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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
We have the following reportable segments: Travel Marketplace and SaaS Platform. These reportable segments offer different products and services and are managed separately because the nature of products and services, and methods used to distribute the services are different. Our primary segment measure is Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). Assets, liabilities, income tax expense and certain other expenses are reviewed on an entity-wide basis by the Chief Operating Decision Maker (“CODM”), and hence are not allocated to these reportable segments. Segment revenue is reported and reviewed by the CODM on a monthly basis.
Our segment reconciliation is included below.
Three Months Ended June 30, 2024
(in thousands)Travel MarketplaceSaaS PlatformTotal
Revenue$58,003 $323 $58,326 
Adjusted EBITDA4,604 1,507 6,111 
Depreciation and amortization(3,653)
Stock-based compensation and related payroll tax expense(11,991)
Restructuring expense, net(158)
Acquisition and integration related costs(15)
Financing and refinancing related costs(9)
Certain other expenses1
(528)
Change in fair value of earn-out liabilities(58)
Operating loss$(10,301)
Total other expense, net (15,215)
Loss before income taxes(25,516)
Benefit (provision) for income taxes4 
Net loss$(25,512)
1Includes expenses primarily related to professional service expenses for other non-core operating activities, including LBF US divestiture and transition service expense and legal service expenses.

Three Months Ended June 30, 2023
(in thousands)
Travel MarketplaceSaaS PlatformTotal
Revenue$56,652 $119 $56,771 
Adjusted EBITDA1
4,948 (510)4,438 
Depreciation and amortization(3,803)
Restructuring income (expense), net168 
Stock-based compensation and related payroll tax expense(4,890)
Acquisition and integration related costs(365)
Financing and refinancing related costs(139)
Certain other expenses2
(731)
Change in fair value of earn-out liabilities$(530)
Operating loss$(5,852)
Total other expense, net (6,748)
Loss before income taxes(12,600)
Benefit (provision) for income taxes(2,008)
Net loss$(14,608)
1Adjusted EBITDA has been conformed to the current period presentation for period over period comparability.
2Includes expenses primarily related to transaction filing fees.

Six Months Ended June 30, 2024
(in thousands)Travel MarketplaceSaaS PlatformTotal
Revenue$115,760 $587 $116,347 
Adjusted EBITDA10,726 441 11,167 
Depreciation and amortization(9,216)
Stock-based compensation and related payroll tax expense(17,298)
Restructuring (income) expense, net131 
Acquisition and integration related costs(633)
Financing and refinancing related costs(634)
Certain other expenses1
(708)
Change in fair value of earn-out liabilities(1,297)
Operating loss$(18,488)
Total other expense, net (25,841)
Loss before income taxes(44,329)
Benefit (provision) for income taxes(641)
Net loss$(44,970)
1Includes expenses primarily related to professional service expenses for other non-core operating activities, including LBF US divestiture and transition service expense and legal service expenses.

Six Months Ended June 30, 2023
(in thousands)
Travel MarketplaceSaaS PlatformTotal
Revenue$106,201 $499 $106,700 
Adjusted EBITDA1
8,984 (389)8,595 
Depreciation and amortization(7,189)
Restructuring expense, net(1,361)
Stock-based compensation and related payroll tax expense(7,451)
Acquisition and integration related costs(644)
Financing and refinancing related costs(545)
Certain other expenses(1,203)
Change in fair value of earn-out liabilities(701)
Operating loss$(10,499)
Total other expense, net (14,317)
Loss before income taxes(24,816)
Benefit (provision) for income taxes(2,707)
Net loss$(27,523)
1Adjusted EBITDA has been conformed to the current period presentation for period over period comparability.
Geographic Information
Geographic stratification changed subsequent to 2023, as a result of the impact of the 2023 acquisitions viewed in comparison to the whole company.
Revenue by geographic area, based on the geographic location of the Company’s subsidiaries is as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2024202320242023
United States $29,273 $33,025 $56,992 $70,577 
Brazil24,817 19,760 50,861 28,864 
Rest of Americas4,212 3,986 8,442 7,259 
Asia Pacific24 — 52 — 
$58,326 $56,771 $116,347 $106,700 
Long-lived assets (excluding capitalized software) and operating lease assets by geographic area is as follows:
June 30,December 31,
(in thousands)20242023
United States$3,230 $2,432 
India776 979 
Brazil451 569 
Rest of the world385 148 
$4,842 $4,128