BEYOND, INC., 10-K filed on 2/25/2025
Annual Report
v3.25.0.1
Cover - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2024
Feb. 21, 2025
Jun. 28, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Current Fiscal Year End Date --12-31    
Document Period End Date Dec. 31, 2024    
Document Transition Report false    
Entity File Number 001-41850    
Entity Registrant Name BEYOND, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 87-0634302    
Entity Address, Address Line One 433 W. Ascension Way, 3rd Floor    
Entity Address, City or Town Murray,    
Entity Address, State or Province UT    
Entity Address, Postal Zip Code 84123    
City Area Code 801    
Local Phone Number 947-3100    
Title of 12(b) Security Common Stock, $0.0001 par value per share    
Trading Symbol BYON    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 0.6
Entity Common Stock, Shares Outstanding   53,144,790  
Documents Incorporated by Reference
Certain information required by Part III of Form 10-K is incorporated by reference to the Registrant's proxy statement for the 2025 Annual Stockholders Meeting, which will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Report relates.
    
Entity Central Index Key 0001130713    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 31, 2024
Audit Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location Salt Lake City, Utah
Auditor Firm ID 185
v3.25.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 159,169,000 $ 302,605,000
Restricted cash 26,924,000 144,000
Accounts receivable, net of allowance for credit losses of $2,236 and $1,298 15,847,000 19,420,000
Inventories 11,546,000 13,040,000
Prepaids and other current assets 14,021,000 14,864,000
Total current assets 227,507,000 350,073,000
Property and equipment, net 23,544,000 27,577,000
Intangible assets, net 30,246,000 25,254,000
Goodwill 6,160,000 6,160,000
Equity securities, including securities measured at fair value of $21,640 and $41,046 78,186,000 155,873,000
Operating lease right-of-use assets 6,858,000 3,468,000
Other long-term assets, net 29,453,000 12,951,000
Property and equipment, net held for sale 0 54,462,000
Total assets 401,954,000 635,818,000
Current liabilities:    
Accounts payable 81,939,000 106,070,000
Accrued liabilities 73,614,000 73,682,000
Unearned revenue 43,095,000 49,597,000
Operating lease liabilities, current 1,342,000 2,814,000
Short-term debt, net 24,871,000 0
Current debt, net held for sale 0 232,000
Total current liabilities 224,861,000 232,395,000
Operating lease liabilities, non-current 6,452,000 940,000
Other long-term liabilities 7,909,000 9,107,000
Long-term debt, net held for sale 0 34,244,000
Total liabilities 239,222,000 276,686,000
Commitments and Contingencies (Note 15)
Stockholders' equity:    
Preferred stock, $0.0001 par value, authorized shares - 5,000, issued and outstanding - none 0 0
Common stock, $0.0001 par value, authorized shares - 100,000 5,000 5,000
Additional paid-in capital 1,072,869,000 1,007,649,000
Accumulated deficit (740,466,000) (481,671,000)
Accumulated other comprehensive loss 0 (506,000)
Treasury stock at cost - 6,491 and 6,356 (169,676,000) (166,345,000)
Total stockholders' equity 162,732,000 359,132,000
Total liabilities and stockholders' equity $ 401,954,000 $ 635,818,000
v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Allowance for credit losses $ 2,236 $ 1,298
Equity securities, at fair value $ 21,640 $ 41,046
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 5,000,000 5,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 100,000,000 100,000,000
Common stock, shares issued (in shares) 59,560,000 51,770,000
Common stock, shares outstanding (in shares) 53,069,000 45,414,000
Treasury stock at cost (in shares) 6,491,000 6,356,000
v3.25.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Gross Profit [Abstract]      
Net revenue $ 1,394,964 $ 1,561,122 $ 1,929,334
Cost of goods sold 1,104,800 1,195,093 1,421,721
Gross profit 290,164 366,029 507,613
Operating expenses:      
Sales and marketing 238,564 224,547 215,477
Technology 114,584 117,154 121,158
General and administrative 74,399 90,410 79,701
Customer service and merchant fees 53,586 52,023 64,269
Total operating expenses 481,133 484,134 480,605
Operating income (loss) (190,969) (118,105) 27,008
Total interest income, net 6,765 12,007 2,965
Other expense, net (73,907) (160,024) (63,825)
Loss before income taxes (258,111) (266,122) (33,852)
Provision for income taxes 684 41,720 1,384
Net loss $ (258,795) $ (307,842) $ (35,236)
Net loss per share of common stock:      
Basic (in dollars per share) $ (5.56) $ (6.81) $ (0.83)
Diluted (in dollars per share) $ (5.56) $ (6.81) $ (0.83)
Weighted average shares of common stock outstanding:      
Basic (in shares) 46,542 45,214 44,323
Diluted (in shares) 46,542 45,214 44,323
v3.25.0.1
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net loss $ (258,795) $ (307,842) $ (35,236)
Unrealized gain on cash flow hedges, net of tax of $0, $0 and $0 506 16 15
Other comprehensive income 506 16 15
Comprehensive loss $ (258,289) $ (307,826) $ (35,221)
v3.25.0.1
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Unrealized gain on cash flow hedges, tax expense $ 0 $ 0 $ 0
v3.25.0.1
Consolidated Statements of Changes in Stockholders' Equity - USD ($)
Total
Common stock
Preferred stock
Additional paid-in capital
Accumulated deficit
Accumulated other comprehensive loss
Treasury stock
Series A-1
Series A-1
Preferred stock
Series B Preferred Stock
Preferred stock
Increase (Decrease) in Stockholders' Equity                    
Preferred stock, shares outstanding (in shares)                   357,000
Beginning balance (in shares) at Dec. 31, 2021   46,625,000         3,602,000      
Increase (Decrease) in Stockholders' Equity                    
Common stock issued upon vesting of restricted stock   295,000                
Common stock issued for ESPP purchases   84,000                
Conversion of preferred stock   4,098,000                
Common stock sold through offerings   0                
Other   0                
Repurchases of common stock             2,461,000   7,000  
Tax withholding upon vesting of employee stock awards             88,000      
Ending balance (in shares) at Dec. 31, 2022   51,102,000         6,151,000      
Beginning balance at Dec. 31, 2021   $ 4,000                
Increase (Decrease) in Stockholders' Equity                    
Conversion and elimination of preferred stock   1,000                
Ending balance at Dec. 31, 2022   $ 5,000                
Beginning balance (in shares) at Dec. 31, 2021                 4,204,000  
Increase (Decrease) in Stockholders' Equity                    
Conversion and elimination of preferred stock                 (4,204,000) 357,000
Ending balance (in shares) at Dec. 31, 2022                 0  
Beginning balance (in shares) at Dec. 31, 2021                 0  
Increase (Decrease) in Stockholders' Equity                    
Treasury Stock, Shares, Retired                 7,000  
Ending balance (in shares) at Dec. 31, 2022                 0  
Beginning balance at Dec. 31, 2021       $ 960,544,000 $ (136,590,000) $ (537,000) $ (79,035,000)      
Increase (Decrease) in Stockholders' Equity                    
Stock-based compensation to employees and directors       18,318,000            
Common stock issued for ESPP purchases       2,779,000            
Conversion and elimination of preferred stock       1,043,000            
Proceeds from sale of common stock, net of offering costs $ 0     0            
Other       34,000            
Net loss (35,236,000)       (35,236,000)          
Dividend issued upon conversion and elimination of preferred stock         (1,697,000)          
Conversion and elimination of preferred stock         (306,000)          
Net other comprehensive income 15,000         15,000        
Repurchases of common stock and Series A-1 preferred stock             (80,117,000)      
Tax withholding upon vesting of employee stock awards             (3,700,000)      
Conversion and elimination of preferred stock             306,000      
Ending balance at Dec. 31, 2022 $ 645,826,000     982,718,000 (173,829,000) (522,000) $ (162,546,000)      
Increase (Decrease) in Stockholders' Equity                    
Common stock, shares outstanding (in shares) 44,951,000                  
Preferred stock, shares outstanding (in shares)                 0 0
Preferred stock, $0.0001 par value, authorized shares - 5,000, issued and outstanding - none     $ 0              
Common stock issued upon vesting of restricted stock   550,000                
Common stock issued for ESPP purchases   118,000                
Conversion of preferred stock   0                
Common stock sold through offerings   0                
Other   0                
Repurchases of common stock             0   0  
Tax withholding upon vesting of employee stock awards             205,000      
Ending balance (in shares) at Dec. 31, 2023   51,770,000         6,356,000      
Increase (Decrease) in Stockholders' Equity                    
Conversion and elimination of preferred stock   $ 0                
Ending balance at Dec. 31, 2023 $ 5,000 $ 5,000                
Increase (Decrease) in Stockholders' Equity                    
Conversion and elimination of preferred stock                 0 0
Ending balance (in shares) at Dec. 31, 2023 0               0  
Increase (Decrease) in Stockholders' Equity                    
Treasury Stock, Shares, Retired               7,244 0  
Ending balance (in shares) at Dec. 31, 2023                 0  
Increase (Decrease) in Stockholders' Equity                    
Stock-based compensation to employees and directors       23,018,000            
Common stock issued for ESPP purchases       1,913,000            
Conversion and elimination of preferred stock       0            
Proceeds from sale of common stock, net of offering costs $ 0     0            
Other       0            
Net loss (307,842,000)       (307,842,000)          
Dividend issued upon conversion and elimination of preferred stock         0          
Conversion and elimination of preferred stock         0          
Net other comprehensive income 16,000         16,000        
Repurchases of common stock and Series A-1 preferred stock             $ 0      
Tax withholding upon vesting of employee stock awards             (3,799,000)      
Conversion and elimination of preferred stock         306,000   0      
Ending balance at Dec. 31, 2023 $ 359,132,000     1,007,649,000 (481,671,000) (506,000) $ (166,345,000)      
Increase (Decrease) in Stockholders' Equity                    
Common stock, shares outstanding (in shares) 45,414,000                  
Preferred stock, shares outstanding (in shares) 0               0 0
Preferred stock, $0.0001 par value, authorized shares - 5,000, issued and outstanding - none $ 0   0              
Common stock issued upon vesting of restricted stock   441,000                
Common stock issued for ESPP purchases   119,000                
Conversion of preferred stock   0                
Common stock sold through offerings   7,002,000                
Other   228,000                
Repurchases of common stock             0   0  
Tax withholding upon vesting of employee stock awards             135,000      
Ending balance (in shares) at Dec. 31, 2024   59,560,000         6,491,000      
Increase (Decrease) in Stockholders' Equity                    
Conversion and elimination of preferred stock   $ 0                
Ending balance at Dec. 31, 2024 $ 5,000 $ 5,000                
Increase (Decrease) in Stockholders' Equity                    
Conversion and elimination of preferred stock                 0 0
Ending balance (in shares) at Dec. 31, 2024 0               0  
Increase (Decrease) in Stockholders' Equity                    
Treasury Stock, Shares, Retired                 0  
Ending balance (in shares) at Dec. 31, 2024                 0  
Increase (Decrease) in Stockholders' Equity                    
Stock-based compensation to employees and directors       19,255,000            
Common stock issued for ESPP purchases       1,472,000            
Conversion and elimination of preferred stock       0            
Proceeds from sale of common stock, net of offering costs $ 42,993,000     42,993,000            
Other       1,500,000            
Net loss (258,795,000)       (258,795,000)          
Dividend issued upon conversion and elimination of preferred stock         0          
Conversion and elimination of preferred stock         0          
Net other comprehensive income 506,000         506,000        
Repurchases of common stock and Series A-1 preferred stock             $ 0      
Tax withholding upon vesting of employee stock awards             (3,331,000)      
Conversion and elimination of preferred stock             0      
Ending balance at Dec. 31, 2024 $ 162,732,000     $ 1,072,869,000 $ (740,466,000) $ 0 $ (169,676,000)      
Increase (Decrease) in Stockholders' Equity                    
Common stock, shares outstanding (in shares) 53,069,000                  
Preferred stock, shares outstanding (in shares) 0               0 0
Preferred stock, $0.0001 par value, authorized shares - 5,000, issued and outstanding - none $ 0   $ 0              
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (258,795) $ (307,842) $ (35,236)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 19,062 19,447 16,706
Non-cash operating lease cost 3,451 4,737 5,304
Stock-based compensation to employees and directors 19,255 23,018 18,318
(Increase) decrease in deferred income taxes, net 283 41,349 (1,404)
Gain on disposal of cryptocurrencies 0 6,361 0
Gain on sale of intangible assets (10,275) 0 0
Write-down of assets held for sale 3,385 25,875 0
Loss from equity method securities 77,687 140,404 63,923
Loss on debt securities carried at fair value 2,430 0 0
Other non-cash adjustments (14) (693) 185
Changes in operating assets and liabilities:      
Accounts receivable, net 3,573 (1,727) 3,805
Inventories 1,494 (6,514) (1,389)
Prepaids and other current assets 1,293 1,889 4,076
Other long-term assets, net (2,175) (757) (1,116)
Accounts payable (24,172) 32,555 (28,821)
Accrued liabilities (31) 10,442 (36,625)
Unearned revenue (6,502) 5,117 (14,907)
Operating lease liabilities (2,819) (5,094) (5,527)
Other long-term liabilities (1,434) 5,569 173
Net cash used in operating activities (174,304) (18,586) (12,535)
Cash flows from investing activities:      
Purchase of intangible assets (6,044) (25,816) 0
Proceeds from the sale of intangible assets 10,275 0 0
Expenditures for property and equipment (14,315) (19,181) (14,899)
Disbursement for notes receivable (17,000) (10,000) 0
Proceeds from the disposal of cryptocurrencies 0 9,804 0
Proceeds from the sale of assets held for sale 51,441 0 0
Capital distribution from investment 0 4 1,224
Purchase of equity securities 0 0 (18,920)
Other investing activities, net 569 559 (439)
Net cash provided by (used in) investing activities 24,926 (44,630) (33,034)
Cash flows from financing activities:      
Repurchase of shares 0 0 (80,117)
Proceeds under short-term contract financing 25,000 0 0
Payments of taxes withheld upon vesting of employee stock awards (3,331) (3,799) (3,700)
Proceeds from sale of common stock, net of offering costs 42,993 0 0
Payments on long-term debt (34,782) (3,606) (3,447)
Proceeds from employee stock purchase plan 1,472 1,913 924
Other financing activities, net 1,370 0 0
Net cash provided by (used in) financing activities 32,722 (5,492) (86,340)
Net decrease in cash, cash equivalents, and restricted cash (116,656) (68,708) (131,909)
Cash, cash equivalents, and restricted cash, beginning of year 302,749 371,457 503,366
Cash, cash equivalents, and restricted cash, end of year $ 186,093 $ 302,749 $ 371,457
v3.25.0.1
BASIS OF PRESENTATION
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION
1. BASIS OF PRESENTATION

Business and organization

As used herein, "Beyond," "the Company," "we," "our" and similar terms include Beyond, Inc. and its controlled subsidiaries, unless the context indicates otherwise. We were formed on May 5, 1997 as D2-Discounts Direct, a limited liability company ("LLC"). On December 30, 1998, we were reorganized as a C Corporation in the State of Utah and reincorporated in Delaware in May 2002. On October 25, 1999, we changed our name to Overstock.com, Inc. and on November 6, 2023, we changed our name to Beyond, Inc.

Beyond, Inc. is an e-commerce affinity marketing company with a singular focus: connecting consumers with products and services they love. As the owner of the iconic Bed Bath & Beyond, Overstock and Zulily brands, as well as several other brands, we strive to curate an exceptional online shopping experience. Our suite of premier online retail brands allow us to offer a comprehensive array of products and add-on services, catering to customers in the United States and Canada along with customers in Mexico through trademark licensing. Our e-commerce platform, which is also accessible through our mobile app, includes www.bedbathandbeyond.com, www.bedbathandbeyond.ca, www.overstock.com, and www.zulily.com, and is collectively referred to as the "Website." From furniture, bedding, and bath essentials to patio and outdoor furniture, area rugs, tabletop and cookware, décor, storage, jewelry, watches, and fashion – we offer an extensive range of products at a smart value. In addition to products, we also offer an increasing number of add-on services across our platforms, including warranties, shipping insurance, installation services, and access to home loans.

Basis of presentation
We have prepared the accompanying consolidated financial statements pursuant to generally accepted accounting principles in the United States ("GAAP"). Preparing financial statements requires us to make estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and accompanying disclosures. Although these estimates are based on our best knowledge of current events and actions that we may undertake in the future, our actual results may be different from our estimates. The results of operations presented herein are not necessarily indicative of our results for any future period.
v3.25.0.1
ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES
2. ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES

Principles of consolidation
 
The accompanying consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All intercompany account balances and transactions have been eliminated in consolidation.
 
Use of estimates
 
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in our consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, receivables valuation, revenue recognition, loyalty program reward point and gift card breakage, sales returns, inventory valuation, asset useful lives, equity and debt securities valuation, income taxes, stock-based compensation, performance-based compensation, self-funded health insurance liabilities, and contingencies. Although these estimates are based on our best knowledge of current events and actions that we may undertake in the future, our accounting of these estimates may change from period to period. To the extent there are differences between these estimates and actual results, our consolidated financial statements may be materially affected.
Change in presentation in the income statement

In the first quarter of fiscal 2024, the Company changed the presentation for merchant fees associated with customer payments made by credit cards and other payment methods and customer service costs. Under the new presentation, the Company includes such expenses in a separate line in operating expenses labeled, "Customer service and merchant fees", whereas previously, these expenses were included in Cost of goods sold.

The Company concluded that such a change in presentation is preferable in the circumstances because the treatment of these costs as operating expenses is aligned with the changes in business and strategy. The change will also provide greater transparency in the Company's external disclosures and related communications with the market.

This change in accounting policy has been applied retrospectively, and the consolidated statements of operations reflect the effect of this accounting principle change for all periods presented. This change in presentation had no impact on Loss before income taxes, Net loss, or Net loss per share of common stock basic or diluted. The consolidated balance sheets, consolidated statements of comprehensive loss, consolidated statements of changes in stockholders' equity, and consolidated statements of cash flows were not impacted by this accounting policy change.

The change in presentation to the Company's consolidated statements of operations were as follows (in thousands):

Year ended December 31, 2023Year ended December 31, 2022
Previously reportedEffect of changeAs adjustedPreviously reportedEffect of changeAs adjusted
Cost of goods sold$1,247,116 $(52,023)$1,195,093 $1,485,990 $(64,269)$1,421,721 
Gross profit314,006 52,023 366,029 443,344 64,269 507,613 
Customer service and merchant fees— 52,023 52,023 — 64,269 64,269 

Supplemental cash flow information

The following table shows supplemental cash flow information (in thousands):
Year Ended December 31,
202420232022
Supplemental disclosures of cash flow information:  
Cash paid during the period:  
Interest paid, net of amounts capitalized$1,489 $1,598 $1,777 
Income taxes (refunded) paid, net(132)556 2,562 
Non-cash investing and financing activities:  
Purchases of property and equipment included in accounts payable and accrued liabilities$4 $211 $2,527 

See also Note 13—Leases for additional supplemental disclosures of cash flow information related to our leases.

Cash equivalents

We classify all highly liquid instruments, including instruments with an original maturity of three months or less at the time of purchase, as cash equivalents.
 
Restricted cash
 
We consider cash that is legally restricted and cash that is held as compensating balances for credit arrangements as restricted cash.
 
Fair value of financial instruments

We account for our assets and liabilities using a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. These two types of inputs have created the fair-value hierarchy below. This hierarchy requires us to minimize the use of unobservable inputs and to use observable market data, if available, when determining fair value.

•Level 1—Quoted prices for identical instruments in active markets; 
•Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and
•Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Our assets that are adjusted to fair value on a recurring basis are cash equivalents, which fair values are determined using quoted market prices from daily exchange traded markets on the closing price as of the balance sheet date and are classified as Level 1. Our recurring fair value measurements using unobservable inputs (Level 3) include our equity securities under ASC 323 accounted for under the fair value option, available-for-sale debt securities, and our debt securities carried at fair value. Our other financial instruments, including cash, restricted cash, accounts receivable, accounts payable, accrued liabilities, and debt are carried at cost, which approximates their fair value. Certain assets, including long-lived assets, certain equity securities under ASC 323, goodwill, and other intangible assets, are measured at fair value on a nonrecurring basis; that is, the assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments using fair value measurements with unobservable inputs (Level 3).

Accounts receivable, net
 
Accounts receivable consist primarily of trade amounts due from customers in the United States and uncleared credit card transactions at period end. Accounts receivables are recorded at invoiced amounts and do not bear interest. We maintain an allowance for expected credit losses based upon our business customers' financial condition and payment history, our historical collection experience, and any future expected economic conditions.
 
Inventories
 
Inventories include merchandise acquired for resale and processed returns which are accounted for using a standard costing system which approximates the first-in-first-out ("FIFO") method of accounting and are valued at the lower of cost and net realizable value. Inventory valuation requires us to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, liquidations, and expected recoverable values of each disposition category.

Prepaids and other current assets

Prepaids and other current assets represent expenses paid prior to receipt of the related goods or services, including advertising, license fees, maintenance, packaging, insurance, prepaid inventories, other miscellaneous costs, and cryptocurrencies.
Property and equipment, net
 
Property and equipment are recorded at cost and stated net of depreciation and amortization. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the related assets as follows:
 Life
(years)
Building40
Land improvements20
Building machinery and equipment
15-20
Furniture and equipment
5-7
Computer hardware
3-4
Computer software, including internal-use software and website development
2-4
 
Leasehold improvements are amortized over the shorter of the term of the related leases or estimated useful lives.

Included in property and equipment is the capitalized cost of internal-use software and website development, including software used to upgrade and enhance our Website and processes supporting our business. We capitalize costs incurred during the application development stage of internal-use software and amortize these costs over the estimated useful life. Costs incurred related to design or maintenance of internal-use software are expensed as incurred.

Upon sale or retirement of assets, cost and related accumulated depreciation and amortization are removed from the balance sheet and the resulting gain or loss is reflected in our consolidated statements of operations.

