XML 34 R22.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Segment Information
6 Months Ended
Jun. 30, 2024
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 February 26, 2024. 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 June 30,Six months ended June 30,
2024202320242023
Revenue by reportable segment:
Digital Media$251,817 $252,870 $490,869 $487,081 
Cybersecurity and Martech68,984 73,196 144,436 146,212 
Elimination of inter-segment revenues (1)
(1)(50)(20)(135)
Total segment revenues320,800 326,016 635,285 633,158 
Corporate
— — — — 
Total revenues$320,800 $326,016 $635,285 $633,158 
Operating costs and expenses by reportable segment (2):
Digital Media216,798 216,154 424,245 421,896 
Cybersecurity and Martech57,437 59,679 113,480 121,092 
Elimination of inter-segment operating expenses(1)(50)(20)(135)
Total segment operating expenses274,234 275,783 537,705 542,853 
Corporate (3)
17,997 11,338 33,150 25,095 
Total operating costs and expenses292,231 287,121 570,855 567,948 
Operating income by reportable segment:
Digital Media operating income
35,019 36,716 66,624 65,185 
Cybersecurity and Martech operating income11,547 13,517 30,956 25,120 
Total segment operating income
46,566 50,233 97,580 90,305 
Corporate (3)
(17,997)(11,338)(33,150)(25,095)
Income from operations
$28,569 $38,895 $64,430 $65,210 
(1)Inter-segment revenues relate to the Digital Media reportable segment.
(2)Operating expenses for each segment include direct costs and other operating expenses that are directly attributable to the segment, such as employee compensation expense, sales and marketing expenses, engineering and network operations expense, depreciation and amortization, and other administrative expenses.
(3)Corporate includes costs associated with general, administrative, and other related costs that are managed on a global basis and that are not directly attributable to any particular segment.