0001130713-24-000057 | 10-Q | XBRL Viewer

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DESCRIPTION OF BUSINESS	6 Months Ended
DESCRIPTION OF BUSINESS	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS Beyond, Inc. is an ecommerce expert with a singular focus: connecting consumers with products and services that unlock their families' and homes' potential. As the owner of Bed Bath & Beyond, Overstock, Zulily, and other related brands and associated intellectual property, our suite of online shopping brands features millions of products for various life stages that millions of customers visit each month. As used herein, "Beyond," "the Company," "we," "our" and similar terms include Beyond, Inc. and its controlled subsidiaries, unless the context indicates otherwise.

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	10. 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 websites. In connection with such litigation, we have been in the past and we may be in the future subject to significant damages. 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. 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. As previously disclosed, in October 2019, we received a subpoena from the SEC requiring us to produce documents and other information related to the Series A-1 Preferred stock dividend we announced to stockholders in June 2019 and requesting copies of trading plans ("10b5-1 plans") intended to comply with Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act") entered into by certain officers and directors. In December 2019, we received a subpoena from the SEC requesting our insider trading policies and certain employment and consulting agreements. We also received requests from the SEC for our communications with our former Chief Executive Officer and Director, Patrick Byrne, and the matters referenced in the December 2019 subpoenas. In January 2021, we received a subpoena from the SEC requesting information regarding our retail guidance in 2019 and certain communications with current and former executives, board members, and investors. We have continued to receive requests from the SEC related to the matters referenced in the December 2019 subpoenas. We continue to cooperate with the SEC on these matters. On September 27, 2019, a purported securities class action lawsuit was filed against us and our former Chief Executive Officer and former Chief Financial Officer 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 Exchange Act. On October 8, 2019, October 17, 2019, October 31, 2019, and November 20, 2019, four similar lawsuits were filed in the same court also naming us and the above referenced former executives as defendants, bringing similar claims under the Exchange Act, and seeking similar relief. These cases were consolidated into a single lawsuit in December 2019. The Court appointed The Mangrove Partners Master Fund Ltd. as lead plaintiff in January 2020. In March 2020, an amended consolidated complaint was filed against us, our former Overstock President (now current President of Beyond, Inc.), our former Chief Executive Officer, and our former Chief Financial Officer. We filed a motion to dismiss and, on September 28, 2020, the court granted our motion and entered judgment in our favor. The plaintiffs filed a motion to amend their complaint on October 23, 2020. The United States District Court of Utah granted the plaintiffs' motion to amend their complaint on January 6, 2021. The plaintiffs filed their amended complaint on January 11, 2021. We filed a motion to dismiss plaintiffs' amended complaint, and on September 20, 2021, the court granted our motion and entered judgment in our favor. On October 18, 2021, the plaintiffs filed a Notice of Appeal, appealing the ruling of the district court to the United States Court of Appeals for the Tenth Circuit. We are awaiting a ruling from the Tenth Circuit that heard oral argument on the appeal on February 9, 2023. No estimates of the possible losses or range of losses can be made at this time. We intend to continue to vigorously defend this consolidated action. On November 22, 2019, a shareholder 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. The case remains stayed pending the outcome of the plaintiffs' appeal to the Tenth Circuit in the securities class action mentioned above. No estimates of the possible losses or range of losses can be made at this time. We intend to vigorously defend these actions. We establish liabilities when a particular contingency is probable and estimable which are included in Accrued liabilities on our consolidated balance sheets. At June 30, 2024 and December 31, 2023, our established liabilities were not material.

STOCK-BASED AWARDS - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 5,259	$ 6,270	$ 10,035	$ 12,065
Cost of goods sold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	3	11	3	30
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	273	238	495	428
Technology
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	2,028	2,609	4,008	5,031
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 2,955	$ 3,412	$ 5,529	$ 6,576

PROPERTY AND EQUIPMENT, NET - Depreciation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Total depreciation	$ 4,131	$ 4,513	$ 7,854	$ 10,493
Cost of goods sold
Property, Plant and Equipment [Line Items]
Total depreciation	98	206	196	440
Technology
Property, Plant and Equipment [Line Items]
Total depreciation	3,930	3,286	7,447	7,990
General and administrative
Property, Plant and Equipment [Line Items]
Total depreciation	$ 103	$ 1,021	$ 211	$ 2,063

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 186,174	$ 302,605
Restricted cash	168	144
Accounts receivable, net of allowance for credit losses of $1,414 and $1,298	18,694	19,420
Inventories	12,099	13,040
Prepaids and other current assets	15,071	14,864
Total current assets	232,206	350,073
Property and equipment, net	27,864	27,577
Intangible assets, net	30,918	25,254
Goodwill	6,160	6,160
Equity securities, including securities measured at fair value of $32,328 and $41,046	129,667	155,873
Operating lease right-of-use assets	2,950	3,468
Other long-term assets, net	12,551	12,951
Property and equipment, net held for sale	54,466	54,462
Total assets	496,782	635,818
Current liabilities:
Accounts payable	91,210	106,070
Accrued liabilities	61,306	73,682
Unearned revenue	47,806	49,597
Operating lease liabilities, current	2,723	2,814
Current debt, net held for sale	0	232
Total current liabilities	203,045	232,395
Operating lease liabilities, non-current	425	940
Other long-term liabilities	8,738	9,107
Long-term debt, net held for sale	34,220	34,244
Total liabilities	246,428	276,686
Commitments and contingencies (Note 10)
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	5
Additional paid-in capital	1,018,619	1,007,649
Accumulated deficit	(598,177)	(481,671)
Accumulated other comprehensive loss	(498)	(506)
Treasury stock at cost - 6,480 and 6,356	(169,595)	(166,345)
Total stockholders' equity	250,354	359,132
Total liabilities and stockholders' equity	$ 496,782	$ 635,818

REVENUE AND CONTRACT LIABILITY - Deferred Revenue (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Beginning balance	$ 49,597	$ 44,480
Increase due to deferral of revenue at period end, net	30,719	35,290
Decrease due to beginning contract liabilities recognized as revenue	(32,510)	(30,173)
Ending balance	$ 47,806	$ 49,597

STOCKHOLDERS' EQUITY	6 Months Ended
STOCKHOLDERS' EQUITY	Jun. 30, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	12. 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. 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 may 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 shares under the Sales Agreement, but we may do so from time to time. For the three and six months ended June 30, 2024, we did not sell any shares of our common stock pursuant to the Sales Agreement. As of June 30, 2024, we had $200.0 million available under our "at the market" sales program. Stock Repurchase Program During the three and six months ended June 30, 2024 and 2023, we did not repurchase any shares of our common stock under our stock repurchase program. As of June 30, 2024, we had $69.9 million available for future share repurchases under our current repurchase authorization through December 31, 2025.

- Definition

The entire disclosure for equity.

