Ziff Davis (ZD) 10-Q 8 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 04, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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	360 Park Avenue S,
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10010
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		42,741,314
Entity Central Index Key	0001084048
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Former Address
Document Information [Line Items]
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

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 386,122	$ 737,612
Short-term investments	0	27,109
Accounts receivable, net of allowances of $7,352 and $6,871, respectively	470,550	337,703
Prepaid expenses and other current assets	94,345	88,570
Total current assets	951,017	1,190,994
Long-term investments	152,817	140,906
Property and equipment, net of accumulated depreciation of $348,322 and $327,015, respectively	197,482	188,169
Intangible assets, net	470,774	325,406
Goodwill	1,572,854	1,546,065
Deferred income taxes	8,622	8,731
Other assets	65,879	70,751
TOTAL ASSETS	3,419,445	3,471,022
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	371,498	123,256
Accrued employee related costs	33,829	50,068
Other accrued liabilities	36,557	43,612
Income taxes payable, current	10,470	14,458
Deferred revenue, current	204,029	184,549
Other current liabilities	11,011	15,890
Total current liabilities	667,394	431,833
Long-term debt	863,741	1,001,312
Deferred income taxes	53,577	45,503
Income taxes payable, noncurrent	0	8,486
Deferred revenue, noncurrent	7,513	8,169
Other long-term liabilities	74,908	82,721
TOTAL LIABILITIES	1,667,133	1,578,024
Commitments and contingencies (Note 8)
Preferred stock	0	0
Common stock, $0.01 par value. Authorized 95,000,000; total issued and outstanding 42,740,848 and 46,078,464 shares at September 30, 2024 and December 31, 2023, respectively	427	461
Additional paid-in capital	480,271	472,201
Retained earnings	1,335,083	1,491,956
Accumulated other comprehensive loss	(63,469)	(71,620)
TOTAL STOCKHOLDERS’ EQUITY	1,752,312	1,892,998
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	3,419,445	3,471,022
Series A Preferred Stock
LIABILITIES AND STOCKHOLDERS’ EQUITY
Preferred stock	0	0
Series B Preferred Stock
LIABILITIES AND STOCKHOLDERS’ EQUITY
Preferred stock	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Allowance for doubtful accounts	$ 7,352	$ 6,871
Accumulated depreciation	$ 348,322	$ 327,015
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)	42,740,848	46,078,464
Common stock, shares outstanding (in shares)	42,740,848	46,078,464
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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Total revenues	$ 353,580	$ 340,985	$ 988,865	$ 974,143
Operating costs and expenses:
Direct costs	53,243	55,526	152,900	148,677
Sales and marketing	127,418	125,062	369,184	360,916
Research, development, and engineering	15,255	17,597	49,824	53,328
General, administrative, and other related costs	101,695	99,269	296,558	302,481
Goodwill impairment on business	85,273	56,850	85,273	56,850
Total operating costs and expenses	382,884	354,304	953,739	922,252
(Loss) income from operations	(29,304)	(13,319)	35,126	51,891
Interest expense, net	(4,024)	(2,817)	(7,597)	(17,780)
Loss on sale of businesses	0	0	(3,780)	0
Loss on investments, net	0	(6,019)	(7,654)	(29,203)
Other (loss) income, net	(2,633)	(3,571)	2,530	(5,982)
(Loss) income before income tax expense and (loss) income from equity method investment	(35,961)	(25,726)	18,625	(1,074)
Income tax expense	(12,539)	(5,335)	(27,760)	(11,180)
(Loss) income from equity method investment, net of tax	(77)	90	8,095	(9,665)
Net loss	$ (48,577)	$ (30,971)	$ (1,040)	$ (21,919)
Net loss per common share:
Basic (in dollars per share)	$ (1.11)	$ (0.67)	$ (0.02)	$ (0.47)
Diluted (in dollars per share)	$ (1.11)	$ (0.67)	$ (0.02)	$ (0.47)
Weighted average shares outstanding:
Basic (in shares)	43,924,158	46,062,097	45,088,272	46,612,660
Diluted (in shares)	43,924,158	46,062,097	45,088,272	46,612,660

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (48,577)	$ (30,971)	$ (1,040)	$ (21,919)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	14,514	(6,841)	7,521	(660)
Change in fair value on available-for-sale investments, net of tax expense of $118 and $93 for the three months ended September 30, 2024 and 2023, respectively, and tax expense of $200 and tax benefit of $37 for the nine months ended September 30, 2024 and 2023, respectively	352	309	630	(80)
Other comprehensive income (loss), net of tax	14,866	(6,532)	8,151	(740)
Comprehensive (loss) income	$ (33,711)	$ (37,503)	$ 7,111	$ (22,659)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Change in fair value on available-for-sale investments, net of tax expense (benefit)	$ 118	$ 93	$ 200	$ (37)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (1,040)	$ (21,919)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	151,945	167,333
Non-cash operating lease costs	8,392	7,248
Share-based compensation	30,633	24,393
Provision for credit losses on accounts receivable	2,289	2,296
Deferred income taxes	(14,575)	(25,658)
Loss on sale of businesses	3,780	0
Goodwill impairment on business	85,273	56,850
(Income) loss from equity method investments, net	(8,095)	9,665
Loss on investments, net	7,654	29,203
Other	2,390	5,113
Decrease (increase) in:
Accounts receivable	46,576	11,043
Prepaid expenses and other current assets	(8,152)	(10,059)
Other assets	(2,794)	(7,961)
Increase (decrease) in:
Accounts payable	(66,313)	1,955
Deferred revenue	9,269	(6,820)
Accrued liabilities and other current liabilities	(15,150)	(14,839)
Net cash provided by operating activities	232,082	227,843
Cash flows from investing activities:
Purchases of property and equipment	(79,476)	(82,476)
Acquisition of businesses, net of cash received	(211,526)	(9,492)
Purchases of equity method investment	0	(11,790)
Proceeds from sale of equity investments	19,455	3,174
Proceeds from sale of businesses, net of cash divested	7,860	0
Other	(884)	(4,154)
Net cash used in investing activities	(264,571)	(104,738)
Cash flows from financing activities:
Payment of debt	(134,989)	0
Repurchase of common stock	(183,981)	(107,341)
Issuance of common stock under employee stock purchase plan	4,525	4,725
Deferred payments for acquisitions	(7,442)	(14,141)
Other	(1,209)	(53)
Net cash used in financing activities	(323,096)	(116,810)
Effect of exchange rate changes on cash and cash equivalents	4,095	1,536
Net change in cash and cash equivalents	(351,490)	7,831
Cash and cash equivalents at beginning of period	737,612	652,793
Cash and cash equivalents at end of period	$ 386,122	$ 660,624

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss
Beginning balance (in shares) at Dec. 31, 2022		47,269,446
Beginning balance at Dec. 31, 2022	$ 1,892,611	$ 473	$ 439,681	$ 1,537,830	$ (85,373)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(21,919)			(21,919)
Other comprehensive income (loss), net of tax expense (benefit)	(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 and retirement of common stock (in shares)		(1,585,846)
Repurchase and retirement of common stock	(104,919)	$ (16)	(15,388)	(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
Ending balance at Sep. 30, 2023	1,804,138	$ 460	462,812	1,426,979	(86,113)
Beginning balance (in shares) at Jun. 30, 2023		46,402,143
Beginning balance at Jun. 30, 2023	1,862,682	$ 464	448,920	1,492,879	(79,581)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(30,971)			(30,971)
Other comprehensive income (loss), net of tax expense (benefit)	(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 and retirement of common stock (in shares)		(605,428)
Repurchase and retirement of common stock	(41,019)	$ (6)	(6,035)	(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
Ending balance at Sep. 30, 2023	$ 1,804,138	$ 460	462,812	1,426,979	(86,113)
Beginning balance (in shares) at Dec. 31, 2023	46,078,464	46,078,464
Beginning balance at Dec. 31, 2023	$ 1,892,998	$ 461	472,201	1,491,956	(71,620)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,040)			(1,040)
Other comprehensive income (loss), net of tax expense (benefit)	8,151				8,151
Issuance of restricted stock, net (in shares)		69,795
Issuance of restricted stock, net	(3,948)		(5,450)	1,502
Issuance of shares under employee stock purchase plan (in shares)		92,589
Issuance of shares under employee stock purchase plan	4,525	$ 1	4,524
Repurchase and retirement of common stock (in shares)		(3,500,000)
Repurchase and retirement of common stock	(181,830)	$ (35)	(24,973)	(156,822)
Share-based compensation	30,633		30,633
Increase in fair value of conversion feature on Convertible Notes, net of tax effect	3,001		3,001
Other, net	$ (178)		335	(513)
Ending balance (in shares) at Sep. 30, 2024	42,740,848	42,740,848
Ending balance at Sep. 30, 2024	$ 1,752,312	$ 427	480,271	1,335,083	(63,469)
Beginning balance (in shares) at Jun. 30, 2024		44,740,322
Beginning balance at Jun. 30, 2024	1,869,887	$ 447	476,232	1,471,543	(78,335)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(48,577)			(48,577)
Other comprehensive income (loss), net of tax expense (benefit)	14,866				14,866
Issuance of restricted stock, net (in shares)		526
Issuance of restricted stock, net	(110)		(198)	88
Repurchase and retirement of common stock (in shares)		(2,000,000)
Repurchase and retirement of common stock	(96,920)	$ (20)	(9,250)	(87,650)
Share-based compensation	10,161		10,161
Increase in fair value of conversion feature on Convertible Notes, net of tax effect	3,001		3,001
Other, net	$ 4		325	(321)
Ending balance (in shares) at Sep. 30, 2024	42,740,848	42,740,848
Ending balance at Sep. 30, 2024	$ 1,752,312	$ 427	$ 480,271	$ 1,335,083	$ (63,469)

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jul. 16, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Tax expense (benefit)		$ (118)	$ (93)	$ (200)	$ 37
3.625% Convertible Notes
Tax effect	$ (1,000)
3.625% Convertible Notes | Convertible Debt
Stated interest rate	3.625%

