v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information

NOTE 15. SEGMENT INFORMATION

The Company’s chief operating decision maker (“CODM”) is its President and Chief Executive Officer. An operating segment is defined as a component of an enterprise that engages in business activities for which discrete financial information is available and regularly reviewed by the CODM in deciding how to allocate resources and assess performance. The Company’s CODM manages the business on a consolidated basis for the purposes of allocating resources and assessing performance, and accordingly, the Company has a single operating and reportable segment. Revenue is derived through the Company’s collection of travel experiences, including attractions and hospitality, along with integrated restaurants, retail, and transportation.

The Company’s CODM assesses performance of its single reportable segment and decides how to allocate resources based on income (loss) from continuing operations, which is reported on the Condensed Consolidated Statements of Operations. The Company’s CODM also uses income (loss) from continuing operations to monitor actual results versus internal forecasts to help assess performance and establish management compensation. The CODM does not use a measure of segment assets to evaluate segment performance or in deciding how to allocate resources.

The financial information, including significant single segment expense categories, regularly provided to the Company’s CODM is included in the following table, including a reconciliation to income (loss) from continuing operations for the three and six months ended June 30, 2026 and 2025:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Total revenue

 

$

133,493

 

 

$

116,743

 

 

$

185,135

 

 

$

154,322

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of food, beverage, and retail products sold

 

$

9,587

 

 

$

8,871

 

 

$

12,575

 

 

$

11,156

 

Operating labor expenses (1)

 

 

32,651

 

 

 

28,329

 

 

 

52,488

 

 

 

44,507

 

Other segment expenses (2)

 

 

38,723

 

 

 

30,340

 

 

 

61,098

 

 

 

49,068

 

Selling, general, and administrative expenses

 

 

20,788

 

 

 

19,623

 

 

 

40,001

 

 

 

40,309

 

Depreciation and amortization

 

 

9,650

 

 

 

11,073

 

 

 

19,326

 

 

 

22,041

 

Interest expense, net

 

 

3,172

 

 

 

1,928

 

 

 

5,827

 

 

 

3,392

 

Other (income) expense, net

 

 

(2,728

)

 

 

5,962

 

 

 

(1,894

)

 

 

6,319

 

Total costs and expenses

 

 

111,843

 

 

 

106,126

 

 

 

189,421

 

 

 

176,792

 

Income (loss) from continuing operations before income taxes

 

 

21,650

 

 

 

10,617

 

 

 

(4,286

)

 

 

(22,470

)

Income tax expense

 

 

4,208

 

 

 

3,021

 

 

 

2,989

 

 

 

1,155

 

Income (loss) from continuing operations

 

$

17,442

 

 

$

7,596

 

 

$

(7,275

)

 

$

(23,625

)

(1) Operating labor expenses consist of wages, incentives, benefits, and employer taxes.

(2) Other segment expenses primarily include insurance expense, royalty fees, utilities, operating lease expense, property tax expense, and credit card fees.