Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Separate Financial Data for Each of Company's Operating Segment

Separate financial data for each of the Company’s operating segments are provided below. Segment operating profit (loss) is defined as operating profit (loss) before corporate expenses, change in fair value of contingent consideration, impairment charge, foreign currency (gain) loss and other operating (gain) loss. The Company generated 73% and 70% of its revenue outside the United States during the three-month periods ended June 30, 2022 and 2021, respectively. The Company generated 73% and 67% of its

revenue outside the United States during the six-month periods ended June 30, 2022 and 2021, respectively. The Company evaluates the performance of its operating segments based on the following (in thousands):

	Three-Month Period									Six-Month Period
	Ended June 30,						%			Ended June 30,						%
	2022			2021			Change			2022			2021			Change
Net revenue
Digital	$	174,378		$	130,223			34	%	$	328,089		$	231,705			42	%
Television		32,373			34,057			(5	)%		63,240			70,148			(10	)%
Audio		14,944			14,130			6	%		27,538			25,437			8	%
Consolidated		221,695			178,410			24	%		418,867			327,290			28	%
Cost of revenue - digital		144,965			109,030			33	%		274,856			193,786			42	%
Direct operating expenses
Digital		7,843			6,238			26	%		14,976			11,139			34	%
Television		14,488			15,203			(5	)%		28,771			30,172			(5	)%
Audio		7,265			6,895			5	%		13,672			13,586			1	%
Consolidated		29,596			28,336			4	%		57,419			54,897			5	%
Selling, general and administrative expenses
Digital		9,419			5,789			63	%		17,521			11,738			49	%
Television		5,238			4,313			21	%		10,195			9,228			10	%
Audio		3,118			3,004			4	%		6,098			5,993			2	%
Consolidated		17,775			13,106			36	%		33,814			26,959			25	%
Depreciation and amortization
Digital		2,644			1,613			64	%		5,321			3,194			67	%
Television		2,808			3,107			(10	)%		5,701			6,323			(10	)%
Audio		811			354			129	%		1,636			741			121	%
Consolidated		6,263			5,074			23	%		12,658			10,258			23	%
Segment operating profit (loss)
Digital		9,507			7,553			26	%		15,415			11,848			30	%
Television		9,839			11,434			(14	)%		18,573			24,425			(24	)%
Audio		3,750			3,877			(3	)%		6,132			5,117			20	%
Consolidated		23,096			22,864			1	%		40,120			41,390			(3	)%
Corporate expenses		8,520			7,345			16	%		17,244			14,503			19	%
Change in fair value of contingent consideration		976			-		*				6,076			-		*
Impairment charge		-			112			(100	)%		-			1,438			(100	)%
Foreign currency (gain) loss		993			(309	)	*				146			277			(47	)%
Other operating (gain) loss		(834	)		(523	)		59	%		(953	)		(2,436	)		(61	)%
Operating income (loss)		13,441			16,239			(17	)%		17,607			27,608			(36	)%
Interest expense	$	(2,334	)	$	(1,856	)		26	%	$	(4,170	)	$	(3,573	)		17	%
Interest income		722			83			770	%		1,128			223			406	%
Dividend income		11			2			450	%		14			4			250	%
Income (loss) before income taxes		11,840			14,468			(18	)%		14,579			24,262			(40	)%
Capital expenditures
Digital	$	1,092		$	538					$	1,861		$	874
Television		676			430						1,136			1,461
Audio		123			147						411			293
Consolidated	$	1,891		$	1,115					$	3,408		$	2,628
	June 30,			December 31,
Total assets	2022			2021
Digital		350,725			309,347
Television		384,087			433,303
Audio		105,391			108,692
Consolidated	$	840,203		$	851,342

* Percentage not meaningful.