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v3.25.1

Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Components of Revenue and Cost of Revenue | The following table presents the components of revenue and cost of revenue (in thousands):
|  |  |  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Revenue: |  |  |  |  |  |  |
Residence and hotel travel |  |  |  |  | $ | 38,281 |  |  | $ | 44,190 |
Experiences and bespoke travel |  |  |  |  | 3,442 |  |  | 5,484 |
Total Travel |  |  |  |  | 41,723 |  |  | 49,674 |
Subscription |  |  |  |  | 20,892 |  |  | 28,065 |
Rewards and other revenue |  |  |  |  | 3,274 |  |  | 2,506 |
Total revenue |  |  |  |  | 65,889 |  |  | 80,245 |
Cost of revenue: |  |  |  |  |  |  |
Lease costs |  |  |  |  | 17,190 |  |  | 20,029 |
Booking fees |  |  |  |  | 13,940 |  |  | 20,015 |
Fixed operating costs |  |  |  |  | 3,138 |  |  | 3,769 |
Variable operating costs |  |  |  |  | 2,960 |  |  | 3,264 |
Depreciation expense |  |  |  |  | 1,503 |  |  | 1,295 |
Other cost of revenue |  |  |  |  | 1,613 |  |  | 153 |
Total cost of revenue |  |  |  |  | 40,344 |  |  | 48,524 |
Gross margin |  |  |  |  | 25,545 |  |  | 31,721 |
General and administrative |  |  |  |  | 11,386 |  |  | 14,649 |
Sales and marketing |  |  |  |  | 5,007 |  |  | 8,726 |
Operations |  |  |  |  | 5,230 |  |  | 7,023 |
Technology and development |  |  |  |  | 1,287 |  |  | 2,050 |
Depreciation and amortization |  |  |  |  | 1,004 |  |  | 1,001 |
Interest expense, net |  |  |  |  | 466 |  |  | 323 |
Gain on fair value instruments |  |  |  |  | (487) |  |  | (4,149) |
Other income, net |  |  |  |  | (7) |  |  | (295) |
Income and comprehensive income before income taxes |  |  |  |  | 1,659 |  |  | 2,393 |
Income tax expense |  |  |  |  | 37 |  |  | 144 |
Net income and comprehensive income |  |  |  |  | $ | 1,622 |  |  | $ | 2,249 |

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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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