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Business Standard
25-05-2025
- Business
- Business Standard
Global giants may eye a slice of Tamil Nadu's 2 million laptop tender
It is being hailed as the largest ever laptop procurement through a single tender in India, aimed at providing free laptops to 1 million college students in Tamil Nadu. According to sources, nearly all major original equipment manufacturers (OEMs) in the country — including Dell, HP, Lenovo, Acer, Asus, and Samsung — have already shown interest in the tender and have engaged in multiple rounds of discussions with the state government. Key industry players such as Microsoft, Google, and Intel have also held talks with state authorities ahead of the tender process. The Electronics Corporation of Tamil Nadu issued a global tender on Friday, seeking to procure roughly 2 million laptops over a two-year period. The first phase of the tender, covering 1 million units, has now been floated after a go-ahead from Deputy Chief Minister Udhayanidhi Stalin. 'This is the largest single tender for laptops in India so far, as the scale of procurement was much less in those cases. Similar projects were undertaken by various states like Tamil Nadu, Andhra Pradesh, Pondicherry, and Uttar Pradesh in the past. However, those were done in several tranches,' said a government source aware of the development. According to reports, the state is looking to procure laptops at a cost of ₹20,000 each, with a total budget of ₹2,000 crore — to be allotted in equal tranches over two years. The laptop specifications include any processor equal to or above Intel Core i3 or AMD Ryzen, with a minimum RAM of 8 gigabytes, a screen size of 14 inches or 15.6 inches, and a USB-C type port. Companies must commit around 100,000 laptops for the tenders to be valid, with a similar unit having a market price in the range of ₹30,000–35,000. The technical bids are expected to be opened by the end of June. 'We have held talks with almost all the OEMs in India, supply chain players, and various stakeholders too. We had four to five rounds of consultation with them. The list of players who had talks included Microsoft, Google, Intel, Dell, HP, Acer, Lenovo, among others,' the source said. 'Between 2011 and 2020, we had a similar procurement, and in that, all the major OEMs participated. We expect similar interest this year too,' he added. 'We will be opening the bids by the end of June. Then there will be technical evaluation and discussions with the bidders as well. Then the financial bids will be opened,' the official said. Between 2012 and 2015, the Uttar Pradesh government had reportedly distributed 1.5 million laptops, making it one of the largest distribution schemes ever implemented by any government in the world at that point. The Tamil Nadu government itself had a free laptop scheme for students in government-aided schools and colleges, which was carried out in six phases between 2011 and 2017. Though reports indicate around 3.8 million laptops were procured during that time, they were delivered in several tranches.
Time of India
24-05-2025
- Business
- Time of India
TN floats tender for mid-spec laptops to give students free
Chennai: The state govt has floated an international tender to procure 10 lakh laptops to distribute free to students. The govt had earlier announced that 20 lakh laptops will be provided to college students over two years. Following a recent meeting with deputy chief minister Udhayanidhi Stalin, the Electronic Corporation of Tamil Nadu (ELCOT) floated tenders on Friday to procure 10 lakh mid-spec laptops in the first phase. Officials said each laptop will be procured at a cost of about 20,000, with 2,000 crore in this budget and equal funding expected in the next budget. The laptops specified generally cost between 30,000 and 35,000 in the market. Officials with ELCOT said the contractor must provide at least one lakh laptops for the tenders to be valid. The specifications mandate firms to supply laptops with any processor equal to or above Intel Core I3 or AMD Ryzen, with a minimum RAM of eight gigabytes. The laptops shall be 14 inches or 15.6 inches, and they must have at least one USB C type port (for fast file transfers). "In the past, the govt provided the most basic version of Pentium laptops with only dual-core processors and 2GB RAM. The ones given now are the latest generation four-core processors with eight GB RAM. "This will help students edit videos and also play 4K videos on the laptop without issues. We are giving higher RAM to ensure it stays fast for many years," said the official. The laptops will also have modern and faster solid-state drive hard drives and a 720p HD video camera. The students will also get a free one-year subscription to Microsoft Office 365, including Word, Excel, and Teams. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