Valuation of assets held for sale

We classify assets and liabilities to be sold (disposal group) as held for sale in the period when all of the applicable criteria are met, including: (i) management commits to a plan to sell, (ii) the disposal group is available to sell in its present condition, (iii) there is an active program to locate a buyer, (iv) the disposal group is being actively marketed at a reasonable price in relation to its fair value, (v) significant changes to the plan to sell are unlikely, and (vi) the sale of the disposal group is generally probable of being completed within one year. Assets and liabilities held for sale are presented separately within the Consolidated balance sheets with any adjustments necessary to measure the disposal group at the lower of its carrying value or fair value less costs to sell. Depreciation of property and equipment is not recorded while these assets are classified as held for sale. The fair value of a disposal group, less any costs to sell, is assessed each reporting period it remains classified as held for sale and any remeasurement to the lower of carrying value or fair value less costs to sell is reported as an adjustment to the carrying value of the disposal group recorded in Other expense, net in our consolidated statements of operations. We measured our assets held for sale at fair value based on Level 1 inputs. See Note 4—Assets Held for Sale for further information.

Equity securities accounted for under the equity method under ASC 323

At December 31, 2024, we held minority interests in privately held entities, Medici Ventures, L.P., tZERO, and SpeedRoute, LLC ("SpeedRoute"), accounted for under the equity method under ASC Topic 323, Investments—Equity Method and Joint Ventures ("ASC 323"), which are included in Equity securities in our consolidated balance sheets. We can exercise significant influence, but not control, over these entities through holding more than a 20% voting interest.

Based on the nature of our ownership interests and the extent of our contributed capital, we held a variable interest in Medici Ventures, L.P. and SpeedRoute, both of which meet the definition of variable interest entities; however, we are not the primary beneficiary of these entities for purposes of consolidation as we do not have the power (either explicit or implicit), through voting rights or otherwise, to direct the activities of Medici Ventures, L.P. or SpeedRoute that most significantly impact their economic performance. Our investments in these variable interest entities totaled $60.5 million as of December 31, 2024, representing our maximum exposures to loss.
We record our proportionate share of Medici Ventures, L.P.'s net assets assuming the entity (i) liquidated its net assets at their book values and (ii) distributed the proceeds to the investors based on the distribution waterfall in the investment agreement, which reflects the fair value changes of the underlying investments of the entity, any investor-level adjustments, and any other operating income or losses of the entity, in Other expense, net in our consolidated statements of operations with corresponding adjustments to the carrying value of the asset. If such events or circumstances have occurred that may indicate the fair value of our equity interest is less than its carrying value, we estimate the fair value of our equity interest and recognize an impairment loss equal to the difference between the fair value of the security and its carrying value which is recorded in Other expense, net in our consolidated statements of operations. There is no difference between the carrying amount of our investment in the entity and the amount of underlying equity we have in the entity's net assets.

We have elected to apply the fair value option for valuing our direct minority interests in tZERO and SpeedRoute as we determined that accounting for our direct minority interests in tZERO and SpeedRoute under the fair value option would approximate the same valuation approach used by Medici Ventures, L.P. for valuing our indirect interest in tZERO and SpeedRoute and would be the most meaningful and transparent option for evaluating our continued exposure to the economics of tZERO and SpeedRoute. The fair value was determined in good faith under our valuation policy and process using generally accepted valuation approaches through the use of a third-party valuation firm. Our assessment includes a review of recent operating results and trends, recent sales/acquisitions of the equity securities, and other publicly available data.

The methods and significant assumptions to estimate the fair value of our direct minority interests in tZERO under the fair value option include using a market approach. The market approach relied upon market transaction valuations of the subject company, adjusted for changes in enterprise value for guideline public companies. Due to the last Series B financing round led by the Intercontinental Exchange, the valuation technique used to value our direct interest in tZERO was a blended market approach using a transaction backsolve adjusted for enterprise value changes in guideline public companies, with an option pricing model and a guideline public company method. The methods and significant assumptions to estimate the fair value of our direct minority interests in SpeedRoute under the fair value option include using a market approach based on latest market transaction valuations.

The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of our Level 3 equity securities:
InvestmentFair ValueValuation TechniqueUnobservable InputsInputs
tZERO$17,720 Blended market approach - transaction backsolve adjusted for enterprise value changes in guideline public companies, with an option pricing model method and guideline public company methodTerm to liquidity4.0 years
Volatility110%
Percentage change in enterprise value for guideline public companies(82.4)%
SpeedRoute3,920 Market approach - latest transactionsN/AN/A
Total$21,640 

A significant change in the term to liquidity, volatility, or percentage change in enterprise value for guideline public companies inputs could result in a significant change in the fair value measurement.

Leases

We determine if an arrangement is a lease at inception. We account for lease agreements as either operating or finance leases depending on certain defined criteria. Operating leases are recognized in Operating lease right-of-use ("ROU") assets, Operating lease liabilities, current, and Operating lease liabilities, non-current on our consolidated balance sheets. Finance leases are included in Other long-term assets, net, Other current liabilities, and Other long-term liabilities on our consolidated balance sheets. Lease assets and liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. In certain of our lease agreements, we receive rent holidays and other incentives. We recognize lease costs on a straight-line basis over the lease term without regard to deferred payment terms, such as rent holidays, that defer the
commencement date of required payments. Our lease terms may include options to extend or terminate the lease, and we adjust our measurement of the lease when it is reasonably certain that we will exercise that option. Lease payments used in measurement of the lease liability typically do not include executory costs, such as taxes, insurance, and maintenance, unless those costs can be reasonably estimated at lease commencement. Leasehold improvements are capitalized at cost and amortized over the lesser of their expected useful life or the life of the lease, without assuming renewal features, if any, are exercised. We do not separate lease and non-lease components for our leases.
 
Treasury stock
 
We account for treasury stock of our common shares under the cost method and include treasury stock as a component of stockholders' equity.

Goodwill

Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired in business combinations. Goodwill is not amortized but is tested for impairment at least annually or when we deem that a triggering event has occurred. When evaluating whether goodwill is impaired, we make a qualitative assessment to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the qualitative assessment determines that it is more likely than not that its fair value is less than its carrying amount, we compare the fair value of the reporting unit to which the goodwill is assigned to its carrying amount. If the carrying amount exceeds its fair value, an impairment loss is recognized in an amount equal to the excess of the carrying amount over the fair value of the reporting unit, not to exceed the carrying amount of the goodwill. We completed our annual goodwill impairment test as of December 31, 2024 by performing a qualitative assessment and concluded that the estimated fair value of the reporting units exceeded their carrying amount. There were no impairments to goodwill recorded during the years ended December 31, 2024, 2023 and 2022 and no other changes to the carrying amount of goodwill during the years ended December 31, 2024 and 2023. Our goodwill balance was $6.2 million as of December 31, 2024 and 2023.

Intangible assets other than goodwill

We capitalize and amortize intangible assets other than goodwill over their estimated useful lives unless such lives are indefinite. Intangible assets other than goodwill acquired separately from third parties are capitalized at cost, including any related direct acquisition costs, while such assets acquired as part of a business combination are capitalized at their acquisition-date fair value. Indefinite-lived intangible assets are tested for impairment annually or more frequently when events or circumstances indicate that the carrying value more likely than not exceeds its fair value. In addition, we routinely evaluate the remaining useful life of intangible assets not being amortized to determine whether events or circumstances continue to support an indefinite useful life, including any legal, regulatory, contractual, competitive, economic, or other factors that may limit their useful lives. Definite-lived intangible assets are amortized using the straight-line method of amortization over their useful lives, with the exception of certain intangibles (such as acquired customer lists) which are amortized using an accelerated method of amortization based on estimated customer attrition rates. These definite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable as described below under Impairment of long-lived assets.

Impairment of long-lived assets
 
We review property and equipment, right-of-use assets, and other long-lived assets, including intangible assets other than goodwill, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability is measured by a comparison of the assets' carrying amount to future undiscounted net cash flows the asset group is expected to generate. Cash flow forecasts are based on trends of historical performance and management's estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions. If such asset group is considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds their fair values. There were no impairments to long-lived assets recorded during the years ended December 31, 2024, 2023 and 2022.

Available-for-sale debt securities

During the year ended December 31, 2023, we invested $10.0 million in GrainChain, Inc. in the form of a convertible promissory note (the "Note"). The Note bears interest at an annual interest rate of 5% and accrued interest is recorded in Interest income, net in our consolidated statements of operations. The Note has a maturity date of January 3, 2025 at which time the
outstanding principal and any unpaid accrued interest will automatically convert into shares of a newly created series of preferred stock issued by GrainChain, Inc. The Note has not converted as the Company is in active discussions regarding our interests in GrainChain. The fair value of the Note, including accrued interest, was $11.0 million at December 31, 2024, which is included in Other long-term assets, net on our consolidated balance sheets.

Based on the nature of our indirect ownership interests in GrainChain, Inc. through Medici Ventures, L.P. and the extent of our contributed capital, we held a variable interest in GrainChain, Inc., which meets the definition of a variable interest entity; however, we are not the primary beneficiary of this entity for purposes of consolidation as we do not have the power (either explicit or implicit), through voting rights or otherwise, to direct the activities of GrainChain, Inc. that most significantly impact its economic performance. Our maximum exposure to loss in this variable interest entity totaled $30.6 million as of December 31, 2024, representing our direct and indirect interest in GrainChain, Inc.

Debt securities carried at fair value

In October 2024, the Company entered into a strategic business relationship with Kirkland's Stores, Inc. ("Kirkland's") which includes, among other things, entry into a secured Term Loan Credit Agreement ("Credit Agreement"). The Company provided $17.0 million in debt financing to Kirkland's, including an $8.5 million convertible promissory note and an $8.5 million non-convertible promissory note (collectively, the "Notes"). The Credit Agreement bears interest on the unpaid principal balance at an annual rate equal to the Secured Overnight Financing Rate, or SOFR rate, for a one-month, two-month or six-month SOFR period (depending on which option is elected) plus 2.75%, established by the Federal Reserve Bank of New York. The $8.5 million convertible promissory note (plus accrued interest) (the "Conversion Amount") can be converted into Kirkland's common stock at a conversion price of $1.85 per share in an amount not to exceed 19.9% of the outstanding shares at the Company's election. The Company has also committed to invest $8.0 million in Kirkland's common stock pursuant to Subscription Agreement and Investor Rights Agreement (collectively the "Subscription Agreement"), subject to receiving approval of Kirkland's stockholders. Subsequent to year end, stockholders of Kirkland's approved the additional $8.0 million investment in exchange for Kirkland's common stock. See Note 26—Subsequent Events for further information.

We have elected to present the Notes at fair value, which was $14.8 million at December 31, 2024. The balance of the Notes is included in Other long-term assets, net on our consolidated balance sheets.

Other long-term assets, net

Other long-term assets, net consist primarily of long-term prepaid expenses, deposits, available-for-sale debt securities, and debt securities carried at fair value.

Revenue recognition
 
Revenue is recognized when, or as, control of a promised product or service transfers to a customer, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring those products or services. Revenue excludes taxes that have been assessed by governmental authorities and that are directly imposed on revenue-producing transactions between the Company and its customers, including sales and use taxes. Revenue recognition is evaluated through the following five-step process:
 
1) identification of the contract with a customer;
2) identification of the performance obligations in the contract;
3) determination of the transaction price;
4) allocation of the transaction price to the performance obligations in the contract; and
5) recognition of revenue when or as a performance obligation is satisfied.

Product Revenue
    
We derive our revenue primarily through our Website but may also derive revenue from sales of merchandise through other channels. Our revenue is derived primarily from merchandise sold at a point in time and shipped to customers. Merchandise sales are fulfilled with inventory sourced through our partners or from our owned inventory. The vast majority of our sales, however, are fulfilled from inventory sourced through our partners.
Revenue is recognized when control of the product passes to the customer, typically at the date of delivery of the merchandise to the customer or the date a service is provided and is recognized in an amount that reflects the expected consideration to be received in exchange for such goods or services. As such, customer orders are recorded as unearned revenue prior to delivery of products or services ordered. As we ship high volumes of packages through multiple carriers, we use estimates to determine which shipments are delivered and, therefore, recognized as revenue at the end of the period. Our delivery date estimates are based on average shipping transit times, which are calculated using the following factors: (i) the type of shipping carrier (as carriers have different in-transit times); (ii) the fulfillment source (either our warehouses, those warehouses we control, or those of our partners); (iii) the delivery destination; and (iv) actual transit time experience, which shows that delivery date is typically one to seven business days from the date of shipment. We review and update our estimates on a quarterly basis based on our actual transit time experience. However, actual shipping times may differ from our estimates.

Generally, we require authorization from credit card or other payment vendors whose services we offer to our customers (such as PayPal, Apple Pay, Klarna), or verification of receipt of payment, before we ship products to consumers or business purchasers. We generally receive payments from our customers before our payments to our suppliers are due. We do not recognize assets associated with costs to obtain or fulfill a contract with a customer.

Shipping and handling is considered a fulfillment activity, as it takes place prior to the customer obtaining control of the merchandise, and fees charged to customers are included in net revenue upon completion of our performance obligation. We present revenue net of sales taxes, discounts, and expected refunds.

Our merchandise sales contracts include terms that could cause variability in the transaction price for items such as discounts, credits, or sales returns. Accordingly, the transaction price for product sales includes estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not occur. At the time of sale, we estimate a sales return liability for the variable consideration based on historical experience, which is recorded within Accrued liabilities in the consolidated balance sheet. We record an allowance for returns based on current period revenues and historical returns experience. We analyze actual historical returns, current economic trends and changes in order volume and acceptance of our products when evaluating the adequacy of the sales returns allowance in any accounting period.

We evaluate the criteria outlined in ASC 606-10-55, Principal versus Agent Considerations, in determining whether it is appropriate to record the gross amount of merchandise sales and related costs or the net amount earned as commissions. When we are the principal in a transaction and control the specific good or service before it is transferred to the customer, revenue is recorded gross; otherwise, revenue is recorded on a net basis. Through contractual terms with our partners, we have the ability to control the promised goods or services and as a result record the majority of our revenue on a gross basis.

Loyalty program

We have a customer membership program called Beyond+ for which we sell annual memberships. For Beyond+ memberships, we record membership fees as unearned revenue and we recognize revenue ratably over the membership period.

Members earn dollars for qualifying purchases made on our Bed Bath & Beyond website. As such, the initial transaction price giving rise to the reward dollar is allocated to each separate performance obligation based upon its relative standalone selling price. In determining the stand-alone selling price, we incorporate assumptions about the redemption rates of loyalty points. We recognize revenue for loyalty program reward dollars when customers redeem such rewards as part of a purchase on our Bed Bath & Beyond website.

We record the standalone value of reward dollars earned in unearned revenue at the time the reward dollars are earned. Loyalty program reward dollars expire 90 days after the customer's membership expires. We recognize estimated reward dollar breakage, to which we expect to be entitled, over the expected redemption period in proportion to actual redemptions by customers.

We also drive customer loyalty and trip frequency through the Welcome Rewards loyalty program, which provides customers with exclusive benefits and offers across the Bed Bath & Beyond website.

Advertising Revenue

Advertising revenues are derived primarily from sponsored links and display advertisements that are placed on our Website, distributed via email, or sent out as direct mailers. Advertising revenue is recognized in revenue when the advertising services are rendered. Advertising revenues were less than 3% of total net revenues for all periods presented.
Unearned Revenue

When the timing of our provision of goods or services is different from the timing of the payments made by our customers, we recognize a contract liability (customer payment precedes performance).

Customer orders are recorded as unearned revenue when payment is received prior to delivery of products or services ordered. We record amounts received for Beyond+ membership fees as unearned revenue and we recognize it ratably over the membership period. We record loyalty program reward dollars earned from purchases as unearned revenue at the time they are earned based upon the relative standalone selling price of the loyalty program reward dollar and we recognize it as revenue in proportion to the estimated pattern of rights exercised by the customer. If reward dollars are not redeemed, we recognize revenue upon expiration. In addition, we sell gift cards and record related unearned revenue at the time of the sale. We sell gift cards without expiration dates and we recognize revenue from a gift card upon redemption of the gift card. The unredeemed portion of our gift cards are recognized in revenue over the expected redemption period based upon the estimated pattern of rights exercised by the customer, if the gift cards are not subject to escheat laws.

Sales returns allowance
 
Revenue is recorded net of estimated returns. We record an allowance for returns based on current period revenues and historical returns experience. We analyze actual historical returns, current economic trends and changes in order volume and acceptance of our products when evaluating the adequacy of the sales returns allowance in any accounting period.

Cost of goods sold
 
Our cost of goods sold includes product costs, warehousing costs, outbound shipping costs, and handling and fulfillment costs, and is recorded in the same period in which related revenues have been recorded.

Advertising expense
 
We expense the costs of producing advertisements the first time the advertising takes place and expense the cost of communicating advertising in the period during which the advertising space or airtime is used. Internet advertising expenses are recognized as incurred based on the terms of the individual agreements, which are generally: 1) a commission for traffic driven to our Website that generates a sale or 2) a referral fee based on the number of clicks on keywords or links to our Website generated during a given period. Advertising expense is included in Sales and marketing expenses in our consolidated statements of operations. Prepaid advertising is included in Prepaids and other current assets in our consolidated balance sheets.

Stock-based compensation
 
We measure compensation expense for our outstanding unvested restricted stock awards at fair value on the date of grant and recognize compensation expense over the service period for awards at the greater of a straight-line basis or on an accelerated schedule when vesting of the share-based awards exceeds a straight-line basis. When an award is forfeited prior to the vesting date, we recognize an adjustment for the previously recognized expense in the period of the forfeiture. See Note 18—Stock-Based Awards.

We use the Black-Scholes option pricing model to determine the fair value of our employee stock purchase plan shares. The determination of the fair value of stock-based payment awards on the date of grant using an option pricing model is affected by our stock price and assumptions regarding a number of complex and subjective variables. These variables include our expected stock price volatility over the expected term of the awards, actual and projected employee stock option exercise behaviors, a risk-free interest rate and any expected dividends.

We use the Monte-Carlo valuation model to determine the fair value of the portion of our performance shares and performance share options with market conditions. The determination of the fair value of stock-based payment awards on the date of grant using the Monte-Carlo valuation model is affected by our stock price and assumptions regarding a number of complex and subjective variables. These variables include our expected stock price volatility, a risk-free interest rate, the probability of reaching the stock price performance targets, and a 20-trading-day average stock price. The portion of our performance shares with performance conditions are measured at fair value on the date of grant and the probability of the awards meeting the performance condition is not included in the grant date fair value, but is assessed quarterly for expense recognition. Compensation expense for these awards are recognized using a graded vesting schedule over the requisite service
period. To the extent that a market-based vesting award is forfeited following completion of the requisite service period, compensation expense for accounting purposes is not reversed.

Loss contingencies
 
In the normal course of business, we are involved in legal proceedings and other potential loss contingencies. We accrue a liability for such matters when it is probable that a loss has been incurred and the amount, or range of amounts, can be reasonably estimated. When only a range of probable loss can be estimated, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. We expense legal fees as incurred (See Note 15—Commitments and Contingencies).
 
Income taxes
 
Income taxes are accounted for under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.
We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In evaluating our ability to recover our deferred tax assets within the jurisdiction from which they arise, we consider all available positive and negative evidence, including projected future taxable income, scheduled reversals of our deferred tax liabilities, tax planning strategies, and results of recent operations. Our projections of future taxable income are subject to changes in how we do business, economic outlook, political climate, and other conditions such as supply chain challenges, inflation, rising interest rates, geopolitical events, and other macroeconomic conditions, and judgment is required in determining our ability to use our deferred tax assets.
We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. We recognize interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying consolidated income statements. Accrued interest and penalties are included within the related tax liability line in our consolidated balance sheets.

Net loss per share

Basic net loss per common share is computed by dividing net loss attributable to common shares by the weighted average number of common shares outstanding during the period.

Diluted net loss per share is computed by dividing net loss attributable to common shares by the weighted average number of common and potential common shares outstanding during the period. Potential common shares, comprising incremental common shares issuable from the employee stock purchase plan and restricted stock awards are included in the calculation of diluted net loss per common share to the extent such shares are dilutive.

Recently adopted accounting standards

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments' significant expenses and other segment items on an interim and annual basis. For public entities, ASU 2023-07 is required to be adopted for annual periods beginning after December 15, 2023 and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted the provisions of this ASU as of January 1, 2024, with respect to the annual disclosures beginning with the year ended December 31, 2024 and interim disclosures beginning with the three months ended March 31, 2025, including the presentation of the comparable prior periods. The adoption of this ASU resulted in additional segment reporting disclosures in the Company's consolidated financial statements.
Recently issued accounting standards

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities to disclose disaggregated information about a reporting entity's effective tax rate reconciliation as well as additional information on income taxes paid. For public entities, ASU 2023-09 is required to be adopted for annual periods beginning after December 15, 2024, with early adoption permitted. This ASU will result in us including the additional required disclosures when adopted and does not otherwise have a material impact on the Company's consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires public entities to disclose disaggregated information about certain income statement line items in the notes to the financial statements. For public entities, ASU 2024-03 is required to be adopted for annual periods beginning after December 15, 2026 and for interim periods beginning after December 15, 2027, with early adoption permitted. This ASU will result in us including the additional required disclosures when adopted and does not otherwise have a material impact on the Company's consolidated financial statements.
v3.25.0.1
FAIR VALUE MEASUREMENT
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENT
3. FAIR VALUE MEASUREMENT

The following tables summarize our assets and liabilities measured at fair value on a recurring basis using the following levels of inputs as of December 31, 2024 and 2023, as indicated (in thousands): 
 
Fair Value Measurements at December 31, 2024
 TotalLevel 1Level 2Level 3
Assets:    
Cash equivalents—Money market mutual funds$21,799 $21,799 $— $— 
Equity securities, at fair value21,640 — — 21,640 
Available-for-sale debt securities (1)10,985 — — 10,985 
Debt securities, at fair value (1)14,814 — — 14,814 
Total assets$69,238 $21,799 $— $47,439 
 
 
Fair Value Measurements at December 31, 2023
 TotalLevel 1Level 2Level 3
Assets:    
Cash equivalents—Money market mutual funds$246,425 $246,425 $— $— 
Equity securities, at fair value41,046 — — 41,046 
Available-for-sale debt securities (1)10,484 — — 10,484 
Trading securities held in a "rabbi trust" (1)496 496 — — 
Total assets$298,451 $246,921 $— $51,530 
Liabilities:    
Deferred compensation accrual "rabbi trust" (2)$513 $513 $— $— 
Total liabilities$513 $513 $— $— 
 ___________________________________________
(1)    Included in Prepaids and other current assets and Other long-term assets, net in the consolidated balance sheets.
(2)    Included in Accrued liabilities and Other long-term liabilities in the consolidated balance sheets.
The following table provides activity for our Level 3 investments during the periods presented (in thousands):
Amount
Level 3 investments at December 31, 2022
$82,787 
Increase due to purchases of Level 3 investments10,000 
Decrease in fair value of Level 3 investments(41,741)
Accrued interest on Level 3 investments484 
Level 3 investments at December 31, 2023
51,530 
Increase due to purchases of Level 3 investments17,000 
Decrease in fair value of Level 3 investments(21,836)
Accrued interest on Level 3 investments745 
Level 3 investments at December 31, 2024
$47,439 
v3.25.0.1
ASSET HELD FOR SALE
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
ASSETS HELD FOR SALE
4. ASSETS HELD FOR SALE

In December 2023, the Company committed to a plan to sell its corporate headquarters and associated building loan on the corporate headquarters (the disposal group). In September 2024, the Company entered into an agreement with Salt Lake County, a body corporate and politic of the State of Utah, to sell the Company's corporate headquarters and on December 20, 2024 (the "Closing Date"), consummated the final agreement to sell its corporate headquarters for a total sales price of $52.0 million. As a result, the Company recognized an additional write-down loss for the year ended December 31, 2024 of $3.4 million which is included in Other expense, net in its consolidated statements of operations.

