Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

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 80% and 73% of its revenue outside the United

States during the three-month periods ended march 31, 2023 and 2022, respectively. The Company evaluates the performance of its operating segments based on the following (in thousands):

	Three-Month Period
	Ended March 31,						%
	2023			2022			Change
Net revenue
Digital	$	196,482		$	153,711			28	%
Television		30,312			30,867			(2	)%
Audio		12,212			12,594			(3	)%
Consolidated		239,006			197,172			21	%
Cost of revenue - digital		167,756			129,891			29	%
Direct operating expenses
Digital		8,010			7,133			12	%
Television		14,759			14,283			3	%
Audio		7,093			6,407			11	%
Consolidated		29,862			27,823			7	%
Selling, general and administrative expenses
Digital		13,529			8,102			67	%
Television		5,340			4,957			8	%
Audio		3,899			2,980			31	%
Consolidated		22,768			16,039			42	%
Depreciation and amortization
Digital		3,631			2,677			36	%
Television		2,658			2,893			(8	)%
Audio		182			825			(78	)%
Consolidated		6,471			6,395			1	%
Segment operating profit (loss)
Digital		3,556			5,908			(40	)%
Television		7,555			8,734			(13	)%
Audio		1,038			2,382			(56	)%
Consolidated		12,149			17,024			(29	)%
Corporate expenses		10,502			8,724			20	%
Change in fair value of contingent consideration		(4,065	)		5,100		*
Foreign currency (gain) loss		(956	)		(847	)		13	%
Other operating (gain) loss		-			(119	)		(100	)%
Operating income (loss)		6,668			4,166			60	%
Interest expense	$	(4,028	)	$	(1,836	)		119	%
Interest income		860			406			112	%
Dividend income		18			3			500	%
Realized gain (loss) on marketable securities		(32	)		-		*
Gain (loss) on debt extinguishment		(1,556	)		-		*
Income (loss) before income taxes		1,930			2,739			(30	)%
Capital expenditures
Digital	$	1,111		$	769
Television		7,336			460
Audio		103			288
Consolidated	$	8,550		$	1,517
	March 31,			December 31,
Total assets	2023			2022
Digital		415,204			408,027
Television		355,996			363,904
Audio		107,083			108,910
Consolidated	$	878,283		$	880,841

* Percentage not meaningful.