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๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Revenue: $9.962B (+7% YoY; +11% constant currency)
โข GAAP EPS: -$0.28 vs. +$0.05 YoY
โข GAAP Net Loss: $501M vs. $95M profit YoY
โข Operating Loss: $450M vs. $162M profit YoY
โข Gross Profit: $2.561B (-6% YoY)
โข Gross Margin: 25.7% (-364 bps YoY)
โข Adjusted EBITDA: $116M vs. $413M YoY (-72%)
โข Adjusted EBITDA Margin: 1.2% (-329 bps YoY)
โข Operating Cash Flow: $212M vs. $792M YoY
โข Free Cash Flow: -$72M vs. +$442M YoY
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๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐
โข Q3 constant-currency revenue growth of 11% exceeded prior guidance of 8%โ9%
โข Q3 adjusted EBITDA margin of 1.2% was within prior guidance of 0.5%โ1.5%
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๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Product Commerce revenue: $8.374B (+5% YoY; +8% constant currency)
โข Product Commerce adjusted EBITDA fell 45% to $385M, with margin declining 424 bps to 4.6%
โข Product Commerce active customers increased 2% to 25.2M
โข Revenue per active customer increased 3% to $332 (+6% constant currency)
โข Developing Offerings revenue rose 23% to $1.588B (+27% constant currency)
โข Developing Offerings adjusted EBITDA loss narrowed to $269M from $292M YoY
โข Incheon fulfillment center fire weighed on profitability; excluding related costs, operating loss was $202M and net loss $321M
โข Gross margin excluding fire-related costs was 26.7%
โข Repurchased 12.7M shares for $201M during Q3
โข TTM Operating Cash Flow: $845M vs. $2.367B YoY
โข TTM Free Cash Flow: -$409M vs. +$1.268B YoY