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Segment Information | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Segment Information | 5. SEGMENT INFORMATION The Company’s management has determined that the Company operates in three reportable segments as of March 31, 2024, based upon the type of advertising medium, which segments are digital, television and audio. The Company’s segments results reflect information presented on the same basis that is used for internal management reporting and it is also how the chief operating decision maker, who is the Company's Chief Executive Officer ("CEO"), evaluates the business. Segment operating profit (loss) is defined as operating profit (loss) before corporate expenses, change in fair value of contingent consideration, impairment charge, other operating (gain) loss, and foreign currency (gain) loss. The Company generated 79% and 80% of its revenue outside the United States during the three-month periods ended March 31, 2024 and 2023, respectively. The accounting policies applied to determine the segment information are generally the same as those described in the summary of significant accounting policies (see Note 2). The Company evaluates the performance of its operating segments based on separate financial data for each operating segment as provided below (in thousands):
|  | Three-Month Period |  |  |  |
|  | Ended March 31, |  |  | % |
|  | 2024 |  |  | 2023 |  |  | Change |
Net revenue |  |  |  |  |  |  |  |  |
Digital |  | $ | 237,491 |  |  | $ | 196,482 |  |  |  | 21 | %
Television |  |  | 28,549 |  |  |  | 30,312 |  |  |  | (6 | )%
Audio |  |  | 11,405 |  |  |  | 12,212 |  |  |  | (7 | )%
Consolidated |  |  | 277,445 |  |  |  | 239,006 |  |  |  | 16 | %
Cost of revenue - digital |  |  | 203,229 |  |  |  | 167,756 |  |  |  | 21 | %
Direct operating expenses |  |  |  |  |  |  |  |  |
Digital |  |  | 10,729 |  |  |  | 8,010 |  |  |  | 34 | %
Television |  |  | 16,928 |  |  |  | 14,759 |  |  |  | 15 | %
Audio |  |  | 7,915 |  |  |  | 7,093 |  |  |  | 12 | %
Consolidated |  |  | 35,572 |  |  |  | 29,862 |  |  |  | 19 | %
Selling, general and administrative expenses |  |  |  |  |  |  |  |  |
Digital |  |  | 17,348 |  |  |  | 13,529 |  |  |  | 28 | %
Television |  |  | 6,040 |  |  |  | 5,340 |  |  |  | 13 | %
Audio |  |  | 3,307 |  |  |  | 3,899 |  |  |  | (15 | )%
Consolidated |  |  | 26,695 |  |  |  | 22,768 |  |  |  | 17 | %
Depreciation and amortization |  |  |  |  |  |  |  |  |
Digital |  |  | 3,846 |  |  |  | 3,631 |  |  |  | 6 | %
Television |  |  | 2,926 |  |  |  | 2,658 |  |  |  | 10 | %
Audio |  |  | 361 |  |  |  | 182 |  |  |  | 98 | %
Consolidated |  |  | 7,133 |  |  |  | 6,471 |  |  |  | 10 | %
Segment operating profit (loss) |  |  |  |  |  |  |  |  |
Digital |  |  | 2,339 |  |  |  | 3,556 |  |  |  | (34 | )%
Television |  |  | 2,655 |  |  |  | 7,555 |  |  |  | (65 | )%
Audio |  |  | (178 | ) |  |  | 1,038 |  |  | * |
Consolidated |  |  | 4,816 |  |  |  | 12,149 |  |  |  | (60 | )%
Corporate expenses |  |  | 12,248 |  |  |  | 10,502 |  |  |  | 17 | %
Change in fair value of contingent consideration |  |  | (1,420 | ) |  |  | (4,065 | ) |  |  | (65 | )%
Impairment charge |  |  | 49,438 |  |  |  | - |  |  | * |
Foreign currency (gain) loss |  |  | 449 |  |  |  | (956 | ) |  | * |
Operating income (loss) |  |  | (55,899 | ) |  |  | 6,668 |  |  | * |
Interest expense |  | $ | (4,559 | ) |  | $ | (4,028 | ) |  |  | 13 | %
Interest income |  |  | 1,130 |  |  |  | 860 |  |  |  | 31 | %
Dividend income |  |  | 10 |  |  |  | 18 |  |  |  | (44 | )%
Realized gain (loss) on marketable securities |  |  | (113 | ) |  |  | (32 | ) |  |  | 253 | %
Gain (loss) on debt extinguishment |  |  | (40 | ) |  |  | (1,556 | ) |  |  | (97 | )%
Income (loss) before income taxes |  |  | (59,471 | ) |  |  | 1,930 |  |  | * |
Capital expenditures |  |  |  |  |  |  |  |  |
Digital |  | $ | 181 |  |  | $ | 1,111 |  |  |  |
Television |  |  | 1,468 |  |  |  | 7,336 |  |  |  |
Audio |  |  | 524 |  |  |  | 103 |  |  |  |
Consolidated |  | $ | 2,173 |  |  | $ | 8,550 |  |  |  |
|  | March 31, |  |  | December 31, |  |  |  |
Total assets |  | 2024 |  |  | 2023 |  |  |  |
Digital |  |  | 361,238 |  |  |  | 425,624 |  |  |  |
Television |  |  | 347,828 |  |  |  | 342,818 |  |  |  |
Audio |  |  | 95,924 |  |  |  | 97,504 |  |  |  |
Consolidated |  | $ | 804,990 |  |  | $ | 865,946 |  |  |  |
* Percentage not meaningful.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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