NEGG

MKT CAP:$810M

Newegg Commerce, Inc.

Market Cap

$810M

Consumer Cyclical·Specialty Retail·🇺🇸 United States·NASDAQ

Consumer Cyc.·Specialty Retail·🇺🇸·NASDAQ

Stock Price

$40.83-$11.46 (-21.92%)

Apr 24, 2026

Company Details

Newegg Commerce, Inc. operates as an electronics-focused e-retailer in North America. The company offers desktops, laptops, gaming laptops, peripherals, and accessories; CPU/processors, graphic cards, motherboards, storage devices, and comp...

CEO

Anthony K. Chow

IPO Date

Apr 22, 2010

Website

www.newegg.com

Key Metrics TTM

Revenue

$1.3B

-5.7% YoY

Net Income

-$23M

EPS (Diluted)

-$1.16

Free Cash Flow

$9M

Revenue / Share

$67.34

Gross Margin

11.3%

Operating Margin

-2.2%

Net Margin

-1.7%

FCF Margin

0.7%

P/S

0.6x

P/E

—

Earnings Reports

Q2 2025

Aug 21, 2025

$348M+12.5%EPS -$0.11

Q1 2025

Apr 28, 2025

$348M+12.5%EPS -$0.11

FY 2024

Apr 28, 2025

$1.2B-17.5%EPS -$2.25

Q4 2024

Apr 28, 2025

$309M-32.3%EPS -$0.47

Q3 2024

Sep 30, 2024

$309M-2.8%EPS -$0.47

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$541M	$80M	$8M
Q4 21	$628M	$79M	$3M
Q1 22	$445M	$55M	-$14M
Q2 22	$445M	$55M	-$14M
Q3 22	$349M	$46M	-$13M
Q4 22	$481M	$60M	-$8M
Q1 23	$362M	$41M	-$17M
Q2 23	$362M	$41M	-$17M
Q3 23	$318M	$37M	-$19M
Q4 23	$456M	$49M	-$18M
Q1 24	$309M	$32M	-$15M
Q2 24	$309M	$32M	-$15M
Q3 24	$309M	$34M	-$11M
Q4 24	$309M	$34M	-$11M
Q1 25	$348M	$40M	-$4M
Q2 25	$348M	$40M	-$4M

Valuation

Quarter	P/S	P/E
Q3 21	2.5x	173.2x
Q4 21	1.7x	110.1x
Q1 22	1.2x	171.3x
Q2 22	0.8x	—
Q3 22	0.4x	—
Q4 22	0.3x	—
Q1 23	0.3x	—
Q2 23	0.3x	—
Q3 23	0.2x	—
Q4 23	0.3x	—
Q1 24	0.2x	—
Q2 24	0.2x	—
Q3 24	0.2x	—
Q4 24	0.1x	—
Q1 25	0.1x	—
Q2 25	0.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$4M	-$8M
Q4 21	-$13M	-$17M
Q1 22	-$25M	-$28M
Q2 22	-$25M	-$28M
Q3 22	$28M	$26M
Q4 22	$42M	$41M
Q1 23	-$37M	-$51M
Q2 23	-$37M	-$51M
Q3 23	$20M	$18M
Q4 23	$51M	$50M
Q1 24	-$32M	-$32M
Q2 24	-$32M	-$32M
Q3 24	$31M	$30M
Q4 24	$31M	$30M
Q1 25	-$25M	-$26M
Q2 25	-$25M	-$26M

