Ziff Davis (ZD) 10-K 25 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 21, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1,502,418,985
Entity Common Stock, Shares Outstanding		42,845,041
Documents Incorporated by Reference	Portions of the definitive Proxy Statement to be delivered to stockholders in connection with the Annual Meeting of Stockholders to be held May 7, 2025 are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0001084048
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	KPMG LLP	BDO USA, P.C.
Auditor Location	New York, New York	Los Angeles, California
Auditor Firm ID	185	243

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 505,880	$ 737,612
Short-term investments	0	27,109
Accounts receivable, net of allowances of $8,148 and $6,871, respectively	660,223	337,703
Prepaid expenses and other current assets	105,966	88,570
Total current assets	1,272,069	1,190,994
Long-term investments	158,187	140,906
Property and equipment, net	197,216	188,169
Trade names and trademarks, net	153,019	155,784
Customer relationships, net	215,328	137,250
Other purchased intangibles, net	57,402	32,372
Goodwill	1,580,258	1,546,065
Deferred income taxes	7,487	8,731
Other assets	63,368	70,751
TOTAL ASSETS	3,704,334	3,471,022
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued expenses	670,769	216,936
Income taxes payable, current	19,715	14,458
Deferred revenue, current	199,664	184,549
Other current liabilities	9,499	15,890
Total current liabilities	899,647	431,833
Long-term debt	864,282	1,001,312
Deferred revenue, noncurrent	5,504	8,169
Income taxes payable, noncurrent	0	8,486
Liability for uncertain tax positions	30,296	36,055
Deferred income taxes	46,018	45,503
Other noncurrent liabilities	47,705	46,666
TOTAL LIABILITIES	1,893,452	1,578,024
Commitments and contingencies (Note 12)
Preferred stock	0	0
Common stock, $0.01 par value. Authorized 95,000,000; total issued and outstanding 42,848,339 and 46,078,464 shares at December 31, 2024 and 2023, respectively	428	461
Additional paid-in capital	491,891	472,201
Retained earnings	1,401,034	1,491,956
Accumulated other comprehensive loss	(82,471)	(71,620)
TOTAL STOCKHOLDERS’ EQUITY	1,810,882	1,892,998
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	3,704,334	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

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Allowance for doubtful accounts	$ 8,148	$ 6,871
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)	42,848,339	46,078,464
Common stock, shares outstanding (in shares)	42,848,339	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

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Total Revenues	$ 1,401,688	$ 1,364,028	$ 1,390,997
Operating costs and expenses:
Direct costs	200,323	185,650	184,546
Sales and marketing	519,694	487,365	490,777
Research, development, and engineering	67,373	68,860	74,093
General, administrative, and other related costs	203,461	195,726	181,871
Depreciation and amortization	211,916	236,966	233,400
Goodwill impairment	85,273	56,850	27,369
Total operating costs and expenses	1,288,040	1,231,417	1,192,056
Income from operations	113,648	132,611	198,941
Interest expense, net	(13,988)	(20,031)	(33,842)
Gain on debt extinguishment, net	0	0	11,505
Loss on sale of businesses	(3,780)	0	0
Loss on investments, net	(7,654)	(28,138)	(53,888)
Other income (loss), net	4,968	(9,468)	8,437
Income from continuing operations before income tax expense and income (loss) from equity method investment	93,194	74,974	131,153
Income tax expense	(41,370)	(24,142)	(57,957)
Income (loss) from equity method investment, net of tax	11,223	(9,329)	(7,730)
Net income from continuing operations	63,047	41,503	65,466
Loss from discontinued operations, net of tax	0	0	(1,709)
Net Income (Loss) Attributable to Parent, Total	$ 63,047	$ 41,503	$ 63,757
Net income per common share from continuing operations:
Basic (in dollars per share)	$ 1.42	$ 0.89	$ 1.39
Diluted (in dollars per share)	1.42	0.89	1.39
Net loss per common share from discontinued operations:
Basic (in dollars per share)	0	0	(0.04)
Diluted (in dollars per share)	0	0	(0.04)
Net income per common share:
Basic (in dollars per share)	1.42	0.89	1.36
Diluted (in dollars per share)	$ 1.42	$ 0.89	$ 1.36
Weighted average shares outstanding:
Basic (in shares)	44,457,071	46,400,941	46,954,558
Diluted (in shares)	44,519,693	46,464,261	47,025,849

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 63,047	$ 41,503	$ 63,757
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(12,426)	13,657	(32,479)
Consensus separation adjustment	0	0	4,056
Change in fair value on available-for-sale investments, net of tax expense of $514, $16 and $0 for the years ended December 31, 2024, 2023 and 2023, respectively	1,575	96	272
Other comprehensive (loss) income, net of tax	(10,851)	13,753	(28,151)
Comprehensive income	$ 52,196	$ 55,256	$ 35,606

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Tax expense	$ 514	$ 16	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 63,047	$ 41,503	$ 63,757
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	211,916	236,966	233,400
Non-cash operating lease costs	10,923	11,141	13,412
Share-based compensation	40,915	31,920	26,601
Provision for credit losses (benefit) on accounts receivable	2,898	2,809	(255)
Deferred income taxes, net	(18,822)	(30,017)	(12,991)
Gain on extinguishment of debt, net	0	0	(11,505)
Loss on sale of businesses	3,780	0	0
Goodwill impairment	85,273	56,850	27,369
Changes in fair value of contingent consideration	0	(200)	(2,575)
(Income) loss from equity method investments	(11,223)	9,329	7,730
Loss on investments, net	7,654	28,138	53,888
Other	3,601	5,159	3,637
Decrease (increase) in:
Accounts receivable	(153,121)	(35,371)	14,948
Prepaid expenses and other current assets	(17,153)	(8,700)	9,665
Other assets	11,367	(5,574)	(16,240)
Increase (decrease) in:
Accounts payable	171,280	9,419	(20,246)
Deferred revenue	5,043	(6,802)	(20,962)
Accrued liabilities and other current liabilities	(27,063)	(26,608)	(33,189)
Net cash provided by operating activities	390,315	319,962	336,444
Cash flows from investing activities:
Purchases of property and equipment	(106,635)	(108,729)	(106,154)
Acquisition of businesses, net of cash received	(217,570)	(9,492)	(104,094)
Purchases of equity method investment	0	(11,858)	0
Proceeds from sale of equity investments	19,455	3,174	4,527
Investment in available-for-sale securities	0	0	(15,000)
Proceeds from sale of businesses, net of cash divested	7,860	0	0
Other	(565)	(503)	(50)
Net cash used in investing activities	(297,455)	(127,408)	(220,771)
Cash flows from financing activities:
Payment of debt	(134,989)	0	(166,904)
Proceeds from term loan	0	0	112,286
Debt extinguishment costs	(277)	0	(756)
Repurchase of common stock	(185,181)	(108,527)	(78,291)
Issuance of common stock under employee stock purchase plan	8,371	8,727	9,431
Proceeds from exercise of stock options	0	0	148
Deferred payments for acquisitions	(7,842)	(15,241)	(16,116)
Other	(1,076)	250	(630)
Net cash used in financing activities	(320,994)	(114,791)	(140,832)
Effect of exchange rate changes on cash and cash equivalents	(3,598)	7,056	(16,890)
Net change in cash and cash equivalents	(231,732)	84,819	(42,049)
Cash and cash equivalents at beginning of year	737,612	652,793	694,842
Cash and cash equivalents at end of year	$ 505,880	$ 737,612	$ 652,793

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common stock	Additional paid-in capital	Additional paid-in capital Cumulative Effect, Period of Adoption, Adjustment	Retained earnings	Retained earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated other comprehensive loss
Beginning balance, common stock (in shares) at Dec. 31, 2021			47,440,137
Beginning balance at Dec. 31, 2021	$ 1,967,732	$ (64,701)	$ 474	$ 509,122	$ (88,137)	$ 1,515,358	$ 23,436	$ (57,222)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	63,757					63,757
Other comprehensive income (loss), net of tax expense (benefit)	$ (32,207)			(206)		206		(32,207)
Exercise of stock options (in shares)	5,439		5,439
Exercise of stock options	$ 148			148
Issuance of restricted stock, net (in shares)			493,300
Issuance of restricted stock, net	(1)		$ 5	(6)
Issuance of shares under employee stock purchase plan (in shares)			139,992
Issuance of shares under employee stock purchase plan	9,431		$ 1	9,430
Repurchase and retirement of common stock (in shares)			(809,422)
Repurchase and retirement of common stock	(78,291)		$ (7)	(17,277)		(61,007)
Share-based compensation	26,601			26,601
Other, net	142			6		(3,920)		4,056
Ending balance, common stock (in shares) at Dec. 31, 2022			47,269,446
Ending balance at Dec. 31, 2022	1,892,611		$ 473	439,681	$ (88,100)	1,537,830	$ 23,400	(85,373)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	41,503					41,503
Other comprehensive income (loss), net of tax expense (benefit)	$ 13,753							13,753
Exercise of stock options (in shares)	0
Issuance of restricted stock, net (in shares)			47,274
Issuance of restricted stock, net	$ (4,647)			(6,220)		1,573
Issuance of shares under employee stock purchase plan (in shares)			161,488
Issuance of shares under employee stock purchase plan	8,727		$ 2	8,725
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	31,920			31,920
Other, net	$ 628			63		565		0
Ending balance, common stock (in shares) at Dec. 31, 2023	46,078,464		46,078,464
Ending balance at Dec. 31, 2023	$ 1,892,998		$ 461	472,201		1,491,956		(71,620)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	63,047					63,047
Other comprehensive income (loss), net of tax expense (benefit)	$ (10,851)							(10,851)
Exercise of stock options (in shares)	0
Issuance of restricted stock, net (in shares)			95,169
Issuance of restricted stock, net	$ (5,148)			(7,632)		2,484
Issuance of shares under employee stock purchase plan (in shares)			174,706
Issuance of shares under employee stock purchase plan	8,371		$ 2	8,369
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	40,915			40,915
Increase in fair value of conversion feature on 3.625% Convertible Notes, net of tax effect of $1,000	3,001			3,001
Other, net	$ 379			10		369		0
Ending balance, common stock (in shares) at Dec. 31, 2024	42,848,339		42,848,339
Ending balance at Dec. 31, 2024	$ 1,810,882		$ 428	$ 491,891		$ 1,401,034		$ (82,471)

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021
Accounting Standards Update [Extensible List]	Accounting Standards Update 2020-06 [Member]

The Company

The Company	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of Ziff Davis and its direct and indirect wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, including judgments about investment classifications and the reported amounts of net revenue and expenses during the reporting period. The Company believes that its most significant estimates are those related to revenue recognition, valuation and impairment of investments, its assessment of ownership interests as variable interest entities and the related determination of consolidation, share-based compensation expense, fair value of assets acquired and liabilities assumed in connection with business combinations, long-lived and intangible asset impairment, contingent consideration, income taxes and contingencies, and allowance for credit losses. On an ongoing basis, management evaluates its estimates based on historical experience and on various other factors that the Company believes to be reasonable under the circumstances. Actual results could materially differ from those estimates. Consensus, Inc. Spin-Off and Discontinued Operations On September 21, 2021, the Company announced that its Board of Directors approved its previously announced separation of the cloud fax business (the “Separation”) into an independent publicly traded company, Consensus Cloud Solutions, Inc. (“Consensus”). During the year ended December 31, 2022, the Company recorded $1.7 million in income tax expense within ‘(Loss) income from discontinued operations, net of income taxes’ within the Consolidated Statement of Operations related to the finalization of state tax returns related to the Separation. Reclassifications Certain prior year reported amounts have been reclassified to conform to the 2024 presentation. For the year ended December 31, 2022, the Company reclassified depreciation and amortization of $11.0 million and $222.4 million from ‘Direct costs’ and ‘General, administrative, and other related costs’, respectively, to ‘Depreciation and amortization’ to conform with current period presentation. For the year ended December 31, 2023, the Company reclassified depreciation and amortization of $11.6 million and $225.3 million from ‘Direct costs’ and ‘General, administrative, and other related costs’, respectively, to ‘Depreciation and amortization’ to conform with current period presentation. Segment Reporting ASC Topic 280, Segment Reporting (“ASC 280”), establishes standards for the way that public business enterprises report information about operating segments in their annual consolidated financial statements and requires that those enterprises report selected information about operating segments in interim financial reports. ASC 280 also establishes standards for related disclosures about products and services, geographic areas and major customers. The Company’s business segments are based on the organization structure used by the chief operating decision maker for making operating and investment decisions and for assessing performance. Following changes to our internal reporting structure, the Company concluded that it has five operating segments which are now presented as the following five reportable segments: 1) Technology & Shopping, 2) Gaming & Entertainment, 3) Health & Wellness, 4) Connectivity, and 5) Cybersecurity & Martech. Prior period segment information is presented on a comparable basis to conform to this new segment presentation with no effect on previously reported consolidated results. Refer to Note 17 Segment Information for additional detail. Cash and Cash Equivalents The Company considers the balance of its investment in funds that substantially hold securities that mature within three months or less from the date the Company purchases these securities to be cash equivalents. The carrying amount of cash and cash equivalents either approximates fair value due to the short-term maturity of these instruments or are at fair value. Accounts Receivable, net Accounts receivable, net consisted of the following (in thousands): December 31, 2024 2023 Settlement receivables, net $ 296,553 $ — Trade receivables, net 363,670 337,703 Accounts receivable, net $ 660,223 $ 337,703 Settlement receivables, net represent amounts due from third parties that are collected by the Company and passed through to our customers, net of a fee earned by the Company, related to services provided in the facilitation of gift card processing and program management. Settlement receivables, net is associated with our TDS Gift Cards (“TDS”) business, which was acquired in 2024. Refer to Note 4 — Business Acquisitions for details. Allowances for Credit Losses The Company maintains an allowance for credit losses on accounts receivable, which is recorded as a reduction to accounts receivable. Changes in the allowance are classified as ‘General, administrative, and other related costs’ in the Consolidated Statements of Operations. The Company assesses collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when it identifies specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Company considers historical collectability based on past due status. It also considers customer-specific information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. On an ongoing basis, management evaluates the adequacy of these reserves. The rollforward of allowance for credit losses on Accounts receivable, net is as follows (in thousands): Years ended December 31, 2024 2023 2022 Beginning balance $ 6,871 $ 6,868 $ 9,811 Increases (decreases) to bad debt expense 2,898 2,809 (255) Write-offs, net of recoveries (1,621) (2,806) (2,688) Ending balance $ 8,148 $ 6,871 $ 6,868 Investments The Company accounts for its investments in debt securities in accordance with ASC Topic 320, Investments — Debt Securities (“ASC 320”). The Company’s available-for-sale debt securities are carried at an estimated fair value with any unrealized gains or losses, net of taxes, included in accumulated other comprehensive loss on our Consolidated Balance Sheets. All debt securities are accounted for on a specific identification basis. Available-for-sale debt securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of that difference, if any, is caused by expected credit losses. Expected credit losses on available-for-sale debt securities are recognized in loss on investments, net on our Consolidated Statements of Operations, and any remaining unrealized losses, net of taxes, are included in accumulated comprehensive loss on our Consolidated Balance Sheets. The Company accounts for its investments in equity securities in accordance with ASC Topic 321, Investments — Equity Securities (“ASC 321”) which requires the accounting for equity investments, other than those accounted for under the equity method of accounting, generally be measured at fair value for equity securities with readily determinable fair values. Equity securities without a readily determinable fair value, which are not accounted for under the equity method of accounting, are measured at their cost, less impairment, if any, and adjusted for observable price changes arising from orderly transactions in the same or similar investment from the same issuer. Any unrealized gains or losses will be reported within earnings on our Consolidated Statements of Operations. The Company assesses whether an other-than-temporary impairment loss on an investment has occurred due to declines in fair value or other market conditions. Refer to Note 5 Investments for additional information. The Company accounted for its investment in Consensus common stock as an investment in an equity securities, at fair value under the fair value option, and the related fair value gains and losses were recognized in earnings. The fair value of Consensus common stock was readily available as Consensus is a publicly traded company. Concentration of Credit Risk The Company primarily invests its cash, cash equivalents, and marketable securities with major financial institutions primarily within the United States, Canada, United Kingdom, Australia, the European Union, Japan, Denmark, Sweden, and Norway. These investments are made in accordance with the Company’s investment policy with the principal objectives being preservation of capital, fulfillment of liquidity needs, and above market returns commensurate with preservation of capital. The Company’s investment policy also requires that investments in marketable securities be in only highly rated instruments, with limitations on investing in securities of any single issuer. However, these investments are not insured against the possibility of a total or near complete loss of earnings or principal and are inherently subject to the credit risk related to the continued credit worthiness of the underlying issuer and general credit market risks. As of December 31, 2024, the Company’s cash and cash equivalents that were maintained in demand deposit accounts in qualifying financial institutions are insured up to the limit determined by the applicable governmental agency. Variable Interest Entities (“VIE”s) A VIE requires consolidation by the entity’s primary beneficiary. The Company evaluates its investments in entities in which it is involved to determine if the entity is a VIE and if so, whether it holds a variable interest and is the primary beneficiary. The Company has determined that it holds a variable interest in its investment as a limited partner in the OCV Fund I, LP (“OCV Fund”, “OCV” or the “Fund”), as well as in another independent corporation. The Company has concluded that it will not consolidate these VIEs, as it is not the primary beneficiary. OCV qualifies as an investment company under ASC Topic 946, Financial Services, Investment Companies (“ASC 946”). Under ASC Topic 323, Investments — Equity Method and Joint Ventures , an investor that holds investments that qualify for specialized industry accounting for investment companies in accordance with ASC 946 should record its share of the earnings or losses, realized or unrealized, as reported by its equity method investees in the Consolidated Statements of Operations. Fair Value Measurements The Company complies with the provisions of FASB ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), in measuring fair value and in disclosing fair value measurements. ASC 820 provides a framework for measuring fair value and expands the disclosures required for fair value measurements of financial and non-financial assets and liabilities. The carrying values of cash and cash equivalents, accounts receivable, interest receivable, accounts payable, accrued expenses, interest payable, customer deposits, and long-term debt are reflected in the financial statements at cost. With the exception of certain investments and long-term debt, cost approximates fair value due to the short-term nature of such instruments. The fair value of the Company’s outstanding debt was determined using the quoted market prices of debt instruments with similar terms and maturities when available. As of the same dates, the carrying value of other noncurrent liabilities approximated fair value as the related interest rates approximate rates currently available to the Company. Property and Equipment Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets and is recorded in ‘Depreciation and amortization’ on the Consolidated Statements of Operations based on the function the underlying asset supports. The estimated useful lives of property and equipment range from one Leases The Company determines if an arrangement is a lease at inception. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of the Company’s leases do not provide an implicit rate, the Company uses the incremental borrowing rate based on the information available at commencement date of the lease in determining the present value of future payments. The operating lease right-of-use asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of twelve months or less are not recorded on the balance sheet and the Company recognizes lease expense for these leases on a straight-line basis over the lease term. There are lease agreements with lease and non-lease components, which are generally accounted for as a single lease component. Impairment or Disposal of Long-Lived Assets The Company accounts for long-lived assets, which include property and equipment, operating lease right-of-use assets, and identifiable intangible assets with finite useful lives (subject to amortization), in accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment (“ASC 360”), which requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparing the carrying amount of an asset to the expected undiscounted future net cash flows generated by the asset. If it is determined that the asset may not be recoverable, and if the carrying amount of an asset exceeds its estimated fair value, an impairment charge is recognized to the extent of the difference. The Company assesses the impairment of identifiable definite-lived intangibles and long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If the Company determined that the carrying value of definite-lived intangibles and long-lived assets may not be recoverable based upon the existence of one or more indicators of impairment, it would record an impairment equal to the excess of the carrying amount of the asset over its estimated fair value. Business Combinations and Valuation of Goodwill and Intangible Assets The Company applies the acquisition method of accounting for business combinations in accordance with GAAP and uses estimates and judgments to allocate the purchase price paid for acquisitions to the fair value of the assets, including identifiable intangible assets and liabilities acquired. Such estimates may be based on significant unobservable inputs and assumptions such as, but not limited to, future revenue growth rates, gross and operating margins, customer attrition rates, royalty rates, discount rates, and terminal growth rate assumptions. The Company uses established valuation techniques and may engage reputable valuation specialists to assist with the valuations. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. The Company tests goodwill for impairment annually on October 1st at the reporting unit level, or more frequently if indicators of impairment exist, or if a decision is made to dispose of a business. The Company evaluates its goodwill and indefinite-lived intangible assets for impairment pursuant to ASC Topic 350, Intangibles — Goodwill and Other (“ASC 350”), which provides that goodwill and other intangible assets with indefinite lives are not amortized but tested annually for impairment or more frequently if the Company believes indicators of impairment exist. In connection with the annual impairment test for goodwill, the Company has the option to perform a qualitative assessment in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it was more likely than not that the fair value of the reporting unit is less than its carrying amount, it then performs an impairment test of goodwill. The impairment test involves comparing the fair values of the applicable reporting units with their aggregate carrying values, including goodwill. The Company generally determines the fair value of its reporting units using a mix of an income approach and a market approach. If the carrying value of a reporting unit exceeds the reporting unit’s fair value, an impairment loss is recognized for the difference. During the years ended December 31, 2024, 2023, and 2022, the Company recorded goodwill impairments of $85.3 million, $56.9 million, and $27.4 million, respectively. Refer to Note 8 Goodwill and Intangible Assets for additional details. The Company did not have intangible assets with indefinite lives during years ended December 31, 2024, 2023, and 2022. Intangible assets resulting from the acquisitions of entities accounted for using the acquisition method of accounting are recorded at the estimated fair value of the assets acquired. Identifiable intangible assets are comprised of purchased customer relationships, trademarks, trade names, and other intangible assets, including developed technologies. The fair values of these identified intangible assets are based upon expected future cash flows or income, which take into consideration certain assumptions such as customer turnover, trade names, and patent lives. These determinations are primarily based upon the Company’s historical experience and expected benefit of each intangible asset. If it is determined that such assumptions are not accurate, then the resulting change will impact the fair value of the intangible asset. Trade names and trademarks are generally amortized on a straight-line basis with an estimated useful life ranging from two twenty three sixteen one ten Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following (in thousands): December 31, 2024 2023 Accounts payable $ 164,352 $ 123,256 Settlement payables, net 408,747 — Accrued employee related costs 55,800 50,068 Other accrued liabilities 41,870 43,612 Total Accounts payable and accrued expenses $ 670,769 $ 216,936 Settlement payables, net represent amounts owed to our customers related to services provided in the facilitation of gift card processing and program management whereby, as part of our services we collect from third-parties and pass through payment to our customers, net of a fee earned by the Company. Settlement payables, net is associated with our TDS business, which was acquired in 2024. Refer to Note 4 — Business Acquisitions for details. Contingent Consideration Certain of the Company’s acquisition agreements include contingent earn-out arrangements, which are generally based on the achievement of future income thresholds or other metrics. The contingent earn-out arrangements are based upon the Company’s valuations of the acquired companies and reduce the risk of overpaying for acquisitions if the projected financial results are not achieved. The fair values of these earn-out arrangements are included as part of the purchase price of the acquired companies on their respective acquisition dates. For each transaction, the Company estimates the fair value of contingent earn-out payments as part of the initial purchase price and records the estimated fair value of contingent consideration as a liability on the Consolidated Balance Sheets. The Company reviews and re-assesses the estimated fair value of contingent consideration on a quarterly basis, and the updated fair value could be materially different from the initial estimates or prior amounts. Changes in the estimated fair value of its contingent earn-out liabilities and adjustments to the estimated fair value related to changes in all other unobservable inputs are reported in general, administrative, and other related costs on our Consolidated Statements of Operations. Debt Issuance Costs and Debt Discount The Company capitalizes costs incurred with borrowing and issuance of debt securities and records debt issuance costs and discounts as a reduction to the debt amount. These costs and discounts are amortized and included in interest expense over the life of the borrowing using the effective interest method. In August 2020, the FASB issued ASU 2020-06. The provisions of this update simplifies the accounting for convertible instruments by removing certain separation models in ASC 470-20, Debt — Debt with Conversion and Other Options , for convertible instruments. The convertible debt instruments are accounted for as a single liability at the amortized cost if separation is no longer required unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC Topic 815, Derivatives and Hedging , or (2) a convertible debt instrument was issued at a substantial premium. Similarly, the debt discount, which is equal to the carrying value of the embedded conversion feature upon issuance, is no longer amortized into income as interest expense over the life of the instrument. Additionally, ASU 2020-06 requires the use of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share, which includes the effect of share settlement for instruments that may be settled in cash or shares, except for certain liability-classified share-based payment awards . On January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective method. The cumulative effect of the changes made on the Consolidated Balance Sheet upon this adoption increased the carrying amount of the 1.75% Convertible Notes (as defined in Note 9 Debt below) by approximately $85.9 million, increased retained earnings by approximately $23.4 million, reduced deferred tax liabilities by approximately $21.2 million and reduced additional paid-in capital by approximately $88.1 million. Revenue Recognition The Company recognizes revenue when the Company satisfies its obligation by transferring control of the goods or services to its customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Refer to Note 3 Revenues for additional details. Share-Based Compensation The Company accounts for share-based awards to employees and non-employees in accordance with the provisions of ASC Topic 718, Compensation — Stock Compensation (“ASC 718”), which requires compensation cost, measured at the grant date fair value, to be recognized over the employee’s requisite service period using the straight-line method. The measurement of share-based compensation expense is based on several criteria, including but not limited to the valuation model used and associated input factors, such as expected term of the award, stock price volatility, risk free interest rate, dividend rate, and award cancellation rate. Certain of these inputs are subjective and are determined using management’s judgment. If differences arise between the assumptions used in determining share-based compensation expense and the actual factors, which become known over time, the Company may change the input factors used in determining future share-based compensation expense. Any such changes could materially impact the Company’s results of operations in the period in which the changes are made and in periods thereafter. The amount of share-based compensation expense recognized in the Consolidated Statements of Operations is net of estimated forfeitures. The forfeiture rate is estimated at the grant date based on historical experience and revised, if necessary, in subsequent periods if actual forfeitures differ from the estimated rate. The expense ultimately recorded is for the awards that vest. 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, and processing fees. Direct costs exclude depreciation and amortization expenses for all periods presented. For the years ended December 31, 2024, 2023, and 2022, direct costs were $200.3 million, $185.7 million, and $184.5 million, respectively. Research, Development, and Engineering Research, development, and engineering costs are costs associated with software design and development and primarily consist of compensation for personnel. Costs incurred during the preliminary project stage are expensed as incurred. Costs for software development incurred during the application development stage are capitalized and amortized over their estimated useful lives. We do not capitalize any costs once the software is ready for its intended use. For the years ended December 31, 2024, 2023, and 2022, research, development, and engineering expenditures were $67.4 million, $68.9 million, and $74.1 million, respectively. Advertising Costs The Company incurs external advertising costs to promote its brands. These costs primarily consist of expenses related to digital advertising on websites and apps of third parties, creative services, trade shows and similar events, marketing expenses, and marketing intelligence expenses. Advertising costs are expensed as incurred. For the years ended December 31, 2024, 2023, and 2022 external advertising costs were $114.8 million, $120.8 million, and $128.8 million, respectively. Foreign Currency Most of the Company’s foreign subsidiaries use the local currency of their respective countries as their functional currency. Assets and liabilities are translated at exchange rates prevailing at the balance sheet dates. Revenues and expenses are translated into U.S. Dollars at average exchange rates for the period. Gains and losses resulting from translation are recorded as a component of accumulated other comprehensive income (loss). Net translation income (loss) was $12.4 million, $13.7 million, and $(32.5) million for the years ended December 31, 2024, 2023, and 2022, respectively. Realized gains and losses from foreign currency transactions are recognized within ‘Other income (loss), net’ on our Consolidated Statements of Operations. Foreign exchange (losses) gains amounted to $(1.0) million, $(3.9) million, and $8.2 million for the years ended December 31, 2024, 2023 and 2022, respectively. Income Taxes The Company’s income is subject to taxation in both the U.S. and numerous foreign jurisdictions. Significant judgment is required in evaluating the Company’s tax positions and determining its provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The Company establishes reserves for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. These reserves for tax contingencies are established when the Company believes that certain positions might be challenged despite the Company’s belief that its tax return positions are fully supportable. The Company adjusts these reserves in light of changing facts and circumstances, such as the outcome of a tax audit or lapse of a statute of limitations. The provision for income taxes includes the impact of reserve provisions and changes to reserves that are considered appropriate. The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes (“ASC 740”), which requires deferred tax assets and liabilities to be recognized using enacted tax rates for the effect of temporary differences between the book and tax basis of recorded assets and liabilities. ASC 740 also requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some or all of the net deferred tax assets will not be realized. Valuation allowances are reviewed quarterly based upon the facts and circumstances known at the time. In assessing valuation allowances, the Company reviews historical and future expected operating results and other factors, including its recent cumulative earnings experience, expectations of future taxable income by taxing jurisdiction and the carryforward periods available for tax reporting purposes, to determine whether it is more likely than not that deferred tax assets are realizable. ASC 740 provides guidance on the minimum threshold that an uncertain income tax benefit is required to meet before it can be recognized in the financial statements and applies to all income tax positions taken by a company. ASC 740 contains a two-step approach to recognizing and measuring uncertain income tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. If it is not more likely than not that the benefit will be sustained on its technical merits, no benefit will be recorded. Uncertain income tax positions that relate only to timing of when an item is included on a tax return are considered to have met the recognition threshold. The Company recognizes accrued interest and penalties related to uncertain income tax positions in income tax expense on its Consolidated Statements of Operations. Earnings Per Common Share (“EPS”) EPS is calculated pursuant to the two-class method as defined in ASC Topic 260, Earnings per Share (“ASC 260”), which specifies that all outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends or dividend equivalents are considered participating securities and should be included in the computation of EPS pursuant to the two-class method. Basic EPS is calculated by dividing net distributed and undistributed earnings allocated to common shareholders, excluding participating securities, by the weighted-average number of common shares outstanding. The Company’s participating securities consist of its unvested share-based payment awards that contain rights to non-forfeitable dividends or dividend equivalents. The Company applies the if-converted method for the diluted net income per share calculation of convertible debt instruments. Share Repurchases The Company accounts for share repurchases on a trade date basis by allocating cost in excess of par value between retained earnings and additional paid-in capital. The repurchased shares are constructively retired and returned to an authorized but unissued status. In August 2022, the U.S. government enacted the Inflation Reduction Act of 2022, which imposed a 1.0% excise tax on share repurchases made after December 31, 2022. As a result, the Company accrued excise tax in connection with the share repurchases it completed during years ended December 31, 2024 and December 31, 2023. Recent Accounting Pronouncements Recently issued applicable accounting pronouncements adopted In March 2020, the FASB issued 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

