SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2025

The Company manages its business and reports its financial results through the following three operating and reportable segments: Home, Consumer, and Insurance. Characteristics which were relied upon in making the determination of the reportable segments include the nature of the products, the organization's internal structure, and the information that is regularly reviewed by the CODM, the Company’s Chief Executive Officer, for the purpose of assessing performance and allocating resources.

The Home segment includes the following products: purchase mortgage, refinance mortgage, and home equity loans and lines of credit. The Consumer segment includes the following products: credit cards, personal loans, small business loans, auto loans, deposit accounts, and other credit products such as credit repair and debt settlement. The credit repair business was closed at the end of the second quarter of 2023. In the fourth quarter of 2024, the Company made the decision to cease offering its student loan products. The Insurance segment consists of insurance quote products and sales of insurance policies in our agency businesses. The insurance agency business was closed in the second quarter of 2025.

The following tables are a reconciliation of segment profit, which is the Company's primary segment profitability measure, to income before income taxes. Segment cost of revenue and marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses, that are directly attributable to the segments' products. This measure excludes overhead, fixed costs and personnel-related expenses.


	Year Ended December 31, 2025
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	151,764	$	253,370	$	711,880	$	310	$	1,117,324
Segment cost of revenue and marketing expense	103,421		123,922		537,463		471		765,277
Segment profit (loss)	48,343		129,448		174,417		(161)		352,047
Cost of revenue									42,525
Brand and other marketing expense									47,627
General and administrative expense									112,888
Product development									45,251
Depreciation									16,459
Amortization of intangibles									5,190


Restructuring and severance									1,633
Litigation settlements and contingencies									15,661
Operating income									64,813
Interest expense, net									(46,787)
Other income									2,998
Income before income taxes									$	21,024


	Year Ended December 31, 2024
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	128,854	$	222,462	$	548,704	$	199	$	900,219
Segment cost of revenue and marketing expense	88,958		111,925		389,474		294		590,651
Segment profit (loss)	39,896		110,537		159,230		(95)		309,568
Cost of revenue									36,072
Brand and other marketing expense									45,312
General and administrative expense									108,705
Product development									46,358
Depreciation									18,300
Amortization of intangibles									5,889

Restructuring and severance									508
Litigation settlements and contingencies									3,797
Operating income									44,627
Interest expense, net									(27,849)
Other expense									(54,162)
Loss before income taxes									$	(37,384)


	Year Ended December 31, 2023
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	143,753	$	278,945	$	249,605	$	199	$	672,502
Segment cost of revenue and marketing expense	95,871		140,068		146,101		708		382,748
Segment profit (loss)	47,882		138,877		103,504		(509)		289,754
Cost of revenue									38,758
Brand and other marketing expense									50,840
General and administrative expense									117,700
Product development									47,197
Depreciation									19,070
Amortization of intangibles									7,694
Goodwill impairment									38,600
Restructuring and severance									10,118
Litigation settlements and contingencies									388
Operating loss									(40,611)
Interest income, net									21,685
Other expense									(105,993)
Loss before income taxes									$	(124,919)

The CODM does not review information on segment assets and as such, no segment asset information is reported herein.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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