0001158172-25-000021 | 10-K | XBRL Viewer

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Property and Equipment - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 22,087	$ 19,778	$ 16,828
Amortization of right-of-use assets	$ 3,651	$ 1,929	$ 2,364
Geographic Concentration Risk \| Property and equipment, net \| United States
Property, Plant and Equipment [Line Items]
Concentration risk (as a percent)	99.00%	99.00%

Summary of Significant Accounting Policies - Schedule of Useful Lives of Finite Lived Intangible Assets (Details)	Dec. 31, 2024
Acquired methodologies and technology
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets useful life (in years)	5 years
Acquired software
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets useful life (in years)	2 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets useful life (in years)	11 years
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets useful life (in years)	16 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Summary of Significant Accounting Policies - Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ (614)	$ (798)	$ (1,173)
Bad debt expense	(396)	(236)	(312)
Recoveries	(62)	(99)	(126)
Write-offs	610	519	813
Ending balance	$ (462)	$ (614)	$ (798)

Revenue Recognition

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue Recognition

The Company has one reportable segment in accordance with ASC 280, Segment Reporting; as such, the disaggregation of revenue below reconciles directly to its unique reportable segment. The following table presents the Company's revenue disaggregated by solution group.


(In thousands)	Years Ended December 31,
By solution group:	2024		2023		2022
Content & Ad Measurement
Syndicated Audience	$	260,654	$	276,101	$	282,238
Cross-Platform	40,470		33,803		25,241
Total Content & Ad Measurement	301,124		309,904		307,479
Research & Insight Solutions	54,923		61,439		68,944
Total	$	356,047	$	371,343	$	376,423

The following table presents the Company's revenue disaggregated by geographical market and timing of transfer of products and services. The Company attributes revenue to geographical markets based on the location of the customer.


	Years Ended December 31,
(In thousands)	2024		2023		2022
By geographical market:
United States	$	318,364	$	335,785	$	337,862
Europe	21,264		18,738		19,007
Latin America	6,896		6,986		7,843
Canada	5,577		5,666		7,604
Other	3,946		4,168		4,107
Total	$	356,047	$	371,343	$	376,423
By timing of revenue recognition:
Products and services transferred over time	$	308,613	$	315,093	$	312,723
Products and services transferred at a point in time	47,434		56,250		63,700
Total	$	356,047	$	371,343	$	376,423

Contract Balances

The following table provides information about receivables, contract assets, contract liabilities and customer advances from contracts with customers:


	As of December 31,
(In thousands)	2024		2023
Accounts receivable, net	$	64,266	$	63,826
Current and non-current contract assets	3,788		8,833
Current contract liabilities	45,464		48,912
Current customer advances	9,566		11,076
Non-current contract liabilities	688		605

Current and non-current contract assets as of December 31, 2024 decreased from the prior year primarily due to increased contract billings ahead of revenue recognition for license fees in connection with multi-year agreements.

Significant changes in the current contract liabilities balances are as follows:



	Years Ended December 31,
(In thousands)	2024		2023
Revenue recognized that was included in the opening contract liabilities balance	$	(48,438)	$	(49,470)
Cash received or amounts billed in advance and not recognized as revenue	41,488		44,349

Remaining Performance Obligations

As of December 31, 2024, approximately $240 million of revenue is expected to be recognized from remaining performance obligations that are unsatisfied (or partially unsatisfied) for non-cancelable contracts with an original expected duration of longer than one year. The Company expects to recognize revenue on approximately 53% of these remaining performance obligations in 2025, and approximately 30% in 2026, with the remainder recognized thereafter.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 29,937	$ 22,750
Restricted cash	3,531	186
Accounts receivable, net of allowances of $462 and $614, respectively ($913 and $786 of accounts receivable attributable to related parties, respectively)	64,266	63,826
Prepaid expenses and other current assets	10,323	11,228
Total current assets	108,057	97,990
Property and equipment, net	47,116	41,574
Operating right-of-use assets	13,173	18,628
Deferred tax assets	2,624	2,588
Intangible assets, net	5,058	8,115
Goodwill	246,010	310,360
Other non-current assets	8,209	12,040
Total assets	430,247	491,295
Current liabilities:
Accounts payable ($2,070 and $11,996 attributable to related parties, respectively)	16,471	30,551
Accrued expenses ($8,588 and $3,781 attributable to related parties, respectively)	35,013	34,422
Contract liabilities ($714 and $1,784 attributable to related parties, respectively)	45,464	48,912
Revolving line of credit	0	16,000
Accrued dividends (related parties)	8,962	24,132
Customer advances	9,566	11,076
Current operating lease liabilities	8,598	7,982
Other current liabilities	7,230	9,486
Total current liabilities	131,304	182,561
Secured term loan	40,718	0
Non-current operating lease liabilities	14,805	23,003
Non-current portion of accrued data costs ($22,031 and $21,908 attributable to related parties, respectively)	33,551	32,833
Deferred tax liabilities	891	1,321
Other non-current liabilities	9,771	7,589
Total liabilities	231,040	247,307
Commitments and contingencies
Convertible redeemable preferred stock, $0.001 par value; $100,000,000 shares authorized as of December 31, 2024 and December 31, 2023; 95,784,903 shares and 82,527,609 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively; aggregate liquidation preference of $245,732 as of December 31, 2024 and $228,132 as of December 31, 2023 (related parties)	207,470	187,885
Stockholders' equity (deficit):
Preferred stock, $0.001 par value; 5,000,000 shares authorized as of December 31, 2024 and December 31, 2023; no shares issued or outstanding as of December 31, 2024 or 2023	0	0
Common stock, $0.001 par value; 13,750,000 shares authorized as of December 31, 2024 and 2023; 5,228,814 shares issued and 4,890,575 shares outstanding as of December 31, 2024, and 5,093,380 shares issued and 4,755,141 shares outstanding as of December 31, 2023	5	5
Additional paid-in capital	1,714,052	1,696,612
Accumulated other comprehensive loss	(18,068)	(14,110)
Accumulated deficit	(1,474,268)	(1,396,420)
Treasury stock, at cost, 338,239 shares as of December 31, 2024 and 2023	(229,984)	(229,984)
Total stockholders' equity (deficit)	(8,263)	56,103
Total liabilities, convertible redeemable preferred stock and stockholders' equity (deficit)	$ 430,247	$ 491,295

CONSOLIDATED STATEMENT OF CHANGES IN CONVERTIBLE REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)
$ in Thousands

Total

Common Stock

Additional Paid-in Capital

^[1]

Accumulated Other Comprehensive Loss

Accumulated Deficit

Treasury Stock, At Cost

Beginning balance (in shares) at Dec. 31, 2021

82,527,609

Beginning balance at Dec. 31, 2021

$ 187,885

Ending balance (in shares) at Dec. 31, 2022

82,527,609

Ending balance at Dec. 31, 2022

$ 187,885

Beginning balance (in shares) at Dec. 31, 2021

^[1]

4,520,364

Beginning balance at Dec. 31, 2021

223,177

$ 5

^[1]

$ 1,683,969

$ (12,098)

$ (1,218,715)

$ (229,984)

Increase (Decrease) in Stockholders' Equity

Net Loss

(66,561)

Convertible redeemable preferred stock dividends

^[2]

(15,513)

Foreign currency translation adjustment

$ (3,842)

(3,842)

Exercise of Common Stock options, net (in shares)

4,848

^[1]

Exercise of Common Stock options, net

$ 103

103

Restricted stock units distributed (in shares)

^[1]

74,656

Restricted stock units distributed

1,718

Payments for taxes related to net share settlement of equity awards (in shares)

^[1]

(656)

Payments for taxes related to net share settlement of equity awards

(23)

Amortization of stock-based compensation

5,106

Other (in shares)

^[1]

(6,035)

Other

(3)

Ending balance (in shares) at Dec. 31, 2022

^[1]

4,605,247

Ending balance at Dec. 31, 2022

$ 144,162

$ 5

^[1]

1,690,870

(15,940)

(1,300,789)

(229,984)

Ending balance (in shares) at Dec. 31, 2023

82,527,609

Ending balance at Dec. 31, 2023

$ 187,885

Increase (Decrease) in Stockholders' Equity

Net Loss

(79,361)

Convertible redeemable preferred stock dividends

^[2]

(16,270)

Foreign currency translation adjustment

$ 1,830

1,830

Exercise of Common Stock options, net (in shares)

150

^[1]

Exercise of Common Stock options, net

$ 3

Restricted stock units distributed (in shares)

^[1]

152,375

Restricted stock units distributed

Payments for taxes related to net share settlement of equity awards (in shares)

^[1]

(2,631)

Payments for taxes related to net share settlement of equity awards

(65)

Settlement of restricted stock unit liability

2,761

Amortization of stock-based compensation

$ 3,040

3,040

Ending balance (in shares) at Dec. 31, 2023

4,755,141

^[1]

Ending balance at Dec. 31, 2023

$ 56,103

$ 5

^[1]

1,696,612

(14,110)

(1,396,420)

(229,984)

Convertible Redeemable Preferred Stock

Convertible redeemable preferred stock, net of issuance costs (in shares)

^[2]

13,257,294

Convertible redeemable preferred stock, net of issuance costs

^[2]

$ 19,585

Ending balance (in shares) at Dec. 31, 2024

95,784,903

Ending balance at Dec. 31, 2024

$ 207,470

Increase (Decrease) in Stockholders' Equity

Net Loss

(60,248)

Convertible redeemable preferred stock, net of issuance costs

^[2]

13,017

Convertible redeemable preferred stock dividends

^[2]

(17,600)

Foreign currency translation adjustment

$ (3,958)

(3,958)

Exercise of Common Stock options, net (in shares)

^[1]

Restricted stock units distributed (in shares)

^[1]

140,901

Payments for taxes related to net share settlement of equity awards (in shares)

^[1]

(5,461)

Payments for taxes related to net share settlement of equity awards

$ (81)

(81)

Settlement of restricted stock unit liability

1,895

Amortization of stock-based compensation

$ 2,609

2,609

Other (in shares)

^[1]

(39)

Ending balance (in shares) at Dec. 31, 2024

4,890,575

^[1]

Ending balance at Dec. 31, 2024

$ (8,263)

$ 5

^[1]

$ 1,714,052

$ (18,068)

$ (1,474,268)

$ (229,984)

[1]	Adjusted retroactively for the Reverse Stock Split, refer to Footnote 2, Summary of Significant Accounting Policies.
[2]	Transactions for these line items were exclusively with related parties (refer to Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit), and Footnote 13, Related Party Transactions, of the Notes to Consolidated Financial Statements for additional information).

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue


(In thousands)	Years Ended December 31,
By solution group:	2024		2023		2022
Content & Ad Measurement
Syndicated Audience	$	260,654	$	276,101	$	282,238
Cross-Platform	40,470		33,803		25,241
Total Content & Ad Measurement	301,124		309,904		307,479
Research & Insight Solutions	54,923		61,439		68,944
Total	$	356,047	$	371,343	$	376,423


	Years Ended December 31,
(In thousands)	2024		2023		2022
By geographical market:
United States	$	318,364	$	335,785	$	337,862
Europe	21,264		18,738		19,007
Latin America	6,896		6,986		7,843
Canada	5,577		5,666		7,604
Other	3,946		4,168		4,107
Total	$	356,047	$	371,343	$	376,423
By timing of revenue recognition:
Products and services transferred over time	$	308,613	$	315,093	$	312,723
Products and services transferred at a point in time	47,434		56,250		63,700
Total	$	356,047	$	371,343	$	376,423

Significant changes in the current contract liabilities balances are as follows:



	Years Ended December 31,
(In thousands)	2024		2023
Revenue recognized that was included in the opening contract liabilities balance	$	(48,438)	$	(49,470)
Cash received or amounts billed in advance and not recognized as revenue	41,488		44,349

Schedule of Contract Balances

The following table provides information about receivables, contract assets, contract liabilities and customer advances from contracts with customers:


	As of December 31,
(In thousands)	2024		2023
Accounts receivable, net	$	64,266	$	63,826
Current and non-current contract assets	3,788		8,833
Current contract liabilities	45,464		48,912
Current customer advances	9,566		11,076
Non-current contract liabilities	688		605

Goodwill and Intangible Assets - Schedule of Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Sep. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill
Beginning balance					$ 310,360	$ 387,973
Impairment charge	$ (63,000)	$ (34,100)	$ (44,100)	$ (46,300)	(63,000)	(78,200)	$ (46,300)
Translation adjustments					(1,350)	587
Ending balance		$ 310,360			$ 246,010	$ 310,360	387,973
Goodwill accumulated impairment							$ 270,600

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Accrued Expenses

12 Months Ended

Dec. 31, 2024

Other Liabilities Disclosure [Abstract]

Accrued Expenses


	As of December 31,
(In thousands)	2024		2023
Accrued data costs	$	20,835	$	15,529
Payroll and payroll-related	8,566		10,604
Professional fees	2,360		2,203
Restructuring accrual	342		1,630
Other	2,910		4,456
Total accrued expenses	$	35,013	$	34,422

Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit) - Schedule of Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Shares
Options outstanding, beginning balance (in shares)	108,663	114,199	89,152
Options granted (in shares)	0	0	47,400
Options exercised (in shares)	(33)	(150)	(4,848)
Options forfeited (in shares)	(887)	(760)	(3,114)
Options expired (in shares)	(8,274)	(4,626)	(14,391)
Options outstanding, ending balance (in shares)	99,469	108,663	114,199
Options exercisable (in shares)	75,269
Weighted-Average Exercise Price
Options outstanding, beginning balance (in dollars per share)	$ 46.56	$ 48.40	$ 89.00
Options granted (in dollars per share)			50.00
Options exercised (in dollars per share)	18.20	18.20	27.00
Options forfeited (in dollars per share)	22.53	26.64	146.60
Options expired (in dollars per share)	102.19	96.42	291.40
Options outstanding, ending balance (in dollars per share)	42.15	$ 46.56	$ 48.40
Options exercisable (in dollars per share)	$ 39.83

Income Taxes - Schedule of Components of Net Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss carryforwards	$ 176,369	$ 191,657
Lease liability	7,797	11,068
Deferred revenues	17,184	18,386
Deferred compensation	5,165	5,135
Accrued salaries and benefits	451	857
Tax credits	2,480	2,282
Tax contingencies	816	797
Allowance for doubtful accounts	103	112
Capital loss carryforwards	108	108
Property and equipment	4,735	0
Intangible assets	3,608	3,970
Capitalized research and development expense	34,815	25,693
Other	2,523	2,587
Gross deferred tax assets	256,154	262,652
Valuation allowance	(247,772)	(251,253)	$ (250,994)
Net deferred tax assets	8,382	11,399
Deferred tax liabilities:
Lease asset	(3,964)	(5,583)
Property and equipment	0	(824)
Subpart F income recapture	(1,411)	(1,384)
Goodwill	(1,274)	(2,341)
Total deferred tax liabilities	(6,649)	(10,132)
Net deferred tax asset	$ 1,733	$ 1,267

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Allowance for Doubtful Accounts

The following is a summary of the activity within the allowance for doubtful accounts:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Beginning balance	$	(614)	$	(798)	$	(1,173)
Bad debt expense	(396)		(236)		(312)
Recoveries	(62)		(99)		(126)
Write-offs	610		519		813
Ending balance	$	(462)	$	(614)	$	(798)

Schedule of Intangible Assets with Finite Lives

Intangible assets with finite lives are generally amortized using the straight-line method over the following useful lives:


			Useful Lives (Years)
Acquired methodologies and technology			5
Acquired software			2
Customer relationships			11
Intellectual property			16

Schedule of Other Income (Expense), Net

The following is a summary of the significant components of other income, net:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Change in fair value of warrants liability	$	669	$	49	$	9,802
Other	(18)		(7)		(17)
Total other income, net	$	651	$	42	$	9,785

Schedule of Common Stock Equivalents for Securities Outstanding Excluded from Computation of Diluted Net Loss per Share

The following is a summary of the Common Stock equivalents for the securities outstanding during the respective periods that have been excluded from the computation of diluted net loss per common share, as their effect would be anti-dilutive:


	Years Ended December 31,
	2024	2023	2022
Preferred Stock (1)	4,699,620	4,285,418	4,285,418
Warrants	132,698	272,851	272,851
Stock options and restricted stock units	295,249	294,388	249,081
Contingent consideration (2)	—	71,377	211,034
Total	5,127,567	4,924,034	5,018,384

(1) Includes the effect of potential Common Stock that would be issued to settle unpaid dividends accrued to holders of the Preferred Stock if they elected to convert their shares at the beginning of the period (or at the time of issuance, if later).

(2) A contingent consideration liability was recognized as part of the Company's 2021 Shareablee acquisition. The liability payments could have been settled in any combination of cash or shares of Common Stock based on the volume-weighted average trading price of the Common Stock for the 10 trading days prior to the date of each payment. As of December 31, 2024, there are no contingently issuable shares as the Company elected to settle the third and last installment of $1.2 million in cash. The Company calculated a potential anti-dilutive share count based on the maximum contingent consideration as of December 31, 2023 of $1.2 million and the $16.70 per share closing price of the Company's Common Stock on the Nasdaq Global Select Market on December 29, 2023. The Company calculated a potential anti-dilutive share count based on the maximum contingent consideration as of December 31, 2022 of $4.9 million and the $23.20 per share closing price of the Company's Common Stock on the Nasdaq Global Select Market on December 30, 2022.

Commitment and Contingencies - Schedule of Contractual Obligation (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 40,285
2026	40,266
2027	26,135
2028	15,903
2029	14,115
Thereafter	14,163
Total	$ 150,867

Goodwill and Intangible Assets - Schedule of Weighted Average Remaining Amortization Period (Details)	12 Months Ended
	Dec. 31, 2024
Acquired methodologies and technology
Intangible Assets [Line Items]
Weighted average remaining amortization period (in years)	2 years
Customer relationships
Intangible Assets [Line Items]
Weighted average remaining amortization period (in years)	2 years

Summary of Significant Accounting Policies - Schedule of Other Income (Expense), Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Change in fair value of warrants liability	$ 669	$ 49	$ 9,802
Other	(18)	(7)	(17)
Total other income, net	$ 651	$ 42	$ 9,785

Leases - Schedule of Finance and Operating Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Finance lease cost
Amortization of right-of-use assets	$ 3,651	$ 1,929	$ 2,364
Interest on lease liabilities	712	244	338
Total finance lease cost	4,363	2,173	2,702
Operating lease cost
Fixed lease cost	8,248	9,231	11,174
Short-term lease cost	73	86	150
Variable lease cost	987	1,077	1,369
Sublease income	(1,647)	(2,001)	(2,572)
Total operating lease cost	7,661	8,393	10,121
Cost of revenues
Finance lease cost
Amortization of right-of-use assets	3,411	574	1,747
Operating lease cost
Total operating lease cost	2,643	2,497	3,030
Selling and marketing
Finance lease cost
Amortization of right-of-use assets	98	629	263
Operating lease cost
Total operating lease cost	2,192	2,738	3,391
Research and development
Finance lease cost
Amortization of right-of-use assets	90	470	216
Operating lease cost
Total operating lease cost	1,787	2,044	2,382
General and administrative
Finance lease cost
Amortization of right-of-use assets	52	256	138
Operating lease cost
Total operating lease cost	$ 1,039	$ 1,114	$ 1,318

Debt - Schedule of Future Principal Payments for the Total Long-Term Debt (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 450
2026	2,250
2027	2,250
2028	40,050
Total	$ 45,000

Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit) - Narrative (Details)
$ / shares in Units, $ in Thousands

12 Months Ended

Jul. 24, 2024

USD ($)

$ / shares

Jul. 23, 2024

USD ($)

Jun. 27, 2024

Dec. 26, 2023

Jun. 15, 2023

May 16, 2023

Jun. 30, 2022

USD ($)

Mar. 10, 2021

USD ($)

$ / shares

Oct. 14, 2019

Jun. 23, 2019

USD ($)

$ / shares

Dec. 31, 2024

USD ($)

$ / shares

Dec. 31, 2023

USD ($)

$ / shares

Dec. 31, 2022

USD ($)

Dec. 20, 2023

Dec. 19, 2023

Jan. 31, 2021

$ / shares

Jun. 26, 2019

Dec. 31, 2018

Share-based Compensation Arrangement by Share-based Payment Award

Convertible redeemable preferred stock, par value (in dollars per share) | $ / shares

$ 0.001

Net proceeds | $

^[1]

$ 19,585

Temporary equity, deferred dividend rate, percentage

0.095

Convertible redeemable preferred stock, net of issuance costs (in shares)

13,257,294

^[1]

Dividends payable | $

$ 32,800

$ 9,000

$ 24,100

Preferred stock, convertible, shares issuable (in shares)

662,862

Preferred stock, convertible, conversion price (in USD per share) | $ / shares

$ 49.438

Dividend rate (percent)

7.50%

Preferred stock, special dividend threshold | $

$ 47,000

$ 100,000

$ 47,000

Liquidation preference | $

$ 32,800

Temporary equity, initial fair value net of issuance costs | $

19,600

Convertible redeemable preferred stock, net of issuance costs | $

^[1]

$ 13,017

Voting class, conversion ratio

0.98091271

Cap of common stock voting class (as a percent)

16.66%

Preferred stock cumulative dividend rate (percent)

9.50%

Convertible redeemable preferred stock dividends | $

$ 15,500

$ 17,600

^[2]

$ 16,270

^[2]

$ 15,513

^[2]

Conversion ratio (in shares)

0.051892

Accumulated dividends paid | $

$ 20,300

Mandatory conversion, percentage of common stock original purchase price

140.00%

Mandatory conversion, pro rata share of aggregate dividends paid | $

$ 100,000

Mandatory conversion period (in years)

5 years

Shares converted (in shares)

Common Stock warrants exercised (in shares)

136,425

Price of warrants (in dollars per share) | $ / shares

$ 15.83

Number of shares authorized (in shares)

118,750,000

380,000,000

Options granted (in shares)

47,400

Aggregate intrinsic value of options exercised | $

$ 0

$ 100

Aggregate intrinsic value of options exercisable | $

100

Aggregate intrinsic value of options outstanding | $

$ 0

$ 100

Total unrecognized compensation expense related to stock options | $

$ 400

Weighted-average period expected to recognize compensation expense (in years)

1 year 6 months

Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award

Awards granted (in shares)

229,795

234,171

117,929

Vested and delivered stock awards shares (in shares)

140,901

152,422

74,656

Restricted Stock and Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award

Weighted-average period expected to recognize compensation expense (in years)

2 years 6 months

Aggregate intrinsic value for non-vested shares | $

$ 2,200

$ 5,200

$ 5,400

Total unrecognized compensation expense | $

$ 1,400

2018 Plan | Pending equity awards

Share-based Compensation Arrangement by Share-based Payment Award

Number of shares authorized (in shares)

2,792,500

Ratio of reduction of authorized shares per every common stock subject to awards of option rights (in shares)

Ratio of reduction of authorized shares per every common stock subject to awards other than option rights (in shares)

Ratio of availability of number of authorized shares of common stock subject to awards of options rights (in shares)

Ratio of availability of number of authorized shares of common stock subject to awards other than options rights (in shares)

2018 Plan | Pending equity awards | Maximum

Share-based Compensation Arrangement by Share-based Payment Award

Number of shares available for grant (in shares)

837,438

2018 Plan | Time-Based Restricted Stock Units | Employees, Directors and Certain Consultants

Share-based Compensation Arrangement by Share-based Payment Award

Awards granted (in shares)

229,795

234,171

86,929

Vested and delivered stock awards shares (in shares)

119,720

136,525

33,965

2018 Plan | Market-based Restricted Stock Units | Employees, Directors and Certain Consultants

Share-based Compensation Arrangement by Share-based Payment Award

Awards granted (in shares)

Vesting period of equity awards (in years)

10 years

2018 Plan | Performance-Based Restricted Stock Units | Employees, Directors and Certain Consultants

Share-based Compensation Arrangement by Share-based Payment Award

Awards granted (in shares)

31,000

Series A Warrants

Share-based Compensation Arrangement by Share-based Payment Award

Number of shares callable by warrants (in shares)

136,425

Private Placement

Share-based Compensation Arrangement by Share-based Payment Award

Number of shares issued in transaction (in shares)

136,425

Gross proceeds from sale | $

$ 20,000

Conversion ratio (in shares)

0.05

Sale price per share (in dollars per share) | $ / shares

$ 146.60

Private Placement | Series A Warrants

Share-based Compensation Arrangement by Share-based Payment Award

Number of shares callable by warrants (in shares)

272,851

Exercisable period (in years)

5 years

Charter | Preferred Stock | Private Placement

Share-based Compensation Arrangement by Share-based Payment Award

Number of shares issued in transaction (in shares)

27,509,203

Gross proceeds from sale | $

$ 68,000

Net proceeds | $

$ 187,900

Qurate | Preferred Stock | Private Placement

Share-based Compensation Arrangement by Share-based Payment Award

Number of shares issued in transaction (in shares)

27,509,203

Gross proceeds from sale | $

$ 68,000

Pine | Preferred Stock | Private Placement

Share-based Compensation Arrangement by Share-based Payment Award

Number of shares issued in transaction (in shares)

27,509,203

Gross proceeds from sale | $

$ 68,000

Liberty | Qurate | Preferred Stock

Share-based Compensation Arrangement by Share-based Payment Award

Number of shares issued in transaction (in shares)

27,509,203

[1]

Transactions for these line items were exclusively with related parties (refer to Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit), and Footnote 13, Related Party Transactions, of the Notes to Consolidated Financial Statements for additional information).

[2]

Transactions with related parties are included in the line items above as follows (refer to Footnote 13, Related Party Transactions, for further information):


	Years Ended December 31,
	2024		2023		2022
Revenues	$	10,217	$	11,420	$	14,934
Cost of revenues	30,450		29,265		26,971
Convertible redeemable preferred stock dividends	(17,600)		(16,270)		(15,513)

Debt - Narrative (Details)							12 Months Ended
Debt - Narrative (Details)	Dec. 31, 2024 USD ($)	Nov. 01, 2024 USD ($)	May 03, 2024 USD ($)	Feb. 24, 2023	Feb. 25, 2022 USD ($)	May 05, 2021 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 02, 2024 USD ($)	Feb. 24, 2022 USD ($)
Schedule of Capitalization, Long-term Debt
Secured term loan	$ 45,000,000						$ 45,000,000
Payments of line of credit							16,000,000	$ 0	$ 0
Revolving credit facility
Schedule of Capitalization, Long-term Debt
Payments of line of credit		$ 10,000,000.0
Letters of credit outstanding		3,200,000
Amendment fee		$ 250,000
Revolving credit facility \| Line of credit
Schedule of Capitalization, Long-term Debt
Maximum borrowing capacity			$ 25,000,000.0		$ 40,000,000.0	$ 25,000,000.0				$ 40,000,000.0	$ 25,000,000.0
Variable rate				3.50%	2.50%
Maturity period (in years)						3 years
Required principal repayment			$ 6,000,000.0
Commitment fee percentage			2.00%
Revolving credit facility \| Line of credit \| Variable Rate Component One
Schedule of Capitalization, Long-term Debt
Variable rate			4.50%
Letter of credit \| Line of credit
Schedule of Capitalization, Long-term Debt
Maximum borrowing capacity						$ 5,000,000.0
Credit Agreement \| Secured debt
Schedule of Capitalization, Long-term Debt
Secured term loan	$ 60,000,000.0						60,000,000.0
Debt term	4 years
Variable rate	2.00%
Minimum liquidity	$ 10,000,000						$ 10,000,000
Effective interest rate	14.54%						14.54%
Credit Agreement \| Secured debt \| Debt Instrument If Total Leverage Ratio Is Greater Than 2.25
Schedule of Capitalization, Long-term Debt
Threshold total leverage ratio, minimum							2.25
Excess cash flow if required threshold leverage ratio is maintained							75.00%
Credit Agreement \| Secured debt \| Debt Instrument If Total Leverage Ratio Is Equal To Or Less Than 2.25 And Greater Than 1.75
Schedule of Capitalization, Long-term Debt
Threshold total leverage ratio, maximum							2.25
Threshold total leverage ratio, minimum							1.75
Excess cash flow if required threshold leverage ratio is maintained							50.00%
Credit Agreement \| Secured debt \| Debt Instrument If Total Leverage Ratio Is Equal To Or Less Than 1.75 And Greater Than 1.25
Schedule of Capitalization, Long-term Debt
Threshold total leverage ratio, maximum							1.75
Threshold total leverage ratio, minimum							1.25
Excess cash flow if required threshold leverage ratio is maintained							25.00%
Credit Agreement \| Secured debt \| Debt Instrument If Total Leverage Ratio Is Greater Than 1.25
Schedule of Capitalization, Long-term Debt
Threshold total leverage ratio, maximum							1.25
Excess cash flow if required threshold leverage ratio is maintained							0.00%
Credit Agreement \| Secured debt \| Before First Anniversary
Schedule of Capitalization, Long-term Debt
Credit facility, prepayment premium percentage	3.00%
Credit Agreement \| Secured debt \| Before Second Anniversary
Schedule of Capitalization, Long-term Debt
Credit facility, prepayment premium percentage	1.00%
Credit Agreement \| Secured debt \| SOFR
Schedule of Capitalization, Long-term Debt
Floor on variable rate	3.00%
Variable rate	7.00%
Credit Agreement \| Secured debt \| Reference Rate
Schedule of Capitalization, Long-term Debt
Floor on variable rate	4.00%
Variable rate	6.00%
Credit Agreement \| Revolving credit facility \| Line of credit
Schedule of Capitalization, Long-term Debt
Maximum borrowing capacity	$ 15,000,000.0						$ 15,000,000.0
Unused capacity commitment fee percentage	1.00%
Borrowings outstanding	$ 0						0
Remaining borrowing capacity	15,000,000.0						15,000,000.0
Term Loan \| Secured debt
Schedule of Capitalization, Long-term Debt
Face value of note	$ 45,000,000.0						$ 45,000,000.0
Debt instrument, interest rate	11.59%						11.59%

Organization	12 Months Ended
Organization	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization comScore, Inc., together with its consolidated subsidiaries (collectively, "Comscore" or the "Company"), headquartered in Reston, Virginia, is a global information and analytics company that measures advertising, content, and the consumer audiences of each, across media platforms.