Revenues

Revenues	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following describes the nature of the Company’s primary types of revenue. Advertising and Performance Marketing Advertising and performance marketing revenues are earned primarily from the delivery of advertising services and from marketing, performance marketing, and production services. Revenues from the delivery of advertising services are earned on websites and applications that are owned and operated by the Company and on those websites and applications that are part of the Company’s advertising network. Revenues are primarily earned by generating traffic to the Company’s websites, apps, and third-party platforms on which brands of the Company have a presence and monetizing this traffic. The value provided to the customer is primarily derived from the provision of traffic the Company generates from its specific content within each vertical, as well as data obtained by the website or app traffic. Such revenues are generally recognized over the period in which the products or services are delivered. 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 vast majority of the Company’s advertising and performance marketing revenue is recognized on a gross basis as the Company primarily acts as a “principal” as defined under ASC Topic 606, Revenue from Contracts with Customer (“ASC 606”). Revenues recognized on a gross basis are 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; and (ii) through the Company’s lead-generation business. 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 client gift card programs where we collect the total value of the gift card on our customers’ behalf. Subscription and Licensing Revenues from subscriptions are earned through (i) the granting of access to, or delivery of, data products or services to customers; (ii) usage-based fees, and (iii) reselling various third-party solutions, primarily through the Company’s email security line of business. 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. Third-party solutions, along with the Company’s proprietary products, allow the Company to offer customers a variety of solutions to better meet the customer’s needs. 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. In instances where usage-based fees are charged, 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. Licensing revenues are earned 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. 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 the Company’s clients, revenues from the license of these assets are recognized at a point in time. Licensing revenues also include revenues from transactions involving the sale of perpetual software licenses, related software support, and maintenance. 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 they are available during the term of the support period. 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 vast majority of the subscription and licensing revenue is recognized on a gross basis as the Company primarily acts as a “principal” as defined under ASC 606. The Company records revenue on a gross basis with respect to revenue generated from the resale of various third-party solutions, primarily through its email security line of business, because the Company has control of the specified good or service prior to transferring control to the customer. 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 those relating to 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. 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 majority of the Company’s other revenue is recognized on a gross basis as the Company primarily acts as a “principal” as defined under ASC 606. The Company records revenue on a net basis with respect to games sold on third-party platforms. Disaggregated Revenues Revenues from external customers classified by revenue source are as follows (in thousands). Year ended December 31, Technology & Shopping 2024 (1) 2023 (1) 2022 (1) Advertising and performance marketing $ 345,655 $ 310,733 $ 354,545 Subscription and licensing 7,158 8,256 10,052 Other 9,069 11,568 20,332 Total Technology & Shopping revenues $ 361,882 $ 330,557 $ 384,929 Gaming & Entertainment Advertising and performance marketing $ 120,788 $ 114,074 $ 112,305 Subscription and licensing 59,468 54,747 54,020 Other 20 — — Total Gaming & Entertainment revenues $ 180,276 $ 168,821 $ 166,325 Health & Wellness Advertising and performance marketing $ 299,474 $ 309,182 $ 304,379 Subscription and licensing 49,538 41,185 21,244 Other 13,396 11,556 10,260 Total Health & Wellness revenues $ 362,408 $ 361,923 $ 335,883 Connectivity Advertising and performance marketing $ 11,926 $ 13,112 $ 16,353 Subscription and licensing 185,994 179,286 159,150 Other 15,700 19,120 15,751 Total Connectivity revenues $ 213,620 $ 211,518 $ 191,254 Cybersecurity & Martech Subscription and licensing $ 283,502 $ 291,209 $ 312,606 Other — — — Total Cybersecurity & Martech revenues $ 283,502 $ 291,209 $ 312,606 Corporate $ — $ — $ — Total Revenues $ 1,401,688 $ 1,364,028 $ 1,390,997 (1) Amounts presented are net of inter-segment revenues. The Company recorded $181.7 million and $160.1 million of revenue for the years ended December 31, 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 an evaluation to determine if those arrangements should be accounted for as a single contract. 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 variable consideration, such as commissions that are recognized in the period of the commissionable event. Payment terms vary by type and location of customers and the services offered. The time between invoicing and when payment is due is generally not significant. Due to the nature of the services provided, there are no obligations for returns. Advertising and performance marketing revenues consist primarily of performance obligations that are satisfied over time, where the customer simultaneously receives and consumes the benefit of the services provided. In certain instances, the Company provides content to its advertising partners and receives a revenue share based on the terms of the agreement. Revenue is recognized based on delivery of services over the contract period for advertising. The Company believes that the methods described are a faithful depiction of the transfer of goods and services. Depending on individual contracts with customers, revenues from advertising and performance marketing revenues are recognized over time as distinct performance obligations are satisfied, including when: • Online display and video advertising in form of impressions, video views and other means is placed for viewing on the Company’s owned-and-operated properties and on third-party sites. • Commissions are earned upon the sale of an advertised product. • Qualified sales leads are delivered. • Visitor “clicks through” an advertisement. Subscription and licensing revenues are earned from (i) subscription services with performance obligations that are satisfied over time; and (ii) licensing arrangements that have standalone functionality with performance obligations satisfied at a point in time, where the customer simultaneously receives and consumes the benefit of the services provided regardless of whether the customer uses the services. The Company believes that the methods described are a faithful depiction of the transfer of goods and services. Depending on the individual contracts with the customer, revenues for subscription and licensing services are recognized over the contract period as distinct performance obligations are satisfied, including when: • 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. • Access is granted to data products and services. • Continuing access to the content on our websites and apps is provided. The Company has concluded the best measure of progress toward the complete satisfaction of the performance obligation delivered over the time 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. Other revenues consist primarily of performance obligations that are satisfied at a point in time at which control for goods and services is transferred to a customer. The Company believes that the methods described are a faithful depiction of the transfer of goods and services. Transaction Price Allocation to Future Performance Obligations As of December 31, 2024, the aggregate amount of transaction price that is allocated to future performance obligations was approximately $71.9 million and is expected to be recognized as follows: 66% by December 31, 2025 and 34% 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 transaction price is a variable consideration that corresponds directly with the Company’s performance. Sales Taxes The Company has made an accounting policy election to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are (i) both imposed on and concurrent with a specific revenue-producing transaction and (ii) collected by the Company from a customer. Costs to Obtain a Contract The Company’s revenues are primarily generated from customer contracts that are for one year or less. Costs primarily consist of incentive compensation paid based on the achievements of sales targets in a given period for related revenue streams and are recognized in the month when the revenue is earned. Incentive compensation is paid on the issuance or renewal of the customer contract. As a practical expedient, for amortization periods which are determined to be one year or less, the Company expenses any incremental costs of obtaining the contract with a customer when incurred. For those customers with amortization periods determined to be greater than one year, the Company capitalizes and amortizes the expenses over the period of benefit. In addition, the Company partners with various affiliates in order to generate a portion of its revenue for certain lines of business. The commissions earned by the Company’s affiliates are incentive based and are paid on the acquisition of new customers in a given period. For those customers with amortization periods determined to be greater than one year, the Company capitalizes and amortizes the incentive over the period of benefit. As of December 31, 2024 and 2023, the Company capitalized approximately $14.2 million and $14.9 million, respectively, related to these costs and they are included in ‘Prepaid expenses and other current assets’ and ‘Other assets’ in the Consolidated Balance Sheets. During the years ended December 31, 2024, 2023, and 2022, the Company recognized expense of $14.6 million, $12.9 million, and $15.4 million respectively, related to the amortization of capitalized costs to obtain a contract with a customer. Practical Expedients Existence of a Significant Financing Component in a Contract If at contract inception, the Company expects that the period between payment by the customer and the transfer of promised goods or services by the Company to the customer will be one year or less, the Company does not assess whether a contract has a significant financing component. In addition, the Company has determined that the payment terms that the Company provides to its customers are structured primarily for reasons other than the provision of finance to the customer. The Company typically charges a single upfront amount for services because other payment terms would affect the nature of the risk assumed by the Company to provide service given the costs of the customer acquisition and the highly competitive and commoditized nature of the business it operates, which allows customers to easily move from one provider to another. This additional risk may make it uneconomical to provide the service.

Business Acquisitions

Business Acquisitions	12 Months Ended
	Dec. 31, 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, expand and diversify its service offerings, enhance its technology, and acquire skilled personnel. 2024 Acquisitions The Company completed the following acquisitions during the year ended December 31, 2024, paying the purchase price in cash in each transaction: (a) a purchase of 100% of the equity interest in TDS, acquired on February 5, 2024, a digital gifting and branded payments platform, which is reported within our Technology & Shopping 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 Technology & Shopping segment; and (c) two other immaterial acquisitions. 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 market’s 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 $365.0 million, or $219.0 million, net of cash acquired. The following table summarizes the allocation of the purchase consideration for the acquisition of TDS and CNET as of December 31, 2024 (in thousands): Valuation Assets and Liabilities TDS CNET Cash $ 142,957 $ — Accounts receivable and other current assets (1) 171,290 16,351 Intangible assets 108,340 101,000 Goodwill (1) 81,248 36,607 Deferred tax asset, noncurrent (2) — 11,412 Other assets 203 655 Accounts payable and other current liabilities (290,161) (3,819) Deferred tax liability, noncurrent (25,442) — Deferred revenue, noncurrent — (7,958) Other noncurrent liabilities (847) — Total $ 187,588 $ 154,248 (1) The fair value of the assets acquired includes accounts receivable of $170.7 million (including Settlement receivables, net of $166.8 million) for TDS and $15.6 million related to CNET, of which none is expected to be uncollectible. $4.5 million of the goodwill recognized is expected to be deductible for income tax purposes. (2) Deferred tax asset balance for CNET is presented within ‘Deferred income taxes’ in the ‘Liabilities and Stockholders’ Equity’ section on the Consolidated Balance Sheets. The amounts assigned to intangible assets by type for all acquisitions during the year ended December 31, 2024 are summarized in the table below (in thousands): Gross Carrying Value Weighted Average Estimated Life Customer relationships $ 146,215 10 years Trade names and trademarks 27,895 9 years Other purchased intangibles 43,793 5 years Total gross carrying value $ 217,903 The initial accounting for the 2024 acquisitions, excluding TDS, is incomplete due to the timing of available information and is subject to change. As of December 31, 2024, the Company has recorded provisional amounts for certain intangible assets (including customer relationships, trade names, and other purchased intangibles), preliminary acquisition date working capital, and related tax items. The accompanying Consolidated Statements of Operations reflects the results of operations of the 2024 acquisitions since the date of each respective acquisition. For the year ended December 31, 2024, the Company recorded $83.2 million of incremental revenue from the businesses acquired during 2024. Net income from continuing operations contributed by these acquisitions was not separately identifiable due to the Company’s integration activities and is impracticable to provide. 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. Years ended December 31, (in thousands, except per share data) 2024 2023 (unaudited) Revenues $ 1,470,182 $ 1,521,064 Net income $ 49,433 $ 22,206 Income per common share from continuing operations - Basic $ 1.11 $ 0.48 Income per common share from continuing operations - Diluted $ 1.11 $ 0.48 2023 Acquisitions The Company completed two immaterial acquisitions during the year ended December 31, 2023, paying the purchase price in cash in each transaction. The accompanying Consolidated Statements of Operations reflect the results of operations of the 2023 acquisitions since the date of each respective acquisition. Goodwill recognized associated with these acquisitions during the year ended December 31, 2023 was $6.5 million, all of which is expected to be deductible for income tax purposes. Approximately $7.2 million of definite-lived intangibles were recorded in connection with the acquisitions during the year ended December 31, 2023. During the year ended December 31, 2023, the Company recorded adjustments to the initial working capital and to the purchase accounting of certain prior period acquisitions due to the finalization of prior period acquisitions in the Health business which resulted in a net decrease in goodwill of $0.1 million. 2022 Acquisitions The Company completed the following acquisitions during the year ended December 31, 2022, paying the purchase price in cash in each transaction: (a) a purchase of 100% of equity interests of Lifecycle Marketing Group Limited, acquired on January 21, 2022, a portfolio of pregnancy and parenting brands, including Emma’s Diary and Health Professional Academy, reported within the Health & Wellness segment; (b) a purchase of 100% of equity interests of FitNow, Inc., acquired on June 2, 2022, a provider of weight loss products and support, reported within the Health & Wellness segment; and (c) four other immaterial acquisitions. The accompanying Consolidated Statements of Operations reflect the results of operations of the 2022 acquisitions since the date of each respective acquisition. For the year ended December 31, 2022, these acquisitions contributed $33.0 million to the Company’s revenues. Net income from continuing operations contributed by these acquisitions was not separately identifiable due to the Company’s integration activities and is impracticable to provide. Total consideration for all businesses acquired in 2022 was $151.4 million, or $121.7 million, net of cash acquired. The following table summarizes the allocation of the purchase consideration for all 2022 acquisitions as of December 31, 2022 (in thousands): Assets and Liabilities Valuation Accounts receivable $ 7,433 Prepaid expenses and other current assets 4,915 Property and equipment 369 Operating lease right-of-use assets, noncurrent 545 Trade names 12,839 Customer relationships 20,040 Goodwill (1) 95,737 Other intangibles 18,166 Other noncurrent assets 11 Accounts payable and accrued expenses (6,221) Deferred revenue (21,474) Deferred tax liability (10,140) Other noncurrent liabilities (516) Total $ 121,704 (1) Goodwill recognized associated with these acquisitions during the year ended December 31, 2022 is $95.7 million, of which $1.2 million is expected to be deductible for income tax purposes. The fair value of the assets acquired includes accounts receivable of $7.4 million, all of which was expected to be collectible. The Company did not acquire any other classes of receivables as a result of its acquisitions. Unaudited Pro Forma Financial Information for All 2022 Acquisitions The following unaudited pro forma information is not necessarily indicative of the Company’s consolidated results of operations in future periods or the results that actually would have been realized had the Company and the acquired businesses been combined companies during the periods presented. These pro forma results are estimates and exclude any savings or synergies that would have resulted from these business acquisitions had they occurred on January 1, 2021. This unaudited pro forma supplemental information includes incremental intangible asset amortization and other charges as a result of the acquisitions, net of the related tax effects. The supplemental information on an unaudited pro forma financial basis presents the combined results of the Company and its 2022 acquisitions as if each acquisition had occurred on January 1, 2021 (in thousands, except per share amounts): Year ended December 31, 2022 (unaudited) Revenues $ 1,407,300 Net income from continuing operations $ 64,877 Income per common share from continuing operations - Basic $ 1.38 Income per common share from continuing operations - Diluted $ 1.38 Deferred Acquisition Payments As of December 31, 2024, future payments associated with contractual obligations for holdback payments in connection with all business acquisitions are as follows (in thousands): Fiscal Year: 2025 $ 1,305 2026 363 $ 1,668

