XML 27 R17.htm IDEA: XBRL DOCUMENT v3.25.1
Segments and Geographic Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segments Segments and Geographic Information
The Company has one operating segment as of March 31, 2025 and 2024, the streaming business.
The following tables set forth our financial performance by geographical location (in thousands):
Total long-lived assets and rights-of-use assets
March 31, 2025December 31, 2024
United States158,850 165,481 
Rest of world5,770 6,139 
Total revenue
Three Months Ended
March 31,
20252024
United States$399,266 $386,783 
Rest of world17,020 15,564 
Total revenue$416,286 $402,347 
The Company’s method for measuring profitability includes gross profit and net loss from continuing operations, which the CODM uses to assess performance and make decisions for resource allocation. Gross Profit is defined as revenue less subscriber related expenses and broadcasting and transmission. Net income (loss) from continuing operations is consistent with the measurement principals for net income (loss) from continuing operations as reported on the Company’s consolidated statement of operations and comprehensive income (loss).
The following table provides the significant expenses and gross profit with a reconciliation to net income (loss) from continuing operations for the periods indicated, which are regularly reviewed by the CODM (in thousands):
Three Months Ended
March 31,
20252024
Total revenue$416,286 $402,347 
Gross profit (1)
69,231 27,677 
Significant expenses:
Sales and marketing (2)
40,004 38,473 
Technology and development (2)
16,865 16,162 
General and administrative (2)
24,480 14,196 
Other segment (income) expenses (3)(200,606)15,175 
Net income (loss) from continuing operations
188,488 (56,329)
(1) Gross profit is calculated as total revenue less Subscriber related expenses and Broadcasting and transmission expenses.
(2) Sales and marketing, Technology and development, and General and administrative expense categories regularly provided to the CODM exclude stock-based compensation.
(3) Other segment expenses include depreciation and amortization, impairment of other assets, stock-based compensation expense, interest expense, interest income, amortization of debt premium, net, gain on settlement of litigation, net, other income (expense) and provision for income taxes.