Mint
13-05-2025
- Mint
Best solid state drive laptop in 2025: Top 10 options for blazing speed, performance and long battery life
In 2025, laptops with solid state drives (SSDs) are making everyday computing smoother and quicker. These laptops load in seconds, open files faster, and help you move through tasks without lag. No more long waits when starting your system or opening heavy software. SSDs handle it with ease. It's a noticeable difference, especially if you're used to slower machines that struggle to keep up with your pace. From working on presentations to streaming, browsing or managing several tabs at once, SSD laptops keep things running without hiccups. They are built for people who want quick access, steady output and fewer interruptions. If speed matters to you because time does then this list of best solid state drive laptops in 2025 brings together the top picks that help you stay one step ahead. If you are searching for the best solid state drive laptop in 2025, this one delivers exactly what you need. Fast file access, quick response while working or gaming, and smooth performance even when juggling tasks. With the SSD's speed, it ensures that you won't be kept waiting, making it ideal for multitaskers and gamers alike. Its a great recommendation to you if you are looking on Amazon. RAM Memory Installed Size 16 GB Special Feature Anti Glare Coating Speedy boot and load times Handles multitasking well Prefer lighter weight laptops Do not need high graphics What are buyers saying on Amazon? Impressed by the speed and smooth performance, even under heavy use. Great for work and gaming, handles everything without slowing down. Dell Inspiron 7430 2in1 touch laptop is one of the best solid state drive laptop in 2025, offering fast response and smooth transitions between tasks. Its SSD ensures quick load times and steady access to files, making it a great option for work or entertainment purposes. Its 2-in-1 design allows for easy switching between laptop and tablet modes, making it ideal for people on the go. This SSD laptop offers a seamless experience for productivity and entertainment. RAM Memory Installed Size 8 GB Operating System Windows 11 Home Special Features Fingerprint Reader, Backlit Keyboard Fast boot times and smooth multitasking 2-in-1 versatility for various tasks Larger design may not suit those who prefer smaller laptops What are buyers saying on Amazon? Super quick, handles everything without lag, great for multitasking. Runs smoothly for both work and play, no slowdowns at all. The HP OmniBook 5 Next Gen AI Copilot+ Laptop is a top pick for anyone looking for the best solid state drive laptop in 2025. It offers impressive speed and smoothness with its large 512 GB SSD and AI driven AMD Ryzen processor. The 16 inch 2K display ensures a clear view, while the slim build makes it easy to take on the go. It's an excellent option for those who need both power and portability in one laptop. RAM Memory Installed Size 16 GB Screen Resolution 1920 x 1200 pixels Special Features Backlit Keyboard, Anti Glare Coating Fast 512GB SSD for storage Large display for clear view On the heavier side Not ideal for heavy gaming What are buyers saying on Amazon? Buyers mentioned that it offers great speed and smooth experience. This SSD laptop is ideal for anyone who wants a fast, spacious laptop with a big screen. The Lenovo IdeaPad Slim 3 is the best solid state drive laptop in 2025, designed to keep up with your busy lifestyle. It handles multiple tasks smoothly, making work feel effortless. The lightweight design of this SSD laptop allows you to carry it easily, while the display provides clear, vibrant visuals. For anyone who needs a laptop that's quick and easy to use, this one does the job perfectly. RAM Memory Installed Size 16 GB Operating System Windows 11 Home Special Features HD Audio, Backlit Keyboard, Memory Card Slot, Anti Glare Coating Fast 512GB SSD storage Large RAM for multitasking May not suit gamers No dedicated graphics What are buyers saying on Amazon? It's super fast and light! Perfect for any task you want to do. If you need a laptop that's quick, easy to carry, and gets the job done, this one's a winner! The Dell 15 