1stdibs.com, Inc. (stylized as 1stDibs) is an American e-commerce company. It has an online marketplace, which sells luxury items such as high-end furniture for interior design, fine art and jewelry. The company has been recognized for "pushing the antiques business into the 21st century.3 It was founded by Michael Bruno.1Wikipedia text CC BY-SA 4.0
1stdibs.com, Inc. (stylized as 1stDibs) is an American e-commerce company. It has an online marketplace, which sells luxury items such as high-end furniture for interior design, fine art and jewelry. The company has been recognized for "pushing the antiques business into the 21st century." Originally, founded in Paris, it is headquartered in New York City.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Cost of revenueResearch and developmentOther costs
Cost of revenue27¢$24.2M
Research and development26¢$23.4M
Other costs47¢$41.9M
Income tax0¢$98.0K
Out of $89.6M in revenue.8 The company lost money this year.
Financial statements
Revenue91011128$89.6M in 2025+27% since 2019Gross profit91011128$65.4M in 2025+40% since 2019Operating income91011128-$19.0M in 2025−39% since 2019Net income91011128-$13.7M in 2025−54% since 2019
Revenue1314$23.3M in Q2 FY2026+4% since Q1 FY2026Gross profit1314$17.2M in Q2 FY2026+3% since Q1 FY2026Operating income1314-$2.1M in Q2 FY2026−38% since Q1 FY2026Net income1314-$1.0M in Q2 FY2026−53% since Q1 FY2026
Every line of the income statement as filed: the last 3 fiscal years, latest first.8
Period ending
2025-12-31
2024-12-31
2023-12-31
Net revenue
$89.6M
$88.3M
$84.7M
Cost of revenue
$24.2M
$24.8M
$25.1M
Gross profit
$65.4M
$63.4M
$59.6M
Sales and marketing
$31.1M
$38.1M
$36.6M
Technology development
$23.4M
$21.2M
$21.6M
General and administrative
$26.9M
$27.4M
$28.6M
Provision for transaction losses
$3.0M
$3.0M
$3.7M
Total operating expenses
$84.4M
$89.6M
$90.6M
Loss from operations
-$19.0M
-$26.2M
-$31.0M
Interest income
$4.0M
$5.9M
$6.6M
Other, net
$1.4M
$1.7M
$1.7M
Total other income, net
$5.4M
$7.6M
$8.3M
Net loss before income taxes
-$13.6M
-$18.6M
-$22.7M
Provision for income taxes
-$98.0K
-$44.0K
-$14.0K
Net loss
-$13.7M
-$18.6M
-$22.7M
Net loss per sharebasic (in usd per share)
-$0.38
-$0.49
-$0.57
Net loss per sharediluted (in usd per share)
-$0.38
-$0.49
-$0.57
Weighted average common shares outstandingbasic (in shares)
36.1M shares
37.8M shares
39.7M shares
Weighted average common shares outstandingdiluted (in shares)
36.1M shares
37.8M shares
39.7M shares
No quarter-by-quarter statement was filed.
