XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues $ 386,207 $ 320,935 $ 1,179,519 $ 958,044
Operating expenses        
Subscriber related expenses 317,692 286,068 1,004,361 858,399
Broadcasting and transmission 14,390 15,187 44,063 53,278
Sales and marketing 55,226 60,494 134,289 137,259
Technology and development 21,187 17,506 60,576 53,511
General and administrative 26,528 15,861 65,254 45,998
Depreciation and amortization 9,816 9,103 28,596 26,858
Total operating expenses 444,839 404,219 1,337,139 1,175,303
Operating loss (58,632) (83,284) (157,620) (217,259)
Other income (expense)        
Interest expense (5,277) (3,440) (16,096) (10,255)
Interest income 1,565 2,960 5,751 8,063
Amortization of debt premium (discount), net 348 (650) 869 (1,918)
Gain on extinguishment of debt 7,752 0 29,513 0
Other (expense) income (245) (318) 1,144 (1,175)
Total other income (expense) 4,143 (1,448) 21,181 (5,285)
Loss from continuing operations before income taxes (54,489) (84,732) (136,439) (222,544)
Income tax (provision) benefit (195) 247 (407) 482
Net loss from continuing operations (54,684) (84,485) (136,846) (222,062)
Discontinued operations        
Net income from discontinued operations before income taxes 1,836 669 1,687 4,672
Income tax benefit 0 0 0 0
Net income from discontinued operations 1,836 669 1,687 4,672
Net loss (52,848) (83,816) (135,159) (217,390)
Less: Net loss attributable to non-controlling interest 425 5 1,454 26
Net loss attributable to common shareholders (52,423) (83,811) (133,705) (217,364)
Other comprehensive loss        
Foreign currency translation adjustment 5,817 3,858 435 965
Comprehensive loss attributable to common shareholders $ (46,606) $ (79,953) $ (133,270) $ (216,399)
Net loss per share attributable to common shareholders        
Basic loss per share from continuing operations (in usd per share) $ (0.17) $ (0.29) $ (0.44) $ (0.82)
Diluted loss per share from continuing operations (in usd per share) (0.17) (0.29) (0.44) (0.82)
Basic income per share from discontinued operations (in usd per share) 0.01 0 0.01 0.02
Diluted income per share from discontinued operations (in usd per share) 0.01 0 0.01 0.02
Basic loss per share (in usd per share) (0.16) (0.29) (0.43) (0.80)
Diluted loss per share (in usd per share) $ (0.16) $ (0.29) $ (0.43) $ (0.80)
Weighted average shares outstanding:        
Basic (in shares) 331,582,813 292,693,961 314,126,997 270,078,947
Diluted (in shares) 331,582,813 292,693,961 314,126,997 270,078,947
Subscription        
Revenues        
Total revenues $ 356,575 $ 289,623 $ 1,093,225 $ 879,492
Advertising        
Revenues        
Total revenues 27,054 30,592 80,808 76,383
Other        
Revenues        
Total revenues $ 2,578 $ 720 $ 5,486 $ 2,169