Beyond Inc (FRA:OVER)
€ 5.676 0.016 (0.28%) Market Cap: 267.15 Mil Enterprise Value: 140.04 Mil PE Ratio: 0 PB Ratio: 1.48 GF Score: 51/100
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Q2 2024 Beyond Inc Earnings Call Transcript

Jul 30, 2024 / 12:30PM GMT
Release Date Price: €12.92 (+4.40%)

Key Points

Positve
  • Beyond Inc (BYON) achieved its revenue target for the second quarter and improved its bottom line by approximately 25%.
  • The company successfully increased its active customer base and their average order value.
  • Beyond Inc (BYON) established new partnerships in the liquidation and closeout sectors, enhancing its business model.
  • The relaunch of Overstock has been accretive to the company's overall gross margin.
  • The company reduced fixed costs, resulting in a sequential improvement of more than $11 million in adjusted EBITDA.
Negative
  • Revenue declined by 6% year-over-year in the second quarter.
  • Gross margin decreased by 530 basis points compared to the same period last year due to elevated discounting and higher carrier costs.
  • The company reported an adjusted EBITDA loss of $36 million for the second quarter.
  • The macroeconomic environment and geopolitical factors are creating challenges for consumer demand.
  • The company is not satisfied with its current ad spend as a percentage of revenue, indicating room for improvement in marketing efficiency.
Steven Forbes
Guggenheim Partners - Analyst

Thank you for standing by, and welcome to the Beyond, Inc. second quarter 2024 earnings conference call. (Operator Instructions) As a reminder, today's program is being recorded.

And now I'd like to introduce your host for today's program, Alexis Callahan, Vice President of Investor Relations and Public Relations. Please go ahead.

Alexis Callahan
Beyond Inc - Vice President of Investor Relations and Public Relations

Thank you, operator. Good morning, and welcome to Beyond, Inc.'s second quarter 2024 earnings conference call. Joining me on the call today are Executive Chairman, Marcus Lemonis; Chief Financial and Administrative Officer, Adrianne Lee; and President, Dave Nielsen.

Today's discussion and our responses to your questions reflect management's views as of today, July 30, 2024, and may include forward-looking statements, including without limitation regarding our future goals, revenue, file size, financial performance, our outlook for the remainder of the year or any other period, growth,

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