Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The table below sets forth the loss from discontinued operations:

	Three Months Ended March 31,
	2024			2023
Revenue	$	21,848		$	22,962
Cost of revenue		13,981			11,945
Gross profit		7,867			11,017
Operating expense
Selling and marketing		11,503			12,122
General and administrative(1)		45,192			78
Depreciation and amortization		2,401			3,670
Loss on impairment of assets		39,391			-
Total operating expenses		98,487			15,870
Loss from discontinued operations		(90,620	)		(4,853	)
Income tax benefit		(18	)		-
Net loss from discontinued operations	$	(90,638	)	$	(4,853	)

(1) Includes $45,000 termination fee liability.

The table below sets forth the major classes of assets and liabilities of the discontinued operations:

	As of
	March 31, 2024		December 31, 2023
Assets
Accounts receivable, net	$	5,691	$	13,135
Subscription acquisition costs, current portion		-		29,706
Prepayments and other current assets		-		807
Current assets from discontinued operations		5,691		43,648
Subscription acquisition costs, net of current portion		-		7,215
Acquired and other intangibles assets, net		-		11,002
Noncurrent assets from discontinued operations		-		18,217
Total assets from discontinued operations	$	5,691	$	61,865
Liabilities
Accounts payable	$	1,458	$	2,554
Accrued expenses and other		2,406		1,868
Subscription refund liability		423		403
Royalty fee liability		3,750		-
Termination fee liability		45,000		-
Subscription liability, current portion		45,837		42,848
Current liabilities from discontinued operations		98,874		47,673
Subscription liability, net of current portion		-		10,137
Noncurrent liabilities from discontinued operations		-		10,137
Total liabilities from discontinued operations	$	98,874	$	57,810

The table below sets forth the cash flows of the discontinued operations:

	Three Months Ended March 31,
	2024			2023
Cash flows from operating activities from discontinued operations
Net loss from discontinued operations	$	(90,638	)	$	(4,853	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of intangible assets		2,401			3,670
Loss on impairment of assets		39,391			-
Stock-based compensation		538			190
Change in operating assets and liabilities:
Accounts receivable, net		7,444			5,000
Subscription acquisition costs		6,131			(4,304	)
Prepayments and other current assets		807			190
Accounts payable		2,654			229
Accrued expenses and other		538			118
Subscription refund liability		20			(150	)
Subscription liability		(7,148	)		4,233
Termination fee liability		45,000			-
Net cash used in operating activities from discontinued operations	$	7,138		$	4,323