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Segments (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment 's Adjusted EBITDA

The following tables set forth the Company’s revenues, net and direct contribution for the three and nine months ended September 30, 2024 and 2023:

			For the three months ended September 30,												For the nine months ended September 30,
			2024						2023						2024						2023
Revenues, net:
Marketplace
Advertising and e-commerce sales			$	717,692					$	875,546					$	2,389,801					$	1,783,287
Brands
Product sales			2,824,540						1,387,951						7,653,505						1,387,951
Other sales			18,789						—						37,527						—
Returns and discounts			(228,317)						(232,597)						(642,037)						(232,597)
Total Brand revenues, net			2,615,012						1,155,354						7,048,995						1,155,354
Financial Technology
Direct revenue			1,150,951						—						2,272,818						—
Interest income on loans			749,199						—						1,850,115						—
Loan and lease contracts sold, net			1,307,258						—						2,429,500						—
Total Financial Technology revenues, net			3,207,408						—						6,552,433						—
Total revenues, net			$	6,540,112					$	2,030,900					$	15,991,229					$	2,938,641

			For the three months ended September 30, 2024
			Marketplace						Brands						Financial  Technology						Total
Revenues, net			$	717,692					$	2,615,012					$	3,207,408					$	6,540,112
Segment cost of revenues			(582,614)						(4,358)						(22,298)						(609,270)
Segment cost of goods sold			—						(1,771,109)						—						(1,771,109)
Segment gross profit			135,078						839,545						3,185,110						4,159,733
Segment operating costs			(3,701,865)						(1,457,446)						(3,417,409)						(8,576,720)
Adjusted EBITDA			(3,566,787)						(617,901)						(232,299)						(4,416,987)
Corporate operating expenses																					(3,503,643)
Transaction costs incurred in connection with acquisitions																					—
Share-based compensation (exclusive of what is included in transaction costs above)																					(5,796,823)
Depreciation and amortization																					(975,090)
Other expense, net																					(45,683)
Change in fair value of convertible notes																					—
Change in fair value of earn-out liabilities																					170,000
Change in fair value of warrant liabilities																					2,175,000
Interest expense, net																					(756,760)
Income tax benefit																					12,437
Net loss																					$	(13,137,549)

			For the three months ended September 30, 2023
			Marketplace						Brands						Financial  Technology						Total
Revenues, net			$	875,546					$	1,155,354					$	—					$	2,030,900
Segment cost of revenues			(569,493)						(9)						—						(569,502)
Segment cost of goods sold			—						(903,672)						—						(903,672)
Segment gross profit			306,053						251,673						—						557,726
Segment operating costs			(2,871,552)						(1,636,670)						—						(4,508,222)
Adjusted EBITDA			(2,565,499)						(1,384,997)						—						(3,950,496)
Corporate operating expenses																					(3,774,266)
Transaction costs incurred in connection with the Business Combination																					(3,309,597)
Share-based compensation (exclusive of what is included in transaction costs above)																					(1,185,089)
Depreciation and amortization																					(759,745)
Other income, net																					119,957
Change in fair value of convertible notes																					—
Change in fair value of earn-out liabilities																					450,000
Change in fair value of warrant liabilities																					(7,783,000)
Interest expense, net																					(46,690)
Income tax benefit																					262
Net loss																					$	(20,238,664)

			For the nine months ended September 30, 2024
			Marketplace						Brands						Financial  Technology						Total
Revenues, net			$	2,389,801					$	7,048,995					$	6,552,433					$	15,991,229
Segment cost of revenues			(1,635,237)						(4,358)						(99,134)						(1,738,729)
Segment cost of goods sold			—						(4,601,360)						—						(4,601,360)
Segment gross profit			754,564						2,443,277						6,453,299						9,651,140
Segment operating costs			(9,807,606)						(4,079,486)						(6,992,869)						(20,879,961)
Adjusted EBITDA			(9,053,042)						(1,636,209)						(539,570)						(11,228,821)
Corporate operating expenses																					(11,937,517)
Transaction costs incurred in connection with acquisitions																					(2,295,502)
Share-based compensation (exclusive of what is included in transaction costs above)																					(15,967,598)
Depreciation and amortization																					(2,202,561)
Other income, net																					110,295
Change in fair value of convertible notes																					—
Change in fair value of earn-out liabilities																					510,000
Change in fair value of warrant liabilities																					7,497,500
Interest expense, net																					(1,434,241)
Income tax expense																					(1,181)
Net loss																					$	(36,949,626)

			For the nine months ended September 30, 2023
			Marketplace						Brands						Financial  Technology						Total
Revenues, net			$	1,783,287					$	1,155,354					$	—					$	2,938,641
Segment cost of revenues			(1,189,431)						(9)						—						(1,189,440)
Segment cost of goods sold			—						(903,672)						—						(903,672)
Segment gross profit			593,856						251,673						—						845,529
Segment operating costs			(6,445,931)						(1,636,670)						—						(8,082,601)
Adjusted EBITDA			(5,852,075)						(1,384,997)						—						(7,237,072)
Corporate operating expenses																					(8,230,417)
Transaction costs incurred in connection with the Business Combination																					(7,048,177)
Share-based compensation (exclusive of what is included in transaction costs above)																					(1,185,089)
Depreciation and amortization																					(2,004,319)
Other income, net																					173,644
Change in fair value of convertible notes																					(14,571,109)
Change in fair value of earn-out liabilities																					450,000
Change in fair value of warrant liabilities																					(7,783,000)
Interest expense, net																					(210,545)
Income tax expense																					(1,527)
Net loss																					$	(47,647,611)

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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