Investments

Investments	12 Months Ended
	Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consist of equity and debt securities. Investment in equity securities Following the Separation, the Company retained an interest in Consensus common stock. As of December 31, 2024 and December 31, 2023, the Company held approximately zero and 1.0 million shares, respectively, of the common stock of Consensus. During the year ended December 31, 2022, the Company completed the non-cash tax-free debt-for-equity exchanges of 2,800,000 shares of its common stock of Consensus for the extinguishment of $112.3 million of principal of the Company’s Term Loan Facilities (as defined in Note 9 Debt ), and related interest. During the year ended December 31, 2023, the Company sold 52,393 shares of common stock of Consensus in the open market. As of December 31, 2023, the carrying value of the investment in Consensus was $27.1 million, which was included in ‘Short-term investments’ on the 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 are recognized in earnings. During the second quarter of 2024, the Company sold its remaining 1,034,295 shares of Consensus in the open market. For the years ended December 31, 2024, 2023, and 2022, losses of $7.7 million, $28.1 million, and $53.9 million, respectively, were recorded in the Consolidated Statements of Operations. On July 31, 2023, the Company entered into an agreement to purchase $25.0 million of equity in Xyla, Inc. 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 December 31, 2024, the investment in Xyla has a carrying value of $25.3 million, including transaction costs, and is included in ‘Long-term investments’ in the 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 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 December 31, 2024, both the carrying value and the maximum exposure of the Company’s investment in corporate debt securities was approximately $17.8 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 December 31, 2024 and 2023 was approximately $2.8 million and $0.7 million, respectively. There were no investments in an unrealized loss position as of December 31, 2024 or December 31, 2023. During the years ended December 31, 2024, 2023, and 2022, the Company did not recognize any other-than-temporary impairment losses on its debt securities. Equity method investment On September 25, 2017, the Company entered into a commitment to invest in the OCV Fund. The Company recognizes its equity in the net earnings or losses relating to the investment in OCV on a one-quarter lag due to the timing and availability of financial information from OCV. If the Company becomes aware of a significant decline in value that is other-than-temporary, the loss will be recorded in the period in which the Company identifies the decline. During the years ended December 31, 2024, 2023, and 2022, the Company recognized income (loss) from equity method investment, net of $11.2 million, $(9.3) million, and $(7.7) million, net of tax expense (benefit), respectively. The gains and losses in the years presented were primarily the result of gains and losses in the underlying investments. As of December 31, 2024, both the carrying value and the maximum exposure of the Company’s equity method investment was approximately $115.0 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 within ‘Long-term investments’ in the 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 further 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	12 Months Ended
	Dec. 31, 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 a Level 1 input. On May 22, 2024, the Company sold its remaining investments in Consensus common stock (see Note 5 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 December 31, 2024 and 2023, the fair value was determined based upon various probability-weighted scenarios which included discount rate assumptions between 9% and 10%, depending on the probability scenario. In addition, the determination of fair value included a conversion timeframe of approximately six months to two years, depending on the probability scenario, as of December 31, 2024, and approximately one three 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 December 31, 2024 and 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): December 31, 2024 Level 1 Level 2 Level 3 Fair Value Carrying Value Assets: Cash equivalents: Money market and other funds $ 85,833 $ — $ — $ 85,833 $ 85,833 Long-term investments: Investment in corporate debt securities — — 17,788 17,788 17,788 Total assets measured at fair value $ 85,833 $ — $ 17,788 $ 103,621 $ 103,621 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 year ended December 31, 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 related to our contingent consideration arrangements and investment in corporate debt securities that are measured at fair value on a recurring basis (in thousands): Years ended December 31, 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) — 2,089 (200) 113 Payments — — (355) — Balance as of December 31 $ 2,834 $ 17,788 $ 2,834 $ 15,699 (1) The fair value adjustments to the contingent consideration arrangements in the table above were recorded within ‘General, administrative, and other related costs’ on the Consolidated Statements of Operations during the years ended December 31, 2024 and 2023. The fair value adjustments to the corporate debt securities in the table above were recorded within ‘Change in fair value on available-for-sale investments, net’ on the Consolidated Statements of Comprehensive Income during the years ended December 31, 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 8 — Goodwill and Intangible Assets for further information on a goodwill impairment charges recorded in the years ended December 31, 2024, 2023, and 2022. 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 9 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: December 31, 2024 2023 Carrying Value Fair Value Carrying Value Fair Value 4.625% Senior Notes $ 457,211 $ 420,935 $ 456,796 $ 405,408 1.75% Convertible Notes (1) $ 148,186 $ 139,976 $ 544,516 $ 519,492 3.625% Convertible Notes (1) $ 258,885 $ 259,200 $ — $ — (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 9 — Debt, and paid an aggregate of approximately $135.0 million in cash. Refer to Note 9 Debt for additional information.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, stated at cost, consists of the following (in thousands): December 31, 2024 2023 Computer hardware, software, and related equipment $ 546,777 $ 502,564 Furniture and equipment 4,820 2,836 Leasehold improvements 7,328 9,784 558,925 515,184 Less: Accumulated depreciation and amortization (361,710) (327,015) Total property and equipment, net $ 197,216 $ 188,169 Depreciation expense included in ‘Depreciation and amortization’ on our Consolidated Statements of Operations was $94.4 million, $92.1 million, and $76.7 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 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 years ended December 31, 2024 and 2023 are as follows (in thousands): Technology & Shopping Gaming & Entertainment Health & Wellness Connectivity Cybersecurity & Martech Consolidated Balance as of January 1, 2023 $ 346,684 $ 61,644 $ 399,982 $ 257,679 $ 525,485 $ 1,591,474 Goodwill acquired (Note 4 3,849 — 2,602 — — 6,451 Goodwill impairment (56,850) — — — — (56,850) Purchase accounting adjustments (1) 215 (219) (72) 4 — (72) Foreign exchange translation (246) 60 745 803 3,700 5,062 Balance as of December 31, 2023 $ 293,652 $ 61,485 $ 403,257 $ 258,486 $ 529,185 $ 1,546,065 Goodwill acquired (Note 4 117,855 6,811 — — 4,532 129,190 Goodwill removed due to sale of business (2) (3,983) — — — — (3,983) Goodwill impairment (85,273) — — — — (85,273) Foreign exchange translation (194) 5 (201) (1,544) (3,815) (5,741) Balance as of December 31, 2024 $ 322,057 $ 68,301 $ 403,056 $ 256,942 $ 529,902 $ 1,580,258 (1) Purchase accounting adjustments relate to measurement period adjustments to goodwill in connection with prior business acquisitions (see Note 4 Business Acquisitions ). (2) During the year ended December 31, 2024, in a cash transaction, the Company sold an international business at Technology & Shopping, which resulted in $4.0 million of goodwill being removed in connection with this sale. During the year ended December 31, 2024, the Company reassessed the fair value of certain reporting units within the Technology & Shopping, Health & Wellness, and Cybersecurity & Martech reportable segments as a result of a sustained decline in the Company’s stock price, and forecasted reduction in revenue and 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 Technology & Shopping 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 year ended December 31, 2024. During the year ended December 31, 2023, the Company reassessed the fair value of certain reporting units within the Technology & Shopping 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 the reporting unit exceeded its fair value, and the Company recorded an impairment of approximately $56.9 million during the year ended December 31, 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. Goodwill as of December 31, 2024 and 2023 reflects accumulated impairment losses of $169.5 million and $84.2 million, respectively, in the Technology & Shopping reportable segment. Intangible Assets Subject to Amortization As of December 31, 2024, intangible assets subject to amortization relate primarily to the following (in thousands): Historical Accumulated Net Trade names and trademarks $ 375,449 $ 222,430 $ 153,019 Customer relationships 836,254 620,926 215,328 Other purchased intangibles 421,128 363,726 57,402 Total $ 1,632,831 $ 1,207,082 $ 425,749 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 Expected amortization expenses for intangible assets subject to amortization at December 31, 2024 are as follows (in thousands): Fiscal Year: 2025 $ 114,658 2026 96,383 2027 73,690 2028 49,319 2029 32,343 Thereafter 59,356 Total expected amortization expense $ 425,749 Amortization expense included in ‘Depreciation and amortization’ on our Consolidated Statements of Operations was approximately $117.5 million, $144.9 million, and $156.7 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consists of the following (in thousands): December 31, 2024 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 (5,676) (2,463) Deferred issuance costs (1) (2,336) (6,263) Total long-term debt $ 864,282 $ 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 December 31, 2024 and December 31, 2023, respectively, $0.9 million and $5.5 million of carrying amount of deferred issuance costs on the 1.75% Convertible Notes as of December 31, 2024 and December 31, 2023, respectively, and $0.7 million of carrying amount of deferred issuance costs on the 3.625% Convertible Notes as of December 31, 2024. At December 31, 2024, future principal and interest payments for debt are as follows (in thousands): Principal Interest 2025 $ — $ 33,425 2026 149,109 33,426 2027 — 30,816 2028 263,147 26,047 2029 — 21,277 Thereafter 460,038 21,276 Total $ 872,294 $ 166,267 Interest expense was $35.3 million, $41.6 million, and $37.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. 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 after deducting 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. Before October 15, 2023, and following certain equity offerings, the Company also may redeem up to 40% of the 4.625% Senior Notes at a price equal to 104.625% of the principal amount, plus accrued and unpaid interest, if any, up to, but excluding the redemption date. The Company may make such redemption only if, after such redemption, at least 50% of the aggregate principal amount of the 4.625% Senior Notes remains outstanding. In addition, at any time prior to October 15, 2025, the Company may redeem some or all of the 4.625% Senior Notes at a price equal to 100% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date, plus an applicable “make-whole” premium. The discount and deferred issuance costs are being amortized, at an effective interest rate of 4.7%, to interest expense through the maturity date. The Indenture contains covenants that restrict the Company’s ability to (i) pay dividends or make distributions on the Company’s common stock or repurchase the Company’s capital stock; (ii) make certain restricted payments; (iii) create liens or enter into sale and leaseback transactions; (iv) enter into transactions with affiliates; (v) merge or consolidate with another company; and (vi) transfer and sell assets. These covenants contain certain exceptions. Restricted payments are applicable only if the Company and subsidiaries designated as restricted subsidiaries have a net leverage ratio of greater than 3.5 to 1.0. In addition, if such net leverage ratio is in excess of 3.5 to 1.0, the restriction on restricted payments is subject to various exceptions, including the total aggregate amount not exceeding the greater of (A) $250 million and (B) 50.0% of EBITDA for the most recently ended four fiscal quarter period ended immediately prior to such date for which internal financial statements are available. The Company is in compliance with its debt covenants for the 4.625% Senior Notes as of December 31, 2024. Prior to 2022, the Company repurchased $83.3 million in aggregate principal of its 4.625% Senior Notes. Repurchases of 4.625% Senior Notes on the open market (excluding those from a tender offer) during the periods presented were as follows (in thousands): Year ended December 31, 2022 Principal repurchased $ 181,238 Aggregate purchase price $ 167,661 (Gain) loss on repurchase (1) $ (12,060) (1) Presented within ‘Gain (loss) on debt extinguishment, net’ on the Consolidated Statements of Operations. Cumulatively as of December 31, 2024, the Company repurchased approximately $290.0 million in aggregate principal of its 4.625% Senior Notes. The following table provides additional information on the 4.625% Senior Notes (in thousands): December 31, 2024 2023 Principal amount of 4.625% Senior Notes $ 460,038 $ 460,038 Less: Unamortized discount (2,148) (2,463) Less: Deferred issuance costs (679) (779) Net carrying amount of 4.625% Senior Notes $ 457,211 $ 456,796 The following table provides the components of interest expense related to 4.625% Senior Notes (in thousands): Years ended December 31, 2024 2023 2022 Coupon interest expense $ 21,269 $ 21,159 $ 24,500 Amortization of discount and debt issuance costs 415 396 442 Total interest expense related to 4.625% Senior Notes $ 21,684 $ 21,555 $ 24,942 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 December 31, 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 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 year ended December 31, 2023, the Company recorded $7.7 million of interest expense related to the 1.75% Convertible Notes for such additional interest. The Company paid $7.0 million of this interest obligation to the trustee under the indenture for the 1.75% Convertible Notes in August 2023 and the remaining $0.7 million in November 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 1.75% 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 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. 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 December 31, 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 Consolidated Balance Sheets. Prior to the Separation, the conversion rate on the 1.75% Convertible Notes was 7.9864 shares of the Company’s common stock for each $1,000 principal amount of 1.75% Convertible Notes, which represented a conversion price of approximately $125.21 per share of the Company’s common stock. The Separation constituted an event under the 1.75% Convertible Notes that required an adjustment and the conversion rate increased to 9.3783 shares of the Company’s common stock for each $1,000 principal amount of 1.75% Convertible Notes which represents a conversion price of approximately $106.63 per share of the Company’s common stock. As of December 31, 2024 and December 31, 2023, this rate equated to 1,398,391 shares and 5,158,071 shares, respectively. 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 and unpaid interest. In addition, upon the occurrence of a “Make-Whole Fundamental Change” (as defined in the 1.75% Convertible Note Indenture), in certain circumstances, 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. The Company may not redeem the 1.75% Convertible Notes prior to November 1, 2026, and no sinking fund is provided for the 1.75% Convertible Notes. The 1.75% Convertible Notes are the Company’s general senior unsecured obligations and rank: (i) senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the 1.75% Convertible Notes; (ii) equal in right of payment to the Company’s existing and future indebtedness that is not so subordinated; (iii) effectively junior to any of the Company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and (iv) structurally junior to all existing and future indebtedness and other liabilities incurred by the Company’s subsidiaries. The following table provides additional information related to the 1.75% Convertible Notes (in thousands): December 31, 2024 2023 Principal amount of 1.75% Convertible Notes $ 149,109 $ 550,000 Less: Deferred issuance costs (923) (5,484) Net carrying amount of 1.75% Convertible Notes $ 148,186 $ 544,516 The following table provides the components of interest expense related to the 1.75% Convertible Notes (in thousands): Years ended December 31, 2024 2023 2022 Coupon interest expense $ 6,429 $ 17,369 $ 9,776 Amortization of debt issuance costs 1,251 1,863 1,858 Total interest expense related to 1.75% Convertible Notes $ 7,680 $ 19,232 $ 11,634 Accounting for the 1.75% Convertible Notes On January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective method. As a result of this adoption, the Company de-recognized the remaining unamortized debt discount of $87.3 million on the 1.75% Convertible Notes and, therefore, no longer recognizes any amortization of debt discounts as interest expense. In connection with the issuance of the 1.75% Convertible Notes, the Company incurred $12.9 million of deferred issuance costs, which primarily consisted of the underwriters’ discount, legal and other professional service fees. Of the total deferred issuance costs incurred, $10.1 million was attributable to the liability component and is being amortized to interest expense through the maturity date at an effective interest rate of 5.5% . The remaining $2.8 million of the deferred issuance costs were netted with the equity component in additional paid-in capital at the issuance date. Upon adoption of ASU 2020-06, the Company reclassified the $2.8 million from additional paid-in-capital to long-term liability and recorded a cumulative adjustment to retained earnings for amortization from the issuance date through January 1, 2022. 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 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 to interest expense through the maturity date at an effective interest rate of 4.2%. 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 5 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 December 31, 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 Consolidated Balance Sheets. As of December 31, 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 additional information related to the 3.625% Convertible Notes (in thousands): December 31, 2024 Principal amount of 3.625% Convertible Notes $ 263,147 Less: Unamortized discount (3,528) Less: Deferred issuance costs (734) Net carrying amount of 3.625% Convertible Notes $ 258,885 The following table provides the components of interest expense related to the 3.625% Convertible Notes (in thousands): Year ended December 31, 2024 Coupon interest expense $ 4,372 Amortization of discount and debt issuance costs 571 Total interest expense related to 3.625% Convertible Notes $ 4,943 Credit Agreement On April 7, 2021, the Company entered into a $100.0 million Credit Agreement (the “Credit Agreement”). Subject to certain conditions and approvals, the Company had the right, from time to time, to request increases in the commitments under the Credit Agreement in an aggregate amount up to $250.0 million, for a total aggregate commitment of up to $350.0 million. 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 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 ranges from 0.50% to 1.25% and the applicable margin relating to any Term SOFR loan ranges from 1.50% to 2.25%, in each case, depending on the total leverage ratio of the Company. The Company is permitted to make voluntary prepayments of the Credit Facility at any time without payment of a premium or penalty. The Credit Agreement is secured by an associated collateral agreement that provides for a lien on the majority of the Company’s assets and the assets of the guarantors, in each case, subject to customary exceptions. 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 December 31, 2024. As of each December 31, 2024 and December 31, 2023, net availability under the Credit Agreement was $348.9 million and $100.0 million, respectively, net of letters of credit. On June 10, 2022 (the “Term Loan Funding Date”), the Company entered into a Fifth Amendment to its Credit Agreement with MUFG Union Bank, N.A, as administrative agent and collateral agent and the lenders party thereto to effectuate a debt-for-equity exchange. The Fifth Amendment to the Credit Agreement provided for the Term Loan Facility in an aggregate principal amount of $90.0 million and certain other changes to the Credit Agreement. The Term Loan Facility had a maturity date that was 60 days after the Term Loan Funding Date. The Term Loan Facility bore interest at a base rate equal to the greater of (x) the Federal Funds Effective Rate, as defined in the Credit Agreement, in effect on such day plus 0.5% per annum, (y) the rate of interest per annum most recently announced by the Agent, as defined in the Credit Agreement, as its U.S. Dollar “Reference Rate” and (z) one month LIBOR plus 1%, provided that the base rate for any term loan made under the Credit Agreement shall be greater of clause (x) and (y) above in each case. During June 2022, the Company borrowed approximately $90.0 million under the Term Loan Facility and completed the non-cash debt-for-equity exchange of 2,300,000 shares of its common stock of Consensus to settle its obligation of $90.0 million outstanding aggregate principal amount of the Term Loan Facility plus an immaterial amount of interest. On September 15, 2022 (the “Term Loan Two Funding Date”), the Company entered into a Sixth Amendment to its Credit Agreement with MUFG Union Bank, N.A, as administrative agent and collateral agent and the lenders party thereto to effectuate a debt-for-equity exchange. The Sixth Amendment to the Credit Agreement provided for the Term Loan Two Facility in an aggregate principal amount of approximately $22.3 million and certain other changes to the Credit Agreement. The Term Loan Two Facility had a maturity date that was 60 days after the Term Loan Two Funding Date. The Term Loan Two Facility bore interest at a base rate equal to the greater of (x) the Federal Funds Effective Rate, as defined in the Credit Agreement, in effect on such day plus 0.5% per annum, (y) the rate of interest per annum most recently announced by the Agent, as defined in the Credit Agreement, as its U.S. Dollar “Reference Rate” and (z) one month LIBOR plus 1%, provided that the base rate for any term loan made under the Credit Agreement shall be greater of clause (x) and (y) above in each case. During September 2022, the Company borrowed approximately $22.3 million under the Term Loan Two Facility and completed the non-cash debt-for-equity exchange of 500,000 shares of its common stock of Consensus to settle its obligation of $22.3 million outstanding aggregate principal amount of the Term Loan Two Facility plus an immaterial amount of interest. As of December 31, 2022, the Company recorded a loss on extinguishment of debt of approximately $0.6 million, related to the debt-for-equity exchanges, which is presented within ‘Gain (loss) on debt extinguishment, net’ on our Consolidated Statements of Operations.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases The Company leases certain facilities and equipment under non-cancelable operating leases which expire at various dates through 2031. Office and equipment leases are typically for terms of three During the year ended December 31, 2024, 2023, and 2022, the Company recorded impairments of $0.9 million, $2.2 million, and $1.0 million, respectively on its operating lease right of use assets within various reportable segments primarily related to exiting certain lease space as the Company regularly evaluates its office space requirements in light of more of its workforce working from home as part of a “remote” or “partial remote” work model. The impairments were determined by comparing the fair value of the impacted right-of-use asset to the carrying value of the asset as of the impairment measurement date, as required under ASC Topic 360, Property, Plant, and Equipment . The fair value of the right-of-use asset was based on the estimated sublease income for the affected facilities taking into consideration the time it will take to obtain a sublease tenant, the applicable discount rate and the sublease rate which represent Level 3 unobservable inputs. The impairments are presented in ‘General, administrative, and other related costs’ on the Consolidated Statements of Operations. In certain agreements in which the Company leases office space where the Company is the tenant, it subleases the site to various other companies through a sublease agreement. Operating right-of-use assets are included in ‘Other assets’ on the Consolidated Balance Sheets. Operating lease liabilities are included in ‘Other current liabilities’ and ‘Other noncurrent liabilities’, respectively, on the Consolidated Balance Sheets as follows (in thousands): December 31, 2024 2023 Operating lease right-of-use assets $ 26,249 $ 24,564 Operating lease liabilities, current $ 8,666 $ 15,801 Operating lease liabilities, noncurrent 21,797 16,626 Total operating lease liabilities $ 30,463 $ 32,427 The components of lease expense are as follows (in thousands): December 31, 2024 2023 Operating lease cost $ 10,760 $ 15,065 Short-term lease cost (1) 519 1,070 Total lease cost $ 11,279 $ 16,135 (1) The Company made an election to account for a short-term lease payments on a straight-line basis over the term of the lease. Other supplemental operating lease information consists of the following: December 31, 2024 2023 Operating leases: Weighted average remaining lease term 3.9 years 3.0 years Weighted average discount rate 4.28 % 3.27 % As of December 31, 2024, maturities of operating lease liabilities were as follows (in thousands): 2025 $ 9,371 2026 7,716 2027 5,419 2028 3,708 2029 3,796 Thereafter 3,995 Total lease payments $ 34,005 Less: Imputed interest 3,542 Present value of operating lease liabilities $ 30,463 Sublease Total sublease income for the years ended December 31, 2024, 2023, and 2022 was $5.3 million, $6.0 million, and $6.8 million, respectively. Total estimated aggregate sublease income to be received in the future is $3.6 million.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 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 overall 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 be 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 $25.2 million and $28.1 million as of December 31, 2024 and December 31, 2023, respectively, which are included in ‘Accounts payable and accrued expenses’ and ‘Other noncurrent liabilities’ on the 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 December 31, 2024, any potential range of loss was not estimable.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The continuing operations income tax (expense) benefit consisted of the following (in thousands): Years ended December 31, 2024 2023 2022 Current: Federal $ (33,333) $ (29,040) $ (42,698) State (8,625) (8,179) (12,184) Foreign (18,234) (16,940) (16,066) Total current (60,192) (54,159) (70,948) Deferred: Federal 14,684 20,817 12,667 State 2,144 7,177 (1,577) Foreign 1,994 2,023 1,901 Total deferred 18,822 30,017 12,991 Income tax expense from continuing operations $ (41,370) $ (24,142) $ (57,957) A reconciliation of the statutory federal income tax rate with the Company’s continuing operations effective income tax rate is as follows: Years ended December 31, 2024 2023 2022 Statutory tax rate 21.0 % 21.0 % 21.0 % State income taxes, net 5.9 6.5 5.0 Foreign rate differential 4.3 3.1 1.0 Foreign income inclusion 3.1 6.0 5.4 Foreign tax credit (3.1) (4.7) (5.1) Reserve for uncertain tax positions (6.1) (5.9) (3.2) Valuation allowance 6.3 — — Impact on deferred taxes of enacted tax law and rate changes — 0.6 1.4 Tax credits and incentives (6.5) (8.4) (5.0) Impairment of goodwill 19.2 16.0 — Mark-to market on investment in Consensus — — 22.1 Return to provision adjustments (2.3) (5.1) 1.1 Executive compensation 3.2 2.4 1.5 Other (0.6) 0.7 (1.0) Effective tax rates 44.4 % 32.2 % 44.2 % The effective tax rate for continuing operation for the year ended December 31, 2024 differs from the federal statutory rate primarily due to the expense recognized for book purposes on the goodwill impairment related to two of the Company’s reporting units that resulted in no corresponding tax benefit and a tax expense recognized due to recording a valuation allowance related to the Company’s U.S. capital loss carryforwards. The detrimental impact to our effective tax rate was partially offset by a tax benefit recognized as a result of a decrease in the reserve for uncertain tax positions that was primarily due to the lapse of the statute of limitations. The effective tax rate for continuing operations for the year ended December 31, 2023 differs from the federal statutory rate primarily due to the expense recognized for book purposes on the goodwill impairment related to one of the Company’s reporting units that resulted in no corresponding tax benefit and had a detrimental impact to the effective tax rate. The detrimental impact to our effective tax rate was partially offset by a tax benefit recognized as a result of a decrease in the reserve for uncertain tax positions that was primarily due to the lapse of the statute of limitations. The effective tax rate for continuing operations for the year ended December 31, 2022 differs from the federal statutory rate primarily due to a book-tax difference related to the loss recognized for accounting purposes related to the Company’s shares held in Consensus stock. The Company recognized a deferred tax liability resulting in tax expense of $13.4 million on the outside basis difference between the book basis exceeding the tax basis of the Investment in Consensus on October 7, 2022 due to future disposals of the shares being subject to tax based on guidance and requirements set out by the Internal Revenue Service. The effective tax rate also differs from the federal statutory tax rate due to income earned in the United States also being subject to income taxes in various state jurisdictions with statutory tax rates that can range from 2.5 percent to 11.5 percent. This increase in the effective income tax rate is offset by a decrease in the net reserve for uncertain tax positions during 2022 and a tax benefit claimed in the United States related to a deduction for foreign-derived intangible income. The decrease in the reserve for uncertain tax positions is primarily due to the lapse of the statute of limitations for U.S. tax reserves. The Organization for Economic Co-operation and Development (“OECD”) established a Pillar Two Framework that was supported by over 130 countries worldwide. On December 15, 2022, the European Union (“EU”) Member States adopted the EU’s Pillar Two Directive, which generally provides for a minimum effective tax rate of 15% with effective dates of January 1, 2025 for certain provisions of the directive. A significant number of other countries are also implementing similar legislation. The Company has analyzed the impact of the Pillar Two framework’s corporate minimum income tax rate of 15% and does not expect that it will have a material effect on the Company’s liability for corporate taxes and the Company’s consolidated effective tax rate. Deferred tax assets and liabilities result from differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. Temporary differences and carryforwards which give rise to deferred tax assets and liabilities from continuing operations are as follows (in thousands): Years ended December 31, 2024 2023 Deferred tax assets: Net operating loss and other carryforwards $ 14,923 $ 15,762 Tax credit carryforwards 3,727 4,743 Accrued expenses 12,019 14,629 Allowance for bad debt 2,514 2,003 Share-based compensation expense 8,634 6,097 Operating lease liabilities 5,717 6,320 Basis difference in fixed assets 39,242 22,191 Deferred revenue 3,413 2,420 Convertible debt 2,952 — State taxes 2,526 1,974 Other 1,675 2,468 97,342 78,607 Less: valuation allowance (7,669) (1,720) Total deferred tax assets $ 89,673 $ 76,887 Deferred tax liabilities: Operating lease right-of-use assets (5,040) (4,618) Basis difference in intangible assets (103,676) (86,712) Unrealized gains on investments (13,364) (13,512) Prepaid insurance (2,111) (2,835) Other (4,014) (5,982) Total deferred tax liabilities (128,205) (113,659) Net deferred tax liabilities $ (38,532) $ (36,772) The Company had approximately $89.7 million and $76.9 million in deferred tax assets, net of valuation allowances as of December 31, 2024 and 2023, respectively, related primarily to capital loss carryforwards, net operating loss carryforwards, capitalized research and development expenses, fixed asset basis, and accrued expenses being treated differently between its financial statements and its tax returns. Based on the weight of available evidence, the Company assesses whether it is more likely than not that some portion or all of a deferred tax asset will not be realized. If necessary, the Company records a valuation allowance sufficient to reduce the deferred tax asset to the amount that is more likely than not to be realized. The deferred tax assets should be realized through future operating results and the reversal of temporary differences. The Company had a valuation allowance on deferred tax assets from continuing operations of $7.7 million and $1.7 million as of December 31, 2024 and 2023, respectively. The rollforward of the valuation allowance on the deferred tax assets from continuing operations is as follows (in thousands): Years ended December 31, 2024 2023 2022 Beginning balance $ 1,720 $ 1,699 $ 1,812 Charges to costs and expenses 5,949 21 — Write-offs and recoveries — — (113) Ending balance $ 7,669 $ 1,720 $ 1,699 As of December 31, 2024, the Company had federal net operating loss carryforwards (“NOLs”) of $3.2 million, after considering substantial restrictions on the utilization of these NOLs due to “ownership changes”, as defined in the Internal Revenue Code of 1986, as amended. The Company estimates that all of the above-mentioned federal NOLs will be available for use before their expiration. Approximately $3.2 million of the NOLs expire through 2031 depending on the year the loss was incurred. As of December 31, 2024, the Company’s deferred tax assets included federal capital loss limitation carryforwards of $23.4 million that begin to expire in 2026 through 2029. During 2024, the Company recognized a valuation allowance on the entire federal capital loss limitation carryforward. In addition, as of December 31, 2024, the Company had available state research and development tax credit carryforwards of $4.1 million, which last indefinitely. The Company had no foreign tax credit carryforwards as of December 31, 2024. The Company has not provided for deferred taxes on approximately $178.5 million of undistributed earnings from foreign subsidiaries as of December 31, 2024 or with respect to items such as foreign withholding taxes, state income tax or foreign exchange gain or loss that would be due when cash is actually repatriated to the U.S. because those foreign earnings are considered permanently reinvested in the business or may be remitted substantially free of any additional taxes. In addition, because of the various avenues in which to repatriate the earnings, it is not practicable to determine the amount of the unrecognized deferred tax liability related to the undistributed earnings if eventually remitted. Certain taxes are prepaid during the year and, where appropriate, included within ‘Prepaid expenses and other current assets’ on the Consolidated Balance Sheets. The Company’s prepaid taxes were $6.4 million and $4.7 million at December 31, 2024 and 2023, respectively. Income from continuing operations before income taxes included income from domestic operations of $25.1 million, $25.8 million, and $71.8 million for the years ended December 31, 2024, 2023, and 2022, respectively, and income from foreign operations of $68.1 million, $49.2 million, and $59.4 million for the years ended December 31, 2024, 2023, and 2022, respectively. Uncertain Income Tax Positions Tax positions are evaluated in a two-step process. The Company first determines whether it is more likely than not that a tax position will be sustained upon examination. If a tax position meets the more-likely-than-not recognition threshold, it is then measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company classifies gross interest and penalties and unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year as non-current liabilities in the Consolidated Balance Sheets. As of December 31, 2024, the total amount of unrecognized tax benefits for continuing operations was $22.6 million, of which $21.2 million, if recognized, would affect the Company’s effective tax rate. As of December 31, 2023, the total amount of unrecognized tax benefits for continuing operations was $29.2 million, of which $27.4 million, if recognized, would affect the Company’s effective tax rate. As of December 31, 2022, the total amount of unrecognized tax benefits for continuing operations was $34.2 million, of which $32.7 million, if recognized, would affect the Company’s effective tax rate. The aggregate changes in the balance of unrecognized tax benefits, which excludes interest and penalties, for the years ended December 31, 2024, 2023, and 2022, is as follows (in thousands): Years ended December 31, 2024 2023 2022 Beginning balance $ 29,158 $ 34,208 $ 39,527 Increases related to tax positions during a prior year 275 218 — Decreases related to tax positions taken during a prior year (540) (1,023) (2,816) Increases related to tax positions taken in the current year 635 744 819 Decreases related to expiration of statute of limitations (6,911) (4,989) (3,322) Ending balance $ 22,617 $ 29,158 $ 34,208 The Company includes interest and penalties related to unrecognized tax benefits within ‘Income tax expense’ on the Consolidated Statements of Operations. As of December 31, 2024, 2023, and 2022, the total amount of interest and penalties accrued was $7.4 million, $7.1 million, and $6.3 million, respectively, which is classified as a liability for uncertain tax positions on the Consolidated Balance Sheets. In connection with the liability for unrecognized tax benefits, the Company recognized interest and penalty expense during the years ended December 31, 2024, 2023, and 2022 of $0.3 million, $0.7 million, and $0.7 million, respectively. Uncertain income tax positions are reasonably possible to significantly change during the next 12 months as a result of completion of income tax audits and expiration of statutes of limitations. At this point it is not possible to provide an estimate of the amount, if any, of significant changes in reserves for uncertain income tax positions as a result of the completion of income tax audits that are reasonably possible to occur in the next 12 months. In addition, the Company cannot currently estimate the amount of, if any, uncertain income tax positions which will be released in the next 12 months as a result of expiration of statutes of limitations due to ongoing audits. As a result of ongoing federal, state and foreign income tax audits (discussed below), it is reasonably possible that the Company’s entire reserve for uncertain income tax positions for the periods under audit will be released. It is also reasonably possible that the Company’s reserves will be inadequate to cover the entire amount of any such income tax liability. We conduct business on a global basis and as a result, one or more of our subsidiaries file income tax returns in the U.S. federal and in multiple state, local, and foreign tax jurisdictions. Our U.S. federal income tax returns for years 2012 through 2016 are under various stages of audit by the IRS. We are also under audit for various U.S. state and local tax purposes. With limited exception, our significant foreign tax jurisdictions are no longer subject to an income tax audit by the various tax authorities for tax years prior to 2021.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity On August 6, 2020, the Company’s Board of Directors approved a program authorizing the repurchase of up to ten million shares of 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 years ended December 31, 2024, 2023, and 2022, the Company repurchased 3,500,000, 1,585,846, and 736,536 shares, respectively, under the 2020 Program, at an aggregate cost of $181.8 million, $104.9 million, and $71.3 million, respectively (including excise tax). Cumulatively as of December 31, 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 December 31, 2024 was 6,241,308 shares. Periodically, participants in the Company’s stock plans surrender to the Company shares of stock to pay the exercise price or to satisfy tax withholding obligations arising upon the exercise of stock options or the vesting of restricted stock. During the years ended December 31, 2024, 2023 and 2022, the Company purchased and retired 80,241, 69,622, and 72,886 shares at an aggregate cost of approximately $4.1 million, $4.6 million, and $7.0 million, respectively, from plan participants for this purpose.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 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 December 31, 2024, 435,135 shares underlying options and 1,173,213 shares of restricted stock units were outstanding under the Plans. As of December 31, 2024, there were 3,617,530 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 the effects of share-based compensation expense in the Consolidated Statements of Operations during the periods presented (in thousands): Year ended December 31, 2024 2023 2022 Direct costs $ 248 $ 262 $ 341 Sales and marketing 3,756 2,686 3,083 Research, development, and engineering 3,665 3,245 2,503 General, administrative, and other related costs 33,246 25,727 20,674 Total share-based compensation expense $ 40,915 $ 31,920 $ 26,601 Stock Options As of December 31, 2024, 2023, and 2022, options to purchase 326,351, 271,959, and 217,567 shares of common stock were exercisable under and outside of the Plans, at weighted average exercise prices of $68.97, $68.97, $68.97, respectively. Stock options generally expire after 10 years and vest over a 5 to 8 year period. All stock option grants are approved by “outside directors” within the meaning of Internal Revenue Code Section 162(m). Stock option activity for the years ended December 31, 2024, 2023, and 2022 is summarized as follows: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Options outstanding at January 1, 2022 440,574 $ 68.45 Granted — $ — Exercised (5,439) $ 27.15 Canceled — $ — Options outstanding at December 31, 2022 435,135 $ 68.97 Granted — $ — Exercised — $ — Canceled — $ — Options outstanding at December 31, 2023 435,135 $ 68.97 Granted — $ — Exercised — $ — Canceled — $ — Options outstanding at December 31, 2024 435,135 $ 68.97 3.0 $ 0 Exercisable at December 31, 2024 326,351 $ 68.97 3.0 $ 0 Vested and expected to vest at December 31, 2024 102,128 $ 68.97 3.0 $ 0 There were no stock option exercises in 2024 and 2023. The total intrinsic values of options exercised during the year ended December 31, 2022 was $0.4 million. The total fair value of options vested during the years ended December 31, 2024, 2023, and 2022 was $1.0 million, $1.0 million, and $1.1 million, respectively. Cash received from options exercised under all share-based payment arrangements for the year ended December 31, 2022 was $0.1 million. The actual tax benefit realized for the tax deductions from option exercises under the share-based payment arrangements totaled $0.3 million for the year ended December 31, 2022. As of December 31, 2024, there was $1.0 million of total unrecognized compensation expense related to nonvested share-based compensation options granted under the Plans. That expense is expected to be recognized ratably over a weighted average period of 1.1 years (i.e., the remaining requisite service period). 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 specific 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 years ended December 31, 2023 and 2022 the Company awarded 167,606 and 100,193, respectively, PSUs at stock price targets ranging from $83.61 to $103.76 per share. During the year ended December 31, 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 the 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 will be recognized over the requisite service period using the graded-vesting method regardless of whether the market condition is satisfied, provided that the requisite service period has been completed. The per share weighted average grant-date fair values of PSUs granted during the years ended December 31, 2024, 2023, and 2022 were $87.17, $70.06, and $87.11, respectively. The assumptions used in determining the weighted-average fair values of PSUs granted during the periods presented are as follows: December 31, 2024 2023 2022 Underlying stock price at valuation date $ 66.88 $ 77.80 $ 99.32 Expected volatility 32.9 % 32.0 % 36.7 % Risk-free interest rate 4.3 % 4.1 % 1.8 % Restricted stock award (“RSA”) and PSA activity for the years ended December 31, 2024, 2023 and 2022 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, 2022 220,782 $ 72.07 163,181 $ 36.27 Granted — — — — Vested (67,762) 74.13 — — Canceled (4,920) 77.92 — — Nonvested at December 31, 2022 148,100 $ 70.93 163,181 $ 36.27 Granted — — — — Vested (52,060) 72.29 — — Canceled (322) 77.75 — — Nonvested at December 31, 2023 95,718 $ 70.17 163,181 $ 36.27 Granted — — — — Vested (40,735) 71.73 — — Canceled (154) 77.75 — — Nonvested at December 31, 2024 54,829 $ 68.97 163,181 $ 36.27 Restricted stock unit activity for the years ended December 31, 2024, 2023 and 2022 is set forth below: RSUs PSUs Number of shares Weighted average grant date fair value Number of shares (1) Weighted average grant date fair value Outstanding at January 1, 2022 299,023 $ 107.52 60,891 $ 86.78 Granted 154,022 94.47 100,193 87.11 Vested (84,259) 108.04 (30,435) 91.23 Canceled (24,831) 94.02 (10,250) 89.73 Outstanding at December 31, 2022 343,955 $ 102.53 120,399 $ 87.04 Granted 305,549 76.80 167,606 70.06 Vested (111,185) 101.41 — — Canceled (31,894) 83.82 (17,233) 77.98 Outstanding at December 31, 2023 506,425 $ 88.36 270,772 $ 77.09 Granted 413,053 64.60 308,970 87.17 Vested (175,564) 90.68 — — Canceled (91,687) 74.44 (58,756) 79.88 Outstanding at December 31, 2024 652,227 74.59 520,986 82.73 Vested and expected to vest at December 31, 2024 610,299 $ 74.53 499,185 $ 82.54 (1) Represents the number of shares at 100% achievement. Aggregate intrinsic value of shares outstanding as of December 31, 2024 was $35.4 million and $28.3 million for RSUs and PSUs, respectively. Aggregate intrinsic value for shares vested and expected to vest was $33.2 million and $27.1 million for RSUs and PSUs, respectively. As of December 31, 2024, the Company had unrecognized share-based compensation cost of approximately $50.8 million associated with these restricted stock awards and restricted stock units. This cost is expected to be recognized over a weighted-average period of 1.1 years for restricted stock awards and 2.0 years for restricted stock units. The total fair value of restricted stock and restricted stock units vested during the years ended December 31, 2024, 2023, and 2022 was $15.9 million, $11.3 million, and $12.4 million, respectively. The actual tax benefit realized for the tax deductions from the vesting of restricted stock and restricted stock units totaled $2.3 million, $1.9 million, and $2.8 million, respectively, for the years ended December 31, 2024, 2023, and 2022. Employee Stock Purchase Plan The Purchase Plan provides for the issuance of a maximum of two million shares of the Company’s common stock. Under the Purchase Plan, eligible employees can have up to 15% of their earnings withheld, up to certain maximums, to be used to purchase shares of the Company’s common stock at certain plan-defined dates. The price of the Company’s common stock purchased under the Purchase Plan for the six-month offering periods is equal to 85% of the lesser of the fair market value of a share of the common stock of the Company on the beginning or the end of the offering period. Employees are immediately vested in the shares purchased at the purchase date. During 2024, 2023, and 2022, 174,706, 74,390, and 139,992 shares were purchased under the Purchase Plan, respectively, at a price ranging from $46.84 to $48.88 per share during 2024. Cash received upon the issuance of the Company’s common stock under the Purchase Plan was $8.4 million, $8.7 million, and $9.4 million for the years ended December 31, 2024, 2023, and 2022, respectively. As of December 31, 2024, 819,505 shares were available under the Purchase Plan for future issuance. The Company determined that a plan provision exists which allows for the more favorable of two exercise prices, commonly referred to as a “look-back” feature. The purchase price discount and the look-back feature cause the Purchase Plan to be compensatory and the Company to recognize compensation expense. The compensation cost is recognized on a straight-line basis over the requisite service period, or the six-month offering period. The Company used the Black-Scholes option pricing model to calculate the estimated fair value of the purchase right issued under the Purchase Plan. The expected volatility is based on historical volatility of the Company’s common stock. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a term equal to the expected term of the option assumed at the date of grant. The Company uses an annualized dividend yield based upon the per share dividends declared by its Board of Directors. Estimated forfeiture rates were 12.1%, 12.5%, and 11.8% as of December 31, 2024, 2023, and 2022, respectively. The share-based compensation expense related to the Purchase Plan has been estimated utilizing the following weighted average assumptions: December 31, 2024 2023 2022 Risk-free interest rate 5.3% 3.4% 1.2% Expected term (in years) 0.5 0.5 0.5 Expected volatility 31.4% 38.3% 40.7%

