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SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company has one reportable segment: Tutoring. The Tutoring Segment generates revenue by selling services to Learners and Institutions for one-on-one instruction and small group tutoring that are fulfilled by Experts, who deliver instruction on its behalf through its proprietary Live Learning Platform. The Company does not have intra-entity sales or transfers.
The Company’s CODM is the Chief Executive Officer of the Company, who evaluates the Company’s financial information and resources and assesses the performance of these resources on a consolidated basis. The Company’s CODM assesses performance of the Tutoring Segment and decides how to allocate resources based on consolidated net loss that also is reported in the Condensed Consolidated Statements of Operations as “Net Loss.” Consolidated net loss is used to monitor budget versus actual results in order to assess the performance of the Tutoring Segment. The measure of segment assets is reported on the Condensed Consolidated Balance Sheets as “Total Assets.” The segment additions to property are reported in the Condensed Consolidated Statements of Cash Flows as “Capital expenditures.”
Substantially all of the Company’s tangible long-lived assets and revenues are located within the U.S. The Company does not have a customer that accounted for more than 10% of its consolidated net sales. See Note 4 for the Company’s revenue by business.
The following table presents information about the Company’s Tutoring Segment for the periods presented.
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Revenue$45,263 $50,984 $92,858 $104,711 
Less:
Cost of revenue17,421 17,497 37,405 34,709 
Employee-related expense (excluding product and development expense)
19,037 23,391 39,519 45,548 
Marketing expense
6,788 8,192 15,219 19,134 
Product and development expense10,683 11,569 21,417 22,232 
Depreciation and amortization of intangible assets
290 383 614 781 
Other segment items (a)3,336 5,191 7,561 10,424 
Interest income
(365)(879)(827)(1,765)
Income tax expense74 38 102 61 
Segment Net Loss$(12,001)$(14,398)$(28,152)$(26,413)
(a)Other segment items consists of tutor acquisition costs, professional services expense, restructuring expense, rent expense, and other overhead expense.