| Segment Reporting |
15. Segment Reporting
Business segments are components of an enterprise about which discrete financial information is available that is evaluated regularly by the CODM to assess operating performance and allocate resources. Our CODM is our CEO. Our operations are organized by management into operating segments by line of business. The CODM evaluates performance and allocates resources based on the segment operating income (loss) of the operating segments. The Company does not allocate its general and administrative expense function across its operating segments. We have two reportable segments: (i) software subscriptions and services and (ii) advertising. No segment-level asset information has been disclosed as our CODM does not review asset information by segment.
Reportable segment information for the year ended December 31, 2024, including significant expenses, is set forth below:
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Software Subscriptions & Services |
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Advertising |
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General & Administrative |
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Year ended December 31, 2024 |
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Net revenues |
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$ |
1,907 |
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$ |
1,282 |
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$ |
- |
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$ |
3,189 |
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Cost of revenues |
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1,270 |
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465 |
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- |
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1,735 |
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Gross profit |
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637 |
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817 |
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- |
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1,454 |
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Operating expenses: |
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Compensation |
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2,960 |
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498 |
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2,142 |
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5,600 |
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Consulting and professional fees |
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691 |
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- |
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4,533 |
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5,224 |
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Facilities and insurance |
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34 |
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5 |
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1,642 |
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1,681 |
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Stock-based compensation |
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135 |
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- |
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1,342 |
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1,477 |
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Other segment expenses(1) |
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539 |
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8 |
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814 |
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1,361 |
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Total operating expenses |
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4,359 |
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511 |
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10,473 |
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15,343 |
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Operating loss |
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(3,722 |
) |
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|
306 |
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(10,473 |
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(13,889 |
) |
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Other income (expense) |
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- |
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- |
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3,614 |
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3,614 |
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Net income (loss) from continued operations before taxes |
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$ |
(3,722 |
) |
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$ |
306 |
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$ |
(6,859 |
) |
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$ |
(10,275 |
) |
Reportable segment information for the year ended December 31, 2023, including significant expenses, is set forth below:
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Software Subscriptions & Services |
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Advertising |
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General & Administrative |
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Year ended December 31, 2023 |
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Net revenues |
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$ |
3,157 |
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$ |
1,675 |
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$ |
- |
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$ |
4,832 |
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Cost of revenues |
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2,468 |
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678 |
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- |
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3,146 |
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Gross profit |
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|
689 |
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997 |
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- |
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1,686 |
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Operating expenses: |
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Compensation |
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5,691 |
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661 |
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3,678 |
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10,030 |
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Consulting and professional fees |
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235 |
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1 |
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3,694 |
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3,930 |
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Facilities and insurance |
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4 |
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- |
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2,121 |
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2,125 |
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Stock-based compensation |
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365 |
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- |
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3,140 |
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3,505 |
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Impairment of goodwill |
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- |
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- |
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25,819 |
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25,819 |
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Other segment expenses(1) |
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792 |
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28 |
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1,148 |
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1,968 |
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Total operating expenses |
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7,087 |
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|
690 |
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39,600 |
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47,377 |
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Operating loss |
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(6,398 |
) |
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|
307 |
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(39,600 |
) |
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(45,691 |
) |
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Other income (expense) |
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- |
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- |
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3,776 |
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3,776 |
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Net income (loss) from continued operations before taxes |
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$ |
(6,398 |
) |
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$ |
307 |
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$ |
(35,824 |
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$ |
(41,915 |
) |
(1)Other segment expenses represent marketing, information technology related expenses, travel and other general operating expenses.
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