Global online destination for home furnishings and décor, Wayfair, has reported a ‘continued rapid’ growth in its Q2 financial results ended 30 June 2016.
Wayfair posted a sales increase of 71.6% to $755.7m (£583.6m) within its Direct Retail business, consisting of sales generated primarily through the sites of Wayfair’s five brands.
Total net revenue increased to $786.9m (£607.6m), up 60% year-on-year, whist adjusted EBITDA was $24.9m (£19.2m) or 3.2% of total net revenue.
Wayfair added that it achieved a total of 6.7 million Active Customers, up 65% on last year. In the second quarter of 2016, 38.4% of total orders delivered for its Direct Retail business were placed via a mobile device, compared to 34.1% in the second quarter of 2015.
Niraj Shah, CEO, co-founder and co-chairman, Wayfair, said: “We are pleased to report the continued rapid growth of our business with Q2 net revenue up 60% year over year and our Direct Retail business up 72%.
“We look forward to building on our success in the United States and our investments in Europe and Canada, and remain very enthusiastic about our long term growth and profit potential.”