Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

Agreements with Related Parties

Since the fourth quarter of 2021, the Company has provided e-signature and secure agreement automation services to a customer that is considered a related party because one of the Company’s Board members is an officer of the customer. The amount of revenue recognized for e-signature and secure agreement automation services during the years ended December 31, 2023, 2022, and 2021 was $1.1 million, $0.7 million, and $0.3 million, respectively, and is included in subscription revenue. The amount receivable as of December 31, 2023 and 2022 was $1.1 million and $1.0 million, respectively.

The Company purchased SMS subscription services and cloud operations services from vendors that were considered related parties during 2023 and/or 2022 because one of the Company’s Board members is, or was during the relevant period, an officer of the respective vendor. The total amount paid to the related parties during the years ended December 31, 2023 and 2022 was $1.3 million and $1.2 million, respectively, and is included in cost of goods sold. The amount payable at both December 31, 2023 and 2022 was $0.2 million.