Ziff Davis (ZD) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	0-25965
Entity Registrant Name	ZIFF DAVIS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-1053457
Entity Address, Address Line One	114 5th Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10011
City Area Code	212
Local Phone Number	503-3500
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	ZD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,984,753
Entity Central Index Key	0001084048
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 660,624	$ 652,793
Short-term investments	29,797	58,421
Accounts receivable, net of allowances of $7,388 and $6,868, respectively	291,485	304,739
Prepaid expenses and other current assets	81,757	68,319
Total current assets	1,063,663	1,084,272
Long-term investments	140,167	127,871
Property and equipment, net of accumulated depreciation of $308,368 and $255,586, respectively	186,165	178,184
Intangible assets, net	367,943	462,815
Goodwill	1,539,663	1,591,474
Deferred income taxes	8,573	8,523
Other assets	77,053	80,131
TOTAL ASSETS	3,383,227	3,533,270
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	127,818	120,829
Accrued employee related costs	37,011	42,178
Other accrued liabilities	47,219	39,539
Income taxes payable, current	4,985	19,712
Deferred revenue, current	182,741	187,904
Other current liabilities	19,724	22,286
Total current liabilities	419,498	432,448
Long-term debt	1,000,743	999,053
Deferred revenue, noncurrent	8,000	9,103
Income taxes payable, noncurrent	8,486	11,675
Deferred income taxes	51,098	79,007
Other long-term liabilities	91,264	109,373
TOTAL LIABILITIES	1,579,089	1,640,659
Commitments and contingencies (Note 8)
Preferred stock, $0.01 par value	0	0
Common stock, $0.01 par value. Authorized 95,000,000; total issued and outstanding 45,984,858 and 47,269,446 shares at September 30, 2023 and December 31, 2022, respectively	460	473
Additional paid-in capital	462,812	439,681
Treasury stock, at cost (zero and zero shares, at September 30, 2023 and December 31, 2022, respectively)	0	0
Retained earnings	1,426,979	1,537,830
Accumulated other comprehensive loss	(86,113)	(85,373)
TOTAL STOCKHOLDERS’ EQUITY	1,804,138	1,892,611
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	3,383,227	3,533,270
Series A Preferred Stock
LIABILITIES AND STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value	0	0
Series B Preferred Stock
LIABILITIES AND STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 7,388	$ 6,868
Accumulated depreciation	$ 308,368	$ 255,586
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	95,000,000	95,000,000
Common stock, shares issued (in shares)	45,984,858	47,269,446
Common stock, shares outstanding (in shares)	45,984,858	47,269,446
Treasury stock (in shares)	0	0
Series A Preferred Stock
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	6,000	6,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series B Preferred Stock
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Total revenues	$ 340,985	$ 341,873	$ 974,143	$ 994,297
Operating costs and expenses:
Cost of revenues	55,526	52,603	148,677	144,707
Sales and marketing	125,062	119,474	360,916	361,013
Research, development, and engineering	17,597	17,735	53,328	55,883
General and administrative	99,269	95,658	302,481	299,842
Goodwill impairment on business	56,850	27,369	56,850	27,369
Total operating costs and expenses	354,304	312,839	922,252	888,814
(Loss) income from operations	(13,319)	29,034	51,891	105,483
Interest expense, net	(2,817)	(8,560)	(17,780)	(28,419)
Gain on debt extinguishment, net	0	10,112	0	11,505
Unrealized (loss) gain on short-term investments held at the reporting date, net	(6,019)	4,201	(29,560)	(14,165)
Gain (loss) on investments, net	0	471	357	(47,772)
Other (loss) income, net	(3,571)	4,218	(5,982)	12,962
(Loss) income before income taxes and income (loss) from equity method investment, net	(25,726)	39,476	(1,074)	39,594
Income tax expense	(5,335)	(18,100)	(11,180)	(33,231)
Income (loss) from equity method investment, net	90	(3,191)	(9,665)	(10,077)
Net (loss) income	$ (30,971)	$ 18,185	$ (21,919)	$ (3,714)
Net (loss) income per common share:
Basic (in dollars per share)	$ (0.67)	$ 0.39	$ (0.47)	$ (0.08)
Diluted (in dollars per share)	$ (0.67)	$ 0.39	$ (0.47)	$ (0.08)
Weighted average shares outstanding:
Basic (in shares)	46,062,097	46,871,897	46,612,660	46,967,671
Diluted (in shares)	46,062,097	46,871,897	46,612,660	46,967,671

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (30,971)	$ 18,185	$ (21,919)	$ (3,714)
Other comprehensive loss, net of tax:
Foreign currency translation adjustment	(6,841)	(24,753)	(660)	(55,283)
Consensus separation adjustment	0	0	0	4,056
Change in fair value on available-for-sale investments, net of tax expense of $93 and benefit of $37 for the three and nine months ended September 30, 2023, respectively	309	(169)	(80)	(169)
Other comprehensive loss, net of tax	(6,532)	(24,922)	(740)	(51,396)
Comprehensive loss	$ (37,503)	$ (6,737)	$ (22,659)	$ (55,110)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Tax expense (benefit) for unrealized holding gain (loss) on available-for-sale investments	$ 93	$ (37)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (30,971)	$ 18,185	$ (21,919)	$ (3,714)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization			167,333	174,880
Non-cash operating lease costs			7,248	9,043
Share-based compensation			24,393	20,806
Provision for credit losses on accounts receivable			2,296	(1,142)
Deferred income taxes, net			(25,658)	(13,552)
Gain on extinguishment of debt	0	(10,112)	0	(11,505)
Goodwill impairment on business	56,850	27,369	56,850	27,369
Changes in fair value of contingent consideration			0	(2,305)
Loss from equity method investments			9,665	10,077
Unrealized loss on short-term investments held at the reporting date, net			29,560	14,165
(Gain) loss on investments, net			(357)	47,772
Other			5,113	2,320
Decrease (increase) in:
Accounts receivable (includes $0 and $9,425 with related parties)			11,043	85,121
Prepaid expenses and other current assets			(10,059)	3,177
Other assets			(7,961)	(8,667)
Increase (decrease) in:
Accounts payable			1,955	(11,445)
Deferred revenue			(6,820)	(25,400)
Accrued liabilities and other current liabilities			(14,839)	(23,781)
Net cash provided by operating activities			227,843	293,219
Cash flows from investing activities:
Purchases of property and equipment			(82,476)	(80,767)
Acquisition of businesses, net of cash received			(9,492)	(104,094)
Investment in available-for-sale securities			0	(15,000)
Purchases of equity investments			(11,790)	0
Proceeds from sale of equity investments			3,174	0
Other			(4,154)	0
Net cash used in investing activities			(104,738)	(199,861)
Cash flows from financing activities:
Payment of debt			0	(166,904)
Proceeds from term loan			0	112,286
Debt extinguishment costs			0	(756)
Repurchase of common stock			(107,341)	(76,545)
Issuance of common stock under employee stock purchase plan			4,725	5,235
Proceeds from exercise of stock options			0	148
Deferred payments for acquisitions			(14,141)	(14,734)
Other			(53)	(559)
Net cash used in financing activities			(116,810)	(141,829)
Effect of exchange rate changes on cash and cash equivalents			1,536	(24,454)
Net change in cash and cash equivalents			7,831	(72,925)
Cash and cash equivalents at beginning of period			652,793	694,842	$ 694,842
Cash and cash equivalents at end of period	$ 660,624	$ 621,917	$ 660,624	$ 621,917	$ 652,793

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Accounts receivable	$ (11,043)	$ (85,121)
Related Party
Accounts receivable	$ 0	$ 9,425

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Treasury stock	Retained earnings	Accumulated other comprehensive loss	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjustment Additional paid-in capital	Cumulative Effect, Period of Adoption, Adjustment Retained earnings
Beginning balance (in shares) at Dec. 31, 2021		47,440,137
Beginning balance at Dec. 31, 2021	$ 1,967,732	$ 474	$ 509,122	$ 0	$ 1,515,358	$ (57,222)	$ (64,701)	$ (88,137)	$ 23,436
Beginning balance (in shares) at Dec. 31, 2021				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(3,714)				(3,714)
Other comprehensive loss, net of tax expense	(55,452)					(55,452)
Issuance of restricted stock, net (in shares)		456,963
Issuance of restricted stock, net	0	$ 4	(4)
Issuance of shares under employee stock purchase plan (in shares)		76,741
Issuance of shares under employee stock purchase plan	5,235	$ 1	5,234
Repurchase of common stock (in shares)				736,536
Repurchase of common stock	(71,337)			$ (71,337)
Retirement of common stock (in shares)		(789,373)		(736,536)
Retirement of common stock	(5,208)	$ (7)	(14,881)	$ 71,337	(61,657)
Share-based compensation	20,806		20,806
Exercise of stock options (in shares)		5,439
Exercise of stock options	148		148
Other, net	136		(16)		(3,904)	4,056
Ending balance (in shares) at Sep. 30, 2022		47,189,907
Ending balance at Sep. 30, 2022	1,793,645	$ 472	432,272	$ 0	1,469,519	(108,618)
Ending balance (in shares) at Sep. 30, 2022				0
Beginning balance (in shares) at Jun. 30, 2022		47,191,337
Beginning balance at Jun. 30, 2022	1,794,196	$ 472	426,104	$ 0	1,451,316	(83,696)
Beginning balance (in shares) at Jun. 30, 2022				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	18,185				18,185
Other comprehensive loss, net of tax expense	(24,922)					(24,922)
Issuance of restricted stock, net (in shares)		1,171
Retirement of common stock (in shares)		(2,601)
Retirement of common stock	(200)		(218)		18
Share-based compensation	6,386		6,386
Ending balance (in shares) at Sep. 30, 2022		47,189,907
Ending balance at Sep. 30, 2022	$ 1,793,645	$ 472	432,272	$ 0	1,469,519	(108,618)
Ending balance (in shares) at Sep. 30, 2022				0
Beginning balance (in shares) at Dec. 31, 2022	47,269,446	47,269,446
Beginning balance at Dec. 31, 2022	$ 1,892,611	$ 473	439,681	$ 0	1,537,830	(85,373)
Beginning balance (in shares) at Dec. 31, 2022	0			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ (21,919)				(21,919)
Other comprehensive loss, net of tax expense	(740)					(740)
Issuance of restricted stock, net (in shares)		28,058
Issuance of restricted stock, net	(3,462)		(4,031)		569
Issuance of shares under employee stock purchase plan (in shares)		87,098
Issuance of shares under employee stock purchase plan	4,725	$ 1	4,724
Issuance of common stock, net (in shares)		186,102
Issuance of common stock, net	13,422	$ 2	13,420
Repurchase of common stock (in shares)				1,585,846
Repurchase of common stock	(104,919)			$ (104,919)
Retirement of common stock (in shares)		(1,585,846)		(1,585,846)
Retirement of common stock	0	$ (16)	(15,388)	$ 104,919	(89,515)
Share-based compensation	24,393		24,393
Other, net	$ 27		13		14
Ending balance (in shares) at Sep. 30, 2023	45,984,858	45,984,858
Ending balance at Sep. 30, 2023	$ 1,804,138	$ 460	462,812	$ 0	1,426,979	(86,113)
Ending balance (in shares) at Sep. 30, 2023	0			0
Beginning balance (in shares) at Jun. 30, 2023		46,402,143
Beginning balance at Jun. 30, 2023	$ 1,862,682	$ 464	448,920	$ 0	1,492,879	(79,581)
Beginning balance (in shares) at Jun. 30, 2023				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(30,971)				(30,971)
Other comprehensive loss, net of tax expense	(6,532)					(6,532)
Issuance of restricted stock, net (in shares)		2,041
Issuance of restricted stock, net	(230)		(265)		35
Issuance of common stock, net (in shares)		186,102
Issuance of common stock, net	13,422	$ 2	13,420
Repurchase of common stock (in shares)				605,428
Repurchase of common stock	(41,019)			$ (41,019)
Retirement of common stock (in shares)		(605,428)		(605,428)
Retirement of common stock	0	$ (6)	(6,035)	$ 41,019	(34,978)
Share-based compensation	6,774		6,774
Other, net	$ 12		(2)		14
Ending balance (in shares) at Sep. 30, 2023	45,984,858	45,984,858
Ending balance at Sep. 30, 2023	$ 1,804,138	$ 460	$ 462,812	$ 0	$ 1,426,979	$ (86,113)
Ending balance (in shares) at Sep. 30, 2023	0			0

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Tax expense (benefit) for unrealized holding gain (loss) on available-for-sale investments	$ (93)	$ 0	$ 37	$ 0

