Segment Information and Geographic Data (Tables)

6 Months Ended

Jun. 30, 2022

Segment Information and Geographic Data

Summary of financial information by segment

	Three Months Ended June 30,				Six Months Ended June 30,
Dollars in thousands	2022		2021		2022		2021
Net revenue
Legacy Business	$	53,802	$	62,127	$	102,569	$	129,764
Digital Business		12,192		7,263		26,652		16,356
Total	$	65,994	$	69,390	$	129,221	$	146,120
Adjusted EBITDA
Legacy Business	$	(11,400)	$	(4,648)	$	(26,953)	$	(4,314)
Digital Business		(54)		833		1,961		1,801
Total	$	(11,454)	$	(3,815)	$	(24,992)	$	(2,513)

Summary of reconciliation of Adjusted EBITDA to (loss) income before income

	Three Months Ended				Six Months Ended
	June 30,				June 30,
Dollars in thousands	2022		2021		2022		2021
Loss before income taxes	$	(64,912)	$	(46,419)	$	(105,760)	$	(82,893)
Add:
Depreciation and amortization		24,842		26,938		49,932		54,464
Interest and other (income) expense, net		15,077		8,518		7,734		15,765
Business optimization(a)		—		3,508		—		4,058
One-time non-recurring(b)		11,577		604		15,320		968
New business start-up costs(c)		—		282		—		453
Restructuring related(d)		(56)		509		3,956		1,861
Stock-based compensation expense		2,018		150		3,826		716
Transaction cost		—		2,095		—		2,095
Adjusted EBITDA	$	(11,454)	$	(3,815)	$	(24,992)	$	(2,513)

(a) Business optimization costs include employee retention costs, IT costs as well as consulting costs for certain projects.

(b) Includes costs related to project costs and initiatives, as well as bank, legal and other fees in connection with the Company’s debt financing activities. During the three and six months ended June 30, 2022, the Company incurred $7.7 million and $11.0 million, respectively, in one-time legal and advisory expenses as the Company explores strategic alternatives.

(c) Includes costs to support the Company’s On Demand and AVOD offerings, along with costs related to the Company’s service and media network businesses.

(d) Restructuring related costs include such items as employee severance charges. During the six months ended June 30, 2022, the Company incurred severance and related costs of $3.8 million in connection with a reduction in force, which are reflected in general and administrative expenses in the Company’s unaudited condensed consolidated statements of operations.