v3.26.1
Segment and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting
The following table reconciles the company’s revenues and significant operating expense categories used to evaluate the business and allocate resources to Net income:
Three Months Ended June 30,Six Months Ended
June 30,
  (in thousands)2026202520262025
Revenue$221,801 $266,990 $420,971 $509,610 
Less:
Technology costs19,752 20,623 39,904 40,692 
Advertising costs17,002 21,765 34,650 43,428 
Adjusted cost of revenue1
82,295 94,861 165,155 184,293 
Adjusted sales and marketing1
29,705 34,019 59,048 64,541 
Adjusted product and development1
14,542 16,310 30,573 33,031 
Adjusted general and administrative1
40,003 44,681 104,093 98,693 
Goodwill impairment173,738 — 173,738 — 
Total operating expenses377,037 232,259 607,161 464,678 
(Loss) / Income from operations(155,236)34,731 (186,190)44,932 
Interest expense(3,833)(4,224)(7,593)(8,522)
Other (expense) / income, net(1,862)12,624 (16,523)27,139 
(Loss) / income before income taxes(160,931)43,131 (210,306)63,549 
(Benefit) / provision for income taxes(4,992)13,691 (6,798)15,421 
Net (loss) / income$(155,939)$29,440 $(203,508)$48,128 
1Excludes technology and advertising costs
The following represents the Company’s depreciation and amortization by expense category:
Three Months Ended June 30,Six Months Ended
June 30,
($ in thousands)2026202520262025
Cost of revenue$20,732 $20,804 $41,630 $41,546 
General and administrative1,684 1,807 3,490 3,736 
Total depreciation and amortization$22,416 $22,611 $45,120 $45,282 
Schedule of Geographic Revenue
The following table presents the Company’s revenue based on customer location (in thousands): 
Three Months Ended June 30,Six Months Ended
June 30,
2026202520262025
North America$118,133 $147,884 $207,154 $268,092 
Europe59,181 64,389 121,902 130,568 
Rest of the world44,487 54,717 91,915 110,950 
Total revenue$221,801 $266,990 $420,971 $509,610 
Schedule of Long-Lived Tangible Assets
The Company’s long-lived tangible assets were located as follows (in thousands):
As of June 30,As of December 31,
20262025
North America$28,795 $32,553 
Europe16,104 17,382 
Rest of the world16,338 12,618 
Total long-lived tangible assets$61,237 $62,553