Fair Value Measurements - Schedule of Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Liabilities
Contingent consideration liability		$ 1,200	$ 4,900
Recurring
Liabilities
Contingent consideration liability	$ 1,191	4,806
Total	1,191	5,475
Recurring \| Series A Warrants
Liabilities
Warrants liability	0	669
Level 1 \| Recurring
Liabilities
Contingent consideration liability	0	0
Total	0	0
Level 1 \| Recurring \| Series A Warrants
Liabilities
Warrants liability	0	0
Level 2 \| Recurring
Liabilities
Contingent consideration liability	1,191	4,806
Total	1,191	4,806
Level 2 \| Recurring \| Series A Warrants
Liabilities
Warrants liability	0	0
Level 3 \| Recurring
Liabilities
Contingent consideration liability	0	0
Total	0	669
Level 3 \| Recurring \| Series A Warrants
Liabilities
Warrants liability	$ 0	$ 669

Commitments and Contingencies

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments

The Company has certain long-term contractual arrangements that have fixed and determinable payment obligations including unconditional purchase obligations with MVPDs and other providers for set-top box and connected (Smart) television data. These agreements have remaining terms from less than one year to six years. As of December 31, 2024, the total fixed payment obligations related to set-top box and connected television data agreements are $125.5 million and $25.4 million, respectively.

The information set forth below summarizes the contractual obligations, by year, as of December 31, 2024:


	(In thousands)
2025	$	40,285
2026	40,266
2027	26,135
2028	15,903
2029	14,115
Thereafter	14,163
Total	$	150,867

In addition, the Company expects to make variable payments related to a set-top box data agreement totaling an estimated $108.8 million over the next seven years.

Contingencies

The Company is involved in various legal proceedings from time to time. The Company establishes reserves for specific legal proceedings when management determines that the likelihood of an unfavorable outcome is probable, and the amount of loss can be reasonably estimated. The Company has also identified certain other legal matters where an unfavorable outcome is reasonably possible and/or for which no estimate of possible losses can be made. In these cases, the Company does not establish a reserve until it can reasonably estimate the loss. Legal fees related to contingencies are expensed as incurred. The outcomes of legal proceedings are inherently unpredictable, subject to significant uncertainties, and could be material to the Company's operating results and cash flows for a particular period.

State Sales Tax Audit

In January 2025, the Company received an initial audit assessment from the State of Washington Department of Revenue related to an audit of potential sales tax liabilities in Washington for fiscal years 2020 through 2023. The aggregate assessment calculated by the Department of Revenue, including alleged penalties and interest, was approximately $8.0 million. The Company has petitioned for review of the audit assessment and believes it has a strong position that its activities are not taxable under the applicable terms of Washington law. As of December 31, 2024, the Company cannot reasonably estimate the outcome of the review and the potential liability, if any, that may be incurred in this matter.

Other Matters

The Company is, and may become, a party to a variety of legal proceedings from time to time that arise in the normal course of the Company's business. While the results of such legal proceedings cannot be predicted with certainty, management believes that, based on current knowledge, the final outcome of any such current pending matters will not have a material adverse effect on the Company's financial position, results of operations or cash flows. Regardless of the outcome, legal proceedings can have an adverse effect on the Company because of defense costs, diversion of management resources and other factors.

Indemnification

The Company has entered into indemnification agreements with each of the Company's directors and certain officers, and the Company's amended and restated certificate of incorporation requires it to indemnify each of its directors and officers, to the fullest extent permitted by Delaware law, who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding by reason of the fact that he or she is or was a director or officer of the Company. The Company has paid and may in the future pay legal counsel fees incurred by current and former directors and officers who are involved in legal proceedings that require indemnification.

Similarly, certain of the Company's commercial contracts require it to indemnify contract counterparties under specified circumstances, and the Company may incur legal counsel fees and other costs in connection with these obligations.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Parenthetical) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Revenues

^[1]

$ 356,047

$ 371,343

$ 376,423

Cost of revenues

^[1],[2],[3]

208,708

205,580

205,294

Convertible redeemable preferred stock dividends

^[1]

(17,600)

(16,270)

(15,513)

Stock-based compensation expense

3,191

4,535

8,178

Cost of revenues

Stock-based compensation expense

221

533

1,144

Selling and marketing

Stock-based compensation expense

126

380

1,021

Research and development

Stock-based compensation expense

161

411

827

General and administrative

Stock-based compensation expense

2,683

3,211

5,186

Related Party

Revenues

10,217

11,420

14,934

Convertible redeemable preferred stock dividends

(17,600)

(16,270)

(15,513)

Related Party | Cost of revenues

Cost of revenues

$ 30,450

$ 29,265

$ 26,971

[1]

Transactions with related parties are included in the line items above as follows (refer to Footnote 13, Related Party Transactions, for further information):


	Years Ended December 31,
	2024		2023		2022
Revenues	$	10,217	$	11,420	$	14,934
Cost of revenues	30,450		29,265		26,971
Convertible redeemable preferred stock dividends	(17,600)		(16,270)		(15,513)

[2]

Excludes amortization of intangible assets, which is presented separately in the Consolidated Statements of Operations and Comprehensive Loss.

[3]

Stock-based compensation expense is included in the line items above as follows:


	Years Ended December 31,
	2024		2023		2022
Cost of revenues	$	221	$	533	$	1,144
Selling and marketing	126		380		1,021
Research and development	161		411		827
General and administrative	2,683		3,211		5,186
Total stock-based compensation expense	$	3,191	$	4,535	$	8,178

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Income Taxes - Schedule of Component of (Loss) Income Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ (61,420)	$ (79,078)	$ (69,981)
Foreign	2,096	1,250	5,144
Loss before income taxes	$ (59,324)	$ (77,828)	$ (64,837)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Organizational Restructuring

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Organizational Restructuring

On September 29, 2022, the Company communicated a workforce reduction as part of its broader efforts to improve cost efficiency and better align its operating structure and resources with strategic priorities (collectively, the "Restructuring Plan"). In addition to employee terminations, the Restructuring Plan included the reallocation of commercial and product development resources; reinvestment in and modernization of key technology platforms; consolidation of data storage and processing activities to reduce the Company's data center footprint; and reduction of other operating expenses, including software and facility costs. In connection with the Restructuring Plan, which was authorized by the Board on September 19, 2022, the Company incurred certain exit-related costs. The Restructuring Plan was substantially completed in 2024.

The following table summarizes costs incurred related to the Restructuring Plan for the years ended December 31, 2024, 2023, and 2022.


	Years Ended December 31,
(In thousands)	2024		2023		2022
Severance and related costs	$	788	$	5,464	$	4,578
Other	239		770		1,232
Total restructuring	$	1,027	$	6,234	$	5,810

The table below summarizes the changes in the accrued amounts for the years ended December 31, 2024 and 2023 and the balance of the restructuring liability as of December 31, 2024 and 2023, which is recorded in accrued expenses in the Consolidated Balance Sheets:


(In thousands)	Severance and Related Costs		Other		Total Restructuring Expense
Restructuring expense	$	5,464	$	770	$	6,234
Payments	(5,140)		(664)		(5,804)
Foreign exchange	(88)		—		(88)
Accrued balance as of December 31, 2023	$	1,524	$	106	$	1,630
Restructuring expense	788		239		1,027
Payments	(2,316)		(151)		(2,467)
Other	323		(171)		152
Accrued balance as of December 31, 2024	$	319	$	23	$	342

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Income Statement [Abstract]

Revenues

^[1]

$ 356,047

$ 371,343

$ 376,423

Cost of revenues

^[1],[2],[3]

208,708

205,580

205,294

Selling and marketing

^[2],[3]

57,622

63,322

68,453

Research and development

^[2],[3]

33,066

33,701

36,987

General and administrative

^[2],[3]

47,679

51,192

61,200

Amortization of intangible assets

3,057

5,213

27,096

Impairment of goodwill

63,000

78,200

46,300

Impairment of right-of-use and long-lived assets

1,397

1,502

156

Restructuring

1,027

6,234

5,810

Total expenses from operations

415,556

444,944

451,296

Loss from operations

(59,509)

(73,601)

(74,873)

Interest expense, net

(1,883)

(1,445)

(915)

Other income, net

651

9,785

Gain (loss) from foreign currency transactions

1,417

(2,824)

1,166

Loss before income taxes

(59,324)

(77,828)

(64,837)

Income tax provision

(924)

(1,533)

(1,724)

Net loss

(60,248)

(79,361)

(66,561)

Net loss available to common stockholders:

Net loss

(60,248)

(79,361)

(66,561)

Convertible redeemable preferred stock dividends

^[1]

(17,600)

(16,270)

(15,513)

Total net loss available to common stockholders

$ (77,848)

$ (95,631)

$ (82,074)

Net loss per common share :

Basic (in shares)

^[4]

$ (15.53)

$ (19.88)

$ (17.71)

Diluted (in shares)

^[4]

$ (15.53)

$ (19.88)

$ (17.71)

Weighted-average number of shares used in per share calculation - Common Stock :

Basic (in shares)

^[4]

5,014,049

4,811,233

4,634,178

Diluted (in shares)

^[4]

5,014,049

4,811,233

4,634,178

Comprehensive loss:

Net loss

$ (60,248)

$ (79,361)

$ (66,561)

Other comprehensive loss:

Foreign currency cumulative translation adjustment

(3,958)

1,830

(3,842)

Total comprehensive loss

$ (64,206)

$ (77,531)

$ (70,403)

[1]

Transactions with related parties are included in the line items above as follows (refer to Footnote 13, Related Party Transactions, for further information):


	Years Ended December 31,
	2024		2023		2022
Revenues	$	10,217	$	11,420	$	14,934
Cost of revenues	30,450		29,265		26,971
Convertible redeemable preferred stock dividends	(17,600)		(16,270)		(15,513)

[2]

Excludes amortization of intangible assets, which is presented separately in the Consolidated Statements of Operations and Comprehensive Loss.

[3]

Stock-based compensation expense is included in the line items above as follows:


	Years Ended December 31,
	2024		2023		2022
Cost of revenues	$	221	$	533	$	1,144
Selling and marketing	126		380		1,021
Research and development	161		411		827
General and administrative	2,683		3,211		5,186
Total stock-based compensation expense	$	3,191	$	4,535	$	8,178

[4]

Adjusted retroactively for the Reverse Stock Split, refer to Footnote 2, Summary of Significant Accounting Policies.

Property and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment


	As of December 31,
(In thousands)	2024		2023
Computer equipment	$	59,572	$	65,975
Capitalized internal-use software	117,863		95,094
Leasehold improvements	14,656		15,571
Computer software (including software license arrangements of $1,365 in 2024 and 2023, respectively)	8,082		8,402
Finance leases	20,974		13,113
Office equipment, furniture, and other	5,154		5,186




Total property and equipment	226,301		203,341
Less: accumulated depreciation and amortization (including software license arrangements of $1,365 in 2024 and $1,350 in 2023)	(179,185)		(161,767)
Total property and equipment, net	$	47,116	$	41,574

For the years ended December 31, 2024, 2023, and 2022, depreciation expense was $22.1 million, $19.8 million and $16.8 million, respectively. In addition, amortization expense from finance leases was $3.7 million, $1.9 million and $2.4 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Of the Company's property and equipment, net, 99% was located in the United States as of December 31, 2024 and 2023.

Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit) - Schedule of Exercise Price Range (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range
Options Outstanding (in shares) \| shares	99,469
Weighted Average Exercise Price (in dollars per share)	$ 42.15
Weighted Average Remaining Contractual Life (Years)	5 years 10 months 9 days
Options Exercisable (in shares) \| shares	75,269
Weighted Average Exercise Price (in dollars per share)	$ 39.83
Weighted Average Remaining Contractual Life (Years)	5 years 3 months 10 days
$11.40 - $50.00
Share-based Payment Arrangement, Option, Exercise Price Range
Lower range (in dollars per share)	$ 11.40
Upper range (in dollars per share)	$ 50.00
Options Outstanding (in shares) \| shares	84,304
Weighted Average Exercise Price (in dollars per share)	$ 38.14
Weighted Average Remaining Contractual Life (Years)	6 years 14 days
Options Exercisable (in shares) \| shares	60,104
Weighted Average Exercise Price (in dollars per share)	$ 33.62
Weighted Average Remaining Contractual Life (Years)	5 years 4 months 20 days
$64.20 - $87.20
Share-based Payment Arrangement, Option, Exercise Price Range
Lower range (in dollars per share)	$ 64.20
Upper range (in dollars per share)	$ 87.20
Options Outstanding (in shares) \| shares	15,165
Weighted Average Exercise Price (in dollars per share)	$ 64.45
Weighted Average Remaining Contractual Life (Years)	4 years 10 months 13 days
Options Exercisable (in shares) \| shares	15,165
Weighted Average Exercise Price (in dollars per share)	$ 64.45
Weighted Average Remaining Contractual Life (Years)	4 years 10 months 13 days

Fair Value Measurements - Schedule of Reconciliation of Level 3 Fair Valued Instruments (Details) - Warrants Liability - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 669	$ 718
Total gain recognized due to remeasurement and expiration of warrants	(669)	(49)
Ending Balance	$ 0	$ 669

Organizational Restructuring (Tables)

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Schedule of Accrued Restructuring Expenses and Changes in Accrued Amounts

The following table summarizes costs incurred related to the Restructuring Plan for the years ended December 31, 2024, 2023, and 2022.


	Years Ended December 31,
(In thousands)	2024		2023		2022
Severance and related costs	$	788	$	5,464	$	4,578
Other	239		770		1,232
Total restructuring	$	1,027	$	6,234	$	5,810


(In thousands)	Severance and Related Costs		Other		Total Restructuring Expense
Restructuring expense	$	5,464	$	770	$	6,234
Payments	(5,140)		(664)		(5,804)
Foreign exchange	(88)		—		(88)
Accrued balance as of December 31, 2023	$	1,524	$	106	$	1,630
Restructuring expense	788		239		1,027
Payments	(2,316)		(151)		(2,467)
Other	323		(171)		152
Accrued balance as of December 31, 2024	$	319	$	23	$	342

Fair Value Measurements - Narrative (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Jun. 30, 2023

Sep. 30, 2022

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Impairment of goodwill

$ 63,000

$ 34,100

$ 44,100

$ 46,300

$ 63,000

$ 78,200

$ 46,300

Temporary equity, initial fair value net of issuance costs

19,600

Convertible redeemable preferred stock, net of issuance costs

^[1]

$ 13,017

[1]	Transactions for these line items were exclusively with related parties (refer to Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit), and Footnote 13, Related Party Transactions, of the Notes to Consolidated Financial Statements for additional information).

Summary of Significant Accounting Policies - Narrative (Details)
$ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Jul. 24, 2024

USD ($)

Jul. 23, 2024

USD ($)

Dec. 20, 2023

May 16, 2023

Jun. 30, 2022

USD ($)

Dec. 31, 2021

USD ($)

subsidiary

Sep. 30, 2024

USD ($)

Dec. 31, 2023

USD ($)

$ / shares

Sep. 30, 2023

USD ($)

office_space

Jun. 30, 2023

USD ($)

Dec. 31, 2022

USD ($)

Sep. 30, 2022

USD ($)

Dec. 31, 2024

USD ($)

reporting_unit

$ / shares

Dec. 31, 2023

USD ($)

$ / shares

Dec. 31, 2022

USD ($)

Dec. 19, 2023

Dec. 12, 2023

$ / shares

Mar. 10, 2021

$ / shares

Jan. 31, 2021

$ / shares

Summary of Significant Accounting Policies

Common stock, par value (in dollars per share) | $ / shares

$ 0.001

Common stock, shares authorized (in shares) | shares

13,750,000

275,000,000

Number of shares authorized (in shares) | shares

118,750,000

380,000,000

Stockholders' equity, reverse stock split

0.05

Convertible redeemable preferred stock, par value (in dollars per share) | $ / shares

$ 0.001

Convertible redeemable preferred stock, net of issuance costs (in shares) | shares

13,257,294

^[1]

Dividends payable

$ 32,800

$ 24,100

$ 9,000

$ 24,100

Preferred stock, special dividend threshold

47,000

$ 100,000

47,000

Liquidation preference

$ 32,800

Capitalized internally developed software costs

22,800

22,400

$ 17,200

Depreciation of capitalized software costs

20,400

18,100

15,100

Contingent consideration liability

1,200

$ 4,900

1,200

4,900

Capitalized implementation costs, net of accumulated amortization

3,500

$ 2,200

3,500

Amortization period (in years)

5 years

Capitalized implementation costs, amortization expense

$ 1,400

1,400

Number of reporting units | reporting_unit

Impairment of goodwill

$ 63,000

34,100

$ 44,100

$ 46,300

$ 63,000

78,200

46,300

Operating lease, number of office spaces abandoned | office_space

Impairment of right-of-use and long-lived assets

$ 1,400

$ 1,500

$ 200

$ 1,397

1,502

156

Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]

Other current liabilities

Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]

Other Liabilities, Noncurrent

Fair value of non-cash consideration received

$ 4,300

4,200

3,900

Amounts included in expense related to nonmonetary transactions

4,300

4,100

Convertible redeemable preferred stock dividends

$ 15,500

$ 17,600

^[2]

$ 16,270

^[2]

$ 15,513

^[2]

Employees, Directors and Certain Consultants | Restricted Stock Units

Summary of Significant Accounting Policies

Forfeiture rate

10.00%

Senior Executives | Restricted Stock Units

Summary of Significant Accounting Policies

Forfeiture rate

0.00%

Measurement Input, Discount Rate | Income approach

Summary of Significant Accounting Policies

ROU assets and leasehold improvements, measurement input

0.093

0.074

0.093

0.074

Shareablee

Summary of Significant Accounting Policies

Number of wholly owned subsidiaries | subsidiary

Total purchase consideration

$ 31,400

Contingent consideration liability

5,600

Contingent consideration scheduled payments

$ 3,700

Contingent consideration, liability expected to be settled in next twelve months

$ 1,200

Computer software

Summary of Significant Accounting Policies

Internal-use software, estimated useful life (in years)

3 years

Minimum

Summary of Significant Accounting Policies

Internal-use software, estimated useful life (in years)

3 years

Maximum

Summary of Significant Accounting Policies

Internal-use software, estimated useful life (in years)

10 years

Maximum | Shareablee

Summary of Significant Accounting Policies

Contingent consideration liability

$ 8,600

Preferred Stock | Liberty | Qurate

Summary of Significant Accounting Policies

Number of shares issued in transaction (in shares) | shares

27,509,203

[1]

[2]

Transactions with related parties are included in the line items above as follows (refer to Footnote 13, Related Party Transactions, for further information):


	Years Ended December 31,
	2024		2023		2022
Revenues	$	10,217	$	11,420	$	14,934
Cost of revenues	30,450		29,265		26,971
Convertible redeemable preferred stock dividends	(17,600)		(16,270)		(15,513)

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2024	Feb. 28, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-33520
Entity Registrant Name	COMSCORE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1955550
Entity Address, Address Line One	11950 Democracy Drive, Suite 600
Entity Address, City or Town	Reston
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	20190
City Area Code	703
Local Phone Number	438-2000
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	SCOR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Public Float			$ 55.0
Entity Common Stock, Shares Outstanding		4,913,077
Documents Incorporated by Reference	Specified portions of the registrant's Proxy Statement with respect to its 2025 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission no later than 120 days following the end of the registrant's fiscal year ended December 31, 2024, are incorporated by reference in Part III of this Annual Report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0001158172

Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

Operating segments are defined as components of a business that can earn revenues and incur expenses for which discrete financial information is available and is evaluated on a regular basis by the chief operating decision maker ("CODM"). The Company's CODM is its Chief Executive Officer, who decides how to allocate resources and assess performance. The Company operates as one operating segment. A single management team reports to the CODM, who manages the business on a consolidated basis.

The Company's CODM uses consolidated net income to make decisions, allocate resources and assess performance. The following table presents financial information that is presented to the CODM with respect to the Company's single operating segment for the years ended December 31, 2024, 2023 and 2022:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Revenues
Content & Ad Measurement	$	301,124	$	309,904	$	307,479
Syndicated Audience	260,654		276,101		282,238
Cross Platform	40,470		33,803		25,241
Research & Insight Solutions	54,923		61,439		68,944
Total revenues	$	356,047	$	371,343	$	376,423

Cost of goods sold	136,831		137,722		137,163

Operating expenses
Compensation	$	125,946	$	133,934	$	146,313
Professional fees	20,693		22,095		22,042
Facilities & office expense	10,263		11,034		12,915
Software licenses, maintenance and systems	12,498		12,576		12,770
Travel & entertainment	2,075		1,940		1,536
Other operating expenses	5,379		8,011		6,216
Total operating expenses	$	176,854	$	189,590	$	201,792

Depreciation & amortization	$	28,795	$	26,920	$	46,288
Stock-based compensation	3,191		4,535		8,178
Non-recurring expenses (income)	846		1,740		(5,646)
Restructuring & transformation	2,574		7,517		6,270
Impairment	64,397		79,702		46,300
Interest expense, net	1,883		1,445		915
Taxes	924		1,533		1,724
Net loss	$	(60,248)	$	(79,361)	$	(66,561)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Contractual Obligation

The information set forth below summarizes the contractual obligations, by year, as of December 31, 2024:


	(In thousands)
2025	$	40,285
2026	40,266
2027	26,135
2028	15,903
2029	14,115
Thereafter	14,163
Total	$	150,867

Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit) - Schedule of Nonvested Stock Awards (Details) - Restricted Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units
Unvested as of beginning of period (in shares)	313,724	232,230	201,511
Granted (in shares)	229,795	234,171	117,929
Vested (in shares)	(140,901)	(152,422)	(74,656)
Forfeited (in shares)	(20,987)	(255)	(12,554)
Unvested as of end of period (in shares)	381,631	313,724	232,230
Weighted Average Grant-Date Fair Value
Unvested at beginning of period (in dollars per share)	$ 42.38	$ 53.80	$ 75.20
Granted (in dollars per share)	15.19	19.08	40.80
Vested (in dollars per share)	20.68	23.11	80.20
Forfeited (in dollars per share)	49.68	47.60	120.80
Unvested at end of period (in dollars per share)	$ 33.62	$ 42.38	$ 53.80

