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Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The following table summarizes revenue by reportable segments (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Owned and Operated Advertising | $ | 70,798 |  |  | $ | 66,187 |  |  | $ | 217,224 |  |  | $ | 249,512 |
Partner Network | 18,034 |  |  | 21,631 |  |  | 51,106 |  |  | 56,339 |
Total revenue | $ | 88,832 |  |  | $ | 87,818 |  |  | $ | 268,330 |  |  | $ | 305,851 |
The following table summarizes Adjusted gross profit by reportable segments (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Owned and Operated Advertising | $ | 26,406 |  |  | $ | 23,886 |  |  | $ | 76,246 |  |  | $ | 81,314 |
Partner Network | 13,053 |  |  | 15,312 |  |  | 37,462 |  |  | 40,337 |
Adjusted gross profit | 39,459 |  |  | 39,198 |  |  | 113,708 |  |  | 121,651 |
Other cost of revenue | 1,798 |  |  | 1,965 |  |  | 6,045 |  |  | 5,995 |
Salaries and benefits | 29,177 |  |  | 26,695 |  |  | 87,597 |  |  | 81,896 |
Selling, general, and administrative | 10,172 |  |  | 11,808 |  |  | 36,889 |  |  | 42,004 |
Depreciation and amortization | 20,128 |  |  | 19,584 |  |  | 59,875 |  |  | 58,666 |
Interest expense, net | 7,957 |  |  | 13,053 |  |  | 23,798 |  |  | 36,789 |
(Gain) loss from debt extinguishment | — |  |  | 619 |  |  | (20,109) |  |  | 619 |
Change in fair value of warrant liabilities | 281 |  |  | (7,482) |  |  | (1,471) |  |  | (6,873) |
Loss before income tax | $ | (30,054) |  |  | $ | (27,044) |  |  | $ | (78,916) |  |  | $ | (97,445) |
Schedule of Revenues Disaggregated by Geographic Region | The following table summarizes revenue by geographic region (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
United States | $ | 85,216 |  |  | $ | 81,512 |  |  | $ | 258,113 |  |  | $ | 292,122 |
Other countries | 3,616 |  |  | 6,306 |  |  | 10,217 |  |  | 13,729 |
Total revenue | $ | 88,832 |  |  | $ | 87,818 |  |  | $ | 268,330 |  |  | $ | 305,851 |

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- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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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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