AdTheorent Holding (ADTH) 10-Q 10 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 07, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	AdTheorent Holding Company, Inc.
Entity Central Index Key	0001838672
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		86,902,337
Entity Interactive Data Current	Yes
Entity File Number	001-40116
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-3978415
Entity Address, Address Line One	330 Hudson Street
Entity Address, Address Line Two	13th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10013
City Area Code	800
Local Phone Number	804-1359
Document Quarterly Report	true
Document Transition Report	false
Common Stock, Par Value $0.0001 Per Share
Document Information [Line Items]
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	ADTH
Security Exchange Name	NASDAQ
Warrants to Purchase Common Stock
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	ADTHW
Security Exchange Name	NASDAQ

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 67,842	$ 100,093
Accounts receivable, net	42,593	55,936
Income tax recoverable	99	95
Prepaid expenses	4,179	3,801
Total current assets	114,713	159,925
Property and equipment, net	572	409
Operating lease right-of-use asset	5,992	0
Investment in SymetryML Holdings	812	0
Customer relationships, net	5,594	8,986
Other intangible assets, net	6,804	7,608
Goodwill	34,842	35,778
Deferred income taxes, net	5,889	434
Other assets	369	402
Total assets	175,587	213,542
Current liabilities
Accounts payable	8,479	12,382
Accrued compensation	4,415	10,530
Accrued expenses	3,361	4,664
Operating lease liabilities, current	1,270	0
Total current liabilities	17,525	27,576
Revolver borrowings	0	39,017
SAFE Notes	0	2,950
Warrants	3,905	12,166
Seller's Earn-Out	2,417	18,081
Operating lease liabilities, non-current	6,518	0
Deferred rent	0	1,869
Total liabilities	30,365	101,659
Stockholders’ equity
Preferred Stock, $0.0001 per share, 20,000,000 shares authorized, no shares issued and outstanding as of September 30, 2022 and December 31, 2021
Common Stock, $0.0001 par value, 350,000,000 shares authorized; 86,691,430 and 85,743,994 shares issued and outstanding as of September 30, 2022 and December 31, 2021	9	9
Additional paid-in capital	80,939	70,778
Retained earnings	64,274	42,512
Total stockholders' equity attributable to AdTheorent Holding Company, Inc.	145,222	113,299
Noncontrolling interests in consolidated subsidiaries	0	(1,416)
Total stockholders' equity	145,222	111,883
Total liabilities and stockholders' equity	$ 175,587	$ 213,542

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred Stock, Shares Issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	350,000,000	350,000,000
Common stock, shares issued	86,691,430	85,743,994
Common stock, shares outstanding	86,691,430	85,743,994

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 37,584	$ 39,534	$ 114,301	$ 110,368
Operating expenses:
Platform operations	19,581	19,217	58,207	52,368
Sales and marketing	11,127	9,209	32,540	25,689
Technology and development	3,955	2,913	12,393	8,046
General and administrative	4,729	3,073	15,433	13,187
Total operating expenses	39,392	34,412	118,573	99,290
(Loss) income from operations	(1,808)	5,122	(4,272)	11,078
Interest income (expense), net	97	(598)	(59)	(1,808)
Gain on change in fair value of Seller's Earn-Out	2,901	0	15,664	0
Gain on change in fair value of warrants	5,674	0	8,261	0
Gain on deconsolidation of SymetryML	0	0	1,939	0
Loss on change in fair value of SAFE Notes	0	0	(788)	0
Loss on fair value of investment in SymetryML Holdings	(39)	0	(49)	0
Other (expense) income, net	(5)	0	(24)	20
Total other income (expense), net	8,628	(598)	24,944	(1,788)
Net income before (provision) benefit for income taxes	6,820	4,524	20,672	9,290
(Provision) benefit for income taxes	(1,095)	(1,569)	540	(3,141)
Net income	5,725	2,955	21,212	6,149
Less: Net loss attributable to noncontrolling interest	0	198	550	539
Net income attributable to AdTheorent Holding Company, Inc.	$ 5,725	$ 3,153	$ 21,762	$ 6,688
Earnings per share:
Basic	$ 0.07	$ 0.05	$ 0.25	$ 0.11
Diluted	$ 0.06	$ 0.05	$ 0.23	$ 0.10
Weighted-average common shares outstanding:
Basic	86,492,025	59,882,523	86,003,514	59,882,523
Diluted	92,122,421	66,971,147	92,885,851	64,795,030

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Noncontrolling Interests
Balance at the beginning at Dec. 31, 2020	$ 61,267	$ 6	$ 45,584	$ 16,309	$ (632)
Balance at the beginning (in shares) at Dec. 31, 2020		59,853,276
Equity-based compensation	164		164
Exercises of options	10		10
Exercises of options (in shares)		20,645
Net (loss) income	1,833			2,003	(170)
Balance at the end at Mar. 31, 2021	63,274	$ 6	45,758	18,312	(802)
Balance at the end (in shares) at Mar. 31, 2021		59,873,921
Balance at the beginning at Dec. 31, 2020	61,267	$ 6	45,584	16,309	(632)
Balance at the beginning (in shares) at Dec. 31, 2020		59,853,276
Net (loss) income	6,149
Balance at the end at Sep. 30, 2021	67,816	$ 6	45,984	22,997	(1,171)
Balance at the end (in shares) at Sep. 30, 2021		59,882,523
Balance at the beginning at Mar. 31, 2021	63,274	$ 6	45,758	18,312	(802)
Balance at the beginning (in shares) at Mar. 31, 2021		59,873,921
Equity-based compensation	108		108
Exercises of options	8		8
Exercises of options (in shares)		8,602
Net (loss) income	1,361			1,532	(171)
Balance at the end at Jun. 30, 2021	64,751	$ 6	45,874	19,844	(973)
Balance at the end (in shares) at Jun. 30, 2021		59,882,523
Equity-based compensation	110		110
Net (loss) income	2,955			3,153	(198)
Balance at the end at Sep. 30, 2021	67,816	$ 6	45,984	22,997	(1,171)
Balance at the end (in shares) at Sep. 30, 2021		59,882,523
Balance at the beginning at Dec. 31, 2021	111,883	$ 9	70,778	42,512	(1,416)
Balance at the beginning (in shares) at Dec. 31, 2021		85,743,994
Equity-based compensation	1,988		1,988
Seller's Earn-Out equity-based compensation	492		492
Conversion of SAFE Note into SymetryML Preferred Stock	3,938				3,938
SymetryML preferred Stock Issuance	400				400
Deconsolidation of SymetryML	(2,372)				(2,372)
Net (loss) income	(42,290)			(41,740)	(550)
Balance at the end at Mar. 31, 2022	74,039	$ 9	73,258	772
Balance at the end (in shares) at Mar. 31, 2022		85,743,994
Balance at the beginning at Dec. 31, 2021	$ 111,883	$ 9	70,778	42,512	$ (1,416)
Balance at the beginning (in shares) at Dec. 31, 2021		85,743,994
Exercises of options (in shares)	600,551
Net (loss) income	$ 21,212
Balance at the end at Sep. 30, 2022	145,222	$ 9	80,939	64,274
Balance at the end (in shares) at Sep. 30, 2022		86,691,430
Balance at the beginning at Mar. 31, 2022	74,039	$ 9	73,258	772
Balance at the beginning (in shares) at Mar. 31, 2022		85,743,994
Equity-based compensation	3,856		3,856
Seller's Earn-Out equity-based compensation	499		499
Exercises of options	183		183
Exercises of options (in shares)		355,629
Exercises of warrants (in shares)		10
Transaction cost adjustment	55		55
Net (loss) income	57,777			57,777
Balance at the end at Jun. 30, 2022	136,409	$ 9	77,851	58,549
Balance at the end (in shares) at Jun. 30, 2022		86,099,633
Equity-based compensation	2,783		2,783
Seller's Earn-Out equity-based compensation	373		373
Exercises of options	163		163
Exercises of options (in shares)		244,922
Vesting of restricted stock, net of shares withheld for taxes	(231)		(231)
Vesting of restricted stock, net of shares withheld for taxes (in shares)		346,875
Net (loss) income	5,725			5,725
Balance at the end at Sep. 30, 2022	$ 145,222	$ 9	$ 80,939	$ 64,274
Balance at the end (in shares) at Sep. 30, 2022		86,691,430

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net income	$ 5,725	$ 2,955	$ 21,212	$ 6,149
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for bad debt	68	7	240	8
Amortization expense	1,922	2,093	5,872	6,247
Depreciation expense	51	37	143	107
Amortization of debt issuance costs			42	118
Gain on change in fair value of Seller's Earn-Out	(2,901)	0	(15,664)	0
Gain on change in fair value of warrants	(5,674)	0	(8,261)	0
Gain on deconsolidation of SymetryML	0	0	(1,939)	0
Loss on change in fair value of SAFE Notes	0	0	788	0
Loss on fair value of investment in SymetryML Holdings			49	0
Deferred tax benefit			(5,455)	(1,598)
Equity-based compensation			8,627	382
Seller's Earn-Out equity-based compensation			1,364	0
Changes in operating assets and liabilities:
Accounts receivable			13,103	8,121
Income taxes recoverable			(4)	86
Prepaid expenses and other assets			337	(986)
Accounts payable			(3,911)	(4,291)
Accrued expenses and other liabilities			(8,104)	(6,058)
Net cash provided by operating activities			8,439	8,285
Cash flows from investing activities
Capitalized software development costs			(2,008)	(1,588)
Purchase of property and equipment			(311)	(143)
Decrease in cash from deconsolidation of SymetryML			(69)	0
Net cash used in investing activities			(2,388)	(1,731)
Cash flows from financing activities
Cash received for exercised options			346	18
Payment of revolver borrowings			(39,017)	0
Proceeds from SAFE Notes			200	1,225
Proceeds from SymetryML preferred stock issuance			400	0
Payment of term loan			0	(1,819)
Taxes paid related to net settlement of restricted stock awards			(231)
Net cash used in financing activities			(38,302)	(576)
Net (decrease) increase in cash and cash equivalents			(32,251)	5,978
Cash, cash equivalents and restricted cash at beginning of period			100,093	16,767
Cash, cash equivalents and restricted cash at end of period	67,842	22,745	67,842	22,745
Cash and cash equivalents	67,842	22,640	67,842	22,640
Restricted cash	0	105	0	105
Cash, cash equivalents and restricted cash at end of period	$ 67,842	$ 22,745	67,842	22,745
Supplemental disclosure of cash flow information
Increase in lease liabilities from obtaining right-of-use assets - ASC 842 adoption			8,376	0
Increase in lease liabilities from obtaining right-of-use assets			214	0
Non-cash investing and financial activities
Capitalized software and property and equipment, net included in accounts payable			$ 56	$ 9

