SPS Commerce (SPSC) 10-K 21 Feb 23 2022 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Feb. 10, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-34702
Entity Registrant Name	SPS COMMERCE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-2015127
Entity Address, Address Line One	333 South Seventh Street
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55402
City Area Code	612
Local Phone Number	435-9400
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	SPSC
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
Entity Shell Company	false
Entity Public Float			$ 4.1
Entity Common Stock, Shares Outstanding		36,312,238
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCEPortions of the Company’s definitive Proxy Statement for the Annual Meeting of Stockholders to be held on May 12, 2023 (the “2023 Proxy Statement”), which is expected to be filed within 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K, are incorporated by reference in Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0001092699
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	185
Auditor Name	KPMG, LLP
Auditor Location	Minneapolis, MN

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 162,893	$ 207,552
Short-term investments	51,412	49,758
Accounts receivable	42,501	38,811
Allowance for credit losses	(3,066)	(4,249)
Accounts receivable, net	39,435	34,562
Deferred costs	52,755	44,529
Other assets	16,319	16,042
Total current assets	322,814	352,443
Property and equipment, net	35,458	31,901
Operating lease right-of-use assets	9,170	10,851
Goodwill	197,284	143,663
Intangible assets, net	88,352	58,587
Other assets
Deferred costs, non-current	17,424	15,191
Deferred income tax assets	227	182
Other assets, non-current	2,185	3,028
Total assets	672,914	615,846
Current liabilities
Accounts payable	11,256	8,330
Accrued compensation	30,235	31,661
Accrued expenses	7,451	8,345
Deferred revenue	57,423	50,428
Operating lease liabilities	4,277	4,108
Total current liabilities	110,642	102,872
Other liabilities
Deferred revenue, non-current	4,771	5,144
Operating lease liabilities, non-current	13,009	16,426
Deferred income tax liabilities	7,419	7,145
Total liabilities	135,841	131,587
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding	0	0
Common stock, $0.001 par value; 110,000,000 shares authorized; 38,309,144 and 37,798,610 shares issued; and 36,158,046 and 36,009,257 shares outstanding, respectively	38	38
Treasury Stock, at cost; 2,151,098 and 1,789,353 shares, respectively	(128,892)	(85,677)
Additional paid-in capital	476,117	433,258
Retained earnings	193,221	138,087
Accumulated other comprehensive loss	(3,411)	(1,447)
Total stockholders’ equity	537,073	484,259
Total liabilities and stockholders’ equity	$ 672,914	$ 615,846

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	110,000,000	110,000,000
Common stock, shares issued (in shares)	38,309,144	37,798,610
Common stock, shares outstanding (in shares)		36,009,257
Treasury stock, shares (in shares)		1,789,353

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenues	$ 450,875	$ 385,276	$ 312,630
Cost of revenues	153,065	131,678	99,836
Gross profit	297,810	253,598	212,794
Operating expenses
Sales and marketing	101,772	88,044	75,955
Research and development	45,748	39,038	31,024
General and administrative	67,340	61,305	50,119
Amortization of intangible assets	11,768	10,126	5,538
Total operating expenses	226,628	198,513	162,636
Income from operations	71,182	55,085	50,158
Other income (expense), net	142	(1,544)	2,522
Income before income taxes	71,324	53,541	52,680
Income tax expense	16,190	8,944	7,094
Net income	55,134	44,597	45,586
Other comprehensive income (expense)
Foreign currency translation adjustments	(2,240)	(514)	1,097
Unrealized gain (loss) on investments, net of tax of $147, ($34), and ($3) respectively	441	(102)	(10)
Reclassification of (gain) loss on investments into earnings, net of tax of ($55), $63, and ($52), respectively	(165)	190	(157)
Total other comprehensive income (expense)	(1,964)	(426)	930
Comprehensive income	$ 53,170	$ 44,171	$ 46,516
Net income per share
Basic (in dollars per share)	$ 1.53	$ 1.24	$ 1.29
Diluted (in dollars per share)	$ 1.49	$ 1.21	$ 1.26
Weighted average common shares used to compute net income per share
Basic (in shares)	36,117	35,928	35,226
Diluted (in shares)	36,953	36,962	36,285

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Unrealized gain (loss) on investments, tax	$ 147	$ (34)	$ (3)
Reclassification of unrealized (gain) loss on investments into earnings, tax	$ (55)	$ 63	$ (52)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2019			34,863,271
Beginning balance at Dec. 31, 2019	$ 354,876,000	$ (1,069,000)	$ 36,000	$ (46,297,000)	$ 354,115,000	$ 48,973,000	$ (1,069,000)	$ (1,951,000)
Beginning balance (in shares) at Dec. 31, 2019				1,241,348
Stock-based compensation	17,382,000				17,382,000
Shares issued pursuant to stock awards (in shares)			934,015
Shares issued pursuant to stock awards	18,592,000		$ 1,000		18,591,000
Employee stock purchase plan (in shares)			61,833
Employee stock purchase plan activity	$ 3,374,000				3,374,000
Repurchases of common stock (in shares)	(371,902)		(371,902)	(371,902)
Repurchases of common stock	$ (18,950,000)			$ (18,950,000)
Net income	45,586,000					45,586,000
Foreign currency translation adjustments	1,097,000							1,097,000
Unrealized loss on investments, net of tax	(10,000)							(10,000)
Reclassification of gain on investments into earnings, net of tax	(157,000)							(157,000)
Ending balance (in shares) at Dec. 31, 2020			35,487,217
Ending balance at Dec. 31, 2020	$ 420,721,000		$ 37,000	$ (65,247,000)	393,462,000	93,490,000		(1,021,000)
Ending balance (in shares) at Dec. 31, 2020				1,613,250
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Stock-based compensation	$ 25,686,000				25,686,000
Shares issued pursuant to stock awards (in shares)			642,417
Shares issued pursuant to stock awards	9,374,000		$ 1,000		9,373,000
Employee stock purchase plan (in shares)			55,726
Employee stock purchase plan activity	$ 4,737,000				4,737,000
Repurchases of common stock (in shares)	(176,103)		(176,103)	(176,103)
Repurchases of common stock	$ (20,430,000)			$ (20,430,000)
Net income	44,597,000					44,597,000
Foreign currency translation adjustments	(514,000)							(514,000)
Unrealized loss on investments, net of tax	(102,000)							(102,000)
Reclassification of gain on investments into earnings, net of tax	$ 190,000							190,000
Ending balance (in shares) at Dec. 31, 2021	36,009,257		36,009,257
Ending balance at Dec. 31, 2021	$ 484,259,000		$ 38,000	$ (85,677,000)	433,258,000	138,087,000		(1,447,000)
Ending balance (in shares) at Dec. 31, 2021	1,789,353			1,789,353
Stock-based compensation	$ 31,275,000				31,275,000
Shares issued pursuant to stock awards (in shares)			440,427
Shares issued pursuant to stock awards	4,908,000				4,908,000
Employee stock purchase plan (in shares)			70,107
Employee stock purchase plan activity	$ 6,676,000				6,676,000
Repurchases of common stock (in shares)	(361,745)		(361,745)	(361,745)
Repurchases of common stock	$ (43,215,000)			$ (43,215,000)
Net income	55,134,000					55,134,000
Foreign currency translation adjustments	(2,240,000)							(2,240,000)
Unrealized loss on investments, net of tax	441,000							441,000
Reclassification of gain on investments into earnings, net of tax	(165,000)							(165,000)
Ending balance (in shares) at Dec. 31, 2022			36,158,046
Ending balance at Dec. 31, 2022	$ 537,073,000		$ 38,000	$ (128,892,000)	$ 476,117,000	$ 193,221,000		$ (3,411,000)
Ending balance (in shares) at Dec. 31, 2022				2,151,098

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net income	$ 55,134	$ 44,597	$ 45,586
Reconciliation of net income to net cash provided by operating activities
Deferred income taxes	(3,732)	3,881	4,241
Change in earn-out liability	0	0	(85)
Depreciation and amortization of property and equipment	16,421	14,788	13,127
Amortization of intangible assets	11,768	10,126	5,538
Provision for credit losses	3,359	4,717	5,660
Stock-based compensation	33,399	27,574	18,936
Other, net	220	323	(24)
Changes in assets and liabilities, net of effects of acquisitions
Accounts receivable	(6,435)	(4,959)	(5,922)
Deferred costs	(10,646)	(9,299)	(3,414)
Other current and non-current assets	2,632	(6,181)	1,201
Accounts payable	144	2,259	1,214
Accrued compensation	(3,786)	6,775	(1,257)
Accrued expenses	(2,829)	1,017	563
Deferred revenue	5,965	14,483	4,432
Operating leases	(1,562)	2,792	(1,234)
Net cash provided by operating activities	100,052	112,893	88,562
Cash flows from investing activities
Purchases of property and equipment	(19,880)	(19,588)	(16,467)
Purchases of investments	(160,427)	(121,242)	(74,797)
Maturities of investments	158,937	111,193	69,461
Acquisitions of businesses, net	(91,420)	(17,066)	(98,666)
Net cash used in investing activities	(112,790)	(46,703)	(120,469)
Cash flows from financing activities
Repurchases of common stock	(43,215)	(20,430)	(18,950)
Net proceeds from exercise of options to purchase common stock	4,908	9,374	18,592
Net proceeds from employee stock purchase plan activity	6,676	4,737	3,374
Payment for contingent consideration	0	(2,042)	(688)
Net cash provided by (used in) financing activities	(31,631)	(8,361)	2,328
Effect of foreign currency exchange rate changes on cash and cash equivalents	(290)	31	19
Net increase (decrease) in cash and cash equivalents	(44,659)	57,860	(29,560)
Cash and cash equivalents at beginning of year	207,552	149,692	179,252
Cash and cash equivalents at end of year	162,893	207,552	149,692
Supplemental disclosure of cash flow information
Cash paid for income taxes	16,076	9,979	1,656
Non-cash financing activities:
Contingent consideration related to acquisition	2,000	0	0
Net purchases of property and equipment on account	$ (215)	$ (683)	$ (551)

