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SEGMENT AND GEOGRAPHIC INFORMATION
 12 Months Ended
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,
202320222021
Revenue
Consumer$365,221 $295,583 $246,187 
Enterprise219,542 181,284 120,429 
Degrees51,001 46,889 48,671 
Total revenue$635,764 $523,756 $415,287 
Segment gross profit
Consumer$193,001 $214,305 $161,510 
Enterprise150,384 126,573 81,253 
Degrees51,001 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 expense2,593 3,089 2,092 
Amortization of internal-use software16,894 13,128 9,675 
Amortization of intangible assets2,994 2,600 2,184 
Total reconciling items64,615 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,
202320222021
United States$340,672 $276,011 $210,513 
Europe, Middle East, and Africa153,037 130,607 112,643 
Asia Pacific82,331 68,943 54,763 
Other59,724 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, 2023December 31, 2022
United States$34,047 $35,457 
Rest of World1,100 1,244 
Total$35,147 $36,701