Deferred Revenue and Revenue by Type

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Deferred Revenue and Revenue by Type

NOTE 8 — Deferred Revenue and Revenue by Type

Deferred Revenue

Contract liabilities consist of deferred revenue, which is recorded on the Consolidated Balance Sheets when the Company has received consideration, or has the right to receive consideration, in advance of transferring the performance obligations under the contract to the customer.

The following table presents the Company's deferred revenue balances and changes therein:

	Year Ended December 31,
	2024			2023
Balance, beginning of year	$	1,764		$	1,958
Add: net increase in current period contract liabilities		1,510			1,595
Less: revenue recognized from beginning balance		(1,756	)		(1,789	)
Balance, end of year	$	1,518		$	1,764

A majority of the deferred revenue balance as of December 31, 2024 is expected to be recognized in the subsequent 12-month period. No other contract assets or liabilities are recorded on the Company’s Consolidated Balance Sheets as of December 31, 2024 and 2023.

Revenue by Type and Geography

The following table presents the Company’s revenue by service type:

	Year Ended December 31,
	2024		2023
Advertising	$	33,956	$	41,764
Other services		686		488
	$	34,642	$	42,252

The following table presents the Company’s revenue by geographic region:

	Year Ended December 31,
	2024		2023
United States	$	33,357	$	40,509
All other countries		1,285		1,743
	$	34,642	$	42,252

The following table presents the Company’s revenue by state:

	Year Ended December 31,
	2024			2023
Arizona		23	%		20	%
California		12	%		12	%
Oregon		10	%		10	%

No other state comprised 10% or more of Leafly’s revenue during the year ended December 31, 2024 and 2023. We have a diversified set of customers; no single customer accounted for 10% or more of our revenue for the year ended December 31, 2024 or 2023.

The following table presents the Company’s revenue by timing of recognition:

	Year Ended December 31,
	2024		2023
Over Time
Retail 1	$	29,912	$	35,923
Brands 2		3,300		4,537
		33,212		40,460
Point in time
Brands 3		1,430		1,792
	$	34,642	$	42,252

1.Revenues from subscription services and display ads.

2.Revenues from brand profile subscriptions and digital media (including display ads and audience extension).

3.Revenues from channel advertising (including direct to consumer email).

Revenues recognized over time are associated with software subscriptions, display ads and audience extension. Revenues recognized at a point in time are associated with branded content and channel advertising. There are no material variations in delivery and revenue recognition periods within the over time category.