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Segment Information
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s businesses are based on the organizational structure used by the chief operating decision maker (“CODM”). The Company aggregates its operating segments into two reportable segments: Digital Media and Cybersecurity and Martech.
The accounting policies of the businesses are the same as those described in the Company’s Annual Report on Form 10-K filed with the SEC on March 1, 2023. The Company evaluates performance based on revenue and profit or loss from operations.
Information on reportable segments and reconciliation to income from operations is as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2023202220232022
Revenue by reportable segment:
Digital Media$267,951 $263,896 $755,032 $757,423 
Cybersecurity and Martech73,051 78,192 219,263 237,596 
Elimination of inter-segment revenues(17)(215)(152)(722)
Total revenues$340,985 $341,873 $974,143 $994,297 
Operating costs and expenses by reportable segment (2):
Digital Media280,856 236,579 702,752 653,363 
Cybersecurity and Martech60,541 64,362 181,633 198,861 
Elimination of inter-segment operating expenses(17)(215)(152)(722)
Total segment operating expenses341,380 300,726 884,233 851,502 
Corporate (1)
12,924 12,113 38,019 37,312 
Total operating costs and expenses354,304 312,839 922,252 888,814 
Operating (loss) income by reportable segment:
Digital Media operating (loss) income
(12,905)27,317 52,280 104,060 
Cybersecurity and Martech operating income12,510 13,830 37,630 38,735 
Total segment operating (loss) income
(395)41,147 89,910 142,795 
Corporate (1)
(12,924)(12,113)(38,019)(37,312)
(Loss) income from operations
$(13,319)$29,034 $51,891 $105,483 
(1)Corporate includes costs associated with general and administrative and other expenses that are managed on a global basis and that are not directly attributable to any particular segment.
(2)Operating expenses for each segment include cost of sales and other operating expenses that are directly attributable to the segment, such as employee compensation expense, local sales and marketing expenses, engineering and network operations expense, depreciation and amortization, and other administrative expenses. For the three and nine months ended September 30, 2023 and 2022, the Company had an impairment to goodwill within operating costs and expenses for Digital Media.