v3.26.1
Segment Data
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Data

17. Segment Data

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker (“CODM”) in deciding how to allocate resources and assess performance. The Company derives substantially all of its revenue from the sale of subscription fees for access to its platform and stand-ready support—a product designed to provide accurate and comprehensive information on healthcare providers and their activities helping its customers optimize everything from product development to go-to-market planning and sales and marketing execution. To assess performance, the Company’s CODM, the Chief Executive Officer, reviews financial information on a consolidated basis. Therefore, the Company determined it has one operating segment and one reportable segment. The accounting policies of the Company’s operating segment are the same as those described in Note 2. Summary of Significant Accounting Policies in the notes to the consolidated financial statements in the 2025 Form 10-K. The CODM uses consolidated net loss to set budgets, evaluate margins, review actual results, and to make decisions whether to reinvest profits into the business, pursue acquisitions and partnerships, repurchase shares, and/or engage in other capital management transactions.

The following table presents the operating financial results of our single reportable segment, including revenue, significant expenses regularly provided to the CODM, and net loss:

 

 

 

Three Months Ended March 31,

 

(in thousands)

 

2026

 

 

2025

 

Revenue

 

$

55,929

 

 

$

59,191

 

Total cost of revenue

 

 

14,279

 

 

 

15,431

 

Sales and marketing

 

 

19,578

 

 

 

20,653

 

Product development

 

 

6,499

 

 

 

9,301

 

General and administrative

 

 

12,084

 

 

 

12,269

 

Other segment items, net (1)

 

 

199,278

 

 

 

167,516

 

Benefit from income taxes

 

 

3,435

 

 

 

10,886

 

Net loss

 

$

(192,354

)

 

$

(155,093

)

 

(1)
For the three months ended March 31, 2026, other segment items, net includes a goodwill impairment charge of $197.2 million, a TRA remeasurement gain of $6.5 million, depreciation and amortization expense of $8.3 million, interest expense of $2.6 million, interest income of $1.3 million, a transaction integration, and restructuring gain of $0.8 million, and a net foreign currency transaction gain of $0.3 million. For the three months ended March 31, 2025, a goodwill impairment charge of $176.5 million, a TRA remeasurement gain of $20.7 million, depreciation and amortization expense of $8.5 million, interest expense of $2.4 million, interest income of $2.1 million, transaction integration, and restructuring expenses of $1.3 million, net foreign currency transaction losses of $1.0 million, and a loss on the partial extinguishment of debt of $0.5 million.