v3.26.1
Segment and Geographic Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment and Geographic Information
14. Segment and Geographic Information
The Company has one operating and reporting segment as the Company’s Chief Operating Decision Maker (“CODM”) reviews its performance and allocates resources based on its overall business operations with no distinct geographic or product lines that meet the criteria for separate segment reporting. The Company’s CODM is its Chief Executive Officer, David Kostman. The accounting policies applied to the segment are the same as those described in the summary of significant accounting policies.
The Company generates its revenue by operating a two-sided technology platform that drives business results by connecting media owners and advertisers with engaged audiences to drive business outcomes. The Company’s platform enables thousands of digital media owners to provide tailored experiences to their audiences, delivering audience engagement and monetization. For advertisers, the Company’s platform optimizes audience attention and engagement to deliver greater return on investment at each step of the marketing funnel. This segment constitutes 100% of the Company’s consolidated revenue and profit and is the primary focus of the Company’s management’s decision making regarding product development, marketing strategies and capital allocation.
The table below summarizes the results of operations that are provided to the CODM. As the Company has one reporting segment, net income (loss) is used as the measure of profit or loss to assess segment performance and allocate resources. The Company’s asset information is not regularly provided to the Company’s CODM.
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)
Revenue from external customers$284,589 $343,096 $550,572 $629,453 
Less:
Traffic acquisition costs161,200 198,927 319,309 382,162 
Personnel-related costs (1)
61,627 68,624 125,453 125,932 
Merger and acquisition costs1,565 5,434 2,849 21,852 
Depreciation and amortization17,547 18,337 34,981 31,210 
Marketing and advertising expenses11,692 10,795 17,049 15,222 
Restructuring charges
1,238 1,674 2,941 8,953 
Impairment charges— — — 15,614 
Other cost of sales (1)
20,736 16,887 37,965 31,645 
Other segment expenses (1) (2)
24,633 24,677 47,480 43,558 
Gain on repurchase of long-term debt
— (1,225)— (1,225)
Interest expense17,417 17,524 34,826 40,648 
Other expense (income) and interest income, net
2,113 1,506 2,672 1,990 
Provision (benefit) for income taxes7,300 (5,751)6,312 (18,952)
Segment and consolidated net loss
$(42,479)$(14,313)$(81,265)$(69,156)
_____________________
(1)Certain prior period amounts within the segment footnote have been reclassified to conform to the current period presentation. These reclassifications had no impact on previously reported consolidated financial results or total segment
profit.
(2)Other segment expenses primarily consist of office and related expenses, other professional fees, non-income taxes, provision for credit losses, and other expenses.
The following table presents total revenue based on where the Company’s advertisers are physically located:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)
The Americas (1)
$79,152 $104,099 $152,400 $194,384 
EMEA (Europe, the Middle East and Africa)175,995 202,988 337,909 367,933 
Asia29,442 36,009 60,263 67,136 
Total revenue$284,589 $343,096 $550,572 $629,453 
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(1)Includes U.S. revenues of $69.0 million and $136.0 million for the three and six months ended June 30, 2026, respectively, and $90.1 million and $169.3 million for the three and six months ended June 30, 2025, respectively.
The Company’s long-lived assets by geographic location, which are comprised of property, equipment and capitalized software, net and operating lease right-of-use assets, net are summarized below:
June 30, 2026December 31, 2025
(In thousands)
The Americas$46,632 $47,637 
EMEA (Europe, the Middle East and Africa)33,562 29,503 
Asia2,730 2,668 
Total long-lived assets, net$82,924 $79,808