| Separate Financial Data for Each of Company's Operating Segment |
The accounting policies applied to determine the segment information are generally the same as those described in the summary of significant accounting policies (see Note 2). The Company evaluates the performance of its operating segments based on separate financial data for each operating segment as provided below (in thousands):
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Three-Month Period |
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Six-Month Period |
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Ended June 30, |
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% |
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Ended June 30, |
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% |
|
|
|
2026 |
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|
2025 |
|
|
Change |
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|
2026 |
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|
2025 |
|
|
Change |
|
Net revenue |
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Media |
|
$ |
45,080 |
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|
$ |
45,413 |
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|
(1 |
)% |
|
$ |
87,501 |
|
|
$ |
86,390 |
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|
|
1 |
% |
Advertising Technology & Services |
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|
182,821 |
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|
|
55,322 |
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|
|
230 |
% |
|
|
337,371 |
|
|
|
106,196 |
|
|
|
218 |
% |
Consolidated |
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|
227,901 |
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|
|
100,735 |
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|
|
126 |
% |
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|
424,872 |
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|
|
192,586 |
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|
121 |
% |
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Cost of revenue |
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Media |
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|
6,064 |
|
|
|
4,651 |
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|
|
30 |
% |
|
|
11,429 |
|
|
|
7,917 |
|
|
|
44 |
% |
Advertising Technology & Services |
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|
111,870 |
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|
|
33,359 |
|
|
|
235 |
% |
|
|
208,459 |
|
|
|
63,565 |
|
|
|
228 |
% |
Consolidated |
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|
117,934 |
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|
|
38,010 |
|
|
|
210 |
% |
|
|
219,888 |
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|
|
71,482 |
|
|
|
208 |
% |
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Direct operating expenses |
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Media |
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28,753 |
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|
|
26,795 |
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|
|
7 |
% |
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|
56,889 |
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|
|
53,345 |
|
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|
7 |
% |
Advertising Technology & Services |
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|
21,868 |
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|
|
10,917 |
|
|
|
100 |
% |
|
|
38,531 |
|
|
|
19,869 |
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|
94 |
% |
Consolidated |
|
|
50,621 |
|
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|
37,712 |
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|
34 |
% |
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|
95,420 |
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|
|
73,214 |
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|
30 |
% |
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Selling, general and administrative expenses |
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Media |
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|
10,662 |
|
|
|
11,006 |
|
|
|
(3 |
)% |
|
|
22,014 |
|
|
|
21,811 |
|
|
|
1 |
% |
Advertising Technology & Services |
|
|
8,351 |
|
|
|
5,447 |
|
|
|
53 |
% |
|
|
15,138 |
|
|
|
10,148 |
|
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|
49 |
% |
Consolidated |
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|
19,013 |
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|
|
16,453 |
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|
16 |
% |
|
|
37,152 |
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|
31,959 |
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|
16 |
% |
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Depreciation and amortization |
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Media |
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|
2,881 |
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|
2,607 |
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|
11 |
% |
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|
5,667 |
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|
5,577 |
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|
2 |
% |
Advertising Technology & Services |
|
|
703 |
|
|
|
420 |
|
|
|
67 |
% |
|
|
908 |
|
|
|
927 |
|
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|
(2 |
)% |
Consolidated |
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|
3,584 |
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|
3,027 |
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|
18 |
% |
|
|
6,575 |
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|
|
6,504 |
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|
1 |
% |
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Segment operating profit (loss) |
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|
Media |
|
|
(3,280 |
) |
|
|
354 |
|
|
* |
|
|
|
(8,498 |
) |
|
|
(2,260 |
) |
|
|
276 |
% |
Advertising Technology & Services |
|
|
40,029 |
|
|
|
5,179 |
|
|
|
673 |
% |
|
|
74,335 |
|
|
|
11,687 |
|
|
|
536 |
% |
Consolidated |
|
|
36,749 |
|
|
|
5,533 |
|
|
|
564 |
% |
|
|
65,837 |
|
|
|
9,427 |
|
|
|
598 |
% |
|
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Corporate expenses |
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|
6,597 |
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|
6,375 |
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|
3 |
% |
|
|
13,770 |
|
|
|
14,163 |
|
|
|
(3 |
)% |
Impairment charge |
|
|
- |
|
|
|
- |
|
|
- |
|
|
|
- |
|
|
|
23,673 |
|
|
|
(100 |
)% |
Loss on lease abandonment |
|
|
- |
|
|
|
- |
|
|
- |
|
|
|
- |
|
|
|
25,191 |
|
|
|
(100 |
)% |
Restructuring costs |
|
|
- |
|
|
|
- |
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|
- |
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|
|
983 |
|
|
|
- |
|
|
* |
|
Foreign currency (gain) loss |
|
|
301 |
|
|
|
6 |
|
|
* |
|
|
|
544 |
|
|
|
18 |
|
|
* |
|
Other operating (gain) loss |
|
|
(116 |
) |
|
|
- |
|
|
* |
|
|
|
(116 |
) |
|
|
- |
|
|
* |
|
Operating income (loss) |
|
|
29,967 |
|
|
|
(848 |
) |
|
* |
|
|
|
50,656 |
|
|
|
(53,618 |
) |
|
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
Interest expense |
|
$ |
(3,146 |
) |
|
$ |
(4,037 |
) |
|
|
(22 |
)% |
|
$ |
(6,461 |
) |
|
$ |
(7,700 |
) |
|
|
(16 |
)% |
Interest income |
|
|
606 |
|
|
|
619 |
|
|
|
(2 |
)% |
|
|
964 |
|
|
|
1,224 |
|
|
|
(21 |
)% |
Dividend income |
|
|
15 |
|
|
|
1 |
|
|
* |
|
|
|
29 |
|
|
|
1 |
|
|
* |
|
Realized gain (loss) on marketable securities |
|
|
3 |
|
|
|
3 |
|
|
|
0 |
% |
|
|
11 |
|
|
|
4 |
|
|
|
175 |
% |
Gain (loss) on debt extinguishment |
|
|
- |
|
|
|
(38 |
) |
|
|
(100 |
)% |
|
|
- |
|
|
|
(38 |
) |
|
|
(100 |
)% |
Income (loss) before income taxes |
|
|
27,445 |
|
|
|
(4,300 |
) |
|
* |
|
|
|
45,199 |
|
|
|
(60,127 |
) |
|
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Media |
|
$ |
2,773 |
|
|
$ |
1,970 |
|
|
|
|
|
$ |
5,672 |
|
|
$ |
4,330 |
|
|
|
|
Advertising Technology & Services |
|
|
397 |
|
|
|
301 |
|
|
|
|
|
|
1,395 |
|
|
|
325 |
|
|
|
|
Consolidated |
|
$ |
3,170 |
|
|
$ |
2,271 |
|
|
|
|
|
$ |
7,067 |
|
|
$ |
4,655 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
* Percentage not meaningful.
|