XML 37 R23.htm IDEA: XBRL DOCUMENT v3.24.3
Related Party Transactions
9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
The Company recognized revenue from NBCUniversal Media, LLC (“NBCU”), previously a holder of 5% or more of our Class A common stock, of $1.9 million for the three months ended September 30, 2023, and $0.6 million and $2.6 million for the nine months ended September 30, 2024 and 2023, respectively. The Company recognized expenses under contractual obligations from NBCU of $nil for the three months ended September 30, 2023, and $nil and $nil for the nine months ended September 30, 2024 and 2023, respectively. The Company had outstanding receivable balances of $0.2 million from NBCU as of December 31, 2023. The Company had an outstanding payable balance of $0.2 million to NBCU as of December 31, 2023. During the second quarter of 2024, NBCU ceased to be a holder of 5% or more of our Class A common stock, and as such, activity for the nine months ended September 30, 2024 only includes activity through the second quarter of 2024.
Verizon Ventures LLC (“Verizon”), collectively with its affiliates, is a holder of 5% or more of the Company’s Class A common stock. Verizon is the landlord for the Company’s corporate headquarters, and the Company transacts with Verizon in the normal course of business, such as with agency advertising deals and for certain utilities. The Company recognized revenue from Verizon of $1.2 million and $nil for the three months ended September 30, 2024 and 2023, respectively, and $1.8 million and $0.1 million for the nine months ended September 30, 2024 and 2023, respectively. The Company recognized expenses under contractual obligations from Verizon of $1.5 million and $1.5 million for the three months ended September 30, 2024 and 2023, respectively, and $4.4 million and $4.5 million nine months ended September 30, 2024 and 2023, respectively. The Company had an outstanding receivable balance from Verizon of $1.4 million as of September 30, 2024 (none as of December 31, 2023), and no outstanding payables to Verizon as of September 30, 2024 or December 31, 2023.