Basis of Presentation and Overv

Basis of Presentation and Overview	9 Months Ended
	Sep. 30, 2024
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 direct and indirect wholly-owned subsidiaries (“Ziff Davis”, the “Company”, “our”, “us”, or “we”), 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, 2023 filed with the SEC on February 26, 2024 and other filings with the SEC. The results of operations for this interim period are not necessarily indicative of the operating results that may be expected for the full year or for any future period. Description of Business Ziff Davis is a vertically focused digital media and internet company whose portfolio includes brands in technology, shopping, gaming and entertainment, connectivity, health and wellness, cybersecurity, and martech. Our Digital Media business specializes in the technology, shopping, gaming and entertainment, connectivity, and healthcare markets, offering content, tools, and services to consumers and businesses. Our Cybersecurity and Martech business provides cloud-based subscription and license services to consumers and businesses including cybersecurity, privacy, and marketing technology. Significant Accounting Policies The significant accounting policies followed by the Company are set forth in Note 1 to the Company's consolidated financial statements included in its Form 10-K for the year ended December 31, 2023. Direct costs - Direct costs represent the Company’s costs of revenue and primarily include costs associated with compensation for personnel directly involved in revenue generation, content fees, production costs, royalty fees, hosting and licensing costs, processing fees, and depreciation and amortization expense. For the three and nine months ended September 30, 2024, there have been no new or material changes to the significant accounting policies discussed in the Company’s Form 10-K for the fiscal year ended December 31, 2023. Recent Accounting Pronouncements Recently issued applicable accounting pronouncements not yet adopted 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 costs 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 do not anticipate that adoption of this standard will have a material impact on our consolidated financial statements and related disclosures. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative . The amendments in this update modify the disclosure or presentation requirements of a variety of Topics in the Codification. Certain of the amendments represent clarifications to or technical corrections of the current requirements. For entities subject to the SEC's existing disclosure requirements and entities required to file/furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for which each amendment will be the date on the SEC's removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. For all other entities, amendments will be effective two years later. We are currently evaluating the impact the adoption of this update will have on our consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which provides for enhanced disclosures about significant segment expenses. This update enhances interim disclosure requirements, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, provides new segment disclosure requirements for entities with a single reportable segment, and contains other disclosure requirements. The purpose of this update is to enable investors to better understand an entity’s overall performance and assess potential future cash flows. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments in this update are required to be adopted for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. This update will likely result in us including the additional required disclosures when adopted. We are currently evaluating the impact of adoption of this update will have on our consolidated financial statements and related disclosures and expect to adopt them for the year ended December 31, 2024. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments in the update require public business entities on an annual basis to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. This update also requires that entities disclose on an annual basis information about the amount of income taxes paid disaggregated by federal, state, and foreign taxes and the amount of income taxes paid disaggregated by individual jurisdictions in which income taxes paid is equal to or greater than a quantitative threshold. The amendments in this update are required to be adopted for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the effect the adoption of this update will have on our consolidated financial statements and related disclosures.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Digital Media Digital Media revenues are earned primarily from the delivery of advertising and performance marketing services, licensing, and subscriptions to services and information. Advertising and Performance Marketing Revenues from the delivery of advertising services are 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. The Digital Media business also generates revenues from marketing, performance marketing, production services, and the management of client gift card programs. Such revenues are generally recognized over the period in which the products or services are delivered. Subscription and Licensing Revenues from subscriptions are 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 are also earned from listing fees, subscriptions to online publications, and from other sources. Subscription revenues are primarily recognized over the contract term. Revenues related to the provision of access to historical data for certain services are recorded at the time of delivery. The Digital Media business also generates 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 that represent symbolic intellectual property, as defined in ASC 606, Revenue from Contracts with Customers . Revenues under such license agreements are generally recognized over the contract term. In instances when technology assets in the form of functional intellectual property are licensed to our clients, revenues from the license of these assets are recognized at a point in time. Digital Media subscription and licensing revenues also include revenues from transactions involving the sale of perpetual software licenses, related software support, and maintenance. 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 for download and use. Revenues from related software support and maintenance are generally recognized ratably over the contractual period, because technical support, unspecified software product upgrades, maintenance releases, and patches are provided to customers on an as needed basis, and are available during the term of the support period. We are obligated to make the support services available continuously throughout the contract period. Other Other revenues primarily include those from the sale of hardware used in conjunction with software described above, online course revenue, and game publishing revenue. 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. Cybersecurity and Martech The Company’s Cybersecurity and Martech revenues consist of subscription and licensing revenues which primarily 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. Principal vs. Agent The Company determines whether revenue should be reported on a gross or net basis by assessing whether the Company is acting as the principal or an agent in the transaction, respectively. 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, including the resale of various third-party solutions, primarily through its email security line of business. 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. 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 platforms, primarily related to the transfer of functional intellectual property. The Company records revenue on a net basis with respect to revenue earned from servicing the client gift card programs. Disaggregated Revenues Revenues from external customers classified by revenue source are as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Digital Media Advertising and performance marketing $ 193,626 $ 183,008 $ 520,063 $ 514,173 Subscription and licensing 77,450 71,858 223,681 209,167 Other 12,491 13,085 30,692 31,692 Total Digital Media revenues $ 283,567 $ 267,951 $ 774,436 $ 755,032 Cybersecurity and Martech Subscription and licensing $ 70,039 $ 73,051 $ 214,475 $ 219,263 Total Cybersecurity and Martech revenues $ 70,039 $ 73,051 $ 214,475 $ 219,263 Elimination of inter-segment revenues (26) (17) (46) (152) Total Revenues $ 353,580 $ 340,985 $ 988,865 $ 974,143 The Company recorded $33.9 million and $27.8 million of revenue for the three months ended September 30, 2024 and 2023, respectively, and $166.3 million and $140.9 million of revenue for the nine months ended September 30, 2024 and 2023, respectively, which was previously included in the deferred revenue balance as of the beginning of each respective year. Performance Obligations The Company may be a party to multiple concurrent contracts with the same customers, or a party or parties related to those customers. Some of these situations may require judgment to determine if those arrangements should be accounted for as a single contract. Consideration of both the form and the substance of the arrangement is required. The Company’s contracts with customers may include multiple performance obligations, including contracts when advertising and licensing services are sold together. The Company determines the transaction price based on the amount to which the Company expects to be entitled in exchange for services provided. The Company includes any fixed consideration within its contracts as part of the total transaction price. The Company’s contracts occasionally contain some component of variable consideration, such as commissions that are recognized in the period of the commissionable event. The Company does not include in the transaction price taxes assessed by a governmental authority that are (i) both imposed on and concurrent with a specific revenue-producing transaction and (ii) collected by us from the customer. Due to the nature of the services provided, there are no obligations for returns. The Company satisfies its performance obligations upon delivery of services to its customers. Within the Digital Media business, the Company provides content to its advertising partners which the Company sells to its partners’ customer base and receives a revenue share based on the terms of the agreement. Payment terms vary by type and location of our customers and the services offered. The time between invoicing and when payment is due is generally not significant. Our Digital Media business consists primarily of performance obligations that are satisfied over time. This was determined based on a review of the contracts and the nature of the services offered, where the customer simultaneously receives and consumes the benefit of the services provided. Revenue is recognized based on delivery of services over the contract period for advertising and on a straight-line basis or units of output basis over the contract period for subscriptions. The Company believes that the methods described are a faithful depiction of the transfer of goods and services. The Digital Media business also has licensing arrangements that have standalone functionality. As a result, the performance obligations are satisfied at a point in time. Our Cybersecurity and Martech business consists primarily of performance obligations that are satisfied over time. This has been determined based on the fact that the nature of services offered are subscription-based where the customer simultaneously receives and consumes the benefit of the services provided regardless of whether the customer uses the services. Depending on the individual contracts with the customer, revenue for these services is recognized over the contract period when any of the following materially distinct performance obligations are satisfied: • Voice, email marketing, and search engine optimization as services are delivered. • Consumer privacy services and data backup capabilities are provided. • Security solutions, including email and endpoint are provided. The Company has concluded the best measure of progress toward the complete satisfaction of the performance obligation is a time-based measure. The Company recognizes revenue on a straight-line basis throughout the subscription period, or as usage occurs, or when functional intellectual property is delivered for services outside of the subscription, and believes that the method used is a faithful depiction of the transfer of goods and services. Transaction Price Allocation to Future Performance Obligations As of September 30, 2024, the aggregate amount of transaction price that is allocated to future performance obligations was approximately $80.3 million and is expected to be recognized as follows: 23% by December 31, 2024, 54% by December 31, 2025, and 23% 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. Further, the disclosure does not include contracts for which the Company recognizes revenue in proportion to the amount it has the right to invoice for services performed.

Business Acquisitions

Business Acquisitions	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [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, expanding and diversifying its service offerings, enhancing its technology, and acquiring skilled personnel. For the three and nine months ended September 30, 2024, the Company recorded $20.7 million and $40.0 million, respectively, of incremental revenue from the businesses acquired during the nine months ended September 30, 2024. Net income contributed by these acquisitions was not separately identifiable due to the Company’s integration activities and is impracticable to provide. 2024 Acquisitions The Company completed the following acquisitions during the nine months ended September 30, 2024, paying the purchase price in cash in each transaction: (a) a purchase of 100% of the equity interest in TDS Gift Cards (“TDS”), acquired on February 5, 2024, a digital gifting and branded payments platform, which is reported within our Digital Media segment; (b) a purchase of 100% of the equity interest in CNET Media, Inc. and certain related entities (“CNET”), acquired on September 12, 2024, a digital media publication platform, which is reported within our Digital Media segment; and (c) one other immaterial Digital Media acquisition. The acquisition of TDS is expected to expand our ability to offer innovative shopping solutions to our merchant partners and broaden our capabilities to help facilitate commerce between consumers and some of the most highly visible brands. The acquisition of CNET is expected to allow us to reach a wider audience that is attractive to advertisers in the technology space. Total consideration for all businesses acquired in 2024 was $358.2 million, or $212.3 million, net of cash acquired. The following table summarizes the allocation of the preliminary purchase consideration for the acquisition of TDS and CNET as of September 30, 2024 (in thousands): Valuation Assets and Liabilities TDS (1) CNET Cash $ 142,957 $ — Accounts receivable and other current assets (2) 171,290 21,930 Intangible assets 108,924 111,650 Goodwill (2) 80,835 24,930 Deferred tax asset, noncurrent (3) — 7,355 Other assets 289 655 Accounts payable and other current liabilities (290,266) (3,841) Deferred tax liability, noncurrent (25,580) — Deferred revenue, noncurrent — (7,958) Other noncurrent liabilities (861) — Total $ 187,588 $ 154,721 (1) During the three months ended September 30, 2024, we recorded a measurement period adjustment increasing goodwill by $0.3 million with a corresponding adjustment to current assets. (2) The fair value of the assets acquired includes accounts receivable of $170.7 million for TDS and $21.2 million related to CNET, of which none is expected to be uncollectible. None of the goodwill recognized is expected to be deductible for income tax purposes. (3) Deferred tax asset balance for CNET is presented within ‘Deferred income taxes’ on the Condensed Consolidated Balance Sheets. The preliminary amounts assigned to intangible assets by type for all acquisitions during the nine months ended September 30, 2024 are summarized in the table below (in thousands): Gross Carrying Value Weighted Average Estimated Life Customer relationships $ 152,595 10 years Trade names and trademarks 27,027 9 years Other purchased intangibles 46,703 5 years Total gross carrying value $ 226,325 The initial accounting for the 2024 acquisitions is incomplete due to the timing of available information and is subject to change. The Company has recorded provisional amounts for certain intangible assets as of September 30, 2024. The accompanying Condensed Consolidated Statements of Operations reflects the results of operations of the 2024 acquisitions since the date of each respective acquisition. Unaudited Pro Forma Financial Information for the 2024 Acquisitions The following unaudited pro forma information reflects the combined results from these acquisitions had they occurred on January 1, 2023. This 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, 2023. 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. Three months ended September 30, Nine months ended September 30, (in thousands, except per share data) 2024 2023 2024 2023 (unaudited) (unaudited) (unaudited) (unaudited) Revenues $ 370,719 $ 378,343 $ 1,050,666 $ 1,075,400 Net loss $ (51,585) $ (34,772) $ (15,451) $ (46,950) Loss per common share - Basic $ (1.17) $ (0.75) $ (0.34) $ (1.01) Loss per common share - Diluted $ (1.17) $ (0.75) $ (0.34) $ (1.01) 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 accompanying Condensed Consolidated Statements of Operations reflects the results of operations of the 2023 acquisitions since the date of each respective acquisition. 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 these acquisitions during the nine months ended September 30, 2023.