Defined Contribution 401(k) Sav

Defined Contribution 401(k) Savings Plan	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Defined Contribution 401(k) Savings Plan	Defined Contribution 401(k) Savings Plan The Company has several 401(k) Savings Plans that qualify under Section 401(k) of the Internal Revenue Code. Eligible employees may contribute a portion of their salary through payroll deductions, subject to certain limitations. The Company may make annual contributions at its sole discretion to these plans. For the years ended December 31, 2024, 2023, and 2022, the Company made contributions of $4.9 million, $5.2 million, and $5.1 million, respectively, to these 401(k) Savings Plans.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The components of basic and diluted earnings per share from continuing operations are as follows (in thousands, except share and per share data): Years ended December 31, 2024 2023 2022 Numerator for basic and diluted net income per common share: Net income from continuing operations $ 63,047 $ 41,503 $ 65,466 Less: Net income available to participating securities (1) — (2) (20) Plus: Convertible Notes interest expense (after-tax) — — — Net income available to the Company’s common shareholders from continuing operations $ 63,047 $ 41,501 $ 65,446 Denominator: Basic weighted-average outstanding shares of common stock 44,457,071 46,400,941 46,954,558 Diluted effect of: Equity incentive plans 62,622 63,320 71,291 Convertible debt — — — Diluted weighted-average outstanding shares of common stock 44,519,693 46,464,261 47,025,849 Net income per share from continuing operations: Basic $ 1.42 $ 0.89 $ 1.39 Diluted $ 1.42 $ 0.89 $ 1.39 Weighted-average shares excluded from diluted weighted-average shares outstanding: Anti-dilutive stock options and restricted stock 1,069,443 629,807 — Anti-dilutive convertible debt 4,892,773 5,158,071 5,158,071 (1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s businesses are based on the organizational structure used by the Chief Executive Officer of the Company, who acts as the chief operating decision maker (“CODM”). Following changes to our internal reporting structure, the Company concluded that it has five operating segments which are now presented as the following five reportable segments: 1) Technology & Shopping, 2) Gaming & Entertainment, 3) Health & Wellness, 4) Connectivity, and 5) Cybersecurity & Martech. The Technology & Shopping reportable segment primarily generates revenues from advertising on publishing platforms and commerce sites and through publishing of specialized technology-based content and provision of authoritative content relating to products, services, shopping and savings. The Gaming & Entertainment reportable segment generates revenue by providing authoritative content relating to video games and entertainment and includes a video game and entertainment website focusing on games (including game help), films, anime, television, comics, technology, and other media. It also generates revenues through subscriptions to and storefront sales of video games, ebooks, and software, as well as through related advertising. The Health & Wellness reportable segment generates revenues from a collection of interactive tools and mobile applications that are designed to enable consumers to manage a broad array of health and wellness needs on a daily basis, including medical conditions, pregnancy, diet, and fitness, and from a collection of educational and professional development services, news, and information for healthcare professionals. The Connectivity reportable segment includes several data and services businesses that sit at the center of the broadband economy and are sources of information on internet connectivity and network performance and primarily generates revenues through the granting of access to, or delivery of, data products or services to customers and the sale of perpetual software licenses, related software support, and maintenance. The Cybersecurity & Martech reportable segment generates revenues from cloud-based Software-as-a-Service offerings for various communication, messaging, security, privacy, customer marketing, and other needs of end-users. The accounting policies of the reportable segments are the same as those described in Note 2 Basis of Presentation and Summary of Significant Accounting Policies . The Company evaluates performance of all of its reportable segments based on its ‘Income from operations’ and the CODM uses ‘Income from operations’ to assess performance, make operating decisions, and allocate resources, including employees, property, and financial or capital resources, for each reportable segment. On a monthly basis, the CODM considers forecast-to-actual variances when making decisions about allocating capital and personnel-related resources to each reportable segment. Segment results presented below are exclusive of inter-segment revenues and inter-segment expenses, which are immaterial. The CODM does not use Balance Sheet information in connection with operating and investment decisions and as such that information is not presented. The CODM does use capital expenditures by reportable segment in connection with operating and investment decisions. Information on reportable segments revenues is as follows (in thousands): Years Ended December 31, 2024 2023 2022 Revenue by reportable segment: Technology & Shopping $ 361,882 $ 330,557 $ 384,929 Gaming & Entertainment 180,276 168,821 166,325 Health & Wellness 362,408 361,923 335,883 Connectivity 213,620 211,518 191,254 Cybersecurity & Martech 283,502 291,209 312,606 Total segment revenues 1,401,688 1,364,028 1,390,997 Corporate — — — Total revenues $ 1,401,688 $ 1,364,028 $ 1,390,997 The descriptions of significant reportable segment expenses shown in the following tables are as follows: • Salaries, benefits, and other employee expenses include employee compensation expenses for salaries, bonuses, benefits, payroll taxes, commissions, share-based compensation, severance costs, other related employee costs. • Cloud computing, software, and other related expenses include costs associated with cloud computing, software purchases, web hosting, database hosting, and other computer related costs. • Advertising and related marketing expenses include advertising relationships with an array of online service providers, marketing expenses, and other audience extension costs. • Partner payments include expense associated with revenue sharing arrangements, content fees, and royalties. • Professional and other-third party services include expenses for outside providers including freelancers, consultants, legal costs, and other professional services. Significant reportable segment expenses are set forth in the tables below (in thousands): Year ended December 31, 2024 Technology & Shopping Gaming & Entertainment Health & Wellness Connectivity Cybersecurity & Martech Total operating costs and expenses Salaries, benefits, and other employee expenses $ 139,293 $ 45,294 $ 115,509 $ 53,172 $ 77,518 $ 430,786 Cloud computing, software, and other related expenses 28,086 5,630 13,903 14,849 40,009 102,477 Advertising and marketing related expenses 51,418 12,226 39,199 2,898 21,799 127,540 Partner payments 7,063 27,262 38,736 932 21,063 95,056 Professional and other third-party services 20,455 5,908 8,730 14,356 17,228 66,677 Goodwill impairment 85,273 — — — — 85,273 Depreciation and amortization 83,424 10,733 52,766 31,882 33,025 211,830 Other 17,942 (1) 19,222 (2) 26,358 (3) 16,157 (4) 17,899 (5) 97,578 Total segment operating costs and expenses 432,954 126,275 295,201 134,246 228,541 1,217,217 Corporate (6) 70,823 Total operating costs and expenses $ 1,288,040 Year ended December 31, 2023 Technology & Shopping Gaming & Entertainment Health & Wellness Connectivity Cybersecurity & Martech Total operating costs and expenses Salaries, benefits, and other employee expenses $ 121,721 $ 43,224 $ 109,401 $ 55,492 $ 75,340 $ 405,178 Cloud computing, software, and other related expenses 23,580 3,974 11,599 9,865 37,402 86,420 Advertising and marketing related expenses 55,185 9,468 42,477 3,296 24,189 134,615 Partner payments 7,721 26,637 33,842 730 19,120 88,050 Professional and other third-party services 15,025 3,629 10,604 13,199 18,211 60,668 Goodwill impairment 56,850 — — — — 56,850 Depreciation and amortization 83,271 10,368 59,870 31,793 52,618 237,920 Other 17,702 (1) 14,222 (2) 30,555 (3) 26,552 (4) 21,119 (5) 110,150 Total segment operating costs and expenses 381,055 111,522 298,348 140,927 247,999 1,179,851 Corporate (6) 51,566 Total operating costs and expenses $ 1,231,417 Year ended December 31, 2022 Technology & Shopping Gaming & Entertainment Health & Wellness Connectivity Cybersecurity & Martech Total operating costs and expenses Salaries, benefits, and other employee expenses $ 131,808 $ 43,386 $ 99,808 $ 44,908 $ 77,909 $ 397,819 Cloud computing, software, and other related expenses 25,517 3,426 10,172 9,509 34,985 83,609 Advertising and marketing related expenses 61,380 10,626 39,366 2,790 27,187 141,349 Partner payments 9,572 29,965 32,175 — 23,207 94,919 Professional and other third-party services 11,953 1,964 9,990 10,575 22,404 56,886 Goodwill impairment 27,369 — — — — 27,369 Depreciation and amortization 93,187 10,045 55,981 25,445 48,714 233,372 Other 20,578 (1) 13,488 (2) 22,176 (3) 19,665 (4) 27,238 (5) 103,145 Total segment operating costs and expenses 381,364 112,900 269,668 112,892 261,644 1,138,468 Corporate (6) 53,588 Total operating costs and expenses $ 1,192,056 (1) Other Technology & Shopping operating costs and expenses consist primarily of credit card processing fees, campaign fulfillment costs, travel and entertainment costs, office expenses, bad debt expense, and certain allocated overhead expenses. (2) Other Gaming & Entertainment operating costs and expenses consist primarily of credit card processing fees, inventory-related costs, campaign fulfillment costs, travel and entertainment costs, office expenses, bad debt expense, and certain allocated overhead expenses. (3) Other Health & Wellness operating costs and expenses consist primarily of app-store fees, credit card processing fees, campaign fulfillment costs, travel and entertainment costs, office expenses, bad debt expense, and certain allocated overhead expenses. (4) Other Connectivity operating costs and expenses consist primarily of inventory-related costs, credit card processing fees, inventory related costs, campaign fulfillment costs, travel and entertainment costs, office expenses, bad debt expense, and certain allocated overhead expenses. (5) Other Cybersecurity & Martech operating costs and expenses consist primarily of credit card processing fees, telecommunication backbone costs, travel and entertainment costs, office expenses, bad debt expense, and certain allocated overhead expenses. (6) Corporate includes costs associated with general, administrative, and other expenses (including some depreciation and amortization) that are managed on a global basis and that are not directly attributed to any particular segment. Information on (loss) income from operations is set forth in the table below (in thousands). Years ended December 31, 2024 2023 2022 (Loss) income from operations by reportable segment: Technology & Shopping $ (71,072) $ (50,498) $ 3,565 Gaming & Entertainment 54,001 57,299 53,425 Health & Wellness 67,207 63,575 66,215 Connectivity 79,374 70,591 78,362 Cybersecurity & Martech 54,961 43,210 50,962 Total segment income from operations 184,471 184,177 252,529 Corporate (1) (70,823) (51,566) (53,588) Income from operations $ 113,648 $ 132,611 $ 198,941 (1) Corporate includes costs associated with general, administrative, and other expenses that are managed on a global basis and that are not directly attributable to any particular segment. Information on capital expenditures is set forth in the table below (in thousands). Years ended December 31, 2024 2023 2022 Capital expenditures: Technology & Shopping $ 13,609 $ 17,778 $ 25,088 Gaming & Entertainment 5,298 5,891 6,008 Health & Wellness 36,553 35,070 31,559 Connectivity 24,742 25,182 22,394 Cybersecurity & Martech 25,062 24,712 21,094 Total from reportable segments 105,264 108,633 106,143 Corporate 1,371 96 11 Total capital expenditures $ 106,635 $ 108,729 $ 106,154 The Company maintains operations in the U.S., Canada, Ireland, the United Kingdom, India, and other countries. Geographic information about the U.S. and all other countries for the reporting periods is presented below. Such information attributes revenues based on jurisdictions where revenues are reported (in thousands). Years ended December 31, 2024 2023 2022 Revenues: United States $ 1,165,571 $ 1,137,857 $ 1,181,936 All other countries 236,117 226,171 209,061 Total $ 1,401,688 $ 1,364,028 $ 1,390,997 Long-lived assets, excluding goodwill and other intangible assets are as follows (in thousands): December 31, 2024 2023 Long-lived assets: United States $ 178,732 $ 161,913 All other countries 44,733 50,820 Total $ 223,465 $ 212,733

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 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): Years ended December 31, 2024 2023 2022 Non-cash investing activity: Property and equipment, accrued but unpaid $ — $ 55 $ 150 Right-of-use assets acquired in exchange for operating lease obligations $ 13,372 $ 1,597 $ 4,130 Purchase of equity investments with common stock $ — $ 13,500 $ — Disposition of Consensus common stock (1) $ — $ — $ 112,286 Non-cash financing activity: Debt principal settled in exchange for Consensus common stock (1) $ — $ — $ 112,286 Increase in fair value of conversion feature on 3.625% Convertible Notes $ 4,001 $ — $ — Excise tax on share repurchases $ 1,099 $ — $ — (1) During the year ended December 31, 2022, the Company disposed $160.1 million of its investment in Consensus in exchange for $112.3 million of debt and recorded $47.8 million of loss on investment, net. Supplemental data (in thousands): Years ended December 31, 2024 2023 2022 Interest paid $ 28,856 $ 38,653 $ 36,168 Income taxes paid, net of refunds $ 68,731 $ 64,594 $ 59,543 Operating cash outflows related to lease liabilities were as follows (in thousands): Years ended December 31, 2024 2023 2022 Operating cash outflows related to lease liabilities $ 17,167 $ 23,230 $ 26,921

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income The following table summarizes the changes in accumulated balances of other comprehensive loss (income), net of tax, for the years ended December 31, 2024, 2023, and 2022 (in thousands): Unrealized Gains (Losses) on Investments Foreign Currency Translation Total Balance as of January 1, 2022 $ 169 $ (57,391) (57,222) Other comprehensive income (loss) before reclassifications 272 (32,479) (32,207) Consensus separation — 4,056 4,056 Balance as of December 31, 2022 $ 441 $ (85,814) $ (85,373) Other comprehensive income before reclassifications 96 13,657 13,753 Balance as of December 31, 2023 $ 537 $ (72,157) $ (71,620) Other comprehensive income (loss) before reclassifications 1,575 (12,426) (10,851) Balance as of December 31, 2024 $ 2,112 $ (84,583) $ (82,471) There were no reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2024, 2023, and 2022.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Consensus Following the Separation (see Note 2 Basis of Presentation and Summary of Significant Accounting Policies) , the Company retained an approximate 19.9% interest in Consensus common stock. Throughout the year ended December 31, 2022, the Company disposed of a significant portion of its investment in Consensus common stock resulting in Consensus no longer being a related party after September 30, 2022. Related party transactions with Consensus through September 30, 2022 are discussed in Note 5 Investments. In connection with the Separation, Ziff Davis and Consensus entered into several agreements that govern the relationship of the parties following the Separation, including a separation and distribution agreement, a transition services agreement, a tax matters agreement, an employee matters agreement, an intellectual property license agreement, and a stockholder and registration rights agreement. The transition services agreement governs services including certain information technology services, finance and accounting services, and human resource and employee benefit services. The agreed-upon charges for such services were generally intended to allow the providing company to recover all costs and expenses of providing such services, and nearly all such services were terminated without extension twelve months after the Separation. During the year ended December 31, 2022, the Company recorded an offset to expense of approximately $1.2 million from Consensus related to the transition services agreement within ‘General, administrative, and other related costs’ within the Consolidated Statements of Operations. Further, the Company assigned its lease of office space in Los Angeles, California to Consensus. Ziff Davis remained the lessee under this lease and its obligations remained in place through October 7, 2022, after which time Consensus took over the lease in full. During the year ended December 31, 2022, the Company recorded an offset to lease expense of approximately $1.5 million related to this lease. However, Consensus paid the landlord directly and not Ziff Davis. OCV OCV is considered a related party because it is an investment that is accounted for by the equity method. On September 25, 2017, the Company entered into a commitment to invest $200.0 million (approximately 76.6% of equity) in the OCV Fund. The primary purpose of the OCV Fund is to provide a limited number of select investors with the opportunity to realize long-term appreciation from public and private companies, with a particular focus on the technology and life science industries. The general activities of the OCV Fund is to buy, sell, hold, and otherwise invest in securities of every kind and nature and rights and options with respect thereto, including, without limitation, stock, notes, bonds, debentures, and evidence of indebtedness; to exercise all rights, powers, privileges, and other incidents of ownership or possession with respect to securities held or owned by the OCV Fund; to enter into, make and perform all contracts and other undertakings; and to engage in all activities and transactions as may be necessary, advisable, or desirable to carry out the foregoing. The manager, OCV Management, LLC, and general partner of the OCV Fund are entities with respect to which Richard S. Ressler, former Chairman of the Board of the Company, is indirectly the majority equity holder. Mr. Ressler’s tenure with the Board ended as of May 10, 2022. As a limited partner in the OCV Fund, prior to the settlement of certain litigation generally related to the Company’s investment in the OCV Fund in January 2022, the Company paid an annual management fee to the manager equal to 2.0% of capital commitments. In addition, subject to the terms and conditions of the Fund’s limited partnership agreement, once the Company has received distributions equal to its invested capital, the OCV Fund’s general partner would be entitled to a carried interest equal to 20%. The OCV Fund has a six year investment period, during which any incremental investments can be made, subject to certain exceptions. The commitment was approved by the Audit Committee of the Board in accordance with the Company’s related-party transaction approval policy. At the time of the settlement of the litigation (see Note 11 Commitments and Contingencies ), the Company had invested approximately $128.8 million in the OCV Fund. In connection with the settlement of the litigation, among other terms, no further capital calls will be made in connection with the Company’s investment in the OCV Fund, nor will any further management fees be paid by the Company to the manager.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 63,047	$ 41,503	$ 63,757

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 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