In connection with the sale of the corporate headquarters, the Company entered into a lease agreement that allows the Company to continue to occupy and use the corporate headquarter's data center, comprising of approximately 5,000 square feet within the main building, and permit the data center to be served by the existing building generators (the "Data Center Lease"). Among other terms, the Data Center Lease has an initial term of five years, subject to the Company's right to terminate upon providing 30 days' notice to Salt Lake County.

The corporate headquarters was previously subject to a loan obtained by the Company from LoanCore Capital Markets LLC, with an approximate balance amount owed at closing of $34.5 million, that was repaid through a defeasance process on the Closing Date, including through the purchase of certain securities which were substituted as collateral for such loan.
v3.25.0.1
ACCOUNTS RECEIVABLE, NET
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
ACCOUNTS RECEIVABLE, NET
5. ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consist of the following (in thousands):
 December 31,
 20242023
Credit card receivables, trade$9,614 $12,081 
Accounts receivable, trade5,282 4,084 
Other receivables3,187 4,553 
18,083 20,718 
Less: allowance for credit losses(2,236)(1,298)
Total accounts receivable, net$15,847 $19,420 
v3.25.0.1
PREPAIDS AND OTHER CURRENT ASSETS
 12 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
PREPAIDS AND OTHER CURRENT ASSETS
6. PREPAIDS AND OTHER CURRENT ASSETS

Prepaids and other current assets consist of the following (in thousands):
 December 31,
 20242023
Prepaid maintenance$8,924 $8,282 
Prepaid other3,221 4,206 
Other current assets1,876 2,376 
Total prepaids and other current assets$14,021 $14,864 
v3.25.0.1
PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET
7. PROPERTY AND EQUIPMENT, NET

Property and equipment, net (excluding assets held for sale) consist of the following (in thousands):
 December 31,
 20242023
Computer hardware and software, including internal-use software and website development$202,005 $249,208 
Furniture and equipment4,098 10,919 
Leasehold improvements1,466 1,795 
207,569 261,922 
Less: accumulated depreciation(184,025)(234,345)
Total property and equipment, net$23,544 $27,577 

Capitalized costs associated with internal-use software and website development, both developed internally and acquired externally, and depreciation of costs for the same periods associated with internal-use software and website development consist of the following (in thousands):
Year ended December 31,
202420232022
Capitalized internal-use software and website development$12,517 $11,296 $7,915 
Depreciation of internal-use software and website development11,354 7,758 6,571 

Depreciation expense is classified within the corresponding operating expense categories in the consolidated statements of operations as follows (in thousands): 
Year ended December 31,
 202420232022
Cost of goods sold$396 $711 $682 
Technology17,150 14,414 12,233 
General and administrative464 3,751 3,742 
Total depreciation$18,010 $18,876 $16,657 
During the years ended December 31, 2024 and 2023, we retired $58.6 million and $8.6 million, respectively, of fully depreciated property and equipment that were removed from service in 2024 and 2023.
v3.25.0.1
INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET
8. INTANGIBLE ASSETS, NET

On March 6, 2024, we entered into an Intellectual Property Asset Purchase Agreement with Zulily ABC, LLC ("Zulily") to acquire certain intellectual property related to the Zulily brand. The aggregate purchase price, inclusive of direct acquisition-related expenses totaled $4.6 million which has been allocated to two major asset categories consisting of $3.9 million for trade names, with an indefinite useful life, and $676,000 for customer lists, with an estimated useful life of five years.
On March 31, 2024, we entered into an Asset Purchase Agreement with Indo Count Global, Inc. to sell certain intellectual property related to the Wamsutta brand which was acquired as part of our purchase of the Bed Bath & Beyond brand in June 2023, for a total sales price of $10.3 million in cash plus the assumption of certain liabilities. On April 18, 2024, we closed the transaction and received $10.3 million in cash proceeds. For the year ended December 31, 2024, we recognized the entire $10.3 million as a gain on the sale which is included in Other expense, net in our consolidated statements of operations.

Intangible assets, net consist of the following (in thousands):
December 31,
 20242023
Intangible assets subject to amortization, gross (1)$6,239 $5,331 
Less: accumulated amortization of intangible assets(3,145)(2,114)
Intangible assets subject to amortization, net3,094 3,217 
Intangible assets not subject to amortization27,152 22,037 
Total intangible assets, net$30,246 $25,254 
___________________________________________
(1)    At December 31, 2024, the weighted average remaining useful life for intangible assets subject to amortization, gross was 3.4 years.
v3.25.0.1
EQUITY SECURITIES
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
EQUITY SECURITIES
9. EQUITY SECURITIES

Equity securities consist of the following (in thousands):
December 31,
20242023
Equity securities accounted for under the equity method under ASC 323$56,546 $114,827 
Equity securities accounted for under the equity method under the fair value option21,640 41,046 
Total equity securities$78,186 $155,873 

The following table includes our equity securities accounted for under the equity method (ASC 323) and related ownership interest as of December 31, 2024:
Ownership
interest
Medici Ventures, L.P.99%
tZERO Group, Inc.28%
SpeedRoute, LLC49%

The carrying amount of our equity method securities was $78.2 million at December 31, 2024, which is included in Equity securities on our consolidated balance sheets, of which $21.6 million is valued under the fair value option (tZERO and SpeedRoute). These investments are valued using Level 3 inputs, which represents 31.3% of assets measured at fair value. For our investments in Medici Ventures, L.P., tZERO, and SpeedRoute there is no difference in the carrying amount of the assets and liabilities and our maximum exposure to loss, and there is no difference between the carrying amount of our investment in Medici Ventures, L.P. and the amount of underlying equity we have in the entity's net assets.
The following table summarizes the net loss recognized on equity method securities recorded in Other expense, net in our consolidated statements of operations (in thousands):
Years ended December 31,
202420232022
Net loss recognized on our proportionate share of the net assets of our equity method securities$(58,281)$(98,663)$(25,435)
Decrease in fair value of equity method securities held under fair value option(19,406)(41,741)(38,488)

Regulation S-X Rules 4-08(g) and 3-09

In accordance with SEC Rules 4-08(g) and 3-09 of Regulation S-X, we must determine which, if any, of our equity method securities is a "significant subsidiary". Regulation S-X mandates the use of three different tests to determine if any of our equity securities are significant subsidiaries: the investment test, the asset test, and the income test. The table below provides the summarized financial information required by Rule 4-08(g) for those equity method securities in aggregate that have met the significance criteria, presented on a quarterly lag (in thousands):
December 31,
Balance Sheet20242023
Assets$63,546 $98,544 
Liabilities(17,985)(17,166)
Equity$(45,561)$(81,378)

Years ended December 31,
Results of Operations202420232022
Revenues$12,086 $26,404 $31,187 
Pre-tax loss(20,778)(19,895)(37,619)
Net loss(20,777)(20,169)(37,477)

In accordance with Rule 3-09 of Regulation S-X, separate audited financial statements of Medici Ventures, L.P. for the periods ended September 30, 2024, 2023 and 2022, their fiscal year-ends, are being included as Exhibit 99.3, Exhibit 99.2, and Exhibit 99.1, respectively, and as such are excluded from the table above. In addition, tZERO was deemed not significant for the year ended December 31, 2024, but was significant for the years ended December 31, 2023 and 2022. In accordance with Rule 3-09 of Regulation S-X, separate audited financial statements for tZERO for the years ended December 31, 2023 and 2022, are being included as Exhibit 99.4
v3.25.0.1
OTHER LONG-TERM ASSETS, NET
 12 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER LONG-TERM ASSETS, NET
10. OTHER LONG-TERM ASSETS, NET

Other long-term assets, net consist of the following (in thousands):
 December 31,
 20242023
Debt securities carried at fair value$14,814 $— 
Available-for-sale debt securities10,985 10,484 
Prepaid other, long-term portion3,242 1,748 
Other long-term assets412 719 
Total other long-term assets, net$29,453 $12,951 
v3.25.0.1
ACCRUED LIABILITIES
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
ACCRUED LIABILITIES
11. ACCRUED LIABILITIES

Accrued liabilities consist of the following (in thousands):
 December 31,
 20242023
Accrued marketing expenses$27,935 $18,830 
Accounts payable accruals12,743 11,079 
Allowance for returns9,526 8,651 
Accrued compensation and other related costs8,345 12,912 
Sales and other taxes payable6,205 7,034 
Accrued freight4,962 8,478 
Other accrued expenses3,898 6,698 
Total accrued liabilities$73,614 $73,682 
v3.25.0.1
BORROWINGS
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
BORROWINGS
12. BORROWINGS

2020 loan agreements

In March 2020, we entered into two loan agreements. The loan agreements provide a $34.5 million Senior Note, carrying interest at an annual rate of 4.242%, and a $13.0 million Mezzanine Note, carrying interest at an annual rate of 5.002%. The loans carry a blended annual interest rate of 4.45%. The Senior Note is for a 10-year term (stated maturity date is March 6, 2030) and requires interest only payments, with the principal amount and any then unpaid interest due and payable at the end of the 10-year term. The Mezzanine Note has a stated 10-year term, though the agreement requires principal and interest payments monthly over approximately a 46-month payment period. Our debt issuance costs and debt discount are amortized using the straight-line basis which approximates the effective interest method.

In January 2024, we repaid the entire balance under the Mezzanine Note and in December 2024, in connection with the sale of our corporate headquarters, repaid the remaining $34.5 million balance under the Senior Note. See Note 4—Assets Held for Sale for further information.

Revolving line of credit

In October 2024, the Company entered into a Loan and Security Agreement (the "Loan Agreement") with BMO Bank N.A. (in such capacity, "BMO"), pursuant to which BMO agrees to lend the Company up to $25.0 million on a one-year revolving line of credit to aid the Company in securing strategic ventures. In connection with the Loan Agreement, BMO issued a revolving line of credit promissory note (the "Revolving Note") and granted a lien on the cash collateral account specified in the Loan Agreement (the "Cash Collateral Account"). The revolving line of credit bears interest on the unpaid principal balance at an annual rate equal to the Secured Overnight Financing Rate, or SOFR rate, for a one-month interest period plus 1.00%, established by the Federal Reserve Bank of New York. The Company is obligated to pay certain commitment fees on undrawn amounts under the Loan Agreement in amounts specified in the Loan Agreement. The Loan Agreement and Revolving Note will terminate on October 18, 2025 and loans thereunder may be borrowed, repaid, and reborrowed up to such date.

As of December 31, 2024, the outstanding balance on the line of credit was $25.0 million, net of $129,000 of capitalized debt issuance costs. Our total outstanding debt on the line of credit is included in Short-term debt, net on our consolidated balance sheets.

The Loan Agreement is subject to limited affirmative covenants and negative covenants, including the requirement that the Company maintain cash in the Cash Collateral Account in an amount that is three percent greater than BMO's aggregate commitments under the Loan Agreement. We are in compliance with our debt covenants and continue to monitor our ongoing compliance with our debt covenants.
v3.25.0.1
LEASES
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
LEASES
13. LEASES

We have operating leases for warehouses, office space, and data centers. Our leases have remaining lease terms of one year to eight years, some of which may include options to extend the leases perpetually, and some of which may include options to terminate the leases within one year. Variable lease costs include executory costs, such as taxes, insurance, and maintenance.

Due to the sale of our corporate headquarters, in October 2024, we entered into a sublease agreement to rent the third floor of an office building in Murray, Utah consisting of approximately 36,516 square feet of space that will be used as the Company's new corporate headquarters. The sublease commenced in December 2024 for an initial term of 100 months expiring in March 2033.

The components of lease expense were as follows (in thousands):
Years ended December 31,
202420232022
Operating lease cost$3,240 $5,257 $5,975 
Variable lease cost906 1,300 1,489 

The following tables provides a summary of other information related to leases (in thousands):
Years ended December 31,
202420232022
Cash payments included in operating cash flows from lease arrangements$3,253 $5,500 $6,237 
Right-of-use assets obtained in exchange for new operating lease liabilities7,170 836 437 

The following table provides a summary of balance sheet information related to leases:
December 31,
20242023
Weighted-average remaining lease term—operating leases6.65 years1.57 years
Weighted-average discount rate—operating leases6 %7 %
    
Maturity of lease liabilities under our non-cancellable operating leases as of December 31, 2024, are as follows (in thousands):
Payments due by period 
2025$1,749 
20261,241 
20271,127 
20281,085 
20291,114 
Thereafter3,497 
Total lease payments 9,813 
Less interest2,019 
Present value of lease liabilities$7,794 
v3.25.0.1
OTHER LONG-TERM LIABILITIES
 12 Months Ended
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]  
OTHER LONG-TERM LIABILITIES
14. OTHER LONG-TERM LIABILITIES

Other long-term liabilities consist of the following (in thousands):
 December 31,
 20242023
Unearned revenue, long-term portion$4,583 $5,583 
Income taxes payable, long-term portion3,675 3,684 
Other long-term liabilities(349)(160)
Total other long-term liabilities$7,909 $9,107 
v3.25.0.1
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
15. COMMITMENTS AND CONTINGENCIES

Legal proceedings and contingencies
 
From time to time, we are involved in litigation concerning consumer protection, employment, intellectual property, claims under the securities laws, and other commercial matters related to the conduct and operation of our business and the sale of products on our Website. In connection with such litigation, we have been in the past and we may be in the future subject to judgments requiring us to pay significant damages or associated costs. In some instances, other parties may have contractual indemnification obligations to us. However, such contractual obligations may prove unenforceable or non-collectible, and if we cannot enforce or collect on indemnification obligations, we may bear the full responsibility for damages, fees, and costs resulting from such litigation. As a result of such litigation, we may also be subject to penalties and equitable remedies that could force us to alter important business practices. Such litigation could be costly and time consuming and could divert or distract our management and key personnel from our business operations. Due to the uncertainty of litigation and depending on the amount and the timing, an unfavorable resolution of some or all of such matters could materially affect our business, results of operations, financial position, or cash flows. The nature of the loss contingencies relating to claims that have been asserted against us are described below.
 
On September 27, 2019, a purported securities class action lawsuit was filed against us and several of our former executives in the United States District Court of Utah, alleging violations under Section 10(b), Rule 10b-5, Section 20(a), and Section 20A of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Several similar lawsuits were filed shortly thereafter, all of which were consolidated into a single lawsuit with the original complaint. The Court appointed The Mangrove Partners Master Fund Ltd. as lead plaintiff in January 2020. In March 2020, lead plaintiff filed amended consolidated complaint. On September 28, 2020, the court granted our motion to dismiss the amended consolidated complaint. The plaintiffs filed another amended complaint in January 2021. On September 20, 2021, the court granted our motion to dismiss that complaint and entered judgment in our favor. Lead plaintiff appealed that decision to the United States Court of Appeals for the Tenth Circuit. On October 18, 2021, lead plaintiff filed a Notice of Appeal, appealing the ruling of the district court to the United States Court of Appeals for the Tenth Circuit. On October 15, 2024, the Tenth Circuit affirmed the District Court's order dismissing the case in its entirety. The matter is now closed.

On November 22, 2019, a stockholder derivative suit was filed against us and certain past and present directors and officers of ours in the United States District Court for the District of Delaware, with allegations that include: (i) breach of fiduciary duties, (ii) unjust enrichment, (iii) insider selling and misappropriation of the Company's information, and (iv) contribution under Sections 10(b) and 21D of the Exchange Act. On December 17, 2019, a similar lawsuit was filed in the same court, naming the same defendants, bringing similar claims, and seeking similar relief. These cases were consolidated into a single lawsuit in January 2020. In March 2020, the court entered a stay on litigation, pending the outcome of the securities class action motion to dismiss. On October 15, 2024, the Tenth Circuit affirmed the district court's order dismissing the securities class action in its entirety. On January 21, 2025, plaintiffs filed a notice of voluntary dismissal of this consolidated derivative suit. The matter is now closed.
We establish liabilities when a particular contingency is probable and estimable which are included in Accrued liabilities in our consolidated balance sheets. At December 31, 2024 and 2023, our established liabilities were not material.
v3.25.0.1
INDEMNIFICATIONS AND GUARANTEES
 12 Months Ended
Dec. 31, 2024
INDEMNIFICATIONS AND GUARANTEES  
INDEMNIFICATIONS AND GUARANTEES
16. INDEMNIFICATIONS AND GUARANTEES
 
During our normal course of business, we have made certain indemnities, commitments, and guarantees under which we may be required to make payments in relation to certain transactions. These indemnities include, but are not limited to, indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease, the
environmental indemnity we entered into in favor of the lenders under our prior loan agreements, customary indemnification arrangements in underwriting agreements and similar agreements, and indemnities to our directors and officers to the maximum extent permitted under the laws of the State of Delaware. The duration of these indemnities, commitments, and guarantees varies, and in certain cases, is indefinite. In addition, the majority of these indemnities, commitments, and guarantees do not provide for any limitation of the maximum potential future payments we could be obligated to make. As such, we are unable to estimate with any reasonableness our potential exposure under these items. We have not recorded any liability for these indemnities, commitments, and guarantees in the accompanying consolidated balance sheets. We do, however, accrue losses for any known contingent liability, including those that may arise from indemnification provisions, when future payment is both probable and reasonably estimable.
v3.25.0.1
STOCKHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY
17. STOCKHOLDERS' EQUITY

Common Stock

Each share of common stock has the right to one vote. The holders of common stock are also entitled to receive dividends declared by the Board of Directors out of funds legally available, subject to prior rights of holders of all classes of stock outstanding having priority rights as to dividends.

Preferred stock conversion

On May 12, 2022, Beyond stockholders voted to approve separate proposals to approve the amendment of the Company's Amended and Restated Certificate of Designation for both classes of its preferred stock to provide that each share of our Series A-1 and Series B preferred stock be automatically converted into 0.90 of a share of our common stock (the "Conversion"). On June 10, 2022, in connection with the completion of the Conversion, the Company issued 4,097,697 shares of our common stock in exchange for the outstanding Series A-1 and Series B preferred stock on that date. As the fair value of our common stock issued exceeded the fair value of the Series A-1 and Series B preferred stock exchanged on the Conversion date, we recognized a non-cash deemed dividend to our preferred stockholders of $1.7 million due to the excess fair value per share compared to the conversion ratio. Following the Conversion, the Company eliminated the Series A-1 and Series B preferred stock classes by filing Certificates of Elimination with the Delaware Secretary of State.

JonesTrading Sales Agreement

We entered into a Capital on DemandTM Sales Agreement (the "Sales Agreement") dated June 10, 2024 with JonesTrading Institutional Services LLC ("JonesTrading"), under which we conducted and may in the future conduct "at the market" public offerings of our common stock. Under the Sales Agreement, JonesTrading, acting as our sales agent or principal, may offer our common stock in the market on a daily basis or otherwise as we request from time to time. We have no obligation to sell additional shares under the Sales Agreement, but we may do so from time to time. For the year ended December 31, 2024, we sold 7,002,375 shares of our common stock pursuant to the Sales Agreement and have recognized $43.0 million in proceeds, net of $879,000 of offering costs, including commissions paid to JonesTrading.

Common and Preferred Stock Repurchase Program

On August 17, 2021, we announced that our Board of Directors had approved a stock repurchase program (the "Repurchase Program"), pursuant to which we may, from time to time, purchase shares of our outstanding common stock for an aggregate repurchase price not to exceed $100.0 million at any time through December 31, 2023. On December 21, 2023, we announced that our Board of Directors approved an extension and expansion of the Repurchase Program for an additional two years and expanded the repurchase amount by $50.0 million, for a total repurchase amount of up to $150.0 million of our common stock. The Repurchase Program expires in December 2025.

Repurchases under the Repurchase Program may be effected through open market purchases. The Repurchase Committee designated by the Board of Directors will determine the actual timing, number, and value of any shares repurchased under the Repurchase Program in its discretion using factors including, but not limited to, our stock price and trading volume, general market conditions, and the ongoing assessment of our capital needs. There is no assurance of the number or aggregate price of any shares that we will ultimately repurchase under the Repurchase Program, which may be extended, suspended, or terminated at any time by the Board of Directors.
For the years ended December 31, 2024 and 2023, we did not repurchase any shares of our common stock under the Repurchase Program. For the year ended December 31, 2022, we repurchased $79.8 million of our common stock and $306,000 of our Series A-1 preferred stock under the Repurchase Program at average prices of $32.41 and $42.16 per share, respectively. For the year ended December 31, 2022, we retired 7,244 shares of our Series A-1 preferred stock treasury stock which had been previously repurchased under the Repurchase Program. The retirement increased Accumulated deficit by $306,000. As of December 31, 2024, we had $69.9 million available for future share repurchases under our current repurchase authorization through December 31, 2025.
v3.25.0.1
STOCK-BASED AWARDS
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED AWARDS
18. STOCK-BASED AWARDS

We have equity incentive and compensatory plans that provide for the grant of stock-based awards, including restricted stock and performance shares, to employees and board members and provide employees the ability to purchase shares of our common stock through an employee stock purchase plan. Employee accounting applies to equity incentives and compensation granted by the Company to its own employees. When an award is forfeited prior to the vesting date, we recognize an adjustment for the previously recognized expense in the period of the forfeiture.

