NEGGNasdaqRetail-Retail Stores, NECUS GAAP · USD

Newegg Commerce, Inc.

Newegg Commerce, Inc. operates a digital commerce platform focused on PC hardware, consumer electronics, gaming peripherals, home appliances, automotive products, and lifestyle technology. Founded in 2001 and headquartered in Diamond Bar, California, the company serves consumers globally through its online retail and marketplace platforms and provides businesses with e-commerce, logistics, marketing, and technical services.

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Revenue1,444m USD
Operating profit (EBIT)-9.5m USD
+81.5 %y/y
EBIT margin-0.7%
Net income-4.9m USD
+88.7 %y/y
Free cash flow-29.7m USD
−568.3 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-50005001,0001,5002,0002,500m USD2020: 0.36 m USD2020: EBIT -3.0 m USD20202021: 2,376 m USD2021: EBIT 34 m USD20212022: 1,720 m USD2022: EBIT -50 m USD20222023: EBIT -71 m USD20232024: EBIT -52 m USD20242025: 1,444 m USD2025: EBIT -9.5 m USD20251,444-9.5
RevenueOperating profit (EBIT)
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Business

Share of revenue
PC hardware45 %

Computer components, memory, systems and accessories sold to builders, enthusiasts and businesses.

Consumer electronics and gaming25 %

Electronics, gaming peripherals and related technology products sold through Newegg channels.

Home, automotive and lifestyle technology15 %

Home appliances, automotive products and other technology-oriented lifestyle goods.

Marketplace services8 %

Third-party marketplace access, seller services and transaction-related offerings.

Partner and advertising services7 %

Logistics, shipped-by-Newegg, supply-chain, marketing, technical and media advertising services.

Products

Reported · share of revenue
66.6%21.5%FY2025100 %
  • Components Storage66.6 %
  • Computer Equipment21.5 %
  • Software Development4.4 %
  • Office Equipment4.1 %
  • Networking Smart Home2.5 %
  • Others0.8 %

Source: 20-F FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Newegg serves individual technology shoppers, PC builders, gamers, enthusiasts and small businesses seeking specialized hardware and electronics. Its Marketplace also connects third-party sellers with online buyers, while Newegg Partner Services supports merchants and brands with fulfillment, logistics, marketing and technical capabilities. Business customers use the platform to reach technology-focused demand and outsource parts of their e-commerce operations.

PC builders and enthusiasts

Buy components, memory and systems for custom builds, upgrades and specialized computing.

Gamers

Purchase gaming hardware, peripherals and related consumer technology through Newegg channels.

General technology consumers

Buy consumer electronics, appliances, automotive products and lifestyle technology online.

Business customers and brands

Use product sourcing, e-commerce, logistics, marketing, advertising and technical services.

Marketplace sellers

Use Newegg Marketplace and partner services to reach buyers and support order fulfillment.

Strategy

Newegg’s strategy combines specialization in enthusiast-oriented technology categories with expansion of marketplace and partner-service capabilities. Current priorities include improving product availability and bundling in constrained PC categories, expanding community and brand initiatives, and applying artificial intelligence to shopping and internal operations. These initiatives are intended to deepen customer engagement, improve merchandising and strengthen the platform’s value to vendors and sellers.

PC category availability and merchandisingShort term

Reliable supply and product bundling support customer conversion in core hardware categories.

AI-enabled commerceMedium term

Conversational shopping can improve product discovery and technical guidance for complex purchases.

Community and brand engagementMedium term

Stronger relationships with builders, gamers, schools and vendors can support customer retention and brand relevance.

Platform services expansionLong term

Marketplace, fulfillment, advertising and technical services diversify the online retail model.

Geography

2025

Newegg is headquartered near Los Angeles in the United States and operates a global online retail and marketplace platform. Its business includes sales made through Asia subsidiaries in addition to activity on its websites and third-party marketplace platforms. The available reports do not provide country-level revenue percentages, so geographic revenue concentration cannot be quantified from the supplied information.

United States93 %
Canada6.7 %
Other countries (US filing)0.7 %

Share of the revenue the company reports by geography.

Risks

Newegg’s business is exposed to volatile technology demand, product pricing pressure, inventory availability and the rapid obsolescence of hardware and electronics. Its marketplace and partner-services model also creates execution, seller-quality, fulfillment and counterparty risks, while international operations add logistics and regulatory complexity. Reported results can be affected by inventory provisions, returns, credit losses and the mix between direct sales and service fees.

Sorted by severity
Supply constraints in PC componentsHigh

Shortages can prevent Newegg from meeting demand and may require higher-cost procurement or substitution.

Exposure: Memory and other constrained PC categories

Inventory obsolescence and excess stockHigh

Rapid product cycles can reduce recoverable value and require provisions for obsolete inventory.

ExposurePC hardwareElectronicsGaming products
Competitive online retail pricingHigh

Price comparison and industry-wide discounting can pressure conversion economics and product profitability.

Exposure: Consumer electronics and PC hardware

Marketplace seller and fulfillment executionMedium

Third-party sellers and logistics partners can affect product quality, delivery reliability and customer satisfaction.

ExposureNewegg Marketplace3PLSBN
Returns and customer credit exposureMedium

Returns, cancellations and expected credit losses reduce realized sales and can increase operating costs.

Exposure: Direct sales and marketplace transactions

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Accounting

Judgemental items
GMV versus reported revenue

GMV includes direct sales, marketplace activity, partner-service fees and Asia subsidiary sales, so it is broader than revenue.

Impact: Investors must reconcile GMV trends with GAAP revenue and recognize differences in transaction presentation.

Revenue deductions and transaction timing

Returns, discounts, taxes and cancellations are deducted in the company’s GMV definition and can affect realized sales.

Impact: Changes in return or cancellation rates can alter net revenue and customer-acquisition economics.

Inventory obsolescence provisions

Fast product cycles and pricing changes can reduce the recoverable value of hardware and electronics.

Impact: Provisions lower inventory and increase cost of sales or operating expenses.

Expected credit losses

Receivables from customers, sellers or related parties require estimates of collectability.

Impact: Changes in loss allowances affect earnings and the carrying value of receivables.

Adjusted EBITDA reconciliation

Newegg excludes stock compensation, depreciation, interest, taxes, warrant changes and other items from adjusted EBITDA.

Impact: Comparisons should use GAAP results alongside the non-GAAP measure.

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Last updated: 08/09/2026