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Operating Segments (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Research revenues

 

$

77,926

 

 

$

 

 

$

 

 

$

77,926

 

Consulting revenues

 

 

5,789

 

 

 

17,704

 

 

 

 

 

 

23,493

 

Events revenues

 

 

 

 

 

 

 

 

10,240

 

 

 

10,240

 

Total segment revenues

 

 

83,715

 

 

 

17,704

 

 

 

10,240

 

 

 

111,659

 

Segment expenses (1):

 

 

 

 

 

 

 

 

 

 

 

 

  Compensation, benefits and related costs

 

 

(23,414

)

 

 

(7,256

)

 

 

(831

)

 

 

(31,501

)

  Direct cost of events

 

 

 

 

 

 

 

 

(8,973

)

 

 

(8,973

)

  Professional services

 

 

(1,657

)

 

 

(1,010

)

 

 

(77

)

 

 

(2,744

)

  Billable expenses

 

 

(102

)

 

 

(1,756

)

 

 

 

 

 

(1,858

)

  Travel and entertainment

 

 

(628

)

 

 

(130

)

 

 

(34

)

 

 

(792

)

  Software

 

 

(354

)

 

 

 

 

 

(17

)

 

 

(371

)

  Other segment expenses (2)

 

 

(27

)

 

 

(4

)

 

 

(7

)

 

 

(38

)

Total segment expenses

 

 

(26,182

)

 

 

(10,156

)

 

 

(9,939

)

 

 

(46,277

)

Segment operating income

 

 

57,533

 

 

 

7,548

 

 

 

301

 

 

 

65,382

 

Selling, marketing, administrative and other expenses

 

 

 

 

 

 

 

 

 

 

 

(55,718

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

(2,217

)

Restructuring and related costs

 

 

 

 

 

 

 

 

 

 

 

(491

)

Interest expense and other income

 

 

 

 

 

 

 

 

 

 

 

160

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

7,116

 

 

(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 June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Research revenues

 

$

83,663

 

 

$

 

 

$

 

 

$

83,663

 

Consulting revenues

 

 

5,500

 

 

 

19,311

 

 

 

 

 

 

24,811

 

Events revenues

 

 

 

 

 

 

 

 

13,351

 

 

 

13,351

 

Total segment revenues

 

 

89,163

 

 

 

19,311

 

 

 

13,351

 

 

 

121,825

 

Segment expenses (1):

 

 

 

 

 

 

 

 

 

 

 

 

  Compensation, benefits and related costs

 

 

(25,898

)

 

 

(7,489

)

 

 

(898

)

 

 

(34,285

)

  Direct cost of events

 

 

 

 

 

 

 

 

(8,934

)

 

 

(8,934

)

  Professional services

 

 

(3,110

)

 

 

(393

)

 

 

(15

)

 

 

(3,518

)

  Billable expenses

 

 

(144

)

 

 

(2,179

)

 

 

 

 

 

(2,323

)

  Travel and entertainment

 

 

(661

)

 

 

(79

)

 

 

(31

)

 

 

(771

)

  Software

 

 

(492

)

 

 

 

 

 

(4

)

 

 

(496

)

  Other segment expenses (2)

 

 

(151

)

 

 

(6

)

 

 

(8

)

 

 

(165

)

Total segment expenses

 

 

(30,456

)

 

 

(10,146

)

 

 

(9,890

)

 

 

(50,492

)

Segment operating income

 

 

58,707

 

 

 

9,165

 

 

 

3,461

 

 

 

71,333

 

Selling, marketing, administrative and other expenses

 

 

 

 

 

 

 

 

 

 

 

(57,424

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

(2,513

)

Restructuring and related costs

 

 

 

 

 

 

 

 

 

 

 

(82

)

Interest expense and other income

 

 

 

 

 

 

 

 

 

 

 

252

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

11,566

 

(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

 

Six Months Ended June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Research revenues

 

$

146,340

 

 

$

 

 

$

 

 

$

146,340

 