Investments

Investments	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consist of equity and debt securities. Investment in equity securities On October 7, 2021, we completed the separation of our cloud fax business (the “Separation”) into an independent publicly traded company. Following the Separation, the Company retained shares of publicly traded common stock of Consensus Cloud Solutions, Inc. (“Consensus”). 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. As of December 31, 2023, the Company held approximately 1.0 million shares of the common stock of Consensus with the carrying value of $27.1 million, which was included in ‘Short-term investments’ in the Condensed Consolidated Balance Sheets. The Company accounted for its investment in Consensus at fair value under the fair value option, and the related fair value gains and losses were recognized in earnings. During the second quarter of 2024, the Company sold its remaining 1,034,295 shares of Consensus common stock in the open market. For the three months ended September 30, 2024 and 2023, losses of zero and $6.0 million, respectively, were recorded in the Condensed Consolidated Statement of Operations. For the nine months ended September 30, 2024 and 2023, losses of $7.7 million and $29.2 million, respectively, were recorded in the Condensed Consolidated Statement of Operations. On July 31, 2023, the Company entered into an agreement to purchase $25.0 million of equity in 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 each September 30, 2024 and December 31, 2023, the carrying value of the investment in Xyla was $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 to acquire 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’ 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, 2024, both the carrying value and the maximum exposure of the Company’s investment in corporate debt securities was approximately $16.5 million, with a contractual maturity date that was more than one year but less than five years. As of December 31, 2023, both the carrying value and the maximum exposure of the Company’s investment in corporate debt securities was approximately $15.7 million, with a contractual maturity date that was more than one year but less than five years. Cumulative gross unrealized gains on investment in corporate debt securities as of September 30, 2024 and December 31, 2023 were approximately $1.5 million and $0.7 million, respectively. There were no investments in an unrealized loss position as of September 30, 2024 and December 31, 2023. During the three and nine months ended September 30, 2024 and 2023, 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 OCV Fund I, LP (the “OCV Fund”). The Company recognizes its equity in the net earnings or losses relating to the investment in the OCV Fund on a one-quarter lag due to the timing and availability of financial information from the OCV Fund. 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, 2024 and 2023, the Company recognized (loss) income from the equity method investment of $(0.1) million and $0.1 million, net of tax benefit (expense), respectively. During the nine months ended September 30, 2024 and 2023, the Company recognized income (loss) from the equity method investment of $8.1 million and $(9.7) million, net of tax (expense) benefit, respectively. The income (loss) in the periods presented were primarily the result of gains or losses in the underlying investments. As of September 30, 2024, both the carrying value and the maximum exposure of the Company’s equity method investment was approximately $110.9 million. As of December 31, 2023, both the carrying value and the maximum exposure of the Company’s equity method investment was approximately $99.9 million. These equity securities are included in ‘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. 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 OCV Fund.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
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 fair value of the Company’s investment in Consensus common stock was determined using quoted market prices, which is a Level 1 input. On May 22, 2024, the Company sold its remaining investment in Consensus common stock (see Note 4 - Investments ). The Company has investment in a corporate debt security that does not have a readily determinable fair value because the acquired securities are privately held, not traded on any public exchanges and not an investment in a mutual fund or similar investment. The investment in corporate debt securities is classified as available-for-sale and is initially measured at its transaction price. The fair value of the corporate debt securities is determined primarily based on estimates and assumptions, including Level 3 inputs. As of September 30, 2024 and December 31, 2023, the fair value was determined based upon various probability-weighted scenarios which included discount rate assumptions between 13% and 15%, depending on the probability scenario. In addition, the determination of fair value included a conversion timeframe of approximately 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 any of the inputs in isolation could result in a significantly lower or higher fair value measurement. As of September 30, 2024 and December 31, 2023, 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, 2024 Level 1 Level 2 Level 3 Fair Value Carrying Value Assets: Cash equivalents: Money market and other funds $ 49,568 $ — $ — $ 49,568 $ 49,568 Long-term investments: Investment in corporate debt securities — — 16,529 16,529 16,529 Total assets measured at fair value $ 49,568 $ — $ 16,529 $ 66,097 $ 66,097 Liabilities: Contingent consideration $ — $ — $ 2,834 $ 2,834 $ 2,834 Total liabilities measured at fair value $ — $ — $ 2,834 $ 2,834 $ 2,834 December 31, 2023 Level 1 Level 2 Level 3 Fair Value Carrying Value Assets: Cash equivalents: Money market and other funds $ 340,928 $ — $ — $ 340,928 $ 340,928 Short-term investments: Consensus common stock 27,109 — — 27,109 27,109 Long-term investments: Investment in corporate debt securities — — 15,699 15,699 15,699 Total assets measured at fair value $ 368,037 $ — $ 15,699 $ 383,736 $ 383,736 Liabilities: Contingent consideration $ — $ — $ 2,834 $ 2,834 $ 2,834 Total liabilities measured at fair value $ — $ — $ 2,834 $ 2,834 $ 2,834 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 three and nine months ended September 30, 2024 and 2023, there were no transfers that occurred between levels. The following table presents a reconciliation of the Company’s Level 3 financial assets and liabilities 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, 2024 2023 Contingent Consideration Arrangements Corporate Debt Securities Contingent Consideration Arrangements Corporate Debt Securities Balance as of January 1 $ 2,834 $ 15,699 $ 555 $ 15,586 Fair value at date of acquisition — — 2,834 — Fair value adjustments (1) — 830 — (117) Balance as of September 30 $ 2,834 $ 16,529 $ 3,389 $ 15,469 (1) The fair value adjustments to the corporate debt securities in the table above were recorded in ‘Change in fair value on available-for-sale investments, net’ in the Condensed Consolidated Statements of Comprehensive (Loss) Income during the three and nine months ended September 30, 2024 and 2023. 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 7 - Goodwill and Intangible Assets for further information on goodwill impairment charges recorded during the three and nine months ended September 30, 2024 and 2023. Other Fair Value Disclosures The fair value of the Company’s 4.625% Senior Notes, 3.625% Convertible 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 and 3.625% 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 (in thousands): September 30, 2024 December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value 4.625% Senior Notes $ 457,106 $ 432,785 $ 456,796 $ 405,408 1.75% Convertible Notes (1) $ 148,062 $ 138,850 $ 544,516 $ 519,492 3.625% Convertible Notes (2) $ 258,573 $ 251,484 $ — $ — (1) On July 16, 2024, the Company exchanged approximately $400.9 million in aggregate principal amount of the Company’s 1.75% Convertible Notes as part of the Exchange Transaction. The Company issued $263.1 million in aggregate principal amount of new 3.625% Convertible Notes, as defined in Note 7 — Debt, and paid an aggregate of approximately $135.0 million in cash. Refer to Note 7 — Debt for additional information.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2024
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, 2024 are as follows (in thousands): Digital Media Cybersecurity and Martech Consolidated Balance as of January 1, 2024 $ 1,016,880 $ 529,185 $ 1,546,065 Goodwill acquired (1) 112,534 — 112,534 Goodwill removed due to sale of businesses (2) (3,983) — (3,983) Goodwill impairment (85,273) — (85,273) Foreign exchange translation 1,180 2,331 3,511 Balance as of September 30, 2024 $ 1,041,338 $ 531,516 $ 1,572,854 (1) Goodwill recognized in connection with the acquisitions during the nine months ended September 30, 2024 (see Note 3 Business Acquisitions ), which is not expected to be deductible for income tax purposes . (2) During the nine months ended September 30, 2024, in a cash transaction, the Company sold an international business at Digital Media within its shopping vertical, which resulted in $4.0 million of goodwill being removed in connection with this sale. Goodwill as of September 30, 2024 and December 31, 2023 reflects accumulated impairment losses of $169.5 million and $84.2 million, respectively, in the Digital Media reportable segment. During the three and nine months ended September 30, 2024, the Company reassessed the fair value of certain reporting units within the Digital Media and Cybersecurity and Martech reportable segments as a result of a sustained decline in the Company’s stock price, and forecasted reductions in revenue or earnings before interest, taxes, depreciation, and amortization (“EBITDA”) in certain of its reporting units. Based on the quantitative fair value test of two reporting units within the Digital Media reportable segment, the carrying value of the reporting units exceeded their fair value, and the Company recorded an impairment of approximately $85.3 million during the three and nine months ended September 30, 2024. During the three and nine months ended September 30, 2023, the Company reassessed the fair value of certain reporting units within the Digital Media reportable segment as a result of forecasted reduction in revenue and EBITDA in the reporting unit, as well as an increase in interest rates and market volatility that could affect the Company’s assumptions on its discount rates. Based on the quantitative fair value test, the carrying value of one 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. During each period, the fair value of the relevant 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 based on public and private market information. As each 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. Following the impairments at two reporting units during the three and nine months ended September 30, 2024, there was no excess of fair value over the carrying value at those reporting units. So any further decrease in estimated fair value of these two reporting units will result in an additional impairment charge to goodwill. Further, as of September 30, 2024, there was one additional reporting unit within the Digital Media reportable segment that may be at risk of impairment. In total, goodwill for these three reporting units was $498.4 million as of September 30, 2024. 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. Intangible Assets Subject to Amortization As of September 30, 2024, intangible assets subject to amortization relate primarily to the following (in thousands): Historical Accumulated Net Trade names and trademarks $ 375,332 $ 214,695 $ 160,637 Customer relationships 847,121 603,979 243,142 Other purchased intangibles 427,589 360,594 66,995 Total $ 1,650,042 $ 1,179,268 $ 470,774 As of December 31, 2023, intangible assets subject to amortization relate primarily to the following (in thousands): Historical Accumulated Net Trade names and trademarks $ 347,895 $ 192,111 $ 155,784 Customer relationships 692,634 555,384 137,250 Other purchased intangibles 379,703 347,331 32,372 Total $ 1,420,232 $ 1,094,826 $ 325,406 Amortization expense, included in ‘General, administrative, and other related costs’ in our Condensed Consolidated Statements of Operations, was approximately $28.5 million and $33.0 million for the three months ended September 30, 2024 and 2023, respectively, and $82.5 million and $100.0 million for the nine months ended September 30, 2024 and 2023, respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consists of the following (in thousands): September 30, 2024 December 31, 2023 4.625% Senior Notes $ 460,038 $ 460,038 1.75% Convertible Notes 149,109 550,000 3.625% Convertible Notes 263,147 — Total Notes 872,294 1,010,038 Credit Agreement — — Less: Unamortized discount (6,015) (2,463) Deferred issuance costs (1) (2,538) (6,263) Total long-term debt $ 863,741 $ 1,001,312 (1) Includes $0.7 million and $0.8 million of carrying amount of deferred issuance costs on the 4.625% Senior Notes as of September 30, 2024 and December 31, 2023, respectively, $1.0 million and $5.5 million of carrying amount of deferred issuance costs on the 1.75% Convertible Notes as of September 30, 2024 and December 31, 2023, respectively, and $0.8 million of carrying amount of deferred issuance costs on the 3.625% Convertible Notes as of September 30, 2024. As of September 30, 2024, $149.1 million of principal of 1.75% Convertible Notes will mature in 2026, $263.1 million of principal of 3.625% Convertible Notes will mature in 2028, and $460.0 million of principal of 4.625% Senior Notes 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, as amended. The Company received proceeds of $742.7 million, net of the initial purchasers’ discounts, commissions and offering expenses. The net proceeds were used to redeem all of its then 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. 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, 2024. Cumulatively as of September 30, 2024, the Company has repurchased approximately $290 million in aggregate principal of its 4.625% Senior Notes. There were no repurchases of 4.625% Senior Notes during the three and nine months ended September 30, 2024 and September 30, 2023. 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. On July 16, 2024, the Company exchanged approximately $400.9 million in aggregate principal amount of its 1.75% Convertible Notes as part of the Exchange Transaction, as defined below. As of September 30, 2024, the remaining principal amount of the 1.75% Convertible Notes was $149.1 million. The Company also paid outstanding and accrued interest of $1.5 million on the exchanged 1.75% Convertible Notes during the three months ended September 30, 2024. 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, 2024 and December 31, 2023, 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, 2024, 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 1,398,391 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 the components of interest expense related to the 1.75% Convertible Notes (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Contractual interest expense $ 964 $ 2,746 $ 5,777 $ 14,963 Amortization of discount and deferred issuance costs 185 466 1,128 1,395 Total interest expense related to 1.75% Convertible Notes $ 1,149 $ 3,212 $ 6,905 $ 16,358 3.625% Convertible Notes On July 16, 2024, the Company issued $263.1 million in aggregate principal amount of new 3.625% Convertible Notes due 2028 (the “3.625% Convertible Notes”) and paid an aggregate of approximately $135.0 million in cash in exchange for approximately $400.9 million in aggregate principal amount of the Company’s 1.75% Convertible Notes (collectively, the “Exchange Transaction”) pursuant to separate, privately negotiated exchange agreements with certain holders of the 1.75% Convertible Notes. The Exchange Transaction was accounted for as a debt modification, and accordingly, no gain or loss was recognized. In connection with the Exchange Transaction, the Company recognized an increase in the fair value of the conversion feature of the 3.625% Convertible Notes compared to the fair value of the conversion feature of the 1.75% Convertible Notes of $4.0 million, partially offset by an increase to deferred tax liabilities of $1.0 million, which is included in ‘Additional paid-in capital’ on the Condensed Consolidated Balance Sheets, and a corresponding reduction to the carrying value of the 3.625% Convertible Notes. The discount and deferred issuance costs are being amortized, at an effective interest rate of 4.2%, to interest expense through the maturity date. The 3.625% Convertible Notes bear interest at a rate of 3.625% per annum on the principal amount thereof, payable semi-annually in arrears on September 1 and March 1 of each year, beginning on March 1, 2025, to the noteholders of record of the 3.625% Convertible Notes as of the close of business on the immediately preceding August 15 and February 15, respectively. The 3.625% Convertible Notes will mature on March 1, 2028, unless earlier converted or repurchased. The 3.625% Convertible Notes can be settled in cash, the Company’s common stock, or a combination of cash and the Company’s common stock, at $0.01 par value per share, at the Company’s election. Holders may surrender their 3.625% Convertible Notes for conversion at any time prior to the close of business on the business day immediately preceding December 1, 2027 only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on September 30, 2024 (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 calendar quarter is greater than or equal to 130% of the applicable conversion price of the 3.625% 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 3.625% 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 December 1, 2027, 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, at an initial conversion rate of 10 shares of the Company’s common stock per $1,000 principal amount of 3.625% Convertible Notes. The Company will settle conversions of the 3.625% 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. 