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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
Our Chief Executive Officer, as the Chief Operating Decision Maker, or CODM, organizes our company, manages resource allocations, and measures performance on the basis of one operating segment on a consolidated basis. The accounting policies of our operating segment are the same as those described in Note 2, Summary of Significant Accounting Policies. The CODM assesses performance for the segment and decides how to allocate resources based on net income (loss) that also is reported on the accompanying consolidated statements of operations as consolidated net income (loss). The measure of segment assets is reported on the accompanying consolidated balance sheets as total assets.
The CODM uses net income (loss) to evaluate income generated from segment assets in making key operating and segment resource allocation decisions, such as investments in new product development. Net income (loss) is also used to monitor budget versus actual results and to establish management’s compensation.
The Company has one reportable segment which provides online platform for business formation in the United States, or U.S., and, as described in Note 2, Summary of Significant Accounting Policies, generates revenue from customized legal document services and subscriptions offered to our customers. Revenue outside of the U.S., based on the location of the customer, represented less than 1% of our revenue for the years ended December 31, 2024, 2023 and 2022. Our property and equipment and right-of-use, or ROU, assets located outside of the U.S. were immaterial as of December 31, 2024 and 2023.
The following table summarizes financial information by reportable segment regularly provided to the CODM (in thousands):

Year Ended December 31,
202420232022
Transaction Revenue$245,692 $247,780 $260,781 
Subscription Revenue$436,189 $412,947 $359,198 
Total revenue$681,881 $660,727 $619,979 
Less:
Filings fees$83,269 $88,103 $74,059 
Other cost of revenue, excluding depreciation, amortization and stock-based compensation$132,089 $134,070 $125,524 
Customer acquisition marketing$157,578 $145,338 $174,636 
Other sales and marketing, excluding depreciation, amortization and stock-based compensation$38,293 $54,152 $72,090 
Year Ended December 31,
202420232022
Technology and development, excluding depreciation, amortization and stock-based compensation$62,323 $60,098 $51,026 
General and administrative, excluding depreciation, amortization, stock-based compensation, and restructuring$60,215 $61,843 $60,126 
Stock-based compensation$71,510 $66,015 $80,469 
Depreciation and amortization$34,927 $25,383 $21,745 
Interest income$(7,850)$(9,307)$(1,803)
Interest expense$446 $493 $260 
Restructuring(1)
$6,096 $4,666 $1,795 
Other segment items(2)
$(98)$(1,621)$4,477 
Provision for income taxes$13,120 $17,541 $1,060 
Impairment of long-lived assets$— $— $248 
Impairment of other equity security$— $— $3,000 
Segment net income (loss)$29,963 $13,953 $(48,733)
Reconciliation of profit or loss
Adjustments and reconciling items$— $— $— 
Consolidated net income (loss)$29,963 $13,953 $(48,733)
(1)     For 2024, restructuring costs related to the reduction of our global workforce. For 2023, restructuring costs related to the reduction of our U.S. and U.K. headcount. For 2022, restructuring expenses related to a phased severance event to reduce the U.S. headcount in June and August 2022. Restructuring expenses include salary and benefits for the impacted employees and are included in general and administrative expenses in the consolidated statements of operations.
(2)    Other segment items included in segment net income (loss) primarily consist of foreign currency gains or losses related to our intercompany loans which were denominated in British Pound Sterling, or GBP, and included in other income (expense), net on the consolidated statements of operations.