Revised Consolidated Financial Statements Information (Tables)

12 Months Ended

Dec. 31, 2024

Revised Consolidated Financial Statements Information [Abstract]

Schedule of Consolidated Results of Operations and Consolidated Balance Sheet

The following table (in thousands) sets forth the Company’s consolidated results of operations for the year ended December 31, 2023, which have been retrospectively adjusted for the impact of the immaterial errors identified as well as new financial statement presentation and discontinued operations presentation related to the Ecommerce Wind-Down.

		Year ended December 31, 2023
		As Reported				Adjustments				Discontinued Operations				Presentation Reclasses(1)				As Recasted and Revised
Total revenue		$	893,203			$	—			$	(687,215	)		$	(205,988	)		$	—
Total cost of sales			731,256				—				(692,037	)			(39,219	)			—
Total gross profit			161,947				—				4,822				(166,769	)			—

Selling, general and administrative expenses			340,657				(929	)			(205,977	)			(133,751	)			—
Depreciation and amortization			42,769								(13,656	)			(29,113	)			—
Impairment charges			48,748								(48,748	)							—
Loss from operations			(270,227	)			929				273,203				(3,905	)			—

Gain on debt extinguishment			(37,878	)			—				—				37,878				—
Interest expense			45,445								(19,556	)			(25,889	)			—
Interest income			(21,158	)							13,218				7,940				—
Other loss (income), net			108,289				—				—				(108,289	)			—

Interest income														$	178,482			$	178,482

Total interest expense															41,893				41,893
Net interest income															136,589				136,589

Realized and unrealized losses, net of recoveries															122,541				122,541
Net interest income after losses and recoveries															14,048				14,048

Total noninterest (loss) income															75,126				75,126

Total expenses															173,629				173,629

Loss before provision (benefit) for income taxes			(364,925	)			929				279,541				(84,455	)			(84,455	)
Provision (benefit) for income taxes			615								27								642
Net loss from continuing operations																			(85,097	)
Net loss from discontinued operations																			(279,514	)
Total net loss		$	(365,540	)		$	929												(364,611	)

Net loss per share attributable to common stockholders, continuing operations, basic and diluted																			(48.82	)
Net loss per share attributable to common stockholders, discontinued operations, basic and diluted																			(160.35	)
Total net loss per share attributable to common stockholders, basic and diluted		$	(209.70	)														$	(209.17	)
Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted			1,743,128																1,743,128

(1) Reflects revised presentation as a result of the Ecommerce Wind-Down.

The impacts to our Consolidated Balance Sheet as of December 31, 2023 were as follows (in thousands):

		As of December 31, 2023
		As Reported			Adjustments				Discontinued Operations				Presentation Reclasses(1)				As Recasted and Revised
ASSETS
Current Assets:
Cash and cash equivalents		$	135,585														$	135,585
Restricted cash			73,234															73,234
Accounts receivable, net of allowance			9,139							(4,413	)			(4,726	)			—
Finance receivables at fair value			12,501											(12,501	)			—
Finance receivables held for sale, net			503,546															503,546
Inventory			163,250							(163,250	)							—
Beneficial interests in securitizations			4,485											(4,485	)			—
Prepaid expenses and other current assets			50,899							(8,818	)			(42,081	)			—
Total current assets			952,639			—				(176,481	)			(63,793	)
Finance receivables at fair value			336,169											12,501				348,670
Property and equipment, net			24,132							(19,150	)							4,982
Intangible assets, net			131,892															131,892
Operating lease right-of-use assets			7,063															7,063
Interest Receivable														14,484				14,484
Other assets (including other assets of consolidated VIEs of $1.8 million)			23,527							(906	)			36,808				59,429
Assets from discontinued operations										196,537								196,537
Total assets		$	1,475,422		$	—			$	—			$	—			$	1,475,422

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable		$	26,762		$	(4,138	)		$	(6,439	)		$	(16,185	)		$	—
Accrued expenses			52,452							(27,133	)			(25,319	)			—
Vehicle floorplan			151,178							(151,178	)							—
Warehouse credit facilities of consolidated VIEs			421,268							—								421,268
Current portion of long-term debt			172,410							—				(172,410	)			—
Deferred revenue			14,025							(14,025	)							—
Operating lease liabilities, current			8,737							(6,105	)			(2,632	)			—
Other current liabilities			9,974			(1,382	)			(5,884	)			(2,708	)			—
Total current liabilities			856,806			(5,520	)			(210,764	)			(219,254	)
Long-term debt, net of current portion			454,173							—				172,410				626,583
Operating lease liabilities, excluding current portion			25,183							(17,356	)			2,632				10,459
Other long-term liabilities			17,109							—				44,212				61,321
Liabilities from discontinued operations										228,120								228,120
Total liabilities			1,353,271			(5,520	)			—				—				1,347,751

		As of December 31, 2023
		As Reported				Adjustments			Discontinued Operations			Presentation Reclasses(1)			As Recasted and Revised
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value; 500,000,000 shares authorized as of December 31, 2023; 1,791,286 shares issued and outstanding as of December 31, 2023			2													2
Additional paid-in-capital			2,088,381													2,088,381
Accumulated deficit			(1,966,232	)			5,520									(1,960,712	)
Total stockholders’ equity			122,151				5,520			—			—			127,671
Total liabilities and stockholders’ equity		$	1,475,422			$	—		$	—		$	—		$	1,475,422