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DISCONTINUED OPERATIONS (Tables)
 12 Months Ended
Dec. 31, 2023
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:
InvestmentFair ValueValuation TechniqueUnobservable InputsInputs
tZERO$37,126 Market approach - transaction backsolve with an option pricing modelTerm to liquidity5.0 years
Volatility125%
Percentage change in enterprise value for guideline public companies7.8%
SpeedRoute3,920 Market approach - recent transactionsN/AN/A
Total$41,046 
Valuation TechniqueUnobservable InputsRange (1)Weighted Average (2)
Market approachEnterprise value to revenue multiple
0.88x
0.88x
Discounted cash flows – exit multipleDiscount rate
9.0% - 35.0%
32.4%
Enterprise value to revenue multiple
0.75x – 5.00x
4.40x
Projected terminal year2023 – 20272025
Annual revenue growth rate
1.3% - 124.0%
109.4%
Annual EBITDA % of revenues
5.2% - 41.2%
36.3%
Discounted cash flows – perpetual growthDiscount rate30.0%30.0%
Projected terminal year20282028
Perpetual revenue growth rate3.0%3.0%
Annual revenue growth rate25.7%25.7%
Annual EBITDA % of revenues14.9%14.9%
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(1)     — The range for the Annual revenue growth rate and Annual EBITDA % of revenues are based on the weighted average metrics for the annual periods of the separate cash flow models for the respective component.
(2)     — Unobservable inputs were weighted by the relative fair value based on the fair value of the underlying components subjected to the identified valuation technique. For projected terminal year, the amount represents the median of the inputs and is not a weighted average.
Disposal Groups, Including Discontinued Operations
Results of discontinued operations through the transaction date were as follows (in thousands):
Year ended December 31,
202320222021
Net revenue$— $— $17,394 
Cost of goods sold— — 13,716 
Gross profit— — 3,678 
Operating expenses
Technology— — 7,133 
Selling, general, and administrative— — 13,509 
Total operating expenses— — 20,642 
Operating loss from discontinued operations— — (16,964)
Interest income, net— — 192 
Other income, net— — 4,081 
Gain on deconsolidation— — 243,541 
Income from discontinued operations before income taxes— — 230,850 
Provision for income taxes— — 13,604 
Income from discontinued operations, net of income taxes$— $— $217,246 
Less: Net loss attributable to noncontrolling interests from discontinued operations— — (335)
Net income from discontinued operations attributable to stockholders of Beyond, Inc.$— $— $217,581