v3.25.1
Discontinued Operations (Tables)
 3 Months Ended
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures
The following table summarizes the results of operations of marketing technology solutions reported as discontinued operations:
Three months ended
March 31,
20252024
(in thousands)
Total revenues
$28,632 $32,261 
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization presented separately below)20,661 25,292 
Sales and marketing2,702 2,204 
Product development1,086 894 
General and administrative2,283 2,149 
Depreciation and amortization1,191 2,047 
Loss on held for sale and impairments
9,433 (11)
Total operating expenses37,356 32,575 
Operating loss
(8,724)(314)
Other income, net
3 — 
Net loss before income tax benefit
(8,721)(314)
Income tax benefit
74 — 
Loss from discontinued operations, net of income tax
$(8,647)$(314)
The components of assets and liabilities classified as held for sale on our condensed consolidated balance sheets were as follows:
March 31,December 31,
20252024
(in thousands)
Assets:
Accounts receivable, net9,302 9,065 
Contract assets462 474 
Prepaid expenses and other current assets2,104 1,883 
Property and equipment, net504 529 
Capitalized software, net2,274 2,071 
Other non-current assets3,399 3,359 
Intangible assets, net14,670 15,668 
Goodwill16,288 23,152 
Total assets49,003 56,201 
Valuation allowance(2,568)— 
Assets held for sale$46,435 $56,201 
Liabilities:
Accounts payable$978 $1,442 
Accrued expenses and other9,187 7,659 
Deferred revenue4,592 3,009 
Customer deposits261 2,188 
Other long-term liabilities608 973 
Liabilities held for sale15,626 15,271 
Assets held for sale, net$30,809 $40,930 
The amount identified as valuation allowance in the above table is the amount necessary to reduce the carrying value of the marketing technology disposal group to estimated fair value less cost to sell as required by applicable accounting standards for discontinued operations measurement.
The following table presents the significant non-cash items related to discontinued operations that are included in the accompanying statements of cash flows:
Three months ended
March 31,
20252024
(in thousands)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization$1,191 $2,047 
Share-based compensation182 166 
Loss on assets held for sale and impairments
9,433 (11)