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Segment Reporting
 12 Months Ended
Dec. 31, 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 chief operating decision maker (“CODM”) is the Chief Executive Officer. The Company’s reportable segments are organized in the subject matter verticals that offer content on the respective topics by brand. The Company has four reportable segments: Sports & Leisure, Finance, Lifestyle, and Platform & Other. Segment profit measure is segment gross profit defined as segment revenue less segment cost of revenue, consisting of costs and expenses directly attributable to the segment. The brand Men's Journal is organized under the subject matter vertical of Sports & Leisure for the year ending December 31, 2025. Accordingly, segment‑level year‑over‑year comparisons reflect this reclassification, with prior periods recast to conform to the current‑period presentation.
Each of the reportable segments derives its revenue from digital advertising, digital subscriptions, performance marketing, publisher revenue, and licensing and publisher revenues as described above in Note 2.
The following tables summarize key financial information by segment:
For the Year Ended December 31, 2025
Sports & LeisureFinanceLifestylePlatform & OtherTotal
Digital advertising$32,156 $21,740 $25,154 $7,894 
Digital subscriptions– 5,833 – 15 
Publisher revenue9,380 2,268 5,995 1,849 
Performance Marketing5,213 8,394 6,031 1 
Other digital revenue361 6 15 1,502 
Total digital revenue47,110 38,241 37,195 11,261 
Print revenue211 9 801 – 
Total revenue47,321 38,250 37,996 11,261 $134,828 
Less: (1)
External Cost of Content7,882 3,860 4,740 6,338 
Internal Cost of Content6,918 7,313 7,770 393 
Technology costs3,939 2,085 2,290 1,511 
Print, distribution and fulfillment costs(696)– 589 – 
Other segment items (2)9 2 1 458 
Segment gross profit$29,269 $24,990 $22,606 $2,561 79,426 
Reconciliation of Segment Gross Profit to Income Before Income Taxes:
Unallocated cost of revenue amounts:
Internal cost of content1,204 
Technology costs4,455 
Amortization of developed technology and platform development5,418 
Selling and marketing7,033 
General and administrative17,056 
Depreciation and amortization3,469 
Interest expense, net11,358 
Liquidated damages305 
Total unallocated costs50,298 
Income before income taxes$29,128 
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
(2)Other segment items are primarily comprised of inventory procurement and shipping fulfillment costs.
For the Year Ended December 31, 2024
Sports & LeisureFinanceLifestylePlatform & OtherTotal
Digital advertising$42,645 $14,475 $24,813 $11,075 
Digital subscriptions– 7,760 – 40 
Publisher revenue3,524 1,140 2,452 798 
Performance Marketing2,965 4,207 3,755 – 
Other digital revenue991 152 96 3,946 
Total digital revenue50,125 27,734 31,116 15,859 
Print revenue706 – 367 – 
Total revenue50,831 27,734 31,483 15,859 $125,907 
Less: (1)
External Cost of Content11,255 163 758 8,072 
Internal Cost of Content9,739 6,847 7,460 36 
Technology costs4,840 2,376 2,368 1,361 
Print, distribution and fulfillment costs312 – 578 – 
Other segment items (2)293 – (34)– 
Segment gross profit$24,392 $18,348 $20,353 $6,390 69,483 
Reconciliation of Segment Gross Profit to Income (Loss) Before Income Taxes:
Less unallocated cost of revenue amounts:
Internal cost of content2,021 
Technology costs5,756 
Amortization of developed technology and platform development5,988 
Selling and marketing12,548 
General and administrative30,399 
Depreciation and amortization3,704 
Interest expense, net14,668 
Loss on impairment of assets1,198 
Change in valuation of contingent consideration313 
Liquidated damages306 
Total unallocated costs76,901 
Loss before income taxes$(7,418)
(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
(2)Other segment items primarily consist of sponsored content costs.
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.