v3.25.2
SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Summarized Information by Operating Segment
Summarized EBITDA information by operating segment consists of the following (in millions):
Three Months Ended June 30,
 20252024
North AmericaInternationalTotalNorth AmericaInternationalTotal
Revenues(1)
$744.0 $37.3 $781.3 $643.8 $34.0 $677.8 
Less:
Personnel357.2 24.9 382.1 268.9 24.9 293.8 
Marketing204.1 17.0 221.1 215.9 19.1 235.0 
General and administrative (2)
139.4 10.1 149.5 128.2 8.7 136.9 
EBITDA
$43.3 $(14.7)$28.6 $30.8 $(18.7)$12.1 
__________________________
(1) See Note 3 for details of revenue disaggregated by segment.
(2) Excludes personnel costs.
Six Months Ended June 30,
 20252024
North AmericaInternationalTotalNorth AmericaInternationalTotal
Revenues(1)
$1,441.4 $72.1 $1,513.5 $1,267.1 $67.1 $1,334.2 
Less:
Personnel677.8 46.4 724.2 545.7 48.1 593.8 
Marketing407.5 29.6 437.1 438.5 36.4 474.9 
General and administrative (2)
303.7 20.7 324.4 248.9 17.2 266.1 
EBITDA$52.4 $(24.6)$27.8 $34.0 $(34.6)$(0.6)
__________________________
(1) See Note 3 for details of revenue disaggregated by segment.
(2) Excludes personnel costs.
The following summarizes stock-based compensation, which is a significant non-cash item included in the personnel costs above, by segment (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
North America
$50.2 $21.1 $79.2 $43.0 
International
1.6 1.5 3.0 2.5 
Total
$51.8 $22.6 $82.2 $45.5 
Schedule of Reconciliation of Net (Loss) Income to EBITDA
The reconciliation of EBITDA to income before income taxes consists of the following (in millions):
Three Months Ended
June 30,		Six Months Ended
June 30,
 2025202420252024
EBITDA
$28.6 $12.1 $27.8 $(0.6)
Amortization of acquired intangible assets in cost of revenues(17.1)(7.9)(27.6)(16.7)
Amortization of acquired intangible assets in operating expenses(26.5)(10.2)(43.7)(21.2)
Depreciation and other amortization(12.2)(10.1)(26.5)(20.4)
Interest income, net
32.5 53.5 71.0 109.7 
Other income (expense), net (1)
16.3 (1.5)13.9 (3.4)
Income before income taxes
$21.6 $35.9 $14.9 $47.4 
__________________________
(1) Includes $8.5 million and $8.3 million of depreciation and amortization expense including above-market lease amortization associated with lessor activities for the three months ended June 30, 2025 and 2024, respectively, and $13.5 million and $13.8 million for the six months ended June 30, 2025 and 2024, respectively.
Schedule of Summarized Information by Operating Segment, Assets and Liabilities
Summarized information by operating segment consists of the following (in millions):
June 30,
2025		December 31,
2024
Property and equipment, net
North America$1,172.6 $1,006.7 
International34.1 8.2 
Total property and equipment, net$1,206.7 $1,014.9 
Goodwill
North America$3,436.1 $2,297.2 
International253.5 230.4 
Total goodwill$3,689.6 $2,527.6 
Assets
North America$9,719.7 $8,852.0 
International787.4 404.8 
Total assets$10,507.1 $9,256.8 
Liabilities
North America$1,798.6 $1,603.0 
International107.1 100.3 
Total liabilities$1,905.7 $1,703.3