Revenue Recognition

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Disaggregation of revenues

The following table depicts the disaggregation of revenue according to customer type and is consistent with how we evaluate our financial performance. We believe this depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

	Three Months Ended September 30, 2023
	Subscriptions		Advertising		Revenue Share (Related Party)		Revenue Share (Third-party)		Total
Timing of transfer:
Transferred over time	$	105,581	$	—	$	—	$	—	$	105,581
Transferred at a point in time	—		192		351		26		569
Total	$	105,581	$	192	$	351	$	26	$	106,150

	Three Months Ended September 30, 2022
	Subscriptions		Advertising		Revenue Share (Related Party)		Revenue Share (Third-party)		Total
Timing of transfer:
Transferred over time	$	118,990	$	—	$	—	$	—	$	118,990
Transferred at a point in time	—		169		637		138		944
Total	$	118,990	$	169	$	637	$	138	$	119,934

	Nine Months Ended September 30, 2023
	Subscriptions		Advertising		Revenue Share (Related Party)		Revenue Share (Third-party)		Total
Timing of transfer:
Transferred over time	$	334,141	$	—	$	—	$	—	$	334,141
Transferred at a point in time	—		508		1,250		128		1,886
Total	$	334,141	$	508	$	1,250	$	128	$	336,027

	Nine Months Ended September 30, 2022
	Subscriptions		Advertising		Revenue Share (Related Party)		Revenue Share (Third-party)		Total
Timing of transfer:
Transferred over time	$	382,321	$	—	$	—	$	—	$	382,321
Transferred at a point in time	—		606		1,363		456		2,425
Total	$	382,321	$	606	$	1,363	$	456	$	384,746

Revenue recognition by subscription type was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Membership subscriptions	$	48,177	$	46,915	$	137,988	$	148,219
Term subscriptions	57,404		72,075		196,153		234,102
Non-subscription revenue	569		944		1,886		2,425
Total	$	106,150	$	119,934	$	336,027	$	384,746

Revenue for the membership and term subscription types are determined based on the terms of the subscription agreements. Non-subscription revenue consists of revenue from advertising and other revenue from revenue share arrangements and the sale of print products and events, such as webinars and conferences.

Net revenue by principal geographic areas was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
United States	$	106,150	$	119,707	$	335,936	$	384,419
International	—		227		91		327
Total	$	106,150	$	119,934	$	336,027	$	384,746

Revenue by location is determined by the billing entity for the customer.

Contract Balances

The timing of revenue recognition, Billings, cash collections and refunds affects the recognition of accounts receivable, contract assets and deferred revenue. Our current deferred revenue balance in the condensed consolidated balance sheets includes an obligation for refunds for contracts where the provision for refund has not lapsed. Accounts receivable, deferred revenue and obligation for refunds are as follows:

	As of
	September 30, 2023		December 31, 2022
Contract balances
Accounts receivable	$	5,958	$	4,040
Obligations for refunds	$	3,302	$	4,676
Deferred revenue – current	$	290,226	$	310,555
Deferred revenue – non-current	$	325,688	$	348,273

We recognized $69,978 and $72,852 of revenue during the three months ended September 30, 2023 and 2022, respectively, and $256,627 and $266,246 during the nine months ended September 30, 2023 and 2022, respectively, that was included within the beginning contract liability balance of the respective periods. The Company has collected all amounts included in deferred revenue other than $5,958 and $4,040 as of September 30, 2023 and December 31, 2022, respectively, related to the timing of cash settlement with our credit card processors.

Assets Recognized from Costs to Obtain a Contract with a Customer

The following table presents the opening and closing balances of our capitalized costs associated with contracts with customers:

Balance at January 1, 2023	$	197,618
Royalties and sales commissions – additions	22,989
Revenue share and cost per acquisition fees – additions	36,526
Amortization of capitalized costs	(83,081)
Balance at September 30, 2023	$	174,052

We did not recognize any impairment on capitalized costs associated with contracts with customers for the three and nine months ended September 30, 2023 and 2022.

Remaining Performance Obligations

As of September 30, 2023, the Company had $619,216 of remaining performance obligations presented as deferred revenue in the condensed consolidated balance sheets. We expect to recognize approximately 47% of that amount as revenues over the next twelve months, with the remainder recognized thereafter.