General

General	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Business Description SPS Commerce is a leading provider of cloud-based supply chain management services across our global retail network. Our products make it easier for retailers, grocers, distributors, suppliers, and logistics firms to communicate and collaborate by simplifying how they manage and share item, inventory, order and sales data across omnichannel retail channels. We deliver our products using a full-service model, which includes industry-leading technology and a team of experts that optimize, update, and operate the technology on customers' behalf. Our products enable customers to increase supply chain performance, optimize inventory levels and sell-through, reduce operational costs, improve order visibility, and satisfy consumer demands for a seamless omnichannel experience. Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of SPS Commerce, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in the consolidated financial statements. Foreign Currency Translation The functional currency of our foreign operations is generally the applicable local currency. The functional currency is translated into U.S. dollars for balance sheet accounts using current exchange rates in effect as of the balance sheet date and for revenue and expense accounts using an average exchange rate during the year. The translation adjustments are deferred as a component of other comprehensive income within the consolidated statements of comprehensive income and the consolidated statements of stockholders' equity. Gains or losses resulting from transactions denominated in foreign currencies are included in other income (expense), net in our consolidated statements of comprehensive income. Use of Estimates Preparing financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Business Combinations We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated fair values as of the acquisition date. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Assets acquired include tangible and intangible assets. We use estimates and assumptions that we believe are reasonable as a part of the purchase price allocation, which includes the process to determine the value and useful lives of purchased intangible assets and the process to determine the value of any contingent consideration liabilities. We record the acquisition-date fair value of any contingent liabilities, such as earn-out provisions, as part of the consideration transferred, if present. The unsettled earn-out liability, if any, is subsequently remeasured at each reporting date at fair value. While we believe these estimates and assumptions are reasonable, they are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the fair value of the assets acquired and the liabilities assumed. Any such adjustments would be recorded as an offset to goodwill or a working capital purchase price adjustment as applicable. Upon the conclusion of the measurement period or final determination of the fair values, whichever comes first, any subsequent adjustments would be recorded in our consolidated statements of comprehensive income. Segment Information Our Chief Executive Officer acts as the Company’s chief operating decision maker and reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. There are no segment managers who are held accountable by the chief operating decision maker, or anyone else, for operations, operating results and planning for levels or components below the consolidated unit level. Accordingly, we determined we have one operating and reportable segment, which is supply chain management products. Concentration of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents in financial institutions in excess of federally insured limits and accounts receivable. Cash and cash equivalents are held with financial institutions that we believe are subject to minimal risk. Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with original maturities of less than 90 days. Investments From time to time, we invest in money market funds, certificates of deposit, and marketable securities such as commercial paper, highly liquid debt instruments of the U.S. government, and U.S. corporate debt securities. Investments with remaining maturities of less than one year from the balance sheet date are classified as short-term investments whereas those with remaining maturities of more than one year from the balance sheet date are classified as investments, non-current. Securities classified as available for sale are carried at fair value and the unrealized gains and losses on these investments, net of taxes, are included in accumulated other comprehensive loss in the consolidated balance sheets. Realized gains or losses are included in other income (expense), net in the consolidated statements of comprehensive income. Certain securities accrue interest that is included in other income (expense), net. When a determination has been made that the fair value of a marketable security is below its amortized cost basis, the portion of the unrealized loss that corresponds to a credit-related factor is realized through a credit allowance on the marketable security and the equivalent expense is realized in other income (expense), net in the consolidated statements of comprehensive income. Fair Value Measurements The carrying amounts of our short-term financial instruments, which include cash, cash equivalents, accounts receivable, and accounts payable, approximates fair value due to their short-term nature. Recurring Fair Value Measurements We measure certain financial assets at fair value on a recurring basis based on a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that are used to measure fair value are: • Level 1 – quoted prices in active markets for identical assets or liabilities. • Level 2 – observable inputs other than Level 1 prices, such as (a) quoted prices for similar assets or liabilities, (b) quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or (c) model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 – unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. Nonrecurring Fair Value Measurements We measure certain assets and liabilities at fair value on a nonrecurring basis, including long-lived assets, goodwill, and indefinite-lived intangible assets. Accounts Receivable Accounts receivable are initially recorded upon the sale and invoicing of products to customers. Credit is granted in the normal course of business without collateral. Accounts receivable are stated net of allowances for credit losses, which represent estimated losses resulting from customers not making required payments on accounts receivables. When determining the allowance, we pool our outstanding accounts receivable invoices based on the contractual due date of payment. We take several factors into consideration for estimated credit losses by pool, primarily our historical credit losses, with additional adjustments made for current and future macro-economic conditions and retail bankruptcy trends. We write-off accounts receivable when they are determined to be uncollectible. Changes in the allowance are recorded as bad debt expense and are included in general and administrative expense in our consolidated statements of comprehensive income. Property and Equipment Property and equipment, including assets acquired under lease obligations, are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization expense is calculated using the straight-line method over the estimated useful lives when placed in service. We capitalize and amortize eligible costs to acquire or generate internally developed software that are incurred during the application development stage. Costs incurred during the preliminary project stage and post-implementation stage are expensed as incurred. Amortization expense for internally developed software is calculated using the straight-line method over the estimated useful life, commencing on the date when the asset is ready for its intended use. The estimated useful lives of property and equipment were as follows: Estimated Useful Life Internally developed software 3 years Computer equipment 2-3 years Office equipment and furniture 5-7 years Leasehold improvements Shorter of the useful life of the asset or the remaining term of the lease Significant additions or improvements extending asset lives beyond one year are capitalized, while repairs and maintenance are charged to expense as incurred. The assets and related accumulated depreciation and amortization are adjusted for asset retirements and disposals with the resulting gain or loss included in our consolidated statements of comprehensive income. Maintenance of internally developed software are expensed as incurred. The assets and related accumulated amortization are adjusted for abandoned internally developed software with the resulting loss included in our consolidated statements of comprehensive income. Leases We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use assets, current operating lease liabilities, and non-current operating lease liabilities in our consolidated balance sheets. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. We use the implicit interest rate when readily determinable. We estimate the discount rate for a similar collateralized asset by estimating costs of borrowing. The operating lease ROU asset also includes any lease payments made and lease incentives that have been incurred. The options to extend our leases are not recognized as part of our ROU assets and lease liabilities unless it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For all leases, we combine non-lease components with the related lease components and account for it as a single lease component. The ROU assets are subject to the same impairment process as our long-lived assets. Additionally, we review our lease liabilities for remeasurement whenever there is a triggering event or when relevant facts and circumstances change. Research and Development Research and development costs primarily include development, maintenance, and data conversion activities related to our cloud-based supply chain management products and are expensed as incurred. Research and development costs are net of amounts capitalized as developed software. Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. Goodwill is attributed to a trained workforce and other buyer-specific value resulting from expected synergies, including long-term cost savings, which are not included in the fair values of identifiable assets. We test goodwill for impairment annually at November 30, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test is conducted by comparing the fair value of the net assets with the carrying amount of the reporting unit. We determine the fair value of the reporting unit based on our market capitalization at the testing date. If the carrying amount exceeds the fair value of the reporting unit, we would recognize an impairment loss in the consolidated statements of comprehensive income, to the extent that the carrying amount exceeds fair value. Intangible Assets Assets acquired in business combinations may include identifiable intangible assets such as subscriber relationships and developed technology. We recognize the fair value of the identifiable intangible assets acquired separately from goodwill. We have determined the fair value and useful lives of our purchased intangible assets using certain estimates and assumptions that we believe are reasonable. The purchased intangible assets are being amortized on a straight-line basis over their estimated useful lives. The estimated useful lives for intangible were as follows: Estimated Useful Life Subscriber relationships 7-10 years Developed technology 3-10 years Impairment of Long-Lived Assets We review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The carrying amount of a long-lived asset is not recoverable if the carrying amount of an asset group exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the assets at the date it is tested for recoverability, whether in use or under development. An impairment loss is measured and recorded as an expense in the consolidated statements of comprehensive income as the amount by which the carrying amount of a long-lived asset exceeds its fair value. Revenue Recognition Revenues are the amount that reflects the consideration we are contractually and legally entitled to, as well as the amount we expect to collect, in exchange for those services. We determine revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, we satisfy a performance obligation See Note C for further descriptions of our revenue recognition policy. Deferred Costs Deferred costs are those that are incurred to fulfill or obtain customer contracts and that are considered incremental and recoverable costs. These consist primarily of customer implementation costs, commissions paid to sales personnel and referral partners, respectively. These costs are deferred and amortized over the expected period of benefit which we have determined to be two years. Customer implementation costs are based on actual costs incurred. Related amortization expense is included in cost of revenues in the consolidated statements of comprehensive income. Sales commissions are calculated based on estimated annual recurring revenue to be generated over the customer’s initial contract period. Related amortization expense is included in sales and marketing expenses in the consolidated statements of comprehensive income. Stock-Based Compensation Stock-based compensation includes grants of incentive and nonqualified stock options, performance share units (“PSUs”), restricted stock awards (“RSAs”), restricted stock units (“RSUs”), deferred stock units (“DSUs”), employee stock purchase plan (“ESPP”) activity, and 401(k) stock match and is used to compensate employees, executive officers, and non-employee directors. We recognize the cost of all stock-based payments based on the grant date fair value of those awards. This cost is recognized over the period for which an employee is required to provide service in exchange for the award or the award performance period, except for expenses relating to retirement-eligible employees that have not given their required notice, which is recognized on a pro-rata basis over the notice period prior to retirement. For all awards, we recognize forfeitures as they occur. RSAs result in the issuance of new shares when granted. For other stock-based awards, new shares are issued when the award is exercised, vested, or released according to the terms of the agreement. Our ESPP allows participating employees to purchase shares of our common stock at a discount through payroll deductions. The plan is available to all employees subject to certain eligibility requirements. Participating employees may purchase common stock, on a voluntary after-tax basis, at a price that is the lower of 85% of the fair market value of our common stock at the beginning or end of each stock purchase period. The plan is a Type B plan, so the number of shares a participants can acquire is variable. Participants purchase more shares as the stock price decreases, up to the total amount originally elected to withhold at the beginning of the offering period. The plan consists of two six-month offering periods, beginning on January 1 and July 1 of each calendar year. The fair value of stock options and ESPP activity is estimated using the Black-Scholes option valuation model. The fair value for RSAs, RSUs, and DSUs is the closing market value of the underlying stock on the date of grant less the purchase price (if any). The fair value of PSUs is estimated using a Monte Carlo simulation. Judgment is required in determining the expected volatility of common stock and the expected term individuals will hold their share-based awards prior to exercising. The expected volatility of the options is based on the historical volatility of our common stock. The expected term of the options is derived from historical data on option holder exercises and post-vesting employment termination behavior. Additional valuation inputs include our expected non-issuance of future common stock dividends and the risk-free interest rate that is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equaling the expected life at the grant date. For PSUs, the Monte Carlo simulation utilizes multiple input variables that determine the probability of satisfying the performance conditions stipulated in the award. Income Taxes We account for income taxes using the asset and liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in our judgment, it is more likely than not that some or all of the deferred tax asset will not be realized. Deferred tax positions are net by jurisdiction on the consolidated balance sheet. We assess our ability to realize our deferred tax assets at the end of each reporting period. Realization of our deferred tax assets is contingent upon future taxable earnings. Accordingly, this assessment requires estimates and judgment. If the estimates of future taxable income vary from actual results, our assessment regarding the realization of these deferred tax assets could change. Future changes in the estimated amount of deferred taxes expected to be realized will be reflected in our consolidated financial statements in the period the estimate is changed, with a corresponding adjustment to our operating results. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would “more likely than not” sustain the position following an audit. For tax positions meeting the “more likely than not” threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. It is our practice to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. Net Income Per Share Basic net income per share has been computed using the weighted average number of shares of common stock outstanding during each period. Diluted net income per share also includes the impact of our outstanding potential common shares, including options, RSAs, RSUs, PSUs, and DSUs. Potential common shares that are anti-dilutive are excluded from the calculation of diluted net income per share. Accounting Pronouncements Not Yet Adopted Standard Date of Issuance Description Date of Required Adoption Effect on the Financial Statements ASU 2021-08 , Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers October 2021 This amendment requires that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, effective for all business combinations in the year of adoption and thereafter. January 2023 The adoption of this standard may have a material impact on the purchase accounting for business combinations depending on the specific amount of contract assets and liabilities being acquired.

Business Acquisitions

Business Acquisitions	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Business Acquisitions	Business Acquisitions GCommerce Effective July 19, 2022, we acquired all of the outstanding equity ownership interests of GCommerce, Inc. ("GCommerce"), a leading EDI provider within the automotive aftermarket industry. Pursuant to the definitive agreement, the purchase price was $45.1 million, including post-closing adjustments. The purchase accounting for the acquisition has not been finalized as of December 31, 2022 due to various items including valuation modeling completion; provisional amounts are primarily related to intangible assets and tax components. We expect to finalize the allocation of the purchase price within the one-year measurement period following the acquisition. InterTrade Effective October 4, 2022, we acquired all of the outstanding equity ownership interests of Canadian based InterTrade Systems Inc. ("InterTrade"), a leading EDI provider within the apparel and general merchandising markets. Pursuant to the definitive agreement, the purchase price was $49.1 million, including estimated post-closing adjustments. The purchase accounting for the acquisition has not been finalized as of December 31, 2022 due to various items including valuation modeling completion; provisional amounts are primarily related to intangible assets, net working capital, and tax components. We expect to finalize the allocation of the purchase price within the one-year measurement period following the acquisition. The definitive agreement included the potential for the seller to receive up to $2.0 million in cash, contingent upon the completion of a technological infrastructure migration project within a specified time period. Given the status of the project, at the date of acquisition as well as at December 31, 2022, we expected to pay the full contingent consideration balance in 2023. As such, $2.0 million was included in accrued expenses in the consolidated balance sheet at December 31, 2022. Purchase Price Allocations We accounted for the acquisitions as business combinations. We allocated each purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition dates: 2022 Acquisition Activity GCommerce InterTrade (in thousands) Acquisition Date Estimated Fair Value as of Adjustments Acquisition Date Estimated Fair Value as of Acquisition Date Estimated Fair Value as of Cash paid at transaction date $ 45,153 $ — $ 45,153 $ 47,165 Contingent consideration — — — 2,000 Post-closing adjustments (64) — (64) (93) Total consideration $ 45,089 $ — $ 45,089 $ 49,072 Estimated fair value of assets and liabilities acquired: Cash $ 230 $ — $ 230 $ 668 Accounts receivable 467 — 467 1,302 Other current assets 288 — 288 1,903 Operating lease right-of-use asset 934 — 934 — Intangible assets Subscriber relationships 18,225 (925) 17,300 17,640 Developed technology 2,025 275 2,300 4,410 Deferred income tax assets 5,291 1,440 6,731 101 Accounts payable (266) — (266) (2,337) Accrued compensation (321) — (321) — Deferred revenue (262) — (262) (397) Operating lease liability (934) — (934) — Deferred income tax liabilities (5,144) 537 (4,607) (6,228) Total fair value of assets and liabilities acquired $ 20,533 $ 1,327 $ 21,860 $ 17,062 Goodwill $ 24,556 $ (1,327) $ 23,229 $ 32,010 The following table summarizes the estimated useful lives for each acquired intangible asset, each of which are subject to finalization: Estimated Useful Life GCommerce InterTrade Subscriber relationships 8.0 years 8.0 years Developed technology 5.0 years 6.0 years

