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Beyond Inc (BYON)
NYSE:BYON
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Beyond Inc
(NYSE:BYON)
Rating:52Neutral
Price Target:
$6.50
▼(-10.47%Downside)
Positive Factors
Cost Management
Increased profitability was primarily driven by eliminating unprofitable SKUs and Beyond’s commitment to reducing fixed expenses.
Operational Discipline
Adjusted EBITDA losses showed material improvement for the fifth consecutive quarter, showcasing the company’s operational discipline.
Revenue Growth Potential
Management noted that it is within 60 days of returning to revenue growth, stating that revenue hit a floor in Q1.
Negative Factors
Capital Requirements
Beyond had $141.5M in cash and $24.9M in debt and will need to raise additional capital to fund growth plans.
Financial Performance
Net revenue of $231.7M was down 39.4% y/y, below consensus of $288.1M, our estimate of $303.2M, and vs. guidance for a 'decline y/y'.
Revenue Estimates
The lower starting point still lowers '25E/'26E revenue estimates by -19%/-13%.
Beyond Inc (BYON) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$364.53M
Dividend YieldN/A
Average Volume (3M)2.60M
Price to Earnings (P/E)―
Beta (1Y)2.68
Revenue Growth-20.34%
EPS Growth43.05%
CountryUS
Employees610
SectorConsumer Cyclical
Sector Strength56
IndustrySpecialty Retail
Share Statistics
EPS (TTM)-0.42
Shares Outstanding57,679,460
10 Day Avg. Volume1,959,950
30 Day Avg. Volume2,599,565
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)2.25
Price to Sales (P/S)0.00
P/FCF Ratio-1.67
Enterprise Value/Market Cap0.73
Enterprise Value/Revenue0.05
Enterprise Value/Gross Profit0.98
Enterprise Value/Ebitda-0.30
Forecast
1Y Price Target
$7.20Price Target Upside-0.83% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering6
Beyond Inc Business Overview & Revenue Model
Company DescriptionBeyond, Inc. operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond and Bed Bath & Beyond Canada brand names. The company provides its products and services through its internet websites comprising bedbathandbeyond.com, bedbathandbeyond.ca, and overstockgovernment.com. It also offers businesses advertising products or services on its website; Marketplace, a service that allows its partners to sell their products through third party sites; products to international customers using third party logistics providers; and Supplier Oasis, a single integration point through its partners can manage their products, inventory, and sales channels, as well as obtain multi-channel fulfillment services through its distribution network. The company was formerly known as Overstock.com, Inc. and changed its name to Beyond, Inc. in November 2023. Beyond, Inc. was founded in 1997 and is headquartered in Midvale, Utah.
How the Company Makes MoneyBeyond Inc makes money primarily through the sale of its software products and subscription-based services. Its key revenue streams include software licensing fees, cloud service subscriptions, and professional services such as consulting and technical support. Additionally, the company benefits from strategic partnerships with major tech firms, which help expand its market reach and customer base. Revenue is also generated through custom solutions tailored to specific industry needs, providing significant value to enterprise clients.
Beyond Inc Earnings Call Summary
Earnings Call Date:Apr 28, 2025
(Q1-2025)
| % Change Since: 73.68%|
Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment Neutral
The earnings call highlights a company in transition, with significant restructuring and strategic shifts aimed at long-term growth and profitability. While there are positive signs of margin improvement and strategic acquisitions, substantial revenue decline and ongoing losses suggest challenges remain.Q1-2025 Updates
Positive Updates
Restructuring and Transformation
Beyond, Inc. has undergone significant restructuring, with a focus on rebuilding and reimagining the company. This involved reducing the workforce by 65% to 70% and refocusing on customer experience and site improvements.
Gross Margin Improvement
The gross margin expanded to 25% for the quarter, a 560-basis-point improvement compared to the same period last year, and a 210-basis-point improvement sequentially.
AOV Increase
The average order value (AOV) increased to $194, which is a $21 increase year-over-year, driven by incentives for larger basket sizes.
Cash Position and Investments
The company ended the quarter with $166 million in cash, cash equivalents, restricted cash, and inventory. Significant investments include $8 million in Kirkland's Home and the acquisition of buybuy BABY for $5 million.
