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.