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Wayfair Announces Third Quarter 2024 Results, Reports Strong Profitability in Tandem with Further Market Share Gains

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Q3 Net Revenue of $2.9 billion with 21.7 million Active Customers

BOSTON, Nov. 1, 2024 /PRNewswire/ — Wayfair Inc. (“Wayfair,” “we,” or “our”) (NYSE: W), one of the world’s largest destinations for the home, today reported financial results for its third quarter ended September 30, 2024.

Third Quarter 2024 Financial Highlights

Total net revenue of $2.9 billion, decreased $60 million, down 2.0% year over yearU.S. net revenue of $2.5 billion, decreased $60 million, down 2.3% year over yearInternational net revenue of $372 million and International Net Revenue Constant Currency Growth remained constant year over yearGross profit was $873 million, or 30.3% of total net revenueNet loss was $74 million and Non-GAAP Adjusted EBITDA was $119 millionDiluted loss per share was $0.60 and Non-GAAP Adjusted Diluted Earnings Per Share was $0.22Net cash provided by operating activities was $49 million and Non-GAAP Free Cash Flow was ($9) millionCash, cash equivalents and short-term investments totaled $1.3 billion and total liquidity was $1.9 billion, including availability under our revolving credit facility

“Q3 marked another proofpoint of resilience for Wayfair with further market share capture in the face of sustained challenges in the category. Once again, we navigated a dynamic consumer environment while driving further discipline on costs to achieve a mid-single-digit Adjusted EBITDA margin for the second quarter in a row. As I’ve mentioned before, our north star is driving Adjusted EBITDA dollars in excess of equity-based compensation and capital expenditures, and we’re pleased to be making noteworthy improvements across each of these fronts,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair.

Shah continued, “We remain laser-focused on delivering healthy profitability while setting ourselves up for success as the category rebounds. The core goal across each of our initiatives in 2024 is to foster customer loyalty and spur repeat business while driving economic value. We’re not just aiming for short-term gains, but building long-lasting relationships with our customers that will be accretive on both the top and bottom lines.”

Other Third Quarter Highlights 

Active customers totaled 21.7 million as of September 30, 2024, a decrease of 2.7% year over yearLTM net revenue per active customer was $545 as of September 30, 2024, an increase of 1.3% year over yearOrders per customer, measured as LTM orders divided by active customers, was 1.85 for the third quarter of 2024, compared to 1.83 for the third quarter of 2023Orders delivered in the third quarter of 2024 were 9.3 million, a decrease of 6.1% year over yearRepeat customers placed 79.9% of total orders delivered in the third quarter of 2024, compared to 79.7% in the third quarter of 2023Repeat customers placed 7.4 million orders in the third quarter of 2024, a decrease of 6.3% year over yearAverage order value was $310 in the third quarter of 2024, compared to $297 in the third quarter of 202363.0% of total orders delivered were placed via a mobile device in the third quarter of 2024, compared to 61.7% in the third quarter of 2023

Key Financial Statement and Operating Metrics

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

(in millions, except LTM net revenue per active customer, average order value and per share data)

Key Financial Statement Metrics:

Net revenue

$                2,884

$                2,944

$                8,730

$                8,889

Gross profit

$                    873

$                    917

$                2,633

$                2,723

Loss from operations

$                    (74)

$                  (152)

$                 (344)

$                 (641)

Net loss

$                    (74)

$                  (163)

$                 (364)

$                 (564)

Loss per share:

Basic

$                 (0.60)

$                 (1.40)

$                (2.98)

$                (4.99)

Diluted

$                 (0.60)

$                 (1.40)

$                (2.98)

$                (4.99)

Net cash provided by operating activities

$                      49

$                    121

$                   155

$                   191

Key Operating Metrics:

Active customers (1)

22

22

22

22

LTM net revenue per active customer (2)

$                    545

$                    538

$                   545

$                   538

Orders delivered (3)

9

10

29

30

Average order value (4)

$                    310

$                    297

$                   303

$                   297

Non-GAAP Financial Measures:

Adjusted EBITDA

$                    119

$                    100

$                   357

$                   214

Free Cash Flow

$                      (9)

$                      42

$                   (19)

$                   (64)

Adjusted Diluted Earnings (Loss) per Share

$                   0.22

$                 (0.13)

$                  0.38

$                (1.02)

(1)

The number of active customers represents the total number of individual customers who have purchased at least once directly from our sites during the preceding twelve-month period. The change in active customers in a reported period captures both the inflow of new customers as well as the outflow of existing customers who have not made a purchase in the last twelve months. We view the number of active customers as a key indicator of our growth.