Basis of Presentation and Overv

Basis of Presentation and Overview	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Overview	Basis of Presentation and Overview The accompanying Condensed Consolidated Financial Statements of Ziff Davis, Inc. and its subsidiaries (“Ziff Davis”, the “Company”, “our”, “us”, or “we”), whether directly or indirectly wholly-owned, were prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), and all adjustments considered necessary for a fair presentation have been included. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim Condensed Consolidated Financial Statements have been prepared in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X issued by the Securities and Exchange Commission (“SEC”). The preparation of these Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the Condensed Consolidated Financial Statements, as well as the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. All normal recurring adjustments necessary for a fair presentation of these interim Condensed Consolidated Financial Statements were made. This Quarterly Report on Form 10-Q should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission ("SEC") on March 1, 2023 and other filings with the SEC. The results of operations for this interim period are not necessarily indicative of the operating results for the full year or for any future period. Description of Business Ziff Davis, Inc. is a vertically focused digital media and internet company whose portfolio includes leading brands in technology, shopping, gaming and entertainment, connectivity, health, cybersecurity, and martech. The Company’s Digital Media business specializes in the technology, shopping, gaming and entertainment, connectivity, and healthcare markets, offering content, tools and services to consumers and businesses. The Company’s Cybersecurity and Martech business provides cloud-based subscription services to consumers and businesses including cybersecurity, privacy, and marketing technology. Impairment or Disposal of Long-Lived Assets The Company assesses whether events or changes in circumstances have occurred that potentially indicate the carrying amount of definite-lived assets may not be recoverable. During the three months ended September 30, 2023 and 2022, and the nine months ended September 30, 2023 and 2022, the Company recorded an impairment of approximately $0.7 million, $0.2 million, $2.7 million, and $0.4 million, respectively, related to certain operating lease right-of-use assets and other definite-lived intangibles. The Company regularly evaluates its office space requirements in light of more of its workforce working from home as part of a permanent “remote” or “partial remote” work model. The impairment is presented in general and administrative expense on the Condensed Consolidated Statement of Operations. Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This update provides for optional financial reporting alternatives to reduce cost and complexities associated with accounting for contracts, hedging relationships, and other transactions affected by reference rate reform. This update applies only to contracts, hedging relationships, and other transactions that reference London Interbank Offer Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The accommodations were available for all entities through December 31, 2022, with early adoption permitted. This update was later amended by ASU 2022-06. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 . This update defers the expiration date of Accounting Standards Codification (“ASC”) Topic 848 from December 31, 2022 to December 31, 2024. We are currently evaluating the effect the adoption of this update will have on our condensed consolidated financial statements and related disclosures. Reclassifications Certain prior year reported amounts have been reclassified to conform with the 2023 presentation.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Digital Media Digital Media revenues are earned primarily from the delivery of advertising services and subscriptions to services and information. Revenue from the delivery of advertising services is earned on websites that are owned and operated by us and on those websites that are part of Digital Media’s advertising network. Depending on the individual contracts with the customer, revenue for these services is recognized over the contract period when any of the following performance obligations are satisfied: (i) when an advertisement is placed for viewing, (ii) when a qualified sales lead is delivered, (iii) when a visitor “clicks through” on an advertisement or (iv) when commissions are earned upon the sale of an advertised product. Revenue from subscriptions is earned through the granting of access to, or delivery of, data products or services to customers. Subscriptions cover video games and related content, health information, data, and other copyrighted material. Revenues under such agreements are recognized over the contract term for use of the service. Revenues are also earned from listing fees, subscriptions to online publications, and from other sources. Subscription revenues are primarily recognized over time. Revenues related to the provision of access to historical data for certain services are recorded at the time of delivery. We also generate Digital Media subscription revenues through the license of certain assets to clients. Assets are licensed for clients’ use in their own promotional materials or otherwise and may include logos, editorial reviews, or other copyrighted material. Revenues under such license agreements are recognized over the contract term for use of the asset. In instances when technology assets are licensed to our clients, revenues from the license of these assets are recognized over the term of the access period. The Digital Media business also generates revenue from other sources which include marketing and production services. Such other revenues are generally recognized over the period in which the products or services are delivered. We also generate Digital Media revenues from transactions involving the sale of perpetual software licenses, related software support, and maintenance, hardware used in conjunction with software, and other related services. Revenue is recognized for software transactions with multiple performance obligations after (i) the contract has been approved and we are committed to perform the respective obligations and (ii) we can identify and quantify each obligation and its respective selling price. Once the respective performance obligations have been identified and quantified, revenue will be recognized when the obligations are met, either over time or at a point in time depending on the nature of the obligation. Revenues from software license performance obligations are generally recognized upfront at the point in time that the software is made available to the customer to download and use. Revenues for related software support and maintenance performance obligations are related to technical support provided to customers as needed and unspecified software product upgrades, maintenance releases, and patches during the term of the support period when they are available. We are obligated to make the support services available continuously throughout the contract period. Therefore, revenues for support contracts are generally recognized ratably over the contractual period the support services are provided. Hardware product and related software performance obligations, such as an operating system or firmware, are highly interdependent and interrelated and are accounted for as a bundled performance obligation. The revenues for this bundled performance obligation are generally recognized at the point in time that the hardware and software products are delivered and ownership is transferred to the customer. Other service revenues are generally recognized over time as the services are performed. The Company records revenue on a gross basis with respect to revenue generated (i) by the Company serving online display and video advertising across its owned and operated web properties, on third-party sites, or on unaffiliated advertising networks; (ii) through the Company’s lead-generation business; and (iii) through the Company’s subscriptions. The Company records revenue on a net basis with respect to revenue paid to the Company by certain third-party advertising networks who serve online display and video advertising across the Company’s owned-and-operated web properties and certain third-party sites. Cybersecurity and Martech The Company’s Cybersecurity and Martech revenues substantially consist of subscription revenues which include subscription and usage-based fees, a significant portion of which are paid in advance. The Company defers the portions of monthly, quarterly, semi-annual, and annual fees collected in advance of the satisfaction of performance obligations and recognizes them in the period earned. Along with its numerous proprietary Cybersecurity and Martech solutions, the Company also generates subscription revenues by reselling various third-party solutions, primarily through its email security line of business. These third-party solutions, along with the Company’s proprietary products, allow it to offer customers a variety of solutions to better meet the customer’s needs. The Company records revenue on a gross basis with respect to reseller revenue because the Company has control of the specified good or service prior to transferring control to the customer. Revenues from external customers classified by revenue source are as follows (in thousands). Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Digital Media Advertising $ 183,008 $ 186,921 $ 514,173 $ 546,186 Subscription 71,858 64,780 209,167 179,257 Other 13,085 12,195 31,692 31,980 Total Digital Media revenues $ 267,951 $ 263,896 $ 755,032 $ 757,423 Cybersecurity and Martech Subscription $ 73,051 $ 78,192 $ 219,263 $ 237,596 Total Cybersecurity and Martech revenues $ 73,051 $ 78,192 $ 219,263 $ 237,596 Elimination of inter-segment revenues (17) (215) (152) (722) Total Revenues $ 340,985 $ 341,873 $ 974,143 $ 994,297 Timing of revenue recognition Point in time $ 14,336 $ 14,417 $ 37,518 $ 32,602 Over time 326,649 327,456 936,625 961,695 Total $ 340,985 $ 341,873 $ 974,143 $ 994,297 The Company recorded $27.8 million and $32.2 million of revenue for the three months ended September 30, 2023 and 2022, respectively, and $140.9 million and $154.9 million of revenue for the nine months ended September 30, 2023 and 2022, respectively, which was previously included in the deferred revenue balance as of the beginning of each respective year. Transaction Price Allocation to Future Performance Obligations As of September 30, 2023, the aggregate amount of transaction price that is allocated to future performance obligations was approximately $32.5 million and is expected to be recognized as follows: 13% by December 31, 2023, 84% between January 1, 2024 and December 31, 2025, and 3% thereafter. The amount disclosed does not include revenues related to performance obligations that are part of contracts with original expected durations of twelve months or less or portions of the contracts that remain subject to cancellations.

Business Acquisitions

Business Acquisitions	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Acquisitions	Business Acquisitions The Company uses acquisitions as a strategy to grow its customer base by increasing its presence in new and existing markets, expand and diversify its service offerings, enhance its technology, and acquire skilled personnel. 2023 Acquisitions The Company completed two immaterial Digital Media acquisitions during the nine months ended September 30, 2023, paying the purchase price in cash in each transaction. The Condensed Consolidated Statement of Operations since the date of each acquisition and the Condensed Consolidated Balance Sheets as of September 30, 2023, reflect the results of operations of the 2023 acquisitions. The initial accounting for the 2023 acquisitions is incomplete due to timing of available information and is subject to change. The Company has recorded provisional amounts which may be based upon past acquisitions with similar attributes for certain intangible assets (including trade names and customer relationships), preliminary acquisition date working capital, and related tax items. Goodwill recognized associated with these acquisitions during the nine months ended September 30, 2023 was $6.3 million, all of which is expected to be deductible for income tax purposes. Approximately $7.2 million of definite-lived intangibles were recorded in connection with the acquisitions during the nine months ended September 30, 2023. 2022 Acquisitions The Company completed the following acquisitions during the nine months ended September 30, 2022, paying the purchase price in cash in each transaction: (a) a purchase of 100% of equity interests of Lifecycle Marketing Group Limited, acquired on January 21, 2022, a United Kingdom-based portfolio of pregnancy and parenting brands, including Emma’s Diary and Health Professional Academy, reported within our Digital Media segment; (b) a purchase of 100% of equity interests of FitNow, Inc, acquired on June 2, 2022, a Massachusetts-based provider of weight loss products and support, reported within our Digital Media segment; and (c) four other immaterial Digital Media acquisitions. During the nine months ended September 30, 2023, the purchase price accounting was finalized for these acquisitions. The Condensed Consolidated Statement of Operations since the date of each acquisition reflects the results of operations of all 2022 acquisitions. For the nine months ended September 30, 2022, these acquisitions contributed $19.6 million to the Company’s revenues. Net income contributed by these acquisitions was not separately identifiable due to the Company’s integration activities and is impracticable to provide. Total consideration for these transactions was $121.7 million, net of cash acquired and assumed liabilities. The following table summarizes the allocation of the purchase consideration for all 2022 acquisitions as of September 30, 2022 (in thousands): Assets and Liabilities Valuation Accounts receivable $ 7,433 Prepaid expenses and other current assets 4,915 Property and equipment 369 Operating lease right-of-use assets, noncurrent 546 Trade names 12,838 Customer relationships 20,540 Other intangibles 18,165 Goodwill 93,827 Other long-term assets 11 Accounts payable and accrued expenses (4,656) Deferred revenue (21,332) Deferred tax liability (10,436) Other long-term liabilities (516) Total $ 121,704 The fair value of the assets acquired includes accounts receivable of $7.4 million, of which none is expected to be uncollectible. The Company did not acquire any other classes of receivables as a result of its acquisitions. Goodwill recognized associated with these acquisitions during the nine months ended September 30, 2022 was $93.8 million, of which $1.2 million is expected to be deductible for income tax purposes. Unaudited Pro Forma Financial Information for All 2022 Acquisitions The following unaudited pro forma information is not necessarily indicative of the Company’s consolidated results of operations in future periods or the results that actually would have been realized had the Company and the acquired businesses been combined companies during the periods presented. These pro forma results are estimates and exclude any savings or synergies that would have resulted from these business acquisitions had they occurred on January 1, 2022. This unaudited pro forma supplemental information includes incremental intangible asset amortization and other charges as a result of the acquisitions, net of the related tax effects. The supplemental information on an unaudited pro forma financial basis presents the combined results of the Company and its acquisitions during the three and nine months ended September 30, 2022 as if each acquisition had occurred on January 1, 2022 (in thousands, except per share amounts): Three months ended September 30, 2022 Nine months ended September 30, 2022 (unaudited) (unaudited) Revenues $ 342,173 $ 1,010,600 Net income (loss) $ 18,120 $ (3,801) Income (loss) per common share - Basic $ 0.39 $ (0.08) Income (loss) per common share - Diluted $ 0.39 $ (0.08)

Investments

Investments	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consist primarily of equity and debt securities. Investments in equity securities On October 7, 2021, the Company completed the separation of its cloud fax business (the “Separation”) into an independent publicly traded company, Consensus Cloud Solutions, Inc. (“Consensus”). Following the Separation, the Company retained shares of Consensus common stock and as of September 30, 2023 and December 31, 2022, the Company held approximately 1.0 million and 1.1 million shares, respectively, of the common stock of Consensus. As of September 30, 2023 and December 31, 2022, the carrying value of the investment in Consensus was $26.0 million and $58.4 million respectively, and are included in ‘Short-term investments’ in the Condensed Consolidated Balance Sheets. The Company accounts for its investment in Consensus at fair value under the fair value option, and the related fair value gains and losses are recognized in earnings. During the three and nine months ended September 30, 2022, the Company completed the non-cash tax-free debt-for-equity exchanges of 500,000 and 2,800,000 shares, respectively, of its common stock of Consensus for the extinguishment of $22.3 million and $112.3 million, respectively of principal of the Company’s Term Loan Facilities (as defined in Note 7 - Debt ), and related interest. During the three and nine months ended September 30, 2023, the Company sold zero and 52,393 shares, respectively, of common stock of Consensus in the open market. Losses on equity securities were recorded in ‘Unrealized (loss) gain on short-term investments held at the reporting date, net’ in the Condensed Consolidated Statements of Operations consisted of the following (in thousands): Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Net (losses) gains during the period $ (6,019) $ 4,672 $ (29,203) $ (61,937) Less: gains (losses) on securities sold during the period — 471 357 (47,772) Unrealized (losses) gains recognized during the period on short-term investments held at the reporting date, net $ (6,019) $ 4,201 $ (29,560) $ (14,165) On July 31, 2023, the Company entered into an agreement to purchase $25.0 million of equity of Xyla, Inc. (“Xyla”) for a minority ownership stake. This minority investment was made in the form of cash and shares of the Company’s common stock. The Company accounts for its investment in Xyla as an equity investment without a readily determinable fair value measured under the measurement alternative in accordance with ASC Topic 321, Investments - Equity Securities . As of September 30, 2023, the investment in Xyla has a carrying value of $25.3 million, including transaction costs, and is included in ‘Long-term investments’ in the Condensed Consolidated Balance Sheets. Investment in corporate debt security On April 12, 2022, the Company entered into an agreement with an entity and acquired 4% convertible notes with an aggregate value of $15.0 million. On May 19, 2023, the Company entered into the Note Amendment Agreement (the “Amendment”) with respect to the same entity. The Amendment increased the interest rate on the convertible notes to 6%, extended the maturity date, and subordinated all existing and future obligations, liabilities, and indebtedness of the entity to the entity’s senior creditor, as defined in the Amendment. This investment is included in ‘Long-term investments, net’ in the Condensed Consolidated Balance Sheets and is classified as available-for-sale. The investment was initially measured at its transaction price and subsequently remeasured at fair value, with unrealized gains and losses reported as a component of other comprehensive income. As of September 30, 2023, both the carrying value and the maximum exposure of the Company’s investment in corporate debt securities was approximately $15.5 million, with a contractual maturity date that is more than one year but less than five years. As of December 31, 2022, both of the carrying value and the maximum exposure of the Company’s equity method investment in corporate debt securities was approximately $15.6 million. Cumulative gross unrealized gains on investment in corporate debt securities as of September 30, 2023 and December 31, 2022 was approximately $0.5 million and $0.6 million, respectively. There were no investments in an unrealized loss position as of September 30, 2023 and December 31, 2022. As of September 30, 2023 and December 31, 2022, the Company did not recognize any other-than-temporary impairment losses on its debt securities. Equity method investment On September 25, 2017, the Company entered into a commitment to invest in an investment fund (the “OCV Fund”). The primary purpose of the OCV Fund is to provide a limited number of select investors with the opportunity to realize long-term appreciation from public and private companies, with a particular focus on the technology and life science industries. The general activities of the OCV Fund is to buy, sell, hold, and otherwise invest in securities of every kind and nature and rights and options with respect thereto, including, without limitation, stock, notes, bonds, debentures, and evidence of indebtedness; to exercise all rights, powers, privileges, and other incidents of ownership or possession with respect to securities held or owned by the OCV Fund; to enter into, make, and perform all contracts and other undertakings; and to engage in all activities and transactions as may be necessary, advisable, or desirable to carry out the foregoing. During both the nine months ended September 30, 2023 and 2022, the Company received no distributions from OCV. The Company recognizes its equity in the net earnings or losses relating to the investment in OCV on a one-quarter lag (including management fees) due to the timing and availability of financial information from OCV. If the Company becomes aware of a significant decline in value that is other-than-temporary, the loss will be recorded in the period in which the Company identifies the decline. During the three months ended September 30, 2023 and 2022, the Company recognized a gain (loss) from equity method investment of $0.1 million and $(3.2) million, net of tax benefit, respectively. During the nine months ended September 30, 2023 and 2022, the Company recognized a loss from equity method investment of $9.7 million and $10.1 million, net of tax benefit, respectively. The losses during the three months ended September 30, 2022 and during the nine months ended September 30, 2023 and 2022 were primarily the result of losses in the underlying investments and the loss during the three and nine months ended September 30, 2022 also included management fee expense. The Company did not recognize management fee expense in 2023 as a result of the settlement of certain litigation in 2022 whereby no further management fees would be paid by the Company to the manager of the OCV Fund. During the three and nine months ended September 30, 2022, the Company recognized expense for management fees of zero and $1.5 million, respectively, net of tax benefit. As of September 30, 2023, both of the carrying value and the maximum exposure of the Company’s equity method investment was $99.4 million. As of December 31, 2022, both of the carrying value and the maximum exposure of the Company’s equity method investment was $112.3 million. These equity securities are included within ‘Long-term investments’ in the Condensed Consolidated Balance Sheets. As a limited partner, the Company’s maximum exposure to loss is limited to its proportional ownership in the partnership. In addition, the Company is not required to contribute any future capital and any expected losses will not be in excess of the capital account. Finally, there are no call or put options, or other types of arrangements, which limit the Company’s ability to participate in losses and returns of the Fund.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company complies with the provisions of ASC 820, which defines fair value, provides a framework for measuring fair value and expands the disclosures required for fair value measurements of financial and non-financial assets and liabilities. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value. § Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. § Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. § Level 3 – Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Recurring Fair Value Measurements The Company’s money market funds are classified within Level 1. The Company values these Level 1 investments using quoted market prices. The Company’s investment in Consensus’ common stock for which the Company elected the fair value option, and the fair value of the Company’s investment in Consensus and subsequent fair value changes, are included in our assets and changes in fair value are recognized in earnings. As the initial carrying value of the investment in Consensus was negative immediately following the Separation, the Company elected the fair value option under ASC 825-10-25 to support the initial recognition of the investment in Consensus at fair value and the negative book value was recorded as a gain at the date of Separation. The fair value of the investment in Consensus is determined using quoted market prices, which is a Level 1 input. The Company has investment in a corporate debt security that does not have a readily determinable fair value because acquired securities are privately held, not traded on any public exchanges and not an investment in a mutual fund or similar investment. The fair value of the corporate debt securities is determined primarily based on significant estimates and assumptions, including Level 3 inputs. As of September 30, 2023 and December 31, 2022, the fair value was determined based upon various probability-weighted scenarios which included discount rate assumptions between 12% and 13%, depending on the probability scenario. In addition, the determination of fair value included a conversion timeframe of one The Company classifies its contingent consideration liability in connection with acquisitions within Level 3 because factors used to develop the estimated fair value are unobservable inputs, such as volatility and market risks, and are not supported by market activity. The valuation approaches used to value Level 3 investments considers unobservable inputs in the market such as time to liquidity, volatility, dividend yield, and breakpoints. Significant increases or decreases in either of the inputs in isolation would result in a significantly lower or higher fair value measurement. As of September 30, 2023 and December 31, 2022, the contingent consideration was determined using a 100% probability of payout at the maximum amount, without any other estimates applied. The following tables present the fair values of the Company’s financial assets or liabilities that are measured at fair value on a recurring basis (in thousands): September 30, 2023 Level 1 Level 2 Level 3 Fair Value Carrying Value Assets: Cash equivalents: Money market and other funds $ 288,610 $ — $ — $ 288,610 $ 288,610 Short-term investments: Certificates of deposit — 3,753 — 3,753 3,753 Consensus common stock 26,044 — — 26,044 26,044 Long-term investments: Investment in corporate debt securities — — 15,469 15,469 15,469 Total assets measured at fair value $ 314,654 $ 3,753 $ 15,469 $ 333,876 $ 333,876 Liabilities: Contingent consideration $ — $ — $ 3,389 $ 3,389 $ 3,389 Total liabilities measured at fair value $ — $ — $ 3,389 $ 3,389 $ 3,389 December 31, 2022 Level 1 Level 2 Level 3 Fair Value Carrying Value Assets: Cash equivalents: Money market and other funds $ 312,010 $ — $ — $ 312,010 $ 312,010 Short-term investments: Consensus common stock 58,421 — — 58,421 58,421 Long-term investments: Investment in corporate debt securities — — 15,586 15,586 15,586 Total assets measured at fair value $ 370,431 $ — $ 15,586 $ 386,017 $ 386,017 Liabilities: Contingent consideration $ — $ — $ 555 $ 555 $ 555 Total liabilities measured at fair value $ — $ — $ 555 $ 555 $ 555 At the end of each reporting period, management reviews the inputs to the fair value measurements of financial and non-financial assets and liabilities to determine when transfers between levels are deemed to have occurred. For the nine months ended September 30, 2023 and 2022, there were no transfers that occurred between levels. The following table presents a reconciliation of the Company’s Level 3 financial assets related to our contingent consideration arrangements and investment in corporate debt securities that are measured at fair value on a recurring basis (in thousands): Nine months ended September 30, 2023 2022 Contingent Consideration Arrangements Corporate Debt Securities Contingent Consideration Arrangements Corporate Debt Securities Balance as of January 1 $ 555 $ 15,586 $ 5,775 $ — Fair value at date of acquisition 2,834 — 555 15,000 Fair value adjustments (1) — (117) (2,305) — Payments — — (2,919) — Balance as of September 30 $ 3,389 $ 15,469 $ 1,106 $ 15,000 (1) The fair value adjustments to the contingent consideration arrangements in the table above were recorded within ‘General and administrative’ on the Condensed Consolidated Statements of Operations during the three and nine months ended September 30, 2023 and 2022. The fair value adjustments to the corporate debt securities in the table above were recorded within ‘Change in fair value on available-for-sale investments, net’ on the Condensed Consolidated Statements of Comprehensive (Loss) Income during the three and nine months ended September 30, 2023 and 2022. Nonrecurring Fair Value Measurements The Company’s non-financial assets, such as goodwill, intangible assets, right-of-use assets, and property, plant and equipment, are adjusted to fair value only when an impairment is recognized. The Company’s financial assets, comprised of equity securities without readily determinable fair value, are adjusted to fair value when observable price changes are identified or due to impairment. Such fair value measurements are based predominately on Level 3 inputs. See Note 1 - Basis of Presentation for further information on intangible assets and right-of-use assets impairment charges recorded in the three and nine months ended September 30, 2023 and 2022. See Note 7 - Goodwill and Intangible Assets for further information on a goodwill impairment charge recorded in the three and nine months ended September 30, 2023 and 2022. Other Fair Value Disclosures The fair value of the Company’s 4.625% Senior Notes and 1.75% Convertible Notes (as defined in Note 7 Debt ) was determined using quoted market prices or dealer quotes for instruments with similar maturities and other terms and credit ratings, which are Level 1 inputs. If such information is not available for the 1.75% Convertible Notes, the fair value is determined using cash-flow models of the scheduled payments discounted at market interest rates for comparable debt without the conversion feature. The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes: September 30, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value 4.625% Senior Notes $ 456,695 $ 389,022 $ 456,400 $ 390,908 1.75% Convertible Notes $ 544,048 $ 508,832 $ 542,653 $ 548,411