Revenue Recognition - Narrative (Details)	12 Months Ended
Revenue Recognition - Narrative (Details)	Dec. 31, 2024 segment
Revenue from Contract with Customer [Abstract]
Number of reportable segments	1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	The accompanying Consolidated Financial Statements include the accounts of the Company and its wholly-owned domestic and foreign subsidiaries. All intercompany transactions and balances are eliminated upon consolidation.
Reverse Stock Split	Reverse Stock Split On December 12, 2023, the Company held a special meeting of stockholders of the Company (the "Special Meeting"). At the Special Meeting, the stockholders approved an amendment to the Company's Amended and Restated Certificate of Incorporation (the "Certificate of Amendment") for the purpose of effecting a reverse stock split (the "Reverse Stock Split") of all outstanding shares of Common Stock, par value $0.001 per share (the "Common Stock") and reducing the number of authorized shares of Common Stock by the same ratio as the Reverse Stock Split. Following the Special Meeting, the Board of Directors approved a final ratio of 1-for-20 for the Reverse Stock Split with an effective date of December 20, 2023. On December 20, 2023, the Company filed the Certificate of Amendment with the Secretary of State of the State of Delaware to implement the Reverse Stock Split, without any change to the par value of the Common Stock. The Certificate of Amendment reduced the number of authorized shares of Common Stock from 275,000,000 to 13,750,000 and the total number of shares of stock authorized for issuance from 380,000,000 to 118,750,000. The Company implemented the Reverse Stock Split on December 20, 2023. The Common Stock began trading on a split-adjusted basis on the Nasdaq Global Select Market on December 20, 2023, under the existing trading symbol "SCOR", but the security was assigned a new CUSIP number (20564W204). As a result of the Reverse Stock Split, every 20 shares of Common Stock issued and outstanding or held in treasury immediately prior to the Reverse Stock Split were converted into one share of Common Stock after the Reverse Stock Split. The Reverse Stock Split applied uniformly to all holders of Common Stock and did not alter any stockholder's percentage interest in the Company, except to the extent that the Reverse Stock Split would have resulted in some stockholders owning a fractional share. No fractional shares were issued in connection with the Reverse Stock Split, as all fractional shares were rounded down to the nearest whole share. Stockholders who would otherwise have been entitled to a fractional share of Common Stock were instead entitled to receive a proportional cash payment. Unless noted, all shares of Common Stock, including Common Stock underlying warrants, stock options, and restricted stock units, as well as all conversion ratios, exercise prices, conversion prices and per share information in the Consolidated Financial Statements have been retroactively adjusted to reflect the 1-for-20 Reverse Stock Split, as if the split occurred at the beginning of the earliest period presented in this Annual Report.
Reclassification	Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. Specifically, contingent consideration has been aggregated within other current liabilities on the Consolidated Balance Sheets and the change in fair value of contingent consideration liability has been aggregated within other operating activities on the Consolidated Statements of Cash Flows.
Use of Estimates and Judgments in the Preparation of the Consolidated Financial Statements	The preparation of financial statements in conformity with generally accepted accounting principles ("GAAP") in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenue and expense during the reporting periods. Significant estimates and judgments are inherent in the analysis and the measurement of management's Standalone Selling Price ("SSP"), principal versus agent revenue recognition, determination of performance obligations, determination of transaction price, including the determination of variable consideration and allocation of transaction price to performance obligations, deferred tax assets and liabilities, including the identification and quantification of income tax liabilities due to uncertain tax positions, the valuation and recoverability of goodwill, intangible and other long-lived assets, the determination of appropriate discount rates for lease accounting, the probability of exercising either lease renewal or termination clauses, the assessment of potential loss from contingencies, the fair value determination of contingent consideration from business combinations, financing-related liabilities and warrants, the initial fair value determination of the Preferred Stock (as defined below) and the valuation of options, performance-based and market-based stock awards. Management bases its estimates and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in those estimates. The Company evaluates its estimates and assumptions on an ongoing basis.
Fair Value Measurements	The Company evaluates the fair value of certain assets and liabilities using the fair value hierarchy. Fair value is an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company applies the three-tier GAAP value hierarchy which prioritizes the inputs used in measuring fair value as follows: Level 1 - observable inputs such as quoted prices in active markets; Level 2 - inputs other than the quoted prices in active markets that are observable either directly or indirectly; Level 3 - unobservable inputs of which there is little or no market data, which require the Company to develop its own assumptions. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measure. The Company's assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. Assets that are measured at fair value on a non-recurring basis include property and equipment, operating right-of-use assets, intangible assets and goodwill. The Company measures these items at fair value when they are considered to be impaired or, in certain cases, upon initial recognition. The fair value of these assets are determined with valuation techniques using the best information available and may include market comparable information, discounted cash flow models, or a combination thereof. The carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses, and the current portion of contract liabilities and customer advances reported in the Consolidated Balance Sheets approximate fair value due to the short-term nature of these instruments. The carrying amount of the Company's prior revolving line of credit approximated fair value due to the variable rate nature of the debt. The primary sensitivities in the valuation of the warrants liability were driven by the exercise price, the Common Stock price at the measurement date and the expected volatility of the Common Stock over the remaining term.
Preferred Stock	The issuance of the Preferred Stock pursuant to the Securities Purchase Agreements (the "Transactions") and related matters were approved by the Company's stockholders on March 9, 2021 and completed on March 10, 2021. On May 16, 2023, Qurate sold 27,509,203 shares of Preferred Stock to Liberty Broadband Corporation ("Liberty") in a privately negotiated transaction. On July 24, 2024, the Company issued 13,257,294 additional shares of Preferred Stock to the existing holders of Preferred Stock in exchange for cancellation of the Company's obligation to pay accrued dividends totaling $32.8 million to such holders for annual dividend periods ended in 2023 and 2024. The additional shares of Preferred Stock have the same terms and conditions as the Preferred Stock previously issued by the Company. In connection with the issuance of the additional shares of Preferred Stock, the Company and the holders of the Preferred Stock also entered into an amendment to the Stockholders Agreement between the parties. Among other things, the amendment reduced the $100.0 million special dividend threshold set forth in the Stockholders Agreement by an amount equal to the liquidation preference of the additional Preferred Stock ($32.8 million). After further reducing the threshold by annual dividends paid in prior years, the current special dividend threshold is $47.0 million. The Preferred Stock is contingently redeemable upon certain deemed liquidation events, such as a change in control. Because a deemed liquidation event could constitute a redemption event outside of the Company's control, all shares of Preferred Stock have been presented outside of permanent equity in mezzanine equity on the Consolidated Balance Sheets. The instrument was initially recognized at fair value net of issuance costs. The Company reassesses whether the Preferred Stock is currently redeemable, or probable to become redeemable in the future, as of each reporting date. If the instrument meets either of these criteria, the Company will accrete the carrying value to the redemption value. The Preferred Stock has not been adjusted to its redemption amount as of December 31, 2024 because a deemed liquidation event is not considered probable. All financial instruments that are classified as mezzanine equity are evaluated for embedded derivative features by evaluating each feature against the nature of the host instrument (for example, more equity-like or debt-like). Features identified as embedded derivatives that are material are recognized separately as a derivative asset or liability in the financial statements. No embedded features were identified requiring bifurcation, other than the change of control redemption feature.
Cash, Cash Equivalents	Cash and cash equivalents are maintained with several financial institutions domestically and internationally. The combined account balances held on deposit at each institution typically exceed Federal Deposit Insurance Corporation ("FDIC") insurance coverage and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. The Company reduces this risk by maintaining such deposits with high quality financial institutions that management believes are creditworthy, and by monitoring this credit risk and making adjustments as necessary. The Company considers highly liquid investments with an original maturity of three months or less at the time of purchase and qualifying money-market funds as cash equivalents.
Restricted Cash	Restricted cash represents security deposits for subleased office space and cash collateral for outstanding letters of credit.
Allowance for Doubtful Accounts	The Company generally grants uncollateralized credit terms to its customers. Credit risk associated with accounts receivable is mitigated by the Company's ongoing credit evaluation of its customers' financial condition. An allowance for doubtful accounts is maintained to reserve for uncollectible receivables. Allowances are based on management's judgment, which considers historical collection experience adjusted for current conditions or expected future conditions based on reasonable and supportable forecasts, a specific review of all significant outstanding receivables, an assessment of company-specific credit conditions and general economic conditions.
Property and Equipment, net	Property and equipment is recorded at cost, net of accumulated depreciation, and is depreciated on a straight-line basis over the estimated useful lives of the assets, ranging from 3 to 10 years. Finance lease assets are recorded at their net present value at the commencement of the lease. Both finance lease assets and leasehold improvements are amortized on a straight-line basis over the shorter of the related lease terms or their useful lives. Replacements and major improvements are capitalized; maintenance and repairs are expensed as incurred.
Capitalized Software	Included in property and equipment, net, are capitalized software costs to purchase and develop internal-use software, which the Company uses to provide services to its clients. The costs to purchase and develop internal-use software are capitalized from the time that the preliminary project stage is completed, and it is considered probable that the software will be used to perform the function intended, until the time the software is placed in service for its intended use. Any costs incurred during subsequent efforts to upgrade and enhance the functionality of the software are also capitalized. Once this software is ready for use in the Company's products, these costs are amortized on a straight-line basis over the estimated useful life of the software, which is typically assessed to be 3 years.
Business Combination	In December 2021, the Company and two newly formed, wholly owned subsidiaries of the Company entered into an Agreement and Plan of Merger (the "Merger Agreement" or "Merger") with Shareablee, Inc. ("Shareablee"), to acquire Shareablee in exchange for shares of the Company's Common Stock and contingent consideration payable subject to the achievement of certain conditions set forth in the Merger Agreement. Total consideration paid or payable by the Company related to the Merger (valued as of the closing date of the Merger) was $31.4 million, which included $5.6 million for the fair value of contingent consideration payable based on the achievement of certain contractual milestones or future revenue performance. The maximum amount of contingent consideration payable under the Merger was $8.6 million. In April 2022, the contingency was resolved and the full amount was deemed payable, subject to reduction for any pending indemnification claims and other terms set forth in the Merger Agreement. The resolution of this contingency eliminated the option pricing model as a valuation technique, and the fair value was remeasured using only the discounted cash flow model. The Company settled the first installment of $3.7 million in cash in 2023 and the second installment of $3.7 million in cash in 2024. In December 2024, the Company elected to settle the third and final installment of $1.2 million in cash. This amount remained outstanding as of December 31, 2024 and was paid in 2025. Refer to Footnote 6, Fair Value Measurements, for additional information on the fair value of the contingent consideration.
Cloud Computing Implementation Costs	Certain costs incurred for implementation, setup, and other upfront activities in a hosting arrangement that is a service contract are capitalized during the application development stage. Upgrades and enhancements are capitalized if they will result in additional functionality. Amortization of capitalized costs is recorded on a straight-line basis over the term of the associated hosting arrangement, inclusive of reasonably certain renewal periods.
Goodwill and Intangible Assets	Goodwill represents the excess of the purchase consideration over the fair value of identifiable assets acquired and liabilities assumed when a business is acquired. The valuation of intangible assets and goodwill involves the use of management's estimates and assumptions and can have a significant impact on future operating results. The Company initially records its intangible assets at fair value. Definite-lived intangible assets are amortized over their estimated useful lives while goodwill is not amortized but is evaluated for impairment at least annually, as of October 1, by comparing the fair value of a reporting unit to its carrying value including goodwill recorded by the reporting unit. The Company has a single reporting unit. Accordingly, the impairment assessment for goodwill is performed at the enterprise level. Goodwill is reviewed for possible impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. The Company has the option to first perform qualitative testing to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. The qualitative evaluation is an assessment of factors, including operating results and cost factors, as well as industry, market and macroeconomic conditions, to determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount, including goodwill. If the Company chooses not to complete a qualitative assessment or if the initial assessment indicates that it is more likely than not that the carrying value of the reporting unit exceeds its estimated fair value, additional quantitative testing is required. The fair value of the reporting unit is determined utilizing a discounted cash flow model, and a market value approach is utilized to supplement the discounted cash flow model. The estimated fair value of a reporting unit is determined based on assumptions regarding estimated future cash flows, discount rates, long-term growth rates and market values. Additionally, the Company considers income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment charge. The Company monitors for events and circumstances that could negatively impact the key assumptions in determining fair value, including long-term revenue growth projections, profitability, discount rates, volatility in the Company's market capitalization, general industry, and market and macroeconomic conditions. It is possible that future changes in such circumstances, or in the variables associated with the judgments, assumptions and estimates used in assessing the fair value of the reporting unit, would require the Company to record a material non-cash impairment charge. During the third quarter of 2024, the Company concluded that it was more likely than not that the estimated fair value of its reporting unit was less than its carrying value. In its assessment, the Company considered changes in the Company's stock price, market and equity capitalization, operating results and projections. The Company performed quantitative testing on its reporting unit using a discounted cash flow model (a form of the income approach) utilizing Level 3 unobservable inputs, supported by a market approach. The Company's reporting unit did not pass the goodwill impairment test, and as a result, the Company recorded a $63.0 million non-cash impairment charge during the three months ended September 30, 2024. No additional impairment indicators were identified during the fourth quarter of 2024. Refer to Footnote 9, Goodwill and Intangible Assets, for further information. The Company evaluates its definite-lived intangible assets for impairment whenever events or changes in circumstances indicate the carrying value of such assets may not be recoverable. If an indication of impairment is present, the Company compares the estimated undiscounted future cash flows to be generated by the asset group to its carrying amount. Recoverability measurement and estimation of undiscounted cash flows are grouped at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. If the undiscounted future cash flows are less than the carrying amount of the asset group, the Company records an impairment loss equal to the excess of the asset group's carrying amount over its fair value. The fair value is determined based on valuation techniques such as a comparison to fair values of similar assets or using a discounted cash flow analysis.
Recoverability of Other Long-Lived Assets	The Company's other long-lived assets consist primarily of property and equipment and right-of-use ("ROU") assets. The Company evaluates its ROU and long-lived assets for impairment whenever events or changes in circumstances indicate the carrying value of such assets may not be recoverable. For facility lease ROU and related long-lived assets, the Company compares the estimated undiscounted cash flows generated by a sublease to the current carrying value of the ROU and related long-lived assets. The Company treats operating lease ROU assets as financing transactions, thereby excluding the operating lease liability and related lease payments from the head lease, for purposes of testing recoverability. If the undiscounted cash flows are less than the carrying value of the ROU and related long-lived assets, the Company records an impairment loss equal to the excess of the ROU and long-lived assets' carrying value over their fair value. The Company performed an analysis in the third quarter of 2024 related to the execution of a sublease for an office space for which expected cash receipts are less than the disbursements for the primary lease. The Company recorded a $1.4 million non-cash impairment charge related to the ROU asset and associated leasehold improvements during the three months ended September 30, 2024. The fair value of the ROU asset was estimated using an income approach and a discount rate of 9.3%. The Company performed an analysis in the third quarter of 2023 related to the abandonment of two leased office spaces, which changed the extent and manner for which the ROU assets and related long-lived assets were being used. The Company recorded a non-cash impairment charge of $1.5 million related to the ROU assets during the three months ended September 30, 2023. The Company performed an analysis in the fourth quarter of 2022 related to the execution of a sublease for a property for which expected cash receipts were less than the disbursements for the lease. The Company recorded a $0.2 million non-cash impairment charge related to the ROU asset during the three months ended December 31, 2022. The fair value of the ROU asset was estimated using an income approach and a discount rate of 7.4%. Although the Company believes that the carrying values of its other long-lived assets are appropriately stated as of December 31, 2024, changes in strategy or market conditions, significant technological developments or significant changes in legal or regulatory factors could significantly impact these judgments and require adjustments to recorded asset balances.
Warrants Liability	In 2019, the Company issued warrants in connection with the private placement described in Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit). The warrants were determined to be freestanding financial instruments that qualify for liability treatment as a result of net cash settlement features associated with a cap on the issuance of shares, under certain circumstances, or upon a change of control. Changes in the fair value of these instruments were recorded in other income, net in the Consolidated Statements of Operations and Comprehensive Loss. The fair value of each warrant was estimated utilizing an option pricing model. Significant valuation inputs included the exercise price, price and expected volatility of the Company's Common Stock, risk-free rate and the remaining term of the warrants. All remaining warrants expired on June 26, 2024.
Leases	The Company's lease portfolio is comprised of two major classes. Real estate leases, which are the majority of the Company's leased assets, are accounted for as operating leases. Computer equipment leases are generally accounted for as finance leases. The Company determines if an arrangement is or contains a lease at inception and whether the lease should be classified as an operating or finance lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of the future minimum lease payments over the lease term. Operating ROU assets also include the impact of any lease incentives. A ROU asset and lease liability are not recorded for short-term leases with an initial term of 12 months or less. The Company has elected to combine lease and non-lease components and account for them together as a single lease component, which increases the carrying amount of the ROU assets and lease liabilities. Non-lease components primarily include payments for common-area maintenance, utilities and other pass-through charges. The Company uses its incremental borrowing rate to determine the present value of the future lease payments. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. The Company's lease terms include periods under options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company considers contractual-based factors such as the nature and terms of the renewal or termination, asset-based factors such as physical location of the asset and entity-based factors such as the importance of the leased asset to the Company's operations to determine the lease term. The Company generally uses the non-cancelable lease term when measuring its ROU assets and lease liabilities. Payments under the Company's lease arrangements are primarily fixed; however, certain lease agreements contain variable payments, which are expensed as incurred and excluded from the measurement of ROU assets and lease liabilities. These payment amounts are affected by changes in market indices and costs for common-area maintenance, utilities and other pass-through charges that are based on usage or performance. Operating leases are included in operating ROU assets, current operating lease liability, and non-current operating lease liability in the Consolidated Balance Sheets. The Company recognizes lease expense (excluding variable lease costs) for its operating leases on a straight-line basis over the term of the lease. Finance lease assets are included in property and equipment, net; current finance lease liabilities are aggregated into other current liabilities; and non-current finance lease obligations are aggregated in other non-current liabilities in the Consolidated Balance Sheets. The Company recognizes interest expense on the lease liability and the ROU asset is amortized over the lease term for its finance leases. Income from subleased properties is recognized and presented as a reduction of costs, allocated among operating expense line items, in the Consolidated Statements of Operations and Comprehensive Loss.
Foreign Currency	Generally, the functional currency of the Company's foreign subsidiaries is the local currency. In those cases where the transaction is not denominated in the functional currency, the Company revalues the transaction to the functional currency and records the transaction gain or loss in the Company's Statements of Operations and Comprehensive Loss. Assets and liabilities are translated at the current exchange rate as of the end of the year, and revenues and expenses are translated at average exchange rates in effect during the year. The gain or loss resulting from the process of translating a foreign subsidiary's functional currency financial statements into U.S. Dollars ("USD") is reflected as foreign currency cumulative translation adjustment and reported as a component of accumulated other comprehensive loss. The translation adjustment for intercompany foreign currency loans that are permanent in nature are also recorded as accumulated other comprehensive loss. Translation adjustments on intercompany accounts that are short term in nature are recorded as (loss) gain from foreign currency transactions. For foreign entities where USD is the functional currency, re-measurement of gains and losses related to deferred tax assets and liabilities are reflected in income tax provision in the Consolidated Statements of Operations and Comprehensive Loss.
Revenue Recognition and Cost of Revenues	The Company recognizes revenue under the core principle to depict the transfer of control to its customers in an amount reflecting the consideration to which it expects to be entitled. The Company's contracts with customers may include multiple promised goods and services. Contracts with multiple performance obligations typically consist of a mix of subscriptions to the Company's online database, customized data services, and delivery of periodic custom reports based on information obtained from the database. In such cases, the Company identifies performance obligations by evaluating whether the promised goods and services are capable of being distinct and distinct within the context of the contract at contract inception. Promised goods and services that are not distinct at contract inception are combined as one performance obligation. Once the Company identifies the performance obligations, the Company will determine the transaction price based on contractually fixed amounts and an estimate of variable consideration. In general, the transaction price is determined by estimating the fixed amount of consideration to which the Company is entitled for transfer of goods and services and all relevant sources and components of variable consideration. Variable consideration is estimated based on the most likely amount or expected value approach, depending on which method the Company expects to better predict the amount of consideration to which it will be entitled. Once the Company elects one of the methods to estimate variable consideration for a particular type of performance obligation, the Company will apply that method consistently. Estimates of variable consideration are subject to constraint based on expected recovery from the customer. Sales taxes remitted to government authorities are excluded from the transaction price. The Company allocates the transaction price to each performance obligation based on relative SSP. Judgment is exercised to determine the SSP of each distinct performance obligation. In most cases, the Company bundles multiple products and very few are sold on a standalone basis. The Company primarily applies an adjusted market assessment approach for the determination of the SSP, which is supported by rate cards and pricing calculators that are periodically reviewed and updated to reflect the latest sales data and observable inputs by industry, channel, geography, customer size, and other relevant groupings. The Company recognizes revenue when (or as) it satisfies a performance obligation by transferring promised goods or services to a customer. Customers may obtain the control of promised goods or services over time or at a point in time. Subscription-based revenues, and other products delivered continuously through a user interface, are recognized on a straight-line basis over an access period specified within the respective contract. Revenues for impression-based products are typically recognized over time, on a time-elapsed basis, as the customer is continuously consuming and receiving the benefits of campaign measurement, or an output method, such as volume of impressions processed during a discrete period. Report-based revenues are recognized at a point in time, which is generally once the product has been delivered to the customer. The Company also considers whether there is a present right to payment, and whether the customer has accepted the product if such acceptance provisions are substantive. Customers may have the right to cancel their contracts by providing a written notice of cancellation, although most subscription-based contracts are non-cancelable. If a customer cancels its contract, the customer is generally not entitled to a refund for prior services. In the event a portion of a contract is refundable, revenue recognition is delayed until the refund provision lapses. For multi-year contracts with annual price increases, the total consideration for each of the years included in the contract term will be combined and recognized on a straight-line basis. For transactions that involve third parties, the Company evaluates whether it is the principal, in which case it recognizes revenue on a gross basis. If the Company is an agent, it recognizes revenue on a net basis. This determination can require significant judgment for certain revenue share arrangements that involve the use of partner data in the Company's sales to end users or the use of its data in partner sales to end users. In these arrangements, the Company assesses which party controls the specified goods or services before they are transferred to the customer, as well as other indicators such as the party primarily responsible for fulfillment, inventory risk, and discretion in establishing price. The Company enters into a limited number of monetary contracts with multichannel video programming distributors ("MVPDs") that involve both the purchase and sale of services with a single counterparty. Each contract is assessed to determine if the revenue and expense should be presented gross or net. In some instances, the Company may provide free distinct goods or services as a form of non-cash consideration to the counterparty. Revenue is recognized for these contracts to the extent SSP is established for distinct services provided. Any excess consideration above the established SSP of services is presented as a reduction to cost of revenues in the Consolidated Statements of Operations and Comprehensive Loss. The fair value of non-cash consideration included in revenues during the years ended December 31, 2024, 2023 and 2022 totaled $4.3 million, $4.2 million, and $3.9 million, respectively. The fair value of non-cash consideration included in cost of revenues during the years ended December 31, 2024, 2023 and 2022 totaled $4.3 million, $4.3 million and $4.1 million, respectively. Contract Balances Accounts receivable are billed and unbilled amounts where the right to payment from the customer is unconditional but for the passage of time. Contract assets represent amounts where the right to payment in exchange for goods or services transferred is conditioned on future events, such as the entity's continued performance. The portion of contract assets to be billed in the succeeding twelve-month period are included in prepaid expenses and other current assets, and the remaining amounts are included in other non-current assets within the Consolidated Balance Sheets. Contract liabilities relate to amounts billed in advance, or advance consideration received from customers, under non-cancelable contracts for which exchange of goods or services will occur in the future. Customer advances relate to amounts billed in advance, or advance considerations received from customers, for contracts with termination rights for which exchange of goods or services will occur in the future. The portion of contract liabilities and customer advances to be recognized in the succeeding twelve-month period are presented separately within current liabilities, and the remaining amounts are included in other non-current liabilities within the Consolidated Balance Sheets. Remaining Performance Obligations The Company elected an optional exemption to not disclose information about the amount of the transaction price allocated to remaining performance obligations for contracts that have an original expected duration of one year or less. The amount disclosed for remaining performance obligations also excludes variable consideration from unsatisfied performance obligations within a series where revenue is recognized using an output method, such as volume of impressions processed. Cost of Revenues Cost of revenues consists primarily of costs to produce the Company's products including viewing data from MVPDs, census-based, panel and other third-party data as well as costs to operate its network infrastructure including data center, data storage and compliance costs. Other costs include employee costs including stock-based compensation, depreciation related to assets used to maintain the network and produce products and allocated overhead, including rent and depreciation expenses generated by general purpose equipment and software.
Selling and Marketing	Selling and marketing expenses consist primarily of salaries, commissions, stock-based compensation, benefits and bonuses for personnel associated with sales and marketing activities, as well as costs related to online and offline advertising, product management, seminars, promotional materials, public relations, other sales and marketing programs, and allocated overhead, including rent and other facilities related costs, and depreciation.
Research and Development	Research and development expenses consist primarily of salaries, stock-based compensation, benefits and related costs for personnel associated with research and development activities, as well as allocated overhead, including rent and other facilities related costs, and depreciation.
General and Administrative	General and administrative expenses consist primarily of salaries, stock-based compensation, benefits and related costs for executive management, finance, accounting, human capital, legal, information technology and other administrative functions, as well as professional fees and allocated overhead, including rent and other facilities related costs, depreciation and expenses incurred for other general corporate purposes.
Other Income (Expense), Net	Other income, net represents income and expenses incurred that are generally not recurring in nature or are not part of the Company's normal operations.
Debt Issuance Costs	Debt issuance costs include expenditures necessary to obtain debt financing and are amortized on a straight-line basis, which approximates the effective interest method over the term of the underlying debt instrument. Debt issuance costs, except for costs associated with the Revolving Facility (as defined below), are presented as a direct deduction from the related debt liability in the Consolidated Balance Sheets. Debt issuance costs for the Revolving Facility are included in other non-current assets in the Consolidated Balance Sheets. The Term Loan (as defined below) and Revolving Facility issuance costs are amortized to interest expense, net in the Consolidated Statements of Operations and Comprehensive Loss.
Stock-Based Compensation	The Company estimates the fair value of stock-based awards on their grant date. The fair value of stock options with only service conditions is determined using the Black-Scholes option pricing model. The determination of the fair value of the Company's stock option awards is based on a variety of factors, including, but not limited to, the Company's Common Stock price, risk-free rate, expected stock price volatility over the expected life of awards, and the expected term of the option. The fair value of restricted stock units ("RSUs") is based on the closing price of the Company's Common Stock on the grant date. The Company amortizes the fair value of awards expected to vest on a straight-line basis over the requisite service periods of the awards, which is generally the period from the grant date to the end of the vesting period. The Company issues stock options with a vesting period based solely upon the passage of time (service vesting). To determine the expected term of the option the Company applies the simplified method for plain-vanilla options due to the lack of significant historical exercise experience. For non-employee options that do not qualify as plain-vanilla the Company has elected to apply the contractual term of the award. The Company issues RSU awards with a vesting period based solely upon the passage of time (service vesting), achieving performance targets, fulfillment of market conditions, or a combination thereof. For those RSU awards with only service vesting, the Company recognizes compensation cost on a straight-line basis over the service period. For awards with both service and performance conditions, the Company starts recognizing compensation cost over the remaining service period when it is probable the performance conditions will be met. Stock awards that contain performance vesting conditions are excluded from diluted earnings per share ("EPS") computations until the contingency is met as of the end of that reporting period. For awards with both service and market conditions, the Company recognizes compensation cost over the remaining service period, with the effect of the market condition reflected in the determination of the award's fair value at the grant date. The Company values awards with market conditions using certain valuation techniques, such as a lattice model or Monte Carlo simulation analysis. The Company determines the requisite service period based on the longer of the explicit service period and the derived service period. Stock awards that contain market vesting conditions are included in the computations of diluted EPS reflecting the number of shares that would be issued based on the current market price at the end of the period being reported on, if their effect is dilutive. Under the Company's annual incentive compensation plan, the Company may grant immediately vested RSUs to certain employees. For these awards, stock-based compensation expense is accrued commencing at the service inception date, which generally precedes the grant date, through the end of the requisite service period. The Company estimates forfeitures for stock-based awards at their grant date based on historical experience. The estimated forfeiture rate as of December 31, 2024, 2023 and 2022 was 10.0% for non-executive awards. Awards granted to senior executives have an estimated forfeiture rate of zero. The Company performs a review of its forfeiture rate assumption on an annual basis. Changes in the estimates and assumptions relating to forfeitures and subsequent grants may result in material changes to stock-based compensation expense in the future.
Income Taxes	Income taxes are accounted for using the asset and liability method. Deferred income taxes are provided for temporary differences in recognizing certain income, expense and credit items for financial reporting purposes and tax reporting purposes. Such deferred income taxes primarily relate to the difference between the tax bases of assets and liabilities and their financial reporting amounts. Deferred tax assets and liabilities are measured by applying enacted statutory tax rates applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized. Excess tax benefits and tax deficiencies are recognized in the income tax provision in the period in which they occur. The Company records a valuation allowance when it determines, based on available positive and negative evidence, that it is more likely than not that some portion or all of its deferred tax assets will not be realized. The Company determines the realizability of its deferred tax assets primarily based on the reversal of existing taxable temporary differences and projections of future taxable income (exclusive of reversing temporary differences and carryforwards). In evaluating such projections, the Company considers its history of profitability, the competitive environment, and general economic conditions. In addition, the Company considers the time frame over which it would take to utilize the deferred tax assets prior to their expiration. For certain tax positions, the Company uses a more-likely-than-not threshold based on the technical merits of the tax position taken. Tax positions that meet the more-likely-than-not recognition threshold are measured at the largest amount of tax benefits determined on a cumulative probability basis, which are more likely than not to be realized upon ultimate settlement in the financial statements. The Company's policy is to recognize interest and penalties related to income tax matters in income tax expense. In December 2017, U.S. tax reform legislation known as the Tax Cuts and Jobs Act (the "TCJA") was signed into law. The Company determined the effects of certain provisions, including but not limited to: a reduction in the corporate tax rate from 35% to 21%, a limitation of the deductibility of certain officers' compensation, a limitation on the current deductibility of net interest expense in excess of 30% of adjusted taxable income, a limitation of net operating losses generated after 2018 to 80% of taxable income, an incremental tax (base erosion anti-abuse or "BEAT") on excessive amounts paid to foreign related parties, and a minimum tax on certain foreign earnings in excess of 10% of the foreign subsidiaries' tangible assets (global intangible low-taxed income or "GILTI"). As part of its GILTI review, the Company has determined that it will account for GILTI income as it is generated (i.e., treat it as a period expense). Given the Company's loss position in the U.S. and the valuation allowance recorded against its U.S. net deferred tax assets, these provisions have not had a material impact on the Company's consolidated financial statements. Beginning in 2022, the TCJA eliminated the option to immediately deduct research and experiment ("R&E") expenditures in the year incurred pursuant to Internal Revenue Code Section 174 ("Section 174"). The amended provision under Section 174 requires taxpayers to capitalize and amortize these expenditures over five years for research performed in the U.S. and over 15 years for research performed outside the U.S. While it is possible that Congress may defer, modify or repeal this provision, potentially with retroactive effect, it was not deferred, modified or repealed as of December 31, 2024. Due to the Company's federal and state net operating loss ("NOL") carryforwards, the amended provision under Section 174 only increased the Company's state cash taxes payable and reduced its cash flow from operating activities by an immaterial amount in 2024, 2023 and 2022. The capitalized R&E expenditures merely caused a reclassification between the NOL deferred tax asset and capitalized R&E deferred tax asset as of December 31, 2024 and 2023. Because the Company's deferred tax assets have a full valuation allowance against them, the amended provision under Section 174 did not materially impact the Company's tax rate or results of operations.
Loss Per Share	The Company uses the two-class method to calculate net loss per share. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common stockholders. Under the two-class method, earnings for the period are allocated between common stockholders and participating security holders based on their respective rights to receive dividends as if all undistributed book earnings for the period were distributed. Basic loss per share is computed by dividing net loss available to only the common stockholders by the weighted-average number of common shares outstanding for the period. This includes the effect of vested and deferred stock units granted to members of the Company's Board of Directors ("Board") and certain employees. These awards are expected to be settled in shares of Common Stock and generally distributed upon the earlier of the individual's separation from service or a change of control. Diluted loss per share includes the effect of potential common shares, such as the Company's Preferred Stock, warrants, stock options, restricted stock units and contingent consideration, to the extent the effect is dilutive. In periods with a net loss available to common stockholders, the anti-dilutive effect of these potential common shares is excluded and diluted net loss per share is equal to basic net loss per share.
Recently Adopted Accounting Guidance and Accounting Guidance Issued But Not Adopted	Recently Adopted Accounting Guidance In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted ASU 2023-07 during the year ended December 31, 2024. Refer to Footn ote 14, Segment Information. Accounting Guidance Issued But Not Adopted at December 31, 2024 In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendments are effective for fiscal years beginning after December 15, 2024 and early adoption is permitted. The amendments in this update should be applied on a prospective basis. Retroactive application is permitted. The Company will adopt the new standard effective January 1, 2025 and is currently evaluating the impact that this standard will have on its Consolidated Financial Statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The ASU requires additional disclosure of the nature of certain expenses in the notes to the financial statements. The update is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The ASU is required to be applied prospectively with the option for retrospective application. The Company is currently evaluating the impact that this standard will have on its Consolidated Financial Statements and related disclosures.

