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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Summary of Information Related to Discontinued Operations | The following table summarizes the results of discontinued operations, net of tax (in thousands):
|  | Three-Month Period |  |  | Six-Month Period |
|  | Ended June 30, |  |  | Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Net Revenue |  | $ | - |  |  | $ | 179,599 |  |  | $ | - |  |  | $ | 378,868 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenue |  |  | - |  |  |  | 160,932 |  |  |  | - |  |  |  | 341,503 |
Direct operating expenses |  |  | - |  |  |  | 2,883 |  |  |  | - |  |  |  | 6,654 |
Selling, general and administrative expenses |  |  | (163 | ) |  |  | 10,748 |  |  |  | 28 |  |  |  | 23,109 |
Depreciation and amortization |  |  | - |  |  |  | 1,564 |  |  |  | - |  |  |  | 3,958 |
Change in fair value of contingent consideration |  |  | - |  |  |  | (11,368 | ) |  |  | - |  |  |  | (12,568 | )
Impairment charge |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 49,438 |
Foreign currency (gain) loss |  |  | - |  |  |  | 2,304 |  |  |  | - |  |  |  | 2,488 |
Other operating (gain) loss |  |  | - |  |  |  | 45,014 |  |  |  | - |  |  |  | 45,014 |
Operating income (loss) |  |  | 163 |  |  |  | (32,478 | ) |  |  | (28 | ) |  |  | (80,728 | )
Interest expense |  |  | - |  |  |  | (103 | ) |  |  | - |  |  |  | (219 | )
Interest income |  |  | - |  |  |  | 179 |  |  |  | - |  |  |  | 731 |
Income (loss) from discontinued operations before income taxes |  |  | 163 |  |  |  | (32,402 | ) |  |  | (28 | ) |  |  | (80,216 | )
Income tax benefit (expense) |  |  | - |  |  |  | (3,010 | ) |  |  | - |  |  |  | 645 |
Net income (loss) from discontinued operations before noncontrolling interests in discontinued operations |  |  | 163 |  |  |  | (35,412 | ) |  |  | (28 | ) |  |  | (79,571 | )
Net (income) loss attributable to redeemable noncontrolling interest |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,779 |
Net income (loss) from discontinued operations, net of tax |  | $ | 163 |  |  | $ | (35,412 | ) |  | $ | (28 | ) |  | $ | (76,792 | )
The following table presents significant non-cash items and capital expenditures of discontinued operations for the periods presented:
| Six-Month Period |
| Ended June 30, |
| 2025 |  |  | 2024 |
Depreciation and amortization | $ | - |  |  | $ | 3,958 |
Impairment charge | $ | - |  |  | $ | 49,438 |
Loss (gain) on the sale of assets/businesses | $ | - |  |  | $ | 45,014 |
Change in fair value of contingent consideration | $ | - |  |  | $ | (12,568 | )
Non-cash stock-based compensation | $ | - |  |  | $ | (544 | )
Purchases of property and equipment | $ | - |  |  | $ | 81 |

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