Stock-based compensation expense is classified within the corresponding operating expense categories on our consolidated statements of operations as follows (in thousands):
Years ended December 31,
 202420232022
Cost of goods sold$7 $37 $132 
Sales and marketing594 796 693 
Technology6,263 8,733 7,659 
General and administrative12,391 13,452 9,834 
Total stock-based compensation expense$19,255 $23,018 $18,318 

Beyond restricted stock unit awards

The Beyond, Inc. Amended and Restated 2005 Equity Incentive Plan provides for the grant of restricted stock units and other types of equity awards to employees and directors of the Company. The Compensation Committee of the Board of Directors approves grants of restricted stock unit awards to our officers, board members and employees. These restricted stock unit awards generally vest over three years at 33.3% at the end of the first year, 33.3% at the end of the second year and 33.4% at the end of the third year; subject to the recipient's continuing service to us. During the first quarter of fiscal 2024, we changed our vesting schedule for newly granted restricted stock units from three years to four years. These restricted stock unit awards will vest at 25% each year. For the year ended December 31, 2024, we granted 212,950 restricted stock awards with a cumulative grant date fair value of $6.9 million under the new vesting schedule.

The cost of restricted stock units is determined using the fair value of our common stock on the date of the grant and compensation expense is either recognized on a straight-line basis over the vesting schedule or on an accelerated schedule when vesting of restricted stock awards exceeds a straight-line basis. The cumulative amount of compensation expense recognized at any point in time is at least equal to the portion of the grant date fair value of the award that is vested at that date. 

Performance Shares

During the year ended December 31, 2024, we granted 1,512,500 performance-based shares ("PSUs") to our executive management team. A portion of each grant of PSUs (25%) is eligible to vest based on our net revenue performance and the remaining portion (75%) is eligible to vest based on our stock price performance. The PSUs tied to stock price performance will be eligible to vest in three installments upon the achievement of three separate stock price hurdles during the three-year period following the grant date, with 33% of the PSUs earned if the average per-share closing price of our common stock over any 20 consecutive trading day period equals or exceeds $40.00 per share (but in no event prior to the first anniversary of the grant date), 33% of the PSUs earned if the average per-share closing price of our common stock over any 20 consecutive trading day period equals or exceeds $50.00 per share (but in no event prior to the second anniversary of the grant date), and 34% of the PSUs earned if the average per share closing price of our common stock over any 20 consecutive trading day period equals or exceeds $60.00 per share (but in no event prior to the third anniversary of the grant date), in each case subject to the recipient’s
continued service through the vesting date. If a stock price hurdle is not achieved during the three years following the grant date, the portion of the award tied to such stock price hurdle will be forfeited.

The PSUs tied to net revenue performance will vest based on our net revenue over three years, with one-third of the PSUs eligible to vest on each of the first, second, and third anniversaries of the grant date, subject to the recipient’s continued service through the vesting date. To be eligible to vest in any tranche of the PSUs tied to net revenue performance, we must meet the GAAP net revenue goal established for the applicable year.

For the portion of the PSUs that vest based on our net revenue performance, we recognize expense as compensation cost, the fair value on the date of grant over the performance period, taking into account the probability that we will satisfy the performance goals. For the portion of the PSUs that vest based on stock price hurdles, which is a market condition, we use a Monte Carlo valuation model to estimate the fair value as of the date of grant and expense compensation cost over the vesting period regardless of whether the market condition is ultimately satisfied.

Weighted-average assumptions used in the Monte Carlo valuation model were as follows:

 December 31, 2024
Expected volatility72.27 %
Risk-free interest rate4.33 %
Expected term2.99 years
Expected dividend yield0.00 %

Stock-based compensation related to the PSUs is included in the stock-based compensation expense table above combined with the expense associated with our restricted stock units, performance share options, and ESPP. Stock-based compensation related to the PSUs was $5.9 million for the year ended December 31, 2024.

Performance Share Options

During the year ended December 31, 2024, we granted a performance-based option to purchase 2,250,000 shares of our common stock to our Executive Chairman of the Board of Directors (the "Performance Share Option"). The Performance Share Option will be eligible to vest in three installments upon the achievement of three separate stock price hurdles during the four-year period following the grant date, with 500,000 of the shares subject to the Performance Share Option, having an exercise price of $45.00 per share, becoming vested if the average per-share closing price of our common stock over any 20 consecutive trading day period following the grant date but on or prior to the second anniversary of the grant date equals or exceeds $45.00 per share (but in no event will this tranche vest prior to the first anniversary of the grant date); 750,000 of the shares subject to the Performance Share Option, having an exercise price of $50.00 per share, becoming vested if the average per-share closing price of our common stock over any 20 consecutive trading day period following the grant date but on or prior to the third anniversary of the grant date equals or exceeds $50.00 per share (but in no event will this tranche vest prior to the second anniversary of the grant date); and 1,000,000 of the shares subject to the Performance Share Option, having an exercise price of $60.00 per share, becoming vested if the average per-share closing price of our common stock over any 20 consecutive trading day period following the grant date but on or prior to the fourth anniversary of the grant date equals or exceeds $60.00 per share (but in no event will this tranche vest prior to the third anniversary of the grant date), in each case subject to the Executive Chairman's continued service through the vesting date. If a stock price hurdle is not achieved during the performance period following the grant date, the portion of the award tied to such stock price hurdle will be forfeited.

The fair value of the Performance Share Option is determined using a Monte Carlo valuation model to estimate the fair value as of the date of grant and we will expense compensation cost over the vesting period regardless of whether the market condition is ultimately satisfied.
Weighted-average assumptions used in the Monte Carlo valuation model were as follows:

 December 31, 2024
Expected volatility75.42 %
Risk-free interest rate4.42 %
Expected term3.75 years
Expected dividend yield0.00 %

Stock-based compensation related to the Performance Share Option is included in stock-based compensation expense table above combined with the expense associated with our restricted stock units, PSUs, and ESPP. Stock-based compensation related to the performance share options was $2.4 million for the year ended December 31, 2024.

The following table summarizes restricted stock unit, PSU, and Performance Share Option award activity (in thousands, except fair value data):
 202420232022
 UnitsWeighted
Average
Grant Date
Fair Value		UnitsWeighted
Average
Grant Date
Fair Value		UnitsWeighted
Average
Grant Date
Fair Value
Outstanding—beginning of year984 $29.60 781 $50.17 663 $56.37 
Granted at fair value4,068 10.68 1,101 20.92 618 42.75 
Vested(441)35.33 (550)40.27 (295)43.32 
Forfeited(1,047)18.89 (348)31.43 (205)57.77 
Outstanding—end of year3,564 $20.98 984 $29.60 781 $50.17 

At December 31, 2024, 2.5 million shares of stock remained available for future grants under the Plan.

Employee Stock Purchase Plan

The 2021 Employee Stock Purchase Plan (the "ESPP") grants our eligible employees a right to purchase shares of our common stock at a discount through payroll deductions of up to 25% of eligible compensation, subject to a cap of $21,250 in any calendar year. The ESPP provides for consecutive 24-month offering periods beginning March 1 and September 1 of each year. Each offering period shall consist of four consecutive six-month purchase periods. The first offering period under the ESPP commenced on September 1, 2021, with the first purchase date occurring on February 28, 2022.

On each purchase date, participating employees will purchase shares of our common stock at a price per share equal to 85% of the lesser of the fair market value of our common stock on (i) the offering date of the offering period or (ii) the purchase date (the "look-back" period). If the stock price of our common stock on any purchase date in an offering period is lower than the stock price on the offering date of that offering period, every participant in the offering will automatically be withdrawn from the offering after the purchase of shares on such purchase date and automatically enrolled in a new offering period commencing immediately subsequent to such purchase date.

The maximum number of shares of common stock that may be issued under the ESPP in aggregate is 3.0 million shares. For the years ended December 31, 2024 and 2023, 119,425 shares and 117,687 shares, respectively were purchased at an average price per share of $12.23 and $16.25, respectively. At December 31, 2024, approximately 2.7 million shares of common stock remained available under the ESPP.

The ESPP is considered a compensatory plan and the fair value of the discount and the look-back period will be estimated using the Black-Scholes option pricing model and expense will be recognized straight-line over the 24-month offering period. We recognized $1.1 million, $1.7 million and $2.4 million in share-based compensation expense related to the ESPP for the years ended December 31, 2024, 2023 and 2022, respectively, which are included in the stock compensation expense table above combined with the expense associated with our restricted stock units.
v3.25.0.1
EMPLOYEE RETIREMENT PLAN
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
EMPLOYEE RETIREMENT PLAN
19. EMPLOYEE RETIREMENT PLAN

We have a 401(k) defined contribution plan which permits participating employees to defer a portion of their compensation, subject to limitations established by the Internal Revenue Code. During the years ended December 31, 2024, 2023 and 2022, employees who completed 3 months of service and are 21 years of age or older are qualified to participate in the plan which matches 100% of the first 6% of each participant's contributions to the plan subject to IRS limits. Matching contributions vest immediately. Participant contributions also vest immediately. Our matching contribution totaled $4.3 million, $5.0 million and $5.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. We made no discretionary contributions to eligible participants for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
REVENUE AND CONTRACT LIABILITY
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE AND CONTRACT LIABILITY
20. REVENUE AND CONTRACT LIABILITY

Unearned revenue
 
Unearned revenue consists of the following (in thousands):
 December 31,
 20242023
Loyalty program membership fees and reward points$13,918 $16,449 
In store credits11,462 11,947 
Unearned product revenue on undelivered product11,192 14,821 
Unearned product revenue on unshipped orders3,610 4,098 
Other2,913 2,282 
Total unearned revenue$43,095 $49,597 

The following table provides information about unearned revenue from contracts with customers, including significant changes in unearned revenue balances during the period (in thousands):
Amount
Unearned revenue at December 31, 2022$44,480 
Increase due to deferral of revenue at period end, net35,290 
Decrease due to beginning contract liabilities recognized as revenue(30,173)
Unearned revenue at December 31, 202349,597 
Increase due to deferral of revenue at period end, net32,802 
Decrease due to beginning contract liabilities recognized as revenue(39,304)
Unearned revenue at December 31, 2024$43,095 

Our total unearned revenue related to outstanding loyalty program rewards was $11.1 million and $12.1 million at December 31, 2024 and 2023, respectively. Breakage income related to loyalty program rewards and gift cards is recognized in Net revenue in our consolidated statements of operations. Breakage included in revenue was $7.2 million, $5.1 million, and $4.4 million for the years ended December 31, 2024, 2023, and 2022, respectively. The timing of revenue recognition of these reward dollars is driven by actual customer activities, such as redemptions and expirations. At December 31, 2024 and 2023, we had an additional $4.6 million and $5.6 million, respectively, of unearned contract revenue classified within Other long-term liabilities on our consolidated balance sheets.
Sales returns allowance
 
The following table provides additions to and deduction from the sales returns allowance, which is included in our Accrued liabilities balance in our consolidated balance sheets (in thousands):
Amount
Allowance for returns at December 31, 2021$13,923 
Additions to the allowance161,492 
Deductions from the allowance(165,193)
Allowance for returns at December 31, 202210,222 
Additions to the allowance121,939 
Deductions from the allowance(123,510)
Allowance for returns at December 31, 20238,651 
Additions to the allowance105,353 
Deductions from the allowance(104,478)
Allowance for returns at December 31, 2024$9,526 
v3.25.0.1
INTEREST INCOME, NET
 12 Months Ended
Dec. 31, 2024
Banking and Thrift, Interest [Abstract]  
INTEREST INCOME, NET
21. INTEREST INCOME, NET

Interest income, net consisted of the following (in thousands):
 Years ended December 31,
 202420232022
Interest income$8,968 $13,769 $4,903 
Interest expense(2,203)(1,762)(1,938)
Total interest income, net$6,765 $12,007 $2,965 
v3.25.0.1
OTHER EXPENSE, NET
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
OTHER EXPENSE, NET
22. OTHER EXPENSE, NET

Other expense, net consisted of the following (in thousands):
 Years ended December 31,
 202420232022
Gain on sale of intangible assets$10,275 $— $— 
Gain on disposal of cryptocurrencies— 6,361 — 
Loss from equity method securities(77,687)(140,404)(63,923)
Write-down of assets held for sale(3,385)(25,875)— 
Loss on debt securities carried at fair value(2,430)— — 
Loss on equity securities— (36)(137)
Other(680)(70)235 
Total other expense, net $(73,907)$(160,024)$(63,825)
v3.25.0.1
INCOME TAXES
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES
23. INCOME TAXES
    
For financial reporting purposes, loss before income taxes includes the following components (in thousands):
 Years ended December 31,
 202420232022
United States loss$(259,395)$(267,058)$(35,272)
Foreign income1,284 936 1,420 
Total loss before income taxes$(258,111)$(266,122)$(33,852)

The provision for income taxes for 2024, 2023 and 2022 consists of the following (in thousands):
 Years ended December 31,
 202420232022
Current:   
Federal$— $(55)$802 
State167 369 1,874 
Foreign233 58 112 
Total current400 372 2,788 
Deferred:   
Federal119 37,160 (1,275)
State118 4,201 (50)
Foreign47 (13)(79)
Total deferred284 41,348 (1,404)
Total provision for income taxes$684 $41,720 $1,384 

The provision for income taxes for 2024, 2023 and 2022 differ from the amounts computed by applying the U.S. federal income tax rate of 21% to loss before income taxes for the following reasons (in thousands):
 Year ended December 31,
 202420232022
U.S. federal income tax benefit at statutory rate$(54,203)$(55,886)$(7,109)
State income tax expense, net of federal benefit(9,444)(12,297)(1,170)
Research and development credit(2,071)(3,245)(2,956)
Global intangible low-tax income360 (736)919 
Other, net391 (1)(67)
Non-deductible executive compensation1,286 762 905 
Stock-based compensation expense 728 2,477 219 
Change in valuation allowance63,637 110,646 10,643 
Total provision for income taxes $684 $41,720 $1,384 
The components of our deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows (in thousands):
 December 31,
 20242023
Deferred tax assets:  
Net operating loss carryforwards$73,925 $29,440 
Basis difference in equity securities53,335 34,729 
Capitalized software development33,064 25,840 
Research and development tax credits26,040 24,202 
Unearned revenue7,324 7,925 
Accrued expenses3,325 4,275 
Reserves and other2,270 2,551 
Operating lease liabilities1,902 861 
Other tax credits and carryforwards261 270 
Property and equipment, net held for sale— 6,484 
Intangible assets— 117 
Gross deferred tax assets201,446 136,694 
Valuation allowance(195,742)(132,105)
Total deferred tax assets5,704 4,589 
Deferred tax liabilities:
Property and equipment, net(3,378)(3,125)
Operating lease right-of-use assets(1,664)(786)
Intangible assets(487)— 
Prepaid expenses(368)(587)
Total deferred tax liabilities(5,897)(4,498)
Total deferred tax assets (liabilities), net$(193)$91 

At December 31, 2024, we have federal net operating loss carryforwards with no expiration date of approximately $283.2 million; the utilization of these net operating loss carryforwards is limited to 80% of taxable income in any given year. We have state net operating loss carryforwards with no expiration date of approximately $115.2 million; the utilization of these net operating loss carryforwards is limited to 80% of taxable income in the state in any given year. We also have state net operating loss carryforwards of approximately $169.0 million that expire between 2033 and 2044.

At December 31, 2024, we have federal research credit carryforwards of approximately $30.9 million that expire between 2031 and 2044. We also have state research credit carryforwards of approximately $9.9 million that expire between 2025 and 2038. Ownership changes under Internal Revenue Code Section 382 could limit the amount of net operating losses or credit carryforwards that can be used in the future.

Each quarter we assess on a jurisdictional basis whether it is more likely than not that our deferred tax assets will be realized under ASC Topic 740. We have no carryback ability, and therefore we must rely on future taxable income, including tax planning strategies and future reversals of taxable temporary differences, to recover our deferred tax assets. We assess available positive and negative evidence to estimate whether we will generate sufficient future taxable income to use our existing deferred tax assets. A significant piece of objective negative evidence evaluated as of December 31, 2024, is our cumulative loss position over a three-year period. Such objective negative evidence limits our ability to consider other more subjective evidence such as our projections for future growth. On the basis of this evaluation we intend to maintain a valuation allowance against our deferred tax assets for the U.S. jurisdiction, not supported by reversals of taxable temporary differences. For the year ended December 31, 2024, the total increase in the valuation allowance was $63.6 million. We intend to continue maintaining a valuation allowance on our net U.S. deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of these allowances. The amount of the deferred tax asset considered realizable could be adjusted if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as our projections for growth. We will continue to monitor the need for a valuation allowance against our deferred tax assets on a quarterly basis.
A reconciliation of the beginning and ending unrecognized tax benefits, excluding interest and penalties, as of December 31, 2024, 2023 and 2022 is as follows (in thousands):
 Year ended December 31,
 202420232022
Beginning balance$15,020 $13,488 $11,961 
Additions for tax positions related to the current year1,121 1,258 1,083 
Additions (reductions) for tax positions taken in prior years(452)274 444 
Ending balance$15,689 $15,020 $13,488 

Included in the balance of unrecognized tax benefits as of December 31, 2024, 2023 and 2022, are approximately $15.7 million, $15.0 million, and $13.5 million, respectively, of tax benefits that, if recognized, and the valuation allowance against our net deferred tax assets were released, would affect the effective tax rate. We believe it is reasonably possible that these unrecognized tax benefits will continue to increase in the future.

Accrued interest and penalties on unrecognized tax benefits as of December 31, 2024 and 2023 were $1.4 million and $1.3 million, respectively.

We are subject to taxation in the United States and various state and foreign jurisdictions. Tax years beginning in 2020 are subject to examination by taxing authorities, although net operating loss and credit carryforwards from all years are subject to examinations and adjustments for at least three years following the year in which the attributes are used.

As we repatriate foreign earnings for use in the United States, the distributions will generally be exempt from federal and foreign income taxes but may be subject to certain state taxes. As of December 31, 2024, the cumulative amount of foreign earnings considered permanently reinvested upon which taxes have not been provided, and the corresponding unrecognized deferred tax liability, was not material.
v3.25.0.1
NET INCOME (LOSS) PER SHARE
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE
24. NET LOSS PER SHARE

The following table sets forth the computation of basic and diluted net loss per common share for the periods indicated (in thousands, except per share data):
 Year ended December 31,
 202420232022
Numerator:
Net loss$(258,795)$(307,842)$(35,236)
Less: Preferred stock dividends—issued— — 1,697 
Net loss attributable to common stockholders$(258,795)$(307,842)$(36,933)
Denominator:
Weighted average shares of common shares outstanding—basic46,542 45,214 44,323 
Weighted average shares of common shares outstanding—diluted46,542 45,214 44,323 
Net loss per share of common stock:
Basic$(5.56)$(6.81)$(0.83)
Diluted$(5.56)$(6.81)$(0.83)

The following shares were excluded from the calculation of diluted shares outstanding as their effect would have been anti-dilutive (in thousands):
 Year ended December 31,
 202420232022
Restricted stock units, PSUs, and Performance Share Option2,647 984 781 
Employee stock purchase plan190 186 116 
v3.25.0.1
BUSINESS SEGMENTS
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
BUSINESS SEGMENTS
25. BUSINESS SEGMENTS

Segment Operations: We currently have one reportable segment, which is our Retail business. The reportable segment is comprised of our Overstock.com operating segment and our Bed Bath & Beyond operating segment, which are aggregated into a single reportable Retail segment due to their similar economic characteristics and business activities. The Bed Bath & Beyond operating segment includes results from our Zulily brand, which are not material to the business and are not separately reviewed by the Chief Operating Decision Maker. The reporting segment primarily derives revenues from e-commerce sales of home furnishing merchandise through our suite of websites and mobile apps.

The accounting policies of the Retail segment are the same as those described in the summary of significant accounting policies. The Chief Operating Decision Maker (CODM), who is our Executive Chairman of the Board of Directors, makes resource allocation decisions based on reports that focus predominantly on Net Revenues, Gross Profit, Sales and Marketing as a percentage of Gross Profit, Technology, and General & Administrative expenses as a percentage of Gross Profit, as well as Operating Income (Loss) measured under GAAP, as reported on our Consolidated Statement of Operations. The CODM also receives our Consolidated Cash and Cash Equivalents balance as a measure of liquidity as reported on our Consolidated Balance Sheet. The CODM uses Operating Income (Loss) to evaluate income generated from segment resources in deciding whether to reinvest profits into the retail segment or into other parts of the entity, such as to make acquisitions or investments. The CODM also uses Operating Income (Loss) to monitor budget versus actual results. The monitoring of budgeted versus actual results is used in assessing performance of the segment and in establishing bonus metrics.
Cost of Goods Sold, Sales & Marketing, Technology, General & Administrative, and Customer Service and Merchant Fees, as reported on our Consolidated Statement of Operations, are significant expenses evaluated by our CODM. The measure of segments assets is reported on the Consolidated Balance Sheet as Cash and Cash Equivalents.
v3.25.0.1
SUBSEQUENT EVENTS
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
26. SUBSEQUENT EVENTS

Buy Buy Baby

On January 30, 2025, the Company entered into an asset purchase agreement with BBBY Acquisition Co. LLC to acquire the rights of the Buy Buy Baby brand, as well as assets, information and content related to the associated Buy Buy Baby website, including trademarks, domain names, data, information, content, select contractual rights, and goodwill associated with the brand for a total purchase price of $5.0 million payable at the closing of the transaction following a due diligence period. In addition, we are assuming an immaterial amount of outstanding payable liabilities owed to existing Buy Buy Baby merchandise vendors through supplier transition agreements signed directly with the vendors. On February 21, 2025, we closed the transaction and paid the total purchase price of $5.0 million at closing.

Kirkland's Stores, Inc.