Revenue

Revenue	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue We derive our revenues from the following revenue streams: Year Ended December 31, (in thousands) 2022 2021 2020 Recurring revenues: Fulfillment $ 364,148 $ 306,851 $ 251,272 Analytics 46,894 42,674 38,824 Other 8,005 5,481 4,920 Recurring Revenues 419,047 355,006 295,016 One-time revenues 31,828 30,270 17,614 Total revenue $ 450,875 $ 385,276 $ 312,630 Revenues are the amount that reflects the consideration we are contractually and legally entitled to, as well as the amount we expect to collect, in exchange for those services. Recurring Revenues Recurring revenues consist of recurring subscriptions from customers that utilize our Fulfillment, Analytics, and Other supply chain management products. Revenue for these products is generally recognized on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our contracts with our recurring revenue customers are recurring in nature, generally ranging from monthly to annual, and generally allow the customer to cancel the contract for any reason with 30 to 90 days’ notice. Timing of billings varies by customer and by contract type and are either in advance or within 30 days of the service being performed. Given that the recurring revenue contracts are for one year or less, we have applied the optional exemption to not disclose information about the remaining performance obligations for recurring revenue contracts. One-time Revenues One-time revenues consist of set-up fees and miscellaneous fees from customers. Set- up revenues Set-up fees are specific for each connection a customer has with a trading partner. These nonrefundable fees are necessary for our customers to utilize our services and do not provide any standalone value. Many of our customers have connections with numerous trading partners. Set-up fees constitute a material renewal option right that provide customers a significant future incentive that would not be otherwise available to that customer unless they entered into the contract, as the set-up fees will not be incurred again upon contract renewal. As such, set-up fees and related costs are deferred and recognized ratably over two years which is the estimated period for which a material right is present for our customers. The table below presents the activity of the portion of the deferred revenue liability relating to set-up fees: Year Ended December 31, (in thousands) 2022 2021 Balance, beginning of year $ 14,459 $ 11,118 Invoiced set-up fees 15,457 15,931 Recognized set-up fees (14,917) (12,590) Balance, end of year $ 14,999 $ 14,459 The entire balance of deferred set-up fees will be recognized within two years. Those that will be recognized within the next year are classified as current, whereas the remainder are classified as non-current. Miscellaneous fees Miscellaneous fees primarily consist of professional services and testing and certification. The contract period for these one-time fees is for one year or less and recognized at the time service is provided. We have applied the optional exemption to not disclose information about the remaining performance obligations for miscellaneous one-time fee contracts since they have original durations of one year or less. Deferred Revenue In the year ended December 31, 2022, we recognized revenue of $50.4 million from amounts included in deferred revenue at December 31, 2021.

Deferred Costs

Deferred Costs	12 Months Ended
	Dec. 31, 2022
Deferred Costs [Abstract]
Deferred Costs	Deferred Costs The deferred costs activity was as follows: Year Ended December 31, (in thousands) 2022 2021 Balance, beginning of year $ 59,720 $ 50,595 Incurred deferred costs 72,509 64,076 Amortized deferred costs (62,050) (54,951) Balance, end of year $ 70,179 $ 59,720

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Cash Equivalents and Investments Cash equivalents and investments, as measured at fair value on a recurring basis, consisted of the following: December 31, 2022 December 31, 2021 Fair Value Level Amortized Cost Unrealized Gains (Losses), net Fair Value Amortized Cost Unrealized Gains (Losses), net Fair Value (in thousands) Cash equivalents: Money market funds Level 1 $ 73,368 $ — $ 73,368 $ 138,205 $ — $ 138,205 Investments: Certificates of deposit Level 1 6,813 — 6,813 7,268 — 7,268 Marketable securities: Commercial paper Level 2 44,224 375 44,599 34,984 7 34,991 U.S. treasury securities Level 2 — — — 7,500 (1) 7,499 $ 124,405 $ 375 $ 124,780 $ 187,957 $ 6 $ 187,963

Allowance for Credit Losses

Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses The allowance for credit losses activity, included in accounts receivable, net, was as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Balance, beginning of year $ 4,249 $ 4,233 $ 1,469 Provision for credit losses 3,359 4,717 5,660 Write-offs, net of recoveries (4,542) (4,790) (4,319) Initial allowance for business combination acquired receivables — 89 354 Adoption of ASU 2016-13 — — 1,069 Balance, end of year $ 3,066 $ 4,249 $ 4,233

Property and Equipment, net

Property and Equipment, net	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment, net consisted of the following: December 31, (in thousands) 2022 2021 Internally developed software $ 49,994 $ 44,981 Computer equipment 30,310 29,329 Leasehold improvements 16,531 16,685 Office equipment and furniture 10,981 10,972 Property and equipment, cost 107,816 101,967 Less: accumulated depreciation and amortization (72,358) (70,066) Total property and equipment, net $ 35,458 $ 31,901 Depreciation and amortization expense of property and equipment was as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Depreciation and amortization expense $ 16,421 $ 14,788 $ 13,127

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, net	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, net	Goodwill and Intangible Assets, net Goodwill The activity in goodwill was as follows: Year Ended December 31, (in thousands) 2022 2021 Balance, beginning of year $ 143,663 $ 134,853 Additions from business acquisitions 56,566 8,914 Foreign currency translation (1,618) (372) Remeasurement from provisional purchase accounting amount (1,327) 268 Balance, end of year $ 197,284 $ 143,663 Intangible Assets Intangible assets, net consisted of the following: December 31, 2022 ($ in thousands) Gross Carrying Amount Accumulated Amortization Foreign Currency Translation Net Weighted Average Remaining Subscriber relationships $ 80,101 $ (22,255) $ (171) $ 57,675 6.8 years Developed technology 40,610 (9,934) 1 30,677 5.4 years $ 120,711 $ (32,189) $ (170) $ 88,352 6.4 years December 31, 2021 ($ in thousands) Gross Carrying Amount Accumulated Amortization Foreign Currency Translation Net Weighted Average Remaining Subscriber relationships $ 61,270 $ (29,866) $ (1,395) $ 30,009 6.4 years Developed technology 35,316 (6,738) — 28,578 6.8 years $ 96,586 $ (36,604) $ (1,395) $ 58,587 6.6 years The estimated future annual amortization expense related to intangible assets is as follows: (in thousands) 2023 $ 15,289 2024 14,098 2025 13,960 2026 12,956 2027 12,493 Thereafter 19,556 Total future amortization $ 88,352

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases We are engaged in a lease agreement for our current headquarters located in Minneapolis, Minnesota where we lease approximately 198,000 square feet under an agreement that expires in 2027. The lease also has two options to extend the term for five years each at a market rate determined in accordance with the lease. We lease other smaller facilities across the U.S. and international locations. The components of lease expense were as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Operating lease cost $ 3,087 $ 3,089 $ 2,719 Variable lease cost 3,576 3,660 3,578 $ 6,663 $ 6,749 $ 6,297 Supplemental cash flow information related to leases was as follows: December 31, (in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 4,639 $ 3,757 Right-of-use assets obtained in exchange for operating lease liabilities 934 992 Supplemental balance sheet information related to operating leases was as follows: December 31, 2022 December 31, 2021 Weighted-average remaining lease term 3.9 years 4.8 years Weighted-average discount rate 4.0 % 4.0 % At December 31, 2022, our future minimum payments under operating leases were as follows: (in thousands) 2023 $ 4,889 2024 4,485 2025 4,369 2026 3,764 2027 1,265 Total future payments 18,772 Less: imputed interest (1,486) Total operating lease liabilities $ 17,286 Purchase Commitments We have entered into separate noncancelable agreements with computing infrastructure, customer relationship management, and performance and security data analytics vendors for services through 2025. At December 31, 2022, the total remaining purchase commitments were $4.9 million. Contingencies We may be involved in various claims and legal actions in the normal course of business. We believe that the outcome of any such claim or legal action is not expected to have a material effect on our financial position, results of operations, or cash flows.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Share Repurchase Program Our board of directors has authorized multiple non-concurrent programs to repurchase our common stock. Details of the programs and activity thereunder through December 31, 2022 were as follows: (in thousands) Effective Date Expiration Date Share Value Authorized for Repurchase Share Value Repurchased Unused & Expired Share Repurchase Value Share Value Available for Future Repurchase 2019 Program November 2019 November 2021 $ 50,000 $ 29,611 $ 20,389 N/A 2021 Program November 2021 August 2022 50,000 49,992 8 N/A 2022 Program August 2022 July 2024 50,000 2,992 N/A $ 47,008 The share repurchase activity by period was as follows: Year Ended December 31, (in thousands, except shares and per share amounts) 2022 2021 2020 Number of shares repurchased 361,745 176,103 371,902 Shares repurchased cost $ 43,215 $ 20,430 $ 18,950 Average price per repurchased share $ 119.46 $ 116.01 $ 50.95

