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Newegg FY23 Revenue $1.5B Vs $1.72B YoY; Average Order Value Was $379 In FY23 Vs $411 In FY22

Benzinga ·  Apr 24 21:04

2023 Fiscal Year Financial Highlights

  • Net sales decreased to $1.50 billion, compared to net sales of $1.72 billion in fiscal year 2022.
  • GMV decreased to $1.81 billion, compared to GMV of $2.20 billion in fiscal year 2022.
  • Gross profit decreased to $167.6 million, compared to gross profit of $216.7 million in fiscal year 2022.
  • Net loss increased to $59.0 million, compared to net loss of $57.4 million in fiscal year 2022.
  • Adjusted EBITDA decreased to ($21.3) million, compared to Adjusted EBITDA of $0.6 million in fiscal year 2022.

2023 Fiscal Year Operational Metrics

  • Average order value was $379 for the year ended December 31, 2023, compared to $411 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 2.5 million as of December 31, 2023, a decrease from 2.7 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 29.2% as of December 31, 2023, compared to 31.3% for the prior year.
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