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The changes in carrying amounts of goodwill for the nine months ended September 30, 2023 are as follows (in thousands): Digital Media Cybersecurity and Martech Consolidated Balance as of January 1, 2023 $ 1,065,989 $ 525,485 $ 1,591,474 Goodwill acquired (Note 3 6,258 — 6,258 Goodwill impairment (56,850) — (56,850) Purchase accounting adjustments (1) (72) — (72) Foreign exchange translation (644) (503) (1,147) Balance as of September 30, 2023 $ 1,014,681 $ 524,982 $ 1,539,663 (1) Purchase accounting adjustments relate to measurement period adjustments to goodwill in connection with prior business acquisitions. During the three and nine months ended September 30, 2023 and 2022, the Company reassessed the fair value of certain reporting units within the Digital Media reportable segment as a result of a forecasted reduction in revenue and EBITDA in the reporting unit, as well as an increase in interest rates and market volatility that would affect the Company’s assumptions on its discount rate. Based on the quantitative fair value test in each period, the carrying value of the reporting unit exceeded its fair value, and the Company recorded an impairment of approximately $56.9 million during the three and nine months ended September 30, 2023, and approximately $27.4 million during the three and nine months ended September 30, 2022. Following the impairment during the three and nine months ended September 30, 2022, the reporting unit had goodwill of approximately $86.9 million and the carrying value approximated its fair value. Following the impairment during the three and nine months ended September 30, 2023, the reporting unit had goodwill of approximately $79.2 million and there is no excess of reporting unit fair value over the carrying amount, so any further decrease in estimated fair value would result in an additional impairment charge to goodwill. Changes in market conditions, and key assumptions made in future quantitative assessments, including expected cash flows, competitive factors and discount rates, could negatively impact the results of future impairment testing and could result in the recognition of an impairment charge. In each period, the fair value of the reporting unit was determined using an equal weighting of an income approach that was based on the discounted estimated future cash flows of the reporting unit and a market approach that uses the guideline public company approach. We believe the combination of these approaches provides an appropriate valuation because it incorporates the expected cash generation of the reporting unit in addition to how a third-party market participant would value the reporting unit. As the business is assumed to continue in perpetuity, the discounted future cash flows include a terminal value. Determining fair value using a discounted estimated future cash flow analysis requires the exercise of significant judgment with respect to several items, including the amount and timing of expected future cash flows and appropriate discount rates. The expected cash flows used in the discounted cash flow analyses were based on the most recent forecast for the reporting unit. For years beyond the forecast period, the estimates were based, in part, on forecasted growth rates. The discount rate the Company used represents the estimated weighted average cost of capital, which reflects the overall level of inherent risk involved in its reporting unit operations and the rate of return a market participant would expect to earn. Determining fair value using a market approach considers multiples of financial metrics based on trading multiples of a selected peer group of companies. From the comparable companies, a representative market multiple is determined, which is applied to financial metrics to estimate the fair value of the reporting unit. During the three months ended September 30, 2022, the Company realigned two reporting units within the Digital Media reportable segment. The Company re-allocated goodwill between the two identified reporting units based upon the relative fair value of the respective reporting units. Immediately before and immediately following this change in reporting units, the Company performed a quantitative fair value assessment using the income approach and market approach noted above, and each of these reporting units exceeded their respective carrying values and, therefore, there was no impairment to goodwill. Goodwill as of September 30, 2023 and December 31, 2022 reflects accumulated impairment losses of $84.2 million and $27.4 million, respectively, in the Digital Media reportable segment. Intangible Assets Subject to Amortization As of September 30, 2023, intangible assets subject to amortization relate primarily to the following (in thousands): Weighted-Average Historical Accumulated Net Trade names 10 years $ 265,406 $ 142,201 $ 123,205 Customer relationships (1) 8 years 690,942 533,565 157,377 Other purchased intangibles 9 years 476,529 389,168 87,361 Total $ 1,432,877 $ 1,064,934 $ 367,943 (1) The Company amortizes customer relationship assets in a pattern that best reflects the pace at which the asset’s benefits are consumed. This pattern results in a substantial majority of the amortization expense being recognized in the first 4 to 5 years, despite the overall life of the asset. As of December 31, 2022, intangible assets subject to amortization relate primarily to the following (in thousands): Weighted-Average Amortization Period Historical Accumulated Net Trade names 10 years $ 261,614 $ 125,422 $ 136,192 Customer relationships (1) 8 years 687,798 479,741 208,057 Other purchased intangibles 8 years 481,973 363,407 118,566 Total $ 1,431,385 $ 968,570 $ 462,815 (1) The Company amortizes customer relationship assets in a pattern that best reflects the pace at which the asset’s benefits are consumed. This pattern results in a substantial majority of the amortization expense being recognized in the first 4 to 5 years, despite the overall life of the asset. Amortization expense, included in General and administrative expense on the Condensed Consolidated Statements of Operations, was approximately $33.0 million and $36.3 million for the three months ended September 30, 2023 and 2022, respectively, and $100.0 million and $119.3 million for the nine months ended September 30, 2023 and 2022, respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consists of the following (in thousands): September 30, 2023 December 31, 2022 4.625% Senior Notes $ 460,038 $ 460,038 1.75% Convertible Notes 550,000 550,000 Total Notes 1,010,038 1,010,038 Credit Agreement — — Less: Unamortized discount (2,540) (2,764) Deferred issuance costs (6,755) (8,221) Total long-term debt $ 1,000,743 $ 999,053 As of September 30, 2023, $550.0 million of principal will mature in 2026 and $460.0 million of principal will mature in 2030. 4.625% Senior Notes On October 7, 2020, the Company completed the issuance and sale of $750.0 million aggregate principal amount of its 4.625% senior notes due 2030 (the “4.625% Senior Notes”) in a private placement offering exempt from the registration requirements of the Securities Act of 1933. The Company received proceeds of $742.7 million after deducting the initial purchasers’ discounts, commissions and offering expenses. The net proceeds were used to redeem all of its outstanding 6.0% Senior Notes due in 2025 and, the remaining net proceeds were available for general corporate purposes which may include acquisitions and the repurchase or redemption of other outstanding indebtedness. These senior notes bear interest at a rate of 4.625% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, commencing on April 15, 2021. The 4.625% Senior Notes mature on October 15, 2030, and are senior unsecured obligations of the Company which are guaranteed, jointly and severally, on an unsecured basis by certain of the Company’s existing and future domestic direct and indirect wholly-owned subsidiaries (collectively, the “Guarantors”). If the Company or any of its restricted subsidiaries acquires or creates a domestic restricted subsidiary, other than an Insignificant Subsidiary (as defined in the indenture pursuant to which the 4.625% Senior Notes were issued (the “Indenture”)), after the issue date, or any Insignificant Subsidiary ceases to fit within the definition of Insignificant Subsidiary, such restricted subsidiary is required to unconditionally guarantee, jointly and severally, on an unsecured basis, the Company’s obligations under the 4.625% Senior Notes. The Company may redeem some or all of the 4.625% Senior Notes at any time on or after October 15, 2025 at specified redemption prices plus accrued and unpaid interest, if any, up to, but excluding the redemption date. Before October 15, 2023, and following certain equity offerings, the Company also may redeem up to 40% of the 4.625% Senior Notes at a price equal to 104.625% of the principal amount, plus accrued and unpaid interest, if any, up to, but excluding the redemption date. The Company may make such redemption only if, after such redemption, at least 50% of the aggregate principal amount of the 4.625% Senior Notes remains outstanding. In addition, at any time prior to October 15, 2025, the Company may redeem some or all of the 4.625% Senior Notes at a price equal to 100% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date, plus an applicable “make-whole” premium. The discount and deferred issuance costs are being amortized, at an effective interest rate of 4.7%, to interest expense through the maturity date. The Indenture contains covenants that restrict the Company’s ability to (i) pay dividends or make distributions on the Company’s common stock or repurchase the Company’s capital stock; (ii) make certain restricted payments; (iii) create liens or enter into sale and leaseback transactions; (iv) enter into transactions with affiliates; (v) merge or consolidate with another company; and (vi) transfer and sell assets. These covenants contain certain exceptions. Restricted payments are applicable only if the Company and subsidiaries designated as restricted subsidiaries have a net leverage ratio of greater than 3.5 to 1.0. In addition, if such net leverage ratio is in excess of 3.5 to 1.0, the restriction on restricted payments is subject to various exceptions, including the total aggregate amount not exceeding the greater of (A) $250 million and (B) 50.0% of EBITDA for the most recently ended four fiscal quarter period ended immediately prior to such date for which internal financial statements are available. The Company is in compliance with its debt covenants for the 4.625% Senior Notes as of September 30, 2023. Repurchases of 4.625% Senior Notes on the open market were as follows (in thousands): Three months ended September 30, 2022 Nine months ended September 30, 2022 Principal repurchased $ 105,135 $ 181,238 Aggregate purchase price $ 94,051 $ 167,661 Gain on repurchase (1) $ 10,211 $ 12,060 (1) Presented within ‘Gain on debt extinguishment, net” on the Condensed Consolidated Statements of Operations. Cumulatively as of September 30, 2023, the Company repurchased approximately $290 million in aggregate principal of its 4.625% Senior Notes. 1.75% Convertible Notes On November 15, 2019, the Company issued $550.0 million aggregate principal amount of 1.75% convertible senior notes due November 1, 2026 (the “1.75% Convertible Notes”). The Company received proceeds of $537.1 million in cash, net of purchasers’ discounts and commissions and other debt issuance costs. A portion of the net proceeds were used to pay off all amounts outstanding under the then-existing Credit Facility. The 1.75% Convertible Notes bear interest at a rate of 1.75% per annum, payable semiannually in arrears on May 1 and November 1 of each year, beginning on May 1, 2020. The 1.75% Convertible Notes will mature on November 1, 2026, unless earlier converted or repurchased. Under certain conditions set forth in the indenture, the 1.75% Convertible Notes bear additional interest of 0.50% per annum payable semiannually in arrears on May 1 and November 1 of each year, beginning on May 1, 2021. During the three and nine months ended September 30, 2023, the Company recorded $0.3 million and $7.7 million of interest expense related to the 1.75% Convertible Notes for such additional interest. In August 2023, $7.0 million of this interest obligation was paid by the Company to the trustee under the indenture for the 1.75% Convertible Notes, which was paid to holders of record in August 2023. The Company paid its remaining obligation of approximately $0.7 million as of November 1, 2023. As of August 1, 2023, the Company has complied with the conditions set forth in the indenture. As such, the cumulative $7.7 million interest expense was non-recurring. Holders may surrender their 1.75% Convertible Notes for conversion at any time prior to the close of business on the business day immediately preceding July 1, 2026 only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on March 31, 2020 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding the calendar quarter is greater than 130% of the applicable conversion price of the 1.75% Convertible Notes on each such applicable trading day; (ii) during the five business day period following any 10 consecutive trading day period in which the trading price per $1,000 principal amount of 1.75% Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the applicable conversion rate on each such trading day; or (iii) upon the occurrence of specified corporate events. On or after July 1, 2026, and prior to the close of business on the business day immediately preceding the maturity date, holders may convert all or any portion of their notes at any time, regardless of the foregoing circumstances. The Company will settle conversions of the 1.75% Convertible Notes by paying or delivering, as the case may be, cash, shares of the Company’s common stock or a combination thereof at the Company’s election. The Company currently intends to satisfy its conversion obligation by paying and delivering a combination of cash and shares of the Company’s common stock. Holders of the notes will have the right to require the Company to repurchase for cash all or any portion of their notes upon the occurrence of certain corporate events, subject to certain conditions. As of September 30, 2023 and December 31, 2022, the market trigger conditions did not meet the conversion requirements of the 1.75% Convertible Notes and, accordingly, the 1.75% Convertible Notes are classified as long-term debt on our Condensed Consolidated Balance Sheets. As of September 30, 2023, the conversion rate is 9.3783 shares of the Company’s common stock for each $1,000 principal amount of 1.75% Convertible Notes (or 5,158,071 shares), which represents a conversion price of approximately $106.63 per share of the Company’s common stock. The conversion rate is subject to adjustment for certain events as set forth in the indenture governing the 1.75% Convertible Notes, but will not be adjusted for accrued interest. In addition, upon the occurrence of a “Make-Whole Fundamental Change” (as defined in the 1.75% Convertible Note Indenture), the Company will increase the conversion rate for a holder that elects to convert its 1.75% Convertible Notes in connection with such a corporate event in certain circumstances. The Company may not redeem the 1.75% Convertible Notes prior to November 1, 2026, and no sinking fund is provided for the 1.75% Convertible Notes. The 1.75% Convertible Notes are the Company’s general senior unsecured obligations and rank: (i) senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the 1.75% Convertible Notes; (ii) equal in right of payment to the Company’s existing and future indebtedness that is not so subordinated; (iii) effectively junior to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and (iv) structurally junior to all existing and future indebtedness and other liabilities incurred by the Company’s subsidiaries. The following table provides additional information related to the 1.75% Convertible Notes (in thousands): September 30, 2023 December 31, 2022 Principal amount of 1.75% Convertible Notes $ 550,000 $ 550,000 Less: Carrying amount of debt issuance costs (5,952) (7,347) Net carrying amount of 1.75% Convertible Notes $ 544,048 $ 542,653 The following table provides the components of interest expense related to the 1.75% Convertible Notes (in thousands): Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Contractual interest expense $ 2,746 $ 2,407 $ 14,963 $ 7,370 Amortization of debt issuance costs 466 456 1,395 1,400 Total interest expense related to 1.75% Convertible Notes $ 3,212 $ 2,863 $ 16,358 $ 8,770 Accounting for the 1.75% Convertible Notes On January 1, 2022 the Company adopted ASU 2020-06 using the modified retrospective method. As a result of this adoption, the Company de-recognized the remaining unamortized debt discount of $87.3 million on the 1.75% Convertible Notes and therefore no longer recognizes any amortization of debt discounts as interest expense. In connection with the issuance of the 1.75% Convertible Notes, the Company incurred $12.9 million of deferred issuance costs, which primarily consisted of the underwriters’ discount, legal and other professional service fees. Of the total deferred issuance costs incurred, $10.1 million were attributable to the liability component and are being amortized at an effective interest rate of 5.5%, to interest expense through the maturity date. The remaining $2.8 million of the deferred issuance costs were netted with the equity component in additional paid-in capital at the issuance date. Upon adoption of ASU 2020-06, the Company reclassified the $2.8 million from additional paid-in-capital to long-term liability and recorded a cumulative adjustment to retained earnings for amortization from the issuance date through January 1, 2022. Credit Agreement On April 7, 2021, the Company entered into a $100.0 million Credit Agreement (the “Credit Agreement”). Subject to certain conditions and approvals, the Company may, from time to time, request increases in the commitments under the Credit Agreement in an aggregate amount up to $250.0 million, for a total aggregate commitment of up to $350.0 million. The final maturity of the Credit Facility will occur on April 7, 2026. At the Company’s option, amounts borrowed under the Credit Agreement will bear interest at either (i) a base rate equal to the greater of (x) the Federal Funds Effective Rate (as defined in the Credit Agreement) in effect on such day plus 0.5% per annum, (y) the rate of interest per annum most recently announced by the Agent (as defined in the Credit Agreement) as its U.S. Dollar “Reference Rate” and (z) one month LIBOR plus 1.00% or (ii) a rate per annum equal to LIBOR divided by 1.00 minus the LIBOR Reserve Requirements (as defined in the Credit Agreement), in each case, plus an applicable margin. The applicable margin relating to any base rate loan will range from 0.50% to 1.25% and the applicable margin relating to any LIBOR loan will range from 1.50% to 2.25%, in each case, depending on the total leverage ratio of the Company. The Company is permitted to make voluntary prepayments of the Credit Facility at any time without payment of a premium or penalty. The Credit Agreement is secured by an associated collateral agreement that provides for a lien on the majority of the Company’s assets and the assets of the guarantors, in each case, subject to customary exceptions. As of September 30, 2023, there were no amounts outstanding under the Credit Agreement. The Credit Agreement contains financial maintenance covenants, including (i) a maximum total leverage ratio as of the last date of any fiscal quarter not to exceed 4.00:1.00 for the Company and its restricted subsidiaries and (ii) a minimum interest coverage ratio as of the last date of any fiscal quarter not less than 3.00:1.00 for the Company and its restricted subsidiaries. The Credit Agreement also contains restrictive covenants that limit, among other things, the Company’s and its restricted subsidiaries’ ability to incur additional indebtedness, create, incur or assume liens, consolidate, merge, liquidate or dissolve, pay dividends or make other distributions or other restricted payments, make or hold any investments, enter into certain transactions with affiliates, sell assets other than on terms specified by the Credit Agreement, amend the terms of certain other indebtedness and organizational documents, and change their lines of business and fiscal years, in each case, subject to customary exceptions. The Credit Agreement also sets forth customary events of default, including, among other things, the failure to make timely payments under the Credit Facility, the failure to satisfy certain covenants, cross-default and cross-acceleration to other material debt for borrowed money, the occurrence of a change of control, and specified events of bankruptcy and insolvency. The Company is in compliance with its debt covenants for the Credit Agreement as of September 30, 2023. Debt-for-Equity Exchange On June 10, 2022 (the “Term Loan Funding Date”), the Company entered into a Fifth Amendment to its Credit Agreement with MUFG Union Bank, N.A, as administrative agent and collateral agent and the lenders party thereto to effectuate a debt-for-equity exchange. The Fifth Amendment to the Credit Agreement provided for the issuance of senior secured term loans under the Credit Agreement (the “Term Loan Facility”), in an aggregate principal amount of $90.0 million. The Term Loan Facility had a maturity date that was 60 days after the Term Loan Funding Date. The Term Loan Facility bore interest at a base rate equal to the greater of (x) the Federal Funds Effective Rate, as defined in the Credit Agreement, in effect on such day plus 0.5% per annum, (y) the rate of interest per annum most recently announced by the Agent, as defined in the Credit Agreement, as its U.S. Dollar "Reference Rate" and (z) one month LIBOR plus 1%, provided that the base rate for any term loan made under the Credit Agreement shall be greater of clause (x) and (y) above in each case. On September 15, 2022 (the “Term Loan Two Funding Date”), the Company entered into a Sixth Amendment to its Credit Agreement with MUFG Union Bank, N.A, as administrative agent and collateral agent and the lenders party thereto to effectuate a second debt-for-equity exchange. The Sixth Amendment to the Credit Agreement provided for the Term Loan Two Facility (together with the Term Loan Facility, the “Facilities”) in an aggregate principal amount of approximately $22.3 million and certain other changes to the Credit Agreement. The Term Loan Two Facility had a maturity date that was 60 days after the Term Loan Two Funding Date. The Term Loan Two Facility bore interest at a base rate equal to the greater of (x) the Federal Funds Effective Rate, as defined in the Credit Agreement, in effect on such day plus 0.5% per annum, (y) the rate of interest per annum most recently announced by the Agent, as defined in the Credit Agreement, as its U.S. Dollar "Reference Rate" and (z) one month LIBOR plus 1.0%, provided that the base rate for any term loan made under the Credit Agreement shall be greater of clause (x) and (y) above in each case. During the three and nine months ended September 30, 2022, the Company borrowed approximately $22.3 million and $112.3 million, respectively, under the Facilities and completed the non-cash debt-for-equity exchange of 500,000 shares and 2,800,000 shares, respectively, of its common stock of Consensus to settle its obligation of $22.3 million and $112.3 million, respectively, outstanding aggregate principal amount of the Term Loan Facility plus an immaterial amount of interest. During the three and nine months ended September 30, 2022, the Company recorded a loss on extinguishment of debt of approximately $0.1 million and $0.6 million, respectively, related to the debt-for-equity exchange, which is presented within ‘Gain on debt extinguishment, net’ on our Condensed Consolidated Statements of Operations.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company and its affiliates are involved in litigation and other legal disputes or regulatory inquiries that arise in the ordinary course of business. Any claims or regulatory actions against the Company and its affiliates, whether meritorious or not, could be time consuming and costly, and could divert significant operational resources. The outcomes of such matters are subject to inherent uncertainties, carrying the potential for unfavorable rulings that could include monetary damages and injunctive relief. On July 8, 2020, Jeffrey Garcia filed a putative class action lawsuit against the Company in the Central District of California (20-cv-06096), alleging violations of federal securities laws. The court appointed a lead plaintiff. The Company moved to dismiss the consolidated class action complaint. The court granted the motion to dismiss and the plaintiff filed an amended complaint. The Company moved to dismiss the amended complaint. On August 8, 2022, the court granted the Company’s motion to dismiss the amended complaint without leave to amend. The lead plaintiff has filed a notice of appeal and the matter is pending on appeal. On September 24, 2020, International Union of Operating Engineers of Eastern Pennsylvania and Delaware filed a lawsuit in the Delaware Court of Chancery (C.A. No. 2020-0819-VCL) asserting derivative claims for breach of fiduciary duty and related theories against directors of the Company and other third parties relating generally to the investment by the Company in OCV Fund I, L.P. (the “Chancery Court Derivative Action”). On November 17, 2020, the court entered an order allowing Orlando Police Pension Fund to intervene as a plaintiff in the case. The parties reached an agreement to settle the lawsuit, which required court approval. On July 29, 2021, the parties filed a stipulation of settlement that provided the terms of the settlement and began the settlement approval process with the Court. On January 20, 2022 the court approved the settlement. Among other terms of the settlement, no further management fees will be charged and no further capital calls will be made in connection with the Company’s investment in OCV Fund I, L.P. On December 11, 2020, Danning Huang filed a lawsuit in the District of Delaware (20-cv-01687-LPS) asserting derivative claims against directors of the Company and other third parties. The lawsuit alleges violations of Section 14(a), Section 10(b), Section 20(a) and Rule 10b-5 of the Securities Exchange Act of 1934, as well as breach of fiduciary duty, unjust enrichment and abuse of control. On March 24, 2021, Fritz Ringling filed a lawsuit in the District of Delaware (21-cv-00421-UNA) asserting substantially similar derivative claims, and on April 8, 2021, the district court consolidated the two actions under the caption In re J2 Global Stockholder Derivative Litigation. No.: 20-cv-01687-LPS. As part of the settlement of the Chancery Court Derivative Action described above, the Company and its directors and officers intend to defend against the remaining claims in other actions. The Company does not believe, based on current knowledge, that the foregoing legal proceedings or claims, after giving effect to existing accrued liabilities, are likely to have a material adverse effect on the Company’s consolidated financial position, results of operations, or cash flows. However, depending on the amount and timing, an unfavorable resolution of some or all of these matters could have a material effect on the Company’s consolidated financial position, results of operations, or cash flows in a particular period. The Company has not accrued for any material loss contingencies relating to these legal proceedings because materially unfavorable outcomes are not considered probable by management. It is the Company’s policy to expense as incurred legal fees related to various litigations. Non-Income Related Taxes The Company does not collect and remit sales and use, telecommunication, or similar taxes and fees in certain jurisdictions where the Company believes such taxes are not applicable or legally required. Several states and other taxing jurisdictions have presented or threatened the Company with assessments, alleging that the Company is required to collect and remit such taxes there. The Company is currently under audit or is subject to audit for indirect taxes in various states, municipalities, and foreign jurisdictions. The Company recognizes a liability for these matters when it is probable that an obligation exists and the amount can be reasonably estimated based on all relevant information that is available at each reporting period. The Company established reserves for these matters of $25.5 million and $25.5 million as of September 30, 2023 and December 31, 2022, respectively, which are included within ‘Accounts payable’ and ‘Other long-term liabilities’ on the Company’s Condensed Consolidated Balance Sheet. It is reasonably possible that additional liabilities could be incurred resulting in additional expense, which could have a material impact to our financial results.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s tax provision for interim periods is determined using an estimate of the Company’s annual effective tax rate adjusted for discrete interim period tax impacts. Each quarter the Company updates its estimated annual effective tax rate and, if the estimate changes, makes a cumulative adjustment. The Company’s effective tax rate was (20.7)% and 45.9% for the three months ended September 30, 2023 and 2022, respectively and (1,040.8)% and 83.9% for the nine months ended September 30, 2023 and 2022, respectively. The Company’s effective tax rate for the three and nine months ended September 30, 2023 was disproportionately impacted by the goodwill impairment of $56.9 million. No corresponding tax benefit was recorded on the impairment charge since it entirely related to excess financial statement goodwill with no tax basis. During the three and nine months ended September 30, 2022 the Company’s effective tax rate was impacted due to the Company recording a deferred tax liability and corresponding tax expense of $11.3 million related to its investment in Consensus since the Company did not dispose of the shares within the one-year anniversary of the Separation. The increase to tax expense was partially offset by a tax benefit of $6.7 million for recording a deferred tax asset on the impairment of goodwill recorded during the three and nine months ended September 30, 2022. As of September 30, 2023 and December 31, 2022, the Company had $41.4 million and $40.4 million, respectively, in liabilities for uncertain income tax positions included within ‘Other long-term liabilities’ on the Condensed Consolidated Balance Sheets. Accrued interest and penalties related to unrecognized tax benefits are recognized in income tax expense on the Company’s Condensed Consolidated Statement of Operations.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity On August 6, 2020, the Company’s Board of Directors approved a program authorizing the repurchase of up to ten million shares of our common stock through August 6, 2025 (the “2020 Program”). The Company entered into certain Rule 10b5-1 trading plans to execute repurchases under the 2020 Program. During the three months ended September 30, 2023 and 2022, the Company repurchased 605,428 and zero shares, respectively, under the 2020 Program, at an aggregate cost of approximately $41.0 million and zero, respectively (including excise tax). During the nine months ended September 30, 2023 and 2022, the Company repurchased 1,585,846 and 736,536 shares, respectively, under the 2020 Program, at an aggregate cost of approximately $104.9 million and $71.3 million, respectively (including excise tax). Cumulatively as of September 30, 2023, 5,258,692 shares were repurchased under the 2020 Program, at an aggregate cost of $401.8 million (including excise tax). As a result of the repurchases, the number of shares of the Company’s common stock available for purchase as of September 30, 2023 was 4,741,308 shares. The Company accounts for share repurchases on a trade date basis by allocating cost in excess of par value between retained earnings and additional paid-in capital. The repurchased shares are constructively retired and returned to an authorized but unissued status. On August 16, 2022, the U.S. government enacted the Inflation Reduction Act of 2022, which imposed a 1.0% excise tax on share repurchases made after December 31, 2022. As a result, the Company accrued excise tax in connection with the share repurchases it completed during the three and nine months ended September 30, 2023. Periodically, participants in the Company’s stock plans surrender to the Company shares of stock to pay the exercise price or to satisfy tax withholding obligations arising upon the exercise of stock options or the vesting of restricted stock. During the three months ended September 30, 2023 and 2022, the Company purchased and retired 9,479 and 2,601 shares at an aggregate cost of approximately $0.2 million and $0.2 million, resp ectively, from plan participants for this purpose. During the nine months ended September 30, 2023 and 2022, the Company purchased and retired 51,354 and 52,837 shares at an aggregate cost of approximately $3.5 million and $5.2 million

