Beyond Inc. revenue in its fiscal Q2 increased 22% compared to Q1 2025; however, it decreased 29.1% year over year.
In the retailer’s earnings call with investors, Marcus Lemonis, executive chairman and principal executive officer, referred back to a point he made a year and a half ago: “It will take a while to really figure out directionally and strategically how to extract the most amount of value out of this company.”
What Beyond knows, he said, is that it has to ensure its core ecommerce operations deliver positive cash flow rather than being the “reason that the company is burning cash.”
Beyond Inc. ranks No. 73 in the Top 2000 Database. The Digital Commerce 360 database ranks North America’s largest online retailers by their annual ecommerce sales.
A new look for the Overstock brand
Among the ways it plans to improve its ecommerce operations is through reviving its Overstock brand. It “abandoned” the brand, Lemonis told investors, but has brought it back in a way where it continues to see daily, weekly and monthly improvements. It has begun selling luxury handbags and shoes to separate itself from the Bed Bath & Beyond brand, which seeks to focus on value-oriented consumers.
And in the next phase of Overstock’s revival, Lemonis said, Beyond will be leaning into the brand’s historical revenue drivers, which include rugs and other living room items.
“When we think about price points, Overstock is going to traditionally, going forward, lean more into a slightly higher, more affluent customer who’s looking for big brands at great values as opposed to a good, better, best, proper assortment at Bed Bath & Beyond built on both life events and furniture, patio and rug at all price points,” Lemonis told investors. “Overstock is going to have a very acute focus.”
Additionally, Overstock will continue with what Lemonis called its “halo effect around how it handles liquidations for companies and how it deals with distressed inventory. That will always be a core part of the business. And you should expect partnerships to continue to develop with national liquidators as they use and utilize the Overstock brand.”
Overstock Inc. changed its corporate name to Beyond Inc. in November 2023, shortly after acquiring the Bed Bath & Beyond brand and its associated intellectual property in June that year. Now, Beyond owns retail brands Bed Bath & Beyond, Overstock and Buy Buy Baby, and it has invested in Kirkland’s. It also owns a blockchain asset portfolio. In March, Beyond sold a major stake in Zulily to Lyons Trading Company.
Beyond revenue in Q2
In Q2, Beyond revenue decreased to $282.25 million. That’s down 29.1% year over year from $398.10 million.
However, Q2 revenue at Beyond improved 22% over Q1. And in Q1, Beyond revenue had decreased 39.4% year over year, to $232 million from $383 million.
President and chief financial officer Adrianne Lee attributed Beyond’s improvement over Q1 to seasonal average order value (AOV) improvement and the number of orders it delivered. AOV increased $25, while delivered orders grew 8%.
Beyond has also launched tokenizations for both its Overstock and Buy Buy Baby brands. The respective digital tokens entitle owners to a piece of the subsidiary brands’ intellectual property.
“We are really a split personality business,” Lemonis said. “We operate a core ecommerce business, but we have a goal and a desire to continue to deploy capital intelligently in the blockchain, Bitcoin and the whole crypto space when we see investment opportunities that can be wildly accretive for our business.”
He said shareholders can expect Beyond to “park a certain amount of cash in Bitcoin — a bit of a Bitcoin reserve.”
Ecommerce upgrades at Beyond
“We made significant progress on stabilizing the business and getting back to our ecommerce fundamentals, providing an improved assortment, competitive and engaging promotions, all while improving our site experience,” Lee said.
Chief operating officer Alex Thomas said Beyond has enhanced customer experience through:
- Upgrades in search and navigation
- Continuing to remove unfavorable product listings
- Executing engaging, seasonally relevant promotions across all channels
Additionally, Beyond focused on creating shopping experiences around relevant themes, including flash price drops, back-to-school and luxury home, he said.
“We progressed our efforts to simplify and unify our tech stack, which will drive cost efficiency and feature development speed in the back half of ’25 and 2026,” Thomas said.
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