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

We have prepared the accompanying unaudited consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("GAAP") have been omitted in accordance with the rules and regulations of the SEC. These financial statements should be read in conjunction with our audited annual consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2023. There have been no significant changes to our significant accounting policies disclosed in Note 2—Accounting Policies and Supplemental Disclosures, included in Part II, Item 8, Financial Statements and Supplementary Data, of our Annual Report on Form 10-K for the year ended December 31, 2023, except as disclosed below.

The accompanying unaudited consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries and reflect all adjustments, consisting only of normal recurring adjustments, which are, in our opinion, necessary for a fair presentation of results for the interim periods presented. All intercompany account balances and transactions have been eliminated in consolidation. The results of operations for the three and six months ended June 30, 2024, are not necessarily indicative of the results to be expected for any future period or the full fiscal year, due to seasonality and other factors.

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 unaudited 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 unaudited consolidated statements of operations were as follows (in thousands):


	Three months ended June 30, 2023						Six months ended June 30, 2023
	Previously reported		Effect of change		As adjusted		Previously reported		Effect of change		As adjusted
Cost of goods sold	$	327,839	$	(13,197)	$	314,642	$	619,266	$	(25,168)	$	594,098
Gross profit	94,372		13,197		107,569		184,085		25,168		209,253
Customer service and merchant fees	—		13,197		13,197		—		25,168		25,168

Recently issued 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 is currently evaluating the impact of the adoption of this ASU on our consolidated financial statements and related disclosures. This ASU will likely result in us including the additional required disclosures when adopted.

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. The Company is currently evaluating the impact of the adoption of this ASU on our consolidated financial statements and related disclosures. This ASU will likely result in us including the additional required disclosures when adopted.

REVENUE AND CONTRACT LIABILITY

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUE AND CONTRACT LIABILITY

14. REVENUE AND CONTRACT LIABILITY

Unearned Revenue

The following table provides information about unearned revenue from contracts with customers, including significant changes in unearned revenue balances during the periods presented (in thousands):


	Amount
Unearned revenue at December 31, 2022	$	44,480
Increase due to deferral of revenue at period end, net	35,290
Decrease due to beginning contract liabilities recognized as revenue	(30,173)
Unearned revenue at December 31, 2023	49,597
Increase due to deferral of revenue at period end, net	30,719
Decrease due to beginning contract liabilities recognized as revenue	(32,510)
Unearned revenue at June 30, 2024	$	47,806

Our total unearned revenue related to outstanding loyalty program rewards was $13.6 million and $12.1 million at June 30, 2024 and December 31, 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 $2.1 million and $1.0 million for the three months ended June 30, 2024 and 2023, respectively, and $3.4 million and $1.9 million for the six months ended June 30, 2024 and 2023, respectively. The timing of revenue recognition of these reward dollars is driven by

actual customer activities, such as redemptions and expirations. At June 30, 2024 and December 31, 2023, we had an additional $5.1 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 deductions 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, 2022	$	10,222
Additions to the allowance	121,939
Deductions from the allowance	(123,510)
Allowance for returns at December 31, 2023	8,651
Additions to the allowance	58,771
Deductions from the allowance	(58,310)
Allowance for returns at June 30, 2024	$	9,112

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Preferred stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive loss	Treasury stock
Beginning balance (in shares) at Dec. 31, 2022		51,102					6,151
Increase (Decrease) in Stockholders' Equity
Common stock issued upon vesting of restricted stock		285
Common stock issued for ESPP purchases		68
Tax withholding upon vesting of employee stock awards							102
Ending balance (in shares) at Jun. 30, 2023		51,455					6,253
Ending balance at Jun. 30, 2023		$ 5
Beginning balance at Dec. 31, 2022		$ 5
Beginning balance at Dec. 31, 2022				$ 982,718	$ (173,829)	$ (522)	$ (162,546)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation to employees and directors				12,065
Common stock issued for ESPP purchases				1,121
Net loss	$ (83,800)				(83,800)
Net other comprehensive income	8					8
Tax withholding upon vesting of employee stock awards							2,054
Ending balance at Jun. 30, 2023	573,166			995,904	(257,629)	(514)	$ (164,600)
Beginning balance (in shares) at Mar. 31, 2023		51,438					6,247
Increase (Decrease) in Stockholders' Equity
Common stock issued upon vesting of restricted stock		17
Common stock issued for ESPP purchases		0
Tax withholding upon vesting of employee stock awards							6
Ending balance (in shares) at Jun. 30, 2023		51,455					6,253
Ending balance at Jun. 30, 2023		$ 5
Beginning balance at Mar. 31, 2023				989,634	(184,136)	(518)	$ (164,480)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation to employees and directors				6,270
Common stock issued for ESPP purchases				0
Net loss	(73,493)				(73,493)
Net other comprehensive income	4					4
Tax withholding upon vesting of employee stock awards							120
Ending balance at Jun. 30, 2023	$ 573,166			995,904	(257,629)	(514)	$ (164,600)
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)		45,202
Preferred stock, $0.0001 par value, authorized shares - 5,000, issued and outstanding - none			$ 0
Common stock, shares outstanding (in shares)	45,414
Preferred stock, $0.0001 par value, authorized shares - 5,000, issued and outstanding - none	$ 0
Beginning balance (in shares) at Dec. 31, 2023		51,770					6,356
Increase (Decrease) in Stockholders' Equity
Common stock issued upon vesting of restricted stock		404
Common stock issued for ESPP purchases		56
Tax withholding upon vesting of employee stock awards							124
Ending balance (in shares) at Jun. 30, 2024		52,230					6,480
Ending balance at Jun. 30, 2024		$ 5
Beginning balance at Dec. 31, 2023		$ 5
Beginning balance at Dec. 31, 2023	359,132			1,007,649	(481,671)	(506)	$ (166,345)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation to employees and directors				10,035
Common stock issued for ESPP purchases				935
Net loss	(116,506)				(116,506)
Net other comprehensive income	8					8
Tax withholding upon vesting of employee stock awards							3,250
Ending balance at Jun. 30, 2024	250,354			1,018,619	(598,177)	(498)	$ (169,595)
Beginning balance (in shares) at Mar. 31, 2024		52,210					6,477
Increase (Decrease) in Stockholders' Equity
Common stock issued upon vesting of restricted stock		20
Common stock issued for ESPP purchases		0
Tax withholding upon vesting of employee stock awards							3
Ending balance (in shares) at Jun. 30, 2024		52,230					6,480
Ending balance at Jun. 30, 2024		$ 5
Beginning balance at Mar. 31, 2024				1,013,360	(555,599)	(502)	$ (169,517)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation to employees and directors				5,259
Common stock issued for ESPP purchases				0
Net loss	(42,578)				(42,578)
Net other comprehensive income	4					4
Tax withholding upon vesting of employee stock awards							78
Ending balance at Jun. 30, 2024	$ 250,354			$ 1,018,619	$ (598,177)	$ (498)	$ (169,595)
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)	45,750	45,750
Preferred stock, $0.0001 par value, authorized shares - 5,000, issued and outstanding - none	$ 0		$ 0

LEASES - Operating Lease Maturities and Future Minimum Payments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity
2024 (Remainder)	$ 1,448
2025	1,540
2026	250
2027	83
Total lease payments	3,321
Less interest	173
Present value of lease liabilities	$ 3,148

ASSET HELD FOR SALE	6 Months Ended
ASSET HELD FOR SALE	Jun. 30, 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). Management has selected a broker to actively market and sell its corporate headquarters. The corporate headquarters and related assets and liabilities met the criteria to be classified as held for sale as of June 30, 2024 and December 31, 2023 and are presented separately on our consolidated balance sheets. As of June 30, 2024, the corporate headquarters is being actively marketed to sell and is expected to sell within one year.

