$NEGG

Newegg Commerce, Inc.

CIK:0001474627|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Net sales	$ 1,444,468	$ 1,235,576	$ 1,496,963
Cost of sales	1,276,006	1,104,088	1,329,406
Gross profit	168,462	131,488	167,557
Selling, general, and administrative expenses	178,009	183,039	238,641
Loss from operations	(9,547)	(51,551)	(71,084)
Interest income	2,325	2,721	2,348
Interest expense	(1,009)	(952)	(2,541)
Other income, net	5,353	3,557	2,770
Gain from sales of investment		1,619	6,835
Loss before provision for income taxes	(2,878)	(44,606)	(61,672)
Provision for (benefit from) income taxes	2,003	(1,278)	(2,682)
Net loss	$ (4,881)	$ (43,328)	$ (58,990)
Basic loss per share (in Dollars per share)	$ (0.24)	$ (2.25)	$ (3.12)
Diluted loss per share (in Dollars per share)	$ (0.24)	$ (2.25)	$ (3.12)
Weighted average shares used in computation of loss per share:
Basic (in Shares)	20,114	19,285	18,928
Diluted (in Shares)	20,114	19,285	18,928

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (4,881)	$ (43,328)	$ (58,990)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	7,591	10,703	13,437
Allowance for expected credit losses	133	1,208	245
Provision for obsolete and excess inventory	3,752	3,846	3,400
Stock-based compensation	21,659	27,255	33,660
Gain from sales of investment		(1,619)	(6,835)
Loss (gain) on disposal of property and equipment	(619)	600	180
Unrealized loss on marketable securities		5	4
Deferred income taxes	472	726	(679)
Changes in operating assets and liabilities:
Accounts receivable	2,269	14,473	2,758
Inventories	(70,947)	32,882	16,781
Prepaid expenses	(4,083)	(850)	3,583
Other assets	10,402	17,416	7,086
Accounts payable	11,610	(57,403)	(898)
Accrued liabilities and other liabilities	(4,353)	(8,369)	(12,074)
Deferred revenue	22	1,634	(5,497)
Net cash used in operating activities	(26,973)	(821)	(3,839)
Cash flows from investing activities:
Payments to acquire property and equipment	(2,691)	(3,618)	(30,265)
Proceeds on disposal of property and equipment	2,796	2,194	176
Proceeds from sale of investment		3,869	15,835
Net cash provided by (used in) investing activities	105	2,445	(14,254)
Cash flows from financing activities:
Borrowings under line of credit	12,073	72,479	66,502
Repayments under line of credit	(13,133)	(72,474)	(65,098)
Repayments of long-term debt		(1,325)	(264)
Proceeds from exercise of stock options	3,734	113	1,194
Payments for employee taxes related to stock compensation	(2,298)	(1,343)	(774)
Repurchase and retirement of common stock		(3,503)
Proceeds from issuance of common stock under at-the-market offering, net of issuance costs	35,201
Net cash provided by (used in) financing activities	35,577	(6,053)	1,560
Foreign currency effect on cash, cash equivalents and restricted cash	197	(2,303)	(499)
Net increase (decrease) in cash, cash equivalents and restricted cash	8,906	(6,732)	(17,032)
Cash, cash equivalents and restricted cash:
Beginning of period	99,742	106,474	123,506
End of period	108,648	99,742	106,474
Supplemental disclosures of cash flow information:
Cash paid for interest	1,058	1,404	1,265
Cash paid for income taxes	379	223	342
Supplemental schedule of noncash investing activities
Cashless exercise of stock options		9,667
ROU assets exchanged for lease liabilities	$ 3,953	$ 69	$ 18,861

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 107,798	$ 96,255
Restricted cash	850	3,487
Accounts receivable, net	62,449	64,363
Inventories, net	166,262	98,537
Income taxes receivable	2	2,452
Prepaid expenses	18,337	14,222
Other current assets	4,910	4,329
Total current assets	360,608	283,645
Property and equipment, net	45,008	51,175
Deferred tax assets, net	442	914
Operating lease right-of-use assets	51,963	60,636
Other noncurrent assets	10,886	10,951
Total assets	468,907	407,321
Current liabilities:
Accounts payable	160,252	148,279
Accrued liabilities	49,320	48,629
Deferred revenue	27,146	26,988
Line of credit	6,276	7,069
Lease liabilities – current	13,518	12,608
Total current liabilities	256,512	243,573
Income taxes payable	2,533	1,871
Lease liabilities – noncurrent	43,456	53,318
Other liabilities	5,698	2,467
Total liabilities	308,199	301,229
Commitments and contingencies (Note 14)
Stockholders’ Equity
Common Stock, $0.43696 par value; unlimited shares authorized; 20,973 and 19,478 shares issued and outstanding as of December 31, 2025 and 2024, respectively	9,165	8,512
Additional paid-in capital	346,739	289,096
Notes receivable – related party	(15,189)	(15,189)
Accumulated other comprehensive loss	(1,099)	(2,300)
Accumulated deficit	(178,908)	(174,027)
Total stockholders’ equity	160,708	106,092
Total liabilities and stockholders’ equity	$ 468,907	$ 407,321