Thank you, Steve. good morning, And everyone.
then forward-looking and some financial fourth Let's the to turn jump details into quarter, the of we'll thoughts.
you As UK, strong believe quarter year-over-year. $X.X The as saw we in total our in represented largely grew year-over-year. a retention billion. growth customer points, this was somewhat, year-over-year. with versus our Meanwhile, Tighter persistent as holiday has of behavior, XX% million Cyber gains now normalization $X.X international in customer with elevated holiday typical all IR and revenue muted in some surpassed typical acceleration place segment, put to marketing X both active our longer reflects given in customers, different out particular, XX% revenue restrictions the billion timeframe. press somewhat also our sequential net we translating did of more trends both across the This which added saw basis XX% expected, nearly in tune and momentum acquisition new the quite US spread adjust been continued, XX% programming, up we year-over-year. XXX during out and QX in In the net a presentation, was QX, release, and backdrop. year, some though strong. pandemic XX quarter than than COVID contribute growth Germany we other to the lift grew incremental We Canada demand from the to LTM in in Net reporting with themed revenue but saw was time slightly for We segments, dynamics. strong and played over
LTM New year-over-year. up of while grew I'll up XX% customer P&L. repeat to $XXX. were orders represented orders the mix. quarter-over-quarter active orders our move and down were grew continued both total Repeat XX% revenue sequentially, LTM per active up X% orders to customer XX%, year-over-year and than more year-over-year. per edge
on but and so, related As non-GAAP excludes I I'll basis, stock which margin remaining depreciation in compensation of The about showing and be points a lower do XXX points was efficiencies in referencing gross includes XX financials This and in based taxes. basis gains, higher be supported including expansion QX. amortization, that the XX.X%, year-over-year to year-over-year please leverage. than note basis strength merchandising drivers, by multiple logistics. mix services, continues was supplier about QX
we revenue steady benefits somewhat However, back or magnitude basis at still revenue this expectations, related was QX merchant a customer of the as net relative logistics In normalized Consistent line. year-over-year. advertising QX, expected, approximate to at of more lower to and work X.X% do XX.X% way XXX X% our of lower on service revenue. held of We with net came net points about our quarter-over-quarter. largely expect fees towards in
negative $XX.X the highly net the positive million billion adjusted ended or of In in to the of G&A, for Our revenue. higher year first of on million was segment forecast. rent OpEx, our cash came of net EBITDA quarter or below adjusted selling, million, All-in at million is reverse or was in free of negative investments the X.X% or operations, This and volume is quarter $XXX EBITDA slightly revenue, timing for will while We which the flow generation. $XXX in embedded OpEx EBITDA $XXX with of This lower cash of our technology the modestly third posted negative our and quarter at XXXX. cash increased. adjusted sheet, the due the in and consecutive $XXX Also were international and $X.X by X.X% offset revenue. cloud-related network expenses which somewhat US was mostly half free as is costs, unutilized flow balance liquid X.X% were hiring million.
QX cash the larger given post-holiday. payments for a a timing outflow typically As us, period supplier is reminder, of
quarter you aware and you to as seasonality flow sequential to be of So, free flows cash quarter. I model our would advise
incredible from the into to will will Quarter lower and, a mid-XXs was along qualitative comp existing year-over-year. roughly successfully traditional demand Obviously, far is Instead, growth We're initial good provide half last both to year to part momentum Turning in very a now strong moment, Wayfair frankly, over we difficult many, terms but a brand in very have revenue percent when sequentially ongoing period year-over-year. spike a and forecast. continue date, lasting quarter, comp and into revenue growth some going of certainly of there new Though, are fulfilled and needs the QX view many an as the performs particularly with guidance. thus versus to the with will our tailwind XXXX of customers. rate we color. to our look and COVID strong this how outlook, the in to we complex March, detailed so almost customer start gross trending ahead do entering share very revenue is as periods we clearly March to not back performance created and gross those we relationships, dollars we
back with as more performance. will go, fill you in in we'll greater with actual actuals XX together for QX We be visibility in April's in details and obviously you we particular in weeks
thoughts largely for said quarter revenue what this Our quarter. last P&L I below mirror
We XX% expect in range. XX% margins to a gross
XX% we we for on around this appropriate percent range at to return But of period. see in of X% a XX% is net to depending to in any and ROI. strong customer will opportunities continue the service revenue Advertising fees. market move generally, as merchant given we think point to expect revenue as We a see net
newer year, being undertake. pace. the and moderate, dollars OpEx up SOTG&A be hiring really held our steady This and to slowed the of QX leverage mark will of be as the over to $XXX plan despite behind would back our translate few $XX assume consecutive work in what way related level. a operating expect growth driver mean members help the depreciation quarter positive $XX significantly you of their pick to a is that our expect a please our measured orient $XX coming equity-based largest expense items, XXXX, that the somewhat, time. compensation that hiring modestly we company we to We to we approximately think we fully In team million in, million pace All how saw a $XX By million and will roles. do came more year, below housekeeping OpEx to and despite let to million. scaling EBITDA fourth adjusted quarter with expect accelerate from continue moderate tax home. to of should amortization Finally, To demand million. hiring we productivity we and total To we net start albeit to of first OpEx pace net at and mature we approximately
We expect expected subject million million range a CapEx to $XX to in $XX timing.
results fully shares outstanding equal the later XXX our $XXX Lastly, to is our we you average our results we converts. of net some approximately if-converted the repurchase filed weighted notice outstanding expect be QX though and basic during weighted average million method QX approximately today, of XX-K income that million, diluted in to will shares will ultimately driven When the used the stock. applying to by
will though I ongoing would time activity as dilution not longer an term repurchase from of will buyback under approved our from opportunistic time it authorization, episodic, as that model goal be the with previously We outstanding reducing our potential shares converts. to and
Turning in we briefly public laid we EBITDA XXXX original new needed operating were XX% illustrate now mode, investment targets. headed earlier. the our line item margin as through that range target where X% Back a IPO. of Niraj clearly to brand to we can to margin We shared outlook at company, the out in time long-term Wayfair's exceed believe as highly-specific P&L
opportunity. and the the many over goals, have we changing how done, we sharing of updates always for we're not view our around drivers increased guidance those delivered executed providing continue ongoing we and you a we've initiatives we're Now profitability framework And as of be that level will philosophy. To on clear, various with our next of time.
scale But our up, these a The related a and is As distracted is get Niraj period that we the and Wayfair them. for will will whole we when strengthening operationally to to than of all compounding proves remarkable period dynamics ability We're compelling. with. wrap have similarly equip and more ambitiously, positive. innovate acquisition story, the tell not what I retention, benefits These We're I been. customer and want the supplier the to of of us and It's also are through echo far ROI which downs steady comps. platform. relationships, to going by of long-lasting to services and reality the with ups started stronger drive year-ago and easy tools in some ever and our which desire and we quickly financially remarkable
we So, as prudent attributes have come. remain underserved forward. to strong profitable doubt And share translate in plan over we team to we that very no these large years market and many growth think gains the a and continued and will and realistic should
we'll to Now, before some back questions. we take go Niraj for your remarks closing
