SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company manages its business and reports its financial results through the following three operating and reportable segments: Home, Consumer, and Insurance. Characteristics which were relied upon in making the determination of the reportable segments include the nature of the products, the organization's internal structure, and the information that is regularly reviewed by the CODM for the purpose of assessing performance and allocating resources.

The Home segment includes the following products: purchase mortgage, refinance mortgage, and home equity loans and lines of credit. We ceased offering reverse mortgage loans in the fourth quarter of 2022. The Consumer segment includes the following products: credit cards, personal loans, small business loans, student loans, auto loans, deposit accounts, and other credit products such as credit repair and debt settlement. The credit repair business was closed at the end of the second quarter of 2023. The Insurance segment consists of insurance quote products and sales of insurance policies in our agency businesses.

The following tables are a reconciliation of segment profit, which is the Company's primary segment profitability measure, to income before income taxes and discontinued operations. Segment cost of revenue and marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses, that are directly attributable to the segments' products. This measure excludes overhead, fixed costs and personnel-related expenses.

	Year Ended December 31, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	143,753	$	278,945	$	249,605	$	199	$	672,502
Segment cost of revenue and marketing expense	95,871		140,068		146,101		708		382,748
Segment profit (loss)	47,882		138,877		103,504		(509)		289,754
Cost of revenue									38,758
Brand and other marketing expense									50,840
General and administrative expense									117,700
Product development									47,197
Depreciation									19,070
Amortization of intangibles									7,694
Goodwill impairment									38,600
Restructuring and severance									10,118
Litigation settlements and contingencies									388
Operating loss									(40,611)
Interest income, net									21,685
Other expense									(105,993)
Loss before income taxes									$	(124,919)

	Year Ended December 31, 2022
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	289,383	$	396,109	$	299,073	$	427	$	984,992
Segment cost of revenue and marketing expense	186,299		221,531		207,239		982		616,051
Segment profit (loss)	103,084		174,578		91,834		(555)		368,941
Cost of revenue									57,769
Brand and other marketing expense									86,187
General and administrative expense									152,383
Product development									55,553
Depreciation									20,095
Amortization of intangibles									25,306
Restructuring and severance									4,428
Litigation settlements and contingencies									(18)
Operating loss									(32,762)
Interest expense, net									(26,014)
Other income									3,843
Loss before income taxes									$	(54,933)

	Year Ended December 31, 2021
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	441,738	$	329,945	$	326,153	$	663	$	1,098,499
Segment cost of revenue and marketing expense	288,386		186,448		212,689		610		688,133
Segment profit	153,352		143,497		113,464		53		410,366
Cost of revenue									57,297
Brand and other marketing expense									85,857
General and administrative expense									153,472
Product development									52,865
Depreciation									17,910
Amortization of intangibles									42,738
Change in fair value of contingent consideration									(8,249)
Restructuring and severance									53
Litigation settlements and contingencies									392
Operating income									8,031
Interest expense, net									(46,867)
Other income									123,272
Income before income taxes and discontinued operations									$	84,436

The CODM does not review information on segment assets and as such, no segment asset information is reported herein.