Beyond, Inc. Files Q2 2024 10-Q
Ticker: BBBY-WT · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 1130713
Sentiment: neutral
Topics: 10-Q, financials, retail
TL;DR
Beyond, Inc. (formerly Overstock) filed its Q2 2024 10-Q. Check financials.
AI Summary
Beyond, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Overstock.com, Inc., is incorporated in Delaware and headquartered in Midvale, Utah. This filing covers the second quarter of 2024, with financial data reported in USD.
Why It Matters
This filing provides investors with the latest financial performance and operational details for Beyond, Inc. during the second quarter of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Numbers
- 20240630 — Reporting Period End (This is the end date for the financial reporting period covered by the 10-Q.)
- 20240731 — Filing Date (This is the date the 10-Q was officially filed with the SEC.)
Key Players & Entities
- BEYOND, INC. (company) — Filer
- OVERSTOCK.COM, INC (company) — Former company name
- 8019473100 (dollar_amount) — Business phone number
- 20240630 (date) — Reporting period end date
FAQ
What is the primary business of Beyond, Inc.?
Beyond, Inc. is classified under 'RETAIL-CATALOG & MAIL-ORDER HOUSES' with SIC code 5961.
When was Beyond, Inc. formerly known as Overstock.com, Inc.?
The company changed its name from Overstock.com, Inc. on February 3, 2006.
What is the fiscal year end for Beyond, Inc.?
The fiscal year end for Beyond, Inc. is December 31.
What is the SEC file number for Beyond, Inc.?
The SEC file number for Beyond, Inc. is 001-41850.
Where is Beyond, Inc. headquartered?
Beyond, Inc. is headquartered in Midvale, Utah, with the business address at 799 W. COLISEUM WAY.
Filing Stats: 4,636 words · 19 min read · ~15 pages · Grade level 19.4 · Accepted 2024-07-30 20:54:14
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 par value BYON New York Stock Exchange
- $0 — he registrant's common stock, par value $0.0001, were outstanding on July 26, 2024
Filing Documents
- byon-20240630.htm (10-Q) — 1017KB
- byon-20240630xexx103.htm (EX-10.3) — 63KB
- byon-20240630xexx104.htm (EX-10.4) — 47KB
- byon-20240630xexx311.htm (EX-31.1) — 12KB
- byon-20240630xexx312.htm (EX-31.2) — 12KB
- byon-20240630xexx321.htm (EX-32.1) — 6KB
- byon-20240630xexx322.htm (EX-32.2) — 6KB
- 0001130713-24-000057.txt ( ) — 6138KB
- byon-20240630.xsd (EX-101.SCH) — 45KB
- byon-20240630_cal.xml (EX-101.CAL) — 60KB
- byon-20240630_def.xml (EX-101.DEF) — 174KB
- byon-20240630_lab.xml (EX-101.LAB) — 590KB
- byon-20240630_pre.xml (EX-101.PRE) — 392KB
- byon-20240630_htm.xml (XML) — 771KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 5 Consolidated Balance Sheets 5 Consolidated Statements of Operations 7 Consolidated Statements of Comprehensive Loss 8 Consolidated Statements of Changes in Stockholders' Equity 9 Consolidated Statements of Cash Flows 10 Notes to Unaudited Consolidated Financial Statements 11
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 33
Controls and Procedures
Item 4. Controls and Procedures 34
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 35
Risk Factors
Item 1A. Risk Factors 35
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 36
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 36
Other Information
Item 5. Other Information 37
Exhibits
Item 6. Exhibits 38 Signature 39 2 Table of Contents SPECIAL CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q and any documents incorporated herein by reference, and our other public documents and statements our officers and representatives may make from time to time, contain forward-looking statements within the meaning of the federal securities laws. We intend for these statements to be entitled to the protection of the safe harbor provisions of these laws. You can find many of these statements by looking for words such as "may," "would," "could," "should," "will," "expect," "anticipate," "predict," "project," "potential," "continue," "contemplate," "seek," "assume," "believe," "intend," "plan," "forecast," "goal," "estimate," or other similar expressions which identify these forward-looking statements. These forward-looking statements involve risks and uncertainties and relate to future events or our future financial or operating performance. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry and business, and on management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, you are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to assumptions, risks, uncertainties, and other important factors that are difficult to predict, and that actual results and outcomes may be materially different from the results or outcomes expressed or implied by any of our forward-looking statements for a variety of reasons, including among others: any difficulties we may encounter as a result of our reliance on third-parties that we do not control for the performance of critical functions material to our business, such as carriers, fulfillment partners, and SaaS/IaaS providers; any inab
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS (UNAUDITED)
ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) Beyond, Inc. Consolidated Balance Sheets (Unaudited) (in thousands, except per share data) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 186,174 $ 302,605 Restricted cash 168 144 Accounts receivable, net of allowance for credit losses of $ 1,414 and $ 1,298 18,694 19,420 Inventories 12,099 13,040 Prepaids and other current assets 15,071 14,864 Total current assets 232,206 350,073 Property and equipment, net 27,864 27,577 Intangible assets, net 30,918 25,254 Goodwill 6,160 6,160 Equity securities, including securities measured at fair value of $ 32,328 and $ 41,046 129,667 155,873 Operating lease right-of-use assets 2,950 3,468 Other long-term assets, net 12,551 12,951 Property and equipment, net held for sale 54,466 54,462 Total assets $ 496,782 $ 635,818 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 91,210 $ 106,070 Accrued liabilities 61,306 73,682 Unearned revenue 47,806 49,597 Operating lease liabilities, current 2,723 2,814 Current debt, net held for sale — 232 Total current liabilities 203,045 232,395 Operating lease liabilities, non-current 425 940 Other long-term liabilities 8,738 9,107 Long-term debt, net held for sale 34,220 34,244 Total liabilities 246,428 276,686 Commitments and contingencies (Note 10) Continued on the following page See accompanying notes to unaudited consolidated financial statements. 5 Table of Contents Beyond, Inc. Consolidated Balance Sheets (Unaudited) (in thousands, except per share data) June 30, 2024 December 31, 2023 Stockholders' equity: Preferred stock, $ 0.0001 par value, authorized shares - 5,000 , issued and outstanding - none — — Common stock, $ 0.0001 par value, authorized shares - 100,000 Issued shares - 52,230 and 51,770 Outstanding shares - 45,750 and 45,414 5 5 Additional paid-in capital 1,018,619 1,007,649 Accumulated deficit ( 598,177 ) ( 48