Related Party Transactions

Transactions with WPP

As of March 31, 2019, WPP owned 11,319,363 shares of the Company's outstanding Common Stock, representing 18.9% ownership in the Company. The Company provides WPP, in the normal course of business, services amongst its different product lines and receives various services from WPP supporting the Company's data collection efforts.

The Company has a cancelable five-year agreement with Lightspeed, a WPP subsidiary, to conduct a proof of concept and follow-on program to demonstrate the capability of designing and deploying a program to collect browsing and demographic data for individual participating households. The agreement, which relates to the Company's Total Home Panel product, provides that the Company makes payments to Lightspeed of approximately $5 million per year.

The Company's results from transactions with WPP and its affiliates, as reflected in the Condensed Consolidated Statements of Operations and Comprehensive Loss, are detailed below:



	Three Months Ended March 31,
(In thousands)	2019		2018
Revenues ⁽¹⁾	$	3,845	$	2,091

Cost of revenues	2,095		2,490
Selling and marketing	3		43
Research and development	—		30
General and administrative	40		27

Interest income	—		219

⁽¹⁾ The Company entered into certain agreements with WPP and its affiliates that were not characterized as revenue arrangements under GAAP. Accordingly, despite cash being received by the Company under these agreements, no revenue was recognized during the three months ended March 31, 2018 other than imputed interest income on the net present value of anticipated future cash payments from WPP.

The Company has the following balances related to transactions with WPP and its affiliates, as reflected in the Condensed Consolidated Balance Sheets:



	As of		As of
(In thousands)	March 31, 2019		December 31, 2018
Assets
Accounts receivable, net	$	3,669	$	3,353
Prepaid expenses and other current assets	835		429
Other non-current assets	50		65
Liabilities
Accounts payable	$	2,187	$	1,833
Accrued expenses	1,325		1,384
Contract liability	2,894		1,945
Other non-current liabilities	219		251

Transactions with Starboard

On January 16, 2018, the Company entered into certain agreements with Starboard, then a beneficial owner of more than 5% of the Company’s outstanding Common Stock. Refer to Footnote 4, Long-term Debt, for further information regarding these agreements and subsequent amendments. As a result of these agreements and the transactions contemplated thereby, Starboard ceased to be a beneficial owner of more than 5% of the Company's outstanding common stock on January 16, 2018. The Company recorded interest expense of $6.7 million and $2.9 million during the three months ended March 31, 2019 and 2018, respectively, in the Condensed Consolidated Statement of Operations and Comprehensive Loss related to transactions with Starboard.

The Company has the following balances related to transactions with Starboard, as reflected in the Condensed Consolidated Balance Sheets:



	As of		As of
(In thousands)	March 31, 2019		December 31, 2018
Accrued expenses	$	—	$	3,046
Financing derivatives	22,000		26,100
Senior secured convertible notes	178,913		177,342
Other non-current liabilities	5,134		—