v3.25.1
Segment and Geographic Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
The Company is currently organized and operates as one operating and reportable segment on a consolidated basis. The Company’s revenues are supported by its searchable creative platform and driven by its large contributor network. The Company’s chief executive officer, who is its chief operating decision maker (“CODM”), evaluates the performance of the Company’s operating segment based on net income. The CODM considers budget-to-actual variances when making decisions about capital allocation to the segment. Asset information is not provided to the Company’s CODM as that information is not used in the determination of resource allocation or in assessing the performance of the Company’s segment.

The following table reconciles the company’s revenues and significant operating expense categories used to evaluate the business and allocate resources to Net income:
 Three Months Ended March 31,
  (in thousands)20252024
Revenue$242,620 $214,315 
Less:
Technology costs20,069 16,104 
Advertising costs21,663 26,125 
Adjusted cost of revenue1
89,432 78,323 
Adjusted sales and marketing1
30,522 28,887 
Adjusted product and development1
16,721 19,501 
Adjusted general and administrative1
54,012 28,629 
Total operating expenses232,419 197,569 
Income from operations10,201 16,746 
Interest expense(4,298)(562)
Other income, net14,515 4,206 
Income before income taxes20,418 20,390 
Provision for income taxes1,730 4,269 
Net income18,688 16,121 
1Excludes technology and advertising costs
The following represents the Company’s depreciation and amortization by expense category:
Three Months Ended March 31,
($ in thousands)20252024
Cost of revenue$20,742 $19,874 
General and administrative1,929 1,389 
Total depreciation and amortization$22,671 $21,263 
The following table presents the Company’s revenue based on customer location (in thousands): 
 Three Months Ended March 31,
 20252024
North America$120,208 $110,427 
Europe66,179 55,400 
Rest of the world56,233 48,488 
Total revenue$242,620 $214,315 
The United States, included in North America in the above table, accounted for 39% and 49% of consolidated revenue for the three months ended March 31, 2025 and 2024, respectively. No other country accounts for more than 10% of the Company’s revenue in any period presented.
The Company’s long-lived tangible assets were located as follows (in thousands):
As of March 31,As of December 31,
20252024
North America$42,826 $45,354 
Europe17,260 17,175 
Rest of the world5,538 3,871 
Total long-lived tangible assets$65,624 $66,400 
The United States, included in North America in the above table, accounted for 61% and 64% of total long-lived tangible assets as of March 31, 2025 and December 31, 2024, respectively. Ireland, included in Europe in the above table, accounted for 21% and 20% of total long-lived tangible assets as of March 31, 2025 and December 31, 2024, respectively. No other country accounts for more than 10% of the Company’s long-lived tangible assets in any period presented.