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SEGMENT REPORTING | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING We have three reportable segments: •Owned and Operated Advertising — revenue earned by directly acquiring traffic to the Company's owned and operated websites and utilizing the RAMP platform and related services to connect Advertising Partners to the Company's owned and operated websites; •Partner Network — revenue earned from revenue-sharing arrangements with Network Partners for the use of the RAMP platform, and related services provided to them to direct advertising by the Advertising Partners to their advertising space; and •Subscription — revenue primarily derived from the (i) delivery of the antivirus software and (ii) delivery of the additional add-on service(s). The following table summarizes revenue by the Company's three reportable segments:
| Successor |  |  | Predecessor
| Three Months Ended March 31, 2023 |  |  | Period from January 27, 2022 through March 31, 2022 |  |  | Period from January 1, 2022 through January 26, 2022
Owned and Operated Advertising | $ | 106,025 |  |  |  | $ | 126,884 |  |  |  | $ | 49,249 |
Partner Network | 15,093 |  |  |  | 11,350 |  |  |  | 3,463 |
Subscription | 46,736 |  |  |  | 27,874 |  |  |  | — |
Total revenue | $ | 167,854 |  |  |  | $ | 166,108 |  |  |  | $ | 52,712 |
The following table summarizes adjusted gross profit by the Company's three reportable segments:
| Successor |  |  | Predecessor
| Three Months Ended March 31, 2023 |  |  | Period from January 27, 2022 through March 31, 2022 |  |  | Period from January 1, 2022 through January 26, 2022
Owned and Operated Advertising | $ | 29,839 |  |  |  | $ | 29,418 |  |  |  | $ | 8,768 |
Partner Network | 10,217 |  |  |  | 8,413 |  |  |  | 3,012 |
Subscription | 14,155 |  |  |  | 12,647 |  |  |  | — |
Adjusted gross profit | $ | 54,211 |  |  |  | $ | 50,478 |  |  |  | $ | 11,780 |
Other cost of revenue | 6,759 |  |  |  | 4,754 |  |  |  | 575 |
Salaries and benefits | 38,398 |  |  |  | 48,198 |  |  |  | 31,181 |
Selling, general and administrative | 17,172 |  |  |  | 15,088 |  |  |  | 15,665 |
Depreciation and amortization | 29,374 |  |  |  | 21,928 |  |  |  | 1,000 |
Interest expense, net | 11,451 |  |  |  | 4,776 |  |  |  | 1,049 |
Change in fair value of warrant liabilities | (1,409) |  |  |  | 13,761 |  |  |  | — |
Net loss before income tax | $ | (47,534) |  |  |  | $ | (58,027) |  |  |  | $ | (37,690) |
The following table summarizes revenue by geographic region:
| Successor |  |  | Predecessor
Geographic Region | Three Months Ended March 31, 2023 |  |  | Period from January 27, 2022 through March 31, 2022 |  |  | Period from January 1, 2022 through January 26, 2022
United States | $ | 117,199 |  |  |  | $ | 134,608 |  |  |  | $ | 51,701 |
United Kingdom | 46,853 |  |  |  | 27,719 |  |  |  | — |
Other countries | 3,802 |  |  |  | 3,781 |  |  |  | 1,011 |
Total revenue | $ | 167,854 |  |  |  | $ | 166,108 |  |  |  | $ | 52,712 |
The following table summarizes property and equipment, net and operating leases by reportable segments:
| Successor
| March 31, 2023 |  |  | December 31, 2022
Owned and Operated Advertising | $ | 9,269 |  |  |  | $ | 9,646 |
Subscription | 1,250 |  |  |  | 860 |
Total | $ | 10,519 |  |  |  | $ | 10,506 |

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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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