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company’s share-based compensation plans include the 2015 Stock Option Plan (the “2015 Plan”) and 2001 Employee Stock Purchase Plan (the “Purchase Plan”). Each plan is described below. The 2015 Plan provides for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance share units, and other share-based awards. 4,200,000 shares of the Company’s common stock are authorized to be used for 2015 Plan purposes. Options under the 2015 Plan may be granted at exercise prices determined by the Board of Directors, provided that the exercise prices shall not be less than the higher of the par value or 100% of the fair market value of the Company’s common stock subject to the option on the date the option is granted. As of September 30, 2023, 435,135 shares underlying options and 818,106 shares of restricted stock units were outstanding under the 2015 Plan. At September 30, 2023, there were 1,069,488 additional shares underlying options, shares of restricted stock and other share-based awards available for grant under the 2015 Plan. Share-Based Compensation Expense The following table presents the effects of share-based compensation expense in the Condensed Consolidated Statements of Operations during the periods presented (in thousands): Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Cost of revenues $ 76 $ 63 $ 246 $ 289 Sales and marketing 323 772 2,285 2,447 Research, development, and engineering 840 567 2,581 2,048 General and administrative 5,535 4,984 19,281 16,022 Total share-based compensation expense $ 6,774 $ 6,386 $ 24,393 $ 20,806 Restricted Stock The Company has awarded restricted stock and restricted stock units to its Board of Directors and senior staff pursuant to certain share-based compensation plans. Compensation expense resulting from restricted stock and restricted unit grants is measured at fair value on the date of grant and is recognized as share-based compensation expense over the applicable vesting period. Vesting periods are approximately one year for awards to members of the Company’s Board of Directors, four four The Company has awarded certain key employees market-based restricted stock and market-based restricted stock units pursuant to the 2015 Plan. The market-based awards have vesting conditions that are based on specified stock price targets of the Company’s common stock. Market conditions were factored into the grant date fair value using a Monte Carlo valuation model, which utilized multiple input variables to determine the probability of the Company achieving the specified stock price targets with a 20-day and 30-day lookback (trading days). Share-based compensation expense related to an award with a market condition will be recognized over the requisite service period using the graded-vesting method regardless of whether the market condition is satisfied, provided that the requisite service period has been completed. During the nine months ended September 30, 2023, the Company awarded 167,606 market-based restricted stock units at stock price targets ranging from $83.61 to $103.76 per share. During the nine months ended September 30, 2022, the Company awarded 100,193 market-based restricted stock units at stock price targets ranging from $107.97 to $138.73 per share. The per share weighted average grant-date fair values of the market-based restricted stock units granted during the nine months ended September 30, 2023 and 2022 were $70.07 and $87.11, respectively. The weighted-average fair values of market-based restricted stock units granted have been estimated utilizing the following assumptions: September 30, 2023 September 30, 2022 Underlying stock price at valuation date $ 77.80 $ 99.32 Expected volatility 32.0 % 36.7 % Risk-free interest rate 4.1 % 1.8 % Restricted stock award activity for the nine months ended September 30, 2023 is set forth below: Shares Weighted-Average Nonvested at January 1, 2023 311,281 $ 52.73 Vested (51,154) $ 72.40 Canceled (322) $ 77.75 Nonvested at September 30, 2023 259,805 $ 48.82 Restricted stock unit activity for the nine months ended September 30, 2023 is set forth below: Number of Aggregate Outstanding at January 1, 2023 464,354 Granted 464,311 Vested (73,701) Canceled (36,858) Outstanding at September 30, 2023 818,106 $ 52,105,171 Vested and expected to vest at September 30, 2023 749,680 $ 47,747,103 As of September 30, 2023, the Company had unrecognized share-based compensation cost of approximately $53.2 million associated with these restricted stock awards and restricted stock units. This cost is expected to be recognized over a weighted-average period of 2.1 years for restricted stock awards and 2.5 years for restricted stock units. Employee Stock Purchase Plan The Purchase Plan provides for the issuance of a maximum of two million shares of the Company’s common stock. Under the Purchase Plan, eligible employees can have up to 15% of their earnings withheld, up to certain maximums, to be used to purchase shares of the Company’s common stock at certain plan-defined dates. The price of the Company’s common stock purchased under the Purchase Plan for the offering periods is equal to 85% of the lesser of the fair market value of a share of common stock of the Company on the beginning or the end of the offering period. The Company determined that a plan provision exists which allows for the more favorable of two exercise prices, commonly referred to as a “look-back” feature. The purchase price discount and the look-back feature cause the Purchase Plan to be compensatory and the Company to recognize compensation expense. The compensation cost is recognized on a straight-line basis over the requisite service period. The Company used the Black-Scholes option pricing model to calculate the estimated fair value of the purchase right issued under the Purchase Plan. The expected volatility is based on historical volatility of the Company’s common stock. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a term equal to the expected term of the option assumed at the date of grant. The Company uses an annualized dividend yield based upon the per share dividends declared by its Board of Directors. Estimated forfeiture rates were 12.7% and 11.2% as of September 30, 2023 and 2022, respectively. For the nine months ended September 30, 2023 and 2022, 87,098 and 76,741 shares were purchased under the Purchase Plan, respectively at a price of $54.25 and $68.22 per share, respectively. As of September 30, 2023, 1,068,601 shares were available under the Purchase Plan for future issuance. The shared-based compensation expense related to the Purchase Plan has been estimated utilizing the following weighted-average assumptions: September 30, 2023 September 30, 2022 Risk-free interest rate 4.7% 1.5% Expected term (in years) 0.5 0.5 Expected volatility 35.8% 41.6%

