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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash and cash equivalents $ 651,035 $ 217,734
Restricted cash 21,853 1,853
Accounts receivable, net of allowance of $789 and $1,135, respectively 15,287 30,848
Inventory 141,063 205,746
Prepaid expenses and other current assets 17,808 9,149
Total current assets 847,046 465,330
Property and equipment, net 9,783 7,828
Intangible assets, net 297 572
Goodwill 78,172 78,172
Operating lease right-of-use assets 15,437  
Other assets 12,472 11,485
Total assets 963,207 563,387
Current Liabilities:    
Accounts payable 20,133 18,987
Accrued expenses 40,898 38,491
Vehicle floorplan 109,783 173,461
Deferred revenue 15,488 17,323
Operating lease liabilities, current 4,640  
Other current liabilities 13,115 11,572
Total current liabilities 204,057 259,834
Operating lease liabilities, excluding current portion 11,750  
Other long-term liabilities 1,965 3,073
Total liabilities 217,772 262,907
Commitments and contingencies (Note 8)
Redeemable convertible preferred stock, $0.001 par value; 86,123,364 and 10,000,000 shares authorized as of December 31, 2019 and June 30, 2020, respectively; 83,568,628 and zero shares issued and outstanding as of December 31, 2019 and June 30, 2020, respectively   874,332
Stockholders’ (deficit) equity:    
Common stock, $0.001 par value; 113,443,854 and 500,000,000 shares authorized as of December 31, 2019 and June 30, 2020, respectively; 8,650,922 and 119,336,588 shares issued and outstanding as of December 31, 2019 and June 30, 2020, respectively 119 8
Additional paid-in-capital 1,424,675  
Accumulated deficit (679,359) (573,860)
Total stockholders’ (deficit) equity 745,435 (573,852)
Total liabilities, redeemable convertible preferred stock and stockholders’ (deficit) equity $ 963,207 $ 563,387