| Schedule of Net Sales by Revenue Stream, Gross Margin, and Operating Expenses |
The CODM does not use Balance
Sheet information in connection with operating and investment decisions and as such that information is not presented.
| | |
For the Year Ended December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Direct sales revenues (1) | |
$ | 1,394,804 | | |
$ | 1,123,489 | | |
$ | 1,396,624 | |
| Marketplace revenues (2) | |
| 28,611 | | |
| 25,205 | | |
| 32,330 | |
| Services revenues (3) | |
| 21,053 | | |
| 86,882 | | |
| 68,009 | |
| Net sales | |
| 1,444,468 | | |
| 1,235,576 | | |
| 1,496,963 | |
| Gross profit | |
| 168,462 | | |
| 131,488 | | |
| 167,557 | |
| Salary and compensation | |
| 65,320 | | |
| 62,064 | | |
| 88,108 | |
| Credit card fees | |
| 34,429 | | |
| 28,045 | | |
| 35,324 | |
| Marketing expense | |
| 13,042 | | |
| 13,950 | | |
| 12,674 | |
| Professional fees | |
| 7,439 | | |
| 7,719 | | |
| 11,525 | |
| Other operating expenses (4) | |
| 28,530 | | |
| 33,302 | | |
| 43,909 | |
| Total operating expenses | |
| 148,760 | | |
| 145,080 | | |
| 191,540 | |
| Depreciation and amortization | |
| 7,590 | | |
| 10,704 | | |
| 13,441 | |
| Stock based compensation | |
| 21,659 | | |
| 27,255 | | |
| 33,660 | |
| Other income (5) | |
| (4,666 | ) | |
| (8,223 | ) | |
| (12,094 | ) |
| Net loss | |
$ | (4,881 | ) | |
$ | (43,328 | ) | |
$ | (58,990 | ) |
| (1) | Includes all first-party product sales where the Company owns and sells its own inventories within its websites and third-party marketplace platforms. |
| (2) | Includes all the commission revenues earned from sales made by sellers on its websites. |
| (3) | Includes all revenue recognized from providing services to customers, including third-party logistics services, advertising services, and all other third-party seller services. |
| (4) | Consists primarily of warehouse rent, warehouse supplies, software support & subscription, small equipment expenses, and bad debt expenses. |
| (5) | Consists primarily of other non-operating related income, provision for income taxes, gain from sales of investment, interest income/expense, and impairment of equity method investment. |
|
| Schedule of Net Sales by Product Category |
The following table summarizes net
sales by product category (in thousands):
| | |
Year Ended December 31, | |
| Net Sales by Product Category | |
2025 | | |
2024 | | |
2023 | |
| Components & Storage | |
$ | 961,361 | | |
$ | 743,514 | | |
$ | 910,772 | |
| Computer System | |
| 310,728 | | |
| 269,414 | | |
| 327,263 | |
| Software & Services | |
| 63,795 | | |
| 59,097 | | |
| 55,091 | |
| Office Solutions | |
| 59,915 | | |
| 71,083 | | |
| 80,767 | |
| Networking & Smart Home | |
| 36,519 | | |
| 19,999 | | |
| 19,191 | |
| Others | |
| 12,150 | | |
| 72,469 | | |
| 103,879 | |
| Total Net Sales | |
$ | 1,444,468 | | |
$ | 1,235,576 | | |
$ | 1,496,963 | |
|
| Schedule of Revenue and Long-Lived Assets, Net by Geographic Area |
The following tables set forth revenue and long-lived
assets, net by geographic area (in thousands):
| | |
Year Ended December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| United States | |
$ | 1,338,814 | | |
$ | 1,131,697 | | |
$ | 1,362,423 | |
| Canada | |
| 96,215 | | |
| 90,037 | | |
| 114,948 | |
| Rest of world | |
| 9,439 | | |
| 13,842 | | |
| 19,592 | |
| Total | |
$ | 1,444,468 | | |
$ | 1,235,576 | | |
$ | 1,496,963 | |
| | |
As of December 31, | |
| | |
2025 | | |
2024 | |
| United States | |
$ | 29,472 | | |
$ | 33,391 | |
| Canada | |
| 55 | | |
| 51 | |
| Rest of world | |
| 15,481 | | |
| 17,733 | |
| Total | |
$ | 45,008 | | |
$ | 51,175 | |
|