Wayfair (NYSE: W) reported Q1 EPS of ($1.62), $0.02 worse than the analyst estimate of ($1.60). Revenue for the quarter came in at $1.94 billion versus the consensus estimate of $1.92 billion.

First Quarter 2019 Financial Highlights

• Direct Retail net revenue, consisting of sales generated primarily through Wayfair’s sites, increased $542.3 million to $1.9 billion, up 39.0% year over year
• Gross profit was $470.5 million or 24.2% of total net revenue
• GAAP net loss was $200.4 million
• Adjusted EBITDA was $(102.2) million or (5.3)% of total net revenue
• GAAP basic and diluted net loss per share was $2.20
• Non-GAAP diluted net loss per share was $1.62
• Non-GAAP free cash flow was $(166.8) million
• At the end of the first quarter, cash, cash equivalents, and short-term and long-term investments totaled $805.7 million

"We are excited to report a strong start to 2019 marked by another consecutive quarter of exceptional growth with Direct Retail net revenue up $542 million dollars, or 39%, year over year, for a total net revenue of $1.9 billion," said Niraj Shah, CEO, co-founder and co-chairman, Wayfair. "Our ongoing investments in building our logistics infrastructure, deepening our product offering, and finding new ways to serve our customer are just a few of the many areas that are driving the momentum we are seeing today. Once again, Way Day, our biggest retail event of the year, was a tremendous success for the business breaking our record for the highest revenue grossing day in company history. We look forward to the sizeable opportunity ahead as we continue to transform the experience of shopping for the home and remain well positioned to take share of the dollars that are coming online in the home category."

For earnings history and earnings-related data on Wayfair (W) click here.