QUARTERLY RESULTS OF OPERATIONS (unaudited)

The following tables set forth our unaudited quarterly results of operations data for the eight most recent quarters for the period ended December 31, 2019. We have prepared this information on the same basis as the consolidated statements of operations and the information includes all adjustments that we consider necessary for a fair statement of its financial position and operating results for the quarters presented.



	Three Months Ended
	March 31, 2019			June 30, 2019			September 30, 2019			December 31, 2019
	(in thousands, except per share data)
Consolidated Statement of Operations Data:
Revenue, net
Retail	$	362,625		$	367,475		$	340,798		$	364,076
Other	5,104			6,234			6,301			6,805
Total net revenue	367,729			373,709			347,099			370,881
Cost of goods sold
Retail	290,640			294,984			272,545			288,856
Other	3,965			4,826			5,006			5,503
Total cost of goods sold	294,605			299,810			277,551			294,359
Gross profit	73,124			73,899			69,548			76,522
Operating expenses:
Sales and marketing	33,477			34,560			34,215			40,868
Technology	35,433			33,153			32,782			33,970
General and administrative	40,232			31,964			32,681			33,247
Total operating expenses	109,142			99,677			99,678			108,085
Operating loss	(36,018		)	(25,778		)	(30,130		)	(31,563		)
Interest income	403			630			449			315
Interest expense	(127		)	(105		)	(57		)	(53		)
Other income (expense), net	(6,272		)	(2,995		)	(4,781		)	1,547
Loss before income taxes	(42,014		)	(28,248		)	(34,519		)	(29,754		)
Provision (benefit) for income taxes	878			(622		)	23			(94		)
Net loss	(42,892		)	(27,626		)	(34,542		)	(29,660		)
Less: Net loss attributable to noncontrolling interests	(3,648		)	(2,945		)	(3,604		)	(2,682		)
Net loss attributable to stockholders of Overstock.com, Inc.	$	(39,244	)	$	(24,681	)	$	(30,938	)	$	(26,978	)
Net loss per common share—basic:
Net loss attributable to common shares—basic	$	(1.18	)	$	(0.69	)	$	(0.89	)	$	(0.73	)
Weighted average common shares outstanding—basic	32,370			35,225			35,241			36,573
Net loss per common share—diluted:
Net loss attributable to common shares—diluted	$	(1.18	)	$	(0.69	)	$	(0.89	)	$	(0.73	)
Weighted average common shares outstanding—diluted	32,370			35,225			35,241			36,573



	Three Months Ended
	March 31, 2018			June 30, 2018			September 30, 2018			December 31, 2018
	(in thousands, except per share data)
Consolidated Statement of Operations Data:
Revenue, net
Retail	$	439,996		$	477,683		$	435,775		$	446,733
Other	5,335			5,450			4,805			5,815
Total net revenue	445,331			483,133			440,580			452,548
Cost of goods sold
Retail	347,580			387,252			350,651			366,712
Other	3,882			4,138			3,213			4,256
Total cost of goods sold	351,462			391,390			353,864			370,968
Gross profit	93,869			91,743			86,716			81,580
Operating expenses:
Sales and marketing	77,214			94,416			55,312			47,537
Technology	31,294			32,423			33,880			34,557
General and administrative	39,755			31,440			45,356			47,930
Total operating expenses	148,263			158,279			134,548			130,024
Operating loss	(54,394		)	(66,536		)	(47,832		)	(48,444		)
Interest income	544			620			383			661
Interest expense	(874		)	(395		)	(101		)	(98		)
Other income (expense), net	(9		)	368			(1,848		)	(1,999		)
Loss before income taxes	(54,733		)	(65,943		)	(49,398		)	(49,880		)
Benefit for income taxes	(277		)	(27		)	(141		)	(1,939		)
Net loss	(54,456		)	(65,916		)	(49,257		)	(47,941		)
Less: Net loss attributable to noncontrolling interests	(3,547		)	(1,005		)	(1,334		)	(5,614		)
Net loss attributable to stockholders of Overstock.com, Inc.	$	(50,909	)	$	(64,911	)	$	(47,923	)	$	(42,327	)
Net loss per common share—basic:
Net loss attributable to common shares—basic	$	(1.74	)	$	(2.20	)	$	(1.55	)	$	(1.39	)
Weighted average common shares outstanding—basic	28,566			28,903			30,279			32,112
Net loss per common share—diluted:
Net loss attributable to common shares—diluted	$	(1.74	)	$	(2.20	)	$	(1.55	)	$	(1.39	)
Weighted average common shares outstanding—diluted	28,566			28,903			30,279			32,112