CSG Systems International (CSGS) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Cover [Abstract]
Entity Registrant Name	CSG SYSTEMS INTERNATIONAL, INC.
Entity Central Index Key	0001005757
Document Type	10-Q
Document Period End Date	Sep. 30, 2022
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Trading Symbol	CSGS
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		31,505,433
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	0-27512
Entity Tax Identification Number	47-0783182
Entity Address, Address Line One	169 Inverness Dr W
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Englewood
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	(303)
Local Phone Number	200-2000
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, Par Value $0.01 Per Share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 146,685	$ 205,635
Short-term investments	575	28,037
Total cash, cash equivalents and short-term investments	147,260	233,672
Settlement and merchant reserve assets	172,609	186,267
Trade accounts receivable:
Billed, net of allowance of $4,998 and $4,250	238,831	244,317
Unbilled	51,139	35,802
Income taxes receivable	23,075	6,414
Other current assets	58,811	41,727
Total current assets	691,725	748,199
Non-current assets:
Property and equipment, net of depreciation of $111,994 and $111,244	71,856	73,580
Operating lease right-of-use assets	53,033	86,034
Intangible assets	72,259	86,964
Goodwill	295,196	321,330
Customer contract costs, net of amortization of $32,574 and $32,410	52,194	46,618
Deferred income taxes	13,791	8,584
Other assets	9,091	15,840
Total non-current assets	567,420	638,950
Total assets	1,259,145	1,387,149
Current liabilities:
Current portion of long-term debt	52,500	237,500
Operating lease liabilities	21,726	23,270
Customer deposits	36,442	43,546
Trade accounts payable	32,686	35,397
Accrued employee compensation	51,517	91,115
Settlement and merchant reserve liabilities	171,192	185,276
Deferred revenue	47,067	53,748
Income taxes payable	10,613	398
Other current liabilities	21,637	24,852
Total current liabilities	445,380	695,102
Non-current liabilities:
Long-term debt, net of unamortized discounts of $2,843 and $3,406	377,157	137,219
Operating lease liabilities	58,279	70,068
Deferred revenue	18,738	19,599
Income taxes payable	3,470	4,058
Deferred income taxes	110	7,752
Other non-current liabilities	11,706	13,107
Total non-current liabilities	469,460	251,803
Total liabilities	914,840	946,905
Stockholders' equity:
Preferred stock, par value $.01 per share; 10,000 shares authorized; zero shares issued and outstanding	0	0
Common stock, par value $.01 per share; 100,000 shares authorized; 31,664 and 32,495 shares outstanding	708	705
Additional paid-in capital	488,292	488,303
Treasury stock, at cost; 37,827and 36,713 shares	(995,606)	(930,106)
Accumulated other comprehensive income (loss):
Unrealized loss on short-term investments, net of tax	0	(6)
Cumulative foreign currency translation adjustments	(73,448)	(38,347)
Accumulated earnings	924,359	916,060
Total CSG stockholders' equity	344,305	436,609
Noncontrolling interest	0	3,635
Total stockholders' equity	344,305	440,244
Total liabilities and stockholders' equity	1,259,145	1,387,149
Software
Non-current assets:
Intangible assets	24,585	29,757
Acquired customer contracts
Non-current assets:
Intangible assets	$ 47,674	$ 57,207

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Trade accounts receivable-billed, allowance	$ 4,998	$ 4,250
Property and equipment, accumulated depreciation	111,994	111,244
Intangibles, accumulated amortization	272,705	266,449
Customer costs, accumulated amortization	32,574	32,410
Long-term debt, unamortized discounts	$ 2,843	$ 3,406
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	31,664,000	32,495,000
Treasury stock, shares	37,827,000	36,713,000
Software
Intangibles, accumulated amortization	$ 159,357	$ 152,283
Acquired customer contracts
Intangibles, accumulated amortization	$ 113,348	$ 114,166

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 273,308	$ 263,209	$ 799,876	$ 771,462
Cost of revenue (exclusive of depreciation, shown separately below)	138,462	134,705	415,014	401,185
Other operating expenses:
Research and development	35,754	34,384	103,365	99,350
Selling, general and administrative	59,026	54,923	173,833	152,988
Depreciation	5,896	6,225	17,685	18,604
Restructuring and reorganization charges	14,193	209	46,304	3,029
Total operating expenses	253,331	230,446	756,201	675,156
Operating income	19,977	32,763	43,675	96,306
Other income (expense):
Interest expense	(4,328)	(3,636)	(10,286)	(10,861)
Amortization of original issue discount	0	(794)	0	(2,350)
Interest and investment income, net	281	78	537	286
Loss on derivative liability upon debt conversion	0	0	(7,456)	0
Other, net	2,790	(5,875)	6,044	(6,530)
Total other	(1,257)	(10,227)	(11,161)	(19,455)
Income before income taxes	18,720	22,536	32,514	76,851
Income tax provision	(6,239)	(6,406)	(8,603)	(21,769)
Net income	$ 12,481	$ 16,130	$ 23,911	$ 55,082
Weighted-average shares outstanding:
Basic	30,941	31,756	31,219	31,825
Diluted	31,159	31,960	31,487	32,033
Earnings per common share:
Basic	$ 0.40	$ 0.51	$ 0.77	$ 1.73
Diluted	$ 0.40	$ 0.50	$ 0.76	$ 1.72

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)- UNAUDITED - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 12,481	$ 16,130	$ 23,911	$ 55,082
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(17,919)	(6,492)	(35,101)	(4,635)
Unrealized holding gains (losses) on short-term investments arising during period	3	3	6	(10)
Other comprehensive loss, net of tax	(17,916)	(6,489)	(35,095)	(4,645)
Total comprehensive income (loss), net of tax	$ (5,435)	$ 9,641	$ (11,184)	$ 50,437

