LICENSE AND MEDIA RIGHTS |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LICENSE AND MEDIA RIGHTS | LICENSE AND MEDIA RIGHTS MLB Promotion Rights Agreement On October 11, 2022, the Company entered into a Promotional Rights Agreement (the "MLB Promotional Rights Agreement") with MLB Advanced Media L.P., on its own behalf and on behalf of Major League Baseball Properties, Inc., the Office of the Commissioner of Baseball, The MLB Network, LLC and the Major League Baseball Clubs (collectively, the "MLB"), pursuant to which the Company entered into a strategic partnership with MLB to promote the Company's new NSF-Certified for Sport® product line. On May 13, 2025, the Company and MLB entered into a letter agreement ("PRA Letter Agreement") terminating the MLB Promotional Rights Agreement as of May 13, 2025 and waives the Company's obligation to pay the current and remaining aggregate rights fee of $18 million for the remainder of the term of the MLB Promotional Rights Agreement. As consideration under the MLB promotional rights agreement, the Company has paid a combination of cash over the license period, along with upfront non-cash consideration in the form of equity, as well as contingent consideration in the form of contingent payments based on revenue. As of March 31, 2025 and December 31, 2024, the carrying value of the licensed properties was $10,717 and $11,691, respectively, recorded as a license and media rights asset within the condensed consolidated balance sheets. As of March 31, 2025 and December 31, 2024, the carrying value of the media rights was $3,000, respectively, recorded as a prepaid asset and a license and media rights asset within the condensed consolidated balance sheets. For the three months ended March 31, 2025 and March 31, 2024, the Company paid the MLB $0 and $2,500, respectively, as part of the committed cash payments, and recognized $974, respectively, in amortization expense related to the license and media right assets. Licensed properties are amortized straight line and media rights are amortized as incurred. The PRA Letter Agreement terminates the MLB Promotional Rights Agreement and waives the Company's obligation to pay the current and remaining aggregate rights fee of $18 million for the remainder of the term. Maturities of the MLB license and media rights payable as of March 31, 2025 are as follows:
As of March 31, 2025, expected amortization of licensed properties are as follows:
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