Annual report [Section 13 and 15(d), not S-K Item 405]

SEGMENT REPORTING (Tables)

v3.25.0.1
SEGMENT REPORTING (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables present the Company’s segment information:
Year Ended December 31, 2024
playGAMES playAWARDS Total
Net revenue
Virtual currency $ 228,877  $ 54  $ 228,931 
Advertising 60,197  —  60,197 
Other 293  8  301 
289,367  62  289,429 
Segment expenses
Cost of sales 72,710  6  72,716 
Payroll & related 49,994  10,035  60,029 
User acquisition 46,969  —  46,969 
Other(1)
34,620  3,731  38,351 
204,293  13,772  218,065 
Reportable segment AEBITDA 85,074  (13,710) 71,364 
Other operating expense
Corporate and other 14,815 
Restructuring expenses 25,710 
Other reconciling items 150 
Stock based compensation $ 18,113 
Depreciation and amortization 45,440 
104,228 
Non-operating income (expense)
Change in fair value of warrant liabilities 856 
Interest income (expense), net 4,902 
Other (expense) income, net $ (182)
5,576 
Income (loss) before income taxes (27,288)
Income tax expense $ (1,399)
Net income (loss) $ (28,687)
Year Ended December 31, 2023
playGAMES playAWARDS Total
Net revenue
Virtual currency
 $ 247,929  $ —  $ 247,929 
Advertising 58,236  —  58,236 
Other 549  4,172  4,721 
306,714  4,172  310,886 
Segment expenses
Cost of sales
 77,800  —  77,800 
Payroll & related
 47,787  11,133  58,920 
User acquisition
 60,693  —  60,693 
Other(1)
31,758  3,418  35,176 
218,038  14,551  232,589 
Reportable segment AEBITDA
 88,676  (10,379) 78,297 
Other operating expense
Corporate and other 16,005 
Restructuring expenses 8,584 
Other reconciling items 214 
Stock based compensation $ 18,722 
Depreciation and amortization 45,259 
88,784 
Non-operating income (expense)
Change in fair value of warrant liabilities 2,596 
Interest income (expense), net 4,858 
Other (expense) income, net $ 513 
7,967 
Income (loss) before income taxes (2,520)
Income tax expense
 $ (16,873)
Net income (loss) $ (19,393)
(1)Consists of legal, rent, information technology, outside services, marketing, and other general and administrative expenses.
Schedule of Reorganization Plan The following table presents the charges for the 2024 Reorganization Plan:
Year Ended December 31, 2024
playGAMES playAWARDS Corporate and Other Total
Severance and employee-related costs
 $ 3,956  $ 768  979  $ 5,703 
Asset impairments
 7,388  1,840  223  9,451 
Other
 568  39  468  1,075 
Total
 $ 11,912  $ 2,647  $ 1,670  $ 16,229 
Charges for the 2023 Reorganization Plan consisted of the following:
Year Ended December 31, 2023
playGAMES playAWARDS Corporate and Other Total
Severance and employee-related costs
 $ 2,823  $ —  —  $ 2,823 
Other
 —  —  247  247 
Total
 $ 2,823  $ —  $ 247  $ 3,070 
Schedule of Liabilities Associated with Reorganization Plans
The following table summarizes the activity related to the liabilities associated with the Company's reorganization plans for the years ended December 31, 2024 and 2023:
playGAMES playAWARDS Corporate and Other Total
Balance as of December 31, 2022
 $ —  $ —  $ —  $ — 
Reorganization charges
 2,823  —  247  3,070 
Non-cash charges
 —  —  (223) (223)
Payments
 (2,823) —  (24) (2,847)
Balance as of December 31, 2023
 —  —  —  — 
Reorganization charges
 11,912  2,647  1,670  16,229 
Non-cash charges
 (7,388) (1,840) (443) (9,671)
Payments
 (2,317) (611) (862) (3,790)
Balance as of December 31, 2024
 $ 2,207  $ 196  $ 365  $ 2,768