Organizational Restructuring - Schedule of Accrued Restructuring Expenses and Changes in Accrued Amounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 1,027	$ 6,234	$ 5,810
Payments	(2,467)	(5,804)
Foreign exchange		(88)
Restructuring Reserve [Roll Forward]
Accrued beginning balance	1,630
Payments	(2,467)	(5,804)
Other	152
Accrued ending balance	342	1,630
Severance and Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring	788	5,464	4,578
Payments	(2,316)	(5,140)
Foreign exchange		(88)
Restructuring Reserve [Roll Forward]
Accrued beginning balance	1,524
Payments	(2,316)	(5,140)
Other	323
Accrued ending balance	319	1,524
Other
Restructuring Cost and Reserve [Line Items]
Restructuring	239	770	$ 1,232
Payments	(151)	(664)
Foreign exchange		0
Restructuring Reserve [Roll Forward]
Accrued beginning balance	106
Payments	(151)	(664)
Other	(171)
Accrued ending balance	$ 23	$ 106

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment Under Capital Lease Obligations


	As of December 31,
(In thousands)	2024		2023
Computer equipment	$	59,572	$	65,975
Capitalized internal-use software	117,863		95,094
Leasehold improvements	14,656		15,571
Computer software (including software license arrangements of $1,365 in 2024 and 2023, respectively)	8,082		8,402
Finance leases	20,974		13,113
Office equipment, furniture, and other	5,154		5,186




Total property and equipment	226,301		203,341
Less: accumulated depreciation and amortization (including software license arrangements of $1,365 in 2024 and $1,350 in 2023)	(179,185)		(161,767)
Total property and equipment, net	$	47,116	$	41,574

Income Taxes - Schedule of Unrecognized Income Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits
Beginning balance	$ 2,043	$ 2,026	$ 2,052
Increase related to tax positions of the current year	49	39	25
Increase related to tax positions of prior years	0	10	0
Decrease related to tax positions of prior years	(29)	(7)	(22)
Decrease due to lapse in statutes of limitations	(207)	(25)	(29)
Ending balance	$ 1,856	$ 2,043	$ 2,026

CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands

12 Months Ended

Dec. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Operating activities:

Net loss

$ (60,248)

$ (79,361)

$ (66,561)

Adjustments to reconcile net loss to net cash provided by operating activities:

Impairment of goodwill

63,000

78,200

46,300

Depreciation

22,087

19,778

16,828

Non-cash operating lease expense

5,240

5,456

6,060

Amortization expense of finance leases

3,651

1,929

2,364

Stock-based compensation expense

3,191

4,535

8,178

Amortization of intangible assets

3,057

5,213

27,096

Impairment of right-of-use and long-lived assets

1,397

1,502

156

Change in fair value of warrant liability

(669)

(49)

(9,802)

Deferred tax provision

(841)

(35)

(475)

Other

2,008

2,297

4,468

Changes in operating assets and liabilities:

Accounts receivable

(1,649)

4,781

2,596

Prepaid expenses and other assets

1,987

2,185

(805)

Accounts payable, accrued expenses, and other liabilities

(10,570)

(4,121)

7,396

Contract liability and customer advances

(4,739)

(5,517)

(1,587)

Operating lease liabilities

(8,798)

(7,867)

(7,275)

Net cash provided by operating activities

18,104

28,926

34,937

Investing activities:

Capitalized internal-use software costs

(23,249)

(22,206)

(16,685)

Purchases of property and equipment

(813)

(1,580)

(1,137)

Net cash used in investing activities

(24,062)

(23,786)

(17,822)

Financing activities:

Proceeds from secured term loan

45,000

Proceeds from insurance financing

2,118

Payments for dividends on convertible redeemable preferred stock

^[1]

(15,512)

^[1]

Principal payments on insurance financing

(2,122)

Principal payments on finance leases

(2,852)

(2,066)

(2,519)

Contingent consideration payment at initial value

(3,704)

(1,037)

Payments of debt issuance costs

(4,551)

Payments of line of credit

(16,000)

Other

(266)

(291)

(101)

Net cash provided by (used in) financing activities

17,623

(3,394)

(18,132)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(1,133)

748

(820)

Net increase (decrease) in cash, cash equivalents and restricted cash

10,532

2,494

(1,837)

Cash, cash equivalents and restricted cash at beginning of period

22,936

20,442

22,279

Cash, cash equivalents and restricted cash at end of period

33,468

22,936

20,442

Cash and cash equivalents

29,937

22,750

20,044

Restricted cash

3,531

186

398

Total cash, cash equivalents and restricted cash

33,468

22,936

20,442

Supplemental cash flow disclosures:

Interest paid

1,211

1,542

652

Income taxes paid, net of refunds

1,305

2,108

1,804

Operating cash flows from operating leases

11,081

10,922

10,364

Operating cash flows from finance leases

712

244

338

Supplemental non-cash activities:

Issuance of convertible redeemable preferred stock (related parties)

32,771

^[1],[2]

Convertible redeemable preferred stock dividends accrued but not yet paid

8,962

^[1]

16,270

^[1]

7,863

^[1]

Right-of-use assets obtained in exchange for finance lease liabilities

7,861

3,195

1,106

Settlement of restricted stock unit liability

1,895

2,762

1,718

Modification of operating right-of-use assets

1,216

292

Change in accounts payable and accrued expenses related to capital expenditures

653

1,130

1,162

Accrued debt issuance costs

559

Right-of-use assets obtained in exchange for new operating lease liabilities

$ 0

$ 1,211

$ 908

[1]

[2]

The convertible redeemable preferred stock issued in 2024 was initially recognized at fair value. The Company recorded the initial fair value, net of issuance costs, of $19.6 million within mezzanine equity and the remaining $13.0 million within additional paid-in capital on the Consolidated Balance Sheets. Refer to Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit), of the Notes to Consolidated Financial Statements.

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Examination [Line Items]
Income tax expense	$ 924	$ 1,533	$ 1,724
Current income tax expense	1,765	1,568	2,199
Current foreign, state and local tax expense	1,800
Deferred tax expense (benefit)	(841)	(35)	(475)
Income tax adjustment related to impairment of goodwill	17,200	20,900	12,700
Increase in valuation allowance	(2,500)	15,100	18,500
Income tax expense from permanent book and tax differences	900	700	2,600
Current tax expense related to foreign taxes	1,730	1,309	1,921
Deferred tax assets, valuation allowance	247,772	251,253	250,994
Liabilities for unrecognized tax benefit	800	700
Unrecognized tax benefits that would affect the effective tax rate	1,800	2,000	$ 2,000
Unrecognized tax benefits to be reversed in next year due expiration of statue of limitation	100
Unrecognized tax benefits, accrued interest and penalties	200	$ 200
Research & development credit carryforward
Income Tax Examination [Line Items]
Tax credit carryforward	3,100
Federal
Income Tax Examination [Line Items]
Operating loss carryforwards	539,000
Operating loss carryforwards, utilizable amount	436,200
State
Income Tax Examination [Line Items]
Operating loss carryforwards	1,500,000
Operating loss carryforwards, utilizable amount	1,300,000
Foreign
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 6,300

Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Total Debt Obligations

The Company's total debt obligations under the Credit Agreement as of December 31, 2024 are as follows:


(in thousands)	December 31, 2024
Secured term loan	$	45,000
Less: Unamortized debt discount and issuance costs	(3,832)
Total (1)	$	41,168

(1) The current portion of the Term Loan of $0.5 million is classified within other current liabilities in the Consolidated Balance Sheets as of December 31, 2024.

Schedule of Future Principal Payments for the Total Long-Term Debt

The information set forth below summarizes the required future principal payments on the Term Loan, by year, as of December 31, 2024:


	(In thousands)
2025	$	450
2026	2,250
2027	2,250
2028	40,050
Total	$	45,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

The Company has finance leases for computer equipment and operating leases for real estate. These leases have remaining lease terms of less than one year to five years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within two years. As of December 31, 2024, the weighted average remaining lease term for the Company's finance leases and operating leases was 2.3 years and 2.6 years, respectively. As of December 31, 2024, the weighted average discount rate for the Company's finance leases and operating leases was 9.4% and 11.0%, respectively.

The components of lease cost were as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Finance lease cost
Amortization of right-of-use assets	$	3,651	$	1,929	$	2,364
Interest on lease liabilities	712		244		338
Total finance lease cost	$	4,363	$	2,173	$	2,702

Operating lease cost
Fixed lease cost	$	8,248	$	9,231	$	11,174
Short-term lease cost	73		86		150
Variable lease cost	987		1,077		1,369
Sublease income	(1,647)		(2,001)		(2,572)
Total operating lease cost	$	7,661	$	8,393	$	10,121

Lease costs, net of sublease income, are reflected in the Consolidated Statements of Operations and Comprehensive Loss as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Amortization of right-of-use assets
Cost of revenues	$	3,411	$	574	$	1,747
Selling and marketing	98		629		263
Research and development	90		470		216
General and administrative	52		256		138
Total amortization of right-of-use assets	$	3,651	$	1,929	$	2,364

Operating lease cost
Cost of revenues	$	2,643	$	2,497	$	3,030
Selling and marketing	2,192		2,738		3,391
Research and development	1,787		2,044		2,382
General and administrative	1,039		1,114		1,318
Total operating lease cost	$	7,661	$	8,393	$	10,121

Maturities of operating and finance lease liabilities as of December 31, 2024 were as follows:


(In thousands)	Operating Leases		Finance Leases
2025	$	10,594	$	4,245
2026	10,014		3,885
2027	5,821		1,559
2028	183		—
2029	91		—

Total lease payments	26,703		9,689
Less: imputed interest	3,300		946

Total lease liabilities	23,403		8,743
Less: current lease liabilities	8,598		3,660
Total non-current lease liabilities	$	14,805	$	5,083

As of December 31, 2024, the Company has four subleases. One sublease has a non-cancelable term of less than one year. The remaining three subleases are non-cancelable and have remaining lease terms of one year to three years. None of these subleases contain any options to renew or terminate the sublease agreement. Future expected cash receipts from these subleases as of December 31, 2024 were as follows:


(In thousands)	Sublease Receipts
2025	$	2,018
2026	2,155
2027	1,145
2028 and thereafter	—

Total expected sublease receipts	$	5,318

Leases

The components of lease cost were as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Finance lease cost
Amortization of right-of-use assets	$	3,651	$	1,929	$	2,364
Interest on lease liabilities	712		244		338
Total finance lease cost	$	4,363	$	2,173	$	2,702

Operating lease cost
Fixed lease cost	$	8,248	$	9,231	$	11,174
Short-term lease cost	73		86		150
Variable lease cost	987		1,077		1,369
Sublease income	(1,647)		(2,001)		(2,572)
Total operating lease cost	$	7,661	$	8,393	$	10,121

Lease costs, net of sublease income, are reflected in the Consolidated Statements of Operations and Comprehensive Loss as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Amortization of right-of-use assets
Cost of revenues	$	3,411	$	574	$	1,747
Selling and marketing	98		629		263
Research and development	90		470		216
General and administrative	52		256		138
Total amortization of right-of-use assets	$	3,651	$	1,929	$	2,364

Operating lease cost
Cost of revenues	$	2,643	$	2,497	$	3,030
Selling and marketing	2,192		2,738		3,391
Research and development	1,787		2,044		2,382
General and administrative	1,039		1,114		1,318
Total operating lease cost	$	7,661	$	8,393	$	10,121

Maturities of operating and finance lease liabilities as of December 31, 2024 were as follows:


(In thousands)	Operating Leases		Finance Leases
2025	$	10,594	$	4,245
2026	10,014		3,885
2027	5,821		1,559
2028	183		—
2029	91		—

Total lease payments	26,703		9,689
Less: imputed interest	3,300		946

Total lease liabilities	23,403		8,743
Less: current lease liabilities	8,598		3,660
Total non-current lease liabilities	$	14,805	$	5,083


(In thousands)	Sublease Receipts
2025	$	2,018
2026	2,155
2027	1,145
2028 and thereafter	—

Total expected sublease receipts	$	5,318

Leases

The components of lease cost were as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Finance lease cost
Amortization of right-of-use assets	$	3,651	$	1,929	$	2,364
Interest on lease liabilities	712		244		338
Total finance lease cost	$	4,363	$	2,173	$	2,702

Operating lease cost
Fixed lease cost	$	8,248	$	9,231	$	11,174
Short-term lease cost	73		86		150
Variable lease cost	987		1,077		1,369
Sublease income	(1,647)		(2,001)		(2,572)
Total operating lease cost	$	7,661	$	8,393	$	10,121

Lease costs, net of sublease income, are reflected in the Consolidated Statements of Operations and Comprehensive Loss as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Amortization of right-of-use assets
Cost of revenues	$	3,411	$	574	$	1,747
Selling and marketing	98		629		263
Research and development	90		470		216
General and administrative	52		256		138
Total amortization of right-of-use assets	$	3,651	$	1,929	$	2,364

Operating lease cost
Cost of revenues	$	2,643	$	2,497	$	3,030
Selling and marketing	2,192		2,738		3,391
Research and development	1,787		2,044		2,382
General and administrative	1,039		1,114		1,318
Total operating lease cost	$	7,661	$	8,393	$	10,121

Maturities of operating and finance lease liabilities as of December 31, 2024 were as follows:


(In thousands)	Operating Leases		Finance Leases
2025	$	10,594	$	4,245
2026	10,014		3,885
2027	5,821		1,559
2028	183		—
2029	91		—

Total lease payments	26,703		9,689
Less: imputed interest	3,300		946

Total lease liabilities	23,403		8,743
Less: current lease liabilities	8,598		3,660
Total non-current lease liabilities	$	14,805	$	5,083


(In thousands)	Sublease Receipts
2025	$	2,018
2026	2,155
2027	1,145
2028 and thereafter	—

Total expected sublease receipts	$	5,318

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The Company tests goodwill for impairment annually during the fourth quarter as of October 1, or more frequently when events or changes in circumstances indicate that fair value is below carrying value. In the third quarter of 2024, the Company concluded that it was more likely than not that the estimated fair value of its reporting unit was less than its carrying value. In its assessment, the Company considered the decline in the Company's stock price, market and equity capitalization, operating results and projections. The fair value of the reporting unit was determined using a discounted cash flow model (a form of the income approach) utilizing Level 3 unobservable inputs, supported by a market approach. The Company relied in part on the work of an independent valuation firm engaged by the Company to provide inputs as to the fair value of the reporting unit and to assist in the related calculations and analysis. The Company's reporting unit did not pass the goodwill impairment test and as a result, the Company recorded a $63.0 million impairment charge during the three months ended September 30, 2024. No additional impairment indicators were identified during the fourth quarter of 2024.

In conjunction with its annual test as of October 1, 2023, the Company performed a quantitative goodwill impairment test as of September 30, 2023. In its assessment, the Company considered the decline in revenues in 2023 which drove lower revenue growth expectations in future years. The Company also considered the decline in the Company's stock price and market capitalization. The fair value of the reporting unit was determined using a discounted cash flow model (a form of the income approach) utilizing Level 3 unobservable inputs, supported by a market approach. The Company relied in part on the work of an independent valuation firm engaged by the Company to provide inputs as to

the fair value of the reporting unit and to assist in the related calculations and analysis. The Company's reporting unit did not pass the goodwill impairment test and as a result, the Company recorded a $34.1 million impairment charge during the three months ended December 31, 2023.

In the second quarter of 2023, the Company concluded that it was more likely than not that the estimated fair value of its reporting unit was less than its carrying value. In its assessment, the Company considered the decline in the Company's stock price and market capitalization, among other factors. The Company performed quantitative testing on its reporting unit using a discounted cash flow model (a form of the income approach) utilizing Level 3 unobservable inputs, supported by a market approach. The Company relied in part on the work of an independent valuation firm engaged by the Company to provide inputs as to the fair value of the reporting unit and to assist in the related calculations and analysis. The Company's reporting unit did not pass the goodwill impairment test, and as a result the Company recorded a $44.1 million impairment charge during the three months ended June 30, 2023.

In conjunction with its annual test as of October 1, 2022, the Company performed a quantitative goodwill impairment test as of September 30, 2022. In its assessment, the Company considered the decline in the Company's stock price and market capitalization, among other factors. The fair value of the reporting unit was determined using a discounted cash flow model (a form of the income approach) utilizing Level 3 unobservable inputs, supported by a market approach. The Company relied in part on the work of an independent valuation firm engaged by the Company to provide inputs as to the fair value of the reporting unit and to assist in the related calculations and analysis. The Company's reporting unit did not pass the goodwill impairment test and as a result, the Company recorded a $46.3 million impairment charge during the three months ended September 30, 2022.

The change in the carrying value of goodwill is as follows:


	(In thousands)
Balance as of December 31, 2022 (1)	$	387,973
Impairment charge	(78,200)
Translation adjustments	587
Balance as of December 31, 2023	$	310,360
Impairment charge	(63,000)
Translation adjustments	(1,350)
Balance as of December 31, 2024	$	246,010

(1) Goodwill balance is net of an accumulated impairment charge of $270.6 million as of December 31, 2022.

The carrying values of the Company's definite-lived intangible assets are as follows:


	As of				As of
	December 31, 2024				December 31, 2023
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired methodologies and technology	$	154,400	$	(151,982)	$	2,418	$	154,409	$	(150,783)	$	3,626
Customer relationships	46,529		(43,889)		2,640		46,623		(42,663)		3,960
Intellectual property	14,364		(14,364)		—		14,366		(14,076)		290
Acquired software	9,765		(9,765)		—		9,765		(9,526)		239
Panel	3,102		(3,102)		—		3,107		(3,107)		—
Trade names	739		(739)		—		750		(750)		—
Other	600		(600)		—		600		(600)		—
Total intangible assets	$	229,499	$	(224,441)	$	5,058	$	229,620	$	(221,505)	$	8,115

Amortization expense related to intangible assets was $3.1 million, $5.2 million, and $27.1 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Of the Company's definite-lived intangible assets, net, all were generated by or located in the United States as of December 31, 2024 and 2023.

The weighted-average remaining amortization period by major asset class as of December 31, 2024 is as follows:


			(In years)
Acquired methodologies and technology			2.0
Customer relationships			2.0

The estimated future amortization of intangible assets is as follows:


	(In thousands)
2025	$	2,529
2026	2,529



Thereafter	—
Total	$	5,058

Leases - Schedule of Future Expected Cash Receipts from Subleases (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 2,018
2026	2,155
2027	1,145
2028 and thereafter	0
Total expected sublease receipts	$ 5,318

Leases - Narrative (Details)	12 Months Ended
Leases - Narrative (Details)	Dec. 31, 2024 sublease
Lessee, Lease, Description [Line Items]
Lessee, operating lease, option to extend, term	5 years
Lessee, operating lease, option to terminate, term	2 years
Weighted-average remaining lease term - finance leases (in years)	2 years 3 months 18 days
Weighted-average remaining lease - operating leases (in years)	2 years 7 months 6 days
Weighted-average discount rate - finance leases	9.40%
Weighted-average discount rate - operating leases	11.00%
Number of real estate properties	4
Number of noncancelable short-term subleases	1
Remaining lease term for short-term sublease (less than)	1 year
Number of remaining noncancelable subleased properties	3
Remaining lease term for sublease (in years)	3 years
Number of subleases containing options to renew or terminate agreement	0
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	5 years

Leases - Schedule of Maturities of Finance and Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 10,594
2026	10,014
2027	5,821
2028	183
2029	91
Total lease payments	26,703
Less: imputed interest	3,300
Total lease liabilities	23,403
Less: current lease liabilities	8,598	$ 7,982
Total non-current lease liabilities	14,805	$ 23,003
Finance Leases
2025	4,245
2026	3,885
2027	1,559
2028	0
2029	0
Total lease payments	9,689
Less: imputed interest	946
Total lease liabilities	8,743
Less: current lease liabilities	3,660
Total non-current lease liabilities	$ 5,083

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

The components of loss before income tax provision are as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Domestic	$	(61,420)	$	(79,078)	$	(69,981)
Foreign	2,096		1,250		5,144
Total	$	(59,324)	$	(77,828)	$	(64,837)

Income tax provision is as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Current:
Federal	$	—	$	—	$	51
State	35		259		227
Foreign	1,730		1,309		1,921
Total	$	1,765	$	1,568	$	2,199
Deferred:
Federal	$	(60)	$	(128)	$	8
State	(359)		(687)		16
Foreign	(422)		780		(499)
Total	$	(841)	$	(35)	$	(475)
Income tax provision	$	924	$	1,533	$	1,724

A reconciliation of the statutory U.S. income tax rate to the effective income tax rate is as follows:


	Years Ended December 31,
	2024		2023		2022
Statutory federal tax rate	21.0	%	21.0	%	21.0	%
State taxes	0.5	%	0.4	%	(0.3)	%
Other nondeductible/nontaxable items	(0.8)	%	(0.5)	%	3.7	%

Foreign rate differences	(0.4)	%	(0.3)	%	(0.4)	%
Change in valuation allowance	(3.9)	%	(4.9)	%	(10.7)	%
Stock compensation	(0.3)	%	(0.1)	%	(2.3)	%
Executive compensation	—	%	—	%	(0.1)	%
Goodwill impairment	(17.6)	%	(16.6)	%	(11.8)	%

Other adjustments	—	%	(1.0)	%	(1.7)	%
Uncertain tax positions	(0.1)	%	—	%	(0.1)	%
Effective tax rate	(1.6)	%	(2.0)	%	(2.7)	%

Income Tax Provision

The Company recognized income tax expense of $0.9 million during the year ended December 31, 2024, which is comprised of current tax expense of $1.8 million related to foreign taxes and state taxes and deferred tax benefit of $0.8 million related to both U.S. and foreign taxes. Included in tax expense is an income tax adjustment of $17.2 million related to the impairment of goodwill. Also included in total tax expense is income tax benefit of $2.5 million for a decrease in the valuation allowance recorded against the Company's deferred tax assets to offset the tax expense of the Company's operating losses in the U.S. and certain foreign jurisdictions. Income tax expense of $0.9 million has also been included for permanent differences in the book and tax treatment of certain stock-based compensation, local statutory to U.S. GAAP adjustments and other nondeductible expenses. These tax adjustments, along with state and local taxes, are the primary drivers of the annual effective income tax rate.

The Company recognized income tax expense of $1.5 million during the year ended December 31, 2023, which is primarily comprised of current tax expense of $1.6 million related to foreign taxes and state taxes. Included in tax expense is an income tax adjustment of $20.9 million related to the impairment of goodwill. Also included in total tax expense is income tax expense of $15.1 million for an increase in the valuation allowance recorded against the Company's deferred tax assets to offset the tax benefit of the Company's operating losses in the U.S. Income tax expense of $0.7 million has also been included for permanent differences in the book and tax treatment of certain stock-based compensation, executive compensation and other nondeductible expenses. These tax adjustments, along with state and local taxes, are the primary drivers of the annual effective income tax rate.

The Company recognized income tax expense of $1.7 million during the year ended December 31, 2022, which is primarily comprised of current tax expense of $2.2 million related to foreign taxes and state taxes and a deferred tax benefit of $0.5 million related to temporary differences between the tax treatment and GAAP accounting treatment for certain items. Included in total tax expense is income tax benefit of $2.6 million for permanent differences in the book and tax treatment of nontaxable gain on fair market value adjustment of stock warrants, offset by certain nondeductible stock-based compensation and executive compensation. Also included in the total tax expense is an income tax adjustment of $12.7 million related to the impairment of goodwill. Income tax expense of $18.5 million has also been included for an increase in the valuation allowance recorded against the Company's deferred tax assets to offset the tax benefit of the Company's operating losses in the U.S. and certain foreign jurisdictions. These tax adjustments, along with state and local taxes and book losses in foreign jurisdictions where the income tax rate is substantially lower than the U.S. federal statutory rate, are the primary drivers of the annual effective income tax rate.

Deferred Income Taxes

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes. The components of net deferred income taxes are as follows:


	As of December 31,
(In thousands)	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	176,369	$	191,657
Lease liability	7,797		11,068
Deferred revenues	17,184		18,386
Deferred compensation	5,165		5,135
Accrued salaries and benefits	451		857
Tax credits	2,480		2,282
Tax contingencies	816		797
Allowance for doubtful accounts	103		112
Capital loss carryforwards	108		108

Property and equipment	4,735		—
Intangible assets	3,608		3,970
Capitalized research and development expense	34,815		25,693
Other	2,523		2,587
Gross deferred tax assets	$	256,154	$	262,652
Valuation allowance	(247,772)		(251,253)
Net deferred tax assets	$	8,382	$	11,399
Deferred tax liabilities:
Lease asset	$	(3,964)	$	(5,583)
Property and equipment	—		(824)

Subpart F income recapture	(1,411)		(1,384)
Goodwill	(1,274)		(2,341)

Total deferred tax liabilities	$	(6,649)	$	(10,132)
Net deferred tax asset	$	1,733	$	1,267

Tax Valuation Allowance

As of December 31, 2024 and 2023, the Company had a valuation allowance of $247.8 million and $251.3 million, respectively, against certain deferred tax assets. The valuation allowance relates to the deferred tax assets of the Company's U.S. entities, including federal and state tax attributes and timing differences, as well as the deferred tax assets of certain foreign subsidiaries. The decrease in the valuation allowance during 2024 is primarily due to the decrease in U.S. net operating loss carryforwards, net of the increase in capitalized R&E expenditures under Section 174. To the extent the Company determines that, based on the weight of available evidence, all or a portion of its valuation allowance is no longer necessary, the Company will recognize an income tax benefit in the period such determination is made for the reversal of the valuation allowance. If management determines that, based on the weight of available evidence, it is more-likely-than-not that all or a portion of the net deferred tax assets will not be realized, the Company may recognize income tax expense in the period such determination is made to increase the valuation allowance. It is possible that such reduction of or addition to the Company's valuation allowance may have a material impact on the Company's results from operations.

A summary of the deferred tax asset valuation allowance is as follows:


	As of December 31,
(In thousands)	2024		2023
Beginning Balance	$	251,253	$	250,994
Additions from continuing operations	121		844

Reductions	(3,602)		(585)
Ending Balance	$	247,772	$	251,253

Net Operating Loss and Credit Carryforwards

Under the provisions of Internal Revenue Code Section 382, certain substantial changes in the Company's ownership may result in a limitation on the amount of U.S. net operating loss carryforwards that can be utilized annually to offset future taxable income and taxes payable. During 2023, the Company concluded that the Transactions triggered an ownership change on May 10, 2021, and as a result, all of its U.S. net operating loss carryforwards are subject to an annual limitation under Section 382. Additionally, despite the net operating loss carryforwards, the Company may have a future income tax liability due to foreign income tax or state income tax requirements.

As of December 31, 2024, the Company had U.S. federal and state net operating loss carryforwards for tax purposes of $539.0 million and $1.5 billion, respectively. The Company estimates that $436.2 million of its U.S. federal and $1.3 billion of its state net operating loss carryforwards are utilizable given the annual limitations under Section 382. The Company's net operating loss carryforwards began to expire in 2025 for federal and 2026 for state income tax purposes. The federal and certain state net operating losses generated after December 31, 2017 have an indefinite carryforward period. As of December 31, 2024, the Company had an aggregate net operating loss carryforward for tax purposes related to its foreign subsidiaries of $6.3 million, which begins to expire in 2025.

