RELATED PARTY TRANSACTIONS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS Andro Capital (“Andro”) is a seller on the Company’s platform and, in the normal course of business, has engaged the Company to list, price and fulfill its tickets on its behalf. The Company’s CEO has an ownership stake in both the Company and Andro. The Company did not generate seller fees from tickets sold by Andro during the six months ended June 30, 2026 and 2025. As of June 30, 2026 and December 31, 2025, zero and $0.1 million, respectively, were due to Andro in proceeds related to tickets it had sold on the Company’s platform. On July 17, 2024, the Company entered into a program agreement (as amended or supplemented from time to time, the “Program Agreement”) with Colloquy Capital LLC (“Colloquy”), an affiliate of Andro. Under the terms of the Program Agreement, the Company refers certain sellers of the Company to Colloquy for the opportunity to enter into separate financing arrangements with Colloquy. Under such arrangements, it is anticipated that Colloquy may provide short-term financing to sellers based on those sellers’ existing and/or future expected proceeds generated through ticket sales on the Company's platform. Pursuant to each seller’s agreement with Colloquy, the Company will disburse to Colloquy a percentage of the seller’s proceeds as agreed upon as consideration for the financing provided by Colloquy to the relevant seller. No fees are payable under this agreement by the Company or Colloquy. As of June 30, 2026 and December 31, 2025, the Program Agreement resulted in Colloquy obtaining a security interest of $10.8 million and $7.9 million, respectively, in the sellers’ proceeds related to tickets sold on the Company’s platform. On March 20, 2025, the Company entered into a separate services agreement with Colloquy, pursuant to which the Company helps facilitate the sale and servicing of tickets owned by Colloquy in return for a fee based on a percentage of revenue collected for the sale of those tickets, which ended on November 1, 2025. On June 25, 2026, the Company entered into another services agreement with Colloquy with substantially similar terms and conditions as the services agreement entered into in 2025. As of June 30, 2026 and December 31, 2025, $3.5 million and $0.8 million, respectively, was due to Colloquy in proceeds related to tickets sold under the services agreements as well as the Company’s disbursement of the sellers’ proceeds under the Program Agreement. The Company generated $0.6 million in fees associated with the services agreement during the three and six months ended June 30, 2026.
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