XML 43 R33.htm IDEA: XBRL DOCUMENT v3.22.2
Segment Information (Tables)
6 Months Ended
Jun. 30, 2022
Segment Information  
Schedule of Revenue from External Customers By Segment The following table presents revenue from external customers by segment (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

June 30, 

​

June 30, 

​

​

2022

​

2021

​

2022

​

2021

Continuing franchise fees

​

$

31,619

​

$

25,039

​

$

62,739

​

$

48,648

Annual dues

​

​

9,016

​

​

8,869

​

​

17,936

​

​

17,541

Broker fees

​

​

19,317

​

​

17,453

​

​

34,402

​

​

29,406

Franchise sales and other revenue

​

​

5,824

​

​

4,930

​

​

15,436

​

​

11,850

Total Real Estate

​

​

65,776

​

​

56,291

​

​

130,513

​

​

107,445

Continuing franchise fees

​

​

2,509

​

​

1,916

​

​

4,888

​

​

3,681

Franchise sales and other revenue

​

​

606

​

​

494

​

​

1,255

​

​

1,052

Total Mortgage

​

​

3,115

​

​

2,410

​

​

6,143

​

​

4,733

Marketing Funds fees

​

​

22,909

​

​

18,042

​

​

45,760

​

​

36,187

Other

​

​

372

​

​

503

​

​

760

​

​

1,176

Total revenue

​

$

92,172

​

$

77,246

​

$

183,176

​

$

149,541

Schedule of Revenue and Adjusted EBITDA of the Company's Reportable Segment

The following table presents a reconciliation of Adjusted EBITDA by segment to income before provision for income taxes (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

June 30, 

​

June 30, 

​

​

2022

​

2021

​

2022

​

2021

Adjusted EBITDA: Real Estate

​

$

36,331

​

$

31,503

​

$

67,010

​

$

55,782

Adjusted EBITDA: Mortgage

​

​

(1,164)

​

​

(733)

​

​

(3,337)

​

​

(1,883)

Adjusted EBITDA: Other

​

​

(36)

​

​

(72)

​

​

(62)

​

​

(182)

Adjusted EBITDA: Consolidated

​

​

35,131

​

​

30,698

​

​

63,611

​

​

53,717

Impairment charge - leased assets (a)

​

​

—

​

​

—

​

​

(3,735)

​

​

—

Loss on lease termination (b)

​

​

(2,460)

​

​

—

​

​

(2,460)

​

​

—

Equity-based compensation expense

​

​

(4,535)

​

​

(6,253)

​

​

(10,172)

​

​

(18,307)

Acquisition-related expense (c)

​

​

(328)

​

​

(3,928)

​

​

(1,585)

​

​

(4,871)

Fair value adjustments to contingent consideration (d)

​

​

(1,710)

​

​

(290)

​

​

(1,995)

​

​

(10)

Other

​

​

(236)

​

​

(202)

​

​

(1,035)

​

​

(50)

Interest income

​

​

159

​

​

19

​

​

178

​

​

182

Interest expense

​

​

(4,032)

​

​

(2,124)

​

​

(7,683)

​

​

(4,222)

Depreciation and amortization

​

​

(9,113)

​

​

(6,846)

​

​

(18,098)

​

​

(13,654)

Income (loss) before provision for income taxes

​

$

12,876

​

$

11,074

​

$

17,026

​

$

12,785

(a)Represents the impairment recognized on a portion of the Company’s corporate headquarters office building. See Note 2, Summary of Significant Accounting Policies for additional information.
(b)During the second quarter of 2022, the loss was recognized in connection with the termination of the booj office lease. See Note 2, Summary of Significant Accounting Policies for additional information.
(c)Acquisition-related expense includes personnel, legal, accounting, advisory and consulting fees incurred in connection with the evaluation, due diligence, execution and integration of acquisitions.
(d)Fair value adjustments to contingent consideration include amounts recognized for changes in the estimated fair value of the contingent consideration liabilities. See Note 9, Fair Value Measurements for additional information.