STOCK-BASED AWARDS - Restricted stock unit, PSU, and Performance Share Option Award Activity (Details) - Restricted stock units, PSUs, and Performance Share Option shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Units
Outstanding-beginning of year (in shares) \| shares	984
Granted at fair value (in shares) \| shares	3,987
Vested (in shares) \| shares	(404)
Forfeited (in shares) \| shares	(458)
Outstanding-end of period (in shares) \| shares	4,109
Weighted Average Grant Date Fair Value
Outstanding-beginning of year (in dollars per share) \| $ / shares	$ 29.60
Granted at fair value (in dollars per share) \| $ / shares	10.81
Vested (in dollars per share) \| $ / shares	32.91
Forfeited (in dollars per share) \| $ / shares	22.45
Outstanding-end of period (in dollars per share) \| $ / shares	$ 11.84

BORROWINGS (Details) - USD ($) $ in Thousands	Mar. 06, 2020	Jun. 30, 2024
Senior Notes
Debt Instrument [Line Items]
Minimum net work required for compliance		$ 15,000
Minimum liquid assets		1,000
Loan Core Capital Funding Corporation
Debt Instrument [Line Items]
Senior & mezzanine note total outstanding		34,200
Debt issuance costs		$ 281
Loan Core Capital Funding Corporation \| Senior Notes
Debt Instrument [Line Items]
Long-term debt, net	$ 34,500
Annual interest rate	4.242%
Term (in years)	10 years
Loan Core Capital Funding Corporation \| Mezzanine Note
Debt Instrument [Line Items]
Long-term debt, net	$ 13,000
Annual interest rate	5.002%
Term (in years)	10 years
Principal and interest only payments	46 months
Loan Core Capital Funding Corporation \| Senior and Mezzanine Blended Rate
Debt Instrument [Line Items]
Annual interest rate	4.45%

REVENUE AND CONTRACT LIABILITY - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Unearned revenue	$ 47,806		$ 47,806		$ 49,597
Gift card and club o rewards breakage	2,100	$ 1,000	3,400	$ 1,900
Unearned contract revenue	5,100		5,100		5,600
Club O Reward Points
Disaggregation of Revenue [Line Items]
Unearned revenue	$ 13,600		$ 13,600		$ 12,100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 30, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

INTANGIBLE ASSETS, NET

6. 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 $4.9 million which has been allocated to two major asset categories consisting of $4.1 million, for trade names with an indefinite useful life and $716,000 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 the $10.3 million cash proceeds. For the three and six months ended June 30, 2024, we recognized the entire $10.3 million as a gain on the sale which is included in Other income (expense), net in our consolidated statements of operations.

Intangible assets, net consist of the following (in thousands):


	June 30, 2024		December 31, 2023
Intangible assets subject to amortization, gross (1)	$	6,148	$	5,331
Less: accumulated amortization of intangible assets	(2,615)		(2,114)
Intangible assets subject to amortization, net	3,533		3,217
Intangible assets not subject to amortization	27,385		22,037
Total intangible assets, net	$	30,918	$	25,254

___________________________________________

(1) At June 30, 2024, the weighted average remaining useful life for intangible assets subject to amortization, gross was 4.1 years.

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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	799 West Coliseum Way
Entity Address, City or Town	Midvale
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84047
City Area Code	801
Local Phone Number	947-3100
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	BYON
Security Exchange Name	NYSE
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,750,676
Entity Central Index Key	0001130713
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024

EQUITY SECURITIES (Details) - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Total equity securities	$ 129,667	$ 155,873
Equity securities, at fair value	32,328	$ 41,046
Fair Value, Recurring
Schedule of Equity Method Investments [Line Items]
Equity securities, at fair value	$ 32,300

LEASES - Other Information Related To Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Cash payments included in operating cash flows from lease arrangements	$ 1,657	$ 3,023

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (42,578)	$ (73,493)	$ (116,506)	$ (83,800)
Other comprehensive income
Unrealized gain on cash flow hedges, net of expense for taxes of $0, $0, $0, and $0	4	4	8	8
Other comprehensive income	4	4	8	8
Comprehensive income (loss) attributable to stockholders of Overstock.com, Inc.	$ (42,574)	$ (73,489)	$ (116,498)	$ (83,792)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Paragraph 1
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Section 45
-Paragraph 1B
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

+ Details

NET LOSS PER SHARE - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restricted stock units, PSUs, and Performance Share Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	4,109	1,467	4,109	1,467
Employee Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	135	110	135	110

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation We have prepared the accompanying unaudited consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States ("GAAP") have been omitted in accordance with the rules and regulations of the SEC. These financial statements should be read in conjunction with our audited annual consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2023. There have been no significant changes to our significant accounting policies disclosed in Note 2—Accounting Policies and Supplemental Disclosures, included in Part II, Item 8, Financial Statements and Supplementary Data, of our Annual Report on Form 10-K for the year ended December 31, 2023, except as disclosed below. The accompanying unaudited consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries and reflect all adjustments, consisting only of normal recurring adjustments, which are, in our opinion, necessary for a fair presentation of results for the interim periods presented. All intercompany account balances and transactions have been eliminated in consolidation. The results of operations for the three and six months ended June 30, 2024, are not necessarily indicative of the results to be expected for any future period or the full fiscal year, due to seasonality and other factors.
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 unaudited 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.
Recently issued accounting standards	Recently issued 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 is currently evaluating the impact of the adoption of this ASU on our consolidated financial statements and related disclosures. This ASU will likely result in us including the additional required disclosures when adopted. 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. The Company is currently evaluating the impact of the adoption of this ASU on our consolidated financial statements and related disclosures. This ASU will likely result in us including the additional required disclosures when adopted.

INDEMNIFICATIONS AND GUARANTEES	6 Months Ended
INDEMNIFICATIONS AND GUARANTEES	Jun. 30, 2024
Guarantees and Product Warranties [Abstract]
INDEMNIFICATIONS AND GUARANTEES	11. 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 we entered into in favor of Loan Core Capital Funding Corporation LLC under our building loan agreements, 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.

