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Discontinued Operations (Tables)
 9 Months Ended
Sep. 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

 

 

Nine-Month Period

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Net Revenue

 

$

-

 

 

$

-

 

 

$

-

 

 

$

378,868

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

 

-

 

 

 

-

 

 

 

-

 

 

 

341,503

 

Direct operating expenses

 

 

-

 

 

 

-

 

 

 

-

 

 

 

6,654

 

Selling, general and administrative expenses

 

 

-

 

 

 

1,139

 

 

 

28

 

 

 

24,248

 

Depreciation and amortization

 

 

-

 

 

 

-

 

 

 

-

 

 

 

3,958

 

Change in fair value of contingent consideration

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(12,568

)

Impairment charge

 

 

-

 

 

 

-

 

 

 

-

 

 

 

49,438

 

Foreign currency (gain) loss

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2,488

 

Other operating (gain) loss

 

 

-

 

 

 

125

 

 

 

-

 

 

 

45,139

 

Operating income (loss)

 

 

-

 

 

 

(1,264

)

 

 

(28

)

 

 

(81,992

)

Interest expense

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(219

)

Interest income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

731

 

Income (loss) from discontinued operations before income taxes

 

 

-

 

 

 

(1,264

)

 

 

(28

)

 

 

(81,480

)

Income tax benefit (expense)

 

 

-

 

 

 

125

 

 

 

-

 

 

 

770

 

Net income (loss) from discontinued operations before noncontrolling interests in discontinued operations

 

 

-

 

 

 

(1,139

)

 

 

(28

)

 

 

(80,710

)

Net (income) loss attributable to redeemable noncontrolling interest

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2,779

 

Net income (loss) from discontinued operations, net of tax

 

$

-

 

 

$

(1,139

)

 

$

(28

)

 

$

(77,931

)

The following table presents significant non-cash items and capital expenditures of discontinued operations for the periods presented:

 

Nine-Month Period

 

 

Ended September 30,

 

 

2025

 

 

2024

 

Depreciation and amortization

$

-

 

 

$

3,958

 

Impairment charge

$

-

 

 

$

49,438

 

Loss (gain) on the sale of assets/businesses

$

-

 

 

$

45,139

 

Change in fair value of contingent consideration

$

-

 

 

$

(12,568

)

Non-cash stock-based compensation

$

-

 

 

$

(544

)

Purchases of property and equipment

$

-

 

 

$

81