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - UNAUDITED - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Adjustments due to adoption of new accounting standards	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Earnings	Accumulated Earnings Adjustments due to adoption of new accounting standards	Noncontrolling Interest
Balance, beginning of period, shares at Dec. 31, 2020		32,713,000
Balance, beginning of period at Dec. 31, 2020	$ 422,395	$ 700	$ 470,557		$ (894,126)	$ (31,138)	$ 876,402
Net income							19,631
Unrealized gain (loss) on short-term investments, net of tax						(6)
Foreign currency translation adjustments						(355)
Total comprehensive income (loss), net of tax	19,270
Repurchase of common stock	(11,721)	$ (1)	(5,202)		(6,518)
Repurchase of common stock, shares		(252,000)
Issuance of common stock pursuant to employee stock purchase plan	619		619
Issuance of common stock pursuant to employee stock purchase plan, shares		16,000
Issuance of restricted common stock pursuant to stock-based compensation plans		$ 5	(5)
Issuance of restricted common stock pursuant to stock-based compensation plans, shares		487,000
Cancellation of restricted common stock issued pursuant to stock-based compensation plans, shares		(1,000)
Stock-based compensation expense	5,395		5,395
Dividends	(8,243)						(8,243)
Balance, ending of period, shares at Mar. 31, 2021		32,963,000
Balance, ending of period at Mar. 31, 2021	427,715	$ 704	471,364		(900,644)	(31,499)	887,790
Balance, beginning of period, shares at Dec. 31, 2020		32,713,000
Balance, beginning of period at Dec. 31, 2020	422,395	$ 700	470,557		(894,126)	(31,138)	876,402
Net income	55,082
Unrealized gain (loss) on short-term investments, net of tax	(10)
Foreign currency translation adjustments	(4,635)
Total comprehensive income (loss), net of tax	50,437
Balance, ending of period, shares at Sep. 30, 2021		32,687,000
Balance, ending of period at Sep. 30, 2021	443,624	$ 704	482,387		(914,274)	(35,783)	906,955		$ 3,635
Balance, beginning of period, shares at Mar. 31, 2021		32,963,000
Balance, beginning of period at Mar. 31, 2021	427,715	$ 704	471,364		(900,644)	(31,499)	887,790
Net income							19,321
Unrealized gain (loss) on short-term investments, net of tax						(7)
Foreign currency translation adjustments						2,212
Total comprehensive income (loss), net of tax	21,526
Repurchase of common stock	(7,049)		(92)		(6,957)
Repurchase of common stock, shares		(156,000)
Issuance of common stock pursuant to employee stock purchase plan	716		716
Issuance of common stock pursuant to employee stock purchase plan, shares		19,000
Issuance of restricted common stock pursuant to stock-based compensation plans, shares		6,000
Cancellation of restricted common stock issued pursuant to stock-based compensation plans, shares		(35,000)
Stock-based compensation expense	5,022		5,022
Dividends	(8,150)						(8,150)
Balance, ending of period, shares at Jun. 30, 2021		32,797,000
Balance, ending of period at Jun. 30, 2021	439,780	$ 704	477,010		(907,601)	(29,294)	898,961
Net income	16,130						16,130
Unrealized gain (loss) on short-term investments, net of tax	3					3
Foreign currency translation adjustments	(6,492)					(6,492)
Total comprehensive income (loss), net of tax	9,641
Repurchase of common stock	(6,774)		(101)		(6,673)
Repurchase of common stock, shares		(145,000)
Issuance of common stock pursuant to employee stock purchase plan	591		591
Issuance of common stock pursuant to employee stock purchase plan, shares		15,000
Issuance of restricted common stock pursuant to stock-based compensation plans, shares		56,000
Cancellation of restricted common stock issued pursuant to stock-based compensation plans, shares		(36,000)
Stock-based compensation expense	4,887		4,887
Dividends	(8,136)						(8,136)
Noncontrolling interest related to business combination	3,635								3,635
Balance, ending of period, shares at Sep. 30, 2021		32,687,000
Balance, ending of period at Sep. 30, 2021	$ 443,624	$ 704	482,387		(914,274)	(35,783)	906,955		3,635
Balance, beginning of period, shares at Dec. 31, 2021	32,495,000	32,495,000
Balance, beginning of period at Dec. 31, 2021	$ 440,244	$ 705	488,303		(930,106)	(38,353)	916,060		3,635
Net income							6,113
Unrealized gain (loss) on short-term investments, net of tax						(2)
Foreign currency translation adjustments						(1,182)
Total comprehensive income (loss), net of tax	4,929
Repurchase of common stock	(23,801)	$ (1)	(7,804)		(15,996)
Repurchase of common stock, shares		(389,000)
Issuance of common stock pursuant to employee stock purchase plan	650		650
Issuance of common stock pursuant to employee stock purchase plan, shares		12,000
Issuance of restricted common stock pursuant to stock-based compensation plans		$ 5	(5)
Issuance of restricted common stock pursuant to stock-based compensation plans, shares		476,000
Cancellation of restricted common stock issued pursuant to stock-based compensation plans, shares		(34,000)
Stock-based compensation expense	5,581		5,581
Settlement of convertible debt securities, net of tax	(4,845)		(4,845)
Dividends	(8,586)						(8,586)
Balance, ending of period, shares at Mar. 31, 2022		32,560,000
Balance, ending of period at Mar. 31, 2022	$ 414,172	$ 709	472,078	$ (9,802)	(946,102)	(39,537)	923,389	$ 9,802	3,635
Balance, beginning of period, shares at Dec. 31, 2021	32,495,000	32,495,000
Balance, beginning of period at Dec. 31, 2021	$ 440,244	$ 705	488,303		(930,106)	(38,353)	916,060		3,635
Net income	23,911
Unrealized gain (loss) on short-term investments, net of tax	6
Foreign currency translation adjustments	(35,101)
Total comprehensive income (loss), net of tax	$ (11,184)
Balance, ending of period, shares at Sep. 30, 2022	31,664,000	31,664,000
Balance, ending of period at Sep. 30, 2022	$ 344,305	$ 708	488,292		(995,606)	(73,448)	924,359		0
Balance, beginning of period, shares at Mar. 31, 2022		32,560,000
Balance, beginning of period at Mar. 31, 2022	414,172	$ 709	472,078	$ (9,802)	(946,102)	(39,537)	923,389	$ 9,802	3,635
Net income							5,317
Unrealized gain (loss) on short-term investments, net of tax						5
Foreign currency translation adjustments						(16,000)
Total comprehensive income (loss), net of tax	(10,678)
Repurchase of common stock	(21,673)		(116)		(21,557)
Repurchase of common stock, shares		(362,000)
Issuance of common stock pursuant to employee stock purchase plan	773		773
Issuance of common stock pursuant to employee stock purchase plan, shares		15,000
Issuance of restricted common stock pursuant to stock-based compensation plans		$ 1	(1)
Issuance of restricted common stock pursuant to stock-based compensation plans, shares		42,000
Cancellation of restricted common stock issued pursuant to stock-based compensation plans		$ (1)	1
Cancellation of restricted common stock issued pursuant to stock-based compensation plans, shares		(60,000)
Stock-based compensation expense	6,536		6,536
Dividends	(8,473)						(8,473)
Write-off of noncontrolling interest	(3,635)								(3,635)
Balance, ending of period, shares at Jun. 30, 2022		32,195,000
Balance, ending of period at Jun. 30, 2022	377,022	$ 709	479,271		(967,659)	(55,532)	920,233
Net income	12,481						12,481
Unrealized gain (loss) on short-term investments, net of tax	3					3
Foreign currency translation adjustments	(17,919)					(17,919)
Total comprehensive income (loss), net of tax	(5,435)
Repurchase of common stock	(28,382)		(435)		(27,947)
Repurchase of common stock, shares		(495,000)
Issuance of common stock pursuant to employee stock purchase plan	794		794
Issuance of common stock pursuant to employee stock purchase plan, shares		16,000
Issuance of restricted common stock pursuant to stock-based compensation plans, shares		13,000
Cancellation of restricted common stock issued pursuant to stock-based compensation plans		$ (1)	1
Cancellation of restricted common stock issued pursuant to stock-based compensation plans, shares		(65,000)
Stock-based compensation expense	8,661		8,661
Dividends	$ (8,355)						(8,355)
Balance, ending of period, shares at Sep. 30, 2022	31,664,000	31,664,000
Balance, ending of period at Sep. 30, 2022	$ 344,305	$ 708	$ 488,292		$ (995,606)	$ (73,448)	$ 924,359		$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 23,911	$ 55,082
Adjustments to reconcile net income to net cash provided by operating activities-
Depreciation	21,817	18,604
Amortization	36,470	34,314
Amortization of original issue discount	0	2,350
Asset impairment	30,126	415
Loss on short-term investments and other	19	51
Loss on derivative liability upon debt conversion	7,456	0
Loss on extinguishment of debt	0	132
Loss on acquisition of controlling interest	0	6,180
Unrealized foreign currency transactions gains, net	(1,700)	(339)
Deferred income taxes	(16,457)	2,188
Stock-based compensation	20,778	15,304
Changes in operating assets and liabilities, net of acquired amounts:
Trade accounts receivable, net	(22,026)	(11,621)
Other current and non-current assets and liabilities	(16,430)	(13,912)
Income taxes payable/receivable	(7,188)	(6,111)
Trade accounts payable and accrued liabilities	(67,053)	(18,329)
Deferred revenue	(150)	4,001
Net cash provided by operating activities	9,573	88,309
Cash flows from investing activities:
Purchases of software, property and equipment	(31,564)	(22,531)
Purchases of short-term investments	0	(57,734)
Proceeds from sale/maturity of short-term investments	27,447	80,092
Acquisition of and investments in business, net of cash acquired	0	(51,111)
Net cash used in investing activities	(4,117)	(51,284)
Cash flows from financing activities:
Proceeds from issuance of common stock	2,217	1,926
Payment of cash dividends	(25,396)	(24,653)
Repurchase of common stock	(73,380)	(25,568)
Deferred acquisition payments	(1,959)	0
Proceeds from long-term debt	290,000	150,000
Payments on long-term debt	(247,926)	(126,563)
Payments of deferred financing costs	0	3,000
Settlement and merchant reserve activity	(13,931)	(7,735)
Net cash used in financing activities	(70,375)	(35,593)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash	(7,689)	(1,872)
Net decrease in cash, cash equivalents and restricted cash	(72,608)	(440)
Cash, cash equivalents and restricted cash, beginning of period	391,902	354,730
Cash, cash equivalents and restricted cash, end of period	319,294	354,290
Cash paid during the period for-
Interest	12,367	11,947
Income taxes	31,817	25,688
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	146,685	195,365
Settlement and merchant reserve assets	172,609	158,925
Total cash, cash equivalents and restricted cash	$ 319,294	$ 354,290

General

General	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	1. GENERAL We have prepared the accompanying unaudited condensed consolidated financial statements as of September 30, 2022 and December 31, 2021, and for the quarters and nine months ended September 30, 2022 and 2021, in accordance with accounting principles generally accepted in the United States of America (“U.S.”) (“GAAP”) for interim financial information, and pursuant to the instructions to Form 10-Q and the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of our management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of our financial position and operating results have been included. The unaudited Condensed Consolidated Financial Statements (the “Financial Statements”) should be read in conjunction with the Consolidated Financial Statements and notes thereto, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”), contained in our Annual Report on Form 10-K for the year ended December 31, 2021 (our “2021 10-K”), filed with the SEC. The results of operations for the quarter and nine months ended September 30, 2022 are not necessarily indicative of the expected results for the entire year ending December 31, 2022 .