thin and light laptop with a solid state drive is built for those who need a reliable machine for work and everyday tasks. It can be considered one of the best solid state drive laptops in 2025. Its fast SSD ensures quick load times, while the lightweight design makes it easy to carry around. If you're tackling work projects or streaming content, this SSD laptop delivers a smooth experience, all within an easy-to-carry package. So, do not hesitate to trust it because it is definitely a great recommendation for you. RAM Memory Installed Size 8 GB Operating System Windows 11 Home Special Feature Thin laptop Fast and reliable SSD for smooth performance Lightweight design for easy portability May be heavier than ultra-portable models Limited graphics for heavy gaming What are buyers saying on Amazon? It's fast, lightweight, and just right for daily use. If you need a laptop you can count on for work and everyday tasks, this one checks all the boxes. This SSD laptop keeps up with a full day of work or study without making things complicated. It starts up quickly, opens apps without delay, and is simple to carry around. If you're looking for the best solid state drive laptop in 2025, this one fits right in for people who want a no fuss machine that handles everyday work, classes, and even long hours of screen time without slowing down. RAM Memory Installed Size 16 GB Operating System Windows 11 Home Special Features HD Audio, Memory Card Slot, Anti Glare Coating Handles daily tasks smoothly Stays responsive during long use Not built for heavy games Audio could be improved What are buyers saying on Amazon? Runs all my apps quickly, no freezing or lag. It keeps things simple and fast, making work and study feel a lot easier. This Lenovo SSD laptop is made for people who like to get things done without waiting around. It starts fast, runs smoothly even with many tabs open, and stays cool during long sessions. You can easily carry it to class or work. If you're searching on multiple e-commerce websites for the best solid state drive laptop in 2025, this one keeps things quick and easy from the moment you switch it on. RAM Memory Installed Size 32 GB Operating System Windows 11 Home Special Features HD Audio, Backlit Keyboard, Memory Card Slot, Anti Glare Coating Resolution 2880x1800 Pixels Can handle work and creative use Easy to take on the go Speakers could be better Not meant for gaming only What are buyers saying on Amazon? Love how it stays quick even with lots of apps open. It's a simple, fast laptop that doesn't slow you down during work or study. If your day is packed with work, meetings, and creative work, this SSD laptop makes it easier to keep up. It feels fast the moment you turn it on and stays smooth even with multiple apps running. Carrying it around isn't a hassle either. For those searching for the best solid state drive laptop in 2025, this one handles the load without slowing you down so buy it to make your daily tasks hassle free. RAM Memory Installed Size 32 GB Special Features HD Audio, Backlit Keyboard, Anti Glare Coating Processor Type Intel Core i7 Handles multitasking well Feels fast throughout use Slightly expensive May not suit heavy gaming What are buyers saying on Amazon? Super quick and doesn't freeze, even with video calls and editing tools open. It's easy to use and stays smooth even when you're doing a lot at once. If you need a laptop that won't hang or heat up during your daily hustle, this is a strong pick. Fast to boot, easy to carry, and runs smoothly when you've got 10 tabs open, this one doesn't slow you down. It's not flashy, but it just works. That's why it deserves a spot among the best solid state drive laptops in 2025 for students, professionals, or casual users alike. And a solid laptop recommendation to buy it from Amazon. RAM Memory Installed Size 16 GB Special Features HD Audio, Anti Glare Coating, Memory Card Slo Computer Memory Type DDR4 SDRAM Starts up fast every time Handles multitasking with ease Basic display resolution Not for heavy software use What are buyers saying on Amazon? Great for video conferencing and browsing with no slowdowns. It gets your work done without any drama or delays, every single day. The Lenovo IdeaPad Slim 3 is the laptop that keeps up with your pace. It's lightweight, so you can easily take it from home to the office or on the go, and its fast SSD ensures everything runs smoothly, even when you're juggling tasks. If you're diving into work, catching up on classes, or enjoying a quick web session, it delivers a seamless