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, 2024, the market trigger conditions did not meet the conversion requirements of the 3.625% Convertible Notes and, accordingly, the 3.625% Convertible Notes are classified as long-term debt on our Condensed Consolidated Balance Sheets. As of September 30, 2024, the conversion rate of the 3.625% Convertible Notes is 10 shares per $1,000 principal amount of the 3.625% Convertible Notes (or 2,631,470 shares), which represents an initial conversion price of $100 per share. The conversion rate is subject to adjustment upon the occurrence of certain specified events as set forth in the indenture governing the 3.625% Convertible Notes, but will not be adjusted for accrued and unpaid interest. In addition, upon the occurrence of a “Make-Whole Fundamental Change”, as defined in the 3.625% Convertible Note Indenture, the Company will in certain circumstances increase the conversion rate for a holder that elects to convert its 3.625% Convertible Notes in connection with such a corporate event. The Company may not redeem the 3.625% Convertible Notes prior to the maturity date, and no sinking fund is provided for the 3.625% Convertible Notes. The 3.625% 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 3.625% 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 the components of interest expense related to the 3.625% Convertible Notes (in thousands): Three months ended September 30, 2024 Coupon interest expense $ 1,987 Amortization of discount and debt issuance costs 258 Total interest expense related to 3.625% Convertible Notes $ 2,245 Credit Agreement On April 7, 2021, the Company entered into a $100.0 million credit agreement (as amended, the “Credit Agreement”). On June 18, 2024, the Company entered into a New Lender Joinder Agreement and Eighth Amendment (the “Joinder and Amendment”) to the Credit Agreement. The Joinder and Amendment provides for, among other things, (i) an increase in the Aggregate Revolving Loan Commitment by an aggregate principal amount of $250.0 million for a total of $350.0 million, (ii) an extension of the scheduled maturity date from April 7, 2026 to the earlier of (x) June 18, 2027 or (y) under certain limited circumstances, August 2, 2026, (iii) a “credit spread adjustment” for SOFR-based borrowings of 0.10% across all interest periods, (iv) the inclusion of limited conditionality borrowing mechanics with respect to certain borrowings and (v) certain other related amendments. 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 Term SOFR (as defined in the Credit Agreement) plus a credit spread adjustment plus 1.00% or (ii) a rate per annum equal to Term SOFR plus a credit spread adjustment, 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 Term SOFR loan will range from 1.50% to 2.25%, in each case, depending on the total leverage ratio of the Company, plus a credit spread adjustment equal to 0.10%. 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, 2024, there were no amounts outstanding under the Credit Agreement. As of each September 30, 2024 and December 31, 2023, net availability under the Credit Agreement was $350.0 million. 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 certain 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, 2024.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments In the ordinary course of business, the Company enters into commitments including those related to cloud computing, information technology, security, and information and document management. The Company also has revenue sharing arrangements with annual minimum guarantees based upon third-party website advertising metrics and other contractual provisions. 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. The Company does not believe, based on current knowledge, that any such legal proceedings or claims, including those set forth below, 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. Although the Company cannot predict the outcome of legal or other proceedings with certainty, where there is at least a reasonable possibility that a loss may have been incurred, GAAP requires us to disclose an estimate of the reasonably possible loss or range of loss or make a statement that such an estimate cannot be made. The Company follows a thorough process in which it seeks to estimate the reasonably possible loss or range of loss, and only if it is unable to make such an estimate does it conclude and disclose that an estimate cannot be made. Accordingly, unless otherwise indicated below in our discussion of litigation, a reasonably possible loss or range of loss associated with any individual legal proceeding cannot be estimated. 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 appealed the dismissal. On April 19, 2024, the Ninth Circuit Court of Appeals affirmed the dismissal. 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. On June 4, 2024, the plaintiffs in the consolidated case dismissed their claims without prejudice. 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 $26.9 million and $28.1 million as of September 30, 2024 and December 31, 2023, respectively, which are included in ‘Accounts payable’ and ‘Other long-term liabilities’ on the 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, however, as of September 30, 2024 any potential range of loss is not estimable.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
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 (34.9)% and (20.7)% for the three months ended September 30, 2024 and 2023, respectively, and 149.0% and (1,040.8)% for the nine months ended September 30, 2024 and 2023, respectively. The Company’s effective tax rate for the three and nine months ended September 30, 2024 was disproportionately impacted by the goodwill impairment of $85.3 million related to the reassessment of the fair value of certain reporting units within the Digital Media reportable segment, for which no corresponding tax benefit was recorded since it entirely related to the excess financial statement goodwill with no tax basis. Additionally, during the nine months ended September 30, 2024, the Company recognized a net valuation allowance against a portion of its U. S. capital loss carryforwards, which resulted in a discrete tax charge of $2.5 million. 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 related to the reassessment of the fair value of one of the reporting units within the Digital Media reportable segment, for which no corresponding tax benefit was recorded since it entirely related to excess financial statement goodwill with no tax basis. As of September 30, 2024 and December 31, 2023, the Company had $37.0 million and $36.1 million, respectively, in liabilities for uncertain income tax positions included in ‘Other long-term liabilities’ on the Condensed Consolidated Balance Sheets. Accrued interest and penalties related to unrecognized tax benefits associated with uncertain tax positions are recognized in income tax expense in our Condensed Consolidated Statements of Operations.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity On August 6, 2020, the Company’s Board of Directors (the “Board”) approved a program authorizing the repurchase of up to ten million shares of the Company’s 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. On August 2, 2024, the Board authorized (i) an increase in its 2020 Program pursuant to which the Company may purchase up to an additional five million shares of the Company’s common stock (the “Additional Authorization”) and (ii) an extension of the expiration date of the share repurchase program from August 6, 2025 to August 2, 2029. As a result of the Additional Authorization, the aggregate number of shares of the Company’s common stock authorized for repurchase under the 2020 Program increased to up to 15 million shares of the Company’s common stock. During the three and nine months ended September 30, 2024, the Company repurchased 2,000,000 and 3,500,000 shares, respectively under the 2020 Program at an aggregate cost of approximately $96.9 million and $181.8 million, respectively, including excise tax. During the three and nine months ended September 30, 2023, the Company repurchased 605,428 and 1,585,846 shares, respectively under the 2020 Program at an aggregate cost of approximately $41.0 million and $104.9 million, respectively, including excise tax. Cumulatively as of September 30, 2024, 8,758,692 shares were repurchased under the 2020 Program, at an aggregate cost of $583.6 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, 2024 was 6,241,308 shares. Periodically, participants in the Company’s share-based compensation 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 and restricted stock units. During the three months ended September 30, 2024 and 2023, the Company purchased and retired 2,464 and 9,479 shares, respectively, at an aggregate cost of approximately $0.1 million and $0.2 million, respectively, from plan participants for this purpose. During the nine months ended September 30, 2024 and 2023, the Company purchased and retired 62,054 and 51,354 shares, respectively, at an aggregate cost of approximately $4.1 million and $3.5 million, respectively, from plan participants for this purpose.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company’s share-based compensation plans include the Ziff Davis, Inc. 2024 Equity Incentive Plan (the “2024 Plan”), the 2015 Stock Option Plan (the “2015 Plan”), and 2001 Employee Stock Purchase Plan (the “Purchase Plan”). Each plan is described below. On May 7, 2024, the 2024 Plan was approved by the stockholders of the Company and replaced the 2015 Stock Option Plan. The 2024 Plan permits the Company to issue shares of common stock to or for the benefit of employees, consultants, and non-employee directors of the Company and its subsidiaries as part of their compensation. The 2024 Plan provides for the grant of stock options, restricted stock, stock appreciation rights, restricted stock units, performance-based awards, and other incentive awards. Shares authorized but unissued under the 2015 Plan that were not subject to outstanding awards under the 2015 Plan as of May 7, 2024 were canceled. The total number of shares of the Company’s common stock that may be issued under the 2024 Plan shall not exceed 3,500,000 shares, plus any Returned Shares, as defined in the 2024 Plan, under the 2015 Plan and any shares under the 2024 Plan that are subsequently forfeited, canceled, reacquired by the Company, satisfied or are otherwise terminated (other than by exercise) or used to pay tax withholding obligations with respect to outstanding awards issued under the 2024 Plan. The 2024 Plan will expire on March 21, 2034, unless earlier terminated by the Board. Awards outstanding under the 2015 Plan were not impacted by the approval of the 2024 Plan. Collectively, the 2015 Plan and 2024 Plan are referred to herein as “Plans.” As of September 30, 2024, 435,135 shares underlying options and 694,769 shares of restricted stock units were outstanding under the Plans. As of September 30, 2024, there were 3,582,306 additional shares underlying options, shares of restricted stock and other share-based awards available for grant under the 2024 Plan. Share-Based Compensation Expense The following table presents share-based compensation expense recorded in the Condensed Consolidated Statements of Operations during the periods presented (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Direct costs $ 68 $ 76 $ 191 $ 246 Sales and marketing 1,014 323 2,865 2,285 Research, development, and engineering 769 840 2,930 2,581 General, administrative, and other related costs 8,310 5,535 24,647 19,281 Total share-based compensation expense $ 10,161 $ 6,774 $ 30,633 $ 24,393 Restricted Stock and Restricted Stock Units The Company has awarded restricted stock and restricted stock units to its Board and senior staff pursuant to the 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, generally three three The Company has awarded certain key employees market-based restricted stock (“PSAs”) and market-based restricted stock units (“PSUs”) pursuant to the Plans. Market-based awards granted prior to 2024 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 look back (trading days). During the nine months ended September 30, 2023, the Company awarded 167,606 PSUs at stock price targets ranging from $83.61 to $103.76 per share. During the nine months ended September 30, 2024, the Company awarded 308,970 equity classified PSUs that vest in shares of the Company’s stock ranging from 0% to 200% of the award based on the Company’s attainment of a relative Total Shareholder Return (“TSR”) target compared to the TSR of all listed companies in a market index over the respective one, two, and three-year performance periods. 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 and all listed companies in a market index achieving the relative TSR targets. Share-based compensation expense related to an award with a market condition is 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. The per share weighted average grant-date fair value for the PSUs granted during the nine months ended September 30, 2024 and 2023 were $87.17 and $70.07, respectively. The assumptions used in determining the weighted-average fair values of PSUs granted during the periods presented are as follows: Nine months ended September 30, 2024 2023 Underlying stock price at valuation date $ 66.88 $ 77.80 Expected volatility 32.9 % 32.0 % Risk-free interest rate 4.3 % 4.1 % Restricted stock award (“RSA”) and PSA activity for the nine months ended September 30, 2024 is set forth below: RSAs PSAs Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2024 95,718 $ 70.17 163,181 $ 36.27 Granted — $ — — $ — Vested (41,170) 71.73 — — Forfeited (154) 77.75 — — Nonvested at September 30, 2024 54,394 $ 68.97 163,181 $ 36.27 Restricted stock unit activity for the nine months ended September 30, 2024 is set forth below: RSUs PSUs Number of Weighted Average Grant Date Fair Value Number of Shares (1) Weighted Average Grant Date Fair Value Outstanding at January 1, 2024 506,425 $ 88.36 270,772 $ 77.09 Granted 394,994 65.24 308,970 87.17 Vested (132,003) 83.91 — — Forfeited (74,647) 75.63 (47,015) 79.49 Outstanding at September 30, 2024 694,769 $ 77.40 532,727 $ 82.71 (1) Represents the number of shares at 100% achievement.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 Basic Diluted Basic Diluted Numerator for basic and diluted net loss per common share: Net loss $ (48,577) $ (48,577) $ (30,971) $ (30,971) Plus: Convertible Notes interest expense (after-tax) — — — — Net income available to the Company’s common shareholders $ (48,577) $ (48,577) $ (30,971) $ (30,971) Denominator: Basic weighted-average outstanding shares of common stock 43,924,158 43,924,158 46,062,097 46,062,097 Dilutive effect of: Equity incentive plans — — — — Convertible debt — — — — Diluted weighted-average outstanding shares of common stock 43,924,158 43,924,158 46,062,097 46,062,097 Net loss per share $ (1.11) $ (1.11) $ (0.67) $ (0.67) Nine months ended September 30, 2024 2023 Basic Diluted Basic Diluted Numerator for basic and diluted net loss per common share: Net loss $ (1,040) $ (1,040) $ (21,919) $ (21,919) Plus: Convertible Notes interest expense (after-tax) — — — — Net income available to the Company’s common shareholders $ (1,040) $ (1,040) $ (21,919) $ (21,919) Denominator: Basic weighted-average outstanding shares of common stock 45,088,272 45,088,272 46,612,660 46,612,660 Dilutive effect of: Equity incentive plans — — — — Convertible debt — — — — Diluted weighted-average outstanding shares of common stock 45,088,272 45,088,272 46,612,660 46,612,660 Net loss per share $ (0.02) $ (0.02) $ (0.47) $ (0.47) For the three and nine months ended September 30, 2024 and 2023, there were 1,879,840 and 1,512,611 shares, respectively, of stock options and restricted stock excluded from the calculation of diluted shares as they were anti-dilutive due to the net loss during the 2024 and 2023 periods. For the three months ended September 30, 2024 and 2023, 4,213,808 and 5,158,071 shares, respectively, related to convertible debt were excluded from diluted shares because they were anti-dilutive under the if-converted method for the diluted net income per share calculation of the convertible debt instrument. For the nine months ended September 30, 2024 and 2023, 5,406,679 and 5,158,071 shares, respectively, related to convertible debt were excluded from diluted shares because they were anti-dilutive under the if-converted method for the diluted net income per share calculation of convertible debt instruments.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
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 February 26, 2024. 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, 2024 2023 2024 2023 Revenue by reportable segment: Digital Media $ 283,567 $ 267,951 $ 774,436 $ 755,032 Cybersecurity and Martech 70,039 73,051 214,475 219,263 Elimination of inter-segment revenues (1) (26) (17) (46) (152) Total segment revenues 353,580 340,985 988,865 974,143 Corporate — — — — Total revenues $ 353,580 $ 340,985 $ 988,865 $ 974,143 Operating costs and expenses by reportable segment (2) : Digital Media 308,309 280,856 732,554 702,752 Cybersecurity and Martech 55,158 60,541 168,638 181,633 Elimination of inter-segment operating expenses (26) (17) (46) (152) Total segment operating expenses 363,441 341,380 901,146 884,233 Corporate (3) 19,443 12,924 52,593 38,019 Total operating costs and expenses 382,884 354,304 953,739 922,252 Operating income (loss) by reportable segment: Digital Media operating (loss) income (24,742) (12,905) 41,882 52,280 Cybersecurity and Martech operating income 14,881 12,510 45,837 37,630 Total segment operating (loss) income (9,861) (395) 87,719 89,910 Corporate (3) (19,443) (12,924) (52,593) (38,019) (Loss) income from operations $ (29,304) $ (13,319) $ 35,126 $ 51,891 (1) Inter-segment revenues relate primarily to the Digital Media reportable segment. (2) Operating expenses for each segment include direct costs and other operating expenses that are directly attributable to the segment, such as employee compensation expense, 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, 2024 and 2023, the Company had an impairment to goodwill within operating costs and expenses for Digital Media. (3)

