| Balance Sheet Components |
6. Balance Sheet Components Accounts Receivable and Allowance for Credit Losses Accounts receivable, net of allowance for credit losses consists of the following: | | | | | | | | | | | | | September 30, 2025 | | December 31, 2024 | | (In thousands) | | Accounts receivable | $ | 325,271 | | | $ | 155,089 | | | Allowance for credit losses | (12,989) | | | (5,922) | | | Accounts receivable, net of allowance for credit losses | $ | 312,282 | | | $ | 149,167 | |
The allowance for credit losses consists of the following activity: | | | | | | | | | | | | | Nine Months Ended
September 30, 2025 | | Year Ended December 31, 2024 | | (In thousands) | Allowance for credit losses, beginning balance | $ | 5,922 | | | $ | 10,380 | | Provision for credit losses | 10,271 | | | 2,445 | | Write-offs, net of recoveries | (3,204) | | | (6,903) | | Allowance for credit losses, ending balance | $ | 12,989 | | | $ | 5,922 | |
Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consists of the following: | | | | | | | | | | | | | September 30, 2025 | | December 31, 2024 | | (In thousands) | | Prepaid taxes | $ | 20,957 | | | $ | 9,247 | | | Prepaid traffic acquisition costs | 7,723 | | | 11,379 | | | Prepaid software licenses | 5,466 | | | 2,233 | | | Other prepaid expenses and other current assets | 9,029 | | | 4,976 | | | Total prepaid expenses and other current assets | $ | 43,175 | | | $ | 27,835 | |
Property, Equipment and Capitalized Software, Net Property, equipment and capitalized software, net consists of the following: | | | | | | | | | | | | | September 30, 2025 | | December 31, 2024 | | (In thousands) | Capitalized software development costs(1) | $ | 99,575 | | | $ | 88,302 | | | Computer and equipment | 69,416 | | | 68,303 | | | Leasehold improvements | 4,244 | | | 3,036 | | | Software | 3,480 | | | 3,137 | | | Furniture and fixtures | 1,627 | | | 978 | | | Property, equipment, and capitalized software, gross | 178,342 | | | 163,756 | | | Less: accumulated depreciation and amortization | (128,644) | | | (118,506) | | | Total property, equipment and capitalized software, net | $ | 49,698 | | | $ | 45,250 | |
_____________________ (1) During the nine months ended September 30, 2025, in connection with the post-merger integration following the Acquisition, the Company decided to discontinue its vi video product offering and recorded a charge of $0.4 million to fully impair the remaining unamortized capitalized software development costs associated with this technology. Accrued and Other Current Liabilities Accrued and other current liabilities consists of the following: | | | | | | | | | | | | | September 30, 2025 | | December 31, 2024 | | (In thousands) | | Accrued agency commissions | $ | 65,044 | | | $ | 18,053 | | | Accrued tax liabilities | 23,749 | | | 9,002 | | | Operating lease obligations, current | 8,463 | | | 4,033 | | | Accrued professional fees | 8,324 | | | 18,630 | | | Interest payable | 7,955 | | | 58 | | | Other | 12,332 | | | 6,413 | | | Total accrued and other current liabilities | $ | 125,867 | | | $ | 56,189 | |
The Company’s accounts payable includes $224.3 million and $193.4 million of traffic acquisition costs as of September 30, 2025 and December 31, 2024, respectively.
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