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 Use of Estimates in Preparation of Financial Statements. The preparation of the accompanying Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our Financial Statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. Reclassifications. Certain amounts within our net cash provided by operating activities on our Statement of Cash Flows for the nine months ended September 30, 2021 have been reclassified to conform to the September 30, 2022 presentation. Revenue. The majority of our future revenue is related to our revenue management solution customer contracts that include variable consideration dependent upon a series of monthly volumes and/or daily usage of services and have contractual terms ending from 2022 through 2028 . Our customer contracts may include guaranteed minimums and fixed monthly or annual fees. As of September 30, 2022 , our aggregate amount of the transaction price allocated to the remaining performance obligations is $ 1.8 billion, which is made up of fixed fee consideration and guaranteed minimums expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied). We expect to recognize approximately 62 % of this amount by the end of 2024 , with the remaining amount recognized by the end of 2028 . We have excluded from this amount variable consideration expected to be recognized in the future related to performance obligations that are unsatisfied. The nature, amount, timing, and uncertainty of our revenue and how revenue and cash flows are affected by economic factors is most appropriately depicted by revenue type, geographic region, and customer vertical. Revenue by type for the quarters and nine months ended September 30, 2022 and 2021 were as follows (in thousands): Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 SaaS and related solutions $ 238,614 $ 231,418 $ 704,303 $ 686,685 Software and services 23,123 19,518 61,627 49,330 Maintenance 11,571 12,273 33,946 35,447 Total revenue $ 273,308 $ 263,209 $ 799,876 $ 771,462 We use the location of the customer as the basis of attributing revenue to geographic regions. Revenue by geographic region for the quarters and nine months ended September 30, 2022 and 2021, as a percentage of our total revenue, were as follows: Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Americas (principally the U.S.) 86 % 85 % 85 % 85 % Europe, Middle East, and Africa 10 % 12 % 11 % 11 % Asia Pacific 4 % 3 % 4 % 4 % Total revenue 100 % 100 % 100 % 100 % We generate our revenue primarily from the global communications markets; however, we serve an expanding group of customers in other industry markets including retail, healthcare, financial services, insurance, and government entities. Revenue by customer vertical for the quarters and nine months ended September 30, 2022 and 2021, as a percentage of our total revenue, were as follows: Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Broadband/Cable/Satellite 55 % 56 % 55 % 57 % Telecommunications 20 % 20 % 19 % 19 % Other 25 % 24 % 26 % 24 % Total revenue 100 % 100 % 100 % 100 % Deferred revenue recognized during the quarters ended September 30, 2022 and 2021 was $ 7.6 million and $ 9.9 million, respectively and during the nine months ended September 30, 2022 and 2021 was $ 47.9 million and $ 41.9 million, respectively. Cash and Cash Equivalents. We consider all highly liquid investments with original maturities of three months or less at the date of the purchase to be cash equivalents. As of September 30, 2022 and December 31, 2021, our cash equivalents consist primarily of institutional money market funds, commercial paper, and time deposits held at major banks. For the cash and cash equivalents denominated in foreign currencies and/or located outside the U.S., we do not anticipate any material amounts being unavailable for use in running our business, but may face limitations on moving cash out of certain foreign jurisdictions due to currency controls and potential negative economic consequences. Restricted Cash. Restricted cash includes cash that is legally or contractually restricted, as well as our settlement and merchant reserve assets. As of September 30, 2022 and December 31, 2021 , we had $ 1.5 million and $ 1.4 million, respectively, of restricted cash that serves to collateralize outstanding letters of credit included in cash and cash equivalents in our unaudited Condensed Consolidated Balance Sheets (“Balance Sheets” or “Balance Sheet”). Settlement and Merchant Reserve Assets and Liabilities. Settlement assets and liabilities represent cash collected on behalf of customers via payment processing services which is held for an established holding period until settlement with the customer. The holding period is generally one to four business days depending on the payment model, risk profile, and contractual terms with the customer. During the holding period, cash is held in trust with various major financial institutions and a corresponding liability is recorded for the amounts owed to the merchant. At any given time, there may be differences between the cash held in trust and the corresponding liability due to the timing of operating-related cash transfers. Merchant reserves represent deposits collected from customers to mitigate our risk of loss due to nonperformance of settlement obligations initiated by our customers using our payment processing services, or non-payment by customers for services rendered by us. We perform a credit risk evaluation on each customer based on multiple criteria, which provide the basis for the deposit amount required for each customer. For the duration of our relationship with each customer, we hold their reserve deposits with major financial institutions. We hold these funds in separate accounts and are fully offset by corresponding liabilities. The following table summarizes our settlement and merchant reserve assets and liabilities as of the indicated periods (in thousands): September 30, 2022 December 31, 2021 Assets Liabilities Assets Liabilities Settlement assets/liabilities $ 156,666 $ 155,311 $ 171,505 $ 170,514 Merchant reserve assets/liabilities 15,943 15,881 14,762 14,762 Total $ 172,609 $ 171,192 $ 186,267 $ 185,276 Financial Instruments . Our financial instruments as of September 30, 2022 and December 31, 2021 include cash and cash equivalents, short-term investments, settlement and merchant reserve assets and liabilities, accounts receivable, accounts payable, and debt. Due to their short maturities, the carrying amounts of cash equivalents, settlement and merchant reserve assets and liabilities, accounts receivable, and accounts payable approximate their fair value. Our short-term investments and certain of our cash equivalents are considered “available-for-sale” and are reported at fair value in our Balance Sheets, with unrealized gains and losses, net of the related income tax effect, excluded from earnings and reported in a separate component of stockholders’ equity. Realized and unrealized gains and losses were not material in any period presented. Primarily all short-term investments held by us as of September 30, 2022 and December 31, 2021 have contractual maturities of less than two years from the time of acquisition. Our short-term investments as of September 30, 2022 and December 31, 2021 consisted almost entirely of fixed income securities. Proceeds from the sale/maturity of short-term investments for the nine months ended September 30, 2022 and 2021 were $ 27.4 million and $ 80.1 million, respectively, and purchases of short-term investments for the nine months ended September 30, 2022 and 2021 were zero and $ 57.7 million, respectively. Our short-term investments as of September 30, 2022 and December 31, 2021 were $ 0.6 million and $ 28.0 million, respectively. The following table represents the fair value hierarchy based upon three levels of inputs, of which Levels 1 and 2 are considered observable and Level 3 is unobservable, for our financial assets measured at fair value (in thousands): September 30, 2022 December 31, 2021 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 4,797 $ — $ 4,797 $ 29,305 $ — $ 29,305 Commercial paper — — — — 1,000 1,000 Short-term investments: Corporate debt securities — — — — 24,352 24,352 Asset-backed securities — 575 575 — 3,685 3,685 Total $ 4,797 $ 575 $ 5,372 $ 29,305 $ 29,037 $ 58,342 Valuation inputs used to measure the fair values of our money market funds were derived from quoted market prices. The fair values of all other financial instruments are based upon pricing provided by third-party pricing services. These prices were derived from observable market inputs. We have chosen not to record our debt at fair value, with changes recognized in earnings each reporting period. The following table indicates the carrying value (par value for convertible notes) and estimated fair value of our debt as of the indicated periods (in thousands): September 30, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value 2021 Credit Agreement: Term Loan (carrying value including $ 142,500 $ 142,500 $ 148,125 $ 148,125 Revolver 290,000 290,000 — — 2016 Convertible Notes (par value) — — 230,000 244,950 The fair value for our credit agreement was estimated using a discounted cash flow methodology, while the fair value for our convertible notes was estimated based upon quoted market prices or recent sales activity, both of which are considered Level 2 inputs. Accounting Pronouncement Adopted. In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. ASU 2020-06 also amends the related Earnings Per Share guidance. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, and can be adopted on either a fully retrospective or modified retrospective basis. On January 1, 2022, we adopted this ASU using the modified retrospective transition method and recorded an approximately $ 10 million cumulative-effect adjustment to our beginning retained earnings balance.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	3. GOODWILL AND INTANGIBLE ASSETS Goodwill. The changes in the carrying amount of goodwill for the nine months ended September 30, 2022 were as follows (in thousands): January 1, 2022 balance $ 321,330 Adjustments related to prior acquisitions 1,911 Impairment charge related to MobileCard Holdings, LLC ( 7,211 ) Effects of changes in foreign currency exchange rates ( 20,834 ) September 30, 2022 balance $ 295,196 The adjustments related to prior acquisitions are primarily a result of the finalization of the purchase accounting for MobileCard Holdings, LLC and DGIT Systems Pty Ltd. See Notes 5 and 6 for further discussion, to include management's decision to dissolve the MobileCard business resulting in the impairment charge recorded above. Other Intangible Assets. Our other intangible assets subject to ongoing amortization consist primarily of acquired customer contracts and software. As of September 30, 2022 and December 31, 2021, the carrying values of these assets were as follows (in thousands): September 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount Acquired customer contracts $ 161,022 $ ( 113,348 ) $ 47,674 $ 171,373 $ ( 114,166 ) $ 57,207 Software 183,942 ( 159,357 ) 24,585 182,040 ( 152,283 ) 29,757 Total other intangible assets $ 344,964 $ ( 272,705 ) $ 72,259 $ 353,413 $ ( 266,449 ) $ 86,964 The total amortization expense related to other intangible assets for the third quarters of 2022 and 2021 were $ 6.9 million and $ 6.5 million, respectively, and for the nine months ended September 30, 2022 and 2021 were $ 21.8 million and $ 18.0 million, respectively. Based on the September 30, 2022 net carrying value of our intangible assets, the estimated total amortization expense for each of the five succeeding fiscal years ending December 31 are: 2022 - $ 28.4 million; 2023 - $ 20.7 million; 2024 - $ 13.2 million; 2025 - $ 10.7 million; and 2026 - $ 7.5 million. Customer Contract Costs . As of September 30, 2022 and December 31, 2021, the carrying values of our customer contract cost assets, related to those contracts with a contractual term greater than one year, were as follows (in thousands): September 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount Customer contract costs $ 84,768 $ ( 32,574 ) $ 52,194 $ 79,028 $ ( 32,410 ) $ 46,618 The total amortization expense related to customer contract costs for the third quarters of 2022 and 2021 were $ 3.8 million and $ 5.3 million, respectively, and for the nine months ended September 30, 2022 and 2021 were $14.2 million and $ 15.0 million, respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	4. DEBT Our long-term debt, as of September 30, 2022 and December 31, 2021, was as follows (in thousands): September 30, December 31, 2022 2021 2021 Credit Agreement: 2021 Term Loan, due September 2026 , interest at adjusted LIBOR plus 5.299 % at September 30, 2022) $ 142,500 $ 148,125 Less – deferred financing costs ( 2,843 ) ( 3,406 ) 2021 Term Loan, net of unamortized discounts 139,657 144,719 $ 450 million revolving loan facility, due September 2026 , interest at adjusted 5.278 % at 290,000 - 2016 Convertible Notes: 2016 Convertible Notes – Senior convertible notes, due March 15, 2036 , 4.25 % - 230,000 Total debt, net of unamortized discounts 429,657 374,719 Current portion of long-term debt, net of unamortized discounts ( 52,500 ) ( 237,500 ) Long-term debt, net of unamortized discounts $ 377,157 $ 137,219 2021 Credit Agreement. During the nine months ended September 30, 2022 , we made $ 5.6 million of principal repayments on our $ 150 million aggregate principal five-year term loan (the “2021 Term Loan”). In March 2022 we borrowed $ 245.0 million from our $ 450 million aggregate principal five-year revolving loan facility (“2021 Revolver”) to settle our 2016 Convertible Notes (see below). Additionally, during the third quarter of 2022 we borrowed an additional $ 45.0 million from our 2021 Revolver, leaving us with $ 160.0 million available. As of September 30, 2022 , the interest rate on our 2021 Term Loan was 5.299 % (adjusted LIBOR plus 1.625 % per annum), the interest rates on our 2021 Revolver range from 4.895 % to 5.299 % (adjusted LIBOR plus 1.625% per annum), and our commitment fee on the unused $ 160.0 million was 0.20 %. The interest rates under the 2021 Credit Agreement are based upon our choice of an adjusted LIBOR rate plus an applicable margin of 1.375 % - 2.125 %, or an alternate base rate (“ABR”) plus an applicable margin of 0.375 % - 1.125 %, with the applicable margin, depending on our then-net secured total leverage ratio. We will pay a commitment fee of 0.150 % - 0.325 % of the average daily unused amount of the 2021 Revolver, with the commitment fee rate also dependent upon our then-net secured total leverage ratio. The 2021 Credit Agreement includes LIBOR transition language in which we can elect an ABR, a Eurodollar rate, an alternate currency term rate, or an alternate currency daily rate. 2016 Convertible Notes. During the period from, and including, December 15, 2021 to the close of business on the business day immediately preceding March 15, 2022 (the “Conversion Period”), the 2016 Convertible Note holders were able to convert all or any portion of their 2016 Convertible Notes at the conversion rate then in effect ( 17.7621 shares of our common stock per $ 1,000 principal amount of the 2016 Convertible Notes). For the 2016 Convertible Notes presented during this Conversion Period, the settlement amount was equal to the sum of the daily settlement amounts for each of the following 40 consecutive trading days during the period of January 12, 2022 to March 10, 2022 (the “Observation Period”). During the Conversion Period, $ 229.1 million principal amount of the 2016 Convertible Notes were converted. On March 15, 2022, we paid each converting holder that exercised their conversion right, cash in an amount equal to $ 1,053.68 per each $ 1,000 principal amount of 2016 Convertible Notes being converted, for a total cash payment of $ 241.4 million. The remaining principal amount of $ 0.9 million that was not converted by the holders was redeemed and paid for on March 15, 2022 at a redemption price of 100 % of the principal amount. Total settlement of the 2016 Convertible Notes was $ 242.3 million. As a result of our irrevocable election made in December 2021 to settle all conversions during the Conversion Period (discussed above) in cash, a derivative liability was created and required to be separated from the debt upon conversion by the holders. There were no conversions as of December 31, 2021. At the close of the Observation Period, as a result of the conversions in March 2022, we recognized a $ 7.5 million loss on derivative liability upon debt conversion due to the related change in our stock price over the Observation Period. The loss was recorded to other income (expense) in our unaudited Condensed Consolidated Statements of Income (the “Income Statements”) with the remaining amount paid above par recorded to additional paid-in capital.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Acquisitions	5. ACQUISITIONS Tekzenit, Inc. In 2020, we acquired Tekzenit, Inc. (“Tekzenit”) for a purchase price of approximately $ 10 million. The purchase agreement includes provisions for additional purchase price (“Provisional Purchase Price”) payments in the form of earn-out and qualified sales payments for up to $ 10 million over a three-year measurement period upon meeting certain financial and sales criteria. Of the Provisional Purchase Price amount, $ 6 million is considered contingent purchase price payments with the remaining $ 4 million tied to certain financial and sales criteria over a defined service period by the eligible recipients and is therefore accounted for as post-acquisition compensation. As of September 30, 2022 , we have accrued $ 0.6 million related to the contingent purchase price payments and have no t accrued any amounts related to the post-acquisition compensation payments due to the uncertainty of payment. MobileCard Holdings, LLC. In 2018, we invested in MobileCard Holdings, LLC (“MobileCard”), a mobile money fintech payment company that enables omni-channel digital payments and financial inclusion in Latin America. In July 2021, we obtained a 64 % controlling interest in the company, and beginning in the third quarter of 2021, the results of MobileCard were consolidated in our results of operations. As of June 30, 2022 the purchase accounting for the MobileCard transaction was complete. We recorded goodwill of $ 7.2 million, acquired client contracts of $ 2.6 million, and technology of $ 0.9 million. The non-controlling interest of $ 3.6 million was recorded in total stockholders' equity. In June 2022, our management team, with the support of our Board of Directors (the "Board"), decided to dissolve the MobileCard business. See Note 6 for additional discussion. Keydok, LLC. On September 14, 2021 , we acquired Keydok LLC ( “ Keydok”), a digital identity and document management platform provider, headquartered in Mexico. We acquired 100 % of the equity of Keydok for a purchase price of $ 1.0 million, which includes provisions for up to $ 18.0 million of potential future earn-out payments. The earn-out payments are tied to performance-based goals and a defined service period by the eligible recipients and are accounted for as post-acquisition compensation. The earn-out period is through September 30, 2025. As of September 30, 2022 , we have no t accrued any amounts related to the potential earn-out payments due to the uncertainty of payment. As of June 30, 2022 the purchase accounting for the Keydok acquisition was complete. We recorded goodwill of $ 1.0 million . DGIT Systems Pty Ltd. On October 4, 2021 , we acquired DGIT Systems Pty Ltd ( “DGIT” ), a provider of configure, price and quote (CPQ) and order management solutions for the telecommunications industry. We acquired 100 % of the equity of DGIT for a purchase price of approximately $ 16 million, approximately $ 14 million paid upon close and the remaining escrowed funds of approximately $ 2 million to be paid over the next four years , subject to certain reductions, as applicable. This acquisition includes provisions for up to approximately $ 13 million of potential future earn-out payments. The earn-out payments are tied to performance-based goals and a defined service period by the eligible recipients and are accounted for as post-acquisition compensation, as applicable. The earn-out period is through September 30, 2025. As of September 30, 2022 , we have accrued $ 0.3 million related to the potential earn-out payments. As of September 30, 2022 the purchase accounting for the DGIT acquisition was complete. We recorded goodwill of $ 11.8 million, acquired client contracts of $ 5.1 million, and acquired software of $ 3.6 million and liabilities assumed primarily included deferred revenue of $ 1.9 million, accrued income taxes of $ 1.2 million, and accrued employee compensation of $ 1.1 million.

