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Segment and Geographic Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographic Information
16. Segment and Geographic Information
The Company has one operating and reporting segment as the Company’s Chief Operating Decision Maker (“CODM”) reviews its performance and allocates resources based on its overall business operations with no distinct geographic or product lines that meet the criteria for separate segment reporting. The Company’s CODM is its Chief Executive Officer, David Kostman. The accounting policies applied to the segment are the same as those described in the summary of significant accounting policies.
The Company generates its revenue by operating a two-sided technology platform that drives business results by connecting media owners and advertisers with engaged audiences to drive business outcomes. The Company’s platform enables thousands of digital media owners to provide tailored experiences to their audiences, delivering audience engagement and monetization. For advertisers, the Company’s platform optimizes audience attention and engagement to deliver greater return on investment at each step of the marketing funnel. This segment constitutes 100% of the Company’s consolidated revenue and profit and is the primary focus of the Company’s management’s decision making regarding product development, marketing strategies and capital allocation.
The table below summarizes the results of operations that are provided to the CODM. As the Company has one reporting segment, net income is used as the measure of profit or loss to assess segment performance and allocate resources. The Company’s asset information is not regularly provided to the Company’s CODM.
Three Months Ended March 31,
20252024
(In thousands)
Revenue from external customers$286,357 $216,964 
Less:
Traffic acquisition costs183,235 164,810 
Personnel-related costs53,627 33,169 
Merger and acquisition costs16,418 — 
Depreciation and amortization12,873 4,900 
Marketing and advertising expenses4,427 1,701 
Restructuring charges
7,279 167 
Impairment charges15,614 — 
Other segment expenses (1)
37,320 18,814 
Interest expense23,124 937 
Other (expense) income and other income, net484 (1,405)
Benefit from income taxes(13,201)(1,088)
Segment and consolidated net loss$(54,843)$(5,041)
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(1)Other segment expenses primarily consist of hosting and data services, office and related expenses, other professional fees, non-income taxes, provision for credit losses, and other expenses.
The following table presents total revenue based on where the Company’s advertisers are physically located:
Three Months Ended March 31,
20252024
(In thousands)
The Americas (1)
$90,285 $63,703 
EMEA (Europe, the Middle East and Africa)164,945 135,819 
Asia31,127 17,442 
Total revenue$286,357 $216,964 
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(1) Includes U.S. revenues of $79.2 million and $59.4 million for the three months ended March 31, 2025 and March 31, 2024, respectively.
The Company’s long-lived assets by geographic location, which are comprised of property, equipment and capitalized software, net and operating lease right-of-use assets, net are summarized below:
March 31, 2025December 31, 2024
(In thousands)
The Americas$51,202 $46,056 
EMEA (Europe, the Middle East and Africa)20,039 13,415 
Asia3,512 826 
Total long-lived assets, net$74,753 $60,297