Revenue

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

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 March 31,
	2024		2023
Auction marketplace revenue	$	67,329	$	54,002
Other marketplace revenue	54,569		42,691
Data services revenue	7,916		8,170
Marketplace and service revenue	$	129,814	$	104,863

Contract liabilities represent consideration collected prior to satisfying performance obligations. The Company had $5.4 million and $4.2 million of contract liabilities included in Accrued other liabilities on the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023, respectively. Revenue recognized for the three months ended March 31, 2024 from amounts included in deferred revenue as of December 31, 2023 was $4.2 million. All the remaining performance obligations for contracts are expected to be recognized within one year.