Annual report [Section 13 and 15(d), not S-K Item 405]

Related Parties

v3.25.0.1
Related Parties
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Parties
Note V – Related Parties
A customer of the Company, Related Party A, was a related party as Kirk Konert, a member of the Company’s Board, also serves on the board of directors for the customer effective as of the second quarter of 2022. Peter Cannito, the Company’s Chairman, CEO and President, also served on the board of directors for the customer from the second quarter of 2022 through the fourth quarter of 2024.

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 consolidated balance sheets and the consolidated statements of operations and comprehensive income (loss) for the following periods:
As of
December 31, 2024 December 31, 2023
Accounts receivable:
Related Party A $ 40  $ — 
Related Party B 748  4,849 
$ 788  $ 4,849 
Year Ended
December 31, 2024 December 31, 2023
Revenues:
Related Party A $ 1,428  $ 955 
Related Party B
 9,072  8,250 
$ 10,500  $ 9,205 

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 year ended December 31, 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 consolidated financial statements.
Please refer to Note O – Convertible Preferred Stock, for related party transactions associated with the Company’s Convertible Preferred Stock.