XML 38 R29.htm IDEA: XBRL DOCUMENT v3.25.3
Impairments (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Other Intangible Assets

As of September 30, 2025 and December 31, 2024, intangible assets, exclusive of assets that have been retired, consisted of the following:

 

 

 

As of September 30, 2025

 

 

 

Weighted
Average
Remaining
Useful Life
(years)

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Brand

 

 

3.7

 

 

$

9,178

 

 

$

(5,685

)

 

$

3,493

 

Customer relationships

 

 

—

 

 

 

1,870

 

 

 

(1,870

)

 

 

—

 

Developed technology

 

 

—

 

 

 

1,565

 

 

 

(1,565

)

 

 

—

 

Total

 

 

 

 

$

12,613

 

 

$

(9,120

)

 

$

3,493

 

 

 

 

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

 

Year Ending December 31,

 

Amortization
Expense

 

Remainder of 2025

 

$

240

 

2026

 

 

959

 

2027

 

 

959

 

2028

 

 

959

 

2029

 

 

368

 

Thereafter

 

 

8

 

Total

 

$

3,493

 
Summary of Changes in Carrying Value of Goodwill

As of September 30, 2025, changes in the carrying value of goodwill were 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

 

 

—

 

 

 

—

 

 

 

1,810

 

 

 

1,810

 

Balance as of September 30, 2025

 

$

12,477

 

 

$

—

 

 

$

15,932

 

 

$

28,409

 
Summary of Impairments

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

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Cost of Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized website development

 

$

—

 

 

$

9,750

 

 

$

2,919

 

 

$

9,930

 

Total impairments in cost of revenue

 

$

—

 

 

$

9,750

 

 

$

2,919

 

 

$

9,930

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Expense

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized hosting arrangements

 

$

—

 

 

$

974

 

 

$

291

 

 

$

974

 

Capitalized internal-use software

 

 

—

 

 

 

—

 

 

 

769

 

 

 

—

 

Capitalized website development

 

 

—

 

 

 

5,833

 

 

 

1,882

 

 

 

5,833

 

Intangible assets

 

 

—

 

 

 

—

 

 

 

6,624

 

 

 

7,538

 

Goodwill

 

 

—

 

 

 

—

 

 

 

19,568

 

 

 

115,206

 

Right-of-use assets

 

 

—

 

 

 

—

 

 

 

499

 

 

 

4,731

 

Furniture and fixtures

 

 

—

 

 

 

219

 

 

 

—

 

 

 

219

 

Total impairments in operating expense

 

$

—

 

 

$

7,026

 

 

$

29,633

 

 

$

134,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

—

 

 

$

16,776

 

 

$

32,552

 

 

$

144,431