v3.26.1
Sale of Business (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Major Classes of Assets and Liabilities Sold
The following table summarizes the major line items for Depop that are included in the net loss from discontinued operations in the Consolidated Statements of Operations (in thousands):
Three Months Ended 
 June 30,		Six Months Ended
June 30,
2026202520262025
Revenue$76,415 $43,532 $136,153 $82,504 
Cost of revenue35,833 24,926 68,038 49,185 
Gross profit40,582 18,606 68,115 33,319 
Operating expenses:
Marketing170,216 21,056 212,270 38,204 
Product development14,756 12,536 27,930 22,236 
General and administrative15,679 2,685 24,521 9,005 
Total operating expenses200,651 36,277 264,721 69,445 
Loss from discontinued operations(160,069)(17,671)(196,606)(36,126)
Other (expense) income, net(700)(88)28 (365)
Loss from discontinued operations before income taxes(160,769)(17,759)(196,578)(36,491)
(Provision) benefit for income taxes(220)961 607 2,684 
Net loss from discontinued operations$(160,989)$(16,798)$(195,971)$(33,807)
The following table summarizes the carrying amounts of major classes of assets and liabilities of Depop’s discontinued operations (in thousands):
As of June 30,
2026		As of December 31,
2025
Assets
Cash and cash equivalents$130,302 $40,408 
Prepaid and other current assets15,08313,414 
Property and equipment, net28,91623,645 
Intangible assets, net275,447282,841 
Other assets671740 
Total assets$450,419 $361,048 
Liabilities
Accrued expenses$70,579 $50,815 
Other current liabilities5,6261,459 
Other liabilities— 1,107 
Total liabilities$76,205 $53,381 
The major classes of assets and liabilities sold consisted of the following (in thousands):
As of June 2, 2025
Assets
Current assets:
Cash and cash equivalents$9,212 
Funds receivable and seller accounts19,861 
Other current assets4,448 
Total current assets 33,521 
Property and equipment, net17,372 
Intangible assets, net107,390 
Other assets2,344 
Total assets$160,627 
Liabilities
Current liabilities:
Funds payable and amounts due to sellers$19,814 
Other current liabilities11,391 
Total current liabilities31,205 
Deferred tax liabilities13,319 
Other liabilities2,779 
Total liabilities $47,303