoring macroeconomic trends and adjusting its strategies accordingly to ensure long-term sustainability.
About BEYOND, INC.
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