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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Segment Reporting Disclosures
Our Chief Operating Decision Maker (“CODM”), the Chief Executive Officer, manages the Company’s business activities as a single operating and reportable segment at the consolidated level. Accordingly, our CODM uses consolidated net income (loss) to measure segment profit or loss, allocate resources and assess performance. Significant expenses reviewed by the CODM to manage the Company’s operations are at the consolidated level as separately presented in the condensed consolidated statements of operations and include the Company’s cost of revenue (exclusive of depreciation and amortization), operations and support, sales and marketing and general and administrative expenses. Other segment items included in consolidated net income (loss) are depreciation and amortization, interest income, interest expense, other income, net, foreign currency gains (losses), gains on derivatives, and benefit for income taxes, which are each separately presented in the condensed consolidated statements of operations.
The CODM reviews condensed consolidated balance sheet information, primarily the amount of cash and cash equivalents at the end of the relevant period, at the consolidated level. Refer to the condensed consolidated balance sheets for these amounts as of March 31, 2026 and 2025. The CODM further reviews information regarding capital expenditures, which is available under the cash flows from investing activities within the Company’s condensed consolidated statements of cash flows for the three months ended March 31, 2026 and 2025.
Entity Wide Disclosures
Revenue—The following table presents the Company’s revenue disaggregated by revenue stream for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
Transaction fees$440,366 $393,416 
Other revenue5,679 4,191 
Total$446,045 $397,607 
Transaction fees consist of fees charged to buyers, including transaction fees charged on sales of inventory, and sellers of tickets on the Company’s platform, including shipping fees charged to buyers of tickets. Other revenue primarily represents advertising revenue and sales of inventory