Related Parties |
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| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Parties |
Note S – Related Parties
The table below presents details of the Company’s related party transactions with AEI included on the condensed consolidated statements of operations and comprehensive income (loss) for the following periods:
All related party fees associated with AEI were incurred prior to the close of the Merger. Additionally, the Company made a $4.9 million payment to AEI in October 2020, which was repaid in February 2021.
As of June 30, 2022, Peter Cannito, the Company’s Chairman and Chief Executive Officer, and Kirk Konert, a member of the Company’s board of directors, also served on the board of directors for a current customer of the Company. During the three and six months ended June 30, 2022, the Company recognized related revenues of zero and $0.2 million, respectively and during the three and six months ended June 30, 2021 the Company recognized $2.1 million and $2.5 million, respectively. The Company had $0.2 million and $1.3 million related outstanding receivables as of June 30, 2022 and December 31, 2021, respectively.
In the normal course of business, the Company participates in related party transactions with certain vendors and customers where AEI maintains a significant ownership interest and/or can exhibit significant influence on the operations of such parties. For the three and six months ended June 30, 2022 and June 30, 2021, transactions with other companies in AEI’s investment portfolio did not have a material impact on the Company’s condensed consolidated financial statements.
Please refer to Note J, for related party transactions associated with the Company’s debt obligations.
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