Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Segment Reporting Information, by Segment

The following tables summarize the operating results of the Company's reportable segments. Segment cost of services, Segment sales and marketing, and Segment general and administrative expenses presented below exclude the allocation of depreciation and amortization expense, stock-based compensation expense, restructuring and integration expenses, transaction costs and other expenses.


	Three Months Ended June 30, 2025
(in thousands)	SaaS		Marketing Services		Total
Segment revenue	$	115,005	$	95,465	$	210,470
Less:
Segment cost of services	29,884		29,929		59,813
Segment sales and marketing	39,581		19,722		59,303
Segment general and administrative	22,147		17,975		40,122
Segment Adjusted EBITDA	$	23,393	$	27,839	$	51,232


	Three Months Ended June 30, 2024
(in thousands)	SaaS		Marketing Services		Total
Segment revenue	$	77,794	$	146,290	$	224,084
Less:
Segment cost of services	23,552		45,905		69,457
Segment sales and marketing	32,021		26,249		58,270
Segment general and administrative	12,056		24,987		37,043
Segment Adjusted EBITDA	$	10,165	$	49,149	$	59,314


	Six Months Ended June 30, 2025
(in thousands)	SaaS		Marketing Services		Total
Segment revenue	$	226,134	$	165,707	$	391,841
Less:
Segment cost of services	59,560		57,957		117,517
Segment sales and marketing	85,381		37,192		122,573
Segment general and administrative	46,985		32,633		79,618
Segment Adjusted EBITDA	$	34,208	$	37,925	$	72,133


	Six Months Ended June 30, 2024
(in thousands)	SaaS		Marketing Services		Total
Segment revenue	$	152,116	$	305,592	$	457,708
Less:
Segment cost of services	47,016		96,475		143,491
Segment sales and marketing	67,052		55,167		122,219
Segment general and administrative	24,448		54,122		78,570
Segment Adjusted EBITDA	$	13,600	$	99,828	$	113,428

Schedule of Reconciliation of Earnings Before Interest, Tax, Depreciation, and Amortization from Segments to Consolidated

A reconciliation of the Company’s Income before income tax expense to total Segment Adjusted EBITDA is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2025		2024		2025		2024
Income before income tax expense	$	22,367	$	12,166	$	9,884	$	25,987
Interest expense	8,952		12,175		18,025		25,534
Depreciation and amortization expense	10,191		14,072		21,707		28,625
Stock-based compensation expense	6,008		6,353		13,745		11,642
Restructuring and integration expenses	5,493		7,553		10,175		12,818

Other components of net periodic pension cost	778		1,581		1,546		3,162
Loss on early extinguishment of debt	—		6,638		—		6,638


Other	(2,557)		(1,224)		(2,949)		(978)
Total Segment Adjusted EBITDA	$	51,232	$	59,314	$	72,133	$	113,428

Schedule of Disaggregation of Revenue

The following table sets forth the Company's disaggregation of Revenue based on type of service for the periods indicated:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2025		2024		2025		2024
SaaS	$	115,005	$	77,794	$	226,134	$	152,116
Marketing Services
Print	67,003		82,631		104,714		167,267
Digital	28,462		63,659		60,993		138,325
Total Marketing Services	95,465		146,290		165,707		305,592
Revenue	$	210,470	$	224,084	$	391,841	$	457,708

Revenue by geography is based on the location of the client. The following table sets forth the Company's disaggregation of Revenue based on geographic region for the periods indicated:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2025		2024		2025		2024
United States	$	172,134	$	178,129	$	318,247	$	374,569
International (1)	38,336		45,955		73,594		83,139
Revenue	$	210,470	$	224,084	$	391,841	$	457,708