Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

Information regarding the Company’s reportable segment is as follows (in millions):


	Three Months Ended March 31,
		2026		2025
Revenue
Recurring		$	498	$	520
Project		36		28
Total Revenue		$	534	$	548
Less (1)
Cost of sales - Technology (2)		$	70	$	76
Cost of sales - Delivery, Customer Care and Other (3)		275		272
Stock Based Compensation		2		3
Depreciation and Amortization		31		26
Total Gross Profit		$	156	$	171
Selling, General, and Administrative (4)		91		97
Restructuring		12		4
Stock Based Compensation		2		3
Depreciation and Intangible Amortization		73		75

Interest expense		24		22
Other segment items (5)		(27)		(13)
Net Income (Loss) From Continuing Operations		$	(19)	$	(17)

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

(2) Cost of sales - Technology is primarily attributable to cost related to application development and client-related infrastructure.

(3) Cost of sales - Delivery, Customer Care and Other is primarily attributable to costs related personnel and vendors providing services to support our client base and client participants.

(4) Selling, General, and Administrative expenses exclude restructuring, stock based compensation and depreciation and intangible amortization and primarily include compensation-related costs for administrative and management employees, system and facilities expense, and costs for external professional and consulting services.

(5) Other segment items - include (gain)/loss from change in fair value of financial instruments, (gain)/loss from change in fair value of tax receivable agreement, other (income) expense, net and income taxes.