Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 88

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 4A
Chunk 88
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.5                104.3  
  Cash, cash equivalents and restricted cash at end of the year              $                                     99.7      $         106.5      $         123.5  

Operating activities

Net cash used in operating activities was $0.8 million
for the year ended December 31, 2024. Net loss was $43.3 million for the period. The adjustments for non-cash expenses are primarily
comprised of (i) $10.7 million of depreciation and amortization that was associated with property and equipment; (ii) $3.8 million
of provision for obsolete and excess inventory; (iii) $0.7 million from deferred income taxes; and (iv) $27.3 million of stock-based
compensation, partially offset by (a) $1.6 million gain from sale of investment. The changes in operating assets and liabilities represented
$0.2 million cash used in (i) a decrease in accounts payable of $57.4 million; and (ii) a decrease in accrued liabilities and
other liabilities of $8.4 million; and (iii) an increase in prepaid expenses of $0.9 million, partially offset by (a) a decrease
in inventory of $32.9 million; (b) a decrease in other assets of $17.4 million; (c) a decrease in accounts receivable of $14.5
million; and (d) an increase in deferred revenue of $1.6 million.

Net cash used in operating activities was $3.8 million
for the year ended December 31, 2023. Net loss was $59.0 million for the period. The adjustments for non-cash expenses are primarily
comprised of (i) $13.4 million of depreciation and amortization that was associated with property and equipment; (ii) $3.4 million
of provision for obsolete and excess inventory; (iii) $33.7 million of stock-based compensation and partially offset by (a)
$6.8 million gain from sale of investment and (b) $0.7 million from deferred income taxes. The changes in operating assets and liabilities
represented $11.8 million cash provided by (i) a decrease in inventory of $16.8 million; (ii) a decrease in prepaid
expenses of $3.6 million; (iii) a decrease in other assets of $7.1 million; (iv)