(2)

LTM net revenue per active customer represents our total net revenue in the last twelve months divided by our total number of active customers for the same preceding twelve-month period. We view LTM net revenue per active customer as a key indicator of our customers’ purchasing patterns, including their initial and repeat purchase behavior.

(3)

Orders delivered represent the total orders delivered in any period, inclusive of orders that may eventually be returned. As we ship a large volume of packages through multiple carriers, actual delivery dates may not always be available, and as such we estimate delivery dates based on historical data. We recognize net revenue when an order is delivered, and therefore orders delivered, together with average order value, is an indicator of the net revenue we expect to recognize in a given period. We view orders delivered as a key indicator of our growth.

(4)

We define average order value as total net revenue in a given period divided by the orders delivered in that period. We view average order value as a key indicator of the mix of products on our sites, the mix of offers and promotions and the purchasing behavior of our customers.

 

Webcast and Conference Call

Wayfair will host a conference call and webcast to discuss its third quarter 2024 financial results today at 8 a.m. (ET). Investors and participants should register for the call in advance by visiting https://bit.ly/3AjK2fc. After registering, instructions will be shared on how to join the call. The call will also be available via live webcast at https://bit.ly/4hfCcE7. An archive of the webcast conference call will be available shortly after the call ends on Wayfair’s Investor website at investor.wayfair.com. Important information may be disseminated initially or exclusively via the Investor website; investors should consult the site to access this information.

About Wayfair

Wayfair is the destination for all things home, and we make it easy to create a home that is just right for you. Whether you’re looking for that perfect piece or redesigning your entire space, Wayfair offers quality finds for every style and budget, and a seamless experience from inspiration to installation.

The Wayfair family of brands includes:

Wayfair: Every style. Every home.AllModern: All of modern made simple.Birch Lane: Classic style for joyful living.Joss & Main: The ultimate style edit for home.Perigold: The destination for luxury home.Wayfair Professional: A one-stop Pro shop.

Wayfair generated $11.8 billion in net revenue for the twelve months ended September 30, 2024 and is headquartered in Boston, Massachusetts with global operations.

Media Relations Contact:
Tara Lambropoulos
PR@wayfair.com

Investor Relations Contact:
James Lamb
IR@wayfair.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of federal and state securities laws. All statements other than statements of historical fact contained in this press release, including statements regarding our investment plans and anticipated returns on those investments, our future customer growth, our future results of operations and financial position, including our financial outlook, profitability goals, business strategy, plans and objectives of management for future operations, and, the impact of macroeconomic events and our response to such events, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “continues,” “could,” “intends,” “goals,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or the negative of these terms or other similar expressions.

Forward-looking statements are based on current expectations of future events. We cannot guarantee that any forward-looking statement will be accurate, although we believe that we have been reasonable in our expectations and assumptions. Investors should realize that if underlying assumptions prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections. Investors are therefore cautioned not to place undue reliance on any forward-looking statements. We believe that these risks and uncertainties include, but are not limited to, adverse macroeconomic conditions, including rising and fluctuating interest rates and inflation, slower growth or the potential for recession, disruptions in the global supply chain, conditions affecting the retail environment for products we sell, and other matters that influence consumer spending and preferences, as well as our ability to plan for and respond to the impact of these conditions; our ability to acquire and retain customers in a cost-effective manner; our ability to increase our net revenue per active customer; our ability to build and maintain strong brands; our ability to manage our growth and expansion initiatives; and our ability to expand our business and compete successfully. A further list and description of risks, uncertainties and other factors that could cause or contribute to differences in our future results include the cautionary statements herein and in our most recent Annual Report on Form 10-K and in our other filings and reports with the Securities and Exchange Commission. We qualify all of our forward-looking statements by these cautionary statements.

These forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events or otherwise.

 WAYFAIR INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited) 

September 30,

December 31,

2024

2023

(in millions, except share and per
share data)

Assets:

Current assets

Cash and cash equivalents

$                1,296

$                1,322

Short-term investments

32

29

Accounts receivable, net

155

140

Inventories

81

75

Prepaid expenses and other current assets

248

289

   Total current assets

1,812

1,855

Operating lease right-of-use assets

888

820

Property and equipment, net

658

748

Other non-current assets

56

51

   Total assets

$                3,414

$                3,474

Liabilities and Stockholders’ Deficit:

Current liabilities

Accounts payable

$                1,187

$                1,234

Other current liabilities

982

949

   Total current liabilities

2,169

2,183

Long-term debt

3,061

3,092

Operating lease liabilities, net of current

884

862

Other non-current liabilities

33

44

   Total liabilities

6,147

6,181

Stockholders’ deficit:

Convertible preferred stock, $0.001 par value per share: 10,000,000 shares authorized and
none issued at September 30, 2024 and December 31, 2023

Class A common stock, par value $0.001 per share, 500,000,000 shares authorized,
97,888,601 and 92,457,562 shares issued and outstanding at September 30, 2024 and
December 31, 2023, respectively

Class B common stock, par value $0.001 per share, 164,000,000 shares authorized,
25,691,295 shares issued and outstanding at September 30, 2024 and December 31, 2023

Additional paid-in capital

1,657

1,316

Accumulated deficit

(4,382)

(4,018)

Accumulated other comprehensive loss

(8)

(5)

   Total stockholders’ deficit

(2,733)

(2,707)

   Total liabilities and stockholders’ deficit

$                3,414

$                3,474

 

WAYFAIR INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

(in millions, except per share data)

Net revenue (1)

$                2,884

$                2,944

$                8,730

$                8,889

Cost of goods sold (2)

2,011

2,027

6,097

6,166

Gross profit

873

917

2,633

2,723

Operating expenses:

Customer service and merchant fees (2)

112

136

350

419

Advertising

354

337

1,043

1,016

Selling, operations, technology, general and administrative (2)

480

596

1,503

1,850

Impairment and other related net charges

1

2

14

Restructuring charges

79

65

Total operating expenses

947

1,069

2,977

3,364

Loss from operations

(74)

(152)

(344)

(641)

Interest expense, net

(5)

(5)

(15)

(15)

Other income (expense), net

8

(4)

3

(2)

Gain on debt extinguishment

100

Loss before income taxes

(71)

(161)

(356)

(558)

Provision for income taxes, net

3

2

8

6

Net loss

$                    (74)

$                  (163)

$                 (364)

$                 (564)

Loss per share:

Basic

$                 (0.60)

$                 (1.40)

$                (2.98)

$                (4.99)

Diluted

$                 (0.60)

$                 (1.40)

$                (2.98)

$                (4.99)

Weighted-average number of shares of common stock
outstanding used in computing per share amounts:

Basic

123

116

122

113

Diluted

123

116

122

113

(1) The following tables present net revenue attributable to our reportable segments for the periods indicated:

 

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

(in millions)

U.S. net revenue

$                2,512

$                2,572

$                7,633

$                7,772

International net revenue

372

372

1,097

1,117

Total net revenue

$                2,884

$                2,944

$                8,730

$                8,889

(2) Includes equity-based compensation and related taxes as follows:

 

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

(in millions)

Cost of goods sold

$                        2

$                        2

$                        8

$                        7

Customer service and merchant fees

4

7

15

23

Selling, operations, technology, general and administrative

92

137

300

434

Total equity-based compensation and related taxes

$                      98

$                    146

$                    323

$                    464

 

WAYFAIR INC. 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Nine Months Ended September 30,

2024

2023

(in millions)

