| Schedule of Segment Information |
The following tables summarize our segment information for the three months ended March 31, 2026 and 2025 (in thousands):
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Three Months Ended March 31, 2026 |
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Marketplace |
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Resale |
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Total |
|
Revenues |
|
$ |
97,526 |
|
|
$ |
28,257 |
|
|
$ |
125,783 |
|
Cost of revenues (exclusive of depreciation and amortization shown separately below) |
|
|
16,602 |
|
|
|
22,593 |
|
|
|
39,195 |
|
Marketing and selling: |
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|
|
|
|
|
|
|
|
Online advertising |
|
|
46,977 |
|
|
|
— |
|
|
|
46,977 |
|
Offline advertising |
|
|
2,974 |
|
|
|
— |
|
|
|
2,974 |
|
Total marketing and selling |
|
|
49,951 |
|
|
|
— |
|
|
|
49,951 |
|
Contribution margin |
|
|
30,973 |
|
|
|
5,664 |
|
|
|
36,637 |
|
General and administrative |
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|
|
|
|
|
|
|
33,117 |
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
12,308 |
|
Loss from operations |
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|
|
|
|
|
|
|
(8,788 |
) |
Interest expense – net |
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|
|
|
|
|
|
|
5,931 |
|
Other expense – net |
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|
|
|
|
|
|
|
1,070 |
|
Loss before income taxes |
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|
|
|
|
|
|
$ |
(15,789 |
) |
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|
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Three Months Ended March 31, 2025 |
|
|
|
Marketplace |
|
|
Resale |
|
|
Total |
|
Revenues |
|
$ |
133,740 |
|
|
$ |
30,283 |
|
|
$ |
164,023 |
|
Cost of revenues (exclusive of depreciation and amortization shown separately below) |
|
|
20,999 |
|
|
|
23,526 |
|
|
|
44,525 |
|
Marketing and selling: |
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|
|
|
|
|
|
|
|
Online advertising |
|
|
59,199 |
|
|
|
— |
|
|
|
59,199 |
|
Offline advertising |
|
|
4,913 |
|
|
|
— |
|
|
|
4,913 |
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Total marketing and selling |
|
|
64,112 |
|
|
|
— |
|
|
|
64,112 |
|
Contribution margin |
|
|
48,629 |
|
|
|
6,757 |
|
|
|
55,386 |
|
General and administrative |
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|
|
|
|
|
|
|
48,082 |
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
11,625 |
|
Loss from operations |
|
|
|
|
|
|
|
|
(4,321 |
) |
Interest expense – net |
|
|
|
|
|
|
|
|
5,665 |
|
Other income – net |
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|
|
|
|
|
|
|
(4,154 |
) |
Loss on extinguishment of debt |
|
|
|
|
|
|
|
|
801 |
|
Loss before income taxes |
|
|
|
|
|
|
|
$ |
(6,633 |
) |
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