BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Summary of Information About Reportable Segments

The following table summarizes information about reportable segments and a reconciliation to consolidated net income (loss) (in thousands):

	Three months ended September 30,
	Retail			tZERO			MVI			Other			Total
2020
Net revenue	$	717,695		$	11,151		$	2,805		$	—		$	731,651
Cost of goods sold	548,982			9,098			2,803			—			560,883
Gross profit	168,713			2,053			2			—			170,768
Operating expenses	125,458			10,613			2,923			2,225			141,219
Interest and other expense, net (1)	(205		)	(3,848		)	(3,650		)	—			(7,703		)
Income (loss) before income taxes	$	43,050		$	(12,408	)	$	(6,571	)	$	(2,225	)	21,846
Provision for income taxes													620
Net income (2)													$	21,226
2019
Net revenue	$	340,798		$	5,662		$	639		$	—		$	347,099
Cost of goods sold	272,545			4,367			639			—			277,551
Gross profit	68,253			1,295			—			—			69,548
Operating expenses	77,641			14,114			4,427			3,496			99,678
Interest and other income (expense), net (1)	137			(475		)	(4,057		)	6			(4,389		)
Loss before income taxes	$	(9,251	)	$	(13,294	)	$	(8,484	)	$	(3,490	)	(34,519		)
Provision for income taxes													23
Net loss (2)													$	(34,542	)

	Nine months ended September 30,
	Retail			tZERO			MVI			Other			Total
2020
Net revenue	$	1,824,249		$	34,127		$	7,230		$	162		$	1,865,768
Cost of goods sold	1,403,418			28,634			7,226			—			1,439,278
Gross profit	420,831			5,493			4			162			426,490
Operating expenses	333,284			34,087			8,374			8,297			384,042
Interest and other income (expense), net (1)	(621		)	(6,898		)	2,423			3			(5,093		)
Income (loss) before income taxes	$	86,926		$	(35,492	)	$	(5,947	)	$	(8,132	)	37,355
Provision for income taxes													1,313
Net income (2)													$	36,042
2019
Net revenue	$	1,070,898		$	15,709		$	1,930		$	—		$	1,088,537
Cost of goods sold	858,169			11,867			1,930			—			871,966
Gross profit	212,729			3,842			—			—			216,571
Operating expenses	244,571			41,410			11,583			10,933			308,497
Interest and other income (expense), net (1)	312			(1,098		)	(12,068		)	(1		)	(12,855		)
Loss before income taxes	$	(31,530	)	$	(38,666	)	$	(23,651	)	$	(10,934	)	(104,781		)
Provision for income taxes													279
Net loss (2)													$	(105,060	)

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(1)  — Excludes intercompany transactions eliminated in consolidation, which consist primarily of service fees and interest. The net amounts of these intercompany transactions were $1.3 million and $739,000 for the three months ended September 30, 2020 and 2019, and $3.6 million and $1.7 million for the nine months ended September 30, 2020 and 2019.

(2)

 — Net income (loss) presented for segment reporting purposes is before any adjustments attributable to noncontrolling interests.