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. DESCRIPTION OF BUSINESS AdTheorent Holding Company Inc. and its subsidiaries (the “Company”, “AdTheorent”), is a digital media platform which focuses on performance-first, privacy-forward methods to execute programmatic digital advertising campaigns, serving both advertising agency and brand customers. The Company uses machine learning and advanced data science to organize, analyze and operationalize non-sensitive data to deliver real-world value for customers. Central to its ad-targeting and campaign optimization methods, the Company builds custom machine learning models for each campaign using historic and real-time data to predict future consumer conversion actions for every digital ad impression. The Company’s machine learning models are customized for every campaign and the platform “learns” over the course of each campaign as it processes more data related to post media view conversion experience. AdTheorent is a Delaware corporation headquartered in New York, New York.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying Condensed Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the operations of the Company. All intercompany transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company's financial position as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021. The Condensed Consolidated Balance Sheet as of December 31, 2021, has been derived from the Company's audited consolidated financial statements as of that date. The Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 , which include a complete set of footnote disclosures, including the Company's significant accounting policies. The results for interim periods are not necessarily indicative of the results that may be expected for a full fiscal year or for any other future period. Retroactive Application of Recapitalization As discussed in Note 3 – Business Combination included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 , the business combination that occurred on December 22, 2021 (“Business Combination”) was accounted for as a reverse recapitalization ("Reverse Recapitalization") of equity structure, whereby at the closing of the Business Combination, the outstanding Class A, B and C units of AdTheorent Holding Company, LLC, a Delaware limited liability company (“Legacy AdTheorent”) and the outstanding stock options and Restricted Interest Units of Legacy AdTheorent were exchanged for the Company’s Common Stock and equity awards using a ratio (“Exchange Ratio”) of 1.376 and 1.563 , respectively. Accordingly, pursuant to GAAP, the Condensed Consolidated Financial Statements and the related notes have been recast and are presented on an if-converted basis using the respective Exchange Ratio. In addition, the Exchange Ratio is utilized for calculating earnings per share in all prior periods presented. Summary of Significant Accounting Policies There have been no material changes in the Company's significant accounting policies during the nine months ended September 30, 2022 , as compared to the significant accounting policies described in Note 2 to the Consolidated Financial Statements for the year ended December 31, 2021, except as detailed below. Leases The Company adopted Accounting Standards Codification ("ASC") Topic 842, Leases (“ASC 842”) on January 1, 2022 using the cumulative effect transition method for leases in existence as of the date of adoption. The reported results for 2022 reflect the application of ASC 842 guidance while the reported results for 2021 were prepared under the previous guidance of ASC 840, Leases (“ASC 840”). The adoption of ASC 842 represents a change in accounting principle that recognizes right-of-use (“ROU”) assets and lease liabilities arising from all leases based on the present value of future minimum lease payments over the lease term. Consistent with ASC 840, lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company’s adoption of ASC 842 had no impact on the Condensed Consolidated Statements of Operations or the Condensed Consolidated Statement of Cash Flows. The Company elected the package of practical expedients permitted under the transition guidance within ASC 842, which allows for the following: (i) to carry forward the historical lease classification, (ii) not to reassess whether any existing contract contains a lease and (iii) not to reassess initial direct costs for existing leases. The Company categorizes leases at their inception as either operating or finance leases. Operating leases are classified as non-current operating lease right-of-use assets and current and non-current operating lease liabilities on the Condensed Consolidated Balance Sheet. The Company did no t have any finance leases upon adoption on January 1, 2022 or as of September 30, 2022. Adoption of ASC 842 resulted in the recognition of operating right-of-use assets of $ 6,507 , along with associated operating lease liabilities of $ 8,376 as of January 1, 2022. The difference between the operating lease ROU assets and total operating lease liabilities is the reclassification of previously recognized deferred rent liabilities against operating lease ROU assets. The adoption of ASC 842 did not result in an adjustment to retained earnings and it did not impact the Company's deferred tax assets or liabilities. The Company’s operating leases are primarily for real property in support of its business operations. Although the Company's leases may contain renewal options, the Company is generally not reasonably certain to exercise these options at the commencement date. Accordingly, renewal options are generally not included in the lease term for determining the ROU asset and lease liability at commencement. The Company has elected to account for lease components and non-lease components as a single lease component. Payments to lessors for reimbursement of real estate taxes, common area maintenance costs or insurance as applicable are generally variable in nature and are also expensed as incurred as variable lease costs and not included in the right-of-use assets or lease liabilities. Variable lease payment amounts that cannot be determined at lease commencement such as increases in lease payments based on changes in index rates or usage, are not included in the right-of-use assets or liabilities. Such variable payments are expensed as incurred. Discount rates are determined based on the Company’s incremental borrowing rate as the Company’s leases generally do not provide an implicit rate. See Note 19 – Leases for further details. Fair Value Option Investments The fair value option provides an option to elect fair value as an alternative measurement for selected financial instruments. Unrealized gains and losses on items for which the fair value option has been elected are reported in earnings. The decision to elect the fair value option is determined on an instrument-by-instrument basis and must be applied to an entire instrument and is irrevocable once elected. The Company has investments in the common stock of SymetryML Holdings, LLC (“SymetryML Holdings”) for which it has the ability to exercise significant influence. The Company has made an irrevocable election to account for those investments at fair value. Estimating the fair values of these investments requires significant judgment regarding of the assumptions that market participants would use in pricing those assets. See Note 18 – SymetryML and SymetryML Holdings for further details. Liquidity As of September 30, 2022, the Company had cash of $ 67,842 and working capital, consisting of current assets, less current liabilities, of $ 97,188 . The Company believes its e xisting cash and cash flow from operations will be sufficient to meet the Company’s working capital requirements for at least the next 12 months. Emerging Growth Company From time to time, new accounting pronouncements, or Accounting Standard Updates (“ASU”) are issued by the Financial Accounting Standards Board ("FASB"), or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption. The Company is an emerging growth company (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”) and may take advantage of reduced reporting requirements that are otherwise applicable to public companies. Section 107 of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with those standards. This means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company has the option to adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and can do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company has elected to use the extended transition period for complying with new or revised accounting standards unless the Company otherwise early adopts select standards. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements ASU No. 2016-02, Leases (Topic 842) In February 2016, the FASB issued ASC 842, which sets out the principles for the recognition, measurement, and presentation of all leases on the balance sheet as well as provides for additional lease disclosure requirements. The Company adopted ASC 842 on January 1, 2022 using the cumulative effect transition method for leases in existence as of the date of adoption. See above for the Company's accounting policy for leases under ASC 842 and the impact from adoption. ASU No. 2020-04, Reference Rate Reform (Topic 848) In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”), subsequently clarified in January 2021 by ASU No. 2021-01, Reference Rate Reform (Topic 848) (“ASU 2021-01”). The main provisions of this update provide optional expedients and exceptions for contracts, hedging relationships, and other transactions that reference the London Inter-bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The guidance in ASU 2020-04 and ASU 2021-01 was effective upon issuance and, once adopted, may be applied prospectively to contract modifications and hedging relationships through December 31, 2022. The Company adopted ASU 2020-04 on January 1, 2022 . The adoption did not have a material effect on the Company's Condensed Consolidated Financial Statements. Accounting Pronouncements Issued Not Yet Adopted ASU No. 2019-12, Income Taxes – Simplifying the Accounting for Income Taxes (Topic 740) In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) (“ASU 2019-12”), which is part of the FASB’s overall simplification initiative to reduce the costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. ASU 2019-12 simplifies accounting guidance for intra-period allocations, deferred tax liabilities, year-to-date losses in interim periods, franchise taxes, step-up in tax basis of goodwill, separate entity financial statements, and interim recognition of tax laws or rate changes. ASU 2019-12 is effective for emerging growth companies following private company adoption dates in fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the new guidance and does not believe it will have a material impact on the Condensed Consolidated Financial Statements. ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires entities to estimate all expected credit losses for certain types of financial instruments, including trade receivables, held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The updated guidance also expands the disclosure requirements to enable users of financial statements to understand the entity’s assumptions, models and methods for estimating expected credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument. ASU 2016-13, as subsequently amended for various technical issues, is effective for emerging growth companies following private company adoption dates for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitte d. The Company is currently evaluating the new guidance and does not believe it will have a material impact on the Condensed Consolidated Financial Statements.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	3. REVENUE RECOGNITION ASC 606, Revenue from Contracts with Customers Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the Company expects to receive in exchange for those goods or services. The Company measures revenue based on the consideration specified in the customer arrangement, and revenue is recognized when the performance obligations in the customer arrangement are satisfied. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when or as the customer receives the benefit of the performance obligation. The Company’s revenue streams include Managed Programmatic revenue and Direct Access revenue. Direct Access revenue is new to the market and not yet material to the Company from a financial reporting perspective. The Company has elected to expense the costs to obtain or fulfill a contract as incurred because the amortization period of the asset that the Company otherwise would have recognized is one year or less. Therefore, there were no contract cost assets recognized as of September 30, 2022 or December 31, 2021. The Company has elected not to disclose the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) as of the end of the reporting period for performance obligations with a remaining performance obligation that is part of a contract that has an original expected duration of one year or less. Contract assets and contract liabilities related to the Company’s revenue streams were not significant to accompanying Condensed Consolidated Financial Statements.

Accounts Receivable, Net

Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Accounts Receivable, Net	4. ACCOUNTS RECEIVABLE, Net Accounts receivable, net consisted of the following: September 30, December 31, 2022 2021 Accounts receivables 43,095 56,180 Other receivables 103 121 43,198 56,301 Less: allowance for doubtful accounts ( 605 ) ( 365 ) Accounts receivable, net 42,593 55,936 The provision for bad debt expense on accounts receivable was $ 68 and $ 7 for the three months ended September 30, 2022 and 2021, respectively, and $ 240 and $ 8 for the nine months ended September 30, 2022 and 2021, respectively. The following table presents changes in the allowance for doubtful accounts: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Beginning balance $ 537 $ 448 $ 365 $ 457 Reserve for doubtful accounts 68 99 246 188 Write-offs, net of recoveries — ( 188 ) ( 6 ) ( 286 ) Ending balance $ 605 $ 359 $ 605 $ 359

Prepaid Expenses

Prepaid Expenses	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses	5. PREPAID EXPENSES Prepaid expenses consisted of the following: September 30, December 31, 2022 2021 Income taxes $ 1,528 $ 2,683 Platform operations 963 222 Insurance 755 62 Sales and marketing 427 62 Other 506 772 Total $ 4,179 $ 3,801

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	6. PROPERTY AND EQUIPMENT, Net Property and Equipment, net consisted of the following: September 30, December 31, 2022 2021 Computers and equipment $ 975 $ 798 Less: accumulated depreciation ( 403 ) ( 389 ) Total $ 572 $ 409 Depreciation expense on Property and Equipment was $ 51 and $ 37 for the three months ended September 30, 2022 and 2021, respectively, and $ 143 and $ 107 for the nine months ended September 30, 2022 and 2021 , respectively.

