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Impairments (Tables)
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Other Intangible Assets

As of June 30, 2025 and December 31, 2024, intangible assets consisted of the following:

 

 

 

As of June 30, 2025

 

 

 

Weighted
Average
Remaining
Useful Life
(years)

 

 

Gross
Carrying
Amount (1)

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Brand

 

 

3.5

 

 

$

18,112

 

 

$

13,809

 

 

$

4,303

 

Customer relationships

 

 

—

 

 

 

19,870

 

 

 

19,870

 

 

 

—

 

Developed technology

 

 

—

 

 

 

64,565

 

 

 

64,565

 

 

 

—

 

Total

 

 

 

 

$

102,547

 

 

$

98,244

 

 

$

4,303

 
(1)
During the six months ended June 30, 2025, the Company recorded $6,624 of impairment charges for the brand intangible asset related to the CarOffer reporting unit in the Digital Wholesale segment and accordingly adjusted the gross carrying amount of the asset.

 

 

 

As of December 31, 2024

 

 

 

Weighted
Average
Remaining
Useful Life
(years)

 

 

Gross
Carrying
Amount (1)

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Brand

 

 

6.1

 

 

$

24,559

 

 

$

12,792

 

 

$

11,767

 

Customer relationships

 

 

—

 

 

 

19,870

 

 

 

19,870

 

 

 

—

 

Developed technology

 

 

—

 

 

 

64,565

 

 

 

64,565

 

 

 

—

 

Total

 

 

 

 

$

108,994

 

 

$

97,227

 

 

$

11,767

 
(1)
During the year ended December 31, 2024, the Company recorded $7,538 of impairment charges for the brand intangible asset related to the CarOffer reporting unit in the Digital Wholesale segment and accordingly adjusted the gross carrying amount of the asset.
Summary of Estimated Amortization Expense of Intangible Assets

As of June 30, 2025, estimated amortization expense of intangible assets for future periods is as follows:

 

Year Ending December 31,

 

Amortization
Expense

 

Remainder of 2025

 

$

1,054

 

2026

 

 

957

 

2027

 

 

957

 

2028

 

 

957

 

2029

 

 

368

 

Thereafter

 

 

10

 

Total

 

$

4,303

 
Summary of Changes in Carrying Value of Goodwill

As of June 30, 2025, changes in the carrying value of goodwill are as follows:

 

 

 

U.S. Marketplace

 

 

Digital Wholesale

 

 

Other

 

 

Total

 

Balance as of December 31, 2024

 

$

12,477

 

 

$

19,568

 

 

$

14,122

 

 

$

46,167

 

Impairment of goodwill

 

 

—

 

 

 

(19,568

)

 

 

—

 

 

 

(19,568

)

Foreign currency translation adjustment

 

 

—

 

 

 

—

 

 

 

1,771

 

 

 

1,771

 

Balance as of June 30, 2025

 

$

12,477

 

 

$

—

 

 

$

15,893

 

 

$

28,370

 
Summary of Impairments

For the three months ended June 30, 2025 and 2024 and for the six months ended June 30, 2025 and 2024, impairments consisted of the following:

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Cost of Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized website development

 

$

2,919

 

 

$

180

 

 

$

2,919

 

 

$

180

 

Total impairments in cost of revenue

 

$

2,919

 

 

$

180

 

 

$

2,919

 

 

$

180

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Expense

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized hosting arrangements

 

$

291

 

 

$

—

 

 

$

291

 

 

$

—

 

Capitalized internal-use software

 

 

769

 

 

 

—

 

 

 

769

 

 

 

—

 

Capitalized website development

 

 

1,882

 

 

 

—

 

 

 

1,882

 

 

 

—

 

Intangible assets

 

 

6,624

 

 

 

7,538

 

 

 

6,624

 

 

 

7,538

 

Goodwill

 

 

19,568

 

 

 

115,206

 

 

 

19,568

 

 

 

115,206

 

Right-of-use assets

 

 

499

 

 

 

4,731

 

 

 

499

 

 

 

4,731

 

Total impairments in operating expense

 

$

29,633

 

 

$

127,475

 

 

$

29,633

 

 

$

127,475

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

32,552

 

 

$

127,655

 

 

$

32,552

 

 

$

127,655