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DISCONTINUED OPERATIONS (Tables) | 12 Months Ended
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Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of valuation techniques and unobservable inputs | The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of our Level 3 equity securities:
Investment |  | Fair Value |  | Valuation technique |  | Unobservable inputs |  | Inputs
tZERO |  | $ | 78,867 |  |  | Market approach - transaction backsolve with an option pricing model |  | Term to liquidity |  | 5.0 years
|  |  |  |  |  | Volatility |  | 125%
|  |  |  |  |  | Percentage change in enterprise value for guideline public companies |  | (32.4)%
SpeedRoute |  | 3,920 |  |  | Market approach - recent transactions |  | N/A |  | N/A
Total |  | $ | 82,787 |  |  |  |  |  |  |
Valuation technique |  | Unobservable inputs |  | Range (1) |  | Weighted average (2)
Market approach |  | Enterprise value to revenue multiple |  | 0.88x |  | 0.88x
Discounted cash flows - exit multiple |  | Discount rate |  | 9.0% - 35.0% |  | 32.4%
| Enterprise value to revenue multiple |  | 0.75x - 5.00x |  | 4.40x
| Projected terminal year |  | 2023 - 2027 |  | 2025
| Annual revenue growth rate |  | 1.3% - 124.0% |  | 109.4%
| Annual EBITDA % of revenues |  | 5.2% - 41.2% |  | 36.3%
Discounted cash flows - perpetual growth |  | Discount rate |  | 30.0% |  | 30.0%
| Projected terminal year |  | 2028 |  | 2028
| Perpetual revenue growth rate |  | 3.0% |  | 3.0%
| Annual revenue growth rate |  | 25.7% |  | 25.7%
| Annual EBITDA % of revenues |  | 14.9% |  | 14.9%
__________________________________________ (1) — The range for the Annual revenue growth rate and Annual EBITDA % of revenues are based on the weighted average metrics for the annual periods of the separate cash flow models for the respective component. (2) — Unobservable inputs were weighted by the relative fair value based on the fair value of the underlying components subjected to the identified valuation technique. For projected terminal year, the amount represents the median of the inputs and is not a weighted average.
Disposal Groups, Including Discontinued Operations | Results of discontinued operations through the transaction date were as follows (in thousands):
|  |  | Year ended December 31,
|  |  |  |  | 2022 |  | 2021 |  | 2020
Net revenue |  |  |  |  | $ | — |  |  | $ | 17,394 |  |  | $ | 55,868 |
Cost of goods sold |  |  |  |  | — |  |  | 13,716 |  |  | 47,691 |
Gross profit |  |  |  |  | — |  |  | 3,678 |  |  | 8,177 |
Operating expenses |  |  |  |  |  |  |  |  |
Technology |  |  |  |  | — |  |  | 7,133 |  |  | 20,750 |
Selling, general, and administrative |  |  |  |  | — |  |  | 13,509 |  |  | 31,916 |
Total operating expenses |  |  |  |  | — |  |  | 20,642 |  |  | 52,666 |
Operating loss from discontinued operations |  |  |  |  | — |  |  | (16,964) |  |  | (44,489) |
Interest income, net |  |  |  |  | — |  |  | 192 |  |  | 600 |
Other income (loss), net |  |  |  |  | — |  |  | 4,081 |  |  | (5,441) |
Gain on deconsolidation |  |  |  |  | — |  |  | 243,541 |  |  | — |
Income (loss) from discontinued operations before income taxes |  |  |  |  | — |  |  | 230,850 |  |  | (49,330) |
Provision (benefit) for income taxes |  |  |  |  | — |  |  | 13,604 |  |  | (374) |
Income (loss) from discontinued operations, net of income taxes |  |  |  |  | $ | — |  |  | $ | 217,246 |  |  | $ | (48,956) |
Less: Net loss attributable to noncontrolling interests from discontinued operations |  |  |  |  | — |  |  | (335) |  |  | (9,830) |
Net income (loss) from discontinued operations attributable to stockholders of Overstock.com, Inc. |  |  |  |  | $ | — |  |  | $ | 217,581 |  |  | $ | (39,126) |

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