Segment Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

17. Segment Information

The Company has four reportable segments: Ecommerce, Wholesale, TDA, and Retail Financing. No operating segments have been aggregated to form the reportable segments. The Company determined its operating segments based on how the chief operating decision maker (“CODM”) reviews the Company’s operating results in assessing performance and allocating resources. The CODM reviews revenue and gross profit for each of the reportable segments. Gross profit is defined as revenue less cost of sales incurred by the segment. The CODM does not evaluate operating segments using asset information as these are managed on an enterprise wide group basis. Accordingly, the Company does not report segment asset information. As of March 31, 2022 and December 31, 2021, long-lived assets were predominantly located in the United States.

The Ecommerce reportable segment represents retail sales of used vehicles through the Company’s ecommerce platform, fees earned on vehicle financing originated by UACC or our third-party financing sources and sales of value-added products associated with those vehicles sales. The Wholesale reportable segment represents sales of used vehicles through wholesale channels. The TDA reportable segment represents retail sales of used vehicles from TDA and fees earned on sales of financing and value-added products associated with those vehicle sales. The Retail Financing reportable segment represents UACC’s operations with its network of third-party dealership customers, including the purchases and servicing of vehicle installment contracts. Revenues within the "All Other" category consist of the CarStory business and vehicle repair services at TDA.

Information about the Company’s reportable segments are as follows (in thousands):

	Three Months Ended March 31, 2022
	Ecommerce		Wholesale			TDA		Retail Financing		All Other		Total
Revenues from external customers	$	675,364	$	139,984		$	56,271	$	47,687	$	4,469	$	923,775
Gross profit	$	34,320	$	(2,753	)	$	1,806	$	44,963	$	3,304	$	81,640
	Three Months Ended March 31, 2021
	Ecommerce		Wholesale			TDA		Retail Financing		All Other		Total
Revenues from external customers	$	422,308	$	118,024		$	47,587	$	—	$	3,199	$	591,118
Gross profit	$	31,837	$	(282	)	$	2,791	$	—	$	1,830	$	36,176

The reconciliation between reportable segment gross profit to consolidated loss before provision for income taxes is as follows (in thousands):

	Three Months Ended March 31,
	2022			2021
Reconciliation to consolidated total revenue
Total reportable segment revenue	$	919,306		$	587,919
All Other revenues		4,469			3,199
Consolidated total revenue	$	923,775		$	591,118
Reconciliation to consolidated loss before provision for income taxes
Total reportable segment gross profit	$	78,336		$	34,346
All Other gross profit		3,304			1,830
Selling, general and administrative expenses		187,994			109,114
Depreciation and amortization		7,856			2,594
Goodwill impairment charge		201,703			—
Interest expense		9,380			3,812
Interest Income		(3,952	)		(2,296	)
Other income, net		12,358			(15	)
Consolidated loss before provision for income taxes	$	(333,699	)	$	(77,033	)