v3.25.4
REVENUE RECOGNITION
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
See Note 19, Segment and Geographical Information, for revenue summarized by reportable segment and category.
Contract Balances
As of December 31, 2024 and 2023, our deferred revenue was $4.1 million and $2.7 million and primarily related to Giftcloud gift card revenue which was recognized upon customer redemption. As a result of the sale of Giftcloud during the second quarter 2025, our deferred revenue was immaterial as of December 31, 2025. All deferred revenue was recognized in the following annual period for the respective year-end.
Customer Credits
The following table summarizes the activity in the liability for customer credits for the years ended December 31, 2025 and 2024 (in thousands):
Customer Credits
Balance as of December 31, 2023$26,595 
Credits issued67,373 
Credits redeemed (1)
(66,354)
Breakage revenue recognized
(5,111)
Foreign currency translation(154)
Balance as of December 31, 2024$22,349 
Credits issued99,040 
Credits redeemed (1)
(87,987)
Breakage revenue recognized
(7,765)
Foreign currency translation305 
Balance as of December 31, 2025$25,942 
(1)Customer credits can be redeemed through our online marketplaces for goods or services provided by a third-party merchant and revenue is recognized on a net basis as the difference between the carrying amount of the customer credit liability derecognized and the amount due to the merchant for the related transaction. Customer credits are typically used within one year of issuance.
Cost of Obtaining Contracts
Deferred contract acquisition costs are presented in Prepaid expenses and other current assets and Other non-current assets on the Consolidated Balance Sheets. As of December 31, 2025 and 2024, deferred contract acquisition costs were $5.4 million and $4.2 million.

The amortization of deferred contract acquisition costs is classified within Selling, general and administrative expense in the Consolidated Statements of Operations. For the years ended December 31, 2025, 2024 and 2023, we amortized $6.7 million, $5.9 million and $7.9 million of deferred contract acquisition costs.
Allowance for Expected Credit Losses on Accounts Receivable
The following table summarizes the activity in the allowance for expected credit losses on accounts receivables for the years ended December 31, 2025 and 2024 (in thousands):
Allowance for Expected Credit Losses
Balance as of December 31, 2023$2,856 
Change in provision(71)
Write-offs(106)
Foreign currency translation(6)
Balance as of December 31, 2024$2,673 
Change in provision(32)
Write-offs(31)
Foreign currency translation37 
Balance as of December 31, 2025$2,647 
Variable Consideration for Unredeemed Vouchers
During the years ended December 31, 2025, 2024, and 2023, we recognized $4.4 million, $9.9 million, and $6.1 million of variable consideration from unredeemed vouchers that were sold in a prior year. When actual redemptions differ from our estimates, the effects could be material to the Consolidated Financial Statements.