v3.25.4
SEGMENT AND GEOGRAPHICAL INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHICAL INFORMATION SEGMENT AND GEOGRAPHICAL INFORMATION
In accordance with ASC Topic 280, Segment Reporting, we disaggregate our operations into two operating and reportable segments: North America and International based on geographically distinct market dynamics. The segment information below reflects the operating results that are regularly provided to and are reviewed by our CODM, who is our CEO, to assess performance and make resource allocation decisions. Our segment information is based on the "management" approach. The "management" approach, as defined within ASC Topic 280, designates the internal reporting used by the CODM for making decisions and assessing performance as the source of our reportable segments. Our measure of segment profitability is contribution profit, defined as net revenues less cost of sales and marketing expenses, as presented below, and is regularly provided to and reviewed by the CODM to allocate resources and assess performance. The CODM assesses our segments’ performance based on contribution profit predominantly in the monthly budget-to-actual variances analysis when making decisions about the allocation of our investment in marketing expenses to each segment. We do not report asset-related information by reportable segment because our CODM does not regularly receive asset information on a reportable segment basis.
The following table summarizes revenue by reportable segment and category for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
North America
Local$366,787 $350,876 $346,962 
Goods5,484 10,990 18,436 
Travel13,560 14,206 14,554 
Total North America revenue (1)
$385,831 $376,072 $379,952 
International
Local$97,506 $99,333 $111,543 
Goods9,561 10,929 14,961 
Travel5,524 6,223 8,454 
Total International revenue (1)
112,591 116,485 134,958 
Total revenue
$498,422 $492,557 $514,910 
(1)North America includes revenue from the United States of $381.4 million, $371.3 million and $374.0 million for the years ended December 31, 2025, 2024 and 2023. There were no other individual countries that represented more than 10% of consolidated total revenue for the years ended December 31, 2025, 2024 and 2023. Revenue is attributed to individual countries based on the location of the customer.
The following table summarizes contribution profit by reportable segment and reconciles total contribution profit for our reportable segments to consolidated income (loss) before provision (benefit) for income taxes for the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
North America
Revenue$385,831 $376,072 $379,952 
Cost of revenue
Payment processor fees
27,591 24,608 25,004 
Other segment items (cost of revenue) (1)
6,521 13,300 25,955 
Total cost of revenue
34,112 37,908 50,959 
Marketing
Online marketing
122,187 109,996 69,403 
Other segment items (marketing) (2)
5,421 3,100 3,775 
Total marketing
127,608 113,096 73,178 
Segment contribution profit
$224,111 $225,068 $255,815 
International
Revenue$112,591 $116,485 $134,958 
Cost of revenue
Payment processor fees
6,503 5,902 7,415 
Other segment items (cost of revenue) (1)
5,268 4,441 5,872 
Total cost of revenue11,771 10,343 13,287 
Marketing
Online marketing
34,841 27,432 30,270 
Other segment items (marketing) (2)
3,406 3,679 7,057 
Total marketing
38,247 31,111 37,327 
Segment contribution profit
$62,573 $75,031 $84,344 
Total
Total contribution profit for the reportable segments
$286,684 $300,099 $340,159 
Selling, general and administrative273,728 295,399 350,405 
(Gain) on sale of assets
— (5,160)— 
(Gain) on sale of business
(10,650)— — 
Restructuring and related charges (credits)(34)1,066 8,006 
Income (loss) from operations23,640 8,794 (18,252)
Loss on extinguishment of debt
(99,925)(1,631)— 
Other income (expense), net30,829 (37,554)(25,174)
Income (loss) before provision (benefit) for income taxes$(45,456)$(30,391)$(43,426)
(1) Includes editorial costs, compensation expense for technology support personnel who are responsible for maintaining the infrastructure of our websites, amortization of internally-developed software relating to customer-facing applications, and web hosting.
(2) Includes offline marketing costs, such as television, compensation expense for marketing employees, and customer acquisition and activation expense.
The following table summarizes tangible property and equipment, net of accumulated depreciation, by geographical region as of December 31, 2025 and 2024 (in thousands):
December 31,
 20252024
United States
$462 $344 
Rest of the world (1)
1,010 397 
Total tangible long-lived assets
$1,472 $741 
(1) The increase is primarily attributable to Spain, Poland, United Kingdom, and India, during the year ended December 31, 2025.