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REVENUE FROM CONTRACTS WITH CUSTOMERS
 9 Months Ended
Sep. 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 nine months ended September 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 September 30, 2023
       
Corporate finance, consulting and investment banking fees $67,429 $— $— $23,580 $— $— $— $91,009 
Wealth and asset management fees 1,958 47,333 — — — — — 49,291 
Commissions, fees and reimbursed expenses 7,495 1,669 12,488 13,780 — — — 35,432 
Subscription services — — — — 80,713 — — 80,713 
Sale of goods— — 65,117 — 1,638 58,391 — 125,146 
Advertising, licensing and other— — — — 1,442 4,304 9,928 15,674 
Total revenues from contracts with customers 76,882 49,002 77,605 37,360 83,793 62,695 9,928 397,265 
       
Interest income - Loans and securities lending 69,731 — — — — — — 69,731 
Trading (losses) gains on investments (10,218)490 — — — — — (9,728)
Fair value adjustment on loans (859)— — — — — — (859)
Other 4,030 1,873 — — — — — 5,903 
Total revenues $139,566 $51,365 $77,605 $37,360 $83,793 $62,695 $9,928 $462,312 
Capital
Markets
Segment		Wealth
Management
Segment		Auction and
Liquidation
Segment		Financial
Consulting
Segment		Communications SegmentConsumer
Segment		All OtherTotal
Revenues for the three months ended September 30, 2022
       
Corporate finance, consulting and investment banking fees $41,302 $— $— $12,342 $— $— $— $53,644 
Wealth and asset management fees 3,280 44,322 — — — — — 47,602 
Commissions, fees and reimbursed expenses 8,827 1,728 1,949 10,493 — — — 22,997 
Subscription services — — — — 70,152 — — 70,152 
Sale of goods— — 2,550 — 1,580 — — 4,130 
Advertising, licensing and other
— — — — 2,092 5,023 4,072 11,187 
Total revenues from contracts with customers 53,409 46,050 4,499 22,835 73,824 5,023 4,072 209,712 
       
Interest income - Loans and securities lending 55,054 — 2,540 — — — — 57,594 
Trading gains on investments 11,216 1,027 — — — — — 12,243 
Fair value adjustment on loans (19,160)— — — — — — (19,160)
Other 50,633 1,095 —  — — — 51,728 
Total revenues $151,152 $48,172 $7,039 $22,835 $73,824 $5,023 $4,072 $312,117 
Capital
Markets
Segment		Wealth
Management
Segment		Auction and
Liquidation
Segment		Financial
Consulting
Segment		Communications
Segment		Consumer
Segment		All OtherTotal
Revenues for the nine months ended September 30, 2023
Corporate finance, consulting and investment banking fees$137,305 $— $— $57,238 $— $— $— $194,543 
Wealth and asset management fees3,880 135,092 — — — — — 138,972 
Commissions, fees and reimbursed expenses24,659 8,604 26,817 36,344 — — — 96,424 
Subscription services— — — — 245,903 — — 245,903 
Sale of goods— — 67,009 — 5,145 179,156 — 251,310 
Advertising, licensing and other
— — — — 4,620 13,654 28,870 47,144 
Total revenues from contracts with customers165,844 143,696 93,826 93,582 255,668 192,810 28,870 974,296 
Interest income - Loans and securities lending222,116 — — — — — — 222,116 
Trading gains on investments29,486 2,236 — — — — — 31,722 
Fair value adjustment on loans51,624 — — — — — — 51,624 
Other17,959 2,963 — — — — — 20,922 
Total revenues$487,029 $148,895 $93,826 $93,582 $255,668 $192,810 $28,870 $1,300,680 
Capital
Markets
Segment		Wealth
Management
Segment		Auction and
Liquidation
Segment		Financial
Consulting
Segment		Communications
Segment		Consumer
Segment		All OtherTotal
Revenues for the nine months ended September 30, 2022
Corporate finance, consulting and investment banking fees$118,448 $— $— $44,958 $— $— $— $163,406 
Wealth and asset management fees 8,199 161,835 — — — — — 170,034 
Commissions, fees and reimbursed expenses 32,208 17,889 7,792 28,123 — — — 86,012 
Subscription services— — — — 135,774 — — 135,774 
Sale of goods— — 2,550 — 5,345 — — 7,895 
Advertising, licensing and other
— — — — 6,592 14,754 5,382 26,728 
Total revenues from contracts with customers158,855 179,724 10,342 73,081 147,711 14,754 5,382 589,849 
Interest income - Loans and securities lending178,879 — 3,976 — — — — 182,855 
Trading (losses) gains on investments(127,852)3,077 — — — — — (124,775)
Fair value adjustment on loans(19,183)— — — — — — (19,183)
Other64,593 5,239 — — — — — 69,832 
Total revenues$255,292 $188,040 $14,318 $73,081 $147,711 $14,754 $5,382 $698,578 
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 $127,418 and $149,110 as of September 30, 2023 and December 31, 2022, respectively. The Company had no significant impairments related to these receivables during the three and nine months ended September 30, 2023 and 2022. The Company also has $18,939 and $14,144 of unbilled receivables included in prepaid expenses and other assets as of September 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 September 30, 2023 and December 31, 2022 was $73,829 and $85,441, respectively. The Company expects to recognize the deferred revenue of $73,829 as of September 30, 2023 as service and fee revenues when the performance obligation is met during the years
ended December 31, 2023 (remaining three months), 2024, 2025, 2026 and 2027 in the amount of $48,154, $11,962, $6,350, $2,862, and $1,591, respectively. The Company expects to recognize the deferred revenue of $2,910 after December 31, 2027.
During the three months ended September 30, 2023 and 2022, the Company recognized revenue of $9,317 and $7,293 that was recorded as deferred revenue at the beginning of the respective year. During the nine months ended September 30, 2023 and 2022, the Company recognized revenue of $43,484 and $32,287 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 $7,769 and $5,990 as of September 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 September 30, 2023 and 2022, the Company recognized expenses of $1,180 and $723 related to capitalized costs to fulfill a contract, respectively. For the nine months ended September 30, 2023 and 2022, the Company recognized expenses of $3,453 and $1,813 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 nine months ended September 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 September 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 September 30, 2023.