Read How Newegg Commerce Fared In 1H Amid Macro-Economic Challenges

by Shivani Kumaresan, Benzinga Staff Writer

September 2, 2022 11:29 AM | 1 min read | Make a Comment

Newegg Commerce Inc NEGG reported first-half 2022 net sales of $890.5 million.
The company posted a 1H gross profit of $110.8 million, a net loss of $(18.9) million, and an adjusted EBITDA loss of $(4.0) million.
Newegg sees Q3 sales of $358.8 million - $383.3 million.
NEGG expects Q3 gross profit of $42 million - $45 million and adjusted EBITDA of $(1.7) million - $0.1 million.
"As with many in our industry, our performance for the first half of 2022 was affected by several factors that were out of our control including macroeconomic conditions, higher inflation, and a weak sales environment due to changes in customer spending behavior," said CEO Anthony Chow.
Price Action: NEGG shares are trading lower by 0.56% at $3.72 on the last check Friday.