Cash flows from operating activities:

Net loss

$                  (364)

$                  (564)

Adjustments to reconcile net loss to net cash provided by operating activities:

   Depreciation and amortization

297

312

   Equity-based compensation expense

309

447

   Amortization of discount and issuance costs on convertible notes

7

6

   Impairment and other related net charges

2

14

   Gain on debt extinguishment

(100)

   Other non-cash adjustments

(5)

   Changes in operating assets and liabilities:

Accounts receivable, net

(34)

140

Inventories

(7)

11

Prepaid expenses and other assets

3

19

Accounts payable and other liabilities

(53)

(94)

   Net cash provided by operating activities

155

191

Cash flows for investing activities:

Purchase of short- and long-term investments

(37)

(4)

Sale and maturities of short- and long-term investments

33

229

Purchase of property and equipment

(53)

(101)

Site and software development costs

(121)

(154)

   Net cash used in investing activities

(178)

(30)

Cash flows from financing activities:

Proceeds from issuance of convertible notes, net of issuance costs

678

Premiums paid for capped call confirmations

(87)

Payments to extinguish convertible debt

(514)

Other financing activities, net

3

   Net cash provided by financing activities

3

77

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(6)

3

Net (decrease) increase in cash, cash equivalents and restricted cash

(26)

241

Cash, cash equivalents and restricted cash

Beginning of period

$                1,326

$                1,050

End of period

$                1,300

$                1,291

 

Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements presented in accordance with generally accepted accounting principles (“GAAP”), this earnings release and the accompanying tables and the related earnings conference call contain certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Adjusted Diluted Earnings or Loss per Share and Net Revenue Constant Currency Growth. We use these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We have provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure in this earnings release.

We calculate Adjusted EBITDA as net income or loss before depreciation and amortization, equity-based compensation and related taxes, interest income or expense, net, other income or expense, net, provision or benefit for income taxes, net, non-recurring items and other items not indicative of our ongoing operating performance. Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by Net Revenue. We disclose Adjusted EBITDA because it is a key measure used by our management and board of directors to evaluate our operating performance, generate future operating plans and make strategic decisions regarding the allocation of capital. In particular, we believe the exclusion of certain expenses in calculating Adjusted EBITDA facilitates operating performance comparisons on a period-to-period basis as these costs may vary independent of business performance. For instance, we exclude the impact of equity-based compensation and related taxes as we do not consider this item to be indicative of our core operating performance. Investors should, however, understand that equity-based compensation and related taxes will be a significant recurring expense in our business and an important part of the compensation provided to our employees. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors.

We calculate Free Cash Flow as net cash provided by or used in operating activities less net cash used to purchase property and equipment and site and software development costs (collectively, “Capital Expenditures”). We disclose Free Cash Flow because it is an important indicator of our business performance as it measures the amount of cash we generate. Accordingly, we believe that Free Cash Flow provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management.

We calculate Adjusted Diluted Earnings or Loss per Share as net income or loss plus equity-based compensation and related taxes, provision or benefit for income taxes, net, non-recurring items, other items not indicative of our ongoing operating performance, and, if dilutive, interest expense associated with convertible debt instruments under the if-converted method divided by the weighted-average number of shares of common stock used in the computation of diluted earnings or loss per share. Accordingly, we believe that these adjustments to our adjusted diluted net income or loss before calculating per share amounts for all periods presented provide a more meaningful comparison between our operating results from period to period.

We calculate Net Revenue Constant Currency Growth by translating the current period local currency net revenue by the currency exchange rates used to translate the financial statements in the comparable prior-year period. We disclose Net Revenue Constant Currency Growth because it is an important indicator of our operating results. Accordingly, we believe that Net Revenue Constant Currency Growth provides useful information to investors and others in understanding and evaluating trends in our operating results in the same manner as our management.

We calculate forward-looking non-GAAP financial measures based on internal forecasts that omit certain amounts that would be included in forward-looking GAAP financial measures. We do not attempt to provide a reconciliation of forward-looking non-GAAP financial measures to forward looking GAAP financial measures because forecasting the timing or amount of items that have not yet occurred and are out of our control is inherently uncertain and unavailable without unreasonable efforts. Further, we believe that such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of financial performance.