On February 5, 2025, the stockholders of Kirkland's voted to approve the conversion of $8.5 million of Kirkland's convertible debt (plus accrued interest) held by the Company into shares of Kirkland's common stock. Further, Kirkland's stockholders also voted to approve the Company’s incremental $8 million investment in Kirkland's in exchange for receiving shares in Kirkland's common stock pursuant to a Subscription Agreement and Investor Rights Agreement. Upon the approval of the Conversion and the Subscription Agreement, the Company owns a total of approximately 40% of Kirkland’s outstanding shares of common stock leaving the $8.5 million of Kirkland's non-convertible promissory note (plus accrued interest) remaining.

The Container Store Group, Inc.

On January 31, 2025, the Company terminated the agreements entered into with The Container Store Group in October 2024 as previously disclosed in our Form 10-Q for the quarter ended September 30, 2024 filed with the SEC on October 25, 2024.
v3.25.0.1
Schedule II Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II Valuation and Qualifying Accounts
Schedule II
Valuation and Qualifying Accounts
(in thousands)
Balance at
Beginning of
Year		Charged to
Expense		DeductionsBalance at
End of Year
Year ended December 31, 2024    
Deferred tax valuation allowance$132,105 $63,637 $— $195,742 
Allowance for sales returns8,651 105,353 104,478 9,526 
Allowance for doubtful accounts1,298 938 — 2,236 
Year ended December 31, 2023    
Deferred tax valuation allowance$21,459 $110,646 $— $132,105 
Allowance for sales returns10,222 121,939 123,510 8,651 
Allowance for doubtful accounts3,223 (1,925)— 1,298 
Year ended December 31, 2022    
Deferred tax valuation allowance$11,384 $10,075 $— $21,459 
Allowance for sales returns13,923 161,492 165,193 10,222 
Allowance for doubtful accounts2,429 794 — 3,223 
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net loss $ (258,795) $ (307,842) $ (35,236)
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Dec. 31, 2024
shares
Dec. 31, 2024
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Dave Nielsen [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On November 11, 2024, Dave Nielsen, President of the Company, adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) to sell up to 5,528 shares of Beyond, Inc. common stock between March 5, 2025 and December 31, 2025, subject to certain conditions.
Name Dave Nielsen  
Title President  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date November 11, 2024  
Expiration Date December 31, 2025  
Arrangement Duration 301 days  
Aggregate Available 5,528 5,528
Adrianne Lee [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On November 11, 2024, Adrianne Lee, Chief Financial & Administrative Officer of the Company, adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) to sell up to 4,400 shares of Beyond, Inc. common stock between March 5, 2025 and December 31, 2025, subject to certain conditions.
Name Adrianne Lee  
Title Chief Financial & Administrative Officer  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date November 11, 2024  
Expiration Date December 31, 2025  
Arrangement Duration 301 days  
Aggregate Available 4,400 4,400
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Cybersecurity Risk Management and Strategy

Our company recognizes the critical importance of cybersecurity in our digital operations and has established a risk management program to address both internal and external cybersecurity threats. This program, guided by industry frameworks like NIST CSF and overseen by experienced leadership teams, integrates advanced security tools and practices into our broader enterprise risk management system, actively involving our Executive team and Board of Directors (the "Board") in its oversight. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use NIST CSF and similar frameworks as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business.

Despite our efforts and resource allocation, we acknowledge the challenges posed by the evolving nature of cyber threats and the limitations in fully mitigating these risks. We have not observed any significant impacts from known cybersecurity threats, including as a result of any previous cybersecurity incidents, that have materially affected our operational results and strategic or financial condition. Criteria used to determine the materiality of an incident includes, but is not limited to, evaluating the scope, nature, type, systems, data, operational impact, and pervasiveness of the incident. Materiality also considers both quantitative and qualitative factors in determining impact. Nevertheless, given the unpredictable nature of cyber threats, we cannot assure that potential future impacts will not have a material impact. See "Risk Factors – If we or our third-party providers experience cyberattacks or data security incidents, there may be damage to our brand and reputation, material financial penalties, and legal liability, which would materially adversely affect our business, results of operations, and financial condition."

Key elements of our cybersecurity risk management program include, but are not limited to, the following:
•risk assessments designed to help identify material risks from cybersecurity threats to our critical systems and information;
•a security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents;
•the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security processes;
•cybersecurity awareness training of our employees, including incident response personnel and senior management;
•a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and
•a third-party risk management process for key service providers based on our assessment of their criticality to our operations and respective risk profile.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] This program, guided by industry frameworks like NIST CSF and overseen by experienced leadership teams, integrates advanced security tools and practices into our broader enterprise risk management system, actively involving our Executive team and Board of Directors (the "Board") in its oversight.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Cybersecurity Governance

Our Board of Directors oversees the organization's preparedness for cyber threats as part of its risk oversight function. This involves working to understand our risk profile, reviewing our cybersecurity processes, and maintaining an incident response plan. The Board strives to engage in active participation in continuous cybersecurity strategy improvement. In March 2023, the Board enhanced its cybersecurity expertise with the addition of Joanna Burkey. Ms. Burkey has an extensive cybersecurity background and has served as Chief Information Security Officer (CISO) at both HP and Siemens.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Our Board of Directors oversees the organization's preparedness for cyber threats as part of its risk oversight function.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Audit Committee, designated as the responsible body for risk management and compliance oversight, endeavors to ensures information flow of risk by regularly reporting its activities to the Board, including those related to cybersecurity. Our cybersecurity program is led by our Chief Information Security Officer (CISO), who has over 20 years of experience in the cybersecurity field, and who is primarily responsible for assessing and managing material risks from cybersecurity threats. Their expertise is supported by industry certifications, regular participation in leading advanced training programs, and advisement roles. The CISO leads a dedicated team of security professionals who provide coverage of critical program capabilities. Our CISO and larger cybersecurity risk management team take steps to stay informed about and monitor efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private
sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in our IT environment.

Our CISO provides regular reports to the Audit and Technology Committees, senior management, and relevant stakeholders, for the purpose of keeping them informed on evolving cyber threats, ongoing assessments, and any significant findings. This collaborative approach is intended to support informed decision-making, and timely response to potential risks, safeguarding our critical assets and valuable information.
Cybersecurity Risk Role of Management [Text Block]
Our CISO provides regular reports to the Audit and Technology Committees, senior management, and relevant stakeholders, for the purpose of keeping them informed on evolving cyber threats, ongoing assessments, and any significant findings. This collaborative approach is intended to support informed decision-making, and timely response to potential risks, safeguarding our critical assets and valuable information.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our cybersecurity program is led by our Chief Information Security Officer (CISO), who has over 20 years of experience in the cybersecurity field, and who is primarily responsible for assessing and managing material risks from cybersecurity threats.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our cybersecurity program is led by our Chief Information Security Officer (CISO), who has over 20 years of experience in the cybersecurity field, and who is primarily responsible for assessing and managing material risks from cybersecurity threats. Their expertise is supported by industry certifications, regular participation in leading advanced training programs, and advisement roles.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The CISO leads a dedicated team of security professionals who provide coverage of critical program capabilities. Our CISO and larger cybersecurity risk management team take steps to stay informed about and monitor efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private
sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in our IT environment.

Our CISO provides regular reports to the Audit and Technology Committees, senior management, and relevant stakeholders, for the purpose of keeping them informed on evolving cyber threats, ongoing assessments, and any significant findings. This collaborative approach is intended to support informed decision-making, and timely response to potential risks, safeguarding our critical assets and valuable information.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Principles of consolidation
Principles of consolidation
 
The accompanying consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All intercompany account balances and transactions have been eliminated in consolidation.
Use of estimates
Use of estimates
 
The preparation of financial statements in conformity with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent liabilities in our consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, receivables valuation, revenue recognition, loyalty program reward point and gift card breakage, sales returns, inventory valuation, asset useful lives, equity and debt securities valuation, income taxes, stock-based compensation, performance-based compensation, self-funded health insurance liabilities, and contingencies. Although these estimates are based on our best knowledge of current events and actions that we may undertake in the future, our accounting of these estimates may change from period to period. To the extent there are differences between these estimates and actual results, our consolidated financial statements may be materially affected.
Change in presentation in the income statement
Change in presentation in the income statement

In the first quarter of fiscal 2024, the Company changed the presentation for merchant fees associated with customer payments made by credit cards and other payment methods and customer service costs. Under the new presentation, the Company includes such expenses in a separate line in operating expenses labeled, "Customer service and merchant fees", whereas previously, these expenses were included in Cost of goods sold.

The Company concluded that such a change in presentation is preferable in the circumstances because the treatment of these costs as operating expenses is aligned with the changes in business and strategy. The change will also provide greater transparency in the Company's external disclosures and related communications with the market.

This change in accounting policy has been applied retrospectively, and the consolidated statements of operations reflect the effect of this accounting principle change for all periods presented. This change in presentation had no impact on Loss before income taxes, Net loss, or Net loss per share of common stock basic or diluted. The consolidated balance sheets, consolidated statements of comprehensive loss, consolidated statements of changes in stockholders' equity, and consolidated statements of cash flows were not impacted by this accounting policy change.
Cash equivalents
Cash equivalents
We classify all highly liquid instruments, including instruments with an original maturity of three months or less at the time of purchase, as cash equivalents.
Restricted cash
Restricted cash
 
We consider cash that is legally restricted and cash that is held as compensating balances for credit arrangements as restricted cash.
Fair value of financial instruments
Fair value of financial instruments

We account for our assets and liabilities using a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. These two types of inputs have created the fair-value hierarchy below. This hierarchy requires us to minimize the use of unobservable inputs and to use observable market data, if available, when determining fair value.

•Level 1—Quoted prices for identical instruments in active markets; 
•Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and
•Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Our assets that are adjusted to fair value on a recurring basis are cash equivalents, which fair values are determined using quoted market prices from daily exchange traded markets on the closing price as of the balance sheet date and are classified as Level 1. Our recurring fair value measurements using unobservable inputs (Level 3) include our equity securities under ASC 323 accounted for under the fair value option, available-for-sale debt securities, and our debt securities carried at fair value. Our other financial instruments, including cash, restricted cash, accounts receivable, accounts payable, accrued liabilities, and debt are carried at cost, which approximates their fair value. Certain assets, including long-lived assets, certain equity securities under ASC 323, goodwill, and other intangible assets, are measured at fair value on a nonrecurring basis; that is, the assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments using fair value measurements with unobservable inputs (Level 3).
Accounts receivable
Accounts receivable, net
 
Accounts receivable consist primarily of trade amounts due from customers in the United States and uncleared credit card transactions at period end. Accounts receivables are recorded at invoiced amounts and do not bear interest.
Allowance for doubtful accounts We maintain an allowance for expected credit losses based upon our business customers' financial condition and payment history, our historical collection experience, and any future expected economic conditions.
Inventories
Inventories
 
Inventories include merchandise acquired for resale and processed returns which are accounted for using a standard costing system which approximates the first-in-first-out ("FIFO") method of accounting and are valued at the lower of cost and net realizable value. Inventory valuation requires us to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, liquidations, and expected recoverable values of each disposition category.
Prepaids and other current assets
Prepaids and other current assets
Prepaids and other current assets represent expenses paid prior to receipt of the related goods or services, including advertising, license fees, maintenance, packaging, insurance, prepaid inventories, other miscellaneous costs, and cryptocurrencies.
Property and equipment, net
Property and equipment, net
 
Property and equipment are recorded at cost and stated net of depreciation and amortization. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the related assets as follows:
 Life
(years)
Building40
Land improvements20
Building machinery and equipment
15-20
Furniture and equipment
5-7
Computer hardware
3-4
Computer software, including internal-use software and website development
2-4
 
Leasehold improvements are amortized over the shorter of the term of the related leases or estimated useful lives.

Included in property and equipment is the capitalized cost of internal-use software and website development, including software used to upgrade and enhance our Website and processes supporting our business. We capitalize costs incurred during the application development stage of internal-use software and amortize these costs over the estimated useful life. Costs incurred related to design or maintenance of internal-use software are expensed as incurred.
Upon sale or retirement of assets, cost and related accumulated depreciation and amortization are removed from the balance sheet and the resulting gain or loss is reflected in our consolidated statements of operations.
Valuation of assets held for sale and Impairment of long-lived assets
Valuation of assets held for sale

We classify assets and liabilities to be sold (disposal group) as held for sale in the period when all of the applicable criteria are met, including: (i) management commits to a plan to sell, (ii) the disposal group is available to sell in its present condition, (iii) there is an active program to locate a buyer, (iv) the disposal group is being actively marketed at a reasonable price in relation to its fair value, (v) significant changes to the plan to sell are unlikely, and (vi) the sale of the disposal group is generally probable of being completed within one year. Assets and liabilities held for sale are presented separately within the Consolidated balance sheets with any adjustments necessary to measure the disposal group at the lower of its carrying value or fair value less costs to sell. Depreciation of property and equipment is not recorded while these assets are classified as held for sale. The fair value of a disposal group, less any costs to sell, is assessed each reporting period it remains classified as held for sale and any remeasurement to the lower of carrying value or fair value less costs to sell is reported as an adjustment to the carrying value of the disposal group recorded in Other expense, net in our consolidated statements of operations. We measured our assets held for sale at fair value based on Level 1 inputs. See Note 4—Assets Held for Sale for further information.
Impairment of long-lived assets
 
We review property and equipment, right-of-use assets, and other long-lived assets, including intangible assets other than goodwill, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability is measured by a comparison of the assets' carrying amount to future undiscounted net cash flows the asset group is expected to generate. Cash flow forecasts are based on trends of historical performance and management's estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions. If such asset group is considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds their fair values. There were no impairments to long-lived assets recorded during the years ended December 31, 2024, 2023 and 2022.
Equity securities under ASC 323 and Debt securities carried at fair value
Equity securities accounted for under the equity method under ASC 323

At December 31, 2024, we held minority interests in privately held entities, Medici Ventures, L.P., tZERO, and SpeedRoute, LLC ("SpeedRoute"), accounted for under the equity method under ASC Topic 323, Investments—Equity Method and Joint Ventures ("ASC 323"), which are included in Equity securities in our consolidated balance sheets. We can exercise significant influence, but not control, over these entities through holding more than a 20% voting interest.

Based on the nature of our ownership interests and the extent of our contributed capital, we held a variable interest in Medici Ventures, L.P. and SpeedRoute, both of which meet the definition of variable interest entities; however, we are not the primary beneficiary of these entities for purposes of consolidation as we do not have the power (either explicit or implicit), through voting rights or otherwise, to direct the activities of Medici Ventures, L.P. or SpeedRoute that most significantly impact their economic performance. Our investments in these variable interest entities totaled $60.5 million as of December 31, 2024, representing our maximum exposures to loss.
We record our proportionate share of Medici Ventures, L.P.'s net assets assuming the entity (i) liquidated its net assets at their book values and (ii) distributed the proceeds to the investors based on the distribution waterfall in the investment agreement, which reflects the fair value changes of the underlying investments of the entity, any investor-level adjustments, and any other operating income or losses of the entity, in Other expense, net in our consolidated statements of operations with corresponding adjustments to the carrying value of the asset. If such events or circumstances have occurred that may indicate the fair value of our equity interest is less than its carrying value, we estimate the fair value of our equity interest and recognize an impairment loss equal to the difference between the fair value of the security and its carrying value which is recorded in Other expense, net in our consolidated statements of operations. There is no difference between the carrying amount of our investment in the entity and the amount of underlying equity we have in the entity's net assets.

We have elected to apply the fair value option for valuing our direct minority interests in tZERO and SpeedRoute as we determined that accounting for our direct minority interests in tZERO and SpeedRoute under the fair value option would approximate the same valuation approach used by Medici Ventures, L.P. for valuing our indirect interest in tZERO and SpeedRoute and would be the most meaningful and transparent option for evaluating our continued exposure to the economics of tZERO and SpeedRoute. The fair value was determined in good faith under our valuation policy and process using generally accepted valuation approaches through the use of a third-party valuation firm. Our assessment includes a review of recent operating results and trends, recent sales/acquisitions of the equity securities, and other publicly available data.

The methods and significant assumptions to estimate the fair value of our direct minority interests in tZERO under the fair value option include using a market approach. The market approach relied upon market transaction valuations of the subject company, adjusted for changes in enterprise value for guideline public companies. Due to the last Series B financing round led by the Intercontinental Exchange, the valuation technique used to value our direct interest in tZERO was a blended market approach using a transaction backsolve adjusted for enterprise value changes in guideline public companies, with an option pricing model and a guideline public company method. The methods and significant assumptions to estimate the fair value of our direct minority interests in SpeedRoute under the fair value option include using a market approach based on latest market transaction valuations.

The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of our Level 3 equity securities:
InvestmentFair ValueValuation TechniqueUnobservable InputsInputs
tZERO$17,720 Blended market approach - transaction backsolve adjusted for enterprise value changes in guideline public companies, with an option pricing model method and guideline public company methodTerm to liquidity4.0 years
Volatility110%
Percentage change in enterprise value for guideline public companies(82.4)%
SpeedRoute3,920 Market approach - latest transactionsN/AN/A
Total$21,640 

A significant change in the term to liquidity, volatility, or percentage change in enterprise value for guideline public companies inputs could result in a significant change in the fair value measurement.
Debt securities carried at fair value

In October 2024, the Company entered into a strategic business relationship with Kirkland's Stores, Inc. ("Kirkland's") which includes, among other things, entry into a secured Term Loan Credit Agreement ("Credit Agreement"). The Company provided $17.0 million in debt financing to Kirkland's, including an $8.5 million convertible promissory note and an $8.5 million non-convertible promissory note (collectively, the "Notes"). The Credit Agreement bears interest on the unpaid principal balance at an annual rate equal to the Secured Overnight Financing Rate, or SOFR rate, for a one-month, two-month or six-month SOFR period (depending on which option is elected) plus 2.75%, established by the Federal Reserve Bank of New York. The $8.5 million convertible promissory note (plus accrued interest) (the "Conversion Amount") can be converted into Kirkland's common stock at a conversion price of $1.85 per share in an amount not to exceed 19.9% of the outstanding shares at the Company's election. The Company has also committed to invest $8.0 million in Kirkland's common stock pursuant to Subscription Agreement and Investor Rights Agreement (collectively the "Subscription Agreement"), subject to receiving approval of Kirkland's stockholders. Subsequent to year end, stockholders of Kirkland's approved the additional $8.0 million investment in exchange for Kirkland's common stock. See Note 26—Subsequent Events for further information.

We have elected to present the Notes at fair value, which was $14.8 million at December 31, 2024. The balance of the Notes is included in Other long-term assets, net on our consolidated balance sheets.
Leases
Leases

We determine if an arrangement is a lease at inception. We account for lease agreements as either operating or finance leases depending on certain defined criteria. Operating leases are recognized in Operating lease right-of-use ("ROU") assets, Operating lease liabilities, current, and Operating lease liabilities, non-current on our consolidated balance sheets. Finance leases are included in Other long-term assets, net, Other current liabilities, and Other long-term liabilities on our consolidated balance sheets. Lease assets and liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. In certain of our lease agreements, we receive rent holidays and other incentives. We recognize lease costs on a straight-line basis over the lease term without regard to deferred payment terms, such as rent holidays, that defer the
commencement date of required payments. Our lease terms may include options to extend or terminate the lease, and we adjust our measurement of the lease when it is reasonably certain that we will exercise that option. Lease payments used in measurement of the lease liability typically do not include executory costs, such as taxes, insurance, and maintenance, unless those costs can be reasonably estimated at lease commencement. Leasehold improvements are capitalized at cost and amortized over the lesser of their expected useful life or the life of the lease, without assuming renewal features, if any, are exercised. We do not separate lease and non-lease components for our leases.
Treasury stock
Treasury stock
 
We account for treasury stock of our common shares under the cost method and include treasury stock as a component of stockholders' equity.
Goodwill
Goodwill

Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired in business combinations. Goodwill is not amortized but is tested for impairment at least annually or when we deem that a triggering event has occurred. When evaluating whether goodwill is impaired, we make a qualitative assessment to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the qualitative assessment determines that it is more likely than not that its fair value is less than its carrying amount, we compare the fair value of the reporting unit to which the goodwill is assigned to its carrying amount. If the carrying amount exceeds its fair value, an impairment loss is recognized in an amount equal to the excess of the carrying amount over the fair value of the reporting unit, not to exceed the carrying amount of the goodwill. We completed our annual goodwill impairment test as of December 31, 2024 by performing a qualitative assessment and concluded that the estimated fair value of the reporting units exceeded their carrying amount. There were no impairments to goodwill recorded during the years ended December 31, 2024, 2023 and 2022 and no other changes to the carrying amount of goodwill during the years ended December 31, 2024 and 2023. Our goodwill balance was $6.2 million as of December 31, 2024 and 2023.
Intangible assets other than goodwill
Intangible assets other than goodwill

We capitalize and amortize intangible assets other than goodwill over their estimated useful lives unless such lives are indefinite. Intangible assets other than goodwill acquired separately from third parties are capitalized at cost, including any related direct acquisition costs, while such assets acquired as part of a business combination are capitalized at their acquisition-date fair value. Indefinite-lived intangible assets are tested for impairment annually or more frequently when events or circumstances indicate that the carrying value more likely than not exceeds its fair value. In addition, we routinely evaluate the remaining useful life of intangible assets not being amortized to determine whether events or circumstances continue to support an indefinite useful life, including any legal, regulatory, contractual, competitive, economic, or other factors that may limit their useful lives. Definite-lived intangible assets are amortized using the straight-line method of amortization over their useful lives, with the exception of certain intangibles (such as acquired customer lists) which are amortized using an accelerated method of amortization based on estimated customer attrition rates. These definite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable as described below under Impairment of long-lived assets.
Available-for-sale debt securities
Available-for-sale debt securities

During the year ended December 31, 2023, we invested $10.0 million in GrainChain, Inc. in the form of a convertible promissory note (the "Note"). The Note bears interest at an annual interest rate of 5% and accrued interest is recorded in Interest income, net in our consolidated statements of operations. The Note has a maturity date of January 3, 2025 at which time the
outstanding principal and any unpaid accrued interest will automatically convert into shares of a newly created series of preferred stock issued by GrainChain, Inc. The Note has not converted as the Company is in active discussions regarding our interests in GrainChain. The fair value of the Note, including accrued interest, was $11.0 million at December 31, 2024, which is included in Other long-term assets, net on our consolidated balance sheets.