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The components of basic and diluted earnings (loss) per share are as follows (in thousands, except share and per share data): Three months ended September 30, 2023 2022 Basic Diluted Basic Diluted Numerator for basic and diluted net (loss) income per common share: Net (loss) income $ (30,971) $ (30,971) $ 18,185 $ 18,185 Less: Net income available to participating securities (1) — — (4) (4) Plus: 1.75% Convertible Notes interest expense (after-tax) — — — — Net (loss) income available to the Company’s common shareholders $ (30,971) $ (30,971) $ 18,181 $ 18,181 Denominator: Basic weighted-average outstanding shares of common stock 46,062,097 46,062,097 46,871,897 46,871,897 Diluted effect of: Equity incentive plans — — — — Convertible debt — — — — Diluted weighted-average outstanding shares of common stock 46,062,097 46,062,097 46,871,897 46,871,897 Net (loss) income per share $ (0.67) $ (0.67) $ 0.39 $ 0.39 (1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid). Nine months ended September 30, 2023 2022 Basic Diluted Basic Diluted Numerator for basic and diluted net loss per common share: Net loss $ (21,919) $ (21,919) $ (3,714) $ (3,714) Less: Net income available to participating securities (1) — — — — Plus: 1.75% Convertible Notes interest expense (after-tax) — — — — Net loss available to the Company’s common shareholders $ (21,919) $ (21,919) $ (3,714) $ (3,714) Denominator: Basic weighted-average outstanding shares of common stock 46,612,660 46,612,660 46,967,671 46,967,671 Diluted effect of: Equity incentive plans — — — — Convertible debt — — — — Diluted weighted-average outstanding shares of common stock 46,612,660 46,612,660 46,967,671 46,967,671 Net loss per share $ (0.47) $ (0.47) $ (0.08) $ (0.08) (1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s businesses are based on the organizational structure used by the chief operating decision maker (“CODM”). The Company aggregates its operating segments into two reportable segments: Digital Media and Cybersecurity and Martech. The accounting policies of the businesses are the same as those described in the Company’s Annual Report on Form 10-K filed with the SEC on March 1, 2023. The Company evaluates performance based on revenue and profit or loss from operations. Information on reportable segments and reconciliation to income from operations is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Revenue by reportable segment: Digital Media $ 267,951 $ 263,896 $ 755,032 $ 757,423 Cybersecurity and Martech 73,051 78,192 219,263 237,596 Elimination of inter-segment revenues (17) (215) (152) (722) Total revenues $ 340,985 $ 341,873 $ 974,143 $ 994,297 Operating costs and expenses by reportable segment (2) : Digital Media 280,856 236,579 702,752 653,363 Cybersecurity and Martech 60,541 64,362 181,633 198,861 Elimination of inter-segment operating expenses (17) (215) (152) (722) Total segment operating expenses 341,380 300,726 884,233 851,502 Corporate (1) 12,924 12,113 38,019 37,312 Total operating costs and expenses 354,304 312,839 922,252 888,814 Operating (loss) income by reportable segment: Digital Media operating (loss) income (12,905) 27,317 52,280 104,060 Cybersecurity and Martech operating income 12,510 13,830 37,630 38,735 Total segment operating (loss) income (395) 41,147 89,910 142,795 Corporate (1) (12,924) (12,113) (38,019) (37,312) (Loss) income from operations $ (13,319) $ 29,034 $ 51,891 $ 105,483 (1) Corporate includes costs associated with general and administrative and other expenses that are managed on a global basis and that are not directly attributable to any particular segment. (2) Operating expenses for each segment include cost of sales and other operating expenses that are directly attributable to the segment, such as employee compensation expense, local sales and marketing expenses, engineering and network operations expense, depreciation and amortization, and other administrative expenses. For the three and nine months ended September 30, 2023 and 2022, the Company had an impairment to goodwill within operating costs and expenses for Digital Media.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Non-cash investing and financing activities were as follows (in thousands): Nine months ended September 30, 2023 2022 Non-cash investing activity: Property and equipment, accrued but unpaid $ 373 $ 184 Right-of-use assets acquired in exchange for operating lease obligations $ 1,282 $ 4,130 Purchase of equity investments with common stock $ 13,500 $ — Disposition of Consensus common stock (1) $ — $ 112,286 Non-cash financing activity: Debt principal settled in exchange for Consensus common stock (1) $ — $ 112,286 (1) During the nine months ended September 30, 2022, the Company disposed $160.1 million of its investment in Consensus common stock in exchange for $112.3 million of debt and recorded $47.8 million of Loss on investment, net. Supplemental data (in thousands): Nine months ended September 30, 2023 2022 Interest paid $ 22,395 $ 20,718 Income taxes paid, net of refunds $ 47,001 $ 31,632

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) Income The following table summarizes the changes in accumulated balances of other comprehensive loss, net of tax, for the three months ended September 30, 2023 (in thousands): Unrealized Gains (Losses) on Investments Foreign Currency Translation Total Balance as of July 1, 2023 $ 52 $ (79,633) $ (79,581) Other comprehensive income (loss), net of tax 309 (6,841) (6,532) Balance as of September 30, 2023 $ 361 $ (86,474) $ (86,113) The following table summarizes the changes in accumulated balances of other comprehensive loss, net of tax, for the nine months ended September 30, 2023 (in thousands): Unrealized Gains (Losses) on Investments Foreign Currency Translation Total Balance as of January 1, 2023 $ 441 $ (85,814) $ (85,373) Other comprehensive loss, net of tax (80) (660) (740) Balance as of September 30, 2023 $ 361 $ (86,474) $ (86,113) There were no reclassifications out of accumulated other comprehensive loss for the three and nine months ended September 30, 2023 and 2022, respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Consensus As of September 30, 2023 and December 31, 2022, the Company held approximately 1.0 million and 1.1 million shares of the common stock of Consensus, respectively, representing approximately 5% of the Consensus outstanding common stock. The Company determined that Consensus was no longer a related party after September 30, 2022. Related party transactions with Consensus through September 30, 2022 are included within the disclosures below. In preparation for and in executing the Separation, the Company incurred transaction-related costs, some of which were, reimbursed by Consensus. These transaction costs primarily related to professional fees associated with preparation of regulatory filings and transaction execution and separation activities within finance, tax, and legal functions. In connection with the Separation, Ziff Davis and Consensus entered into several agreements that govern the relationship of the parties following the Separation, including a separation and distribution agreement, a transition services agreement, a tax matters agreement, an employee matters agreement, an intellectual property license agreement, and a stockholder and registration rights agreement. The transition services agreement governs services including certain information technology services, finance and accounting services, and human resource and employee benefit services. The agreed-upon charges for such services are generally intended to allow the providing company to recover all costs and expenses of providing such services, and nearly all such services were terminated without extension twelve months after the Separation. During the three and nine months ended September 30, 2022, the Company recorded an offset to expense of approximately zero and $1.2 million, respectively, from Consensus related to the transition services agreement within ‘General and administrative expenses’ within the Condensed Consolidated Statements of Operations. During the three and nine months ended September 30, 2022, Consensus paid the Company approximately $7.2 million and $18.7 million, respectively, related to reimbursement of the items described above. Further, the Company assigned its lease of office space in Los Angeles, California to Consensus. Ziff Davis remained the lessee under this lease and its obligations remained in place through October 7, 2022, after which time Consensus took over the lease in full. During the three and nine months ended September 30, 2022, the Company recorded an offset to lease expense of approximately $0.5 million and $1.5 million, respectively, related to this lease, however, Consensus paid the landlord directly (other than an immaterial amount of sublease payments from Ziff Davis to Consensus). OCV OCV is considered a related party because it is an investment that is accounted for by the equity method. On September 25, 2017, the Company entered into a commitment to invest in the OCV Fund. During both of the three months ended September 30, 2023 and 2022, the Company recognized expense for management fees of zero. During the nine months ended September 30, 2023 and 2022, the Company recognized expense for management fees of zero and $1.5 million, net of tax benefit, respectively. As a result of the settlement of certain litigation in 2022, no further management fees will be paid by the Company to the manager of the OCV Fund. During both the nine months ended September 30, 2023 and 2022, the Company received no distributions from OCV.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net (loss) income	$ (30,971)	$ 18,185	$ (21,919)	$ (3,714)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Ove_2

