Wayfair Inc. (NYSE:W) Q2 2023 Earnings Conference Call August 3, 2023 8:00 AM ET

Company Participants

James Lamb - Head of Investor Relations

Niraj Shah - CEO, Co-Founder and Co-Chairman

Steve Conine - Co-Chairman and Co-Founder

Kate Gulliver - Chief Financial Officer and Chief Administrative Officer

Conference Call Participants

Christopher Horvers - JPMorgan

Maria Ripps - Canaccord

John Blackledge - TD Cowen

Alexandra Steiger - Goldman Sachs

Curtis Nagle - Bank of America

Steven Forbes - Guggenheim Securities

Jonathan Matuszewski - Jefferies

Anna Andreeva - Needham

Ygal Arounian - Citigroup

Michael Lasser - UBS

Colin Sebastian - Baird

Operator

Good morning. My name is Dennis, and I will be your conference operator today. At this time, I would like to welcome everyone to the Wayfair Second Quarter 2023 Earnings Release and Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks, there will be a question-and-answer session. [Operator Instructions].

I would now like to turn the conference over to James Lamb, Head of Investor Relations. Please go ahead.

James Lamb

Good morning, and thank you for joining us. Today, we will review our second quarter 2023 results. With me are Niraj Shah, Co-Founder, Chief Executive Officer and Co-Chairman; Steve Conine, Co-Founder and Co-Chairman; and Kate Gulliver, Chief Financial Officer and Chief Administrative Officer. We will all be available for Q&A following today's prepared remarks.

I would like to remind you that our call today will consist of forward-looking statements, including, but not limited to, those regarding our future prospects, business strategies, industry trends and our financial performance, including guidance for the third quarter of 2023. All forward-looking statements made on today's call are based on information available to us as of today's date. We cannot guarantee that any forward-looking statements will be accurate, although we believe that we have been reasonable in our expectations and assumptions.

Our 10-K for 2022, our 10-Q for this quarter and our subsequent SEC filings identify certain factors that could cause the company's actual results to differ materially from those projected in any forward-looking statements made today. Except as required by law, we undertake no obligation to publicly update or revise any of these statements whether as a result of any new information, future events or otherwise.

Also, please note that during this call, we will discuss certain non-GAAP financial measures, as we review the company's performance, including adjusted EBITDA, adjusted EBITDA margin and free cash flow. These non-GAAP financial measures should not be considered replacements for and should be read together with GAAP results. Please refer to the Investor Relations section of our website to obtain a copy of our earnings release and investor presentation, which contain descriptions of our non-GAAP financial measures and reconciliations of non-GAAP measures to the nearest comparable GAAP measures. This call is being recorded, and a webcast will be available for replay on our IR website.