Consulting revenues

 

 

10,847

 

 

 

34,082

 

 

 

 

 

 

44,929

 

Events revenues

 

 

 

 

 

 

 

 

10,266

 

 

 

10,266

 

Total segment revenues

 

 

157,187

 

 

 

34,082

 

 

 

10,266

 

 

 

201,535

 

Segment expenses (1):

 

 

 

 

 

 

 

 

 

 

 

 

  Compensation, benefits and related costs

 

 

(45,966

)

 

 

(14,163

)

 

 

(1,558

)

 

 

(61,687

)

  Direct cost of events

 

 

 

 

 

 

 

 

(8,973

)

 

 

(8,973

)

  Professional services

 

 

(4,348

)

 

 

(1,523

)

 

 

(78

)

 

 

(5,949

)

  Billable expenses

 

 

(185

)

 

 

(3,113

)

 

 

 

 

 

(3,298

)

  Travel and entertainment

 

 

(1,017

)

 

 

(242

)

 

 

(38

)

 

 

(1,297

)

  Software

 

 

(731

)

 

 

 

 

 

(34

)

 

 

(765

)

  Other segment expenses (2)

 

 

(71

)

 

 

(14

)

 

 

(22

)

 

 

(107

)

Total segment expenses

 

 

(52,318

)

 

 

(19,055

)

 

 

(10,703

)

 

 

(82,076

)

Segment operating income (loss)

 

 

104,869

 

 

 

15,027

 

 

 

(437

)

 

 

119,459

 

Selling, marketing, administrative and other expenses

 

 

 

 

 

 

 

 

 

 

 

(109,767

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

(4,434

)

Goodwill impairment

 

 

 

 

 

 

 

 

 

 

 

(83,895

)

Restructuring and related costs

 

 

 

 

 

 

 

 

 

 

 

(1,998

)

Interest expense, other income and loss on investments

 

 

 

 

 

 

 

 

 

 

 

(551

)

Loss before income taxes

 

 

 

 

 

 

 

 

 

 

$

(81,186

)

(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

 

Six Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Research revenues

 

$

160,244

 

 

$

 

 

$

 

 

$

160,244

 

Consulting revenues

 

 

10,143

 

 

 

37,809

 

 

 

 

 

 

47,952

 

Events revenues

 

 

 

 

 

 

 

 

13,706

 

 

 

13,706

 

Total segment revenues

 

 

170,387

 

 

 

37,809

 

 

 

13,706

 

 

 

221,902

 

Segment expenses (1):

 

 

 

 

 

 

 

 

 

 

 

 

  Compensation, benefits and related costs

 

 

(53,161

)

 

 

(15,869

)

 

 

(1,671

)

 

 

(70,701

)

  Direct cost of events

 

 

 

 

 

 

 

 

(8,934

)

 

 

(8,934

)

  Professional services

 

 

(6,761

)

 

 

(871

)

 

 

(18

)

 

 

(7,650

)

  Billable expenses

 

 

(292

)

 

 

(4,119

)

 

 

 

 

 

(4,411

)

  Travel and entertainment

 

 

(960

)

 

 

(163

)

 

 

(36

)

 

 

(1,159

)

  Software

 

 

(950

)

 

 

 

 

 

(8

)

 

 

(958

)

  Other segment expenses (2)

 

 

(276

)

 

 

(10

)

 

 

(1

)

 

 

(287

)

Total segment expenses

 

 

(62,400

)

 

 

(21,032

)

 

 

(10,668

)

 

 

(94,100

)

Segment operating income

 

 

107,987

 

 

 

16,777

 

 

 

3,038

 

 

 

127,802

 

Selling, marketing, administrative and other expenses

 

 

 

 

 

 

 

 

 

 

 

(114,047

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

(5,027

)

Restructuring and related costs

 

 

 

 

 

 

 

 

 

 

 

(6,706

)

Interest expense and other income

 

 

 

 

 

 

 

 

 

 

 

764

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

2,786

 

 

(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.