Segment Reporting

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Reporting

5. Segment Reporting

Our reportable segments are Marketplace and Resale. Through the Marketplace segment, we act as an intermediary between ticket buyers and sellers within our online secondary ticket marketplace. Through the Resale segment, we acquire tickets from primary sellers, which are then sold through secondary ticket marketplaces. Revenues and contribution margin are used by our Chief Operating Decision Maker (“CODM”) to assess performance of the business. We define contribution margin as revenues less cost of revenues and marketing and selling expenses.

We do not report our assets, capital expenditures, or related depreciation and amortization expenses by segment, because our CODM does not use this information to evaluate the performance of our operating segments.

The following tables represent our segment information (in thousands):

	Three Months Ended June 30, 2022							Six Months Ended June 30, 2022
	Marketplace		Resale		Consolidated			Marketplace		Resale		Consolidated
Revenues	$	129,914	$	17,780	$	147,694		$	240,430	$	38,036	$	278,466
Cost of revenues (exclusive of depreciation and amortization shown separately below)		18,553		13,869		32,422			34,962		29,624		64,586
Marketing and selling		59,412		—		59,412			113,640		—		113,640
Contribution margin	$	51,949	$	3,911		55,860		$	91,828	$	8,412		100,240
General and administrative						36,207							65,482
Depreciation and amortization						1,726							3,111
Income from operations						17,927							31,647
Interest expense – net						2,699							6,641
Loss on extinguishment of debt						—							4,285
Other income						(8,832	)						(6,553	)
Income before income taxes					$	24,060						$	27,274

	Three Months Ended June 30, 2021						Six Months Ended June 30, 2021
	Marketplace		Resale		Consolidated		Marketplace		Resale		Consolidated
Revenues	$	104,648	$	10,850	$	115,498	$	126,641	$	12,971	$	139,612
Cost of revenues (exclusive of depreciation and amortization shown separately below)		13,707		6,279		19,986		16,407		7,504		23,911
Marketing and selling		46,422		—		46,422		54,377		—		54,377
Contribution margin	$	44,519	$	4,571		49,090	$	55,857	$	5,467		61,324
General and administrative						29,106						44,977
Depreciation and amortization						500						795
Income from operations						19,484						15,552
Interest expense – net						16,839						33,158
Income (Loss) before income taxes					$	2,645					$	(17,606	)

Substantially all of our sales occur, and assets reside, in the United States.