Total assets91011128$132.1M in 2025+62% since 2020Total liabilities91011128$38.5M in 2025+44% since 2020Shareholders’ equity1011128$93.6M in 2025Cash91011128$22.9M in 2025−59% since 2019
Total assets1314$110.4M in Q2 FY2026−16% since Q1 FY2025Total liabilities1314$36.6M in Q2 FY2026−5% since Q1 FY2025Shareholders’ equity1314$73.7M in Q2 FY2026−21% since Q1 FY2025Cash1314$18.9M in Q2 FY2026−18% since Q1 FY2025
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.8
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-05-31
Cash and cash equivalents
$22.9M
$26.0M
$37.4M
Short-term investments
$72.2M
$77.9M
Accounts receivable, net of allowance for doubtful accounts of $72 and $13 at December 31, 2025 and 2024, respectively
$422.0K
$490.0K
Prepaid expenses
$3.2M
$2.9M
Receivables from payment processors
$2.0M
$2.8M
Other current assets
$1.6M
$1.8M
Total current assets
$102.3M
$111.9M
Restricted cash, non-current
$3.7M
$3.7M
$3.6M
Property and equipment, net
$2.7M
$3.6M
Operating lease right-of-use assets
$16.7M
$19.7M
Goodwill
$4.3M
$4.2M
$4.1M
Other assets
$2.4M
$2.7M
Total assets
$132.1M
$145.8M
Accounts payable
$1.8M
$2.2M
Payables due to sellers
$6.6M
$8.6M
Accrued expenses
$9.5M
$11.5M
Operating lease liabilities, current
$4.4M
$4.2M
Other current liabilities
$2.1M
$2.0M
Total current liabilities
$24.4M
$28.5M
Operating lease liabilities, non-current
$14.1M
$18.0M
Other liabilities
$4.0K
$24.0K
Total liabilities
$38.5M
$46.5M
Preferred stock, $0.01 par value; 10,000,000 shares authorized as of December 31, 2025 and 2024; zero shares issued and outstanding as of December 31, 2025 and 2024
$0
$0
Common stock, $0.01 par value; 400,000,000 shares authorized as of December 31, 2025 and 2024; 44,086,361 and 42,271,388 shares issued as of December 31, 2025 and 2024, respectively; and 36,848,301 and 35,827,866 shares outstanding as of December 31, 2025 and 2024, respectively
$441.0K
$422.0K
Treasury stock, at cost; 7,238,060 and 6,443,522 shares as of December 31, 2025 and 2024, respectively
-$35.0M
-$31.6M
Additional paid-in capital
$474.3M
$463.2M
Accumulated deficit
-$346.0M
-$332.4M
Accumulated other comprehensive loss
-$153.0K
-$371.0K
Total stockholders equity
$93.6M
$99.3M
$134.3M
$148.0M
Total liabilities and stockholders equity
$132.1M
$145.8M
Allowance for doubtful accounts
$72.0K
$13.0K
$188.0K
Preferred stock, par value (in usd per share)
$0.01
$0.01
$0.01
Preferred stock, authorized (in shares)
10.0M shares
10.0M shares
10.0M shares
Preferred stock, outstanding (in shares)
0 shares
0 shares
Preferred stock, issued (in shares)
0 shares
0 shares
Common stock, par value (in usd per share)
$0.01
$0.01
Common stock, authorized (in shares)
400.0M shares
400.0M shares
Common stock, issued (in shares)
44.1M shares
42.3M shares
Common stock, outstanding (in shares)
36.8M shares
35.8M shares
Treasury stock, common (in shares)
7.2M shares
6.4M shares
Period ending
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-05-31
Cash and cash equivalents
$22.9M
$26.0M
$37.4M
Short-term investments
$72.2M
$77.9M
Accounts receivable, net of allowance for doubtful accounts of $72 and $13 at December 31, 2025 and 2024, respectively
$422.0K
$490.0K
Prepaid expenses
$3.2M
$2.9M
Receivables from payment processors
$2.0M
$2.8M
Other current assets
$1.6M
$1.8M
Total current assets
$102.3M
$111.9M
Restricted cash, non-current
$3.7M
$3.7M
$3.6M
Property and equipment, net
$2.7M
$3.6M
Operating lease right-of-use assets
$16.7M
$19.7M
Goodwill
$4.3M
$4.2M
$4.1M
Other assets
$2.4M
$2.7M
Total assets
$132.1M
$145.8M
Accounts payable
$1.8M
$2.2M
Payables due to sellers
$6.6M
$8.6M
Accrued expenses
$9.5M
$11.5M
Operating lease liabilities, current
$4.4M
$4.2M
Other current liabilities
$2.1M
$2.0M
Total current liabilities
$24.4M
$28.5M
Operating lease liabilities, non-current
$14.1M
$18.0M
Other liabilities
$4.0K
$24.0K
Total liabilities
$38.5M
$46.5M
Preferred stock, $0.01 par value; 10,000,000 shares authorized as of December 31, 2025 and 2024; zero shares issued and outstanding as of December 31, 2025 and 2024
$0
$0
