Annual Report on Form 10-K: Fiscal Year 2023

Key insights

6 takeaways · ~2 min read

01
The company's research, development, and engineering expenditures have decreased year-over-year, from $78.9 million in 2021 to $74.1 million in 2022, and further to $68.9 million in 2023.
02
Total revenues decreased in 2023 compared to the prior period, primarily due to a $40.5 million decline in advertising revenue in the Digital Media business and a $21.3 million decline in subscription revenue in the Cybersecurity and Martech business.
03
These revenue declines were partially offset by a $39.3 million increase in subscription revenue in the Digital Media business, and incremental revenue of $21.3 million from 2022 acquisitions and $3.0 million from 2023 acquisitions.
04
The company's cybersecurity risk management program is designed and assessed based on International Organization for Standardization (ISO) and National Institute of Standards and Technology (NIST) frameworks.
05
Direct costs increased by 0.9% from $195,554 thousand in 2022 to $197,292 thousand in 2023, representing 14.5% of revenue in 2023 compared to 14.1% in 2022.
06
The company completed multiple acquisitions in 2021, including DailyOM (health and wellness digital media), SEOmoz (search engine optimization solutions), Solutelia, LLC (wireless telecommunications software), Arthur L. Davis Publishing (digital nursing publication), and Root Wireless, Inc. (mobile analytics firm).