Acquisitions (Tables)

3 Months Ended

Mar. 31, 2024

Adsmurai, S.L

Business Acquisition [Line Items]

Summary of Purchase Price Allocation

The following is a summary of the final purchase price allocation (in millions):

Cash	$	7.4
Accounts receivable		11.9
Other assets		0.7
Fixed assets		2.8
Intangible assets subject to amortization		8.2
Goodwill		13.3
Current liabilities		(14.4	)
Deferred tax		(2.0	)
Debt		(2.8	)
Noncontrolling interest		(12.3	)
Convertible loan		(12.8	)

Summary of Intangible Assets Subject to Amortization Acquired

Intangible assets subject to amortization acquired includes:

Intangible Asset	Estimated Fair Value (in millions)		Weighted average life (in years)
Advertiser relationships	$	4.7	7.0
Existing technology		2.4	5.0
Trade name		1.1	5.0

Reconciliation of Changes in Redeemable Noncontrolling Interests

The table below presents the reconciliation of changes in redeemable noncontrolling interests (in thousands):

	Three-Month Period
	Ended March 31,
	2024			2023
Beginning balance January 1	$	43,758		$	-
Dividend accrued		(1,139	)		-
Net income (loss) attributable to redeemable noncontrolling interest		(2,779	)		-
Ending balance March 31	$	39,840		$	-

Jack of Digital

Business Acquisition [Line Items]

Reconciliation of Changes in Redeemable Noncontrolling Interests

The table below presents the reconciliation of changes in noncontrolling interests (in thousands):

	Three-Month Period
	Ended March 31,
	2024		2023
Beginning balance January 1	$	-	$	14,947
Dividend paid		-		(546	)
Transfer of noncontrolling interest to redeemable noncontrolling interest		-		-
Acquisition of noncontrolling interest		-		-
Net income (loss) attributable to noncontrolling interest		-		(342	)
Ending balance March 31	$	-	$	14,059

BCNMonetize

Business Acquisition [Line Items]

Summary of Purchase Price Allocation

The Company is in the process of completing the purchase price allocation for BCNMonetize. The following is a summary of the preliminary purchase price allocation (in millions):

Cash	$	0.8
Accounts receivable		2.8
Other assets		0.7
Intangible assets subject to amortization		4.2
Goodwill		3.5
Current liabilities		(2.1	)
Deferred tax		(1.1	)

Summary of Intangible Assets Subject to Amortization Acquired

Intangible assets subject to amortization acquired includes:

Intangible Asset	Estimated Fair Value (in millions)		Weighted average life (in years)
Publisher relationships	$	2.2	3.0
Advertiser relationships		1.5	1.0
Trade name		0.3	1.0
Non-Compete agreements		0.2	1.5

Schedule of Unaudited Pro Forma Information

The following unaudited pro forma information has been prepared to give effect to the Company’s acquisition of BCNMonetize as if the acquisition had occurred on January 1, 2023. This pro forma information was adjusted to exclude acquisition fees and costs of $0.2 million for the three-month period ended March 31, 2023, which were expensed in connection with the acquisition. This pro forma information does not purport to represent what the actual results of operations of the Company would have been had this acquisition occurred on such date, nor does it purport to predict the results of operations for any future periods.

In thousands, except share and per share data	Three-Month Period
	Ended March 31,
	2023
Pro Forma:
Total revenue	$	242,342
Net income (loss) attributable to common stockholders	$	2,973
Basic and diluted earnings per share:
Net income (loss) per share, attributable to common stockholders, basic and diluted	$	0.03
Weighted average common shares outstanding, basic		87,623,887
Weighted average common shares outstanding, diluted		89,786,585