Restructuring and Reorganizatio

Restructuring and Reorganization Charges	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Reorganization Charges	6. RESTRUCTURING AND REORGANIZATION CHARGES During the third quarters of 2022 and 2021 , we recorded restructuring and reorganization charges of $ 14.2 million and $ 0.2 million, respectively, and for the nine months ended September 30, 2022 and 2021 , we recorded restructuring and reorganization charges of $ 46.3 million and $ 3.0 million, respectively . During the nine months ended September 30, 2022 we implemented the following restructuring and reorganizational activities: • In connection with our workplace of the future philosophy, we consolidated space at thirteen of our leased real estate locations in Australia, India, Sweden, and the U.S., resulting in restructuring charges of $ 23.0 million related to the impairments of operating lease right-of-use assets, furniture and fixtures, and leasehold improvements, and $ 4.1 million of accelerated depreciation. • In June 2022, our management team, with the support of our Board, decided to dissolve the MobileCard business, in which we had acquired a controlling interest in July of 2021 (see Note 5). MobileCard was not meeting its projected targets. As a result, we recorded net impairment charges of $ 7.0 million, to include the write-offs of the remaining acquired intangible assets, goodwill, and the noncontrolling interest. We also terminated approximately 40 employees, which resulted in restructuring charges related to involuntary terminations of $ 0.6 million. • We reduced our workforce by approximately 80 employees, mainly in North America, as a result of organizational changes and efficiencies, to include a margin improvement initiative that began in the second quarter of 2022. As a result, we incurred restructuring charges related to involuntary terminations of $ 7.0 million. The activity in the restructuring and reorganization reserves during the nine months ended September 30, 2022 was as follows (in thousands): Termination Benefits Other Total January 1, 2022, balance $ 675 $ - $ 675 Charged to expense during period 7,604 38,700 46,304 Cash payments ( 5,024 ) ( 4,578 ) ( 9,602 ) Adjustment for asset impairment - ( 29,986 ) ( 29,986 ) Adjustment for accelerated depreciation - ( 4,136 ) ( 4,136 ) Other 788 - 788 September 30, 2022, balance $ 4,043 $ - $ 4,043 , $ 3.9 million of the restructuring and reorganization reserves were included in current liabilities.

Commitments, Guarantees and Con

Commitments, Guarantees and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments, Guarantees and Contingencies	7. COMMITMENTS, GUARANTEES AND CONTINGENCIES Guarantees . In the ordinary course of business, we may provide guarantees in the form of bid bonds, performance bonds, or standby letters of credit. At September 30, 2022 , we had $ 2.3 million of restricted assets used to collateralize these guarantees, with $ 1.5 million included in cash and cash equivalents and $ 0.8 million included in other non-current assets. We have bid bonds and performance guarantees in the form of surety bonds issued through a third-party of $ 3.5 million that were not required to be recorded on our Balance Sheet. We are ultimately liable for claims that may occur against these guarantees. We have no history of material claims or are aware of circumstances that would require us to pay under any of these arrangements. We also believe that the resolution of any claim that may arise in the future, either individually or in the aggregate, would not be material to our Financial Statements. Additionally, we have money transmitter bonds issued through a third-party for the benefit of various states to comply with the states’ financial requirements and industry regulations for money transmitter licenses. At September 30, 2022 , we had total aggregate money transmitter bonds of approximately $ 17 million outstanding. Warranties. We generally warrant that our solutions and related offerings will conform to published specifications, or to specifications provided in an individual customer arrangement, as applicable. The typical warranty period is 90 days from the date of acceptance of the solution or offering. For certain service offerings we provide a warranty for the duration of the services provided. We generally warrant that those services will be performed in a professional and skillful manner. The typical remedy for breach of warranty is to correct or replace any defective deliverable, and if not possible or practical, we will accept the return of the defective deliverable and refund the amount paid under the customer arrangement that is allocable to the defective deliverable. Our contracts also generally contain limitation of damages provisions in an effort to reduce our exposure to monetary damages arising from breach of warranty claims. Historically, we have incurred minimal warranty costs, and as a result, do not maintain a warranty reserve. Solution and Services Indemnifications. Our arrangements with our customers generally include an indemnification provision that will indemnify and defend a customer in actions brought against the customer that claim our products and/or services infringe upon a copyright, trade secret, or valid patent. Historically, we have not incurred any significant costs related to such indemnification claims, and as a result, do not maintain a reserve for such exposure. Claims for Company Non-performance. Our arrangements with our customers typically limit our liability for breach to a specified amount of the direct damages incurred by the customer resulting from the breach. From time-to-time, these arrangements may also include provisions for possible liquidated damages or other financial remedies for our non-performance, or in the case of certain of our revenue management platforms, provisions for damages related to service level performance requirements. The service level performance requirements typically relate to system availability and timeliness of service delivery. As of September 30, 2022, we believe we have adequate reserves, based on our historical experience, to cover any reasonably anticipated exposure as a result of our nonperformance for any past or current arrangements with our customers. Indemnifications Related to Officers and the Board of Directors. We have agreed to indemnify members of our Board and certain of our officers if they are named or threatened to be named as a party to any proceeding by reason of the fact that they acted in such capacity. We maintain directors’ and officers’ (D&O) insurance coverage to protect against such losses. We have not historically incurred any losses related to these types of indemnifications, and are not aware of any pending or threatened actions or claims against any officer or member of our Board. As a result, we have not recorded any liabilities related to such indemnifications as of September 30, 2022. In addition, as a result of the insurance policy coverage, we believe these indemnification agreements are not significant to our results of operations. Legal Proceedings. From time-to-time, we are involved in litigation relating to claims arising out of our operations in the normal course of business.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Common Share	8. EARNINGS PER COMMON SHARE Basic and diluted earnings per common share (“EPS”) amounts are presented on the face of the accompanying Income Statements. The reconciliation of the basic and diluted EPS denominators related to the common shares is included in the following table (in thousands): Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Basic weighted-average common shares 30,941 31,756 31,219 31,825 Dilutive effect of restricted common stock 218 204 268 208 Diluted weighted-average common shares 31,159 31,960 31,487 32,033 The stock warrants have a dilutive effect only in those quarterly periods in which our average stock price exceeds the exercise price of $ 26.68 per warrant (under the treasury stock method), and are not subject to performance vesting conditions (see Note 9). Potentially dilutive common shares related to non-participating unvested restricted stock excluded from the computation of diluted EPS, as the effect was antidilutive, were not material in any period presented.

