Growth sets a new record! Overstock's annual net income is 2.8 billion

On February 23, the US e-commerce platform Overstock announced its financial results for the fourth quarter and full year of 2021 , with impressive growth.

The financial report shows that Overstock's net income in the fourth quarter was US$613 million , a year-on-year decrease of 9% , and gross profit was US$139 million , accounting for 22.7% of total net income .

The number of active customers in the fourth quarter was 8.1 million, a year-on-year decrease of 12% . In the past year, the net income per active customer was $341, a year-on-year increase of 26% , the average order value was $206, a year-on-year increase of 23 % , and the delivery orders were 3 million, a year-on-year decrease of 25%.

The financial report shows that in terms of financial terms for the whole year of 2021 , Overstock 's total net revenue reached US$2.8 billion, an increase of 11% year-on-year , almost twice as much as before the epidemic .

Gross profit was $624 million , or 22.6% of total net revenues ; income from continuing operations was $172 million , or $3.57 per diluted share ; adjusted EBITDA (non-GAAP) was $142 million, or 5.1% of net revenues , and net cash provided by operating activities for the full year was $98 million

Overstock CEO Jonathan Johnson said this was the company's second consecutive year of profit and market share growth , with full-year 2021 net income 11% higher than the record growth in 2020 .

Jonathan Johnson also said that the fundamental operational improvements they have made over the past two years have stabilized the business and positioned the company well to cope with long-term economic and industry-specific cycles. They are able to adapt, execute and take advantage of both positive and negative shocks in the market.

Due to the epidemic, the consumer market for home furnishing products in the United States has rapidly heated up, promoting sales growth on e-commerce platforms such as Wayfair and Overstock that mainly focus on home furnishing products.

Overstock is an American online retailer and technology company founded in 1999 and headquartered in Salt Lake City, Utah . The company's e-commerce platform mainly sells new home products, including furniture, decorations, carpets, bedding and bathroom, home improvement and other products.

In addition, its platform also provides consumers with a variety of products such as jewelry, electronic products, clothing, etc. The products are gradually becoming more refined and the operations are becoming more and more sophisticated.

Overstock

Net income: 2.8 billion