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 Non-cash investing activity: Property and equipment, accrued but unpaid $ — $ 373 Right-of-use assets acquired in exchange for operating lease obligations $ 1,035 $ 1,282 Purchase of equity investments with common stock $ — $ 13,500 Non-cash financing activity: Increase in fair value of conversion feature on 3.625% Convertible Notes $ 4,001 $ — Excise tax on share repurchases $ 1,797 $ 1,038 Supplemental data (in thousands): Nine months ended September 30, 2024 2023 Interest paid $ 16,912 $ 22,395 Income taxes paid, net of refunds $ 49,660 $ 47,001

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated other comprehensive (loss) income, net of tax, for the three months ended September 30, 2024 (in thousands): Unrealized Gains on Investments Foreign Currency Translation Total Balance as of July 1, 2024 $ 815 $ (79,150) $ (78,335) Other comprehensive income (loss), net of tax 352 14,514 14,866 Balance as of September 30, 2024 $ 1,167 $ (64,636) $ (63,469) The following table summarizes the changes in accumulated other comprehensive loss (income), net of tax, for the nine months ended September 30, 2024 (in thousands): Unrealized Gains on Investments Foreign Currency Translation Total Balance as of January 1, 2024 $ 537 $ (72,157) $ (71,620) Other comprehensive income (loss), net of tax 630 7,521 8,151 Balance as of September 30, 2024 $ 1,167 $ (64,636) $ (63,469) There were no reclassifications out of accumulated other comprehensive loss for the three and nine months ended September 30, 2024 and 2023, respectively.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (48,577)	$ (30,971)	$ (1,040)	$ (21,919)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
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, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently issued applicable accounting pronouncements not yet adopted 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 costs 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 do not anticipate that adoption of this standard will have a material impact on our consolidated financial statements and related disclosures. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative . The amendments in this update modify the disclosure or presentation requirements of a variety of Topics in the Codification. Certain of the amendments represent clarifications to or technical corrections of the current requirements. For entities subject to the SEC's existing disclosure requirements and entities required to file/furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for which each amendment will be the date on the SEC's removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. For all other entities, amendments will be effective two years later. We are currently evaluating the impact the adoption of this update will have on our consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which provides for enhanced disclosures about significant segment expenses. This update enhances interim disclosure requirements, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, provides new segment disclosure requirements for entities with a single reportable segment, and contains other disclosure requirements. The purpose of this update is to enable investors to better understand an entity’s overall performance and assess potential future cash flows. The update is required to be applied retrospectively to prior periods presented, based on the significant segment expense categories identified and disclosed in the period of adoption. The amendments in this update are required to be adopted for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. This update will likely result in us including the additional required disclosures when adopted. We are currently evaluating the impact of adoption of this update will have on our consolidated financial statements and related disclosures and expect to adopt them for the year ended December 31, 2024. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments in the update require public business entities on an annual basis to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. This update also requires that entities disclose on an annual basis information about the amount of income taxes paid disaggregated by federal, state, and foreign taxes and the amount of income taxes paid disaggregated by individual jurisdictions in which income taxes paid is equal to or greater than a quantitative threshold. The amendments in this update are required to be adopted for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the effect the adoption of this update will have on our consolidated financial statements and related disclosures.
Revenue Recognition	Digital Media revenues are earned primarily from the delivery of advertising and performance marketing services, licensing, and subscriptions to services and information. Advertising and Performance Marketing Revenues from the delivery of advertising services are 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. The Digital Media business also generates revenues from marketing, performance marketing, production services, and the management of client gift card programs. Such revenues are generally recognized over the period in which the products or services are delivered. Subscription and Licensing Revenues from subscriptions are 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 are also earned from listing fees, subscriptions to online publications, and from other sources. Subscription revenues are primarily recognized over the contract term. Revenues related to the provision of access to historical data for certain services are recorded at the time of delivery. The Digital Media business also generates 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 that represent symbolic intellectual property, as defined in ASC 606, Revenue from Contracts with Customers . Revenues under such license agreements are generally recognized over the contract term. In instances when technology assets in the form of functional intellectual property are licensed to our clients, revenues from the license of these assets are recognized at a point in time. Digital Media subscription and licensing revenues also include revenues from transactions involving the sale of perpetual software licenses, related software support, and maintenance. 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 for download and use. Revenues from related software support and maintenance are generally recognized ratably over the contractual period, because technical support, unspecified software product upgrades, maintenance releases, and patches are provided to customers on an as needed basis, and are available during the term of the support period. We are obligated to make the support services available continuously throughout the contract period. Other Other revenues primarily include those from the sale of hardware used in conjunction with software described above, online course revenue, and game publishing revenue. 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. Cybersecurity and Martech The Company’s Cybersecurity and Martech revenues consist of subscription and licensing revenues which primarily 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. Principal vs. Agent The Company determines whether revenue should be reported on a gross or net basis by assessing whether the Company is acting as the principal or an agent in the transaction, respectively. 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, including the resale of various third-party solutions, primarily through its email security line of business. 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. 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 platforms, primarily related to the transfer of functional intellectual property. The Company records revenue on a net basis with respect to revenue earned from servicing the client gift card programs. Performance Obligations The Company may be a party to multiple concurrent contracts with the same customers, or a party or parties related to those customers. Some of these situations may require judgment to determine if those arrangements should be accounted for as a single contract. Consideration of both the form and the substance of the arrangement is required. The Company’s contracts with customers may include multiple performance obligations, including contracts when advertising and licensing services are sold together. The Company determines the transaction price based on the amount to which the Company expects to be entitled in exchange for services provided. The Company includes any fixed consideration within its contracts as part of the total transaction price. The Company’s contracts occasionally contain some component of variable consideration, such as commissions that are recognized in the period of the commissionable event. The Company does not include in the transaction price taxes assessed by a governmental authority that are (i) both imposed on and concurrent with a specific revenue-producing transaction and (ii) collected by us from the customer. Due to the nature of the services provided, there are no obligations for returns. The Company satisfies its performance obligations upon delivery of services to its customers. Within the Digital Media business, the Company provides content to its advertising partners which the Company sells to its partners’ customer base and receives a revenue share based on the terms of the agreement. Payment terms vary by type and location of our customers and the services offered. The time between invoicing and when payment is due is generally not significant. Our Digital Media business consists primarily of performance obligations that are satisfied over time. This was determined based on a review of the contracts and the nature of the services offered, where the customer simultaneously receives and consumes the benefit of the services provided. Revenue is recognized based on delivery of services over the contract period for advertising and on a straight-line basis or units of output basis over the contract period for subscriptions. The Company believes that the methods described are a faithful depiction of the transfer of goods and services. The Digital Media business also has licensing arrangements that have standalone functionality. As a result, the performance obligations are satisfied at a point in time. Our Cybersecurity and Martech business consists primarily of performance obligations that are satisfied over time. This has been determined based on the fact that the nature of services offered are subscription-based where the customer simultaneously receives and consumes the benefit of the services provided regardless of whether the customer uses the services. Depending on the individual contracts with the customer, revenue for these services is recognized over the contract period when any of the following materially distinct performance obligations are satisfied: • Voice, email marketing, and search engine optimization as services are delivered. • Consumer privacy services and data backup capabilities are provided. • Security solutions, including email and endpoint are provided. The Company has concluded the best measure of progress toward the complete satisfaction of the performance obligation is a time-based measure. The Company recognizes revenue on a straight-line basis throughout the subscription period, or as usage occurs, or when functional intellectual property is delivered for services outside of the subscription, and believes that the method used is a faithful depiction of the transfer of goods and services.
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 fair value of the Company’s investment in Consensus common stock was determined using quoted market prices, which is a Level 1 input. On May 22, 2024, the Company sold its remaining investment in Consensus common stock (see Note 4 - Investments ). The Company has investment in a corporate debt security that does not have a readily determinable fair value because the acquired securities are privately held, not traded on any public exchanges and not an investment in a mutual fund or similar investment. The investment in corporate debt securities is classified as available-for-sale and is initially measured at its transaction price. The fair value of the corporate debt securities is determined primarily based on estimates and assumptions, including Level 3 inputs. As of September 30, 2024 and December 31, 2023, the fair value was determined based upon various probability-weighted scenarios which included discount rate assumptions between 13% and 15%, depending on the probability scenario. In addition, the determination of fair value included a conversion timeframe of approximately 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 any of the inputs in isolation could result in a significantly lower or higher fair value measurement. As of September 30, 2024 and December 31, 2023, the contingent consideration was determined using a 100% probability of payout at the maximum amount, without any other estimates applied.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 2024 2023 Digital Media Advertising and performance marketing $ 193,626 $ 183,008 $ 520,063 $ 514,173 Subscription and licensing 77,450 71,858 223,681 209,167 Other 12,491 13,085 30,692 31,692 Total Digital Media revenues $ 283,567 $ 267,951 $ 774,436 $ 755,032 Cybersecurity and Martech Subscription and licensing $ 70,039 $ 73,051 $ 214,475 $ 219,263 Total Cybersecurity and Martech revenues $ 70,039 $ 73,051 $ 214,475 $ 219,263 Elimination of inter-segment revenues (26) (17) (46) (152) Total Revenues $ 353,580 $ 340,985 $ 988,865 $ 974,143

Business Acquisitions (Tables)

Business Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Summary of Preliminary Purchase Consideration	The following table summarizes the allocation of the preliminary purchase consideration for the acquisition of TDS and CNET as of September 30, 2024 (in thousands): Valuation Assets and Liabilities TDS (1) CNET Cash $ 142,957 $ — Accounts receivable and other current assets (2) 171,290 21,930 Intangible assets 108,924 111,650 Goodwill (2) 80,835 24,930 Deferred tax asset, noncurrent (3) — 7,355 Other assets 289 655 Accounts payable and other current liabilities (290,266) (3,841) Deferred tax liability, noncurrent (25,580) — Deferred revenue, noncurrent — (7,958) Other noncurrent liabilities (861) — Total $ 187,588 $ 154,721 (1) During the three months ended September 30, 2024, we recorded a measurement period adjustment increasing goodwill by $0.3 million with a corresponding adjustment to current assets. (2) The fair value of the assets acquired includes accounts receivable of $170.7 million for TDS and $21.2 million related to CNET, of which none is expected to be uncollectible. None of the goodwill recognized is expected to be deductible for income tax purposes. (3) Deferred tax asset balance for CNET is presented within ‘Deferred income taxes’ on the Condensed Consolidated Balance Sheets.
Summary of Intangible Assets	The preliminary amounts assigned to intangible assets by type for all acquisitions during the nine months ended September 30, 2024 are summarized in the table below (in thousands): Gross Carrying Value Weighted Average Estimated Life Customer relationships $ 152,595 10 years Trade names and trademarks 27,027 9 years Other purchased intangibles 46,703 5 years Total gross carrying value $ 226,325
Schedule of Pro Forma SuppIemental Information	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. Three months ended September 30, Nine months ended September 30, (in thousands, except per share data) 2024 2023 2024 2023 (unaudited) (unaudited) (unaudited) (unaudited) Revenues $ 370,719 $ 378,343 $ 1,050,666 $ 1,075,400 Net loss $ (51,585) $ (34,772) $ (15,451) $ (46,950) Loss per common share - Basic $ (1.17) $ (0.75) $ (0.34) $ (1.01) Loss per common share - Diluted $ (1.17) $ (0.75) $ (0.34) $ (1.01)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 Level 1 Level 2 Level 3 Fair Value Carrying Value Assets: Cash equivalents: Money market and other funds $ 49,568 $ — $ — $ 49,568 $ 49,568 Long-term investments: Investment in corporate debt securities — — 16,529 16,529 16,529 Total assets measured at fair value $ 49,568 $ — $ 16,529 $ 66,097 $ 66,097 Liabilities: Contingent consideration $ — $ — $ 2,834 $ 2,834 $ 2,834 Total liabilities measured at fair value $ — $ — $ 2,834 $ 2,834 $ 2,834 December 31, 2023 Level 1 Level 2 Level 3 Fair Value Carrying Value Assets: Cash equivalents: Money market and other funds $ 340,928 $ — $ — $ 340,928 $ 340,928 Short-term investments: Consensus common stock 27,109 — — 27,109 27,109 Long-term investments: Investment in corporate debt securities — — 15,699 15,699 15,699 Total assets measured at fair value $ 368,037 $ — $ 15,699 $ 383,736 $ 383,736 Liabilities: Contingent consideration $ — $ — $ 2,834 $ 2,834 $ 2,834 Total liabilities measured at fair value $ — $ — $ 2,834 $ 2,834 $ 2,834
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents a reconciliation of the Company’s Level 3 financial assets and liabilities 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, 2024 2023 Contingent Consideration Arrangements Corporate Debt Securities Contingent Consideration Arrangements Corporate Debt Securities Balance as of January 1 $ 2,834 $ 15,699 $ 555 $ 15,586 Fair value at date of acquisition — — 2,834 — Fair value adjustments (1) — 830 — (117) Balance as of September 30 $ 2,834 $ 16,529 $ 3,389 $ 15,469 (1)
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 (in thousands): September 30, 2024 December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value 4.625% Senior Notes $ 457,106 $ 432,785 $ 456,796 $ 405,408 1.75% Convertible Notes (1) $ 148,062 $ 138,850 $ 544,516 $ 519,492 3.625% Convertible Notes (2) $ 258,573 $ 251,484 $ — $ — (1) On July 16, 2024, the Company exchanged approximately $400.9 million in aggregate principal amount of the Company’s 1.75% Convertible Notes as part of the Exchange Transaction. The Company issued $263.1 million in aggregate principal amount of new 3.625% Convertible Notes, as defined in Note 7 — Debt, and paid an aggregate of approximately $135.0 million in cash. Refer to Note 7 — Debt for additional information.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 are as follows (in thousands): Digital Media Cybersecurity and Martech Consolidated Balance as of January 1, 2024 $ 1,016,880 $ 529,185 $ 1,546,065 Goodwill acquired (1) 112,534 — 112,534 Goodwill removed due to sale of businesses (2) (3,983) — (3,983) Goodwill impairment (85,273) — (85,273) Foreign exchange translation 1,180 2,331 3,511 Balance as of September 30, 2024 $ 1,041,338 $ 531,516 $ 1,572,854 (1) Goodwill recognized in connection with the acquisitions during the nine months ended September 30, 2024 (see Note 3 Business Acquisitions ), which is not expected to be deductible for income tax purposes . (2) During the nine months ended September 30, 2024, in a cash transaction, the Company sold an international business at Digital Media within its shopping vertical, which resulted in $4.0 million of goodwill being removed in connection with this sale.
Intangible Assets Subject to Amortization	As of September 30, 2024, intangible assets subject to amortization relate primarily to the following (in thousands): Historical Accumulated Net Trade names and trademarks $ 375,332 $ 214,695 $ 160,637 Customer relationships 847,121 603,979 243,142 Other purchased intangibles 427,589 360,594 66,995 Total $ 1,650,042 $ 1,179,268 $ 470,774 As of December 31, 2023, intangible assets subject to amortization relate primarily to the following (in thousands): Historical Accumulated Net Trade names and trademarks $ 347,895 $ 192,111 $ 155,784 Customer relationships 692,634 555,384 137,250 Other purchased intangibles 379,703 347,331 32,372 Total $ 1,420,232 $ 1,094,826 $ 325,406