experience that makes life a little easier. This is the best solid state drive laptop in 2025, making it the right choice if you're looking for one under the 30K price range on Amazon. RAM Memory Installed Size 8 GB Special Features HD Audio, Lightweight, Memory Card Slot, Anti Glare Coating Wireless Type Bluetooth, 802.11ax Operating System Windows 11 Home Lightweight and easy to carry on the go. Fast SSD ensures quick boot times and smooth use. Not suited for demanding gaming sessions. Screen brightness may not be the highest. What are buyers saying on Amazon? Buyers liked how smoothly it runs multiple tasks and how portable it is, making it a top pick on Amazon. Choose this SSD laptop if you are on a budget. The technology in a best solid state drive laptop uses NAND flash memory to store data, which is significantly faster than the mechanical parts in a traditional hard drive. This allows for quicker read and write speeds, resulting in faster boot times, file transfers, and program launches. Recent advancements like PCIe 4.0 and NVMe technology have significantly boosted data transfer speeds in best solid state drive laptops. These technologies provide faster communication between the SSD and the motherboard, offering more efficient data handling and reducing bottlenecks during heavy tasks. Thermal management is crucial for the performance of a best solid state drive laptop. SSDs generate less heat than traditional hard drives, but high end laptops with SSDs often use heat spreaders or thermal throttling to keep the temperatures in check. This ensures the SSD operates at its optimal speed without overheating, preventing slowdowns during heavy usage. Storage size : Make sure the SSD has enough space (aim for 256GB or more) to store all your files and apps. : Make sure the SSD has enough space (aim for 256GB or more) to store all your files and apps. Speed : Go for a faster SSD, like NVMe, to keep things running smoothly without lag. : Go for a faster SSD, like NVMe, to keep things running smoothly without lag. Battery life : Choose a laptop that can go the distance, especially if you need it for long work or study sessions. : Choose a laptop that can go the distance, especially if you need it for long work or study sessions. Weight and durability : Pick something light and tough, so you can carry it around without worry. : Pick something light and tough, so you can carry it around without worry. Brand trust : Go with well-known brands that offer reliable products and good support. : Go with well-known brands that offer reliable products and good support. Price vs features : Find the right balance between what you're paying and the features you really need. : Find the right balance between what you're paying and the features you really need. Software and OS: Make sure the laptop comes with the latest operating system and software for a smoother experience. Best Solid State Drive Laptops in 2025 Technology Used Special Features Processor Type Lenovo Smartchoice LOQ SSD Fast SSD storage, lightweight Intel Core i5 Dell Inspiron 7430 2in1 Touch SSD Laptop SSD, Touchscreen 2-in-1 convertible, touchscreen, fast SSD Intel Core i5 HP OmniBook 5 (Previously Pavilion) Next Gen AI Copilot+ Laptop SSD, AI Copilot+ AI-powered Copilot+, portable design Intel Core i5 Lenovo IdeaPad Slim 3 SSD Thin and light design, fast performance Intel Core i5 Dell 15 Thin and Light SSD Laptop SSD Thin and light design, fast SSD Intel Core i5 Lenovo Smartchoice IdeaPad Slim 3 13th Gen Core i7 IPS Laptop SSD, IPS Display 13th Gen Core i7, high-resolution IPS display Intel Core i7 Lenovo IdeaPad Pro 5 Intel Core Ultra 9 SSD Laptop SSD Ultra-fast SSD, ideal for work and entertainment Intel Core Ultra 9 Lenovo Smartchoice Yoga Slim 7 Aura SSD Laptop SSD AI Copilot+ tech, slim design, good for multitasking Intel Core i7 Lenovo IdeaPad Slim 1 AMD Ryzen 7 5700U 15.6" HD Thin and Light Laptop SSD AMD Ryzen 7 processor, HD display, thin design AMD Ryzen 7 5700U Lenovo IdeaPad Slim 3 AMD Ryzen 3 7320U 14" FHD Thin and Light Laptop SSD FHD display, lightweight, affordable price AMD Ryzen 3 7320U Disclaimer: Mint has an affiliate marketing partnership, which means we may get some commission on purchases you make through the retailer sites links provided. These partnerships do not influence our editorial content, which is free from any bias or marketing pitch. We strive to provide accurate and unbiased information to help you make informed decisions. We recommend verifying details with the retailer before making a purchase.