Intangible Assets, Net

Intangible Assets, Net	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	7. INTANGIBLE ASSETS, Net Intangible assets, net consisted of the following: September 30, 2022 Remaining Weighted Average Useful Life (in years) Gross amount Accumulated amortization Net carrying amount Software — $ 6,038 $ ( 6,038 ) $ — Capitalized software costs 1.1 9,430 ( 6,950 ) 2,480 Customer relationships 1.3 31,492 ( 25,898 ) 5,594 Trademarks/tradename 4.3 10,195 ( 5,871 ) 4,324 Total $ 57,155 $ ( 44,757 ) $ 12,398 December 31, 2021 Remaining Weighted Average Useful Life (in years) Gross amount Accumulated amortization Net carrying amount Software 1.0 $ 9,124 $ ( 8,653 ) $ 471 Capitalized software costs 1.0 7,366 ( 5,335 ) 2,031 Customer relationships 2.0 31,726 ( 22,740 ) 8,986 Trademarks/tradename 5.0 10,240 ( 5,134 ) 5,106 Total $ 58,456 $ ( 41,862 ) $ 16,594 Amortization expense was included in the Company’s Condensed Consolidated Statements of Operations as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Platform operations $ 549 $ 505 $ 1,615 $ 1,482 Sales and marketing 1,370 1,369 4,110 4,110 Technology and development — 140 140 419 General and administrative 3 79 7 236 Total $ 1,922 $ 2,093 $ 5,872 $ 6,247 Total amortization expense for the three months ended September 30, 2022 and 2021 was $ 1,922 and $ 2,093 , respectively, and for the nine months ended September 30, 2022 and 2021 was $ 5,872 and $ 6,247 , respectively. Amortization expense for capitalized software costs for the three months ended September 30, 2022 and 2021 was $ 549 and $ 505 , respectively, and for the nine months ended September 30, 2022 and 2021 was $ 1,614 and $ 1,482 , respectively. Estimated future amortization of intangible assets as of September 30, 2022 is as follows: Remainder of 2022 $ 1,908 2023 7,023 2024 1,427 2025 1,016 2026 1,016 Thereafter 8 Total $ 12,398

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	8. GOODWILL Balance as of December 31, 2021 $ 35,778 Deconsolidation of SymetryML ( 936 ) Balance as of September 30, 2022 $ 34,842

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses	9. ACCRUED EXPENSES Accrued expenses consisted of the following: September 30, 2022 December 31, 2021 Campaign costs $ 2,060 $ 2,718 Platform operations 389 191 Deferred revenues 282 207 Professional services 133 648 Sales and use taxes 12 233 Other 485 667 Total $ 3,361 $ 4,664

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	10. DEBT On December 22, 2021, the Company entered into a senior secured credit facilities credit agreement (the “Senior Secured Agreement”) with SVB. The Company is subject to customary representations, warranties, and covenants. The Senior Secured Agreement requires that the Company meet certain financial and non-financial covenants which include, but are not limited to, (i) delivering audited consolidated financial statements to the lender within 90 days after year-end commencing with the fiscal year ending December 31, 2022 financial statements, (ii) delivering unaudited quarterly consolidated financial statements within 45 days after each fiscal quarter, commencing with the quarterly period ending on March 31, 2022 and (iii) maintaining certain leverage ratios and liquidity coverage ratios. As of September 30, 2022, the Company was in full compliance with the terms of the Senior Secured Agreement. As of September 30, 2022 and December 31, 2021, the Company had one letter of credit for approximately $ 983 . As o f December 31, 2021 the remainder of $ 39,017 was drawn on the revolving credit facility. The total amount drawn as of December 31, 2021 was repaid in January 2022. As of September 30, 2022, there were no amounts drawn on the revolving credit facility.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. INCOME TAXES For the three months ended September 30, 2022 and 2021, the Company recorded an income tax provision of $ 1,095 and $ 1,569 , respectively, and for the nine months ended September 30, 2022 and 2021, respectively, and an income tax benefit (provision) of $ 540 and $ ( 3,141 ) , respectively. The annual effective income tax rates before discrete items (“AETR”) for the nine months ended September 30, 2022 and 2021 was 9.4 % and 33.8 %, respectively. The AETR for the nine months ended September 30, 2022 was lower than the statutory rate of 21 % primarily due to meals and entertainment and stock option executive expense not expected to be deductible in the future. The Company did not include any fair value adjustments not reasonably estimable for the full year in the calculation of its AETR as the full year impact of these specific items cannot be reasonably projected. Refer to Note 14 – Seller's Earn-out and Note 15 – Warrants for further detail on fair value adjustments for the Seller's Earn-Out and warrant liabilities, respectively. As of each reporting date, the Company considers new evidence, both positive and negative, that could impact its view with regard to future realization of deferred tax assets. As of September 30, 2022 , the Company had no t recorded a valuation allowance on the Company's deferred tax assets after considering all of the available evidence. As of December 31, 2021, a valuation allowance was previously recorded on the deferred tax assets of SymetryML, however, on March 31, 2022, SymetryML was deconsolidated from the Company. Refer to Note 18— SymetryML and SymetryML Holdings for fu rther detail.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	12. EQUITY-BASED COMPENSATION Stock Option Award Activity The following table summarizes stock option activity for the nine months ended September 30, 2022: Stock Options Weighted-Average Exercise Price Outstanding as of December 31, 2021 7,726,830 $ 0.60 Exercised ( 600,551 ) 0.58 Forfeited ( 3,908 ) 0.74 Outstanding as of September 30, 2022 7,122,371 $ 0.61 Exercisable as of September 30, 2022 6,699,803 $ 0.60 Restricted Stock Award Activity On April 13, 2022, the Company granted 45,157 Restricted Stock Units ("RSUs") at a fair value of $ 8.92 per share to employees. On March 11, 2022, the Company grant ed 3,287,750 RSUs at a fair value of $ 9.57 per share to employees and Board members. The vesting conditions for the RSUs are a mix of time-based and performance-based vesting conditions. The RSUs with performance-based vesting conditions are based on achievement of revenue or certain annual Adjusted Earnings Before Interest, Income Tax, Depreciation and Amortization (“Adjusted EBITDA”) targets . No compensation expense has been recognized on the RSUs with performance-based vesting conditions for the three or nine months ended September 30, 2022 on the basis that achievement of the specified performance targets is not yet considered probable to be met. The following summarizes RSU activity for the nine months ended September 30, 2022: Restricted Stock Units Weighted-Average Grant Date Fair Value Outstanding as of December 31, 2021 846,797 $ 7.95 Granted 3,332,907 9.56 Vested ( 423,390 ) 7.95 Forfeited ( 87,826 ) 9.44 Outstanding as of September 30, 2022 3,668,488 $ 9.38 Employee Stock Purchase Plan On December 21, 2021, the Company’s stockholders approved the AdTheorent Holding Company, Inc. Employee Stock Purchase Plan (the “ESPP”), in connection with the Business Combination and became effective immediately upon the closing of the Business Combination on December 22, 2021. Under the ESPP, an aggregate of 2,026,328 shares of common stock (subject to certain adjustments to reflect changes in the Company’s capitalization) are reserved and may be purchased by eligible employees who become participants in the ESPP. The purchase price per share of the common stock is the lesser of 85 % of the fair market value of a share of common stock on the offering date or 85 % of the fair market value of a share of common stock on the purchase date. The first offering period under the ESPP began August 15, 2022. As of September 30, 2022, there were 2,026,328 shares of common stock available for issuance pursuant to the ESPP. The first purchase date is January 14, 2023. Total compensation expense related to the ESPP was $ 27 for the three and nine months ended September 30, 2022, classified within each applicable operating expense category on the accompanying Consolidated Statements of Operations and in the equity-based compensation table below. The fair value of the purchase rights granted under the ESPP for the offering period beginning August 15, 2022 was $ 1.03 . It was estimated by applying the Black-Scholes option-pricing model to the purchase period in the offering period using the following assumptions: August 15, 2022 Grant price $ 2.67 Expected term 5 months Expected volatility 90.7 % Risk-free interest rate 3.0 % Expected dividend yield 0.0 % Grant price - Closing stock price on the first day of the offering period Expected Term - The expected term is based on the end date of the purchase period of each offering period, which is three months from the commencement of each new offering period. Expected volatility - The expected volatility is based on historical volatility of the Company’s stock as well as the implied volatility from publicly traded options on the Company’s stock. Risk-free interest rate - The risk-free interest rate is based on a U.S. Treasury rate in effect on the date of grant with a term equal to the expected term. Equity-Based Compensation Expense The following table summarizes the total equity-based compensation expense included in the Condensed Consolidated Statements of Operations: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Platform operations $ 485 $ — $ 1,365 $ — Sales and marketing 920 — 2,773 — Technology and development 424 — 1,448 — General and administrative 954 110 3,041 382 Total equity-based compensation expense $ 2,783 $ 110 $ 8,627 $ 382 As of September 30, 2022 , there was approximately $ 68 of total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized over a weighted average period of 0.3 years. As of September 30, 2022, there w as $ 19,369 of total unrecognized compensation expense related to the RSUs, which is expected to be recognized over a weighted average period of 2.6 years, s ubject to the achievement of certain performance based vesting conditions.

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Equity	13. EQUITY The Company has authorized a total of 370,000,000 shares for issuance with 350,000,000 shares designated as Common Stock and 20,000,000 shares designated as preferred stock. The Company’s common stockholders are entitled to one vote per share for the election of the Company directors and all other matters submitted to a vote of stockholders of the company. Additionally, the Company’s common stockholders will be entitled to receive dividends when, as and if declared by the Company Board, payable either in cash, in property or in shares of capital stock, after payment to any Company preferred stockholders having preference, if any. Out of the total authorized Common Stock, 86,691,430 , and 85,743,994 were issued and outstanding as of September 30, 2022 and December 31, 2021, respectively. The Company Board are authorized to issue shares of preferred stock, without stockholder approval, with such designations, voting and other rights and preferences as they may determine. As of September 30, 2022 and December 31, 2021, there were no shares of preferred stock issued and outstanding.

Seller's Earn-Out

Seller's Earn-Out	9 Months Ended
	Sep. 30, 2022
Business Combination, Description [Abstract]
Seller's Earn-Out	14. SELLER'S EARN-OUT The estimated fair value of the Seller’s Earn-Out, as defined in Note 16 – Seller’s Earn-Out include d in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, was determined using a Monte Carlo simulation valuation model using the most reliable information available. Assumptions used in the valuation were as follows: September 30, 2022 December 31, 2021 Stock price $ 2.15 $ 5.87 Dividend yield 0.0 % 0.0 % Volatility 80.0 % 67.9 % Risk-free rate 4.18 % 0.96 % Forecast period (in years) 2.23 2.98 Dividend yield - The expected dividend assumption is based on the Company’s history and expectation of dividend payouts. The Company has not paid and does not intend to pay dividends. V olatility - Due to the Company’s lack of company-specific historical or implied volatility, the expected volatility assumption was determined by examining the historical volatilities of a group of industry peers whose share prices are publicly available. Risk-free rate - The risk-free rate assumption is based on the U.S. Treasury instruments, the terms of which were consistent with the expected term of the Seller’s Earn-Out. Forecast period – The forecast period represents the time until expiration of the Seller’s Earn-Out. Seller’s Earn-Out to equity holders and vested Exchanged Options as of Close: The Seller’s Earn-Out is recorded on the Condensed Consolidated Balance Sheet as a non-current liability since the expected date of achievement based on the valuation model is over twelve months as of September 30, 2022 . The following table presents activity for the Seller's Earn-Out measured using the Monte Carlo model, described above, as of September 30, 2022 and December 31, 2021: Seller's Earn-Out Balance at December 31, 2021 $ 18,081 Change in fair value ( 15,664 ) Balance at September 30, 2022 $ 2,417 Seller’s Earn-Out to Exchanged Option and Exchanged Unit holders as of Close: For the three and nine months ended September 30, 2022, there was approximately $ 373 and $ 1,364 , respectively, recorded in share-based compensation related to the Seller’s Earn-Out to Exchanged Option and Exchanged Unit holders. As of September 30, 2022, the compensation expense was fully recognized. Share-based compensation expense related to the Seller’s Earn-Out to Exchanged Option and Exchanged Unit holders was included in the Company’s Condensed Consolidated Statements of Operations as follows: Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 Platform operations $ 44 $ 161 Sales and marketing 110 405 Technology and development 37 131 General and administrative 182 667 Total $ 373 $ 1,364

