Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.22.2.2
Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company determines its operating segments based on how the chief operating decision maker (“CODM”) manages the business, allocates resources, makes operating decisions and evaluates operating performance. The CODM does not evaluate operating segments using asset information and, accordingly, the Company does not report asset information by segment. The Company does not aggregate its operating segments into reportable segments. Accordingly, the Company has identified three reportable segments, which are organized based on the geographic areas in which it conducts business, as follows:
Segment Description
North America Includes Canada and the United States
EMEA Includes all countries within the European Union, the United Kingdom, and all countries within the Middle East
Other Includes South America, China, Mexico, Australia, New Zealand, and Japan
The Company’s segment operating performance measure is gross margin. Gross margin is defined as revenues less cost of revenues.
The following tables provides information about the Company’s segments and a reconciliation of the total segment gross margin to loss before income taxes (in thousands):
Three Months Ended June 30,
2022 2021
North America EMEA Other
Total
Segments
North America EMEA Other
Total
Segments
Revenues:
Sharing $ 54,834  17,500  61  72,395  $ 44,514  12,124  —  56,638 
Product sales 3,967  300  —  4,267  $ 2,631  775  —  3,406 
Total revenues 58,801  17,800  61  76,662  47,145  12,899  —  60,044 
Cost of revenues:
Cost of sharing, exclusive of depreciation 25,015  9,040  31  34,086  24,141  5,190  —  29,331 
Depreciation on sharing vehicles 9,117  9,290  17  18,424  5,061  6,480  —  11,541 
Cost of product sales 5,490  238  —  5,728  2,717  716  —  3,433 
Impairment of product sales inventory 31,769  —  —  31,769  —  —  —  — 
Total cost of revenues $ 71,391  $ 18,568  $ 48  $ 90,007  $ 31,919  $ 12,386  $ —  $ 44,305 
Gross margin:
Sharing 20,702  (830) 13  19,885  15,312  454  —  15,766 
Product sales (33,292) 62  —  (33,230) (86) 59  —  (27)
Total gross margin (12,590) (768) 13  (13,345) 15,226  513  —  15,739 
Reconciling items:
Total expenses $ 296,990  $ 59,315 
Loss before income taxes $ (310,335) $ (43,576)
Six Months Ended June 30,
2022 2021
North America EMEA Other Total
 Segments		 North America EMEA Other Total
 Segments
Revenues:
Sharing $ 79,826  25,979  167  105,972  $ 62,681  15,606  —  78,287 
Product sales 8,201  467  —  8,668  $ 6,462  965  —  7,427 
Total revenues 88,027  26,446  167  114,640  69,143  16,571  —  85,714 
Cost of revenues:
Cost of sharing, exclusive of depreciation 38,809  16,591  72  55,472  36,672  7,057  —  43,729 
Depreciation on sharing vehicles 13,821  13,503  40  27,364  7,414  9,144  —  16,558 
Cost of product sales 9,668  289  —  9,957  6,784  864  —  7,648 
Impairment of product sales inventory 31,769  —  —  31,769  —  —  —  — 
Total cost of revenues $ 94,067  $ 30,383  $ 112  $ 124,562  $ 50,870  $ 17,065  $ —  $ 67,935 
Gross margin:
Sharing 27,196  (4,115) 55  23,136  18,595  (595) —  18,000 
Product sales (33,236) 178  —  (33,058) (322) 101  —  (221)
Total gross margin (6,040) (3,937) 55  (9,922) 18,273  (494) —  17,779 
Reconciling items:
Total expenses $ 290,025  $ 137,535 
Loss before income taxes $ (299,947) $ (119,756)
    In accordance with ASC 280—Segment Reporting, the Company attributes Product Sales (and the related cost of Product Sales) based on the location of the subsidiary that made the sale, as opposed to the location of the customer or point of shipment.