Segment Reporting

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

Leafly Holdings, Inc.[Member]

Segment Reporting [Line Items]

Segment Reporting

NOTE 18 — Segment Reporting

Operating segments are components of an enterprise for which discrete financial information is available for evaluation by the chief operating decision maker (CODM) in making decisions regarding the allocation of resources and assessing performance. The Company has determined that its Chief Executive Officer is the CODM. Segment gross margin is the segment measure of profit or loss used to assess segment performance. The Company operates its business and reports its financial performance using two segments: Retail and Brands, which are groupings of service offerings, as described below.

Retail comprises offerings that allow the Company’s customers to engage in commerce with their customers, in addition to the Brands advertising and marketing offerings.

Brands comprises offerings that allow the Company’s customers to advertise and market to their customers. These offerings include advertising and marketing through directory listing, direct emails, and mobile push notifications, for example. Brands offerings do not include commerce functionality.

Segment revenue and gross margin were as follows during the periods presented:

	Nine Months Ended September 30,
	2021		2020
Revenue:
Retail	$	24,572	$	21,917
Brands		6,387		5,185
Total revenue	$	30,959	$	27,102
Gross margin:
Retail		22,339		19,524
Brands		5,056		4,005
Total gross margin	$	27,395	$	23,529

Assets are not allocated to segments for internal reporting presentations, nor are depreciation and amortization.

Geographic Areas

The Company’s operations are primarily in the U.S. and to a lesser extent, in certain other countries. Refer to Note 8 for revenue classified by major geographic area.

NOTE 16 — Segment Reporting

Operating segments are components of an enterprise for which discrete financial information is available for evaluation by the chief operating decision maker (CODM) in making decisions regarding the allocation of resources and assessing performance. The Company has determined that its Chief Executive Officer is the CODM. Segment gross margin is the segment measure of profit or loss used to assess segment performance. The Company operates its business and reports its financial performance using two segments: Retail and Brands, which are groupings of service offerings, as described below.

Retail comprises offerings that allow the Company’s customers to engage in commerce with their customers, in addition to the Brands advertising and marketing offerings.

Brands comprises offerings that allow the Company’s customers to advertise and market to their customers. These offerings include advertising and marketing through directory listing, direct emails, and mobile push notifications, for example. Brands offerings do not include commerce functionality.

Segment revenue and gross margin were as follows during the periods presented:

	2020		2019
Revenue:
Retail	$	29,591		23,724
Brands		6,801		6,348
Total Revenue	$	36,392	$	30,072
Gross margin:
Retail	$	26,290	$	20,795
Brands		5,140		5,368
Total gross margin	$	31,430	$	26,163

Assets are not allocated to segments for internal reporting presentations, nor are depreciation and amortization.

Geographic Areas

The Company’s operations are primarily in the United States and to a lesser extent, in certain other countries. Refer to Note 7 for revenue classified by major geographic area.