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Our equity compensation plans provide for the grant of incentive and nonqualified stock options, as well as other stock-based awards including PSUs, RSAs, RSUs, and DSUs, to employees, non-employee directors and other consultants who provide services to us. We also provide an ESPP and 401(k) stock match to eligible participants. We recognize stock-based compensation expense based on grant date award fair value. This cost is recognized over the period for which the employee is required to provide service in exchange for the award or the award performance period, except for expenses relating to retirement-eligible employees that have not given their required notice, which is recognized on a pro-rata basis over the notice period prior to retirement. At December 31, 2022 there were 13.2 million shares available for grant under approved equity compensation plans. Stock-based compensation expense was allocated in the consolidated statements of comprehensive income as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Cost of revenues $ 8,684 $ 6,760 $ 3,948 Operating expenses Sales and marketing 7,590 6,248 4,119 Research and development 5,634 4,384 3,626 General and administrative 11,491 10,182 7,243 $ 33,399 $ 27,574 $ 18,936 Stock-based compensation expense by grant type or plan was as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Stock options $ 1,903 $ 2,057 $ 2,232 PSUs 7,509 6,417 3,219 RSUs 19,282 15,388 10,367 RSAs & DSUs 437 434 446 ESPP 2,144 1,391 1,117 401(k) stock match 2,124 1,887 1,555 $ 33,399 $ 27,574 $ 18,936 As of December 31, 2022, there was $38.6 million of unrecognized stock-based compensation expense under our equity compensation plans, which is expected to be recognized on a primarily straight-line basis over a weighted-average period of 2.4 years. Stock Options Options generally vest over four years and, upon vesting, the holder is given the option to purchase shares of common stock at a specific strike price until expiration, which is generally seven years from the grant date. Our stock option activity was as follows: Options Weighted Average Outstanding at December 31, 2019 1,543,912 30.03 Granted 127,974 59.02 Exercised (712,074) 26.11 Forfeited (14,926) 43.14 Outstanding at December 31, 2020 944,886 36.71 Granted 53,223 105.53 Exercised (311,378) 30.10 Forfeited (8,081) 68.62 Outstanding at December 31, 2021 678,650 44.76 Granted 56,430 122.59 Exercised (164,393) 29.86 Forfeited (7,990) 92.48 Outstanding at December 31, 2022 562,697 56.24 Of the total outstanding options at December 31, 2022, 0.5 million were exercisable. The outstanding and exercisable options had a weighted average exercise price of $47.80 per share and a weighted average remaining contractual life of 2.9 years. The table below presents additional information related to our stock options: Year Ended December 31, (in thousands, except per share data) 2022 2021 2020 Fair value of options vested $ 1,996 $ 2,509 $ 3,000 Intrinsic value of options exercised 16,705 27,713 31,737 Intrinsic value of options outstanding 40,692 66,235 67,918 Weighted-average fair value per share of options granted 41.34 31.31 16.18 The fair values of the options granted were estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions: Year Ended December 31, 2022 2021 2020 Life (in years) 4.3 4.4 4.0 Volatility 38 % 35 % 33 % Dividend yield — — — Risk-free interest rate 2.50 % 0.59 % 0.99 % Performance Share Units, Restricted Stock Units and Awards, and Deferred Stock Units In 2022, 2021, and 2020 we granted PSU awards with certain target performance levels. These awards are earned based upon our Company’s total shareholder return as compared to an indexed total shareholder return over the course of a fiscal based three-year performance period, starting in the year of grant. Earned awards vest in the quarter following the conclusion of the performance period. Expense is recognized on a straight-line basis over the performance period, regardless of whether the market condition is satisfied as the likelihood of the market condition being met is included in the fair-value measurement of the award. In 2022, PSU awards granted in 2019 were earned and vested at the maximum performance level and less than 0.1 million shares of common stock were issued. RSUs generally vest over four years and, upon vesting, the holder is entitled to receive shares of our common stock. RSAs vest over one year and, upon vesting, the holder is entitled to receive shares of our common stock. In lieu of RSAs, a participant may elect to receive DSUs with one year vesting, but the participant directs delayed receipt of common shares of up to ten years after the end of service to us. Activity for our PSUs, RSUs, RSAs, and DSUs in aggregate was as follows: (#) Weighted Average Outstanding at December 31, 2019 797,546 38.80 Granted 331,264 62.78 Vested and common stock issued (222,606) 36.06 Forfeited (167,782) 30.09 Outstanding at December 31, 2020 738,422 52.37 Granted 314,290 101.85 Vested and common stock issued (331,669) 44.14 Forfeited (18,883) 66.35 Outstanding at December 31, 2021 702,160 78.03 Granted 312,880 126.44 Vested and common stock issued (276,872) 64.12 Forfeited (26,010) 99.37 Outstanding at December 31, 2022 712,158 103.93 The number of PSUs, RSUs, RSAs, and DSUs outstanding at December 31, 2022 included less than 0.1 million units that have vested, but the shares of common stock have not yet been issued, pursuant to the terms of the agreements. Employee Stock Purchase Plan Our ESPP activity was as follows: Year Ended December 31, (in thousands, except share data) 2022 2021 2020 Amounts for shares purchased $ 6,676 $ 4,737 $ 3,374 Shares purchased 70,107 55,726 61,833 A total of 1.7 million shares of common stock are remaining for issuance under the plan at December 31, 2022. The fair value was estimated based on the market price of our common stock at the beginning of the offering period using the following assumptions: Year Ended December 31, 2022 2021 2020 Life (in years) 0.5 0.5 0.5 Volatility 42 % 32 % 43 % Dividend yield — — — Risk-free interest rate 1.27 % 0.07 % 0.96 %

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our provision for income taxes was comprised of the following components: Year Ended December 31, (in thousands) 2022 2021 2020 Current Federal $ 13,881 $ 1,559 $ — State 4,149 1,890 1,249 Foreign 1,990 1,610 1,608 Deferred Federal (2,530) 4,294 4,462 State (751) (88) 244 Foreign (549) (321) (469) $ 16,190 $ 8,944 $ 7,094 Our income tax expense differed from the amounts computed by applying the U.S. federal income tax rate to pretax income as a result of the following: Year Ended December 31, 2022 2021 2020 U.S. statutory federal income tax rate 21.0 % 21.0 % 21.0 % Increase (decrease) resulting from: U.S. state income taxes, net of federal tax effect 4.6 4.5 4.5 Tax impact of stock activity (4.7) (12.8) (12.9) Nondeductible compensation 3.5 5.0 1.8 Research and development credit (1.5) (1.1) (0.6) Foreign derived intangible income (1.4) (1.3) (1.3) Other 1.2 1.4 1.0 Effective tax rate 22.7 % 16.7 % 13.5 % The significant components of our deferred tax assets and liabilities were as follows: December 31, (in thousands) 2022 2021 Deferred tax assets Net operating loss and credit carryforwards $ 9,970 $ 4,828 Stock-based compensation expense 5,084 3,934 Accrued expenses 4,469 5,174 Operating lease liabilities 4,384 5,235 Research and development capitalized 9,591 — Other deferred tax assets 2,408 2,778 Gross deferred tax assets 35,906 21,949 Less: valuation allowance (1,873) (1,815) Total net deferred tax assets $ 34,033 $ 20,134 Deferred tax liabilities Deferred costs $ (17,696) $ (15,126) Right-of-use assets (2,338) (2,787) Depreciation and amortization (20,282) (8,820) Other deferred tax liabilities (909) (364) Total deferred tax liabilities (41,225) (27,097) Net deferred tax liabilities $ (7,192) $ (6,963) Amounts for the year ended December 31, 2021 have been reclassified to be consistent with the current classification. As of December 31, 2022, we had net operating loss carryforwards of $40.9 million for U.S. federal tax purposes and $4.5 million for state tax purposes. If not utilized, the loss carryforwards will expire between 2023 and 2036 for federal tax purposes and between 2026 and 2042 for state tax purposes. Section 382 of the U.S. Internal Revenue Code generally imposes an annual limitation on the amount of net operating loss carryforwards that might be used to offset taxable income when a corporation has undergone significant changes in stock ownership. As of December 31, 2022, all $40.9 million of our net operating loss carryforwards are subject to Section 382 limitations, of which we believe $6.8 million of federal losses will expire unused due to Section 382 limitations. Accordingly, our deferred tax assets are reported net of the Section 382 limitations. We are subject to income taxes for U.S. federal and various state and international jurisdictions. We are generally subject to U.S. federal and state tax examinations for most prior tax years due to our net operating loss and R&D credit carryforwards and the utilization of the carryforwards in years still open under statute.

Other Income and Expense

Other Income and Expense	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Other Income and Expense	Other Income and Expense Other income (expense), net included the following: Year Ended December 31, (in thousands) 2022 2021 2020 Investment income $ 1,670 $ 278 $ 1,208 Realized gain (loss) from foreign currency on cash and investments held (1,026) (1,456) 1,753 Change in earn-out liability — — (85) Other expense, net (502) (366) (354) Total other income (expense), net $ 142 $ (1,544) $ 2,522 Effective January 1, 2021, all realized gains or losses and interest income on our investments are included in investment income. Previously, realized gains and losses were included in other income (expense), net and interest income was included in interest income, net. Additionally, realized gains or losses from foreign currency on cash and investments

Net Income Per Share

Net Income Per Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The components and computation of basic and diluted net income per share were as follows: Year Ended December 31, (in thousands, except per share amounts) 2022 2021 2020 Numerator Net income $ 55,134 $ 44,597 $ 45,586 Denominator Weighted average common shares outstanding, basic 36,117 35,928 35,226 Options to purchase common stock 382 529 611 PSUs, RSUs, RSAs, and DSUs 454 505 448 Weighted average common shares outstanding, diluted 36,953 36,962 36,285 Net income per share Basic $ 1.53 $ 1.24 $ 1.29 Diluted $ 1.49 $ 1.21 $ 1.26 The number of outstanding potential common shares that were excluded from the calculation of diluted net income per share as they were anti-dilutive was as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Anti-dilutive shares 75 31 26

Retirement Savings Plan

Retirement Savings Plan	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Retirement Savings Plan	Retirement Savings Plan We sponsor a 401(k) retirement savings plan for our employees. Employees can contribute up to 80% of their compensation, subject to the limits established by law, and we match 50% of the employee’s contribution up to the first 6% of pre-tax annual compensation. A portion of our match is in Company stock, which is purchased from the open market by our plan provider and immediately deposited into the employee’s 401(k) account. Additionally, we make statutory contributions to retirement plans as required by local foreign government regulations. Our total contributions to the plan were as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Retirement contributions $ 5,386 $ 4,790 $ 3,889

Geographic Information

Geographic Information	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Geographic Information	Geographic Information Revenue The percentage of domestic revenue, which we define as the percentage of consolidated revenue that was attributable to customers based within the U.S., was as follows: Year Ended December 31, 2022 2021 2020 Domestic revenue 84 % 84 % 85 % No single jurisdiction outside of the U.S. had revenues in excess of 10%. Property and Equipment The percentage of property and equipment, net located at subsidiary and office locations outside of the U.S. was as follows: December 31, 2022 2021 International property and equipment 13 % 12 %

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The SPS Commerce Foundation (the “Foundation”) is a Minnesota non-profit organization exempt from federal taxation under Section 501(c)(3) of the Internal Revenue Code. The Foundation was formed in 2015 to engage in, advance, support, promote and administer charitable activities. The directors of the Foundation are also our corporate officers. These directors receive no compensation from the Foundation or us for the management services performed for the Foundation. The Foundation is not a subsidiary of ours and the financial results of the Foundation are not consolidated with our financial statements. We have no current legal obligations for future commitments to the Foundation. Our contributions to the Foundation were as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Foundation contributions $ 2,750 $ 2,400 $ 1,800

General (Policies)