- Definition

The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References + Details

INTANGIBLES ASSETS, NET (Tables)

6 Months Ended

Jun. 30, 2024

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Schedule of Finite-Lived Intangible Assets

Intangible assets, net consist of the following (in thousands):


	June 30, 2024		December 31, 2023
Intangible assets subject to amortization, gross (1)	$	6,148	$	5,331
Less: accumulated amortization of intangible assets	(2,615)		(2,114)
Intangible assets subject to amortization, net	3,533		3,217
Intangible assets not subject to amortization	27,385		22,037
Total intangible assets, net	$	30,918	$	25,254

___________________________________________

(1) At June 30, 2024, the weighted average remaining useful life for intangible assets subject to amortization, gross was 4.1 years.

Schedule of Indefinite-Lived Intangible Assets

Intangible assets, net consist of the following (in thousands):


	June 30, 2024		December 31, 2023
Intangible assets subject to amortization, gross (1)	$	6,148	$	5,331
Less: accumulated amortization of intangible assets	(2,615)		(2,114)
Intangible assets subject to amortization, net	3,533		3,217
Intangible assets not subject to amortization	27,385		22,037
Total intangible assets, net	$	30,918	$	25,254

___________________________________________

(1) At June 30, 2024, the weighted average remaining useful life for intangible assets subject to amortization, gross was 4.1 years.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

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


	Three months ended June 30, 2023						Six months ended June 30, 2023
	Previously reported		Effect of change		As adjusted		Previously reported		Effect of change		As adjusted
Cost of goods sold	$	327,839	$	(13,197)	$	314,642	$	619,266	$	(25,168)	$	594,098
Gross profit	94,372		13,197		107,569		184,085		25,168		209,253
Customer service and merchant fees	—		13,197		13,197		—		25,168		25,168

FAIR VALUE MEASUREMENT - Assets and Liabilities Measured At Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Cash equivalents—Money market funds	$ 146,760	$ 246,425
Equity securities, at fair value	32,328	41,046
Available-for-sale debt securities	10,733	10,484
Trading securities held in a "rabbi trust"	1	496
Total assets	189,822	298,451
Liabilities:
Deferred compensation accrual "rabbi trust"	535	513
Total liabilities	535	513
Level 1
Assets:
Cash equivalents—Money market funds	146,760	246,425
Equity securities, at fair value	0	0
Available-for-sale debt securities	0	0
Trading securities held in a "rabbi trust"	1	496
Total assets	146,761	246,921
Liabilities:
Deferred compensation accrual "rabbi trust"	535	513
Total liabilities	535	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
Trading securities held in a "rabbi trust"	0	0
Total assets	0	0
Liabilities:
Deferred compensation accrual "rabbi trust"	0	0
Total liabilities	0	0
Level 3
Assets:
Cash equivalents—Money market funds	0	0
Equity securities, at fair value	32,328	41,046
Available-for-sale debt securities	10,733	10,484
Trading securities held in a "rabbi trust"	0	0
Total assets	43,061	51,530
Liabilities:
Deferred compensation accrual "rabbi trust"	0	0
Total liabilities	$ 0	$ 0

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 269,579	$ 261,922
Less: accumulated depreciation	(241,715)	(234,345)
Total property and equipment, net	27,864	27,577
Computer hardware and software, including internal-use software and website development
Property, Plant and Equipment [Line Items]
Property and equipment, gross	256,950	249,208
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,864	10,919
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,765	$ 1,795

LEASES (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Components of Lease Costs and Other Operating Lease Information

The components of lease expenses were as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Operating lease cost	$	677	$	1,492	$	1,559	$	2,898

Variable lease cost	163		383		431		747

Other Lease Information

The following table provides a summary of other information related to leases (in thousands):


	Six months ended June 30,
	2024		2023

Cash payments included in operating cash flows from lease arrangements	$	1,657	$	3,023

Leases, Additional Financial Information

The following table provides supplemental balance sheet information related to leases:


	June 30, 2024		December 31, 2023
Weighted-average remaining lease term—operating leases	1.25 years		1.57 years
Weighted-average discount rate—operating leases	5	%	7	%

Lessee, Operating Lease, Liability, to be Paid, Maturity

Maturity of lease liabilities under our non-cancellable operating leases as of June 30, 2024, are as follows (in thousands):


Payments due by period	Amount
2024 (Remainder)	$	1,448
2025	1,540
2026	250
2027	83


Total lease payments	3,321
Less interest	173
Present value of lease liabilities	$	3,148

BORROWINGS	6 Months Ended
BORROWINGS	Jun. 30, 2024
Debt Disclosure [Abstract]
BORROWINGS	8. BORROWINGS 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 outstanding balance under the Mezzanine Note. As of June 30, 2024, the total outstanding debt on the Senior Note was $34.2 million, net of $281,000 in capitalized debt issuance costs. Our total outstanding debt on the Senior Note is classified as held-for-sale and included in Long-term debt, net held for sale on our consolidated balance sheets. See Note 4—Assets Held for Sale for further information. The Senior Note includes certain financial and non-financial covenants and are secured by our corporate headquarters and the related land and rank senior to stockholders. The financial covenants require that Beyond maintain a net worth in excess of $15.0 million and minimum liquid assets of $1.0 million for the remainder of the term that the Senior Note is outstanding. We are in compliance with our debt covenants and continue to monitor our ongoing compliance with our debt covenants.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
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-Subparagraph (a)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

STOCKHOLDERS' EQUITY - Common Stock (Details)	Jun. 30, 2024 vote
Equity [Abstract]
Common stock, number of votes	1

NET LOSS PER SHARE

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

NET LOSS PER SHARE

15. 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):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Numerator:










Net loss attributable to common shareholders	$	(42,578)	$	(73,493)	$	(116,506)	$	(83,800)

Denominator:
Weighted average shares of common stock outstanding—basic	45,742		45,200		45,665		45,134


Weighted average shares of common stock outstanding—diluted	45,742		45,200		45,665		45,134








Net loss per share of common stock:
Basic	$	(0.93)	$	(1.63)	$	(2.55)	$	(1.86)
Diluted	$	(0.93)	$	(1.63)	$	(2.55)	$	(1.86)

The following shares were excluded from the calculation of diluted shares outstanding as their effect would have been anti-dilutive (in thousands):


	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
Restricted stock units, PSUs, and Performance Share Option	4,109	1,467	4,109	1,467
Employee stock purchase plan	135	110	135	110

EQUITY SECURITIES - Summary Of Equity Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Equity Securities [Line Items]
Equity securities accounted for under the equity method under ASC 323	$ 97,339	$ 114,827
Equity securities accounted for under the equity method under the fair value option	32,328	41,046
Total equity securities	129,667	155,873
Level 3
Schedule of Equity Securities [Line Items]
Equity securities accounted for under the equity method under the fair value option	$ 32,328	$ 41,046

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (42,578)	$ (73,493)	$ (116,506)	$ (83,800)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

