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Segment Reporting and Significant Customer Information | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Segment Reporting and Significant Customer Information | Segment Reporting and Significant Customer Information The Company determines its reportable segments based upon the chief operating decision maker’s management of the business. During 2023, the Company had four reportable operating segments: Travelzoo North America, Travelzoo Europe, Jack’s Flight Club and New Initiatives. Travelzoo North America consists of the Company’s operations in the U.S. and Canada. Travelzoo Europe consists of the Company’s operations in France, Germany, Spain and the U.K. Jack’s Flight Club consists of subscription revenues from premium members to access and receive flight deals from Jack’s Flight Club via email or mobile applications. New Initiatives consists of Travelzoo’s licensing activities in certain Asia Pacific territories, the Travelzoo META subscription service and MTE. In 2022, the Company managed its business and operated in three reportable segments, including Travelzoo North America, Travelzoo Europe and Jack’s Flight Club. Following the acquisition of MTE in December 2022 and the development and announcement of Travelzoo META, the Company’s chief operating decision maker evaluated New Initiatives as an additional reportable segment beginning in 2023. Accordingly, segment operating results reported below for the year ended December 31, 2022 have been restated in accordance with GAAP under the FASB’s Segment Reporting (Topic 280). Specifically, the 2022 Travelzoo North America segment financial information was adjusted to exclude results related to the 2022 New Initiatives segment, which is now presented separately. For the year ended December 31, 2023, Travelzoo North America operations comprised 66% of revenues, Travelzoo Europe operations comprised 29% of revenues and Jack's Flight Club co mprised 5% of revenues. Management relies on an internal management reporting process that provides revenue and segment operating profit (loss) for making financial decisions and allocating resources. Management believes that segment revenues and operating profit (loss) are appropriate measures of evaluating the operational performance of the Company’s segments. As noted above, the reported financial information for 2022 has been reclassified to conform to the current segment presentation. The following is a summary of operating results and assets by business segment (in thousands):
Year Ended December 31, 2023 | Travelzoo North America |  | Travelzoo Europe |  | Jack's Flight Club |  | New Initiatives |  | Consolidated
Revenues from unaffiliated customers | $ | 54,837 |  |  | $ | 25,291 |  |  | $ | 4,145 |  |  | $ | 204 |  |  | $ | 84,477 |
Intersegment revenues | 1,243 |  |  | (1,270) |  |  | 27 |  |  | — |  |  | — |
Total net revenues | $ | 56,080 |  |  | $ | 24,021 |  |  | $ | 4,172 |  |  | $ | 204 |  |  | $ | 84,477 |
Operating income (loss) | $ | 15,254 |  |  | $ | 1,317 |  |  | $ | (23) |  |  | $ | (976) |  |  | $ | 15,572 |
Year Ended December 31, 2022 | Travelzoo North America |  | Travelzoo Europe |  | Jack's Flight Club |  | New Initiatives |  | Consolidated
Revenues from unaffiliated customers | $ | 47,029 |  |  | $ | 20,068 |  |  | $ | 3,477 |  |  | $ | 25 |  |  | $ | 70,599 |
Intersegment revenues | 613 |  |  | (613) |  |  | — |  |  | — |  |  | — |
Total net revenues | $ | 47,642 |  |  | $ | 19,455 |  |  | $ | 3,477 |  |  | $ | 25 |  |  | $ | 70,599 |
Operating income (loss) | $ | 10,348 |  |  | $ | (1,803) |  |  | $ | — |  |  | $ | (988) |  |  | $ | 7,557 |
As of December 31, 2023 | Travelzoo North America |  | Travelzoo Europe |  | Jack's Flight Club |  | New Initiatives |  | Elimination |  | Consolidated
Long-lived assets | $ | 152 |  |  | $ | 106 |  |  | $ | — |  |  | $ | 320 |  |  | $ | — |  |  | $ | 578 |
Total assets | $ | 96,865 |  |  | $ | 22,655 |  |  | $ | 19,472 |  |  | $ | 3,570 |  |  | $ | (87,181) |  |  | $ | 55,381 |
As of December 31, 2022 | Travelzoo North America |  | Travelzoo Europe |  | Jack's Flight Club |  | New Initiatives |  | Elimination |  | Consolidated
Long-lived assets | $ | 357 |  |  | $ | 86 |  |  | $ | — |  |  | $ | 214 |  |  | $ | — |  |  | $ | 657 |
Total assets | $ | 97,960 |  |  | $ | 19,253 |  |  | $ | 18,737 |  |  | $ | 336 |  |  | $ | (69,023) |  |  | $ | 67,263 |
Revenues for each segment are recognized based on customer locations within a designated geographic region. Property and equipment are attributed to the geographic region in which the assets are located. For the years ended December 31, 2023 and 2022, the Company did not have any customers that accounted for 10% or more of revenue. As of December 31, 2023 and 2022, the Company did not have any customers that accounted for 10% or more of accounts receivable. The following table sets forth the breakdown of revenues (in thousands) by category and segment. Travel revenue includes travel publications (such as Top 20 newsletter, Standalone newsletters, Travelzoo website, Travelzoo Network), Getaways vouchers, hotel platform and vacation packages. Local revenue includes Local Deals vouchers and entertainment offers.
| Year Ended December 31,
| 2023 |  | 2022
Travelzoo North America |  |  |
Travel | $ | 53,448 |  |  | $ | 44,446 |
Local | 2,632 |  |  | 3,196 |
Total Travelzoo North America revenues | 56,080 |  |  | 47,642 |
Travelzoo Europe |  |  |
Travel | 22,415 |  |  | 18,053 |
Local | 1,606 |  |  | 1,402 |
Total Travelzoo Europe revenues | 24,021 |  |  | 19,455 |
Jack's Flight Club | 4,172 |  |  | 3,477 |
New Initiatives | 204 |  |  | 25 |
Consolidated |  |  |
Travel | 75,863 |  |  | 62,499 |
Local | 4,238 |  |  | 4,598 |
Jack's Flight Club | 4,172 |  |  | 3,477 |
New Initiatives | 204 |  |  | 25 |
Total revenues | $ | 84,477 |  |  | $ | 70,599 |
Revenue by geography is based on the billing address of the advertiser. Long-lived assets attributed to the U.S. and international geographies are based upon the country in which the asset is located or owned. The following table sets forth revenues for individual countries that comprised 10% or more of total revenue (in thousands):
| Year Ended December 31,
| 2023 |  | 2022
Revenue |  |  |
United States | $ | 50,891 |  |  | $ | 43,151 |
United Kingdom | 19,486 |  |  | 15,795 |
Rest of the world | 14,100 |  |  | 11,653 |
Total revenues | $ | 84,477 |  |  | $ | 70,599 |
The following table sets forth long-lived assets by geographic area (in thousands):
| December 31,
| 2023 |  | 2022
United States | $ | 115 |  |  | $ | 274 |
Rest of the world | 463 |  |  | 383 |
Total long-lived assets | $ | 578 |  |  | $ | 657 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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