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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income (loss) $ (56,514) $ (52,934) $ (234,380)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization of property, equipment and software 27,889 43,401 54,170
Amortization of acquired intangible assets 3,011 7,817 8,493
Impairment of goodwill 0 0 35,424
Impairment of long-lived assets 0 0 12,259
Restructuring-related impairment 0 0 2,949
Stock-based compensation 26,734 14,481 30,006
Changes in fair value of investments 0 25,751 0
Deferred income taxes 4,496 1,735 49,099
(Gain) loss on early lease termination (596) (729) (4,471)
Loss on extinguishment of debt 1,631 0 0
Foreign currency (gains) losses, net 30,036 (5,105) 10,934
Foreign VAT assessments 8,692 0 0
Gain on sale of assets (5,160) 0 0
Change in assets and liabilities:      
Accounts receivable 15,276 (4,482) (10,088)
Prepaid expenses and other current assets 18,598 21,364 9,812
Right-of-use assets - operating leases 2,525 9,747 16,986
Accounts payable (3,637) (44,594) 37,540
Accrued merchant and supplier payables (9,694) (18,286) (39,428)
Accrued expenses and other current liabilities (7,047) (37,851) (71,804)
Operating lease obligations (6,144) (27,149) (30,295)
Payments for early lease terminations (2,155) (9,724) 0
Other, net 7,953 (1,427) (13,193)
Net cash provided by (used in) operating activities 55,894 (77,985) (135,987)
Investing activities      
Purchases of property and equipment and capitalized software (15,333) (19,285) (36,168)
Proceeds from sale or divestment of investment 0 18,924 0
Proceeds from sale of assets, net 9,116 1,489 0
Acquisitions of intangible assets and other investing activities (595) (2,525) (2,677)
Net cash provided by (used in) investing activities (6,812) (1,397) (38,845)
Financing activities      
Proceeds from borrowings under revolving credit agreement 0 0 40,000
Payments of borrowings under revolving credit agreement (42,776) (32,224) (65,000)
Proceeds from issuance of 2027 Notes 19,950 0 0
Issuance costs for 2027 Notes (3,703) 0 0
Proceeds from Rights Offering, net of issuance costs 79,619 0 0
Taxes paid related to net share settlements of stock-based compensation awards (2,332) (3,299) (6,065)
Other financing activities (2,968) (167) (3,342)
Net cash provided by (used in) financing activities 47,790 (35,690) (34,407)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,941) 1,014 (8,548)
Net increase (decrease) in cash, cash equivalents and restricted cash 94,931 (114,058) (217,787)
Cash, cash equivalents and restricted cash, beginning of period [1] 167,638 281,696 499,483
Cash, cash equivalents and restricted cash, end of period [1] 262,569 167,638 281,696
Cash activity:      
Cash paid for interest 3,366 6,624 5,940
Income tax payments 15,511 7,904 5,184
Cash paid for amounts included in the measurement of operating lease liabilities 5,508 26,686 31,508
Non-cash investing activity:      
Right-of-use assets obtained in exchange for operating lease liabilities 6,456 973 2,635
Increase (decrease) in liabilities related to purchases of property and equipment and capitalized software 356 (1,770) 3,325
Non-cash financing activity:      
Exchanged 2026 Notes (176,260) 0 0
Issuance of the 2027 Notes in exchange for 2026 Notes $ 176,260 $ 0 $ 0
[1] The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to amounts reported within the Consolidated Balance Sheets as of December 31, 2024, 2023 and 2022 (in thousands):
December 31, 2024December 31, 2023December 31, 2022
Cash and cash equivalents$228,843 $141,563 $281,279 
Restricted cash included in prepaid expenses and other current assets33,726 26,075 417 
Cash, cash equivalents and restricted cash$262,569 $167,638 $281,696