STOCKHOLDERS' EQUITY - JonesTrading (Details) - Jones Trading Institutional Services LLC - Common Stock - At The Market Sales Program $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($) shares	Jun. 30, 2024 USD ($) shares
Class of Stock [Line Items]
Number of shares sold pursuant to Sales Agreement \| shares	0	0
Outstanding amount available under sales program \| $	$ 200.0	$ 200.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
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+ Details

FAIR VALUE MEASUREMENT - Level 3 Investment Activity (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2024	Jun. 30, 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 income (expense), net	Other income (expense), net
Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 51,530	$ 51,530	$ 82,787
Increase due to purchases of Level 3 investments			10,000
Decrease in fair value of Level 3 investments		(8,718)	(41,741)
Accrued interest on Level 3 investments		249	484
Ending balance		$ 43,061	$ 51,530

PROPERTY AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment, Net [Abstract]

PROPERTY AND EQUIPMENT, NET

5. PROPERTY AND EQUIPMENT, NET

Property and equipment, net (excluding assets held for sale) consist of the following (in thousands):


	June 30, 2024		December 31, 2023
Computer hardware and software, including internal-use software and website development	$	256,950	$	249,208


Furniture and equipment	10,864		10,919


Leasehold improvements	1,765		1,795

	269,579		261,922
Less: accumulated depreciation	(241,715)		(234,345)
Total property and equipment, net	$	27,864	$	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):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Capitalized internal-use software and website development	$	4,576	$	4,234	$	7,960	$	6,281
Depreciation of internal-use software and website development	2,066		1,645		4,016		4,715

Depreciation expense is classified within the corresponding operating expense categories on our consolidated statements of operations as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Cost of goods sold	$	98	$	206	$	196	$	440
Technology	3,930		3,286		7,447		7,990

General and administrative	103		1,021		211		2,063
Total depreciation	$	4,131	$	4,513	$	7,854	$	10,493

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Change In Presentation In The Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold	$ 317,936	$ 314,642	$ 625,858	$ 594,098
Gross profit	80,168	107,569	154,527	209,253
Customer service and merchant fees	$ 15,006	13,197	$ 28,949	25,168
Previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold		327,839		619,266
Gross profit		94,372		184,085
Customer service and merchant fees		0		0
Effect of change
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of goods sold		(13,197)		(25,168)
Gross profit		13,197		25,168
Customer service and merchant fees		$ 13,197		$ 25,168

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

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+ Details

NET LOSS PER SHARE (Tables)

6 Months Ended

Jun. 30, 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):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Numerator:










Net loss attributable to common shareholders	$	(42,578)	$	(73,493)	$	(116,506)	$	(83,800)

Denominator:
Weighted average shares of common stock outstanding—basic	45,742		45,200		45,665		45,134


Weighted average shares of common stock outstanding—diluted	45,742		45,200		45,665		45,134








Net loss per share of common stock:
Basic	$	(0.93)	$	(1.63)	$	(2.55)	$	(1.86)
Diluted	$	(0.93)	$	(1.63)	$	(2.55)	$	(1.86)

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):


	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
Restricted stock units, PSUs, and Performance Share Option	4,109	1,467	4,109	1,467
Employee stock purchase plan	135	110	135	110

EQUITY SECURITIES - Net Gain (Loss) Recognized On Equity Method Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Net gain (loss) recognized on our proportionate share of the net assets of our equity method securities	$ (7,754)	$ (36,237)	$ 17,488	$ 43,418
Increase (decrease) in fair value of equity method securities held under fair value option	$ 0	$ (44,402)	$ (8,718)	$ (44,402)

- Definition

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 1,414	$ 1,298
Equity securities at fair value	$ 32,328	$ 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, 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)	52,230,000	51,770,000
Common stock, shares outstanding (in shares)	45,750,000	45,414,000
Treasury stock (in shares)	6,480,000	6,356,000

Consolidated Statements of Comprehensive Loss (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Unrealized gain on cash flow hedges, tax expense	$ 0	$ 0	$ 0	$ 0

FAIR VALUE MEASUREMENT

6 Months Ended

Jun. 30, 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 (in thousands):


	Fair Value Measurements at June 30, 2024
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents—Money market funds	$	146,760	$	146,760	$	—	$	—
Equity securities, at fair value	32,328		—		—		32,328
Available-for-sale debt securities (1)	10,733		—		—		10,733
Trading securities held in a "rabbi trust" (1)	1		1		—		—
Total assets	$	189,822	$	146,761	$	—	$	43,061
Liabilities:

Deferred compensation accrual "rabbi trust" (2)	$	535	$	535	$	—	$	—
Total liabilities	$	535	$	535	$	—	$	—


	Fair Value Measurements at December 31, 2023
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents—Money market funds	$	246,425	$	246,425	$	—	$	—
Equity securities, at fair value	41,046		—		—		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 in the consolidated balance sheets.

The following table provides activity for our Level 3 investments (in thousands):


	Amount
Level 3 investments at December 31, 2022	$	82,787
Increase due to purchases of Level 3 investments	10,000
Decrease in fair value of Level 3 investments	(41,741)
Accrued interest on Level 3 investments	484
Level 3 investments at December 31, 2023	51,530

Decrease in fair value of Level 3 investments	(8,718)
Accrued interest on Level 3 investments	249
Level 3 investments at June 30, 2024	$	43,061

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

STOCK-BASED AWARDS (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Based Compensation

Stock-based compensation expense is classified within the corresponding operating expense categories on our consolidated statements of operations as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Cost of goods sold	$	3	$	11	$	3	$	30
Sales and marketing	273		238		495		428
Technology	2,028		2,609		4,008		5,031
General and administrative	2,955		3,412		5,529		6,576
Total stock-based compensation	$	5,259	$	6,270	$	10,035	$	12,065

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The following table summarizes restricted stock unit, PSU, and Performance Share Option award activity (in thousands, except per share data):


	Six months ended June 30, 2024
	Units	Weighted Average Grant Date Fair Value
Outstanding—beginning of year	984	$	29.60
Granted at fair value	3,987	10.81
Vested	(404)	32.91
Forfeited	(458)	22.45
Outstanding—end of period	4,109	$	11.84

INTANGIBLE ASSETS, NET - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended	6 Months Ended
	Apr. 18, 2024	Mar. 06, 2024	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Proceeds from the sale of intangible assets				$ 10,250	$ 0
Gain on sale of intangible assets				10,250	$ 0
Zulily ABC, LLC ("Zulily")
Finite-Lived Intangible Assets [Line Items]
Purchase price of intangible assets, including direct acquisition related costs		$ 4,900
Zulily ABC, LLC ("Zulily") \| Customer Lists
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired		$ 716
Finite-lived intangible assets, useful life (in years)		5 years
Zulily ABC, LLC ("Zulily") \| Trade Names
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired		$ 4,100
Indo Count Global, Inc.
Finite-Lived Intangible Assets [Line Items]
Proceeds from the sale of intangible assets	$ 10,300
Gain on sale of intangible assets			$ 10,300	$ 10,300

EQUITY SECURITIES

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

EQUITY SECURITIES

7. EQUITY SECURITIES

Equity securities consist of the following (in thousands):


	June 30, 2024		December 31, 2023
Equity securities accounted for under the equity method under ASC 323	$	97,339	$	114,827
Equity securities accounted for under the equity method under the fair value option	32,328		41,046

Total equity securities	$	129,667	$	155,873

Our equity securities accounted for under the equity method under ASC 323 include equity securities in which we can exercise significant influence, but not control, over these entities through holding more than a 20% voting interest in the entity.