Stockholders' Equity and Equity

Stockholders' Equity and Equity Compensation Plans	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity and Equity Compensation Plans	9. STOCKHOLDERS’ EQUITY AND EQUITY COMPENSATION PLANS Stock Repurchase Program. We currently have a stock repurchase program, approved by our Board, authorizing us to repurchase shares of our common stock from time-to-time as market and business conditions warrant (the “Stock Repurchase Program”). During the third quarters of 2022 and 2021 we repurchased approximately 488,000 shares of our common stock for $ 27.9 million (weighted-average price of $ 57.27 per share) and approximately 143,000 shares of our common stock for $ 6.7 million (weighted-average price of $ 46.66 per share), respectively, and during the nine months ended September 30, 2022 and 2021 we repurchased approximately 1,114,000 shares of our common stock for $ 65.5 million (weighted-average price of $ 58.80 per share), and approximately 438,000 shares of our common stock for $ 20.1 million (weighted-average price of $ 46.04 per share), respectively, under a SEC Rule 10b5-1 Plan. As of September 30, 2022 , the total remaining number of shares available for repurchase under the Stock Repurchase Program totaled 2.5 million shares. Stock Repurchases for Tax Withholdings. In addition to the above-mentioned stock repurchases, during the third quarters of 2022 and 2021 , we repurchased and then cancelled approximately 7,000 shares of common stock for $ 0.4 million and approximately 2,000 shares of common stock for $ 0.1 million, respective ly, and during the nine months ended September 30, 2022 and 2021 we repurchased and then cancelled approximately 132,000 shares of common stock for $ 8.4 million and approximately 115,000 shares of common stock for $ 5.5 million, respectively, in connection with minimum tax withholding requirements resulting from the vesting of restricted common stock under our stock incentive plans. Cash Dividends. During the third quarter of 2022 , our Board approved a quarterly cash dividend of $ 0.265 per share of common stock, totaling $ 8.4 million. During the third quarter of 2021 , our Board approved a quarterly cash dividend of $ 0.25 per share of common stock, totaling $ 8.1 million. Dividends declared for the nine months ended September 30, 2022 and 2021 totaled $ 25.4 million and $ 24.5 million, respectively. Warrants . In 2014, in conjunction with the execution of an amendment to our agreement with Comcast Corporation (“Comcast”), we issued stock warrants (the “Warrant Agreement”) for the right to purchase up to 2.9 million shares of our common stock (the “Stock Warrants”) as an additional incentive for Comcast to convert customer accounts onto our Advanced Convergent Platform (“ACP”) based on various milestones. The Stock Warrants have a ten-year term and an exercise price of $ 26.68 per warrant. As of September 30, 2022 , 1.0 million Stock Warrants remain issued, none of which were vested. The remaining unvested Stock Warrants will be accounted for as a customer contract cost asset once the performance conditions necessary for vesting are considered probable. Stock-Based Awards. A summary of our unvested restricted common stock activity during the quarter and nine months ended September 30, 2022 is as follows (shares in thousands): Quarter Ended Nine Months Ended September 30, 2022 September 30, 2022 Shares Weighted- Shares Weighted- Unvested awards, beginning 1,265 $ 53.27 1,206 $ 45.22 Awards granted 17 57.02 553 63.41 Awards forfeited/cancelled ( 67 ) 56.07 ( 162 ) 51.90 Awards vested ( 24 ) 54.72 ( 406 ) 44.50 Unvested awards, ending 1,191 $ 53.22 1,191 $ 53.22 Included in the awards granted during the nine months ended September 30, 2022 are awards issued to members of executive management and certain key employees in the form of: (i) performance-based awards of approximately 121,000 restricted common stock shares, which vest in the first quarter of 2024 upon meeting certain pre-established financial performance objectives over a two-year performance period; and (ii) market-based awards of approximately 40,000 restricted common stock shares, which vest in the first quarter of 2025 upon meeting a relative total shareholder return performance achievement tier. Certain of these awards become fully vested upon a change in control, as defined, and the subsequent involuntary termination of employment. The other restricted common stock shares granted during the nine months ended September 30, 2022 are primarily time-based awards, which vest annually over three years with no restrictions other than the passage of time. Certain shares of the restricted common stock become fully vested upon a change in control, as defined, involuntary terminations of employment, or death. We recorded stock-based compensation expense for the third quarters of 2022 and 2021 of $ 8.7 million and $ 4.9 million, respectively, and for the nine months ended September 30, 2022 and 2021 of $ 20.8 million and $ 15.3 million, respectively.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements. The preparation of the accompanying Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our Financial Statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.
Reclassifications	Reclassifications. Certain amounts within our net cash provided by operating activities on our Statement of Cash Flows for the nine months ended September 30, 2021 have been reclassified to conform to the September 30, 2022 presentation.
Revenue	Revenue. The majority of our future revenue is related to our revenue management solution customer contracts that include variable consideration dependent upon a series of monthly volumes and/or daily usage of services and have contractual terms ending from 2022 through 2028 . Our customer contracts may include guaranteed minimums and fixed monthly or annual fees. As of September 30, 2022 , our aggregate amount of the transaction price allocated to the remaining performance obligations is $ 1.8 billion, which is made up of fixed fee consideration and guaranteed minimums expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied). We expect to recognize approximately 62 % of this amount by the end of 2024 , with the remaining amount recognized by the end of 2028 . We have excluded from this amount variable consideration expected to be recognized in the future related to performance obligations that are unsatisfied. The nature, amount, timing, and uncertainty of our revenue and how revenue and cash flows are affected by economic factors is most appropriately depicted by revenue type, geographic region, and customer vertical. Revenue by type for the quarters and nine months ended September 30, 2022 and 2021 were as follows (in thousands): Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 SaaS and related solutions $ 238,614 $ 231,418 $ 704,303 $ 686,685 Software and services 23,123 19,518 61,627 49,330 Maintenance 11,571 12,273 33,946 35,447 Total revenue $ 273,308 $ 263,209 $ 799,876 $ 771,462 We use the location of the customer as the basis of attributing revenue to geographic regions. Revenue by geographic region for the quarters and nine months ended September 30, 2022 and 2021, as a percentage of our total revenue, were as follows: Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Americas (principally the U.S.) 86 % 85 % 85 % 85 % Europe, Middle East, and Africa 10 % 12 % 11 % 11 % Asia Pacific 4 % 3 % 4 % 4 % Total revenue 100 % 100 % 100 % 100 % We generate our revenue primarily from the global communications markets; however, we serve an expanding group of customers in other industry markets including retail, healthcare, financial services, insurance, and government entities. Revenue by customer vertical for the quarters and nine months ended September 30, 2022 and 2021, as a percentage of our total revenue, were as follows: Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Broadband/Cable/Satellite 55 % 56 % 55 % 57 % Telecommunications 20 % 20 % 19 % 19 % Other 25 % 24 % 26 % 24 % Total revenue 100 % 100 % 100 % 100 % Deferred revenue recognized during the quarters ended September 30, 2022 and 2021 was $ 7.6 million and $ 9.9 million, respectively and during the nine months ended September 30, 2022 and 2021 was $ 47.9 million and $ 41.9 million, respectively.
Cash and Cash Equivalents	Cash and Cash Equivalents. We consider all highly liquid investments with original maturities of three months or less at the date of the purchase to be cash equivalents. As of September 30, 2022 and December 31, 2021, our cash equivalents consist primarily of institutional money market funds, commercial paper, and time deposits held at major banks. For the cash and cash equivalents denominated in foreign currencies and/or located outside the U.S., we do not anticipate any material amounts being unavailable for use in running our business, but may face limitations on moving cash out of certain foreign jurisdictions due to currency controls and potential negative economic consequences. Restricted Cash. Restricted cash includes cash that is legally or contractually restricted, as well as our settlement and merchant reserve assets. As of September 30, 2022 and December 31, 2021 , we had $ 1.5 million and $ 1.4 million, respectively, of restricted cash that serves to collateralize outstanding letters of credit included in cash and cash equivalents in our unaudited Condensed Consolidated Balance Sheets (“Balance Sheets” or “Balance Sheet”). Settlement and Merchant Reserve Assets and Liabilities. Settlement assets and liabilities represent cash collected on behalf of customers via payment processing services which is held for an established holding period until settlement with the customer. The holding period is generally one to four business days depending on the payment model, risk profile, and contractual terms with the customer. During the holding period, cash is held in trust with various major financial institutions and a corresponding liability is recorded for the amounts owed to the merchant. At any given time, there may be differences between the cash held in trust and the corresponding liability due to the timing of operating-related cash transfers. Merchant reserves represent deposits collected from customers to mitigate our risk of loss due to nonperformance of settlement obligations initiated by our customers using our payment processing services, or non-payment by customers for services rendered by us. We perform a credit risk evaluation on each customer based on multiple criteria, which provide the basis for the deposit amount required for each customer. For the duration of our relationship with each customer, we hold their reserve deposits with major financial institutions. We hold these funds in separate accounts and are fully offset by corresponding liabilities. The following table summarizes our settlement and merchant reserve assets and liabilities as of the indicated periods (in thousands): September 30, 2022 December 31, 2021 Assets Liabilities Assets Liabilities Settlement assets/liabilities $ 156,666 $ 155,311 $ 171,505 $ 170,514 Merchant reserve assets/liabilities 15,943 15,881 14,762 14,762 Total $ 172,609 $ 171,192 $ 186,267 $ 185,276
Short-term Investments and Other Financial Instruments	Financial Instruments . Our financial instruments as of September 30, 2022 and December 31, 2021 include cash and cash equivalents, short-term investments, settlement and merchant reserve assets and liabilities, accounts receivable, accounts payable, and debt. Due to their short maturities, the carrying amounts of cash equivalents, settlement and merchant reserve assets and liabilities, accounts receivable, and accounts payable approximate their fair value. Our short-term investments and certain of our cash equivalents are considered “available-for-sale” and are reported at fair value in our Balance Sheets, with unrealized gains and losses, net of the related income tax effect, excluded from earnings and reported in a separate component of stockholders’ equity. Realized and unrealized gains and losses were not material in any period presented. Primarily all short-term investments held by us as of September 30, 2022 and December 31, 2021 have contractual maturities of less than two years from the time of acquisition. Our short-term investments as of September 30, 2022 and December 31, 2021 consisted almost entirely of fixed income securities. Proceeds from the sale/maturity of short-term investments for the nine months ended September 30, 2022 and 2021 were $ 27.4 million and $ 80.1 million, respectively, and purchases of short-term investments for the nine months ended September 30, 2022 and 2021 were zero and $ 57.7 million, respectively. Our short-term investments as of September 30, 2022 and December 31, 2021 were $ 0.6 million and $ 28.0 million, respectively. The following table represents the fair value hierarchy based upon three levels of inputs, of which Levels 1 and 2 are considered observable and Level 3 is unobservable, for our financial assets measured at fair value (in thousands): September 30, 2022 December 31, 2021 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 4,797 $ — $ 4,797 $ 29,305 $ — $ 29,305 Commercial paper — — — — 1,000 1,000 Short-term investments: Corporate debt securities — — — — 24,352 24,352 Asset-backed securities — 575 575 — 3,685 3,685 Total $ 4,797 $ 575 $ 5,372 $ 29,305 $ 29,037 $ 58,342 Valuation inputs used to measure the fair values of our money market funds were derived from quoted market prices. The fair values of all other financial instruments are based upon pricing provided by third-party pricing services. These prices were derived from observable market inputs. We have chosen not to record our debt at fair value, with changes recognized in earnings each reporting period. The following table indicates the carrying value (par value for convertible notes) and estimated fair value of our debt as of the indicated periods (in thousands): September 30, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value 2021 Credit Agreement: Term Loan (carrying value including $ 142,500 $ 142,500 $ 148,125 $ 148,125 Revolver 290,000 290,000 — — 2016 Convertible Notes (par value) — — 230,000 244,950 The fair value for our credit agreement was estimated using a discounted cash flow methodology, while the fair value for our convertible notes was estimated based upon quoted market prices or recent sales activity, both of which are considered Level 2 inputs.
Accounting Pronouncement Issued But Not Yet Effective	Accounting Pronouncement Adopted. In August 2020, the FASB issued ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. ASU 2020-06 also amends the related Earnings Per Share guidance. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, and can be adopted on either a fully retrospective or modified retrospective basis. On January 1, 2022, we adopted this ASU using the modified retrospective transition method and recorded an approximately $ 10 million cumulative-effect adjustment to our beginning retained earnings balance.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Schedule of Revenue Disaggregated by Revenue Type, Geographic Region and Customer	The nature, amount, timing, and uncertainty of our revenue and how revenue and cash flows are affected by economic factors is most appropriately depicted by revenue type, geographic region, and customer vertical. Revenue by type for the quarters and nine months ended September 30, 2022 and 2021 were as follows (in thousands): Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 SaaS and related solutions $ 238,614 $ 231,418 $ 704,303 $ 686,685 Software and services 23,123 19,518 61,627 49,330 Maintenance 11,571 12,273 33,946 35,447 Total revenue $ 273,308 $ 263,209 $ 799,876 $ 771,462 We use the location of the customer as the basis of attributing revenue to geographic regions. Revenue by geographic region for the quarters and nine months ended September 30, 2022 and 2021, as a percentage of our total revenue, were as follows: Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Americas (principally the U.S.) 86 % 85 % 85 % 85 % Europe, Middle East, and Africa 10 % 12 % 11 % 11 % Asia Pacific 4 % 3 % 4 % 4 % Total revenue 100 % 100 % 100 % 100 % We generate our revenue primarily from the global communications markets; however, we serve an expanding group of customers in other industry markets including retail, healthcare, financial services, insurance, and government entities. Revenue by customer vertical for the quarters and nine months ended September 30, 2022 and 2021, as a percentage of our total revenue, were as follows: Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Broadband/Cable/Satellite 55 % 56 % 55 % 57 % Telecommunications 20 % 20 % 19 % 19 % Other 25 % 24 % 26 % 24 % Total revenue 100 % 100 % 100 % 100 %
Schedule of Settlement and Merchant Reserve Assets and Liabilities	The following table summarizes our settlement and merchant reserve assets and liabilities as of the indicated periods (in thousands): September 30, 2022 December 31, 2021 Assets Liabilities Assets Liabilities Settlement assets/liabilities $ 156,666 $ 155,311 $ 171,505 $ 170,514 Merchant reserve assets/liabilities 15,943 15,881 14,762 14,762 Total $ 172,609 $ 171,192 $ 186,267 $ 185,276
Fair Value Measurements	The following table represents the fair value hierarchy based upon three levels of inputs, of which Levels 1 and 2 are considered observable and Level 3 is unobservable, for our financial assets measured at fair value (in thousands): September 30, 2022 December 31, 2021 Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents: Money market funds $ 4,797 $ — $ 4,797 $ 29,305 $ — $ 29,305 Commercial paper — — — — 1,000 1,000 Short-term investments: Corporate debt securities — — — — 24,352 24,352 Asset-backed securities — 575 575 — 3,685 3,685 Total $ 4,797 $ 575 $ 5,372 $ 29,305 $ 29,037 $ 58,342
Carrying Value (Par Value for Convertible Debt) and Estimated Fair Value of Debt	We have chosen not to record our debt at fair value, with changes recognized in earnings each reporting period. The following table indicates the carrying value (par value for convertible notes) and estimated fair value of our debt as of the indicated periods (in thousands): September 30, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value 2021 Credit Agreement: Term Loan (carrying value including $ 142,500 $ 142,500 $ 148,125 $ 148,125 Revolver 290,000 290,000 — — 2016 Convertible Notes (par value) — — 230,000 244,950

