Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 85

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 4A
Chunk 85
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these limitations are:

  Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital ...  
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  Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs;  
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  Adjusted EBITDA does not consider the potentially dilutive impact of stock-based compensation;  

  Adjusted EBITDA does not reflect tax payments that may represent a reduction in cash available to us; and  
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  Other companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure.  
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Because of these limitations, you should consider
Adjusted EBITDA alongside other financial performance measures, including various cash flow metrics, operating profit and our other GAAP
results.

The following table reflects the reconciliation
of net loss to Adjusted EBITDA for each of the periods indicated.

                                                              For the Year Ended December 31,                                                       
                                                              2024                                            2023                 2022             
                                                              (in millions)                                                                         
  Net loss                                                    $                                    (43.3      $         (59.0      $         (57.4  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Adjustments:                                                                                                                                      
  Stock-based compensation expenses                                                                 27.3                 33.7                 33.9  
  Interest expense (income), net                                                                    (1.7                  0.2                 (0.5  
  Income tax (benefit) provision                                                                    (1.3                 (2.7                 14.1  
  Depreciation and amortization                                                                     10.7                 13.4                 11.0  
  Impairment of equity method investment                                                               —                    —                  2.3  
  Loss from fixed asset disposal                                                                     0.5                    —                    —  
  Gain from sale of investment                                                                      (1.6                 (6.8