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Revenues | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenues | Note 3. Revenues Disaggregation of Revenue The following table depicts the Company's disaggregated revenue for the periods presented:
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Subscription |  | $ | 25,232 |  |  | $ | 29,626 |
Advisory |  |  | 1,063 |  |  |  | 1,257 |
Advertising |  |  | 455 |  |  |  | 514 |
Books |  |  | 2 |  |  |  | 148 |
Other revenue |  |  | 759 |  |  |  | 567 |
Total |  | $ | 27,511 |  |  | $ | 32,112 |
Revenue by Geographic Locations The following table depicts the Company’s revenue by geographic operations for the periods presented:
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
North America |  | $ | 21,910 |  |  | $ | 25,997 |
Europe |  |  | 5,297 |  |  |  | 5,269 |
Australia |  |  | 304 |  |  |  | 303 |
Asia |  |  | - |  |  |  | 543 |
Total |  | $ | 27,511 |  |  | $ | 32,112 |
Revenues by geography are determined based on the region of the Company's contracting entity, which may be different than the region of the customer. North America revenue consists solely of revenue attributed to the United States. For the three months ended March 31, 2025 and 2024, revenue attributed to the United Kingdom (and presented within Europe in the above table) represented approximately 15% and 13% of total revenues, respectively. No other foreign country represented more than five percent of total revenue during the three months ended March 31, 2025 and 2024. Contract Assets The Company had contract assets of $747, $1,240, and $1,183 as of March 31, 2025, December 31, 2024, and December 31, 2023, respectively. Contract assets are generated when contractual billing schedules differ from the timing of revenue recognition or cash collections. They represent a conditional right to consideration for satisfied performance obligations that becomes a receivable when the conditions are satisfied. They are recorded as part of other current assets on the condensed consolidated balance sheets. Deferred Revenue Details of the Company’s deferred revenue for the periods presented are as follows:
Balance at December 31, 2023 |  | $ | 44,405 |
Sale of Board.org |  |  | (9,117 | )
Revenue recognized in the current period from amounts in the prior balance |  |  | (19,249 | )
New deferrals, net of amounts recognized in the current period |  |  | 29,502 |
Effects of foreign currency |  |  | (118 | )
Balance at March 31, 2024 |  | $ | 45,423 |
Balance at December 31, 2024 |  | $ | 35,475 |
Sale of Dragonfly and Oxford Analytica |  |  | (7,342 | )
Revenue recognized in the current period from amounts in the prior balance |  |  | (17,472 | )
New deferrals, net of amounts recognized in the current period |  |  | 25,621 |
Effects of foreign currency |  |  | 277 |
Balance at March 31, 2025 |  | $ | 36,559 |
Costs to Obtain During the three months ended March 31, 2025 and 2024, the Company capitalized $524 and $941 of costs to obtain revenue contracts. The Company amortized costs capitalized to obtain revenue contracts in the amount of $884 and $1,009 to sales and marketing expense during the three months ended March 31, 2025 and 2024, respectively. There were no impairments of costs capitalized to obtain revenue contracts for the three months ended March 31, 2025 and 2024. Unsatisfied Performance Obligations At March 31, 2025, the Company had $80,415 of remaining contract consideration for which revenue has not been recognized due to unsatisfied performance obligations. The Company expects to recognize this over the next five years.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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