Warrants

Warrants	9 Months Ended
	Sep. 30, 2022
Warrants and Rights Note Disclosure [Abstract]
Warrants	15. WARRANTS The following table summarizes the number of outstanding Public Warrants and Private Placement Warrants and the corresponding exercise price: September 30, 2022 December 31, 2021 Exercise Price Expiration Date Public Warrants 10,541,657 10,541,667 $ 11.50 December 21, 2026 Private Placement Warrants 5,432,237 5,432,237 $ 11.50 December 21, 2026 Of the 5,432,237 Private Placement Warrants, 551,096 warrants are held in escrow subject to earn-out targets (“Escrow Warrants”). The Escrow Warrants will be released if the volume-weighted average price (“VWAP”) of the Company’s Common Stock equals or exce eds $ 14.00 pe r share for any 20 trading days within any consecutive 30 trading day period on or before the third anniversary of the Business Combination closing. Measurement of Public Warrants The Public Warrants are measured at fair value on a recurring basis. The measurement of the Public Warrants as of September 30, 2022 is classified as Level 1 due to the use of an observable market quote in an active market under the ticker ADTHW. There were 10 warrants exercised in the nine months ended September 30, 2022. Measurement of Private Placement Warrants The Private Placement Warrants are measured at fair value on a recurring basis. The measurement of the Public Warrants as of September 30, 2022 is classified as Level 2. A Monte Carlo simulation model is used to determine fair value. The key inputs into the Monte Carlo simulation model for the Private Placement were as follows: September 30, December 31, 2022 2021 Risk-free interest rate 4.09 % 1.25 % Dividend yield 0.00 % 0.00 % Expected term (years) 4.23 4.98 Expected Volatility 67.90 % 35.30 % Exercise Price $ 11.50 $ 11.50 Stock Price $ 2.15 $ 5.87 The volatility utilized in estimating the fair value of the Company’s Private Placement Warrant liability was based on the weighted average of the implied volatility and guideline public company volatility. The implied volatility was estimated by calibrating to the market price of the public warrants as of the respective valuation date, using a binomial lattice model. The guideline public company volatility was estimated based on historical lookback volatility of guideline public companies over a term commensurate with the expected term of the warrant, as well as, consideration to implied volatilities sourced from Bloomberg, L.P. Key assumptions are as follows: Risk-free interest rate - The risk-free rate assumption is based on the U.S. Treasury instruments, the terms of which were consistent with the expected term of the Private Placement Warrants. Dividend yield - The expected dividend assumption is based on the Company’s history and expectation of dividend payouts. The Company has not paid and does not intend to pay dividends. Expected term – The forecast period represents the time until expiration of the Private Placement Warrants. Expected Volatility - The expected volatility assumption was determined by examining the historical volatilities of a group of industry peers and the implied volatility from the market price of the Public Warrants. Warrant liability On September 30, 2022, the fair values of the Public Warrants and Private Placement Warrants outstanding were determined to be $ 0.17 and $ 0.39 per warrant, respectively. On December 31, 2021, the Public Warrants and Private Placement Warrants outstand ing were determined to be $ 0.68 and $ 0.92 per warrant, respectively. The following table presents the changes in the fair value of the Public and Private Placement Warrants: Public Warrants Private Placement Warrants Total Warrant Liabilities Fair value as of December 31, 2021 $ 7,168 $ 4,998 $ 12,166 Change in valuation inputs or other assumptions ( 5,376 ) ( 2,885 ) ( 8,261 ) Fair value as of September 30, 2022 $ 1,792 $ 2,113 $ 3,905

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	16. FAIR VALUE MEASUREMENTS The following tables summarize the Company's assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy: September 30, 2022 Level 1 Level 2 Level 3 Total Assets: Investment in SymetryML Holdings(2) $ — $ — $ 812 $ 812 Total assets $ — $ — $ 812 $ 812 Liabilities: Public warrants(1) $ 1,792 $ — $ — $ 1,792 Private placement warrants(1) — 2,113 — 2,113 Seller's Earn-Out(1) — — 2,417 2,417 Total liabilities $ 1,792 $ 2,113 $ 2,417 $ 6,322 December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Investment in SymetryML Holdings(2) $ — $ — $ — $ — Total assets $ — $ — $ — $ — Liabilities: Public warrants(1) $ 7,168 $ — $ — $ 7,168 Private placement warrants(1) — 4,998 — 4,998 Seller's Earn-Out(1) — — 18,081 18,081 Total liabilities $ 7,168 $ 4,998 $ 18,081 $ 30,247 (1) Refe r to Note 14 — Seller's Earn-Out and Note 15 — Warrants to the Consolidated Financial Statements for the year ended December 31, 2021 for further i nformation about the initial and subsequent measurement, including significant assumptions and valuation methodologies of these instruments. (2) Refe r to Note 18— SymetryML and SymetryML Holdings belo w for further information about the initial measurement, including significant assumptions and valuation methodologies of this investment. The following table presents a rollforward of the Company's assets and liabilities classified as Level 3 for nine months ended September 30, 2022 . The Company did no t have Level 3 assets or liabilities in the nine months ended September 30, 2021. Nine Months Ended Investment in SymetryML Holdings Seller's Earn-Out Liability Balance as December 31, 2021 $ — $ 18,081 Additions 861 — Measurement adjustments ( 49 ) ( 15,664 ) Balance as of September 30, 2022 $ 812 $ 2,417

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	17. EARNINGS PER SHARE The computation of net income per share was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net income attributable to AdTheorent Holding Company, Inc. $ 5,725 $ 3,153 $ 21,762 $ 6,688 Weighted-average common shares outstanding - basic 86,492,025 59,882,523 86,003,514 59,882,523 Effect of dilutive equity-based awards 5,630,396 7,088,624 6,882,337 4,912,507 Weighted-average common shares outstanding - diluted 92,122,421 66,971,147 92,885,851 64,795,030 Earnings per share: Basic $ 0.07 $ 0.05 $ 0.25 $ 0.11 Diluted $ 0.06 $ 0.05 $ 0.23 $ 0.10 The following outstanding potentially dilutive securities were excluded from the calculation of diluted net income per Common Stockholder because their impact would have been anti-dilutive for the period presented, or their contingency conditions were not met: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock options 1,541,098 637,920 565,303 2,814,037 Restricted Stock Units (RSUs) 2,840,126 — 2,563,980 — Public Warrants 10,541,657 — 10,541,657 — Private Placement Warrants (1) 5,432,237 — 5,432,237 — Seller's Earn-Out 6,785,714 — 6,785,714 — Sponsor Earn-Out 598,875 — 598,875 — Total 27,739,707 637,920 26,487,766 2,814,037 (1) Of the 5,432,237 Private Placement Warrants, 551,096 warrants are held in escrow subject to earn-out targets.

Symetryml And Symetryml Holding

Symetryml And Symetryml Holdings	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Symetryml And Symetryml Holdings	18. SYMETRYML AND SYMETRYML HOLDINGS SymetryML Holdings was a subsidiary of Legacy AdTheorent after a contribution of Legacy AdTheorent’s SymetryML department in exchange for membership interest. Class B interests that vest over time, comprising 50 % of the total equity interests of SymetryML Holdings, were offered to certain employees (a non-controlling interest) of SymetryML. Legacy AdTheorent retained the remaining 50 % total equity interests, through the holding of all Class A equity interests in SymetryML Holdings. SymetryML Holdings and SymetryML was ultimately deconsolidated as of March 31, 2022 through a series seed preferred financing transaction ("Deconsolidation"), resulting in a gain of $ 1,939 , of which $ 541 related to the remeasurement of the retained noncontrolling investment to fair value. The gain of $ 1,939 has been recorded separately on the Company’s Condensed Consolidated Statements of Operations for the nine months ended September 30, 2022. The following table shows the amounts related to the accounting for the Deconsolidation: For the Nine Months Ended September 30, 2022 Fair value of consideration received $ — Fair value of retained noncontrolling interest 861 Carrying amount of deconsolidated noncontrolling interest 2,372 Less: Carrying amount of deconsolidated net assets ( 1,294 ) Gain on Deconsolidation $ 1,939 The Deconsolidation resulted in the removal of the noncontrolling interest presentation and therefore there is no noncontrolling interest as of September 30, 2022. As of December 31, 2021 prior to the Deconsolida tion, 41 % of th e total equity interests of SymetryML Holdings were owned by noncontrolling interests. VIE Determination Based on the Company’s assessment, after the Deconsolidation, SymetryML is considered a variable interest entity (“VIE”) because it does not have sufficient equity at risk to finance its activities without additional subordinated financial support. SymetryML Holdings is not the primary beneficiary as it no longer has the power to direct the activities that most significantly impact SymetryML’s economic performance. Based on the Company’s assessment, SymetryML Holdings, after the Deconsolidation, is considered a VIE because the holders of the equity investment at risk, as a group, lack the power to direct the activities of SymetryML Holdings that most significantly impact its economic performance. This is due to the conclusion that Class B equity interests do not meet the definition of equity at risk because the Class B interests were issued by Legacy AdTheorent to SymetryML management as founders’ equity to compensate for past and future services to SymetryML. The Company further concluded that the Company is not the primary beneficiary as it no longer has the power to direct the activities that most significantly impact SymetryML economic performance. As a result of the Deconsolidation of SymetryML and SymetryML Holdings, the Company has retained a noncontrolling investment in SymetryML Holdings that provides the Company the ability to exercise significant influence over both VIEs. The entities continue to be considered related parties of the Company following the Deconsolidation. Retained Fair Value Option Investments in SymetryML and SymetryML Holdings For its retained noncontrolling investment in SymetryML Holdings, the Company has made an irrevocable election to account for its investment at fair value with changes in fair value reported in earnings. The Company elected to apply fair value accounting to the retained investments in SymetryML Holdings because the Company believes that fair value is the most relevant measurement attribute for these investments, as well as to reduce operational and accounting complexity. The Company’s election to apply fair value accounting to these investments may cause fluctuations in the Company’s earnings from period to period. The fair value of the Company’s retained investment was $ 812 a nd $ 0 as of September 30, 2022 and December 31, 2021, respectively. The fair value measurements involve significant unobservable inputs, which include total equity value of SymetryML, volatility, risk-free rate, equity holder required rate of return, and discount for lack of marketability (“DLOM”). The total equity value of SymetryML was calculated using the Backsolve Method under the Market Approach. The volatility was based on guideline public companies and adjusted for differences in size and leverage. The risk-free rate was based on U.S. Treasury securities with a term commensurate with the time to exit. The equity holder required rate of return was based on private equity and venture capital rate of return studies. The DLOM was estimated based on put option models and series volatility. The Company’s maximum exposure to loss as a result of its involvement with these VIEs is limited to the carrying amount of its investment which is recorded at fair value each reporting period as described above. There are not any explicit or implicit contracts, guarantees, or commitments that would require the Company to provide financial support to the investees or any other arrangements that could expose the Company to losses beyond the fair value of its current investment. SAFE Notes During the three months ended September 30, 2022 and 2021 , the Company raised $ 0 and $ 525 , respectively, and during the nine months ended September 30, 2022 and 2021 the Company raised $ 200 and $ 1,225 , respectively, to fund Symetry operations, by entering into Simple Agreements for Futu re Equity Notes (“SAFE Notes”) with several parties. As a result of the series seed preferred financing transaction, all outstanding SAFE Notes converted to series seed preferred stock in SymetryML, Inc. on March 31, 2022 in accordance with the existing terms of the SAFE Notes.