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We recognize the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information systems and protect the confidentiality, integrity, and availability of our and our customer’s data and information assets. As such, we have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program includes a cybersecurity incident response plan. We design and assess our program based on International Organization for Standardization (“ISO”) and National Institute of Standards and Technology (“NIST”) information security risk management frameworks. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the above frameworks as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels, and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. Our cybersecurity risk management program includes: • risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment; • a security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents; • the use of external service providers, where appropriate, to assess, test, or otherwise assist with aspects of our security controls; • cybersecurity awareness training of our employees, incident response personnel, and senior management, including through the use of third-party providers for regular mandatory trainings; • a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and • a third-party risk management process for service providers, suppliers, and vendors. Although we have designed our cybersecurity program and governance procedures above to mitigate cybersecurity risks, we face cybersecurity risks, threats and attacks that could materially affect our operations, business strategy, results of operations, or financial condition. For further details on the exposures related to these risks, see the section titled “Risk Factors” within this Annual Report on Form 10-K.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We recognize the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information systems and protect the confidentiality, integrity, and availability of our and our customer’s data and information assets. As such, we have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program includes a cybersecurity incident response plan. We design and assess our program based on International Organization for Standardization (“ISO”) and National Institute of Standards and Technology (“NIST”) information security risk management frameworks. This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the above frameworks as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels, and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board of Directors considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee the oversight of cybersecurity and other information technology risks. The Audit Committee oversees management’s implementation of our cybersecurity risk management program.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee reports to the full Board of Directors regarding its activities, including those related to cybersecurity. The full Board of Directors also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from our Chief Information Security Officer (“CISO”), internal security staff, or external experts as part of the Board of Directors’ continuing education on topics that impact public companies.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee receives quarterly reports from management on our cybersecurity risks. In addition, management updates the Audit Committee, as necessary, regarding any material cybersecurity incidents, as well as certain incidents with lesser impact potential. The Audit Committee reports to the full Board of Directors regarding its activities, including those related to cybersecurity. The full Board of Directors also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from our Chief Information Security Officer (“CISO”), internal security staff, or external experts as part of the Board of Directors’ continuing education on topics that impact public companies.
Cybersecurity Risk Role of Management [Text Block]	The Audit Committee reports to the full Board of Directors regarding its activities, including those related to cybersecurity. The full Board of Directors also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from our Chief Information Security Officer (“CISO”), internal security staff, or external experts as part of the Board of Directors’ continuing education on topics that impact public companies. Our management team, including our Chief Technology Officer and CISO, is responsible for assessing and managing our material risks from cybersecurity threats. The team has a primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our current Chief Technology Officer has over 25 years of experience in the field of technology, including cybersecurity. His in-depth knowledge and experience are instrumental in developing and executing our cybersecurity strategies. Our CISO has over 25 years of experience in various roles in cybersecurity and information technology. Our management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include receiving briefings from internal security personnel; analyzing threat intelligence
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our management team, including our Chief Technology Officer and CISO, is responsible for assessing and managing our material risks from cybersecurity threats. The team has a primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our current Chief Technology Officer has over 25 years of experience in the field of technology, including cybersecurity. His in-depth knowledge and experience are instrumental in developing and executing our cybersecurity strategies. Our CISO has over 25 years of experience in various roles in cybersecurity and information technology.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Audit Committee receives quarterly reports from management on our cybersecurity risks. In addition, management updates the Audit Committee, as necessary, regarding any material cybersecurity incidents, as well as certain incidents with lesser impact potential. The Audit Committee reports to the full Board of Directors regarding its activities, including those related to cybersecurity. The full Board of Directors also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from our Chief Information Security Officer (“CISO”), internal security staff, or external experts as part of the Board of Directors’ continuing education on topics that impact public companies.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of Ziff Davis and its direct and indirect wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, including judgments about investment classifications and the reported amounts of net revenue and expenses during the reporting period. The Company believes that its most significant estimates are those related to revenue recognition, valuation and impairment of investments, its assessment of ownership interests as variable interest entities and the related determination of consolidation, share-based compensation expense, fair value of assets acquired and liabilities assumed in connection with business combinations, long-lived and intangible asset impairment, contingent consideration, income taxes and contingencies, and allowance for credit losses. On an ongoing basis, management evaluates its estimates based on historical experience and on various other factors that the Company believes to be reasonable under the circumstances. Actual results could materially differ from those estimates.
Consensus, Inc. Spin-Off and Discontinued Operations	Consensus, Inc. Spin-Off and Discontinued Operations On September 21, 2021, the Company announced that its Board of Directors approved its previously announced separation of the cloud fax business (the “Separation”) into an independent publicly traded company, Consensus Cloud Solutions, Inc. (“Consensus”). During the year ended December 31, 2022, the Company recorded $1.7 million in income tax expense within ‘(Loss) income from discontinued operations, net of income taxes’ within the Consolidated Statement of Operations related to the finalization of state tax returns related to the Separation.
Reclassifications	Reclassifications
Segment Reporting	Segment Reporting ASC Topic 280, Segment Reporting (“ASC 280”), establishes standards for the way that public business enterprises report information about operating segments in their annual consolidated financial statements and requires that those enterprises report selected information about operating segments in interim financial reports. ASC 280 also establishes standards for related disclosures about products and services, geographic areas and major customers. The Company’s business segments are based on the organization structure used by the chief operating decision maker for making operating and investment decisions and for assessing performance.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers the balance of its investment in funds that substantially hold securities that mature within three months or less from the date the Company purchases these securities to be cash equivalents. The carrying amount of cash and cash equivalents either approximates fair value due to the short-term maturity of these instruments or are at fair value.
Accounts Receivable, net	Accounts Receivable, net Accounts receivable, net consisted of the following (in thousands): December 31, 2024 2023 Settlement receivables, net $ 296,553 $ — Trade receivables, net 363,670 337,703 Accounts receivable, net $ 660,223 $ 337,703 Settlement receivables, net represent amounts due from third parties that are collected by the Company and passed through to our customers, net of a fee earned by the Company, related to services provided in the facilitation of gift card processing and program management. Settlement receivables, net is associated with our TDS Gift Cards (“TDS”) business, which was acquired in 2024. Refer to Note 4 — Business Acquisitions for details.
Allowances for Credit Losses	Allowances for Credit Losses The Company maintains an allowance for credit losses on accounts receivable, which is recorded as a reduction to accounts receivable. Changes in the allowance are classified as ‘General, administrative, and other related costs’ in the Consolidated Statements of Operations. The Company assesses collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when it identifies specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Company considers historical collectability based on past due status. It also considers customer-specific information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. On an ongoing basis, management evaluates the adequacy of these reserves.
Investments	Investments The Company accounts for its investments in debt securities in accordance with ASC Topic 320, Investments — Debt Securities (“ASC 320”). The Company’s available-for-sale debt securities are carried at an estimated fair value with any unrealized gains or losses, net of taxes, included in accumulated other comprehensive loss on our Consolidated Balance Sheets. All debt securities are accounted for on a specific identification basis. Available-for-sale debt securities with an amortized cost basis in excess of estimated fair value are assessed to determine what amount of that difference, if any, is caused by expected credit losses. Expected credit losses on available-for-sale debt securities are recognized in loss on investments, net on our Consolidated Statements of Operations, and any remaining unrealized losses, net of taxes, are included in accumulated comprehensive loss on our Consolidated Balance Sheets. The Company accounts for its investments in equity securities in accordance with ASC Topic 321, Investments — Equity Securities (“ASC 321”) which requires the accounting for equity investments, other than those accounted for under the equity method of accounting, generally be measured at fair value for equity securities with readily determinable fair values. Equity securities without a readily determinable fair value, which are not accounted for under the equity method of accounting, are measured at their cost, less impairment, if any, and adjusted for observable price changes arising from orderly transactions in the same or similar investment from the same issuer. Any unrealized gains or losses will be reported within earnings on our Consolidated Statements of Operations. The Company assesses whether an other-than-temporary impairment loss on an investment has occurred due to declines in fair value or other market conditions. Refer to Note 5 Investments for additional information.
Concentration of Credit Risk	Concentration of Credit Risk
Variable Interest Entities (“VIE”s)	Variable Interest Entities (“VIE”s) A VIE requires consolidation by the entity’s primary beneficiary. The Company evaluates its investments in entities in which it is involved to determine if the entity is a VIE and if so, whether it holds a variable interest and is the primary beneficiary. The Company has determined that it holds a variable interest in its investment as a limited partner in the OCV Fund I, LP (“OCV Fund”, “OCV” or the “Fund”), as well as in another independent corporation. The Company has concluded that it will not consolidate these VIEs, as it is not the primary beneficiary. OCV qualifies as an investment company under ASC Topic 946, Financial Services, Investment Companies (“ASC 946”). Under ASC Topic 323, Investments — Equity Method and Joint Ventures , an investor that holds investments that qualify for specialized industry accounting for investment companies in accordance with ASC 946 should record its share of the earnings or losses, realized or unrealized, as reported by its equity method investees in the Consolidated Statements of Operations.
Fair Value Measurements	Fair Value Measurements The Company complies with the provisions of FASB ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), in measuring fair value and in disclosing fair value measurements. ASC 820 provides a framework for measuring fair value and expands the disclosures required for fair value measurements of financial and non-financial assets and liabilities. The carrying values of cash and cash equivalents, accounts receivable, interest receivable, accounts payable, accrued expenses, interest payable, customer deposits, and long-term debt are reflected in the financial statements at cost. With the exception of certain investments and long-term debt, cost approximates fair value due to the short-term nature of such instruments. The fair value of the Company’s outstanding debt was determined using the quoted market prices of debt instruments with similar terms and maturities when available. As of the same dates, the carrying value of other noncurrent liabilities approximated fair value as the related interest rates approximate rates currently available to the Company.
Property and Equipment	Property and Equipment Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets and is recorded in ‘Depreciation and amortization’ on the Consolidated Statements of Operations based on the function the underlying asset supports. The estimated useful lives of property and equipment range from one
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of the Company’s leases do not provide an implicit rate, the Company uses the incremental borrowing rate based on the information available at commencement date of the lease in determining the present value of future payments. The operating lease right-of-use asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of twelve months or less are not recorded on the balance sheet and the Company recognizes lease expense for these leases on a straight-line basis over the lease term. There are lease agreements with lease and non-lease components, which are generally accounted for as a single lease component.
Impairment or Disposal of Long-Lived Assets	Impairment or Disposal of Long-Lived Assets The Company accounts for long-lived assets, which include property and equipment, operating lease right-of-use assets, and identifiable intangible assets with finite useful lives (subject to amortization), in accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment (“ASC 360”), which requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparing the carrying amount of an asset to the expected undiscounted future net cash flows generated by the asset. If it is determined that the asset may not be recoverable, and if the carrying amount of an asset exceeds its estimated fair value, an impairment charge is recognized to the extent of the difference. The Company assesses the impairment of identifiable definite-lived intangibles and long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If the Company determined that the carrying value of definite-lived intangibles and long-lived assets may not be recoverable based upon the existence of one or more indicators of impairment, it would record an impairment equal to the excess of the carrying amount of the asset over its estimated fair value.
Business Combinations and Valuation of Goodwill and Intangible Assets	Business Combinations and Valuation of Goodwill and Intangible Assets The Company applies the acquisition method of accounting for business combinations in accordance with GAAP and uses estimates and judgments to allocate the purchase price paid for acquisitions to the fair value of the assets, including identifiable intangible assets and liabilities acquired. Such estimates may be based on significant unobservable inputs and assumptions such as, but not limited to, future revenue growth rates, gross and operating margins, customer attrition rates, royalty rates, discount rates, and terminal growth rate assumptions. The Company uses established valuation techniques and may engage reputable valuation specialists to assist with the valuations. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. Fair values are subject to refinement for up to one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. The Company tests goodwill for impairment annually on October 1st at the reporting unit level, or more frequently if indicators of impairment exist, or if a decision is made to dispose of a business. The Company evaluates its goodwill and indefinite-lived intangible assets for impairment pursuant to ASC Topic 350, Intangibles — Goodwill and Other (“ASC 350”), which provides that goodwill and other intangible assets with indefinite lives are not amortized but tested annually for impairment or more frequently if the Company believes indicators of impairment exist. In connection with the annual impairment test for goodwill, the Company has the option to perform a qualitative assessment in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it was more likely than not that the fair value of the reporting unit is less than its carrying amount, it then performs an impairment test of goodwill. The impairment test involves comparing the fair values of the applicable reporting units with their aggregate carrying values, including goodwill. The Company generally determines the fair value of its reporting units using a mix of an income approach and a market approach. If the carrying value of a reporting unit exceeds the reporting unit’s fair value, an impairment loss is recognized for the difference. During the years ended December 31, 2024, 2023, and 2022, the Company recorded goodwill impairments of $85.3 million, $56.9 million, and $27.4 million, respectively. Refer to Note 8 Goodwill and Intangible Assets for additional details. The Company did not have intangible assets with indefinite lives during years ended December 31, 2024, 2023, and 2022. two twenty three sixteen one ten
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following (in thousands): December 31, 2024 2023 Accounts payable $ 164,352 $ 123,256 Settlement payables, net 408,747 — Accrued employee related costs 55,800 50,068 Other accrued liabilities 41,870 43,612 Total Accounts payable and accrued expenses $ 670,769 $ 216,936 Settlement payables, net represent amounts owed to our customers related to services provided in the facilitation of gift card processing and program management whereby, as part of our services we collect from third-parties and pass through payment to our customers, net of a fee earned by the Company. Settlement payables, net is associated with our TDS business, which was acquired in 2024. Refer to Note 4 — Business Acquisitions for details.
Contingent Consideration	Contingent Consideration Certain of the Company’s acquisition agreements include contingent earn-out arrangements, which are generally based on the achievement of future income thresholds or other metrics. The contingent earn-out arrangements are based upon the Company’s valuations of the acquired companies and reduce the risk of overpaying for acquisitions if the projected financial results are not achieved. The fair values of these earn-out arrangements are included as part of the purchase price of the acquired companies on their respective acquisition dates. For each transaction, the Company estimates the fair value of contingent earn-out payments as part of the initial purchase price and records the estimated fair value of contingent consideration as a liability on the Consolidated Balance Sheets. The Company reviews and re-assesses the estimated fair value of contingent consideration on a quarterly basis, and the updated fair value could be materially different from the initial estimates or prior amounts. Changes in the estimated fair value of its contingent earn-out liabilities and adjustments to the estimated fair value related to changes in all other unobservable inputs are reported in general, administrative, and other related costs on our Consolidated Statements of Operations.
Debt Issuance Costs and Debt Discount	Debt Issuance Costs and Debt Discount The Company capitalizes costs incurred with borrowing and issuance of debt securities and records debt issuance costs and discounts as a reduction to the debt amount. These costs and discounts are amortized and included in interest expense over the life of the borrowing using the effective interest method. In August 2020, the FASB issued ASU 2020-06. The provisions of this update simplifies the accounting for convertible instruments by removing certain separation models in ASC 470-20, Debt — Debt with Conversion and Other Options , for convertible instruments. The convertible debt instruments are accounted for as a single liability at the amortized cost if separation is no longer required unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC Topic 815, Derivatives and Hedging , or (2) a convertible debt instrument was issued at a substantial premium. Similarly, the debt discount, which is equal to the carrying value of the embedded conversion feature upon issuance, is no longer amortized into income as interest expense over the life of the instrument. Additionally, ASU 2020-06 requires the use of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share, which includes the effect of share settlement for instruments that may be settled in cash or shares, except for certain liability-classified share-based payment awards . On January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective method. The cumulative effect of the changes made on the Consolidated Balance Sheet upon this adoption increased the carrying amount of the 1.75% Convertible Notes (as defined in Note 9 Debt below) by approximately $85.9 million, increased retained earnings by approximately $23.4 million, reduced deferred tax liabilities by approximately $21.2 million and reduced additional paid-in capital by approximately $88.1 million.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when the Company satisfies its obligation by transferring control of the goods or services to its customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Refer to Note 3 Revenues for additional details. The following describes the nature of the Company’s primary types of revenue. Advertising and Performance Marketing Advertising and performance marketing revenues are earned primarily from the delivery of advertising services and from marketing, performance marketing, and production services. Revenues from the delivery of advertising services are earned on websites and applications that are owned and operated by the Company and on those websites and applications that are part of the Company’s advertising network. Revenues are primarily earned by generating traffic to the Company’s websites, apps, and third-party platforms on which brands of the Company have a presence and monetizing this traffic. The value provided to the customer is primarily derived from the provision of traffic the Company generates from its specific content within each vertical, as well as data obtained by the website or app traffic. Such revenues are generally recognized over the period in which the products or services are delivered. 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 vast majority of the Company’s advertising and performance marketing revenue is recognized on a gross basis as the Company primarily acts as a “principal” as defined under ASC Topic 606, Revenue from Contracts with Customer (“ASC 606”). Revenues recognized on a gross basis are 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; and (ii) through the Company’s lead-generation business. 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 client gift card programs where we collect the total value of the gift card on our customers’ behalf. Subscription and Licensing Revenues from subscriptions are earned through (i) the granting of access to, or delivery of, data products or services to customers; (ii) usage-based fees, and (iii) reselling various third-party solutions, primarily through the Company’s email security line of business. 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. Third-party solutions, along with the Company’s proprietary products, allow the Company to offer customers a variety of solutions to better meet the customer’s needs. 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. In instances where usage-based fees are charged, 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. Licensing revenues are earned 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. 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 the Company’s clients, revenues from the license of these assets are recognized at a point in time. Licensing revenues also include revenues from transactions involving the sale of perpetual software licenses, related software support, and maintenance. 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 they are available during the term of the support period. 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 vast majority of the subscription and licensing revenue is recognized on a gross basis as the Company primarily acts as a “principal” as defined under ASC 606. The Company records revenue on a gross basis with respect to revenue generated from the resale of various third-party solutions, primarily through its email security line of business, because the Company has control of the specified good or service prior to transferring control to the customer. 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 those relating to 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. 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 majority of the Company’s other revenue is recognized on a gross basis as the Company primarily acts as a “principal” as defined under ASC 606. The Company records revenue on a net basis with respect to games sold on third-party platforms. 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 an evaluation to determine if those arrangements should be accounted for as a single contract. 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 variable consideration, such as commissions that are recognized in the period of the commissionable event. Payment terms vary by type and location of customers and the services offered. The time between invoicing and when payment is due is generally not significant. Due to the nature of the services provided, there are no obligations for returns. Advertising and performance marketing revenues consist primarily of performance obligations that are satisfied over time, where the customer simultaneously receives and consumes the benefit of the services provided. In certain instances, the Company provides content to its advertising partners and receives a revenue share based on the terms of the agreement. Revenue is recognized based on delivery of services over the contract period for advertising. The Company believes that the methods described are a faithful depiction of the transfer of goods and services. Depending on individual contracts with customers, revenues from advertising and performance marketing revenues are recognized over time as distinct performance obligations are satisfied, including when: • Online display and video advertising in form of impressions, video views and other means is placed for viewing on the Company’s owned-and-operated properties and on third-party sites. • Commissions are earned upon the sale of an advertised product. • Qualified sales leads are delivered. • Visitor “clicks through” an advertisement. Subscription and licensing revenues are earned from (i) subscription services with performance obligations that are satisfied over time; and (ii) licensing arrangements that have standalone functionality with performance obligations satisfied at a point in time, where the customer simultaneously receives and consumes the benefit of the services provided regardless of whether the customer uses the services. The Company believes that the methods described are a faithful depiction of the transfer of goods and services. Depending on the individual contracts with the customer, revenues for subscription and licensing services are recognized over the contract period as distinct performance obligations are satisfied, including when: • 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. • Access is granted to data products and services. • Continuing access to the content on our websites and apps is provided. The Company has concluded the best measure of progress toward the complete satisfaction of the performance obligation delivered over the time 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. Other revenues consist primarily of performance obligations that are satisfied at a point in time at which control for goods and services is transferred to a customer. The Company believes that the methods described are a faithful depiction of the transfer of goods and services. Sales Taxes The Company has made an accounting policy election to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are (i) both imposed on and concurrent with a specific revenue-producing transaction and (ii) collected by the Company from a customer. Costs to Obtain a Contract The Company’s revenues are primarily generated from customer contracts that are for one year or less. Costs primarily consist of incentive compensation paid based on the achievements of sales targets in a given period for related revenue streams and are recognized in the month when the revenue is earned. Incentive compensation is paid on the issuance or renewal of the customer contract. As a practical expedient, for amortization periods which are determined to be one year or less, the Company expenses any incremental costs of obtaining the contract with a customer when incurred. For those customers with amortization periods determined to be greater than one year, the Company capitalizes and amortizes the expenses over the period of benefit. In addition, the Company partners with various affiliates in order to generate a portion of its revenue for certain lines of business. The commissions earned by the Company’s affiliates are incentive based and are paid on the acquisition of new customers in a given period. For those customers with amortization periods determined to be greater than one year, the Company capitalizes and amortizes the incentive over the period of benefit. As of December 31, 2024 and 2023, the Company capitalized approximately $14.2 million and $14.9 million, respectively, related to these costs and they are included in ‘Prepaid expenses and other current assets’ and ‘Other assets’ in the Consolidated Balance Sheets. During the years ended December 31, 2024, 2023, and 2022, the Company recognized expense of $14.6 million, $12.9 million, and $15.4 million respectively, related to the amortization of capitalized costs to obtain a contract with a customer. Practical Expedients Existence of a Significant Financing Component in a Contract If at contract inception, the Company expects that the period between payment by the customer and the transfer of promised goods or services by the Company to the customer will be one year or less, the Company does not assess whether a contract has a significant financing component. In addition, the Company has determined that the payment terms that the Company provides to its customers are structured primarily for reasons other than the provision of finance to the customer. The Company typically charges a single upfront amount for services because other payment terms would affect the nature of the risk assumed by the Company to provide service given the costs of the customer acquisition and the highly competitive and commoditized nature of the business it operates, which allows customers to easily move from one provider to another. This additional risk may make it uneconomical to provide the service.
Share-Based Compensation	Share-Based Compensation The Company accounts for share-based awards to employees and non-employees in accordance with the provisions of ASC Topic 718, Compensation — Stock Compensation
Direct Costs	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, and processing fees. Direct costs exclude depreciation and amortization expenses for all periods presented. For the years ended December 31, 2024, 2023, and 2022, direct costs were $200.3 million, $185.7 million, and $184.5 million, respectively.
Research, Development, and Engineering	Research, Development, and Engineering
Advertising Costs	Advertising Costs
Foreign Currency	Foreign Currency
Income Taxes	Income Taxes The Company’s income is subject to taxation in both the U.S. and numerous foreign jurisdictions. Significant judgment is required in evaluating the Company’s tax positions and determining its provision for income taxes. During the ordinary course of business, there are many transactions and calculations for which the ultimate tax determination is uncertain. The Company establishes reserves for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. These reserves for tax contingencies are established when the Company believes that certain positions might be challenged despite the Company’s belief that its tax return positions are fully supportable. The Company adjusts these reserves in light of changing facts and circumstances, such as the outcome of a tax audit or lapse of a statute of limitations. The provision for income taxes includes the impact of reserve provisions and changes to reserves that are considered appropriate. The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes (“ASC 740”), which requires deferred tax assets and liabilities to be recognized using enacted tax rates for the effect of temporary differences between the book and tax basis of recorded assets and liabilities. ASC 740 also requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some or all of the net deferred tax assets will not be realized. Valuation allowances are reviewed quarterly based upon the facts and circumstances known at the time. In assessing valuation allowances, the Company reviews historical and future expected operating results and other factors, including its recent cumulative earnings experience, expectations of future taxable income by taxing jurisdiction and the carryforward periods available for tax reporting purposes, to determine whether it is more likely than not that deferred tax assets are realizable. ASC 740 provides guidance on the minimum threshold that an uncertain income tax benefit is required to meet before it can be recognized in the financial statements and applies to all income tax positions taken by a company. ASC 740 contains a two-step approach to recognizing and measuring uncertain income tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. If it is not more likely than not that the benefit will be sustained on its technical merits, no benefit will be recorded. Uncertain income tax positions that relate only to timing of when an item is included on a tax return are considered to have met the recognition threshold. The Company recognizes accrued interest and penalties related to uncertain income tax positions in income tax expense on its Consolidated Statements of Operations.
Earnings Per Common Share (“EPS”)	Earnings Per Common Share (“EPS”) EPS is calculated pursuant to the two-class method as defined in ASC Topic 260, Earnings per Share (“ASC 260”), which specifies that all outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends or dividend equivalents are considered participating securities and should be included in the computation of EPS pursuant to the two-class method. Basic EPS is calculated by dividing net distributed and undistributed earnings allocated to common shareholders, excluding participating securities, by the weighted-average number of common shares outstanding. The Company’s participating securities consist of its unvested share-based payment awards that contain rights to non-forfeitable dividends or dividend equivalents.
Share Repurchases	Share Repurchases
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently issued applicable accounting pronouncements adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This update provides for optional financial reporting alternatives to reduce cost and complexities associated with accounting for contracts, hedging relationships, and other transactions affected by reference rate reform. This update applies only to contracts, hedging relationships, and other transactions that reference London Interbank Offer Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The accommodations were available for all entities through December 31, 2022, with early adoption permitted. This update was later amended by ASU 2022-06. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 . This update defers the expiration date of ASC Topic 848 from December 31, 2022 to December 31, 2024. We adopted this update during the fourth quarter of 2024. The adoption of this update did not have a material impact 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. In addition, the guidance 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 the guidance is to enable investors to better understand an entity’s overall performance and assess potential future cash flows. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. Early adoption is permitted. We adopted this update for the annual period ended December 31, 2024 and the amendments have been applied retrospectively to all prior periods presented in the consolidated financial statements by expanding certain disclosures, including the disclosure of significant expenses included in our segment measure of profitability. Recently issued applicable accounting pronouncements not yet adopted 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 the purpose 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 do not anticipate that adoption of this update will have a material impact on our consolidated financial statements and related disclosures. 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 of equal to or greater than 5% of the amount computed by multiplying pretax income by statutory income tax rate. The amendments also require 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 5% of total income taxes paid. The amendments eliminate some of the previously required disclosures for all entities relating to estimates of the change in unrecognized tax benefits reasonably possible within twelve months. The amendments in this update are effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is permitted. This update will result in the required additional disclosures being included in our consolidated financial statements, once adopted. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expenses Disaggregation Disclosure (Subtopic 220-40) , which requires disaggregated disclosure of income statement expenses for public business entities. The amendments in this update do not change the expense captions an entity presents on the face of the income statement; rather, they require disaggregation of certain expense captions into specified categories, including but not limited to purchases of inventory, employee compensation, depreciation, amortization, and selling expenses. This update is effective for annual reporting periods beginning after December 15, 2025, and for interim periods within fiscal years beginning after December 15, 2027. This update will result in the required additional disclosures being included in our consolidated financial statements, once adopted.
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 a Level 1 input. On May 22, 2024, the Company sold its remaining investments in Consensus common stock (see Note 5 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 December 31, 2024 and 2023, the fair value was determined based upon various probability-weighted scenarios which included discount rate assumptions between 9% and 10%, depending on the probability scenario. In addition, the determination of fair value included a conversion timeframe of approximately six months to two years, depending on the probability scenario, as of December 31, 2024, and approximately one three 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.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Schedule of Accounts Receivable	Accounts receivable, net consisted of the following (in thousands): December 31, 2024 2023 Settlement receivables, net $ 296,553 $ — Trade receivables, net 363,670 337,703 Accounts receivable, net $ 660,223 $ 337,703
Schedule of Allowance for Credit Losses	The rollforward of allowance for credit losses on Accounts receivable, net is as follows (in thousands): Years ended December 31, 2024 2023 2022 Beginning balance $ 6,871 $ 6,868 $ 9,811 Increases (decreases) to bad debt expense 2,898 2,809 (255) Write-offs, net of recoveries (1,621) (2,806) (2,688) Ending balance $ 8,148 $ 6,871 $ 6,868
Schedule of Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consisted of the following (in thousands): December 31, 2024 2023 Accounts payable $ 164,352 $ 123,256 Settlement payables, net 408,747 — Accrued employee related costs 55,800 50,068 Other accrued liabilities 41,870 43,612 Total Accounts payable and accrued expenses $ 670,769 $ 216,936

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenues from external customers classified by revenue source are as follows (in thousands). Year ended December 31, Technology & Shopping 2024 (1) 2023 (1) 2022 (1) Advertising and performance marketing $ 345,655 $ 310,733 $ 354,545 Subscription and licensing 7,158 8,256 10,052 Other 9,069 11,568 20,332 Total Technology & Shopping revenues $ 361,882 $ 330,557 $ 384,929 Gaming & Entertainment Advertising and performance marketing $ 120,788 $ 114,074 $ 112,305 Subscription and licensing 59,468 54,747 54,020 Other 20 — — Total Gaming & Entertainment revenues $ 180,276 $ 168,821 $ 166,325 Health & Wellness Advertising and performance marketing $ 299,474 $ 309,182 $ 304,379 Subscription and licensing 49,538 41,185 21,244 Other 13,396 11,556 10,260 Total Health & Wellness revenues $ 362,408 $ 361,923 $ 335,883 Connectivity Advertising and performance marketing $ 11,926 $ 13,112 $ 16,353 Subscription and licensing 185,994 179,286 159,150 Other 15,700 19,120 15,751 Total Connectivity revenues $ 213,620 $ 211,518 $ 191,254 Cybersecurity & Martech Subscription and licensing $ 283,502 $ 291,209 $ 312,606 Other — — — Total Cybersecurity & Martech revenues $ 283,502 $ 291,209 $ 312,606 Corporate $ — $ — $ — Total Revenues $ 1,401,688 $ 1,364,028 $ 1,390,997 (1) Amounts presented are net of inter-segment revenues.

Business Acquisitions (Tables)

Business Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Allocation of Aggregate Purchase Consideration	The following table summarizes the allocation of the purchase consideration for the acquisition of TDS and CNET as of December 31, 2024 (in thousands): Valuation Assets and Liabilities TDS CNET Cash $ 142,957 $ — Accounts receivable and other current assets (1) 171,290 16,351 Intangible assets 108,340 101,000 Goodwill (1) 81,248 36,607 Deferred tax asset, noncurrent (2) — 11,412 Other assets 203 655 Accounts payable and other current liabilities (290,161) (3,819) Deferred tax liability, noncurrent (25,442) — Deferred revenue, noncurrent — (7,958) Other noncurrent liabilities (847) — Total $ 187,588 $ 154,248 (1) The fair value of the assets acquired includes accounts receivable of $170.7 million (including Settlement receivables, net of $166.8 million) for TDS and $15.6 million related to CNET, of which none is expected to be uncollectible. $4.5 million of the goodwill recognized is expected to be deductible for income tax purposes. (2) Deferred tax asset balance for CNET is presented within ‘Deferred income taxes’ in the ‘Liabilities and Stockholders’ Equity’ section on the Consolidated Balance Sheets. The following table summarizes the allocation of the purchase consideration for all 2022 acquisitions as of December 31, 2022 (in thousands): Assets and Liabilities Valuation Accounts receivable $ 7,433 Prepaid expenses and other current assets 4,915 Property and equipment 369 Operating lease right-of-use assets, noncurrent 545 Trade names 12,839 Customer relationships 20,040 Goodwill (1) 95,737 Other intangibles 18,166 Other noncurrent assets 11 Accounts payable and accrued expenses (6,221) Deferred revenue (21,474) Deferred tax liability (10,140) Other noncurrent liabilities (516) Total $ 121,704 (1) Goodwill recognized associated with these acquisitions during the year ended December 31, 2022 is $95.7 million, of which $1.2 million is expected to be deductible for income tax purposes.
Summary of Intangible Assets	The amounts assigned to intangible assets by type for all acquisitions during the year ended December 31, 2024 are summarized in the table below (in thousands): Gross Carrying Value Weighted Average Estimated Life Customer relationships $ 146,215 10 years Trade names and trademarks 27,895 9 years Other purchased intangibles 43,793 5 years Total gross carrying value $ 217,903
Supplementary Information on Unaudited Pro Forma Financial Basis	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. Years ended December 31, (in thousands, except per share data) 2024 2023 (unaudited) Revenues $ 1,470,182 $ 1,521,064 Net income $ 49,433 $ 22,206 Income per common share from continuing operations - Basic $ 1.11 $ 0.48 Income per common share from continuing operations - Diluted $ 1.11 $ 0.48 The supplemental information on an unaudited pro forma financial basis presents the combined results of the Company and its 2022 acquisitions as if each acquisition had occurred on January 1, 2021 (in thousands, except per share amounts): Year ended December 31, 2022 (unaudited) Revenues $ 1,407,300 Net income from continuing operations $ 64,877 Income per common share from continuing operations - Basic $ 1.38 Income per common share from continuing operations - Diluted $ 1.38
Contractual Obligation, Fiscal Year Maturity	As of December 31, 2024, future payments associated with contractual obligations for holdback payments in connection with all business acquisitions are as follows (in thousands): Fiscal Year: 2025 $ 1,305 2026 363 $ 1,668

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 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): December 31, 2024 Level 1 Level 2 Level 3 Fair Value Carrying Value Assets: Cash equivalents: Money market and other funds $ 85,833 $ — $ — $ 85,833 $ 85,833 Long-term investments: Investment in corporate debt securities — — 17,788 17,788 17,788 Total assets measured at fair value $ 85,833 $ — $ 17,788 $ 103,621 $ 103,621 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
Reconciliation of Level 3 Financial Assets Measured on Recurring Basis	The following table presents a reconciliation of the Company’s Level 3 financial assets related to our contingent consideration arrangements and investment in corporate debt securities that are measured at fair value on a recurring basis (in thousands): Years ended December 31, 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) — 2,089 (200) 113 Payments — — (355) — Balance as of December 31 $ 2,834 $ 17,788 $ 2,834 $ 15,699 (1)
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes: December 31, 2024 2023 Carrying Value Fair Value Carrying Value Fair Value 4.625% Senior Notes $ 457,211 $ 420,935 $ 456,796 $ 405,408 1.75% Convertible Notes (1) $ 148,186 $ 139,976 $ 544,516 $ 519,492 3.625% Convertible Notes (1) $ 258,885 $ 259,200 $ — $ — (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 9 — Debt, and paid an aggregate of approximately $135.0 million in cash. Refer to Note 9 Debt for additional information.