Business Upturn
09-05-2025
- Business
- Business Upturn
HostColor Expands Unmetered Bare Metal Server Offerings
New York, New York, May 09, 2025 (GLOBE NEWSWIRE) — (HC), a globally recognized cloud infrastructure and MSP, announced the availability of new 1gbps unmetered dedicated server offerings based on high-performance hardware configurations. They are available for immediate deployment in Ashburn, Atlanta, Boston, Chicago, Dallas, Denver, Detroit, Houston, Los Angeles, Miami, New York, Phoenix, Santa Clara, San Francisco, Seattle, St. Louis in the United States, Montreal and Toronto in Canada, and Frankfurt, Madrid, and Zurich in Germany, Spain, and Switzerland in Europe. In Asia, HC offers 1gbps unmetered bandwidth servers in Singapore and Tokyo HC's Bare Metal Cloud Servers can handle large amounts of data and are well suited for hosting high-intensity application workloads and database management that require instantaneous data processing. Bare Metal Clouds with 1 Gbps – 20 Gbps bandwidth HostColor's best-selling cloud infrastructure platforms are 1gbps unmetered dedicated server configurations powered by Intel Xeon and AMD Ryzen or AMD Epyc processors. Server plans range from 4 to 128 CPU cores, up to 20248 GB of memory (RAM), and various storage configurations. Some server platforms are pre-configured and scalable for bandwidth and other network configurations. Others offer upgradeable memory and storage options in addition to native network scalability. Organizations whose application environments require more central processing unit (CPU) cores can take advantage of the HC's high-bandwidth AMD dedicated server configurations powered by AMD Ryzen 7950X3D and AMD Epyc 7452, AMD Epyc 7502, AMD Epyc 7702, AMD Epyc7662, and AMD Epyc 7742 processors and connected to a 10 Gbps Internet network. The servers have an out-of-the-box bandwidth allocation of 2 Gbps, which can be expanded to 20 Gbps by upgrading the server's network interfaces from 10 GigE to 20 GigE. Storage options for the AMD CPU-based include two (2x) 480 GB, 960 GB, 1.92TB, 3.84TB SSD, or 7.68TB hard drives or two (2x) 1TB NVMe, 1.92TB NVMe, or two 4TB NVMe drives. A 480 GB SSD can be added to server configurations for use as an OS/System drive. Available memory ranges from 256 GB RAM to 1024 GB RAM, with a default limit of 512 GB RAM for most server configurations. HostColor's approach differs from that of large hyperscale clouds. The company's infrastructure options for bare metal and dedicated cloud hosting include unmetered bandwidth and unlimited data transfer up to the physical capacity of the Internet connection ports. Additionally, HostColor does not charge for inbound or outbound Internet traffic, for Internet traffic, IOPS, DNS lookups, DNS zones, Internet traffic zones, or technical support of the infrastructure. All HC server configurations are cloud-ready, providing customers with enterprise cloud computing and virtualization options. These configurations are compatible with leading cloud providers such as AWS, Azure, and Google Cloud. AMD Server Platforms for High Performance Computing In April 2025, HostColor announced an expanded portfolio of bare metal servers suitable for dedicated clouds, AI-based projects and other high performance computing initiatives. The bare metal computing platforms include AMD-based servers with EPYC 4344P, 7713P, 7543, 7543P, 9124, 9275F, 9274F, 9354P, 9355P, 9374F, 9454P, 9474F, 9575F, and EPYC 9654 processors in Ashburn, Charlotte, Dallas, Los Angeles, and New York in the United States and in Amsterdam, the Netherlands. Free Infrastructure Technical Support HostColor does not charge for access to technical support on the core functionality of the dedicated cloud hosting infrastructure it provides to its customers. It provides dedicated cloud servers with 'Free Infrastructure Technical Support' per Service Level Agreement (SLA). Free Infrastructure Technical Support (FITS) covers core service functionality related to network interfaces and the physical components of bare metal servers such as CPU, RAM, and storage drives. It also includes consultation on various infrastructure service use case scenarios. However FITS, does not cover maintenance and support for the operating system (OS), custom configurations, and installed software applications. These are covered by the next level of SLA-defined technical support called Semi-Managed Dedicated Servers. This native technical support agreement is based on the company's Edge Server hosting infrastructure platform. Semi-Managed Dedicated Servers Semi-Managed Dedicated Servers In addition to its Free Infrastructure Technical Support (FITS), all of HostColor's dedicated server hosting services are 'Semi-Managed' by provider is responsible for installing and configuring server instances to the