Introduction of New Brand Initiatives
The company acquired and is re-launching buybuy BABY, with plans to expand the brand's presence and product offerings.
Negative Updates
Revenue Decline
Revenue declined 39% year-over-year in Q1 2025, largely due to elimination of non-contributory SKUs and vendors, and prioritization of marketing efficiencies.
Continued Losses
The company reported an adjusted EBITDA loss of $13 million, a 72% improvement year-over-year but still indicating financial challenges.
Challenges in Marketing Efficiency
Sales and marketing expenses were reduced, yet there's acknowledgment that marketing efficiency is not yet at desired levels, indicating room for improvement.
Company Guidance
During the Q1 2025 earnings call for Beyond Incorporated, management highlighted several key metrics and guidance for the coming quarters. The company reported a significant restructuring over the past year, resulting in a 39% revenue decline year-over-year for Q1, but they achieved a gross margin of 25%, a 560-basis-point improvement from the previous year. Average order value increased to $194, while units per order and order frequency held steady. The company plans to transition from restructuring to growth within 60 days, aiming for sequential revenue improvements in Q2 and Q3 of 2025. They anticipate revenue growth driven by improved marketing efficiencies, with sales and marketing expenses targeted at 13.5% to 14.75% of revenue in the short term. The company also aims to achieve a margin profile of 24% to 26% in the short term, with a long-term goal of 27%. They have a roadmap to reach breakeven EBITDA, requiring approximately $1.2 billion in annualized revenue at a 25% margin with 13% sales and marketing expenses. Additionally, Beyond Incorporated plans strategic investments in buybuy BABY and Kirkland’s, focusing on brand activation and omnichannel growth strategies. Management is optimistic about exploiting blockchain assets for additional value and mitigating potential tariff impacts through diversified sourcing.Beyond Inc Financial Statement Overview
Summary
Beyond Inc. faces significant financial challenges with declining revenues, negative profitability, and poor cash flows. The company's financial metrics indicate instability, with negative net income and decreasing gross profit margins.Income Statement
Beyond Inc. has experienced a significant decline in revenue from 2021 to 2025. The TTM data shows negative net income, resulting in a negative net profit margin of -18.06%, indicating financial instability. The gross profit margin has also decreased, standing at 21.68% in the TTM, reflecting reduced profitability. The EBIT and EBITDA margins are negative, further highlighting operational challenges.45
Neutral
Balance Sheet
The balance sheet shows a declining stockholders' equity and a high debt-to-equity ratio of 0.22 in the TTM, reflecting increased leverage. However, Beyond Inc. maintains a positive equity ratio of 39.41% in the TTM, indicating some level of financial stability. The return on equity is negative due to consistent net losses, which is a concern for investors.55
Neutral
Cash Flow
The cash flow statement indicates negative trends, with substantial negative free cash flow growth. The operating cash flow to net income ratio is negative, suggesting inefficiencies in converting sales to cash. The free cash flow to net income ratio also remains negative, highlighting poor cash management.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.24B | 1.39B | 1.56B | 1.93B | 2.76B | 2.49B |
| Gross Profit | 269.90M | 290.16M | 314.01M | 443.34M | 623.90M | 571.36M |
| EBITDA | -201.98M | -236.85M | -244.91M | -11.89M | 147.06M | 108.23M |
| Net Income | -224.78M | -258.80M | -307.84M | -35.24M | 389.37M | 56.00M |
Balance Sheet | ||||||
| Total Assets | 363.73M | 401.95M | 635.82M | 878.55M | 1.07B | 830.21M |
| Cash, Cash Equivalents and Short-Term Investments | 114.58M | 159.17M | 302.61M | 371.26M | 503.34M | 495.43M |
| Total Debt | 32.03M | 32.66M | 3.75M | 42.51M | 51.35M | 59.69M |
| Total Liabilities | 220.36M | 239.22M | 276.69M | 232.72M | 321.58M | 393.89M |
| Stockholders Equity | 143.37M | 162.73M | 359.13M | 645.83M | 744.39M | 373.69M |
Cash Flow | ||||||
| Free Cash Flow | -208.23M | -194.66M | -63.58M | -27.43M | 67.30M | 181.60M |
| Operating Cash Flow | -190.62M | -174.30M | -18.59M | -12.54M | 80.92M | 196.47M |
| Investing Cash Flow | 20.91M | 24.93M | -44.63M | -33.03M | -86.14M | -23.55M |
| Financing Cash Flow | 54.70M | 32.72M | -5.49M | -86.34M | -10.60M | 231.36M |
Beyond Inc Technical Analysis
Positive
7.26
Price Trends
5.49
Positive
5.86
Positive
6.67
Positive
Market Momentum
0.22
Positive
66.87
Neutral
62.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BYON, the sentiment is Positive. The current price of 7.26 is above the 20-day moving average (MA) of 6.47, above the 50-day MA of 5.49, and above the 200-day MA of 6.67, indicating a bullish trend. The MACD of 0.22 indicates Positive momentum. The RSI at 66.87 is Neutral, neither overbought nor oversold. The STOCH value of 62.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BYON.