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	19. LEASES The Company has operating lease agreements for office space in the United States. The agreements expire over the next three years , except for the New York headquarters office, which expires in 2028 . The Company recognizes operating lease expense on a straight-line basis over the term of the lease. Additionally, the Company has short-term leases with an initial term of twelve months or less that are not recorded on the Condensed Consolidated Balance Sheet. Lease expense is allocated to Operating expense categories (Platform operations, Sales and marketing, Technology and development, General and administrative) in the Condensed Consolidated Statements of Operations in proportion to headcount in each of these categories. The components of lease expense for the three and nine months ended September 30, 2022 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2022 Operating Lease Cost $ 257 $ 729 Short Term Lease Cost $ 49 $ 98 Variable Lease Cost $ — $ — Supplemental cash flow information related to the Company’s operating leases for the nine months ended September 30, 2022 were as follows: September 30, 2022 Operating cash flows used for operating leases $ 998 Right-of-use assets obtained in exchange for new operating lease obligations $ 214 Supplemental balance sheet information related to the Company’s operating leases as of September 30, 2022 were as follows: September 30, 2022 Weighted average remaining lease term (years) 5.82 Weighted average discount rate (%) 3.25 % Approximate future minimum lease payments for the Company’s operating leases are as follows as of September 30, 2022: September 30, 2022 Remainder of 2022 $ 384 2023 1,484 2024 1,441 2025 1,433 2026 1,415 Thereafter 2,387 Total operating lease payments 8,544 Less: Imputed interest ( 756 ) Total operating lease liabilities $ 7,788 In connection with several lease agreements, the Company maintains letters of credit in the total amount of approxim ately $ 983 as of both September 30, 2022 and December 31, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying Condensed Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the operations of the Company. All intercompany transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company's financial position as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021. The Condensed Consolidated Balance Sheet as of December 31, 2021, has been derived from the Company's audited consolidated financial statements as of that date. The Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 , which include a complete set of footnote disclosures, including the Company's significant accounting policies. The results for interim periods are not necessarily indicative of the results that may be expected for a full fiscal year or for any other future period.
Retroactive Application of Recapitalization	Retroactive Application of Recapitalization As discussed in Note 3 – Business Combination included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 , the business combination that occurred on December 22, 2021 (“Business Combination”) was accounted for as a reverse recapitalization ("Reverse Recapitalization") of equity structure, whereby at the closing of the Business Combination, the outstanding Class A, B and C units of AdTheorent Holding Company, LLC, a Delaware limited liability company (“Legacy AdTheorent”) and the outstanding stock options and Restricted Interest Units of Legacy AdTheorent were exchanged for the Company’s Common Stock and equity awards using a ratio (“Exchange Ratio”) of 1.376 and 1.563 , respectively. Accordingly, pursuant to GAAP, the Condensed Consolidated Financial Statements and the related notes have been recast and are presented on an if-converted basis using the respective Exchange Ratio. In addition, the Exchange Ratio is utilized for calculating earnings per share in all prior periods presented.
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies There have been no material changes in the Company's significant accounting policies during the nine months ended September 30, 2022 , as compared to the significant accounting policies described in Note 2 to the Consolidated Financial Statements for the year ended December 31, 2021, except as detailed below.
Leases	Leases The Company adopted Accounting Standards Codification ("ASC") Topic 842, Leases (“ASC 842”) on January 1, 2022 using the cumulative effect transition method for leases in existence as of the date of adoption. The reported results for 2022 reflect the application of ASC 842 guidance while the reported results for 2021 were prepared under the previous guidance of ASC 840, Leases (“ASC 840”). The adoption of ASC 842 represents a change in accounting principle that recognizes right-of-use (“ROU”) assets and lease liabilities arising from all leases based on the present value of future minimum lease payments over the lease term. Consistent with ASC 840, lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company’s adoption of ASC 842 had no impact on the Condensed Consolidated Statements of Operations or the Condensed Consolidated Statement of Cash Flows. The Company elected the package of practical expedients permitted under the transition guidance within ASC 842, which allows for the following: (i) to carry forward the historical lease classification, (ii) not to reassess whether any existing contract contains a lease and (iii) not to reassess initial direct costs for existing leases. The Company categorizes leases at their inception as either operating or finance leases. Operating leases are classified as non-current operating lease right-of-use assets and current and non-current operating lease liabilities on the Condensed Consolidated Balance Sheet. The Company did no t have any finance leases upon adoption on January 1, 2022 or as of September 30, 2022. Adoption of ASC 842 resulted in the recognition of operating right-of-use assets of $ 6,507 , along with associated operating lease liabilities of $ 8,376 as of January 1, 2022. The difference between the operating lease ROU assets and total operating lease liabilities is the reclassification of previously recognized deferred rent liabilities against operating lease ROU assets. The adoption of ASC 842 did not result in an adjustment to retained earnings and it did not impact the Company's deferred tax assets or liabilities. The Company’s operating leases are primarily for real property in support of its business operations. Although the Company's leases may contain renewal options, the Company is generally not reasonably certain to exercise these options at the commencement date. Accordingly, renewal options are generally not included in the lease term for determining the ROU asset and lease liability at commencement. The Company has elected to account for lease components and non-lease components as a single lease component. Payments to lessors for reimbursement of real estate taxes, common area maintenance costs or insurance as applicable are generally variable in nature and are also expensed as incurred as variable lease costs and not included in the right-of-use assets or lease liabilities. Variable lease payment amounts that cannot be determined at lease commencement such as increases in lease payments based on changes in index rates or usage, are not included in the right-of-use assets or liabilities. Such variable payments are expensed as incurred. Discount rates are determined based on the Company’s incremental borrowing rate as the Company’s leases generally do not provide an implicit rate. See Note 19 – Leases for further details.
Fair Value Option Investments	Fair Value Option Investments The fair value option provides an option to elect fair value as an alternative measurement for selected financial instruments. Unrealized gains and losses on items for which the fair value option has been elected are reported in earnings. The decision to elect the fair value option is determined on an instrument-by-instrument basis and must be applied to an entire instrument and is irrevocable once elected. The Company has investments in the common stock of SymetryML Holdings, LLC (“SymetryML Holdings”) for which it has the ability to exercise significant influence. The Company has made an irrevocable election to account for those investments at fair value. Estimating the fair values of these investments requires significant judgment regarding of the assumptions that market participants would use in pricing those assets. See Note 18 – SymetryML and SymetryML Holdings for further details.
Liquidity	Liquidity As of September 30, 2022, the Company had cash of $ 67,842 and working capital, consisting of current assets, less current liabilities, of $ 97,188 . The Company believes its e xisting cash and cash flow from operations will be sufficient to meet the Company’s working capital requirements for at least the next 12 months.
Emerging Growth Company	Emerging Growth Company From time to time, new accounting pronouncements, or Accounting Standard Updates (“ASU”) are issued by the Financial Accounting Standards Board ("FASB"), or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position or results of operations upon adoption. The Company is an emerging growth company (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”) and may take advantage of reduced reporting requirements that are otherwise applicable to public companies. Section 107 of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with those standards. This means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company has the option to adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and can do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company has elected to use the extended transition period for complying with new or revised accounting standards unless the Company otherwise early adopts select standards.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements ASU No. 2016-02, Leases (Topic 842) In February 2016, the FASB issued ASC 842, which sets out the principles for the recognition, measurement, and presentation of all leases on the balance sheet as well as provides for additional lease disclosure requirements. The Company adopted ASC 842 on January 1, 2022 using the cumulative effect transition method for leases in existence as of the date of adoption. See above for the Company's accounting policy for leases under ASC 842 and the impact from adoption. ASU No. 2020-04, Reference Rate Reform (Topic 848) In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) (“ASU 2020-04”), subsequently clarified in January 2021 by ASU No. 2021-01, Reference Rate Reform (Topic 848) (“ASU 2021-01”). The main provisions of this update provide optional expedients and exceptions for contracts, hedging relationships, and other transactions that reference the London Inter-bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The guidance in ASU 2020-04 and ASU 2021-01 was effective upon issuance and, once adopted, may be applied prospectively to contract modifications and hedging relationships through December 31, 2022. The Company adopted ASU 2020-04 on January 1, 2022 . The adoption did not have a material effect on the Company's Condensed Consolidated Financial Statements. Accounting Pronouncements Issued Not Yet Adopted ASU No. 2019-12, Income Taxes – Simplifying the Accounting for Income Taxes (Topic 740) In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) (“ASU 2019-12”), which is part of the FASB’s overall simplification initiative to reduce the costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. ASU 2019-12 simplifies accounting guidance for intra-period allocations, deferred tax liabilities, year-to-date losses in interim periods, franchise taxes, step-up in tax basis of goodwill, separate entity financial statements, and interim recognition of tax laws or rate changes. ASU 2019-12 is effective for emerging growth companies following private company adoption dates in fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the new guidance and does not believe it will have a material impact on the Condensed Consolidated Financial Statements. ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires entities to estimate all expected credit losses for certain types of financial instruments, including trade receivables, held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The updated guidance also expands the disclosure requirements to enable users of financial statements to understand the entity’s assumptions, models and methods for estimating expected credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument. ASU 2016-13, as subsequently amended for various technical issues, is effective for emerging growth companies following private company adoption dates for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitte d. The Company is currently evaluating the new guidance and does not believe it will have a material impact on the Condensed Consolidated Financial Statements.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Summary of Accounts Receivable, Net	Accounts receivable, net consisted of the following: September 30, December 31, 2022 2021 Accounts receivables 43,095 56,180 Other receivables 103 121 43,198 56,301 Less: allowance for doubtful accounts ( 605 ) ( 365 ) Accounts receivable, net 42,593 55,936
Schedule of Changes in Allowance for Doubtful Accounts	The following table presents changes in the allowance for doubtful accounts: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Beginning balance $ 537 $ 448 $ 365 $ 457 Reserve for doubtful accounts 68 99 246 188 Write-offs, net of recoveries — ( 188 ) ( 6 ) ( 286 ) Ending balance $ 605 $ 359 $ 605 $ 359

Prepaid Expenses (Tables)

Prepaid Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses	Prepaid expenses consisted of the following: September 30, December 31, 2022 2021 Income taxes $ 1,528 $ 2,683 Platform operations 963 222 Insurance 755 62 Sales and marketing 427 62 Other 506 772 Total $ 4,179 $ 3,801

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and Equipment, net consisted of the following: September 30, December 31, 2022 2021 Computers and equipment $ 975 $ 798 Less: accumulated depreciation ( 403 ) ( 389 ) Total $ 572 $ 409

