Wayfair Q3 2026 Earnings: US Sales Up 11.4% as It Returns to Profit

Wayfair, the online retailer of furniture and home goods, reported on November 4, 2026 that its third-quarter revenue rose 9.7% to $3.42 billion, its fastest growth since the pandemic boom. The gain came almost entirely from the United States, where sales climbed 11.4%, and it helped the company swing from a large loss a year earlier to a $62 million profit. Wayfair says it is winning market share in a home goods category that is barely growing.

What did Wayfair report for Q3 2026?

The results cover the three months to September 30, 2026. Here are the headline numbers from Wayfair’s earnings release:

Metric	Q3 2026	Change
Total net revenue	$3.42 billion	Up 9.7%
US net revenue	$3.04 billion	Up 11.4%
International net revenue	$380 million	Down 2.3%
Net income	$62 million	vs. $99 million loss
Adjusted EBITDA	$236 million (6.9% margin)	vs. $208 million
Orders delivered	11.0 million	Up 12.2%
Active customers	22.2 million	Up 4.7%
Average order value	$311	Down from $317

Diluted earnings came to $0.45 per share. On an adjusted basis, which excludes certain items such as equity-based compensation, earnings were $0.93 per share, up from $0.70 a year earlier.

Co-founder and chief executive Niraj Shah called it “our strongest quarter of growth in the post-pandemic period.” He also said the company believes its share gains are lasting rather than temporary.

Why is Wayfair growing again?

Shah described this as the best quarter of growth Wayfair has had since the pandemic. The latest results suggest growth has returned, but not because the overall market has recovered.

According to TradingKey’s summary of the results, management said the home goods category was roughly flat during the quarter. That means Wayfair’s double-digit US growth came from taking customers and orders from competitors. Shah linked the US gain to more orders and more customers, rather than bigger baskets.

The customer numbers back that up. Orders delivered grew faster than revenue, at 12.2%, while the average order value fell by $6 to $311. Shoppers are buying more often, but spending slightly less each time. Orders per customer rose to 1.90 from 1.87, and repeat customers placed 80% of all orders delivered. About 64% of orders were placed on mobile devices.

How profitable is Wayfair now?

The swing to profit is the biggest change from a year ago. In the third quarter of 2025, Wayfair reported a $99 million net loss, which included a one-off loss of about $99 million on paying off debt early. That charge did not repeat this year.

Operating income rose to $106 million from $38 million. Gross margin dipped slightly to 29.6% from 30.0%, but tighter control of other costs lifted profit overall.

Cash generation also improved. Operating cash flow was $198 million and free cash flow, as defined by the company, reached $136 million, up from $93 million. Wayfair ended the quarter with about $1.1 billion in cash and short-term investments and total liquidity of $1.5 billion. Long-term debt fell to about $2.57 billion from $3.23 billion at the end of 2025.

What about Wayfair’s international business?

Outside the US, the picture was weaker. International revenue fell 2.3% to $380 million, or 1.8% in constant currency. TradingKey reported that the international segment’s adjusted EBITDA was a loss of $25 million, compared with a loss of about $1 million a year earlier, while the US segment’s adjusted EBITDA grew to $261 million.

How did investors react?

Investors welcomed the numbers. The FINANCIAL reported that Wayfair shares were trading about 12% higher at around $124.68 in the early afternoon of November 4, up from a previous close of $111.32. Several banks, including J.P. Morgan and Mizuho, had raised their price targets in the days before the results.

Wayfair’s results come during a busy earnings season for online retail. Shopify reported 32% revenue growth earlier the same week, and the high-end home marketplace 1stDibs recently named a new CEO.

Why it matters

Furniture and home goods are among the hardest categories to sell online. Items are bulky, expensive to ship and often returned. Wayfair’s results show that a large specialist retailer can still grow faster than its market by getting existing customers to come back more often.

The open questions are whether the US momentum can last into the holiday season, and whether Wayfair can stop the losses in its international business. The earnings release did not include a numerical forecast for the fourth quarter, so investors will be watching early holiday sales data closely.

What happens next?

Wayfair’s next report will cover the fourth quarter and full year 2026. Until then, the key things to watch are whether order growth holds up through the holiday period, whether cash generation stays strong, and how quickly the company keeps paying down debt.