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands): September 30, 2024 December 31, 2023 4.625% Senior Notes $ 460,038 $ 460,038 1.75% Convertible Notes 149,109 550,000 3.625% Convertible Notes 263,147 — Total Notes 872,294 1,010,038 Credit Agreement — — Less: Unamortized discount (6,015) (2,463) Deferred issuance costs (1) (2,538) (6,263) Total long-term debt $ 863,741 $ 1,001,312 (1) Includes $0.7 million and $0.8 million of carrying amount of deferred issuance costs on the 4.625% Senior Notes as of September 30, 2024 and December 31, 2023, respectively, $1.0 million and $5.5 million of carrying amount of deferred issuance costs on the 1.75% Convertible Notes as of September 30, 2024 and December 31, 2023, respectively, and $0.8 million of carrying amount of deferred issuance costs on the 3.625% Convertible Notes as of September 30, 2024.
Schedule of Debt	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, 2024 2023 2024 2023 Contractual interest expense $ 964 $ 2,746 $ 5,777 $ 14,963 Amortization of discount and deferred issuance costs 185 466 1,128 1,395 Total interest expense related to 1.75% Convertible Notes $ 1,149 $ 3,212 $ 6,905 $ 16,358 The following table provides the components of interest expense related to the 3.625% Convertible Notes (in thousands): Three months ended September 30, 2024 Coupon interest expense $ 1,987 Amortization of discount and debt issuance costs 258 Total interest expense related to 3.625% Convertible Notes $ 2,245

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award	The following table presents share-based compensation expense recorded in the Condensed Consolidated Statements of Operations during the periods presented (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Direct costs $ 68 $ 76 $ 191 $ 246 Sales and marketing 1,014 323 2,865 2,285 Research, development, and engineering 769 840 2,930 2,581 General, administrative, and other related costs 8,310 5,535 24,647 19,281 Total share-based compensation expense $ 10,161 $ 6,774 $ 30,633 $ 24,393
Market-Based Restricted Stock Awards, Valuation Assumptions	The assumptions used in determining the weighted-average fair values of PSUs granted during the periods presented are as follows: Nine months ended September 30, 2024 2023 Underlying stock price at valuation date $ 66.88 $ 77.80 Expected volatility 32.9 % 32.0 % Risk-free interest rate 4.3 % 4.1 %
Restricted Stock and Restricted Stock Unit Award Activity	Restricted stock award (“RSA”) and PSA activity for the nine months ended September 30, 2024 is set forth below: RSAs PSAs Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2024 95,718 $ 70.17 163,181 $ 36.27 Granted — $ — — $ — Vested (41,170) 71.73 — — Forfeited (154) 77.75 — — Nonvested at September 30, 2024 54,394 $ 68.97 163,181 $ 36.27 Restricted stock unit activity for the nine months ended September 30, 2024 is set forth below: RSUs PSUs Number of Weighted Average Grant Date Fair Value Number of Shares (1) Weighted Average Grant Date Fair Value Outstanding at January 1, 2024 506,425 $ 88.36 270,772 $ 77.09 Granted 394,994 65.24 308,970 87.17 Vested (132,003) 83.91 — — Forfeited (74,647) 75.63 (47,015) 79.49 Outstanding at September 30, 2024 694,769 $ 77.40 532,727 $ 82.71 (1) Represents the number of shares at 100% achievement.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 Basic Diluted Basic Diluted Numerator for basic and diluted net loss per common share: Net loss $ (48,577) $ (48,577) $ (30,971) $ (30,971) Plus: Convertible Notes interest expense (after-tax) — — — — Net income available to the Company’s common shareholders $ (48,577) $ (48,577) $ (30,971) $ (30,971) Denominator: Basic weighted-average outstanding shares of common stock 43,924,158 43,924,158 46,062,097 46,062,097 Dilutive effect of: Equity incentive plans — — — — Convertible debt — — — — Diluted weighted-average outstanding shares of common stock 43,924,158 43,924,158 46,062,097 46,062,097 Net loss per share $ (1.11) $ (1.11) $ (0.67) $ (0.67) Nine months ended September 30, 2024 2023 Basic Diluted Basic Diluted Numerator for basic and diluted net loss per common share: Net loss $ (1,040) $ (1,040) $ (21,919) $ (21,919) Plus: Convertible Notes interest expense (after-tax) — — — — Net income available to the Company’s common shareholders $ (1,040) $ (1,040) $ (21,919) $ (21,919) Denominator: Basic weighted-average outstanding shares of common stock 45,088,272 45,088,272 46,612,660 46,612,660 Dilutive effect of: Equity incentive plans — — — — Convertible debt — — — — Diluted weighted-average outstanding shares of common stock 45,088,272 45,088,272 46,612,660 46,612,660 Net loss per share $ (0.02) $ (0.02) $ (0.47) $ (0.47)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 2024 2023 Revenue by reportable segment: Digital Media $ 283,567 $ 267,951 $ 774,436 $ 755,032 Cybersecurity and Martech 70,039 73,051 214,475 219,263 Elimination of inter-segment revenues (1) (26) (17) (46) (152) Total segment revenues 353,580 340,985 988,865 974,143 Corporate — — — — Total revenues $ 353,580 $ 340,985 $ 988,865 $ 974,143 Operating costs and expenses by reportable segment (2) : Digital Media 308,309 280,856 732,554 702,752 Cybersecurity and Martech 55,158 60,541 168,638 181,633 Elimination of inter-segment operating expenses (26) (17) (46) (152) Total segment operating expenses 363,441 341,380 901,146 884,233 Corporate (3) 19,443 12,924 52,593 38,019 Total operating costs and expenses 382,884 354,304 953,739 922,252 Operating income (loss) by reportable segment: Digital Media operating (loss) income (24,742) (12,905) 41,882 52,280 Cybersecurity and Martech operating income 14,881 12,510 45,837 37,630 Total segment operating (loss) income (9,861) (395) 87,719 89,910 Corporate (3) (19,443) (12,924) (52,593) (38,019) (Loss) income from operations $ (29,304) $ (13,319) $ 35,126 $ 51,891 (1) Inter-segment revenues relate primarily to the Digital Media reportable segment. (2) Operating expenses for each segment include direct costs and other operating expenses that are directly attributable to the segment, such as employee compensation expense, 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, 2024 and 2023, the Company had an impairment to goodwill within operating costs and expenses for Digital Media. (3)

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 2023 Non-cash investing activity: Property and equipment, accrued but unpaid $ — $ 373 Right-of-use assets acquired in exchange for operating lease obligations $ 1,035 $ 1,282 Purchase of equity investments with common stock $ — $ 13,500 Non-cash financing activity: Increase in fair value of conversion feature on 3.625% Convertible Notes $ 4,001 $ — Excise tax on share repurchases $ 1,797 $ 1,038
Other Supplemental Data	Supplemental data (in thousands): Nine months ended September 30, 2024 2023 Interest paid $ 16,912 $ 22,395 Income taxes paid, net of refunds $ 49,660 $ 47,001

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Summary of Changes in Accumulated Other Comprehensive (Loss) Income	The following table summarizes the changes in accumulated other comprehensive (loss) income, net of tax, for the three months ended September 30, 2024 (in thousands): Unrealized Gains on Investments Foreign Currency Translation Total Balance as of July 1, 2024 $ 815 $ (79,150) $ (78,335) Other comprehensive income (loss), net of tax 352 14,514 14,866 Balance as of September 30, 2024 $ 1,167 $ (64,636) $ (63,469) The following table summarizes the changes in accumulated other comprehensive loss (income), net of tax, for the nine months ended September 30, 2024 (in thousands): Unrealized Gains on Investments Foreign Currency Translation Total Balance as of January 1, 2024 $ 537 $ (72,157) $ (71,620) Other comprehensive income (loss), net of tax 630 7,521 8,151 Balance as of September 30, 2024 $ 1,167 $ (64,636) $ (63,469)

Revenues (Disaggregation of Rev

Revenues (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 353,580	$ 340,985	$ 988,865	$ 974,143
Operating Segments
Disaggregation of Revenue [Line Items]
Total revenues	353,580	340,985	988,865	974,143
Operating Segments | Digital Media
Disaggregation of Revenue [Line Items]
Total revenues	283,567	267,951	774,436	755,032
Operating Segments | Cybersecurity and Martech
Disaggregation of Revenue [Line Items]
Total revenues	70,039	73,051	214,475	219,263
Operating Segments | Advertising and performance marketing | Digital Media
Disaggregation of Revenue [Line Items]
Total revenues	193,626	183,008	520,063	514,173
Operating Segments | Subscription and licensing | Digital Media
Disaggregation of Revenue [Line Items]
Total revenues	77,450	71,858	223,681	209,167
Operating Segments | Subscription and licensing | Cybersecurity and Martech
Disaggregation of Revenue [Line Items]
Total revenues	70,039	73,051	214,475	219,263
Operating Segments | Other | Digital Media
Disaggregation of Revenue [Line Items]
Total revenues	12,491	13,085	30,692	31,692
Elimination of inter-segment revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ (26)	$ (17)	$ (46)	$ (152)

Revenues (Narrative) (Details)

Revenues (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Contract liability, revenue recognized	$ 33.9	$ 27.8	$ 166.3	$ 140.9
Revenue, remaining performance obligation	$ 80.3		$ 80.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, percent	23%		23%
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	54%		54%
Remaining performance obligation, period	1 year		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, percent	23%		23%
Remaining performance obligation, period

Business Acquisitions (Narrativ

Business Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 12, 2024	Feb. 05, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Revenue of acquiree since acquisition date	$ 20,700		$ 40,000
Total consideration net of cash			211,526	$ 9,492
Goodwill	1,572,854		1,572,854				$ 1,546,065
TDS Gift Cards
Business Acquisition [Line Items]
Percentage of voting interests acquired						100%
Consideration paid in cash	187,588		187,588
Goodwill	80,835		80,835
CNET
Business Acquisition [Line Items]
Percentage of voting interests acquired					100%
Consideration paid in cash	154,721		154,721
Goodwill	$ 24,930		$ 24,930
Fiscal 2024 Acquisitions
Business Acquisition [Line Items]
Consideration paid in cash		$ 358,200
Total consideration net of cash		$ 212,300
Fiscal 2023 Acquisitions
Business Acquisition [Line Items]
Goodwill				6,300
Definite-lived intangible assets acquired				$ 7,200

