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SEGMENT AND GEOGRAPHIC INFORMATION | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
SEGMENT AND GEOGRAPHIC INFORMATION | 14. SEGMENT AND GEOGRAPHIC INFORMATION Segment Information Our chief operating decision maker (“CODM”) is our Chief Executive Officer. For the purposes of allocating resources and assessing performance, the CODM examines three segments which are our three revenue sources: Consumer, Enterprise, and Degrees. This is also consistent with how we disaggregate revenue. The Consumer segment targets individual learners seeking to obtain hands-on learning, gain valuable job skills, receive professional-level certifications, and otherwise increase their knowledge to start or advance their careers. The Enterprise segment is focused on serving businesses, governmental organizations, and academic institutions by providing an online platform with access to job-relevant educational content enabling them to train, upskill, and reskill their employees, citizens, and students, faculty, and staff, respectively. The Degrees segment is primarily engaged in partnering with universities to deliver fully online bachelor’s and master’s degrees. The CODM measures the performance of each segment primarily based on its revenue and gross profit. Segment gross profit, as presented below, is defined as segment revenue less certain costs of revenue that represent content costs paid to educator partners. Content costs only apply to the Consumer and Enterprise segments as there is no content cost attributable to the Degrees segment. Content costs are considered significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment gross profit. Expenses other than content costs included in cost of revenue are not allocated to segments because they are managed on an enterprise-wide basis. These unallocated costs include platform and support costs, stock-based compensation expense, and amortization of intangible assets and internal-use software. In addition, we do not allocate sales and marketing expenses, research and development expenses, and general and administrative expenses because the CODM does not consider this information in the measurement of each segment's performance. While we have three segments, our technology and operating platforms support the entire organization. The CODM does not use segment-level asset information to assess performance and make decisions regarding resource allocation, and we do not track our long-lived assets by segment. The geographic identification of these assets is set forth below. Financial information for each reportable segment was as follows:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Revenue |  |  |  |  |
Consumer | $ | 365,221 |  |  | $ | 295,583 |  |  | $ | 246,187 |
Enterprise | 219,542 |  |  | 181,284 |  |  | 120,429 |
Degrees | 51,001 |  |  | 46,889 |  |  | 48,671 |
Total revenue | $ | 635,764 |  |  | $ | 523,756 |  |  | $ | 415,287 |
Segment gross profit |  |  |  |  |
Consumer | $ | 193,001 |  |  | $ | 214,305 |  |  | $ | 161,510 |
Enterprise | 150,384 |  |  | 126,573 |  |  | 81,253 |
Degrees | 51,001 |  |  | 46,889 |  |  | 48,671 |
Total segment gross profit | $ | 394,386 |  |  | $ | 387,767 |  |  | $ | 291,434 |
Reconciliation of segment gross profit to gross profit |  |  |  |  |
Platform and support costs | $ | 42,134 |  |  | $ | 37,471 |  |  | $ | 28,014 |
Stock-based compensation expense | 2,593 |  |  | 3,089 |  |  | 2,092 |
Amortization of internal-use software | 16,894 |  |  | 13,128 |  |  | 9,675 |
Amortization of intangible assets | 2,994 |  |  | 2,600 |  |  | 2,184 |
Total reconciling items | 64,615 |  |  | 56,288 |  |  | 41,965 |
Gross profit | $ | 329,771 |  |  | $ | 331,479 |  |  | $ | 249,469 |
Geographic Information Revenue The following table summarizes the revenue by region based on the billing address of our customers:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
United States | $ | 340,672 |  |  | $ | 276,011 |  |  | $ | 210,513 |
Europe, Middle East, and Africa | 153,037 |  |  | 130,607 |  |  | 112,643 |
Asia Pacific | 82,331 |  |  | 68,943 |  |  | 54,763 |
Other | 59,724 |  |  | 48,195 |  |  | 37,368 |
Total | $ | 635,764 |  |  | $ | 523,756 |  |  | $ | 415,287 |
No single country other than the United States represented 10% or more of our total revenue during the years ended December 31, 2023, 2022, and 2021. Long-lived Assets The following table presents our long-lived assets, consisting of property, equipment, and software, net of depreciation and amortization, and operating lease ROU assets, by geographic region:
| December 31, 2023 |  | December 31, 2022
United States | $ | 34,047 |  |  | $ | 35,457 |
Rest of World | 1,100 |  |  | 1,244 |
Total | $ | 35,147 |  |  | $ | 36,701 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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