Common stock, $0.01 par value; 400,000,000 shares authorized as of December 31, 2025 and 2024; 44,086,361 and 42,271,388 shares issued as of December 31, 2025 and 2024, respectively; and 36,848,301 and 35,827,866 shares outstanding as of December 31, 2025 and 2024, respectively
$441.0K
$422.0K
Treasury stock, at cost; 7,238,060 and 6,443,522 shares as of December 31, 2025 and 2024, respectively
-$35.0M
-$31.6M
Additional paid-in capital
$474.3M
$463.2M
Accumulated deficit
-$346.0M
-$332.4M
Accumulated other comprehensive loss
-$153.0K
-$371.0K
Total stockholders equity
$93.6M
$99.3M
$134.3M
$148.0M
Total liabilities and stockholders equity
$132.1M
$145.8M
Allowance for doubtful accounts
$72.0K
$13.0K
$188.0K
Preferred stock, par value (in usd per share)
$0.01
$0.01
$0.01
Preferred stock, authorized (in shares)
10.0M shares
10.0M shares
10.0M shares
Preferred stock, outstanding (in shares)
0 shares
0 shares
Preferred stock, issued (in shares)
0 shares
0 shares
Common stock, par value (in usd per share)
$0.01
$0.01
Common stock, authorized (in shares)
400.0M shares
400.0M shares
Common stock, issued (in shares)
44.1M shares
42.3M shares
Common stock, outstanding (in shares)
36.8M shares
35.8M shares
Treasury stock, common (in shares)
7.2M shares
6.4M shares
Cash from operations91011128-$2.4M in 2025−87% since 2019Capital spending91011128$763.0K in 2025−60% since 2019Free cash flow91011128-$3.2M in 2025−84% since 2019Share buybacks11128$3.4M in 2025
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.8
Period ending
2025-12-31
2024-12-31
2023-12-31
Net loss
-$13.7M
-$18.6M
-$22.7M
Depreciation and amortization
$1.7M
$2.0M
$2.3M
Stock-based compensation expense
$14.1M
$14.8M
$12.4M
Provision for transaction losses, returns and refunds
$323.0K
$1.1M
$875.0K
Non-cash operating lease expense
$3.6M
$3.4M
$2.6M
Accretion of discounts and amortization of premiums on short-term investments, net
-$450.0K
$41.0K
-$3.4M
Other, net
$66.0K
$174.0K
$8.0K
Accounts receivable
-$65.0K
-$228.0K
$59.0K
Prepaid expenses and other current assets
-$552.0K
$44.0K
-$1.5M
Receivables from payment processors
$843.0K
-$163.0K
-$194.0K
Other assets
$159.0K
-$679.0K
-$2.1M
Accounts payable and accrued expenses
-$2.4M
-$1.7M
$578.0K
Payables due to sellers
-$2.0M
$2.1M
-$662.0K
Operating lease liabilities
-$4.1M
-$3.3M
-$2.8M
Other current liabilities and other liabilities
$74.0K
-$1.8M
$1.0M
Net cash used in operating activities
-$2.4M
-$2.9M
-$13.6M
Maturities of short-term investments
$70.5M
$92.0M
$92.7M
Sales of short-term investments
$988.0K
$18.3M
$0
Purchases of short-term investments
-$65.2M
-$86.4M
-$191.1M
Purchases of property and equipment
-$763.0K
-$1.9M
-$1.8M
Other, net
$0
$302.0K
$2.0K
Net cash provided by (used in) investing activities
$5.5M
$22.3M
-$100.2M
Proceeds from exercise of stock options
$743.0K
$817.0K
$353.0K
Payments for repurchase of common stock
-$3.4M
-$27.7M
-$3.4M
Payments for taxes related to net share settlement of stock-based compensation awards
-$3.8M
-$3.8M
-$608.0K
Net cash used in financing activities
-$6.4M
-$30.7M
-$3.6M
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
$269.0K
-$29.0K
$349.0K
Net decrease in cash, cash equivalents, and restricted cash
1stDibs sits at the top of its group. 3 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of 1stDibs
David S. RosenblattFiled SCHEDULE 13G/A on 1stDibs, latest Aug 14, 2026 (9 filings since Feb 14, 2022)
UAB “1stdibs.com Lithuania” Subsidiary · Lithuania
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What 1stDibs reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our corporate headquarters are located in New York, New York. Effective January 2024, our corporate headquarters have been relocated to 300 Park Avenue South, 10th Floor, New York, New York, where we currently lease approximately 13,000 square feet under a lease agreement that expires in December 2028. We also lease approximately 42,000 square feet in New York, New York, which we are currently subleasing to a third party. See Note 9, “Leases” for further discussion.
