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REVENUE
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
Disaggregation of Revenue
The Company believes that the disaggregation based on the reportable segments best depicts how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by industry, market, and other factors. As described in Note 12 – Segment Information, the Company has two reportable segments, Travel Marketplace and SaaS Platform.
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2024 202320242023
Travel Marketplace revenues$58,003 $56,652 $115,760 $106,201 
 Travel Transaction revenues55,675 52,875 110,119 98,957 
  Air30,645 32,887 59,057 69,647 
  Travel Package16,573 11,228 32,539 17,820 
  Hotel6,158 6,564 13,649 8,368 
  Other2,299 2,196 4,874 3,122 
 Fintech Program revenues2,328 3,777 5,641 7,244 
SaaS Platform revenues323 119 587 499 
Subscription services revenue323 119 587 499 
Revenues, net$58,326 $56,771 $116,347 $106,700 
Revenue by sales channel
The following table presents the Travel Marketplace segment by sales channel for the for the three and six months ended June 30, 2024 and 2023:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2024202320242023
Transactions through affiliates and with customers$58,003 $53,806 $115,663 $98,360 
Transactions from travelers’ direct bookings— 2,846 97 7,841 
Travel Marketplace revenues$58,003 $56,652 $115,760 $106,201 
The Company generates mark-up fees and certain commissions from booking reservations directly placed by travelers through our platform. Amounts for transactions through affiliates and with customers includes revenues generated from mark-up fees and commissions via bookings placed by travel agencies.
Contract Balances
The opening and closing balances of accounts receivable, contract assets and deferred revenue are as follows:
(in thousands)Accounts
Receivable		Contract
 Asset		Deferred
Revenue
Ending Balance as of December 31, 2023$116,632 $13,228 $17,483 
Increase/(decrease), net (22,285)6,476 (1,780)
Ending Balance as of June 30, 2024$94,347 $19,704 $15,703 
As of June 30, 2024, accounts receivable presented on the consolidated balance sheets includes $1.0 million of accounts receivable from our customers, including travel product suppliers, our Global Distribution System (“GDS”) service providers, our bank partners that partake in our Fintech Program and our Software-as-a-service (“SaaS”) platform users; $61.6 million of other receivables from financing institutions that we partner with (refer to further discussions below), and $31.7 million of other receivables from affiliated travel agencies and travelers.
In partnering with financing institutions, the Company has the option to collect payments upfront or receive in installments as they become due. Fees paid to financing institutions for payments received in installments are recorded within sales and marketing expenses, as such expenses are associated with the collection of other receivables due from travelers and travel agencies. Financing fees associated with upfront payments are recorded within interest expense, as the Company pays additional fees to financing institutions as compared to the collection on the scheduled installments. During the three and six months ended June 30, 2024, the Company incurred upfront payment collection fees of $1.0 million and $2.8 million, respectively, which represents 6% and 11% of the total other expense, net on the consolidated statements of operations. During the three and six months ended June 30, 2023, the Company incurred upfront payment collection fees of $0.7 million and $1.1 million, respectively, which represents 10% and 8% of the total other expense, net on the consolidated statements of operations.
During the six months ended June 30, 2024, the Company recognized revenue of $1.7 million from the deferred revenue balance as of December 31, 2023.