Newegg predicts full-year net sales will reach 2.4 billion!

Recently, Newegg officially released its forecast for the full-year financial data for 2021. According to the latest forecast, the company 's financial performance in the second half of 2021 will remain strong , and it is expected to achieve approximately $1.2 billion in net sales and up to $18.5 million in net income . The full-year net sales will reach $2.4 billion, and the net income will reach up to $40.1 million .

The company's chief financial officer , Robert Chang , said they are confident about the company's future and believe that customer demand for their company's products will continue to be strong .

Newegg said that the forecast has fully taken into account the impact of consumer demand and spending patterns, including the current economic outlook and business environment, and the results of the data forecast are also based on the development trend in the first half of 2021. However, Newegg also stated that they cannot determine the final results of operations in the second half of 2021 , or other impacts caused by the recurrence of the new crown epidemic. Due to some influencing factors, the actual results may differ from the above financial forecasts.

In addition, Newegg also stated that in recognition of the company's strong financial performance and successful listing this year , it is considering taking various compensation measures to reward, motivate and retain its growing workforce. Incentives will include allowing the granting of stock options, restricted stocks, restricted stock units and other forms of equity awards .

The company's CEO Anthony Chow said they are very proud of the company's achievements , and the company's ability to go public is the result of 20 years of hard work by all employees . Its board of directors believes that equity-based compensation helps them acquire and retain new talent while helping employees and encouraging them to create greater value.

In the first half of 2021, Newegg's net sales increased from US$862.7 million to US$1.2069 billion, up 39.9%; gross profit increased from US$124.6 million to US$166.9 million, up 33.9%; net income increased by 14.0% to US$21.6 million, and the number of active customers reached 4.2 million, which was favored by consumers.

It is reported that the company is currently exploring ways to raise additional funds, including the possibility of issuing newly issued ordinary shares . This move is aimed at raising additional funds to enable it to develop and diversify its shareholder base.

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