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Segment Information (Tables)
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Summary of Reportable Segments

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

 

 

 

Three Months Ended September 30, 2022

 

 

 

Ecommerce

 

 

Wholesale

 

 

Retail Financing

 

 

All Other

 

 

Total

 

Revenues from external customers

 

$

225,441

 

 

$

47,604

 

 

$

40,654

 

 

$

27,098

 

 

$

340,797

 

Gross profit

 

$

27,034

 

 

$

(1,574

)

 

$

35,954

 

 

$

5,917

 

 

$

67,331

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2021

 

 

 

Ecommerce

 

 

Wholesale

 

 

Retail Financing

 

 

All Other(1)

 

 

Total

 

Revenues from external customers

 

$

701,678

 

 

$

131,306

 

 

$

 

 

$

63,772

 

 

$

896,756

 

Gross profit

 

$

50,383

 

 

$

2,103

 

 

$

 

 

$

5,603

 

 

$

58,089

 

 

 

 

 

Nine Months Ended September 30, 2022

 

 

 

Ecommerce

 

 

Wholesale

 

 

Retail Financing

 

 

All Other

 

 

Total

 

Revenues from external customers

 

$

1,222,436

 

 

$

270,489

 

 

$

120,005

 

 

$

126,622

 

 

$

1,739,552

 

Gross profit

 

$

94,862

 

 

$

(6,260

)

 

$

109,637

 

 

$

17,089

 

 

$

215,328

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2021

 

 

 

Ecommerce

 

 

Wholesale

 

 

Retail Financing

 

 

All Other(1)

 

 

Total

 

Revenues from external customers

 

$

1,703,649

 

 

$

377,438

 

 

$

 

 

$

168,677

 

 

$

2,249,764

 

Gross profit

 

$

131,859

 

 

$

10,337

 

 

$

 

 

$

15,197

 

 

$

157,393

 

 

(1)
The Company reclassified TDA revenue and TDA gross profit from the TDA reportable segment to the “All Other” category to conform to current year presentation.
Schedule of Reconciliation Between Reportable Segment Gross Profit to Consolidated Loss Before Provision for Income Taxes

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

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Reconciliation to consolidated total revenue

 

 

 

 

 

 

 

 

 

 

 

 

Total reportable segment revenue

 

$

313,699

 

 

$

832,984

 

 

$

1,612,930

 

 

$

2,081,087

 

All Other revenues

 

 

27,098

 

 

 

63,772

 

 

 

126,622

 

 

 

168,677

 

Consolidated total revenue

 

$

340,797

 

 

$

896,756

 

 

$

1,739,552

 

 

$

2,249,764

 

Reconciliation to consolidated loss before provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

Total reportable segment gross profit

 

$

61,414

 

 

$

52,486

 

 

$

198,239

 

 

$

142,196

 

All Other gross profit

 

 

5,917

 

 

 

5,603

 

 

 

17,089

 

 

 

15,197

 

Selling, general and administrative expenses

 

 

134,643

 

 

 

148,718

 

 

 

475,627

 

 

 

381,482

 

Depreciation and amortization

 

 

9,833

 

 

 

3,376

 

 

 

27,728

 

 

 

9,276

 

Impairment charges

 

 

1,017

 

 

 

 

 

 

206,127

 

 

 

 

Gain on debt extinguishment

 

 

(37,917

)

 

 

 

 

 

(37,917

)

 

 

 

Interest expense

 

 

9,704

 

 

 

7,028

 

 

 

28,617

 

 

 

14,720

 

Interest Income

 

 

(5,104

)

 

 

(2,930

)

 

 

(12,991

)

 

 

(7,288

)

Other loss (income), net

 

 

5,383

 

 

 

(10

)

 

 

26,897

 

 

 

(58

)

Consolidated loss before provision for income taxes

 

$

(50,228

)

 

$

(98,093

)

 

$

(498,760

)

 

$

(240,739

)