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 (Restated) $ 44,937  17,500  61  62,498  $ 40,124  12,124  —  52,248 
Product sales 3,967  300  —  4,267  $ 2,631  775  —  3,406 
Total revenues (Restated) 48,904  17,800  61  66,765  42,755  12,899  —  55,654 
Cost of revenues:
Cost of sharing, exclusive of depreciation (Restated) 25,015  9,040  31  34,086  25,341  5,190  —  30,531 
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 (Restated) $ 71,391  $ 18,568  $ 48  $ 90,007  $ 33,119  $ 12,386  $ —  $ 45,505 
Gross margin:
Sharing (Restated) 10,805  (830) 13  9,988  9,722  454  —  10,176 
Product sales (33,292) 62  —  (33,230) (86) 59  —  (27)
Total gross margin (Restated) (22,487) (768) 13  (23,242) 9,636  513  —  10,149 
Reconciling items:
Total expenses (Restated) $ 296,990  $ 59,315 
Loss before income taxes (Restated) $ (320,232) $ (49,166)
Six Months Ended June 30,
2022 2021
North America EMEA Other Total
 Segments		 North America EMEA Other Total
 Segments
Revenues:
Sharing (Restated) $ 67,325  25,979  167  93,471  $ 56,868  15,606  —  72,474 
Product sales 8,201  467  —  8,668  $ 6,462  965  —  7,427 
Total revenues (Restated) 75,526  26,446  167  102,139  63,330  16,571  —  79,901 
Cost of revenues:
Cost of sharing, exclusive of depreciation (Restated) 38,809  16,591  72  55,472  37,872  7,057  —  44,929 
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 (Restated) $ 94,067  $ 30,383  $ 112  $ 124,562  $ 52,070  $ 17,065  $ —  $ 69,135 
Gross margin:
Sharing (Restated) 14,695  (4,115) 55  10,635  11,582  (595) —  10,987 
Product sales (33,236) 178  —  (33,058) (322) 101  —  (221)
Total gross margin (Restated) (18,541) (3,937) 55  (22,423) 11,260  (494) —  10,766 
Reconciling items:
Total expenses (Restated) $ 290,025  $ 136,724 
Loss before income taxes (Restated) $ (312,448) $ (125,958)
    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.