v3.26.1
Non-Controlling Interests
3 Months Ended
Mar. 31, 2026
Noncontrolling Interest [Abstract]  
Non-Controlling Interests
Note 13 – Non-Controlling Interests
Freight Holding
As of both December 31, 2025 and March 31, 2026, we owned 90% of our subsidiary Freight Holding’s capital stock, or 85% and 84%, respectively, on a fully-diluted basis. The minority stockholders of Freight Holding include, among others: (i) holders of Freight
Holding’s Series A and A-1 Preferred Stock; and (ii) holders of common equity awards issued under the employee equity incentive plans.
Freight Holding Supplier Financing Program
Freight Holding utilizes a third-party financial institution that allows our suppliers to be paid by the third-party financial institution earlier than the due date on the applicable invoice at a discounted price. In general, supplier invoices financed by the third-party financial institution are due for payment by Freight Holding within 30 days. As of December 31, 2025 and March 31, 2026, the liabilities related to the supplier financing program were immaterial and the amounts are included within accounts payable on the condensed consolidated balance sheets.
Trendyol GO
On June 17, 2025, we closed the acquisition of an 85% controlling stake in Trendyol GO. As of March 31, 2026, our controlling stake in Trendyol GO was 87%. As of March 31, 2026, the non-controlling interest in Trendyol GO was classified as redeemable non-controlling interest as it is subject to a put/call agreement that is not solely within our control. The put or call is exercisable in the first quarter of 2031. At each balance sheet date, the carrying value of the redeemable non-controlling interest will be adjusted to the estimated redemption value. There were no material adjustments as of March 31, 2026.