v3.25.3
Revenues (Tables)
9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue

The following table depicts the Company's disaggregated revenue for the periods presented:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Subscription

 

$

21,182

 

 

$

27,238

 

 

$

67,794

 

 

$

84,015

 

Advisory

 

 

348

 

 

 

1,123

 

 

 

1,724

 

 

 

3,345

 

Advertising

 

 

282

 

 

 

437

 

 

 

1,237

 

 

 

1,259

 

Books

 

 

1

 

 

 

39

 

 

 

7

 

 

 

220

 

Other revenue

 

 

616

 

 

 

602

 

 

 

2,442

 

 

 

1,958

 

Total

 

$

22,429

 

 

$

29,439

 

 

$

73,204

 

 

$

90,797

 

Schedule of Revenue by Geographic Operations

The following table depicts the Company’s revenue by geographic operations for the periods presented:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

North America

 

$

21,083

 

 

$

23,073

 

 

$

64,692

 

 

$

72,134

 

Europe

 

 

1,346

 

 

 

5,527

 

 

 

7,898

 

 

 

16,178

 

Australia

 

 

-

 

 

 

328

 

 

 

614

 

 

 

950

 

Asia

 

 

-

 

 

 

511

 

 

 

-

 

 

 

1,535

 

Total

 

$

22,429

 

 

$

29,439

 

 

$

73,204

 

 

$

90,797

 

Schedule of Deferred Revenue

Details of the Company’s deferred revenue for the periods presented are as follows:

Balance at December 31, 2023

 

$

44,405

 

Sale of Board.org

 

 

(9,117

)

Revenue recognized in the current period from amounts in the prior balance

 

 

(35,869

)

New deferrals, net of amounts recognized in the current period

 

 

40,594

 

Effects of foreign currency

 

 

378

 

Balance at September 30, 2024

 

$

40,391

 

 

 

 

 

Balance at December 31, 2024

 

$

35,475

 

Sale of businesses

 

 

(7,698

)

Revenue recognized in the current period from amounts in the prior balance

 

 

(30,933

)

New deferrals, net of amounts recognized in the current period

 

 

33,772

 

Effects of foreign currency

 

 

473

 

Balance at September 30, 2025

 

$

31,089