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment, stated at cost, consists of the following (in thousands): December 31, 2024 2023 Computer hardware, software, and related equipment $ 546,777 $ 502,564 Furniture and equipment 4,820 2,836 Leasehold improvements 7,328 9,784 558,925 515,184 Less: Accumulated depreciation and amortization (361,710) (327,015) Total property and equipment, net $ 197,216 $ 188,169

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Changes In Carrying Amounts Of Goodwill	The changes in carrying amounts of goodwill for the years ended December 31, 2024 and 2023 are as follows (in thousands): Technology & Shopping Gaming & Entertainment Health & Wellness Connectivity Cybersecurity & Martech Consolidated Balance as of January 1, 2023 $ 346,684 $ 61,644 $ 399,982 $ 257,679 $ 525,485 $ 1,591,474 Goodwill acquired (Note 4 3,849 — 2,602 — — 6,451 Goodwill impairment (56,850) — — — — (56,850) Purchase accounting adjustments (1) 215 (219) (72) 4 — (72) Foreign exchange translation (246) 60 745 803 3,700 5,062 Balance as of December 31, 2023 $ 293,652 $ 61,485 $ 403,257 $ 258,486 $ 529,185 $ 1,546,065 Goodwill acquired (Note 4 117,855 6,811 — — 4,532 129,190 Goodwill removed due to sale of business (2) (3,983) — — — — (3,983) Goodwill impairment (85,273) — — — — (85,273) Foreign exchange translation (194) 5 (201) (1,544) (3,815) (5,741) Balance as of December 31, 2024 $ 322,057 $ 68,301 $ 403,056 $ 256,942 $ 529,902 $ 1,580,258 (1) Purchase accounting adjustments relate to measurement period adjustments to goodwill in connection with prior business acquisitions (see Note 4 Business Acquisitions ). (2) During the year ended December 31, 2024, in a cash transaction, the Company sold an international business at Technology & Shopping, which resulted in $4.0 million of goodwill being removed in connection with this sale.
Intangible Assets Subject to Amortization	As of December 31, 2024, intangible assets subject to amortization relate primarily to the following (in thousands): Historical Accumulated Net Trade names and trademarks $ 375,449 $ 222,430 $ 153,019 Customer relationships 836,254 620,926 215,328 Other purchased intangibles 421,128 363,726 57,402 Total $ 1,632,831 $ 1,207,082 $ 425,749 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
Expected Amortization Expenses for Intangible Assets Subject To Amortization	Expected amortization expenses for intangible assets subject to amortization at December 31, 2024 are as follows (in thousands): Fiscal Year: 2025 $ 114,658 2026 96,383 2027 73,690 2028 49,319 2029 32,343 Thereafter 59,356 Total expected amortization expense $ 425,749

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Summary of Long-term Debt	Long-term debt consists of the following (in thousands): December 31, 2024 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 (5,676) (2,463) Deferred issuance costs (1) (2,336) (6,263) Total long-term debt $ 864,282 $ 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 December 31, 2024 and December 31, 2023, respectively, $0.9 million and $5.5 million of carrying amount of deferred issuance costs on the 1.75% Convertible Notes as of December 31, 2024 and December 31, 2023, respectively, and $0.7 million of carrying amount of deferred issuance costs on the 3.625% Convertible Notes as of December 31, 2024.
Future Principal Payments for Debt	At December 31, 2024, future principal and interest payments for debt are as follows (in thousands): Principal Interest 2025 $ — $ 33,425 2026 149,109 33,426 2027 — 30,816 2028 263,147 26,047 2029 — 21,277 Thereafter 460,038 21,276 Total $ 872,294 $ 166,267
Schedule of Repurchase Agreements	Repurchases of 4.625% Senior Notes on the open market (excluding those from a tender offer) during the periods presented were as follows (in thousands): Year ended December 31, 2022 Principal repurchased $ 181,238 Aggregate purchase price $ 167,661 (Gain) loss on repurchase (1) $ (12,060) (1)
Schedule of Debt	The following table provides additional information on the 4.625% Senior Notes (in thousands): December 31, 2024 2023 Principal amount of 4.625% Senior Notes $ 460,038 $ 460,038 Less: Unamortized discount (2,148) (2,463) Less: Deferred issuance costs (679) (779) Net carrying amount of 4.625% Senior Notes $ 457,211 $ 456,796 The following table provides the components of interest expense related to 4.625% Senior Notes (in thousands): Years ended December 31, 2024 2023 2022 Coupon interest expense $ 21,269 $ 21,159 $ 24,500 Amortization of discount and debt issuance costs 415 396 442 Total interest expense related to 4.625% Senior Notes $ 21,684 $ 21,555 $ 24,942 The following table provides the components of interest expense related to the 3.625% Convertible Notes (in thousands): Year ended December 31, 2024 Coupon interest expense $ 4,372 Amortization of discount and debt issuance costs 571 Total interest expense related to 3.625% Convertible Notes $ 4,943
Components of Interest Expense Related to Convertible Notes	The following table provides the components of interest expense related to the 1.75% Convertible Notes (in thousands): Years ended December 31, 2024 2023 2022 Coupon interest expense $ 6,429 $ 17,369 $ 9,776 Amortization of debt issuance costs 1,251 1,863 1,858 Total interest expense related to 1.75% Convertible Notes $ 7,680 $ 19,232 $ 11,634
Additional Information Related to Convertible Notes	The following table provides additional information related to the 1.75% Convertible Notes (in thousands): December 31, 2024 2023 Principal amount of 1.75% Convertible Notes $ 149,109 $ 550,000 Less: Deferred issuance costs (923) (5,484) Net carrying amount of 1.75% Convertible Notes $ 148,186 $ 544,516 The following table provides additional information related to the 3.625% Convertible Notes (in thousands): December 31, 2024 Principal amount of 3.625% Convertible Notes $ 263,147 Less: Unamortized discount (3,528) Less: Deferred issuance costs (734) Net carrying amount of 3.625% Convertible Notes $ 258,885

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Balance Sheet and Other Supplemental Operating Lease Information	Operating right-of-use assets are included in ‘Other assets’ on the Consolidated Balance Sheets. Operating lease liabilities are included in ‘Other current liabilities’ and ‘Other noncurrent liabilities’, respectively, on the Consolidated Balance Sheets as follows (in thousands): December 31, 2024 2023 Operating lease right-of-use assets $ 26,249 $ 24,564 Operating lease liabilities, current $ 8,666 $ 15,801 Operating lease liabilities, noncurrent 21,797 16,626 Total operating lease liabilities $ 30,463 $ 32,427 Other supplemental operating lease information consists of the following: December 31, 2024 2023 Operating leases: Weighted average remaining lease term 3.9 years 3.0 years Weighted average discount rate 4.28 % 3.27 %
Components of Lease Expense and Supplemental Cash Flow Information	The components of lease expense are as follows (in thousands): December 31, 2024 2023 Operating lease cost $ 10,760 $ 15,065 Short-term lease cost (1) 519 1,070 Total lease cost $ 11,279 $ 16,135 (1) The Company made an election to account for a short-term lease payments on a straight-line basis over the term of the lease.
Maturities of Operating Lease Liabilities	As of December 31, 2024, maturities of operating lease liabilities were as follows (in thousands): 2025 $ 9,371 2026 7,716 2027 5,419 2028 3,708 2029 3,796 Thereafter 3,995 Total lease payments $ 34,005 Less: Imputed interest 3,542 Present value of operating lease liabilities $ 30,463

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Provision for Income Tax	The continuing operations income tax (expense) benefit consisted of the following (in thousands): Years ended December 31, 2024 2023 2022 Current: Federal $ (33,333) $ (29,040) $ (42,698) State (8,625) (8,179) (12,184) Foreign (18,234) (16,940) (16,066) Total current (60,192) (54,159) (70,948) Deferred: Federal 14,684 20,817 12,667 State 2,144 7,177 (1,577) Foreign 1,994 2,023 1,901 Total deferred 18,822 30,017 12,991 Income tax expense from continuing operations $ (41,370) $ (24,142) $ (57,957)
Reconciliation of Statutory Federal Income Tax Rate with Effective Income Tax Rate	A reconciliation of the statutory federal income tax rate with the Company’s continuing operations effective income tax rate is as follows: Years ended December 31, 2024 2023 2022 Statutory tax rate 21.0 % 21.0 % 21.0 % State income taxes, net 5.9 6.5 5.0 Foreign rate differential 4.3 3.1 1.0 Foreign income inclusion 3.1 6.0 5.4 Foreign tax credit (3.1) (4.7) (5.1) Reserve for uncertain tax positions (6.1) (5.9) (3.2) Valuation allowance 6.3 — — Impact on deferred taxes of enacted tax law and rate changes — 0.6 1.4 Tax credits and incentives (6.5) (8.4) (5.0) Impairment of goodwill 19.2 16.0 — Mark-to market on investment in Consensus — — 22.1 Return to provision adjustments (2.3) (5.1) 1.1 Executive compensation 3.2 2.4 1.5 Other (0.6) 0.7 (1.0) Effective tax rates 44.4 % 32.2 % 44.2 %
Deferred Tax Assets and Liabilities	Deferred tax assets and liabilities result from differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. Temporary differences and carryforwards which give rise to deferred tax assets and liabilities from continuing operations are as follows (in thousands): Years ended December 31, 2024 2023 Deferred tax assets: Net operating loss and other carryforwards $ 14,923 $ 15,762 Tax credit carryforwards 3,727 4,743 Accrued expenses 12,019 14,629 Allowance for bad debt 2,514 2,003 Share-based compensation expense 8,634 6,097 Operating lease liabilities 5,717 6,320 Basis difference in fixed assets 39,242 22,191 Deferred revenue 3,413 2,420 Convertible debt 2,952 — State taxes 2,526 1,974 Other 1,675 2,468 97,342 78,607 Less: valuation allowance (7,669) (1,720) Total deferred tax assets $ 89,673 $ 76,887 Deferred tax liabilities: Operating lease right-of-use assets (5,040) (4,618) Basis difference in intangible assets (103,676) (86,712) Unrealized gains on investments (13,364) (13,512) Prepaid insurance (2,111) (2,835) Other (4,014) (5,982) Total deferred tax liabilities (128,205) (113,659) Net deferred tax liabilities $ (38,532) $ (36,772)
Summary of Valuation Allowance on Deferred Tax Assets From Continuing Operations	The rollforward of the valuation allowance on the deferred tax assets from continuing operations is as follows (in thousands): Years ended December 31, 2024 2023 2022 Beginning balance $ 1,720 $ 1,699 $ 1,812 Charges to costs and expenses 5,949 21 — Write-offs and recoveries — — (113) Ending balance $ 7,669 $ 1,720 $ 1,699
Schedule of Unrecognized Tax Benefits	The aggregate changes in the balance of unrecognized tax benefits, which excludes interest and penalties, for the years ended December 31, 2024, 2023, and 2022, is as follows (in thousands): Years ended December 31, 2024 2023 2022 Beginning balance $ 29,158 $ 34,208 $ 39,527 Increases related to tax positions during a prior year 275 218 — Decreases related to tax positions taken during a prior year (540) (1,023) (2,816) Increases related to tax positions taken in the current year 635 744 819 Decreases related to expiration of statute of limitations (6,911) (4,989) (3,322) Ending balance $ 22,617 $ 29,158 $ 34,208

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Valuation Assumptions of Stock Options and Market-based Restricted Stock Awards Granted	The following table presents the effects of share-based compensation expense in the Consolidated Statements of Operations during the periods presented (in thousands): Year ended December 31, 2024 2023 2022 Direct costs $ 248 $ 262 $ 341 Sales and marketing 3,756 2,686 3,083 Research, development, and engineering 3,665 3,245 2,503 General, administrative, and other related costs 33,246 25,727 20,674 Total share-based compensation expense $ 40,915 $ 31,920 $ 26,601
Stock Options Activity	Stock option activity for the years ended December 31, 2024, 2023, and 2022 is summarized as follows: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Options outstanding at January 1, 2022 440,574 $ 68.45 Granted — $ — Exercised (5,439) $ 27.15 Canceled — $ — Options outstanding at December 31, 2022 435,135 $ 68.97 Granted — $ — Exercised — $ — Canceled — $ — Options outstanding at December 31, 2023 435,135 $ 68.97 Granted — $ — Exercised — $ — Canceled — $ — Options outstanding at December 31, 2024 435,135 $ 68.97 3.0 $ 0 Exercisable at December 31, 2024 326,351 $ 68.97 3.0 $ 0 Vested and expected to vest at December 31, 2024 102,128 $ 68.97 3.0 $ 0
Valuation Assumptions of Market-based Restricted Stock Awards Granted	The assumptions used in determining the weighted-average fair values of PSUs granted during the periods presented are as follows: December 31, 2024 2023 2022 Underlying stock price at valuation date $ 66.88 $ 77.80 $ 99.32 Expected volatility 32.9 % 32.0 % 36.7 % Risk-free interest rate 4.3 % 4.1 % 1.8 %
Restricted Stock and Restricted Stock Unit Award Activity	Restricted stock award (“RSA”) and PSA activity for the years ended December 31, 2024, 2023 and 2022 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, 2022 220,782 $ 72.07 163,181 $ 36.27 Granted — — — — Vested (67,762) 74.13 — — Canceled (4,920) 77.92 — — Nonvested at December 31, 2022 148,100 $ 70.93 163,181 $ 36.27 Granted — — — — Vested (52,060) 72.29 — — Canceled (322) 77.75 — — Nonvested at December 31, 2023 95,718 $ 70.17 163,181 $ 36.27 Granted — — — — Vested (40,735) 71.73 — — Canceled (154) 77.75 — — Nonvested at December 31, 2024 54,829 $ 68.97 163,181 $ 36.27 Restricted stock unit activity for the years ended December 31, 2024, 2023 and 2022 is set forth below: RSUs PSUs Number of shares Weighted average grant date fair value Number of shares (1) Weighted average grant date fair value Outstanding at January 1, 2022 299,023 $ 107.52 60,891 $ 86.78 Granted 154,022 94.47 100,193 87.11 Vested (84,259) 108.04 (30,435) 91.23 Canceled (24,831) 94.02 (10,250) 89.73 Outstanding at December 31, 2022 343,955 $ 102.53 120,399 $ 87.04 Granted 305,549 76.80 167,606 70.06 Vested (111,185) 101.41 — — Canceled (31,894) 83.82 (17,233) 77.98 Outstanding at December 31, 2023 506,425 $ 88.36 270,772 $ 77.09 Granted 413,053 64.60 308,970 87.17 Vested (175,564) 90.68 — — Canceled (91,687) 74.44 (58,756) 79.88 Outstanding at December 31, 2024 652,227 74.59 520,986 82.73 Vested and expected to vest at December 31, 2024 610,299 $ 74.53 499,185 $ 82.54 (1) Represents the number of shares at 100% achievement.
Valuation Assumptions of Stock Options Granted	The share-based compensation expense related to the Purchase Plan has been estimated utilizing the following weighted average assumptions: December 31, 2024 2023 2022 Risk-free interest rate 5.3% 3.4% 1.2% Expected term (in years) 0.5 0.5 0.5 Expected volatility 31.4% 38.3% 40.7%

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Components of Basic and Diluted Earnings Per Share	The components of basic and diluted earnings per share from continuing operations are as follows (in thousands, except share and per share data): Years ended December 31, 2024 2023 2022 Numerator for basic and diluted net income per common share: Net income from continuing operations $ 63,047 $ 41,503 $ 65,466 Less: Net income available to participating securities (1) — (2) (20) Plus: Convertible Notes interest expense (after-tax) — — — Net income available to the Company’s common shareholders from continuing operations $ 63,047 $ 41,501 $ 65,446 Denominator: Basic weighted-average outstanding shares of common stock 44,457,071 46,400,941 46,954,558 Diluted effect of: Equity incentive plans 62,622 63,320 71,291 Convertible debt — — — Diluted weighted-average outstanding shares of common stock 44,519,693 46,464,261 47,025,849 Net income per share from continuing operations: Basic $ 1.42 $ 0.89 $ 1.39 Diluted $ 1.42 $ 0.89 $ 1.39 Weighted-average shares excluded from diluted weighted-average shares outstanding: Anti-dilutive stock options and restricted stock 1,069,443 629,807 — Anti-dilutive convertible debt 4,892,773 5,158,071 5,158,071 (1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Reconciliation of Total Segment Operating Income to Consolidated Operating Income	Information on reportable segments revenues is as follows (in thousands): Years Ended December 31, 2024 2023 2022 Revenue by reportable segment: Technology & Shopping $ 361,882 $ 330,557 $ 384,929 Gaming & Entertainment 180,276 168,821 166,325 Health & Wellness 362,408 361,923 335,883 Connectivity 213,620 211,518 191,254 Cybersecurity & Martech 283,502 291,209 312,606 Total segment revenues 1,401,688 1,364,028 1,390,997 Corporate — — — Total revenues $ 1,401,688 $ 1,364,028 $ 1,390,997 The descriptions of significant reportable segment expenses shown in the following tables are as follows: • Salaries, benefits, and other employee expenses include employee compensation expenses for salaries, bonuses, benefits, payroll taxes, commissions, share-based compensation, severance costs, other related employee costs. • Cloud computing, software, and other related expenses include costs associated with cloud computing, software purchases, web hosting, database hosting, and other computer related costs. • Advertising and related marketing expenses include advertising relationships with an array of online service providers, marketing expenses, and other audience extension costs. • Partner payments include expense associated with revenue sharing arrangements, content fees, and royalties. • Professional and other-third party services include expenses for outside providers including freelancers, consultants, legal costs, and other professional services. Significant reportable segment expenses are set forth in the tables below (in thousands): Year ended December 31, 2024 Technology & Shopping Gaming & Entertainment Health & Wellness Connectivity Cybersecurity & Martech Total operating costs and expenses Salaries, benefits, and other employee expenses $ 139,293 $ 45,294 $ 115,509 $ 53,172 $ 77,518 $ 430,786 Cloud computing, software, and other related expenses 28,086 5,630 13,903 14,849 40,009 102,477 Advertising and marketing related expenses 51,418 12,226 39,199 2,898 21,799 127,540 Partner payments 7,063 27,262 38,736 932 21,063 95,056 Professional and other third-party services 20,455 5,908 8,730 14,356 17,228 66,677 Goodwill impairment 85,273 — — — — 85,273 Depreciation and amortization 83,424 10,733 52,766 31,882 33,025 211,830 Other 17,942 (1) 19,222 (2) 26,358 (3) 16,157 (4) 17,899 (5) 97,578 Total segment operating costs and expenses 432,954 126,275 295,201 134,246 228,541 1,217,217 Corporate (6) 70,823 Total operating costs and expenses $ 1,288,040 Year ended December 31, 2023 Technology & Shopping Gaming & Entertainment Health & Wellness Connectivity Cybersecurity & Martech Total operating costs and expenses Salaries, benefits, and other employee expenses $ 121,721 $ 43,224 $ 109,401 $ 55,492 $ 75,340 $ 405,178 Cloud computing, software, and other related expenses 23,580 3,974 11,599 9,865 37,402 86,420 Advertising and marketing related expenses 55,185 9,468 42,477 3,296 24,189 134,615 Partner payments 7,721 26,637 33,842 730 19,120 88,050 Professional and other third-party services 15,025 3,629 10,604 13,199 18,211 60,668 Goodwill impairment 56,850 — — — — 56,850 Depreciation and amortization 83,271 10,368 59,870 31,793 52,618 237,920 Other 17,702 (1) 14,222 (2) 30,555 (3) 26,552 (4) 21,119 (5) 110,150 Total segment operating costs and expenses 381,055 111,522 298,348 140,927 247,999 1,179,851 Corporate (6) 51,566 Total operating costs and expenses $ 1,231,417 Year ended December 31, 2022 Technology & Shopping Gaming & Entertainment Health & Wellness Connectivity Cybersecurity & Martech Total operating costs and expenses Salaries, benefits, and other employee expenses $ 131,808 $ 43,386 $ 99,808 $ 44,908 $ 77,909 $ 397,819 Cloud computing, software, and other related expenses 25,517 3,426 10,172 9,509 34,985 83,609 Advertising and marketing related expenses 61,380 10,626 39,366 2,790 27,187 141,349 Partner payments 9,572 29,965 32,175 — 23,207 94,919 Professional and other third-party services 11,953 1,964 9,990 10,575 22,404 56,886 Goodwill impairment 27,369 — — — — 27,369 Depreciation and amortization 93,187 10,045 55,981 25,445 48,714 233,372 Other 20,578 (1) 13,488 (2) 22,176 (3) 19,665 (4) 27,238 (5) 103,145 Total segment operating costs and expenses 381,364 112,900 269,668 112,892 261,644 1,138,468 Corporate (6) 53,588 Total operating costs and expenses $ 1,192,056 (1) Other Technology & Shopping operating costs and expenses consist primarily of credit card processing fees, campaign fulfillment costs, travel and entertainment costs, office expenses, bad debt expense, and certain allocated overhead expenses. (2) Other Gaming & Entertainment operating costs and expenses consist primarily of credit card processing fees, inventory-related costs, campaign fulfillment costs, travel and entertainment costs, office expenses, bad debt expense, and certain allocated overhead expenses. (3) Other Health & Wellness operating costs and expenses consist primarily of app-store fees, credit card processing fees, campaign fulfillment costs, travel and entertainment costs, office expenses, bad debt expense, and certain allocated overhead expenses. (4) Other Connectivity operating costs and expenses consist primarily of inventory-related costs, credit card processing fees, inventory related costs, campaign fulfillment costs, travel and entertainment costs, office expenses, bad debt expense, and certain allocated overhead expenses. (5) Other Cybersecurity & Martech operating costs and expenses consist primarily of credit card processing fees, telecommunication backbone costs, travel and entertainment costs, office expenses, bad debt expense, and certain allocated overhead expenses. (6) Corporate includes costs associated with general, administrative, and other expenses (including some depreciation and amortization) that are managed on a global basis and that are not directly attributed to any particular segment. Information on (loss) income from operations is set forth in the table below (in thousands). Years ended December 31, 2024 2023 2022 (Loss) income from operations by reportable segment: Technology & Shopping $ (71,072) $ (50,498) $ 3,565 Gaming & Entertainment 54,001 57,299 53,425 Health & Wellness 67,207 63,575 66,215 Connectivity 79,374 70,591 78,362 Cybersecurity & Martech 54,961 43,210 50,962 Total segment income from operations 184,471 184,177 252,529 Corporate (1) (70,823) (51,566) (53,588) Income from operations $ 113,648 $ 132,611 $ 198,941 (1) Corporate includes costs associated with general, administrative, and other expenses that are managed on a global basis and that are not directly attributable to any particular segment.
Total Assets, Capital Expenditures, Depreciation and Amortization	Information on capital expenditures is set forth in the table below (in thousands). Years ended December 31, 2024 2023 2022 Capital expenditures: Technology & Shopping $ 13,609 $ 17,778 $ 25,088 Gaming & Entertainment 5,298 5,891 6,008 Health & Wellness 36,553 35,070 31,559 Connectivity 24,742 25,182 22,394 Cybersecurity & Martech 25,062 24,712 21,094 Total from reportable segments 105,264 108,633 106,143 Corporate 1,371 96 11 Total capital expenditures $ 106,635 $ 108,729 $ 106,154
Revenues and Long-lived Assets by Geographic Information	Such information attributes revenues based on jurisdictions where revenues are reported (in thousands). Years ended December 31, 2024 2023 2022 Revenues: United States $ 1,165,571 $ 1,137,857 $ 1,181,936 All other countries 236,117 226,171 209,061 Total $ 1,401,688 $ 1,364,028 $ 1,390,997 Long-lived assets, excluding goodwill and other intangible assets are as follows (in thousands): December 31, 2024 2023 Long-lived assets: United States $ 178,732 $ 161,913 All other countries 44,733 50,820 Total $ 223,465 $ 212,733

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Non-cash Investing and Financing Activities	Non-cash investing and financing activities were as follows (in thousands): Years ended December 31, 2024 2023 2022 Non-cash investing activity: Property and equipment, accrued but unpaid $ — $ 55 $ 150 Right-of-use assets acquired in exchange for operating lease obligations $ 13,372 $ 1,597 $ 4,130 Purchase of equity investments with common stock $ — $ 13,500 $ — Disposition of Consensus common stock (1) $ — $ — $ 112,286 Non-cash financing activity: Debt principal settled in exchange for Consensus common stock (1) $ — $ — $ 112,286 Increase in fair value of conversion feature on 3.625% Convertible Notes $ 4,001 $ — $ — Excise tax on share repurchases $ 1,099 $ — $ — (1) During the year ended December 31, 2022, the Company disposed $160.1 million of its investment in Consensus in exchange for $112.3 million of debt and recorded $47.8 million of loss on investment, net.
Schedule of Cash Flow, Supplemental Disclosures	Supplemental data (in thousands): Years ended December 31, 2024 2023 2022 Interest paid $ 28,856 $ 38,653 $ 36,168 Income taxes paid, net of refunds $ 68,731 $ 64,594 $ 59,543
Cash Flow, Operating Capital	Operating cash outflows related to lease liabilities were as follows (in thousands): Years ended December 31, 2024 2023 2022 Operating cash outflows related to lease liabilities $ 17,167 $ 23,230 $ 26,921

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Reclassification out of Accumulated Other Comprehensive Loss (Income)	The following table summarizes the changes in accumulated balances of other comprehensive loss (income), net of tax, for the years ended December 31, 2024, 2023, and 2022 (in thousands): Unrealized Gains (Losses) on Investments Foreign Currency Translation Total Balance as of January 1, 2022 $ 169 $ (57,391) (57,222) Other comprehensive income (loss) before reclassifications 272 (32,479) (32,207) Consensus separation — 4,056 4,056 Balance as of December 31, 2022 $ 441 $ (85,814) $ (85,373) Other comprehensive income before reclassifications 96 13,657 13,753 Balance as of December 31, 2023 $ 537 $ (72,157) $ (71,620) Other comprehensive income (loss) before reclassifications 1,575 (12,426) (10,851) Balance as of December 31, 2024 $ 2,112 $ (84,583) $ (82,471)

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2024 USD ($) subsidiary	Dec. 31, 2024 USD ($) subsidiary	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Nov. 15, 2019
Loss from discontinued operations, net of tax		$ 0	$ 0	$ 1,709
Depreciation and amortization		211,916	236,966	233,400
General and administrative expense		$ 203,461	195,726	181,871
Number of operating segments | subsidiary	5
Number of reportable segments | subsidiary	5	5
Goodwill impairment		$ 85,273	56,850	27,369
Stockholders' equity attributable to parent	$ 1,810,882	1,810,882	1,892,998	1,892,611	$ 1,967,732
Net deferred tax liabilities	(46,018)	(46,018)	(45,503)
Direct costs		200,323	185,650	184,546
Research, development, and engineering		67,373	68,860	74,093
Advertising costs incurred		114,800	120,800	128,800
Foreign currency translation adjustment		(12,426)	13,657	(32,479)
Foreign exchange realized gains (losses)		(1,000)	(3,900)	8,200
Revision of Prior Period, Reclassification, Adjustment | Direct costs
Depreciation and amortization			(11,600)	(11,000)
Revision of Prior Period, Reclassification, Adjustment | General, administrative, and other related costs
Depreciation and amortization			(225,300)	(222,400)
Retained earnings
Stockholders' equity attributable to parent	1,401,034	1,401,034	1,491,956	1,537,830	1,515,358
Additional paid-in capital
Stockholders' equity attributable to parent	$ 491,891	$ 491,891	$ 472,201	439,681	509,122
Cumulative Effect, Period of Adoption, Adjustment
Stockholders' equity attributable to parent					(64,701)
Net deferred tax liabilities				21,200
Cumulative Effect, Period of Adoption, Adjustment | Retained earnings
Stockholders' equity attributable to parent				23,400	23,436
Cumulative Effect, Period of Adoption, Adjustment | Additional paid-in capital
Stockholders' equity attributable to parent				(88,100)	$ (88,137)
Minimum | Trade names and trademarks
Useful life	2 years	2 years
Minimum | Customer relationships
Useful life	3 years	3 years
Minimum | Other intangibles
Useful life	1 year	1 year
Maximum | Trade names and trademarks
Useful life	20 years	20 years
Maximum | Customer relationships
Useful life	16 years	16 years
Maximum | Other intangibles
Useful life	10 years	10 years
Equipment | Minimum
Estimated useful lives of property and equipment	1 year	1 year
Equipment | Maximum
Estimated useful lives of property and equipment	10 years	10 years
Software and Software Development Costs
Estimated useful lives of property and equipment	3 years	3 years
1.75% Convertible Notes | Cumulative Effect, Period of Adoption, Adjustment
Convertible notes, increase in carrying amount				$ 85,900
1.75% Convertible Notes | Convertible Debt
Stated interest rate				1.75%		1.75%
1.75% Convertible Notes | Convertible Debt | Cumulative Effect, Period of Adoption, Adjustment
Stated interest rate				1.75%

