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| Segment Information | (10) Segment Information The Company, through its ownership of Quint and Live Nation, is primarily engaged in the entertainment and hospitality industries. The Company identifies its reportable segments as those operating segments that represent 10% or more of its consolidated annual revenue, annual Adjusted OIBDA (as defined below) or total assets. The Company’s chief operating decision maker, the chief executive officer, evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue, cost of revenue, operating expenses, selling, general and administrative expenses, and Adjusted OIBDA. In addition, the Company reviews nonfinancial measures such as customer satisfaction and retention rates. For segment reporting purposes, the Company defines Adjusted OIBDA as revenue less operating expenses, and selling, general and administrative expenses excluding all stock-based compensation, separately reported litigation settlements and restructuring, acquisition costs and impairment charges. The Company believes this measure is an important indicator of the operational strength and performance of its businesses, by identifying those items that are not directly a reflection of each business’ performance or indicative of ongoing business trends. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance. This measure of performance excludes depreciation and amortization, stock-based compensation, separately reported litigation settlements, restructuring, acquisition and impairment charges that are included in the measurement of operating income pursuant to GAAP. Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income, net earnings (loss), cash flow provided by operating activities and other measures of financial performance prepared in accordance with GAAP. The Company has identified the following as its reportable segments:
As of December 31, 2025, Live Nation met the Company’s reportable segment threshold for equity method affiliates. See note 4 for segment disclosures related to Live Nation. The Company’s reportable segments are strategic business units that offer different products and services. They are managed separately because each segment requires different technologies, differing revenue sources and marketing strategies. Revenue When consideration is received from a customer prior to transferring services to the customer under the terms of a contract, deferred revenue is recorded. Quint’s customers generally pay for services in advance of the performance obligation and therefore these prepayments are recorded as deferred revenue. The deferred revenue is recognized as revenue in the accompanying condensed consolidated statements of operations as the services are provided. As of January 1, 2026, the Company had deferred revenue of $154,997 thousand. The Company assumed $3,887 thousand of deferred revenue in the TNTT acquisition. Of the total deferred revenue balance, $149,727 thousand was recognized as revenue during the nine months ended September 30, 2026. As of January 1, 2025, the Company had deferred revenue of $126,752 thousand, of which $122,792 thousand was recognized as revenue during the nine months ended September 30, 2025. Changes in the deferred revenue balance for the Company were not materially impacted by other factors. The Company anticipates recognizing revenue from the delivery of performance obligations that extend beyond one year of approximately $3,273 thousand in the remainder of and $11,844 thousand in . All amounts in years thereafter are considered immaterial. The Company applies certain practical expedients as permitted and does not disclose information about remaining performance obligations that have original expected durations of one year or less, information about revenue remaining from usage based performance obligations that are recognized over time as-invoiced, or variable consideration allocated to wholly unsatisfied performance obligations. The majority of the Company’s performance obligations have expected durations of one year or less. Performance Measures
Other Information
The following table provides a reconciliation of Adjusted OIBDA to Operating income (loss) and Earnings (loss) before income taxes:
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