Beyond Inc Risk Analysis
Beyond Inc disclosed 42 risk factors in its most recent earnings report. Beyond Inc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Beyond Inc Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $17.70B | 47.75 | 76.24% | ― | 7.64% | 369.79% | |
62 Neutral | $16.34B | 11.01 | -5.97% | 3.14% | 1.65% | -24.92% | |
52 Neutral | $364.53M | ― | -104.28% | ― | -20.34% | 43.05% | |
52 Neutral | $330.86M | ― | -135.29% | ― | -15.71% | 47.94% | |
48 Neutral | $778.38M | ― | -5.90% | ― | -2.37% | 95.07% | |
44 Neutral | $144.50M | ― | -27.52% | ― | -1.22% | 10.45% | |
40 Underperform | $398.00M | ― | -134.38% | ― | -23.23% | ― |
* Consumer Cyclical Sector Average
Performance Comparison
BYON
Beyond Inc
7.26
-5.16
-41.55%
JMIA
Jumia Technologies AG
3.37
-3.89
-53.58%
CHWY
Chewy
43.43
14.38
49.50%
CHPT
ChargePoint Holdings
0.75
-0.76
-50.33%
BARK
BARK Inc Class A
0.90
-0.90
-50.00%
WOOF
Petco Health and Wellness Company
2.79
-0.55
-16.47%
Beyond Inc Corporate Events
Executive/Board ChangesShareholder Meetings
Beyond Inc Approves Amendment to Equity Incentive Plan
Neutral
May 21, 2025
Beyond, Inc. held its annual meeting of stockholders on May 15, 2025, where several key proposals were voted upon. Notably, the stockholders approved an amendment to the company’s 2005 Equity Incentive Plan, allowing increased award limits for Executive Chairman Marcus A. Lemonis. This decision, made after the Board’s recommendation, reflects the company’s strategic focus on executive compensation and governance, potentially impacting its leadership dynamics and stakeholder relations.
The most recent analyst rating on (BYON) stock is a Hold with a $14.00 price target. To see the full list of analyst forecasts on Beyond Inc stock, see the BYON Stock Forecast page.
Private Placements and FinancingBusiness Operations and Strategy
Beyond Inc Expands Credit Facility with Kirkland’s
Positive
May 12, 2025
On May 7, 2025, Beyond, Inc. and Kirkland’s, Inc. entered into an Amended and Restated Term Loan Credit Agreement, expanding Beyond’s credit facility with Kirkland’s by $5.2 million. This agreement allows Beyond to convert outstanding loans into Kirkland’s common stock, subject to certain conditions, and aims to strengthen Kirkland’s financial position and support its store conversion strategy. Additionally, Beyond plans to purchase Kirkland’s trademarks, enhancing its brand portfolio, and has amended existing agreements to increase collaboration fees and update licensing terms. These strategic moves are expected to enrich Beyond’s intellectual property portfolio and unlock new revenue streams.
The most recent analyst rating on (BYON) stock is a Hold with a $14.00 price target. To see the full list of analyst forecasts on Beyond Inc stock, see the BYON Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.