Basis of Presentation and Overview (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment or Disposal of Long-Lived Assets	Impairment or Disposal of Long-Lived AssetsThe Company assesses whether events or changes in circumstances have occurred that potentially indicate the carrying amount of definite-lived assets may not be recoverable. During the three months ended September 30, 2023 and 2022, and the nine months ended September 30, 2023 and 2022, the Company recorded an impairment of approximately $0.7 million, $0.2 million, $2.7 million, and $0.4 million, respectively, related to certain operating lease right-of-use assets and other definite-lived intangibles. The Company regularly evaluates its office space requirements in light of more of its workforce working from home as part of a permanent “remote” or “partial remote” work model. The impairment is presented in general and administrative expense on the Condensed Consolidated Statement of Operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This update provides for optional financial reporting alternatives to reduce cost and complexities associated with accounting for contracts, hedging relationships, and other transactions affected by reference rate reform. This update applies only to contracts, hedging relationships, and other transactions that reference London Interbank Offer Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The accommodations were available for all entities through December 31, 2022, with early adoption permitted. This update was later amended by ASU 2022-06. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 . This update defers the expiration date of Accounting Standards Codification (“ASC”) Topic 848 from December 31, 2022 to December 31, 2024. We are currently evaluating the effect the adoption of this update will have on our condensed consolidated financial statements and related disclosures.
Reclassifications	Reclassifications Certain prior year reported amounts have been reclassified to conform with the 2023 presentation.
Revenue Recognition	Digital Media revenues are earned primarily from the delivery of advertising services and subscriptions to services and information. Revenue from the delivery of advertising services is earned on websites that are owned and operated by us and on those websites that are part of Digital Media’s advertising network. Depending on the individual contracts with the customer, revenue for these services is recognized over the contract period when any of the following performance obligations are satisfied: (i) when an advertisement is placed for viewing, (ii) when a qualified sales lead is delivered, (iii) when a visitor “clicks through” on an advertisement or (iv) when commissions are earned upon the sale of an advertised product. Revenue from subscriptions is earned through the granting of access to, or delivery of, data products or services to customers. Subscriptions cover video games and related content, health information, data, and other copyrighted material. Revenues under such agreements are recognized over the contract term for use of the service. Revenues are also earned from listing fees, subscriptions to online publications, and from other sources. Subscription revenues are primarily recognized over time. Revenues related to the provision of access to historical data for certain services are recorded at the time of delivery. We also generate Digital Media subscription revenues through the license of certain assets to clients. Assets are licensed for clients’ use in their own promotional materials or otherwise and may include logos, editorial reviews, or other copyrighted material. Revenues under such license agreements are recognized over the contract term for use of the asset. In instances when technology assets are licensed to our clients, revenues from the license of these assets are recognized over the term of the access period. The Digital Media business also generates revenue from other sources which include marketing and production services. Such other revenues are generally recognized over the period in which the products or services are delivered. We also generate Digital Media revenues from transactions involving the sale of perpetual software licenses, related software support, and maintenance, hardware used in conjunction with software, and other related services. Revenue is recognized for software transactions with multiple performance obligations after (i) the contract has been approved and we are committed to perform the respective obligations and (ii) we can identify and quantify each obligation and its respective selling price. Once the respective performance obligations have been identified and quantified, revenue will be recognized when the obligations are met, either over time or at a point in time depending on the nature of the obligation. Revenues from software license performance obligations are generally recognized upfront at the point in time that the software is made available to the customer to download and use. Revenues for related software support and maintenance performance obligations are related to technical support provided to customers as needed and unspecified software product upgrades, maintenance releases, and patches during the term of the support period when they are available. We are obligated to make the support services available continuously throughout the contract period. Therefore, revenues for support contracts are generally recognized ratably over the contractual period the support services are provided. Hardware product and related software performance obligations, such as an operating system or firmware, are highly interdependent and interrelated and are accounted for as a bundled performance obligation. The revenues for this bundled performance obligation are generally recognized at the point in time that the hardware and software products are delivered and ownership is transferred to the customer. Other service revenues are generally recognized over time as the services are performed. The Company records revenue on a gross basis with respect to revenue generated (i) by the Company serving online display and video advertising across its owned and operated web properties, on third-party sites, or on unaffiliated advertising networks; (ii) through the Company’s lead-generation business; and (iii) through the Company’s subscriptions. The Company records revenue on a net basis with respect to revenue paid to the Company by certain third-party advertising networks who serve online display and video advertising across the Company’s owned-and-operated web properties and certain third-party sites. Cybersecurity and Martech The Company’s Cybersecurity and Martech revenues substantially consist of subscription revenues which include subscription and usage-based fees, a significant portion of which are paid in advance. The Company defers the portions of monthly, quarterly, semi-annual, and annual fees collected in advance of the satisfaction of performance obligations and recognizes them in the period earned. Transaction Price Allocation to Future Performance Obligations As of September 30, 2023, the aggregate amount of transaction price that is allocated to future performance obligations was approximately $32.5 million and is expected to be recognized as follows: 13% by December 31, 2023, 84% between January 1, 2024 and December 31, 2025, and 3% thereafter. The amount disclosed does not include revenues related to performance obligations that are part of contracts with original expected durations of twelve months or less or portions of the contracts that remain subject to cancellations.
Fair Value Measurements	The Company complies with the provisions of ASC 820, which defines fair value, provides a framework for measuring fair value and expands the disclosures required for fair value measurements of financial and non-financial assets and liabilities. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value. § Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. § Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. § Level 3 – Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Recurring Fair Value Measurements The Company’s money market funds are classified within Level 1. The Company values these Level 1 investments using quoted market prices. The Company’s investment in Consensus’ common stock for which the Company elected the fair value option, and the fair value of the Company’s investment in Consensus and subsequent fair value changes, are included in our assets and changes in fair value are recognized in earnings. As the initial carrying value of the investment in Consensus was negative immediately following the Separation, the Company elected the fair value option under ASC 825-10-25 to support the initial recognition of the investment in Consensus at fair value and the negative book value was recorded as a gain at the date of Separation. The fair value of the investment in Consensus is determined using quoted market prices, which is a Level 1 input. The Company has investment in a corporate debt security that does not have a readily determinable fair value because acquired securities are privately held, not traded on any public exchanges and not an investment in a mutual fund or similar investment. The fair value of the corporate debt securities is determined primarily based on significant estimates and assumptions, including Level 3 inputs. As of September 30, 2023 and December 31, 2022, the fair value was determined based upon various probability-weighted scenarios which included discount rate assumptions between 12% and 13%, depending on the probability scenario. In addition, the determination of fair value included a conversion timeframe of one The Company classifies its contingent consideration liability in connection with acquisitions within Level 3 because factors used to develop the estimated fair value are unobservable inputs, such as volatility and market risks, and are not supported by market activity. The valuation approaches used to value Level 3 investments considers unobservable inputs in the market such as time to liquidity, volatility, dividend yield, and breakpoints. Significant increases or decreases in either of the inputs in isolation would result in a significantly lower or higher fair value measurement. As of September 30, 2023 and December 31, 2022, the contingent consideration was determined using a 100% probability of payout at the maximum amount, without any other estimates applied.
Stockholders' Equity	The Company accounts for share repurchases on a trade date basis by allocating cost in excess of par value between retained earnings and additional paid-in capital. The repurchased shares are constructively retired and returned to an authorized but unissued status.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenues from external customers classified by revenue source are as follows (in thousands). Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Digital Media Advertising $ 183,008 $ 186,921 $ 514,173 $ 546,186 Subscription 71,858 64,780 209,167 179,257 Other 13,085 12,195 31,692 31,980 Total Digital Media revenues $ 267,951 $ 263,896 $ 755,032 $ 757,423 Cybersecurity and Martech Subscription $ 73,051 $ 78,192 $ 219,263 $ 237,596 Total Cybersecurity and Martech revenues $ 73,051 $ 78,192 $ 219,263 $ 237,596 Elimination of inter-segment revenues (17) (215) (152) (722) Total Revenues $ 340,985 $ 341,873 $ 974,143 $ 994,297 Timing of revenue recognition Point in time $ 14,336 $ 14,417 $ 37,518 $ 32,602 Over time 326,649 327,456 936,625 961,695 Total $ 340,985 $ 341,873 $ 974,143 $ 994,297

Business Acquisitions (Tables)

Business Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Allocation of Aggregate Purchase Price	The following table summarizes the allocation of the purchase consideration for all 2022 acquisitions as of September 30, 2022 (in thousands): Assets and Liabilities Valuation Accounts receivable $ 7,433 Prepaid expenses and other current assets 4,915 Property and equipment 369 Operating lease right-of-use assets, noncurrent 546 Trade names 12,838 Customer relationships 20,540 Other intangibles 18,165 Goodwill 93,827 Other long-term assets 11 Accounts payable and accrued expenses (4,656) Deferred revenue (21,332) Deferred tax liability (10,436) Other long-term liabilities (516) Total $ 121,704
Pro Forma Financial Information	The supplemental information on an unaudited pro forma financial basis presents the combined results of the Company and its acquisitions during the three and nine months ended September 30, 2022 as if each acquisition had occurred on January 1, 2022 (in thousands, except per share amounts): Three months ended September 30, 2022 Nine months ended September 30, 2022 (unaudited) (unaudited) Revenues $ 342,173 $ 1,010,600 Net income (loss) $ 18,120 $ (3,801) Income (loss) per common share - Basic $ 0.39 $ (0.08) Income (loss) per common share - Diluted $ 0.39 $ (0.08)

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Debt Securities, Trading, and Equity Securities, FV-NI	Losses on equity securities were recorded in ‘Unrealized (loss) gain on short-term investments held at the reporting date, net’ in the Condensed Consolidated Statements of Operations consisted of the following (in thousands): Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Net (losses) gains during the period $ (6,019) $ 4,672 $ (29,203) $ (61,937) Less: gains (losses) on securities sold during the period — 471 357 (47,772) Unrealized (losses) gains recognized during the period on short-term investments held at the reporting date, net $ (6,019) $ 4,201 $ (29,560) $ (14,165)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Values of Financial Instruments Measured On Recurring Basis	The following tables present the fair values of the Company’s financial assets or liabilities that are measured at fair value on a recurring basis (in thousands): September 30, 2023 Level 1 Level 2 Level 3 Fair Value Carrying Value Assets: Cash equivalents: Money market and other funds $ 288,610 $ — $ — $ 288,610 $ 288,610 Short-term investments: Certificates of deposit — 3,753 — 3,753 3,753 Consensus common stock 26,044 — — 26,044 26,044 Long-term investments: Investment in corporate debt securities — — 15,469 15,469 15,469 Total assets measured at fair value $ 314,654 $ 3,753 $ 15,469 $ 333,876 $ 333,876 Liabilities: Contingent consideration $ — $ — $ 3,389 $ 3,389 $ 3,389 Total liabilities measured at fair value $ — $ — $ 3,389 $ 3,389 $ 3,389 December 31, 2022 Level 1 Level 2 Level 3 Fair Value Carrying Value Assets: Cash equivalents: Money market and other funds $ 312,010 $ — $ — $ 312,010 $ 312,010 Short-term investments: Consensus common stock 58,421 — — 58,421 58,421 Long-term investments: Investment in corporate debt securities — — 15,586 15,586 15,586 Total assets measured at fair value $ 370,431 $ — $ 15,586 $ 386,017 $ 386,017 Liabilities: Contingent consideration $ — $ — $ 555 $ 555 $ 555 Total liabilities measured at fair value $ — $ — $ 555 $ 555 $ 555
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents a reconciliation of the Company’s Level 3 financial assets related to our contingent consideration arrangements and investment in corporate debt securities that are measured at fair value on a recurring basis (in thousands): Nine months ended September 30, 2023 2022 Contingent Consideration Arrangements Corporate Debt Securities Contingent Consideration Arrangements Corporate Debt Securities Balance as of January 1 $ 555 $ 15,586 $ 5,775 $ — Fair value at date of acquisition 2,834 — 555 15,000 Fair value adjustments (1) — (117) (2,305) — Payments — — (2,919) — Balance as of September 30 $ 3,389 $ 15,469 $ 1,106 $ 15,000
Schedule of Carrying and Fair Values	The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes: September 30, 2023 December 31, 2022 Carrying Value Fair Value Carrying Value Fair Value 4.625% Senior Notes $ 456,695 $ 389,022 $ 456,400 $ 390,908 1.75% Convertible Notes $ 544,048 $ 508,832 $ 542,653 $ 548,411

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amounts of Goodwill	The changes in carrying amounts of goodwill for the nine months ended September 30, 2023 are as follows (in thousands): Digital Media Cybersecurity and Martech Consolidated Balance as of January 1, 2023 $ 1,065,989 $ 525,485 $ 1,591,474 Goodwill acquired (Note 3 6,258 — 6,258 Goodwill impairment (56,850) — (56,850) Purchase accounting adjustments (1) (72) — (72) Foreign exchange translation (644) (503) (1,147) Balance as of September 30, 2023 $ 1,014,681 $ 524,982 $ 1,539,663 (1) Purchase accounting adjustments relate to measurement period adjustments to goodwill in connection with prior business acquisitions.
Intangible Assets Subject to Amortization	As of September 30, 2023, intangible assets subject to amortization relate primarily to the following (in thousands): Weighted-Average Historical Accumulated Net Trade names 10 years $ 265,406 $ 142,201 $ 123,205 Customer relationships (1) 8 years 690,942 533,565 157,377 Other purchased intangibles 9 years 476,529 389,168 87,361 Total $ 1,432,877 $ 1,064,934 $ 367,943 (1) The Company amortizes customer relationship assets in a pattern that best reflects the pace at which the asset’s benefits are consumed. This pattern results in a substantial majority of the amortization expense being recognized in the first 4 to 5 years, despite the overall life of the asset. As of December 31, 2022, intangible assets subject to amortization relate primarily to the following (in thousands): Weighted-Average Amortization Period Historical Accumulated Net Trade names 10 years $ 261,614 $ 125,422 $ 136,192 Customer relationships (1) 8 years 687,798 479,741 208,057 Other purchased intangibles 8 years 481,973 363,407 118,566 Total $ 1,431,385 $ 968,570 $ 462,815 (1) The Company amortizes customer relationship assets in a pattern that best reflects the pace at which the asset’s benefits are consumed. This pattern results in a substantial majority of the amortization expense being recognized in the first 4 to 5 years, despite the overall life of the asset.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands): September 30, 2023 December 31, 2022 4.625% Senior Notes $ 460,038 $ 460,038 1.75% Convertible Notes 550,000 550,000 Total Notes 1,010,038 1,010,038 Credit Agreement — — Less: Unamortized discount (2,540) (2,764) Deferred issuance costs (6,755) (8,221) Total long-term debt $ 1,000,743 $ 999,053
Schedule of Debt Repurchases	Repurchases of 4.625% Senior Notes on the open market were as follows (in thousands): Three months ended September 30, 2022 Nine months ended September 30, 2022 Principal repurchased $ 105,135 $ 181,238 Aggregate purchase price $ 94,051 $ 167,661 Gain on repurchase (1) $ 10,211 $ 12,060 (1) Presented within ‘Gain on debt extinguishment, net” on the Condensed Consolidated Statements of Operations.
Schedule of Debt	The following table provides additional information related to the 1.75% Convertible Notes (in thousands): September 30, 2023 December 31, 2022 Principal amount of 1.75% Convertible Notes $ 550,000 $ 550,000 Less: Carrying amount of debt issuance costs (5,952) (7,347) Net carrying amount of 1.75% Convertible Notes $ 544,048 $ 542,653 The following table provides the components of interest expense related to the 1.75% Convertible Notes (in thousands): Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Contractual interest expense $ 2,746 $ 2,407 $ 14,963 $ 7,370 Amortization of debt issuance costs 466 456 1,395 1,400 Total interest expense related to 1.75% Convertible Notes $ 3,212 $ 2,863 $ 16,358 $ 8,770

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award	The following table presents the effects of share-based compensation expense in the Condensed Consolidated Statements of Operations during the periods presented (in thousands): Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Cost of revenues $ 76 $ 63 $ 246 $ 289 Sales and marketing 323 772 2,285 2,447 Research, development, and engineering 840 567 2,581 2,048 General and administrative 5,535 4,984 19,281 16,022 Total share-based compensation expense $ 6,774 $ 6,386 $ 24,393 $ 20,806
Market-Based Restricted Stock Awards, Valuation Assumptions	The weighted-average fair values of market-based restricted stock units granted have been estimated utilizing the following assumptions: September 30, 2023 September 30, 2022 Underlying stock price at valuation date $ 77.80 $ 99.32 Expected volatility 32.0 % 36.7 % Risk-free interest rate 4.1 % 1.8 %
Restricted Stock and Restricted Stock Unit Award Activity	Restricted stock award activity for the nine months ended September 30, 2023 is set forth below: Shares Weighted-Average Nonvested at January 1, 2023 311,281 $ 52.73 Vested (51,154) $ 72.40 Canceled (322) $ 77.75 Nonvested at September 30, 2023 259,805 $ 48.82 Restricted stock unit activity for the nine months ended September 30, 2023 is set forth below: Number of Aggregate Outstanding at January 1, 2023 464,354 Granted 464,311 Vested (73,701) Canceled (36,858) Outstanding at September 30, 2023 818,106 $ 52,105,171 Vested and expected to vest at September 30, 2023 749,680 $ 47,747,103
Schedule of Employee Stock Purchase Plan, Valuation Assumptions	The shared-based compensation expense related to the Purchase Plan has been estimated utilizing the following weighted-average assumptions: September 30, 2023 September 30, 2022 Risk-free interest rate 4.7% 1.5% Expected term (in years) 0.5 0.5 Expected volatility 35.8% 41.6%

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Components of Basic and Diluted Earnings Per Share	The components of basic and diluted earnings (loss) per share are as follows (in thousands, except share and per share data): Three months ended September 30, 2023 2022 Basic Diluted Basic Diluted Numerator for basic and diluted net (loss) income per common share: Net (loss) income $ (30,971) $ (30,971) $ 18,185 $ 18,185 Less: Net income available to participating securities (1) — — (4) (4) Plus: 1.75% Convertible Notes interest expense (after-tax) — — — — Net (loss) income available to the Company’s common shareholders $ (30,971) $ (30,971) $ 18,181 $ 18,181 Denominator: Basic weighted-average outstanding shares of common stock 46,062,097 46,062,097 46,871,897 46,871,897 Diluted effect of: Equity incentive plans — — — — Convertible debt — — — — Diluted weighted-average outstanding shares of common stock 46,062,097 46,062,097 46,871,897 46,871,897 Net (loss) income per share $ (0.67) $ (0.67) $ 0.39 $ 0.39 (1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid). Nine months ended September 30, 2023 2022 Basic Diluted Basic Diluted Numerator for basic and diluted net loss per common share: Net loss $ (21,919) $ (21,919) $ (3,714) $ (3,714) Less: Net income available to participating securities (1) — — — — Plus: 1.75% Convertible Notes interest expense (after-tax) — — — — Net loss available to the Company’s common shareholders $ (21,919) $ (21,919) $ (3,714) $ (3,714) Denominator: Basic weighted-average outstanding shares of common stock 46,612,660 46,612,660 46,967,671 46,967,671 Diluted effect of: Equity incentive plans — — — — Convertible debt — — — — Diluted weighted-average outstanding shares of common stock 46,612,660 46,612,660 46,967,671 46,967,671 Net loss per share $ (0.47) $ (0.47) $ (0.08) $ (0.08) (1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Reconciliation of Total Segment Operating Income to Consolidated Operating Income	Information on reportable segments and reconciliation to income from operations is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Revenue by reportable segment: Digital Media $ 267,951 $ 263,896 $ 755,032 $ 757,423 Cybersecurity and Martech 73,051 78,192 219,263 237,596 Elimination of inter-segment revenues (17) (215) (152) (722) Total revenues $ 340,985 $ 341,873 $ 974,143 $ 994,297 Operating costs and expenses by reportable segment (2) : Digital Media 280,856 236,579 702,752 653,363 Cybersecurity and Martech 60,541 64,362 181,633 198,861 Elimination of inter-segment operating expenses (17) (215) (152) (722) Total segment operating expenses 341,380 300,726 884,233 851,502 Corporate (1) 12,924 12,113 38,019 37,312 Total operating costs and expenses 354,304 312,839 922,252 888,814 Operating (loss) income by reportable segment: Digital Media operating (loss) income (12,905) 27,317 52,280 104,060 Cybersecurity and Martech operating income 12,510 13,830 37,630 38,735 Total segment operating (loss) income (395) 41,147 89,910 142,795 Corporate (1) (12,924) (12,113) (38,019) (37,312) (Loss) income from operations $ (13,319) $ 29,034 $ 51,891 $ 105,483 (1) Corporate includes costs associated with general and administrative and other expenses that are managed on a global basis and that are not directly attributable to any particular segment. (2) Operating expenses for each segment include cost of sales and other operating expenses that are directly attributable to the segment, such as employee compensation expense, local sales and marketing expenses, engineering and network operations expense, depreciation and amortization, and other administrative expenses. For the three and nine months ended September 30, 2023 and 2022, the Company had an impairment to goodwill within operating costs and expenses for Digital Media.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Other Significant Noncash Transactions	Non-cash investing and financing activities were as follows (in thousands): Nine months ended September 30, 2023 2022 Non-cash investing activity: Property and equipment, accrued but unpaid $ 373 $ 184 Right-of-use assets acquired in exchange for operating lease obligations $ 1,282 $ 4,130 Purchase of equity investments with common stock $ 13,500 $ — Disposition of Consensus common stock (1) $ — $ 112,286 Non-cash financing activity: Debt principal settled in exchange for Consensus common stock (1) $ — $ 112,286 (1) During the nine months ended September 30, 2022, the Company disposed $160.1 million of its investment in Consensus common stock in exchange for $112.3 million of debt and recorded $47.8 million of Loss on investment, net.
Other Supplemental Data	Supplemental data (in thousands): Nine months ended September 30, 2023 2022 Interest paid $ 22,395 $ 20,718 Income taxes paid, net of refunds $ 47,001 $ 31,632