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Settlement receivables, net	$ 296,553	$ 0
Trade receivables, net	363,670	337,703
Accounts receivable, net	$ 660,223	$ 337,703

Basis of Presentation and Sum_6

Basis of Presentation and Summary of Significant Accounting Policies - Allowance for Credit Losses on Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 6,871	$ 6,868	$ 9,811
Increases (decreases) to bad debt expense	2,898	2,809	(255)
Write-offs, net of recoveries	(1,621)	(2,806)	(2,688)
Ending balance	$ 8,148	$ 6,871	$ 6,868

Basis of Presentation and Sum_7

Basis of Presentation and Summary of Significant Accounting Policies - Accounts Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Accounts payable	$ 164,352	$ 123,256
Settlement payables, net	408,747	0
Accrued employee related costs	55,800	50,068
Other accrued liabilities	41,870	43,612
Total Accounts payable and accrued expenses	$ 670,769	$ 216,936

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total Revenues	$ 1,401,688	$ 1,364,028	$ 1,390,997
Reportable segments
Disaggregation of Revenue [Line Items]
Total Revenues	1,401,688	1,364,028	1,390,997
Reportable segments | Technology & Shopping
Disaggregation of Revenue [Line Items]
Total Revenues	361,882	330,557	384,929
Reportable segments | Technology & Shopping | Advertising and performance marketing
Disaggregation of Revenue [Line Items]
Total Revenues	345,655	310,733	354,545
Reportable segments | Technology & Shopping | Subscription and licensing
Disaggregation of Revenue [Line Items]
Total Revenues	7,158	8,256	10,052
Reportable segments | Technology & Shopping | Other
Disaggregation of Revenue [Line Items]
Total Revenues	9,069	11,568	20,332
Reportable segments | Gaming & Entertainment
Disaggregation of Revenue [Line Items]
Total Revenues	180,276	168,821	166,325
Reportable segments | Gaming & Entertainment | Advertising and performance marketing
Disaggregation of Revenue [Line Items]
Total Revenues	120,788	114,074	112,305
Reportable segments | Gaming & Entertainment | Subscription and licensing
Disaggregation of Revenue [Line Items]
Total Revenues	59,468	54,747	54,020
Reportable segments | Gaming & Entertainment | Other
Disaggregation of Revenue [Line Items]
Total Revenues	20	0	0
Reportable segments | Health & Wellness
Disaggregation of Revenue [Line Items]
Total Revenues	362,408	361,923	335,883
Reportable segments | Health & Wellness | Advertising and performance marketing
Disaggregation of Revenue [Line Items]
Total Revenues	299,474	309,182	304,379
Reportable segments | Health & Wellness | Subscription and licensing
Disaggregation of Revenue [Line Items]
Total Revenues	49,538	41,185	21,244
Reportable segments | Health & Wellness | Other
Disaggregation of Revenue [Line Items]
Total Revenues	13,396	11,556	10,260
Reportable segments | Connectivity
Disaggregation of Revenue [Line Items]
Total Revenues	213,620	211,518	191,254
Reportable segments | Connectivity | Advertising and performance marketing
Disaggregation of Revenue [Line Items]
Total Revenues	11,926	13,112	16,353
Reportable segments | Connectivity | Subscription and licensing
Disaggregation of Revenue [Line Items]
Total Revenues	185,994	179,286	159,150
Reportable segments | Connectivity | Other
Disaggregation of Revenue [Line Items]
Total Revenues	15,700	19,120	15,751
Reportable segments | Cybersecurity & Martech
Disaggregation of Revenue [Line Items]
Total Revenues	283,502	291,209	312,606
Reportable segments | Cybersecurity & Martech | Subscription and licensing
Disaggregation of Revenue [Line Items]
Total Revenues	283,502	291,209	312,606
Reportable segments | Cybersecurity & Martech | Other
Disaggregation of Revenue [Line Items]
Total Revenues	0	0	0
Corporate
Disaggregation of Revenue [Line Items]
Total Revenues	$ 0	$ 0	$ 0

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Contract liability, revenue recognized	$ 181.7	$ 160.1
Revenue, remaining performance obligation, amount	71.9
Capitalized costs	14.2	14.9
Amortization of capitalized costs expense	$ 14.6	$ 12.9	$ 15.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, percentage	66%
Performance obligation, expected duration	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, percentage	34%
Performance obligation, expected duration

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) acquisition	Dec. 31, 2022 USD ($)	Sep. 12, 2024	Feb. 05, 2024
Business Acquisition [Line Items]
Acquisition of businesses, net of cash received	$ 217,570	$ 9,492	$ 104,094
Total Revenues	1,401,688	1,364,028	1,390,997
Goodwill	1,580,258	1,546,065	$ 1,591,474
Increase (decrease) in goodwill from adjustment under purchase accounting		$ (72)
TDS Gift Cards
Business Acquisition [Line Items]
Equity interest acquired (percentage)					100%
Enterprise value	187,588
Goodwill	81,248
CNET Media, Inc
Business Acquisition [Line Items]
Equity interest acquired (percentage)				100%
Enterprise value	154,248
Goodwill	36,607
Fiscal 2024 Acquisitions
Business Acquisition [Line Items]
Enterprise value	365,000
Acquisition of businesses, net of cash received	219,000
Total Revenues	$ 83,200
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Number of immaterial acquisitions | acquisition		2
Fiscal 2023 Acquisitions
Business Acquisition [Line Items]
Goodwill		$ 6,500
Definite-lived intangibles in connection with acquisition		7,200
Increase (decrease) in goodwill from adjustment under purchase accounting		$ (100)
Lifecycle Marketing Group Limited
Business Acquisition [Line Items]
Equity interest acquired (percentage)			100%
FitNow, Inc.
Business Acquisition [Line Items]
Equity interest acquired (percentage)			100%
Fiscal 2022 Acquisitions
Business Acquisition [Line Items]
Enterprise value			$ 121,704
Acquisition of businesses, net of cash received			121,700
Goodwill			95,737
Revenue of acquiree since acquisition date			33,000
Total consideration of transactions			151,400
Fair value of assets			$ 7,400

Business Acquisitions - Allocat

Business Acquisitions - Allocation of Aggregate Purchase Consideration (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Intangible assets	$ 217,903
Goodwill	1,580,258	$ 1,546,065	$ 1,591,474
Expected income tax deductible amount	4,500
Customer relationships
Business Acquisition [Line Items]
Intangible assets	146,215
Other intangibles
Business Acquisition [Line Items]
Intangible assets	43,793
TDS Gift Cards
Business Acquisition [Line Items]
Cash	142,957
Accounts receivable and other current assets	171,290
Accounts receivable	170,700
Intangible assets	108,340
Goodwill	81,248
Deferred tax asset, noncurrent	0
Other assets	203
Accounts payable and other current liabilities	(290,161)
Deferred tax liability, noncurrent	(25,442)
Deferred revenue, noncurrent	0
Other noncurrent liabilities	(847)
Total	187,588
Settlement receivables, net	166,800
CNET Media, Inc
Business Acquisition [Line Items]
Cash	0
Accounts receivable and other current assets	16,351
Accounts receivable	15,600
Intangible assets	101,000
Goodwill	36,607
Deferred tax asset, noncurrent	11,412
Other assets	655
Accounts payable and other current liabilities	(3,819)
Deferred tax liability, noncurrent	0
Deferred revenue, noncurrent	(7,958)
Other noncurrent liabilities	0
Total	$ 154,248
Fiscal 2022 Acquisitions
Business Acquisition [Line Items]
Accounts receivable			7,433
Prepaid expenses and other current assets			4,915
Property and equipment			369
Operating lease right-of-use assets, noncurrent			545
Goodwill			95,737
Other assets			11
Accounts payable and accrued expenses			(6,221)
Deferred revenue			(21,474)
Deferred tax liability			(10,140)
Other noncurrent liabilities			(516)
Total			121,704
Expected income tax deductible amount			1,200
Fiscal 2022 Acquisitions | Trade names
Business Acquisition [Line Items]
Intangible assets			12,839
Fiscal 2022 Acquisitions | Customer relationships
Business Acquisition [Line Items]
Intangible assets			20,040
Fiscal 2022 Acquisitions | Other intangibles
Business Acquisition [Line Items]
Intangible assets			$ 18,166

Business Acquisitions - Amounts

Business Acquisitions - Amounts Assigned to Intangible Assets by Type (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Business Acquisition [Line Items]
Gross Carrying Value	$ 217,903
Customer relationships
Business Acquisition [Line Items]
Gross Carrying Value	$ 146,215
Weighted Average Estimated Life	10 years
Trade names and trademarks
Business Acquisition [Line Items]
Gross Carrying Value	$ 27,895
Weighted Average Estimated Life	9 years
Other intangibles
Business Acquisition [Line Items]
Gross Carrying Value	$ 43,793
Weighted Average Estimated Life	5 years

Business Acquisitions - Supplem

Business Acquisitions - Supplementary Information on Unaudited Pro Forma Financial Basis (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fiscal 2024 Acquisitions
Revenues	$ 1,470,182	$ 1,521,064
Net income from continuing operations	$ 49,433	$ 22,206
Income per common share from continuing operations - Basic (in dollars per share)	$ 1.11	$ 0.48
Income per common share from continuing operations - Diluted (in dollars per share)	$ 1.11	$ 0.48
Fiscal 2022 Acquisitions
Revenues			$ 1,407,300
Net income from continuing operations			$ 64,877
Income per common share from continuing operations - Basic (in dollars per share)			$ 1.38
Income per common share from continuing operations - Diluted (in dollars per share)			$ 1.38

Business Acquisitions - Contrac

Business Acquisitions - Contractual Obligations (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
2025	$ 1,305
2026	363
Contractual obligation	$ 1,668

Investments - Narrative (Detail

Investments - Narrative (Details)		1 Months Ended		3 Months Ended	12 Months Ended
	Jul. 31, 2023 USD ($)	Sep. 30, 2022 shares	Jun. 30, 2022 shares	Jun. 30, 2024 shares	Dec. 31, 2024 USD ($) investment shares	Dec. 31, 2023 USD ($) investment shares	Dec. 31, 2022 USD ($) shares	May 19, 2023	Apr. 12, 2022 USD ($)
Debt Securities, Available-for-Sale [Line Items]
Equity securities, shares owned (in shares) | shares					0	1,000,000
Debt conversion, converted instrument, shares issued | shares		500,000	2,300,000
Aggregate purchase price							$ 112,300,000
Shares sold (in shares) | shares				1,034,295		52,393
Consensus common stock						$ 27,100,000
Loss on investments, net					$ (7,654,000)	(28,138,000)	(53,888,000)
Cumulative gross unrealized gains on investment in corporate debt securities					$ 2,800,000	$ 700,000
Number of investments in an unrealized loss position | investment					0	0
Other-than-temporary impairment losses recognized on debt securities					$ 0	$ 0	0
Income (loss) from equity method investment, net of tax					11,223,000	(9,329,000)	(7,730,000)
Equity method investments					115,000,000	99,900,000
Corporate Debt Securities
Debt Securities, Available-for-Sale [Line Items]
Available for sale, debt securities, coupon rate								6%	4%
Investment in corporate debt securities									$ 15,000,000
Investment in corporate debt securities					$ 17,800,000	$ 15,700,000
Corporate Debt Securities | Minimum
Debt Securities, Available-for-Sale [Line Items]
Debt securities, term					1 year	1 year
Corporate Debt Securities | Maximum
Debt Securities, Available-for-Sale [Line Items]
Debt securities, term					5 years	5 years
Xyla, Inc.
Debt Securities, Available-for-Sale [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
Secured Debt | Revolving Credit Facility
Debt Securities, Available-for-Sale [Line Items]
Aggregate purchase price							$ 112,300,000
Public Stock Offering
Debt Securities, Available-for-Sale [Line Items]
Debt conversion, converted instrument, shares issued | shares							2,800,000

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details)	Dec. 31, 2024	Jul. 16, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 07, 2020	Nov. 15, 2019
4.625% Senior Notes Due in 2030 | 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%		1.75%
Measurement Input, Discount Rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.09		0.09
Measurement Input, Discount Rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.10		0.10
Measurement Input, Conversion Term | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, term	6 months		11 months
Measurement Input, Conversion Term | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, term	2 years		2 years 8 months

Fair Value Measurements - Fair

Fair Value Measurements - Fair Values of Financial Instruments Measured On Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 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	$ 17,788	15,699
Total assets measured at fair value	103,621	383,736
Contingent consideration	2,834	2,834
Total liabilities measured at fair value	2,834	2,834
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Consensus common stock		27,109
Investment in corporate debt securities	17,788	15,699
Total assets measured at fair value	103,621	383,736
Contingent consideration	2,834	2,834
Total liabilities measured at fair value	2,834	2,834
Money market and other funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	85,833	340,928
Money market and other funds | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	85,833	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	85,833	368,037
Contingent consideration	0	0
Total liabilities measured at fair value	0	0
Level 1 | Money market and other funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	85,833	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 | Money market and other funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	0	0
Level 3 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Consensus common stock		0
Investment in corporate debt securities	17,788	15,699
Total assets measured at fair value	17,788	15,699
Contingent consideration	2,834	2,834
Total liabilities measured at fair value	2,834	2,834
Level 3 | Money market and other funds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market and other funds	$ 0	$ 0

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Level 3 Financial Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 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	(200)
Payments	0	(355)
Balance as of December 31	2,834	2,834
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	2,089	113
Payments	0	0
Balance as of December 31	$ 17,788	$ 15,699

Fair Value Measurements - Carry

Fair Value Measurements - Carrying and Fair Value (Details) - USD ($)	Jul. 16, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 07, 2020	Nov. 15, 2019
4.625% Senior Notes Due in 2030 | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate					4.625%
Aggregate principal amount					$ 750,000,000
4.625% Senior Notes Due in 2030 | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		$ 457,211,000	$ 456,796,000
4.625% Senior Notes Due in 2030 | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		420,935,000	405,408,000
1.75% Convertible Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate				1.75%		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
1.75% Convertible Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		148,186,000	544,516,000
1.75% Convertible Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		139,976,000	519,492,000
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
3.625% Convertible Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		258,885,000	0
3.625% Convertible Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt instruments		$ 259,200,000	$ 0

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 558,925	$ 515,184
Less: Accumulated depreciation and amortization	(361,710)	(327,015)
Total property and equipment, net	197,216	188,169
Computer hardware, software, and related equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	546,777	502,564
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,820	2,836
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 7,328	$ 9,784

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 94.4	$ 92.1	$ 76.7

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Carrying Amounts of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Beginning balance	$ 1,546,065	$ 1,591,474
Goodwill acquired (Note 4)	129,190	6,451
Goodwill impairment	(85,273)	(56,850)	$ (27,369)
Purchase accounting adjustments		(72)
Foreign exchange translation	(5,741)	5,062
Goodwill removed due to sale of a business	(3,983)
Ending balance	1,580,258	1,546,065	1,591,474
Reportable segments
Goodwill [Roll Forward]
Goodwill impairment	(85,273)	(56,850)	(27,369)
Reportable segments | Technology & Shopping
Goodwill [Roll Forward]
Beginning balance	293,652	346,684
Goodwill acquired (Note 4)	117,855	3,849
Goodwill impairment	(85,273)	(56,850)	(27,369)
Purchase accounting adjustments		215
Foreign exchange translation	(194)	(246)
Goodwill removed due to sale of a business	(3,983)
Ending balance	322,057	293,652	346,684
Reportable segments | Gaming & Entertainment
Goodwill [Roll Forward]
Beginning balance	61,485	61,644
Goodwill acquired (Note 4)	6,811	0
Goodwill impairment	0	0	0
Purchase accounting adjustments		(219)
Foreign exchange translation	5	60
Goodwill removed due to sale of a business	0
Ending balance	68,301	61,485	61,644
Reportable segments | Health & Wellness
Goodwill [Roll Forward]
Beginning balance	403,257	399,982
Goodwill acquired (Note 4)	0	2,602
Goodwill impairment	0	0	0
Purchase accounting adjustments		(72)
Foreign exchange translation	(201)	745
Goodwill removed due to sale of a business	0
Ending balance	403,056	403,257	399,982
Reportable segments | Connectivity
Goodwill [Roll Forward]
Beginning balance	258,486	257,679
Goodwill acquired (Note 4)	0	0
Goodwill impairment	0	0	0
Purchase accounting adjustments		4
Foreign exchange translation	(1,544)	803
Goodwill removed due to sale of a business	0
Ending balance	256,942	258,486	257,679
Reportable segments | Cybersecurity & Martech
Goodwill [Roll Forward]
Beginning balance	529,185	525,485
Goodwill acquired (Note 4)	4,532	0
Goodwill impairment	0	0	0
Purchase accounting adjustments		0
Foreign exchange translation	(3,815)	3,700
Goodwill removed due to sale of a business	0
Ending balance	$ 529,902	$ 529,185	$ 525,485

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) reporting_unit	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 85,273	$ 56,850	$ 27,369
Amortization expense	117,500	144,900	156,700
Reportable segments
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	85,273	56,850	27,369
Technology & Shopping
Finite-Lived Intangible Assets [Line Items]
Accumulated impairment losses	169,500	84,200
Technology & Shopping | Reportable segments
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 85,273	$ 56,850	$ 27,369
Technology & Shopping | Reportable segments | Technology and Subsegment
Finite-Lived Intangible Assets [Line Items]
Number of reporting units | reporting_unit	2

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Historical Cost	$ 1,632,831	$ 1,420,232
Accumulated Amortization	1,207,082	1,094,826
Net	425,749	325,406
Trade names and trademarks
Finite-Lived Intangible Assets [Line Items]
Historical Cost	375,449	347,895
Accumulated Amortization	222,430	192,111
Net	153,019	155,784
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Historical Cost	836,254	692,634
Accumulated Amortization	620,926	555,384
Net	215,328	137,250
Other purchased intangibles
Finite-Lived Intangible Assets [Line Items]
Historical Cost	421,128	379,703
Accumulated Amortization	363,726	347,331
Net	$ 57,402	$ 32,372

Goodwill And Intangible Asset_5

Goodwill And Intangible Assets - Expected Amortization Expenses for Intangible Assets Subject To Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 114,658
2026	96,383
2027	73,690
2028	49,319
2029	32,343
Thereafter	59,356
Net	$ 425,749	$ 325,406

Debt - Summary of Long-term Deb

Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jul. 16, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 07, 2020	Nov. 15, 2019
Debt Instrument [Line Items]
Less: Unamortized discount	$ (5,676)		$ (2,463)
Less: Deferred issuance costs	(2,336)		(6,263)
Total long-term debt	864,282		1,001,312
Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount of Convertible Notes	0		0
Senior Notes | 4.625% Senior Notes Due in 2030
Debt Instrument [Line Items]
Stated interest rate					4.625%
Principal amount of Convertible Notes	460,038		460,038		$ 750,000
Less: Unamortized discount	(2,148)		(2,463)
Less: Deferred issuance costs	(679)		(779)
Convertible Debt
Debt Instrument [Line Items]
Principal amount of Convertible Notes	872,294		1,010,038
Convertible Debt | 1.75% Convertible Notes
Debt Instrument [Line Items]
Stated interest rate				1.75%		1.75%
Principal amount of Convertible Notes	149,109		550,000
Less: Deferred issuance costs	(923)		(5,484)			$ (2,800)
Convertible Debt | 3.625% Convertible Notes
Debt Instrument [Line Items]
Stated interest rate		3.625%
Principal amount of Convertible Notes	263,147		$ 0
Less: Unamortized discount	(3,528)
Less: Deferred issuance costs	$ (734)

Debt - Future Principal Payment

Debt - Future Principal Payments for Debt (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Principal
2025	$ 0
2026	149,109
2027	0
2028	263,147
2029	0
Thereafter	460,038
Total principal	872,294
Interest
2025	33,425
2026	33,426
2027	30,816
2028	26,047
2029	21,277
Thereafter	21,276
Total interest	$ 166,267

Debt - Narrative (Details)

Debt - Narrative (Details)											1 Months Ended			12 Months Ended			15 Months Ended
	Jul. 16, 2024 USD ($) tradingDay $ / shares	Jun. 18, 2024 USD ($)	Nov. 01, 2023 USD ($)	Sep. 15, 2022 USD ($)	Jun. 10, 2022 USD ($)	Oct. 07, 2021	Oct. 06, 2021	Apr. 07, 2021 USD ($)	Oct. 07, 2020 USD ($) fiscalQuarterPeriod	Nov. 15, 2019 USD ($) tradingDay $ / shares	Aug. 31, 2023 USD ($)	Sep. 30, 2022 USD ($) shares	Jun. 30, 2022 USD ($) shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jan. 01, 2022 USD ($)	May 01, 2021
Debt Instrument [Line Items]
Interest expense														$ 35,300,000	$ 41,600,000	$ 37,100,000
Debt conversion, converted instrument, shares issued | shares												500,000	2,300,000
Debt instrument, unamortized discount														5,676,000	2,463,000
Debt issuance costs														2,336,000	6,263,000
Increase in fair value of conversion feature on 3.625% Convertible Notes														4,001,000	$ 0	0
Tax effect														$ 1,000,000
Common stock, par value (in usd per share) | $ / shares	$ 0.01									$ 0.01				$ 0.01	$ 0.01
Debt instrument, basis spread on variable rate		0.10%
Aggregate purchase price																112,300,000
Gain on extinguishment of debt, net														$ 0	$ 0	(11,505,000)
Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount of Convertible Notes														0	0
Line of credit facility, maximum borrowing capacity		$ 350,000,000						$ 350,000,000						348,900,000	100,000,000
Increase in limit		$ 250,000,000						$ 250,000,000
3.625% Convertible Notes
Debt Instrument [Line Items]
Increase in fair value of conversion feature on 3.625% Convertible Notes	$ 4,000,000
Revolving Credit Facility | Secured Debt
Debt Instrument [Line Items]
Aggregate purchase price																112,300,000
Gain on extinguishment of debt, net																600,000
Bridge Loan | SOFR Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate								1.50%
Bridge Loan | SOFR Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate								2.25%
Bridge Loan | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate								0.50%
Bridge Loan | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate								1.25%
Senior Notes | 4.625% Senior Notes Due in 2030
Debt Instrument [Line Items]
Stated interest rate									4.625%
Principal amount of Convertible Notes									$ 750,000,000					460,038,000	460,038,000
Face amount									750,000,000
Proceeds from debt, net of issuance costs									$ 742,700,000
Percentage principal outstanding to be eligible for redemption									50%
Covenant, leverage ratio, minimum									3.5
Covenant restricted payment threshold									$ 250,000,000
Covenant, EBITDA minimum									50%
Covenant, EBITDA minimum, fiscal quarter period | fiscalQuarterPeriod									4
Principal repurchased														290,000,000		181,238,000	$ 83,300,000
Debt instrument, unamortized discount														2,148,000	2,463,000
Effective interest rate									4.70%
Debt issuance costs														679,000	779,000
Aggregate purchase price																167,661,000
Senior Notes | 4.625% Senior Notes Due in 2030 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Percentage of principal amount redeemed									40%
Redemption price, percentage									104.625%
Senior Notes | 4.625% Senior Notes Due in 2030 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, percentage									100%
Senior Notes | 6.0% Senior Notes
Debt Instrument [Line Items]
Stated interest rate									6%
Convertible Debt
Debt Instrument [Line Items]
Principal amount of Convertible Notes														872,294,000	1,010,038,000
Convertible Debt | 1.75% Convertible Notes
Debt Instrument [Line Items]
Interest expense														7,680,000	19,232,000	$ 11,634,000
Stated interest rate										1.75%						1.75%
Principal amount of Convertible Notes														149,109,000	550,000,000
Face amount										$ 550,000,000				149,100,000
Proceeds from debt, net of issuance costs										$ 537,100,000
Interest payable														$ 1,500,000
Additional interest, percentage																			0.50%
Interest expense			$ 700,000												$ 7,700,000
Interest expense paid											$ 7,000,000
Convertible debt conversion ratio						0.0093783	0.0079864
Convertible debt conversion price (in usd per share) | $ / shares										$ 125.21				$ 106.63
Debt conversion, converted instrument, shares issued | shares														1,398,391	5,158,071
Gross debt issuance costs										$ 12,900,000
Accumulated amortization of debt issuance costs										$ 10,100,000
Effective interest rate	4.20%									5.50%
Debt issuance costs										$ 2,800,000				$ 923,000	$ 5,484,000
Repayments of convertible debt	$ 135,000,000
Aggregate principal including cash payment	$ 400,900,000
Convertible Debt | 1.75% Convertible Notes | Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument [Line Items]
Stated interest rate																1.75%
Debt instrument, unamortized discount																		$ 87,300,000
Convertible Debt | 1.75% Convertible Notes | 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
Convertible Debt | 1.75% Convertible Notes | 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
Convertible Debt | 3.625% Convertible Notes
Debt Instrument [Line Items]
Interest expense														4,943,000
Stated interest rate	3.625%
Principal amount of Convertible Notes														$ 263,147,000	$ 0
Face amount	$ 263,100,000
Convertible debt conversion ratio	0.01
Convertible debt conversion price (in usd per share) | $ / shares														$ 100
Debt conversion, converted instrument, shares issued | shares														2,631,470
Debt instrument, unamortized discount														$ 3,528,000
Debt issuance costs														$ 734,000
Convertible Debt | 3.625% Convertible Notes | 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
Convertible Debt | 3.625% Convertible Notes | 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
Bridge Loan | Bridge Loan | Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate								0.50%
Bridge Loan | Bridge Loan | SOFR Rate
Debt Instrument [Line Items]
Derivative variable rate								1%
Line of Credit | Credit Agreement
Debt Instrument [Line Items]
Debt instrument, leverage ratio, maximum														4
Debt instrument, interest coverage ratio, minimum														3
Line of Credit | Credit Agreement | Secured Debt
Debt Instrument [Line Items]
Face amount				$ 22,300,000	$ 90,000,000
Maturity date, period after funding date				60 days	60 days
Proceeds from bridge loan												$ 22,300,000	$ 90,000,000
Aggregate purchase price				$ 22,300,000
Line of Credit | Credit Agreement | Secured Debt | Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Derivative variable rate				0.50%	0.50%
Line of Credit | Credit Agreement | Secured Debt | LIBOR Rate
Debt Instrument [Line Items]
Derivative variable rate				1%	1%

Debt - Repurchases (Details)

Debt - Repurchases (Details) - USD ($) $ in Thousands	12 Months Ended		15 Months Ended
	Dec. 31, 2024	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Aggregate purchase price		$ 112,300
4.625% Senior Notes Due in 2030 | Senior Notes
Debt Instrument [Line Items]
Principal repurchased	$ 290,000	181,238	$ 83,300
Aggregate purchase price		167,661
(Gain) Loss on repurchase		$ (12,060)

Debt - Additional Information R

Debt - Additional Information Related to Senior Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Oct. 07, 2020
Debt Instrument [Line Items]
Less: Unamortized discount	$ (5,676)	$ (2,463)
Less: Deferred issuance costs	(2,336)	(6,263)
4.625% Senior Notes Due in 2030 | Senior Notes
Debt Instrument [Line Items]
Principal amount of 4.625% Senior Notes	460,038	460,038	$ 750,000
Less: Unamortized discount	(2,148)	(2,463)
Less: Deferred issuance costs	(679)	(779)
Total long-term debt	$ 457,211	$ 456,796

