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Newegg Announces Fiscal Year 2024 Results

DIAMOND BAR, Calif.--(BUSINESS WIRE)-- Newegg Commerce, Inc. (NASDAQ: NEGG), a leading global technology e-commerce retailer, today announced results for the fiscal year ended December 31, 2024.

Newegg Chief Executive Officer Anthony Chow announced, 鈥�2024 was a year defined by operational discipline and strategic focus. Throughout the year, we executed a broad range of SG&A reduction initiatives, including warehouse consolidation, subleasing unused property, and aligning our workforce to match business needs. These actions improved our bottom line, strengthened our foundation, and we believe position us for future growth. Notably, we closed the year with a strong fourth-quarter performance. Sales momentum accelerated, driven by a month-long Black Friday campaign that delivered impressive results, highlighting the effectiveness of our promotional strategy and our ability to drive engagement and conversion in a highly competitive environment. Through the first quarter of 2025, we have continued to experience positive momentum from new product launches, including the launch of NVIDIA GeForce 50 Series GPUs, AMD Radeon 9000 Series GPUs, and the latest high-end AMD Ryzen CPUs, resulting in double digit GMV growth in direct and marketplace sales on a year-over-year basis. We are also exploring new opportunities in the business-to-business software as a service space, expanding our offerings beyond traditional e-commerce and placing greater emphasis on high-growth categories such as gaming notebooks and desktops, which are experiencing a notable surge in demand. Additionally, while we鈥檝e benefited from a pull forward in sales due to tariff warnings, we are actively monitoring the impact to sales on a post-tariff basis and are working closely with our partners to optimize under current conditions. As we move forward, we are focused on expanding our presence in the AI PC and high-performance PC segments, while forming new strategic partnerships to unlock the next phase of innovation and customer value.鈥�

Newegg Chief Accounting Officer Christina Ching noted, 鈥淲e are pleased to report significant progress following the implementation of various cost optimization measures throughout 2023 and 2024, including our real estate consolidation efforts. These actions have resulted in a notable reduction in SG&A expenses, which is reflected in our improved Adjusted EBITDA. We have also maintained a strong focus on efficient inventory management, leading to a decrease in inventory from $136.2 million as of December 31, 2023 to $98.5 million as of December 31, 2024. This reduction was largely driven by a strong sales surge during the Black Friday and Christmas holiday sales periods. We have already seen the increased demand that began with the holiday season carry over into the first quarter of 2025, driven by several new product launches. This increase in sales, combined with our SG&A reduction efforts, has begun to result in positive profitability momentum, with our Adjusted EBITDA notably moving to the positive in Q1 2025. However, a key challenge for the remainder of 2025 will be the impact of tariff policy on consumer confidence and purchasing behavior. As a result of this uncertainty, we are not prepared to deliver full year 2025 guidance at this time. As of December 31, 2024, our $50 million credit facility remained fully undrawn. Additionally, we effected a twenty-to-one share combination on April 7, 2025 in order to regain compliance with Nasdaq鈥檚 minimum bid price requirement, which we achieved on April 22, 2025.鈥�

2024 Fiscal Year Financial Highlights

• Net sales decreased to $1.24 billion, compared to net sales of $1.50 billion in fiscal year 2023.

• GMV decreased to $1.53 billion, compared to GMV of $1.81 billion in fiscal year 2023.

• Gross profit decreased to $131.5 million, compared to gross profit of $167.6 million in fiscal year 2023.

• Net loss decreased to $43.3 million, compared to net loss of $59.0 million in fiscal year 2023.

• Adjusted EBITDA was ($9.5) million, compared to Adjusted EBITDA of $(21.3) million in fiscal year 2023.

2024 Fiscal Year Operational Metrics

• Average order value was $396 for the year ended December 31, 2024, compared to $379 for the prior year.

• Active customers, defined as unique customer IDs with at least one item purchased on Newegg platforms in the past 12 months, totaled approximately 2.1 million as of December 31, 2024, a decrease from 2.5 million the prior year.

• Repeat purchase rate, the percentage of active customers who made at least two purchases on Newegg platforms during the past 12 months, was 26.0% as of December 31, 2024, compared to 29.2% for the prior year.

The Company anticipates filing its annual report on Form 20-F for the fiscal year ended December 31, 2024, on April 28, 2025.

About Newegg

Newegg Commerce, Inc. (NASDAQ: NEGG), founded in 2001 and based in Diamond Bar, Calif., near Los Angeles, is a leading global online retailer for PC hardware, consumer electronics, gaming peripherals, home appliances, automotive and lifestyle technology. Newegg also serves businesses鈥� e-commerce needs with marketing, supply chain, and technical solutions in a single platform. For more information, please visit .

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Non-GAAP Financial Information

This press release presents certain 鈥渘on-GAAP鈥� financial measures. The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in the United States of America (鈥淕AAP鈥�). A reconciliation of non-GAAP financial measures used in this press release to their nearest comparable GAAP financial measures is included in the schedules attached hereto.

GMV

The Company defines gross merchandise value, or GMV, as the total dollar value of products sold on its websites and third-party marketplace platforms, directly to customers and by its Marketplace sellers through Newegg Marketplace, net of returns, discounts, taxes, and cancellations. GMV also includes the services fees charged through its Newegg Partner Services (鈥淣PS鈥�) in rendering services for its third-party logistics (鈥�3PL鈥�), shipped-by-Newegg (鈥淪BN鈥�), staffing and media ad services, as well as the sales made by its Asia subsidiaries.

Adjusted EBITDA

Newegg calculates Adjusted EBITDA as net income/loss, excluding stock-based compensation expense, depreciation and amortization expense, interest income, net, income tax (benefit) provision, gain/loss from warrant liabilities, gain/loss from fixed assets disposal, and gain/loss from sales of investment.

Newegg believes that exclusion of certain expenses in calculating Adjusted EBITDA facilitates operating performance comparisons on a period-to-period basis and excludes items that it does not consider to be indicative of its core operating performance. Accordingly, Newegg believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors.

Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of Newegg鈥檚 results as reported under GAAP. Some of these limitations are: although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; Adjusted EBITDA does not reflect changes in, or cash requirements for, the working capital needs; Adjusted EBITDA does not consider the potentially dilutive impact of stock-based compensation; Adjusted EBITDA does not reflect tax payments that may represent reduction in cash available to Newegg; and other companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure. Because of these limitations, you should consider Adjusted EBITDA alongside other financial performance measures, including various cash flow metrics, operating profit and Newegg鈥檚 other GAAP results.

Cautionary Statement Concerning Forward-Looking Statements

This news release includes 鈥渇orward-looking statements鈥� within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinion, belief or forecasts of future events and performance, including those relating to future impacts of tariff policy on consumer confidence and purchasing behavior, and the filing date of Newegg鈥檚 annual report on Form 20-F for the fiscal year ended December 31, 2024. Words such as 鈥渨ill,鈥� 鈥渕ay,鈥� 鈥渆xpects,鈥� 鈥減rojects,鈥� 鈥渁nticipates,鈥� 鈥減lans,鈥� 鈥渂elieves,鈥� 鈥渆stimate,鈥� 鈥渟hould,鈥� and variations of such words or similar expressions are intended to identify such forward-looking statements. In addition, any statements other than statements of historical fact are forward-looking statements. Although Newegg believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. The Company鈥檚 SEC filings are available at .

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Source: Newegg Commerce Inc.