v3.26.1
SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company has determined that its business is conducted across three reportable segments as of June 30, 2026, as follows: Government Relations Consulting, Corporate Communications & Public Affairs Consulting and Compliance and Insights Services.
•Government Relations Consulting services (also commonly referred to as “lobbying”) include advocacy, strategic guidance, political intelligence and issue monitoring at the U.S. federal and state levels, and in the United Kingdom through our offices in London;
•Corporate Communications & Public Affairs Consulting services include policy communications, crisis communications, financial communications and investor relations, litigation support, community relations, social and digital media, public opinion research, branding and messaging, and relationship marketing, across the United States and internationally through our offices in London, Shanghai, Abu Dhabi, and Dubai; and
•Compliance and Insights Services include lobbying compliance services and legislative tracking.
The Chief Operating Decision Maker ("CODM"), who is the Company's Chief Executive Officer, utilizes segment revenues, significant expenses consisting of staff costs and non-staff costs by segment and Adjusted Pre-Bonus EBITDA by segment (as described in the MD&A) to evaluate the Company’s financial performance, allocate resources, and make key operating decisions. The CODM is not regularly provided asset information on a segment basis, as it is not used to allocate resources or assess performance for each segment. Therefore, total segment assets have not been disclosed. In addition, for the three and six months ended June 30, 2026 and 2025, revenues in each of the three segments were primarily attributable the United States operations, as there were no other countries from which the Company derived segment revenues that exceeded 10% of that segment's total.
The following tables present key segment information and a reconciliation to the consolidated net loss after income taxes for each of the three and six months ended June 30, 2026, and 2025.
Three months ended June 30, 2026
Government Relations Consulting
Corporate Communications
& Public Affairs Consulting
Compliance and Insights Services
Total
Revenue
$30,369 $18,166 $3,608 $52,143 
Costs and expenses:
Staff costs13,143 10,886 1,530 25,560 
Non-staff costs2,713 3,014 265 5,992 
Segment Adjusted Pre-Bonus EBITDA14,5134,2651,81320,592
Reconciliation to net loss before income taxes:
Unallocated bonuses(4,039)
Unallocated corporate level expenses(5,317)
Depreciation(56)
Share-based accounting charge(7,362)
Post-combination compensation charges(4,191)
Long term incentive program charges(1,070)
Change in contingent consideration(892)
Amortization of intangibles(1,551)
Loss from operations(3,886)
Gain on bargain purchase846 
Interest, net(470)
Other expense
128 
Net loss before income taxes(3,382)
Income tax expense352 
Net loss after income taxes$(3,734)
Three months ended June 30, 2025
Government Relations Consulting
Corporate Communications
& Public Affairs Consulting
Compliance and Insights Services
Total
Revenue
$27,301 $18,144 $3,143 $48,588 
Costs and expenses:
Staff costs12,297 10,408 1,264 23,969 
Non-staff costs2,259 2,731 147 5,137 
Segment Adjusted Pre-Bonus EBITDA12,7455,0051,73219,482
Reconciliation to net loss before income taxes:
Unallocated bonuses(3,745)
Unallocated corporate level expenses(2,964)
Depreciation(53)
Share-based accounting charge(7,394)
Post-combination compensation charges(5,336)
Long term incentive program charges(1,528)
Change in contingent consideration(1,693)
Amortization of intangibles(1,665)
Loss from operations(4,896)
Gain on bargain purchase- 
Interest, net(836)
Other income, net(22)
Net loss before income taxes(5,754)
Income tax benefit(24)
Net loss after income taxes$(5,730)
Six months ended June 30, 2026
Government Relations Consulting
Corporate Communications
& Public Affairs Consulting
Compliance and Insights Services
Total
Revenue
$58,727 $36,459 $7,080 $102,266 
Costs and expenses:
Staff costs by segment26,046 21,866 3,004 50,916 
Non-staff costs by segment5,272 5,535 518 11,325 
Segment Adjusted Pre-Bonus EBITDA$27,409 $9,058 $3,558 40,025 
Reconciliation to net loss before income taxes:
Unallocated bonuses(7,928)
Unallocated corporate level expenses(10,006)
Depreciation(98)
Share-based accounting charge(14,644)
Post-combination compensation charges(7,037)
Long term incentive program charges(2,033)
Change in contingent consideration(7,195)
Amortization of intangibles(3,154)
Loss from operations(12,070)
Gain on bargain purchase898 
Interest, net(1,260)
Other income (expense), net294 
Net loss before income taxes(12,138)
Income tax expense3,092 
Net loss after income taxes$(15,230)
Six months ended June 30, 2025
Government Relations Consulting
Corporate Communications
& Public Affairs Consulting
Compliance and Insights Services
Total
Revenue
$53,465 $28,156 $6,277 $87,899 
Costs and expenses:
Staff costs by segment24,898 16,728 2,586 44,212 
Non-staff costs by segment4,325 4,186 286 8,797 
Segment Adjusted Pre-Bonus EBITDA$24,242 $7,242 $3,405 34,889 
Reconciliation to net loss before income taxes:
Unallocated bonuses(6,883)
Unallocated corporate level expenses(6,814)
Depreciation(93)
Share-based accounting charge(14,838)
Post-combination compensation charges(8,776)
Long term incentive program charges(2,651)
Change in contingent consideration(2,676)
Amortization of intangibles(2,956)
Loss from operations(10,798)
Gain on bargain purchase— 
Interest, net(1,438)
Other income, net(22)
Net loss before income taxes(12,258)
Income tax expense4,088 
Net loss after income taxes$(16,346)