v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We previously managed our business across two operating and reportable segments: the monetization of end-users acquired directly by us to our websites and products ("Owned & Operated Advertising"), and the monetization of end-users acquired by our Network Partners ("Partner Network"). In the second quarter of 2025, we had an internal organizational change that resulted in a change in how we manage our businesses. We combined the management of our Partner Network business with the portion of our Owned and Operated Advertising activities related to paid traffic acquisition via advertising costs and direct agency fees ("Marketing") and separately manage our CouponFollow, Startpage and MapQuest businesses which primarily acquire end-users organically ("Products"). This resulted in a change to our operating and reportable segments. We now have two operating and reportable segments: Marketing and Products. All prior year information in the tables below have been revised retrospectively to reflect the change to our reportable segments.

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. Our Chief Executive Officer, who is considered to be our CODM, reviews financial information presented on an operating segment basis for purposes of making operating decisions and assessing financial performance. The CODM measures and evaluates reportable segments based on segment adjusted gross profit. The CODM evaluates both potential future, as well as historical budget to actual variances, adjusted gross profit by segment on a quarterly basis to determine the allocation of capital for acquisition marketing, as well as technical and personnel resources. Adjusted gross profit is also used to determine variable compensation
expense for certain employees. We have not presented segment assets as our CODM does not regularly use segment assets to evaluate or measure segment performance or allocate resources.

The tables below include the following operating expenses that are not allocated to the reportable segments presented to our CODM, such as other cost of revenue (total cost of revenue excluding traffic acquisition cost and agency fees), salaries and benefits, selling, general and administrative expenses and, at times, certain other transactions or adjustments. The CODM does not consider these expenses for the purposes of making decisions to allocate resources among segments or to assess segment performance, however these costs are included in reported condensed consolidated net loss before income tax and are included in the reconciliation that follows.

The following table summarizes revenue, segment cost of revenue and segment adjusted gross profit by reportable segments (in thousands):

Three Months Ended March 31, 2026
Three Months Ended March 31, 2025
Marketing
Products
Total
Marketing
Products
Total
Revenue
$
18,391 
$
18,843 
$
37,234 
$
52,250 
$
22,263 
$
74,513 
Less: segment cost of revenue
5,862 
1,526 
7,388 
30,463 
1,309 
31,772 
Segment adjusted gross profit
12,529 
17,317 
29,846 
21,787 
20,954 
42,741 
Other cost of revenue
6,472 
14,305 
Salaries and benefits
20,800 
24,988 
Selling, general, and administrative
16,789 
16,574 
Impairment of long-lived assets
36,822 
— 
Interest expense, net
6,629 
7,085 
Change in fair value of warrant liabilities
— 
32 
Loss before income tax
$
(57,666)
$
(20,243)

The following table summarizes revenue by geographic region (in thousands):

Three Months Ended March 31,
2026
2025
United States
$
36,601 
$
73,699 
Other countries
633 
814 
Total revenue
$
37,234 
$
74,513