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Segment and Geographic Information - Summary of Segment Revenue, Significant Segment Expenses, Segment Depreciation And Amortization, Segment Income (Loss) From Operations, And The Reconciliation From Segment Income (Loss) From Operations To Consolidated Income Before Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2025 | Jun. 30, 2024 | Jun. 30, 2025 | Jun. 30, 2024
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |
Total Revenue |  | $ 234,033 |  | $ 218,692 |  | $ 459,191 |  | $ 434,488 |
Cost of revenue | [1] | 29,651 |  | 36,248 |  | 55,102 |  | 77,083 |
Sales and marketing |  | 84,337 |  | 82,311 |  | 171,053 |  | 164,585 |
Depreciation and amortization |  | 4,136 |  | 2,233 |  | 8,342 |  | 5,025 |
Total segment expenses |  | 179,538 |  | 276,028 |  | 333,490 |  | 424,705 |
Other operating income |  | 3,123 |  | 2,531 |  | 4,876 |  | 4,938 |
Income (loss) from operations |  | 24,844 |  | (93,584) |  | 70,599 |  | (67,300) |
Other income, net |  | 2,564 |  | 3,161 |  | 5,360 |  | 6,562 |
Income (loss) before income taxes |  | 27,408 |  | (90,423) |  | 75,959 |  | (60,738) |
Operating Segment |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |
Total Revenue |  | 214,687 |  | 203,577 |  | 422,838 |  | 405,142 |
Cost of revenue |  | 28,074 | [2],[3] | 35,161 | [4],[5] | 52,157 | [6],[7] | 75,048 | [8],[9]
Sales and marketing |  | 71,770 |  | 72,608 |  | 147,329 |  | 145,501 |
Depreciation and amortization |  | 4,055 |  | 2,156 |  | 8,187 |  | 4,871 |
Other segment items |  | 89,067 | [10] | 189,767 | [11] | 149,442 | [12] | 251,960 | [13]
Total segment expenses |  | 192,966 |  | 299,692 |  | 357,115 |  | 477,380 |
Total segment income (loss) from operations |  | 21,721 |  | (96,115) |  | 65,723 |  | (72,238) |
Other Revenue |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |
Total Revenue |  | 19,346 |  | 15,115 |  | 36,353 |  | 29,346 |
U.S. Marketplace | Operating Segment |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |
Total Revenue |  | 202,652 |  | 180,052 |  | 397,880 |  | 353,040 |
Cost of revenue |  | 13,984 | [2],[3] | 12,058 | [4],[5] | 26,864 | [6],[7] | 25,495 | [8],[9]
Sales and marketing |  | 69,759 |  | 67,506 |  | 141,989 |  | 134,514 |
Depreciation and amortization |  | 3,581 |  | 1,356 |  | 7,230 |  | 2,984 |
Other segment items |  | 56,566 | [10] | 57,089 | [11] | 113,254 | [12] | 113,787 | [13]
Total segment expenses |  | 143,890 |  | 138,009 |  | 289,337 |  | 276,780 |
Total segment income (loss) from operations |  | 58,762 |  | 42,043 |  | 108,543 |  | 76,260 |
Digital Wholesale | Operating Segment |  |  |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |  |  |
Total Revenue |  | 12,035 |  | 23,525 |  | 24,958 |  | 52,102 |
Cost of revenue |  | 14,090 | [2],[3] | 23,103 | [4],[5] | 25,293 | [6],[7] | 49,553 | [8],[9]
Sales and marketing |  | 2,011 |  | 5,102 |  | 5,340 |  | 10,987 |
Depreciation and amortization |  | 474 |  | 800 |  | 957 |  | 1,887 |
Other segment items |  | 32,501 | [10] | 132,678 | [11] | 36,188 | [12] | 138,173 | [13]
Total segment expenses |  | 49,076 |  | 161,683 |  | 67,778 |  | 200,600 |
Total segment income (loss) from operations |  | $ (37,041) |  | $ (138,158) |  | $ (42,820) |  | $ (148,498) |
[1] | Includes depreciation and amortization expense for the three months ended June 30, 2025 and 2024 and for the six months ended June 30, 2025 and 2024 of $2,546, $3,430, $4,894, and $8,119, respectively.
[2] | For the three months ended June 30, 2025, Digital Wholesale cost of revenue includes impairment of $2,919. For further discussion of impairments, refer to Note 6 of the Unaudited Condensed Consolidated Financial Statements.
[3] | For the three months ended June 30, 2025, U.S. Marketplace and Digital Wholesale cost of revenue includes depreciation and amortization expense of $1,864 and $455, respectively.
[4] | For the three months ended June 30, 2024, Digital Wholesale cost of revenue includes impairment of $180. For further discussion of impairments, refer to Note 6 of the consolidated financial statements contained within the Annual Report.
[5] | For the three months ended June 30, 2024, U.S. Marketplace and Digital Wholesale cost of revenue includes depreciation and amortization expense of $631 and $2,636, respectively.
[6] | For the six months ended June 30, 2025, Digital Wholesale cost of revenue includes impairment of $2,919. For further discussion of impairments, refer to Note 6 of the Unaudited Condensed Consolidated Financial Statements.
[7] | For the six months ended June 30, 2025, U.S. Marketplace and Digital Wholesale cost of revenue includes depreciation and amortization expense of $3,550 and $880, respectively.
[8] | For the six months ended June 30, 2024, U.S. Marketplace and Digital Wholesale cost of revenue includes depreciation and amortization expense of $2,000 and $5,830, respectively.
[9] | For the six months ended June 30, 2024, Digital Wholesale cost of revenue includes impairment expense of $180. For further discussion of impairments, refer to Note 6 of the consolidated financial statements contained within the Annual Report.
[10] | For the three months ended June 30, 2025, Digital Wholesale other segment items includes impairment of $29,633. For further discussion of impairments, refer to Note 6 of the Unaudited Condensed Consolidated Financial Statements.
[11] | For the three months ended June 30, 2024, Digital Wholesale other segment items includes impairment of $127,475. For further discussion of impairments, refer to Note 6 of the consolidated financial statements contained within the Annual Report.
[12] | For the six months ended June 30, 2025, Digital Wholesale other segment items includes impairment of $29,633. For further discussion of impairments, refer to Note 6 of the Unaudited Condensed Consolidated Financial Statements.
[13] | For the six months ended June 30, 2024, Digital Wholesale other segment items includes impairment of $127,475. For further discussion of impairments, refer to Note 6 of the consolidated financial statements contained within the Annual Report.

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