Newegg Commerce (NEGG) H2 2025 earnings summary

Executive summary

• Achieved double-digit year-over-year GMV growth, driven by strong demand for next-gen PC components and successful product launches, including NVIDIA GeForce 50 and AMD Radeon 9000 GPUs.

• Expanded direct and marketplace businesses, supported by proactive inventory planning and successful promotional campaigns, notably a month-long Black Friday event.

• Continued investment in brand development, focusing on gaming and enthusiast communities, and prepared for integration of AI-driven commerce capabilities.

Financial highlights

• Net sales increased 16.9% year-over-year to $1.44 billion in 2025, up from $1.24 billion in 2024.

• GMV rose 15.4% to $1.77 billion, compared to $1.53 billion in 2024.

• Gross profit grew to $168.5 million from $131.5 million year-over-year.

• Net loss narrowed significantly to $4.9 million, compared to $43.3 million in 2024.

• Adjusted EBITDA improved to $24.8 million, versus a loss of $9.5 million in 2024.

Outlook and guidance

• 2026 net sales expected between $1.23 billion and $1.47 billion.

• GMV guidance for 2026 is $1.50 billion to $1.79 billion.

• Gross profit projected between $144.0 million and $170.9 million for 2026.

• Net income forecasted between $6.1 million and $15.7 million in 2026.

• Adjusted EBITDA expected to range from $10.0 million to $19.6 million in 2026.