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v3.25.2

Segments (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Summary of Segment Information | The following tables reflect certain segment information for the three and six months ended June 30, 2025 and 2024 (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Segment Revenue |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 135,733 |  |  | $ | 112,166 |  |  | $ | 263,553 |  |  | $ | 215,529 |
International |  |  | 26,814 |  |  |  | 20,429 |  |  |  | 49,965 |  |  |  | 39,756 |
Total |  | $ | 162,547 |  |  | $ | 132,595 |  |  | $ | 313,518 |  |  | $ | 255,285 |
Segment Cost of Revenue |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 80,968 |  |  | $ | 67,036 |  |  | $ | 160,908 |  |  | $ | 129,966 |
International |  |  | 16,403 |  |  |  | 12,682 |  |  |  | 31,103 |  |  |  | 24,540 |
Total |  | $ | 97,371 |  |  | $ | 79,718 |  |  | $ | 192,011 |  |  | $ | 154,506 |
Segment Adjusted Operating Expense(1) |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 48,074 |  |  | $ | 45,065 |  |  | $ | 93,126 |  |  | $ | 91,164 |
International |  |  | 13,360 |  |  |  | 10,627 |  |  |  | 24,743 |  |  |  | 20,074 |
Total |  | $ | 61,434 |  |  | $ | 55,692 |  |  | $ | 117,869 |  |  | $ | 111,238 |
Other Segment Items(2) |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | (184 | ) |  | $ | (181 | ) |  | $ | (366 | ) |  | $ | (366 | )
International |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | (184 | ) |  | $ | (181 | ) |  | $ | (366 | ) |  | $ | (366 | )
Segment Adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 6,875 |  |  | $ | 246 |  |  | $ | 9,885 |  |  | $ | (5,235 | )
International |  |  | (2,949 | ) |  |  | (2,880 | ) |  |  | (5,881 | ) |  |  | (4,858 | )
Total Adjusted EBITDA |  | $ | 3,926 |  |  | $ | (2,634 | ) |  | $ | 4,004 |  |  | $ | (10,093 | )
(Add) deduct: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, interest and dividend income and other expenses |  |  | (16,373 | ) |  |  | 1,341 |  |  |  | (16,164 | ) |  |  | 2,497 |
Depreciation and amortization |  |  | (4,495 | ) |  |  | (3,256 | ) |  |  | (8,741 | ) |  |  | (6,409 | )
Amortization of lease intangible |  |  | (180 | ) |  |  | (180 | ) |  |  | (360 | ) |  |  | (360 | )
Benefit for income taxes |  |  | 8 |  |  |  | 10 |  |  |  | 8 |  |  |  | 10 |
Stock-based compensation |  |  | (7,895 | ) |  |  | (8,125 | ) |  |  | (15,237 | ) |  |  | (14,161 | )
Payroll tax expense related to stock-based compensation |  |  | (261 | ) |  |  | (780 | ) |  |  | (1,734 | ) |  |  | (780 | )
Acquisition and other |  |  | (676 | ) |  |  | — |  |  |  | (927 | ) |  |  | (686 | )
Charitable contribution of common stock |  |  | (614 | ) |  |  | (314 | ) |  |  | (1,130 | ) |  |  | (657 | )
Income from unconsolidated joint venture |  |  | 218 |  |  |  | 234 |  |  |  | 324 |  |  |  | 331 |
Restructuring charges |  |  | (95 | ) |  |  | — |  |  |  | (1,556 | ) |  |  | — |
Net Loss |  | $ | (26,437 | ) |  | $ | (13,704 | ) |  | $ | (41,513 | ) |  | $ | (30,308 | )
(1) Amount excludes stock-based compensation and the related payroll taxes, depreciation and amortization, restructuring charges, acquisition and other costs, amortization of lease intangible, lease termination and charitable contributions of common stock. (2) Addback to segment Cost of Revenue to calculate Segment Adjusted EBITDA The following tables reflect long-lived asset information as of June 30, 2025 and December 31, 2024 (in thousands):
|  | June 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Segment Property and equipment, net |  |  |  |  |  |
U.S. |  | $ | 41,667 |  |  | $ | 37,370 |
International |  |  | 9,525 |  |  |  | 7,455 |
Total |  | $ | 51,192 |  |  | $ | 44,825 |
Operating lease right-of-use assets |  |  |  |  |  |
U.S. |  | $ | 5,950 |  |  | $ | 7,728 |
International |  |  | 525 |  |  |  | 734 |
Total |  | $ | 6,475 |  |  | $ | 8,462 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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