v3.26.1
Segments (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting
The following table sets forth financial information by reportable segment and attributable to corporate and certain other activities (in thousands):
Three Months Ended June 30,
20262025
Direct-to-ConsumerLicensingCorporateAll OtherTotalDirect-to-ConsumerLicensingCorporate
All Other(2)
Total
Net revenues19,487 11,169 307 255 31,218 $16,493 $10,932 $135 $588 $28,148 
Cost of sales(1)
(6,808)(475)(1,113)— (8,396)(6,835)(2,503)— (401)(9,739)
Gross profit12,679 10,694 (806)255 22,822 9,658 8,429 135 187 18,409 
Personnel(4,884)(308)(5,576)— (10,768)(4,806)(1,190)(4,793)(603)(11,392)
Rent(1,841)— (301)— (2,142)(1,702)(5)(498)— (2,205)
Marketing(1,637)(14)(186)— (1,837)(1,336)(9)(29)— (1,374)
Transaction expenses — — (155)— (155)— — — — — 
Other segment items(3)
(4,298)(817)170 — (4,945)(2,564)(1,673)(4,740)(344)(9,321)
Operating income (loss)19 9,555 (6,854)255 2,975 (750)5,552 (9,925)(760)(5,883)
Interest expense(2,218)(1,907)
Other nonoperating income, net500 1,000 
Income (loss) before income taxes$1,257 $(6,790)
_________________
(1) Direct-to-consumer cost of sales includes an immaterial amount of personnel and rent for the three months ended June 30, 2026 and 2025.
(2) For the three months ended June 30, 2025, transition expenses associated with the digital businesses licensed to Byborg, which we were responsible for during the transition period pursuant to the TSA, were $1.2 million, with $0.4 million recorded as cost of sales and $0.8 million recorded as selling and administrative expenses in the condensed consolidated statements of operations for the three months ended June 30, 2025.
(3) Includes intercompany management fee expense allocations of $2.5 million and $0.9 million from our direct-to-consumer segment to our corporate segment, which eliminate upon consolidation, for the three months ended June 30, 2026 and 2025, respectively.
Six Months Ended June 30,
20262025
Direct-to-ConsumerLicensingCorporateAll OtherTotalDirect-to-ConsumerLicensingCorporate
All Other(2)
Total
Net revenues38,334 22,101 445 574 61,454 $32,824 $22,383 $382 $1,434 $57,023 
Cost of sales(1)
(14,861)(1,966)(1,113)— (17,940)(13,742)(3,099)— (1,951)(18,792)
Gross profit23,473 20,135 (668)574 43,514 19,082 19,284 382 (517)38,231 
Personnel(9,598)(691)(9,773)— (20,062)(9,153)(1,784)(10,536)(3,308)(24,781)
Rent(3,691)— (496)— (4,187)(3,421)(12)(1,119)— (4,552)
Marketing(3,457)(26)(320)— (3,803)(2,798)(29)(607)(34)(3,468)
Transaction expenses— — (3,364)— (3,364)— — — — — 
Other segment items(3)
(5,145)(1,944)(3,675)— (10,764)(4,990)(2,950)(8,406)(1,227)(17,573)
Operating income (loss) 1,582 17,474 (18,296)574 1,334 (1,280)14,509 (20,286)(5,086)(12,143)
Interest expense(4,717)(3,795)
Other nonoperating income, net1,527 1,202 
Loss before income taxes$(1,856)$(14,736)
_________________
(1) Direct-to-consumer cost of sales includes an immaterial amount of personnel and rent for the six months ended June 30, 2026 and 2025.
(2) For the six months ended June 30, 2025, transition expenses associated with the digital businesses licensed to Byborg, which we were responsible for during the transition period pursuant to the TSA, reached the $5.0 million threshold of expenses payable by us, with $1.7 million recorded as cost of sales and $3.3 million recorded as selling and administrative expenses in our condensed consolidated statements of operations for the six months ended June 30, 2025.
(3) Includes intercompany management fee expense allocations of $2.1 million and $1.8 million from our direct-to-consumer segment to our corporate segment, which eliminate upon consolidation, for the six months ended June 30, 2026 and 2025.
Schedule of Geographic Information The following table sets forth revenue by geographic area (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Net revenues:
United States$9,672 $8,833 $20,238 $18,820 
Australia7,988 6,840 15,122 13,478 
Luxembourg5,000 5,000 10,000 10,000 
United Kingdom3,446 2,949 6,298 5,590 
China 3,018 3,180 6,030 6,376 
Other2,094 1,346 3,766 2,759 
Total$31,218 $28,148 $61,454 $57,023