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Goodwill	Goodwill. The changes in the carrying amount of goodwill for the nine months ended September 30, 2022 were as follows (in thousands): January 1, 2022 balance $ 321,330 Adjustments related to prior acquisitions 1,911 Impairment charge related to MobileCard Holdings, LLC ( 7,211 ) Effects of changes in foreign currency exchange rates ( 20,834 ) September 30, 2022 balance $ 295,196
Summary of Carrying Value of Assets	As of September 30, 2022 and December 31, 2021, the carrying values of these assets were as follows (in thousands): September 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount Acquired customer contracts $ 161,022 $ ( 113,348 ) $ 47,674 $ 171,373 $ ( 114,166 ) $ 57,207 Software 183,942 ( 159,357 ) 24,585 182,040 ( 152,283 ) 29,757 Total other intangible assets $ 344,964 $ ( 272,705 ) $ 72,259 $ 353,413 $ ( 266,449 ) $ 86,964
Summary of Carrying Values of Customer Contract Cost Assets	Customer Contract Costs . As of September 30, 2022 and December 31, 2021, the carrying values of our customer contract cost assets, related to those contracts with a contractual term greater than one year, were as follows (in thousands): September 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount Customer contract costs $ 84,768 $ ( 32,574 ) $ 52,194 $ 79,028 $ ( 32,410 ) $ 46,618

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Our long-term debt, as of September 30, 2022 and December 31, 2021, was as follows (in thousands): September 30, December 31, 2022 2021 2021 Credit Agreement: 2021 Term Loan, due September 2026 , interest at adjusted LIBOR plus 5.299 % at September 30, 2022) $ 142,500 $ 148,125 Less – deferred financing costs ( 2,843 ) ( 3,406 ) 2021 Term Loan, net of unamortized discounts 139,657 144,719 $ 450 million revolving loan facility, due September 2026 , interest at adjusted 5.278 % at 290,000 - 2016 Convertible Notes: 2016 Convertible Notes – Senior convertible notes, due March 15, 2036 , 4.25 % - 230,000 Total debt, net of unamortized discounts 429,657 374,719 Current portion of long-term debt, net of unamortized discounts ( 52,500 ) ( 237,500 ) Long-term debt, net of unamortized discounts $ 377,157 $ 137,219

