With that said, here is a brief recap of what changed in fiscal year 2021: we installed a new management team comprised of technology veterans and introduced a more equity-focused executive compensation structure to increase alignment with stockholders; we refreshed the Board with stockholders and individuals who possess records of value creation, while reducing individual director compensation; we ended relationships with high-priced external consultants who were costing the company millions of dollars per year; we hired hundreds of new individuals with e-commerce, operations and technology experience, while eliminating many redundant and unnecessary roles; we recapitalized the company's balance sheet after raising approximately $1.67 billion in capital; we expanded our product catalog to seize more market share in areas such as PC gaming, personal electronics and virtual reality; we invested in our fulfillment network by standing up new facilities on the East Coast in York, Pennsylvania, and on the West Coast in Reno, Nevada; we invested in our systems and tech stack after years of decay and neglect; we invested in U.S.-based customer service and established a new facility in South Florida; we invested in a dedicated blockchain team and new capabilities to drive the development of initiatives such as our NFT marketplace, which we expect to launch by the end of the second quarter; we see significant long-term potential in the more than $40 billion market for NFTs.
We recognize that our special connectivity with gamers provides us a unique opportunity in the Web 3.0 and digital asset world.
This helped grow our PC gaming sales by 150% for the full year.
We now have more than 100 Razer SKUs, including the company's latest laptop.
We grew PowerUp Rewards Pro members by 31.8% on a year-over-year basis, taking total membership to approximately 5.8 million.
We entered into a partnership with Immutable X that is intended to support the development of our NFT marketplace and provide up to $150 million in IMX tokens upon achievement of certain milestones.
Net sales were $2.25 billion for the quarter, compared to $2.12 billion in the fourth quarter of 2020 and $2.19 billion in the fourth quarter of 2019.
For the full year, net sales were $6.01 billion, compared to $5.09 billion for fiscal year 2020.
SG&A was $538.9 million for the quarter or 23.9% of sales, compared to $419.1 million or 19.7% of sales in last year's fourth quarter.
We reported a net loss of $147.5 million, or $1.94 per diluted share, compared to a net income of $80.3 million, or income per diluted share of $1.18 in the prior-year fourth quarter.
For the full year, SG&A was $1.71 billion, compared to $1.51 billion for the last fiscal year.
We had a net loss of $381.3 million for fiscal year 2021, relative to $215.3 million for fiscal year 2020.
We finished the year with cash and cash equivalents of over $1.27 billion, roughly $760 million higher than the company's cash position at the close of last year.
At the end of the year, we had no borrowings under our ABL facility and no debt other than a $44.6 million low-interest, unsecured term loan associated with the French government's response to COVID-19.
Capital expenditures for the quarter were $21.3 million, bringing full-year capex to $62 million.
In the fourth quarter, cash flow from operations was an outflow of $110.3 million, compared to an inflow of $164.8 million during the same period last year.
We ended the year with $915 million in inventory, compared to $602.5 million at the close of fiscal year 2020.

Summary:
We reported a net loss of $147.5 million, or $1.94 per diluted share, compared to a net income of $80.3 million, or income per diluted share of $1.18 in the prior-year fourth quarter.