Related-Party Transactions

9 Months Ended

Sep. 30, 2024

Related Party Transactions [Abstract]

Related-Party Transactions

Related-Party Transactions

For the three months ended September 30, 2024 and 2023, the Company recorded $1.1 million and $1.0 million, respectively, within operating expenses on the unaudited condensed consolidated statements of operations and comprehensive income (loss) for payments made to Woolly Labs, Inc. (d/b/a Vouched) (“Vouched”), a related-party company that provides identity verification services. For the nine months ended September 30, 2024 and 2023, the Company recorded $2.6 million and $2.0 million, respectively, for payments made to Vouched.

In addition, for the three and nine months ended September 30, 2023, the Company recorded $1.1 million and $3.3 million, respectively, within operating expenses on the unaudited condensed consolidated statements of operations and comprehensive income (loss) for payments made to Terminal, Inc., a former related-party company that provides professional services to the Company, primarily to support engineering and operations functions. As of January 1, 2024, Terminal, Inc. was no longer considered a related party.