We believe that our facilities are suitable to meet our current needs and that, if we require additional space, we will be able to obtain additional facilities.
1stDibs was founded in 2000 by Michael Bruno as an online luxury marketplace for antiques after he visited the Marché aux Puces in Paris, France. 1stDibs.com started as a listings site for art dealers to sell offline, but the site was redesigned in 2013 to give buyers the option to purchase items online. The company has received praise for restricting its listings to authorized dealers for authenticity, and scrutiny for preventing dealers from completing a negotiation offline to avoid the company's commission fees.
In 2015, 1stDibs raised $50 million from venture capital firm Insight Partners. Part of that funding went to buy out all shares held by Bruno, who had stepped away from day-to-day operations. The raise added Deven Parekh from Insight to the company's board.
In March 2019, the company completed a series D funding round of $76 million. It has received $170 million in funding to date and has a valuation of more than $500 million. As of February 2019, 1stDibs works with 4,000 dealers in 28 countries.
In December 2019, 1stDibs closed its brick-and-mortar location at Terminal Stores after the new owner of the building began a large-scale construction project.
In June 2021, the company went public on the Nasdaq, under the symbol DIBS, raising $112 million at a valuation of roughly $773 million. The years that followed were turbulent -- revenue fell 13% in 2023 to $84.7 million -- before a restructuring effort stabilized the business. The company exited 2025 as its first Adjusted EBITDA-positive year as a public company, though a return to GMV growth is not expected until Q4 2026, with a depressed housing market remaining a key headwind.
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
442 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 38 major events, 282 insider forms, 23 large holders, 79 other. The latest 20:
163 open-market trades by officers, directors and large owners since October 2021: 2 buys and 161 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 87. Change is in shares since the quarter before.
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).15
Risk factors and legal proceedings
The risks 1stDibs names in Item 1A of its 10-K filed Feb 27, 2026: 71 risks under these headings, as written.15
Risks Related to Our Business and Industry
We have a history of operating losses, and we may not achieve or maintain profitability in the future, which in turn could negatively impact our financial condition and our stock price.
Our net revenue and results of operations fluctuate within each period and from period to period, causing our stock price to fluctuate and making our financial results difficult to predict.
Our business is affected by seasonality and, if we experience lower than expected net revenue during an anticipated season, our results of operations and financial condition for that year may be impacted, which could substantially harm our business, results of operations, and financial condition.
Our ability to grow our business and market share depend on our ability to attract and maintain an active community of buyers and sellers and to ensure a sufficient volume of listings on our online marketplace.
We may expand our business through acquisitions of other businesses, products, or technologies, which have required, could continue to require, and may require significant management attention, could disrupt our business, dilute stockholder value, adversely affect our operating results, and/or prove to be unsuccessful.
Our ability to establish the authenticity of items listed and sold through our online marketplace is essential to maintaining our business, brand, and reputation. Failure to do so may adversely affect customer trust and pose risks to our operations and standing in the market.
Items listed on our online marketplace may be subject to claims of being counterfeit, infringing, hazardous, illegal, or otherwise subject to regulations or cultural patrimony considerations. Addressing such claims can result in operational, legal, and reputational challenges.
Liability for fraudulent or unlawful activities by sellers, including the listing of stolen items on our online marketplace, poses risks to our business and reputation.
We rely, in part, on sellers to provide a positive experience to buyers, which includes limited disruptions in service by sellers.
Shipping and logistics are critical to our business, and delays, failures, or issues with the condition of items delivered through our online marketplace harm our business and reputation.
If we do not compete effectively, our results of operations and market position could suffer.
The other 60 risks
Our net revenue could be negatively impacted as a result of greater than expected product returns.
Insufficient allowance for transaction losses could negatively impact our financial results.
Our business and results of operations are sensitive to changes in or uncertainty about economic conditions in the U.S. and international markets that impact consumer spending, including consumer discretionary spending.
