XML 33 R22.htm IDEA: XBRL DOCUMENT v3.22.2
Related Parties
6 Months Ended
Jun. 30, 2022
Related Party Transactions [Abstract]  
Related Parties

15. Related Parties

Employment of Rongke Xie

Rongke Xie, who serves as General Manager of Guangzhou Casa Communication Technology LTD (“Casa China”), a subsidiary of the Company, is the sister of Lucy Xie, the Company’s Senior Vice President of Operations and a member of the Company’s board of directors. Casa China paid Rongke Xie $144 and $150 in total compensation during the six months ended June 30, 2022 and 2021, respectively, for her services as an employee.

To date, the Company has granted to Rongke Xie 116 RSUs which vest over four annual periods. The grant-date fair value of the awards totaled $500, which is recorded as stock-based compensation expense over the vesting period of the awards.

During the three months ended June 30, 2022 and 2021, the Company recognized selling, general and administrative expenses of $30 and $25 related to these awards and during the six months ended June 30, 2022 and 2021, the Company recognized selling, general and administrative expenses of $61 and $50 related to these awards.

Transactions Involving Verizon Communications Inc. and its Affiliates

As a result of the Company's SPA with Verizon Ventures LLC on April 18, 2022 (see Note 10, "Stockholders Equity"), Verizon Communications Inc. and its subsidiaries ("Verizon and Affiliates") became a principal stockholder of the Company through its ownership of common stock. Verizon and Affiliates are customers of the Company.

During the three months ended June 30, 2022, the Company recognized revenue of $10,550 from transactions with Verizon and Affiliates, and amounts received in cash from Verizon and Affiliates totaled $1,201. As of June 30, 2022, amounts due from Verizon and Affiliates totaled $26,213 and were included in accounts receivable, net in the condensed consolidated balance sheet. As of June 30, 2022, revenue from transactions which did not meet the criteria for recognition totaling $18,289 with Verizon and Affiliates were included in deferred revenue in the condensed consolidated balance sheet.