General (Policies)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description	Business Description SPS Commerce is a leading provider of cloud-based supply chain management services across our global retail network. Our products make it easier for retailers, grocers, distributors, suppliers, and logistics firms to communicate and collaborate by simplifying how they manage and share item, inventory, order and sales data across omnichannel retail channels. We deliver our products using a full-service model, which includes industry-leading technology and a team of experts that optimize, update, and operate the technology on customers' behalf. Our products enable customers to increase supply chain performance, optimize inventory levels and sell-through, reduce operational costs, improve order visibility, and satisfy consumer demands for a seamless omnichannel experience.
Basis of Presentation	Basis of PresentationThe accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of SPS Commerce, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.
Foreign Currency Translation	Foreign Currency Translation The functional currency of our foreign operations is generally the applicable local currency. The functional currency is translated into U.S. dollars for balance sheet accounts using current exchange rates in effect as of the balance sheet date and for revenue and expense accounts using an average exchange rate during the year. The translation adjustments are deferred as a component of other comprehensive income within the consolidated statements of comprehensive income and the consolidated statements of stockholders' equity. Gains or losses resulting from transactions denominated in foreign currencies are included in other income (expense), net in our consolidated statements of comprehensive income.
Use of Estimates	Use of Estimates Preparing financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Business Combinations	Business Combinations We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated fair values as of the acquisition date. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Assets acquired include tangible and intangible assets. We use estimates and assumptions that we believe are reasonable as a part of the purchase price allocation, which includes the process to determine the value and useful lives of purchased intangible assets and the process to determine the value of any contingent consideration liabilities. We record the acquisition-date fair value of any contingent liabilities, such as earn-out provisions, as part of the consideration transferred, if present. The unsettled earn-out liability, if any, is subsequently remeasured at each reporting date at fair value. While we believe these estimates and assumptions are reasonable, they are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the fair value of the assets acquired and the liabilities assumed. Any such adjustments would be recorded as an offset to goodwill or a working capital purchase price adjustment as applicable. Upon the conclusion of the measurement period or final determination of the fair values, whichever comes first, any subsequent adjustments would be recorded in our consolidated statements of comprehensive income.
Segment Information	Segment Information Our Chief Executive Officer acts as the Company’s chief operating decision maker and reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. There are no segment managers who are held accountable by the chief operating decision maker, or anyone else, for operations, operating results and planning for levels or components below the consolidated unit level. Accordingly, we determined we have one operating and reportable segment, which is supply chain management products.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents in financial institutions in excess of federally insured limits and accounts receivable. Cash and cash equivalents are held with financial institutions that we believe are subject to minimal risk.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with original maturities of less than 90 days.
Investments	Investments From time to time, we invest in money market funds, certificates of deposit, and marketable securities such as commercial paper, highly liquid debt instruments of the U.S. government, and U.S. corporate debt securities. Investments with remaining maturities of less than one year from the balance sheet date are classified as short-term investments whereas those with remaining maturities of more than one year from the balance sheet date are classified as investments, non-current. Securities classified as available for sale are carried at fair value and the unrealized gains and losses on these investments, net of taxes, are included in accumulated other comprehensive loss in the consolidated balance sheets. Realized gains or losses are included in other income (expense), net in the consolidated statements of comprehensive income. Certain securities accrue interest that is included in other income (expense), net. When a determination has been made that the fair value of a marketable security is below its amortized cost basis, the portion of the unrealized loss that corresponds to a credit-related factor is realized through a credit allowance on the marketable security and the equivalent expense is realized in other income (expense), net in the consolidated statements of comprehensive income.
Fair Value of Other Financial Instruments	Fair Value Measurements The carrying amounts of our short-term financial instruments, which include cash, cash equivalents, accounts receivable, and accounts payable, approximates fair value due to their short-term nature. Recurring Fair Value Measurements We measure certain financial assets at fair value on a recurring basis based on a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that are used to measure fair value are: • Level 1 – quoted prices in active markets for identical assets or liabilities. • Level 2 – observable inputs other than Level 1 prices, such as (a) quoted prices for similar assets or liabilities, (b) quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or (c) model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 – unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. Nonrecurring Fair Value Measurements We measure certain assets and liabilities at fair value on a nonrecurring basis, including long-lived assets, goodwill, and indefinite-lived intangible assets.
Accounts Receivable	Accounts Receivable Accounts receivable are initially recorded upon the sale and invoicing of products to customers. Credit is granted in the normal course of business without collateral. Accounts receivable are stated net of allowances for credit losses, which represent estimated losses resulting from customers not making required payments on accounts receivables. When determining the allowance, we pool our outstanding accounts receivable invoices based on the contractual due date of payment. We take several factors into consideration for estimated credit losses by pool, primarily our historical credit losses, with additional adjustments made for current and future macro-economic conditions and retail bankruptcy trends. We write-off accounts receivable when they are determined to be uncollectible. Changes in the allowance are recorded as bad debt expense and are included in general and administrative expense in our consolidated statements of comprehensive income.
Property and Equipment	Property and Equipment Property and equipment, including assets acquired under lease obligations, are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization expense is calculated using the straight-line method over the estimated useful lives when placed in service. We capitalize and amortize eligible costs to acquire or generate internally developed software that are incurred during the application development stage. Costs incurred during the preliminary project stage and post-implementation stage are expensed as incurred. Amortization expense for internally developed software is calculated using the straight-line method over the estimated useful life, commencing on the date when the asset is ready for its intended use. The estimated useful lives of property and equipment were as follows: Estimated Useful Life Internally developed software 3 years Computer equipment 2-3 years Office equipment and furniture 5-7 years Leasehold improvements Shorter of the useful life of the asset or the remaining term of the lease Significant additions or improvements extending asset lives beyond one year are capitalized, while repairs and maintenance are charged to expense as incurred. The assets and related accumulated depreciation and amortization are adjusted for asset retirements and disposals with the resulting gain or loss included in our consolidated statements of comprehensive income. Maintenance of internally developed software are expensed as incurred. The assets and related accumulated amortization are adjusted for abandoned internally developed software with the resulting loss included in our consolidated statements of comprehensive income.
Leases	Leases We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use assets, current operating lease liabilities, and non-current operating lease liabilities in our consolidated balance sheets. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. We use the implicit interest rate when readily determinable. We estimate the discount rate for a similar collateralized asset by estimating costs of borrowing. The operating lease ROU asset also includes any lease payments made and lease incentives that have been incurred. The options to extend our leases are not recognized as part of our ROU assets and lease liabilities unless it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For all leases, we combine non-lease components with the related lease components and account for it as a single lease component. The ROU assets are subject to the same impairment process as our long-lived assets. Additionally, we review our lease liabilities for remeasurement whenever there is a triggering event or when relevant facts and circumstances change.
Research and Development	Research and Development Research and development costs primarily include development, maintenance, and data conversion activities related to our cloud-based supply chain management products and are expensed as incurred. Research and development costs are net of amounts capitalized as developed software.
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. Goodwill is attributed to a trained workforce and other buyer-specific value resulting from expected synergies, including long-term cost savings, which are not included in the fair values of identifiable assets.
Intangible Assets	Intangible Assets Assets acquired in business combinations may include identifiable intangible assets such as subscriber relationships and developed technology. We recognize the fair value of the identifiable intangible assets acquired separately from goodwill. We have determined the fair value and useful lives of our purchased intangible assets using certain estimates and assumptions that we believe are reasonable. The purchased intangible assets are being amortized on a straight-line basis over their estimated useful lives. The estimated useful lives for intangible were as follows: Estimated Useful Life Subscriber relationships 7-10 years Developed technology 3-10 years
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets We review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The carrying amount of a long-lived asset is not recoverable if the carrying amount of an asset group exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the assets at the date it is tested for recoverability, whether in use or under development. An impairment loss is measured and recorded as an expense in the consolidated statements of comprehensive income as the amount by which the carrying amount of a long-lived asset exceeds its fair value.
Revenue Recognition	Revenue Recognition Revenues are the amount that reflects the consideration we are contractually and legally entitled to, as well as the amount we expect to collect, in exchange for those services. We determine revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, we satisfy a performance obligation See Note C for further descriptions of our revenue recognition policy.
Deferred Costs	Deferred Costs Deferred costs are those that are incurred to fulfill or obtain customer contracts and that are considered incremental and recoverable costs. These consist primarily of customer implementation costs, commissions paid to sales personnel and referral partners, respectively. These costs are deferred and amortized over the expected period of benefit which we have determined to be two years. Customer implementation costs are based on actual costs incurred. Related amortization expense is included in cost of revenues in the consolidated statements of comprehensive income. Sales commissions are calculated based on estimated annual recurring revenue to be generated over the customer’s initial contract period. Related amortization expense is included in sales and marketing expenses in the consolidated statements of comprehensive income.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation includes grants of incentive and nonqualified stock options, performance share units (“PSUs”), restricted stock awards (“RSAs”), restricted stock units (“RSUs”), deferred stock units (“DSUs”), employee stock purchase plan (“ESPP”) activity, and 401(k) stock match and is used to compensate employees, executive officers, and non-employee directors. We recognize the cost of all stock-based payments based on the grant date fair value of those awards. This cost is recognized over the period for which an employee is required to provide service in exchange for the award or the award performance period, except for expenses relating to retirement-eligible employees that have not given their required notice, which is recognized on a pro-rata basis over the notice period prior to retirement. For all awards, we recognize forfeitures as they occur. RSAs result in the issuance of new shares when granted. For other stock-based awards, new shares are issued when the award is exercised, vested, or released according to the terms of the agreement. Our ESPP allows participating employees to purchase shares of our common stock at a discount through payroll deductions. The plan is available to all employees subject to certain eligibility requirements. Participating employees may purchase common stock, on a voluntary after-tax basis, at a price that is the lower of 85% of the fair market value of our common stock at the beginning or end of each stock purchase period. The plan is a Type B plan, so the number of shares a participants can acquire is variable. Participants purchase more shares as the stock price decreases, up to the total amount originally elected to withhold at the beginning of the offering period. The plan consists of two six-month offering periods, beginning on January 1 and July 1 of each calendar year. The fair value of stock options and ESPP activity is estimated using the Black-Scholes option valuation model. The fair value for RSAs, RSUs, and DSUs is the closing market value of the underlying stock on the date of grant less the purchase price (if any). The fair value of PSUs is estimated using a Monte Carlo simulation. Judgment is required in determining the expected volatility of common stock and the expected term individuals will hold their share-based awards prior to exercising. The expected volatility of the options is based on the historical volatility of our common stock. The expected term of the options is derived from historical data on option holder exercises and post-vesting employment termination behavior.
Income Taxes	Income Taxes We account for income taxes using the asset and liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in our judgment, it is more likely than not that some or all of the deferred tax asset will not be realized. Deferred tax positions are net by jurisdiction on the consolidated balance sheet. We assess our ability to realize our deferred tax assets at the end of each reporting period. Realization of our deferred tax assets is contingent upon future taxable earnings. Accordingly, this assessment requires estimates and judgment. If the estimates of future taxable income vary from actual results, our assessment regarding the realization of these deferred tax assets could change. Future changes in the estimated amount of deferred taxes expected to be realized will be reflected in our consolidated financial statements in the period the estimate is changed, with a corresponding adjustment to our operating results. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would “more likely than not” sustain the position following an audit. For tax positions meeting the “more likely than not” threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. It is our practice to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense.
Net Income Per Share	Net Income Per Share Basic net income per share has been computed using the weighted average number of shares of common stock outstanding during each period. Diluted net income per share also includes the impact of our outstanding potential common shares, including options, RSAs, RSUs, PSUs, and DSUs. Potential common shares that are anti-dilutive are excluded from the calculation of diluted net income per share.
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted Standard Date of Issuance Description Date of Required Adoption Effect on the Financial Statements ASU 2021-08 , Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers October 2021 This amendment requires that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, effective for all business combinations in the year of adoption and thereafter. January 2023 The adoption of this standard may have a material impact on the purchase accounting for business combinations depending on the specific amount of contract assets and liabilities being acquired.

General (Tables)

General (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Estimated Useful Lives of Property and Equipment	The estimated useful lives of property and equipment were as follows: Estimated Useful Life Internally developed software 3 years Computer equipment 2-3 years Office equipment and furniture 5-7 years Leasehold improvements Shorter of the useful life of the asset or the remaining term of the lease Property and equipment, net consisted of the following: December 31, (in thousands) 2022 2021 Internally developed software $ 49,994 $ 44,981 Computer equipment 30,310 29,329 Leasehold improvements 16,531 16,685 Office equipment and furniture 10,981 10,972 Property and equipment, cost 107,816 101,967 Less: accumulated depreciation and amortization (72,358) (70,066) Total property and equipment, net $ 35,458 $ 31,901
Summary of Estimated Useful Lives of Intangible Assets	The estimated useful lives for intangible were as follows: Estimated Useful Life Subscriber relationships 7-10 years Developed technology 3-10 years

Business Acquisitions (Tables)

Business Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Estimated Fair Values of Assets Acquired and Liabilities Assumed at Acquisition Date	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition dates: 2022 Acquisition Activity GCommerce InterTrade (in thousands) Acquisition Date Estimated Fair Value as of Adjustments Acquisition Date Estimated Fair Value as of Acquisition Date Estimated Fair Value as of Cash paid at transaction date $ 45,153 $ — $ 45,153 $ 47,165 Contingent consideration — — — 2,000 Post-closing adjustments (64) — (64) (93) Total consideration $ 45,089 $ — $ 45,089 $ 49,072 Estimated fair value of assets and liabilities acquired: Cash $ 230 $ — $ 230 $ 668 Accounts receivable 467 — 467 1,302 Other current assets 288 — 288 1,903 Operating lease right-of-use asset 934 — 934 — Intangible assets Subscriber relationships 18,225 (925) 17,300 17,640 Developed technology 2,025 275 2,300 4,410 Deferred income tax assets 5,291 1,440 6,731 101 Accounts payable (266) — (266) (2,337) Accrued compensation (321) — (321) — Deferred revenue (262) — (262) (397) Operating lease liability (934) — (934) — Deferred income tax liabilities (5,144) 537 (4,607) (6,228) Total fair value of assets and liabilities acquired $ 20,533 $ 1,327 $ 21,860 $ 17,062 Goodwill $ 24,556 $ (1,327) $ 23,229 $ 32,010
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The following table summarizes the estimated useful lives for each acquired intangible asset, each of which are subject to finalization: Estimated Useful Life GCommerce InterTrade Subscriber relationships 8.0 years 8.0 years Developed technology 5.0 years 6.0 years

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Revenues by Revenue Stream	We derive our revenues from the following revenue streams: Year Ended December 31, (in thousands) 2022 2021 2020 Recurring revenues: Fulfillment $ 364,148 $ 306,851 $ 251,272 Analytics 46,894 42,674 38,824 Other 8,005 5,481 4,920 Recurring Revenues 419,047 355,006 295,016 One-time revenues 31,828 30,270 17,614 Total revenue $ 450,875 $ 385,276 $ 312,630
Summary of Deferred Revenue Liability Relating to Set-Up Fees	The table below presents the activity of the portion of the deferred revenue liability relating to set-up fees: Year Ended December 31, (in thousands) 2022 2021 Balance, beginning of year $ 14,459 $ 11,118 Invoiced set-up fees 15,457 15,931 Recognized set-up fees (14,917) (12,590) Balance, end of year $ 14,999 $ 14,459