Debt - Components of Interest E

Debt - Components of Interest Expense for Senior Notes (Details) - 4.625% Senior Notes Due in 2030 - Senior Notes - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Oct. 07, 2020
Debt Instrument [Line Items]
Stated interest rate				4.625%
Coupon interest expense	$ 21,269	$ 21,159	$ 24,500
Amortization of discount and debt issuance costs	415	396	442
Total interest expense	$ 21,684	$ 21,555	$ 24,942

Debt - Additional Information_2

Debt - Additional Information Related to Convertible Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jul. 16, 2024	Dec. 31, 2023	Dec. 31, 2022	Nov. 15, 2019
Debt Instrument [Line Items]
Less: Unamortized discount	$ (5,676)		$ (2,463)
Less: Deferred issuance costs	(2,336)		(6,263)
Convertible Debt
Debt Instrument [Line Items]
Principal amount of convertible notes	872,294		1,010,038
1.75% Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Stated interest rate				1.75%	1.75%
Principal amount of convertible notes	149,109		550,000
Less: Deferred issuance costs	(923)		(5,484)		$ (2,800)
Net carrying amount of convertible notes	148,186		544,516
3.625% Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Stated interest rate		3.625%
Principal amount of convertible notes	263,147		$ 0
Less: Unamortized discount	(3,528)
Less: Deferred issuance costs	(734)
Net carrying amount of convertible notes	$ 258,885

Debt - Components of Interest_2

Debt - Components of Interest Expense Related to Convertible Notes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total interest expense	$ 35,300	$ 41,600	$ 37,100
1.75% Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Coupon interest expense	6,429	17,369	9,776
Amortization of debt issuance costs	1,251	1,863	1,858
Total interest expense	7,680	19,232	11,634
3.625% Convertible Notes | Convertible Debt
Debt Instrument [Line Items]
Coupon interest expense	4,372
Amortization of debt issuance costs	571
Total interest expense	4,943
4.625% Senior Notes Due in 2030 | Senior Notes
Debt Instrument [Line Items]
Coupon interest expense	21,269	21,159	24,500
Amortization of debt issuance costs	$ 415	$ 396	$ 442

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease renewal term	5 years
Operating lease, impairment loss	$ 0.9	$ 2.2	$ 1
Sublease income	5.3	$ 6	$ 6.8
Future minimum payments due	$ 3.6
Minimum
Lessee, Lease, Description [Line Items]
Operating lease terms	3 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease terms	5 years

Leases - Balance Sheet and Othe

Leases - Balance Sheet and Other Supplemental Operating Lease Information (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 26,249	$ 24,564
Operating lease liabilities, current	8,666	15,801
Operating lease liabilities, noncurrent	21,797	16,626
Total operating lease liabilities	$ 30,463	$ 32,427
Weighted average remaining lease term	3 years 10 months 24 days	3 years
Weighted average discount rate	4.28%	3.27%
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease cost	$ 10,760	$ 15,065
Short-term lease cost	519	1,070
Total lease cost	$ 11,279	$ 16,135

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
2025	$ 9,371
2026	7,716
2027	5,419
2028	3,708
2029	3,796
Thereafter	3,995
Total lease payments	34,005
Less: Imputed interest	3,542
Present value of operating lease liabilities	$ 30,463	$ 32,427

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Estimate of possible loss	$ 25.2	$ 28.1

Income Taxes - Provision for In

Income Taxes - Provision for Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ (33,333)	$ (29,040)	$ (42,698)
State	(8,625)	(8,179)	(12,184)
Foreign	(18,234)	(16,940)	(16,066)
Total current	(60,192)	(54,159)	(70,948)
Deferred:
Federal	14,684	20,817	12,667
State	2,144	7,177	(1,577)
Foreign	1,994	2,023	1,901
Total deferred	18,822	30,017	12,991
Income tax expense from continuing operations	$ (41,370)	$ (24,142)	$ (57,957)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Rate with Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Statutory tax rate	21%	21%	21%
State income taxes, net	5.90%	6.50%	5%
Foreign rate differential	4.30%	3.10%	1%
Foreign income inclusion	3.10%	6%	5.40%
Foreign tax credit	(3.10%)	(4.70%)	(5.10%)
Reserve for uncertain tax positions	(6.10%)	(5.90%)	(3.20%)
Valuation allowance	6.30%	0%	0%
Impact on deferred taxes of enacted tax law and rate changes	0%	0.60%	1.40%
Tax credits and incentives	(6.50%)	(8.40%)	(5.00%)
Impairment of goodwill	19.20%	16%	0%
Mark-to market on investment in Consensus	0%	0%	22.10%
Return to provision adjustments	(2.30%)	(5.10%)	1.10%
Executive compensation	3.20%	2.40%	1.50%
Other	(0.60%)	0.70%	(1.00%)
Effective tax rates	44.40%	32.20%	44.20%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)		12 Months Ended
	Oct. 07, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Tax expense recognized from deferred tax liability	$ 13,400,000
Total deferred tax assets		$ 89,673,000	$ 76,887,000
Valuation allowance		(7,669,000)	(1,720,000)	$ (1,699,000)	$ (1,812,000)
Deferred tax asset, interest carryforward		23,400,000
Undistributed earnings from foreign subsidiaries		178,500,000
Prepaid tax payments		6,400,000	4,700,000
Income before income taxes, domestic operations		25,100,000	25,800,000	71,800,000
Income before income taxes, foreign operations		68,100,000	49,200,000	59,400,000
Unrecognized tax benefits		22,617,000	29,158,000	34,208,000	$ 39,527,000
Unrecognized tax benefits, if recognized, would affect the Company’s effective tax rat		21,200,000	27,400,000	32,700,000
Unrecognized tax benefits, interest and penalties accrued		7,400,000	7,100,000	6,300,000
Unrecognized tax benefits, interest and penalty expense (benefit)		300,000	$ 700,000	$ 700,000
State and Local Jurisdiction | Research Tax Credit Carryforward
Income Taxes [Line Items]
Tax credit carryforward, amount		4,100,000
Foreign Tax Authority
Income Taxes [Line Items]
Tax credit carryforward, amount		0
Domestic Tax Authority
Income Taxes [Line Items]
Net operating loss carryforwards (“NOLs”)		3,200,000
NOLs subject to expiration		$ 3,200,000

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss and other carryforwards	$ 14,923	$ 15,762
Tax credit carryforwards	3,727	4,743
Accrued expenses	12,019	14,629
Allowance for bad debt	2,514	2,003
Share-based compensation expense	8,634	6,097
Operating lease liabilities	5,717	6,320
Basis difference in fixed assets	39,242	22,191
Deferred revenue	3,413	2,420
Convertible debt	2,952	0
State taxes	2,526	1,974
Other	1,675	2,468
Deferred tax assets, gross	97,342	78,607
Less: valuation allowance	(7,669)	(1,720)	$ (1,699)	$ (1,812)
Total deferred tax assets	89,673	76,887
Deferred tax liabilities:
Operating lease right-of-use assets	(5,040)	(4,618)
Basis difference in intangible assets	(103,676)	(86,712)
Unrealized gains on investments	(13,364)	(13,512)
Prepaid insurance	(2,111)	(2,835)
Other	(4,014)	(5,982)
Total deferred tax liabilities	(128,205)	(113,659)
Net deferred tax liabilities	$ (38,532)	$ (36,772)

Income Taxes - Schedule of Valu

Income Taxes - Schedule of Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Beginning balance	$ 1,720	$ 1,699	$ 1,812
Charges to costs and expenses	5,949	21	0
Write-offs and recoveries	0	0	(113)
Ending balance	$ 7,669	$ 1,720	$ 1,699

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 29,158	$ 34,208	$ 39,527
Increases related to tax positions during a prior year	275	218	0
Decreases related to tax positions taken during a prior year	(540)	(1,023)	(2,816)
Increases related to tax positions taken in the current year	635	744	819
Decreases related to expiration of statute of limitations	(6,911)	(4,989)	(3,322)
Ending balance	$ 22,617	$ 29,158	$ 34,208

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Millions	12 Months Ended			53 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024	Aug. 02, 2024	Aug. 06, 2020
Equity, Class of Treasury Stock [Line Items]
Number of shares purchased from plan participants (in shares)	80,241	69,622	72,886
Decrease for tax withholding obligation	$ 4.1	$ 4.6	$ 7
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
Incremental number of shares (in shares)					5,000,000
Shares repurchased under the program (in shares)	3,500,000	1,585,846	736,536	8,758,692
Repurchases of shares of stock	$ 181.8	$ 104.9	$ 71.3
Value of shares repurchased				$ 583.6
Number of remaining shares available for purchase (in shares)	6,241,308			6,241,308

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) d $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)	435,135	435,135	435,135	440,574
Options exercisable (in shares)	326,351	271,959	217,567
Options exercisable (in dollars per share) | $ / shares	$ 68.97	$ 68.97	$ 68.97
Exercise of stock options (in shares)	0	0	5,439
Total intrinsic values of options exercised in period | $			$ 400
Total fair value of options vested | $	$ 1,000	$ 1,000	1,100
Proceeds from exercise of stock options | $	0	0	148
Tax benefit realized for the tax deductions from option exercises | $			300
Issuance of common stock under employee stock purchase plan | $	$ 8,371	$ 8,727	$ 9,431
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, non-option equity instruments, outstanding, number	652,227	506,425	343,955	299,023
Unrecognized compensation expense, period for recognition	2 years
Restricted stock and restricted units granted (in shares)	413,053	305,549	154,022
Aggregate intrinsic value, outstanding | $	$ 33,200
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Unrecognized compensation expense | $	$ 1,000
Unrecognized compensation expense, period for recognition	1 year 1 month 6 days
Expected term (in years)	6 months	6 months	6 months
Restricted Stock and Restricted Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock and restricted units granted (in shares)	413,053	305,549	154,022
Restricted Stock and Restricted Stock Unit | Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	1 year
Restricted Stock and Restricted Stock Unit | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	8 years
Market-based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock and restricted units granted (in shares)	0	0	0
Weighted-average grant-date fair values of restricted stock awards granted (in dollars per share) | $ / shares	$ 87.17	$ 70.06	$ 87.11
Aggregate intrinsic value, nonvested | $	$ 28,300
Restricted Stock and Restricted Stock Unit, Market-based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit realized for the tax deductions from option exercises | $	2,300	$ 1,900	$ 2,800
Unrecognized compensation expense | $	50,800
Total fair value of restricted stock and restricted stock units vested | $	$ 15,900	$ 11,300	$ 12,400
Market-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, non-option equity instruments, outstanding, number	520,986	270,772	120,399	60,891
Lookback period | d	30
Restricted stock and restricted units granted (in shares)	308,970	167,606	100,193
Aggregate intrinsic value, outstanding | $	$ 27,100
Share-based Payment Arrangement, Measurement Input, Trading Days | d	20
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, period for recognition	1 year 1 month 6 days
Restricted stock and restricted units granted (in shares)	0	0	0
Aggregate intrinsic value, nonvested | $	$ 35,400
Minimum | Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	5 years
Minimum | Restricted Stock and Restricted Stock Unit | Senior Staff
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	3 years
Minimum | Market-based Restricted Stock Units
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
Award vesting rights, percentage	0%
Maximum | Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	8 years
Maximum | Restricted Stock and Restricted Stock Unit | Senior Staff
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting periods	4 years
Maximum | Market-based Restricted Stock Units
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
Award vesting rights, percentage	200%
2015 Stock Option Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, non-option equity instruments, outstanding, number	1,173,213
Employee Stock Purchase Plan | Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum issuance of common stock (in shares)	2,000,000
Additional shares available for grant (in shares)	819,505
Maximum employee subscription rate	15%
Expected term (in years)	6 months
Market value of common stock on the date of grant for incentive stock options	85%
Issuance of shares under employee stock purchase plan (in shares)	174,706	74,390	139,992
Estimated forfeiture rates	12.10%	12.50%	11.80%
Employee Stock Purchase Plan | Minimum | Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price under the Purchase Plan (in usd per share) | $ / shares	$ 46.84
Employee Stock Purchase Plan | Maximum | Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price under the Purchase Plan (in usd per share) | $ / shares	$ 48.88
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
Additional shares available for grant (in shares)	3,617,530

Share-Based Compensation - Effe

Share-Based Compensation - Effects of Share-based Compensation expense in the Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 40,915	$ 31,920	$ 26,601
Direct costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	248	262	341
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3,756	2,686	3,083
Research, development, and engineering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3,665	3,245	2,503
General, administrative, and other related costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 33,246	$ 25,727	$ 20,674

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Shares
Beginning balance (in shares)	435,135	435,135	440,574
Granted (in shares)	0	0	0
Exercised (in shares)	0	0	(5,439)
Canceled (in shares)	0	0	0
Ending balance (in shares)	435,135	435,135	435,135
Options exercisable (in shares)	326,351	271,959	217,567
Vested and expected to vest (in shares)	102,128
Weighted-Average Exercise Price
Beginning balance (in dollars per share)	$ 68.97	$ 68.97	$ 68.45
Granted (in dollars per share)	0	0	0
Exercised (in dollars per share)	0	0	27.15
Canceled (in dollars per share)	0	0	0
Ending balance (in dollars per share)	68.97	68.97	68.97
Options exercisable (in dollars per share)	68.97	$ 68.97	$ 68.97
Vested and expected to vest (in dollars per share)	$ 68.97
Weighted-Average Remaining Contractual Life (In Years)
Options outstanding at December 31, 2024	3 years
Exercisable at December 31, 2024	3 years
Vested and expected to vest at December 31, 2024	3 years
Aggregate Intrinsic Value
Options outstanding at December 31, 2024	$ 0
Exercisable at December 31, 2024	0
Vested and expected to vest at December 31, 2024	$ 0

Share-Based Compensation - Valu

Share-Based Compensation - Valuation Assumptions of Market-based Restricted Stock Units Granted (Details) - Market-based Restricted Stock Awards - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Underlying stock price at valuation date (in dollars per share)	$ 66.88	$ 77.80	$ 99.32
Expected volatility	32.90%	32%	36.70%
Risk-free interest rate	4.30%	4.10%	1.80%

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock and Restricted Stock Unit Award Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of shares
Vested and expected to vest (in dollars per share)	$ 68.97
Restricted Stock
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)	95,718	148,100	220,782
Granted (in shares)	0	0	0
Vested (in shares)	(40,735)	(52,060)	(67,762)
Canceled (in shares)	(154)	(322)	(4,920)
Ending balance (in shares)	54,829	95,718	148,100
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance (in dollars per share)	$ 70.17	$ 70.93	$ 72.07
Granted (in dollars per share)	0	0	0
Vested (in dollars per share)	71.73	72.29	74.13
Canceled (in dollars per share)	77.75	77.75	77.92
Ending balance (in dollars per share)	$ 68.97	$ 70.17	$ 70.93
Number of shares
Granted (in shares)	0	0	0
Vested (in shares)	(40,735)	(52,060)	(67,762)
Canceled (in shares)	(154)	(322)	(4,920)
Market-based Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)	163,181	163,181	163,181
Granted (in shares)	0	0	0
Vested (in shares)	0	0	0
Canceled (in shares)	0	0	0
Ending balance (in shares)	163,181	163,181	163,181
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance (in dollars per share)	$ 36.27	$ 36.27	$ 36.27
Granted (in dollars per share)	0	0	0
Vested (in dollars per share)	0	0	0
Canceled (in dollars per share)	0	0	0
Ending balance (in dollars per share)	$ 36.27	$ 36.27	$ 36.27
Number of shares
Granted (in shares)	0	0	0
Vested (in shares)	0	0	0
Canceled (in shares)	0	0	0
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	413,053	305,549	154,022
Vested (in shares)	(175,564)	(111,185)	(84,259)
Canceled (in shares)	(91,687)	(31,894)	(24,831)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance (in dollars per share)	$ 88.36	$ 102.53	$ 107.52
Granted (in dollars per share)	64.60	76.80	94.47
Vested (in dollars per share)	90.68	101.41	108.04
Canceled (in dollars per share)	74.44	83.82	94.02
Ending balance (in dollars per share)	$ 74.59	$ 88.36	$ 102.53
Number of shares
Beginning balance (in shares)	506,425	343,955	299,023
Granted (in shares)	413,053	305,549	154,022
Vested (in shares)	(175,564)	(111,185)	(84,259)
Canceled (in shares)	(91,687)	(31,894)	(24,831)
Ending balance (in shares)	652,227	506,425	343,955
Vested and expected to vest (in shares)	610,299
Vested and expected to vest (in dollars per share)	$ 74.53
Market-based Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	308,970	167,606	100,193
Vested (in shares)	0	0	(30,435)
Canceled (in shares)	(58,756)	(17,233)	(10,250)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance (in dollars per share)	$ 77.09	$ 87.04	$ 86.78
Granted (in dollars per share)	87.17	70.06	87.11
Vested (in dollars per share)	0	0	91.23
Canceled (in dollars per share)	79.88	77.98	89.73
Ending balance (in dollars per share)	$ 82.73	$ 77.09	$ 87.04
Number of shares
Beginning balance (in shares)	270,772	120,399	60,891
Granted (in shares)	308,970	167,606	100,193
Vested (in shares)	0	0	(30,435)
Canceled (in shares)	(58,756)	(17,233)	(10,250)
Ending balance (in shares)	520,986	270,772	120,399
Vested and expected to vest (in shares)	499,185
Vested and expected to vest (in dollars per share)	$ 82.54

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Expense Related to Purchase Plan (Details) - Share-based Payment Arrangement, Option	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	5.30%	3.40%	1.20%
Expected term (in years)	6 months	6 months	6 months
Expected volatility	31.40%	38.30%	40.70%

Defined Contribution 401(k) S_2

Defined Contribution 401(k) Savings Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Expenses incurred for contributions	$ 4.9	$ 5.2	$ 5.1

Earnings Per Share - Components

Earnings Per Share - Components of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator for basic and diluted net income per common share:
Net income from continuing operations	$ 63,047	$ 41,503	$ 65,466
Net income available to participating securities	0	(2)	(20)
Plus: Convertible Notes interest expense (after-tax)	0	0	0
Net income available to the Company's common shareholders from continuing operations, basic	63,047	41,501	65,446
Net income available to the Company's common shareholders from continuing operations, diluted	$ 63,047	$ 41,501	$ 65,446
Denominator:
Basic weighted-average outstanding shares of common stock	44,457,071	46,400,941	46,954,558
Diluted effect of:
Equity incentive plans	62,622	63,320	71,291
Convertible debt (in shares)	0	0	0
Diluted weighted-average outstanding shares of common stock (in shares)	44,519,693	46,464,261	47,025,849
Net income per share from continuing operations:
Basic (in dollars per share)	$ 1.42	$ 0.89	$ 1.39
Diluted (in dollars per share)	$ 1.42	$ 0.89	$ 1.39
Stock Options And Restricted Stock
Net income per share from continuing operations:
Antidilutive securities excluded from computation of earnings per share (in shares)	1,069,443	629,807	0
Convertible Debt Securities
Net income per share from continuing operations:
Antidilutive securities excluded from computation of earnings per share (in shares)	4,892,773	5,158,071	5,158,071

Segment Information - Narrative

Segment Information - Narrative (Details) - subsidiary	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024
Segment Reporting [Abstract]
Number of operating segments	5
Number of reportable segments	5	5

Segment Information - Reconcili

Segment Information - Reconciliation of Total Segment Operating Income to Consolidated Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total Revenues	$ 1,401,688	$ 1,364,028	$ 1,390,997
Operating Costs and Expenses [Abstract]
Goodwill impairment	85,273	56,850	27,369
Depreciation and amortization	211,916	236,966	233,400
Total operating costs and expenses	1,288,040	1,231,417	1,192,056
Income from operations	113,648	132,611	198,941
Reportable segments
Segment Reporting Information [Line Items]
Total Revenues	1,401,688	1,364,028	1,390,997
Operating Costs and Expenses [Abstract]
Salaries, benefits, and other employee expenses	430,786	405,178	397,819
Cloud computing, software, and other related expenses	102,477	86,420	83,609
Advertising and marketing related expenses	127,540	134,615	141,349
Partner payments	95,056	88,050	94,919
Professional and other third-party services	66,677	60,668	56,886
Goodwill impairment	85,273	56,850	27,369
Depreciation and amortization	211,830	237,920	233,372
Other	97,578	110,150	103,145
Total operating costs and expenses	1,217,217	1,179,851	1,138,468
Income from operations	184,471	184,177	252,529
Corporate
Segment Reporting Information [Line Items]
Total Revenues	0	0	0
Operating Costs and Expenses [Abstract]
Total operating costs and expenses	70,823	51,566	53,588
Income from operations	(70,823)	(51,566)	(53,588)
Technology & Shopping | Reportable segments
Segment Reporting Information [Line Items]
Total Revenues	361,882	330,557	384,929
Operating Costs and Expenses [Abstract]
Salaries, benefits, and other employee expenses	139,293	121,721	131,808
Cloud computing, software, and other related expenses	28,086	23,580	25,517
Advertising and marketing related expenses	51,418	55,185	61,380
Partner payments	7,063	7,721	9,572
Professional and other third-party services	20,455	15,025	11,953
Goodwill impairment	85,273	56,850	27,369
Depreciation and amortization	83,424	83,271	93,187
Other	17,942	17,702	20,578
Total operating costs and expenses	432,954	381,055	381,364
Income from operations	(71,072)	(50,498)	3,565
Gaming & Entertainment | Reportable segments
Segment Reporting Information [Line Items]
Total Revenues	180,276	168,821	166,325
Operating Costs and Expenses [Abstract]
Salaries, benefits, and other employee expenses	45,294	43,224	43,386
Cloud computing, software, and other related expenses	5,630	3,974	3,426
Advertising and marketing related expenses	12,226	9,468	10,626
Partner payments	27,262	26,637	29,965
Professional and other third-party services	5,908	3,629	1,964
Goodwill impairment	0	0	0
Depreciation and amortization	10,733	10,368	10,045
Other	19,222	14,222	13,488
Total operating costs and expenses	126,275	111,522	112,900
Income from operations	54,001	57,299	53,425
Health & Wellness | Reportable segments
Segment Reporting Information [Line Items]
Total Revenues	362,408	361,923	335,883
Operating Costs and Expenses [Abstract]
Salaries, benefits, and other employee expenses	115,509	109,401	99,808
Cloud computing, software, and other related expenses	13,903	11,599	10,172
Advertising and marketing related expenses	39,199	42,477	39,366
Partner payments	38,736	33,842	32,175
Professional and other third-party services	8,730	10,604	9,990
Goodwill impairment	0	0	0
Depreciation and amortization	52,766	59,870	55,981
Other	26,358	30,555	22,176
Total operating costs and expenses	295,201	298,348	269,668
Income from operations	67,207	63,575	66,215
Connectivity | Reportable segments
Segment Reporting Information [Line Items]
Total Revenues	213,620	211,518	191,254
Operating Costs and Expenses [Abstract]
Salaries, benefits, and other employee expenses	53,172	55,492	44,908
Cloud computing, software, and other related expenses	14,849	9,865	9,509
Advertising and marketing related expenses	2,898	3,296	2,790
Partner payments	932	730	0
Professional and other third-party services	14,356	13,199	10,575
Goodwill impairment	0	0	0
Depreciation and amortization	31,882	31,793	25,445
Other	16,157	26,552	19,665
Total operating costs and expenses	134,246	140,927	112,892
Income from operations	79,374	70,591	78,362
Cybersecurity & Martech | Reportable segments
Segment Reporting Information [Line Items]
Total Revenues	283,502	291,209	312,606
Operating Costs and Expenses [Abstract]
Salaries, benefits, and other employee expenses	77,518	75,340	77,909
Cloud computing, software, and other related expenses	40,009	37,402	34,985
Advertising and marketing related expenses	21,799	24,189	27,187
Partner payments	21,063	19,120	23,207
Professional and other third-party services	17,228	18,211	22,404
Goodwill impairment	0	0	0
Depreciation and amortization	33,025	52,618	48,714
Other	17,899	21,119	27,238
Total operating costs and expenses	228,541	247,999	261,644
Income from operations	$ 54,961	$ 43,210	$ 50,962

Segment Information - Total Cap

Segment Information - Total Capital Expenditures, Depreciation and Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditures	$ 106,635	$ 108,729	$ 106,154
Depreciation and amortization	211,916	236,966	233,400
Reportable segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditures	105,264	108,633	106,143
Depreciation and amortization	211,830	237,920	233,372
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditures	1,371	96	11
Technology & Shopping | Reportable segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditures	13,609	17,778	25,088
Depreciation and amortization	83,424	83,271	93,187
Gaming & Entertainment | Reportable segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditures	5,298	5,891	6,008
Depreciation and amortization	10,733	10,368	10,045
Health & Wellness | Reportable segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditures	36,553	35,070	31,559
Depreciation and amortization	52,766	59,870	55,981
Connectivity | Reportable segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditures	24,742	25,182	22,394
Depreciation and amortization	31,882	31,793	25,445
Cybersecurity & Martech | Reportable segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditures	25,062	24,712	21,094
Depreciation and amortization	$ 33,025	$ 52,618	$ 48,714

Segment Information - Revenues

Segment Information - Revenues and Long-lived Assets by Geographic Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 1,401,688	$ 1,364,028	$ 1,390,997
Long-lived assets		223,465	212,733
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	1,165,571	1,137,857	1,181,936
Long-lived assets		178,732	161,913
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 236,117	226,171	209,061
Long-lived assets		$ 44,733	$ 50,820

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Non-Cash (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 16, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Non-cash investing activity:
Property and equipment, accrued but unpaid		$ 0	$ 55	$ 150
Right-of-use assets acquired in exchange for operating lease obligations		13,372	1,597	4,130
Purchase of equity investments with common stock		0	13,500	0
Disposition of investment in Consensus		0	0	112,286
Non-cash financing activity:
Debt principal settled in exchange for Consensus common stock		0	0	112,286
Increase in fair value of conversion feature on 3.625% Convertible Notes		4,001	0	0
Excise tax on share repurchases		$ 1,099	$ 0	0
Disposition of investment				160,100
Aggregate purchase price				112,300
Loss on sale on investments				$ (47,800)
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
Non-cash financing activity:
Stated interest rate	3.625%

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Supplemental Data (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 28,856	$ 38,653	$ 36,168
Income taxes paid, net of refunds	$ 68,731	$ 64,594	$ 59,543

Supplemental Cash Flow Inform_5

Supplemental Cash Flow Information - Operating Cash Outflows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Operating cash outflows related to lease liabilities	$ 17,167,000	$ 23,230,000	$ 26,921,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Summary of Changes in Accumulated Balances of Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,892,998	$ 1,892,611	$ 1,967,732
Ending balance	1,810,882	1,892,998	1,892,611
Accumulated other comprehensive income (loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(71,620)	(85,373)	(57,222)
Other comprehensive income (loss) before reclassifications	(10,851)	13,753	(32,207)
Consensus separation			4,056
Ending balance	(82,471)	(71,620)	(85,373)
Unrealized Gains (Losses) on Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	537	441	169
Other comprehensive income (loss) before reclassifications	1,575	96	272
Consensus separation			0
Ending balance	2,112	537	441
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(72,157)	(85,814)	(57,391)
Other comprehensive income (loss) before reclassifications	(12,426)	13,657	(32,479)
Consensus separation			4,056
Ending balance	$ (84,583)	$ (72,157)	$ (85,814)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Accumulated other comprehensive loss	$ 0	$ 0	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 25, 2017	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Variable interest entity, amount committed to invest	$ 200,000
Variable interest entity, ownership percentage	76.60%
Annual management fee percentage	2%
Entitled carried interest percentage	20%
Fund investment period	6 years
Equity method investments			$ 115,000	$ 99,900
Consensus Cloud Solutions
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by parent			19.90%
Fund
Related Party Transaction [Line Items]
Equity method investments	$ 128,800
Related Party
Related Party Transaction [Line Items]
Management fees recognized		$ 1,500
Consensus Cloud Solutions | Related Party
Related Party Transaction [Line Items]
Expenses from transactions with related party		1,200
Offset to lease expense		$ 1,500