Nogin, Inc.

nogin.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 22, 2023. Its latest SEC filing is a SC 13G/A from Nov 14, 2024.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Provides an e-commerce platform and related services that help brands and retailers run online storefronts, manage orders, and fulfill purchases.

How Did They Make Money?

Nogin mainly earns commissions tied to gross revenue processed through customers’ stores on its platform. It also earns revenue from product and shipping sales at the point of sale, marketing and other services when performed, and rental-space fulfillment over time.

FY2022 revenue

Who Were Their Customers?

Brands and retailers in apparel and other consumer-product markets use the platform for online and multichannel commerce. Nogin sells directly through its enterprise sales team.

Customers above 10% of revenue, FY2022

of revenue from three customers (29%, 16%, 9%)

FY2021: 62% from three customers

Did Revenues Turn Into Profits?

No. It lost $52.7M in FY2022.

Operating income, FY2022

−42% of revenue

▲ +538% (Loss) vs FY2021 (−$6.3M, −6%)

Net income, FY2022

−56% of revenue

▲ +81017% (Loss) vs FY2021 (−$65K, 0%)

Free cash flow, FY2022

−30% of revenue

▲ +22% (Loss) vs FY2021 (−$23.2M, −23%)

How Were They Changing?

Since the FY2022 annual report

Latest quarter: Q3 FY2023, the three months to Sep 30, 2023

Revenue: ▼ −48%; vs $21M in Q3 FY2022
Net income: ▼ −51% (Loss); vs −$28.9M in Q3 FY2022

May 9, 2024 Purchaser acquired the reorganized equity in Nogin Commerce The restructuring plan took effect, and existing company shares and related options and warrants were cancelled for no value.
Apr 3, 2024 Court confirmed the bankruptcy restructuring plan The plan provides for existing shares to be cancelled and describes recoveries for creditors.
Mar 27, 2024 Grant Thornton resigned as the company’s auditor Grant Thornton resigned as the independent registered public accounting firm.
Dec 19, 2023 Nasdaq determined the common stock would be delisted Trading of the company’s common stock and warrants was set to be suspended.

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