Revenue from Contracts with Clients (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

We disaggregate revenue by service type and by platform as follows (in thousands):

Service Type	Year Ended December 31, 2023		Year Ended December 31, 2022
Transaction revenue(a)	$	756,165	$	29,541
Subscription and service revenue	23,971		26,683
Total revenue	$	780,136	$	56,224

(a)Amounts are net of rebates and incentive payments of $0.1 million and $0.6 million for the years ended December 31, 2023 and December 31, 2022, respectively. Included in these amounts are amounts earned from related parties of less than $0.1 million for both years ended December 31, 2023 and December 31, 2022, respectively.

Platform	Year Ended December 31, 2023		Year Ended December 31, 2022
Loyalty redemption platform	53,148		54,479
Crypto services(b)	726,988		1,745
Total revenue	$	780,136	$	56,224

(b)Amounts are net of rebates and incentive payments of $0.1 million and $0.6 million for the years ended December 31, 2023 and December 31, 2022, respectively. Included in these amounts are amounts earned from related parties of less than $0.1 million for both years ended December 31, 2023 and December 31, 2022, respectively.

Contract Liabilities

The activity in deferred revenue for the years ended December 31, 2023 and December 31, 2022 was as follows (in thousands):

	Year Ended December 31, 2023		Year Ended December 31, 2022
Beginning of the period contract liability	$	7,084	$	9,448
Revenue recognized from contract liabilities included in the beginning balance	(4,045)		(4,739)
Increases due to cash received, net of amounts recognized in revenue during the period	4,441		2,375
End of the period contract liability	$	7,480	$	7,084