eBay Inc.

“Founded in 1995 in San Jose, California, eBay Inc. is a global commerce leader that connects people and builds communities to create economic opportunity for all.”

“We have one reportable segment, which reflects how the chief operating decision maker, our President and Chief Executive Officer, reviews and assesses performance of the business.”

“to enable sellers’ access to eBay’s 135 million buyers worldwide”

“We earn revenue primarily through fees collected on paid transactions, first-party advertising and shipping.”

“particularly within our Focus Categories, such as motor vehicles parts and accessories, collectibles, refurbished items, apparel, luxury goods and sneakers”

“we continue to expand AI across the listing workflow, using Generative AI (“Gen AI”) to prefill item details, generate optimized titles and descriptions and in some cases recognize product images”

“including Seller Capital, which has helped our partners provide more than $1 billion in cumulative funding since inception to small businesses”

“The eBay Money Back Guarantee program allows buyers to obtain a refund if an item does not arrive, is damaged or faulty, or differs materially from its description”

“Revenues are attributed to the United States and international geographies primarily based upon the country in which the customer is located.”

“Marketplace revenues (1) $9,107 5 %$8,648 — %$8,669 Advertising revenues (1) 1,993 22 %1,635 13 %1,443 Net revenues $11,100 8 %$10,283 2 %$10,112”

“we entered into a definitive agreement to acquire Depop, Inc., a leading C2C fashion marketplace focused on recommerce with a highly-engaged Gen Z and Millennial customer base, for approximately $1.2 billion in cash”

“offset pressure in discretionary spending across our three largest markets primarily resulting from geopolitical events, inflationary pressure, foreign exchange rate volatility, elevated interest rates and lower consumer confidence.”

“we have evolved our strategic focus around three foundational pillars — Relevant Experiences, Scalable Solutions and Magical Innovations”

“Operating margin decreased to 20.5% compared to 22.5% in 2024 primarily due to higher non-recurring general and administrative expenses related to legal matters and restructuring and higher costs associated with our shipping programs.”

“We issued $1.0 billion aggregate principal amount of senior notes consisting of $600 million aggregate principal amount of 4.250% fixed rate notes due 2029 and $400 million aggregate principal amount of 5.125% fixed rate notes due 2035.”

“Improvement was driven by cross-category shopping, horizontal innovation, country-specific initiatives and growth in recommerce.”

“authorized an incremental $2.0 billion under our stock repurchase program in addition to the $5.0 billion previously authorized in 2024”

“Some of our competitors, such as Alibaba, Alphabet (Google), Amazon, Apple and Meta (Facebook and Instagram), are larger than we are”

“Cross-border trade is an important source of revenue and profit for us, and changes to global trade policies can significantly impact our customers and materially harm our business.”

“in 2014 we experienced a significant data breach involving unauthorized access to a database containing records of up to 145 million users”

“We rely on third-party service providers to perform services, including, among others, credit card processing, payment disbursements, currency exchange, identity verification, sanctions screening, and fraud analysis and detection.”

“The application of indirect taxes such as sales and use tax, value-added tax (“VAT”), goods and services tax (including the “digital services tax”), business tax, withholding tax and gross receipt tax, and tax information reporting obligations to businesses like ours and to our sellers and buyers is a complex and evolving issue.”

“We have substantial indebtedness and we cannot guarantee that we will always generate sufficient cash flow to service our existing and future indebtedness.”

“Our payments system is susceptible to illegal uses, including money laundering, terrorist financing, fraud and payments to sanctioned parties.”