| Schedule of segment information |
| | | | | | | | | | | | | | | AIR MILES | | | | | Corporate/ | | | | Three Months Ended September 30, 2021 | | Reward Program | | BrandLoyalty | | Other | | Total | | | | (in thousands) | Revenues | | $ | 71,928 | | $ | 97,329 | | $ | — | | $ | 169,257 | | | | | | | | | | | | | | Income (loss) before income taxes | | $ | 33,889 | | $ | 6,524 | | $ | (4,018) | | $ | 36,395 | Interest (income) expense, net | | | (206) | | | 70 | | | — | | | (136) | Depreciation and amortization | | | 6,018 | | | 3,080 | | | — | | | 9,098 | Stock compensation expense | | | 777 | | | 948 | | | 418 | | | 2,143 | Adjusted EBITDA (1) | | $ | 40,478 | | $ | 10,622 | | $ | (3,600) | | $ | 47,500 |
| | | | | | | | | | | | | | | AIR MILES | | | | | Corporate/ | | | | Three Months Ended September 30, 2020 | | Reward Program | | BrandLoyalty | | Other | | Total | | | | (in thousands) | Revenues | | $ | 66,198 | | $ | 118,558 | | $ | — | | $ | 184,756 | | | | | | | | | | | | | | Income (loss) before income taxes | | $ | 28,376 | | $ | (10,084) | | $ | (3,630) | | $ | 14,662 | Interest (income) expense, net | | | (223) | | | 56 | | | — | | | (167) | Depreciation and amortization | | | 4,730 | | | 15,543 | | | — | | | 20,273 | Stock compensation expense | | | 562 | | | 920 | | | 344 | | | 1,826 | Gain on sale of business, net of strategic transaction costs | | | 178 | | | — | | | — | | | 178 | Strategic transaction costs | | | 66 | | | — | | | — | | | 66 | Restructuring and other charges | | | (5) | | | — | | | — | | | (5) | Adjusted EBITDA (1) | | $ | 33,684 | | $ | 6,435 | | $ | (3,286) | | $ | 36,833 |
| | | | | | | | | | | | | | | AIR MILES | | | | | Corporate/ | | | | Nine Months Ended September 30, 2021 | | Reward Program | | BrandLoyalty | | Other | | Total | | | | (in thousands) | Revenues | | $ | 214,123 | | $ | 282,593 | | $ | — | | $ | 496,716 | | | | | | | | | | | | | | Income (loss) before income taxes | | $ | 94,214 | | $ | 2,447 | | $ | (11,608) | | $ | 85,053 | Interest (income) expense, net | | | (582) | | | 264 | | | — | | | (318) | Depreciation and amortization | | | 17,927 | | | 9,626 | | | — | | | 27,553 | Stock compensation expense | | | 2,126 | | | 2,883 | | | 1,313 | | | 6,322 | Adjusted EBITDA (1) | | $ | 113,685 | | $ | 15,220 | | $ | (10,295) | | $ | 118,610 |
| | | | | | | | | | | | | | | AIR MILES | | | | | Corporate/ | | | | Nine Months Ended September 30, 2020 | | Reward Program | | BrandLoyalty | | Other | | Total | | | | (in thousands) | Revenues | | $ | 207,351 | | $ | 326,581 | | $ | — | | $ | 533,932 | | | | | | | | | | | | | | Income (loss) before income taxes | | $ | 107,509 | | $ | (18,562) | | $ | (10,794) | | $ | 78,153 | Interest (income) expense, net | | | (826) | | | 310 | | | — | | | (516) | Depreciation and amortization | | | 13,136 | | | 43,722 | | | — | | | 56,858 | Stock compensation expense | | | 1,515 | | | 2,478 | | | 1,191 | | | 5,184 | Gain on sale of business, net of strategic transaction costs | | | (7,791) | | | — | | | — | | | (7,791) | Strategic transaction costs | | | 229 | | | — | | | — | | | 229 | Restructuring and other charges | | | 174 | | | (50) | | | — | | | 124 | Adjusted EBITDA (1) | | $ | 113,946 | | $ | 27,898 | | $ | (9,603) | | $ | 132,241 |
| (1) | Adjusted EBITDA is a non-GAAP financial measure equal to net income, the most directly comparable financial measure based on GAAP, plus (income) loss from investment in unconsolidated subsidiary – related party, provision for income taxes, interest (income) expense, net, depreciation and other amortization, and amortization of purchased intangibles, and stock compensation expense. Adjusted EBITDA also excludes the gain on the sale of business, strategic transaction costs, which represent costs for professional services associated with strategic initiatives, and restructuring and other charges. |
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