Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The following table summarizes the results of operations classified as discontinued operations, net of income taxes, in the condensed consolidated statements of operations for the three and six months ended June 30, 2025 and 2024 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Revenue	$	315,783	$	369,104	$	640,830	$	748,849
Costs and expenses:
Cost of revenue	89,890		160,788		209,442		330,394
Sales and marketing	118,974		135,142		242,547		300,919
Research and development	63,786		64,773		130,298		131,148
General and administrative	1,224		1,837		4,202		4,166
Goodwill impairment	—		—		188,943		—
Total costs and expenses	273,874		362,540		775,432		766,627
Income (loss) from operations	41,909		6,564		(134,602)		(17,778)
Other income:
Gain on divestiture, net of transaction costs	106,229		—		106,229		—
Other income, net	1,220		827		1,519		1,504
Total other income, net	107,449		827		107,748		1,504
Income (loss) from discontinued operations before income taxes	149,358		7,391		(26,854)		(16,274)
Provision for (benefit from) income taxes	101,683		(1,596)		72,590		(2,087)
Income (loss) from discontinued operations, net of income taxes	$	47,675	$	8,987	$	(99,444)	$	(14,187)

The following table represents assets and liabilities that are classified as discontinued operations in the condensed consolidated balance sheets for the period presented (in thousands):

Assets:	December 31, 2024
Cash and cash equivalents	$	44,381
Accounts receivable, net	130,911
Prepaid expenses and other current assets	16,063
Total current assets of discontinued operations	191,355
Goodwill	345,741
Intangible assets, net	423,826
Other non-current assets	167,682
Total assets of discontinued operations	$	1,128,604
Liabilities:
Accounts payable	$	59,125
Accrued and other current liabilities	45,202
Deferred revenue	32,786
Total current liabilities of discontinued operations	137,113
Other non-current liabilities	1,414
Total liabilities of discontinued operations	$	138,527

The following table summarizes significant non-cash operating items and capital expenditures related to discontinued operations, as reflected in the condensed consolidated statements of cash flows for the periods presented (in thousands):

	Six Months Ended June 30,
	2025		2024
Amortization, depreciation and write-offs	$	64,054	$	159,049
Stock-based compensation	$	3,663	$	11,474
Goodwill impairment	$	188,943	$	—
Acquisition of intangible assets	$	22,429	$	15,089