National retailers and brands set their own retail prices and promotional discounts on new luxury design items, which could adversely affect our value proposition to our buyers.
If we fail to successfully anticipate and respond to changing preferences among our buyers and sellers, our ability to grow our business and our results of operations may suffer.
If we fail to successfully expand our business model to encompass additional product verticals in a timely and cost-effective manner, our ability to increase our market share would suffer, which in turn could negatively impact our business, financial condition, and results of operations.
If we fail to maintain and promote our brand and reputation, our business, market position, and future growth could suffer.
If our marketing efforts are not effective, our ability to grow our business and maintain or expand our market share could suffer.
We rely on third parties to drive traffic to our website, and these providers may change their algorithms or pricing in ways that could damage our business, operations, financial condition, and prospects.
If the mobile solutions available to buyers and sellers are not effective, the use of our platform could decline.
We must continue to drive efficiencies in our operations or our business could suffer.
If we fail to manage our growth effectively, or if we are unable to execute our business plan and grow our business, our results of operations, and financial condition could be materially and adversely harmed.
We may require additional capital to support business growth, and we may be unable to obtain additional capital on acceptable terms, if at all, and any additional financing may dilute existing stockholders.
Our strategic initiatives to reduce our cost structure towards cash flow positive operations could have long-term adverse effects on our business operations, and we may not realize the operational or financial benefits from such actions, including achieving our cash flow positive operations.
Further expansion into markets outside of the United States is important to the growth of our business but will subject us to risks associated with operations abroad.
We may incur significant losses from fraud, which would harm our results of operations.
Our business depends on continued and unimpeded access to the Internet, mobile networks, and third-party services.
Any significant disruption in service provided by, or termination of our relationship with, third parties that host our website, mobile app, or process payments made by buyers to sellers on our online marketplace could damage our reputation and result in loss of buyers and sellers, which in turn would harm our business and results of operations.
Our payments system depends on third-party providers and is subject to evolving laws and regulations.
We rely on third-party payment processors to process payments made by buyers or to sellers on our online marketplace.
We rely on Amazon Web Services (AWS) for a substantial portion of the computing, storage, data processing, networking, and other services for our online marketplace. A significant disruption of or interference with our use of AWS would negatively impact our operations and seriously harm our business.
If our insurance coverage is insufficient or our insurers are unable to meet their obligations, our insurance may not mitigate the risks facing our business.
Our cash, cash equivalents and short-term investments may be exposed to failure of our banking institutions.
Risks Related to Human Capital
If we fail to attract and retain key personnel on our executive team or to effectively manage leadership succession, our business, financial condition, and results of operations could be adversely impacted.
If we fail to recruit and retain specialized employees and contractors, our business and operations could suffer.
If we experience labor disputes or other disruption, it could harm our operations.
Risks Related to Data Privacy and Cybersecurity, and Infrastructure
Our use and other processing of personal information and other data is subject to laws and obligations relating to privacy and data protection, and our failure to comply with such laws and obligations could harm our business.
If sensitive information about our buyers and sellers or other third parties with whom we transact business is disclosed, or if we or our third-party providers are subject to cyber-attacks, use of our online marketplace could be curtailed, we may be exposed to liability, and our reputation would suffer.
Use of social media, emails, phone calls, text messages, and push notifications may harm our reputation or subject us to fines or other penalties.
If the use of “cookie” tracking technologies is further restricted, regulated, or blocked, or if changes in technology cause cookies to become less reliable or acceptable as a means of tracking consumer behavior, the amount or accuracy of internet user information we collect would decrease, which could harm our business and operating results.
Climate change may have an adverse impact on our business.
Risks Related to Legal, Regulatory Matters and Litigation
If we fail to comply with applicable laws or regulations, including those relating to the sale of antique and vintage items, we may be subject to fines, penalties, loss of licensure, registration, and approval, or other governmental enforcement action.
We are subject to governmental export and import controls and anti-corruption laws and regulations that could impair our ability to compete in international markets and subject us to liability if we are not in full compliance with applicable laws.
Claims, lawsuits, government investigations, judgments, settlements, and other legal proceedings could adversely affect our business, financial condition, and results of operations.