As of December 31, 2024, the Company had research and development credit carryforwards of $3.1 million which begin to expire in 2025.

Foreign Undistributed Earnings

As of December 31, 2024, the Company has certain foreign subsidiaries with accumulated undistributed earnings. The TCJA allows for a dividend received deduction resulting in no material U.S. federal income tax upon repatriation of these earnings. The Company intends to indefinitely reinvest these earnings, as well as future earnings from its foreign subsidiaries, to fund its international operations and therefore has not accrued any related foreign withholding taxes or state income taxes.

Uncertain Tax Positions

For uncertain tax positions, the Company uses a more-likely-than-not recognition threshold based on the technical merits of the tax position taken. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefits determined on a cumulative probability basis, which are more likely than not to be realized upon ultimate settlement in the financial statements. The Company has unrecognized tax benefits, which are tax benefits related to uncertain tax positions which have been or will be reflected in income tax filings that have not been recognized in the financial statements due to potential adjustments by taxing authorities in the applicable jurisdictions. The Company's liability for unrecognized tax benefits, which include interest and penalties, was $0.8 million and $0.7 million for the years ended December 31, 2024 and 2023, respectively. The remaining unrecognized tax benefits have reduced deferred tax balances. The amount of unrecognized tax benefits that, if recognized, would affect the Company's effective tax rate is $1.8 million as of December 31, 2024 and $2.0 million as of December 31, 2023 and 2022, respectively. The amount of unrecognized tax benefits includes the federal tax benefit of state deductions. The Company anticipates $0.1 million of unrecognized tax benefits will reverse during the next year due to the expiration of statutes of limitation.

Changes in the Company's unrecognized income tax benefits are as follows:


	As of December 31,
(In thousands)	2024		2023		2022
Beginning balance	$	2,043	$	2,026	$	2,052
Increase related to tax positions of the current year	49		39		25

Increase related to tax positions of prior years	—		10		—
Decrease related to tax positions of prior years	(29)		(7)		(22)

Decrease due to lapse in statutes of limitations	(207)		(25)		(29)
Ending balance	$	1,856	$	2,043	$	2,026

The Company recognizes interest and penalties related to income tax matters in income tax expense. As of December 31, 2024 and 2023, accrued interest and penalties on unrecognized tax benefits were $0.2 million. The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. For income tax returns filed by the Company, the Company is generally no longer subject to U.S. federal examinations by tax authorities for years prior to 2021 or state and local tax examinations by tax authorities for years prior to 2020. The Company is no longer subject to examination by tax authorities in the Netherlands for years prior to 2018. However, tax attribute carryforwards may still be adjusted upon examination by tax authorities.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Debt

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Debt

Secured Credit Agreement

On December 31, 2024, the Company entered into a senior secured financing agreement (the "Credit Agreement") among the Company as borrower, certain of its subsidiaries as guarantors, Blue Torch Finance LLC as administrative agent and collateral agent (in such capacities, the "Agent"), and the lenders from time to time party thereto. The Credit Agreement has a term of four years and matures in December 2028.

The Credit Agreement provides a borrowing capacity of $60.0 million consisting of a $45.0 million term loan that was fully funded at closing (the "Term Loan") and a $15.0 million revolving credit facility that was unfunded at closing (the "Revolving Facility").

Borrowings under the Credit Agreement are made at the Adjusted Term SOFR rate or the Reference Rate (each as defined in the Credit Agreement) and bear interest at a rate per annum equal to (i) the Adjusted Term SOFR rate, subject to a 3.0% floor, plus an applicable margin of 7.0% or (ii) the Reference Rate, subject to a 4.0% floor, plus an applicable margin of 6.0%. The Credit Agreement also provides for an unused commitment fee equal to 1.0% per annum of the unused Revolving Facility commitments. To the extent that an event of default exists and is continuing, at the election of the Agent, all amounts outstanding under the Credit Agreement will bear interest at 2.0% per annum above the rate and margin otherwise applicable thereto. The Company elected the Adjusted Term SOFR rate for the Term Loan as of December 31, 2024. As of December 31, 2024, the stated interest rate on the Term Loan was 11.59%.

Except as described below, the Company can repay any amounts borrowed under the Revolving Facility prior to the maturity date without any premium or penalty other than customary SOFR breakage costs. Any voluntary or mandatory prepayments of the Term Loan (subject to customary exceptions for prepayments made with Excess Cash Flow (as defined in the Credit Agreement), the net cash proceeds of insurance and condemnation events, and the replacement of certain lenders in accordance with the Credit Agreement), as well as any payments of the Revolving Facility or the Term Loan in connection with an insolvency event, acceleration, other exercise of remedies or the early termination of the Credit Agreement, are subject to prepayment premiums as follows: (i) with respect to any such payment occurring on or before the first anniversary of the closing date, a 3.0% prepayment premium plus a make-whole amount based on U.S. Treasury notes yield, (ii) with respect to any such payment occurring after the first anniversary and on or before the second anniversary of the closing date, a 1.0% prepayment premium, and (iii) with respect to any such payment occurring after the second anniversary of the closing date, no prepayment premium.

The loans are required to be prepaid from time to time with the net cash proceeds of certain debt incurrences, equity issuances, asset sales and other dispositions, insurance and condemnation proceeds, tax refunds and other extraordinary receipts (subject to certain thresholds, exceptions and reinvestment rights). Additionally, beginning with the fiscal year ending December 31, 2025, the Company is required to prepay the loans annually with Excess Cash Flow at the following percentages: (i) if the Total Leverage Ratio (as defined in the Credit Agreement) is greater than 2.25:1.00, 75% of Excess Cash Flow, (ii) if the Total Leverage Ratio is equal to or less than 2.25:1.00 but greater than 1.75:1.00, 50% of Excess Cash Flow, (iii) if the Total Leverage Ratio is equal to or less than 1.75:1.00 but greater than 1.25:1.00, 25% of Excess Cash Flow, and (iv) if the Total Leverage Ratio is equal to or less than 1.25:1.00, 0% of Excess Cash Flow.

The Credit Agreement also contains the following financial covenants:

•a maximum Senior Leverage Ratio (as defined in the Credit Agreement) for the most recently ended four fiscal quarter period, not to exceed the level set forth in the Credit Agreement for the last day of such period, starting with the fiscal quarter ending March 31, 2025; and

•minimum Liquidity (as defined in the Credit Agreement) of $10.0 million at all times.

Additionally, the Credit Agreement contains restrictive covenants that limit the Company's ability to, among other things, incur additional indebtedness and liens, make investments and loans, enter into mergers and acquisitions, make or declare dividends and other payments, enter into certain contracts, sell assets and engage in transactions with affiliates. With respect to dividends, the Credit Agreement prohibits the payment of cash dividends to holders of the Company's Preferred Stock prior to April 1, 2026 and imposes certain limitations on cash dividends, including a heightened Liquidity requirement, on and after that date.

The Credit Agreement is subject to customary events of default, including a change in control. If an event of default occurs and is continuing, the Agent or the Required Lenders (as defined in the Credit Agreement) may accelerate any amounts outstanding and terminate lender commitments. The Credit Agreement is guaranteed by the Company and certain of its domestic subsidiaries and is secured by a first lien security interest in substantially all assets of the Company and such subsidiaries, as set forth in a pledge and security agreement dated December 31, 2024 (the "Security Agreement") among the Company, the guarantor subsidiaries and the Agent.

The Term Loan is recorded on the Consolidated Balance Sheet, net of debt issuance costs and debt discount. The debt issuance costs and debt discount associated with the Term Loan were capitalized and will be amortized through interest expense, net on the Consolidated Statements of Operations and Comprehensive Loss during the term of the Term Loan. As of December 31, 2024, the effective interest rate was 14.54%.

The Credit Agreement was evaluated for embedded derivative features by evaluating each feature against the nature of the host instrument. Features identified as embedded derivatives that are material are recognized separately as a derivative asset or liability in the financial statements. No embedded features were identified requiring bifurcation, other than the change of control feature. The Company reassesses whether a change in control is considered probable as of each reporting date. The change in control feature is not recorded on the Consolidated Balance Sheet as of December 31, 2024 because a change in control is not considered probable.

The Company's total debt obligations under the Credit Agreement as of December 31, 2024 are as follows:


(in thousands)	December 31, 2024
Secured term loan	$	45,000
Less: Unamortized debt discount and issuance costs	(3,832)
Total (1)	$	41,168

(1) The current portion of the Term Loan of $0.5 million is classified within other current liabilities in the Consolidated Balance Sheets as of December 31, 2024.

The information set forth below summarizes the required future principal payments on the Term Loan, by year, as of December 31, 2024:


	(In thousands)
2025	$	450
2026	2,250
2027	2,250
2028	40,050
Total	$	45,000

The debt issuance costs associated with the Revolving Facility are capitalized and recorded in other non-current assets in the Consolidated Balance Sheet. As of December 31, 2024, the Company had no borrowings outstanding under the Revolving Facility, with remaining borrowing capacity of $15.0 million.

Prior Credit Agreement

On May 5, 2021, the Company entered into a senior secured revolving credit agreement (the "Prior Credit Agreement") among the Company, as borrower, certain subsidiaries of the Company, as guarantors, Bank of America N.A., as administrative agent (in such capacity, the "Agent"), and the lenders from time to time party thereto.

The Prior Credit Agreement had an original borrowing capacity equal to $25.0 million and bore interest on borrowings at a Eurodollar Rate (as defined in the Prior Credit Agreement) that was based on LIBOR. The Company could also request the issuance of letters of credit under the

Prior Credit Agreement in an aggregate amount up to $5.0 million, which would reduce the amount of available borrowings by the amount of such issued and outstanding letters of credit. The facility originally had a maturity of three years from the closing date of the agreement.

On February 25, 2022, the Company entered into an amendment (the "2022 Amendment") to the Prior Credit Agreement to expand its aggregate borrowing capacity from $25.0 million to $40.0 million. The 2022 Amendment also replaced the Eurodollar Rate with a SOFR-based interest rate and modified the Applicable Rate definition in the Prior Credit Agreement to increase the Applicable Rate payable on SOFR-based loans to 2.50%. Finally, the 2022 Amendment modified certain financial covenants under the Prior Credit Agreement.

On February 24, 2023, the Company entered into an additional amendment (the "2023 Amendment") to the Prior Credit Agreement. Among other things, the 2023 Amendment (i) increased the minimum Consolidated EBITDA and Consolidated Asset Coverage Ratio financial covenant requirements under the Prior Credit Agreement, (ii) modified the measurement periods for certain financial covenants contained in the Prior Credit Agreement, (iii) introduced a minimum liquidity covenant, and (iv) modified the Applicable Rate definition in the Prior Credit Agreement to increase the Applicable Rate payable on SOFR-based loans to 3.50%.

On May 3, 2024, the Company entered into a third amendment (the "May 2024 Amendment") to the Prior Credit Agreement. Among other things, the May 2024 Amendment (i) extended the maturity date of the facility from May 5, 2024 to November 5, 2024; (ii) reduced the Company's aggregate borrowing capacity under the facility from $40.0 million to $25.0 million; (iii) increased the Applicable Rate payable on SOFR-based loans to 4.50%; (iv) increased the minimum Consolidated Asset Coverage Ratio covenant and decreased the minimum liquidity covenant; (v) limited certain Restricted Payments (as defined in the Prior Credit Agreement) with respect to the Company's equity interests; (vi) required a repayment of $6.0 million to reduce the principal amount outstanding under the Prior Credit Agreement; (vii) updated certain defined terms in the Prior Credit Agreement to reflect the May 2023 transfer of shares of Preferred Stock from Qurate to Liberty; and (viii) provided for certain amendment fees, including a fee of 2.0% of aggregate commitments due on the maturity date (November 5, 2024) unless all obligations were paid in full prior to such date.

On November 1, 2024, the Company repaid the outstanding principal balance of $10.0 million under the Prior Credit Agreement. On November 5, 2024, the Company entered into a fourth amendment (the "November 2024 Amendment") to the Prior Credit Agreement to extend the maturity date with respect to the outstanding letters of credit under the facility to January 31, 2025. The November 2024 Amendment reduced the aggregate lender commitments under the Prior Credit Agreement to equal the outstanding letters of credit (totaling $3.2 million) and limited the purpose of, and use of proceeds under, the Prior Credit Agreement to the issuance of letters of credit.

Additionally, the November 2024 Amendment terminated the following financial covenants: (i) the minimum Consolidated Fixed Charge Coverage Ratio, (ii) the minimum Consolidated Asset Coverage Ratio, and (iii) the minimum Liquidity requirement, each as defined in the Prior Credit Agreement. The November 2024 Amendment maintained the same non-financial covenants, security interest and interest rate as in effect immediately prior to the November 2024 Amendment. Finally, the November 2024 Amendment provided for certain amendment fees, including a fee of $250,000 due on the new maturity date (January 31, 2025) unless all letters of credit were terminated or cash collateralized on or prior to such date.

The Prior Credit Agreement contained restrictive covenants that limited the Company's ability to, among other things, incur additional indebtedness or liens, make investments and loans, enter into mergers and acquisitions, make or declare dividends and other payments, enter into certain contracts, sell assets and engage in transactions with affiliates. The Prior Credit Agreement was also subject to customary events of default, including a change in control.

The Prior Credit Agreement was guaranteed by the Company and its domestic subsidiaries (other than Excluded Subsidiaries (as defined in the Prior Credit Agreement)) and was secured by a first lien security interest in substantially all assets of the Company and its domestic subsidiaries (other than Excluded Subsidiaries), subject to certain customary exclusions.

On December 31, 2024, the Company terminated the Prior Credit Agreement. The Company used a portion of proceeds from the Term Loan to cash collateralize certain letters of credit that were outstanding under the Prior Credit Agreement. The Company had no borrowings outstanding under the Prior Credit Agreement on the termination date, and no early termination penalties were incurred by the Company in connection with the termination.

Income Taxes - Schedule of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 0	$ 0	$ 51
State	35	259	227
Foreign	1,730	1,309	1,921
Total	1,765	1,568	2,199
Deferred:
Federal	(60)	(128)	8
State	(359)	(687)	16
Foreign	(422)	780	(499)
Total	(841)	(35)	(475)
Income tax provision	$ 924	$ 1,533	$ 1,724

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Disaggregation of Revenue [Line Items]

Total

^[1]

$ 356,047

$ 371,343

$ 376,423

Products and services transferred over time

Disaggregation of Revenue [Line Items]

Total

308,613

315,093

312,723

Products and services transferred at a point in time

Disaggregation of Revenue [Line Items]

Total

47,434

56,250

63,700

United States

Disaggregation of Revenue [Line Items]

Total

318,364

335,785

337,862

Europe

Disaggregation of Revenue [Line Items]

Total

21,264

18,738

19,007

Latin America

Disaggregation of Revenue [Line Items]

Total

6,896

6,986

7,843

Canada

Disaggregation of Revenue [Line Items]

Total

5,577

5,666

7,604

Other

Disaggregation of Revenue [Line Items]

Total

3,946

4,168

4,107

Total Content & Ad Measurement

Disaggregation of Revenue [Line Items]

Total

301,124

309,904

307,479

Syndicated Audience

Disaggregation of Revenue [Line Items]

Total

260,654

276,101

282,238

Cross-Platform

Disaggregation of Revenue [Line Items]

Total

40,470

33,803

25,241

Research & Insight Solutions

Disaggregation of Revenue [Line Items]

Total

$ 54,923

$ 61,439

$ 68,944

[1]

Transactions with related parties are included in the line items above as follows (refer to Footnote 13, Related Party Transactions, for further information):


	Years Ended December 31,
	2024		2023		2022
Revenues	$	10,217	$	11,420	$	14,934
Cost of revenues	30,450		29,265		26,971
Convertible redeemable preferred stock dividends	(17,600)		(16,270)		(15,513)

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Accrued data costs	$ 20,835	$ 15,529
Payroll and payroll-related	8,566	10,604
Professional fees	2,360	2,203
Restructuring accrual	342	1,630
Other	2,910	4,456
Total accrued expenses	$ 35,013	$ 34,422

Revenue Recognition - Schedule of Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Millions	Dec. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue, remaining performance obligation	$ 240
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue, remaining performance obligation, percentage	53.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue, remaining performance obligation, percentage	30.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue, remaining performance obligation, expected timing of satisfaction, period

Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit)

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit)

2021 Issuance of Preferred Stock

On March 10, 2021 (the "Closing Date"), the Company entered into separate Securities Purchase Agreements with each of Charter Communications Holding Company, LLC ("Charter"), Qurate Retail, Inc. ("Qurate") and Pine Investor, LLC ("Pine") (the "Securities Purchase Agreements"). The issuance of securities pursuant to the Securities Purchase Agreements (the "Transactions") and related matters were approved by the Company's stockholders on March 9, 2021 and completed on March 10, 2021. At the closing of the Transactions, the Company issued and sold (a) to Charter, 27,509,203 shares of Preferred Stock in exchange for $68.0 million, (b) to Qurate, 27,509,203 shares of Preferred Stock in exchange for $68.0 million and (c) to Pine, 27,509,203 shares of Preferred Stock in exchange for $68.0 million. The shares were issued at a par value of $0.001. Net proceeds from the Transactions totaled $187.9 million after deducting issuance costs.

On May 16, 2023, Qurate sold 27,509,203 shares of Preferred Stock to Liberty Broadband Corporation ("Liberty") in a privately negotiated transaction.

At the annual meeting of stockholders of the Company held on June 15, 2023 (the "Annual Meeting"), the Company's stockholders approved proposals permitting the payment of annual dividends on the Preferred Stock in the form of cash, shares of Common Stock, additional shares of Preferred Stock, or a combination thereof, subject to conditions set forth in the Certificate of Designations governing the Preferred Stock. On the same date, each holder of Preferred Stock waived its right to receive on June 30, 2023 the annual dividends otherwise payable by the Company on that date (the "June 2023 Waivers"). Upon receipt of the June 2023 Waivers, the Company's Board elected to defer the June 30, 2023 payment. Under the June 2023 Waivers and the Certificate of Designations, the deferred dividends would accrue and accumulate at a rate of 9.5% per year from June 30, 2023 until declared and paid, with payment to occur on or before December 31, 2023.

On December 26, 2023, each holder of Preferred Stock waived its right to receive the deferred dividends on or before December 31, 2023 (the "December Waivers"). Under the December Waivers and the Certificate of Designations, the deferred dividends would continue to accrue at a rate of 9.5% per year until declared and paid, with payment to occur on or before June 30, 2024.

On June 27, 2024, each holder of Preferred Stock further waived its right to receive the deferred dividends on or before June 30, 2024 (the "June 2024 Waivers"). In addition, each holder waived its right to receive on June 30, 2024 the annual dividends otherwise payable on that date for the dividend period ending June 29, 2024. Under the June 2024 Waivers and the Certificate of Designations, the deferred dividends for both periods (2023 and 2024) would continue to accrue and accumulate at a rate of 9.5% per year until declared and paid, with payment to occur on or before July 31, 2024.

2024 Issuance of Preferred Stock

On July 24, 2024 (the "2024 Issuance Date"), the Company issued 13,257,294 shares of Preferred Stock to the existing holders of Preferred Stock in exchange for cancellation of the Company's obligation to pay the deferred dividends totaling $32.8 million to such holders for annual dividend periods ended in 2023 and 2024. As of the 2024 Issuance Date, the additional shares of Preferred Stock were convertible into 662,862 shares of the Company's Common Stock, representing an effective conversion price of $49.438 per share for the canceled dividend obligation.

The additional shares of Preferred Stock have the same terms and conditions as the Preferred Stock previously issued by the Company, including that holders are entitled to cumulative dividends at a rate of 7.5% per annum, payable annually in arrears and subject to increase under certain circumstances.

In connection with the issuance, the Company and the holders of Preferred Stock also entered into an amendment to the Stockholders Agreement. Among other things, the amendment reduced the $100.0 million Special Dividend threshold set forth in the Stockholders Agreement by an amount equal to the liquidation preference of the additional shares of Preferred Stock ($32.8 million). After further reducing the threshold by annual dividends paid in prior years, the current Special Dividend threshold is $47.0 million.

For purposes of the Consolidated Financial Statements, the 2024 issuance of Preferred Stock was deemed to be a payment of the deferred dividends in the form of Preferred Stock, and the cancellation of the deferred dividend balance constituted an extinguishment of the liability. For extinguishments of a liability, the difference between the requisition price and the net carrying amount of the liability being extinguished should be recognized as a gain or loss when the liability is extinguished. Therefore, the Company estimated the fair value using a binomial lattice model, a form of the income approach, utilizing Level 3 unobservable inputs. The Company used significant inputs and assumptions which included the price and expected volatility of the Common Stock, risk-adjusted discount rate, risk-free rate, expected term, deferred dividends and the timing and probability of a Special Dividend being called and paid as of the 2024 Issuance Date. The Company recorded the fair value of the additional shares of Preferred Stock, net of issuance costs of $19.6 million within mezzanine equity. The remaining $13.0 million of the cancelled dividend balance was recognized in additional paid-in capital on the Consolidated Balance Sheet, because gains in transactions with related parties are recognized as equity contributions.

The Preferred Stock and related agreements include the following rights:

Registration Rights

On the Closing Date, the Company entered into a Registration Rights Agreement (the "RRA") with the holders of the Preferred Stock (together with any other party that may become a party to the RRA), pursuant to which, among other things, and on the terms and subject to certain limitations set forth therein, the Company was obligated to file a registration statement registering the sale or distribution of shares of Preferred

Stock or Common Stock held by any holder, including any shares of Common Stock acquired by any holder pursuant to the conversion of the Preferred Stock, and any other securities issued or issuable with respect to any such shares of Common Stock or Preferred Stock by way of share split, share dividend, distribution, recapitalization, merger, exchange, replacement or similar event or otherwise (the "Registrable Securities"). In addition, pursuant to the RRA, the holders have the right to require the Company, subject to certain limitations, to effect a sale of any or all of their Registrable Securities by means of an underwritten offering or an underwritten block trade or bought deal.

On August 30, 2021, the Company filed a registration statement on Form S-3 with respect to the Registrable Securities. The registration statement on Form S-3 became effective on September 21, 2021. The Company is obligated to file an additional registration statement with respect to the shares of Preferred Stock issued in 2024 (and the shares of Common Stock issuable upon conversion of such Preferred Stock) in accordance with the terms of the RRA and plans to file that registration statement in 2025.

Voting Rights

The holders of the Preferred Stock are entitled to vote as a single class with the holders of the Common Stock, with a vote equal to the number of shares of Common Stock into which the Preferred Stock could be converted, except that the conversion rate for this purpose will be equal to the product of the applicable conversion factor and 0.98091271. Each holder of Preferred Stock is subject to a voting threshold, which limits such holder's voting rights in the event that the holder's Preferred Stock represents voting rights that exceed 16.66% of the Company's Common Stock (including the Preferred Stock on an as-converted basis).

Dividend Rights

The holders of Preferred Stock are entitled to participate in all dividends declared on the Common Stock on an as-converted basis and are also entitled to a cumulative dividend at the rate of 7.5% per annum, payable annually in arrears (on June 30 of each year) and subject to increase under certain specified circumstances. The annual dividend accrues on a daily basis from and including the issuance date of such shares, whether or not declared. In the event the annual dividends are not paid on the annual payment date, the dividends otherwise payable on such date shall continue to accrue and cumulate at a rate of 9.5% per annum, until such failure is cured.

In addition, the holders of Preferred Stock are entitled to request, and the Company will take all actions reasonably necessary to pay, a one-time dividend ("Special Dividend") equal to the highest dividend that the Company's Board determines can be paid at the applicable time (or a lesser amount agreed upon by the holders), subject to additional conditions and limitations set forth in a Stockholders Agreement entered into by the Company and the holders on the Closing Date (the "Stockholders Agreement"). As set forth in the Stockholders Agreement, the Company may be obligated to obtain debt financing in order to effectuate the Special Dividend.

On June 30, 2022, in accordance with the Certificate of Designations, the Company paid cash dividends totaling $15.5 million to the holders of the Preferred Stock, representing dividends accrued for the period from June 30, 2021 through June 29, 2022. On July 24, 2024, the Company issued 13,257,294 shares of Preferred Stock to cancel $32.8 million of accrued dividends as described above. As of December 31, 2024, accumulated dividends paid totaled $20.3 million.

Anti-Dilution Adjustments

The Preferred Stock is subject to anti-dilution adjustment upon the occurrence of certain events, including issuance of certain dividends or distributions to holders of Common Stock, split or combination of Common Stock, reclassification of Common Stock into a greater or lesser number of shares, or certain repurchases of Common Stock, subject to limitations set forth in the Certificate of Designations.

Liquidation Preference and Change of Control Provisions

The Preferred Stock ranks senior to the Common Stock with respect to dividend rights and rights on the distribution of assets in the event of a liquidation, dissolution or winding up of the affairs of the Company, and ranks junior to secured and unsecured indebtedness. The Preferred Stock has a liquidation preference equal to the higher of (i) the initial purchase price, increased by accrued dividends per share, and (ii) the amount per share of Preferred Stock that a holder would have received if such holder, immediately prior to such liquidation, dissolution or winding up of the affairs of the Company, converted such share into Common Stock.

The Preferred Stock includes a change of control put option which allows the holders of the Preferred Stock to require the Company to repurchase such holders' shares at a purchase price equal to the initial purchase price, increased by accrued dividends. The change of control put option was determined to be a derivative liability under ASC 815, Derivatives and Hedging. As of December 31, 2024, the probability of a change of control was determined to be remote, and the fair value of the change of control derivative was determined to be negligible. To the extent the holders of the Preferred Stock do not exercise the put option in a covered change of control, the Company has the right to redeem the remaining Preferred Stock at a redemption price equal to the initial purchase price, increased by accrued dividends.

As described above, the Preferred Stock is contingently redeemable upon certain deemed liquidation events, such as a change in control. Because a deemed liquidation event could constitute a redemption event outside of the Company's control, all shares of Preferred Stock have been presented outside of permanent equity in mezzanine equity on the Consolidated Balance Sheets.

Conversion Provisions

The Preferred Stock is convertible at the option of the holders at any time into a number of shares of Common Stock based on a conversion rate set in accordance with the Certificate of Designations of the Preferred Stock. The conversion rate is calculated as the product of (i) the conversion factor and (ii) the quotient of (A) the sum of the initial purchase price and accrued dividends with respect to each share of Preferred

Stock divided by (B) the initial purchase price. The conversion right is subject to certain anti-dilution adjustments and customary provisions related to partial dividend periods. Due to the Reverse Stock Split effected on December 20, 2023, the conversion factor was adjusted to 0.05 pursuant to the Certificate of Designations of the Preferred Stock. As of December 31, 2024, each share of Preferred Stock was convertible into 0.051892 shares of Common Stock, with such assumed conversion rate scheduled to return to 0.05 upon payment of accrued dividends.

At any time after the fifth anniversary of the Closing Date, the Company may elect to convert all of the outstanding shares of Preferred Stock into shares of Common Stock if (i) the closing sale price of the Company's Common Stock is greater than 140% of the conversion price as of such time, as may be adjusted pursuant to the Certificate of Designations, for certain periods, and (ii) the pro rata share of an aggregate of $100.0 million in dividends has been paid with respect to each share of Preferred Stock that was outstanding on the Closing Date and remains outstanding.

As of December 31, 2024, no shares of Preferred Stock have been converted into Common Stock, and accrued dividends for the Preferred Stock totaled $9.0 million.

2019 Issuance and Sale of Common Stock and Warrants

On June 23, 2019, the Company entered into a Securities Purchase Agreement with CVI Investments, Inc. ("CVI"), pursuant to which CVI agreed to purchase (i) 136,425 shares of Common Stock (the "Initial Shares"), at a price of $146.60 per share and (ii) Series A Warrants, Series B-1 Warrants, Series B-2 Warrants and Series C Warrants, for aggregate gross proceeds of $20.0 million (the "Private Placement"). The Private Placement closed on June 26, 2019 (the "CVI Closing Date"). The Series B-1 Warrants and Series B-2 Warrants expired in 2020.

The Series C Warrants were exercised on October 10, 2019. As a result of this exercise, the Company issued 136,425 shares of Common Stock to CVI on October 14, 2019. In addition, the number of shares issuable under the Series A Warrants was increased by 136,425.

