General form of registration statement for all companies including face-amount certificate companies

Revenue

v3.21.2
Revenue
9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Revenue    
Revenue

3.     Revenue

The following table disaggregates revenue between advertiser customers, where revenue is generated based on number of ads measured for Direct or measured and purchased for Programmatic, and supply-side customers, where revenue is generated based on contracts with minimum guarantees or contracts that contain overages after minimum guarantees are achieved.

Disaggregated revenue by customer type is as follows:

Three Months Ended

    

Nine Months Ended

September 30, 

September 30, 

(in thousands)

    

2021

    

2020

    

2021

    

2020

Advertiser - direct

$

34,057

$

27,582

$

93,260

$

73,476

Advertiser - programmatic

 

41,902

 

28,044

 

113,694

 

76,023

Supply-side customer

 

7,139

 

5,411

 

20,254

 

15,777

Total revenue

$

83,098

$

61,037

$

227,208

$

165,276

Contract assets relate to the Company’s conditional right to consideration for completed performance under the contract (e.g., unbilled receivables). Trade receivables, net of allowance for doubtful accounts, include unbilled receivable balances of $36.1 million and $44.9 million as of September 30, 2021 and December 31, 2020, respectively.

3. Revenue

The following table disaggregates revenue between advertiser customers, where revenue is generated based on number of ads measured for Direct or measured and purchased for Programmatic, and supply-side customers, where revenue is generated based on contracted minimum guarantees and tiered pricing when guarantees are met.

Disaggregated revenue by customer type is as follows:

For the Years Ended December 31, 

(in thousands)

    

2020

    

2019

    

2018

Advertisers — direct

$

106,422

$

84,423

$

60,122

Advertisers — programmatic

 

116,115

 

83,475

 

36,866

Supply‑side customer

 

21,380

 

14,765

 

7,316

Total Revenue

$

243,917

$

182,663

$

104,304

Contract assets relate to the Company’s conditional right to consideration for completed performance under the contract (e.g., unbilled receivables). Trade receivables, net of allowance for doubtful accounts, include unbilled receivable balances of $44.9 million and $25.1 million as of December 31, 2020 and December 31, 2019, respectively. The increase in unbilled receivable balances was driven by an increase in revenue.

For the year ended December 31, 2020, as a concession to a Demand-Side Platform partner, the Company agreed to pay $4.6 million to that partner for amounts that were incorrectly billed by the partner and remitted to the Company in the period from January 2018 through December 2019. This concession was recognized as a reduction of revenue.