Based on the nature of our indirect ownership interests in GrainChain, Inc. through Medici Ventures, L.P. and the extent of our contributed capital, we held a variable interest in GrainChain, Inc., which meets the definition of a variable interest entity; however, we are not the primary beneficiary of this entity for purposes of consolidation as we do not have the power (either explicit or implicit), through voting rights or otherwise, to direct the activities of GrainChain, Inc. that most significantly impact its economic performance. Our maximum exposure to loss in this variable interest entity totaled $30.6 million as of December 31, 2024, representing our direct and indirect interest in GrainChain, Inc.
Other long-term assets, net
Other long-term assets, net

Other long-term assets, net consist primarily of long-term prepaid expenses, deposits, available-for-sale debt securities, and debt securities carried at fair value.
Revenue recognition
Revenue recognition
 
Revenue is recognized when, or as, control of a promised product or service transfers to a customer, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for transferring those products or services. Revenue excludes taxes that have been assessed by governmental authorities and that are directly imposed on revenue-producing transactions between the Company and its customers, including sales and use taxes. Revenue recognition is evaluated through the following five-step process:
 
1) identification of the contract with a customer;
2) identification of the performance obligations in the contract;
3) determination of the transaction price;
4) allocation of the transaction price to the performance obligations in the contract; and
5) recognition of revenue when or as a performance obligation is satisfied.

Product Revenue
    
We derive our revenue primarily through our Website but may also derive revenue from sales of merchandise through other channels. Our revenue is derived primarily from merchandise sold at a point in time and shipped to customers. Merchandise sales are fulfilled with inventory sourced through our partners or from our owned inventory. The vast majority of our sales, however, are fulfilled from inventory sourced through our partners.
Revenue is recognized when control of the product passes to the customer, typically at the date of delivery of the merchandise to the customer or the date a service is provided and is recognized in an amount that reflects the expected consideration to be received in exchange for such goods or services. As such, customer orders are recorded as unearned revenue prior to delivery of products or services ordered. As we ship high volumes of packages through multiple carriers, we use estimates to determine which shipments are delivered and, therefore, recognized as revenue at the end of the period. Our delivery date estimates are based on average shipping transit times, which are calculated using the following factors: (i) the type of shipping carrier (as carriers have different in-transit times); (ii) the fulfillment source (either our warehouses, those warehouses we control, or those of our partners); (iii) the delivery destination; and (iv) actual transit time experience, which shows that delivery date is typically one to seven business days from the date of shipment. We review and update our estimates on a quarterly basis based on our actual transit time experience. However, actual shipping times may differ from our estimates.

Generally, we require authorization from credit card or other payment vendors whose services we offer to our customers (such as PayPal, Apple Pay, Klarna), or verification of receipt of payment, before we ship products to consumers or business purchasers. We generally receive payments from our customers before our payments to our suppliers are due. We do not recognize assets associated with costs to obtain or fulfill a contract with a customer.

Shipping and handling is considered a fulfillment activity, as it takes place prior to the customer obtaining control of the merchandise, and fees charged to customers are included in net revenue upon completion of our performance obligation. We present revenue net of sales taxes, discounts, and expected refunds.

Our merchandise sales contracts include terms that could cause variability in the transaction price for items such as discounts, credits, or sales returns. Accordingly, the transaction price for product sales includes estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not occur. At the time of sale, we estimate a sales return liability for the variable consideration based on historical experience, which is recorded within Accrued liabilities in the consolidated balance sheet. We record an allowance for returns based on current period revenues and historical returns experience. We analyze actual historical returns, current economic trends and changes in order volume and acceptance of our products when evaluating the adequacy of the sales returns allowance in any accounting period.

We evaluate the criteria outlined in ASC 606-10-55, Principal versus Agent Considerations, in determining whether it is appropriate to record the gross amount of merchandise sales and related costs or the net amount earned as commissions. When we are the principal in a transaction and control the specific good or service before it is transferred to the customer, revenue is recorded gross; otherwise, revenue is recorded on a net basis. Through contractual terms with our partners, we have the ability to control the promised goods or services and as a result record the majority of our revenue on a gross basis.

Loyalty program

We have a customer membership program called Beyond+ for which we sell annual memberships. For Beyond+ memberships, we record membership fees as unearned revenue and we recognize revenue ratably over the membership period.

Members earn dollars for qualifying purchases made on our Bed Bath & Beyond website. As such, the initial transaction price giving rise to the reward dollar is allocated to each separate performance obligation based upon its relative standalone selling price. In determining the stand-alone selling price, we incorporate assumptions about the redemption rates of loyalty points. We recognize revenue for loyalty program reward dollars when customers redeem such rewards as part of a purchase on our Bed Bath & Beyond website.

We record the standalone value of reward dollars earned in unearned revenue at the time the reward dollars are earned. Loyalty program reward dollars expire 90 days after the customer's membership expires. We recognize estimated reward dollar breakage, to which we expect to be entitled, over the expected redemption period in proportion to actual redemptions by customers.

We also drive customer loyalty and trip frequency through the Welcome Rewards loyalty program, which provides customers with exclusive benefits and offers across the Bed Bath & Beyond website.

Advertising Revenue

Advertising revenues are derived primarily from sponsored links and display advertisements that are placed on our Website, distributed via email, or sent out as direct mailers. Advertising revenue is recognized in revenue when the advertising services are rendered. Advertising revenues were less than 3% of total net revenues for all periods presented.
Unearned Revenue

When the timing of our provision of goods or services is different from the timing of the payments made by our customers, we recognize a contract liability (customer payment precedes performance).

Customer orders are recorded as unearned revenue when payment is received prior to delivery of products or services ordered. We record amounts received for Beyond+ membership fees as unearned revenue and we recognize it ratably over the membership period. We record loyalty program reward dollars earned from purchases as unearned revenue at the time they are earned based upon the relative standalone selling price of the loyalty program reward dollar and we recognize it as revenue in proportion to the estimated pattern of rights exercised by the customer. If reward dollars are not redeemed, we recognize revenue upon expiration. In addition, we sell gift cards and record related unearned revenue at the time of the sale. We sell gift cards without expiration dates and we recognize revenue from a gift card upon redemption of the gift card. The unredeemed portion of our gift cards are recognized in revenue over the expected redemption period based upon the estimated pattern of rights exercised by the customer, if the gift cards are not subject to escheat laws.

Sales returns allowance
 
Revenue is recorded net of estimated returns. We record an allowance for returns based on current period revenues and historical returns experience. We analyze actual historical returns, current economic trends and changes in order volume and acceptance of our products when evaluating the adequacy of the sales returns allowance in any accounting period.
Cost of goods sold
Cost of goods sold
 
Our cost of goods sold includes product costs, warehousing costs, outbound shipping costs, and handling and fulfillment costs, and is recorded in the same period in which related revenues have been recorded.
Advertising expense
Advertising expense
 
We expense the costs of producing advertisements the first time the advertising takes place and expense the cost of communicating advertising in the period during which the advertising space or airtime is used. Internet advertising expenses are recognized as incurred based on the terms of the individual agreements, which are generally: 1) a commission for traffic driven to our Website that generates a sale or 2) a referral fee based on the number of clicks on keywords or links to our Website generated during a given period. Advertising expense is included in Sales and marketing expenses in our consolidated statements of operations. Prepaid advertising is included in Prepaids and other current assets in our consolidated balance sheets.
Stock-based compensation
Stock-based compensation
 
We measure compensation expense for our outstanding unvested restricted stock awards at fair value on the date of grant and recognize compensation expense over the service period for awards at the greater of a straight-line basis or on an accelerated schedule when vesting of the share-based awards exceeds a straight-line basis. When an award is forfeited prior to the vesting date, we recognize an adjustment for the previously recognized expense in the period of the forfeiture. See Note 18—Stock-Based Awards.

We use the Black-Scholes option pricing model to determine the fair value of our employee stock purchase plan shares. The determination of the fair value of stock-based payment awards on the date of grant using an option pricing model is affected by our stock price and assumptions regarding a number of complex and subjective variables. These variables include our expected stock price volatility over the expected term of the awards, actual and projected employee stock option exercise behaviors, a risk-free interest rate and any expected dividends.

We use the Monte-Carlo valuation model to determine the fair value of the portion of our performance shares and performance share options with market conditions. The determination of the fair value of stock-based payment awards on the date of grant using the Monte-Carlo valuation model is affected by our stock price and assumptions regarding a number of complex and subjective variables. These variables include our expected stock price volatility, a risk-free interest rate, the probability of reaching the stock price performance targets, and a 20-trading-day average stock price. The portion of our performance shares with performance conditions are measured at fair value on the date of grant and the probability of the awards meeting the performance condition is not included in the grant date fair value, but is assessed quarterly for expense recognition. Compensation expense for these awards are recognized using a graded vesting schedule over the requisite service
period. To the extent that a market-based vesting award is forfeited following completion of the requisite service period, compensation expense for accounting purposes is not reversed.
Loss contingencies
Loss contingencies
 
In the normal course of business, we are involved in legal proceedings and other potential loss contingencies. We accrue a liability for such matters when it is probable that a loss has been incurred and the amount, or range of amounts, can be reasonably estimated. When only a range of probable loss can be estimated, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. We expense legal fees as incurred (See Note 15—Commitments and Contingencies).
Income taxes
Income taxes
 
Income taxes are accounted for under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.
We recognize deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In evaluating our ability to recover our deferred tax assets within the jurisdiction from which they arise, we consider all available positive and negative evidence, including projected future taxable income, scheduled reversals of our deferred tax liabilities, tax planning strategies, and results of recent operations. Our projections of future taxable income are subject to changes in how we do business, economic outlook, political climate, and other conditions such as supply chain challenges, inflation, rising interest rates, geopolitical events, and other macroeconomic conditions, and judgment is required in determining our ability to use our deferred tax assets.
We record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. We recognize interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying consolidated income statements. Accrued interest and penalties are included within the related tax liability line in our consolidated balance sheets.
Net income (loss) per share
Net loss per share

Basic net loss per common share is computed by dividing net loss attributable to common shares by the weighted average number of common shares outstanding during the period.
Diluted net loss per share is computed by dividing net loss attributable to common shares by the weighted average number of common and potential common shares outstanding during the period. Potential common shares, comprising incremental common shares issuable from the employee stock purchase plan and restricted stock awards are included in the calculation of diluted net loss per common share to the extent such shares are dilutive.
New accounting pronouncements
Recently adopted accounting standards

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments' significant expenses and other segment items on an interim and annual basis. For public entities, ASU 2023-07 is required to be adopted for annual periods beginning after December 15, 2023 and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted the provisions of this ASU as of January 1, 2024, with respect to the annual disclosures beginning with the year ended December 31, 2024 and interim disclosures beginning with the three months ended March 31, 2025, including the presentation of the comparable prior periods. The adoption of this ASU resulted in additional segment reporting disclosures in the Company's consolidated financial statements.
Recently issued accounting standards

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities to disclose disaggregated information about a reporting entity's effective tax rate reconciliation as well as additional information on income taxes paid. For public entities, ASU 2023-09 is required to be adopted for annual periods beginning after December 15, 2024, with early adoption permitted. This ASU will result in us including the additional required disclosures when adopted and does not otherwise have a material impact on the Company's consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires public entities to disclose disaggregated information about certain income statement line items in the notes to the financial statements. For public entities, ASU 2024-03 is required to be adopted for annual periods beginning after December 15, 2026 and for interim periods beginning after December 15, 2027, with early adoption permitted. This ASU will result in us including the additional required disclosures when adopted and does not otherwise have a material impact on the Company's consolidated financial statements.
v3.25.0.1
ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments
The change in presentation to the Company's consolidated statements of operations were as follows (in thousands):

Year ended December 31, 2023Year ended December 31, 2022
Previously reportedEffect of changeAs adjustedPreviously reportedEffect of changeAs adjusted
Cost of goods sold$1,247,116 $(52,023)$1,195,093 $1,485,990 $(64,269)$1,421,721 
Gross profit314,006 52,023 366,029 443,344 64,269 507,613 
Customer service and merchant fees— 52,023 52,023 — 64,269 64,269 
Schedule of supplemental cash flow information
The following table shows supplemental cash flow information (in thousands):
Year Ended December 31,
202420232022
Supplemental disclosures of cash flow information:  
Cash paid during the period:  
Interest paid, net of amounts capitalized$1,489 $1,598 $1,777 
Income taxes (refunded) paid, net(132)556 2,562 
Non-cash investing and financing activities:  
Purchases of property and equipment included in accounts payable and accrued liabilities$4 $211 $2,527 
Schedule of estimated useful lives of the fixed assets Property and equipment are depreciated using the straight-line method over the estimated useful lives of the related assets as follows:
 Life
(years)
Building40
Land improvements20
Building machinery and equipment
15-20
Furniture and equipment
5-7
Computer hardware
3-4
Computer software, including internal-use software and website development
2-4
Schedule of valuation techniques and unobservable inputs
The following table summarizes the valuation techniques and significant unobservable inputs used in the fair value measurement of our Level 3 equity securities:
InvestmentFair ValueValuation TechniqueUnobservable InputsInputs
tZERO$17,720 Blended market approach - transaction backsolve adjusted for enterprise value changes in guideline public companies, with an option pricing model method and guideline public company methodTerm to liquidity4.0 years
Volatility110%
Percentage change in enterprise value for guideline public companies(82.4)%
SpeedRoute3,920 Market approach - latest transactionsN/AN/A
Total$21,640 
v3.25.0.1
FAIR VALUE MEASUREMENT (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of fair value of financial instruments using levels of inputs
The following tables summarize our assets and liabilities measured at fair value on a recurring basis using the following levels of inputs as of December 31, 2024 and 2023, as indicated (in thousands): 
 
Fair Value Measurements at December 31, 2024
 TotalLevel 1Level 2Level 3
Assets:    
Cash equivalents—Money market mutual funds$21,799 $21,799 $— $— 
Equity securities, at fair value21,640 — — 21,640 
Available-for-sale debt securities (1)10,985 — — 10,985 
Debt securities, at fair value (1)14,814 — — 14,814 
Total assets$69,238 $21,799 $— $47,439 
 
 
Fair Value Measurements at December 31, 2023
 TotalLevel 1Level 2Level 3
Assets:    
Cash equivalents—Money market mutual funds$246,425 $246,425 $— $— 
Equity securities, at fair value41,046 — — 41,046 
Available-for-sale debt securities (1)10,484 — — 10,484 
Trading securities held in a "rabbi trust" (1)496 496 — — 
Total assets$298,451 $246,921 $— $51,530 
Liabilities:    
Deferred compensation accrual "rabbi trust" (2)$513 $513 $— $— 
Total liabilities$513 $513 $— $— 
 ___________________________________________
(1)    Included in Prepaids and other current assets and Other long-term assets, net in the consolidated balance sheets.
(2)    Included in Accrued liabilities and Other long-term liabilities in the consolidated balance sheets.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following table provides activity for our Level 3 investments during the periods presented (in thousands):
Amount
Level 3 investments at December 31, 2022
$82,787 
Increase due to purchases of Level 3 investments10,000 
Decrease in fair value of Level 3 investments(41,741)
Accrued interest on Level 3 investments484 
Level 3 investments at December 31, 2023
51,530 
Increase due to purchases of Level 3 investments17,000 
Decrease in fair value of Level 3 investments(21,836)
Accrued interest on Level 3 investments745 
Level 3 investments at December 31, 2024
$47,439 
v3.25.0.1
ACCOUNTS RECEIVABLE, NET (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of accounts receivable
Accounts receivable, net consist of the following (in thousands):
 December 31,
 20242023
Credit card receivables, trade$9,614 $12,081 
Accounts receivable, trade5,282 4,084 
Other receivables3,187 4,553 
18,083 20,718 
Less: allowance for credit losses(2,236)(1,298)
Total accounts receivable, net$15,847 $19,420 
v3.25.0.1
PREPAIDS AND OTHER CURRENT ASSETS (Tables)
 12 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of prepaid and other assets
Prepaids and other current assets consist of the following (in thousands):
 December 31,
 20242023
Prepaid maintenance$8,924 $8,282 
Prepaid other3,221 4,206 
Other current assets1,876 2,376 
Total prepaids and other current assets$14,021 $14,864 
v3.25.0.1
PROPERTY AND EQUIPMENT, NET (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of fixed assets
Property and equipment, net (excluding assets held for sale) consist of the following (in thousands):
 December 31,
 20242023
Computer hardware and software, including internal-use software and website development$202,005 $249,208 
Furniture and equipment4,098 10,919 
Leasehold improvements1,466 1,795 
207,569 261,922 
Less: accumulated depreciation(184,025)(234,345)
Total property and equipment, net$23,544 $27,577 
Schedule of Capitalized Computer Software
Capitalized costs associated with internal-use software and website development, both developed internally and acquired externally, and depreciation of costs for the same periods associated with internal-use software and website development consist of the following (in thousands):
Year ended December 31,
202420232022
Capitalized internal-use software and website development$12,517 $11,296 $7,915 
Depreciation of internal-use software and website development11,354 7,758 6,571 
Schedule of depreciation and amortization expense which is classified within the corresponding operating expense categories on the consolidated statements of income
Depreciation expense is classified within the corresponding operating expense categories in the consolidated statements of operations as follows (in thousands): 
Year ended December 31,
 202420232022
Cost of goods sold$396 $711 $682 
Technology17,150 14,414 12,233 
General and administrative464 3,751 3,742 
Total depreciation$18,010 $18,876 $16,657 
v3.25.0.1
INTANGIBLE ASSETS, NET (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Indefinite-Lived Intangible Assets
Intangible assets, net consist of the following (in thousands):
December 31,
 20242023
Intangible assets subject to amortization, gross (1)$6,239 $5,331 
Less: accumulated amortization of intangible assets(3,145)(2,114)
Intangible assets subject to amortization, net3,094 3,217 
Intangible assets not subject to amortization27,152 22,037 
Total intangible assets, net$30,246 $25,254 
___________________________________________
(1)    At December 31, 2024, the weighted average remaining useful life for intangible assets subject to amortization, gross was 3.4 years.
Schedule of intangible assets
Intangible assets, net consist of the following (in thousands):
December 31,
 20242023
Intangible assets subject to amortization, gross (1)$6,239 $5,331 
Less: accumulated amortization of intangible assets(3,145)(2,114)
Intangible assets subject to amortization, net3,094 3,217 
Intangible assets not subject to amortization27,152 22,037 
Total intangible assets, net$30,246 $25,254 
___________________________________________
(1)    At December 31, 2024, the weighted average remaining useful life for intangible assets subject to amortization, gross was 3.4 years.
v3.25.0.1
EQUITY SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Equity securities
Equity securities consist of the following (in thousands):
December 31,
20242023
Equity securities accounted for under the equity method under ASC 323$56,546 $114,827 
Equity securities accounted for under the equity method under the fair value option21,640 41,046 
Total equity securities$78,186 $155,873 
Equity Security Ownership Interest
The following table includes our equity securities accounted for under the equity method (ASC 323) and related ownership interest as of December 31, 2024:
Ownership
interest
Medici Ventures, L.P.99%
tZERO Group, Inc.28%
SpeedRoute, LLC49%
Equity method investments
The following table summarizes the net loss recognized on equity method securities recorded in Other expense, net in our consolidated statements of operations (in thousands):
Years ended December 31,
202420232022
Net loss recognized on our proportionate share of the net assets of our equity method securities$(58,281)$(98,663)$(25,435)
Decrease in fair value of equity method securities held under fair value option(19,406)(41,741)(38,488)
Equity Method Investments, Summarized Financial Information The table below provides the summarized financial information required by Rule 4-08(g) for those equity method securities in aggregate that have met the significance criteria, presented on a quarterly lag (in thousands):
December 31,
Balance Sheet20242023
Assets$63,546 $98,544 
Liabilities(17,985)(17,166)
Equity$(45,561)$(81,378)

Years ended December 31,
Results of Operations202420232022
Revenues$12,086 $26,404 $31,187 
Pre-tax loss(20,778)(19,895)(37,619)
Net loss(20,777)(20,169)(37,477)
v3.25.0.1
OTHER LONG-TERM ASSETS, NET (Tables)
 12 Months Ended
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of other long-term assets
Other long-term assets, net consist of the following (in thousands):
 December 31,
 20242023
Debt securities carried at fair value$14,814 $— 
Available-for-sale debt securities10,985 10,484 
Prepaid other, long-term portion3,242 1,748 
Other long-term assets412 719 
Total other long-term assets, net$29,453 $12,951 
v3.25.0.1
ACCRUED LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Schedule of accrued liabilities
Accrued liabilities consist of the following (in thousands):
 December 31,
 20242023
Accrued marketing expenses$27,935 $18,830 
Accounts payable accruals12,743 11,079 
Allowance for returns9,526 8,651 
Accrued compensation and other related costs8,345 12,912 
Sales and other taxes payable6,205 7,034 
Accrued freight4,962 8,478 
Other accrued expenses3,898 6,698 
Total accrued liabilities$73,614 $73,682 
v3.25.0.1
LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease, Cost
The components of lease expense were as follows (in thousands):
Years ended December 31,
202420232022
Operating lease cost$3,240 $5,257 $5,975 
Variable lease cost906 1,300 1,489 
Other Lease Information
The following tables provides a summary of other information related to leases (in thousands):
Years ended December 31,
202420232022
Cash payments included in operating cash flows from lease arrangements$3,253 $5,500 $6,237 
Right-of-use assets obtained in exchange for new operating lease liabilities7,170 836 437 
Leases, Additional Financial Information
The following table provides a summary of balance sheet information related to leases:
December 31,
20242023
Weighted-average remaining lease term—operating leases6.65 years1.57 years
Weighted-average discount rate—operating leases6 %7 %
Lessee, Operating Lease, Liability, Maturity
Maturity of lease liabilities under our non-cancellable operating leases as of December 31, 2024, are as follows (in thousands):
Payments due by period 
2025$1,749 
20261,241 
20271,127 
20281,085 
20291,114 
Thereafter3,497 
Total lease payments 9,813 
Less interest2,019 
Present value of lease liabilities$7,794 
v3.25.0.1
OTHER LONG_TERM LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]  
Schedule of Other Noncurrent Liabilities
Other long-term liabilities consist of the following (in thousands):
 December 31,
 20242023
Unearned revenue, long-term portion$4,583 $5,583 
Income taxes payable, long-term portion3,675 3,684 
Other long-term liabilities(349)(160)
Total other long-term liabilities$7,909 $9,107 
v3.25.0.1
STOCK-BASED AWARDS (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Expensed and Capitalized, Amount
Stock-based compensation expense is classified within the corresponding operating expense categories on our consolidated statements of operations as follows (in thousands):
Years ended December 31,
 202420232022
Cost of goods sold$7 $37 $132 
Sales and marketing594 796 693 
Technology6,263 8,733 7,659 
General and administrative12,391 13,452 9,834 
Total stock-based compensation expense$19,255 $23,018 $18,318 
Summary of restricted stock award activity
The following table summarizes restricted stock unit, PSU, and Performance Share Option award activity (in thousands, except fair value data):
 202420232022
 UnitsWeighted
Average
Grant Date
Fair Value		UnitsWeighted
Average
Grant Date
Fair Value		UnitsWeighted
Average
Grant Date
Fair Value
Outstanding—beginning of year984 $29.60 781 $50.17 663 $56.37 
Granted at fair value4,068 10.68 1,101 20.92 618 42.75 
Vested(441)35.33 (550)40.27 (295)43.32 
Forfeited(1,047)18.89 (348)31.43 (205)57.77 
Outstanding—end of year3,564 $20.98 984 $29.60 781 $50.17 
Schedule of Valuation Assumptions, Performance Shares
Weighted-average assumptions used in the Monte Carlo valuation model were as follows:

