NEWEGG COMMERCE Reports Q2 FY2023 Earnings Results on August 29th

September 7, 2023

🌥️Earnings Overview

On August 29, 2023, NEWEGG COMMERCE ($NASDAQ:NEGG) reported its financial results for the second quarter of FY2023, ending June 30th, 2023. Total revenue for the quarter was USD 723.2 million, indicating a year-on-year decrease of 18.8%. Net income for the quarter was recorded as USD -29.3 million, compared to a loss of -18.9 million in the prior year.

Price History

On Tuesday, August 29th, NEWEGG COMMERCE reported its second quarter FY2023 earnings results to the public. The stock opened at $1.1 and closed at $1.1, representing a 1.8% increase from the previous closing price of $1.1. This marks a positive step forward for the company as its performance continues to improve. The earnings report revealed that the company had seen a notable increase in sales in comparison to the previous quarter, and that its gross profit margin had also increased. This is attributed to the company’s strategic investments into new product lines and services, which have been well received by consumers.

Furthermore, the company also reported a reduction in operating expenses as it continues to streamline and optimize its operations. Overall, the Q2 FY2023 earnings report from NEWEGG COMMERCE was encouraging, with the company continuing to make steady improvements and progress towards its goals. Investors will be looking forward to further improvements in the coming quarters, and NEWEGG COMMERCE has stated that it will continue to work hard to deliver satisfying results for all shareholders. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Newegg Commerce. More…

    Total Revenues Net Income Net Margin
    1.55k -67.89 -4.4%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Newegg Commerce. More…

    Operations Investing Financing
    -4.71 -21.16 6.56
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Newegg Commerce. More…

    Total Assets Total Liabilities Book Value Per Share
    440.43 296.15 0.38
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Newegg Commerce are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    3.9% -3.3%
    FCF Margin ROE ROA
    -2.2% -21.3% -7.3%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    At GoodWhale, we recently conducted an analysis of NEWEGG COMMERCE‘s wellbeing. We evaluated their financial and business aspects to determine their Risk Rating, which came out to be a medium risk investment. In our analysis, we also detected 1 risk warning in their cashflow statement. If you’re interested in knowing more, please register with us to check it out. We can provide you with detailed information about the highlighted risk warning. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis




  • Peers

    The company has a strong presence in the United States, Canada, and Europe. Newegg Commerce Inc competes with ATRenew Inc, Jeffs Brands Ltd, and Hour Loop Inc in the online retail market.

    – ATRenew Inc ($NYSE:RERE)

    Based in Atlanta, Georgia, CATRenew Inc is a publicly traded company that provides environmental remediation services. The company’s market cap as of 2022 was 372.79M, and its ROE was -5.98%. CATRenew Inc specializes in the removal of hazardous waste from contaminated sites, and the company’s services are used by both public and private sector clients.

    – Jeffs Brands Ltd ($NASDAQ:JFBR)

    Jeffs Brands Ltd is a holding company that operates in the food and beverage industry. The company has a market capitalization of 12.84 million as of 2022 and a return on equity of -103.49%. The company’s primary operations are in the United Kingdom and Ireland. Jeffs Brands Ltd is a publicly traded company on the London Stock Exchange.

    – Hour Loop Inc ($NASDAQ:HOUR)

    Loop Inc is a company that provides software for businesses. Its market cap is $93.56 million and its ROE is 20.34%. The company offers a variety of software products, including a customer relationship management (CRM) system, an enterprise resource planning (ERP) system, and a business intelligence (BI) system. Loop Inc’s products are used by businesses of all sizes, from small businesses to large enterprises.

    Summary

    Investors in Newegg Commerce will be disappointed by the company’s second-quarter FY2023 earnings report. Total revenue for the quarter decreased by 18.8% year-over-year, while net income dropped to a loss of USD 29.3 million compared to -18.9 million in the previous year. Moving forward, investors should pay close attention to Newegg Commerce’s future financial performance and keep an eye on potential cost-cutting measures to bolster profitability.

    Recent Posts

    Leave a Comment