customer's custom configurations for Linux infrastructure environments. In addition, HC Support reinstalls the server operating system (OS) upon request, configures and manages network settings, creates and maintains custom virtual private networks, and assists customers in troubleshooting any server-side issues related to OS, network, or software configuration. About HostColor Since 2000, (HC) has been a global provider of semi-managed edge, bare metal, and cloud infrastructure and IT hosting services. The company operates virtual data centers and provides dedicated hosting and colocation services from over 100 data centers worldwide, with its subsidiary, providing cloud infrastructure and dedicated hosting services in 19 European countries. For more information, visit Media Contact PR Department +1 888-222-1495 [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Business Wire
28-04-2025
- Business
- Business Wire
Newegg Announces Fiscal Year 2024 Results
BUSINESS WIRE)--Newegg Commerce, Inc. (NASDAQ: NEGG), a leading global technology e-commerce retailer, today announced results for the fiscal year ended December 31, 2024. Newegg Chief Executive Officer Anthony Chow announced, '2024 was a year defined by operational discipline and strategic focus. Throughout the year, we executed a broad range of SG&A reduction initiatives, including warehouse consolidation, subleasing unused property, and aligning our workforce to match business needs. These actions improved our bottom line, strengthened our foundation, and we believe position us for future growth. Notably, we closed the year with a strong fourth-quarter performance. Sales momentum accelerated, driven by a month-long Black Friday campaign that delivered impressive results, highlighting the effectiveness of our promotional strategy and our ability to drive engagement and conversion in a highly competitive environment. Through the first quarter of 2025, we have continued to experience positive momentum from new product launches, including the launch of NVIDIA GeForce 50 Series GPUs, AMD Radeon 9000 Series GPUs, and the latest high-end AMD Ryzen CPUs, resulting in double digit GMV growth in direct and marketplace sales on a year-over-year basis. We are also exploring new opportunities in the business-to-business software as a service space, expanding our offerings beyond traditional e-commerce and placing greater emphasis on high-growth categories such as gaming notebooks and desktops, which are experiencing a notable surge in demand. Additionally, while we've benefited from a pull forward in sales due to tariff warnings, we are actively monitoring the impact to sales on a post-tariff basis and are working closely with our partners to optimize under current conditions. As we move forward, we are focused on expanding our presence in the AI PC and high-performance PC segments, while forming new strategic partnerships to unlock the next phase of innovation and customer value.' Newegg Chief Accounting Officer Christina Ching noted, 'We are pleased to report significant progress following the implementation of various cost optimization measures throughout 2023 and 2024, including our real estate consolidation efforts. These actions have resulted in a notable reduction in SG&A expenses, which is reflected in our improved Adjusted EBITDA. We have also maintained a strong focus on efficient inventory management, leading to a decrease in inventory from $136.2 million as of December 31, 2023 to $98.5 million as of December 31, 2024. This reduction was largely driven by a strong sales surge during the Black Friday and Christmas holiday sales periods. We have already seen the increased demand that began with the holiday season carry over into the first quarter of 2025, driven by several new product launches. This increase in sales, combined with our SG&A reduction efforts, has begun to result in positive profitability momentum, with our Adjusted EBITDA notably moving to the positive in Q1 2025. However, a key challenge for the remainder of 2025 will be the impact of tariff policy on consumer confidence and purchasing behavior. As a result of this uncertainty, we are not prepared to deliver full year 2025 guidance at this time. As of December 31, 2024, our $50 million credit facility remained fully undrawn. Additionally, we effected a twenty-to-one share combination on April 7, 2025 in order to regain compliance with Nasdaq's minimum bid price requirement, which we achieved on April 22, 2025.' 2024 Fiscal Year Financial Highlights Net sales decreased to $1.24 billion, compared to net sales of $1.50 billion in fiscal year 2023. GMV decreased to $1.53 billion, compared to GMV of $1.81 billion in fiscal year 2023. Gross profit decreased to $131.5 million, compared to gross profit of $167.6 million in fiscal year 2023. Net loss decreased to $43.3 million, compared to net loss of $59.0 million in fiscal year 2023. Adjusted EBITDA was ($9.5) million, compared to Adjusted EBITDA of $(21.3) million in fiscal year 2023. 