v3.25.2
Segment and Geographic Information
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended
June 30,
  (in thousands)2025202420252024
Revenue$266,990 $220,053 $509,610 $434,368 
Less:
Technology costs20,623 15,917 40,692 32,021 
Advertising costs21,765 19,272 43,428 45,397 
Adjusted cost of revenue1
94,861 81,893 184,293 160,216 
Adjusted sales and marketing1
34,019 31,386 64,541 60,273 
Adjusted product and development1
16,310 18,269 33,031 37,770 
Adjusted general and administrative1
44,681 32,650 98,693 61,279 
Total operating expenses232,259 199,387 464,678 396,956 
Income from operations34,731 20,666 44,932 37,412 
Interest expense(4,224)(561)(8,522)(1,123)
Other income, net12,624 (3,545)27,139 661 
Income before income taxes43,131 16,560 63,549 36,950 
Provision for income taxes13,691 12,935 15,421 17,204 
Net income$29,440 $3,625 $48,128 $19,746 
1Excludes technology and advertising costs
The following represents the Company’s depreciation and amortization by expense category:
Three Months Ended June 30,Six Months Ended
June 30,
($ in thousands)2025202420252024
Cost of revenue$20,804 $20,087 $41,546 $39,961 
General and administrative1,807 1,346 3,736 2,735 
Total depreciation and amortization$22,611 $21,433 $45,282 $42,696 
The following table presents the Company’s revenue based on customer location (in thousands): 
 Three Months Ended June 30,Six Months Ended
June 30,
 2025202420252024
North America$147,884 $120,120 $268,092 $230,547 
Europe64,389 53,373 130,568 108,773 
Rest of the world54,717 46,560 110,950 95,048 
Total revenue$266,990 $220,053 $509,610 $434,368 
The United States, included in North America in the above table, accounted for 42% and 50% of consolidated revenue for the six months ended June 30, 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 June 30,As of December 31,
20252024
North America$36,541 $45,354 
Europe18,718 17,175 
Rest of the world8,032 3,871 
Total long-lived tangible assets$63,291 $66,400 
The United States, included in North America in the above table, accounted for 53% and 64% of total long-lived tangible assets as of June 30, 2025 and December 31, 2024, respectively. Ireland, included in Europe in the above table, accounted for 24% and 20% of total long-lived tangible assets as of June 30, 2025 and December 31, 2024, respectively. Australia, included in Rest of the world in the above table, accounted for 13% of the total long-lived tangible assets as of June 30, 2025. No other country accounts for more than 10% of the Company’s long-lived tangible assets in any period presented.