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Balance Sheet Components

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Balance Sheet Components

Marketable Securities

The following tables summarize the Company’s marketable securities by significant investment categories (in thousands):

			March 31, 2024
			Amortized Cost						Unrealized Gain						Unrealized Loss						Fair Value
Commercial paper			$	47,856					$	—					$	(21)					$	47,835
U.S. Treasury and government debt securities			46,052						1						(1)						46,052
Total			$	93,908					$	1					$	(22)					$	93,887
			December 31, 2023
			Amortized Cost						Unrealized Gain						Unrealized Loss						Fair Value
Commercial paper			$	50,975					$	3					$	(16)					$	50,962
Agency debt securities			2,997						—						(2)						2,995
U.S. Treasury and government debt securities			42,867						12						(1)						42,878
Total			$	96,839					$	15					$	(19)					$	96,835

The remaining contractual maturity of all marketable securities was within one year as of March 31, 2024 and December 31, 2023. Realized gains and losses were not material for the three months ended March 31, 2024 and 2023. As of March 31, 2024 and 2023, there were no securities that were in an unrealized loss position for more than twelve months.

Property, Equipment and Software, Net

Property, equipment and software, net consisted of the following (in thousands):

			March 31, 2024						December 31, 2023
Internal-use software			$	62,149					$	56,257
Network hardware, computer equipment and software			137,757						137,709
Leasehold improvements			5,328						5,173
Furniture and fixtures			2,303						2,304
Property, equipment and software, gross			207,537						201,443
Less: accumulated depreciation and amortization			(150,987)						(140,714)
Total property, equipment and software, net			$	56,550					$	60,729

Depreciation and amortization expense related to property, equipment, and software (excluding amortization of internal-use software) was $6.6 million and $7.3 million for the three months ended March 31, 2024 and 2023, respectively.

The Company capitalized $5.9 million and $5.4 million in software development costs during the three months ended March 31, 2024 and 2023, respectively. Amortization expense of internal-use software was $4.2 million and $2.8 million during the three months ended March 31, 2024 and 2023, respectively. These costs are included within cost of revenue in the condensed consolidated statements of operations.

The Company did not recognize any impairment charges on its long-lived assets during the three months ended March 31, 2024 and 2023, respectively.

Accounts Payable

Accounts payable consisted of the following (in thousands):

			March 31, 2024						December 31, 2023
Payable to publishers			$	275,925					$	335,061
Trade and other payables			13,251						12,612
Total accounts payable			$	289,176					$	347,673

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):

			March 31, 2024						December 31, 2023
Accrued compensation			$	11,350					$	18,784
Accrued and other current liabilities			8,413						6,900
Total accrued liabilities			$	19,763					$	25,684

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- References

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- Definition

The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//210/tableOfContent

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