Reportable Segments

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Reportable Segments

Reportable Segments

The Company’s operating segments are determined based on the financial information reviewed by its chief operating decision maker (“CODM”), and the basis upon which management makes resource allocation decisions and assesses the performance of the Company’s segments. The Company evaluates the operating performance of its segments based on financial measures such as Net revenue, cost of revenue, and Gross profit. Given the nature of the digital marketing solutions business, the amount of assets does not provide meaningful insight into the operating performance of the Company. As a result, the amount of the Company’s assets is not subject to segment allocation and total assets is not included within the disclosure of the Company’s segment financial information.

The following tables are a reconciliation of the operations of our segments to loss from operations (in thousands):

	Years Ended December 31,
	2023		2022
Net revenue	$	334,949	$	391,148
Brand Direct	204,456		204,240
Marketplace	149,782		216,385
Technology Solutions	8,343		9,807
Intercompany eliminations	(27,632)		(39,284)
Cost of revenue (exclusive of depreciation and amortization)	252,050		287,820
Brand Direct	164,577		161,445
Marketplace	113,240		164,226
Technology Solutions	1,865		1,433
Intercompany eliminations	(27,632)		(39,284)
Gross profit (exclusive of depreciation and amortization)	82,899		103,328
Brand Direct	39,879		42,795
Marketplace	36,542		52,159
Technology Solutions	6,478		8,374
Salaries and related costs	43,583		49,872
General and administrative expenses	46,578		41,878
Depreciation and amortization	19,460		28,242
Impairment of goodwill	49,390		—
Impairment of intangible assets	16,744		21,570
Acquisition costs	3,020		1,650
Change in fair value of contingent consideration liabilities	(1,833)		2,583
Loss from operations	$	(94,043)	$	(42,467)