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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Information |
Schedule of Revenue from External Customers By Segment | The following table presents revenue from external customers by segment (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ | 2023 | ​ | 2022 | ​ | 2023 | ​ | 2022
Continuing franchise fees | ​ | $ | 29,387 | ​ | $ | 31,619 | ​ | $ | 58,934 | ​ | $ | 62,739
Annual dues | ​ | ​ | 8,587 | ​ | ​ | 9,016 | ​ | ​ | 17,205 | ​ | ​ | 17,936
Broker fees | ​ | ​ | 14,321 | ​ | ​ | 19,317 | ​ | ​ | 25,213 | ​ | ​ | 34,402
Franchise sales and other revenue | ​ | ​ | 5,264 | ​ | ​ | 5,824 | ​ | ​ | 16,837 | ​ | ​ | 15,436
Total Real Estate | ​ | ​ | 57,559 | ​ | ​ | 65,776 | ​ | ​ | 118,189 | ​ | ​ | 130,513
Continuing franchise fees | ​ | ​ | 2,714 | ​ | ​ | 2,509 | ​ | ​ | 5,243 | ​ | ​ | 4,888
Franchise sales and other revenue | ​ | ​ | 902 | ​ | ​ | 606 | ​ | ​ | 1,561 | ​ | ​ | 1,255
Total Mortgage | ​ | ​ | 3,616 | ​ | ​ | 3,115 | ​ | ​ | 6,804 | ​ | ​ | 6,143
Marketing Funds fees | ​ | ​ | 21,077 | ​ | ​ | 22,909 | ​ | ​ | 42,419 | ​ | ​ | 45,760
Other | ​ | ​ | 195 | ​ | ​ | 372 | ​ | ​ | 436 | ​ | ​ | 760
Total revenue | ​ | $ | 82,447 | ​ | $ | 92,172 | ​ | $ | 167,848 | ​ | $ | 183,176
Schedule of Revenue and Adjusted EBITDA of the Company's Reportable Segment | The following table presents a reconciliation of Adjusted EBITDA by segment to income (loss) before provision for income taxes (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ | 2023 | ​ | 2022 | ​ | 2023 | ​ | 2022
Adjusted EBITDA: Real Estate | ​ | $ | 28,721 | ​ | $ | 36,331 | ​ | $ | 51,413 | ​ | $ | 67,010
Adjusted EBITDA: Mortgage | ​ | ​ | (1,457) | ​ | ​ | (1,164) | ​ | ​ | (4,054) | ​ | ​ | (3,337)
Adjusted EBITDA: Other | ​ | ​ | (620) | ​ | ​ | (36) | ​ | ​ | (795) | ​ | ​ | (62)
Adjusted EBITDA: Consolidated | ​ | ​ | 26,644 | ​ | ​ | 35,131 | ​ | ​ | 46,564 | ​ | ​ | 63,611
Impairment charge - leased assets (a) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (3,735)
Loss on lease termination (b) | ​ | ​ | — | ​ | ​ | (2,460) | ​ | ​ | — | ​ | ​ | (2,460)
Equity-based compensation expense | ​ | ​ | (4,708) | ​ | ​ | (4,535) | ​ | ​ | (9,159) | ​ | ​ | (10,172)
Acquisition-related expense (c) | ​ | ​ | (64) | ​ | ​ | (328) | ​ | ​ | (101) | ​ | ​ | (1,585)
Fair value adjustments to contingent consideration (d) | ​ | ​ | 95 | ​ | ​ | (1,710) | ​ | ​ | 99 | ​ | ​ | (1,995)
Restructuring charges | ​ | ​ | 72 | ​ | ​ | — | ​ | ​ | 33 | ​ | ​ | —
Other | ​ | ​ | (666) | ​ | ​ | (236) | ​ | ​ | (1,076) | ​ | ​ | (1,035)
Interest income | ​ | ​ | 1,141 | ​ | ​ | 159 | ​ | ​ | 2,145 | ​ | ​ | 178
Interest expense | ​ | ​ | (8,840) | ​ | ​ | (4,032) | ​ | ​ | (17,085) | ​ | ​ | (7,683)
Depreciation and amortization | ​ | ​ | (8,008) | ​ | ​ | (9,113) | ​ | ​ | (16,041) | ​ | ​ | (18,098)
Income (loss) before provision for income taxes | ​ | $ | 5,666 | ​ | $ | 12,876 | ​ | $ | 5,379 | ​ | $ | 17,026
(a) | Represents the impairment recognized on a portion of the Company’s corporate headquarters office building in the prior year. See Note 2, Summary of Significant Accounting Policies for additional information.
(b) | During the second quarter of 2022, a loss was recognized in connection with the termination of the booj office lease. See Note 2, Summary of Significant Accounting Policies for additional information.
(c) | Acquisition-related expense includes personnel, legal, accounting, advisory and consulting fees incurred in connection with the acquisition activities and integration of acquired companies.
(d) | Fair value adjustments to contingent consideration include amounts recognized for changes in the estimated fair value of the contingent consideration liabilities. See Note 8, Fair Value Measurements for additional information.

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