v3.26.1
Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Summary of Major Classes of Income Statements from Discontinued Operations

For the three and six months ended June 30, 2025, major classes of discontinued operations included in the Unaudited Condensed Consolidated Income Statements were as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2025

 

 

 

(dollars in thousands)

 

Revenue

 

$

12,035

 

 

$

24,958

 

Cost of revenue

 

 

13,974

 

 

 

25,082

 

Gross profit

 

 

(1,939

)

 

 

(124

)

Operating expenses

 

 

 

 

 

 

Sales and marketing

 

 

1,750

 

 

 

4,797

 

Product, technology, and development

 

 

645

 

 

 

1,867

 

General and administrative

 

 

1,796

 

 

 

3,791

 

Impairments

 

 

29,134

 

 

 

29,134

 

Depreciation and amortization

 

 

441

 

 

 

891

 

Total operating expenses

 

 

33,766

 

 

 

40,480

 

Loss from discontinued operations before income taxes

 

 

(35,705

)

 

 

(40,604

)

Benefit from income taxes

 

 

(9,059

)

 

 

(10,929

)

Net loss from discontinued operations, net of tax benefits

 

$

(26,646

)

 

$

(29,675

)

 

 

 

 

 

 

 

Net loss from discontinued operations per share (Note 11)

 

 

 

 

 

 

Basic

 

$

(0.27

)

 

$

(0.29

)

Diluted(1)

 

$

(0.27

)

 

$

(0.29

)

Weighted-average number of shares of common stock used in computing net loss per share attributable to common stockholders

 

 

 

 

 

 

Basic

 

 

98,889,893

 

 

 

100,980,676

 

Diluted

 

 

100,184,067

 

 

 

102,614,441

 
(1)
Diluted earnings per share from discontinued operations is calculated using the net income from continuing operations to determine the denominator, in accordance with applicable guidance.
Summary of Significant Non-cash Items and Capital Expenditures of Discontinued Operations

The Company has elected to present its Unaudited Condensed Consolidated Statement of Cash Flows on a consolidated basis, inclusive of discontinued operations activity in the table below. For the six months ended June 30, 2025, the following table presents significant non-cash items and capital expenditures of the discontinued operations for the period presented:

 

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

 

(dollars in thousands)

 

Depreciation and amortization

 

$

1,771

 

Capitalized expenditures

 

$

(1,727

)

Impairments(1)

 

$

32,053

 

Stock–based compensation expense

 

$

1,025

 
(1)
During the six months ended June 30, 2025, the Company recognized impairments related to CarOffer of $0.3 million, $0.8 million, $4.8 million, $6.6 million, and $19.6 million for capitalized hosting arrangements, capitalized internal-use software, capitalized website development costs, intangible assets, and goodwill, respectively.
A