Revenue and Contract Balances

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Leafly Holdings, Inc.[Member]

Revenue and Contract Balances [Line Items]

Revenue and Contract Balances

NOTE 8 — Revenue and Contract Balances

The following table presents revenue by service type for the six months ended June 30:

	2021		2020
Advertising	$	19,973	$	17,840
Other services		90		256
	$	20,063	$	18,096

The following table presents revenue by geographic region for the six months ended June 30:

	2021		2020
United States	$	18,163	$	16,259
All other countries		1,900		1,837
	$	20,063	$	18,096

The following table presents revenue by timing of recognition for the six months ended June 30:

	2021		2020
Over time	$	18,544	$	16,881
Point in time		1,519		1,215
	$	20,063	$	18,096

Revenues recognized over time are associated with software subscription and display ads. Revenues recognized at a point in time are associated with one-time content pushes to customers.

During the six months ended and as of June 30, 2021 and 2020, no individual customer accounted for 10% or more of consolidated revenue nor accounts receivable.

The allowances for doubtful accounts changed during the reporting period as follows:

Balance December 31, 2020	$	1,131
Add: provision for doubtful accounts		312
Less: write-offs, net of recoveries		(301	)
Balance June 30, 2021	$	1,142

Deferred revenue changed during the reporting period as follows:

Balance December 31, 2020	$	1,585
Add: net increase in current period contract liabilities		1,922
Less: revenue recognized from beginning balance		(1,428	)
Balance June 30, 2021	$	2,079

A majority of the deferred revenue balance as of June 30, 2021 is expected to be recognized in the subsequent 12-month period. No other contract assets or liabilities are recorded on the Company’s consolidated balance sheets as of June 30, 2021 or December 31, 2020.

NOTE 7 — Revenue and Contract Balances

The following table presents revenue by service type for the years ended December 31:

	2020		2019
Advertising	$	36,036	$	29,763
Other services		356		309
	$	36,392	$	30,072

The following table presents revenue by geographic region for the years ended December 31:

	2020		2019
United States	$	33,328	$	27,413
All other countries		3,064		2,659
	$	36,392	$	30,072

The following table presents revenue by timing of recognition for the years ended December 31:

	2020		2019
Over time	$	34,261	$	28,247
Point in time		2,131		1,825
	$	36,392	$	30,072

Revenues recognized over time are associated with software subscription and display ads. Revenues recognized at a point in time are associated with one-time content push to the customers.

During the years ended December 31, 2020 and 2019, no individual customer accounted for 10% or more of consolidated revenue nor accounts receivable.

The allowance for doubtful accounts as of December 31, 2020 and 2019, and the changes in the allowance for doubtful accounts during the years ended December 31, 2020 and 2019, are as follows:

	2020			2019
Balance, beginning of period	$	614		$	51
Add: provision for doubtful accounts		1,590			586
Less: write-offs, net of recoveries		(1,073	)		(23	)
Balance, end of period	$	1,131		$	614

Contract liabilities consist of deferred revenue, which is recorded on the consolidated balance sheets when the Company has received consideration, or has the right to receive consideration, in advance of transferring the performance obligations under the contract to the customer.

Changes in deferred revenue during the years ended December 31, 2020 and 2019, were as follows:

	2020			2019
Balance, beginning of period	$	2,086		$	2,131
Add: net increase in current period contract liabilities		1,585			2,086
Less: revenue recognized from beginning balance		(2,086	)		(2,131	)
Balance, end of period	$	1,585		$	2,086

A majority of the deferred revenue balance as of December 31, 2020, is expected to be recognized in the subsequent 12-month period ending December 31, 2021. No other contract assets or liabilities are recorded on the Company’s consolidated balance sheets as of December 31, 2020 and 2019.