Segments (Tables)

Operating income (loss) of the Company’s segments was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Subscription business:
Revenue	$	242,156	$	208,618	$	475,220	$	409,752
Veterinary invoice expense	172,874		155,480		341,055		307,835
Other cost of revenue	22,614		20,260		44,278		40,036
Technology and development	5,881		5,428		11,381		9,998
General and administrative	13,782		10,108		27,339		19,749
New pet acquisition expense	19,768		17,862		40,280		34,688
Depreciation and amortization	2,714		2,900		5,297		5,385
Subscription business operating income (loss)	4,523		(3,420)		5,590		(7,939)

Other business:
Revenue	111,401		106,182		220,312		211,169
Veterinary invoice expense	82,706		75,622		161,975		156,836
Other cost of revenue	20,536		23,169		42,294		39,718
Technology and development	2,705		2,762		5,277		5,152
General and administrative	6,340		5,145		12,675		10,177
New pet acquisition expense	75		12		79		29
Depreciation and amortization	1,248		1,476		2,456		2,776
Other business operating loss	(2,209)		(2,004)		(4,444)		(3,519)
Loss from investment in joint venture	—		(47)		(305)		(150)
Operating income (loss)	2,314		(5,471)		841		(11,608)
Interest expense	3,682		3,655		6,893		7,251
Other (income), net	(11,914)		(3,220)		(15,154)		(6,063)
Income (loss) before income taxes	$	10,546	$	(5,906)	$	9,102	$	(12,796)

The following table presents the Company’s revenue by geographic region of the member (in thousands):