Segment Information

9 Months Ended

Sep. 30, 2022

Segment Information

Segment Information

Note 13 — Segment Information

Operating segments are components of an enterprise for which separate financial information is available and is evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker is its Chairman and Chief Executive Officer. The Company views its business as two reportable segments, buy-side advertising, which includes the results of Huddled Masses and Orange142, and sell-side advertising, which includes the results of Colossus Media. All of the Company’s revenues are attributed to the United States.

Revenue by business segment is as follows:

	For the Three Months				For the Nine Months
	Ended				Ended
	September 30,				September 30,
	2022		2021		2022		2021
Buy-side advertising	$	7,130,736	$	6,033,883	$	22,283,044	$	19,975,235
Sell-side advertising		18,854,639		2,326,862		36,333,976		5,261,135
Total revenues	$	25,985,375	$	8,360,745	$	58,617,020	$	25,236,370

Operating income (loss) by business segment reconciled to income before taxes is as follows:

	For the Three Months				For the Nine Months
	Ended				Ended
	September 30,				September 30,
	2022		2021		2022		2021
Buy-side advertising	$	1,357,635	$	1,096,764	$	5,620,194	$	4,705,408
Sell-side advertising		2,365,495		115,453		4,599,629		277,293
Corporate office expenses		(1,878,306)		(645,305)		(4,725,981)		(1,921,973)
Total operating income		1,844,824		566,912		5,493,842		3,060,728
Corporate other expense		(905,605)		(792,400)		(2,525,207)		(2,382,149)
Income before taxes	$	939,219	$	(225,488)	$	2,968,635	$	678,579

Total assets by business segment are as follows:

	As of		As of
	September 30,		December 31,
	2022		2021
Buy-side advertising	$	26,454,069	$	25,648,105
Sell-side advertising		22,597,857		8,277,575
Corporate office expenses		4,748,575		2,074,253
Total assets	$	53,800,501	$	35,999,933