 December 31, 2024
Expected volatility72.27 %
Risk-free interest rate4.33 %
Expected term2.99 years
Expected dividend yield0.00 %
Schedule of Valuation Assumptions, Options
Weighted-average assumptions used in the Monte Carlo valuation model were as follows:

 December 31, 2024
Expected volatility75.42 %
Risk-free interest rate4.42 %
Expected term3.75 years
Expected dividend yield0.00 %
v3.25.0.1
REVENUE AND CONTRACT LIABILITY (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of deferred revenue
Unearned revenue consists of the following (in thousands):
 December 31,
 20242023
Loyalty program membership fees and reward points$13,918 $16,449 
In store credits11,462 11,947 
Unearned product revenue on undelivered product11,192 14,821 
Unearned product revenue on unshipped orders3,610 4,098 
Other2,913 2,282 
Total unearned revenue$43,095 $49,597 
Schedule of deferred revenues
The following table provides information about unearned revenue from contracts with customers, including significant changes in unearned revenue balances during the period (in thousands):
Amount
Unearned revenue at December 31, 2022$44,480 
Increase due to deferral of revenue at period end, net35,290 
Decrease due to beginning contract liabilities recognized as revenue(30,173)
Unearned revenue at December 31, 202349,597 
Increase due to deferral of revenue at period end, net32,802 
Decrease due to beginning contract liabilities recognized as revenue(39,304)
Unearned revenue at December 31, 2024$43,095 
Schedule of sales returns allowance
The following table provides additions to and deduction from the sales returns allowance, which is included in our Accrued liabilities balance in our consolidated balance sheets (in thousands):
Amount
Allowance for returns at December 31, 2021$13,923 
Additions to the allowance161,492 
Deductions from the allowance(165,193)
Allowance for returns at December 31, 202210,222 
Additions to the allowance121,939 
Deductions from the allowance(123,510)
Allowance for returns at December 31, 20238,651 
Additions to the allowance105,353 
Deductions from the allowance(104,478)
Allowance for returns at December 31, 2024$9,526 
v3.25.0.1
INTEREST INCOME, NET (Tables)
 12 Months Ended
Dec. 31, 2024
Banking and Thrift, Interest [Abstract]  
Interest Income and Interest Expense Disclosure
Interest income, net consisted of the following (in thousands):
 Years ended December 31,
 202420232022
Interest income$8,968 $13,769 $4,903 
Interest expense(2,203)(1,762)(1,938)
Total interest income, net$6,765 $12,007 $2,965 
v3.25.0.1
OTHER INCOME (EXPENSE), NET (Tables)
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Schedule of other income, net
Other expense, net consisted of the following (in thousands):
 Years ended December 31,
 202420232022
Gain on sale of intangible assets$10,275 $— $— 
Gain on disposal of cryptocurrencies— 6,361 — 
Loss from equity method securities(77,687)(140,404)(63,923)
Write-down of assets held for sale(3,385)(25,875)— 
Loss on debt securities carried at fair value(2,430)— — 
Loss on equity securities— (36)(137)
Other(680)(70)235 
Total other expense, net $(73,907)$(160,024)$(63,825)
v3.25.0.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of income before income taxes
For financial reporting purposes, loss before income taxes includes the following components (in thousands):
 Years ended December 31,
 202420232022
United States loss$(259,395)$(267,058)$(35,272)
Foreign income1,284 936 1,420 
Total loss before income taxes$(258,111)$(266,122)$(33,852)
Schedule of provision (benefit) for income taxes
The provision for income taxes for 2024, 2023 and 2022 consists of the following (in thousands):
 Years ended December 31,
 202420232022
Current:   
Federal$— $(55)$802 
State167 369 1,874 
Foreign233 58 112 
Total current400 372 2,788 
Deferred:   
Federal119 37,160 (1,275)
State118 4,201 (50)
Foreign47 (13)(79)
Total deferred284 41,348 (1,404)
Total provision for income taxes$684 $41,720 $1,384 
Schedule of difference in income tax provision from amount computed by applying U.S. federal income tax rate of 35% to loss before income taxes
The provision for income taxes for 2024, 2023 and 2022 differ from the amounts computed by applying the U.S. federal income tax rate of 21% to loss before income taxes for the following reasons (in thousands):
 Year ended December 31,
 202420232022
U.S. federal income tax benefit at statutory rate$(54,203)$(55,886)$(7,109)
State income tax expense, net of federal benefit(9,444)(12,297)(1,170)
Research and development credit(2,071)(3,245)(2,956)
Global intangible low-tax income360 (736)919 
Other, net391 (1)(67)
Non-deductible executive compensation1,286 762 905 
Stock-based compensation expense 728 2,477 219 
Change in valuation allowance63,637 110,646 10,643 
Total provision for income taxes $684 $41,720 $1,384 
Schedule of components of deferred tax assets and liabilities
The components of our deferred tax assets and liabilities as of December 31, 2024 and 2023 are as follows (in thousands):
 December 31,
 20242023
Deferred tax assets:  
Net operating loss carryforwards$73,925 $29,440 
Basis difference in equity securities53,335 34,729 
Capitalized software development33,064 25,840 
Research and development tax credits26,040 24,202 
Unearned revenue7,324 7,925 
Accrued expenses3,325 4,275 
Reserves and other2,270 2,551 
Operating lease liabilities1,902 861 
Other tax credits and carryforwards261 270 
Property and equipment, net held for sale— 6,484 
Intangible assets— 117 
Gross deferred tax assets201,446 136,694 
Valuation allowance(195,742)(132,105)
Total deferred tax assets5,704 4,589 
Deferred tax liabilities:
Property and equipment, net(3,378)(3,125)
Operating lease right-of-use assets(1,664)(786)
Intangible assets(487)— 
Prepaid expenses(368)(587)
Total deferred tax liabilities(5,897)(4,498)
Total deferred tax assets (liabilities), net$(193)$91 
Schedule of reconciliation of beginning and ending tax contingencies, excluding interest and penalties
A reconciliation of the beginning and ending unrecognized tax benefits, excluding interest and penalties, as of December 31, 2024, 2023 and 2022 is as follows (in thousands):
 Year ended December 31,
 202420232022
Beginning balance$15,020 $13,488 $11,961 
Additions for tax positions related to the current year1,121 1,258 1,083 
Additions (reductions) for tax positions taken in prior years(452)274 444 
Ending balance$15,689 $15,020 $13,488 
v3.25.0.1
NET INCOME (LOSS) PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the computation of basic and diluted net loss per common share for the periods indicated (in thousands, except per share data):
 Year ended December 31,
 202420232022
Numerator:
Net loss$(258,795)$(307,842)$(35,236)
Less: Preferred stock dividends—issued— — 1,697 
Net loss attributable to common stockholders$(258,795)$(307,842)$(36,933)
Denominator:
Weighted average shares of common shares outstanding—basic46,542 45,214 44,323 
Weighted average shares of common shares outstanding—diluted46,542 45,214 44,323 
Net loss per share of common stock:
Basic$(5.56)$(6.81)$(0.83)
Diluted$(5.56)$(6.81)$(0.83)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following shares were excluded from the calculation of diluted shares outstanding as their effect would have been anti-dilutive (in thousands):
 Year ended December 31,
 202420232022
Restricted stock units, PSUs, and Performance Share Option2,647 984 781 
Employee stock purchase plan190 186 116 
v3.25.0.1
ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES - Change In Presentation In The Income Statement (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]      
Cost of goods sold $ 1,104,800 $ 1,195,093 $ 1,421,721
Gross Profit 290,164 366,029 507,613
Customer service and merchant fees $ 53,586 52,023 64,269
Previously reported      
Error Corrections and Prior Period Adjustments Restatement [Line Items]      
Cost of goods sold   1,247,116 1,485,990
Gross Profit   314,006 443,344
Customer service and merchant fees   0 0
Effect of change      
Error Corrections and Prior Period Adjustments Restatement [Line Items]      
Cost of goods sold   (52,023) (64,269)
Gross Profit   52,023 64,269
Customer service and merchant fees   $ 52,023 $ 64,269
v3.25.0.1
ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Supplemental disclosures of cash flow information:      
Interest paid, net of amounts capitalized $ 1,489 $ 1,598 $ 1,777
Income taxes (refunded) paid, net (132) 556 2,562
Non-cash investing and financing activities:      
Purchases of property and equipment included in accounts payable and accrued liabilities $ 4 $ 211 $ 2,527
v3.25.0.1
ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES - Property and Equipment, Net (Details)
Dec. 31, 2024
Building  
Property, Plant and Equipment [Line Items]  
Estimated useful life 40 years
Land improvements  
Property, Plant and Equipment [Line Items]  
Estimated useful life 20 years
Building machinery and equipment | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 15 years
Building machinery and equipment | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 20 years
Furniture and equipment | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 5 years
Furniture and equipment | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 7 years
Computer hardware | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 3 years
Computer hardware | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 4 years
Computer software, including internal-use software and website development | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 2 years
Computer software, including internal-use software and website development | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 4 years
v3.25.0.1
ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES - Additional Information (Details) - USD ($)
 1 Months Ended 12 Months Ended
Oct. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Feb. 25, 2025
Accounting Policies [Line Items]          
Goodwill impairment   $ 0 $ 0 $ 0  
Amount of impairment to carrying amount of regulatory assets   0 0    
Goodwill   6,160,000 6,160,000    
Impairments of long-lived assets   0 $ 0 $ 0  
Notes at fair value   $ 14,800,000      
Product delivery period from date of shipment, minimum   1 day      
Product delivery period from date of shipment, maximum   7 days      
Loyalty program expiration period   90 days      
Advertising revenue as a percentage of total revenue   3.00% 3.00% 3.00%  
GrainChain, Inc. Convertible Promissory Note Due 2025 | Convertible Debt          
Accounting Policies [Line Items]          
Debt instrument, face amount   $ 10,000,000.0      
Interest rate   5.00%      
Long-term debt, gross   $ 11,000,000.0      
Secured Term Loan Credit Agreement | Convertible Debt | Beyond, Inc. | Kirkland's Stores, Inc. ("Kirkland's")          
Accounting Policies [Line Items]          
Maximum borrowing capacity $ 8,500,000        
Conversion price (in dollars per share) $ 1.85        
Threshold percentage of outstanding shares 19.90%        
Expected payments to acquire investments $ 8,000,000        
Secured Term Loan Credit Agreement | Convertible Debt | Beyond, Inc. | Kirkland's Stores, Inc. ("Kirkland's") | Subsequent Event          
Accounting Policies [Line Items]          
Expected payments to acquire investments         $ 8,000,000
Secured Term Loan Credit Agreement | Line of Credit | Beyond, Inc. | Kirkland's Stores, Inc. ("Kirkland's")          
Accounting Policies [Line Items]          
Maximum borrowing capacity $ 17,000,000        
Basis spread on variable rate 2.75%        
Secured Term Loan Credit Agreement | Line of Credit | Beyond, Inc. | Kirkland's Stores, Inc. ("Kirkland's") | Variable Rate Component One          
Accounting Policies [Line Items]          
Interest period 1 month        
Secured Term Loan Credit Agreement | Line of Credit | Beyond, Inc. | Kirkland's Stores, Inc. ("Kirkland's") | Variable Rate Component Two          
Accounting Policies [Line Items]          
Interest period 2 months        
Secured Term Loan Credit Agreement | Line of Credit | Beyond, Inc. | Kirkland's Stores, Inc. ("Kirkland's") | Variable Rate Component Three          
Accounting Policies [Line Items]          
Interest period 6 months        
Secured Term Loan Credit Agreement | Secured Promissory Note | Beyond, Inc. | Kirkland's Stores, Inc. ("Kirkland's")          
Accounting Policies [Line Items]          
Maximum borrowing capacity $ 8,500,000        
Medici Ventures, L.P. and SpeedRoute | Variable Interest Entity, Not Primary Beneficiary          
Accounting Policies [Line Items]          
Maximum exposure to loss   60,500,000      
GrainChain, Inc. | Variable Interest Entity, Not Primary Beneficiary          
Accounting Policies [Line Items]          
Maximum exposure to loss   $ 30,600,000      
Minimum | Medici Ventures, L.P., tZERO, and SpeedRoute, LLC          
Accounting Policies [Line Items]          
Equity method investment, ownership percentage   20.00%      
v3.25.0.1
ACCOUNTING POLICIES AND SUPPLEMENTAL DISCLOSURES - Valuation Technique And Significant Unobservable Inputs Of Equity Securities (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
yr
Dec. 31, 2023
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, at fair value $ 21,640 $ 41,046
Fair Value, Recurring    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, at fair value 21,600  
Level 3    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, at fair value 21,640 $ 41,046
Level 3 | Fair Value, Recurring    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, at fair value 21,640  
tZERO | Level 3 | Fair Value, Recurring | Term to liquidity | Blended market approach - transaction backsolve adjusted for enterprise value changes in guideline public companies, with an option pricing model method and guideline public company method    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, at fair value $ 17,720  
Inputs | yr 4  
tZERO | Level 3 | Fair Value, Recurring | Volatility | Blended market approach - transaction backsolve adjusted for enterprise value changes in guideline public companies, with an option pricing model method and guideline public company method    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Inputs | yr 1.10  
tZERO | Level 3 | Fair Value, Recurring | Percentage change in enterprise value for guideline public companies | Blended market approach - transaction backsolve adjusted for enterprise value changes in guideline public companies, with an option pricing model method and guideline public company method    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Inputs | yr (0.824)  
SpeedRoute | Level 3 | Fair Value, Recurring | Market approach - latest transactions    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities, at fair value $ 3,920  
v3.25.0.1
FAIR VALUE MEASUREMENT - Assets and Liabilities Measured At Fair Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Cash equivalents—Money market funds $ 21,799 $ 246,425
Equity securities, at fair value 21,640 41,046
Available-for-sale debt securities 10,985 10,484
Debt securities, at fair value 14,814  
Trading securities held in a "rabbi trust"   496
Total assets 69,238 298,451
Liabilities:    
Deferred compensation accrual "rabbi trust"   513
Total liabilities   513
Level 1    
Assets:    
Cash equivalents—Money market funds 21,799 246,425
Equity securities, at fair value 0 0
Available-for-sale debt securities 0 0
Debt securities, at fair value 0  
Trading securities held in a "rabbi trust"   496
Total assets 21,799 246,921
Liabilities:    
Deferred compensation accrual "rabbi trust"   513
Total liabilities   513
Level 2    
Assets:    
Cash equivalents—Money market funds 0 0
Equity securities, at fair value 0 0
Available-for-sale debt securities 0 0
Debt securities, at fair value 0  
Trading securities held in a "rabbi trust"   0
Total assets 0 0
Liabilities:    
Deferred compensation accrual "rabbi trust"   0
Total liabilities   0
Level 3    
Assets:    
Cash equivalents—Money market funds 0 0
Equity securities, at fair value 21,640 41,046
Available-for-sale debt securities 10,985 10,484
Debt securities, at fair value 14,814  
Trading securities held in a "rabbi trust"   0
Total assets $ 47,439 51,530
Liabilities:    
Deferred compensation accrual "rabbi trust"   0
Total liabilities   $ 0
v3.25.0.1
FAIR VALUE MEASUREMENT - Level 3 Rollforward (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other expense, net Other expense, net
Level 3    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Level 3 investment, beginning of year $ 51,530 $ 82,787
Increase due to purchases of Level 3 investments 17,000 10,000
Increase (decrease) in fair value of Level 3 investments (21,836) (41,741)
Accrued interest on Level 3 investments 745 484
Level 3 investment, end of year $ 47,439 $ 51,530
v3.25.0.1
ASSET HELD FOR SALE (Details)
ft² in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
ft²
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Mar. 06, 2020
USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Asset held for sale, sale price $ 52,000      
Write-down loss $ 3,385 $ 25,875 $ 0  
Data Center Lease        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Lease, area of property | ft² 5      
Loan Core Capital Funding Corporation | Senior Notes        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Long-term debt, net       $ 34,500
v3.25.0.1
ACCOUNTS RECEIVABLE, NET (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ACCOUNTS RECEIVABLE    
Accounts receivable, gross $ 18,083 $ 20,718
Less: allowance for credit losses (2,236) (1,298)
Accounts receivable, net 15,847 19,420
Credit card receivables    
ACCOUNTS RECEIVABLE    
Accounts receivable, gross 9,614 12,081
Other receivables    
ACCOUNTS RECEIVABLE    
Accounts receivable, gross 3,187 4,553
Accounts receivable, trade    
ACCOUNTS RECEIVABLE    
Accounts receivable, gross $ 5,282 $ 4,084
v3.25.0.1
PREPAIDS AND OTHER CURRENT ASSETS (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Prepaid maintenance $ 8,924 $ 8,282
Prepaid other 3,221 4,206
Other current assets 1,876 2,376
Total prepaids and other current assets $ 14,021 $ 14,864
v3.25.0.1
PROPERTY AND EQUIPMENT, NET (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]      
Fixed assets, gross $ 207,569 $ 261,922  
Less: accumulated depreciation (184,025) (234,345)  
Total property and equipment, net 23,544 27,577  
Depreciation of property and equipment 18,010 18,876 $ 16,657
Cost of goods sold — retail      
Property, Plant and Equipment [Line Items]      
Depreciation of property and equipment 396 711 682
Technology      
Property, Plant and Equipment [Line Items]      
Depreciation of property and equipment 17,150 14,414 12,233
General and administrative      
Property, Plant and Equipment [Line Items]      
Depreciation of property and equipment 464 3,751 3,742
Computer hardware and software, including internal-use software and website development      
Property, Plant and Equipment [Line Items]      
Fixed assets, gross 202,005 249,208  
Furniture and equipment      
Property, Plant and Equipment [Line Items]      
Fixed assets, gross 4,098 10,919  
Leasehold improvements      
Property, Plant and Equipment [Line Items]      
Fixed assets, gross 1,466 1,795  
Software Development      
Property, Plant and Equipment [Line Items]      
Capitalized costs 12,517 11,296 7,915
Amortization of capitalized costs $ 11,354 $ 7,758 $ 6,571
v3.25.0.1
PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]    
Asset retirement obligation $ 58.6 $ 8.6
v3.25.0.1
INTANGIBLE ASSETS, NET - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Apr. 18, 2024
Jun. 28, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]          
Payments to Acquire Intangible Assets, Including Direct Acquisition Related Costs   $ 4,600      
Intangible asset, useful life     3 years 4 months 24 days    
Proceeds from the sale of intangible assets     $ 10,275 $ 0 $ 0
Gain on sale of intangible assets     $ 10,275 $ 0 $ 0
Indo Count Global, Inc.          
Finite-Lived Intangible Assets [Line Items]          
Proceeds from the sale of intangible assets $ 10,300        
Customer Lists          
Finite-Lived Intangible Assets [Line Items]          
Finite-lived Intangible Assets Acquired   $ 676      
Intangible asset, useful life   5 years      
Trade Names          
Finite-Lived Intangible Assets [Line Items]          
Indefinite-Lived Intangible Assets Acquired   $ 3,900      
v3.25.0.1
INTANGIBLE ASSETS, NET - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]    
Total intangible assets, gross $ 6,239 $ 5,331
Less: accumulated amortization of intangible assets (3,145) (2,114)
Total intangible assets, net 3,094 3,217
Intangible assets not subject to amortization 27,152 22,037
Intangible assets, net $ 30,246 $ 25,254
Intangible asset, useful life 3 years 4 months 24 days  
v3.25.0.1
EQUITY SECURITIES - Summary of Equity Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Schedule of Equity Securities [Line Items]    
Equity securities accounted for under the equity method under ASC 323 $ 56,546 $ 114,827
Equity securities accounted for under the equity method under the fair value option 21,640 41,046
Total equity securities 78,186 155,873
Level 3    
Schedule of Equity Securities [Line Items]    
Equity securities accounted for under the equity method under the fair value option 21,640 41,046
Level 1    
Schedule of Equity Securities [Line Items]    
Equity securities accounted for under the equity method under the fair value option $ 0 $ 0
v3.25.0.1
EQUITY SECURITIES - Equity Securities Accounted Under Equity Method (ASC 323) And Ownership Interest (Details) - Beyond, Inc.
 12 Months Ended
Dec. 31, 2024
Medici Ventures, L.P.  
Schedule of Equity Method Investments [Line Items]  
Limited liability company or limited partnership, members or limited partner, ownership interest (in percent) 99.00%
tZERO  
Schedule of Equity Method Investments [Line Items]  
Equity method investment, ownership percentage 28.00%
SpeedRoute  
Schedule of Equity Method Investments [Line Items]  
Equity method investment, ownership percentage 49.00%
v3.25.0.1
EQUITY SECURITIES - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]    