The Series A Warrants were exercisable by the holders for a period of five years from the CVI Closing Date and were exercisable into 272,851 shares of Common Stock, equal to the Initial Shares plus the number of shares issued pursuant to the exercise of the Series C Warrants (described above), at an adjusted exercise price equal to $15.83. The Series A Warrants expired on June 26, 2024.

2013 Stock Option/Issuance Plan

On December 16, 2021, the Company assumed certain equity awards outstanding under the Shareablee, Inc. 2013 Stock Option/Stock Issuance Plan (the "2013 Plan") in connection with the acquisition of Shareablee. The Company registered the securities issuable under the 2013 Plan with the SEC on December 23, 2021. The 2013 Plan expired on June 21, 2023. As a result, there are no shares remaining available for future equity awards under the 2013 Plan as of December 31, 2024.

2018 Equity and Incentive Compensation Plan

The Company's stockholders approved the 2018 Equity and Incentive Compensation Plan (the "2018 Plan") at the Company's 2018 Annual Meeting, approved an amendment and restatement of the 2018 Plan at the Company's 2020 Annual Meeting, and approved further amendments of the 2018 Plan at the Company's 2022, 2023 and 2024 Annual Meetings. Under the 2018 Plan, as amended, the Company may grant option rights, appreciation rights, restricted stock awards, restricted stock units, performance shares and performance units up to 2,792,500 shares of Common Stock. The aggregate number of shares of Common Stock available will be reduced by: (i) one share of Common Stock for every one share of Common Stock subject to an award of option rights or appreciation rights granted under the 2018 Plan and (ii) two shares of Common Stock for every one share of Common Stock subject to an award other than option rights or appreciation rights granted under the 2018 Plan. If any award granted under the 2018 Plan (in whole or in part) is canceled or forfeited, expires, is settled in cash, or is unearned, the shares of Common Stock subject to such award will, to the extent of such cancellation, forfeiture, expiration, cash settlement, or unearned amount, again be available at a rate of one share of Common Stock for every one share of Common Stock subject to awards of option rights or appreciation rights and two shares of Common Stock for every one share of Common Stock subject to awards other than of option rights or appreciation rights. The Company registered the securities under the 2018 Plan with the SEC effective June 1, 2018. The maximum number of shares available for future issuance under the 2018 Plan as of December 31, 2024 (excluding outstanding awards) is 837,438.

Stock Options

The Company's Compensation Committee (or Board of Directors, as applicable) approved and awarded 47,400 options for the year ended December 31, 2022 under the 2018 Plan to employees. No options were approved and awarded for the years ended December 31, 2024 and 2023 under the 2018 Plan.

The fair values of options at the date of grant, or when assumed by the Company, were estimated using the Black-Scholes option pricing model utilizing the following assumptions:


	Year Ended December 31,
		2022
Dividend yield (1)		0.0%
Expected volatility (2)		68.2% - 69.2%
Risk-free interest rate (3)		3.2% - 4.2%
Expected life of options (in years) (4)		6.18 - 6.25

(1) The Company has never declared or paid a cash dividend on its Common Stock and has no plans to pay cash dividends on Common Stock in the foreseeable future.

(2) Volatility is a measure of the amount by which a financial variable such as a share price has fluctuated (historical volatility) or is expected to fluctuate (expected volatility) during a period. The Company considered the historical volatility of its stock price over a term similar to the expected life of the options in determining expected volatility.

(3) The Company used rates on the grant date of zero-coupon government bonds with maturities over periods covering the term of the awards.

(4) This is the period of time that the options granted are expected to remain outstanding. Options under the Company's plans generally have a contractual term of 10 years and generally must be exercised within 30 to 90 days following termination of service.

A summary of options granted, exercised, forfeited and expired during the years ended December 31, 2024, 2023 and 2022 is included below:


	Number of Shares	Weighted-Average Exercise Price
Options outstanding as of December 31, 2021	89,152	$	89.00
Options granted	47,400	50.00
Options exercised	(4,848)	27.00
Options forfeited	(3,114)	146.60
Options expired	(14,391)	291.40
Options outstanding as of December 31, 2022	114,199	$	48.40

Options exercised	(150)	18.20
Options forfeited	(760)	26.64
Options expired	(4,626)	96.42
Options outstanding as of December 31, 2023	108,663	$	46.56

Options exercised	(33)	18.20
Options forfeited	(887)	22.53
Options expired	(8,274)	102.19
Options outstanding as of December 31, 2024	99,469	$	42.15
Options exercisable as of December 31, 2024	75,269	$	39.83

The following table summarizes information about options outstanding, and exercisable, as of December 31, 2024:


	Options Outstanding				Options Exercisable
Range of Exercise Prices	Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Options Exercisable	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
$11.40 - $50.00	84,304	$	38.14	6.04	60,104	$	33.62	5.39
$64.20 - $87.20	15,165	64.45		4.87	15,165	64.45		4.87

	99,469	$	42.15	5.86	75,269	$	39.83	5.28

The intrinsic value of exercised stock options is calculated based on the difference between the exercise price and the quoted market price of the Company's Common Stock as of the close of the exercise date. The aggregate intrinsic value for options exercised was zero, zero and $0.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. The aggregate intrinsic value for all options exercisable was zero, zero and $0.1 million under the Company's stock plans as of December 31, 2024, 2023 and 2022, respectively. The aggregate intrinsic value for all options outstanding was zero, zero and $0.1 million under the Company's stock plans as of December 31, 2024, 2023 and 2022, respectively.

As of December 31, 2024, the total unrecognized compensation expense related to outstanding, but not yet exercisable, options is $0.4 million, which the Company expects to recognize over a weighted-average vesting period of approximately 1.5 years.

Stock Awards

The Company's outstanding stock awards are comprised of RSUs, including time-based, performance-based and market-based RSUs.

During 2024, the Company's Compensation Committee (or Board of Directors, as applicable) approved and awarded 229,795 time-based RSUs (of which 119,720 RSUs related to the settlement of an accrued 2023 annual incentive plan liability and vested immediately) under the 2018 Plan to employees and directors of the Company. No market-based RSUs were awarded for the year ended December 31, 2024.

During 2023, the Company's Compensation Committee (or Board of Directors, as applicable) approved and awarded 234,171 time-based RSUs (of which 136,525 RSUs related to the settlement of an accrued 2022 annual incentive plan liability and vested immediately) under the 2018 Plan and the 2013 Plan to employees and directors of the Company. No market-based RSUs were awarded for the year ended December 31, 2023.

During 2022, the Company's Compensation Committee (or Board of Directors, as applicable) approved and awarded 86,929 time-based RSUs (of which 33,965 RSUs related to the settlement of an accrued 2021 annual incentive plan liability and vested immediately) and 31,000 market-based RSUs under the 2018 Plan to employees and directors of the Company. The market-based RSUs vest over 10 years and are contingent on certain stock-price hurdles.

A summary of the stock awards granted, vested and forfeited during the years ended December 31, 2024, 2023 and 2022 is presented as follows. RSU awards with undelivered shares are classified as unvested until the date of delivery of the shares.


	Restricted Stock Units	Weighted Average Grant-Date Fair Value
Unvested as of December 31, 2021	201,511	$	75.20
Granted	117,929	40.80

Vested	(74,656)	80.20
Forfeited	(12,554)	120.80
Unvested as of December 31, 2022	232,230	$	53.80
Granted	234,171	19.08

Vested	(152,422)	23.11
Forfeited	(255)	47.60
Unvested as of December 31, 2023	313,724	$	42.38
Granted	229,795	15.19
Vested	(140,901)	20.68
Forfeited	(20,987)	49.68
Unvested as of December 31, 2024	381,631	$	33.62

The aggregate intrinsic value for all unvested RSUs outstanding was $2.2 million, $5.2 million, and $5.4 million as of December 31, 2024, 2023, and 2022, respectively.

As of December 31, 2024, total unrecognized compensation expense related to unvested RSUs was $1.4 million, which the Company expects to recognize over a weighted-average vesting period of approximately 2.5 years.

Fair Value Measurements - Schedule of Valuation Techniques of Level 3 Liabilities (Details) - Level 3 - Warrants Liability - Option Pricing Model	Dec. 31, 2023 $ / shares yr
Stock price
Fair Value Measurement Inputs and Valuation Techniques
Warrants liability, measurement input	16.70
Exercise price
Fair Value Measurement Inputs and Valuation Techniques
Warrants liability, measurement input	20.20
Volatility
Fair Value Measurement Inputs and Valuation Techniques
Warrants liability, measurement input	0.750
Term
Fair Value Measurement Inputs and Valuation Techniques
Warrants liability, measurement input \| yr	0.49
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques
Warrants liability, measurement input	0.053

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net loss	$ (60,248)	$ (79,361)	$ (66,561)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2025	Dec. 31, 2024
Loss Contingencies [Line Items]
Total		$ 150,867
Subsequent event
Loss Contingencies [Line Items]
Sales tax assessment	$ 8,000
Minimum
Loss Contingencies [Line Items]
Agreement term (in years)		1 year
Maximum
Loss Contingencies [Line Items]
Agreement term (in years)		6 years
Set-top Box
Loss Contingencies [Line Items]
Purchase obligation		$ 125,500
Total		$ 108,800
Contractual term		7 years
Smart Television Data
Loss Contingencies [Line Items]
Purchase obligation		$ 25,400

Organizational Restructuring - Schedule of Costs Incurred Related to the Restructuring Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Total restructuring	$ 1,027	$ 6,234	$ 5,810
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Total restructuring	788	5,464	4,578
Other
Restructuring Cost and Reserve [Line Items]
Total restructuring	$ 239	$ 770	$ 1,232

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Property and Equipment - Schedule of Property and Equipment Under Capital Lease Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Finance leases	$ 20,974	$ 13,113
Total property and equipment	226,301	203,341
Less: accumulated depreciation and amortization (including software license arrangements of $1,365 in 2024 and $1,350 in 2023)	(179,185)	(161,767)
Total property and equipment, net	47,116	41,574
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	59,572	65,975
Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	117,863	95,094
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,656	15,571
Computer software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,082	8,402
Software license arrangements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,365	1,365
Less: accumulated depreciation and amortization (including software license arrangements of $1,365 in 2024 and $1,350 in 2023)	(1,365)	(1,350)
Office equipment, furniture, and other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,154	$ 5,186

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Financial Information that is Presented to the CODM

The following table presents financial information that is presented to the CODM with respect to the Company's single operating segment for the years ended December 31, 2024, 2023 and 2022:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Revenues
Content & Ad Measurement	$	301,124	$	309,904	$	307,479
Syndicated Audience	260,654		276,101		282,238
Cross Platform	40,470		33,803		25,241
Research & Insight Solutions	54,923		61,439		68,944
Total revenues	$	356,047	$	371,343	$	376,423

Cost of goods sold	136,831		137,722		137,163

Operating expenses
Compensation	$	125,946	$	133,934	$	146,313
Professional fees	20,693		22,095		22,042
Facilities & office expense	10,263		11,034		12,915
Software licenses, maintenance and systems	12,498		12,576		12,770
Travel & entertainment	2,075		1,940		1,536
Other operating expenses	5,379		8,011		6,216
Total operating expenses	$	176,854	$	189,590	$	201,792

Depreciation & amortization	$	28,795	$	26,920	$	46,288
Stock-based compensation	3,191		4,535		8,178
Non-recurring expenses (income)	846		1,740		(5,646)
Restructuring & transformation	2,574		7,517		6,270
Impairment	64,397		79,702		46,300
Interest expense, net	1,883		1,445		915
Taxes	924		1,533		1,724
Net loss	$	(60,248)	$	(79,361)	$	(66,561)

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Related Party Transactions

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


	Years Ended December 31,
(In thousands)	2024		2023		2022
Revenues	$	6,953	$	8,281	$	11,677
Cost of revenues	8,781		9,350		9,391

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


	As of December 31,
(In thousands)	2024		2023
Assets
Accounts receivable, net	$	687	$	525

Liabilities
Accounts payable	$	1,987	$	1,673
Accrued expenses	199		399
Contract liabilities	384		1,447

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


	Years Ended December 31,
(In thousands)	2024		2023		2022
Revenues	$	2,045	$	2,001	$	2,262
Cost of revenues	21,669		19,914		17,580

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


	As of December 31,
(In thousands)	2024		2023
Accounts payable	$	83	$	10,323
Accrued expenses	8,389		3,382
Non-current portion of accrued data costs	22,031		21,908

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	McLean, Virginia

Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit) - Schedule of Weighted-Average Assumptions (Details) - Stock Options	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Dividend yield		0.00%
Expected volatility, minimum		68.20%
Expected volatility, maximum		69.20%
Risk-free interest rate, minimum		3.20%
Risk-free interest rate, maximum		4.20%
Plan term (in years)	10 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Expected life of options (in years)		6 years 2 months 4 days
Exercise period following termination	30 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Expected life of options (in years)		6 years 3 months
Exercise period following termination	90 days

Segment Information - Narrative (Details)	12 Months Ended
Segment Information - Narrative (Details)	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	1

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Sep. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$ 63,000	$ 34,100	$ 44,100	$ 46,300	$ 63,000	$ 78,200	$ 46,300
Amortization of intangible assets					$ 3,057	$ 5,213	$ 27,096

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Fair Value Measurements

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements on a Recurring Basis

The Company's financial instruments measured at fair value in its Consolidated Balance Sheets on a recurring basis consist of the following:


	As of								As of
	December 31, 2024								December 31, 2023
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total



Liabilities
Contingent consideration liability (1)	$	—	$	1,191	$	—	$	1,191	$	—	$	4,806	$	—	$	4,806
Warrants liability (2)	—		—		—		—		—		—		669		669
Total	$	—	$	1,191	$	—	$	1,191	$	—	$	4,806	$	669	$	5,475

(1) The contingent consideration was recognized as part of the 2021 Shareablee acquisition. In April 2022, the contingency was resolved and the full amount was deemed payable. Refer to Footnote 2, Summary of Significant Accounting Policies. In December 2024, the Company elected to settle the third and final installment in cash, which was paid in 2025. As a result, the fair value of this liability as of December 31, 2024 is equal to the payment due. The fair value of this liability as of December 31, 2023 is derived from a technique which utilizes market-corroborated inputs that result in classification as a Level 2 fair value measurement as of such date. The contingent consideration liability is classified within other current liabilities in the Consolidated Balance Sheets as of December 31, 2024 and December 31, 2023.

(2) The fair value of this liability was derived from a technique which utilized inputs, certain of which were significant and unobservable, that resulted in classification as a Level 3 fair value measurement. Warrants liability included only the Series A Warrants as of December 31, 2023. Warrants liability was classified within other current liabilities on the Consolidated Balance Sheets. The Series A Warrants expired on June 26, 2024 and there are no warrants outstanding as of December 31, 2024.

There were no changes to the Company's valuation techniques or methodologies during the years ended December 31, 2024 or 2023.

The following tables present the changes in the Company's recurring Level 3 fair value measurements for the years ended December 31, 2024 and 2023:


(In thousands)	Warrants Liability
Balance as of December 31, 2022	$	718
Total gain recognized due to remeasurement (1)	(49)
Balance as of December 31, 2023	$	669
Total gain recognized due to remeasurement and expiration of warrants (1)	(669)
Balance as of December 31, 2024	$	—

(1) The gain due to remeasurement and expiration of warrants was recorded in other income, net, in the Consolidated Statements of Operations and Comprehensive Loss. The Series A Warrants expired unexercised on June 26, 2024.

The following table displays the valuation technique and the significant inputs, certain of which are unobservable, for the Company's Level 3 liabilities that existed as of December 31, 2023 that were remeasured on a recurring basis:

Fair Value Measurements

Valuation Technique

Significant Inputs

December 31, 2023

Warrants liability

Option pricing

Stock price

$16.70

Exercise price

$20.20

Volatility

75.0%

Term

0.49 years

Risk-free rate

5.3%

The primary sensitivities in the valuation of the warrants liability were driven by the exercise price, the Common Stock price at the measurement date and the expected volatility of the Common Stock over the remaining term.

Fair Value Measurements on a Nonrecurring Basis

For the years ended December 31, 2024, 2023 and 2022, the Company recorded goodwill impairment charges of $63.0 million, $78.2 million and $46.3 million, respectively. Refer to Footnote 9, Goodwill and Intangible Assets, for further details. The remeasurement of goodwill is classified as a non-recurring Level 3 fair value assessment due to the significance of unobservable inputs developed in the determination of the fair value. The Company used a discounted cash flow model to determine the estimated fair value of the reporting unit. The Company made estimates and assumptions regarding future cash flows, discount rates, long-term growth rates and market values to determine the reporting unit's estimated fair value. It is possible that future changes in such circumstances, or in the variables associated with the judgments, assumptions and estimates used in assessing the fair value of the reporting unit, would require the Company to record additional non-cash impairment charges.

For the year ended December 31, 2024, the Company recorded the additional shares of Preferred Stock of $19.6 million within mezzanine equity and $13.0 million within additional paid-in capital, which was based on the calculated fair value net of issuance costs. Refer to Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit), for further details. The initial measurement of the additional shares of Preferred Stock is classified as a non-recurring Level 3 fair value assessment due to the significance of unobservable inputs developed in the determination of the fair value. The Company used a binomial lattice model, a form of the income approach, to determine the fair value of the additional Preferred Stock at the 2024 Issuance Date. The Company used significant inputs and assumptions which included the price and expected volatility of the Common Stock, risk-adjusted discount rate, risk-free rate, expected term, deferred dividends and the timing and probability of a Special Dividend being called and paid as of the 2024 Issuance Date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Related Party Transactions - Narrative (Details)

12 Months Ended

Jul. 24, 2024

USD ($)

Jun. 27, 2024

Dec. 26, 2023

Jun. 15, 2023

Nov. 06, 2022

USD ($)

Mar. 10, 2021

USD ($)

Dec. 31, 2024

USD ($)

board_member

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

May 15, 2023

Dec. 31, 2021

Common stock, shares outstanding (in shares) | shares

4,890,575

4,755,141

Temporary equity, deferred dividend rate, percentage

0.095

Convertible redeemable preferred stock, net of issuance costs (in shares) | shares

13,257,294

^[1]

Dividends payable

$ 32,800,000

$ 9,000,000.0

$ 24,100,000

Convertible redeemable preferred stock, shares outstanding (in shares) | shares

95,784,903

82,527,609

Revenues

^[2]

$ 356,047,000

$ 371,343,000

$ 376,423,000

Dividends payable

9,000,000.0

Revenues

$ 10,217,000

11,420,000

14,934,000

WPP | Related Party

Common stock, shares outstanding (in shares) | shares

565,968

Ownership percentage common stock outstanding shares

11.60%

Revenues

$ 6,953,000

8,281,000

11,677,000

Pine | Related Party

Common stock, shares outstanding (in shares) | shares

109,654

Ownership percentage common stock outstanding shares

2.20%

Percentage of interest held

33.30%

Number of directors designated to the company's board | board_member

Convertible redeemable preferred stock, shares outstanding (in shares) | shares

31,928,301

Payments to acquire machinery and equipment

2,500,000

Qurate | Related Party

Percentage of interest held

33.30%

Revenues

$ 900,000

900,000

Charter | Related Party

Percentage of interest held

33.30%

Number of directors designated to the company's board | board_member

Convertible redeemable preferred stock, shares outstanding (in shares) | shares

31,928,301

Revenues

$ 2,045,000

2,001,000

2,262,000

Liberty | Related Party

Percentage of interest held

33.30%

Number of directors designated to the company's board | board_member

Convertible redeemable preferred stock, shares outstanding (in shares) | shares

31,928,301

Payment obligation for license fees

$ 0

Charter Operating | License Fees in the First Year

Payment obligation for license fees

$ 10,000,000.0

Charter Operating | License Fees in the Tenth Year of Term

Payment obligation for license fees

$ 32,300,000

Charter Operating | License Fee Credits

Payment obligation for license fees

$ 7,000,000.0

Charter Operating | Related Party

Agreement term (in years)

10 years

[1]

[2]

Transactions with related parties are included in the line items above as follows (refer to Footnote 13, Related Party Transactions, for further information):


	Years Ended December 31,
	2024		2023		2022
Revenues	$	10,217	$	11,420	$	14,934
Cost of revenues	30,450		29,265		26,971
Convertible redeemable preferred stock dividends	(17,600)		(16,270)		(15,513)

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Statutory federal tax rate	21.00%	21.00%	21.00%
State taxes	0.50%	0.40%	(0.30%)
Other nondeductible/nontaxable items	(0.80%)	(0.50%)	3.70%
Foreign rate differences	(0.40%)	(0.30%)	(0.40%)
Change in valuation allowance	(3.90%)	(4.90%)	(10.70%)
Stock compensation	(0.30%)	(0.10%)	(2.30%)
Executive compensation	0.00%	0.00%	(0.10%)
Goodwill impairment	(17.60%)	(16.60%)	(11.80%)
Other adjustments	0.00%	(1.00%)	(1.70%)
Uncertain tax positions	(0.10%)	0.00%	(0.10%)
Effective tax rate	(1.60%)	(2.00%)	(2.70%)

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Consolidation

The accompanying Consolidated Financial Statements include the accounts of the Company and its wholly-owned domestic and foreign subsidiaries. All intercompany transactions and balances are eliminated upon consolidation.

Reverse Stock Split

On December 12, 2023, the Company held a special meeting of stockholders of the Company (the "Special Meeting"). At the Special Meeting, the stockholders approved an amendment to the Company's Amended and Restated Certificate of Incorporation (the "Certificate of Amendment") for the purpose of effecting a reverse stock split (the "Reverse Stock Split") of all outstanding shares of Common Stock, par value $0.001 per share (the "Common Stock") and reducing the number of authorized shares of Common Stock by the same ratio as the Reverse Stock Split. Following the Special Meeting, the Board of Directors approved a final ratio of 1-for-20 for the Reverse Stock Split with an effective date of December 20, 2023.

On December 20, 2023, the Company filed the Certificate of Amendment with the Secretary of State of the State of Delaware to implement the Reverse Stock Split, without any change to the par value of the Common Stock. The Certificate of Amendment reduced the number of authorized shares of Common Stock from 275,000,000 to 13,750,000 and the total number of shares of stock authorized for issuance from 380,000,000 to 118,750,000. The Company implemented the Reverse Stock Split on December 20, 2023.

The Common Stock began trading on a split-adjusted basis on the Nasdaq Global Select Market on December 20, 2023, under the existing trading symbol "SCOR", but the security was assigned a new CUSIP number (20564W204).

As a result of the Reverse Stock Split, every 20 shares of Common Stock issued and outstanding or held in treasury immediately prior to the Reverse Stock Split were converted into one share of Common Stock after the Reverse Stock Split. The Reverse Stock Split applied uniformly to all holders of Common Stock and did not alter any stockholder's percentage interest in the Company, except to the extent that the Reverse Stock Split would have resulted in some stockholders owning a fractional share. No fractional shares were issued in connection with the Reverse Stock Split, as all fractional shares were rounded down to the nearest whole share. Stockholders who would otherwise have been entitled to a fractional share of Common Stock were instead entitled to receive a proportional cash payment.

Unless noted, all shares of Common Stock, including Common Stock underlying warrants, stock options, and restricted stock units, as well as all conversion ratios, exercise prices, conversion prices and per share information in the Consolidated Financial Statements have been retroactively adjusted to reflect the 1-for-20 Reverse Stock Split, as if the split occurred at the beginning of the earliest period presented in this Annual Report.

Reclassification

Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. Specifically, contingent consideration has been aggregated within other current liabilities on the Consolidated Balance Sheets and the change in fair value of contingent consideration liability has been aggregated within other operating activities on the Consolidated Statements of Cash Flows.

Use of Estimates and Judgments in the Preparation of the Consolidated Financial Statements

The preparation of financial statements in conformity with generally accepted accounting principles ("GAAP") in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenue and expense during the reporting periods. Significant estimates and judgments are inherent in the analysis and the measurement of management's Standalone Selling Price ("SSP"), principal versus agent revenue recognition, determination of performance obligations, determination of transaction price, including the determination of variable consideration and allocation of transaction price to performance obligations, deferred tax assets and liabilities, including the identification and quantification of income tax liabilities due to uncertain tax positions, the valuation and recoverability of goodwill, intangible and other long-lived assets, the determination of appropriate discount rates for lease accounting, the probability of exercising either lease renewal or termination clauses, the assessment of potential loss from contingencies, the fair value determination of contingent consideration from business combinations, financing-related liabilities and warrants, the initial fair value determination of the Preferred Stock (as defined below) and the valuation of options, performance-based and market-based stock awards. Management bases its estimates and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances.

Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in those estimates. The Company evaluates its estimates and assumptions on an ongoing basis.

Fair Value Measurements

The Company evaluates the fair value of certain assets and liabilities using the fair value hierarchy. Fair value is an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company applies the three-tier GAAP value hierarchy which prioritizes the inputs used in measuring fair value as follows:

Level 1 - observable inputs such as quoted prices in active markets;

Level 2 - inputs other than the quoted prices in active markets that are observable either directly or indirectly;

Level 3 - unobservable inputs of which there is little or no market data, which require the Company to develop its own assumptions.

Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measure. The Company's assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy.

Assets that are measured at fair value on a non-recurring basis include property and equipment, operating right-of-use assets, intangible assets and goodwill. The Company measures these items at fair value when they are considered to be impaired or, in certain cases, upon initial recognition. The fair value of these assets are determined with valuation techniques using the best information available and may include market comparable information, discounted cash flow models, or a combination thereof.

The carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses, and the current portion of contract liabilities and customer advances reported in the Consolidated Balance Sheets approximate fair value due to the short-term nature of these instruments. The carrying amount of the Company's prior revolving line of credit approximated fair value due to the variable rate nature of the debt.

Preferred Stock

In January 2021, the Company entered into separate Securities Purchase Agreements with each of Charter Communications Holding Company, LLC ("Charter"), Qurate Retail, Inc. (together with its affiliate Qurate SCOR, LLC, "Qurate") and Pine Investor, LLC ("Pine") (the "Securities Purchase Agreements") for the issuance and sale of shares of Series B Convertible Preferred Stock, par value $0.001 ("Preferred Stock") as described in Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit). The issuance of the Preferred Stock pursuant to the Securities Purchase Agreements (the "Transactions") and related matters were approved by the Company's stockholders on March 9, 2021 and completed on March 10, 2021.

On May 16, 2023, Qurate sold 27,509,203 shares of Preferred Stock to Liberty Broadband Corporation ("Liberty") in a privately negotiated transaction.

On July 24, 2024, the Company issued 13,257,294 additional shares of Preferred Stock to the existing holders of Preferred Stock in exchange for cancellation of the Company's obligation to pay accrued dividends totaling $32.8 million to such holders for annual dividend periods ended in 2023 and 2024. The additional shares of Preferred Stock have the same terms and conditions as the Preferred Stock previously issued by the Company. In connection with the issuance of the additional shares of Preferred Stock, the Company and the holders of the Preferred Stock also entered into an amendment to the Stockholders Agreement between the parties. Among other things, the amendment reduced the $100.0 million special dividend threshold set forth in the Stockholders Agreement by an amount equal to the liquidation preference of the additional Preferred Stock ($32.8 million). After further reducing the threshold by annual dividends paid in prior years, the current special dividend threshold is $47.0 million.

The Preferred Stock is contingently redeemable upon certain deemed liquidation events, such as a change in control. Because a deemed liquidation event could constitute a redemption event outside of the Company's control, all shares of Preferred Stock have been presented outside of permanent equity in mezzanine equity on the Consolidated Balance Sheets. The instrument was initially recognized at fair value net of issuance costs. The Company reassesses whether the Preferred Stock is currently redeemable, or probable to become redeemable in the future, as of each reporting date. If the instrument meets either of these criteria, the Company will accrete the carrying value to the redemption value. The Preferred Stock has not been adjusted to its redemption amount as of December 31, 2024 because a deemed liquidation event is not considered probable.

All financial instruments that are classified as mezzanine equity are evaluated for embedded derivative features by evaluating each feature against the nature of the host instrument (for example, more equity-like or debt-like). Features identified as embedded derivatives that are material are recognized separately as a derivative asset or liability in the financial statements. No embedded features were identified requiring bifurcation, other than the change of control redemption feature.

