v3.26.3
Segment and Geographic Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
The Company is currently organized and operates as one operating and reportable segment on a consolidated basis. The Company’s revenues are supported by its searchable creative platform and driven by its large contributor network. The Company’s chief executive officer, who is its chief operating decision maker (“CODM”), evaluates the performance of the Company’s operating segment based on net income. The CODM considers budget-to-actual variances when making decisions about capital allocation to the segment. Asset information is not provided to the Company’s CODM as that information is not used in the determination of resource allocation or in assessing the performance of the Company’s segment.

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 September 30,Nine Months Ended
September 30,
  (in thousands)2026202520262025
Revenue$173,898 $260,094 $594,869 $769,704 
Less:
Technology costs23,204 22,892 63,108 63,584 
Advertising costs15,147 23,892 49,797 67,320 
Adjusted cost of revenue1
69,429 91,181 234,584 275,474 
Adjusted sales and marketing1
27,513 33,929 86,561 98,470 
Adjusted product and development1
10,384 16,319 40,957 49,350 
Adjusted general and administrative1
23,946 39,390 128,039 138,083 
Goodwill impairment203,323 — 377,061 — 
Total operating expenses372,946 227,603 980,107 692,281 
(Loss) / Income from operations(199,048)32,491 (385,238)77,423 
Interest expense(3,567)(4,226)(11,160)(12,748)
Other income / (expense), net2,097 3,138 (14,426)30,277 
(Loss) / income before income taxes(200,518)31,403 (410,824)94,952 
Provision / (benefit) for income taxes(2,766)18,016 (9,565)33,437 
Net (loss) / income$(197,752)$13,387 $(401,259)$61,515 
1Excludes technology and advertising costs
The following represents the Company’s depreciation and amortization by expense category:
Three Months Ended September 30,Nine Months Ended
September 30,
($ in thousands)2026202520262025
Cost of revenue$20,100 $21,028 $61,730 $62,574 
General and administrative1,686 1,849 5,176 5,585 
Total depreciation and amortization$21,786 $22,877 $66,906 $68,159 
The following table presents the Company’s revenue based on customer location (in thousands): 
Three Months Ended September 30,Nine Months Ended
September 30,
2026202520262025
North America$81,021 $142,808 $288,175 $410,900 
Europe50,691 63,606 172,593 194,174 
Rest of the world42,186 53,680 134,101 164,630 
Total revenue$173,898 $260,094 $594,869 $769,704 
The United States, included in North America in the above table, accounted for 37% and 44% of consolidated revenue for the nine months ended September 30, 2026 and 2025, respectively. No other country accounts for more than 10% of the Company’s revenue in any period presented.
The Company’s long-lived tangible assets were located as follows (in thousands):
As of September 30,As of December 31,
20262025
North America$27,460 $32,553 
Europe15,499 17,382 
Rest of the world18,254 12,618 
Total long-lived tangible assets$61,213 $62,553 
The United States, included in North America in the above table, accounted for 42% and 48% of total long-lived tangible assets as of September 30, 2026 and December 31, 2025, respectively. Ireland, included in Europe in the above table, accounted for 21% and 23% of total long-lived tangible assets as of September 30, 2026 and December 31, 2025, respectively. Australia, included in Rest of the world in the above table, accounted for 30% and 20% of the total long-lived tangible assets as of September 30, 2026 and December 31, 2025, respectively. No other country accounts for more than 10% of the Company’s long-lived tangible assets in any period presented.