Merger, Acquisition, and Restructuring Costs

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

Merger, Acquisition, and Restructuring Costs

Merger, Acquisition, and Restructuring CostsMerger, acquisition, and restructuring costs consist primarily of professional services fees and employee termination costs, including stock-based compensation charges, associated with the Telaria Merger, the SpotX Acquisition, and restructuring activities.

The following table summarizes merger, acquisition, and restructuring cost activity (in thousands):


	Three Months Ended			Nine Months Ended
		September 30, 2021		September 30, 2022		September 30, 2021
	(in thousands)
Professional services (investment banking advisory, legal and other professional services)		$	1,064	$	917	$	28,032
Personnel related (severance and one-time termination benefit costs)		1,312		1,227		6,176
Non-cash stock-based compensation (double-trigger acceleration and severance)		48		2,004		1,070
Impairment costs of abandoned technology		—		3,320		—
Loss contracts (lease related)		—		—		2,500
Total merger, acquisition, and restructuring costs		$	2,424	$	7,468	$	37,778

During the three and nine months ended September 30, 2022 and 2021, the Company incurred costs of zero and $7.5 million, respectively, and $2.4 million and $37.8 million, respectively, primarily related to restructuring expenses and costs associated with the acquisitions of SpotX and SpringServe.

Accrued restructuring costs related to mergers and acquisitions were $1.4 million and $2.7 million at September 30, 2022 and December 31, 2021, respectively, and were primarily related to the SpotX Acquisition, the SpringServe Acquisition, and the Telaria Merger. Accrued restructuring costs associated with personnel costs are included within accounts payable and accrued expenses and accruals related to the assumed loss contracts are included within other current liabilities and other liabilities, non-current on the Company's condensed consolidated balance sheets.


	(in thousands)
Accrued restructuring costs at December 31, 2021	$	2,742
Restructuring costs, personnel related and non-cash stock-based compensation	3,231
Restructuring costs, impairments	3,320

Cash paid for restructuring costs	(2,571)

Non-cash impairments	(3,320)
Non-cash stock-based compensation	(2,004)
Accrued restructuring costs at September 30, 2022	$	1,398