Discontinued Operations (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2025 and 2024 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Revenue	$	—	$	363,049	$	640,830	$	1,111,898
Costs and expenses:
Cost of revenue	—		148,740		209,442		479,134
Sales and marketing	—		142,769		242,547		443,688
Research and development	—		69,214		130,298		200,362
General and administrative	—		1,691		4,202		5,857
Goodwill impairment	—		—		188,943		—
Total costs and expenses	—		362,414		775,432		1,129,041
Income (loss) from operations	—		635		(134,602)		(17,143)
Other income (expense):
Gain on divestiture, net of transaction costs	—		—		106,229		—
Other income (expense), net	—		(695)		1,519		809
Total other income (expense), net	—		(695)		107,748		809
Loss from discontinued operations before income taxes	—		(60)		(26,854)		(16,334)
Provision for (benefit from) income taxes	—		(1,407)		72,590		(3,494)
Income (loss) from discontinued operations, net of income taxes	$	—	$	1,347	$	(99,444)	$	(12,840)

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):

	Nine Months Ended September 30,
	2025		2024
Amortization, depreciation and write-offs	$	64,054	$	226,315
Stock-based compensation	$	3,663	$	15,629
Goodwill impairment	$	188,943	$	—
Acquisition of intangible assets	$	22,429	$	18,289