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Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company leverages its Platform to build content verticals powered by anchor brands. The Company’s strategy is to focus on key subject matter verticals where audiences are passionate about a topic category where it can leverage the strength of its core brands to grow its audience and monetize editorially focused online content through various display and video advertisements that are viewed by internet users of the content.

The Company’s CODM is the Chief Executive Officer. The Company’s CODM reviews segment gross profit by vertical when evaluating performance and making resource allocation decisions rather than focusing on consolidated company net income, which resulted in a change to reportable segments. The prior period presented has been re-cast to reflect this change. Changes to the CODM in subsequent periods may result in a change to reportable segments. This segment profit measure is defined as segment revenue less segment cost of revenue, consisting of costs and expenses directly attributable to the segment. The Company has four reportable segments: Sports & Leisure, Finance, Lifestyle, and Platform. The Company’s reportable segments are organized in subject matter verticals that offer content on the respective topic.

Each of the reportable segments derives its revenue from digital advertising, digital subscriptions, performance marketing, publisher revenue, and licensing and publisher revenue.
The following tables summarize key financial information by segment:
Three Months Ended September 30, 2025
Sports & LeisureFinanceLifestylePlatformTotal
Digital advertising$4,875 $5,318 $6,268 $1,485 
Digital subscriptions— 1,499 — (7)
Publisher revenue2,350 502 1,934 709 
Performance Marketing910 1,900 1,233 — 
Other digital revenue80 — (1)212 
  Total digital revenue8,215 9,219 9,434 2,399 
Print revenue75 4 414 — 
Total revenue8,290 9,223 9,848 2,399 $29,760 
Less: (1)
External Cost of Content1,205 905 1,352 1,480 
Internal Cost of Content1,541 1,773 1,618 130 
Technology costs958 723 683 449 
Print, distribution and fulfillment costs— — 275 (373)
Other segment items— — — 18 
Segment gross profit$4,586 $5,822 $5,920 $695 $17,023 
Reconciliation of Segment Gross Profit to Income Before Income Taxes:
Less unallocated cost of revenue amounts:
   Internal cost of content(279)
   Technology costs931 
   Amortization of developed technology and platform development1,444 
Selling and marketing1,342 
General and administrative3,213 
Depreciation and amortization877 
Interest expense, net2,857 
Liquidated damages77 
Total unallocated costs10,462 
Income before income taxes$6,561 
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
Three months ended September 30, 2024
Sports & LeisureFinanceLifestylePlatform
Digital advertising$11,425 $3,585 $5,612 $2,446 
Digital subscriptions— 1,806 — — 
Publisher revenue803 149 631 150 
Performance Marketing641 1,444 963 — 
Other digital revenue105 21 3 3,248 
  Total digital revenue12,974 7,005 7,209 5,844 
Print revenue260 — 263 — 
Total revenue13,234 7,005 7,472 5,844 $33,555 
Less: (1)$0$0$0$0
External Cost of Content2,565 39 323 1,862 
Internal Cost of Content2,615 1,625 1,795 (6)
Technology costs1,446 432 594 313 
Print, distribution and fulfillment costs91 — (46)— 
Other segment items157 — 1 — 
Segment gross profit$6,360 $4,909 $4,805 $3,675 $19,749 
Reconciliation of Segment Gross Profit to Income Before Income Taxes:
Less unallocated cost of revenue amounts:
   Internal cost of content84 
   Technology costs1,198 
   Amortization of developed technology and platform development1,474 
Selling and marketing2,011 
General and administrative6,023 
Depreciation and amortization905 
Interest expense, net3,159 
Liquidated damages77 
Total unallocated costs14,931 
Income before income taxes$4,818 
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
Nine Months Ended September 30, 2025
Sports & LeisureFinanceLifestylePlatform
Digital advertising$27,104 $17,531 $20,244 $6,577 
Digital subscriptions— 4,627 — 15 
Publisher revenue6,601 1,602 4,552 1,465 
Performance Marketing3,516 6,651 4,396 — 
Other digital revenue127 — — 634 
  Total digital revenue37,348 30,411 29,192 8,691 
Print revenue128 7 810 — 
Total revenue37,476 30,418 30,002 8,691 $106,587 
Less: (1)
External Cost of Content6,353 2,859 3,534 4,918 
Internal Cost of Content5,273 5,659 6,024 191 
Technology costs2,880 1,784 1,748 1,133 
Print, distribution and fulfillment costs(46)— 571 (659)
Other segment items4 2 — 18 
Segment gross profit$23,012 $20,114 $18,125 $3,090 $64,341 
Reconciliation of Segment Gross Profit to Income Before Income Taxes:
Less unallocated cost of revenue amounts:
   Internal cost of content906 
   Technology costs3,576 
   Amortization of developed technology and platform development3,828 
Selling and marketing5,418 
General and administrative14,696 
Depreciation and amortization2,648 
Interest expense, net8,806 
Liquidated damages228 
Total unallocated costs40,106 
Income before income taxes$24,235 
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
Nine months ended September 30, 2024
Sports & LeisureFinanceLifestylePlatformTotal
Digital advertising$30,149 $10,574 $17,945 $7,867 
Digital subscriptions— 5,497 — 13 
Publisher revenue2,845 855 1,757 661 
Performance Marketing1,697 1,950 1,610 — 
Other digital revenue883 88 25 3,714 
  Total digital revenue35,574 18,964 21,337 12,255 
Print revenue672 — 877 — 
Total revenue36,246 18,964 22,214 12,255 $89,679 
$0$0$0$0
Less: (1)$0$0$0$0
External Cost of Content8,651 137 586 5,884 
Internal Cost of Content6,898 4,912 5,423 126 
Technology costs3,039 1,720 1,482 805 
Print, distribution and fulfillment costs246 — 396 — 
Other segment items251 — 3 — 
Segment gross profit$17,161 $12,195 $14,324 $5,440 $49,120 
Reconciliation of Segment Gross Profit to Income (Loss) Before Income Taxes:
Less unallocated cost of revenue amounts:
   Internal cost of content2,224 
   Technology costs5,722 
   Amortization of developed technology and platform development4,530 
Selling and marketing10,326 
General and administrative24,790 
Depreciation and amortization2,805 
Interest expense, net11,747 
Loss on impairment of assets1,198 
Change in valuation of contingent consideration313 
Liquidated damages229 
Loss on sale of assets— 
Total unallocated costs63,884 
Income (loss) before income taxes$(14,764)
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
The Company’s long-lived assets, consisting of property and equipment, and operating leases, are located in the United States. No asset information is provided to the CODM.