Wayfair, Inc. (NYSE:W) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET

Company Participants

James Lamb - IR

Niraj Shah - Co-Founder, Co-Chairman, President & CEO

Kate Gulliver - CFO & Chief Administrative Officer

Conference Call Participants

Alexandra Steiger - Goldman Sachs Group

Christopher Horvers - JPMorgan Chase & Co.

Brian Nagel - Oppenheimer

Oliver Wintermantel - Evercore ISI

John Blackledge - TD Cowen

Anna Andreeva - Needham & Company

Curtis Nagle - Bank of America Merrill Lynch

Ygal Arounian - Citigroup

Operator

Good day, and welcome to the Wayfair Q1 2023 Earnings Release Conference Call. [Operator Instructions]. And finally, I would like to provide all participants that this call is being recorded. Thank you. I'd now like to welcome James Lamb to begin the conference. James, over to you.

James Lamb

Good morning, and thank you for joining us. Today, we will review our first 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 second 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.