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents are maintained with several financial institutions domestically and internationally. The combined account balances held on deposit at each institution typically exceed Federal Deposit Insurance Corporation ("FDIC") insurance coverage and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. The Company reduces this risk by maintaining such deposits with high quality financial institutions that management believes are creditworthy, and by monitoring this credit risk and making adjustments as necessary.

The Company considers highly liquid investments with an original maturity of three months or less at the time of purchase and qualifying money-market funds as cash equivalents.

Restricted cash represents security deposits for subleased office space and cash collateral for outstanding letters of credit.

Allowance for Doubtful Accounts

The Company generally grants uncollateralized credit terms to its customers. Credit risk associated with accounts receivable is mitigated by the Company's ongoing credit evaluation of its customers' financial condition. An allowance for doubtful accounts is maintained to reserve for uncollectible receivables. Allowances are based on management's judgment, which considers historical collection experience adjusted for current conditions or expected future conditions based on reasonable and supportable forecasts, a specific review of all significant outstanding receivables, an assessment of company-specific credit conditions and general economic conditions.

The following is a summary of the activity within the allowance for doubtful accounts:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Beginning balance	$	(614)	$	(798)	$	(1,173)
Bad debt expense	(396)		(236)		(312)
Recoveries	(62)		(99)		(126)
Write-offs	610		519		813
Ending balance	$	(462)	$	(614)	$	(798)

Property and Equipment, net

Property and equipment is recorded at cost, net of accumulated depreciation, and is depreciated on a straight-line basis over the estimated useful lives of the assets, ranging from 3 to 10 years. Finance lease assets are recorded at their net present value at the commencement of the lease. Both finance lease assets and leasehold improvements are amortized on a straight-line basis over the shorter of the related lease terms or their useful lives. Replacements and major improvements are capitalized; maintenance and repairs are expensed as incurred.

Included in property and equipment, net, are capitalized software costs to purchase and develop internal-use software, which the Company uses to provide services to its clients. The costs to purchase and develop internal-use software are capitalized from the time that the preliminary project stage is completed, and it is considered probable that the software will be used to perform the function intended, until the time the software is placed in service for its intended use. Any costs incurred during subsequent efforts to upgrade and enhance the functionality of the software are also capitalized. Once this software is ready for use in the Company's products, these costs are amortized on a straight-line basis over the estimated useful life of the software, which is typically assessed to be 3 years. During the years ended December 31, 2024, 2023 and 2022, the Company capitalized $22.8 million, $22.4 million, and $17.2 million in internal-use software costs, respectively. The Company amortized $20.4 million, $18.1 million and $15.1 million in capitalized internal-use software costs during the years ended December 31, 2024, 2023 and 2022, respectively.

Business Combination

In December 2021, the Company and two newly formed, wholly owned subsidiaries of the Company entered into an Agreement and Plan of Merger (the "Merger Agreement" or "Merger") with Shareablee, Inc. ("Shareablee"), to acquire Shareablee in exchange for shares of the Company's Common Stock and contingent consideration payable subject to the achievement of certain conditions set forth in the Merger Agreement. Total consideration paid or payable by the Company related to the Merger (valued as of the closing date of the Merger) was $31.4 million, which included $5.6 million for the fair value of contingent consideration payable based on the achievement of certain contractual milestones or future revenue performance. The maximum amount of contingent consideration payable under the Merger was $8.6 million.

In April 2022, the contingency was resolved and the full amount was deemed payable, subject to reduction for any pending indemnification claims and other terms set forth in the Merger Agreement. The resolution of this contingency eliminated the option pricing model as a valuation technique, and the fair value was remeasured using only the discounted cash flow model. The Company settled the first installment of $3.7 million in cash in 2023 and the second installment of $3.7 million in cash in 2024. In December 2024, the Company elected to settle the third and final installment of $1.2 million in cash. This amount remained outstanding as of December 31, 2024 and was paid in 2025. Refer to Footnote 6, Fair Value Measurements, for additional information on the fair value of the contingent consideration.

Cloud Computing Implementation Costs

Certain costs incurred for implementation, setup, and other upfront activities in a hosting arrangement that is a service contract are capitalized during the application development stage. Upgrades and enhancements are capitalized if they will result in additional functionality. Amortization of capitalized costs is recorded on a straight-line basis over the term of the associated hosting arrangement, inclusive of reasonably certain renewal periods. As of December 31, 2024 and 2023, capitalized implementation costs, net of accumulated amortization, were $2.2 million and $3.5 million, respectively.

The Company determined the expected period of benefit of the capitalized implementation costs was five years. Amortization costs are classified within general and administrative expense in the Consolidated Statements of Operations and Comprehensive Loss. The Company recorded $1.4 million of amortization expense for each of the years ended December 31, 2024, 2023 and 2022.

Goodwill and Intangible Assets

Goodwill represents the excess of the purchase consideration over the fair value of identifiable assets acquired and liabilities assumed when a business is acquired. The valuation of intangible assets and goodwill involves the use of management's estimates and assumptions and can have a significant impact on future operating results. The Company initially records its intangible assets at fair value. Definite-lived intangible assets are amortized over their estimated useful lives while goodwill is not amortized but is evaluated for impairment at least annually, as of October 1, by comparing the fair value of a reporting unit to its carrying value including goodwill recorded by the reporting unit.

The Company has a single reporting unit. Accordingly, the impairment assessment for goodwill is performed at the enterprise level. Goodwill is reviewed for possible impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. The Company has the option to first perform qualitative testing to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value. The qualitative evaluation is an assessment of factors, including operating results and cost factors, as well as industry, market and macroeconomic conditions, to determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount, including goodwill. If the Company chooses not to complete a qualitative assessment or if the initial assessment indicates that it is more likely than not that the carrying value of the reporting unit exceeds its estimated fair value, additional quantitative testing is required.

The fair value of the reporting unit is determined utilizing a discounted cash flow model, and a market value approach is utilized to supplement the discounted cash flow model. The estimated fair value of a reporting unit is determined based on assumptions regarding estimated future cash flows, discount rates, long-term growth rates and market values. Additionally, the Company considers income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment charge.

The Company monitors for events and circumstances that could negatively impact the key assumptions in determining fair value, including long-term revenue growth projections, profitability, discount rates, volatility in the Company's market capitalization, general industry, and market and macroeconomic conditions. It is possible that future changes in such circumstances, or in the variables associated with the judgments, assumptions and estimates used in assessing the fair value of the reporting unit, would require the Company to record a material non-cash impairment charge.

During the third quarter of 2024, the Company concluded that it was more likely than not that the estimated fair value of its reporting unit was less than its carrying value. In its assessment, the Company considered changes in the Company's stock price, market and equity capitalization, operating results and projections. The Company performed quantitative testing on its reporting unit using a discounted cash flow model (a form of the income approach) utilizing Level 3 unobservable inputs, supported by a market approach. The Company's reporting unit did not pass the goodwill impairment test, and as a result, the Company recorded a $63.0 million non-cash impairment charge during the three months ended September 30, 2024. No additional impairment indicators were identified during the fourth quarter of 2024. Refer to Footnote 9, Goodwill and Intangible Assets, for further information.

As part of the annual test as of October 1, 2023, the Company performed a quantitative goodwill impairment test using a discounted cash flow model, supported by a market approach. The Company's reporting unit did not pass the goodwill impairment test, and as a result, the Company recorded a $34.1 million non-cash impairment charge during the three months ended December 31, 2023.

In the second quarter of 2023, the Company performed a quantitative goodwill impairment test using a discounted cash flow model, supported by a market approach. The Company's reporting unit did not pass the goodwill impairment test, and as a result, the Company recorded a $44.1 million non-cash impairment charge during the three months ended June 30, 2023.

In the third quarter of 2022, the Company performed a quantitative goodwill impairment test using a discounted cash flow model, supported by a market approach. The Company's reporting unit did not pass the goodwill impairment test, and as a result, the Company recorded a $46.3 million non-cash impairment charge during the three months ended September 30, 2022.

Intangible assets with finite lives are generally amortized using the straight-line method over the following useful lives:


			Useful Lives (Years)
Acquired methodologies and technology			5
Acquired software			2
Customer relationships			11
Intellectual property			16

The Company evaluates its definite-lived intangible assets for impairment whenever events or changes in circumstances indicate the carrying value of such assets may not be recoverable. If an indication of impairment is present, the Company compares the estimated undiscounted future cash flows to be generated by the asset group to its carrying amount. Recoverability measurement and estimation of undiscounted cash flows are grouped at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. If the undiscounted future cash flows are less than the carrying amount of the asset group, the Company records an impairment loss equal to the excess of the asset group's carrying amount over its fair value. The fair value is determined based on valuation techniques such as a comparison to fair values of similar assets or using a discounted cash flow analysis.

Although the Company believes that the carrying values of its goodwill and definite-lived intangible assets are appropriately stated as of December 31, 2024, changes in strategy or market conditions, significant technological developments or significant changes in legal or regulatory factors could significantly impact these judgments and require adjustments to recorded asset balances.

Recoverability of Other Long-Lived Assets

The Company's other long-lived assets consist primarily of property and equipment and right-of-use ("ROU") assets. The Company evaluates its ROU and long-lived assets for impairment whenever events or changes in circumstances indicate the carrying value of such assets may not be recoverable. For facility lease ROU and related long-lived assets, the Company compares the estimated undiscounted cash flows generated by a sublease to the current carrying value of the ROU and related long-lived assets. The Company treats operating lease ROU assets as financing transactions, thereby excluding the operating lease liability and related lease payments from the head lease, for purposes of testing recoverability. If the undiscounted cash flows are less than the carrying value of the ROU and related long-lived assets, the Company records an impairment loss equal to the excess of the ROU and long-lived assets' carrying value over their fair value.

The Company performed an analysis in the third quarter of 2024 related to the execution of a sublease for an office space for which expected cash receipts are less than the disbursements for the primary lease. The Company recorded a $1.4 million non-cash impairment charge related to the ROU asset and associated leasehold improvements during the three months ended September 30, 2024. The fair value of the ROU asset was estimated using an income approach and a discount rate of 9.3%.

The Company performed an analysis in the third quarter of 2023 related to the abandonment of two leased office spaces, which changed the extent and manner for which the ROU assets and related long-lived assets were being used. The Company recorded a non-cash impairment charge of $1.5 million related to the ROU assets during the three months ended September 30, 2023.

The Company performed an analysis in the fourth quarter of 2022 related to the execution of a sublease for a property for which expected cash receipts were less than the disbursements for the lease. The Company recorded a $0.2 million non-cash impairment charge related to the ROU asset during the three months ended December 31, 2022. The fair value of the ROU asset was estimated using an income approach and a discount rate of 7.4%.

Although the Company believes that the carrying values of its other long-lived assets are appropriately stated as of December 31, 2024, changes in strategy or market conditions, significant technological developments or significant changes in legal or regulatory factors could significantly impact these judgments and require adjustments to recorded asset balances.

Warrants Liability

In 2019, the Company issued warrants in connection with the private placement described in Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit). The warrants were determined to be freestanding financial instruments that qualify for liability treatment as a result of net cash settlement features associated with a cap on the issuance of shares, under certain circumstances, or upon a change of control. Changes in the fair value of these instruments were recorded in other income, net in the Consolidated Statements of Operations and Comprehensive Loss.

The fair value of each warrant was estimated utilizing an option pricing model. Significant valuation inputs included the exercise price, price and expected volatility of the Company's Common Stock, risk-free rate and the remaining term of the warrants. All remaining warrants expired on June 26, 2024.

Leases

The Company's lease portfolio is comprised of two major classes. Real estate leases, which are the majority of the Company's leased assets, are accounted for as operating leases. Computer equipment leases are generally accounted for as finance leases.

The Company determines if an arrangement is or contains a lease at inception and whether the lease should be classified as an operating or finance lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of the future

minimum lease payments over the lease term. Operating ROU assets also include the impact of any lease incentives. A ROU asset and lease liability are not recorded for short-term leases with an initial term of 12 months or less.

The Company has elected to combine lease and non-lease components and account for them together as a single lease component, which increases the carrying amount of the ROU assets and lease liabilities. Non-lease components primarily include payments for common-area maintenance, utilities and other pass-through charges.

The Company uses its incremental borrowing rate to determine the present value of the future lease payments. The incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located.

The Company's lease terms include periods under options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company considers contractual-based factors such as the nature and terms of the renewal or termination, asset-based factors such as physical location of the asset and entity-based factors such as the importance of the leased asset to the Company's operations to determine the lease term. The Company generally uses the non-cancelable lease term when measuring its ROU assets and lease liabilities.

Payments under the Company's lease arrangements are primarily fixed; however, certain lease agreements contain variable payments, which are expensed as incurred and excluded from the measurement of ROU assets and lease liabilities. These payment amounts are affected by changes in market indices and costs for common-area maintenance, utilities and other pass-through charges that are based on usage or performance.

Operating leases are included in operating ROU assets, current operating lease liability, and non-current operating lease liability in the Consolidated Balance Sheets. The Company recognizes lease expense (excluding variable lease costs) for its operating leases on a straight-line basis over the term of the lease. Finance lease assets are included in property and equipment, net; current finance lease liabilities are aggregated into other current liabilities; and non-current finance lease obligations are aggregated in other non-current liabilities in the Consolidated Balance Sheets. The Company recognizes interest expense on the lease liability and the ROU asset is amortized over the lease term for its finance leases.

Income from subleased properties is recognized and presented as a reduction of costs, allocated among operating expense line items, in the Consolidated Statements of Operations and Comprehensive Loss.

Foreign Currency

Generally, the functional currency of the Company's foreign subsidiaries is the local currency. In those cases where the transaction is not denominated in the functional currency, the Company revalues the transaction to the functional currency and records the transaction gain or loss in the Company's Statements of Operations and Comprehensive Loss. Assets and liabilities are translated at the current exchange rate as of the end of the year, and revenues and expenses are translated at average exchange rates in effect during the year. The gain or loss resulting from the process of translating a foreign subsidiary's functional currency financial statements into U.S. Dollars ("USD") is reflected as foreign currency cumulative translation adjustment and reported as a component of accumulated other comprehensive loss. The translation adjustment for intercompany foreign currency loans that are permanent in nature are also recorded as accumulated other comprehensive loss. Translation adjustments on intercompany accounts that are short term in nature are recorded as (loss) gain from foreign currency transactions. For foreign entities where USD is the functional currency, re-measurement of gains and losses related to deferred tax assets and liabilities are reflected in income tax provision in the Consolidated Statements of Operations and Comprehensive Loss.

Revenue Recognition

The Company recognizes revenue under the core principle to depict the transfer of control to its customers in an amount reflecting the consideration to which it expects to be entitled.

The Company's contracts with customers may include multiple promised goods and services. Contracts with multiple performance obligations typically consist of a mix of subscriptions to the Company's online database, customized data services, and delivery of periodic custom reports based on information obtained from the database. In such cases, the Company identifies performance obligations by evaluating whether the promised goods and services are capable of being distinct and distinct within the context of the contract at contract inception. Promised goods and services that are not distinct at contract inception are combined as one performance obligation.

Once the Company identifies the performance obligations, the Company will determine the transaction price based on contractually fixed amounts and an estimate of variable consideration. In general, the transaction price is determined by estimating the fixed amount of consideration to which the Company is entitled for transfer of goods and services and all relevant sources and components of variable consideration. Variable consideration is estimated based on the most likely amount or expected value approach, depending on which method the Company expects to better predict the amount of consideration to which it will be entitled. Once the Company elects one of the methods to estimate variable consideration for a particular type of performance obligation, the Company will apply that method consistently. Estimates of variable consideration are subject to constraint based on expected recovery from the customer. Sales taxes remitted to government authorities are excluded from the transaction price.

The Company allocates the transaction price to each performance obligation based on relative SSP. Judgment is exercised to determine the SSP of each distinct performance obligation. In most cases, the Company bundles multiple products and very few are sold on a standalone basis. The Company primarily applies an adjusted market assessment approach for the determination of the SSP, which is supported by rate cards and

pricing calculators that are periodically reviewed and updated to reflect the latest sales data and observable inputs by industry, channel, geography, customer size, and other relevant groupings.

The Company recognizes revenue when (or as) it satisfies a performance obligation by transferring promised goods or services to a customer. Customers may obtain the control of promised goods or services over time or at a point in time. Subscription-based revenues, and other products delivered continuously through a user interface, are recognized on a straight-line basis over an access period specified within the respective contract. Revenues for impression-based products are typically recognized over time, on a time-elapsed basis, as the customer is continuously consuming and receiving the benefits of campaign measurement, or an output method, such as volume of impressions processed during a discrete period. Report-based revenues are recognized at a point in time, which is generally once the product has been delivered to the customer. The Company also considers whether there is a present right to payment, and whether the customer has accepted the product if such acceptance provisions are substantive.

Customers may have the right to cancel their contracts by providing a written notice of cancellation, although most subscription-based contracts are non-cancelable. If a customer cancels its contract, the customer is generally not entitled to a refund for prior services. In the event a portion of a contract is refundable, revenue recognition is delayed until the refund provision lapses. For multi-year contracts with annual price increases, the total consideration for each of the years included in the contract term will be combined and recognized on a straight-line basis.

For transactions that involve third parties, the Company evaluates whether it is the principal, in which case it recognizes revenue on a gross basis. If the Company is an agent, it recognizes revenue on a net basis. This determination can require significant judgment for certain revenue share arrangements that involve the use of partner data in the Company's sales to end users or the use of its data in partner sales to end users. In these arrangements, the Company assesses which party controls the specified goods or services before they are transferred to the customer, as well as other indicators such as the party primarily responsible for fulfillment, inventory risk, and discretion in establishing price.

The Company enters into a limited number of monetary contracts with multichannel video programming distributors ("MVPDs") that involve both the purchase and sale of services with a single counterparty. Each contract is assessed to determine if the revenue and expense should be presented gross or net. In some instances, the Company may provide free distinct goods or services as a form of non-cash consideration to the counterparty. Revenue is recognized for these contracts to the extent SSP is established for distinct services provided. Any excess consideration above the established SSP of services is presented as a reduction to cost of revenues in the Consolidated Statements of Operations and Comprehensive Loss. The fair value of non-cash consideration included in revenues during the years ended December 31, 2024, 2023 and 2022 totaled $4.3 million, $4.2 million, and $3.9 million, respectively. The fair value of non-cash consideration included in cost of revenues during the years ended December 31, 2024, 2023 and 2022 totaled $4.3 million, $4.3 million and $4.1 million, respectively.

Contract Balances

Accounts receivable are billed and unbilled amounts where the right to payment from the customer is unconditional but for the passage of time. Contract assets represent amounts where the right to payment in exchange for goods or services transferred is conditioned on future events, such as the entity's continued performance. The portion of contract assets to be billed in the succeeding twelve-month period are included in prepaid expenses and other current assets, and the remaining amounts are included in other non-current assets within the Consolidated Balance Sheets.

Contract liabilities relate to amounts billed in advance, or advance consideration received from customers, under non-cancelable contracts for which exchange of goods or services will occur in the future. Customer advances relate to amounts billed in advance, or advance considerations received from customers, for contracts with termination rights for which exchange of goods or services will occur in the future. The portion of contract liabilities and customer advances to be recognized in the succeeding twelve-month period are presented separately within current liabilities, and the remaining amounts are included in other non-current liabilities within the Consolidated Balance Sheets.

Remaining Performance Obligations

The Company elected an optional exemption to not disclose information about the amount of the transaction price allocated to remaining performance obligations for contracts that have an original expected duration of one year or less. The amount disclosed for remaining performance obligations also excludes variable consideration from unsatisfied performance obligations within a series where revenue is recognized using an output method, such as volume of impressions processed.

Cost of Revenues

Cost of revenues consists primarily of costs to produce the Company's products including viewing data from MVPDs, census-based, panel and other third-party data as well as costs to operate its network infrastructure including data center, data storage and compliance costs. Other costs include employee costs including stock-based compensation, depreciation related to assets used to maintain the network and produce products and allocated overhead, including rent and depreciation expenses generated by general purpose equipment and software.

Selling and Marketing

Selling and marketing expenses consist primarily of salaries, commissions, stock-based compensation, benefits and bonuses for personnel associated with sales and marketing activities, as well as costs related to online and offline advertising, product management, seminars,

promotional materials, public relations, other sales and marketing programs, and allocated overhead, including rent and other facilities related costs, and depreciation.

Research and Development

Research and development expenses consist primarily of salaries, stock-based compensation, benefits and related costs for personnel associated with research and development activities, as well as allocated overhead, including rent and other facilities related costs, and depreciation.

General and Administrative

General and administrative expenses consist primarily of salaries, stock-based compensation, benefits and related costs for executive management, finance, accounting, human capital, legal, information technology and other administrative functions, as well as professional fees and allocated overhead, including rent and other facilities related costs, depreciation and expenses incurred for other general corporate purposes.

Other Income, Net

Other income, net represents income and expenses incurred that are generally not recurring in nature or are not part of the Company's normal operations. The following is a summary of the significant components of other income, net:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Change in fair value of warrants liability	$	669	$	49	$	9,802
Other	(18)		(7)		(17)
Total other income, net	$	651	$	42	$	9,785

Debt Issuance Costs

Debt issuance costs include expenditures necessary to obtain debt financing and are amortized on a straight-line basis, which approximates the effective interest method over the term of the underlying debt instrument. Debt issuance costs, except for costs associated with the Revolving Facility (as defined below), are presented as a direct deduction from the related debt liability in the Consolidated Balance Sheets. Debt issuance costs for the Revolving Facility are included in other non-current assets in the Consolidated Balance Sheets. The Term Loan (as defined below) and Revolving Facility issuance costs are amortized to interest expense, net in the Consolidated Statements of Operations and Comprehensive Loss.

Stock-Based Compensation

The Company estimates the fair value of stock-based awards on their grant date. The fair value of stock options with only service conditions is determined using the Black-Scholes option pricing model. The determination of the fair value of the Company's stock option awards is based on a variety of factors, including, but not limited to, the Company's Common Stock price, risk-free rate, expected stock price volatility over the expected life of awards, and the expected term of the option. The fair value of restricted stock units ("RSUs") is based on the closing price of the Company's Common Stock on the grant date. The Company amortizes the fair value of awards expected to vest on a straight-line basis over the requisite service periods of the awards, which is generally the period from the grant date to the end of the vesting period.

The Company issues stock options with a vesting period based solely upon the passage of time (service vesting). To determine the expected term of the option the Company applies the simplified method for plain-vanilla options due to the lack of significant historical exercise experience. For non-employee options that do not qualify as plain-vanilla the Company has elected to apply the contractual term of the award.

The Company issues RSU awards with a vesting period based solely upon the passage of time (service vesting), achieving performance targets, fulfillment of market conditions, or a combination thereof. For those RSU awards with only service vesting, the Company recognizes compensation cost on a straight-line basis over the service period. For awards with both service and performance conditions, the Company starts recognizing compensation cost over the remaining service period when it is probable the performance conditions will be met. Stock awards that contain performance vesting conditions are excluded from diluted earnings per share ("EPS") computations until the contingency is met as of the end of that reporting period.

For awards with both service and market conditions, the Company recognizes compensation cost over the remaining service period, with the effect of the market condition reflected in the determination of the award's fair value at the grant date. The Company values awards with market conditions using certain valuation techniques, such as a lattice model or Monte Carlo simulation analysis. The Company determines the requisite service period based on the longer of the explicit service period and the derived service period. Stock awards that contain market vesting conditions are included in the computations of diluted EPS reflecting the number of shares that would be issued based on the current market price at the end of the period being reported on, if their effect is dilutive.

Under the Company's annual incentive compensation plan, the Company may grant immediately vested RSUs to certain employees. For these awards, stock-based compensation expense is accrued commencing at the service inception date, which generally precedes the grant date, through the end of the requisite service period.

The Company estimates forfeitures for stock-based awards at their grant date based on historical experience. The estimated forfeiture rate as of December 31, 2024, 2023 and 2022 was 10.0% for non-executive awards. Awards granted to senior executives have an estimated forfeiture rate of zero. The Company performs a review of its forfeiture rate assumption on an annual basis. Changes in the estimates and assumptions relating to forfeitures and subsequent grants may result in material changes to stock-based compensation expense in the future.

Income Taxes

Income taxes are accounted for using the asset and liability method. Deferred income taxes are provided for temporary differences in recognizing certain income, expense and credit items for financial reporting purposes and tax reporting purposes. Such deferred income taxes primarily relate to the difference between the tax bases of assets and liabilities and their financial reporting amounts. Deferred tax assets and liabilities are measured by applying enacted statutory tax rates applicable to the future years in which deferred tax assets or liabilities are expected to be settled or realized. Excess tax benefits and tax deficiencies are recognized in the income tax provision in the period in which they occur.

The Company records a valuation allowance when it determines, based on available positive and negative evidence, that it is more likely than not that some portion or all of its deferred tax assets will not be realized. The Company determines the realizability of its deferred tax assets primarily based on the reversal of existing taxable temporary differences and projections of future taxable income (exclusive of reversing temporary differences and carryforwards). In evaluating such projections, the Company considers its history of profitability, the competitive environment, and general economic conditions. In addition, the Company considers the time frame over which it would take to utilize the deferred tax assets prior to their expiration.

For certain tax positions, the Company uses a more-likely-than-not threshold based on the technical merits of the tax position taken. Tax positions that meet the more-likely-than-not recognition threshold are measured at the largest amount of tax benefits determined on a cumulative probability basis, which are more likely than not to be realized upon ultimate settlement in the financial statements. The Company's policy is to recognize interest and penalties related to income tax matters in income tax expense.

In December 2017, U.S. tax reform legislation known as the Tax Cuts and Jobs Act (the "TCJA") was signed into law. The Company determined the effects of certain provisions, including but not limited to: a reduction in the corporate tax rate from 35% to 21%, a limitation of the deductibility of certain officers' compensation, a limitation on the current deductibility of net interest expense in excess of 30% of adjusted taxable income, a limitation of net operating losses generated after 2018 to 80% of taxable income, an incremental tax (base erosion anti-abuse or "BEAT") on excessive amounts paid to foreign related parties, and a minimum tax on certain foreign earnings in excess of 10% of the foreign subsidiaries' tangible assets (global intangible low-taxed income or "GILTI"). As part of its GILTI review, the Company has determined that it will account for GILTI income as it is generated (i.e., treat it as a period expense). Given the Company's loss position in the U.S. and the valuation allowance recorded against its U.S. net deferred tax assets, these provisions have not had a material impact on the Company's consolidated financial statements.

Beginning in 2022, the TCJA eliminated the option to immediately deduct research and experiment ("R&E") expenditures in the year incurred pursuant to Internal Revenue Code Section 174 ("Section 174"). The amended provision under Section 174 requires taxpayers to capitalize and amortize these expenditures over five years for research performed in the U.S. and over 15 years for research performed outside the U.S. While it is possible that Congress may defer, modify or repeal this provision, potentially with retroactive effect, it was not deferred, modified or repealed as of December 31, 2024. Due to the Company's federal and state net operating loss ("NOL") carryforwards, the amended provision under Section 174 only increased the Company's state cash taxes payable and reduced its cash flow from operating activities by an immaterial amount in 2024, 2023 and 2022. The capitalized R&E expenditures merely caused a reclassification between the NOL deferred tax asset and capitalized R&E deferred tax asset as of December 31, 2024 and 2023. Because the Company's deferred tax assets have a full valuation allowance against them, the amended provision under Section 174 did not materially impact the Company's tax rate or results of operations.

Loss Per Share

The Company uses the two-class method to calculate net loss per share. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common stockholders. Under the two-class method, earnings for the period are allocated between common stockholders and participating security holders based on their respective rights to receive dividends as if all undistributed book earnings for the period were distributed.

Basic loss per share is computed by dividing net loss available to only the common stockholders by the weighted-average number of common shares outstanding for the period. This includes the effect of vested and deferred stock units granted to members of the Company's Board of Directors ("Board") and certain employees. These awards are expected to be settled in shares of Common Stock and generally distributed upon the earlier of the individual's separation from service or a change of control. Diluted loss per share includes the effect of potential common shares, such as the Company's Preferred Stock, warrants, stock options, restricted stock units and contingent consideration, to the extent the effect is dilutive. In periods with a net loss available to common stockholders, the anti-dilutive effect of these potential common shares is excluded and diluted net loss per share is equal to basic net loss per share.