Deferred Costs (Tables)

Deferred Costs (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Costs [Abstract]
Summary of Deferred Costs Activity	The deferred costs activity was as follows: Year Ended December 31, (in thousands) 2022 2021 Balance, beginning of year $ 59,720 $ 50,595 Incurred deferred costs 72,509 64,076 Amortized deferred costs (62,050) (54,951) Balance, end of year $ 70,179 $ 59,720

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Cash Equivalents and Investments	Cash equivalents and investments, as measured at fair value on a recurring basis, consisted of the following: December 31, 2022 December 31, 2021 Fair Value Level Amortized Cost Unrealized Gains (Losses), net Fair Value Amortized Cost Unrealized Gains (Losses), net Fair Value (in thousands) Cash equivalents: Money market funds Level 1 $ 73,368 $ — $ 73,368 $ 138,205 $ — $ 138,205 Investments: Certificates of deposit Level 1 6,813 — 6,813 7,268 — 7,268 Marketable securities: Commercial paper Level 2 44,224 375 44,599 34,984 7 34,991 U.S. treasury securities Level 2 — — — 7,500 (1) 7,499 $ 124,405 $ 375 $ 124,780 $ 187,957 $ 6 $ 187,963

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of Allowance for Credit Losses Activity Included in Accounts Receivable Net	The allowance for credit losses activity, included in accounts receivable, net, was as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Balance, beginning of year $ 4,249 $ 4,233 $ 1,469 Provision for credit losses 3,359 4,717 5,660 Write-offs, net of recoveries (4,542) (4,790) (4,319) Initial allowance for business combination acquired receivables — 89 354 Adoption of ASU 2016-13 — — 1,069 Balance, end of year $ 3,066 $ 4,249 $ 4,233

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	The estimated useful lives of property and equipment were as follows: Estimated Useful Life Internally developed software 3 years Computer equipment 2-3 years Office equipment and furniture 5-7 years Leasehold improvements Shorter of the useful life of the asset or the remaining term of the lease Property and equipment, net consisted of the following: December 31, (in thousands) 2022 2021 Internally developed software $ 49,994 $ 44,981 Computer equipment 30,310 29,329 Leasehold improvements 16,531 16,685 Office equipment and furniture 10,981 10,972 Property and equipment, cost 107,816 101,967 Less: accumulated depreciation and amortization (72,358) (70,066) Total property and equipment, net $ 35,458 $ 31,901
Schedule of Depreciation and Amortization Expense of Property and Equipment	Depreciation and amortization expense of property and equipment was as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Depreciation and amortization expense $ 16,421 $ 14,788 $ 13,127

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, net (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Activity in Goodwill	The activity in goodwill was as follows: Year Ended December 31, (in thousands) 2022 2021 Balance, beginning of year $ 143,663 $ 134,853 Additions from business acquisitions 56,566 8,914 Foreign currency translation (1,618) (372) Remeasurement from provisional purchase accounting amount (1,327) 268 Balance, end of year $ 197,284 $ 143,663
Intangible Assets	Intangible assets, net consisted of the following: December 31, 2022 ($ in thousands) Gross Carrying Amount Accumulated Amortization Foreign Currency Translation Net Weighted Average Remaining Subscriber relationships $ 80,101 $ (22,255) $ (171) $ 57,675 6.8 years Developed technology 40,610 (9,934) 1 30,677 5.4 years $ 120,711 $ (32,189) $ (170) $ 88,352 6.4 years December 31, 2021 ($ in thousands) Gross Carrying Amount Accumulated Amortization Foreign Currency Translation Net Weighted Average Remaining Subscriber relationships $ 61,270 $ (29,866) $ (1,395) $ 30,009 6.4 years Developed technology 35,316 (6,738) — 28,578 6.8 years $ 96,586 $ (36,604) $ (1,395) $ 58,587 6.6 years
Estimated Annual Amortization Expense Related to Intangible Assets	The estimated future annual amortization expense related to intangible assets is as follows: (in thousands) 2023 $ 15,289 2024 14,098 2025 13,960 2026 12,956 2027 12,493 Thereafter 19,556 Total future amortization $ 88,352

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Operating lease cost $ 3,087 $ 3,089 $ 2,719 Variable lease cost 3,576 3,660 3,578 $ 6,663 $ 6,749 $ 6,297
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: December 31, (in thousands) 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 4,639 $ 3,757 Right-of-use assets obtained in exchange for operating lease liabilities 934 992
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to operating leases was as follows: December 31, 2022 December 31, 2021 Weighted-average remaining lease term 3.9 years 4.8 years Weighted-average discount rate 4.0 % 4.0 %
Schedule of Future Minimum Payments Under Operating Leases	At December 31, 2022, our future minimum payments under operating leases were as follows: (in thousands) 2023 $ 4,889 2024 4,485 2025 4,369 2026 3,764 2027 1,265 Total future payments 18,772 Less: imputed interest (1,486) Total operating lease liabilities $ 17,286

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Class of Treasury Stock	Our board of directors has authorized multiple non-concurrent programs to repurchase our common stock. Details of the programs and activity thereunder through December 31, 2022 were as follows: (in thousands) Effective Date Expiration Date Share Value Authorized for Repurchase Share Value Repurchased Unused & Expired Share Repurchase Value Share Value Available for Future Repurchase 2019 Program November 2019 November 2021 $ 50,000 $ 29,611 $ 20,389 N/A 2021 Program November 2021 August 2022 50,000 49,992 8 N/A 2022 Program August 2022 July 2024 50,000 2,992 N/A $ 47,008 The share repurchase activity by period was as follows: Year Ended December 31, (in thousands, except shares and per share amounts) 2022 2021 2020 Number of shares repurchased 361,745 176,103 371,902 Shares repurchased cost $ 43,215 $ 20,430 $ 18,950 Average price per repurchased share $ 119.46 $ 116.01 $ 50.95

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Expense	Stock-based compensation expense was allocated in the consolidated statements of comprehensive income as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Cost of revenues $ 8,684 $ 6,760 $ 3,948 Operating expenses Sales and marketing 7,590 6,248 4,119 Research and development 5,634 4,384 3,626 General and administrative 11,491 10,182 7,243 $ 33,399 $ 27,574 $ 18,936 Stock-based compensation expense by grant type or plan was as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Stock options $ 1,903 $ 2,057 $ 2,232 PSUs 7,509 6,417 3,219 RSUs 19,282 15,388 10,367 RSAs & DSUs 437 434 446 ESPP 2,144 1,391 1,117 401(k) stock match 2,124 1,887 1,555 $ 33,399 $ 27,574 $ 18,936
Stock Option Activity	Our stock option activity was as follows: Options Weighted Average Outstanding at December 31, 2019 1,543,912 30.03 Granted 127,974 59.02 Exercised (712,074) 26.11 Forfeited (14,926) 43.14 Outstanding at December 31, 2020 944,886 36.71 Granted 53,223 105.53 Exercised (311,378) 30.10 Forfeited (8,081) 68.62 Outstanding at December 31, 2021 678,650 44.76 Granted 56,430 122.59 Exercised (164,393) 29.86 Forfeited (7,990) 92.48 Outstanding at December 31, 2022 562,697 56.24
Summary of Additional Information Related to Stock Options	The table below presents additional information related to our stock options: Year Ended December 31, (in thousands, except per share data) 2022 2021 2020 Fair value of options vested $ 1,996 $ 2,509 $ 3,000 Intrinsic value of options exercised 16,705 27,713 31,737 Intrinsic value of options outstanding 40,692 66,235 67,918 Weighted-average fair value per share of options granted 41.34 31.31 16.18
Weighted Average Fair Value Per Share of Options Granted, Assumptions	The fair values of the options granted were estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions: Year Ended December 31, 2022 2021 2020 Life (in years) 4.3 4.4 4.0 Volatility 38 % 35 % 33 % Dividend yield — — — Risk-free interest rate 2.50 % 0.59 % 0.99 %
PSU, RSU, RSA, and DSU	Activity for our PSUs, RSUs, RSAs, and DSUs in aggregate was as follows: (#) Weighted Average Outstanding at December 31, 2019 797,546 38.80 Granted 331,264 62.78 Vested and common stock issued (222,606) 36.06 Forfeited (167,782) 30.09 Outstanding at December 31, 2020 738,422 52.37 Granted 314,290 101.85 Vested and common stock issued (331,669) 44.14 Forfeited (18,883) 66.35 Outstanding at December 31, 2021 702,160 78.03 Granted 312,880 126.44 Vested and common stock issued (276,872) 64.12 Forfeited (26,010) 99.37 Outstanding at December 31, 2022 712,158 103.93
Summary of ESPP Activity	Our ESPP activity was as follows: Year Ended December 31, (in thousands, except share data) 2022 2021 2020 Amounts for shares purchased $ 6,676 $ 4,737 $ 3,374 Shares purchased 70,107 55,726 61,833
Fair Value Estimation of Common Stock, Assumptions	The fair value was estimated based on the market price of our common stock at the beginning of the offering period using the following assumptions: Year Ended December 31, 2022 2021 2020 Life (in years) 0.5 0.5 0.5 Volatility 42 % 32 % 43 % Dividend yield — — — Risk-free interest rate 1.27 % 0.07 % 0.96 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	Our provision for income taxes was comprised of the following components: Year Ended December 31, (in thousands) 2022 2021 2020 Current Federal $ 13,881 $ 1,559 $ — State 4,149 1,890 1,249 Foreign 1,990 1,610 1,608 Deferred Federal (2,530) 4,294 4,462 State (751) (88) 244 Foreign (549) (321) (469) $ 16,190 $ 8,944 $ 7,094
Schedule of Income Tax Expense Differed from Amounts Computed by applying U.S. Federal Income Tax Rate to Pretax Income	Our income tax expense differed from the amounts computed by applying the U.S. federal income tax rate to pretax income as a result of the following: Year Ended December 31, 2022 2021 2020 U.S. statutory federal income tax rate 21.0 % 21.0 % 21.0 % Increase (decrease) resulting from: U.S. state income taxes, net of federal tax effect 4.6 4.5 4.5 Tax impact of stock activity (4.7) (12.8) (12.9) Nondeductible compensation 3.5 5.0 1.8 Research and development credit (1.5) (1.1) (0.6) Foreign derived intangible income (1.4) (1.3) (1.3) Other 1.2 1.4 1.0 Effective tax rate 22.7 % 16.7 % 13.5 %
Significant Components of Deferred Tax Assets (Liabilities)	The significant components of our deferred tax assets and liabilities were as follows: December 31, (in thousands) 2022 2021 Deferred tax assets Net operating loss and credit carryforwards $ 9,970 $ 4,828 Stock-based compensation expense 5,084 3,934 Accrued expenses 4,469 5,174 Operating lease liabilities 4,384 5,235 Research and development capitalized 9,591 — Other deferred tax assets 2,408 2,778 Gross deferred tax assets 35,906 21,949 Less: valuation allowance (1,873) (1,815) Total net deferred tax assets $ 34,033 $ 20,134 Deferred tax liabilities Deferred costs $ (17,696) $ (15,126) Right-of-use assets (2,338) (2,787) Depreciation and amortization (20,282) (8,820) Other deferred tax liabilities (909) (364) Total deferred tax liabilities (41,225) (27,097) Net deferred tax liabilities $ (7,192) $ (6,963)

Other Income and Expense (Table

Other Income and Expense (Tables)	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Summary of Other Income (Expense), Net	Other income (expense), net included the following: Year Ended December 31, (in thousands) 2022 2021 2020 Investment income $ 1,670 $ 278 $ 1,208 Realized gain (loss) from foreign currency on cash and investments held (1,026) (1,456) 1,753 Change in earn-out liability — — (85) Other expense, net (502) (366) (354) Total other income (expense), net $ 142 $ (1,544) $ 2,522

Net Income Per Share (Tables)