Restructuring and Reorganizat_2

Restructuring and Reorganization Charges (Tables)	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Schedule of Activity in Business Restructuring and Reorganization Reserves	The activity in the restructuring and reorganization reserves during the nine months ended September 30, 2022 was as follows (in thousands): Termination Benefits Other Total January 1, 2022, balance $ 675 $ - $ 675 Charged to expense during period 7,604 38,700 46,304 Cash payments ( 5,024 ) ( 4,578 ) ( 9,602 ) Adjustment for asset impairment - ( 29,986 ) ( 29,986 ) Adjustment for accelerated depreciation - ( 4,136 ) ( 4,136 ) Other 788 - 788 September 30, 2022, balance $ 4,043 $ - $ 4,043

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Reconciliation of the Basic and Diluted EPS Denominators	The reconciliation of the basic and diluted EPS denominators related to the common shares is included in the following table (in thousands): Quarter Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Basic weighted-average common shares 30,941 31,756 31,219 31,825 Dilutive effect of restricted common stock 218 204 268 208 Diluted weighted-average common shares 31,159 31,960 31,487 32,033

Stockholders' Equity and Equi_2

Stockholders' Equity and Equity Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Summary of Unvested Restricted Common Stock Activity	A summary of our unvested restricted common stock activity during the quarter and nine months ended September 30, 2022 is as follows (shares in thousands): Quarter Ended Nine Months Ended September 30, 2022 September 30, 2022 Shares Weighted- Shares Weighted- Unvested awards, beginning 1,265 $ 53.27 1,206 $ 45.22 Awards granted 17 57.02 553 63.41 Awards forfeited/cancelled ( 67 ) 56.07 ( 162 ) 51.90 Awards vested ( 24 ) 54.72 ( 406 ) 44.50 Unvested awards, ending 1,191 $ 53.22 1,191 $ 53.22

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Jan. 01, 2022
Summary Of Significant Accounting Policies [Line Items]
Aggregate amount of transaction price allocated to remaining performance obligations	$ 1,800,000		$ 1,800,000
Remaining performance obligations expected to be recognized, year	2028		2028
Deferred revenue recognized	$ 7,600	$ 9,900	$ 47,900	$ 41,900
Restricted cash	1,500		1,500		$ 1,400
Proceeds from sale/maturity of short-term investments			27,447	80,092
Short-term investments	575		575		28,037
Purchases of short-term investments			0	$ 57,734
Retained earnings	$ 924,359		$ 924,359		$ 916,060
Minimum
Summary Of Significant Accounting Policies [Line Items]
Future revenue including variable consideration, contractual terms ending, year			2022
Holding period of settlement and merchant reserve assets and liabilities			1 day
Maximum
Summary Of Significant Accounting Policies [Line Items]
Future revenue including variable consideration, contractual terms ending, year			2028
Holding period of settlement and merchant reserve assets and liabilities			4 days
Short-term investment contractual maturities			2 years		2 years
Accounting Standards Update 2020-06 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Summary Of Significant Accounting Policies [Line Items]
Retained earnings						$ 10,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details Textual 1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01	Sep. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations expected to be recognized, percentage	62%
Remaining performance obligations expected to be recognized, period	3 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Revenue Disaggregated by Revenue Type, Geographic Region and Customer (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation Of Revenue [Line Items]
Total revenue	$ 273,308	$ 263,209	$ 799,876	$ 771,462
Percentage of total revenue	100%	100%	100%	100%
Broadband/Cable/Satellite
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	55%	56%	55%	57%
Telecommunications
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	20%	20%	19%	19%
Other
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	25%	24%	26%	24%
Americas (principally the U.S.)
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	86%	85%	85%	85%
Europe, Middle East and Africa
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	10%	12%	11%	11%
Asia Pacific
Disaggregation Of Revenue [Line Items]
Percentage of total revenue	4%	3%	4%	4%
SaaS and Related Solutions
Disaggregation Of Revenue [Line Items]
Total revenue	$ 238,614	$ 231,418	$ 704,303	$ 686,685
Software and Services
Disaggregation Of Revenue [Line Items]
Total revenue	23,123	19,518	61,627	49,330
Maintenance
Disaggregation Of Revenue [Line Items]
Total revenue	$ 11,571	$ 12,273	$ 33,946	$ 35,447

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Settlement and Merchant Reserve Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Settlement And Merchant Reserve Assets And Liabilities [Abstract]
Settlement and merchant reserve assets	$ 156,666	$ 171,505
Merchant reserve assets	15,943	14,762
Total	172,609	186,267	$ 158,925
Settlement liabilities	155,311	170,514
Merchant reserve liabilities	15,881	14,762
Total	$ 171,192	$ 185,276

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets:
Assets fair value	$ 5,372	$ 58,342
Cash equivalents | Money Market Funds
Assets:
Assets fair value	4,797	29,305
Cash equivalents | Commercial Paper
Assets:
Assets fair value	0	1,000
Short-term Investments | Corporate Debt Securities
Assets:
Assets fair value	0	24,352
Short-term Investments | Asset-backed securities
Assets:
Assets fair value	575	3,685
Level 1
Assets:
Assets fair value	4,797	29,305
Level 1 | Cash equivalents | Money Market Funds
Assets:
Assets fair value	4,797	29,305
Level 2
Assets:
Assets fair value	575	29,037
Level 2 | Cash equivalents | Commercial Paper
Assets:
Assets fair value		1,000
Level 2 | Short-term Investments | Corporate Debt Securities
Assets:
Assets fair value	0	24,352
Level 2 | Short-term Investments | Asset-backed securities
Assets:
Assets fair value	$ 575	$ 3,685

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Carrying Value (Par Value for Convertible Debt) and Estimated Fair Value of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
2021 Credit Agreement | 2021 Term Loan
Carrying value and estimated fair value of debt
Fair Value	$ 142,500	$ 148,125
Carrying Value	142,500	148,125
2021 Credit Agreement | Revolver
Carrying value and estimated fair value of debt
Fair Value	290,000
Carrying Value	290,000
Senior Convertible Notes 2016
Carrying value and estimated fair value of debt
Fair Value	0	244,950
Carrying Value	$ 0	$ 230,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill RollForward
Beginning balance	$ 321,330
Adjustments related to prior acquisitions	1,911
Impairment charge related to MobileCard Holdings, LLC	(7,211)
Effects of changes in foreign currency exchange rates	(20,834)
Ending balance	$ 295,196

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Carrying Value of Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 344,964	$ 353,413
Accumulated Amortization	(272,705)	(266,449)
Net Amount	72,259	86,964
Acquired customer contracts
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	161,022	171,373
Accumulated Amortization	(113,348)	(114,166)
Net Amount	47,674	57,207
Software
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	183,942	182,040
Accumulated Amortization	(159,357)	(152,283)
Net Amount	$ 24,585	$ 29,757

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finite Lived Intangible Assets [Line Items]
Total amortization expense	$ 6.9	$ 6.5	$ 21.8	$ 18
Estimated total amortization expense 2022	28.4		28.4
Estimated total amortization expense 2023	20.7		20.7
Estimated total amortization expense 2024	13.2		13.2
Estimated total amortization expense 2025	10.7		10.7
Estimated total amortization expense 2026	7.5		$ 7.5
Customer contract costs
Finite Lived Intangible Assets [Line Items]
Total amortization expense	$ 3.8	$ 5.3		$ 15

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Summary of Carrying Values of Customer Contract Cost Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Capitalized Contract Cost [Abstract]
Customer contract costs, Gross Carrying Amount	$ 84,768	$ 79,028
Customer contract costs, Accumulated Amortization	(32,574)	(32,410)
Customer contract costs, Net Amount	$ 52,194	$ 46,618

Debt - Long-Term Debt (Details)

Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 15, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt, net of unamortized discounts	$ 429,657		$ 374,719
Current portion of long-term debt, net of unamortized discounts	(52,500)		(237,500)
Long-term debt, net of unamortized discounts	377,157		137,219
2021 Credit Agreement | Revolver
Debt Instrument [Line Items]
Total long-term debt, gross	290,000
Revolving loan facility	290,000		0
2021 Credit Agreement | 2021 Term Loan
Debt Instrument [Line Items]
Total long-term debt, gross	142,500		148,125
Less – deferred financing costs	(2,843)		(3,406)
Total debt, net of unamortized discounts	139,657	$ 150,000	144,719
Senior Convertible Notes 2016
Debt Instrument [Line Items]
Total long-term debt, gross	0		$ 230,000
Current portion of long-term debt, net of unamortized discounts	$ (229,100)

Debt - Long-Term Debt (Parenthe

Debt - Long-Term Debt (Parenthetical) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Mar. 31, 2022
2021 Credit Agreement | 2021 Term Loan
Debt Instrument [Line Items]
Basis spread on term loan	1.625%
Term loan combined interest rate	5.299%
Maturity period	Sep. 30, 2026
2021 Credit Agreement | Revolver
Debt Instrument [Line Items]
Term loan combined interest rate	5.278%
Amount available under credit facility	$ 450	$ 450
Maturity period	Sep. 30, 2026
Senior Convertible Notes 2016
Debt Instrument [Line Items]
Maturity period	Mar. 15, 2036
Interest rate on senior subordinated convertible notes	4.25%

