Overstock.com Q4 Earnings Miss Estimates

Overstock.com Inc OSTK reported a fourth-quarter FY21 sales decline of 9% year-on-year, to $612.66 million, missing the consensus of $657.39 million.
Active customers decreased 12% Y/Y to 8.1 million. Orders delivered fell 25% Y/Y to 3 million, and the average order value gained 23% Y/Y to $206.
Adjusted EPS of $0.36 missed the analyst consensus of $0.39.
The gross profit fell 7.8% Y/Y to $139 million with a gross profit margin of 22.7%.
The operating margin was 3.1%, and operating income for the quarter declined 14.5% to $19.1 million.
Adjusted EBITDA decreased 8.6% Y/Y to $27.3 million.
The company held $503.3 million in cash and equivalents as of December 31, 2021. Cash provided by operating activities for twelve months amounted to $80.9 million.
"Navigating the operating environment in our industry during the fourth quarter was challenging," said CEO Jonathan Johnson.
Price Action: OSTK shares are trading higher by 11.1% at $40.49 in premarket on the last check Wednesday.