Equity securities, including securities measured at fair value of $21,640 and $41,046 $ 78,186 $ 155,873
Equity securities, at fair value 21,640 41,046
Level 3    
Schedule of Equity Method Investments [Line Items]    
Equity securities, at fair value $ 21,640 $ 41,046
Assets | Investments, Fair Value Concentration Risk [Member] | Level 3    
Schedule of Equity Method Investments [Line Items]    
Concentration risk, percentage (in percent) 31.30%  
Fair Value, Recurring    
Schedule of Equity Method Investments [Line Items]    
Equity securities, at fair value $ 21,600  
Fair Value, Recurring | Level 3    
Schedule of Equity Method Investments [Line Items]    
Equity securities, at fair value $ 21,640  
v3.25.0.1
EQUITY SECURITIES - Net Gain (Loss) Recognized On Equity Method Securities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]      
Net loss recognized on our proportionate share of the net assets of our equity method securities $ (58,281) $ (98,663) $ (25,435)
Decrease in fair value of equity method securities held under fair value option $ (19,406) $ (41,741) $ (38,488)
v3.25.0.1
EQUITY SECURITIES - Summarized Financial Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Balance Sheet      
Assets $ 401,954 $ 635,818  
Liabilities (239,222) (276,686)  
Total stockholders' equity 162,732 359,132 $ 645,826
Results of Operations      
Net loss (258,795) (307,842) (35,236)
Equity Method Investment, Nonconsolidated Investee or Group of Investees      
Balance Sheet      
Assets 63,546 98,544  
Liabilities (17,985) (17,166)  
Total stockholders' equity (45,561) (81,378)  
Results of Operations      
Revenues 12,086 26,404 31,187
Pre-tax loss (20,778) (19,895) (37,619)
Net loss $ (20,777) $ (20,169) $ (37,477)
v3.25.0.1
OTHER LONG-TERM ASSETS, NET (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Debt securities carried at fair value $ 14,814 $ 0
Available-for-sale debt securities 10,985 10,484
Prepaid other, long-term portion 3,242 1,748
Other long-term assets 412 719
Other long-term assets, net $ 29,453 $ 12,951
v3.25.0.1
ACCRUED LIABILITIES (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Payables and Accruals [Abstract]        
Accrued marketing expenses $ 27,935 $ 18,830    
Accounts payable accruals 12,743 11,079    
Allowance for returns 9,526 8,651 $ 10,222 $ 13,923
Accrued compensation and other related costs 8,345 12,912    
Sales and other taxes payable 6,205 7,034    
Accrued freight 4,962 8,478    
Other accrued expenses 3,898 6,698    
Total accrued liabilities $ 73,614 $ 73,682    
v3.25.0.1
BORROWINGS (Details) - USD ($)
 1 Months Ended
Mar. 06, 2020
Oct. 31, 2024
Dec. 31, 2024
Loan Core Capital Funding Corporation | Mezzanine Note      
Debt Instrument [Line Items]      
Long-term debt, net $ 13,000,000.0    
Interest rate 5.002%    
Long-term Debt, Term 10 years    
Principal and interest only payments 46 months    
Loan Core Capital Funding Corporation | Senior Notes      
Debt Instrument [Line Items]      
Long-term debt, net $ 34,500,000    
Interest rate 4.242%    
Long-term Debt, Term 10 years    
Loan Core Capital Funding Corporation | Senior and Mezzanine Blended Rate      
Debt Instrument [Line Items]      
Interest rate 4.45%    
BMO Loan And Security Agreement | Line of Credit | Revolving Credit Facility      
Debt Instrument [Line Items]      
Maximum borrowing capacity   $ 25,000,000  
Debt term   1 year  
Interest period   1 month  
Basis spread on variable rate   1.00%  
Line of credit outstanding     $ 25,000,000.0
Debt issuance costs     $ 129,000
v3.25.0.1
LEASES - Additional Information (Details)
Dec. 31, 2024
ft²
Office Building in Murray, Utah  
Lessee, Lease, Description [Line Items]  
Lease, area of property 36,516
Lease, term of contract 100 months
Minimum  
Lessee, Lease, Description [Line Items]  
Remaining lease term 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Remaining lease term 8 years
v3.25.0.1
LEASES - Components of Lease Cost and Other Operating Lease Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Lease, Cost [Abstract]      
Operating lease cost $ 3,240 $ 5,257 $ 5,975
Variable lease cost 906 1,300 1,489
Cash payments included in operating cash flows from lease arrangements 3,253 5,500 6,237
Right-of-use assets obtained in exchange for new operating lease liabilities $ 7,170 $ 836 $ 437
Weighted-average remaining lease term—operating leases 6 years 7 months 24 days 1 year 6 months 25 days  
Weighted-average discount rate—operating leases 6.00% 7.00%  
v3.25.0.1
LEASES - Operating Lease Maturities and Future Minimum Payments (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]  
2025 $ 1,749
2026 1,241
2027 1,127
2028 1,085
2029 1,114
Thereafter 3,497
Total lease payments 9,813
Less interest 2,019
Present value of lease liabilities $ 7,794
v3.25.0.1
OTHER LONG-TERM LIABILITIES (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Other Liabilities Disclosure [Abstract]    
Deferred Credits and Other Liabilities, Noncurrent $ 4,583 $ 5,583
Accrued Income Taxes, Noncurrent 3,675 3,684
Other Liabilities (349) (160)
Other long-term liabilities $ 7,909 $ 9,107
v3.25.0.1
STOCKHOLDERS' EQUITY - Common Stock (Details)
Dec. 31, 2024
vote
Equity [Abstract]  
Common stock, votes per share (in vote) 1
v3.25.0.1
STOCKHOLDERS' EQUITY - Preferred Stock Conversion (Details)
$ / shares in Units, $ in Millions
Jun. 10, 2022
USD ($)
$ / shares
shares
Equity [Abstract]  
Conversion price of preferred stock | $ / shares $ 0.90
Conversion of preferred stock | shares 4,097,697
Deemed dividend | $ $ 1.7
v3.25.0.1
STOCKHOLDERS' EQUITY - JonesTrading Sales Agreement (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
shares
Equity [Abstract]  
Sale of stock, number of shares issued in transaction | shares 7,002,375,000
Consideration received on transaction $ 43,000
stock issuance costs $ 879
v3.25.0.1
STOCKHOLDERS' EQUITY - Common and Preferred Stock Repurchase Program (Details) - USD ($)
 12 Months Ended
Dec. 21, 2023
Dec. 31, 2024
Dec. 31, 2023
Aug. 17, 2021
Class of Stock [Line Items]        
Stock repurchase program, authorized amount $ 150,000,000     $ 100,000,000.0
Stock repurchase program, period in force (in years)   2 years    
Stock repurchase program, increase to authorized amount $ 50,000,000      
Remaining authorized repurchase amount   $ 69,900,000    
Accumulated deficit        
Class of Stock [Line Items]        
Conversion and elimination of preferred stock     $ 306,000  
Balance at end of year        
Class of Stock [Line Items]        
Repurchase of shares   $ 0 $ 79,800,000  
Average price per share of shares repurchased (in dollars per share)     $ 32.41  
Series A-1        
Class of Stock [Line Items]        
Payments for repurchase of preferred stock and preference stock     $ 306,000  
Average price per share of shares repurchased (in dollars per share)     $ 42.16  
Treasury Stock, Shares, Retired     7,244  
v3.25.0.1
STOCK-BASED AWARDS - Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 19,255 $ 23,018 $ 18,318
Cost of goods sold      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 7 37 132
Sales and marketing      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 594 796 693
Technology      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 6,263 8,733 7,659
General and administrative      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 12,391 $ 13,452 $ 9,834
v3.25.0.1
STOCK-BASED AWARDS - Additional Information (Details)
 12 Months Ended
May 13, 2021
USD ($)
shares
Dec. 31, 2024
USD ($)
day
installment
stockPriceHurdle
$ / shares
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Dec. 31, 2022
USD ($)
shares
Stock-Based Awards        
Granted at fair value (in shares)   4,068,000 1,101,000 618,000
Maximum employee subscription rate 25.00%      
Monetary cap | $ $ 21,250      
Offering period 24 months      
Purchase period 6 months      
Purchase price percentage 85.00%      
Number of shares authorized 3,000,000.0      
Restricted Stock Awards        
Stock-Based Awards        
Granted at fair value (in shares)   212,950    
Grant date fair value | $   $ 6,900,000    
Number of shares available for future grants   2,500,000    
Restricted Stock Awards | Amended and Restated 2005 Equity Incentive Plan        
Stock-Based Awards        
Award vesting period (in years)   3 years    
Restricted Stock Awards | First year | Amended and Restated 2005 Equity Incentive Plan        
Stock-Based Awards        
Annual award vesting percentage   33.30%    
Restricted Stock Awards | Second year | Amended and Restated 2005 Equity Incentive Plan        
Stock-Based Awards        
Annual award vesting percentage   33.30%    
Restricted Stock Awards | Third year | Amended and Restated 2005 Equity Incentive Plan        
Stock-Based Awards        
Annual award vesting percentage   33.40%    
Performance Shares        
Stock-Based Awards        
Award vesting period (in years)   3 years    
Granted at fair value (in shares)   1,512,500    
Number of installments | installment   3    
Number of stock price hurdles | stockPriceHurdle   3    
Share-based compensation expense | $   $ 5,900,000    
Performance Shares | Average per-share closing price exceeds $40.00        
Stock-Based Awards        
Performance percentage   33.00%    
Threshold trading days | day   20    
Stock price trigger | $ / shares   $ 40.00    
Performance Shares | Average per-share closing price exceeds $50.00        
Stock-Based Awards        
Performance percentage   33.00%    
Threshold trading days | day   20    
Stock price trigger | $ / shares   $ 50.00    
Performance Shares | Average per-share closing price exceeds $60.00        
Stock-Based Awards        
Performance percentage   34.00%    
Threshold trading days | day   20    
Stock price trigger | $ / shares   $ 60.00    
Performance Shares | Tranche one        
Stock-Based Awards        
Vesting percentage   25.00%    
Performance Shares | Tranche two        
Stock-Based Awards        
Vesting percentage   75.00%    
Performance Share Options        
Stock-Based Awards        
Award vesting period (in years)   4 years    
Number of installments | installment   3    
Number of stock price hurdles | stockPriceHurdle   3    
Share-based compensation expense | $   $ 2,400,000    
Performance based options granted (in shares)   2,250,000    
Performance Share Options | Tranche one        
Stock-Based Awards        
Threshold trading days | day   20    
Stock price trigger | $ / shares   $ 45.00    
Performance based options granted (in shares)   500,000    
Exercise price (in dollars per share) | $ / shares   $ 45.00    
Performance Share Options | Tranche two        
Stock-Based Awards        
Threshold trading days | day   20    
Stock price trigger | $ / shares   $ 50.00    
Performance based options granted (in shares)   750,000    
Exercise price (in dollars per share) | $ / shares   $ 50.00    
Performance Share Options | Tranche three        
Stock-Based Awards        
Threshold trading days | day   20    
Stock price trigger | $ / shares   $ 60.00    
Performance based options granted (in shares)   1,000,000    
Exercise price (in dollars per share) | $ / shares   $ 60.00    
Restricted Stock Units (RSUs)        
Stock-Based Awards        
Award vesting period (in years)   4 years 3 years  
Vesting percentage   25.00%    
Employee stock purchase plan        
Stock-Based Awards        
Share-based compensation expense | $   $ 1,100,000 $ 1,700,000 $ 2,400,000
Number of shares available for future grants   2,700,000    
Common stock issued for ESPP purchases   119,425 117,687  
Stock purchase plans, average price per share (in dollars per share) | $ / shares   $ 12.23 $ 16.25  
v3.25.0.1
STOCK-BASED AWARDS - Valuation Assumptions (Details)
 12 Months Ended
Dec. 31, 2024
Performance Shares  
Stock-Based Awards  
Expected volatility 72.27%
Risk-free interest rate 4.33%
Expected term 2 years 11 months 26 days
Expected dividend yield 0.00%
Performance Share Options  
Stock-Based Awards  
Expected volatility 75.42%
Risk-free interest rate 4.42%
Expected term 3 years 9 months
Expected dividend yield 0.00%
v3.25.0.1
STOCK-BASED AWARDS - Restricted Stock Activity (Details) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Units      
Outstanding-beginning of year (in shares) 984 781 663
Granted at fair value (in shares) 4,068 1,101 618
Vested (in shares) (441) (550) (295)
Forfeited (in shares) (1,047) (348) (205)
Outstanding-end of period (in shares) 3,564 984 781
Weighted Average Grant Date Fair Value      
Outstanding-beginning of year (in dollars per share) $ 29.60 $ 50.17 $ 56.37
Granted at fair value (in dollars per share) 10.68 20.92 42.75
Vested (in dollars per share) 35.33 40.27 43.32
Forfeited (in dollars per share) 18.89 31.43 57.77
Outstanding-end of period (in dollars per share) $ 20.98 $ 29.60 $ 50.17
v3.25.0.1
EMPLOYEE RETIREMENT PLAN (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Retirement Benefits [Abstract]      
Minimum period of service to qualify to participate in 401(k) defined contribution plan 3 months    
Eligible age to participate in 401(k) defined contribution plan 21 years    
Employer match of first 6% of participant's contributions (as a percent) 100.00%    
Percentage of participant's' gross pay for which the employer contributes a matching contribution 6.00%    
Matching contributions made by the company $ 4,300,000 $ 5,000,000.0 $ 5,700,000
Discretionary contributions $ 0 $ 0 $ 0
v3.25.0.1
REVENUE AND CONTRACT LIABILITY - Unearned Revenue (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Contract with Customer, Liability [Line Items]    
Total unearned revenue $ 43,095 $ 49,597
Loyalty program membership fees and reward points    
Contract with Customer, Liability [Line Items]    
Total unearned revenue 13,918 16,449
In store credits    
Contract with Customer, Liability [Line Items]    
Total unearned revenue 11,462 11,947
Unearned product revenue on undelivered product    
Contract with Customer, Liability [Line Items]    
Total unearned revenue 11,192 14,821
Unearned product revenue on unshipped orders    
Contract with Customer, Liability [Line Items]    
Total unearned revenue 3,610 4,098
Other    
Contract with Customer, Liability [Line Items]    
Total unearned revenue $ 2,913 $ 2,282
v3.25.0.1
REVENUE AND CONTRACT LIABILITY - Deferred Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Unearned revenue, beginning balance $ 49,597 $ 44,480
Increase (Decrease) in Contract with Customer, Liability 32,802 35,290
Contract with Customer, Liability, Revenue Recognized (39,304) (30,173)
Unearned revenue, ending balance $ 43,095 $ 49,597
v3.25.0.1
REVENUE AND CONTRACT LIABILITY - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Unearned revenue $ 43,095 $ 49,597  
Gift card and Club-O rewards breakage 7,200 5,100 $ 4,400
Unearned contract revenue 4,600 5,600  
Club O Reward Points      
Disaggregation of Revenue [Line Items]      
Unearned revenue $ 11,100 $ 12,100  
v3.25.0.1
REVENUE AND CONTRACT LIABILITY - Sales Returns Allowance (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]      
Allowance for returns, beginning of period $ 8,651 $ 10,222 $ 13,923
Additions to the allowance 105,353 121,939 161,492
Deductions from the allowance (104,478) (123,510) (165,193)
Allowance for returns, end of period $ 9,526 $ 8,651 $ 10,222
v3.25.0.1
INTEREST INCOME, NET (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Banking and Thrift, Interest [Abstract]      
Interest income $ 8,968 $ 13,769 $ 4,903
Interest expense (2,203) (1,762) (1,938)
Total interest income, net $ 6,765 $ 12,007 $ 2,965
v3.25.0.1
OTHER EXPENSE, NET (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Income and Expenses [Abstract]      
Gain on sale of intangible assets $ 10,275 $ 0 $ 0
Gain on disposal of cryptocurrencies 0 6,361 0
Loss from equity method securities (77,687) (140,404) (63,923)
Write-down of assets held for sale (3,385) (25,875) 0
Loss on equity securities 0 (36) (137)
Loss on debt securities carried at fair value (2,430) 0 0
Other (680) (70) 235
Other expense, net $ (73,907) $ (160,024) $ (63,825)
v3.25.0.1
INCOME TAXES - Income Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
United States loss $ (259,395) $ (267,058) $ (35,272)
Foreign income 1,284 936 1,420
Loss before income taxes $ (258,111) $ (266,122) $ (33,852)
v3.25.0.1
INCOME TAXES - Provision (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current:      
Federal $ 0 $ (55) $ 802
State 167 369 1,874
Foreign 233 58 112
Total current 400 372 2,788
Deferred:      
Federal 119 37,160 (1,275)
State 118 4,201 (50)
Foreign 47 (13) (79)
Total deferred 284 41,348 (1,404)
Total provision for income taxes $ 684 $ 41,720 $ 1,384
v3.25.0.1
INCOME TAXES - Effective Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
U.S. federal income tax benefit at statutory rate $ (54,203) $ (55,886) $ (7,109)
State income tax expense, net of federal benefit (9,444) (12,297) (1,170)
Research and development credit (2,071) (3,245) (2,956)
Global intangible low-tax income, including true-up 360    
Global intangible low-tax income   (736) 919
Other, net 391 (1) (67)
Non-deductible executive compensation 1,286 762 905
Stock-based compensation expense 728 2,477 219
Change in valuation allowance 63,637 110,646 10,643
Total provision for income taxes $ 684 $ 41,720 $ 1,384
v3.25.0.1
INCOME TAXES - Deferred Tax Assets And Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Basis difference in equity securities $ 53,335 $ 34,729
Net operating loss carryforwards 73,925 29,440
Capitalized software development 33,064 25,840
Research and development tax credits 26,040 24,202
Unearned revenue 7,324 7,925
Property and equipment, net held for sale 0 6,484
Accrued expenses 3,325 4,275
Reserves and other 2,270 2,551
Operating lease liabilities 1,902 861
Other tax credits and carryforwards 261 270
Intangible assets 0 117
Gross deferred tax assets 201,446 136,694
Valuation allowance (195,742) (132,105)
Total deferred tax assets 5,704 4,589
Deferred tax liabilities:    
Property and equipment, net (3,378) (3,125)
Operating lease right-of-use assets (1,664) (786)
Intangible assets (487) 0
Prepaid expenses (368) (587)
Total deferred tax liabilities (5,897) (4,498)
Total deferred tax liabilities $ (193)  
Total deferred tax assets (liabilities), net   $ 91
v3.25.0.1
INCOME TAXES - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Contingency [Line Items]      
Increase (decrease) in valuation allowance $ 63.6    
Unrecognized tax benefits that would impact effective tax rate 15.7 $ 15.0 $ 13.5
Interest and penalties accrued on tax contingencies 1.4 $ 1.3  
Federal      
Income Tax Contingency [Line Items]      
Operating loss carryforwards, not subject to expiration 283.2    
Federal | Research Tax Credit Carryforward      
Income Tax Contingency [Line Items]      
Tax credit carryforward 30.9    
State and local jurisdictions      
Income Tax Contingency [Line Items]      
Operating loss carryforwards, not subject to expiration 115.2    
Operating loss carryforwards, subject to expiration 169.0    
State and local jurisdictions | Research Tax Credit Carryforward      
Income Tax Contingency [Line Items]      
Tax credit carryforward $ 9.9    
v3.25.0.1
INCOME TAXES - Reconciliation of Tax Contingencies (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reconciliation of beginning and ending tax contingencies, excluding interest and penalties      
Beginning balance $ 15,020 $ 13,488 $ 11,961
Additions for tax positions related to the current year 1,121 1,258 1,083
Additions (reductions) for tax positions taken in prior years (452) 274 444
Ending balance $ 15,689 $ 15,020 $ 13,488
v3.25.0.1
NET INCOME (LOSS) PER SHARE (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Payment Arrangement [Member]      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 2,647 984 781
Employee stock purchase plan      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 190 186 116
v3.25.0.1
NET INCOME (LOSS) PER SHARE - Income & Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent $ (258,795) $ (307,842) $ (35,236)
Less: Preferred stock dividends—issued 0 0 1,697
Net loss attributable to common stockholders $ (258,795) $ (307,842) $ (36,933)
Weighted average shares of common shares outstanding—basic (in dollars per share) 46,542 45,214 44,323
Weighted average shares of common shares outstanding—diluted (in dollars per share) 46,542 45,214 44,323
Basic (in dollars per share) $ (5.56) $ (6.81) $ (0.83)
Diluted (in dollars per share) $ (5.56) $ (6.81) $ (0.83)
v3.25.0.1
BUSINESS SEGMENTS (Details)
 12 Months Ended
Dec. 31, 2024
segment
Segment Reporting [Abstract]  
Number of reportable segments 1
v3.25.0.1
SUBSEQUENT EVENTS (Details) - USD ($)
$ in Thousands
Feb. 21, 2025
Feb. 05, 2025
Jan. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Subsequent Event [Line Items]          
Equity method investments       $ 56,546 $ 114,827
Subsequent Event | Kirkland's Stores, Inc. ("Kirkland's")          
Subsequent Event [Line Items]          
Equity method investments   $ 8,000      
Equity method investment, ownership percentage   40.00%      
Subsequent Event | Buy Buy Baby Assets          
Subsequent Event [Line Items]          
Price of acquisition, expected     $ 5,000    
Asset acquisition, consideration transferred $ 5,000        
Convertible Debt | Subsequent Event | Beyond, Inc. | Kirkland's Stores, Inc. ("Kirkland's")          
Subsequent Event [Line Items]          
Debt conversion, converted amount   $ 8,500      
v3.25.0.1
Schedule II Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Deferred tax valuation allowance      
Valuation and Qualifying Accounts      
Balance at Beginning of Year $ 132,105 $ 21,459 $ 11,384
Charged to Expense 63,637 110,646 10,075
Deductions 0 0 0
Balance at End of Year 195,742 132,105 21,459
Allowance for sales returns      
Valuation and Qualifying Accounts      
Balance at Beginning of Year 8,651 10,222 13,923
Charged to Expense 105,353 121,939 161,492
Deductions 104,478 123,510 165,193
Balance at End of Year 9,526 8,651 10,222
Allowance for doubtful accounts      
Valuation and Qualifying Accounts      
Balance at Beginning of Year 1,298 3,223 2,429
Charged to Expense 938 (1,925) 794
Deductions 0 0 0
Balance at End of Year $ 2,236 $ 1,298 $ 3,223