Executive Summary

• Wayfair reported 4Q17 adjusted EPS of $(0.58), below the $(0.34) year-ago figure and missing the $(0.53) consensus estimate. Net revenue was $1.44 billion, up 46.2% year over year and ahead of the consensus estimate of $1.36 billion.
• Average order value was $229, above the $206.70 consensus estimate and the $203 figure from the year-ago period.
• The company guided for 1Q18 revenue of $1.33–$1.36 billion, above the consensus estimate of $1.28 billion. However, the company guided for an adjusted EBITDA margin of (4.2)%–(3.9)%, which is below consensus of (1.2)%.