The non-GAAP financial measures have limitations as analytical tools. We do not, nor do we suggest that investors should consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors should also note that the non-GAAP financial measures we use may not be the same non-GAAP financial measures and may not be calculated in the same manner as that of other companies, including other companies in our industry.

The following table reflects the reconciliation of net income or loss to Adjusted EBITDA and Adjusted EBITDA margin for each of the periods indicated:

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

(in millions)

Reconciliation of Adjusted EBITDA:

Net loss

$                (74)

$              (163)

$             (364)

$             (564)

Depreciation and amortization

94

106

297

312

Equity-based compensation and related taxes

98

146

323

464

Interest expense, net

5

5

15

15

Other (income) expense, net

(8)

4

(3)

2

Provision for income taxes, net

3

2

8

6

Other:

Impairment and other related net charges (1)

1

2

14

Restructuring charges (2)

79

65

Gain on debt extinguishment (3)

(100)

Adjusted EBITDA

$                119

$                100

$               357

$               214

Net revenue

$             2,884

$             2,944

$            8,730

$            8,889

Net loss margin

(2.6) %

(5.5) %

(4.2) %

(6.3) %

Adjusted EBITDA Margin

4.1 %

3.4 %

4.1 %

2.4 %

(1)

During the three and nine months ended September 30, 2024, we recorded charges of $1 million and $2 million, respectively, related to changes in sublease market conditions for U.S. office locations. During the nine months ended September 30, 2023, we recorded charges of $14 million, inclusive of $5 million related to consolidation of certain customer service centers and $9 million related to construction in progress assets at identified U.S. locations.

(2)

During the nine months ended September 30, 2024, we incurred $79 million of charges consisting primarily of one-time employee severance and benefit costs associated with the January 2024 workforce reductions. During the nine months ended September 30, 2023, we incurred $65 million of charges consisting primarily of one-time employee severance and benefit costs associated with the January 2023 workforce reductions.

(3)

During the nine months ended September 30, 2023, we recorded a $100 million gain on debt extinguishment upon repurchase of $83 million in aggregate principal amount of our 2024 Notes and $535 million in aggregate principal amount of our 2025 Notes.

 

The following table presents Adjusted EBITDA attributable to our segments, and the reconciliation of net income or loss to Adjusted EBITDA is presented in the preceding table:

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

(in millions)

Segment Adjusted EBITDA:

U.S.

$                    141

$                    123

$                   461

$                   313

International

(22)

(23)

(104)

(99)

Adjusted EBITDA

$                    119

$                    100

$                   357

$                   214

 

The following table presents a reconciliation of net cash provided by or used in operating activities to Free Cash Flow for each of the periods indicated:

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

(in millions)

Net cash provided by operating activities

$                      49

$                    121

$                    155

$                    191

Purchase of property and equipment

(17)

(30)

(53)

(101)

Site and software development costs

(41)

(49)

(121)

(154)

Free Cash Flow

$                      (9)

$                      42

$                    (19)

$                    (64)

 

A reconciliation of the numerator and denominator for diluted earnings or loss per share, the most directly comparable GAAP financial measure, to the numerator and denominator for Adjusted Diluted Earnings or Loss per Share, in order to calculate Adjusted Diluted Earnings or Loss per Share is as follows:

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

(in millions, except per share data)

Numerator:

Numerator for basic and diluted loss per share – net loss

$                    (74)

$                  (163)

$                 (364)

$                 (564)

Adjustments to net loss

Equity-based compensation and related taxes

98

146

323

464

Provision for income taxes, net

3

2

8

6

Other:

Impairment and other related net charges

1

2

14

Restructuring charges

79

65

Gain on debt extinguishment

(100)

Numerator for Adjusted Diluted Earnings (Loss) per Share –
Adjusted net income (loss)

$                      28

$                    (15)

$                     48

$                 (115)

Denominator:

