Annual report pursuant to Section 13 and 15(d)

Revenue

v3.24.0.1
Revenue
12 Months Ended
Dec. 31, 2023
Revenue  
Revenue

3. Revenue

The following table disaggregates revenue between advertiser customers, where revenue is generated based on the number of ads measured for Measurement (f/k/a Advertiser – direct) or measured and purchased for Activation (f/k/a Advertiser – 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 was as follows:

Year Ended December 31, 

(in thousands)

    

2023

    

2022

    

2021

Activation (f/k/a Advertiser - programmatic)

$

328,936

$

251,198

$

167,798

Measurement (f/k/a Advertiser - direct)

 

198,024

 

157,908

 

135,516

Supply-side customer

 

45,583

 

43,312

 

29,427

Total revenue

$

572,543

$

452,418

$

332,741

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 $55.0 million and $52.7 million as of December 31, 2023 and 2022, respectively.

Remaining Performance Obligations

As of December 31, 2023, the Company had $10.9 million of remaining performance obligations which are expected to be recognized over the next one to three years. These non-cancelable supply-side arrangements have original expected durations longer than one year and for which the consideration is not variable. These obligations relate primarily to the Company’s supply-side revenue which represented $45.6 million, or 8.0% of the Company’s total revenue as of December 31, 2023. The vast majority of the Company’s revenue is derived primarily from our advertising customers and partners based on the volume of media transactions, or ads, that our software platform measures, and not from supply-side arrangements. In determining the remaining performance obligations, the Company applied the allowable practical expedient and did not disclose information about (1) contracts remaining performance obligations that have original expected durations of one year or less and (2) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed.