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REVENUE FROM CONTRACTS WITH CUSTOMERS
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERSRevenue from contracts with customers by the Company's six reportable operating segments and the All Other category during the three and six months ended months ended June 30, 2023 and 2022 was as follows:
Capital
Markets
Segment 		Wealth
Management
Segment		Auction and
Liquidation
Segment		Financial
Consulting
Segment		Communications SegmentConsumer
Segment		All OtherTotal
Revenues for the three months ended June 30, 2023
       
Corporate finance, consulting and investment banking fees $30,727 $— $— $19,144 $— $— $— $49,871 
Wealth and asset management fees 1,258 44,449 — — — — — 45,707 
Commissions, fees and reimbursed expenses 7,946 3,006 8,885 12,068 — — — 31,905 
Subscription services — — — — 82,183 — — 82,183 
Sale of goods— — 1,676 — 1,640 55,071 — 58,387 
Advertising, licensing and other— — — — 1,133 5,041 9,669 15,843 
Total revenues from contracts with customers 39,931 47,455 10,561 31,212 84,956 60,112 9,669 283,896 
       
Interest income - Loans and securities lending 75,199 — — — — — — 75,199 
Trading gains on investments 32,685 473 — — — — — 33,158 
Fair value adjustment on loans 9,207 — — — — — — 9,207 
Other 5,030 (212)— — — — — 4,818 
Total revenues $162,052 $47,716 $10,561 $31,212 $84,956 $60,112 $9,669 $406,278 
Capital
Markets
Segment		Wealth
Management
Segment		Auction and
Liquidation
Segment		Financial
Consulting
Segment		Communications SegmentConsumer
Segment		All OtherTotal
Revenues for the three months ended June 30, 2022
       
Corporate finance, consulting and investment banking fees $35,473 $— $— $15,646 $— $— $— $51,119 
Wealth and asset management fees 2,519 53,291 — — — — — 55,810 
Commissions, fees and reimbursed expenses 11,336 3,311 2,488 8,664 — — — 25,799 
Subscription services — — — — 37,809 — — 37,809 
Sale of goods— — — — 1,887 — — 1,887 
Advertising, licensing and other
— — — — 2,226 5,174 611 8,011 
Total revenues from contracts with customers 49,328 56,602 2,488 24,310 41,922 5,174 611 180,435 
       