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Summary of Changes in Accumulated Balances in Other Comprehensive Income	The following table summarizes the changes in accumulated balances of other comprehensive loss, net of tax, for the three months ended September 30, 2023 (in thousands): Unrealized Gains (Losses) on Investments Foreign Currency Translation Total Balance as of July 1, 2023 $ 52 $ (79,633) $ (79,581) Other comprehensive income (loss), net of tax 309 (6,841) (6,532) Balance as of September 30, 2023 $ 361 $ (86,474) $ (86,113) The following table summarizes the changes in accumulated balances of other comprehensive loss, net of tax, for the nine months ended September 30, 2023 (in thousands): Unrealized Gains (Losses) on Investments Foreign Currency Translation Total Balance as of January 1, 2023 $ 441 $ (85,814) $ (85,373) Other comprehensive loss, net of tax (80) (660) (740) Balance as of September 30, 2023 $ 361 $ (86,474) $ (86,113)

Basis of Presentation and Ove_3

Basis of Presentation and Overview (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment of intangible assets	$ 0.7	$ 0.2	$ 2.7	$ 0.4

Revenues (Disaggregation of Rev

Revenues (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 340,985	$ 341,873	$ 974,143	$ 994,297
Point in time
Disaggregation of Revenue [Line Items]
Total revenues	14,336	14,417	37,518	32,602
Over time
Disaggregation of Revenue [Line Items]
Total revenues	326,649	327,456	936,625	961,695
Operating Segments | Digital Media
Disaggregation of Revenue [Line Items]
Total revenues	267,951	263,896	755,032	757,423
Operating Segments | Cybersecurity and Martech
Disaggregation of Revenue [Line Items]
Total revenues	73,051	78,192	219,263	237,596
Operating Segments | Advertising | Digital Media
Disaggregation of Revenue [Line Items]
Total revenues	183,008	186,921	514,173	546,186
Operating Segments | Subscription | Digital Media
Disaggregation of Revenue [Line Items]
Total revenues	71,858	64,780	209,167	179,257
Operating Segments | Subscription | Cybersecurity and Martech
Disaggregation of Revenue [Line Items]
Total revenues	73,051	78,192	219,263	237,596
Operating Segments | Other | Digital Media
Disaggregation of Revenue [Line Items]
Total revenues	13,085	12,195	31,692	31,980
Elimination of inter-segment revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ (17)	$ (215)	$ (152)	$ (722)

Revenues (Narrative) (Details)

Revenues (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Contract liability, revenue recognized	$ 27.8	$ 32.2	$ 140.9	$ 154.9
Revenue, remaining performance obligation	$ 32.5		$ 32.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, percent	13%		13%
Remaining performance obligation, period	3 months		3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, percent	84%		84%
Remaining performance obligation, period	2 years		2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, percent	3%		3%
Remaining performance obligation, period

Business Acquisitions (Narrativ

Business Acquisitions (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) subsidiary	Sep. 30, 2022 USD ($) business	Dec. 31, 2022 USD ($)	Jun. 02, 2022	Jan. 21, 2022
Business Acquisition [Line Items]
Goodwill	$ 1,539,663		$ 1,591,474
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Number of businesses acquired	2	4
Fiscal 2023 Acquisitions
Business Acquisition [Line Items]
Goodwill	$ 6,300
Definite-lived intangible assets acquired	$ 7,200
Lifecycle Marketing Group Limited
Business Acquisition [Line Items]
Percentage of voting interests acquired					100%
FitNow, Inc.
Business Acquisition [Line Items]
Percentage of voting interests acquired				100%
Fiscal 2022 Acquisitions
Business Acquisition [Line Items]
Goodwill		$ 93,827
Revenue of acquiree since acquisition date		19,600
Total consideration of transactions		121,700
Fair value of accounts receivable acquired		7,400
Amount expected to be uncollectable		0
Expected income tax deductible amount		$ 1,200

Business Acquisitions (Allocati

Business Acquisitions (Allocation of Aggregate Purchase Price) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Business Acquisition [Line Items]
Goodwill	$ 1,539,663	$ 1,591,474
Fiscal 2022 Acquisitions
Business Acquisition [Line Items]
Accounts receivable			$ 7,433
Prepaid expenses and other current assets			4,915
Property and equipment			369
Operating lease right-of-use assets, noncurrent			546
Goodwill			93,827
Other long-term assets			11
Accounts payable and accrued expenses			(4,656)
Deferred revenue			(21,332)
Deferred tax liability			(10,436)
Other long-term liabilities			(516)
Total			121,704
Fiscal 2022 Acquisitions | Trade names
Business Acquisition [Line Items]
Finite-lived intangible assets			12,838
Fiscal 2022 Acquisitions | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets			20,540
Fiscal 2022 Acquisitions | Other intangibles
Business Acquisition [Line Items]
Finite-lived intangible assets			$ 18,165

Business Acquisitions (Pro Form

Business Acquisitions (Pro Forma Financial Information) (Details) - Fiscal 2022 Acquisitions - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Business Acquisition [Line Items]
Revenues	$ 342,173	$ 1,010,600
Net income (loss)	$ 18,120	$ (3,801)
Income (loss) per common share - Basic (in dollars per share)	$ 0.39	$ (0.08)
Income (loss) per common share - Diluted (in dollars per share)	$ 0.39	$ (0.08)

Investments (Narrative) (Detail

Investments (Narrative) (Details)		3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($) investment shares	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($) investment shares	Dec. 31, 2022 USD ($) investment shares	May 19, 2023	Apr. 12, 2022 USD ($)
Equity Securities [Line Items]
Shares held | shares		1,000,000		1,000,000		1,100,000
Equity securities		$ 26,000,000		$ 26,000,000		$ 58,400,000
Shares issued in debt-for-equity exchange (in shares) | shares			500,000		2,800,000
Aggregate purchase price			$ 22,300,000		$ 112,300,000
Number of shares sold in transaction (in shares) | shares		0		52,393
Gross unrealized gains		$ 500,000		$ 500,000		$ 600,000
Investments in an unrealized loss position | investment			0		0	0
Impairment losses				0		$ 0
Income (loss) from equity method investment, net		90,000	$ (3,191,000)	(9,665,000)	$ (10,077,000)
Management fees recognized		0	$ 0	0	1,500,000
Equity method investments		99,400,000		99,400,000		$ 112,300,000
Xyla, Inc.
Equity Securities [Line Items]
Payments to acquire equity securities without readily determinable fair value	$ 25,000,000
Equity securities without readily determinable fair value		$ 25,300,000		$ 25,300,000
Related Party
Equity Securities [Line Items]
Shares held | shares		1,000,000		1,000,000		1,100,000
OCV Management, LLC
Equity Securities [Line Items]
Maximum exposure of investment		$ 99,400,000		$ 99,400,000		$ 112,300,000
OCV Management, LLC | Related Party
Equity Securities [Line Items]
Distribution from equity method investment				0	$ 0
Corporate Debt Securities
Equity Securities [Line Items]
Debt securities, available-for-sale, coupon rate							6%	4%
Debt securities, available-for-sale								$ 15,000,000
Carrying value of investment		15,500,000		15,500,000		15,600,000
Maximum exposure of investment		$ 15,500,000		$ 15,500,000		$ 15,600,000

Investments (Gains (Losses) on

Investments (Gains (Losses) on Equity Securities) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Net (losses) gains during the period	$ (6,019)	$ 4,672	$ (29,203)	$ (61,937)
Less: gains (losses) on securities sold during the period	0	471	357	(47,772)
Unrealized (loss) gain on short-term investments held at the reporting date, net	$ (6,019)	$ 4,201	$ (29,560)	$ (14,165)

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details)	Sep. 30, 2023	Dec. 31, 2022	Jan. 01, 2022	Oct. 07, 2020	Nov. 15, 2019
Measurement Input, Discount Rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, measurement input	0.12	0.12
Measurement Input, Discount Rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, measurement input	0.13	0.13
Measurement Input, Conversion Term
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, term		1 year
Measurement Input, Conversion Term | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, term	1 year
Measurement Input, Conversion Term | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, term	3 years
1.75% Convertible Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate			1.75%		1.75%
4.625% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate				4.625%

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Values of Financial Instruments Measured On Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Consensus common stock	$ 26,000	$ 58,400
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Certificates of deposit	3,753
Consensus common stock	26,044	58,421
Investment in corporate debt securities	15,469	15,586
Total assets measured at fair value	333,876	386,017
Contingent consideration	3,389	555
Total liabilities measured at fair value	3,389	555
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Certificates of deposit	3,753
Consensus common stock	26,044	58,421
Investment in corporate debt securities	15,469	15,586
Total assets measured at fair value	333,876	386,017
Contingent consideration	3,389	555
Total liabilities measured at fair value	3,389	555
Money market and other funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	288,610	312,010
Money market and other funds | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	288,610	312,010
Level 1 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Certificates of deposit	0
Consensus common stock	26,044	58,421
Investment in corporate debt securities	0	0
Total assets measured at fair value	314,654	370,431
Contingent consideration	0	0
Total liabilities measured at fair value	0	0
Level 1 | Money market and other funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	288,610	312,010
Level 2 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Certificates of deposit	3,753
Consensus common stock	0	0
Investment in corporate debt securities	0	0
Total assets measured at fair value	3,753	0
Contingent consideration	0	0
Total liabilities measured at fair value	0	0
Level 2 | Money market and other funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	0	0
Level 3 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Certificates of deposit	0
Consensus common stock	0	0
Investment in corporate debt securities	15,469	15,586
Total assets measured at fair value	15,469	15,586
Contingent consideration	3,389	555
Total liabilities measured at fair value	3,389	555
Level 3 | Money market and other funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	$ 0	$ 0

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliation of Level 3 Financial Assets Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Contingent Consideration Arrangements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Balance as of January 1	$ 555	$ 5,775
Fair value at date of acquisition	2,834	555
Fair value adjustments	0	(2,305)
Payments	0	(2,919)
Balance as of September 30	3,389	1,106
Corporate Debt Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Balance as of January 1	15,586	0
Fair value at date of acquisition	0	15,000
Fair value adjustments	(117)	0
Payments	0	0
Balance as of September 30	$ 15,469	$ 15,000

Fair Value Measurements - Carry

Fair Value Measurements - Carrying and Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
4.625% Senior Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments	$ 456,695	$ 456,400
4.625% Senior Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments	389,022	390,908
1.75% Convertible Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments	544,048	542,653
1.75% Convertible Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments	$ 508,832	$ 548,411

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Changes in Carrying Amounts of Goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning balance			$ 1,591,474
Goodwill acquired			6,258
Goodwill impairment	$ (56,850)	$ (27,369)	(56,850)	$ (27,369)
Purchase accounting adjustments			(72)
Foreign exchange translation			(1,147)
Ending balance	1,539,663		1,539,663		$ 1,591,474
Digital Media
Goodwill [Roll Forward]
Goodwill impairment			(84,200)		(27,400)
Operating Segments | Digital Media
Goodwill [Roll Forward]
Beginning balance			1,065,989
Goodwill acquired			6,258
Goodwill impairment	(56,900)	$ (27,400)	(56,850)	$ (27,400)
Purchase accounting adjustments			(72)
Foreign exchange translation			(644)
Ending balance	1,014,681		1,014,681		1,065,989
Operating Segments | Cybersecurity and Martech
Goodwill [Roll Forward]
Beginning balance			525,485
Goodwill acquired			0
Goodwill impairment			0
Purchase accounting adjustments			0
Foreign exchange translation			(503)
Ending balance	$ 524,982		$ 524,982		$ 525,485

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($) reportingUnit	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment loss	$ 56,850	$ 27,369	$ 56,850	$ 27,369
Goodwill	1,539,663		1,539,663		$ 1,591,474
Amortization expense	33,000	36,300	100,000	119,300
Digital Media
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment loss			84,200		27,400
Digital Media | Operating Segments
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment loss	56,900	27,400	56,850	27,400
Goodwill	1,014,681		1,014,681		$ 1,065,989
Digital Media | Operating Segments | Digital Media Subsegment
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 79,200	$ 86,900	$ 79,200	$ 86,900
Number of reporting units | reportingUnit		2

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Intangible Assets Subject to Amortization) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Historical Cost	$ 1,432,877	$ 1,431,385
Accumulated Amortization	1,064,934	968,570
Net	$ 367,943	$ 462,815
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted-Average   Amortization Period	10 years	10 years
Historical Cost	$ 265,406	$ 261,614
Accumulated Amortization	142,201	125,422
Net	$ 123,205	$ 136,192
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average   Amortization Period	8 years	8 years
Historical Cost	$ 690,942	$ 687,798
Accumulated Amortization	533,565	479,741
Net	$ 157,377	$ 208,057
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Weighted-Average   Amortization Period	4 years	4 years
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Weighted-Average   Amortization Period	5 years	5 years
Other purchased intangibles
Finite-Lived Intangible Assets [Line Items]
Weighted-Average   Amortization Period	9 years	8 years
Historical Cost	$ 476,529	$ 481,973
Accumulated Amortization	389,168	363,407
Net	$ 87,361	$ 118,566

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Jan. 01, 2022	Oct. 07, 2020	Nov. 15, 2019
Debt Instrument [Line Items]
Less: Unamortized discount	$ (2,540)	$ (2,764)
Deferred issuance costs	(6,755)	(8,221)
Total long-term debt	1,000,743	999,053
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	0	0
Senior Notes | 4.625% Senior Notes
Debt Instrument [Line Items]
Stated interest rate				4.625%
Long-term debt, gross	460,038	460,038
Convertible Debt
Debt Instrument [Line Items]
Long-term debt, gross	1,010,038	1,010,038
Convertible Debt | 1.75% Convertible Notes
Debt Instrument [Line Items]
Stated interest rate			1.75%		1.75%
Long-term debt, gross	550,000	550,000
Deferred issuance costs	$ (5,952)	$ (7,347)			$ (2,800)

Debt - Narrative (Details)