Capital Expenditures

Quarter	CapEx
Q3 21	$4M
Q4 21	$4M
Q1 22	$3M
Q2 22	$3M
Q3 22	$3M
Q4 22	$580.0K
Q1 23	$13M
Q2 23	$13M
Q3 23	$2M
Q4 23	$2M
Q1 24	$606.0K
Q2 24	$606.0K
Q3 24	$1M
Q4 24	$1M
Q1 25	$624.0K
Q2 25	$624.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-2.4%	-3.0%
Q4 21	-10.0%	-10.3%
Q1 22	-26.2%	-22.4%
Q2 22	-26.2%	-22.4%
Q3 22	-35.4%	-32.0%
Q4 22	-23.5%	-21.9%
Q1 23	-18.8%	-17.5%
Q2 23	-18.8%	-17.5%
Q3 23	-9.0%	-7.2%
Q4 23	-5.1%	-3.0%
Q1 24	-14.5%	-14.5%
Q2 24	-14.5%	-14.5%
Q3 24	-2.8%	-5.0%
Q4 24	-32.3%	-32.6%
Q1 25	+12.5%	+8.5%
Q2 25	+12.5%	+8.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$798.0K	0.1%
Q4 21	$4M	0.6%
Q1 22	$8M	1.8%
Q2 22	$8M	1.8%
Q3 22	$8M	2.4%
Q4 22	$10M	2.0%
Q1 23	$9M	2.5%
Q2 23	$9M	2.5%
Q3 23	$8M	2.5%
Q4 23	$8M	1.7%
Q1 24	$8M	2.4%
Q2 24	$8M	2.4%
Q3 24	$6M	2.0%
Q4 24	$6M	2.0%
Q1 25	$6M	1.7%
Q2 25	$6M	1.7%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q3 21	$60M	$9M	—
Q4 21	$1M	$75M	—
Q1 22	$65M	$4M	—
Q2 22	$65M	$4M	—
Q3 22	$53M	$3M	—
Q4 22	$65M	$3M	—
Q1 23	—	—	$58M
Q2 23	—	—	$58M
Q3 23	—	—	$56M
Q4 23	$51M	$13M	—
Q1 24	—	—	$47M
Q2 24	—	—	$47M
Q3 24	$38M	$7M	—
Q4 24	$38M	$7M	—
Q1 25	—	—	$44M
Q2 25	—	—	$44M

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 21	$114M	$0	$114M
Q4 21	$100M	$0	$100M
Q1 22	$70M	$0	$70M
Q2 22	$70M	$0	$70M
Q3 22	$82M	$0	$82M
Q4 22	$123M	$0	$123M
Q1 23	$52M	$0	$52M
Q2 23	$52M	$0	$52M
Q3 23	$54M	$0	$54M
Q4 23	$103M	$0	$103M
Q1 24	$50M	$0	$50M
Q2 24	$50M	$0	$50M
Q3 24	$96M	$0	$96M
Q4 24	$96M	$0	$96M
Q1 25	$59M	$0	$59M
Q2 25	$59M	$0	$59M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	22M	+2.0%	+3.1%
Q4 21	21M	-3.9%	+5.2%
Q1 22	19M	-11.1%	-12.8%
Q2 22	19M	0.0%	-12.8%
Q3 22	19M	+0.8%	-13.8%
Q4 22	19M	-0.3%	-10.6%
Q1 23	19M	+1.6%	+2.1%
Q2 23	19M	0.0%	+2.1%
Q3 23	19M	+0.3%	+1.6%
Q4 23	19M	+0.1%	+2.0%
Q1 24	19M	+2.0%	+2.3%
Q2 24	19M	0.0%	+2.3%
Q3 24	19M	+0.4%	+2.5%
Q4 24	19M	0.0%	+2.4%
Q1 25	19M	+0.1%	+0.5%
Q2 25	19M	0.0%	+0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$90M	6
Q4 21	$285.0K	2K
Q1 22	$201.9K	2K
Q2 22	$201.9K	2K
Q3 22	$158.3K	2K
Q4 22	$354.7K	1K
Q1 23	$266.9K	1K
Q2 23	$266.9K	1K
Q3 23	$234.4K	1K
Q4 23	$489.4K	932
Q1 24	$331.6K	932
Q2 24	$331.6K	932
Q3 24	$331.3K	932
Q4 24	$405.2K	762
Q1 25	$456.5K	762
Q2 25	$456.5K	762

Revenue / Employee