Debt - Credit Agreement (Detail

Debt - Credit Agreement (Details Textual) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Mar. 15, 2022	Mar. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Carrying value of debt			$ 429,657		$ 374,719
Cash payments for Convertible Notes			$ 247,926	$ 126,563
2021 Credit Agreement | Minimum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage			0.15%
2021 Credit Agreement | Maximum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage			0.325%
2021 Credit Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on term loan			1.375%
2021 Credit Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on term loan			2.125%
2021 Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on term loan			0.375%
2021 Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on term loan			1.125%
2021 Credit Agreement | Revolver
Debt Instrument [Line Items]
Credit Agreement		$ 450,000	$ 450,000
Credit facility term		5 years
Line of credit facility, unused capacity, commitment fee percentage			0.20%
Line of credit facility, remaining borrowing capacity			$ 160,000
Term loan combined interest rate			5.278%
2021 Credit Agreement | Revolver | Minimum
Debt Instrument [Line Items]
Basis spread on term loan			4.895%
2021 Credit Agreement | Revolver | Maximum
Debt Instrument [Line Items]
Basis spread on term loan			5.299%
2021 Credit Agreement | Revolver Current
Debt Instrument [Line Items]
Line of credit facility, additional borrowings			$ 45,000
Credit Facility, current borrowing outstanding			45,000
2021 Credit Agreement | 2021 Term Loan
Debt Instrument [Line Items]
Carrying value of debt	$ 150,000		139,657		$ 144,719
Term loan period		5 years
Cash payments for Convertible Notes			$ 5,600
Basis spread on term loan			1.625%
Term loan combined interest rate			5.299%
2021 Credit Agreement | 2021 Term Loan | Revolver Noncurrent
Debt Instrument [Line Items]
Line of credit facility, additional borrowings			$ 245,000
Credit Facility, current borrowing outstanding			$ 245,000
Senior Convertible Notes 2016
Debt Instrument [Line Items]
Cash payments for Convertible Notes	242,300
Amounts not Converted and Settled at Par	900
Payments to settle convertible debt converted by holders	$ 241,400
Loss on derivative liability upon debt conversion		$ 7,500

Debt - 2016 Convertible Notes (

Debt - 2016 Convertible Notes (Details Textual)		3 Months Ended	9 Months Ended
	Mar. 15, 2022 USD ($) $ / shares	Mar. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Net carrying value			$ 52,500,000		$ 237,500,000
Cash payments for Convertible Notes			247,926,000	$ 126,563,000
Senior Convertible Notes 2016
Debt Instrument [Line Items]
Net carrying value			$ 229,100,000
Initial conversion rate of common stock			17.7621
Convertible Notes, initial conversion of Par Value Convertible Notes to common stock	$ 1,000		$ 1,000
Consecutive trading days during related observation period			40 days
Initial conversion price | $ / shares	$ 1,053.68
Cash payments for Convertible Notes	$ 242,300,000
Debt instrument redemption price percentage of principal amount		100%
Carrying Value			$ 0		$ 230,000,000
Loss On Derivative Liability Upon Debt Conversion		$ 7,500,000

Acquisitions (Details Textual)

Acquisitions (Details Textual) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2020	Jun. 30, 2022	Dec. 31, 2021	Jul. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 295,196			$ 321,330
MobileCard Holdings, LLC
Business Acquisition [Line Items]
Percentage of acquired of equity					64%
Non-controlling interest	3,600
Goodwill			$ 7,200
MobileCard Holdings, LLC | Acquired customer contracts
Business Acquisition [Line Items]
Estimated fair values of assets acquired	2,600
MobileCard Holdings, LLC | Software
Business Acquisition [Line Items]
Estimated fair values of assets acquired	900
Keydok LLC
Business Acquisition [Line Items]
Potential future earn out payments	18,000
Accrued earn out payments	$ 0
Business acquisition date	Sep. 14, 2021
Percentage of acquired of equity	100%
Business acquisition, purchase price	$ 1,000
Goodwill			$ 1,000
DGIT Systems Pty Ltd
Business Acquisition [Line Items]
Potential future earn out payments	13,000
Accrued earn out payments	$ 300
Business acquisition date	Oct. 04, 2021
Percentage of acquired of equity	100%
Business acquisition, purchase price	$ 16,000
Business acquisition, payment	14,000
Business acquisition, remaining consideration	$ 2,000
Business acquisition, remaining annual periods over which additional consideration to be paid over	4 years
Goodwill	$ 11,800
Deferred revenue	1,900
Accrued income taxes	1,200
Accrued employee compensation	1,100
DGIT Systems Pty Ltd | Acquired customer contracts
Business Acquisition [Line Items]
Estimated fair values of assets acquired	5,100
DGIT Systems Pty Ltd | Software
Business Acquisition [Line Items]
Estimated fair values of assets acquired	3,600
Tekzenit, Inc.
Business Acquisition [Line Items]
Potential future earn out payments		$ 10,000
Earn out and qualified sales payments measurement period		3 years
Accrued earn out payments	0
Business acquisition, payment		$ 10,000
Tekzenit, Inc. | Contingent Purchase Price Payments
Business Acquisition [Line Items]
Potential future earn out payments		6,000
Contingent purchase price liabilities	$ 600
Tekzenit, Inc. | Financial And Sales Criteria
Business Acquisition [Line Items]
Potential future earn out payments		$ 4,000

Restructuring and Reorganizat_3

Restructuring and Reorganization Charges (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2022 USD ($) Employees	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) Employees	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and reorganization charges		$ 14,193	$ 209	$ 46,304	$ 3,029
Accelerated depreciation				4,136
Impairment charges				30,126	$ 415
Restructuring and reorganization reserves		4,043		4,043		$ 675
Ending Balance		4,043		4,043
Current Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring and reorganization reserves		3,900		3,900
Ending Balance		$ 3,900		3,900
Termination Benefits Related to Organizational Changes
Restructuring Cost and Reserve [Line Items]
Restructuring and reorganization charges	$ 600			$ 7,000
Reduced workforce | Employees | Employees				80
Shut-down of MobileCard Business
Restructuring Cost and Reserve [Line Items]
Reduced workforce | Employees | Employees	40
Impairment charges	$ 7,000
Real Estate Restructurings
Restructuring Cost and Reserve [Line Items]
Restructuring and reorganization charges				$ 23,000
Accelerated depreciation				$ 4,100

Restructuring and Reorganizat_4

Restructuring and Reorganization Charges - Schedule of Activity in Business Restructuring and Reorganization Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Beginning Balance			$ 675
Charged to expense during period	$ 14,193	$ 209	46,304	$ 3,029
Cash payments			(9,602)
Adjustment for asset impairment			(29,986)
Adjustment for accelerated depreciation			(4,136)
Other			788
Ending Balance	4,043		4,043
Termination Benefits
Restructuring Cost and Reserve [Line Items]
Beginning Balance			675
Charged to expense during period			7,604
Cash payments			(5,024)
Other			788
Ending Balance	4,043		4,043
Other
Restructuring Cost and Reserve [Line Items]
Charged to expense during period			38,700
Cash payments			(4,578)
Adjustment for asset impairment			(29,986)
Adjustment for accelerated depreciation			(4,136)
Ending Balance	$ 0		$ 0

Commitments, Guarantees and C_2

Commitments, Guarantees and Contingencies (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Restricted assets used to collateralize guarantees	$ 2.3
Restricted assets used to cash and cash equivalents	1.5	$ 1.4
Money transmitter bonds	$ 17
Warranty Period	90 days
Surety Bond
Other Commitments [Line Items]
Restricted assets used to collateralize guarantees	$ 3.5
Other Non-current Assets
Other Commitments [Line Items]
Restricted assets used to collateralize guarantees	$ 0.8

Earnings Per Common Share - Rec

Earnings Per Common Share - Reconciliation of the Basic and Diluted EPS Denominators (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Reconciliation of the basic and diluted EPS denominators
Basic weighted-average common shares	30,941	31,756	31,219	31,825
Dilutive effect of restricted common stock	218	204	268	208
Diluted weighted-average common shares	31,159	31,960	31,487	32,033

Earnings Per Common Share (Deta

Earnings Per Common Share (Details Textual) - $ / shares	Sep. 30, 2022	Dec. 31, 2014
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Common stock warrants issued, per warrant		$ 26.68
Common Stock Warrants
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Common stock warrants issued, per warrant	$ 26.68

Stockholders' Equity and Equi_3

Stockholders' Equity and Equity Compensation Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2014
Stockholders Equity And Equity Compensation Plans [Line Items]
Remaining number of shares available for repurchase	2,500,000		2,500,000
Repurchase of common stock for employee tax withholdings, shares	7,000	2,000	132,000	115,000
Repurchase of common stock for tax withholdings, value	$ 400	$ 100	$ 8,400	$ 5,500
Cash dividends declared per common share	$ 0.265	$ 0.25
Cash dividend	$ 8,400	$ 8,100	$ 25,400	24,500
Stock warrants term					10 years
Stock warrants, exercise price					$ 26.68
Performance based awards granted to executive management and certain key employees shares			121,000
Vesting maturity date			first quarter of 2024
Vesting period			2 years
Stock-based compensation expense	$ 8,700	$ 4,900	$ 20,778	$ 15,304
Market-based Awards
Stockholders Equity And Equity Compensation Plans [Line Items]
Awards vested			40,000
Restricted common stock
Stockholders Equity And Equity Compensation Plans [Line Items]
Vesting period			3 years
Awards vested	24,000		406,000
Comcast
Stockholders Equity And Equity Compensation Plans [Line Items]
Issuance of stock warrants					2,900,000
Stock warrants issued	1,000,000		1,000,000
Stock warrants vested			0
SEC Rule 10b5-1 Plan
Stockholders Equity And Equity Compensation Plans [Line Items]
Repurchase of common stock, shares	488,000	143,000	1,114,000	438,000
Total amount paid	$ 27,900	$ 6,700	$ 65,500	$ 20,100
Weighted-average price per share	$ 57.27	$ 46.66	$ 58.80	$ 46.04

Stockholders' Equity and Equi_4

Stockholders' Equity and Equity Compensation Plans - Summary of Unvested Restricted Common Stock Activity (Details) - Restricted common stock - $ / shares shares in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Shares
Shares, Unvested awards, beginning balance	1,265	1,206
Shares, Awards granted	17	553
Shares, Awards forfeited/cancelled	(67)	(162)
Shares, Awards vested	(24)	(406)
Shares, Unvested awards, ending balance	1,191	1,191
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Unvested awards, beginning balance	$ 53.27	$ 45.22
Weighted-Average Grant Date Fair Value, Awards granted	57.02	63.41
Weighted-Average Grant Date Fair Value, Awards forfeited/cancelled	56.07	51.90
Weighted-Average Grant Date Fair Value, Awards vested	54.72	44.50
Weighted-Average Grant Date Fair Value, Unvested awards, ending balance	$ 53.22	$ 53.22