Quarterly report pursuant to Section 13 or 15(d)

Related Parties

v3.23.3
Related Parties
 9 Months Ended
Sep. 30, 2023
Related Party Transactions [Abstract]  
Related Parties
Note R – Related Parties
A customer of the Company, Related Party A, was a related party as Peter Cannito, the Company’s Chairman and Chief Executive Officer, and Kirk Konert, a member of the Company’s board of directors, also serve on the board of directors for the customer effective as of the second quarter of 2022.

A customer of the Company, Related Party B, was a related party as AEI acquired a majority interest in the customer during the fourth quarter of 2022 and Kirk Konert, a member of the Company’s board of directors, also serves on the board of directors for this customer.
The table below presents details of the Company’s related party transactions included on the condensed consolidated balance sheets and the condensed consolidated statements of operations and comprehensive income (loss) for the following periods:
As of
September 30, 2023 December 31, 2022
Accounts receivable:
Related Party A $ 265  $ — 
Related Party B —  258 
$ 265  $ 258 
Three Months Ended Nine Months Ended
Revenues: September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022
Related Party A $ 168  $ 677  $ 776  $ 871 
Related Party B(1)
1,497  —  5,831  — 
$ 1,665  $ 677  $ 6,607  $ 871 
(1) While revenue may have been generated during each of the periods presented, amounts are only disclosed for the periods in which the customer was a related party.
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 nine months ended September 30, 2023 and September 30, 2022, transactions with other companies in AEI’s investment portfolio, not separately disclosed, did not have a material impact on the Company’s condensed consolidated financial statements.
Please refer to Note K – Convertible Preferred Stock, for related party transactions associated with the Company’s Convertible Preferred Stock.