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Segment information
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment information Segment information
Management has identified three reportable segments, which correspond to our three operating segments: the Americas, Developed Europe and Rest of World. Our Americas segment is comprised of Argentina, Brazil, Canada, Chile, Colombia, Ecuador, Mexico, Peru, the United States and Uruguay. Our Developed Europe segment is comprised of Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. Our Rest of World segment is comprised of all other countries, the most significant by revenue of which are Japan, Turkey, Australia, Hong Kong and India.
We determined our operating segments based on how our chief operating decision makers manage our business, make operating decisions and evaluate operating performance. Our primary operating metric is Return on Advertising Spend, or ROAS, for each of our segments, which compares Referral Revenue to Advertising Spend. ROAS includes the allocation of revenue by segment which is based on the location of the website, or domain name, regardless of where the consumer resides. This is consistent with how management monitors and runs the business.
Corporate and Eliminations also includes all corporate functions and expenses except for direct advertising. In addition, we record amortization of intangible assets and any related impairment, share-based compensation expense, restructuring and related reorganization charges, legal reserves, occupancy tax and other taxes, and other items excluded from segment operating performance in Corporate and Eliminations. Such amounts are detailed in our segment reconciliations below. The following tables present our segment information for the years ended December 31, 2023, 2022 and 2021. As a significant portion of our property and equipment is not allocated to our operating segments and depreciation is not included in our segment measure, we do not report the assets by segment as it would not be meaningful. We do not regularly provide such information to our chief operating decision makers.
  Year Ended December 31, 2023
(€ thousands)Developed EuropeAmericasRest of WorldCorporate & EliminationsTotal
Referral revenue215,687 176,404 84,749 — 476,840 
Subscription revenue— — — 2,571 2,571 
Other revenue— — — 5,620 5,620 
Total revenue215,687 176,404 84,749 8,191 485,031 
Advertising spend147,713 118,965 56,469 — 323,147 
ROAS contribution67,974 57,439 28,280 8,191 161,884 
Costs and expenses:
Cost of revenue, including related party, excluding amortization11,971 
Other selling and marketing, including related party (1)
22,492 
Technology and content, including related party49,020 
General and administrative, including related party38,726 
Amortization of intangible assets135 
Impairment of intangible assets and goodwill196,127 
Operating loss(156,587)
Other income/(expense)
Interest expense(12)
Interest income5,213 
Other, net(478)
Total other income/(expense), net4,723 
Loss before income taxes(151,864)
Expense for income taxes12,391 
Loss before equity method investment(164,255)
Loss from equity method investment(221)
Net loss(164,476)
(1) Represents all other sales and marketing, excluding Advertising Spend, as Advertising Spend is tracked by reporting segment.
  Year Ended December 31, 2022
(€ thousands)Developed EuropeAmericasRest of WorldCorporate & EliminationsTotal
Referral revenue237,692 216,406 67,692 — 521,790 
Subscription revenue— — — 3,398 3,398 
Other revenue— — — 9,816 9,816 
Total revenue237,692 216,406 67,692 13,214 535,004 
Advertising spend149,823 131,638 35,862 — 317,323 
ROAS contribution87,869 84,768 31,830 13,214 217,681 
Costs and expenses:
Cost of revenue, including related party, excluding amortization12,691 
Other selling and marketing, including related party (1)
24,701 
Technology and content, including related party54,921 
General and administrative, including related party60,852 
Amortization of intangible assets136 
Impairment of intangible assets and goodwill
184,642 
Operating loss(120,262)
Other income/(expense)
Interest expense(51)
Interest income622 
Other, net(556)
Total other income/(expense), net15 
Loss before income taxes(120,247)
Expense for income taxes6,570 
Loss before equity method investment(126,817)
Loss from equity method investment(401)
Net loss(127,218)
(1) Represents all other sales and marketing, excluding Advertising Spend, as Advertising Spend is tracked by reporting segment.
  Year Ended December 31, 2021
(€ thousands)Developed EuropeAmericasRest of WorldCorporate & EliminationsTotal
Referral revenue163,700 140,143 45,599 — 349,442 
Subscription revenue— — — 3,914 3,914 
Other revenue— — — 8,109 8,109 
Total revenue163,700 140,143 45,599 12,023 361,465 
Advertising spend106,984 94,096 22,470 — 223,550 
ROAS contribution56,716 46,047 23,129 12,023 137,915 
Costs and expenses:
Cost of revenue, including related party, excluding amortization11,500 
Other selling and marketing, including related party (1)
25,646 
Technology and content, including related party52,374 
General and administrative, including related party38,208 
Amortization of intangible assets136 
Operating income10,051 
Other income/(expense)
Interest expense(389)
Interest income
174 
Other, net13,454 
Total other income/(expense), net13,239 
Income before income taxes23,290 
Expense for income taxes12,586 
Net income10,704 
(1) Represents all other sales and marketing, excluding Advertising Spend, as Advertising Spend is tracked by reporting segment.
Geographic information
The following table presents revenue by geographic area for the years ended December 31, 2023, 2022 and 2021. Referral Revenue was allocated by country using the same methodology as the allocation of segment revenue, while non-Referral Revenue was allocated either based upon the location of the customer using the service, or using the same methodology as the allocation of segment revenue, depending on the nature of the non-Referral Revenue stream.
Year ended December 31,
(in thousands)202320222021
Total revenues
United States106,032 139,885 102,687 
Germany45,209 52,789 42,301 
United Kingdom55,867 68,554 41,389 
Canada29,240 31,899 11,862 
Japan39,016 19,200 5,999 
All other countries209,667 222,677 157,227 
485,031 535,004 361,465 
The following table presents property and equipment, net for Germany and all other countries, as of December 31, 2023 and 2022:
(€ thousands)Years ended December 31,
20232022
Property and equipment, net:
Germany10,040 13,012 
All other countries39 63 
10,079 13,075