v3.25.1
Subsequent Events
3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On May 7, 2025, the Company and certain of its subsidiaries entered into a definitive agreement with Tripledot and its affiliates to sell the Company’s mobile gaming business for total consideration consisting of $150.0 million in cash, a $250.0 million secured promissory note, and equity representing approximately 20% of Tripledot’s fully diluted equity capitalization at closing, subject to customary purchase price adjustments. The closing of the transaction is subject to regulatory approvals and other customary closing conditions.
The Company determined that the pending sale constitutes the disposal of substantially all of its Apps segment and represents a strategic shift that will have a major effect on its operations and financial results. Accordingly, the Company concluded that the Apps segment meets the criteria for classification as a discontinued operation under ASC 205-20, and will reflect the results of the Apps segment as a discontinued operation beginning in the second quarter of 2025.