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Segment Reporting
 9 Months Ended
Sep. 30, 2026
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. 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 & Other. 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, publisher revenue, performance marketing, and other digital revenue.
The following tables summarize key financial information by segment:
Three Months Ended September 30, 2026
Sports & LeisureFinanceLifestylePlatform & OtherTotal
Digital advertising$3,949 $3,372 $4,439 $580 
Digital subscriptions— 750 — 34 
Publisher revenue1,384 697 898 230 
Performance Marketing640 904 1,234 14 
Other digital revenue307 62 32 911 
Total digital revenue6,280 5,785 6,603 1,769 
Print revenue13 — 94 — 
Total revenue6,293 5,785 6,697 1,769 $20,544 
Less: (1)
External Cost of Content980 742 992 537 
Internal Cost of Content1,590 1,071 1,457 311 
Technology costs698 326 416 277 
Print, distribution and fulfillment costs11 — 71 — 
Other segment items (2)5 — — 462 
Segment gross profit$3,009 $3,646 $3,761 $182 10,598 
Reconciliation of Segment Gross Profit to Loss Before Income Taxes:
Less unallocated cost of revenue amounts:
Internal cost of content564 
Technology costs2,464 
Amortization of developed technology and platform development1,058 
Selling and marketing2,168 
General and administrative4,267 
Depreciation and amortization1,007 
Interest expense, net2,473 
Liquidated damages77 
Total unallocated costs14,078 
Loss before income taxes$(3,480)
(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.
Three Months Ended September 30, 2025
Sports & LeisureFinanceLifestylePlatform & OtherTotal
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.