Denominator for basic and diluted loss per share –
weighted-average number of shares of common stock outstanding

123

116

122

113

Adjustments to effect of dilutive securities:

Restricted stock units

1

Denominator for Adjusted Diluted Earnings (Loss) per
Share – Adjusted weighted-average number of shares of
common stock outstanding after the effect of dilutive securities

123

116

123

113

Diluted Loss per Share

$                 (0.60)

$                 (1.40)

$                (2.98)

$                (4.99)

Adjusted Diluted Earnings (Loss) per Share

$                   0.22

$                 (0.13)

$                  0.38

$                (1.02)

 

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SOURCE Wayfair Inc.

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TeacherLists is Clearing Teachers’ Classroom Wish Lists Every Day in November

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TeacherLists is teaming up with their brand partners to award one teacher per day with a $125 gift card to the retailer of their choice to help clear their classroom wish list.

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To enter, teachers should visit TeacherLists Clear the List Sweepstakes, where they will be prompted to enter their email, zip code, and school. Please note teachers should include their wish list. Winners will be chosen at random and announced daily on Facebook and Instagram. NO PURCHASE NECESSARY

About TeacherLists and School Family Media. LLC 
TeacherLists is the single national source of verified school supply lists. TeacherLists makes it easy for school administrators and teachers to enter, update, and share their supply lists. Busy families love the convenience of easily finding and shopping their child’s classroom-specific lists. TeacherLists partners with major retailers including Walmart, Target, Amazon, Staples, Office Depot, Office Max, HEB, Walgreens, and Meijer to offer shopping online, in-store, or both, giving families options to shop the way that works for them.   

School Family Media is changing how schools and families prepare for back-to-school. Our nationally recognized platforms, TeacherLists, EduKit, and PTO Today, simplify back-to-school for schools, teachers, volunteers, and especially parents. As a mission-driven company, our goal is to make life easier for school communities and help ensure students are prepared to learn.

For more information and official rules, visit Clear the List Official Rules

Media Contact

Elizabeth Lamport, TeacherLists, 8006443561, elamport@schoolfamilymedia.com, TeacherLists.com

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SOURCE TeacherLists

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Technology

NexaMotion Group Pilots AI-Powered Catalog Assistant for Faster Parts Quoting and Enhanced Business Efficiency

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CLEVELAND, Nov. 1, 2024 /PRNewswire/ — NexaMotion Group (NMG) announced the pilot of a new AI-powered, text-generated parts lookup tool. Currently in beta testing, this cutting-edge catalog assistant will be available for demo and a first look during AAPEX 2024, Nov. 5-7 in Las Vegas. This groundbreaking AI-powered catalog assistant is the first of its kind in the aftermarket industry, transforming how shops manage customer quotes and demonstrating NMG’s commitment to simplifying complex vehicle repair.

Repair shops can have a text conversation with our AI-powered catalog assistant, which utilizes the Transend automotive parts catalog to generate the right parts for the vehicles on your lift. The catalog assistant helps our sales team provide immediate real-time responses with essential details like availability at your local branch and competitive pricing. This lets users receive quotes at their convenience instead of during set customer service hours and receive those quotes in less time for enhanced business efficiency.

“NexaMotion Group is committed to bringing advanced, forward-thinking solutions to automotive parts ordering and repairs. Our team can’t wait to introduce the catalog assistant at AAPEX and show customers the significant benefit it can provide to their business,” said Neil Sethi, CEO of NexaMotion Group.

To demo the catalog assistant, stop by the NMG booth during AAPEX (#A2261) or visit https://resources.transend.us/ai-powered-catalog-assistant to express interest in participating in the beta testing of the system.

