Beyond reports Q4 non-GAAP EPS (91c), consensus (75c)

Reports Q4 revenue $303M, consensus $337.96M. Executive Chairman Marcus Lemonis commented, “We are exceeding our previously announced targets of margin improvement and fixed cost reductions, improved site experience, and the elimination of poor performing SKUs/vendors, which are all leading to our primary goal of making money. We will continue to make calibrated decisions to reset the base of the company and build a profitable foundation. We are excited by the progress we have made since November 1st and are further encouraged by the sequential improvements that have continued through February. While there is still much work to do, we will continue to make the necessary difficult decisions, leverage technology innovation and utilize our resources and partnerships to create a solid foundation that we believe will deliver profitability and growth.” CFO Adrianne Lee commented, “It’s vital for the company to re-establish the discipline we expect of profitable commerce, and the sequential improvement in gross margin and reduced fixed costs delivered in Q4 was encouraging. Q4 net loss was driven by almost $50M of non-cash charges, primarily from non-core business activities, and $6M of non-recurring items. Adjusted EBITDA loss of $28M was a 43% improvement year-over year driven by a 380 basis point gross margin expansion, and we ended the year with a healthy cash and restricted cash balance of $186M.”