The following table includes our equity securities accounted for under the equity method (ASC 323) and related ownership interest as of June 30, 2024:


			Ownership interest
Medici Ventures, L.P.			99%
tZERO Group, Inc.			28%
SpeedRoute, LLC			49%

The carrying amount of our equity method securities was $129.7 million at June 30, 2024, which is included in Equity securities on our consolidated balance sheets, of which $32.3 million was valued under the fair value option (tZERO and SpeedRoute). For our investments in Medici Ventures, L.P., tZERO, and SpeedRoute there was no difference in the carrying amount of the assets and liabilities and our maximum exposure to loss, and there was 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 income (expense), net in our consolidated statements of operations (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Net loss recognized on our proportionate share of the net assets of our equity method securities	$	(7,754)	$	(36,237)	$	(17,488)	$	(43,418)
Decrease in fair value of equity method securities held under fair value option	—		(44,402)		(8,718)		(44,402)

Regulation S-X Rule 10-01(b)(1)

In accordance with Rule 10-01(b)(1) of Regulation S-X, which applies to interim reports on Form 10-Q, the Company must determine if its equity method investees are considered "significant subsidiaries". Summarized income statement information of an equity method investee is required in an interim report if the significance criteria are met as defined under SEC guidance. For the period ended June 30, 2024, none of our equity method investees met the significance criteria. The following is the unaudited summarized financial information for those equity method securities that met the significance criteria for the period ended June 30, 2023 (in thousands):


	Three months ended June 30, 2023		Six months ended June 30, 2023

Results of Operations
Revenues	$	266	$	764
Pre-tax loss	(3,088)		(8,295)
Net loss	(3,111)		(8,435)

STOCKHOLDERS' EQUITY - Stock Repurchase Program (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Remaining authorized repurchase amount	$ 69,900,000		$ 69,900,000
Common Stock
Class of Stock [Line Items]
Payments for repurchase of common stock	$ 0	$ 0	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

STOCK-BASED AWARDS

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED AWARDS

13. 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):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Cost of goods sold	$	3	$	11	$	3	$	30
Sales and marketing	273		238		495		428
Technology	2,028		2,609		4,008		5,031
General and administrative	2,955		3,412		5,529		6,576
Total stock-based compensation	$	5,259	$	6,270	$	10,035	$	12,065

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 six months ended June 30, 2024, we granted 256,064 restricted stock awards with a cumulative grant date fair value of $7.7 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 six months ended June 30, 2024, we granted 1,472,500 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.

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 $1.8 million and $3.3 million for the three and six months ended June 30, 2024, respectively.

Performance Share Options

During the six months ended June 30, 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.

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 $438,000 for each of the three and six months ended June 30, 2024.

The following table summarizes restricted stock unit, PSU, and Performance Share Option award activity (in thousands, except per share data):


	Six months ended June 30, 2024
	Units	Weighted Average Grant Date Fair Value
Outstanding—beginning of year	984	$	29.60
Granted at fair value	3,987	10.81
Vested	(404)	32.91
Forfeited	(458)	22.45
Outstanding—end of period	4,109	$	11.84

Employee Stock Purchase Plan

Purchases under the 2021 Employee Stock Purchase Plan (the "ESPP") during the six months ended June 30, 2024 and 2023 were 56,575 shares and 68,011 shares, respectively, at an average purchase price per share of $16.53 and $16.46, respectively. At June 30, 2024, approximately 2.7 million shares of common stock remained available under the ESPP.

Stock-based compensation related to the ESPP is included in the stock-based compensation expense table above combined with the expense associated with our restricted stock units, PSUs, and performance share options. Stock-based compensation related to the ESPP was $305,000 and $515,000 for the three months ended June 30, 2024 and 2023, respectively, and $651,000 and $1.1 million for the six months ended June 30, 2024 and 2023, respectively.

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lease, Cost [Abstract]
Operating lease cost	$ 677	$ 1,492	$ 1,559	$ 2,898
Variable lease cost	$ 163	$ 383	$ 431	$ 747

EQUITY SECURITIES (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Equity Securities

Equity securities consist of the following (in thousands):


	June 30, 2024		December 31, 2023
Equity securities accounted for under the equity method under ASC 323	$	97,339	$	114,827
Equity securities accounted for under the equity method under the fair value option	32,328		41,046

Total equity securities	$	129,667	$	155,873

Equity Securities Ownership Interest

The following table includes our equity securities accounted for under the equity method (ASC 323) and related ownership interest as of June 30, 2024:


			Ownership interest
Medici Ventures, L.P.			99%
tZERO Group, Inc.			28%
SpeedRoute, LLC			49%

Equity Method Investments

The following table summarizes the net loss recognized on equity method securities recorded in Other income (expense), net in our consolidated statements of operations (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Net loss recognized on our proportionate share of the net assets of our equity method securities	$	(7,754)	$	(36,237)	$	(17,488)	$	(43,418)
Decrease in fair value of equity method securities held under fair value option	—		(44,402)		(8,718)		(44,402)

Equity Method Investments, Summarized Financial Information

The following is the unaudited summarized financial information for those equity method securities that met the significance criteria for the period ended June 30, 2023 (in thousands):


	Three months ended June 30, 2023		Six months ended June 30, 2023

Results of Operations
Revenues	$	266	$	764
Pre-tax loss	(3,088)		(8,295)
Net loss	(3,111)		(8,435)

INTANGIBLE ASSETS, NET - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets subject to amortization, gross	$ 6,148	$ 5,331
Less: accumulated amortization of intangible assets	(2,615)	(2,114)
Intangible assets subject to amortization, net	3,533	3,217
Intangible assets not subject to amortization	27,385	22,037
Intangible assets, net	$ 30,918	$ 25,254
Weighted average remaining useful life (in years)	4 years 1 month 6 days

PROPERTY AND EQUIPMENT, NET (Tables)

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment, Net [Abstract]

Property, Plant and Equipment

Property and equipment, net (excluding assets held for sale) consist of the following (in thousands):


	June 30, 2024		December 31, 2023
Computer hardware and software, including internal-use software and website development	$	256,950	$	249,208


