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Segment Reporting | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting We have two operating and reportable segments: Owned and Operated Advertising and Partner Network. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the Chief Operating Decision Maker ("CODM"), in deciding how to allocate resources and assess performance. Our Chief Executive Officer, who is considered to be our CODM, reviews financial information presented on an operating segment basis for purposes of making operating decisions and assessing financial performance. The CODM measures and evaluates reportable segments based on segment adjusted gross profit. The CODM evaluates both potential future, as well as historical budget to actual variances, adjusted gross profit by segment on a quarterly basis to determine the allocation of capital for acquisition marketing, as well as technical and personnel resources. Adjusted gross profit is also used to determine variable compensation expense for certain employees. We have not presented segment assets as our CODM does not use segment assets to evaluate or measure segment performance or allocate resources. The tables below include the following operating expenses that are not allocated to the reportable segments presented to our CODM, such as other cost of revenue (total cost of revenue excluding traffic acquisition cost), salaries and benefits, depreciation and amortization and, at times, certain other transactions or adjustments. The CODM does not consider these expenses for the purposes of making decisions to allocate resources among segments or to assess segment performance, however these costs are included in reported consolidated net loss from continuing operations before income tax and are included in the reconciliation that follows. The following table summarizes revenue, segment cost of revenue and adjusted gross profit by reportable segments (in thousands):
| For the Year Ended
| 2024 |  | 2023
Owned and Operated Advertising | $ | 281,930 |  |  | $ | 328,934 |
Partner Network | 61,995 |  |  | 73,037 |
Total revenue | $ | 343,925 |  |  | $ | 401,971 |
Owned and Operated Advertising | $ | 173,721 |  |  | $ | 221,238 |
Partner Network | 10,136 |  |  | 19,617 |
Total segment cost of revenue | $ | 183,857 |  |  | $ | 240,855 |
Owned and Operated Advertising | $ | 108,209 |  |  | $ | 107,696 |
Partner Network | 51,859 |  |  | 53,420 |
Adjusted gross profit | 160,068 |  |  | 161,116 |
Other cost of revenue | 7,704 |  |  | 7,890 |
Salaries and benefits | 113,512 |  |  | 106,505 |
Selling, general, and administrative | 47,346 |  |  | 54,307 |
Depreciation and amortization | 80,107 |  |  | 78,403 |
Interest expense, net | 31,562 |  |  | 48,745 |
Gain on extinguishment of debt | (20,109) |  |  | — |
Loss on extinguishment of related-party debt | — |  |  | 2,004 |
Change in fair value of warrant liabilities | (2,386) |  |  | (5,109) |
Loss before income tax | $ | (97,668) |  |  | $ | (131,629) |
The following table summarizes revenue by geographic region (in thousands):
| For the Year Ended
| 2024 |  | 2023
United States | $ | 333,069 |  |  | $ | 385,847 |
Other countries | 10,856 |  |  | 16,124 |
Total revenue | $ | 343,925 |  |  | $ | 401,971 |
Concentrations The following tables illustrate the concentrations as a percentage of total revenue and total accounts receivable for our key Advertising Partners: Concentration of revenue from key Advertising Partners
| For the Year Ended
| 2024 |  | 2023
Google | 78 | % |  | 85 | %
Concentration of accounts receivable from key Advertising Partners |  |  |
| December 31, 2024 |  | December 31, 2023
Google | 56 | % |  | 69 | %
Microsoft | 8 | % |  | 5 | %
Yahoo | 7 | % |  | 6 | %
As of December 31, 2024, we had two paid search advertising partnership agreements with Google, and one paid search advertising partnership agreement with Microsoft. The Google agreements are in effect through February 28, 2025 and September 30, 2027. The Google agreement set to expire on February 28, 2025 was extended through February 28, 2027. The agreement with Microsoft (our next largest Advertising Partner by revenue) is in effect through June 30, 2025. Under certain circumstances, each of these agreements may be terminated by either us or the respective Advertising Partner immediately, or with minimal notice.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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