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REVENUE FROM CONTRACTS WITH CUSTOMERS
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS
Revenue from contracts with customers by the Company's six reportable operating segments and the All Other category during the three months ended March 31, 2024 and 2023 was as follows:
Capital
Markets
Segment 		Wealth
Management
Segment		Auction and
Liquidation
Segment		Financial
Consulting
Segment		Communications SegmentConsumer Products
Segment		All OtherTotal
Revenues for the three months ended March 31, 2024
       
Corporate finance, consulting and investment banking fees $50,163 $— $— $22,984 $— $— $— $73,147 
Wealth and asset management fees 1,056 46,057 — — — — — 47,113 
Commissions, fees and reimbursed expenses 6,256 3,887 2,580 12,101 — — — 24,824 
Subscription services — — — — 79,738 — — 79,738 
Service contract revenues— — 980 — — — — 980 
Sale of goods— — 2,220 — 1,296 51,522 615 55,653 
Advertising, licensing and other— — — — 1,332 — 26,059 27,391 
Total revenues from contracts with customers 57,475 49,944 5,780 35,085 82,366 51,522 26,674 308,846 
       
Interest income - Loans and securities lending 59,944 — — — — — — 59,944 
Trading (losses) gains on investments (18,267)600 — — — — — (17,667)
Fair value adjustment on loans (12,201)— — — — — — (12,201)
Other 2,872 1,238 — — — — — 4,110 
Total revenues $89,823 $51,782 $5,780 $35,085 $82,366 $51,522 $26,674 $343,032 
Capital
Markets
Segment		Wealth
Management
Segment		Auction and
Liquidation
Segment		Financial
Consulting
Segment		Communications SegmentConsumer Products
Segment		All OtherTotal
Revenues for the three months ended March 31, 2023
       
Corporate finance, consulting and investment banking fees $39,149 $— $— $14,515 $— $— $— $53,664 
Wealth and asset management fees 664 43,310 — — — — — 43,974 
Commissions, fees and reimbursed expenses 9,218 3,928 5,444 10,495 — — — 29,085 
Subscription services — — — — 83,008 — — 83,008 
Sale of goods— — 216 — 1,867 65,694 — 67,777 
Advertising, licensing and other
— — — — 2,044 — 13,582 15,626 
Total revenues from contracts with customers 49,031 47,238 5,660 25,010 86,919 65,694 13,582 293,134 
       
Interest income - Loans and securities lending 77,186 — — — — — — 77,186 
Trading gains on investments 7,020 1,272 — — — — — 8,292 
Fair value adjustment on loans 43,276 — — — — — — 43,276 
Other 8,898 1,304 —  — — — 10,202 
Total revenues $185,411 $49,814 $5,660 $25,010 $86,919 $65,694 $13,582 $432,090 
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 $123,797 and $115,496 as of March 31, 2024 and December 31, 2023, respectively. The Company had no significant impairments related to these receivables during the three months ended March 31, 2024 and 2023. The Company also has $16,097 and $13,402 of unbilled receivables included in prepaid expenses and other assets as of March 31, 2024 and December 31, 2023, 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 March 31, 2024 and
December 31, 2023 was $68,643 and $71,504, respectively. The Company expects to recognize the deferred revenue of $68,643 as of March 31, 2024 as service and fee revenues when the performance obligation is met during the years ended December 31, 2024 (remaining nine months), 2025, 2026, 2027 and 2028 in the amount of $44,986, $11,438, $5,415, $2,452, and $1,431, respectively. The Company expects to recognize the deferred revenue of $2,921 after December 31, 2028.
During the three months ended March 31, 2024 and 2023, the Company recognized revenue of $21,297 and $22,502 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 $7,338 and $8,131 as of March 31, 2024 and December 31, 2023, respectively, and are recorded in prepaid expenses and other assets in the condensed consolidated balance sheets. For the three months ended March 31, 2024 and 2023, the Company recognized expenses of $1,537 and $1,015 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 months ended March 31, 2024 and 2023.
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 March 31, 2024. 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 March 31, 2024.