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net	Intangible assets, net consisted of the following: September 30, 2022 Remaining Weighted Average Useful Life (in years) Gross amount Accumulated amortization Net carrying amount Software — $ 6,038 $ ( 6,038 ) $ — Capitalized software costs 1.1 9,430 ( 6,950 ) 2,480 Customer relationships 1.3 31,492 ( 25,898 ) 5,594 Trademarks/tradename 4.3 10,195 ( 5,871 ) 4,324 Total $ 57,155 $ ( 44,757 ) $ 12,398 December 31, 2021 Remaining Weighted Average Useful Life (in years) Gross amount Accumulated amortization Net carrying amount Software 1.0 $ 9,124 $ ( 8,653 ) $ 471 Capitalized software costs 1.0 7,366 ( 5,335 ) 2,031 Customer relationships 2.0 31,726 ( 22,740 ) 8,986 Trademarks/tradename 5.0 10,240 ( 5,134 ) 5,106 Total $ 58,456 $ ( 41,862 ) $ 16,594
Summary of Amortization Expense	Amortization expense was included in the Company’s Condensed Consolidated Statements of Operations as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Platform operations $ 549 $ 505 $ 1,615 $ 1,482 Sales and marketing 1,370 1,369 4,110 4,110 Technology and development — 140 140 419 General and administrative 3 79 7 236 Total $ 1,922 $ 2,093 $ 5,872 $ 6,247
Schedule of Future Amortization of Intangible Assets	Estimated future amortization of intangible assets as of September 30, 2022 is as follows: Remainder of 2022 $ 1,908 2023 7,023 2024 1,427 2025 1,016 2026 1,016 Thereafter 8 Total $ 12,398

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Balance as of December 31, 2021 $ 35,778 Deconsolidation of SymetryML ( 936 ) Balance as of September 30, 2022 $ 34,842

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following: September 30, 2022 December 31, 2021 Campaign costs $ 2,060 $ 2,718 Platform operations 389 191 Deferred revenues 282 207 Professional services 133 648 Sales and use taxes 12 233 Other 485 667 Total $ 3,361 $ 4,664

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of Stock Option Activity	The following table summarizes stock option activity for the nine months ended September 30, 2022: Stock Options Weighted-Average Exercise Price Outstanding as of December 31, 2021 7,726,830 $ 0.60 Exercised ( 600,551 ) 0.58 Forfeited ( 3,908 ) 0.74 Outstanding as of September 30, 2022 7,122,371 $ 0.61 Exercisable as of September 30, 2022 6,699,803 $ 0.60
Summary of RSU Activity	The following summarizes RSU activity for the nine months ended September 30, 2022: Restricted Stock Units Weighted-Average Grant Date Fair Value Outstanding as of December 31, 2021 846,797 $ 7.95 Granted 3,332,907 9.56 Vested ( 423,390 ) 7.95 Forfeited ( 87,826 ) 9.44 Outstanding as of September 30, 2022 3,668,488 $ 9.38
Summary of Fair Value of Purchase rights Granted under Black-Scholes Option-Pricing Model Assumptions	It was estimated by applying the Black-Scholes option-pricing model to the purchase period in the offering period using the following assumptions: August 15, 2022 Grant price $ 2.67 Expected term 5 months Expected volatility 90.7 % Risk-free interest rate 3.0 % Expected dividend yield 0.0 %
Summary of Total Equity-based Compensation Expense	The following table summarizes the total equity-based compensation expense included in the Condensed Consolidated Statements of Operations: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Platform operations $ 485 $ — $ 1,365 $ — Sales and marketing 920 — 2,773 — Technology and development 424 — 1,448 — General and administrative 954 110 3,041 382 Total equity-based compensation expense $ 2,783 $ 110 $ 8,627 $ 382

Seller's Earn-Out (Tables)

Seller's Earn-Out (Tables)	9 Months Ended
	Sep. 30, 2022
Business Acquisition [Line Items]
Schedule of Fair Value of Options	It was estimated by applying the Black-Scholes option-pricing model to the purchase period in the offering period using the following assumptions: August 15, 2022 Grant price $ 2.67 Expected term 5 months Expected volatility 90.7 % Risk-free interest rate 3.0 % Expected dividend yield 0.0 %
Seller's Earn-Out
Business Acquisition [Line Items]
Schedule of Fair Value of Options	Assumptions used in the valuation were as follows: September 30, 2022 December 31, 2021 Stock price $ 2.15 $ 5.87 Dividend yield 0.0 % 0.0 % Volatility 80.0 % 67.9 % Risk-free rate 4.18 % 0.96 % Forecast period (in years) 2.23 2.98
Schedule of Change in Fair Value	The following table presents activity for the Seller's Earn-Out measured using the Monte Carlo model, described above, as of September 30, 2022 and December 31, 2021: Seller's Earn-Out Balance at December 31, 2021 $ 18,081 Change in fair value ( 15,664 ) Balance at September 30, 2022 $ 2,417
Share based Compensation Expense Related to the Sellers Earn Out to Exchanged Option and Exchanged Unit holders	Share-based compensation expense related to the Seller’s Earn-Out to Exchanged Option and Exchanged Unit holders was included in the Company’s Condensed Consolidated Statements of Operations as follows: Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 Platform operations $ 44 $ 161 Sales and marketing 110 405 Technology and development 37 131 General and administrative 182 667 Total $ 373 $ 1,364

Warrants (Tables)

Warrants (Tables)	9 Months Ended
	Sep. 30, 2022
Warrants and Rights Note Disclosure [Abstract]
Summary of Number of Outstanding Public and Private Placement Warrants and Corresponding Exercise Price	The following table summarizes the number of outstanding Public Warrants and Private Placement Warrants and the corresponding exercise price: September 30, 2022 December 31, 2021 Exercise Price Expiration Date Public Warrants 10,541,657 10,541,667 $ 11.50 December 21, 2026 Private Placement Warrants 5,432,237 5,432,237 $ 11.50 December 21, 2026
Schedule of Key Inputs into Monte Carlo Simulation Model for Private Placement Warrants at Initial and Subsequent Measurement Date	The key inputs into the Monte Carlo simulation model for the Private Placement were as follows: September 30, December 31, 2022 2021 Risk-free interest rate 4.09 % 1.25 % Dividend yield 0.00 % 0.00 % Expected term (years) 4.23 4.98 Expected Volatility 67.90 % 35.30 % Exercise Price $ 11.50 $ 11.50 Stock Price $ 2.15 $ 5.87
Schedule of Changes in Fair Value of Public and Private Placement Warrants	The following table presents the changes in the fair value of the Public and Private Placement Warrants: Public Warrants Private Placement Warrants Total Warrant Liabilities Fair value as of December 31, 2021 $ 7,168 $ 4,998 $ 12,166 Change in valuation inputs or other assumptions ( 5,376 ) ( 2,885 ) ( 8,261 ) Fair value as of September 30, 2022 $ 1,792 $ 2,113 $ 3,905

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of company's assets and liabilities that are measured at fair value	The following tables summarize the Company's assets and liabilities measured at fair value on a recurring basis by level within the fair value hierarchy: September 30, 2022 Level 1 Level 2 Level 3 Total Assets: Investment in SymetryML Holdings(2) $ — $ — $ 812 $ 812 Total assets $ — $ — $ 812 $ 812 Liabilities: Public warrants(1) $ 1,792 $ — $ — $ 1,792 Private placement warrants(1) — 2,113 — 2,113 Seller's Earn-Out(1) — — 2,417 2,417 Total liabilities $ 1,792 $ 2,113 $ 2,417 $ 6,322 December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Investment in SymetryML Holdings(2) $ — $ — $ — $ — Total assets $ — $ — $ — $ — Liabilities: Public warrants(1) $ 7,168 $ — $ — $ 7,168 Private placement warrants(1) — 4,998 — 4,998 Seller's Earn-Out(1) — — 18,081 18,081 Total liabilities $ 7,168 $ 4,998 $ 18,081 $ 30,247 (1) Refe r to Note 14 — Seller's Earn-Out and Note 15 — Warrants to the Consolidated Financial Statements for the year ended December 31, 2021 for further i nformation about the initial and subsequent measurement, including significant assumptions and valuation methodologies of these instruments. (2) Refe r to Note 18— SymetryML and SymetryML Holdings belo w for further information about the initial measurement, including significant assumptions and valuation methodologies of this investment.
Summary of rollforward of assets and liabilities classified as Level 3	The following table presents a rollforward of the Company's assets and liabilities classified as Level 3 for nine months ended September 30, 2022 . The Company did no t have Level 3 assets or liabilities in the nine months ended September 30, 2021. Nine Months Ended Investment in SymetryML Holdings Seller's Earn-Out Liability Balance as December 31, 2021 $ — $ 18,081 Additions 861 — Measurement adjustments ( 49 ) ( 15,664 ) Balance as of September 30, 2022 $ 812 $ 2,417

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Computation of Net Income Per Share	The computation of net income per share was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Net income attributable to AdTheorent Holding Company, Inc. $ 5,725 $ 3,153 $ 21,762 $ 6,688 Weighted-average common shares outstanding - basic 86,492,025 59,882,523 86,003,514 59,882,523 Effect of dilutive equity-based awards 5,630,396 7,088,624 6,882,337 4,912,507 Weighted-average common shares outstanding - diluted 92,122,421 66,971,147 92,885,851 64,795,030 Earnings per share: Basic $ 0.07 $ 0.05 $ 0.25 $ 0.11 Diluted $ 0.06 $ 0.05 $ 0.23 $ 0.10
Summary of Outstanding Potentially Dilutive Securities	The following outstanding potentially dilutive securities were excluded from the calculation of diluted net income per Common Stockholder because their impact would have been anti-dilutive for the period presented, or their contingency conditions were not met: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock options 1,541,098 637,920 565,303 2,814,037 Restricted Stock Units (RSUs) 2,840,126 — 2,563,980 — Public Warrants 10,541,657 — 10,541,657 — Private Placement Warrants (1) 5,432,237 — 5,432,237 — Seller's Earn-Out 6,785,714 — 6,785,714 — Sponsor Earn-Out 598,875 — 598,875 — Total 27,739,707 637,920 26,487,766 2,814,037 (1) Of the 5,432,237 Private Placement Warrants, 551,096 warrants are held in escrow subject to earn-out targets.

