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Consolidated Financial Statements Details | 6 Months Ended
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Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract] |
Consolidated Financial Statements Details | NOTE 6. CONSOLIDATED FINANCIAL STATEMENTS DETAILS Consolidated Balance Sheets Details Accounts Receivable, Net Accounts receivable consisted of the following:
|  | As of |
|  | June 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Accounts receivable — Advertising |  | $ | 21,748 |  |  | $ | 19,184 |
Accounts receivable — aiWARE SaaS Solutions |  |  | 2,426 |  |  |  | 1,269 |
Accounts receivable — aiWARE Content Licensing and Media Services |  |  | 606 |  |  |  | 928 |
|  |  | 24,780 |  |  |  | 21,381 |
Less: allowance for doubtful accounts |  |  | (245 | ) |  |  | (29 | )
Accounts receivable, net |  | $ | 24,535 |  |  | $ | 21,352 |
The amount that the Company invoices and collects from advertising clients includes the cost of the advertisement placed for them with broadcasters and the amount of the commission earned by the Company. The average commission earned by the Company is less than 15% of the total amount invoiced and collected from the advertising clients. Property, Equipment and Improvements, Net Property, equipment and improvements, net consisted of the following:
|  | As of |
|  | June 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Property and equipment |  | $ | 2,277 |  |  | $ | 2,247 |
Leasehold improvements |  |  | 2,876 |  |  |  | 2,876 |
|  |  | 5,153 |  |  |  | 5,123 |
Less: accumulated depreciation |  |  | (2,421 | ) |  |  | (1,909 | )
Property, equipment and improvements, net |  | $ | 2,732 |  |  | $ | 3,214 |
Depreciation expense was $256 and $512 for the three and six months ended June 30, 2020, respectively. Depreciation expense was $263 and $555 for the three and six months ended June 30, 2019, respectively. Accounts Payable Accounts payable consisted of the following:
|  | As of |
|  | June 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Accounts payable — Advertising |  | $ | 19,399 |  |  | $ | 15,697 |
Accounts payable — Other |  |  | 1,099 |  |  |  | 1,317 |
Total |  | $ | 20,498 |  |  | $ | 17,014 |
Accounts payable – Advertising reflects the amounts due to broadcasters for advertisements placed on behalf of the Company’s advertising clients. Consolidated Statement of Operations and Comprehensive Loss Details Net Revenues Net revenues for the periods presented were comprised of the following:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Advertising |  | $ | 7,038 |  |  | $ | 5,842 |  |  | $ | 13,039 |  |  | $ | 11,556 |
aiWARE SaaS Solutions |  |  | 3,002 |  |  |  | 2,677 |  |  |  | 6,110 |  |  |  | 5,431 |
aiWARE Content Licensing and Media Services |  |  | 3,228 |  |  |  | 3,751 |  |  |  | 6,023 |  |  |  | 7,408 |
Total net revenues |  | $ | 13,268 |  |  | $ | 12,270 |  |  | $ | 25,172 |  |  | $ | 24,395 |
During the three and six months ended June 30, 2020, the Company made $54,524 and $109,248, respectively, in gross media placements, of which $50,697 and $100,743 respectively, were billed directly to clients. Of the amounts billed directly to clients, $45,011 and $89,646 represented media-related costs netted against billings during the three and six months ended June 30, 2020, respectively. During the three and six months ended June 30, 2019, the Company made $52,973 and $103,755, respectively, in gross media placements, of which $48,676 and $97,744 respectively, were billed directly to clients. Of the amounts billed directly to clients, $43,125 and $86,712 represented media-related costs netted against billings during the three and six months ended June 30, 2019, respectively. Disaggregated Revenue Net revenues disaggregated were as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Advertising (by service type): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency |  | $ | 6,140 |  |  | $ | 5,842 |  |  | $ | 12,021 |  |  | $ | 11,556 |
VeriAds |  |  | 898 |  |  |  | - |  |  |  | 1,018 |  |  |  | - |
Sub-total |  |  | 7,038 |  |  |  | 5,842 |  |  |  | 13,039 |  |  |  | 11,556 |
aiWARE SaaS Solutions (by market): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Media and Entertainment |  |  | 2,612 |  |  |  | 2,470 |  |  |  | 5,224 |  |  |  | 4,705 |
Government, Legal and Compliance |  | 139 |  |  | 207 |  |  |  | 635 |  |  | 726 |
Other Markets |  | 251 |  |  |  | - |  |  |  | 251 |  |  |  | - |
Sub-total |  |  | 3,002 |  |  |  | 2,677 |  |  |  | 6,110 |  |  |  | 5,431 |
aiWARE Content Licensing and Media Services (by service type): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Content Licensing |  |  | 3,228 |  |  |  | 3,454 |  |  |  | 6,023 |  |  |  | 7,108 |
Media Services |  |  | - |  |  | 297 |  |  |  | - |  |  | 300 |
Sub-total |  |  | 3,228 |  |  |  | 3,751 |  |  |  | 6,023 |  |  |  | 7,408 |
Total net revenues |  | $ | 13,268 |  |  | $ | 12,270 |  |  | $ | 25,172 |  |  | $ | 24,395 |
Other Income (Expense), Net Other income (expense), net for the periods presented was comprised of the following:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Interest income, net |  | $ | 5 |  |  | $ | 160 |  |  | $ | 82 |  |  | $ | 329 |
Change in fair value of warrant liability |  |  | (202 | ) |  |  | (37 | ) |  |  | (200 | ) |  |  | (50 | )
Other |  |  | (38 | ) |  |  | (72 | ) |  |  | 14 |  |  |  | (17 | )
Other income (expense), net |  | $ | (235 | ) |  | $ | 51 |  |  | $ | (104 | ) |  | $ | 262 |

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