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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Segment Information | The following tables present the Company’s segment information:
|  | Year Ended December 31, 2024
|  | playGAMES |  | playAWARDS |  | Total
Net revenue |  |  |  |  |  |
Virtual currency |  | $ | 228,877 |  |  | $ | 54 |  |  | $ | 228,931 |
Advertising |  | 60,197 |  |  | — |  |  | 60,197 |
Other |  | 293 |  |  | 8 |  |  | 301 |
|  | 289,367 |  |  | 62 |  |  | 289,429 |
Segment expenses |  |  |  |  |  |
Cost of sales |  | 72,710 |  |  | 6 |  |  | 72,716 |
Payroll & related |  | 49,994 |  |  | 10,035 |  |  | 60,029 |
User acquisition |  | 46,969 |  |  | — |  |  | 46,969 |
Other(1) |  | 34,620 |  |  | 3,731 |  |  | 38,351 |
|  | 204,293 |  |  | 13,772 |  |  | 218,065 |
Reportable segment AEBITDA |  | 85,074 |  |  | (13,710) |  |  | 71,364 |
Other operating expense |  |  |  |  |  |
Corporate and other |  |  |  |  |  | 14,815 |
Restructuring expenses |  |  |  |  |  | 25,710 |
Other reconciling items |  |  |  |  |  | 150 |
Stock based compensation |  |  |  |  |  | $ | 18,113 |
Depreciation and amortization |  |  |  |  |  | 45,440 |
|  |  |  |  |  | 104,228 |
Non-operating income (expense) |  |  |  |  |  |
Change in fair value of warrant liabilities |  |  |  |  |  | 856 |
Interest income (expense), net |  |  |  |  |  | 4,902 |
Other (expense) income, net |  |  |  |  |  | $ | (182) |
|  |  |  |  |  | 5,576 |
Income (loss) before income taxes |  |  |  |  |  | (27,288) |
Income tax expense |  |  |  |  |  | $ | (1,399) |
Net income (loss) |  |  |  |  |  | $ | (28,687) |
|  | Year Ended December 31, 2023
|  | playGAMES |  | playAWARDS |  | Total
Net revenue |  |  |  |  |  |
Virtual currency |  | $ | 247,929 |  |  | $ | — |  |  | $ | 247,929 |
Advertising |  | 58,236 |  |  | — |  |  | 58,236 |
Other |  | 549 |  |  | 4,172 |  |  | 4,721 |
|  | 306,714 |  |  | 4,172 |  |  | 310,886 |
Segment expenses |  |  |  |  |  |
Cost of sales |  | 77,800 |  |  | — |  |  | 77,800 |
Payroll & related |  | 47,787 |  |  | 11,133 |  |  | 58,920 |
User acquisition |  | 60,693 |  |  | — |  |  | 60,693 |
Other(1) |  | 31,758 |  |  | 3,418 |  |  | 35,176 |
|  | 218,038 |  |  | 14,551 |  |  | 232,589 |
Reportable segment AEBITDA |  | 88,676 |  |  | (10,379) |  |  | 78,297 |
Other operating expense |  |  |  |  |  |
Corporate and other |  |  |  |  |  | 16,005 |
Restructuring expenses |  |  |  |  |  | 8,584 |
Other reconciling items |  |  |  |  |  | 214 |
Stock based compensation |  |  |  |  |  | $ | 18,722 |
Depreciation and amortization |  |  |  |  |  | 45,259 |
|  |  |  |  |  | 88,784 |
Non-operating income (expense) |  |  |  |  |  |
Change in fair value of warrant liabilities |  |  |  |  |  | 2,596 |
Interest income (expense), net |  |  |  |  |  | 4,858 |
Other (expense) income, net |  |  |  |  |  | $ | 513 |
|  |  |  |  |  | 7,967 |
Income (loss) before income taxes |  |  |  |  |  | (2,520) |
Income tax expense |  |  |  |  |  | $ | (16,873) |
Net income (loss) |  |  |  |  |  | $ | (19,393) |
(1)Consists of legal, rent, information technology, outside services, marketing, and other general and administrative expenses.
Schedule of Reorganization Plan | The following table presents the charges for the 2024 Reorganization Plan:
|  | Year Ended December 31, 2024
|  | playGAMES |  | playAWARDS |  | Corporate and Other |  | Total
Severance and employee-related costs |  | $ | 3,956 |  |  | $ | 768 |  |  | 979 |  |  | $ | 5,703 |
Asset impairments |  | 7,388 |  |  | 1,840 |  |  | 223 |  |  | 9,451 |
Other |  | 568 |  |  | 39 |  |  | 468 |  |  | 1,075 |
Total |  | $ | 11,912 |  |  | $ | 2,647 |  |  | $ | 1,670 |  |  | $ | 16,229 |
Charges for the 2023 Reorganization Plan consisted of the following:
|  | Year Ended December 31, 2023
|  | playGAMES |  | playAWARDS |  | Corporate and Other |  | Total
Severance and employee-related costs |  | $ | 2,823 |  |  | $ | — |  |  | — |  |  | $ | 2,823 |
Other |  | — |  |  | — |  |  | 247 |  |  | 247 |
Total |  | $ | 2,823 |  |  | $ | — |  |  | $ | 247 |  |  | $ | 3,070 |
Schedule of Liabilities Associated with Reorganization Plans | The following table summarizes the activity related to the liabilities associated with the Company's reorganization plans for the years ended December 31, 2024 and 2023:
|  | playGAMES |  | playAWARDS |  | Corporate and Other |  | Total
Balance as of December 31, 2022 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Reorganization charges |  | 2,823 |  |  | — |  |  | 247 |  |  | 3,070 |
Non-cash charges |  | — |  |  | — |  |  | (223) |  |  | (223) |
Payments |  | (2,823) |  |  | — |  |  | (24) |  |  | (2,847) |
Balance as of December 31, 2023 |  | — |  |  | — |  |  | — |  |  | — |
Reorganization charges |  | 11,912 |  |  | 2,647 |  |  | 1,670 |  |  | 16,229 |
Non-cash charges |  | (7,388) |  |  | (1,840) |  |  | (443) |  |  | (9,671) |
Payments |  | (2,317) |  |  | (611) |  |  | (862) |  |  | (3,790) |
Balance as of December 31, 2024 |  | $ | 2,207 |  |  | $ | 196 |  |  | $ | 365 |  |  | $ | 2,768 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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