Deferred Revenue and Revenue by Type

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Deferred Revenue and Revenue by Type

NOTE 8 — Deferred Revenue and Revenue by Type

Deferred Revenue

Contract liabilities consist of deferred revenue, which is recorded on the Consolidated Balance Sheets when the Company has received consideration, or has the right to receive consideration, in advance of transferring the performance obligations under the contract to the customer.

The following table presents the Company's deferred revenue balances and changes therein:

	Year Ended December 31,
	2023			2022
Balance, beginning of year	$	1,958		$	1,975
Add: net increase in current period contract liabilities		1,595			1,942
Less: revenue recognized from beginning balance		(1,789	)		(1,959	)
Balance, end of year	$	1,764		$	1,958

A majority of the deferred revenue balance as of December 31, 2023 is expected to be recognized in the subsequent 12-month period. No other contract assets or liabilities are recorded on the Company’s Consolidated Balance Sheets as of December 31, 2023 and 2022.

Revenue by Type and Geography

The following table presents the Company’s revenue by service type:

	Year Ended December 31,
	2023		2022
Advertising 1	$	41,764	$	46,945
Other services 1		488		418
	$	42,252	$	47,363

1.Amounts for the prior period have been reclassified to conform to the current period presentation.

The following table presents the Company’s revenue by geographic region:

	Year Ended December 31,
	2023		2022
United States 1	$	40,509	$	44,424
All other countries 1		1,743		2,939
	$	42,252	$	47,363

1.Amounts for the prior period have been reclassified to conform to the current period presentation.

The following table presents the Company’s revenue by state:

	Year Ended December 31,
	2023			2022
Arizona		20	%		18	%
California		12	%		12	%
Oregon		10	%		10	%

No other state comprised 10% or more of Leafly’s revenue during the year ended December 31, 2023 and 2022. We have a diversified set of customers; no single customer accounted for 10% or more of our revenue for the year ended December 31, 2023 or 2022.

The following table presents the Company’s revenue by timing of recognition:

	Year Ended December 31,
	2023		2022
Over Time 1
Retail 2	$	35,923	$	36,742
Brands 3		4,537		6,722
		40,460		43,464
Point in time 1
Brands 4		1,792		3,899
	$	42,252	$	47,363

1.Amounts for the prior period have been reclassified to conform to the current period presentation.

2.Revenues from subscription services and display ads.

3.Revenues from brand profile subscriptions and digital media (including display ads and audience extension).

4.Revenues from channel advertising (including direct to consumer email).

Revenues recognized over time are associated with software subscriptions, display ads and audience extension. Revenues recognized at a point in time are associated with branded content and channel advertising. There are no material variations in delivery and revenue recognition periods within the over time category.