v3.25.2
Segments and Geographic Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segments and Geographic Information Segments and Geographic Information
The Company has one operating segment as of June 30, 2025 and 2024, the streaming business. Substantially all of the tangible long-lived assets are located in the United States.
Total revenue
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
United States$363,751 $376,010 $763,017 $762,793 
Rest of world16,217 14,955 33,237 30,519 
Total revenue$379,968 $390,965 $796,254 $793,312 
The Company’s method for measuring profitability includes gross profit and net income (loss) from continuing operations, which the CODM uses to assess performance and make decisions for resource allocation. Gross Profit is defined as revenue less subscriber related expenses and broadcasting and transmission. Net income (loss) from continuing operations is consistent with the measurement principals for net income (loss) from continuing operations as reported on the Company’s consolidated statement of operations and comprehensive income (loss).
The following table provides the significant expenses and gross profit with a reconciliation to net income (loss) from continuing operations for the periods indicated, which are regularly reviewed by the CODM (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Total revenue$379,968 $390,965 $796,254 $793,312 
Gross profit (1)
77,689 49,293 146,920 76,970 
Significant expenses:
Sales and marketing (2)
27,806 31,213 67,810 69,686 
Technology and development (2)
16,624 16,718 33,489 32,880 
General and administrative (2)
20,883 17,289 45,363 31,485 
Other segment (income) expenses (3)
20,402 9,906 (180,204)25,081 
Net income (loss) from continuing operations
(8,026)(25,833)180,462 (82,162)
(1) Gross profit is calculated as total revenue less Subscriber related expenses and Broadcasting and transmission expenses.
(2) Sales and marketing, Technology and development, and General and administrative expense categories regularly provided to the CODM exclude stock-based compensation.
(3) Other segment expenses include depreciation and amortization, stock-based compensation expense, interest expense, interest income, amortization of debt premium, net, gain on settlement of litigation, net, gain on extinguishment of debt, other income (expense) and provision for income taxes.