Business Acquisitions (Prelimin

Business Acquisitions (Preliminary Purchase Consideration) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Intangible assets	$ 226,325
Goodwill	1,572,854	$ 1,546,065
Amount expected to be uncollectable	0
Expected income tax deductible amount	0
TDS
Business Acquisition [Line Items]
Cash	142,957
Accounts receivable and other current assets	171,290
Intangible assets	108,924
Goodwill	80,835
Deferred tax asset, noncurrent	0
Other assets	289
Accounts payable and other current liabilities	(290,266)
Deferred tax liability, noncurrent	(25,580)
Deferred revenue, noncurrent	0
Other noncurrent liabilities	(861)
Total	187,588
Goodwill measurement period adjustments	300
Accounts receivable	170,700
CNET
Business Acquisition [Line Items]
Cash	0
Accounts receivable and other current assets	21,930
Intangible assets	111,650
Goodwill	24,930
Deferred tax asset, noncurrent	7,355
Other assets	655
Accounts payable and other current liabilities	(3,841)
Deferred tax liability, noncurrent	0
Deferred revenue, noncurrent	(7,958)
Other noncurrent liabilities	0
Total	154,721
Accounts receivable	$ 21,200

Business Acquisitions (Amounts

Business Acquisitions (Amounts Assigned to Intangible Assets by Type) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Business Acquisition [Line Items]
Gross Carrying Value	$ 226,325
Customer relationships
Business Acquisition [Line Items]
Gross Carrying Value	$ 152,595
Weighted Average Estimated Life	10 years
Trade names and trademarks
Business Acquisition [Line Items]
Gross Carrying Value	$ 27,027
Weighted Average Estimated Life	9 years
Other purchased intangibles
Business Acquisition [Line Items]
Gross Carrying Value	$ 46,703
Weighted Average Estimated Life	5 years

Business Acquisitions (Pro Form

Business Acquisitions (Pro Forma Supplemental Information) (Details) - Fiscal 2024 Acquisitions - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Revenues	$ 370,719	$ 378,343	$ 1,050,666	$ 1,075,400
Net loss	$ (51,585)	$ (34,772)	$ (15,451)	$ (46,950)
Loss per common share - Basic (in dollars per share)	$ (1.17)	$ (0.75)	$ (0.34)	$ (1.01)
Loss per common share - Diluted (in dollars per share)	$ (1.17)	$ (0.75)	$ (0.34)	$ (1.01)

Investments (Details)

Investments (Details)		3 Months Ended			9 Months Ended
	Jul. 31, 2023 USD ($)	Sep. 30, 2024 USD ($)	Jun. 30, 2024 shares	Sep. 30, 2023 USD ($) investment shares	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($) investment shares	Dec. 31, 2023 USD ($) investment shares	May 19, 2023	Apr. 12, 2022 USD ($)
Equity Securities [Line Items]
Number of shares sold in transaction (in shares) | shares			1,034,295	0		52,393
Equity securities, shares owned (in shares) | shares							1,000,000
Consensus common stock							$ 27,100,000
Loss on investments, net		$ 0		$ (6,019,000)	$ (7,654,000)	$ (29,203,000)
Gross unrealized gains		1,500,000			1,500,000		$ 700,000
Investments in an unrealized loss position | investment				0		0	0
Impairment losses		0		$ 0	0	$ 0
(Loss) income from equity method investment, net of tax		(77,000)		$ 90,000	8,095,000	$ (9,665,000)
Equity method investments		110,900,000			110,900,000		$ 99,900,000
Corporate Debt Securities
Equity Securities [Line Items]
Debt securities, available-for-sale, coupon rate								6%	4%
Investment in corporate debt securities									$ 15,000,000
Carrying value of investment		$ 16,500,000			$ 16,500,000		$ 15,700,000
Corporate Debt Securities | Minimum
Equity Securities [Line Items]
Debt securities, available-for-sale, term		1 year			1 year		1 year
Corporate Debt Securities | Maximum
Equity Securities [Line Items]
Debt securities, available-for-sale, term		5 years			5 years		5 years
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		$ 25,300,000

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details)	Sep. 30, 2024	Jul. 16, 2024	Dec. 31, 2023	Oct. 07, 2020	Nov. 15, 2019
4.625% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate				4.625%
3.625% Convertible Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate		3.625%
1.75% Convertible Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate					1.75%
Minimum | Measurement Input, Discount Rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, measurement input	0.13		0.13
Minimum | Measurement Input, Conversion Term
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, term	1 year
Maximum | Measurement Input, Discount Rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, measurement input	0.15		0.15
Maximum | Measurement Input, Conversion Term
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale, term			2 years

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Values of Financial Instruments Measured On Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Consensus common stock		$ 27,100
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Consensus common stock		27,109
Investment in corporate debt securities	$ 16,529	15,699
Total assets measured at fair value	66,097	383,736
Contingent consideration	2,834	2,834
Total liabilities measured at fair value	2,834	2,834
Fair Value | Money market and other funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	49,568	340,928
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Consensus common stock		27,109
Investment in corporate debt securities	16,529	15,699
Total assets measured at fair value	66,097	383,736
Contingent consideration	2,834	2,834
Total liabilities measured at fair value	2,834	2,834
Carrying Value | Money market and other funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	49,568	340,928
Level 1 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Consensus common stock		27,109
Investment in corporate debt securities	0	0
Total assets measured at fair value	49,568	368,037
Contingent consideration	0	0
Total liabilities measured at fair value	0	0
Level 1 | Fair Value | Money market and other funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	49,568	340,928
Level 2 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Consensus common stock		0
Investment in corporate debt securities	0	0
Total assets measured at fair value	0	0
Contingent consideration	0	0
Total liabilities measured at fair value	0	0
Level 2 | Fair Value | Money market and other funds
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]
Consensus common stock		0
Investment in corporate debt securities	16,529	15,699
Total assets measured at fair value	16,529	15,699
Contingent consideration	2,834	2,834
Total liabilities measured at fair value	2,834	2,834
Level 3 | Fair Value | Money market and other funds
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, 2024	Sep. 30, 2023
Contingent Consideration Arrangements
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of January 1	$ 2,834	$ 555
Fair value at date of acquisition	0	2,834
Fair value adjustments	0	0
Balance as of September 30	2,834	3,389
Corporate Debt Securities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of January 1	15,699	15,586
Fair value at date of acquisition	0	0
Fair value adjustments	830	(117)
Balance as of September 30	$ 16,529	$ 15,469

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying and Fair Value) (Details) - USD ($)	Jul. 16, 2024	Sep. 30, 2024	Dec. 31, 2023	Oct. 07, 2020	Nov. 15, 2019
4.625% Senior Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		$ 457,106,000	$ 456,796,000
4.625% Senior Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		432,785,000	405,408,000
4.625% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate				4.625%
Aggregate principal amount				$ 750,000,000
1.75% Convertible Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		148,062,000	544,516,000
1.75% Convertible Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		138,850,000	519,492,000
1.75% Convertible Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate					1.75%
Aggregate principal including cash payment	$ 400,900,000
Aggregate principal amount		149,100,000			$ 550,000,000
Repayments of convertible debt	$ 135,000,000
3.625% Convertible Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		258,573,000	0
3.625% Convertible Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		$ 251,484,000	$ 0
3.625% Convertible Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.625%
Aggregate principal amount	$ 263,100,000

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
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill [Line Items]
Beginning balance			$ 1,546,065
Goodwill acquired			112,534
Goodwill removed due to sale of businesses			(3,983)
Goodwill impairment	$ (85,273)	$ (56,850)	(85,273)	$ (56,850)
Foreign exchange translation			3,511
Ending balance	1,572,854		1,572,854
Digital Media
Goodwill [Line Items]
Goodwill impairment	(85,300)	$ (56,900)	(85,300)	$ (56,900)
Operating Segments | Digital Media
Goodwill [Line Items]
Beginning balance			1,016,880
Goodwill acquired			112,534
Goodwill removed due to sale of businesses			(3,983)
Goodwill impairment			(85,273)
Foreign exchange translation			1,180
Ending balance	1,041,338		1,041,338
Operating Segments | Cybersecurity and Martech
Goodwill [Line Items]
Beginning balance			529,185
Goodwill acquired			0
Goodwill removed due to sale of businesses			0
Goodwill impairment			0
Foreign exchange translation			2,331
Ending balance	$ 531,516		$ 531,516

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) reporting_unit	Sep. 30, 2023 USD ($) reporting_unit	Sep. 30, 2024 USD ($) reporting_unit	Sep. 30, 2023 USD ($) reporting_unit	Dec. 31, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment on business	$ 85,273	$ 56,850	$ 85,273	$ 56,850
Goodwill	1,572,854		1,572,854		$ 1,546,065
Amortization expense	28,500	33,000	82,500	100,000
Digital Media
Finite-Lived Intangible Assets [Line Items]
Goodwill accumulated impairment loss	169,500		169,500		84,200
Goodwill impairment on business	85,300	$ 56,900	85,300	$ 56,900
Digital Media | Operating Segments
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment on business			85,273
Goodwill	$ 1,041,338		$ 1,041,338		$ 1,016,880
Digital Media | Operating Segments | Digital Media Subsegment
Finite-Lived Intangible Assets [Line Items]
Number of Reporting Units | reporting_unit	2	1	2	1
Number of reporting units with additional risk of impairment | reporting_unit	1
Number of reporting units with risk of impairment | reporting_unit	3
Digital Media | Operating Segments | Digital Media Subsegment, Two
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 498,400		$ 498,400

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Intangible Assets Subject to Amortization) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Historical Cost	$ 1,650,042	$ 1,420,232
Accumulated Amortization	1,179,268	1,094,826
Net	470,774	325,406
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Historical Cost	375,332	347,895
Accumulated Amortization	214,695	192,111
Net	160,637	155,784
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Historical Cost	847,121	692,634
Accumulated Amortization	603,979	555,384
Net	243,142	137,250
Other purchased intangibles
Finite-Lived Intangible Assets [Line Items]
Historical Cost	427,589	379,703
Accumulated Amortization	360,594	347,331
Net	$ 66,995	$ 32,372

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jul. 16, 2024	Dec. 31, 2023	Oct. 07, 2020	Nov. 15, 2019
Debt Instrument [Line Items]
Less: Unamortized discount	$ (6,015)		$ (2,463)
Debt issuance costs	(2,538)		(6,263)
Total long-term debt	863,741		1,001,312
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
Debt issuance costs	(700)		(800)
Convertible Debt
Debt Instrument [Line Items]
Long-term debt, gross	872,294		1,010,038
Convertible Debt | 1.75% Convertible Notes
Debt Instrument [Line Items]
Stated interest rate					1.75%
Long-term debt, gross	149,109		550,000
Debt issuance costs	(1,000)		(5,500)
Convertible Debt | 3.625% Convertible Notes
Debt Instrument [Line Items]
Stated interest rate		3.625%
Long-term debt, gross	263,147		$ 0
Debt issuance costs	$ (800)

Debt - Narrative (Details)

Debt - Narrative (Details)

1 Months Ended

3 Months Ended

4 Months Ended

9 Months Ended

Jul. 16, 2024 USD ($) tradingDay $ / shares

Jun. 18, 2024 USD ($)

Nov. 01, 2023 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 ($)

Nov. 30, 2023 USD ($)

Sep. 30, 2024 USD ($) $ / shares shares

Sep. 30, 2023 USD ($)

Dec. 31, 2023 USD ($) $ / shares

May 01, 2021

Debt Instrument [Line Items]

Principal maturing in 2026

$ 149,100,000

Principal maturing in 2028

263,100,000

Principal maturing in 2030

460,000,000

Debt instrument, convertible, beneficial conversion feature

$ 4,001,000

$ 0

Common stock, par value (in usd per share) | $ / shares

$ 0.01

$ 0.01

$ 0.01

Basis spread on variable rate

0.10%

Revolving Credit Facility

Debt Instrument [Line Items]

Credit agreement

$ 350,000,000

$ 350,000,000

Line of credit facility, maximum borrowing capacity

$ 350,000,000

$ 100,000,000

Increase available

$ 250,000,000

1.75% Convertible Notes | Convertible Debt

Debt Instrument [Line Items]

Stated interest rate

1.75%

Debt instrument, face amount

$ 550,000,000

149,100,000

Proceeds from debt, net of issuance costs

$ 537,100,000

Effective interest rate

4.20%

Aggregate principal including cash payment

$ 400,900,000

Interest Payable

$ 1,500,000

Additional interest

0.50%

Interest expense

$ 700,000

$ 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

1,398,391

Convertible debt conversion price (in usd per share) | $ / shares

$ 106.63

Repayments of convertible debt

135,000,000

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

Convertible debt conversion ratio

1.30

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

Convertible debt conversion ratio

0.98

3.625% Convertible Notes

Debt Instrument [Line Items]