Furniture and equipment	10,864		10,919


Leasehold improvements	1,765		1,795

	269,579		261,922
Less: accumulated depreciation	(241,715)		(234,345)
Total property and equipment, net	$	27,864	$	27,577

Capitalization of Internal Costs, Policy


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Capitalized internal-use software and website development	$	4,576	$	4,234	$	7,960	$	6,281
Depreciation of internal-use software and website development	2,066		1,645		4,016		4,715

Schedule of Depreciation and Amortization by Operating Expense Category

Depreciation expense is classified within the corresponding operating expense categories on our consolidated statements of operations as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Cost of goods sold	$	98	$	206	$	196	$	440
Technology	3,930		3,286		7,447		7,990

General and administrative	103		1,021		211		2,063
Total depreciation	$	4,131	$	4,513	$	7,854	$	10,493

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (116,506)	$ (83,800)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	8,355	10,501
Non-cash operating lease cost	1,491	2,554
Stock-based compensation to employees and directors	10,035	12,065
(Increase) decrease in deferred income taxes, net	175	(11,502)
Gain on sale of intangible assets	(10,250)	0
Loss from equity method securities	26,206	87,820
Other non-cash adjustments	(260)	(186)
Changes in operating assets and liabilities:
Accounts receivable, net	726	(1,429)
Inventories	941	213
Prepaids and other current assets	(182)	(907)
Other long-term assets, net	132	(1,537)
Accounts payable	(14,897)	11,992
Accrued liabilities	(12,537)	(3,369)
Unearned revenue	(1,791)	(1,101)
Operating lease liabilities	(1,575)	(2,779)
Other long-term liabilities	(565)	237
Net cash (used in) provided by operating activities	(110,502)	18,772
Cash flows from investing activities:
Proceeds from the sale of intangible assets	10,250	0
Expenditures for property and equipment	(7,951)	(12,048)
Purchase of intangible assets	(6,160)	(22,832)
Disbursement for notes receivable	0	(10,000)
Other investing activities, net	553	445
Net cash used in investing activities	(3,308)	(44,435)
Cash flows from financing activities:
Payments of taxes withheld upon vesting of employee stock awards	(3,250)	(2,054)
Other financing activities, net	653	(664)
Net cash used in financing activities	(2,597)	(2,718)
Net decrease in cash, cash equivalents, and restricted cash	(116,407)	(28,381)
Cash, cash equivalents, and restricted cash, beginning of period	302,749	371,457
Cash, cash equivalents, and restricted cash, end of period	$ 186,342	$ 343,076

REVENUE AND CONTRACT LIABILITY (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

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 periods presented (in thousands):


	Amount
Unearned revenue at December 31, 2022	$	44,480
Increase due to deferral of revenue at period end, net	35,290
Decrease due to beginning contract liabilities recognized as revenue	(30,173)
Unearned revenue at December 31, 2023	49,597
Increase due to deferral of revenue at period end, net	30,719
Decrease due to beginning contract liabilities recognized as revenue	(32,510)
Unearned revenue at June 30, 2024	$	47,806

Schedule of Sales Returns, Reserve For Sales Returns

The following table provides additions to and deductions 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, 2022	$	10,222
Additions to the allowance	121,939
Deductions from the allowance	(123,510)
Allowance for returns at December 31, 2023	8,651
Additions to the allowance	58,771
Deductions from the allowance	(58,310)
Allowance for returns at June 30, 2024	$	9,112

LEASES

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

LEASES

9. LEASES

We have operating leases for a warehouse, office space, and data centers. Our leases have remaining lease terms of one year to three 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.

The components of lease expenses were as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Operating lease cost	$	677	$	1,492	$	1,559	$	2,898

Variable lease cost	163		383		431		747

The following table provides a summary of other information related to leases (in thousands):


	Six months ended June 30,
	2024		2023

Cash payments included in operating cash flows from lease arrangements	$	1,657	$	3,023

The following table provides supplemental balance sheet information related to leases:


	June 30, 2024		December 31, 2023
Weighted-average remaining lease term—operating leases	1.25 years		1.57 years
Weighted-average discount rate—operating leases	5	%	7	%

Maturity of lease liabilities under our non-cancellable operating leases as of June 30, 2024, are as follows (in thousands):


Payments due by period	Amount
2024 (Remainder)	$	1,448
2025	1,540
2026	250
2027	83


Total lease payments	3,321
Less interest	173
Present value of lease liabilities	$	3,148

NET LOSS PER SHARE - Income & Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net loss attributable to common shareholders	$ (42,578)	$ (73,493)	$ (116,506)	$ (83,800)
Denominator:
Basic (in shares)	45,742,000	45,200,000	45,665,000	45,134,000
Diluted (in shares)	45,742,000	45,200,000	45,665,000	45,134,000
Net loss per share of common stock:
Basic (in dollars per share)	$ (0.93)	$ (1.63)	$ (2.55)	$ (1.86)
Diluted (in dollars per share)	$ (0.93)	$ (1.63)	$ (2.55)	$ (1.86)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-11