Symetryml And Symetryml Holdi_2

Symetryml And Symetryml Holdings (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Summary of Amounts Related to Accounting Deconsolidation Transaction	The following table shows the amounts related to the accounting for the Deconsolidation: For the Nine Months Ended September 30, 2022 Fair value of consideration received $ — Fair value of retained noncontrolling interest 861 Carrying amount of deconsolidated noncontrolling interest 2,372 Less: Carrying amount of deconsolidated net assets ( 1,294 ) Gain on Deconsolidation $ 1,939

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense for the three and nine months ended September 30, 2022 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2022 2022 Operating Lease Cost $ 257 $ 729 Short Term Lease Cost $ 49 $ 98 Variable Lease Cost $ — $ —
Summary of Supplemental Cash Flow Information Related to Operating Leases	Supplemental cash flow information related to the Company’s operating leases for the nine months ended September 30, 2022 were as follows: September 30, 2022 Operating cash flows used for operating leases $ 998 Right-of-use assets obtained in exchange for new operating lease obligations $ 214
Schedule of Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to the Company’s operating leases as of September 30, 2022 were as follows: September 30, 2022 Weighted average remaining lease term (years) 5.82 Weighted average discount rate (%) 3.25 %
Summary of Future Minimum Lease Payments	Approximate future minimum lease payments for the Company’s operating leases are as follows as of September 30, 2022: September 30, 2022 Remainder of 2022 $ 384 2023 1,484 2024 1,441 2025 1,433 2026 1,415 Thereafter 2,387 Total operating lease payments 8,544 Less: Imputed interest ( 756 ) Total operating lease liabilities $ 7,788

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	Dec. 22, 2021	Sep. 30, 2022 USD ($)	Jan. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Cash		$ 67,842,000
Working capital		97,188,000
Finance leases		0
Operating lease right-of-use asset		5,992,000		$ 0
Operating lease liability		$ 7,788,000
Common Stock
Summary Of Significant Accounting Policies [Line Items]
Exchange ratio	1.376
Equity Awards
Summary Of Significant Accounting Policies [Line Items]
Exchange ratio	1.563
ASC 842
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted		true
Change in accounting principle, accounting standards update, adoption date		Jan. 01, 2022
Operating lease right-of-use asset			$ 6,507,000
Operating lease liability			$ 8,376,000
ASU 2021-01
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted		true
Change in accounting principle, accounting standards update, adoption date		Jan. 01, 2022
Change in accounting principle, accounting standards update, immaterial effect		true

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Revenue, practical expedient, incremental cost of obtaining contract [true false]	true
Contract cost asset recognized	$ 0	$ 0
Revenue, Practical Expedient, Initial Application and Transition, Nondisclosure of Transaction Price Allocation to Remaining Performance Obligation [true false]	true

Accounts Receivable, Net - Summ

Accounts Receivable, Net - Summary of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Accounts receivables	$ 43,095	$ 56,180
Other receivables	103	121
Accounts and other receivables, Gross	43,198	56,301
Less: allowance for doubtful accounts	(605)	(365)
Accounts receivable, net	$ 42,593	$ 55,936

Accounts Receivable, Net - Addi

Accounts Receivable, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Receivables [Abstract]
Provision for bad debt expense (benefit)	$ 68	$ 7	$ 240	$ 8

Accounts Receivable, Net - Sche

Accounts Receivable, Net - Schedule of Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Receivables [Abstract]
Beginning balance	$ 537	$ 448	$ 365	$ 457
Reserve for doubtful accounts	68	99	246	188
Write-offs, net of recoveries	0	(188)	(6)	(286)
Ending balance	$ 605	$ 359	$ 605	$ 359

Prepaid Expenses - Schedule of

Prepaid Expenses - Schedule of Prepaid Expenses (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Income taxes	$ 1,528	$ 2,683
Platform operations	963	222
Insurance	755	62
Sales and marketing	427	62
Other	506	772
Total	$ 4,179	$ 3,801

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Less: accumulated depreciation	$ (403)	$ (389)
Total	572	409
Computers and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, net, gross	$ 975	$ 798

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 51	$ 37	$ 143	$ 107

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Gross amount	$ 57,155	$ 58,456
Accumulated amortization	(44,757)	(41,862)
Net carrying amount	$ 12,398	$ 16,594
Software
Finite Lived Intangible Assets [Line Items]
Remaining Weighted Average Useful Life (in years)	0 years	1 year
Gross amount	$ 6,038	$ 9,124
Accumulated amortization	(6,038)	(8,653)
Net carrying amount	$ 0	$ 471
Capitalized Software Costs
Finite Lived Intangible Assets [Line Items]
Remaining Weighted Average Useful Life (in years)	1 year 1 month 6 days	1 year
Gross amount	$ 9,430	$ 7,366
Accumulated amortization	(6,950)	(5,335)
Net carrying amount	$ 2,480	$ 2,031
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Remaining Weighted Average Useful Life (in years)	1 year 3 months 18 days	2 years
Gross amount	$ 31,492	$ 31,726
Accumulated amortization	(25,898)	(22,740)
Net carrying amount	$ 5,594	$ 8,986
Trademarks/tradename
Finite Lived Intangible Assets [Line Items]
Remaining Weighted Average Useful Life (in years)	4 years 3 months 18 days	5 years
Gross amount	$ 10,195	$ 10,240
Accumulated amortization	(5,871)	(5,134)
Net carrying amount	$ 4,324	$ 5,106

Intangible Assets, Net - Summar

Intangible Assets, Net - Summary of Amortization Expense on Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 1,922	$ 2,093	$ 5,872	$ 6,247
Platform Operations
Finite Lived Intangible Assets [Line Items]
Amortization expense	549	505	1,615	1,482
Sales and Marketing
Finite Lived Intangible Assets [Line Items]
Amortization expense	1,370	1,369	4,110	4,110
Technology and Development
Finite Lived Intangible Assets [Line Items]
Amortization expense		140	140	419
General and Administrative Expense
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 3	$ 79	$ 7	$ 236

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for Capitalized software costs	$ 549	$ 505	$ 1,614	$ 1,482
Amortization expense	$ 1,922	$ 2,093	$ 5,872	$ 6,247

Intangible Assets, Net - Sche_2

Intangible Assets, Net - Schedule of Future Amortization of Intangible Assets (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 1,908
2023	7,023
2024	1,427
2025	1,016
2026	1,016
Thereafter	$ 8

Goodwill - Schedule of Goodwill

Goodwill - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance as of December 31, 2021	$ 35,778
Deconsolidation of SymetryML	(936)
Balance as of March 31, 2022	$ 34,842

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Campaign costs	$ 2,060	$ 2,718
Platform Operations	389	191
Deferred revenue	282	207
Professional fees	133	648
Sales and use taxes	12	233
Other	485	667
Total	$ 3,361	$ 4,664

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Letters of Credit
Debt Instrument [Line Items]
Line of credit	$ 983,000	$ 983,000
Letters of Credit | Senior Secured Agreement
Debt Instrument [Line Items]
Line of credit	983,000	983,000
Revolving Credit Facility | Senior Secured Agreement
Debt Instrument [Line Items]
Line of credit	$ 0	$ 39,017,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating Loss Carryforwards [Line Items]
(Provision) benefit for income taxes	$ (1,095,000)	$ (1,569,000)	$ 540,000	$ (3,141,000)
Annual effective income tax rates			9.40%	33.80%
Statutory income tax rate			21%
Valuation allowance	$ 0		$ 0

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Stock Option Activity (Details) - $ / shares	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock Options, Outstanding, Beginning balance	7,726,830
Stock Options, Exercised	(600,551)
Stock Options, Forfeited	(3,908)
Stock Options, Outstanding, Ending balance	7,122,371
Stock Options, Exercisable	6,699,803
Weighted Average Exercise Price, Outstanding, Beginning balance	$ 0.60
Weighted Average Exercise Price, Exercised	0.58
Weighted Average Exercise Price, Forfeited	0.74
Weighted Average Exercise Price, Outstanding, Ending balance	0.61
Weighted Average Exercise Price, Exercisable	$ 0.60

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Details) - USD ($)			3 Months Ended	9 Months Ended
	Apr. 13, 2022	Mar. 11, 2022	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Aug. 15, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense				$ 8,627,000	$ 382,000
Total unrecognized compensation cost			$ 68,000	$ 68,000
Total unrecognized compensation cost, expected weighted average period				3 months 18 days
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, equity instruments other than options, granted	45,157	3,287,750		3,332,907
Share-based payment award, equity instruments other than options, granted, fair value per unit	$ 8.92	$ 9.57		$ 9.56
Compensation expense			0	$ 0
Total unrecognized compensation expense			19,369,000	$ 19,369,000
Total unrecognized compensation cost, expected weighted average period				2 years 7 months 6 days
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of fair markets value of common stock share on offering date							85%
Percentage of fair market value of common stock share on purchase date							85%
Compensation expense			$ 27,000	$ 27,000
Fair value of purchase rights granted						$ 1,030
Aggregate number of common stock shares reserved for future issuance			2,026,328	2,026,328			2,026,328

Equity-Based Compensation - S_2

Equity-Based Compensation - Summary of RSU Activity (Details) - RSUs - $ / shares			9 Months Ended
	Apr. 13, 2022	Mar. 11, 2022	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted Stock Units, Outstanding, Beginning of the year			846,797
Restricted Stock Units, Granted	45,157	3,287,750	3,332,907
Restricted Stock Units, Vested			(423,390)
Restricted Stock Units, Forfeited			(87,826)
Restricted Stock Units, Outstanding, End of the year			3,668,488
Weighted Average Grant-Date Fair Value per Unit, Nonvested Beginning of the year			$ 7.95
Weighted Average Grant-Date Fair Value per Unit, Granted	$ 8.92	$ 9.57	9.56
Weighted Average Grant-Date Fair Value per Unit, Vested			7.95
Weighted Average Grant-Date Fair Value per Unit, Forfeited			9.44
Weighted Average Grant-Date Fair Value per Unit, Nonvested End of the year			$ 9.38

Equity-Based Compensation - S_3

Equity-Based Compensation - Summary of Fair Value of Purchase rights Granted under Black-Scholes Option-Pricing Model Assumptions (Details)	Aug. 15, 2022 $ / shares
Share-Based Payment Arrangement [Abstract]
Grant price	$ 2.67
Expected term	5 months
Expected volatility	90.70%
Risk-free interest rate	3%
Expected dividend yield	0%

Equity-Based Compensation - S_4

Equity-Based Compensation - Summary of Total Equity-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total equity-based compensation expense	$ 2,783	$ 110	$ 8,627	$ 382
Platform Operations
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total equity-based compensation expense	485	0	1,365	0
Sales and Marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total equity-based compensation expense	920	0	2,773	0
Technology and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total equity-based compensation expense	424	0	1,448	0
General and Administrative Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total equity-based compensation expense	$ 954	$ 110	$ 3,041	$ 382

Equity - Additional Information

Equity - Additional Information (Details) - shares	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Shares authorized	370,000,000
Common stock, shares authorized	350,000,000	350,000,000
Preferred stock, shares authorized	20,000,000	20,000,000
Common stock voting rights	one
Common stock, shares issued	86,691,430	85,743,994
Common stock, shares outstanding	86,691,430	85,743,994
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Seller's Earn-Out - Schedule of

Seller's Earn-Out - Schedule of Assumption Used in Valuation (Details) - Seller's Earn-Out	Sep. 30, 2022	Dec. 31, 2021
Stock Price
Business Acquisition [Line Items]
'Warrants and rights outstanding, measurement input	2.15	5.87
Dividend Yield
Business Acquisition [Line Items]
'Warrants and rights outstanding, measurement input	0	0
Volatility
Business Acquisition [Line Items]
'Warrants and rights outstanding, measurement input	80	67.9
Risk-free Rate
Business Acquisition [Line Items]
'Warrants and rights outstanding, measurement input	4.18	0.96
Forecast Period (in years)
Business Acquisition [Line Items]
'Warrants and rights outstanding, measurement input	2.23	2.98

Seller's Earn-Out - Schedule _2

Seller's Earn-Out - Schedule of Change in Fair Value (Details) - Seller's Earn-Out $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Business Acquisition [Line Items]
Fair value as of beginning balance	$ 18,081
Change in fair value	(15,664)
Fair value as of ending balance	$ 2,417

Seller's Earn-Out - Additional

Seller's Earn-Out - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Seller's Earn-Out equity-based compensation		$ 1,364	$ 0
Seller's Earn-Out
Business Acquisition [Line Items]
Seller's Earn-Out equity-based compensation	$ 373	$ 1,364

