Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 204

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 18
Chunk 204
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Million Loan is included as “ Notes receivable” at the Stockholders’
Equity section of the Consolidated Balance Sheets as of December 31, 2024 and 2023.

During each of the years ended
December 31, 2024, 2023 and 2022, the Company recorded interest income of $0.8million from loans to affiliate in interest income
in the consolidated statement of operations. As of December 31, 2024 and 2023, the amount of interest receivable on the $15.0Million
Loan outstanding included as a component of “ Notes receivable” at the Stockholders’ Equity section in the consolidated
balance sheets was $0.2million and $0.2million, respectively.

F-27

Sales to Related Parties

Due from related parties and net sales
to related parties primarily reflect sales of finished goods and services with the exception of loans to affiliate as discussed above.
Sales during the years ended December 31, 2024, 2023 and 2022 were immaterial.

As of December 31, 2024 and
2023, amount due to related parties was immaterial.

  18.      Segment Information  
 ────────────────────────────────

The Company’s Chief Executive
Officer, who is the chief operating decision maker (“ CODM”), manages resource allocations, measures performances, reviews
financial information presented on a consolidated basis. There are no segment managers who are held accountable for operations, operating
results and plans for levels or components below the consolidated unit level. The Company considers itself to be operating withinonereportable segment.

On a monthly basis, the CODM
considers net sales by revenue stream, gross margin, and operating expenses (excluding stock based compensation and depreciation and
amortization) when making decisions about allocating capital and personnel-related resources to the reporting segment. The CODM does
not use Balance Sheet information in connection with operating and investment decisions and as such that information is not
presented.

                                     For the Year Ended December 31,                                  
                                                                2024            2023            2022  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
  Direct sales revenues (1)                               $1,123,489      $1,396,624      $1,607,027  
  Marketplace revenues (2)                                    25,205          32,330          47,005  
  Services