Segment and Geographic Area Information

12 Months Ended

Dec. 31, 2023

Segment and Geographic Area Information

Segment and Geographic Area Information

19. Segment and Geographic Area Information

The Company’s operating segments are significant strategic business units that align its products and services with how it manages its business, approaches the markets and interacts with its clients. The Company is organized into three segments: ITPS, HS, and LLPS.

ITPS: The ITPS segment provides a wide range of solutions and services designed to aid businesses in information capture, processing, decisioning and distribution to customers primarily in the financial services, commercial, public sector and legal industries.

HS: The HS segment operates and maintains an outsourcing business specializing in both the healthcare provider and payer markets.

LLPS: The LLPS segment provides a broad array of support services in connection with class action settlement administration, claims adjudication, labor, employment and other legal matters.

The chief operating decision maker reviews segment profit to evaluate operating segment performance and determine how to allocate resources to operating segments. “Segment profit” is defined as revenue less cost of revenue (exclusive of depreciation and amortization). The Company does not allocate selling, general, and administrative expenses, depreciation and amortization, interest expense, net and sundry expenses (income), net. The Company manages assets on a total company basis, not by operating segment, and therefore asset information and capital

expenditures by operating segments are not presented. A reconciliation of segment profit to net loss before income taxes is presented below.

		Year ended December 31, 2023
	ITPS		HS		LLPS		Total
Revenue	$	732,319	$	251,380	$	80,425	$	1,064,124
Cost of revenue (exclusive of depreciation and amortization)		599,320		185,796		48,306		833,422
Segment profit		132,999		65,584		32,119		230,702
Selling, general and administrative expenses (exclusive of depreciation and amortization)								150,672
Depreciation and amortization								60,535
Related party expense								11,444
Interest expense, net								139,656
Debt modification and extinguishment costs (gain), net								(16,129)
Sundry expense, net								973
Other income, net								(884)
Net loss before income taxes							$	(115,565)

		Year ended December 31, 2022
	ITPS		HS		LLPS		Total
Revenue	$	765,134	$	239,270	$	72,753	$	1,077,157
Cost of revenue (exclusive of depreciation and amortization)		633,673		190,835		52,966		877,474
Segment profit		131,461		48,435		19,787		199,683
Selling, general and administrative expenses (exclusive of depreciation and amortization)								176,524
Depreciation and amortization								71,831
Impairment of goodwill and other intangible assets								171,182
Related party expense								8,923
Interest expense, net								164,870
Debt modification and extinguishment costs (gain), net								4,522
Sundry income, net								(957)
Other expense, net								14,170
Net loss before income taxes							$	(411,382)

The following table presents revenues by principal geographic area where the Company’s customers are located for the years ended December 31, 2023 and 2022.

	Years ended December 31,
	2023		2022
United States	$	877,270	$	878,644
EMEA		166,573		180,502
Other		20,281		18,011
Total Consolidated Revenue	$	1,064,124	$	1,077,157