2024 Fiscal Year Operational Metrics Average order value was $396 for the year ended December 31, 2024, compared to $379 for the prior year. Active customers, defined as unique customer IDs with at least one item purchased on Newegg platforms in the past 12 months, totaled approximately 2.1 million as of December 31, 2024, a decrease from 2.5 million the prior year. Repeat purchase rate, the percentage of active customers who made at least two purchases on Newegg platforms during the past 12 months, was 26.0% as of December 31, 2024, compared to 29.2% for the prior year. The Company anticipates filing its annual report on Form 20-F for the fiscal year ended December 31, 2024, on April 28, 2025. About Newegg Newegg Commerce, Inc. (NASDAQ: NEGG), founded in 2001 and based in Diamond Bar, Calif., near Los Angeles, is a leading global online retailer for PC hardware, consumer electronics, gaming peripherals, home appliances, automotive and lifestyle technology. Newegg also serves businesses' e-commerce needs with marketing, supply chain, and technical solutions in a single platform. For more information, please visit Follow Newegg on X, TikTok, Instagram, Facebook, YouTube, Twitch and Discord. Non-GAAP Financial Information This press release presents certain 'non-GAAP' financial measures. The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in the United States of America ('GAAP'). A reconciliation of non-GAAP financial measures used in this press release to their nearest comparable GAAP financial measures is included in the schedules attached hereto. GMV The Company defines gross merchandise value, or GMV, as the total dollar value of products sold on its websites and third-party marketplace platforms, directly to customers and by its Marketplace sellers through Newegg Marketplace, net of returns, discounts, taxes, and cancellations. GMV also includes the services fees charged through its Newegg Partner Services ('NPS') in rendering services for its third-party logistics ('3PL'), shipped-by-Newegg ('SBN'), staffing and media ad services, as well as the sales made by its Asia subsidiaries. Adjusted EBITDA Newegg calculates Adjusted EBITDA as net income/loss, excluding stock-based compensation expense, depreciation and amortization expense, interest income, net, income tax (benefit) provision, gain/loss from warrant liabilities, gain/loss from fixed assets disposal, and gain/loss from sales of investment. Newegg believes that exclusion of certain expenses in calculating Adjusted EBITDA facilitates operating performance comparisons on a period-to-period basis and excludes items that it does not consider to be indicative of its core operating performance. Accordingly, Newegg believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of Newegg's results as reported under GAAP. Some of 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 expenditure requirements for such replacements or for new capital expenditure requirements; Adjusted EBITDA does not reflect changes in, or cash requirements for, the working capital needs; Adjusted EBITDA does not consider the potentially dilutive impact of stock-based compensation; Adjusted EBITDA does not reflect tax payments that may represent reduction in cash available to Newegg; and other companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure. Because of these limitations, you should consider Adjusted EBITDA alongside other financial performance measures, including various cash flow metrics, operating profit and Newegg's other GAAP results. Cautionary Statement Concerning Forward-Looking Statements This news release includes 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinion, belief or forecasts of future events and performance, including those relating to future impacts of tariff policy on consumer confidence and purchasing behavior, and the filing date of Newegg's annual report on Form 20-F for the fiscal year ended December 31, 2024. Words such as 'will,' 'may,' 'expects,' 'projects,' 'anticipates,' 'plans,' 'believes,' 'estimate,' 'should,' and variations of such words or similar expressions are intended to identify such forward-looking statements. In addition, any statements other than statements of historical fact are forward-looking statements. Although Newegg believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. The Company's SEC filings are available at Consolidated Balance Sheets 2024 2023 Assets Current assets: Cash and cash equivalents $ 96,255 $ 102,512 Restricted cash 3,487 3,962 Accounts receivable, net 64,363 80,383 Inventories, net 98,537 136,164 Income taxes receivable 