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Operating Segments | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Operating Segments | Note 15 — Operating Segments The Company's chief operating decision-maker (used in determining the Company's segments) is the chief executive officer and the chief financial officer. The Company operates in three segments: Research, Consulting, and Events. These segments, which are also the Company's reportable segments, are based on the management structure of the Company and how the chief operating decision maker uses financial information to evaluate performance and determine how to allocate resources. The Company’s products and services are delivered through each segment as described below. The Research segment includes the revenues from all of the Company’s research products as well as consulting revenues primarily from advisory services (such as speeches and advisory days) delivered by the Company’s research organization. Research segment costs include the cost of the organizations responsible for developing and delivering these products in addition to the costs of the product management organization responsible for product pricing and packaging, and the launch of new products. During the third quarter of 2024, the Company realigned the reporting structure of its technology teams and as such certain technology costs are no longer reported within the Research segment, and are now reported within the line selling, marketing, administrative and other expenses. Prior period amounts have been recast to conform to the current presentation. The Consulting segment includes the revenues and the related costs of the Company’s project consulting organization. The project consulting organization delivers a majority of the Company’s project consulting revenue. The Events segment includes the revenues and the costs of the organization responsible for developing and hosting the Company's events. The Company evaluates reportable segment performance and allocates resources based on segment revenues and expenses. Segment expenses include the direct expenses of each segment organization and exclude selling and marketing expenses, general and administrative expenses, stock-based compensation expense, depreciation expense, adjustments to incentive bonus compensation from target amounts, amortization of intangible assets, restructuring and related costs, loss from sale of divested operation, interest expense, and other income. The accounting policies used by the segments are the same as those used in the consolidated financial statements. The Company provides information by reportable segment in the tables below (in thousands):
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 77,070 |  |  | $ | — |  |  | $ | — |  |  | $ | 77,070 |
Consulting revenues |  |  | 4,335 |  |  |  | 19,034 |  |  |  | — |  |  |  | 23,369 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 2,088 |  |  |  | 2,088 |
Total segment revenues |  |  | 81,405 |  |  |  | 19,034 |  |  |  | 2,088 |  |  |  | 102,527 |
Segment expenses |  |  | (27,886 | ) |  |  | (9,580 | ) |  |  | (3,042 | ) |  |  | (40,508 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (57,634 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (2,404 | )
Restructuring and related costs |  |  |  |  |  |  |  |  |  |  |  | (937 | )
Loss from sale of divested operation |  |  |  |  |  |  |  |  |  |  |  | (1,775 | )
Interest expense and other income |  |  |  |  |  |  |  |  |  |  |  | (343 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  |  | $ | (1,074 | )
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 80,606 |  |  | $ | — |  |  | $ | — |  |  | $ | 80,606 |
Consulting revenues |  |  | 6,517 |  |  |  | 21,720 |  |  |  | — |  |  |  | 28,237 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 4,588 |  |  |  | 4,588 |
Total segment revenues |  |  | 87,123 |  |  |  | 21,720 |  |  |  | 4,588 |  |  |  | 113,431 |
Segment expenses |  |  | (30,089 | ) |  |  | (10,739 | ) |  |  | (4,031 | ) |  |  | (44,859 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (60,456 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (3,041 | )
Restructuring and related costs |  |  |  |  |  |  |  |  |  |  |  | (19 | )
Interest expense and other income |  |  |  |  |  |  |  |  |  |  |  | (195 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 4,861 |
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 237,314 |  |  | $ | — |  |  | $ | — |  |  | $ | 237,314 |
Consulting revenues |  |  | 14,478 |  |  |  | 56,843 |  |  |  | — |  |  |  | 71,321 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 15,794 |  |  |  | 15,794 |
Total segment revenues |  |  | 251,792 |  |  |  | 56,843 |  |  |  | 15,794 |  |  |  | 324,429 |
Segment expenses |  |  | (90,080 | ) |  |  | (29,181 | ) |  |  | (15,043 | ) |  |  | (134,304 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (171,985 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (7,431 | )
Restructuring and related costs |  |  |  |  |  |  |  |  |  |  |  | (7,643 | )
Loss from sale of divested operation |  |  |  |  |  |  |  |  |  |  |  | (1,775 | )
Interest expense and other income |  |  |  |  |  |  |  |  |  |  |  | 421 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 1,712 |
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 249,211 |  |  | $ | — |  |  | $ | — |  |  | $ | 249,211 |
Consulting revenues |  |  | 21,439 |  |  |  | 68,518 |  |  |  | — |  |  |  | 89,957 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 23,522 |  |  |  | 23,522 |
Total segment revenues |  |  | 270,650 |  |  |  | 68,518 |  |  |  | 23,522 |  |  |  | 362,690 |
Segment expenses |  |  | (94,477 | ) |  |  | (34,521 | ) |  |  | (16,186 | ) |  |  | (145,184 | )
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (187,987 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (9,175 | )
Restructuring and related costs |  |  |  |  |  |  |  |  |  |  |  | (12,140 | )
Interest expense and other income |  |  |  |  |  |  |  |  |  |  |  | (654 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 7,550 |

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- Definition The entire disclosure for reporting segments including data and tables. 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