v3.26.1
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Information [Abstract]  
Segment Information
17. Segment Information

 

The Company’s Chief Executive Officer, who is the chief operating decision maker (“CODM”), manages resource allocations, measures performances, reviews financial information presented on a consolidated basis. There are no segment managers who are held accountable for operations, operating results and plans for levels or components below the consolidated unit level. The Company considers itself to be operating within one reportable segment.

On a monthly basis, the CODM considers net sales by revenue stream, gross margin, and operating expenses (excluding stock based compensation and depreciation and amortization) when making decisions about allocating capital and personnel-related resources to the reporting segment. 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.

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 

 

Geographic Information

 

Revenue by geography is based on where the customer is located. Long-lived assets, net includes property and equipment, net. 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