XML 47 R29.htm IDEA: XBRL DOCUMENT v3.25.0.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 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 CODM, the Company’s Chief Executive Officer, 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, 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. In the fourth quarter of 2024, the Company made the decision to cease offering its student loan products and plans to be substantially completed in the first quarter of 2025. 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. 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, 2024
HomeConsumerInsuranceOtherTotal
(in thousands)
Revenue$128,854 $222,462 $548,704 $199 $900,219 
Segment cost of revenue and marketing expense88,958 111,925 389,474 294 590,651 
Segment profit (loss)39,896 110,537 159,230 (95)309,568 
Cost of revenue36,072 
Brand and other marketing expense45,312 
General and administrative expense108,705 
Product development46,358 
Depreciation18,300 
Amortization of intangibles5,889 
Restructuring and severance508 
Litigation settlements and contingencies3,797 
Operating income44,627 
Interest expense, net(27,849)
Other expense(54,162)
Loss before income taxes$(37,384)
Year Ended December 31, 2023
HomeConsumerInsuranceOtherTotal
(in thousands)
Revenue$143,753 $278,945 $249,605 $199 $672,502 
Segment cost of revenue and marketing expense95,871 140,068 146,101 708 382,748 
Segment profit (loss)47,882 138,877 103,504 (509)289,754 
Cost of revenue38,758 
Brand and other marketing expense50,840 
General and administrative expense117,700 
Product development47,197 
Depreciation19,070 
Amortization of intangibles7,694 
Goodwill impairment38,600 
Restructuring and severance10,118 
Litigation settlements and contingencies388 
Operating loss(40,611)
Interest income, net21,685 
Other expense(105,993)
Loss before income taxes$(124,919)
Year Ended December 31, 2022
HomeConsumerInsuranceOtherTotal
(in thousands)
Revenue$289,383 $396,109 $299,073 $427 $984,992 
Segment cost of revenue and marketing expense186,299 221,531 207,239 982 616,051 
Segment profit (loss)103,084 174,578 91,834 (555)368,941 
Cost of revenue57,769 
Brand and other marketing expense86,187 
General and administrative expense152,383 
Product development55,553 
Depreciation20,095 
Amortization of intangibles25,306 
Restructuring and severance4,428 
Litigation settlements and contingencies(18)
Operating loss(32,762)
Interest expense, net(26,014)
Other income3,843 
Loss before income taxes$(54,933)
The CODM does not review information on segment assets and as such, no segment asset information is reported herein.