| Summary of Segment Information |
The following tables reflect certain segment information for the three and six months ended June 30, 2026 and 2025 (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Segment Revenue |
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U.S. |
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$ |
194,749 |
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$ |
135,733 |
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$ |
366,966 |
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$ |
263,553 |
|
International |
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|
34,531 |
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|
|
26,814 |
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|
|
67,453 |
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|
|
49,965 |
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Total |
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$ |
229,280 |
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$ |
162,547 |
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$ |
434,419 |
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$ |
313,518 |
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Segment Cost of Revenue |
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U.S. |
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$ |
121,224 |
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$ |
80,968 |
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$ |
227,286 |
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$ |
160,908 |
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International |
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|
20,903 |
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|
16,403 |
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|
41,491 |
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|
31,103 |
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Total |
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$ |
142,127 |
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$ |
97,371 |
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$ |
268,777 |
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$ |
192,011 |
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Segment Adjusted Operating Expense(1) |
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U.S. |
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$ |
56,243 |
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$ |
48,074 |
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$ |
109,288 |
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$ |
93,126 |
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International |
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|
16,949 |
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|
|
13,360 |
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|
|
32,083 |
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|
|
24,743 |
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Total |
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$ |
73,192 |
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|
$ |
61,434 |
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$ |
141,371 |
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|
$ |
117,869 |
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Other Segment Items(2) |
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U.S. |
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$ |
182 |
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$ |
184 |
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$ |
358 |
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$ |
366 |
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International |
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— |
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— |
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— |
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— |
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Total |
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$ |
182 |
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$ |
184 |
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$ |
358 |
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$ |
366 |
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Segment Adjusted EBITDA |
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U.S. |
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$ |
17,464 |
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$ |
6,875 |
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$ |
30,750 |
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$ |
9,885 |
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International |
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(3,321 |
) |
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(2,949 |
) |
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(6,121 |
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(5,881 |
) |
Adjusted EBITDA |
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$ |
14,143 |
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$ |
3,926 |
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$ |
24,629 |
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$ |
4,004 |
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(Add) deduct: |
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Interest expense, interest and dividend income and other expenses |
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|
330 |
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(16,373 |
) |
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|
392 |
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(16,164 |
) |
Depreciation and amortization |
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(5,836 |
) |
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(4,495 |
) |
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(10,767 |
) |
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(8,741 |
) |
Amortization of lease intangible |
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— |
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(180 |
) |
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— |
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(360 |
) |
(Provision) benefit for income taxes |
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(354 |
) |
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|
8 |
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(602 |
) |
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|
8 |
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Stock-based compensation |
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(11,346 |
) |
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(7,895 |
) |
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(19,673 |
) |
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(15,237 |
) |
Payroll tax expense related to stock-based compensation |
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(459 |
) |
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(261 |
) |
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(2,064 |
) |
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(1,734 |
) |
Acquisition and other |
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(281 |
) |
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(676 |
) |
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(281 |
) |
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(927 |
) |
Charitable contribution of common stock |
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(1,811 |
) |
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(614 |
) |
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(2,637 |
) |
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(1,130 |
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Income from unconsolidated joint venture |
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|
255 |
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|
218 |
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|
401 |
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|
324 |
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Restructuring charges |
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|
45 |
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(95 |
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|
30 |
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(1,556 |
) |
Net Loss |
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$ |
(5,314 |
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$ |
(26,437 |
) |
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$ |
(10,572 |
) |
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$ |
(41,513 |
) |
(1) Amount excludes stock-based compensation and the related payroll taxes, depreciation and amortization, restructuring charges, acquisition and other costs, amortization of lease intangible, lease termination and charitable contributions of common stock. (2) Addback to Segment Cost of Revenue to calculate Segment Adjusted EBITDA. The following tables reflect long-lived asset information as of June 30, 2026 and December 31, 2025 (in thousands):
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June 30, |
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December 31, |
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2026 |
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2025 |
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Segment Software development and property and equipment, net |
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U.S. |
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$ |
67,209 |
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$ |
49,543 |
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International |
|
|
12,545 |
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|
|
11,088 |
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Total |
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$ |
79,754 |
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$ |
60,631 |
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Segment Operating lease right-of-use assets |
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U.S. |
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$ |
5,898 |
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$ |
8,003 |
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International |
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|
4,191 |
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|
|
3,129 |
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Total |
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$ |
10,089 |
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|
$ |
11,132 |
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