Net Income Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Components of Computation of Basic and Diluted Net Income Per Share	The components and computation of basic and diluted net income per share were as follows: Year Ended December 31, (in thousands, except per share amounts) 2022 2021 2020 Numerator Net income $ 55,134 $ 44,597 $ 45,586 Denominator Weighted average common shares outstanding, basic 36,117 35,928 35,226 Options to purchase common stock 382 529 611 PSUs, RSUs, RSAs, and DSUs 454 505 448 Weighted average common shares outstanding, diluted 36,953 36,962 36,285 Net income per share Basic $ 1.53 $ 1.24 $ 1.29 Diluted $ 1.49 $ 1.21 $ 1.26
Schedule of Anti-dilutive Common Shares Excluded from Calculation of Diluted Net Income Per Share	The number of outstanding potential common shares that were excluded from the calculation of diluted net income per share as they were anti-dilutive was as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Anti-dilutive shares 75 31 26

Retirement Savings Plan (Tables

Retirement Savings Plan (Tables)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Schedule of Total Contribution to the Plan	Our total contributions to the plan were as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Retirement contributions $ 5,386 $ 4,790 $ 3,889

Geographic Information (Tables)

Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Domestic Revenue	The percentage of domestic revenue, which we define as the percentage of consolidated revenue that was attributable to customers based within the U.S., was as follows: Year Ended December 31, 2022 2021 2020 Domestic revenue 84 % 84 % 85 %
Summary of Percentage of Property and Equipment Net Located at Subsidiary and Office Locations Outside of Unites States	The percentage of property and equipment, net located at subsidiary and office locations outside of the U.S. was as follows: December 31, 2022 2021 International property and equipment 13 % 12 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Summary of Contributions to Foundation	Our contributions to the Foundation were as follows: Year Ended December 31, (in thousands) 2022 2021 2020 Foundation contributions $ 2,750 $ 2,400 $ 1,800

General - Narrative (Detail)

General - Narrative (Detail)	12 Months Ended
	Dec. 31, 2022 period Segment
Schedule of Accounting Policies [Line Items]
Number of reportable segment	1
Number of operating segment	1
Deferred commission expected amortization period	2 years
Number of offering periods | period	2
Stock plan offering period	6 months

General - Summary of Estimated

General - Summary of Estimated Useful Lives of Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2022
Internally developed software
Schedule of Accounting Policies [Line Items]
Estimated useful lives of property and equipment	3 years
Computer equipment | Minimum
Schedule of Accounting Policies [Line Items]
Estimated useful lives of property and equipment	2 years
Computer equipment | Maximum
Schedule of Accounting Policies [Line Items]
Estimated useful lives of property and equipment	3 years
Office equipment and furniture | Minimum
Schedule of Accounting Policies [Line Items]
Estimated useful lives of property and equipment	5 years
Office equipment and furniture | Maximum
Schedule of Accounting Policies [Line Items]
Estimated useful lives of property and equipment	7 years

General - Summary of Estimate_2

General - Summary of Estimated Useful Lives of Intangible Assets (Detail)	12 Months Ended
	Dec. 31, 2022
Subscriber relationships | Minimum
Schedule of Accounting Policies [Line Items]
Estimated useful lives of intangible assets	7 years
Subscriber relationships | Maximum
Schedule of Accounting Policies [Line Items]
Estimated useful lives of intangible assets	10 years
Developed technology | Minimum
Schedule of Accounting Policies [Line Items]
Estimated useful lives of intangible assets	3 years
Developed technology | Maximum
Schedule of Accounting Policies [Line Items]
Estimated useful lives of intangible assets	10 years

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Detail) - USD ($) $ in Thousands			12 Months Ended
	Oct. 04, 2022	Jul. 19, 2022	Dec. 31, 2022
GCommerce Inc
Business Acquisition [Line Items]
Total consideration		$ 45,100	$ 45,089
Measurement period		1 year
InterTrade Systems Inc.
Business Acquisition [Line Items]
Total consideration	$ 49,100		49,072
Measurement period	1 year
Contingent consideration	$ 2,000		$ 2,000

Business Acquisitions - Estimat

Business Acquisitions - Estimated Fair Values of Assets Acquired and Liabilities Assumed at Acquisition Date (Detail) - USD ($) $ in Thousands				9 Months Ended	12 Months Ended
	Oct. 04, 2022	Sep. 30, 2022	Jul. 19, 2022	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Estimated fair value of assets and liabilities acquired:
Goodwill					$ 197,284	$ 143,663	$ 134,853
GCommerce Inc
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Cash paid at transaction date					45,153
Contingent consideration					0
Post-closing adjustments					(64)
Total consideration			$ 45,100		45,089
Estimated fair value of assets and liabilities acquired:
Cash					230
Accounts receivable					467
Other current assets					288
Operating lease right-of-use asset					934
Deferred income tax assets					6,731
Accounts payable					(266)
Accrued compensation					(321)
Deferred revenue					(262)
Operating lease liability					(934)
Deferred income tax liabilities					(4,607)
Total purchase price					21,860
Goodwill					23,229
GCommerce Inc | Previously Reported
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Cash paid at transaction date		$ 45,153
Contingent consideration		0
Post-closing adjustments		(64)
Total consideration		45,089
Estimated fair value of assets and liabilities acquired:
Cash		230		$ 230
Accounts receivable		467		467
Other current assets		288		288
Operating lease right-of-use asset		934		934
Deferred income tax assets		5,291		5,291
Accounts payable		(266)		(266)
Accrued compensation		(321)		(321)
Deferred revenue		(262)		(262)
Operating lease liability		(934)		(934)
Deferred income tax liabilities		(5,144)		(5,144)
Total purchase price		20,533		20,533
Goodwill		24,556		24,556
GCommerce Inc | Revision of Prior Period, Adjustment
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Cash paid at transaction date				0
Contingent consideration				0
Post-closing adjustments				0
Total consideration				0
Estimated fair value of assets and liabilities acquired:
Cash		0		0
Accounts receivable		0		0
Other current assets		0		0
Operating lease right-of-use asset		0		0
Deferred income tax assets		1,440		1,440
Accounts payable		0		0
Accrued compensation		0		0
Deferred revenue		0		0
Operating lease liability		0		0
Deferred income tax liabilities		537		537
Total purchase price		1,327		1,327
Goodwill		(1,327)		(1,327)
GCommerce Inc | Subscriber relationships
Estimated fair value of assets and liabilities acquired:
Intangible assets					17,300
GCommerce Inc | Subscriber relationships | Previously Reported
Estimated fair value of assets and liabilities acquired:
Intangible assets		18,225		18,225
GCommerce Inc | Subscriber relationships | Revision of Prior Period, Adjustment
Estimated fair value of assets and liabilities acquired:
Intangible assets		(925)		(925)
GCommerce Inc | Developed technology
Estimated fair value of assets and liabilities acquired:
Intangible assets					2,300
GCommerce Inc | Developed technology | Previously Reported
Estimated fair value of assets and liabilities acquired:
Intangible assets		2,025		2,025
GCommerce Inc | Developed technology | Revision of Prior Period, Adjustment
Estimated fair value of assets and liabilities acquired:
Intangible assets		$ 275		$ 275
InterTrade Systems Inc.
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Cash paid at transaction date					47,165
Contingent consideration					2,000
Post-closing adjustments					(93)
Total consideration	$ 49,100				49,072
Estimated fair value of assets and liabilities acquired:
Cash					668
Accounts receivable					1,302
Other current assets					1,903
Operating lease right-of-use asset					0
Deferred income tax assets					101
Accounts payable					(2,337)
Accrued compensation					0
Deferred revenue					(397)
Operating lease liability					0
Deferred income tax liabilities					(6,228)
Total purchase price					17,062
Goodwill					32,010
InterTrade Systems Inc. | Subscriber relationships
Estimated fair value of assets and liabilities acquired:
Intangible assets					17,640
InterTrade Systems Inc. | Developed technology
Estimated fair value of assets and liabilities acquired:
Intangible assets					$ 4,410

Business Acquisitions - Estim_2

Business Acquisitions - Estimated Fair Value of Purchased Intangible Assets and Estimated Useful Lives (Detail)	12 Months Ended
	Dec. 31, 2022
GCommerce Inc | Subscriber relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	8 years
GCommerce Inc | Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	5 years
InterTrade Systems Inc. | Subscriber relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	8 years
InterTrade Systems Inc. | Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	6 years

Revenue - Summary of Revenues b

Revenue - Summary of Revenues by Revenue Stream (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue Recognition [Line Items]
Revenues	$ 450,875	$ 385,276	$ 312,630
Recurring Revenues
Revenue Recognition [Line Items]
Revenues	419,047	355,006	295,016
One-time revenues
Revenue Recognition [Line Items]
Revenues	31,828	30,270	17,614
Fulfillment | Recurring Revenues
Revenue Recognition [Line Items]
Revenues	364,148	306,851	251,272
Analytics | Recurring Revenues
Revenue Recognition [Line Items]
Revenues	46,894	42,674	38,824
Other | Recurring Revenues
Revenue Recognition [Line Items]
Revenues	$ 8,005	$ 5,481	$ 4,920

Revenue - Narrative (Detail)

Revenue - Narrative (Detail)	12 Months Ended
	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Latest timing of billings	30 days
Set up fees recognized period	2 years
Maximum recognition period for miscellaneous one-time fee	1 year
Minimum
Disaggregation Of Revenue [Line Items]
Customer contract cancellation period	30 days
Maximum
Disaggregation Of Revenue [Line Items]
Customer contract cancellation period	90 days
Contract period for remaining performance obligations for contracts in which the optional exemption under ASC 606-10-50-14(a) was applied	1 year

Revenue - Summary of Deferred R

Revenue - Summary of Deferred Revenue Liability Relating to Set-Up Fees (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Deferred Revenue Arrangement [Roll Forward]
Balance, beginning of year	$ 50,400
Balance, end of year		$ 50,400
Set-Up Fees
Deferred Revenue Arrangement [Roll Forward]
Balance, beginning of year	14,459	11,118
Invoiced set-up fees	15,457	15,931
Recognized set-up fees	(14,917)	(12,590)
Balance, end of year	$ 14,999	$ 14,459

Deferred Costs - Summary of Def

Deferred Costs - Summary of Deferred Costs Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs [Roll Forward]
Balance, beginning of year	$ 59,720	$ 50,595
Incurred deferred costs	72,509	64,076
Amortized deferred costs	(62,050)	(54,951)
Balance, end of year	$ 70,179	$ 59,720

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Cash Equivalents and Investments (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Financial Instruments [Line Items]
Amortized Cost	$ 124,405	$ 187,957
Unrealized Gains (Losses), net	375	6
Fair Value	124,780	187,963
Level 1 | Money market funds
Schedule of Financial Instruments [Line Items]
Amortized Cost	73,368	138,205
Unrealized Gains (Losses), net	0	0
Fair Value	73,368	138,205
Level 1 | Certificates of deposit
Schedule of Financial Instruments [Line Items]
Amortized Cost	6,813	7,268
Unrealized Gains (Losses), net	0	0
Fair Value	6,813	7,268
Level 2 | Commercial paper
Schedule of Financial Instruments [Line Items]
Amortized Cost	44,224	34,984
Unrealized Gains (Losses), net	375	7
Fair Value	44,599	34,991
Level 2 | U.S. treasury securities
Schedule of Financial Instruments [Line Items]
Amortized Cost	0	7,500
Unrealized Gains (Losses), net	0	(1)
Fair Value	$ 0	$ 7,499

Allowance for Credit Losses - S

Allowance for Credit Losses - Schedule of Allowance for Credit Losses Activity Included in Accounts Receivable Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of year	$ 4,249	$ 4,233	$ 1,469
Provision for credit losses	3,359	4,717	5,660
Write-offs, net of recoveries	(4,542)	(4,790)	(4,319)
Initial allowance for business combination acquired receivables	0	89	354
Adoption of ASU 2016-13	0	0	1,069
Balance, end of year	$ 3,066	$ 4,249	$ 4,233

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, cost	$ 107,816	$ 101,967
Less: accumulated depreciation and amortization	(72,358)	(70,066)
Total property and equipment, net	35,458	31,901
Internally developed software
Property, Plant and Equipment [Line Items]
Property and equipment, cost	49,994	44,981
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, cost	30,310	29,329
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, cost	16,531	16,685
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Property and equipment, cost	$ 10,981	$ 10,972

