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Segment and Geographic Information | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Segment and Geographic Information | 14. 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 (loss) 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, |  |
| 2026 |  | 2025 |  |  |  |
| (In thousands)
Revenue from external customers | $ | 265,983 |  |  | $ | 286,357 |  |  |  |  |
Less: |  |  |  |  |  |  |
Traffic acquisition costs | 158,109 |  |  | 183,235 |  |  |  |  |
Personnel-related costs | 62,618 |  |  | 53,627 |  |  |  |  |
Merger and acquisition costs | 1,284 |  |  | 16,418 |  |  |  |  |
Depreciation and amortization | 17,434 |  |  | 12,873 |  |  |  |  |
Marketing and advertising expenses | 5,357 |  |  | 4,427 |  |  |  |  |
Restructuring charges | 1,703 |  |  | 7,279 |  |  |  |  |
Impairment charges | — |  |  | 15,614 |  |  |  |  |
Other cost of sales | 17,229 |  |  | 14,758 |  |  |  |  |
Other segment expenses (1) | 24,055 |  |  | 22,562 |  |  |  |  |
Interest expense | 17,409 |  |  | 23,124 |  |  |  |  |
Other expense (income) and interest income, net | 559 |  |  | 484 |  |  |  |  |
Benefit for income taxes | (988) |  |  | (13,201) |  |  |  |  |
Segment and consolidated net loss | $ | (38,786) |  |  | $ | (54,843) |  |  |  |  |
_____________________ (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, |  |
| 2026 |  | 2025 |  |  |  |
| (In thousands)
The Americas (1) | $ | 73,248 |  |  | $ | 90,285 |  |  |  |  |
EMEA (Europe, the Middle East and Africa) | 161,914 |  |  | 164,945 |  |  |  |  |
Asia | 30,821 |  |  | 31,127 |  |  |  |  |
Total revenue | $ | 265,983 |  |  | $ | 286,357 |  |  |  |  |
_____________________ (1)Includes U.S. revenues of $67.0 million and $79.2 million for the three months ended March 31, 2026 and March 31, 2025, 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, 2026 |  | December 31, 2025
| (In thousands)
The Americas | $ | 47,719 |  |  | $ | 47,637 |
EMEA (Europe, the Middle East and Africa) | 30,986 |  |  | 29,503 |
Asia | 2,371 |  |  | 2,668 |
Total long-lived assets, net | $ | 81,076 |  |  | $ | 79,808 |

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