Annual report pursuant to Section 13 and 15(d)

Revenue

v3.22.0.1
Revenue
12 Months Ended
Dec. 31, 2021
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 contracted minimum guarantees.

Disaggregated revenue by customer type is as follows:

Year Ended December 31, 

(in thousands)

    

2021

    

2020

    

2019

Advertiser - direct

$

135,516

$

106,422

$

84,423

Advertiser - programmatic

 

167,798

 

116,115

 

83,475

Supply-side customer

 

29,427

 

21,380

 

14,765

Total revenue

$

332,741

$

243,917

$

182,663

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 $55.7 million and $44.9 million as of December 31, 2021 and 2020, respectively. The increase in unbilled receivable balances were 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.