Seller's Earn-Out - Share based

Seller's Earn-Out - Share based Compensation Expense Related to the Sellers Earn Out to Exchanged Option and Exchanged U (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Total equity-based compensation expense	$ 2,783	$ 110	$ 8,627	$ 382
Seller's Earn-Out
Business Acquisition [Line Items]
Total equity-based compensation expense	373		1,364
Platform Operations
Business Acquisition [Line Items]
Total equity-based compensation expense	485	0	1,365	0
Platform Operations | Seller's Earn-Out
Business Acquisition [Line Items]
Total equity-based compensation expense	44		161
Sales and Marketing
Business Acquisition [Line Items]
Total equity-based compensation expense	920	0	2,773	0
Sales and Marketing | Seller's Earn-Out
Business Acquisition [Line Items]
Total equity-based compensation expense	110		405
Technology and Development
Business Acquisition [Line Items]
Total equity-based compensation expense	424	0	1,448	0
Technology and Development | Seller's Earn-Out
Business Acquisition [Line Items]
Total equity-based compensation expense	37		131
General and Administrative Expense
Business Acquisition [Line Items]
Total equity-based compensation expense	954	$ 110	3,041	$ 382
General and Administrative Expense | Seller's Earn-Out
Business Acquisition [Line Items]
Total equity-based compensation expense	$ 182		$ 667

Warrants - Summary of Number of

Warrants - Summary of Number of Outstanding Public and Private Placement Warrants and Corresponding Exercise Price (Details) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Public Warrants
Class of Warrant or Right [Line Items]
Warrants Outstanding	10,541,657	10,541,667
Exercise Price	$ 11.50
Expiration Date	Dec. 21, 2026
Private Placement Warrants
Class of Warrant or Right [Line Items]
Warrants Outstanding	5,432,237	5,432,237
Exercise Price	$ 11.50
Expiration Date	Dec. 21, 2026

Warrants - Additional Informati

Warrants - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 Item Warrant $ / shares shares	Dec. 31, 2021 $ / shares shares
Public Warrants
Class of Warrant or Right [Line Items]
Number of warrants exercised | Warrant	10
Exercise price per share	$ 11.50
Warrants Outstanding | shares	10,541,657	10,541,667
Price per warrant outstanding	$ 0.17	$ 0.68
Private Placement Warrants [Member]
Class of Warrant or Right [Line Items]
Exercise price per share	$ 11.50
Warrants Outstanding | shares	5,432,237	5,432,237
Price per warrant outstanding	$ 0.39	$ 0.92
Private Placement Warrants [Member] | Release of Warrants When VWAP of Common Stock Equals or Exceeds $14.00
Class of Warrant or Right [Line Items]
Exercise price per share	$ 14
Threshold trading days for redemption of public warrants | Item	20
Threshold consecutive trading days for redemption of public warrants | Item	30
Warrants held in escrow | shares	551,096

Warrants - Schedule of Key Inpu

Warrants - Schedule of Key Inputs into Monte Carlo Simulation Model for Private Placement Warrants at Initial and Subsequent Measurement Date (Details) - Level 2 - Recurring - Private Placement Warrants	Sep. 30, 2022 yr	Dec. 31, 2021 yr
Risk-free interest rate
Class of Warrant or Right [Line Items]
Warrants and Rights Outstanding, Measurement Input	4.09	1.25
Dividend yield
Class of Warrant or Right [Line Items]
Warrants and Rights Outstanding, Measurement Input	0	0
Expected term (years)
Class of Warrant or Right [Line Items]
Warrants and Rights Outstanding, Measurement Input	4.23	4.98
Volatility
Class of Warrant or Right [Line Items]
Warrants and Rights Outstanding, Measurement Input	67.90	35.30
Exercise Price
Class of Warrant or Right [Line Items]
Warrants and Rights Outstanding, Measurement Input	11.50	11.50
Stock Price
Class of Warrant or Right [Line Items]
Warrants and Rights Outstanding, Measurement Input	2.15	5.87

Warrants - Schedule of Changes

Warrants - Schedule of Changes in Fair Value of Public and Private Placement Warrants (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Public Warrants
Class of Warrant or Right [Line Items]
Fair value as of beginning balance	$ 7,168
Change in valuation inputs or other assumptions	(5,376)
Fair value as of ending balance	1,792
Private Placement Warrants
Class of Warrant or Right [Line Items]
Fair value as of beginning balance	4,998
Change in valuation inputs or other assumptions	(2,885)
Fair value as of ending balance	2,113
Warrants
Class of Warrant or Right [Line Items]
Fair value as of beginning balance	12,166
Change in valuation inputs or other assumptions	(8,261)
Fair value as of ending balance	$ 3,905

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets and Liabilities Measured On Recurring Basis (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Liabilities:
Fair value of warrants and/or earn-out outstanding		$ 3,905	$ 12,166
Fair Value, Recurring
Assets:
Total assets		812	0
Liabilities:
Fair value of warrants and/or earn-out outstanding		6,322	30,247
Level 1 | Fair Value, Recurring
Assets:
Total assets		0	0
Liabilities:
Fair value of warrants and/or earn-out outstanding		1,792	7,168
Level 2 | Fair Value, Recurring
Assets:
Total assets		0	0
Liabilities:
Fair value of warrants and/or earn-out outstanding		2,113	4,998
Level 3 | Fair Value, Recurring
Assets:
Total assets		812	0
Liabilities:
Fair value of warrants and/or earn-out outstanding		2,417	18,081
Public Warrants | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	1,792	7,168
Public Warrants | Level 1 | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	1,792	7,168
Public Warrants | Level 2 | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	0	0
Public Warrants | Level 3 | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	0	0
Private Placement Warrants | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	2,113	4,998
Private Placement Warrants | Level 1 | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	0	0
Private Placement Warrants | Level 2 | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	2,113	4,998
Private Placement Warrants | Level 3 | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	0	0
Seller's Earn-Out | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	2,417	18,081
Seller's Earn-Out | Level 1 | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	0	0
Seller's Earn-Out | Level 2 | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	0	0
Seller's Earn-Out | Level 3 | Fair Value, Recurring
Liabilities:
Fair value of warrants and/or earn-out outstanding	[1]	2,417	18,081
Investment in SymetryML Holdings | Fair Value, Recurring
Assets:
Total assets	[2]	812	0
Investment in SymetryML Holdings | Level 1 | Fair Value, Recurring
Assets:
Total assets	[2]	0	0
Investment in SymetryML Holdings | Level 2 | Fair Value, Recurring
Assets:
Total assets	[2]	0	0
Investment in SymetryML Holdings | Level 3 | Fair Value, Recurring
Assets:
Total assets	[2]	$ 812	$ 0
[1] Refe r to Note 14 — Seller's Earn-Out and Note 15 — Warrants to the Consolidated Financial Statements for the year ended December 31, 2021 for further i nformation about the initial and subsequent measurement, including significant assumptions and valuation methodologies of these instruments. Refe r to Note 18— SymetryML and SymetryML Holdings belo w for further information about the initial measurement, including significant assumptions and valuation methodologies of this investment.

Fair Value Measurements - (Addi

Fair Value Measurements - (Additional Information) (Details)	Sep. 30, 2021 USD ($)
Level 3
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, asset or liability balance	$ 0

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Rollforward of Assets and Liabilities Classified as Level 3 (Details) - Level 3 $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Seller's Earn-Out Liability
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at December 31, 2021	$ 18,081
Additions	0
Measurement adjustments	(15,664)
Balance at September 30, 2022	2,417
Investment in SymetryML Holdings
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at December 31, 2021	0
Additions	861
Measurement adjustments	(49)
Balance at September 30, 2022	$ 812

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Computation of Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income (loss)	$ 5,725	$ 3,153	$ 21,762	$ 6,688
Basic	86,492,025	59,882,523	86,003,514	59,882,523
Effect of dilutive equity-based awards	5,630,396	7,088,624	6,882,337	4,912,507
Weighted-average common shares outstanding - diluted	92,122,421	66,971,147	92,885,851	64,795,030
Basic	$ 0.07	$ 0.05	$ 0.25	$ 0.11
Diluted	$ 0.06	$ 0.05	$ 0.23	$ 0.10

Earnings Per Share - Summary of

Earnings Per Share - Summary of Outstanding Potentially Dilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	27,739,707	637,920	26,487,766	2,814,037
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	1,541,098	637,920	565,303	2,814,037
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	2,840,126	0	2,563,980	0
Public Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	10,541,657	0	10,541,657	0
Private Placement Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	5,432,237	0	5,432,237	0
Seller's Earn-Out
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	6,785,714	0	6,785,714	0
Sponsor Earn-Out
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	598,875	0	598,875	0

Earnings Per Share - Summary _2

Earnings Per Share - Summary of Outstanding Potentially Dilutive Securities (Parenthetical) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	27,739,707	637,920	26,487,766	2,814,037
Private Placement Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares	5,432,237	0	5,432,237	0
Warrants Held in Escrow
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares			551,096

Symetryml And Symetryml Holdi_3

Symetryml And Symetryml Holdings - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Class of Stock [Line Items]
Gain on deconsolidation of SymetryML				$ 1,939
Amount raised to fund for SAFE Notes	$ 0		$ 525	$ 200	$ 1,225
SymetryML Holdings
Class of Stock [Line Items]
Percentage of interests owned by noncontrolling interests	0%			0%		41%
Gain on deconsolidation of SymetryML		$ 1,939		$ 1,939
Remeasurement of retained noncontrolling investment of fair value		$ 541
Fair Value of retained investment				$ 812		$ 0
Class A Equity Interests | SymetryML Holdings | Non Controlling Members Interest
Class of Stock [Line Items]
Percentage of interest owned by employees	50%			50%
Class B Equity Interests | SymetryML Holdings | Employees | Non Controlling Members Interest
Class of Stock [Line Items]
Percentage of interest owned by employees	50%			50%

Symetryml And Symetryml Holdi_4

Symetryml And Symetryml Holdings - Summary of Amounts Related to Accounting for Deconsolidation Transaction (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Equity [Abstract]
Fair value of consideration received	$ 0
Fair value of retained noncontrolling interest	861
Carrying amount of deconsolidated noncontrolling interest	2,372
Less: Carrying amount of deconsolidated net assets	(1,294)
Gain on Deconsolidation	$ 1,939

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Operating lease, Term of contract	3 years
New York Headquarters Office
Lessee, Lease, Description [Line Items]
Operating lease expiration year	2028
Letters of Credit
Lessee, Lease, Description [Line Items]
Line of credit	$ 983	$ 983

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Leases [Abstract]
Operating Lease Cost	$ 257	$ 729
Short Term Lease Cost	49	98
Variable Lease Cost	$ 0	$ 0

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information Related to Operating Leases (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Operating cash flows used for operating leases	$ 998
Right-of-use assets obtained in exchange for new operating lease obligations	$ 214

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information Related to Operating Leases (Details)	Sep. 30, 2022
Leases [Abstract]
Weighted average remaining lease term (years)	5 years 9 months 25 days
Weighted average discount rate (%)	3.25%

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
Remainder of 2022	$ 384
2023	1,484
2024	1,441
2025	1,433
2026	1,415
Thereafter	2,387
Total operating lease payments	8,544
Less: Imputed interest	(756)
Total operating lease liabilities	$ 7,788