Overstock.Com, Inc. (NASDAQ:OSTK) reported Q3 revenues of $373.31 million, missing the analyst consensus of $397.17 million. Revenue fell 19% year over year.
The company reported adjusted EPS of $(0.61) loss, beating the analyst consensus of $(0.72) loss.
Gross profit in the quarter under review was $69.96 million, lower than $107.47 million a year ago.
In Q3, the company recorded active customers of 4.9 million, a decrease of 15% year-over-year.
In the quarter under review, the company delivered 1.9 million orders, an increase of 3% year-over-year.
The company's average order value of $192 decreased 21% year-over-year.
OSTK registered orders per active customer of 1.48, a decrease of 9% year-over-year.
On June 28, OSTK acquired the Bed Bath & Beyond brand, ranked in the top five most recognized home brands in the U.S.
The company also gained access to more than 100 million customer files and vendor relationships with some of the biggest home category brands in the world.
"We are in the early stages of capitalizing on our recent acquisition. Since launching the new Bed Bath & Beyond in the U.S. on August 1, we have been successful in acquiring new customers and reactivating past customers. Total active customers grew sequentially after over two years," said Jonathan Johnson, Chief Executive Officer.
"Orders have returned to positive year-over-year growth for the first time in over two years."
Price Action: OSTK shares are trading higher by 0.36% to $15.36 on the last check Thursday.
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