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Unaudited Condensed Consolidated Income Statements - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue        
Total Revenue $ 231,358 $ 219,419 $ 665,846 $ 691,119
Cost of revenue        
Total Cost of revenue [1] 48,807 55,121 125,890 207,700
Gross profit 182,551 164,298 539,956 483,419
Operating expenses:        
Sales and marketing 81,216 76,828 245,801 230,243
Product, technology, and development 36,359 35,434 108,484 109,432
General and administrative 28,187 24,904 83,682 77,090
Goodwill and other asset impairment 7,026 0 134,501 0
Depreciation and amortization 2,329 4,037 7,354 11,762
Total operating expenses 155,117 141,203 579,822 428,527
Income (loss) from operations 27,434 23,095 (39,866) 54,892
Other income, net:        
Interest income 2,717 5,261 9,063 13,337
Other (expense) income, net (94) (1,094) 122 (152)
Total other income, net 2,623 4,167 9,185 13,185
Income (loss) before income taxes 30,057 27,262 (30,681) 68,077
Provision for (benefit from) income taxes 7,546 8,289 (5,772) 23,421
Consolidated net income (loss) 22,511 18,973 (24,909) 44,656
Net loss attributable to redeemable noncontrolling interest 0 (3,329) 0 (10,191)
Net income (loss) attributable to common stockholders $ 22,511 $ 22,302 $ (24,909) $ 54,847
Net income (loss) per share attributable to common stockholders: (Note 11)        
Basic $ 0.22 $ 0.2 $ (0.24) $ 0.48
Diluted $ 0.21 $ 0.17 $ (0.24) $ 0.39
Weighted-average number of shares of common stock used in computing net income (loss) per share attributable to common stockholders:        
Basic 103,321,988 113,223,711 104,769,518 113,998,928
Diluted 105,059,283 114,322,279 104,769,518 114,901,736
Marketplace        
Revenue        
Total Revenue $ 204,019 $ 177,909 $ 586,405 $ 515,986
Cost of revenue        
Total Cost of revenue [1] 13,521 14,823 41,051 45,830
Wholesale        
Revenue        
Total Revenue 12,107 21,735 41,351 78,873
Cost of revenue        
Total Cost of revenue [1],[2] 20,415 21,284 47,272 67,780
Product        
Revenue        
Total Revenue 15,232 19,775 38,090 96,260
Cost of revenue        
Total Cost of revenue [1] $ 14,871 $ 19,014 $ 37,567 $ 94,090
[1] Includes depreciation and amortization expense for the three months ended September 30, 2024 and 2023 and for the nine months ended September 30, 2024 and 2023 of $2,849, $8,433, $10,968, and $23,951, respectively.
[2] Includes impairment of other assets for the three months ended September 30, 2024 of $9,750. There was no impairment of other assets for the three months ended September 30, 2023. Includes impairment of other assets for the nine months ended September 30, 2024 and 2023 of $9,930 and $184, respectively.