2,452 3,226 Prepaid expenses 14,222 13,424 Other current assets 4,329 4,780 Total current assets 283,645 344,451 Property and equipment, net 51,175 61,479 Deferred tax assets, net 914 1,607 Investment at cost - 2,250 Right of use assets, net 60,636 77,150 Other noncurrent assets 10,951 12,110 Total assets $ 407,321 $ 499,047 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 148,279 $ 206,588 Accrued liabilities 48,629 43,014 Deferred revenue 26,988 25,614 Line of credit 7,069 7,330 Current portion of long-term debt - 268 Lease liabilities – current 12,608 13,730 Total current liabilities 243,573 296,544 Long-term debt, less current portion - 1,110 Income taxes payable 1,871 1,981 Lease liabilities – noncurrent 53,318 68,126 Other liabilities 2,467 1,894 Total liabilities 301,229 369,655 Stockholders' Equity Common Stock, $0.43696 (1) par value; unlimited shares authorized; 19,478 (1) and 19,021 (1) shares issued and outstanding as of December 31, 2024 and 2023, respectively 8,512 8,312 Additional paid-in capital 289,096 266,774 Notes receivable – related party (15,189 ) (15,189 ) Accumulated other comprehensive income (loss) (2,300 ) 194 Accumulated deficit (174,027 ) (130,699 ) Total stockholders' equity 106,092 129,392 Total liabilities and stockholders' equity $ 407,321 $ 499,047 Expand (1) Retroactively adjusted for the twenty-to-one share combination, effective April 7, 2025 Expand NEWEGG COMMERCE, INC. Consolidated Statements of Operations Years ended December 31, 2024 and 2023 (In thousands, unaudited) 2024 2023 Net sales $ 1,235,576 $ 1,496,963 Cost of sales 1,104,088 1,329,406 Gross profit 131,488 167,557 Selling, general, and administrative expenses 183,039 238,641 Loss from operations (51,551 ) (71,084 ) Interest income 2,721 2,348 Interest expense (952 ) (2,541 ) Other income, net 3,553 2,759 Gain from sales of investment 1,619 6,835 Change in fair value of warrant liabilities 4 11 Loss before provision for income taxes (44,606 ) (61,672 ) Benefit from income taxes (1,278 ) (2,682 ) Net loss $ (43,328 ) $ (58,990 ) Expand NEWEGG COMMERCE, INC. Consolidated Statements of Cash Flows Years ended December 31, 2024 and 2023 (In thousands, unaudited) 2024 2023 Cash flows from operating activities: Net loss $ (43,328 ) $ (58,990 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 10,703 13,437 Allowance for expected credit losses 1,208 245 Provision for obsolete and excess inventory 3,846 3,400 Stock-based compensation 27,255 33,660 Gain from sales of investment (1,619 ) (6,835 ) Change in fair value of warrant liabilities (4 ) (11 ) Loss on disposal of property and equipment 600 180 Unrealized loss on marketable securities 5 4 Deferred income taxes 726 (679 ) Changes in operating assets and liabilities: Accounts receivable 14,473 2,758 Inventories 32,882 16,781 Prepaid expenses (850 ) 3,583 Other assets 17,416 7,086 Accounts payable (57,403 ) (898 ) Accrued liabilities and other liabilities (8,365 ) (12,063 ) Deferred revenue 1,634 (5,497 ) Net cash used in operating activities (821 ) (3,839 ) Cash flows from investing activities: Payments to acquire property and equipment (3,618 ) (30,265 ) Proceeds on disposal of property and equipment 2,194 176 Proceeds from sale of investment 3,869 15,835 Net cash provided by (used in) investing activities 2,445 (14,254 ) Cash flows from financing activities: Borrowings under line of credit 72,479 66,502 Repayments under line of credit (72,474 ) (65,098 ) Repayments of long-term debt (1,325 ) (264 ) Proceeds from exercise of stock options 113 1,194 Payments for employee taxes related to stock compensation (1,343 ) (774 ) Repurchase and retirement of common stock (3,503 ) — Net cash provided by (used in) financing activities (6,053 ) 1,560 Foreign currency effect on cash, cash equivalents and restricted cash (2,303 ) (499 ) Net decrease in cash, cash equivalents and restricted cash (6,732 ) (17,032 ) Cash, cash equivalents and restricted cash: Beginning of period 106,474 123,506 End of period $ 99,742 $ 106,474 Expand Schedule 1 Reconciliation of Net Sales to GMV For the Year Ended December 31, 2024 2023 (in millions) Net Sales $ 1,235.6 $ 1,497.0 Adjustments: GMV - Marketplace 318.6 369.7 Marketplace Commission (25.9 ) (33.6 ) Deferred Revenue 7.1 (5.4 ) Other (1.7 ) (15.2 ) GMV $ 1,533.7 $ 1,812.5 Expand Schedule 2 Reconciliation of Net Income to Adjusted EBITDA For the Year Ended December 31, 2024 2023 (in millions) Net loss $ (43.3 ) $ (59.0 ) Adjustments: Stock-based compensation expenses 27.3 33.7 Interest (income) expense, net (1.7 ) 0.2 Income tax benefit (1.3 ) (2.7 ) Depreciation and amortization 10.7 13.4 Loss from fixed assets disposal 0.5 — Gain from sale of investment (1.6 ) (6.8 ) Gain from change in fair value of warrant liabilities (0.1 ) (0.1 ) Adjusted EBITDA $ (9.5 ) $ (21.3 ) Expand
