SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2024

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 chief operating decision maker 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. 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 the 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. Segment 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.

	Three Months Ended September 30, 2024
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	32,248	$	59,474	$	169,065	$	2	$	260,789
Segment marketing expense	22,993		31,491		127,622		45		182,151
Segment profit (loss)	9,255		27,983		41,443		(43)		78,638
Cost of revenue									9,372
Brand and other marketing expense									11,391
General and administrative expense									26,680
Product development									11,190
Depreciation									4,584
Amortization of intangibles									1,466
Restructuring and severance									273
Litigation settlements and contingencies									3,762
Operating income									9,920
Interest expense, net									(10,060)
Other expense									(57,391)
Loss before income taxes									$	(57,531)

	Three Months Ended September 30, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	33,390	$	67,253	$	54,536	$	9	$	155,188
Segment marketing expense	22,095		32,826		31,177		21		86,119
Segment profit (loss)	11,295		34,427		23,359		(12)		69,069
Cost of revenue									7,570
Brand and other marketing expense									11,125
General and administrative expense									26,380
Product development									10,840
Depreciation									4,760
Amortization of intangibles									1,981
Goodwill impairment									38,600
Restructuring and severance									1,955
Litigation settlements and contingencies									(150)
Operating loss									(33,992)
Interest expense, net									(7,097)
Other expense									(110,910)
Loss before income taxes									$	(151,999)

	Nine Months Ended September 30, 2024
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	94,857	$	166,826	$	377,008	$	6	$	638,697
Segment marketing expense	66,703		84,491		265,751		104		417,049
Segment profit (loss)	28,154		82,335		111,257		(98)		221,648
Cost of revenue									26,328
Brand and other marketing expense									33,056
General and administrative expense									79,594
Product development									33,421
Depreciation									13,852
Amortization of intangibles									4,422
Restructuring and severance									498
Litigation settlements and contingencies									3,791
Operating income									26,686
Interest expense, net									(17,899)
Other expense									(55,305)
Loss before income taxes									$	(46,518)

	Nine Months Ended September 30, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	118,628	$	229,439	$	190,016	$	66	$	538,149
Segment marketing expense	78,878		119,466		111,754		516		310,614
Segment profit (loss)	39,750		109,973		78,262		(450)		227,535
Cost of revenue									30,632
Brand and other marketing expense									39,806
General and administrative expense									92,223
Product development									36,096
Depreciation									14,239
Amortization of intangibles									6,012
Goodwill impairment									38,600
Restructuring and severance									9,967
Litigation settlements and contingencies									350
Operating loss									(40,390)
Interest income, net									10,992
Other expense									(108,637)
Loss before income taxes									$	(138,035)