Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Financial Information by Segment

The following tables summarize key financial information by segment:


	For the Three Months Ended June 30, 2025
	Sports & Leisure		Finance		Lifestyle		Platform		Total
Digital advertising	$	12,513	$	8,254	$	8,812	$	2,114
Digital subscriptions	—		1,479		—		—
Publisher revenue	2,619		646		1,757		599
Performance Marketing	1,499		2,715		1,516		—
Other digital revenue	39		—		1		204
Total digital revenue	16,670		13,094		12,086		2,917
Print revenue	53		3		189		—
Total revenue	16,723		13,097		12,275		2,917		$	45,012

Less: (1)
External Cost of Content	3,176		1,869		2,055		1,527
Internal Cost of Content	1,736		1,636		2,025		53
Technology costs	964		524		557		333
Print, distribution and fulfillment costs	(47)		—		120		(286)
Other segment items	4		—		—		—
Segment gross profit	$	10,890	$	9,068	$	7,518	$	1,290	$	28,766

Reconciliation of Segment Gross Profit to Net Income Before Income Taxes:
Less unallocated cost of revenue amounts:
Internal cost of content									825
Technology costs									1,398
Amortization of developed technology and platform development									1,108
Selling and marketing									1,942
General and administrative									6,200
Depreciation and amortization									881
Interest expense, net									2,945
Liquidated damages									76
Total unallocated costs									15,375
Net income before income taxes									$	13,391

(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.


	For the Three Months Ended June 30, 2024
	Sports & Leisure		Finance		Lifestyle		Platform		Total
Digital advertising	$	7,670	$	3,588	$	6,588	$	2,873
Digital subscriptions	—		1,373		—		(3)
Publisher revenue	985		366		661		270
Performance Marketing	762		304		471		—
Other digital revenue	228		59		13		222
Total digital revenue	9,645		5,690		7,733		3,362
Print revenue	139		—		614		—
Total revenue	9,784		5,690		8,347		3,362		$	27,183

Less: (1)
External Cost of Content	1,807		46		184		2,075
Internal Cost of Content	2,070		1,595		1,693		54
Technology costs	1,088		655		704		311
Print, distribution and fulfillment costs	5		—		348		—
Other segment items	68		—		—		—
Segment gross profit	$	4,746	$	3,394	$	5,418	$	922	$	14,480

Reconciliation of Segment Gross Profit to Net Income Before Income Taxes:
Less unallocated cost of revenue amounts:
Internal cost of content									882
Technology costs									1,373
Amortization of developed technology and platform development									1,507
Selling and marketing									3,751
General and administrative									8,632
Depreciation and amortization									913
Interest expense, net									4,249
Liquidated damages									76
Total unallocated costs									21,383
Net income before income taxes									$	(6,903)

(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.


	For the Six Months Ended June 30, 2025
	Sports & Leisure		Finance		Lifestyle		Platform		Total
Digital advertising	$	22,229	$	12,213	$	13,976	$	5,092
Digital subscriptions	—		3,128		—		22
Publisher revenue	4,251		1,100		2,618		756
Performance Marketing	2,606		4,751		3,163		—
Other digital revenue	47		—		1		422
Total digital revenue	29,133		21,192		19,758		6,292
Print revenue	53		3		396		—
Total revenue	29,186		21,195		20,154		6,292		$	76,827

Less: (1)
External Cost of Content	5,148		1,954		2,182		3,438
Internal Cost of Content	3,732		3,886		4,406		61
Technology costs	1,922		1,061		1,065		684
Print, distribution and fulfillment costs	(46)		—		296		(286)
Other segment items	4		2		—		—
Segment gross profit	$	18,426	$	14,292	$	12,205	$	2,395	$	47,318

Reconciliation of Segment Gross Profit to Net Income Before Income Taxes:
Less unallocated cost of revenue amounts:
Internal cost of content									1,185
Technology costs									2,645
Amortization of developed technology and platform development									2,384
Selling and marketing									4,076
General and administrative									11,483
Depreciation and amortization									1,771
Interest expense, net									5,949
Liquidated damages									151
Total unallocated costs									29,644
Net income before income taxes									$	17,674

(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.


	For the Six Months Ended June 30, 2024
	Sports & Leisure		Finance		Lifestyle		Platform		Total
Digital advertising	$	18,724	$	6,989	$	12,333	$	5,421
Digital subscriptions	—		3,691		—		13
Publisher revenue	2,042		706		1,126		511
Performance Marketing	1,056		506		647		—
Other digital revenue	778		67		22		466
Total digital revenue	22,600		11,959		14,128		6,411
Print revenue	412		—		614		—
Total revenue	23,012		11,959		14,742		6,411		$	56,124

Less: (1)
External Cost of Content	6,086		98		263		4,022
Internal Cost of Content	4,283		3,287		3,628		132
Technology costs	1,593		1,288		888		492
Print, distribution and fulfillment costs	155		—		442		—
Other segment items	94		—		2		—
Segment gross profit	$	10,801	$	7,286	$	9,519	$	1,765	$	29,371

Reconciliation of Segment Gross Profit to Net Loss Before Income Taxes:
Less unallocated cost of revenue amounts:
Internal cost of content									2,140
Technology costs									4,524
Amortization of developed technology and platform development									3,056
Selling and marketing									8,315
General and administrative									18,767
Depreciation and amortization									1,900
Interest expense, net									8,588
Loss on impairment of assets									1,198
Change in valuation of contingent consideration									313
Liquidated damages									152
Loss on sale of assets									—
Total unallocated costs									48,953
Net income (loss) before income taxes									$	(19,582)

(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.