Temple & Webster smashed revenue records with $665 million, up 11%, but profits nosedived 62% to just $4.3 million—despite more customers and bigger orders. Sluggish consumer spending, high interest rates, and a shaky housing market are squeezing wallets. Revenue has already dropped 13% this year. Yet, the company is doubling down on AI to cut costs and personalize shopping, aiming for double-digit growth. Stock tumbled 18% to a three-year low, but leadership sees huge potential in home improvement and New Zealand, believing they’ve only scratched the surface of a $40 billion market—with plenty of room to grow.
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