	Years Ended December 31,
	2024	2023	2022
Preferred Stock (1)	4,699,620	4,285,418	4,285,418
Warrants	132,698	272,851	272,851
Stock options and restricted stock units	295,249	294,388	249,081
Contingent consideration (2)	—	71,377	211,034
Total	5,127,567	4,924,034	5,018,384

For the years ended December 31, 2024, 2023 and 2022, dividends to holders of the Preferred Stock totaled $17.6 million, $16.3 million, and $15.5 million, respectively. These dividends have been included in calculating the total loss available to common stockholders used in the calculation of basic and diluted loss per share.

Recently Adopted Accounting Guidance

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted ASU 2023-07 during the year ended December 31, 2024. Refer to Footn ote 14, Segment Information.

Accounting Guidance Issued But Not Adopted at December 31, 2024

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendments are effective for fiscal years beginning after December 15, 2024 and early adoption is permitted. The amendments in this update should be applied on a prospective basis. Retroactive application is permitted. The Company will adopt the new standard effective January 1, 2025 and is currently evaluating the impact that this standard will have on its Consolidated Financial Statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The ASU requires additional disclosure of the nature of certain expenses in the notes to the financial statements. The update is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The ASU is required to be applied prospectively with the option for retrospective application. The Company is currently evaluating the impact that this standard will have on its Consolidated Financial Statements and related disclosures.

Related Party Transactions

12 Months Ended

Dec. 31, 2024

Related Party Transactions

Transactions with WPP

As of December 31, 2024 (based on public filings), WPP plc and its affiliates ("WPP") owned 565,968 shares of the Company's outstanding Common Stock, representing 11.6% of the outstanding Common Stock. The Company provides WPP and its affiliates, in the normal course of business, services amongst its different products and receives various services from WPP supporting the Company's data collection efforts.

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


	Years Ended December 31,
(In thousands)	2024		2023		2022
Revenues	$	6,953	$	8,281	$	11,677
Cost of revenues	8,781		9,350		9,391

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


	As of December 31,
(In thousands)	2024		2023
Assets
Accounts receivable, net	$	687	$	525

Liabilities
Accounts payable	$	1,987	$	1,673
Accrued expenses	199		399
Contract liabilities	384		1,447

Transactions with Charter, Qurate, Liberty and Pine

Through May 15, 2023, Charter, Qurate and Pine each held 33.3% of the outstanding shares of Preferred Stock. On May 16, 2023, Qurate sold its Preferred Stock to Liberty, and as of December 31, 2024, Charter, Liberty and Pine each hold 33.3% of the outstanding shares of Preferred Stock. Charter, Liberty and Pine are entitled to convert the Preferred Stock into shares of Common Stock and to vote as a single class with the holders of the Common Stock as set forth in the Certificate of Designations. As of December 31, 2024 (based on public filings), Pine also owned 109,654 shares of the Company's outstanding Common Stock, representing 2.2% of the outstanding Common Stock. In addition, Charter, Liberty and Pine each designated two members of the Company's Board in accordance with the Stockholders Agreement.

At the Annual Meeting on June 15, 2023, the Company's stockholders approved proposals permitting the payment of annual dividends on the Preferred Stock in the form of cash, shares of Common Stock, additional shares of Preferred Stock, or a combination thereof, subject to conditions set forth in the Certificate of Designations. On the same date, each holder of Preferred Stock waived its right to receive on June 30, 2023 the annual dividends otherwise payable by the Company on that date. Under the waivers and the Certificate of Designations, the deferred dividends would accrue at a rate of 9.5% per year from June 30, 2023 until declared and paid, with payment to occur on or before December 31, 2023.

On December 26, 2023, each holder of Preferred Stock waived its right to receive the deferred dividends on or before December 31, 2023. Under the waivers and the Certificate of Designations, the deferred dividends would continue to accrue at a rate of 9.5% per year until paid, with payment to occur on or before June 30, 2024.

On June 27, 2024, each holder of Preferred Stock further waived its right to receive the deferred dividends on or before June 30, 2024. In addition, each holder waived its right to receive on June 30, 2024 the annual dividends otherwise payable on that date for the dividend period ending June 29, 2024. Under these waivers and the Certificate of Designations, the deferred dividends for both periods (2023 and 2024) would continue to accrue and accumulate at a rate of 9.5% per year until declared and paid, with payment to occur on or before July 31, 2024.

As of December 31, 2024, Charter, Liberty and Pine each owned 31,928,301 shares of the Company's outstanding Preferred Stock.

As of December 31, 2024 and December 31, 2023, total accrued dividends to the holders of Preferred Stock were $9.0 million and $24.1 million, respectively.

Concurrent with the closing of the Transactions on March 10, 2021, the Company entered into a ten-year Data License Agreement ("DLA") with Charter Communications Operating, LLC ("Charter Operating"), an affiliate of Charter. Under the original DLA, Charter Operating would bill the Company for license fees according to a payment schedule that gradually increased from $10.0 million in the first year of the term to $32.3 million in the tenth year of the term. The Company recognizes expense for the license fees ratably over the term. On November 6, 2022, the Company and Charter Operating entered into an amendment to the DLA, pursuant to which the Company received license fee credits totaling $7.0 million. On December 31, 2024, the Company and Charter Operating entered into another amendment (the "2024 Amendment") under which the Company will pay fees based on household counts provided by Charter Operating during the period. The 2024 Amendment was conditioned upon the Company's payment of arrears due to Charter under the DLA, which were paid in full on December 31, 2024.

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


	Years Ended December 31,
(In thousands)	2024		2023		2022
Revenues	$	2,045	$	2,001	$	2,262
Cost of revenues	21,669		19,914		17,580

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


	As of December 31,
(In thousands)	2024		2023
Accounts payable	$	83	$	10,323
Accrued expenses	8,389		3,382
Non-current portion of accrued data costs	22,031		21,908

The Company had no transactions with Pine and Liberty in 2024, other than the 2024 Preferred Stock issuance. In 2023, the Company entered into a finance lease with a third-party vendor that is not a related party. In conjunction with this transaction, the third-party vendor purchased equipment for $2.5 million from a Pine affiliate (related party). The Company had no additional transactions with Pine and no transactions with Liberty for the years ended December 31, 2023 and 2022.

The Company recognized revenues of $0.9 million from transactions with Qurate and its affiliates in the normal course of business during the years ended December 31, 2024, 2023 and 2022, respectively, as reflected in the Consolidated Statements of Operations and Comprehensive Loss.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured At Fair Value On Recurring Basis

The Company's financial instruments measured at fair value in its Consolidated Balance Sheets on a recurring basis consist of the following:


	As of								As of
	December 31, 2024								December 31, 2023
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total



Liabilities
Contingent consideration liability (1)	$	—	$	1,191	$	—	$	1,191	$	—	$	4,806	$	—	$	4,806
Warrants liability (2)	—		—		—		—		—		—		669		669
Total	$	—	$	1,191	$	—	$	1,191	$	—	$	4,806	$	669	$	5,475

Schedule of Changes in Level 3 Fair Valued Instruments

The following tables present the changes in the Company's recurring Level 3 fair value measurements for the years ended December 31, 2024 and 2023:


(In thousands)	Warrants Liability
Balance as of December 31, 2022	$	718
Total gain recognized due to remeasurement (1)	(49)
Balance as of December 31, 2023	$	669
Total gain recognized due to remeasurement and expiration of warrants (1)	(669)
Balance as of December 31, 2024	$	—

Schedule of Valuation Techniques And Unobservable Inputs For Level 3 Liabilities

Fair Value Measurements

Valuation Technique

Significant Inputs

December 31, 2023

Warrants liability

Option pricing

Stock price

$16.70

Exercise price

$20.20

Volatility

75.0%

Term

0.49 years

Risk-free rate

5.3%

Debt - Schedule of Total Long-Term Debt Obligations (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
Secured term loan	$ 45,000
Less: Unamortized debt discount and issuance costs	(3,832)
Total	41,168
Current portion of term loan	$ 500

- Definition

Amount of unamortized debt discount (premium) and debt issuance costs.

+ References + Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Revenue Recognition - Schedule of Contract Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 64,266	$ 63,826
Current and non-current contract assets	3,788	8,833
Current contract liabilities	45,464	48,912
Current customer advances	9,566	11,076
Non-current contract liabilities	$ 688	$ 605

Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit) (Tables)

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Schedule of Valuation Assumptions for Stock Options

The fair values of options at the date of grant, or when assumed by the Company, were estimated using the Black-Scholes option pricing model utilizing the following assumptions:


	Year Ended December 31,
		2022
Dividend yield (1)		0.0%
Expected volatility (2)		68.2% - 69.2%
Risk-free interest rate (3)		3.2% - 4.2%
Expected life of options (in years) (4)		6.18 - 6.25

(1) The Company has never declared or paid a cash dividend on its Common Stock and has no plans to pay cash dividends on Common Stock in the foreseeable future.

(3) The Company used rates on the grant date of zero-coupon government bonds with maturities over periods covering the term of the awards.

Schedule of Stock Options Activity

A summary of options granted, exercised, forfeited and expired during the years ended December 31, 2024, 2023 and 2022 is included below:


	Number of Shares	Weighted-Average Exercise Price
Options outstanding as of December 31, 2021	89,152	$	89.00
Options granted	47,400	50.00
Options exercised	(4,848)	27.00
Options forfeited	(3,114)	146.60
Options expired	(14,391)	291.40
Options outstanding as of December 31, 2022	114,199	$	48.40

Options exercised	(150)	18.20
Options forfeited	(760)	26.64
Options expired	(4,626)	96.42
Options outstanding as of December 31, 2023	108,663	$	46.56

Options exercised	(33)	18.20
Options forfeited	(887)	22.53
Options expired	(8,274)	102.19
Options outstanding as of December 31, 2024	99,469	$	42.15
Options exercisable as of December 31, 2024	75,269	$	39.83

Schedule of Options Outstanding Range of Exercise Prices

The following table summarizes information about options outstanding, and exercisable, as of December 31, 2024:


	Options Outstanding				Options Exercisable
Range of Exercise Prices	Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Options Exercisable	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
$11.40 - $50.00	84,304	$	38.14	6.04	60,104	$	33.62	5.39
$64.20 - $87.20	15,165	64.45		4.87	15,165	64.45		4.87

	99,469	$	42.15	5.86	75,269	$	39.83	5.28

Schedule of Unvested Stock Awards


	Restricted Stock Units	Weighted Average Grant-Date Fair Value
Unvested as of December 31, 2021	201,511	$	75.20
Granted	117,929	40.80

Vested	(74,656)	80.20
Forfeited	(12,554)	120.80
Unvested as of December 31, 2022	232,230	$	53.80
Granted	234,171	19.08

Vested	(152,422)	23.11
Forfeited	(255)	47.60
Unvested as of December 31, 2023	313,724	$	42.38
Granted	229,795	15.19
Vested	(140,901)	20.68
Forfeited	(20,987)	49.68
Unvested as of December 31, 2024	381,631	$	33.62

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization of Acquired Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 2,529
2026	2,529
Thereafter	0
Net Carrying Amount	$ 5,058	$ 8,115

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)
$ in Thousands

12 Months Ended

Dec. 31, 2024

USD ($)

Statement of Cash Flows [Abstract]

Temporary equity, initial fair value net of issuance costs

$ 19,600

Convertible redeemable preferred stock, net of issuance costs

$ 13,017

^[1]

[1]	Transactions for these line items were exclusively with related parties (refer to Footnote 4, Convertible Redeemable Preferred Stock and Stockholders' Equity (Deficit), and Footnote 13, Related Party Transactions, of the Notes to Consolidated Financial Statements for additional information).

Income Taxes - Schedule of Deferred Tax Asset Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Valuation Allowance [Roll Forward]
Beginning Balance	$ 251,253	$ 250,994
Additions from continuing operations	121	844
Reductions	(3,602)	(585)
Ending Balance	$ 247,772	$ 251,253

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Allowance for accounts receivable	$ 462	$ 614
Accounts receivable, net	64,266	63,826
Current liabilities:
Accounts payable	16,471	30,551
Accrued expenses	35,013	34,422
Contract liabilities	45,464	48,912
Non-current portion of accrued data costs	$ 33,551	$ 32,833
Convertible redeemable preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Convertible redeemable preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Convertible redeemable preferred stock, shares issued (in shares)	95,784,903	82,527,609
Convertible redeemable preferred stock, shares outstanding (in shares)	95,784,903	82,527,609
Stockholders' equity (deficit):
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	13,750,000	13,750,000
Common stock, shares issued (in shares)	5,228,814	5,093,380
Common stock, shares outstanding (in shares)	4,890,575	4,755,141
Treasury stock (in shares)	338,239	338,239
Related Party
Current assets:
Accounts receivable, net	$ 913	$ 786
Current liabilities:
Accounts payable	2,070	11,996
Accrued expenses	8,588	3,781
Contract liabilities	714	1,784
Non-current portion of accrued data costs	22,031	21,908
Convertible redeemable preferred stock, aggregate liquidation preference	$ 245,732	$ 228,132

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Component of Loss Before Income Tax

The components of loss before income tax provision are as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Domestic	$	(61,420)	$	(79,078)	$	(69,981)
Foreign	2,096		1,250		5,144
Total	$	(59,324)	$	(77,828)	$	(64,837)

Schedule of Income Tax Provision

Income tax provision is as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Current:
Federal	$	—	$	—	$	51
State	35		259		227
Foreign	1,730		1,309		1,921
Total	$	1,765	$	1,568	$	2,199
Deferred:
Federal	$	(60)	$	(128)	$	8
State	(359)		(687)		16
Foreign	(422)		780		(499)
Total	$	(841)	$	(35)	$	(475)
Income tax provision	$	924	$	1,533	$	1,724

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory U.S. income tax rate to the effective income tax rate is as follows:


	Years Ended December 31,
	2024		2023		2022
Statutory federal tax rate	21.0	%	21.0	%	21.0	%
State taxes	0.5	%	0.4	%	(0.3)	%
Other nondeductible/nontaxable items	(0.8)	%	(0.5)	%	3.7	%

Foreign rate differences	(0.4)	%	(0.3)	%	(0.4)	%
Change in valuation allowance	(3.9)	%	(4.9)	%	(10.7)	%
Stock compensation	(0.3)	%	(0.1)	%	(2.3)	%
Executive compensation	—	%	—	%	(0.1)	%
Goodwill impairment	(17.6)	%	(16.6)	%	(11.8)	%

Other adjustments	—	%	(1.0)	%	(1.7)	%
Uncertain tax positions	(0.1)	%	—	%	(0.1)	%
Effective tax rate	(1.6)	%	(2.0)	%	(2.7)	%

Schedule of Components of Net Deferred Tax Income Taxes

The components of net deferred income taxes are as follows:


	As of December 31,
(In thousands)	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	176,369	$	191,657
Lease liability	7,797		11,068
Deferred revenues	17,184		18,386
Deferred compensation	5,165		5,135
Accrued salaries and benefits	451		857
Tax credits	2,480		2,282
Tax contingencies	816		797
Allowance for doubtful accounts	103		112
Capital loss carryforwards	108		108

Property and equipment	4,735		—
Intangible assets	3,608		3,970
Capitalized research and development expense	34,815		25,693
Other	2,523		2,587
Gross deferred tax assets	$	256,154	$	262,652
Valuation allowance	(247,772)		(251,253)
Net deferred tax assets	$	8,382	$	11,399
Deferred tax liabilities:
Lease asset	$	(3,964)	$	(5,583)
Property and equipment	—		(824)

Subpart F income recapture	(1,411)		(1,384)
Goodwill	(1,274)		(2,341)

Total deferred tax liabilities	$	(6,649)	$	(10,132)
Net deferred tax asset	$	1,733	$	1,267

Schedule of Deferred Tax Asset Valuation Allowance Rollforward

A summary of the deferred tax asset valuation allowance is as follows:


	As of December 31,
(In thousands)	2024		2023
Beginning Balance	$	251,253	$	250,994
Additions from continuing operations	121		844

Reductions	(3,602)		(585)
Ending Balance	$	247,772	$	251,253

Schedule of Unrecognized Tax Benefits Roll Forward

Changes in the Company's unrecognized income tax benefits are as follows:


	As of December 31,
(In thousands)	2024		2023		2022
Beginning balance	$	2,043	$	2,026	$	2,052
Increase related to tax positions of the current year	49		39		25

Increase related to tax positions of prior years	—		10		—
Decrease related to tax positions of prior years	(29)		(7)		(22)

Decrease due to lapse in statutes of limitations	(207)		(25)		(29)
Ending balance	$	1,856	$	2,043	$	2,026

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2024

Other Liabilities Disclosure [Abstract]

Schedule of Accrued Expenses


	As of December 31,
(In thousands)	2024		2023
Accrued data costs	$	20,835	$	15,529
Payroll and payroll-related	8,566		10,604
Professional fees	2,360		2,203
Restructuring accrual	342		1,630
Other	2,910		4,456
Total accrued expenses	$	35,013	$	34,422

Summary of Significant Accounting Policies - Schedule of Common Stock Equivalents for Securities Outstanding Excluded from Computation of Diluted Net Loss per Share (Details) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024 USD ($)	Dec. 31, 2024 trading_day shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 29, 2023 $ / shares	Dec. 30, 2022 $ / shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Preferred Stock (in shares)		4,699,620	4,285,418	4,285,418
Warrants (in shares)		132,698	272,851	272,851
Stock options and restricted stock units (in shares)		295,249	294,388	249,081
Contingent consideration (in shares)		0	71,377	211,034
Total (in shares)		5,127,567	4,924,034	5,018,384
Weighted average trading days \| trading_day		10
Contingent consideration liability \| $			$ 1.2	$ 4.9
Closing price (in dollars per share) \| $ / shares					$ 16.70	$ 23.20
Contingent Consideration Liability, Third Installment
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Payment for contingent consideration liability \| $	$ 1.2

Related Party Transactions - Schedule of Transaction with Related Parties (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Revenues

^[1]

$ 356,047

$ 371,343

$ 376,423

Cost of revenues

^[1],[2],[3]

208,708

205,580

205,294

Assets

Accounts receivable, net

64,266

63,826

Liabilities

Accounts payable

16,471

30,551

Accrued expenses

35,013

34,422

Non-current portion of accrued data costs

33,551

32,833

Revenues

10,217

11,420

14,934

Assets

Accounts receivable, net

913

786

Liabilities

Accounts payable

2,070

11,996

Accrued expenses

8,588

3,781

Non-current portion of accrued data costs

22,031

21,908

Related Party | WPP

Revenues

6,953

8,281

11,677

Cost of revenues

8,781

9,350

9,391

Assets

Accounts receivable, net

687

525

Liabilities

Accounts payable

1,987

1,673

Accrued expenses

199

399

Contract liabilities

384

1,447

Related Party | Charter

Revenues

2,045

2,001

2,262

Cost of revenues

21,669

19,914

$ 17,580

Liabilities

Accounts payable

10,323

Accrued expenses

8,389

3,382

Non-current portion of accrued data costs

$ 22,031

$ 21,908

[1]

Transactions with related parties are included in the line items above as follows (refer to Footnote 13, Related Party Transactions, for further information):


	Years Ended December 31,
	2024		2023		2022
Revenues	$	10,217	$	11,420	$	14,934
Cost of revenues	30,450		29,265		26,971
Convertible redeemable preferred stock dividends	(17,600)		(16,270)		(15,513)

[2]

Excludes amortization of intangible assets, which is presented separately in the Consolidated Statements of Operations and Comprehensive Loss.

[3]

Stock-based compensation expense is included in the line items above as follows:


	Years Ended December 31,
	2024		2023		2022
Cost of revenues	$	221	$	533	$	1,144
Selling and marketing	126		380		1,021
Research and development	161		411		827
General and administrative	2,683		3,211		5,186
Total stock-based compensation expense	$	3,191	$	4,535	$	8,178

Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedules of Lease Cost and Supplemental Cash Flow Information

The components of lease cost were as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Finance lease cost
Amortization of right-of-use assets	$	3,651	$	1,929	$	2,364
Interest on lease liabilities	712		244		338
Total finance lease cost	$	4,363	$	2,173	$	2,702

Operating lease cost
Fixed lease cost	$	8,248	$	9,231	$	11,174
Short-term lease cost	73		86		150
Variable lease cost	987		1,077		1,369
Sublease income	(1,647)		(2,001)		(2,572)
Total operating lease cost	$	7,661	$	8,393	$	10,121

Lease costs, net of sublease income, are reflected in the Consolidated Statements of Operations and Comprehensive Loss as follows:


	Years Ended December 31,
(In thousands)	2024		2023		2022
Amortization of right-of-use assets
Cost of revenues	$	3,411	$	574	$	1,747
Selling and marketing	98		629		263
Research and development	90		470		216
General and administrative	52		256		138
Total amortization of right-of-use assets	$	3,651	$	1,929	$	2,364

Operating lease cost
Cost of revenues	$	2,643	$	2,497	$	3,030
Selling and marketing	2,192		2,738		3,391
Research and development	1,787		2,044		2,382
General and administrative	1,039		1,114		1,318
Total operating lease cost	$	7,661	$	8,393	$	10,121

Schedule of Maturities of Operating Lease Liabilities

Maturities of operating and finance lease liabilities as of December 31, 2024 were as follows:


(In thousands)	Operating Leases		Finance Leases
2025	$	10,594	$	4,245
2026	10,014		3,885
2027	5,821		1,559
2028	183		—
2029	91		—

Total lease payments	26,703		9,689
Less: imputed interest	3,300		946

Total lease liabilities	23,403		8,743
Less: current lease liabilities	8,598		3,660
Total non-current lease liabilities	$	14,805	$	5,083

Schedule of Maturities of Finance Lease Liabilities

Maturities of operating and finance lease liabilities as of December 31, 2024 were as follows:


(In thousands)	Operating Leases		Finance Leases
2025	$	10,594	$	4,245
2026	10,014		3,885
2027	5,821		1,559
2028	183		—
2029	91		—

Total lease payments	26,703		9,689
Less: imputed interest	3,300		946

Total lease liabilities	23,403		8,743
Less: current lease liabilities	8,598		3,660
Total non-current lease liabilities	$	14,805	$	5,083

Schedule of Future Expected Cash Receipts From Subleases

Future expected cash receipts from these subleases as of December 31, 2024 were as follows:


(In thousands)	Sublease Receipts
2025	$	2,018
2026	2,155
2027	1,145
2028 and thereafter	—

Total expected sublease receipts	$	5,318

Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 229,499	$ 229,620
Accumulated Amortization	(224,441)	(221,505)
Net Carrying Amount	5,058	8,115
Acquired methodologies and technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	154,400	154,409
Accumulated Amortization	(151,982)	(150,783)
Net Carrying Amount	2,418	3,626
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	46,529	46,623
Accumulated Amortization	(43,889)	(42,663)
Net Carrying Amount	2,640	3,960
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	14,364	14,366
Accumulated Amortization	(14,364)	(14,076)
Net Carrying Amount	0	290
Acquired software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	9,765	9,765
Accumulated Amortization	(9,765)	(9,526)
Net Carrying Amount	0	239
Panel
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,102	3,107
Accumulated Amortization	(3,102)	(3,107)
Net Carrying Amount	0	0
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	739	750
Accumulated Amortization	(739)	(750)
Net Carrying Amount	0	0
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	600	600
Accumulated Amortization	(600)	(600)
Net Carrying Amount	$ 0	$ 0

Segment Information - Schedule of Financial Information that is Presented to the CODM (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Segment Reporting Information [Line Items]

Revenues

^[1]

$ 356,047

$ 371,343

$ 376,423

Cost of revenues

^[1],[2],[3]

208,708

205,580

205,294

Stock-based compensation

3,191

4,535

8,178

Non-recurring expenses (income)

(651)

(42)

(9,785)

Interest expense, net

1,883

1,445

915

Taxes

924

1,533

1,724

Net loss

(60,248)

(79,361)

(66,561)

Content & Ad Measurement

Segment Reporting Information [Line Items]

Revenues

301,124

309,904

307,479

Syndicated Audience

Segment Reporting Information [Line Items]

Revenues

260,654

276,101

282,238

Cross Platform

Segment Reporting Information [Line Items]

Revenues

40,470

33,803

25,241

Research & Insight Solutions

Segment Reporting Information [Line Items]

Revenues

54,923

61,439

68,944

Reportable Segment

Segment Reporting Information [Line Items]

Revenues

356,047

371,343

376,423

Cost of revenues

136,831

137,722

137,163

Compensation

125,946

133,934

146,313

Professional fees

20,693

22,095

22,042

Facilities & office expense

10,263

11,034

12,915

Software licenses, maintenance and systems

12,498

12,576

12,770

Travel & entertainment

2,075

1,940

1,536

Other operating expenses

5,379

8,011

6,216

Total operating expenses

176,854

189,590

201,792

Depreciation & amortization

28,795

26,920

46,288

Stock-based compensation

3,191

4,535

8,178

Non-recurring expenses (income)

846

1,740

(5,646)

Restructuring & transformation

2,574

7,517

6,270

Impairment

64,397

79,702

46,300

Interest expense, net

1,883

1,445

915

Taxes

924

1,533

1,724

Net loss

(60,248)

(79,361)

(66,561)

Reportable Segment | Content & Ad Measurement

Segment Reporting Information [Line Items]

Revenues

301,124

309,904

307,479

Reportable Segment | Syndicated Audience

Segment Reporting Information [Line Items]

Revenues

260,654

276,101

282,238

Reportable Segment | Cross Platform

Segment Reporting Information [Line Items]

Revenues

40,470

33,803

25,241

Reportable Segment | Research & Insight Solutions

Segment Reporting Information [Line Items]

Revenues

$ 54,923

$ 61,439

$ 68,944

[1]

Transactions with related parties are included in the line items above as follows (refer to Footnote 13, Related Party Transactions, for further information):


	Years Ended December 31,
	2024		2023		2022
Revenues	$	10,217	$	11,420	$	14,934
Cost of revenues	30,450		29,265		26,971
Convertible redeemable preferred stock dividends	(17,600)		(16,270)		(15,513)

[2]

Excludes amortization of intangible assets, which is presented separately in the Consolidated Statements of Operations and Comprehensive Loss.

[3]

Stock-based compensation expense is included in the line items above as follows:


	Years Ended December 31,
	2024		2023		2022
Cost of revenues	$	221	$	533	$	1,144
Selling and marketing	126		380		1,021
Research and development	161		411		827
General and administrative	2,683		3,211		5,186
Total stock-based compensation expense	$	3,191	$	4,535	$	8,178

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Value of Goodwill

The change in the carrying value of goodwill is as follows:


	(In thousands)
Balance as of December 31, 2022 (1)	$	387,973
Impairment charge	(78,200)
Translation adjustments	587
Balance as of December 31, 2023	$	310,360
Impairment charge	(63,000)
Translation adjustments	(1,350)
Balance as of December 31, 2024	$	246,010

(1) Goodwill balance is net of an accumulated impairment charge of $270.6 million as of December 31, 2022.

Schedule of Carrying Values of Amortizable Acquired Intangible Assets

The carrying values of the Company's definite-lived intangible assets are as follows:


	As of				As of
	December 31, 2024				December 31, 2023
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired methodologies and technology	$	154,400	$	(151,982)	$	2,418	$	154,409	$	(150,783)	$	3,626
Customer relationships	46,529		(43,889)		2,640		46,623		(42,663)		3,960
Intellectual property	14,364		(14,364)		—		14,366		(14,076)		290
Acquired software	9,765		(9,765)		—		9,765		(9,526)		239
Panel	3,102		(3,102)		—		3,107		(3,107)		—
Trade names	739		(739)		—		750		(750)		—
Other	600		(600)		—		600		(600)		—
Total intangible assets	$	229,499	$	(224,441)	$	5,058	$	229,620	$	(221,505)	$	8,115

Schedule of Weighted Average Remaining Amortization Period

The weighted-average remaining amortization period by major asset class as of December 31, 2024 is as follows:


			(In years)
Acquired methodologies and technology			2.0
Customer relationships			2.0

Schedule of Estimated Future Amortization of Acquired Intangible Assets

The estimated future amortization of intangible assets is as follows:


	(In thousands)
2025	$	2,529
2026	2,529



Thereafter	—
Total	$	5,058

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Revenue Recognition - Schedule of Changes in Contract Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue recognized that was included in the opening contract liabilities balance	$ (48,438)	$ (49,470)
Cash received or amounts billed in advance and not recognized as revenue	$ 41,488	$ 44,349