Westwing Group (WEW) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 12.5% YoY to €111.4m and GMV increased 7% to €123m, marking a fifth consecutive growth quarter.

• Adjusted EBITDA increased 7.1% YoY to €6.5m, while its margin declined 0.3pp to 5.8%; logistics costs and UK ramp-up weighed on contribution margin.

Financial highlights

• Q3 net income was €4.6m versus a €3.8m loss YoY; operating result was €4.7m versus a €3.9m loss.

• 9M revenue rose 12.6% to €344.6m; adjusted EBITDA was €21.5m versus €21.4m.

• Q3 free cash flow was -€0.7m versus €10.4m; 9M free cash flow was -€12.1m, including €10.1m of stock-option settlements.

Outlook and guidance

• FY2026 revenue guidance remains €470m–€495m, with revenue expected in the upper half; adjusted EBITDA guidance remains €36m–€48m, equivalent to a 7.7%–9.7% margin.

• Selective price increases, higher shipping fees and logistics efficiency measures showed tangible margin improvement in October; full impact is expected in Q4.

• Phase III targets adjusted EBITDA margin above 10% through efficiency, core and adjacent growth, and financial levers.