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

+ Details

STOCK-BASED AWARDS - Additional Information (Details) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Mar. 31, 2024	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) installment priceHurdle $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2023
Stock-Based Awards
Employee benefits and share-based compensation \| $				$ 651	$ 1,100
Stock issued during period, employee stock purchase plan (in shares) \| shares				56,575	68,011
Average price per share (in dollars per share)				$ 16.53	$ 16.46
Restricted Stock Awards
Stock-Based Awards
Vesting period (in years)		4 years				3 years
Restricted Stock Awards \| Equity Incentive Plan, Four-Year Vesting
Stock-Based Awards
Granted at fair value (in shares) \| shares				256,064
Restricted Stock Awards \| Equity Incentive Plan, Four-Year Vesting Percent
Stock-Based Awards
Cumulative grant date fair value \| $	$ 7,700			$ 7,700
Restricted Stock Awards \| First year
Stock-Based Awards
Annual award vesting percentage				33.30%
Restricted Stock Awards \| Second year
Stock-Based Awards
Annual award vesting percentage				33.30%
Restricted Stock Awards \| Third year
Stock-Based Awards
Annual award vesting percentage				33.40%
Restricted Stock Awards \| Equity Incentive Plan, Four-Year Vesting Percent
Stock-Based Awards
Annual award vesting percentage				25.00%
Performance Shares
Stock-Based Awards
Granted at fair value (in shares) \| shares				1,472,500
Employee benefits and share-based compensation \| $	$ 1,800			$ 3,300
Performance Shares, Revenue Performance
Stock-Based Awards
Award vesting rights (in percent)				25.00%
Performance Shares, Stock Performance
Stock-Based Awards
Vesting period (in years)				3 years
Award vesting rights (in percent)				75.00%
Number of installments \| installment				3
Number of share price hurdles \| priceHurdle				3
Performance Shares, Stock Performance \| Share-Based Payment Arrangement, Tranche One
Stock-Based Awards
Award vesting rights (in percent)				33.00%
Consecutive trading days used to calculate weighted-average price (in days)				20 days
Threshold weighted average price for vesting of awards (in dollars per share)	$ 40.00			$ 40.00
Performance Shares, Stock Performance \| Share-Based Payment Arrangement, Tranche Two
Stock-Based Awards
Award vesting rights (in percent)				33.00%
Consecutive trading days used to calculate weighted-average price (in days)				20 days
Threshold weighted average price for vesting of awards (in dollars per share)	50.00			$ 50.00
Performance Shares, Stock Performance \| Share-Based Payment Arrangement, Tranche Three
Stock-Based Awards
Award vesting rights (in percent)				34.00%
Consecutive trading days used to calculate weighted-average price (in days)				20 days
Threshold weighted average price for vesting of awards (in dollars per share)	$ 60.00			$ 60.00
Performance Share Options
Stock-Based Awards
Vesting period (in years)				4 years
Number of installments \| installment				3
Number of share price hurdles \| priceHurdle				3
Employee benefits and share-based compensation \| $	$ 438			$ 438
Grants in period (in shares) \| shares				2,250,000
Performance Share Options \| Share-Based Payment Arrangement, Tranche One
Stock-Based Awards
Consecutive trading days used to calculate weighted-average price (in days)				20 days
Threshold weighted average price for vesting of awards (in dollars per share)	$ 45.00			$ 45.00
Vested and expected to vest (in shares) \| shares	500,000			500,000
Vested and expected to vest, weighted average exercise price (in dollars per share)	$ 45.00			$ 45.00
Performance Share Options \| Share-Based Payment Arrangement, Tranche Two
Stock-Based Awards
Consecutive trading days used to calculate weighted-average price (in days)				20 days
Threshold weighted average price for vesting of awards (in dollars per share)	$ 50.00			$ 50.00
Vested and expected to vest (in shares) \| shares	750,000			750,000
Vested and expected to vest, weighted average exercise price (in dollars per share)	$ 50.00			$ 50.00
Performance Share Options \| Share-Based Payment Arrangement, Tranche Three
Stock-Based Awards
Consecutive trading days used to calculate weighted-average price (in days)				20 days
Threshold weighted average price for vesting of awards (in dollars per share)	$ 60.00			$ 60.00
Vested and expected to vest (in shares) \| shares	1,000,000			1,000,000
Vested and expected to vest, weighted average exercise price (in dollars per share)	$ 60.00			$ 60.00
Employee Stock
Stock-Based Awards
Employee benefits and share-based compensation \| $	$ 305		$ 515
Number of shares available under plan (in shares) \| shares	2,700,000			2,700,000

EQUITY SECURITIES - Equity Method Securities That Are Considered Significant Subsidiaries (Details) - Equity Method Investment, Nonconsolidated Investee or Group of Investees - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Schedule of Equity Securities [Line Items]
Revenues	$ 266	$ 764
Pre-tax loss	(3,088)	(8,295)
Net loss	$ (3,111)	$ (8,435)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

+ Details

PROPERTY AND EQUIPMENT, NET - Capitalized Software & Website Development (Details) - Software Development - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Capitalized internal-use software and website development	$ 4,576	$ 4,234	$ 7,960	$ 6,281
Depreciation of internal-use software and website development	$ 2,066	$ 1,645	$ 4,016	$ 4,715

FAIR VALUE MEASUREMENT (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

The following tables summarize our assets and liabilities measured at fair value on a recurring basis using the following levels of inputs (in thousands):


	Fair Value Measurements at June 30, 2024
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents—Money market funds	$	146,760	$	146,760	$	—	$	—
Equity securities, at fair value	32,328		—		—		32,328
Available-for-sale debt securities (1)	10,733		—		—		10,733
Trading securities held in a "rabbi trust" (1)	1		1		—		—
Total assets	$	189,822	$	146,761	$	—	$	43,061
Liabilities:

Deferred compensation accrual "rabbi trust" (2)	$	535	$	535	$	—	$	—
Total liabilities	$	535	$	535	$	—	$	—


	Fair Value Measurements at December 31, 2023
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents—Money market funds	$	246,425	$	246,425	$	—	$	—
Equity securities, at fair value	41,046		—		—		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 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 (in thousands):


	Amount
Level 3 investments at December 31, 2022	$	82,787
Increase due to purchases of Level 3 investments	10,000
Decrease in fair value of Level 3 investments	(41,741)
Accrued interest on Level 3 investments	484
Level 3 investments at December 31, 2023	51,530

Decrease in fair value of Level 3 investments	(8,718)
Accrued interest on Level 3 investments	249
Level 3 investments at June 30, 2024	$	43,061

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net revenue	$ 398,104	$ 422,211	$ 780,385	$ 803,351
Cost of goods sold	317,936	314,642	625,858	594,098
Gross profit	80,168	107,569	154,527	209,253
Operating expenses
Sales and marketing	66,290	49,242	134,196	96,290
Technology	27,342	27,706	56,923	58,252
General and administrative	18,531	21,673	38,985	42,156
Customer service and merchant fees	15,006	13,197	28,949	25,168
Total operating expenses	127,169	111,818	259,053	221,866
Operating loss	(47,001)	(4,249)	(104,526)	(12,613)
Interest income, net	2,309	3,059	5,026	5,618
Other income (expense), net	2,231	(80,673)	(16,560)	(88,062)
Loss before income taxes	(42,461)	(81,863)	(116,060)	(95,057)
Provision (benefit) for income taxes	117	(8,370)	446	(11,257)
Net loss attributable to stockholders of Overstock.com, Inc.	$ (42,578)	$ (73,493)	$ (116,506)	$ (83,800)
Net loss per share of common stock:
Basic (in dollars per share)	$ (0.93)	$ (1.63)	$ (2.55)	$ (1.86)
Diluted (in dollars per share)	$ (0.93)	$ (1.63)	$ (2.55)	$ (1.86)
Denominator:
Basic (in shares)	45,742,000	45,200,000	45,665,000	45,134,000
Diluted (in shares)	45,742,000	45,200,000	45,665,000	45,134,000

EQUITY SECURITIES - Equity Securities Accounted Under ASC 323 And Ownership Interest (Details) - Beyond, Inc.	6 Months Ended
	Jun. 30, 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.com, Inc.
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage (in percent)	28.00%
SpeedRoute
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage (in percent)	49.00%

REVENUE AND CONTRACT LIABILITY - Sales Returns Allowance (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Beginning balance	$ 8,651	$ 10,222
Additions to the allowance	58,771	121,939
Deductions from the allowance	(58,310)	(123,510)
Ending balance	$ 9,112	$ 8,651

LEASES - Supplemental Balance Sheet Information (Details)	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted-average remaining lease term—operating leases	1 year 3 months	1 year 6 months 25 days
Weighted-average discount rate—operating leases	5.00%	7.00%

LEASES - Additional Information (Details)	Jun. 30, 2024
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)	3 years