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Segment Information
 9 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
The Company’s operating and reportable segments have been determined in accordance with ASC 280, Segment Reporting (“ASC 280”). The Company has four reportable segments: i) Senior, ii) Healthcare Services, iii) Life, and iv) Auto & Home. The Company includes non-operating activity, share-based compensation expense, certain intersegment eliminations, and the costs of providing corporate and other administrative services in its administrative division in Corporate & Eliminations. These services and activities are not directly identifiable with the Company’s reportable segments and are shown in the tables below to reconcile the reportable segments to the condensed consolidated financial statements. The Company has not aggregated any operating segments into a reportable segment.

The Company reports segment information based on how its chief operating decision maker ("CODM") regularly reviews its operating results, allocates resources, and makes decisions regarding business operations. The performance measures of the segments include total revenue and Adjusted EBITDA because management believes that such information is the most relevant in evaluating the results of the respective segments relative to other entities that operate in the same industries.

Costs of revenue, cost of goods sold-pharmacy revenue, marketing and advertising, selling, general, and administrative, and technical development operating expenses that are directly attributable to a segment are reported within the applicable segment. Indirect costs of revenue, marketing and advertising, selling, general, and administrative, and technical development operating expenses are allocated to each segment based on varying metrics such as headcount. Adjusted EBITDA is calculated as total revenue for the applicable segment less direct and allocated costs of revenue, cost of goods sold, marketing and advertising, technical development, and selling, general, and administrative operating costs and expenses, excluding depreciation and amortization expense; gain or loss on disposal of property, equipment, and software; share-based compensation expense; and non-recurring expenses such as severance payments and transaction costs. Our CODM does not separately evaluate assets by segment, with the exception of commissions receivable; therefore, assets by segment are not presented.
The following table presents information about the reportable segments for the three months ended March 31, 2024:

(in thousands)SeniorHealthcare ServicesLifeAuto & HomeCorp & ElimsConsolidated
Revenue$204,259 $124,207 $40,686 $9,134 $(1,886)(1)$376,400 
Operating expenses(142,765)(122,598)(37,548)(5,524)(21,355)(2)(329,790)
Other income (expense), net— — — (1)(11)(12)
Adjusted EBITDA$61,494 $1,609 $3,138 $3,609 $(23,252)46,598 
Share-based compensation expense(3,515)
Transaction costs(3)
(3,325)
Depreciation and amortization(6,704)
Loss on disposal of property, equipment, and software(4)
Interest expense, net(24,330)
Income tax expense
(169)
Net income
$8,551 
(1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments, including for lead generation referrals from InsideResponse (within Senior) and referrals between the other segments.
(2) Operating expenses in the Corp & Elims division primarily include $16.2 million in salaries and benefits for certain general, administrative, and IT related departments and $3.9 million in professional services fees.
(3) These expenses primarily consist of financing transaction costs and non-restructuring severance expenses.

The following table presents information about the reportable segments for the three months ended March 31, 2023:

(in thousands)SeniorHealthcare ServicesLifeAuto & HomeCorp & ElimsConsolidated
Revenue$185,200 $70,725 $36,950 $8,238 $(1,715)(1)$299,398 
Operating expenses(126,034)(74,091)(31,446)(5,648)(17,947)(2)(255,166)
Other income (expense), net— — (201)1 (6)(206)
Adjusted EBITDA$59,166 $(3,366)$5,303 $2,591 $(19,668)44,026 
Share-based compensation expense(2,959)
Transaction costs (3)
(433)
Depreciation and amortization(7,098)
Loss on disposal of property, equipment, and software(15)
Interest expense, net(21,105)
Income tax expense
(3,152)
Net income
$9,264 
(1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments, including for lead generation referrals from InsideResponse (within Senior) and referrals between the other segments.
(2) Operating expenses in the Corp & Elims division primarily include $12.6 million in salaries and benefits for certain general, administrative, and IT related departments and $4.6 million in professional services fees.
(3) These expenses consist of costs related to the Senior Secured Credit Facility and non-restructuring severance expenses.

The following table presents information about the reportable segments for the nine months ended March 31, 2024:

(in thousands)SeniorHealthcare ServicesLifeAuto & HomeCorp & ElimsConsolidated
Revenue$541,705 $333,284 $115,855 $28,649 $(4,926)(1)$1,014,567 
Operating expenses(402,834)(326,373)(102,910)(16,994)(62,770)(2)(911,881)
Other income (expense), net— — — (1)(50)(51)
Adjusted EBITDA$138,871 $6,911 $12,945 $11,654 $(67,746)102,635 
Share-based compensation expense(10,512)
Transaction costs(3)
(7,629)
Depreciation and amortization(18,591)
Loss on disposal of property, equipment, and software(13)
Interest expense, net(70,141)
Income tax benefit
1,143 
Net loss
$(3,108)
(1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments primarily for lead generation referrals from InsideResponse (within Senior) to the other segments.
(2) Operating expenses in the Corp & Elims division primarily include $46.7 million in salaries and benefits for certain general, administrative, and IT related departments and $12.0 million in professional services fees.
(3) These expenses primarily consist of financing transaction costs and non-restructuring severance expenses.

The following table presents information about the reportable segments for the nine months ended March 31, 2023:
(in thousands)SeniorHealthcare ServicesLifeAuto & HomeCorp & ElimsConsolidated
Revenue$486,541 $169,270 $107,780 $23,128 $(5,649)(1)$781,070 
Operating expenses(347,608)(193,726)(91,409)(15,812)(52,270)(2)(700,825)
Other income (expense), net— — — (1)(117)(118)
Adjusted EBITDA$138,933 $(24,456)$16,371 $7,315 $(58,036)80,127 
Share-based compensation expense(8,525)
Transaction costs (3)
(3,003)
Depreciation and amortization(21,087)
Loss on disposal of property, equipment, and software(386)
Interest expense, net(58,885)
Income tax benefit
1,053 
Net loss
$(10,706)
(1) Revenue in the Corp & Elims division represents intercompany revenue eliminated between segments primarily for lead generation referrals from InsideResponse (within Senior) to the other segments.
(2) Operating expenses in the Corp & Elims division primarily include $36.8 million in salaries and benefits for certain general, administrative, and IT related departments and $13.8 million in professional services fees.
(3)These expenses primarily consist of costs related to the Fourth Amendment to the Senior Secured Credit Facility and non-restructuring severance expenses.

Revenues from each of the reportable segments are earned from transactions in the United States and follow the same accounting policies used for the Company’s condensed consolidated financial statements. All of the Company’s long-lived assets are located in the United States. For the three months ended March 31, 2024, three customers accounted for 27% (UHC), 20% (Aetna), and 18% (Humana) of total revenue. For the three months ended March 31, 2023, three customers accounted for 31% (UHC), 24% (Humana), and 8% (Wellcare) of total revenue. For the nine months ended March 31, 2024, three customers accounted for 30% (UHC), 18% (Humana), and 15% (Aetna) of total revenue. For the nine months ended March 31, 2023, three customers accounted for 31% (UHC), 21% (Humana), and 10% (Wellcare) of total revenue. For all periods presented, the revenue was provided by both the Senior and Healthcare Services segments.