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New words:
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AG, AI, art, bad, began, Branch, broader, client, delivering, ease, enrolled, equally, equilibrium, escrow, field, government, high, inflow, insurance, letter, mobility, Monk, October, outflow, pandemic, production, reached, rebounded, recovery, representing, SAS, schedule, semiconductor, shortage, site, strongly, subjective, Suisse, thereof, variety, visual, volatility, work, worldwide, York
Financial report summary
?Management Discussion
- The increase was primarily driven by an increase in auction marketplace revenue from our buyers and sellers, as well as increases in revenue earned from arranging for the transportation of vehicles to buyers and an increase in revenue earned from the financing of vehicles sold on our marketplace. Revenue increases in the current quarter were primarily volume-driven. Additionally, we raised the buyer fees charged on our marketplace effective in September 2023 that further contributed to the increase in revenue year-over-year. For the three months ended March 31, 2024 compared to the three months ended March 31, 2023, auction marketplace revenue increased to $67.3 million from $54.0 million and other marketplace revenue increased to $54.6 million from $42.7 million. The increase in other marketplace revenue was