Quarterly report pursuant to Section 13 or 15(d)

Related Parties

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Related Parties
 6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Related Parties
Note P – Related Parties
A customer of the Company, Related Party A, was a related party as Peter Cannito, the Company’s Chairman, CEO and President, and Kirk Konert, a member of the Company’s Board, 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, 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
June 30, 2024 December 31, 2023
Accounts receivable:
Related Party A $ 532  $ — 
Related Party B 549  4,849 
$ 1,081  $ 4,849 
Three Months Ended Six Months Ended
June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023
Revenues:
Related Party A $ 418  $ 214  $ 516  $ 608 
Related Party B
 2,072  2,554  4,076  4,334 
$ 2,490  $ 2,768  $ 4,592  $ 4,942 

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, 2024 and 2023, respectively, 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 J – Convertible Preferred Stock, for related party transactions associated with the Company’s Convertible Preferred Stock.