About NexaMotion Group
NexaMotion Group’s mission is to simplify complex vehicle repair to keep the world moving. NexaMotion Group helps automotive professionals shift into high gear with next-level solutions and innovation. Backed by 49 years at the forefront of the aftermarket industry, NexaMotion Group combines the power of strong connections and readily available supplies with over 100 locations. Learn more at https://www.nexamotiongroup.com/

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SOURCE NexaMotion Group

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Fosi Audio Launches the ZD3 Flagship Fully Balanced Desktop DAC: A Gift for Its 7th Anniversary

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NEW YORK, Nov. 1, 2024 /PRNewswire/ — Fosi Audio, a leading brand in the HiFi audio field, has focused on the “voice of the customer” as its core driving force since its founding seven years ago. Through co-creation with its users, Fosi Audio has launched a series of audio products beloved by audiophiles worldwide, such as the ZA3 and V3 Mono mini amplifiers. With a user-centered development philosophy, compact and refined design style, and exceptional value, Fosi Audio is driving innovation and transformation in the HiFi audio industry.

ZD3 DAC: A 7th Anniversary Tribute

In response to the growing demand for a more refined listening experience, Fosi Audio has launched its flagship product, the ZD3 fully balanced desktop DAC. This new product is not only an important milestone for Fosi Audio in expanding its audio product category, but also a sincere gift to customers on the occasion of the brand’s 7th anniversary.

The ZD3 perfectly blends high performance and exquisite design. Equipped with top-tier chips (including XMOS XU316, ESS9039Q2M, QCC3031, and LME49720) and advanced balanced circuit technology, it ensures pure and transparent audio output. In terms of appearance, the ZD3 inherits the elegant design language of the ZA3, featuring geometric elements and color accents that exude a sophisticated and professional vibe. The product supports five digital input options and offers both single-ended and balanced outputs, providing flexibility for various usage scenarios. In terms of sound quality, the ZD3 brings every note to life and offers audiophiles an unprecedented listening experience.

Global Attention and Industry Acclaim

Since its launch, the ZD3 has received widespread acclaim for its exceptional sound quality and versatility. During the pre-sale period, the product sold over 1,000 units, with orders from over 100 countries, demonstrating the strong market demand for this flagship product.

The launch of the ZD3 has attracted significant attention from the industry. Renowned audio reviewers and influencers such as Cheapaudioman, Z Reviews, A British Audiophile, and Toids DIY Audio have conducted in-depth reviews and reports on the ZD3. User Mariusz Stark commented, “Great looks, great value, great sound. Add linear power supply. Swap op-amps for Sparkos. Add supper capacitor power bank and elevate performance to new levels. ARC HDMI is unheard of in this price range and a welcomed feature for many.” The success of the ZD3 highlights Fosi Audio’s outstanding R&D capabilities and once again validates the value of deep co-creation between the brand and its users.

Limited-Time Offer: Unlock Your Personalized Audio Experience

The ZD3 is now available on major online shopping platforms with a limited-time discount. During the launch period, each user will receive three JRC4580D op-amps as a gift, allowing them to explore different sound signatures brought by various op-amps and further customize their listening experience.

Brand Vision: Building a Global Audio Ecosystem

Ryan Huang, founder of Fosi Audio, stated that the brand is committed to providing high-quality audio solutions for global users, continuously innovating products, and enhancing user experience. Through close interaction with global audiophiles, Fosi Audio is building a vibrant audio ecosystem with the goal of becoming a world-leading audio brand.

About Fosi Audio

Driven by its mission of “Redefining HiFi with Unmatched Value”, Fosi Audio is dedicated to developing and delivering amazing HiFi gear with innovative designs, cutting-edge technology, high value, and premium quality, all backed by a 24-month warranty for audio enthusiasts worldwide. Fosi Audio has earned the sincere recognition of many audiophiles and well-known media, such as Wirecutter, How-to Geek, TNT-Audio, Headphonesty, and authoritative forums like Audio Science Review, as well as renowned HiFi audio influencers around the world.

For more information, please visit:

Official Website: https://www.fosiaudio.com/

Official Facebook community: https://www.facebook.com/fosiaudioglobal

Official YouTube channel: https://www.youtube.com/@fosiaudio

PR contact:

Email: marketing@fosiaudio.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/fosi-audio-launches-the-zd3-flagship-fully-balanced-desktop-dac-a-gift-for-its-7th-anniversary-302293922.html

SOURCE FOSI INTERNATIONAL CO., LIMITED

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