v3.26.1
Condensed Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Total revenue $ 192,571 $ 165,188 $ 382,286 $ 325,221
Cost of revenue:        
Total cost of revenue 49,369 42,512 97,750 82,522
Gross profit 143,202 122,676 284,536 242,699
Operating expenses:        
Marketing 18,382 15,548 36,939 31,403
Operations and technology 74,706 68,986 147,425 135,964
Selling, general and administrative 52,397 48,027 104,729 97,988
Total operating expenses 145,485 132,561 289,093 265,355
Loss from operations (2,283) (9,885) (4,557) (22,656)
Change in fair value of warrant liability (18,583) 4,537 28,752 47,040
Gain on extinguishment of debt 0 0 0 37,101
Interest income 902 1,109 1,903 2,483
Interest expense (7,322) (7,038) (14,543) (13,358)
Other income, net 154 0 357 608
Income (loss) before provision for income taxes (27,132) (11,277) 11,912 51,218
Provision for income taxes 101 89 209 184
Net income (loss) attributable to common stockholders $ (27,233) $ (11,366) $ 11,703 $ 51,034
Net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ (0.23) $ (0.10) $ 0.10 $ 0.45
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ (0.23) $ (0.13) $ (0.13) $ (0.27)
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, basic (in share) 121,023,931 114,044,057 120,277,907 113,046,607
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, diluted (in share) 121,023,931 119,484,716 126,390,826 120,178,570
Consignment revenue        
Revenue:        
Total revenue $ 148,216 $ 128,620 $ 294,109 $ 252,434
Cost of revenue:        
Total cost of revenue 16,075 13,761 31,522 26,715
Direct revenue        
Revenue:        
Total revenue 25,787 20,495 51,595 40,949
Cost of revenue:        
Total cost of revenue 20,407 17,185 40,691 32,420
Shipping services revenue        
Revenue:        
Total revenue 18,568 16,073 36,582 31,838
Cost of revenue:        
Total cost of revenue $ 12,887 $ 11,566 $ 25,537 $ 23,387