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Operating Segments (Tables)
3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Information about Reportable Segments, Disaggregation of Revenue by Product

The Company provides information by reportable segment in the tables below (in thousands):

 

 

Research Segment

 

 

Consulting Segment

 

 

Events Segment

 

 

Consolidated

 

Three Months Ended March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Research revenues

 

$

68,414

 

 

$

 

 

$

 

 

$

68,414

 

Consulting revenues

 

 

5,058

 

 

 

16,378

 

 

 

 

 

 

21,436

 

Events revenues

 

 

 

 

 

 

 

 

26

 

 

 

26

 

Total segment revenues

 

 

73,472

 

 

 

16,378

 

 

 

26

 

 

 

89,876

 

Segment expenses (1):

 

 

 

 

 

 

 

 

 

 

 

 

  Compensation, benefits and related costs

 

 

(22,552

)

 

 

(6,907

)

 

 

(727

)

 

 

(30,186

)

  Professional services

 

 

(2,691

)

 

 

(513

)

 

 

(1

)

 

 

(3,205

)

  Billable expenses

 

 

(83

)

 

 

(1,357

)

 

 

 

 

 

(1,440

)

  Travel and entertainment

 

 

(389

)

 

 

(112

)

 

 

(4

)

 

 

(505

)

  Software

 

 

(377

)

 

 

 

 

 

(17

)

 

 

(394

)

  Other segment expenses (2)

 

 

(44

)

 

 

(10

)

 

 

(15

)

 

 

(69

)

Total segment expenses

 

 

(26,136

)

 

 

(8,899

)

 

 

(764

)

 

 

(35,799

)

Segment operating income (loss)

 

 

47,336

 

 

 

7,479

 

 

 

(738

)

 

 

54,077

 

Selling, marketing, administrative and other expenses

 

 

 

 

 

 

 

 

 

 

 

(54,049

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

(2,217

)

Goodwill impairment

 

 

 

 

 

 

 

 

 

 

 

(83,895

)

Restructuring and related costs

 

 

 

 

 

 

 

 

 

 

 

(1,507

)

Interest expense, other income and loss on investments

 

 

 

 

 

 

 

 

 

 

 

(711

)

Loss before income taxes

 

 

 

 

 

 

 

 

 

 

$

(88,302

)

 

(1)
The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
(2)
Other segment expenses for each reportable segment includes office supplies, maintenance, and training expenses.

 

 

Research Segment

 

 

Consulting Segment

 

 

Events Segment

 

 

Consolidated

 

Three Months Ended March 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Research revenues

 

$

76,581

 

 

$

 

 

$

 

 

$

76,581

 

Consulting revenues

 

 

4,643

 

 

 

18,498

 

 

 

 

 

 

23,141

 

Events revenues

 

 

 

 

 

 

 

 

355

 

 

 

355

 

Total segment revenues

 

 

81,224

 

 

 

18,498

 

 

 

355

 

 

 

100,077

 

Segment expenses (1):

 

 

 

 

 

 

 

 

 

 

 

 

  Compensation, benefits and related costs

 

 

(27,263

)

 

 

(8,380

)

 

 

(773

)

 

 

(36,416

)

  Professional services

 

 

(3,651

)

 

 

(478

)

 

 

(3

)

 

 

(4,132

)

  Billable expenses

 

 

(148

)

 

 

(1,940

)

 

 

 

 

 

(2,088

)

  Travel and entertainment

 

 

(299

)

 

 

(84

)

 

 

(5

)

 

 

(388

)

  Software

 

 

(458

)

 

 

 

 

 

(4

)

 

 

(462

)

  Other segment expenses (2)

 

 

(125

)

 

 

(4

)

 

 

7

 

 

 

(122

)

Total segment expenses

 

 

(31,944

)

 

 

(10,886

)

 

 

(778

)

 

 

(43,608

)

Segment operating income (loss)

 

 

49,280

 

 

 

7,612

 

 

 

(423

)

 

 

56,469

 

Selling, marketing, administrative and other expenses

 

 

 

 

 

 

 

 

 

 

 

(56,623

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

(2,514

)

Restructuring and related costs

 

 

 

 

 

 

 

 

 

 

 

(6,624

)

Interest expense and other income

 

 

 

 

 

 

 

 

 

 

 

512

 

Loss before income taxes

 

 

 

 

 

 

 

 

 

 

$

(8,780

)

(1)
The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
(2)
Other segment expenses for each reportable segment includes office supplies, maintenance, and training expenses.