Assets Held for Sale

12 Months Ended

Dec. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Assets Held For Sale

Assets Held for Sale

    In the fourth quarter of 2022, the Company entered into a non-binding Letter of Intent with a strategic buyer to sell Kasamba, Inc. (“Kasamba”). The transaction is expected to close in the first quarter of 2023.

The business and its associated net assets and liabilities, which represent the Company’s entire Consumer segment, met the criteria for classification as held for sale in accordance with ASC Subtopic 360-10. As such, the net assets and liabilities associated with the transaction were measured at the lower of fair value less costs to sell or the carrying value, and are separately presented in current assets and current liabilities as held for sale in the Consolidated Balance Sheet as of December 31, 2022 and depreciation of long-lived assets ceased. Pursuant to ASC 205-20, the planned divestiture did not meet the criteria for presentation as a discontinued operation.

    The major classes of assets and liabilities held for sale as of December 31, 2022, were as follows:

        

	December 31, 2022
Assets
Cash and cash equivalents	$	10,011
Accounts receivable, net	180
Prepaid expenses and other current assets	825
Property and equipment, net	11,223
Goodwill	8,024
Deferred tax assets	721
Total assets held for sale	$	30,984
Liabilities
Accounts payable	$	4,463
Accrued expenses and other current liabilities	5,122
Deferred revenue	772
Total liabilities related to assets held for sale	$	10,357