Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The table below sets forth the income (loss) from discontinued operations:

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Revenue (1)	$	45,107	$	404	$	45,107	$	22,252
Cost of revenue (2)	(1,344)		865		(1,367)		14,846
Gross profit (loss)	46,451		(461)		46,474		7,406
Operating expenses:
Selling and marketing (2)	(805)		499		(805)		12,002
General and administrative (3)	(48,971)		301		(48,971)		45,493
Depreciation and amortization	—		—		—		2,401
Loss on impairment of assets (4)	—		—		—		39,391
Total operating expenses (income)	(49,776)		800		(49,776)		99,287
Income (loss) from discontinued operations	96,227		(1,261)		96,250		(91,881)
Income tax provision	—		12		—		(6)
Net income (loss) from discontinued operations	$	96,227	$	(1,249)	$	96,250	$	(91,887)

(1)    Revenue for the three and six months ended June 30, 2025 include the derecognition of SI related subscription liabilities of $45,107 for which the Company has no remaining obligations.    

(2)    Cost of revenue and selling and marking expenses for the three and six months ended June 30, 2025, include adjustments to previously reported accounts payable that were settled for a reduced amount.

(3) General and administrative expenses for the three and six months ended June 30, 2025, include a reversal of SI business related liabilities, including a $45,000 termination fee liability (recorded in the six months ended June 30, 2024), a $3,750 royalty fee liability and $221 of previously reported accounts payable that was settled for a reduced amount.

(4)     Loss on impairment of assets for the six months ended June 30, 2024 of $39,391, includes $8,601 for the impairment of intangible assets and $30,790 for the impairment of subscription acquisition costs.

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

	As of
	June 30, 2025		December 31, 2024
Liabilities
Accounts payable	$	—	$	1,783
Accrued expenses and other	—		519
Subscription refund liability	—		423
Royalty fee liability (1)	—		3,750
Termination fee liability (1)	—		45,000
Subscription liability	—		44,684
Current/total liabilities from discontinued operations	$	—	$	96,159

(1)     Further details related to the royalty fee liability of $3,750 and termination fee liability of $45,000 are described under the heading ABG Group Legal Matters in Note 18.

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

	Six Months Ended June 30,
	2025		2024
Cash flows from operating activities from discontinued operations
Net income (loss) from discontinued operations	$	96,250	$	(91,887)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of intangible assets	—		2,401
Loss on impairment of assets	—		39,391
Stock-based compensation	—		564
Change in operating assets and liabilities:
Accounts receivable, net	—		12,121
Subscription acquisition costs	—		6,131
Prepayments and other current assets	—		807
Accounts payable	(1,783)		2,931
Accrued expenses and other	(519)		(203)
Subscription refund liability	(423)		20
Subscription liability	(44,684)		(8,042)
Royalty fee liability	(3,750)		—
Termination fee liability	(45,000)		45,000
Net cash provided by operating activities from discontinued operations	$	91	$	9,234