| Schedule of Segment Information |
The following tables summarize our segment information for the three and six months ended June 30, 2026 and 2025 (in thousands):
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Three Months Ended June 30, 2026 |
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Six Months Ended June 30, 2026 |
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Marketplace |
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Resale |
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Total |
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Marketplace |
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Resale |
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Total |
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Revenues |
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$ |
103,948 |
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$ |
25,913 |
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$ |
129,861 |
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$ |
201,475 |
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|
$ |
54,169 |
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$ |
255,644 |
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Cost of revenues (exclusive of depreciation and amortization shown separately below) |
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17,460 |
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|
21,182 |
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38,642 |
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34,062 |
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43,775 |
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|
77,837 |
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Marketing and selling: |
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Online advertising |
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50,446 |
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— |
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50,446 |
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97,424 |
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— |
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97,424 |
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Offline advertising |
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2,307 |
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— |
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2,307 |
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|
5,280 |
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— |
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|
5,280 |
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Total marketing and selling |
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52,753 |
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— |
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52,753 |
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|
102,704 |
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— |
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102,704 |
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Contribution margin |
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33,735 |
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|
4,731 |
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38,466 |
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64,709 |
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10,394 |
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|
75,103 |
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General and administrative |
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32,589 |
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65,706 |
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Depreciation and amortization |
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12,318 |
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24,626 |
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Loss from operations |
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(6,441 |
) |
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(15,229 |
) |
Interest expense – net |
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6,055 |
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|
11,986 |
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Other expense – net |
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|
945 |
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|
2,015 |
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Loss before income taxes |
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$ |
(13,441 |
) |
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$ |
(29,230 |
) |
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Three Months Ended June 30, 2025 |
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Six Months Ended June 30, 2025 |
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Marketplace |
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Resale |
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Total |
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Marketplace |
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Resale |
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Total |
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Revenues |
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$ |
114,478 |
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$ |
29,088 |
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$ |
143,566 |
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$ |
248,218 |
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$ |
59,371 |
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$ |
307,589 |
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Cost of revenues (exclusive of depreciation and amortization shown separately below) |
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18,162 |
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|
24,267 |
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|
42,429 |
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39,161 |
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47,793 |
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|
86,954 |
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Marketing and selling: |
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Online advertising |
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48,630 |
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— |
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48,630 |
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107,829 |
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— |
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107,829 |
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Offline advertising |
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5,170 |
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— |
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5,170 |
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|
10,083 |
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— |
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10,083 |
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Total marketing and selling |
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53,800 |
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— |
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53,800 |
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|
117,912 |
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— |
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117,912 |
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Contribution margin |
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42,516 |
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|
4,821 |
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47,337 |
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|
91,145 |
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11,578 |
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|
102,723 |
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General and administrative |
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46,272 |
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|
94,354 |
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Depreciation and amortization |
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12,341 |
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23,966 |
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Impairment charges |
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320,449 |
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320,449 |
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Loss from operations |
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(331,725 |
) |
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(336,046 |
) |
Interest expense – net |
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5,634 |
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|
11,299 |
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Other income – net |
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(150,197 |
) |
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(154,351 |
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Loss on extinguishment of debt |
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— |
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|
801 |
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Loss before income taxes |
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$ |
(187,162 |
) |
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$ |
(193,795 |
) |
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