Debt instrument, convertible, beneficial conversion feature

4,000,000

Deferred tax liabilities

$ (1,000,000)

3.625% Convertible Notes | Convertible Debt

Debt Instrument [Line Items]

Stated interest rate

3.625%

Debt instrument, face amount

$ 263,100,000

Convertible debt conversion ratio

0.01

Shares issued in debt-for-equity exchange (in shares) | shares

2,631,470

Convertible debt conversion price (in usd per share) | $ / shares

$ 100

3.625% 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

Convertible debt conversion ratio

1.30

3.625% 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

Convertible debt conversion ratio

0.98

4.625% Senior Notes | Senior Notes

Debt Instrument [Line Items]

Stated interest rate

4.625%

Debt instrument, face amount

$ 750,000,000

Proceeds from debt, net of issuance costs

$ 742,700,000

Effective interest rate

4.70%

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

Repurchased principal

$ 290,000,000

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%

Bridge Loan Facility | Secured Overnight Financing Rate (SOFR) | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.50%

Bridge Loan Facility | Secured Overnight Financing Rate (SOFR) | 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 | Credit Spread Adjustment

Debt Instrument [Line Items]

Basis spread on variable rate

0.10%

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 | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Derivative basis spread on variable rate

1%

Credit Agreement | Line of Credit

Debt Instrument [Line Items]

Debt instrument, covenant, leverage ratio, maximum

4

Debt instrument, covenant, interest coverage ratio, minimum

3

Debt - Components of Interest E

Debt - Components of Interest Expense Related to Convertible Notes (Details) - Convertible Debt - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
1.75% Convertible Notes
Debt Instrument [Line Items]
Contractual/Coupon Interest Expense	$ 964	$ 2,746	$ 5,777	$ 14,963
Amortization of discount and deferred/ debt issuance costs	185	466	1,128	1,395
Total interest expense related to Convertible Notes	1,149	$ 3,212	$ 6,905	$ 16,358
3.625% Convertible Notes
Debt Instrument [Line Items]
Contractual/Coupon Interest Expense	1,987
Amortization of discount and deferred/ debt issuance costs	258
Total interest expense related to Convertible Notes	$ 2,245

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Estimate of possible loss	$ 26.9	$ 28.1

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	(34.90%)	(20.70%)	149%	(1040.80%)
Goodwill impairment on business	$ 85,273	$ 56,850	$ 85,273	$ 56,850
Discrete tax benefit			2,500
Unrecognized tax benefits	37,000		37,000		$ 36,100
Prepaid tax payments	$ 1,300		$ 1,300		$ 4,700

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		50 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Aug. 02, 2024	Aug. 06, 2020
Equity, Class of Treasury Stock [Line Items]
Number of shares purchased from plan participants (in shares)	2,464	9,479	62,054	51,354
Tax withholding aggregate cost	$ 0.1	$ 0.2	$ 4.1	$ 3.5
2020 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Maximum number of shares authorized to be repurchased (in shares)						15,000,000	10,000,000
Additional shares authorized (in shares)						5,000,000
Shares repurchased under the program (in shares)	2,000,000	605,428	3,500,000	1,585,846	8,758,692
Shares repurchased aggregate cost	$ 96.9	$ 41	$ 181.8	$ 104.9	$ 583.6
Number of remaining shares available for purchase (in shares)	6,241,308		6,241,308		6,241,308

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) d $ / shares shares	Sep. 30, 2023 $ / shares shares	Dec. 31, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)	435,135
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units outstanding (in shares)	694,769		506,425
Granted (in shares)	394,994	296,705
Weighted-average period to recognize compensation cost (in years)	2 years 2 months 12 days
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
Market-based Restricted Stock Awards (PSAs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0	167,606
Trading days | d	20
Trading days, lookback | d	30
Weighted-average period to recognize compensation cost (in years)	1 year 3 months 18 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 | $	$ 61.4
Restricted Stock Awards (RSAs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0
Weighted-average period to recognize compensation cost (in years)	1 year 3 months 18 days
Market-based Restricted Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units outstanding (in shares)	532,727		270,772
Granted (in shares)	308,970
Weighted-average grant-date fair values of restricted stock awards granted (in dollars per share) | $ / shares	$ 87.17	$ 70.07
Weighted-average period to recognize compensation cost (in years)	2 years 2 months 12 days
Minimum | Restricted Stock And Restricted Stock Unit (RSU) | Senior Staff
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	3 years
Minimum | Restricted Stock And Restricted Stock Unit (RSU) | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	3 years
Minimum | Market-based Restricted Stock Awards (PSAs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair values of restricted stock awards granted (in dollars per share) | $ / shares		83.61
Minimum | Market-based Restricted Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0%
Maximum | 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
Maximum | 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
Maximum | Market-based Restricted Stock Awards (PSAs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair values of restricted stock awards granted (in dollars per share) | $ / shares		$ 103.76
Maximum | Market-based Restricted Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200%
2024 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum issuance of common stock (in shares)	3,500,000
Number of shares available for issuance (in shares)	3,582,306
2015 Stock Option Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units outstanding (in shares)	694,769

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 10,161	$ 6,774	$ 30,633	$ 24,393
Direct costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	68	76	191	246
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	1,014	323	2,865	2,285
Research, development and engineering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	769	840	2,930	2,581
General, administrative, and other related costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 8,310	$ 5,535	$ 24,647	$ 19,281

Share-Based Compensation (Marke

Share-Based Compensation (Market-Based Restricted Stock Awards, Valuation Assumptions) (Details) - Market-based Restricted Stock Units (PSUs) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Underlying stock price at valuation date (in usd per share)	$ 66.88	$ 77.80
Expected volatility (as a percent)	32.90%	32%
Risk-free interest rate (as a percent)	4.30%	4.10%

Share-Based Compensation (Restr

Share-Based Compensation (Restricted Stock and Restricted Stock Unit Award Activity) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Restricted Stock Awards (RSAs)
Number of Shares
Nonvested at beginning of period (in shares)	95,718
Granted (in shares)	0
Vested (in shares)	(41,170)
Forfeited (in shares)	(154)
Nonvested at end of period (in shares)	54,394
Number of Shares
Granted (in shares)	0
Vested (in shares)	(41,170)
Forfeited (in shares)	154
Weighted Average Grant Date Fair Value
Nonvested at beginning of period (in dollars per share)	$ 70.17
Granted (in dollars per share)	0
Vested (in dollars per share)	71.73
Forfeited (in dollars per share)	77.75
Nonvested at end of period (in dollars per share)	$ 68.97
Market-based Restricted Stock Awards (PSAs)
Number of Shares
Nonvested at beginning of period (in shares)	163,181
Granted (in shares)	0	167,606
Vested (in shares)	0
Forfeited (in shares)	0
Nonvested at end of period (in shares)	163,181
Number of Shares
Granted (in shares)	0	167,606
Vested (in shares)	0
Forfeited (in shares)	0
Weighted Average Grant Date Fair Value
Nonvested at beginning of period (in dollars per share)	$ 36.27
Granted (in dollars per share)	0
Vested (in dollars per share)	0
Forfeited (in dollars per share)	0
Nonvested at end of period (in dollars per share)	$ 36.27
Restricted Stock Units (RSUs)
Number of Shares
Granted (in shares)	394,994	296,705
Vested (in shares)	(132,003)
Forfeited (in shares)	(74,647)
Number of Shares
Outstanding at beginning of period (in shares)	506,425
Granted (in shares)	394,994	296,705
Vested (in shares)	(132,003)
Forfeited (in shares)	74,647
Outstanding at end of period (in shares)	694,769
Weighted Average Grant Date Fair Value
Nonvested at beginning of period (in dollars per share)	$ 88.36
Granted (in dollars per share)	65.24
Vested (in dollars per share)	83.91
Forfeited (in dollars per share)	75.63
Nonvested at end of period (in dollars per share)	$ 77.40
Market-based Restricted Stock Units (PSUs)
Number of Shares
Granted (in shares)	308,970
Vested (in shares)	0
Forfeited (in shares)	(47,015)
Number of Shares
Outstanding at beginning of period (in shares)	270,772
Granted (in shares)	308,970
Vested (in shares)	0
Forfeited (in shares)	47,015
Outstanding at end of period (in shares)	532,727
Weighted Average Grant Date Fair Value
Nonvested at beginning of period (in dollars per share)	$ 77.09
Granted (in dollars per share)	87.17
Vested (in dollars per share)	0
Forfeited (in dollars per share)	79.49
Nonvested at end of period (in dollars per share)	$ 82.71

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator for basic and diluted net loss per common share:
Net loss - basic	$ (48,577)	$ (30,971)	$ (1,040)	$ (21,919)
Net loss - diluted	(48,577)	(30,971)	(1,040)	(21,919)
Plus: Convertible Notes interest expense (after-tax)	0	0
Net income available to the Company's common shareholders - basic	(48,577)	(30,971)	(1,040)	(21,919)
Net income available to the Company’s common shareholders - diluted	$ (48,577)	$ (30,971)	$ (1,040)	$ (21,919)
Denominator:
Basic weighted -average outstanding shares of common stock (in shares)	43,924,158	46,062,097	45,088,272	46,612,660
Dilutive 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)	43,924,158	46,062,097	45,088,272	46,612,660
Net loss per share - basic (in dollars per share)	$ (1.11)	$ (0.67)	$ (0.02)	$ (0.47)
Net loss per share - diluted (in dollars per share)	$ (1.11)	$ (0.67)	$ (0.02)	$ (0.47)

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
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)	1,879,840	1,512,611	1,879,840	1,512,611
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)	4,213,808	5,158,071	5,406,679	5,158,071

Segment Information (Narrative)

Segment Information (Narrative) (Details)	9 Months Ended
	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable 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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 353,580	$ 340,985	$ 988,865	$ 974,143
Total operating costs and expenses	382,884	354,304	953,739	922,252
(Loss) income from operations	(29,304)	(13,319)	35,126	51,891
Reportable segments
Segment Reporting Information [Line Items]
Total revenues	353,580	340,985	988,865	974,143
Total operating costs and expenses	363,441	341,380	901,146	884,233
(Loss) income from operations	(9,861)	(395)	87,719	89,910
Elimination of inter-segment operating expenses
Segment Reporting Information [Line Items]
Total revenues	(26)	(17)	(46)	(152)
Total operating costs and expenses	(26)	(17)	(46)	(152)
Corporate
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Total operating costs and expenses	19,443	12,924	52,593	38,019
(Loss) income from operations	(19,443)	(12,924)	(52,593)	(38,019)
Digital Media | Reportable segments
Segment Reporting Information [Line Items]
Total revenues	283,567	267,951	774,436	755,032
Total operating costs and expenses	308,309	280,856	732,554	702,752
(Loss) income from operations	(24,742)	(12,905)	41,882	52,280
Cybersecurity and Martech operating income | Reportable segments
Segment Reporting Information [Line Items]
Total revenues	70,039	73,051	214,475	219,263
Total operating costs and expenses	55,158	60,541	168,638	181,633
(Loss) income from operations	$ 14,881	$ 12,510	$ 45,837	$ 37,630

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Non-Cash) (Details) - USD ($) $ in Thousands		9 Months Ended
	Jul. 16, 2024	Sep. 30, 2024	Sep. 30, 2023
Non-cash investing activity:
Property and equipment, accrued but unpaid		$ 0	$ 373
Right-of-use assets acquired in exchange for operating lease obligations		1,035	1,282
Purchase of equity investments with common stock		0	13,500
Non-cash financing activity:
Increase in fair value of conversion feature on 3.625% Convertible Notes		4,001	0
Excise tax on share repurchases		$ 1,797	$ 1,038
3.625% Convertible Notes
Non-cash financing activity:
Increase in fair value of conversion feature on 3.625% Convertible Notes	$ 4,000
3.625% Convertible Notes | Convertible Debt
Cash and Cash Equivalents [Line Items]
Stated interest rate	3.625%

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 16,912	$ 22,395
Income taxes paid, net of refunds	$ 49,660	$ 47,001

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,869,887,000	$ 1,862,682,000	$ 1,892,998,000	$ 1,892,611,000
Ending balance	1,752,312,000	1,804,138,000	1,752,312,000	1,804,138,000
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	(78,335,000)	(79,581,000)	(71,620,000)	(85,373,000)
Other comprehensive income (loss), net of tax	14,866,000		8,151,000
Ending balance	(63,469,000)	$ (86,113,000)	(63,469,000)	$ (86,113,000)
Unrealized Gains on Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	815,000		537,000
Other comprehensive income (loss), net of tax	352,000		630,000
Ending balance	1,167,000		1,167,000
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(79,150,000)		(72,157,000)
Other comprehensive income (loss), net of tax	14,514,000		7,521,000
Ending balance	$ (64,636,000)		$ (64,636,000)