Expanding and evolving regulations in the areas of privacy and user data protection could create technological, economic, and complex cross-border business impediments to our business and those of our sellers.
We are subject to increasingly stringent and evolving regulations governing online marketplaces in the United States and European Union. Failure to comply with laws such as the INFORM Consumers Act and the EU Digital Services Act could result in significant fines and operational disruptions.
Risks Related to Intellectual Property
If we cannot successfully protect our intellectual property, our business could suffer.
Intellectual property claims, which can be extremely costly to defend, could require us to pay significant damages and could limit our ability to use certain technologies in the future.
We are subject to the terms of open source licenses because our platform incorporates open source software.
Risks Related to our Operations as a Public Company
If our internal control over financial reporting or our disclosure controls and procedures are not effective, we may not be able to accurately report our financial results, prevent fraud or file our periodic reports in a timely manner, which may cause investors to lose confidence in our reported financial information and may lead to a decline in our stock price.
We are an emerging growth company, and any decision on our part to comply only with certain reduced reporting and disclosure requirements applicable to emerging growth companies could make our common stock less attractive to investors.
Our operations as a public company require substantial costs and substantial management attention, and we may not be able to manage our operations as a public company effectively or efficiently.
We are subject to regulatory compliance requirements, including Section 404 of the Sarbanes-Oxley Act, and if we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results or prevent fraud.
Risks Related to Tax and Accounting Matters
We could be required to pay or collect sales or income taxes in jurisdictions in which we do not currently do so, with respect to past or future sales. This could adversely affect our business and results of operations.
Our business and our sellers may be subject to sales tax, value-added tax (“VAT”), provincial taxes, goods and services tax, and other taxes.
Application of existing tax laws, rules or regulations are subject to interpretation by taxing authorities.
We may experience fluctuations in our tax obligations and effective tax rate.
Amendments to existing tax laws, rules, or regulations or enactment of new unfavorable tax laws, rules, or regulations could have an adverse effect on our business and results of operations.
Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
Our reported results of operations may be adversely affected by changes in generally accepted accounting principles.
Risks Related to Our Common Stock
The price of our common stock has in the past been, and in the future may be, volatile, and you may lose all or part of your investment.
Sales of a substantial number of shares of our common stock in the public market, such as the perception that sales might occur, could cause the price of our common stock to decline.
We cannot guarantee that our share repurchase program will be fully consummated or that it will enhance long-term stockholder value. Share repurchases could also increase the volatility of the trading price of our stock and will diminish our cash reserves.
Our actual results of operations may not meet our guidance and investor expectations, which would likely cause our stock price to decline.
If securities analysts or industry analysts do not publish reports about our business, downgrade our common stock, or publish negative research or reports, our stock price and trading volume could decline.
We do not intend to pay dividends on our common stock, so any returns on your investment will be limited to changes in the value of our common stock.
Our directors, executive officers and principal stockholders beneficially own a substantial percentage of our stock and will be able to exert significant control over matters subject to stockholder approval.
Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of our company more difficult, limit attempts by our stockholders to replace or remove our current management, and limit the market price of our common stock.
Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce cash resources.
Our amended and restated certificate of incorporation and amended and restated bylaws designate the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, and provides that federal district courts will be the sole and exclusive forum for Securities Act claims, which could limit our stockholders’ ability to obtain what they believe to be a favorable judicial forum for disputes with us or our directors, officers, or other employees.
Legal proceedings
From time to time, we are involved in legal proceedings and subject to claims arising both inside and outside the ordinary course of business. During the year ended December 31, 2025, the Company received a $1.4 million complaint from a trustee in a third-party bankruptcy proceeding seeking recovery of amounts paid for various purchases made on the Company’s platform after the commencement of the bankruptcy proceedings. This complaint is similar to hundreds of other similar cases commenced in connection with the bankruptcy proceeding, and we intend to defend against the trustee’s claim vigorously. The results of this claim, and other litigation and claims in the ordinary course, cannot be predicted with certainty, and the Company does not believe potential losses are estimable or probable at this time. Even if any particular litigation or claim is not resolved in a manner that is adverse to our interests, such litigation can have a negative impact on us because of defense and settlement costs, diversion of management resources from our business, and other factors.
