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Discontinued Operations (Tables) | 9 Months Ended
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Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | The table below sets forth the income (loss) from discontinued operations:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenue (1) | $ | — |  |  | $ | 45 |  |  | $ | 45,107 |  |  | $ | 22,297 |
Cost of revenue (2) | — |  |  | 160 |  |  | (1,367) |  |  | 15,006 |
Gross profit (loss) | — |  |  | (115) |  |  | 46,474 |  |  | 7,291 |
Operating expenses: |  |  |  |  |  |  |
Selling and marketing (2) | — |  |  | 140 |  |  | (805) |  |  | 12,142 |
General and administrative (3) | — |  |  | 567 |  |  | (48,971) |  |  | 46,060 |
Depreciation and amortization | — |  |  | — |  |  | — |  |  | 2,401 |
Loss on impairment of assets (4) | — |  |  | — |  |  | — |  |  | 39,391 |
Total operating expenses (income) | — |  |  | 707 |  |  | (49,776) |  |  | 99,994 |
Income (loss) from discontinued operations | — |  |  | (822) |  |  | 96,250 |  |  | (92,703) |
Income tax provision | — |  |  | — |  |  | — |  |  | (6) |
Net income (loss) from discontinued operations | $ | — |  |  | $ | (822) |  |  | $ | 96,250 |  |  | $ | (92,709) |
(1) Revenue for the nine months ended September 30, 2025 includes the derecognition of SI business related liabilities of $45,107 for which the Company has no remaining obligations. (2) Cost of revenue and selling and marking expenses for the nine months ended September 30, 2025, include adjustments to previously reported accounts payable that were settled for a reduced amount. (3) General and administrative expenses for the nine months ended September 30, 2025, includes the derecognition of SI business related liabilities, including a $45,000 termination fee liability (recorded in the nine months ended September 30, 2024), a $3,750 royalty fee liability and $221 of previously reported accounts payable that was settled for a reduced amount. (4) Loss on impairment of assets for the nine months ended September 30, 2024 of $39,391 includes $8,601 for the impairment of intangible assets and $30,790 for the impairment of subscription acquisition costs. The table below sets forth the major classes of liabilities of the discontinued operations:
| As of
| September 30, 2025 |  | December 31, 2024
Liabilities |  |  |
Accounts payable | $ | — |  |  | $ | 1,783 |
Accrued expenses and other | — |  |  | 519 |
Subscription refund liability | — |  |  | 423 |
Royalty fee liability (1) | — |  |  | 3,750 |
Termination fee liability (1) | — |  |  | 45,000 |
Subscription liability | — |  |  | 44,684 |
Current/total liabilities from discontinued operations | $ | — |  |  | $ | 96,159 |
(1) Further details related to the royalty fee liability of $3,750 and termination fee liability of $45,000 are described under the heading ABG Group Legal Matters in Note 18. The table below sets forth the cash flows of the discontinued operations:
| Nine Months Ended September 30,
| 2025 |  | 2024
Cash flows from operating activities from discontinued operations |  |  |
Net income (loss) from discontinued operations | $ | 96,250 |  |  | $ | (92,709) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |
Amortization of intangible assets | — |  |  | 2,401 |
Loss on impairment of assets | — |  |  | 39,391 |
Stock-based compensation | — |  |  | 592 |
Change in operating assets and liabilities: |  |  |
Accounts receivable, net | — |  |  | 12,046 |
Bad debt expense | — |  |  | 561 |
Subscription acquisition costs | — |  |  | 6,131 |
Prepayments and other current assets | — |  |  | 807 |
Accounts payable | (1,783) |  |  | 3,190 |
Accrued expenses and other | (519) |  |  | 59 |
Subscription refund liability | (423) |  |  | 20 |
Subscription liability | (44,684) |  |  | (7,701) |
Royalty fee liability | (3,750) |  |  | — |
Termination fee liability | (45,000) |  |  | 45,000 |
Net cash provided by operating activities from discontinued operations | $ | 91 |  |  | $ | 9,788 |

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