Schedule of Segment Reporting Information, by Segment |
The following tables provides information about the Company’s segments and a reconciliation of the total segment gross profit (loss) to loss before income taxes (in thousands):
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Three Months Ended September 30, |
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2023 |
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2022 |
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Sharing Business |
Platform Business |
Retail Business |
Total Segments |
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Sharing Business |
Platform Business |
Retail Business |
Total Segments |
Americas |
$ |
36,998 |
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$ |
803 |
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$ |
36 |
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$ |
37,837 |
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$ |
46,504 |
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1,242 |
|
3,659 |
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$ |
51,405 |
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EMEA |
14,802 |
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529 |
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1,039 |
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16,370 |
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20,713 |
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649 |
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30 |
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21,392 |
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Rest of the World |
123 |
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— |
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123 |
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62 |
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— |
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— |
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62 |
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Total revenues |
51,923
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1,332
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1,075
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54,330
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67,279
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1,891
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3,689
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72,859
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Cost of revenues: |
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Americas |
14,167 |
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277 |
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1,512 |
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15,956 |
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19,779 |
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926 |
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1,290 |
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21,995 |
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EMEA |
9,450 |
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142 |
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83 |
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9,675 |
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11,454 |
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(40) |
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29 |
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11,443 |
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Rest of the World |
49 |
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— |
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— |
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49 |
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29 |
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— |
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— |
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29 |
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Cost of revenue, exclusive of depreciation |
23,666
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419
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1,595
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25,680
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31,262
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886
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1,319
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33,467
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Americas |
7,167 |
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— |
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— |
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7,167 |
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8,540 |
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— |
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— |
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8,540 |
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EMEA |
2,244 |
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— |
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— |
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2,244 |
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3,127 |
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— |
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— |
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3,127 |
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Rest of the World |
— |
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— |
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— |
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— |
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14 |
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— |
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— |
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14 |
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Depreciation on sharing vehicles |
9,411
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—
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—
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9,411
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11,681
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—
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—
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11,681
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Impairment of Product Sales Inventory (Retail) |
—
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—
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—
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—
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—
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—
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—
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—
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Total cost of revenues |
33,077
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419
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1,595
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35,091
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42,943
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886
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1,319
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45,148
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Total gross profit (loss) |
$ |
18,846
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$ |
913
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$ |
(520) |
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$ |
19,239
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$ |
24,336
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$ |
1,005
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$ |
2,370
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$ |
27,711
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Reconciling items: |
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Total operating expenses |
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33,872 |
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29,439 |
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Loss from operations |
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(14,633) |
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(1,728) |
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Interest income |
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6 |
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14 |
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Interest expense |
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(2,020) |
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(3,779) |
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Other income, net |
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86 |
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(3,884) |
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Loss before income taxes |
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$ |
(16,561) |
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$ |
(9,377) |
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Nine Months Ended September 30, |
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2023 |
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2022 |
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Sharing Business |
Platform Business |
Retail Business |
Total Segments |
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Sharing Business |
Platform Business |
Retail Business |
Total Segments |
Americas |
$ |
93,674 |
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$ |
1,975 |
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$ |
666 |
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$ |
96,315 |
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$ |
111,890 |
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7,350 |
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7,692 |
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$ |
126,932 |
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EMEA |
33,098 |
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993 |
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1,363 |
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35,454 |
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45,990 |
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1,737 |
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111 |
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47,838 |
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Rest of the World |
432 |
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— |
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— |
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432 |
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229 |
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— |
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— |
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229 |
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Total revenues |
$ |
127,204
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$ |
2,968
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$ |
2,029
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$ |
132,201
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$ |
158,109
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$ |
9,087
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$ |
7,803
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$ |
174,999
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Cost of revenues: |
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Americas |
37,544 |
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758 |
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1,572 |
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39,874 |
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57,432 |
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5,979 |
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7,060 |
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70,471 |
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EMEA |
20,355 |
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390 |
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767 |
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21,512 |
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28,137 |
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44 |
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143 |
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28,324 |
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Rest of the World |
211 |
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1 |
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— |
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212 |
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96 |
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— |
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— |
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96 |
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Cost of revenue, exclusive of depreciation |
58,110
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1,149
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2,339
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61,598
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85,665
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6,023
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7,203
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98,891
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Americas |
20,603 |
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— |
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— |
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20,603 |
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22,361 |
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— |
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— |
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22,361 |
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EMEA |
6,326 |
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— |
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— |
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6,326 |
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16,630 |
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— |
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— |
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16,630 |
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Rest of the World |
— |
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— |
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— |
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— |
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54 |
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— |
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— |
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54 |
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Depreciation on sharing vehicles |
26,929
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—
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—
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26,929
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39,045
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—
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—
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39,045
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Impairment of Product Sales Inventory (Retail) |
—
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—
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—
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—
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—
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—
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31,769 |
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31,769
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Total cost of revenues |
85,039
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1,149
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2,339
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88,527
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124,710
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6,023
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38,972
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169,705
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Total gross profit (loss) |
$ |
42,165
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$ |
1,819
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$ |
(310) |
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$ |
43,674
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$ |
33,399
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$ |
3,064
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$ |
(31,169) |
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$ |
5,294
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Reconciling items: |
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Total operating expenses |
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110,509 |
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447,551 |
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Loss from operations |
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(66,835) |
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(442,257) |
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Interest income |
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118 |
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95 |
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Interest expense |
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(5,894) |
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(7,871) |
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Other income, net |
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2,374 |
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128,214 |
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Loss before income taxes |
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$ |
(70,237) |
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$ |
(321,819) |
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Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas |
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.
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
(in thousands) |
2023 |
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2022 |
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2023 |
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2022 |
Revenue by country |
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USA |
$ |
33,696 |
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$ |
50,410 |
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$ |
89,195 |
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$ |
125,094 |
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All other countries |
20,635 |
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22,449 |
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43,005 |
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49,905 |
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Total |
$ |
54,330
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$ |
72,859
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$ |
132,201
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$ |
174,999
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No other country in the rest of the world exceeds 10% of Revenue.
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(in thousands) |
September 30, 2023 |
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December 31, 2022 |
Long-lived assets by country |
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USA |
$ |
135,854 |
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$ |
122,484 |
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Canada |
33,426 |
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— |
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All other countries |
16,156 |
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27,749 |
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Total |
$ |
185,436
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$ |
150,233
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