Property and Equipment, net -_2

Property and Equipment, net - Schedule of Depreciation and Amortization Expense of Property and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 16,421	$ 14,788	$ 13,127

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, net - Schedule of Activity in Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Balance, beginning of year	$ 143,663	$ 134,853
Additions from business acquisitions	56,566	8,914
Foreign currency translation	(1,618)	(372)
Remeasurement from provisional purchase accounting amount	(1,327)	268
Balance, end of year	$ 197,284	$ 143,663

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, net - Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 120,711	$ 96,586
Accumulated Amortization	(32,189)	(36,604)
Foreign Currency Translation	(170)	(1,395)
Net	$ 88,352	$ 58,587
Weighted Average Remaining Amortization Period	6 years 4 months 24 days	6 years 7 months 6 days
Subscriber relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 80,101	$ 61,270
Accumulated Amortization	(22,255)	(29,866)
Foreign Currency Translation	(171)	(1,395)
Net	$ 57,675	$ 30,009
Weighted Average Remaining Amortization Period	6 years 9 months 18 days	6 years 4 months 24 days
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 40,610	$ 35,316
Accumulated Amortization	(9,934)	(6,738)
Foreign Currency Translation	1	0
Net	$ 30,677	$ 28,578
Weighted Average Remaining Amortization Period	5 years 4 months 24 days	6 years 9 months 18 days

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, net - Estimated Future Annual Amortization Expense Related to Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 15,289
2024	14,098
2025	13,960
2026	12,956
2027	12,493
Thereafter	19,556
Net	$ 88,352	$ 58,587

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Detail) ft² in Thousands, $ in Millions	Dec. 31, 2022 USD ($) ft² option
Commitments and Contingencies Disclosure [Abstract]
Current leased space | ft²	198
Lease extension period, number of years	5 years
Number of extension options | option	2
Remaining purchase commitment | $	$ 4.9

Commitments and Contingencies_2

Commitments and Contingencies - Components of Lease Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 3,087	$ 3,089	$ 2,719
Variable lease cost	3,576	3,660	3,578
Total Lease expense	$ 6,663	$ 6,749	$ 6,297

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 4,639	$ 3,757
Right-of-use assets obtained in exchange for operating lease liabilities	$ 934	$ 992

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Supplemental Balance Sheet Information Related to Leases (Detail)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted-average remaining lease term	3 years 10 months 24 days	4 years 9 months 18 days
Weighted-average discount rate	4%	4%

Commitments and Contingencies_5

Commitments and Contingencies - Schedule of Future Minimum Payments Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 4,889
2024	4,485
2025	4,369
2026	3,764
2027	1,265
Total future payments	18,772
Less: imputed interest	(1,486)
Total operating lease liabilities	$ 17,286

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Stock Repurchase Program Plans and Activity (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Share Value Repurchased	$ 43,215,000	$ 20,430,000	$ 18,950,000
2019 Program | Common Stock
Class Of Stock [Line Items]
Share Value Authorized for Repurchase	50,000,000
Share Value Repurchased	29,611,000
Unused & Expired Share Repurchase Value	20,389,000
2021 Program | Common Stock
Class Of Stock [Line Items]
Share Value Authorized for Repurchase	50,000,000
Share Value Repurchased	49,992,000
Unused & Expired Share Repurchase Value	8,000
2022 Program | Common Stock
Class Of Stock [Line Items]
Share Value Authorized for Repurchase	50,000,000
Share Value Repurchased	2,992,000
Share Value Available for Future Repurchase	$ 47,008,000

Stockholders' Equity - Summar_2

Stockholders' Equity - Summary of Stock Repurchase Activity by Year (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Number of shares repurchased	361,745	176,103	371,902
Shares repurchased cost	$ 43,215,000	$ 20,430,000	$ 18,950,000
Average price per repurchased share (in dollars per share)	$ 119.46	$ 116.01	$ 50.95

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	13.2
Unrecognized stock-based compensation expense	$ 38.6
Unrecognized stock-based compensation, expected to be recognized, weighted average period	2 years 4 months 24 days
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	1.7
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding and exercisable options (in shares)	0.5
Weighted average exercise price (in dollars per share)	$ 47.80
Weighted average remaining contractual life	2 years 10 months 24 days
Vesting period	4 years
Stock options contractual term range	7 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years	3 years	3 years
Shares issued (in shares)	0.1
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
PSUs, RSUs, RSAs and DSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested at period end (in shares)	0.1
DSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Award receipt delay	10 years

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 33,399	$ 27,574	$ 18,936
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,903	2,057	2,232
PSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	7,509	6,417	3,219
RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	19,282	15,388	10,367
RSAs & DSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	437	434	446
ESPP
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	2,144	1,391	1,117
401(k) stock match
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	2,124	1,887	1,555
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	8,684	6,760	3,948
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	7,590	6,248	4,119
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	5,634	4,384	3,626
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 11,491	$ 10,182	$ 7,243

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Option Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Options (#)
Beginning balance (in shares)	678,650	944,886	1,543,912
Granted (in shares)	56,430	53,223	127,974
Exercised (in shares)	(164,393)	(311,378)	(712,074)
Forfeited (in shares)	(7,990)	(8,081)	(14,926)
Ending balance (in shares)	562,697	678,650	944,886
Weighted Average Exercise Price ($/share)
Beginning Balance (in dollars per share)	$ 44.76	$ 36.71	$ 30.03
Granted (in dollars per share)	122.59	105.53	59.02
Exercised (in dollars per share)	29.86	30.10	26.11
Forfeited (in dollars per share)	92.48	68.62	43.14
Ending Balance (in dollars per share)	$ 56.24	$ 44.76	$ 36.71

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Additional Information Related to Stock Options (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Fair value of options vested	$ 1,996	$ 2,509	$ 3,000
Intrinsic value of options exercised	16,705	27,713	31,737
Intrinsic value of options outstanding	$ 40,692	$ 66,235	$ 67,918
Weighted-average fair value per share of options granted (in dollars per share)	$ 41.34	$ 31.31	$ 16.18

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted Average Fair Value Per Share of Options Granted, Assumptions (Detail) - Stock options	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Life (in years)	4 years 3 months 18 days	4 years 4 months 24 days	4 years
Volatility	38%	35%	33%
Dividend yield	0%	0%	0%
Risk-free interest rate	2.50%	0.59%	0.99%

Stock-Based Compensation - PSU,

Stock-Based Compensation - PSU, RSU, RSA, and DSU (Detail) - PSUs, RSUs, RSAs and DSUs - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
(#)
Beginning balance (in shares)	702,160	738,422	797,546
Granted (in shares)	312,880	314,290	331,264
Vested and common stock issued (in shares)	(276,872)	(331,669)	(222,606)
Forfeited (in shares)	(26,010)	(18,883)	(167,782)
Ending balance (in shares)	712,158	702,160	738,422
Weighted Average Grant Date Fair Value ($/share)
Beginning balance (in dollars per share)	$ 78.03	$ 52.37	$ 38.80
Granted (in dollars per share)	126.44	101.85	62.78
Vested and common stock issued (in dollars per share)	64.12	44.14	36.06
Forfeited (in dollars per share)	99.37	66.35	30.09
Ending balance (in dollars per share)	$ 103.93	$ 78.03	$ 52.37

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of ESPP Activity (Detail) - Employee Stock Purchase Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amounts for shares purchased	$ 6,676	$ 4,737	$ 3,374
Shares purchased	70,107	55,726	61,833

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value Estimation of Common Stock, Assumptions (Detail) - Employee Stock Purchase Plan	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Life (in years)	6 months	6 months	6 months
Volatility	42%	32%	43%
Dividend yield	0%	0%	0%
Risk-free interest rate	1.27%	0.07%	0.96%

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current
Federal	$ 13,881	$ 1,559	$ 0
State	4,149	1,890	1,249
Foreign	1,990	1,610	1,608
Deferred
Federal	(2,530)	4,294	4,462
State	(751)	(88)	244
Foreign	(549)	(321)	(469)
Total provision for income taxes	$ 16,190	$ 8,944	$ 7,094

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense Differed from Amounts Computed by applying U.S. Federal Income Tax Rate to Pretax Income (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. statutory federal income tax rate	21%	21%	21%
Increase (decrease) resulting from:
U.S. state income taxes, net of federal tax effect	4.60%	4.50%	4.50%
Tax impact of stock activity	(4.70%)	(12.80%)	(12.90%)
Nondeductible compensation	3.50%	5%	1.80%
Research and development credit	(1.50%)	(1.10%)	(0.60%)
Foreign derived intangible income	(1.40%)	(1.30%)	(1.30%)
Other	1.20%	1.40%	1%
Effective tax rate	22.70%	16.70%	13.50%

Income Taxes - Significant Comp

Income Taxes - Significant Components of Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets
Net operating loss and credit carryforwards	$ 9,970	$ 4,828
Stock-based compensation expense	5,084	3,934
Accrued expenses	4,469	5,174
Operating lease liabilities	4,384	5,235
Research and development capitalized	9,591	0
Other deferred tax assets	2,408	2,778
Gross deferred tax assets	35,906	21,949
Less: valuation allowance	(1,873)	(1,815)
Total net deferred tax assets	34,033	20,134
Deferred tax liabilities
Deferred costs	(17,696)	(15,126)
Right-of-use assets	(2,338)	(2,787)
Depreciation and amortization	(20,282)	(8,820)
Other deferred tax liabilities	(909)	(364)
Total deferred tax liabilities	(41,225)	(27,097)
Net deferred tax liabilities	$ (7,192)	$ (6,963)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Detail) $ in Millions	Dec. 31, 2022 USD ($)
Domestic Tax Authority
Income Tax Expense Benefit [Line Items]
Net operating loss carryforward	$ 40.9
Losses expected to expire unused	6.8
Domestic Tax Authority | U.S. Internal Revenue Code
Income Tax Expense Benefit [Line Items]
Net operating loss carryforward	40.9
State and Local Jurisdiction
Income Tax Expense Benefit [Line Items]
Net operating loss carryforward	$ 4.5

Other Income and Expense - Summ

Other Income and Expense - Summary of Other Income (Expense), Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Income and Expenses [Abstract]
Investment income	$ 1,670	$ 278	$ 1,208
Realized gain (loss) from foreign currency on cash and investments held	(1,026)	(1,456)	1,753
Change in earn-out liability	0	0	(85)
Other expense, net	(502)	(366)	(354)
Total other income (expense), net	$ 142	$ (1,544)	$ 2,522

Net Income Per Share - Componen

Net Income Per Share - Components of Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator
Net income	$ 55,134	$ 44,597	$ 45,586
Denominator
Weighted average common shares outstanding, basic (in shares)	36,117	35,928	35,226
Options to purchase common stock (in shares)	382	529	611
PSUs, RSUs, RSAs, and DSUs (n shares)	454	505	448
Weighted average common shares outstanding, diluted (in shares)	36,953	36,962	36,285
Net income per share
Basic (in dollars per share)	$ 1.53	$ 1.24	$ 1.29
Diluted (in dollars per share)	$ 1.49	$ 1.21	$ 1.26

Net Income Per Share - Schedule

Net Income Per Share - Schedule of Anti-dilutive Common Shares Excluded from Calculation of Diluted Net Income Per Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net Income Per Share [Abstract]
Antidilutive shares	75	31	26

Retirement Savings Plan - Addit

Retirement Savings Plan - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Maximum allowable contribution by employee percentage	80%	80%	80%
Defined benefit plan employer matching contribution percent	50%	50%
Maximum annual contribution per employee, percent	6%

Retirement Savings Plan - Sched

Retirement Savings Plan - Schedule of Total Contribution to the Plan (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Retirement contributions	$ 5,386	$ 4,790	$ 3,889

Geographic Information - Summar

Geographic Information - Summary of Domestic Revenue (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue Benchmark | Geographic Concentration Risk | Domestic Revenue
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	84%	84%	85%

Geographic Information - Summ_2

Geographic Information - Summary of Percentage of Property and Equipment Net Located at Subsidiary and Office Locations Outside of Unites States (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue Benchmark | Geographic Concentration Risk | Foreign | Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Concentration risk, percentage	13%	12%

Related Party Transactions - Su

Related Party Transactions - Summary of Contributions to Foundation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transactions [Abstract]
Foundation contributions	$ 2,750	$ 2,400	$ 1,800