v3.26.1
Revenue Recognition
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of revenues
The following table depicts the disaggregation of revenue according to customer type and is consistent with how we evaluate our financial performance. We believe this depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
Three Months Ended June 30, 2026
SubscriptionsAdvertisingRevenue Share (Related Party)Revenue Share (Third-party)Total
Timing of transfer:
Transferred over time$75,325 $— $— $— $75,325 
Transferred at a point in time— 13 518 (48)483 
Total$75,325 $13 $518 $(48)$75,808 
Three Months Ended June 30, 2025
SubscriptionsAdvertisingRevenue Share (Related Party)Revenue Share (Third-party)Total
Timing of transfer:
Transferred over time$79,274 $— $— $— $79,274 
Transferred at a point in time— 11 641 24 676 
Total$79,274 $11 $641 $24 $79,950 
Six Months Ended June 30, 2026
SubscriptionsAdvertisingRevenue Share (Related Party)Revenue Share (Third-party)Total
Timing of transfer:
Transferred over time$150,978 $— $— $— $150,978 
Transferred at a point in time— 25 1,170 664 1,859 
Total$150,978 $25 $1,170 $664 $152,837 
Six Months Ended June 30, 2025
SubscriptionsAdvertisingRevenue Share (Related Party)Revenue Share (Third-party)Total
Timing of transfer:
Transferred over time$162,206 $— $— $— $162,206 
Transferred at a point in time— 23 1,134 94 1,251 
Total$162,206 $23 $1,134 $94 $163,457 
Revenue recognition by subscription type was as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Membership subscriptions$39,772 $41,857 $81,509 $83,820 
Term subscriptions35,553 37,417 69,469 78,386 
Non-subscription revenue483 676 1,859 1,251 
Total$75,808 $79,950 $152,837 $163,457 
Revenue for the Membership and Term subscription types are determined based on the terms of the subscription agreements. Non-subscription revenue consists of revenue from advertising and other revenue.
Contract Balances
The timing of revenue recognition, billings, cash collections and refunds affects the recognition of accounts receivable, contract assets and deferred revenue. Our current deferred revenue balance in the condensed consolidated balance sheets includes an obligation for refunds for contracts where the provision for refund has not lapsed. Accounts receivable, deferred revenue and obligation for refunds are as follows:
As of
June 30, 2026December 31, 2025
Contract balances
Accounts receivable$3,128 $5,722 
Obligations for refunds$1,465 $1,516 
Deferred revenue – current$190,293 $182,282 
Deferred revenue – non-current$195,043 $185,754 
We recognized $51.1 million and $59.2 million of revenue during the three months ended June 30, 2026 and 2025, respectively, and $114.5 million and $130.1 million during the six months ended June 30, 2026 and 2025 that was included within the beginning contract liability balance of the respective periods. The Company has collected all amounts included in deferred revenue other than $3.1 million and $5.7 million as of June 30, 2026 and December 31, 2025, respectively, related to the timing of cash settlement with our credit card processor.
Assets Recognized from Costs to Obtain a Contract with a Customer
The following table presents the opening and closing balances of our capitalized costs associated with contracts with customers:
Balance at January 1, 2026$78,066 
Royalties and sales commissions9,802 
Revenue share and cost per acquisition fees28,255 
Amortization of capitalized costs(27,161)
Balance at June 30, 2026$88,962 
We did not recognize any impairment on capitalized costs associated with contracts with customers for the three and six months ended June 30, 2026 and 2025. Amortization of capitalized costs is included within sales and marketing on the condensed consolidated statements of operations.
Remaining Performance Obligations
As of June 30, 2026, the Company had $386.8 million of remaining performance obligations presented as deferred revenue in the condensed consolidated balance sheets. We expect to recognize approximately 50% of that amount as revenues over the next twelve months, with the remainder recognized thereafter.