XML 29 R20.htm IDEA: XBRL DOCUMENT v3.23.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The segment information reported in the tables below reflects the operating results that are regularly reviewed by our chief operating decision maker to assess performance and make resource allocation decisions. Our operations are organized into two segments: North America and International. Our measure of segment profitability is contribution profit, defined as gross profit less marketing expense, which is consistent with how management reviews the operating results of the segments. Contribution profit measures the amount of marketing investment needed to generate gross profit. Other operating expenses are excluded from contribution profit as management does not review those expenses by segment.
The following table summarizes revenue by reportable segment and category for the three months ended March 31, 2023 and 2022 (in thousands):    
Three Months Ended March 31,
20232022
North America revenue:
Local$81,379 $96,921 
Goods5,065 8,294 
Travel2,815 4,949 
Total North America revenue (1)
89,259 110,164 
International revenue:
Local25,265 33,150 
Goods4,246 6,779 
Travel2,841 3,227 
Total International revenue (1)
$32,352 $43,156 
(1)North America includes revenue from the United States of $87.7 million and $108.8 million for the three months ended March 31, 2023 and 2022. There were no other individual countries that represented more than 10% of consolidated total revenue for the three months ended March 31, 2023 and 2022. Revenue is attributed to individual countries based on the location of the customer.
The following table summarizes cost of revenue by reportable segment and category for the three months ended March 31, 2023 and 2022 (in thousands):
Three Months Ended March 31,
20232022
North America cost of revenue:
Local$11,387 $13,163 
Goods945 1,459 
Travel985 1,295 
Total North America cost of revenue13,317 15,917 
International cost of revenue:
Local2,623 2,596 
Goods588 396 
Travel372 410 
Total International cost of revenue$3,583 $3,402 
The following table summarizes contribution profit by reportable segment for the three months ended March 31, 2023 and 2022 (in thousands):
Three Months Ended March 31,
20232022
North America
Revenue$89,259 $110,164 
Cost of revenue13,317 15,917 
Marketing15,303 27,991 
Contribution profit60,639 66,256 
International
Revenue32,352 43,156 
Cost of revenue3,583 3,402 
Marketing9,545 11,425 
Contribution profit19,224 28,329 
Consolidated
Revenue121,611 153,320 
Cost of revenue16,900 19,319 
Marketing24,848 39,416 
Contribution profit79,863 94,585 
Selling, general and administrative101,634 126,420 
Restructuring and related charges8,794 312 
Income (loss) from operations$(30,565)$(32,147)
The following table summarizes total assets by reportable segment as of March 31, 2023 and December 31, 2022 (in thousands):
March 31, 2023December 31, 2022
Total assets:
North America (1)
$526,953 $669,336 
International (1)
123,690 123,781 
Consolidated total assets$650,643 $793,117 
(1)North America contains assets from the United States of $520.9 million and $661.3 million as of March 31, 2023 and December 31, 2022. International contains assets from the Netherlands of $65.1 million as of March 31, 2023. There were no other individual countries that represented more than 10% of consolidated total assets as of March 31, 2023 and December 31, 2022.