SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company manages its business and reports its financial results through the following three operating and reportable segments: Home, Consumer, and Insurance. Characteristics which were relied upon in making the determination of the reportable segments include the nature of the products, the organization's internal structure, and the information that is regularly reviewed by the chief operating decision maker for the purpose of assessing performance and allocating resources.

The Home segment includes the following products: purchase mortgage, refinance mortgage, and home equity loans and lines of credit. The Company ceased offering reverse mortgage loans in the fourth quarter of 2022. The Consumer segment includes the following products: credit cards, personal loans, small business loans, student loans, auto loans, deposit accounts, and other credit products such as credit repair and debt settlement. The Insurance segment consists of insurance quote products and sales of insurance policies in the agency businesses.

The following tables are a reconciliation of segment profit, which is the Company's primary segment profitability measure, to income before income taxes. Segment marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses, that are directly attributable to the segments' products. This measure excludes overhead, fixed costs and personnel-related expenses.

	Three Months Ended June 30, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	41,563	$	82,477	$	58,398	$	15	$	182,453
Segment marketing expense	28,216		41,807		33,647		274		103,944
Segment profit (loss)	13,347		40,670		24,751		(259)		78,509
Cost of revenue									9,302
Brand and other marketing expense									12,121
General and administrative expense									29,160
Product development									10,601
Depreciation									4,684
Amortization of intangibles									1,982
Restructuring and severance									3,558
Litigation settlements and contingencies									488
Operating income									6,613
Interest expense, net									(6,940)
Other income									439
Income before income taxes									$	112

	Three Months Ended June 30, 2022
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	73,938	$	106,144	$	81,756	$	85	$	261,923
Segment marketing expense	47,198		61,556		59,172		232		168,158
Segment profit (loss)	26,740		44,588		22,584		(147)		93,765
Cost of revenue									14,574
Brand and other marketing expense									16,379
General and administrative expense									40,291
Product development									14,318
Depreciation									4,896
Amortization of intangibles									7,075
Restructuring and severance									135
Litigation settlements and contingencies									(7)
Operating loss									(3,896)
Interest expense, net									(6,765)
Other income									284
Loss before income taxes									$	(10,377)

	Six Months Ended June 30, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	85,238	$	162,186	$	135,480	$	57	$	382,961
Segment marketing expense	56,783		86,640		80,577		495		224,495
Segment profit (loss)	28,455		75,546		54,903		(438)		158,466
Cost of revenue									23,062
Brand and other marketing expense									28,681
General and administrative expense									65,843
Product development									25,256
Depreciation									9,479
Amortization of intangibles									4,031
Restructuring and severance									8,012
Litigation settlements and contingencies									500
Operating loss									(6,398)
Interest income, net									18,089
Other income									2,273
Income before income taxes									$	13,964

	Six Months Ended June 30, 2022
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	175,882	$	207,212	$	161,794	$	213	$	545,101
Segment marketing expense	113,233		120,117		118,107		415		351,872
Segment profit (loss)	62,649		87,095		43,687		(202)		193,229
Cost of revenue									30,135
Brand and other marketing expense									36,822
General and administrative expense									76,268
Product development									28,370
Depreciation									9,750
Amortization of intangibles									14,992
Restructuring and severance									3,760
Litigation settlements and contingencies									(34)
Operating loss									(6,834)
Interest expense, net									(14,270)
Other income									283
Loss before income taxes									$	(20,821)