Interest income - Loans and securities lending 62,399 — 1,436 — — — — 63,835 
Trading (losses) gains on investments (108,329)1,528 — — — — — (106,801)
Fair value adjustment on loans (10,962)— — — — — — (10,962)
Other 8,855 4,259 —  — — — 13,114 
Total revenues $1,291 $62,389 $3,924 $24,310 $41,922 $5,174 $611 $139,621 
Capital
Markets
Segment		Wealth
Management
Segment		Auction and
Liquidation
Segment		Financial
Consulting
Segment		Communications
Segment		Consumer
Segment		All OtherTotal
Revenues for the six months ended June 30, 2023
Corporate finance, consulting and investment banking fees$69,877 $— $— $33,659 $— $— $— $103,536 
Wealth and asset management fees1,922 87,759 — — — — — 89,681 
Commissions, fees and reimbursed expenses17,164 6,935 14,329 22,563 — — — 60,991 
Subscription services— — — — 165,190 — — 165,190 
Sale of goods— — 1,892 — 3,507 120,765 — 126,164 
Advertising, licensing and other
— — — — 3,178 9,350 18,942 31,470 
Total revenues from contracts with customers88,963 94,694 16,221 56,222 171,875 130,115 18,942 577,032 
Interest income - Loans and securities lending152,385 — — — — — — 152,385 
Trading gains on investments39,705 1,745 — — — — — 41,450 
Fair value adjustment on loans52,483 — — — — — — 52,483 
Other13,927 1,091 — — — — — 15,018 
Total revenues$347,463 $97,530 $16,221 $56,222 $171,875 $130,115 $18,942 $838,368 
Capital
Markets
Segment		Wealth
Management
Segment		Auction and
Liquidation
Segment		Financial
Consulting
Segment		Communications
Segment		Consumer
Segment		All OtherTotal
Revenues for the six months ended June 30, 2022
Corporate finance, consulting and investment banking fees$77,146 $— $— $32,616 $— $— $— $109,762 
Wealth and asset management fees 4,919 117,513 — — — — — 122,432 
Commissions, fees and reimbursed expenses 23,381 16,161 5,843 17,630 — — — 63,015 
Subscription services— — — — 65,622 — — 65,622 
Sale of goods— — — — 3,765 — — 3,765 
Advertising, licensing and other
— — — — 4,500 9,731 1,310 15,541 
Total revenues from contracts with customers105,446 133,674 5,843 50,246 73,887 9,731 1,310 380,137 
Interest income - Loans and securities lending123,825 — 1,436 — — — — 125,261 
Trading (losses) gains on investments(139,067)2,050 — — — — — (137,017)
Fair value adjustment on loans(24)— — — — — — (24)
Other13,960 4,144 — — — — — 18,104 
Total revenues$104,140 $139,868 $7,279 $50,246 $73,887 $9,731 $1,310 $386,461 
Contract Balances
The timing of the Company’s revenue recognition may differ from the timing of payment by its customers. The Company records a receivable when revenue is recognized prior to payment and the Company has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligation(s) are satisfied. Receivables related to revenues from contracts with customers totaled $118,927 and $149,110 as of June 30, 2023 and December 31, 2022, respectively. The Company had no significant impairments related to these receivables during the three and six months ended months ended June 30, 2023 and 2022. The Company also has $17,979 and $14,144 of unbilled receivables included in prepaid expenses and other assets as of June 30, 2023 and December 31, 2022, respectively. The Company’s deferred revenue primarily relates to retainer and milestone fees received from corporate finance and investment banking advisory engagements, asset management agreements, financial consulting engagements, subscription services where the performance obligation has not yet been satisfied and license agreements with guaranteed minimum royalty payments and advertising/marketing fees with additional royalty revenue based on a percentage of defined sales. Deferred revenue as of June 30, 2023 and December 31, 2022 was $77,089 and $85,441, respectively. The Company expects to recognize the deferred revenue of $77,089 as of June 30, 2023 as service and fee revenues when the performance obligation is met during the years ended December 31,
2023 (remaining six months), 2024, 2025, 2026 and 2027 in the amount of $50,260, $12,500, $6,764, $3,063, and $1,577, respectively. The Company expects to recognize the deferred revenue of $2,925 after December 31, 2027.
During the three months ended June 30, 2023 and 2022, the Company recognized revenue of $11,665 and $10,055 that was recorded as deferred revenue at the beginning of the respective year. During the six months ended June 30, 2023 and 2022, the Company recognized revenue of $34,167 and $24,994 that was recorded as deferred revenue at the beginning of the respective year.
Contract Costs
Contract costs include: (1) costs to fulfill contracts associated with corporate finance and investment banking engagements are capitalized where the revenue is recognized at a point in time and the costs are determined to be recoverable; (2) costs to fulfill Auction and Liquidation services contracts where the Company guarantees a minimum recovery value for goods being sold at auction or liquidation where the revenue is recognized over time when the performance obligation is satisfied; and (3) commissions paid to obtain magicJack contracts which are recognized ratably over the contract term and third party support costs for magicJack and related equipment purchased by customers which are recognized ratably over the service period.
The capitalized costs to fulfill a contract were $7,908 and $5,990 as of June 30, 2023 and December 31, 2022, respectively, and are recorded in prepaid expenses and other assets in the condensed consolidated balance sheets. For the three months ended June 30, 2023 and 2022, the Company recognized expenses of $1,258 and $175 related to capitalized costs to fulfill a contract, respectively. For the six months ended June 30, 2023 and 2022, the Company recognized expenses of $2,273 and $1,090 related to capitalized costs to fulfill a contract, respectively. There were no significant impairment charges recognized in relation to these capitalized costs during the three and six months ended months ended June 30, 2023 and 2022.
Remaining Performance Obligations and Revenue Recognized from Past Performance
The Company does not disclose information about remaining performance obligations pertaining to contracts that have an original expected duration of one year or less. The transaction price allocated to remaining unsatisfied or partially unsatisfied performance obligations with an original expected duration exceeding one year was not material as of June 30, 2023. Corporate finance and investment banking fees and retail liquidation engagement fees that are contingent upon completion of a specific milestone and fees associated with certain distribution services are also excluded as the fees are considered variable and not included in the transaction price as of June 30, 2023.