Quarterly report pursuant to Section 13 or 15(d)

Prepaid expenses and other current assets (Tables)

v3.21.2
Prepaid expenses and other current assets (Tables)
 9 Months Ended
Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Prepaid expenses and other current assets
Prepaid expenses and other current assets are summarized as follows (in thousands):
September 30, 2021 December 31, 2020
Prepaid advertising contract with iHeart (1)
$ 2,095  $ 1,788 
Other prepaid expenses and other current assets (2)
1,631  2,286 
Total Prepaid expenses and other current assets $ 3,726  $ 4,074 
(1) On August 28, 2019, the Company entered into a radio advertising agreement with iHeart Media + Entertainment, Inc. and issued 166,667 shares of common stock valued at $3.4 million for future advertising services. The Company issued an additional 20,834 shares valued at $0.1 million on March 5, 2020 pursuant to the agreement. The current portion of the remaining value, reflected above, is the remaining value of services that the Company expects to utilize within the twelve months following the reporting period date, unless the term is extended. There was a long-term portion of $1.2 million recorded in other non-current assets as of December 31, 2020.
(2) As of September 30, 2021, this amount includes various other prepaid contracts. In December 2020, the Company entered into an agreement for access to an investment platform in exchange for 83,334 shares of common stock valued at $0.6 million and also entered into an agreement for marketing services in exchange for 83,334 shares of common stock valued at $0.5 million, both of which are being amortized over 12 months.