The Company maintains substantially all of its cash and cash equivalents with two financial institutions and are all considered at Level 1 fair value with observable inputs that reflect quoted prices for identical assets or liabilities in active markets.

The advertisers representing more than 10% of revenue are as follows (in percentages):

	Nine months ended September 30,						Three months ended September 30,
	2019			2020			2019			2020
Advertiser A		27	%		26	%		29	%		25	%
Advertiser B		12	%		16	%	*				14	%

The outstanding receivable balance for each advertiser representing more than 10% of accounts receivable is as follows (in percentages):

At December 31,

2019

At September 30,

2020

Advertiser A

Advertiser B

In certain cases, the Company may engage directly with one or more advertising agencies who act on an advertiser’s behalf. In addition, an advertising agency may represent more than one advertiser that utilizes the Company’s products and services. One advertising agency represented less than 10% and 10% of revenue for the three and nine months ended September 30, 2019, respectively, and 14% and 15% of revenue for the three and nine months ended September 30, 2020, respectively. This same advertising agency represented 37% and 31% of accounts receivable as of December 31, 2019 and September 30, 2020, respectively.

A significant amount of the Company’s revenue was previously earned from advertisers is generated through arrangements with distribution partners. The Company may not be successful in renewing any of these agreements, or, if they are renewed, they may not be on terms as favorable as current arrangements. The Company may not be successful in entering into agreements with new distribution partners or advertisers on commercially acceptable terms. In addition, several of these distribution partners or advertisers may be considered potential competitors. There were no distribution partners paid more than 10% of revenue for the three and nine months ended September 30, 2019 and 2020.