XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 29,439 $ 34,009 $ 90,797 $ 98,380
Operating expenses:        
Cost of revenues, including amortization [1] 6,235 10,441 20,342 28,863
Research and development [1] 3,250 4,540 9,935 14,170
Sales and marketing [1] 9,068 11,235 27,484 35,222
Editorial [1] 4,639 4,516 13,752 13,533
General and administrative [1] 10,622 14,418 37,958 48,813
Amortization of intangible assets [1] 2,436 2,899 7,541 8,614
Impairment of goodwill [1]       5,837
Transaction (gains) costs, net [1]   (579) (4) 1,138
Total operating expenses [1] 36,250 47,470 117,008 156,190
Operating loss (6,811) (13,461) (26,211) (57,810)
Gain on sale of business (Note 4)     (71,599)  
Interest expense, net 5,585 8,018 18,267 21,853
Change in fair value of financial instruments 3,501 (7,157) 3,174 (18,850)
Loss on settlement       3,474
Other (income) expense, net (341) 207 (82) 245
Net (loss) income before income taxes (15,556) (14,529) 24,029 (64,532)
(Benefit) provision from income taxes (621) (62) 1,129 181
Net (loss) income (14,935) (14,467) 22,900 (64,713)
Other comprehensive income (loss) 1,123 (1,006) 1,062 (1,037)
Total comprehensive (loss) income (13,812) (15,473) 23,962 (65,750)
Net loss used to compute basic loss per share $ (14,935) $ (14,467) $ 22,900 $ (64,713)
Earnings (loss) per share attributable to common shareholders (Note 14):        
Basic $ (0.11) $ (0.11) $ 0.17 $ (0.49)
Diluted $ (0.11) $ (0.11) $ 0.17 $ (0.49)
Weighted average shares used in computing earnings (loss) per share attributable to common shareholders:        
Basic 135,050,093 128,832,502 135,160,124 131,994,563
Diluted 135,050,093 128,832,502 135,160,124 131,994,563
Subscription        
Revenues:        
Total revenues $ 27,238 $ 30,057 $ 84,015 $ 87,986
Advisory, advertising, and other        
Revenues:        
Total revenues $ 2,201 $ 3,952 $ 6,782 $ 10,394
[1] Amounts include stock-based compensation expenses, as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Cost of revenues, including amortization

 

$

116

 

 

$

45

 

 

$

324

 

 

$

185

 

Research and development

 

 

454

 

 

 

328

 

 

 

1,138

 

 

 

1,080

 

Sales and marketing

 

 

486

 

 

 

1,041

 

 

 

1,182

 

 

 

1,718

 

Editorial

 

 

200

 

 

 

120

 

 

 

465

 

 

 

292

 

General and administrative

 

 

2,925

 

 

 

4,690

 

 

 

10,776

 

 

 

14,937