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Basis of Presentation and Summary of Significant Accounting Policies | 6 Months Ended
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Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Basis of Presentation and Summary of Significant Accounting Policies | Basis of Presentation and Summary of Significant Accounting Policies Description of the Business 1stdibs.com, Inc. (“1stDibs” or the “Company”) is one of the world’s leading online marketplaces for connecting design lovers with many of the best sellers and makers of vintage & antique furniture, contemporary furniture, home décor, jewelry, watches, art, and fashion. The Company’s sellers, who undergo an evaluation by its in-house experts to vet the quality of their inventory, in-depth marketing content, and custom-built technology platform create trust in the Company’s brand and facilitate high-consideration purchases of luxury design items online. By disrupting the way these items are bought and sold, 1stDibs is both expanding access to, and growing the market for, luxury design items. The Company was incorporated in the state of Delaware on March 10, 2000 and is headquartered in New York, NY. Basis of Presentation The accompanying condensed consolidated financial statements are prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K (the “Form 10-K”) for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on February 27, 2026. The consolidated balance sheet as of December 31, 2025, included herein, was derived from the audited financial statements as of that date, but does not include all disclosures including certain notes required by GAAP on an annual reporting basis. In the opinion of the Company, the accompanying condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of its financial position and its results of operations, changes in stockholders’ equity, and cash flows for the interim periods. The results for the three and six months ended June 30, 2026 are not necessarily indicative of the results to be expected for any subsequent quarter or for the year ending December 31, 2026. There have been no material changes to the Company's significant accounting policies as described in the Form 10-K except for the receivables from payment processors and seller accounts discussed below. Restructuring Expenses During the six months ended June 30, 2026, the Company incurred $0.5 million of Restructuring expenses consisting of employee severance, taxes, and benefits costs relating to a reorganization intended to improve operational and cost efficiency. There were no restructuring expenses recorded in the three months ended June 30, 2026 or the three and six months ended June 30, 2025. The following table displays a rollforward of the charges and payments to the accrued balance as of June 30, 2026:
(in thousands) | Restructuring Charges
Balance, December 31, 2025 | $ | 90 |
Restructuring expenses | 494 |
Cash payments | (220) |
Balance, June 30, 2026 | $ | 364 |
The majority of the remaining $0.4 million of severance, taxes, and benefits costs accrued as of June 30, 2026 is anticipated to be paid during the year ending December 31, 2026, while approximately $0.1 million is expected to be paid during the year ending December 31, 2027. The employee severance and benefits costs are included within the respective financial statement line items on the condensed consolidated statement of operations as shown in the table below for the six months ended June 30, 2026:
(in thousands) |  |  |  |  | Six Months Ended June 30, 2026 |  |
Cost of revenue |  |  |  |  | $ | 16 |  |  |
Sales and marketing |  |  |  |  | 415 |  |  |
Technology development |  |  |  |  | 48 |  |  |
General and administrative |  |  |  |  | 15 |  |  |
Total |  |  |  |  | $ | 494 |  |  |
Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, revenue recognition, provision for transaction losses, allowance for doubtful accounts, impairment assessment of goodwill, the determination of useful lives, income taxes, and the valuation of leases. The Company evaluates its estimates and assumptions on an ongoing basis. Actual results could differ from those estimates and such differences may be material to the condensed consolidated financial statements. Segment Information An operating segment is defined as a component of a business for which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”). The Company operates and manages its business as one reportable and operating segment. The Company’s chief executive officer, who is the chief operating decision maker, reviews financial information on a consolidated basis for purposes of evaluating financial performance and allocating resources. The Company’s single reportable and operating segment contains one reporting unit, which consists of the Company’s online marketplace that enables commerce between buyers and sellers. The CODM regularly reviews the GAAP consolidated statement of operations from a significant expense perspective when evaluating financial performance and allocating resources. While the CODM also reviews other funnel metrics regularly (i.e. Gross Merchandise Value (“GMV”), Number of Orders, etc.), there are no additional significant segment expenses other than those disclosed in the condensed consolidated statements of operations. Cash, Cash Equivalents, and Restricted Cash The following represents the Company’s cash, cash equivalents, and restricted cash as of the periods presented:
(in thousands) | June 30, 2026 |  | June 30, 2025
Cash and cash equivalents | $ | 18,873 |  |  | $ | 22,431 |
Restricted cash, current | — |  |  | 1,329 |
Restricted cash, non-current | 3,716 |  |  | 3,683 |
Total cash, cash equivalents, and restricted cash | $ | 22,589 |  |  | $ | 27,443 |
The Company considers all short-term, highly liquid investments purchased with an original maturity of three months or less at the date of purchase to be cash equivalents. Certain cash equivalents consist of investments in debt securities that are classified as available-for-sale. As of June 30, 2025, the Company’s restricted cash, current related to a hold back of cash from a payment processor that was subsequently released and paid back to the Company in July 2025. As of both June 30, 2026 and 2025, the Company’s restricted cash, non-current relates to $3.7 million in Letters of Credit for its office leases. The carrying value of the restricted cash approximates fair value. During the three months ended June 30, 2026 the Company did not purchase any available-for-sale securities classified as cash equivalents. During the six months ended June 30, 2026 the Company purchased $1.0 million of available-for-sale securities classified as cash equivalents. During the three and six months ended June 30, 2025 the Company purchased $1.1 million and $12.4 million of available-for-sale securities classified as cash equivalents, respectively. Receivables from Payment Processors and Seller Accounts Receivables from payment processors and seller accounts represent amounts received or expected to be received from buyers through third-party payment processors which flow through a bank account for payment to sellers in connection with marketplace transactions. The Company reports these balances in other current assets on the condensed consolidated balance sheets, with a corresponding liability recorded within payables due to sellers. The Company settles payables due to sellers in accordance with its payment terms. Recently Issued Accounting Pronouncements In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides all entities with a practical expedient of developing reasonable and supportable forecasts as part of estimating expected credit losses, that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. The Company adopted ASU 2025-05 on January 1, 2026 and has elected to apply this practical expedient on a prospective basis. The adoption of ASU 2025-05 did not have a material impact on the Company’s condensed consolidated financial statements.

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- Definition The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483426/235-10-50-1 + Details
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