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Segment and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Summary of Segment Revenue, Income (Loss) and Depreciation and Amortization

For the three months ended September 30, 2025 and 2024 and for the nine months ended September 30, 2025 and 2024, segment revenue, significant segment expenses, segment depreciation and amortization, segment income (loss) from operations, and the reconciliation from segment income (loss) from operations to total income (loss) before income taxes were as follows:

		Three Months Ended September 30,
		2025
		U.S. Marketplace				Digital Wholesale				Total
Revenue
Revenue from external customers		$	210,441			$	7,043			$	217,484
Total segment revenue		$	210,441			$	7,043			$	217,484
Reconciliation of Revenue
Other revenue											21,212
Total revenue										$	238,696
Less
Cost of revenue(1)			15,284				8,218				23,502
Sales and marketing			72,900				2,329				75,229
Depreciation and amortization			3,786				843				4,629
Other segment items			57,462				5,094				62,556
Total segment expenses			149,432				16,484				165,916
Total segment income (loss) from operations			61,009				(9,441	)			51,568
Reconciliation of segment income (loss) from operations to income from operations
Other operating income											3,106
Total income from operations											54,674
Reconciliation of total income from operations to total income before income taxes
Total other income, net											1,893
Total income before income taxes										$	56,567

(1)For the three months ended September 30, 2025, U.S. Marketplace and Digital Wholesale cost of revenue includes depreciation and amortization expense of $2,167 and $205, respectively.

		Three Months Ended September 30,
		2024
		U.S. Marketplace				Digital Wholesale				Total
Revenue
Revenue from external customers		$	187,253			$	27,339			$	214,592
Total segment revenue		$	187,253			$	27,339			$	214,592
Reconciliation of Revenue
Other revenue											16,766
Total revenue										$	231,358
Less
Cost of revenue(1)(2)			11,985				35,286				47,271
Sales and marketing			66,185				4,372				70,557
Depreciation and amortization			1,770				482				2,252
Other segment items(3)			56,903				12,516				69,419
Total segment expenses			136,843				52,656				189,499
Total segment income (loss) from operations			50,410				(25,317	)			25,093
Reconciliation of segment income (loss) from operations to loss from operations
Other operating income											2,341
Total income from operations											27,434
Reconciliation of total loss from operations to total loss before income taxes
Total other income, net											2,623
Total income before income taxes										$	30,057

(1)For the three months ended September 30, 2024, U.S. Marketplace and Digital Wholesale cost of revenue includes depreciation and amortization expense of $824 and $1,804, respectively.

(2)For the three months ended September 30, 2024, Digital Wholesale cost of revenue includes impairment of $9,750. For further discussion of impairments, refer to Note 6 of the consolidated financial statements included within the Annual Report.

(3)For the three months ended September 30, 2024, Digital Wholesale other segment items includes impairment of $7,026. For further discussion of impairments, refer to Note 6 of the consolidated financial statements included within the Annual Report.

		Nine Months Ended September 30,
		2025
		U.S. Marketplace				Digital Wholesale				Total
Revenue
Revenue from external customers		$	608,321			$	32,001			$	640,322
Total segment revenue		$	608,321			$	32,001			$	640,322
Reconciliation of Revenue
Other revenue											57,565
Total revenue										$	697,887
Less
Cost of revenue(1)(2)			42,148				33,511				75,659
Sales and marketing			214,889				7,669				222,558
Depreciation and amortization			11,016				1,800				12,816
Other segment items(3)			170,716				41,282				211,998
Total segment expenses			438,769				84,262				523,031
Total segment income (loss) from operations			169,552				(52,261	)			117,291
Reconciliation of segment income (loss) from operations to income from operations
Other operating income											7,982
Total income from operations											125,273
Reconciliation of total income from operations to total income before income taxes
Total other income, net											7,253
Total income before income taxes										$	132,526

(1)For the nine months ended September 30, 2025, U.S. Marketplace and Digital Wholesale cost of revenue includes depreciation and amortization expense of $5,717 and $1,085, respectively.

(2)For the nine months ended September 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 nine months ended September 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.

		Nine Months Ended September 30,
		2024
		U.S. Marketplace				Digital Wholesale				Total
Revenue
Revenue from external customers		$	540,293			$	79,441			$	619,734
Total segment revenue		$	540,293			$	79,441			$	619,734
Reconciliation of Revenue
Other revenue											46,112
Total revenue										$	665,846
Less
Cost of revenue(1)(2)			37,480				84,839				122,319
Sales and marketing			200,699				15,359				216,058
Depreciation and amortization			4,754				2,369				7,123
Other segment items(3)			170,690				150,689				321,379
Total segment expenses			413,623				253,256				666,879
Total segment income (loss) from operations			126,670				(173,815	)			(47,145	)
Reconciliation of segment income (loss) from operations to loss from operations
Other operating income											7,279
Total loss from operations											(39,866	)
Reconciliation of total loss from operations to total loss before income taxes
Total other income, net											9,185
Total loss before income taxes										$	(30,681	)

(1)For the nine months ended September 30, 2024, U.S. Marketplace and Digital Wholesale cost of revenue includes depreciation and amortization expense of $2,824 and $7,634, respectively.

(2)For the nine months ended September 30, 2024, Digital Wholesale cost of revenue includes impairment expense of $9,930. For further discussion of impairments, refer to Note 6 of the consolidated financial statements included within the Annual Report.

(3)For the nine months ended September 30, 2024, Digital Wholesale other segment items includes impairment of $134,501. For further discussion of impairments, refer to Note 6 of the consolidated financial statements included within the Annual Report.

Summary of Assets by Segment

As of September 30, 2025 and December 31, 2024, segment assets were as follows:

		As of September 30, 2025(1)				As of December 31, 2024
Segment Assets
U.S. Marketplace		$	539,840			$	674,138
Digital Wholesale			57,806				108,890
Other			62,826				41,508
Total		$	660,472			$	824,536

(1)During the three months ended September 30, 2024, the Company reallocated certain assets from the Digital Wholesale segment to the U.S. Marketplace segment to reflect the ongoing costs that will continue following the CarOffer wind-down.

Summary of Revenue by Geographical Region

For the three months ended September 30, 2025 and 2024 and for the nine months ended September 30, 2025 and 2024, revenue by geographical region were as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
Revenue by Geographic Region
U.S.		$	217,484			$	214,592			$	640,322			$	619,734
International			21,212				16,766				57,565				46,112
Total		$	238,696			$	231,358			$	697,887			$	665,846

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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