XML 63 R44.htm IDEA: XBRL DOCUMENT v3.22.4
Segment Data (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Separate Financial Data for Each of Company's Operating Segment

The accounting policies applied to determine the segment information are generally the same as those described in the summary of significant accounting policies (see Note 2). The Company evaluates the performance of its operating segments based on separate financial data for each operating segment as provided below (in thousands):

 

 

 

Years Ended December 31,

 

 

% Change

 

 

% Change

 

 

 

 

2022

 

 

 

2021

 

 

 

2020

 

 

2022 to 2021

 

 

2021 to 2020

 

Net Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

$

747,103

 

 

$

555,338

 

 

$

143,309

 

 

 

35

%

 

 

288

%

Television

 

 

144,730

 

 

 

146,839

 

 

 

154,456

 

 

 

(1

)%

 

 

(5

)%

Audio

 

 

64,376

 

 

 

58,015

 

 

 

46,261

 

 

 

11

%

 

 

25

%

Consolidated

 

 

956,209

 

 

 

760,192

 

 

 

344,026

 

 

 

26

%

 

 

121

%

Cost of revenue - digital

 

 

623,916

 

 

 

466,517

 

 

 

106,928

 

 

 

34

%

 

 

336

%

Direct operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

 

32,518

 

 

 

25,481

 

 

 

15,227

 

 

 

28

%

 

 

67

%

Television

 

 

61,301

 

 

 

63,016

 

 

 

61,145

 

 

 

(3

)%

 

 

3

%

Audio

 

 

28,792

 

 

 

27,952

 

 

 

28,537

 

 

 

3

%

 

 

(2

)%

Consolidated

 

 

122,611

 

 

 

116,449

 

 

 

104,909

 

 

 

5

%

 

 

11

%

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

 

41,612

 

 

 

26,123

 

 

 

15,404

 

 

 

59

%

 

 

70

%

Television

 

 

20,657

 

 

 

18,381

 

 

 

19,748

 

 

 

12

%

 

 

(7

)%

Audio

 

 

12,896

 

 

 

12,081

 

 

 

13,252

 

 

 

7

%

 

 

(9

)%

Consolidated

 

 

75,165

 

 

 

56,585

 

 

 

48,404

 

 

 

33

%

 

 

17

%

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

 

12,148

 

 

 

8,377

 

 

 

2,561

 

 

 

45

%

 

 

227

%

Television

 

 

11,126

 

 

 

12,477

 

 

 

12,918

 

 

 

(11

)%

 

 

(3

)%

Audio

 

 

2,423

 

 

 

1,566

 

 

 

1,803

 

 

 

55

%

 

 

(13

)%

Consolidated

 

 

25,697

 

 

 

22,420

 

 

 

17,282

 

 

 

15

%

 

 

30

%

Segment operating profit (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

 

36,909

 

 

 

28,840

 

 

 

3,189

 

 

 

28

%

 

 

804

%

Television

 

 

51,646

 

 

 

52,965

 

 

 

60,645

 

 

 

(2

)%

 

 

(13

)%

Audio

 

 

20,265

 

 

 

16,416

 

 

 

2,669

 

 

 

23

%

 

 

515

%

Consolidated

 

 

108,820

 

 

 

98,221

 

 

 

66,503

 

 

 

11

%

 

 

48

%

Corporate expenses

 

 

49,404

 

 

 

32,993

 

 

 

27,807

 

 

 

50

%

 

 

19

%

Change in fair value of contingent consideration

 

 

14,210

 

 

 

8,224

 

 

 

 

 

 

73

%

 

*

 

Impairment charge

 

 

1,600

 

 

 

3,023

 

 

 

40,035

 

 

 

(47

)%

 

 

(92

)%

Foreign currency (gain) loss

 

 

2,972

 

 

 

508

 

 

 

(1,052

)

 

 

485

%

 

*

 

Other operating (gain) loss

 

 

382

 

 

 

(6,998

)

 

 

(6,895

)

 

*

 

 

 

1

%

Operating income (loss)

 

$

40,252

 

 

$

60,471

 

 

$

6,608

 

 

 

(33

)%

 

 

815

%

Capital expenditures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

$

6,186

 

 

$

2,073

 

 

$

1,659

 

 

 

 

 

 

 

Television

 

 

5,887

 

 

 

2,833

 

 

 

7,184

 

 

 

 

 

 

 

Audio

 

 

561

 

 

 

705

 

 

 

641

 

 

 

 

 

 

 

Consolidated

 

$

12,634

 

 

$

5,611

 

 

$

9,484

 

 

 

 

 

 

 

Total assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Digital

 

$

408,027

 

 

$

309,347

 

 

$

196,020

 

 

 

 

 

 

 

Television

 

 

363,904

 

 

 

433,303

 

 

 

425,899

 

 

 

 

 

 

 

Audio

 

 

108,910

 

 

 

108,692

 

 

 

125,426

 

 

 

 

 

 

 

Consolidated

 

$

880,841

 

 

$

851,342

 

 

$

747,345