Beyond, Inc. (BYON) Files Q3 2024 10-Q
Ticker: BBBY-WT · Form: 10-Q · Filed: Oct 25, 2024 · CIK: 1130713
Sentiment: neutral
Topics: 10-Q, retail, financials, rebranding
Related Tickers: BYON
TL;DR
BYON filed its Q3 10-Q. Check financials for the period ending 9/30/24.
AI Summary
Beyond, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Overstock.com, Inc., operates in the retail catalog and mail-order houses sector. The filing covers the third quarter of 2024 and provides financial details for the nine months ended September 30, 2024.
Why It Matters
This filing provides investors with the latest financial performance and operational details for Beyond, Inc. (formerly Overstock.com) as of the end of the third quarter of 2024.
Risk Assessment
Risk Level: medium — The company has undergone a name change from Overstock.com, Inc., which may indicate strategic shifts or rebranding efforts that carry inherent business risks.
Key Numbers
- Q3 2024 — Reporting Period (The filing covers the third quarter of 2024.)
- Nine months ended September 30, 2024 — Year-to-Date Period (Financials for the first nine months of 2024 are detailed.)
Key Players & Entities
- Beyond, Inc. (company) — Filer
- Overstock.com, Inc. (company) — Former company name
- 20240930 (date) — Period of report
- 20241025 (date) — Filing date
FAQ
What is the primary business of Beyond, Inc.?
Beyond, Inc. operates in the RETAIL-CATALOG & MAIL-ORDER HOUSES sector, with SIC code 5961.
When was the company formerly known as Overstock.com, Inc.?
The company was formerly known as Overstock.com, Inc., with a date of name change noted as 20060203.
What is the fiscal year end for Beyond, Inc.?
The fiscal year end for Beyond, Inc. is December 31.
In which state was Beyond, Inc. incorporated?
Beyond, Inc. was incorporated in Delaware (DE).
What is the SEC file number for Beyond, Inc.'s 10-Q filing?
The SEC file number for this filing is 001-41850.
Filing Stats: 4,606 words · 18 min read · ~15 pages · Grade level 19.1 · Accepted 2024-10-25 16:12:49
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 October 18, 2
Filing Documents
- byon-20240930.htm (10-Q) — 1029KB
- byon-20240930xexx311.htm (EX-31.1) — 12KB
- byon-20240930xexx312.htm (EX-31.2) — 12KB
- byon-20240930xexx321.htm (EX-32.1) — 6KB
- byon-20240930xexx322.htm (EX-32.2) — 6KB
- 0001130713-24-000075.txt ( ) — 6248KB
- byon-20240930.xsd (EX-101.SCH) — 51KB
- byon-20240930_cal.xml (EX-101.CAL) — 60KB
- byon-20240930_def.xml (EX-101.DEF) — 203KB
- byon-20240930_lab.xml (EX-101.LAB) — 638KB
- byon-20240930_pre.xml (EX-101.PRE) — 424KB
- byon-20240930_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 24
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 34
Controls and Procedures
Item 4. Controls and Procedures 35
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 36
Risk Factors
Item 1A. Risk Factors 36
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 38
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 38
Other Information
Item 5. Other Information 38
Exhibits
Item 6. Exhibits 39
Signatures
Signatures 40 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 inability to compete succe
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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 140,371 $ 302,605 Restricted cash 1,126 144 Accounts receivable, net of allowance for credit losses of $ 1,789 and $ 1,298 15,027 19,420 Inventories 11,058 13,040 Prepaids and other current assets 15,500 14,864 Total current assets 183,082 350,073 Property and equipment, net 27,211 27,577 Intangible assets, net 30,509 25,254 Goodwill 6,160 6,160 Equity securities, including securities measured at fair value of $ 21,500 and $ 41,046 112,468 155,873 Operating lease right-of-use assets 1,957 3,468 Other long-term assets, net 13,928 12,951 Property and equipment, net held for sale 53,023 54,462 Total assets $ 428,338 $ 635,818 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 87,962 $ 106,070 Accrued liabilities 54,321 73,682 Unearned revenue 44,949 49,597 Operating lease liabilities, current 1,807 2,814 Current debt, net held for sale — 232 Total current liabilities 189,039 232,395 Operating lease liabilities, non-current 355 940 Other long-term liabilities 8,519 9,107 Long-term debt, net held for sale 34,232 34,244 Total liabilities 232,145 276,686 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) September 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 - 52,299 and 51,770 Outstanding shares - 45,817 and 45,414 5 5 Additional paid-in capital 1,025,505 1,007,649 Accumulated deficit ( 65