Revenue

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

7.Revenue

The following table summarizes the primary components of revenue; this level of disaggregation takes into consideration how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors (in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Auction marketplace revenue	$	51,390	$	41,748	$	159,911	$	133,790
Other marketplace revenue		45,012		40,484		134,251		118,276
Data services revenue		8,135		8,620		24,598		24,885
Marketplace and service revenue	$	104,537	$	90,852	$	318,760	$	276,951

Contract liabilities represent consideration collected prior to satisfying performance obligations. The Company had $4.1 million and $3.8 million of contract liabilities included in Accrued other liabilities on the Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022, respectively. Revenue recognized for the three months ended September 30, 2023 from amounts included in deferred revenue as of June 30, 2023 was $4.0 million. Revenue recognized for the nine months ended September 30, 2023 from amounts included in deferred revenue as of December 31, 2022 was $3.8 million. All the remaining performance obligations for contracts are expected to be recognized within one year.