We've also been exploring emerging opportunities in blockchain, NFTs, and Web 3.0 gaming.
We also began implementing new assortment strategies within our stores, including an expansion of PC gaming merchandise across approximately 60% of U.S. locations.
Over the course of 2021, we have made more than 200 senior hires from some of the top technology companies.
Our expanded network is continuing to help us improve shipping times to customers across the U.S. Additionally, we recently announced a plan to hire up to 500 associates at our new customer care facility in South Florida.
Lastly, we've further strengthened our financial position by securing a new $500 million ABL facility, which closed early in November and includes improved liquidity and terms.
Net sales increased 29.1% to just under $1.3 billion, compared to just over $1 billion during the same period in 2020.
SG&A was $421.5 million, or 32.5% of sales, compared to $360.4 million or 35.9% of sales in last year's third quarter.
We reported a net loss of $105.4 million, or $1.39 per diluted share, compared to a net loss of $18.8 million or loss per diluted share of $0.29 in the prior-year third quarter.
Turning to the balance sheet, we ended the quarter with cash and cash equivalents of over $1.4 billion, nearly $1 billion higher than the end of the third quarter last year.
At the end of the quarter, we had no borrowings under our ABL facility and no debt other than a $46.2 million low-interest unsecured term loan associated with the French government's response to COVID-19.
Total liabilities compared to the third quarter of last year were down $262.1 million.
Capital expenditures for the quarter were $12.5 million, bringing year-to-date capex to $40.7 million.
In the third quarter, cash flow from operations was an outflow of $293.7 million, compared to an outflow of $184.6 million during the same period last year.
In order to meet customer demand and drive sales growth amid the tight supply chain, we grew our inventory to $1.14 billion as of the close of the quarter, compared to $861 million at the close of the prior year's third quarter.

Summary:
We reported a net loss of $105.4 million, or $1.39 per diluted share, compared to a net loss of $18.8 million or loss per diluted share of $0.29 in the prior-year third quarter.