Revenue

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

5. Revenue

The following table summarizes the Company's revenue from the rendering of services and the sale of inventory:

	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Commissions	$	236.3	$	233.3	$	463.7	$	363.8
Buyer fees	485.2		465.1		987.9		604.6
Marketplace services revenue	137.6		107.7		256.6		181.2
Total service revenue	859.1		806.1		1,708.2		1,149.6
Inventory sales revenue	237.0		300.4		452.6		469.3
Total revenue	$	1,096.1	$	1,106.5	$	2,160.8	$	1,618.9

Commissions are earned from consignors on the sale of consigned assets from live and online auctions, through online marketplaces, and through private brokerage services. Buyer fees are fees earned from the purchasers of consigned assets and inventory. Marketplace services revenue includes fees earned from services provided to customers such as refurbishment, parts procurement, data,

transportation and logistics, inspection, appraisal, listings, financing, and title and liens processing, as well as other auction-related fees.

During the three and six months ended June 30, 2024, approximately 21% and 22%, respectively, of consolidated revenues were associated with vehicles supplied by the Company's three largest provider customers.