XML 25 R13.htm IDEA: XBRL DOCUMENT v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information
Note 7 — Segment Information
Revenue by business segment is as follows (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Sell-side advertising$641 $2,202 $5,153 $33,001 
Buy-side advertising7,343 6,873 21,133 20,204 
Total revenues$7,984 $9,075 $26,286 $53,205 
Operating (loss) income by business segment reconciled to (loss) income before income taxes is as follows (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Sell-side advertising (1)
$(1,105)$(873)$(2,800)$536 
Buy-side advertising (2)
1,066 1,349 3,773 3,490 
(Loss) income from reportable segment operations(39)476 973 4,026 
Corporate office expenses(4,961)(247)(16,109)(11,232)
(Loss) income before income taxes$(5,000)$229 $(15,136)$(7,206)
(1) For the three months ended September 30, 2025, sell-side segment contained less than $0.1 million in depreciation and amortization of property, equipment and software, $0 in amortization of intangible assets and $0 in amortization of deferred financing cost and debt discount (premium), net. For the three months ended September 30, 2024, sell-side segment contained less than $0.1 million in depreciation and amortization of property, equipment and software, $0 in amortization of intangible assets and $0 in amortization of deferred financing cost and debt discount (premium), net. For the nine months ended September 30, 2025, sell-side segment contained $0.1 million in depreciation and amortization of property, equipment and software, $0 in amortization of intangible assets and $0 in amortization of deferred financing cost and debt discount (premium), net. For the nine months ended September 30, 2024, sell-side segment contained $0.1 million in depreciation and amortization of property, equipment and software, $0 in amortization of intangible assets and $0 in amortization of deferred financing cost and debt discount (premium), net.
(2) For the three months ended September 30, 2025, buy-side segment contained less than $0.1 million in depreciation and amortization of property, equipment and software, $0.5 million in amortization of intangible assets and $0 in amortization of deferred financing cost and debt discount (premium), net. For the three months ended September 30, 2024, buy-side segment contained less than $0.1 million in depreciation and amortization of
property, equipment and software, $0.5 million in amortization of intangible assets and $0 in amortization of deferred financing cost and debt discount (premium), net. For the nine months ended September 30, 2025, buy-side segment contained less than $0.1 million in depreciation and amortization of property, equipment and software, $1.5 million in amortization of intangible assets and $0 in amortization of deferred financing cost and debt discount (premium), net. For the nine months ended September 30, 2024, buy-side segment contained $0.1 million in depreciation and amortization of property, equipment and software, $1.5 million in amortization of intangible assets and $0 in amortization of deferred financing cost and debt discount (premium), net.

Total assets by business segment are as follows (in thousands):
September 30,
2025		December 31,
2024
Sell-side advertising$2,454 $3,755 
Buy-side advertising17,195 18,664 
Assets from reportable segment operations19,649 22,419 
Corporate office 2,886 3,587 
Total assets$22,535 $26,006