Note 12 - Segment Reporting

6 Months Ended

Jun. 30, 2022

Segment Reporting Disclosure [Text Block]

12. Segment Reporting

As a result of the CarZeus Purchase Transaction on August 1, 2021, the Company determined that operates in two reportable segments: Automotive digital marketing and used vehicle acquisition and resale through the Company’s Tradein Expert subsidiary. The automotive digital marketing segment consists of all aspects related to automotive digital marketing, whereas the used vehicle acquisition and resale segment consists solely of the used vehicle acquisition and wholesale reselling business. Revenues generated by the automotive digital marketing segment primarily represent lead generation and digital advertising, while revenues generated by the used vehicle acquisition and resale segment primarily represent used car vehicle sales. . On May 16, 2022, the Company suspended its CarZeus operations and furloughed its employees within that segment in order to conserve cash.

The segment performance is reviewed by the chief executive officer at the operating (loss) income level. The following table provides segment reporting of the Company for the three and six months ended June 30, 2022:

Three Months Ended June 30, 2022
(In thousands)	Automotive digital marketing		Used vehicle acquisition & resale		Total
Revenues	$	13,515	$	3,680	$	17,195
Cost of sales		10,017		3,497		13,514
Gross profit		3,498		183		3,681
Operating loss		3,965		236		4,201
Total assets		22,362		551		22,913

Six Months Ended June 30, 2022
(In thousands)	Automotive digital marketing		Used vehicle acquisition & resale		Total
Revenues	$	28,228	$	8,031	$	36,259
Cost of sales		20,971		7,703		28,674
Gross profit		7,257		328		7,585
Operating loss		7,613		493		8,106
Total assets		22,362		551		22,913

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

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