Debt - Narrative (Details)									1 Months Ended	3 Months Ended		9 Months Ended
	Nov. 01, 2023 USD ($)	Aug. 01, 2023 USD ($)	Sep. 15, 2022 USD ($)	Jun. 10, 2022 USD ($)	Oct. 07, 2021	Apr. 07, 2021 USD ($)	Oct. 07, 2020 USD ($) fiscalQuarterPeriod	Nov. 15, 2019 USD ($) tradingDay	Aug. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) shares	Dec. 31, 2022 USD ($)	Jan. 01, 2022 USD ($)	May 01, 2021
Debt Instrument [Line Items]
Principal maturing in 2026										$ 550,000,000		$ 550,000,000
Principal maturing in 2030										460,000,000		460,000,000
Shares issued in debt-for-equity exchange (in shares) | shares											500,000		2,800,000
Unamortized discount										2,540,000		2,540,000		$ 2,764,000
Deferred issuance costs										6,755,000		6,755,000		8,221,000
Aggregate purchase price											$ 22,300,000		$ 112,300,000
Loss on extinguishment of debt										0	(10,112,000)	0	(11,505,000)
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 100,000,000
Increase available						250,000,000
Total aggregate commitment						$ 350,000,000
4.625% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Stated interest rate							4.625%
Percentage principal outstanding to be eligible for redemption							50%
Covenant, leverage ratio, minimum							3.5
Covenant restricted payment threshold							$ 250,000,000
Covenant, EBITDA minimum							50%
Covenant, EBITDA minimum, fiscal quarter period | fiscalQuarterPeriod							4
Principal repurchased											105,135,000	290,000,000	181,238,000
Debt instrument, face amount							$ 750,000,000
Proceeds from debt, net of issuance costs							$ 742,700,000
Effective interest rate							4.70%
Aggregate purchase price											94,051,000		167,661,000
4.625% Senior Notes | Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Percentage of principal amount redeemed							40%
Redemption price, percentage							104.625%
4.625% Senior Notes | Senior Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, percentage							100%
6.0% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Stated interest rate							6%
1.75% Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Stated interest rate								1.75%							1.75%
Debt instrument, face amount								$ 550,000,000
Proceeds from debt, net of issuance costs								537,100,000
Additional interest																0.50%
Interest expense										$ 300,000		$ 7,700,000
Interest expense paid to trustees									$ 7,000,000
Non-recurring interest expense		$ 7,700,000
Convertible debt conversion ratio					0.0093783
Shares issued in debt-for-equity exchange (in shares) | shares												5,158,071
Convertible debt conversion price (in usd per share) | $ / shares										$ 106.63		$ 106.63
Gross debt issuance costs								12,900,000
Accumulated amortization of debt issuance costs								$ 10,100,000
Effective interest rate								5.50%
Deferred issuance costs								$ 2,800,000		$ 5,952,000		$ 5,952,000		$ 7,347,000
1.75% Convertible Notes | Convertible Debt | Forecast
Debt Instrument [Line Items]
Interest expense	$ 700,000
1.75% Convertible Notes | Convertible Debt | Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument [Line Items]
Unamortized discount															$ 87,300,000
1.75% Convertible Notes | Convertible Debt | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Convertible debt threshold trading days | tradingDay								20
Convertible debt threshold consecutive trading days | tradingDay								30
Percentage of stock price								130%
1.75% Convertible Notes | Convertible Debt | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Convertible debt threshold trading days | tradingDay								5
Convertible debt threshold consecutive trading days | tradingDay								10
Percentage of product of stock price and conversion rate								98%
Revolving Credit Facility | Secured Debt
Debt Instrument [Line Items]
Loss on extinguishment of debt											100,000		600,000
Bridge Loan Facility | LIBOR Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate						1.50%
Bridge Loan Facility | LIBOR Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate						2.25%
Bridge Loan Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate						0.50%
Bridge Loan Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate						1.25%
Bridge Loan Facility | Bridge Loan | Federal Funds Effective Rate
Debt Instrument [Line Items]
Basis spread on variable rate						0.50%
Bridge Loan Facility | Bridge Loan | LIBOR Rate
Debt Instrument [Line Items]
Basis spread on variable rate						1%
Calculation denominator						1
Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Debt instrument, covenant, leverage ratio, maximum										4		4
Debt instrument, covenant, interest coverage ratio, minimum												3
Credit Agreement | Line of Credit | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount				$ 90,000,000
Maturity date, period after funding date			60 days	60 days
Aggregate purchase price			$ 22,300,000
Proceeds from bridge loan											$ 22,300,000		$ 112,300,000
Credit Agreement | Line of Credit | Secured Debt | Federal Funds Effective Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%	0.50%
Credit Agreement | Line of Credit | Secured Debt | LIBOR Rate
Debt Instrument [Line Items]
Basis spread on variable rate			1%	1%

Debt - Repurchases (Details)

Debt - Repurchases (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Aggregate purchase price	$ 22,300		$ 112,300
4.625% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal repurchased	105,135	$ 290,000	181,238
Aggregate purchase price	94,051		167,661
Gain on repurchase	$ 10,211		$ 12,060

Debt - Additional Information R

Debt - Additional Information Related to Convertible Notes (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Jan. 01, 2022	Nov. 15, 2019
Debt Instrument [Line Items]
Less: Carrying amount of debt issuance costs	$ (6,755)	$ (8,221)
Convertible Debt
Debt Instrument [Line Items]
Principal amount of 1.75% Convertible Notes	1,010,038	1,010,038
1.75% Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Stated interest rate			1.75%	1.75%
Principal amount of 1.75% Convertible Notes	550,000	550,000
Less: Carrying amount of debt issuance costs	(5,952)	(7,347)		$ (2,800)
Long-term debt	$ 544,048	$ 542,653

Debt - Components of Interest E

Debt - Components of Interest Expense Related to Convertible Notes (Details) - 1.75% Convertible Notes - Convertible Debt - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Contractual interest expense	$ 2,746	$ 2,407	$ 14,963	$ 7,370
Amortization of debt issuance costs	466	456	1,395	1,400
Total interest expense related to 1.75% Convertible Notes	$ 3,212	$ 2,863	$ 16,358	$ 8,770

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Loss contingencies accrued	$ 25.5	$ 25.5

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	(20.70%)	45.90%	(1040.80%)	83.90%
Goodwill impairment on business	$ 56,850	$ 27,369	$ 56,850	$ 27,369
Deferred tax and other liabilities		11,300		11,300
Deferred tax assets		$ 6,700		$ 6,700
Unrecognized tax benefits	41,400		41,400		$ 40,400
Prepaid tax payments	$ 200		$ 200		$ 3,200

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		38 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Aug. 06, 2020
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock	$ 41,019		$ 104,919	$ 71,337
Number of remaining shares available for purchase (in shares)	4,741,308		4,741,308		4,741,308
Number of shares purchased from plan participants (in shares)	9,479	2,601	51,354	52,837
Tax withholding aggregate cost	$ 200	$ 200	$ 3,500	$ 5,200
2020 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Maximum number of shares authorized to be repurchased (in shares)						10,000,000
Shares repurchased under the program (in shares)	605,428	0	1,585,846	736,536	5,258,692
Repurchase of common stock	$ 41,000	$ 0	$ 104,900	$ 71,300
Repurchase of common stock					$ 401,800

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) d $ / shares shares	Sep. 30, 2022 $ / shares shares	Dec. 31, 2022 shares
Restricted Stock And Restricted Stock Unit (RSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	296,705	152,982
Restricted Stock And Restricted Stock Unit (RSU) | Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	1 year
Restricted Stock And Restricted Stock Unit (RSU) | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	8 years
Market-based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	167,606	100,193
Trading days | d	20
Trading days, lookback | d	30
Weighted-average grant-date fair values of restricted stock awards granted (in usd per share) | $ / shares	$ 70.07	$ 87.11
Weighted-average period to recognize compensation cost (in years)	2 years 1 month 6 days
Restricted Stock, Restricted Stock Unit (RSU), Market-based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested awards granted | $	$ 53.2
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, non-option equity instruments, outstanding, number	818,106		464,354
Granted (in shares)	464,311
Weighted-average period to recognize compensation cost (in years)	2 years 6 months
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum issuance of common stock (in shares)	2,000,000,000,000
Market value of common stock (as a percent)	85%
Number of shares available for issuance (in shares)	1,068,601
Maximum earnings withheld by the employees (as a percent)	15%
Estimated forfeiture rate	12.70%	11.20%
Issuance of shares under employee stock purchase plan (in shares)	87,098	76,741
Minimum | Restricted Stock And Restricted Stock Unit (RSU) | Senior Staff
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	4 years
Minimum | Market-based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair values of restricted stock awards granted (in usd per share) | $ / shares	$ 83.61	$ 107.97
Maximum | Restricted Stock And Restricted Stock Unit (RSU) | Senior Staff
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	5 years
Maximum | Market-based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair values of restricted stock awards granted (in usd per share) | $ / shares	$ 103.76	138.73
2015 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum issuance of common stock (in shares)	4,200,000
Number of options outstanding (in shares)	435,135
Number of shares available for issuance (in shares)	1,069,488
2015 Stock Option Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Market value of common stock (as a percent)	100%
Employee Stock Purchase Plan | ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Per share price of shares purchased (in dollars per share) | $ / shares	$ 54.25	$ 68.22

Share-Based Compensation (Effec

Share-Based Compensation (Effects of Share-based Compensation expense in the Condensed Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 6,774	$ 6,386	$ 24,393	$ 20,806
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	76	63	246	289
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	323	772	2,285	2,447
Research, development and engineering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	840	567	2,581	2,048
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 5,535	$ 4,984	$ 19,281	$ 16,022

Share-Based Compensation (Marke

Share-Based Compensation (Market-Based Restricted Stock Awards, Valuation Assumptions) (Details) - Restricted (Performance) Stock - $ / shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Underlying stock price at valuation date (in usd per share)	$ 77.80	$ 99.32
Expected volatility (as a percent)	32%	36.70%
Risk-free interest rate	4.10%	1.80%

Share-Based Compensation (Restr

Share-Based Compensation (Restricted Stock and Restricted Stock Unit Award Activity) (Details)	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Restricted Stock
Shares
Nonvested at beginning of period (in shares)	311,281
Vested (in shares)	(51,154)
Canceled (in shares)	(322)
Nonvested at end of period (in shares)	259,805
Number of Shares
Vested (in shares)	(51,154)
Canceled (in shares)	322
Weighted-Average Grant-Date Fair Value
Nonvested at beginning of period (in dollars per share) | $ / shares	$ 52.73
Vested (in dollars per share) | $ / shares	72.40
Canceled (in dollars per share) | $ / shares	77.75
Nonvested at end of period (in dollars per share) | $ / shares	$ 48.82
Restricted Stock Units
Shares
Vested (in shares)	(73,701)
Canceled (in shares)	(36,858)
Number of Shares
Outstanding at beginning of period (in shares)	464,354
Granted (in shares)	464,311
Vested (in shares)	(73,701)
Canceled (in shares)	36,858
Outstanding at end of period (in shares)	818,106
Vested and expected to vest at end of period (in shares)	749,680
Aggregate Intrinsic Value
Outstanding at end of period | $	$ 52,105,171
Vested and expected to vest at end of period | $	$ 47,747,103

Share-Based Compensation (Emplo

Share-Based Compensation (Employee Stock Repurchase Plan) (Details) - ESPP	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	4.70%	1.50%
Expected term (in years)	6 months	6 months
Expected volatility (as a percent)	35.80%	41.60%

Earnings Per Share (Components

Earnings Per Share (Components of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jan. 01, 2022	Nov. 15, 2019
Numerator for basic and diluted net (loss) income per common share:
Net (loss) income - basic	$ (30,971)	$ 18,185	$ (21,919)	$ (3,714)
Less: Net income available to participating securities - basic	0	(4)	0	0
Net (loss) income available to the Company's common shareholders - basic	(30,971)	18,181	(21,919)	(3,714)
Net (loss) income - diluted	(30,971)	18,185	(21,919)	(3,714)
Less: Net income available to participating securities - diluted	0	(4)	0	0
Plus: 1.75% Convertible Notes interest expense (after-tax)	0	0	0	0
Net (loss) income available to the Company’s common shareholders - diluted	$ (30,971)	$ 18,181	$ (21,919)	$ (3,714)
Denominator:
Basic weighted -average outstanding shares of common stock (in shares)	46,062,097	46,871,897	46,612,660	46,967,671
Diluted effect of:
Equity incentive plans (in shares)	0	0	0	0
Convertible debt (in shares)	0	0	0	0
Diluted weighted-average outstanding shares of common stock (in shares)	46,062,097	46,871,897	46,612,660	46,967,671
Net (loss) income per share - basic (in dollars per share)	$ (0.67)	$ 0.39	$ (0.47)	$ (0.08)
Net (loss) income per share - diluted (in dollars per share)	$ (0.67)	$ 0.39	$ (0.47)	$ (0.08)
1.75% Convertible Notes | Convertible Debt
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Stated interest rate					1.75%	1.75%

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stock Options And Restricted Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,512,611	1,278,330	1,512,611	1,278,330
Convertible Debt Securities
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	5,158,071	5,158,071	5,158,071	5,158,071

Segment Information - Narrative

Segment Information - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 business
Segment Reporting [Abstract]
Number of segments	2

Segment Information (Reconcilia

Segment Information (Reconciliation of Total Segment Operating Income to Consolidated Operating Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 340,985	$ 341,873	$ 974,143	$ 994,297
Operating expenses	354,304	312,839	922,252	888,814
(Loss) income from operations	(13,319)	29,034	51,891	105,483
Reportable segments
Segment Reporting Information [Line Items]
Operating expenses	341,380	300,726	884,233	851,502
(Loss) income from operations	(395)	41,147	89,910	142,795
Elimination of inter-segment revenues
Segment Reporting Information [Line Items]
Revenues	(17)	(215)	(152)	(722)
Operating expenses	(17)	(215)	(152)	(722)
Corporate
Segment Reporting Information [Line Items]
Operating expenses	12,924	12,113	38,019	37,312
(Loss) income from operations	(12,924)	(12,113)	(38,019)	(37,312)
Digital Media | Reportable segments
Segment Reporting Information [Line Items]
Revenues	267,951	263,896	755,032	757,423
Operating expenses	280,856	236,579	702,752	653,363
(Loss) income from operations	(12,905)	27,317	52,280	104,060
Cybersecurity and Martech | Reportable segments
Segment Reporting Information [Line Items]
Revenues	73,051	78,192	219,263	237,596
Operating expenses	60,541	64,362	181,633	198,861
(Loss) income from operations	$ 12,510	$ 13,830	$ 37,630	$ 38,735

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Non-Cash) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Non-cash investing activity:
Property and equipment, accrued but unpaid		$ 373	$ 184
Right-of-use assets acquired in exchange for operating lease obligations		1,282	4,130
Purchase of equity investments with common stock		13,500	0
Disposition of Consensus common stock		0	112,286
Non-cash financing activity:
Debt principal settled in exchange for Consensus Common Stock		$ 0	112,286
Disposition of investment			160,100
Extinguishment of debt	$ 22,300		112,300
Loss on sale of investments			$ 47,800

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information (Supplemental Data) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 22,395	$ 20,718
Income taxes paid, net of refunds	$ 47,001	$ 31,632

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,862,682,000	$ 1,794,196,000	$ 1,892,611,000	$ 1,967,732,000
Ending balance	1,804,138,000	1,793,645,000	1,804,138,000	1,793,645,000
Other comprehensive loss reclassifications	0	0	0	0
Accumulated other comprehensive loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(79,581,000)	(83,696,000)	(85,373,000)	(57,222,000)
Other comprehensive income (loss), net of tax	(6,532,000)		(740,000)
Ending balance	(86,113,000)	$ (108,618,000)	(86,113,000)	$ (108,618,000)
Unrealized Gains (Losses) on Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	52,000		441,000
Other comprehensive income (loss), net of tax	309,000		(80,000)
Ending balance	361,000		361,000
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(79,633,000)		(85,814,000)
Other comprehensive income (loss), net of tax	(6,841,000)		(660,000)
Ending balance	$ (86,474,000)		$ (86,474,000)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Shares held	1		1		1.1
Other (loss) income, net	$ (3,571)	$ 4,218	$ (5,982)	$ 12,962
Management fees recognized	$ 0	0	$ 0	1,500
Related Party
Related Party Transaction [Line Items]
Shares held	1		1		1.1
Other (loss) income, net		7,200		18,700
Consensus | Separation Transaction | Related Party
Related Party Transaction [Line Items]
Related party transaction, ownership percentage			5%		5%
Consensus | Various Agreements | Related Party
Related Party Transaction [Line Items]
Expenses from transactions with related party		0		1,200
Offset to lease expense		$ 500		1,500
OCV Management, LLC | Related Party
Related Party Transaction [Line Items]
Distribution from equity method investment			$ 0	$ 0

Uncategorized Items - zd-202309

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]