TechTarget (TTGT) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 08, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Registrant Name	TECHTARGET, INC.
Entity Central Index Key	0001293282
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		29,235,043
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.001 Par Value
Trading Symbol	TTGT
Security Exchange Name	NASDAQ
Entity File Number	1-33472
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3483216
Entity Address, Address Line One	275 Grove Street
Entity Address, City or Town	Newton
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02466
City Area Code	617
Local Phone Number	431-9200
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 278,519	$ 226,668
Short-term investments	77,310	99,601
Accounts receivable, net of allowance for doubtful accounts of $2,996 and $5,028 respectively	40,438	39,239
Prepaid taxes	3,928	1,634
Prepaid expenses and other current assets	5,660	4,331
Total current assets	405,855	371,473
Property and equipment, net	26,851	24,917
Goodwill	196,004	194,074
Intangible assets, net	84,755	89,163
Operating lease assets with right-of-use	14,605	17,166
Deferred tax assets	4,248	2,445
Other assets	652	650
Total assets	732,970	699,888
Current liabilities:
Accounts payable	6,616	5,312
Current operating lease liabilities	3,556	4,049
Accrued expenses and other current liabilities	8,133	9,041
Accrued compensation expenses	1,817	1,345
Income taxes payable	1,201	2,522
Contract liabilities	17,354	14,721
Total current liabilities	38,677	36,990
Non-current operating lease liabilities	13,933	16,615
Convertible senior notes	412,154	410,500
Deferred tax liabilities	18,730	12,856
Total liabilities	483,494	476,961
Leases and contingencies (see Note 9)
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.001 par value; 100,000,000 shares authorized; 59,480,004 and 58,659,065 shares issued, respectively; 29,235,043 and 28,415,144 shares outstanding, respectively	59	59
Treasury stock, at cost; 30,244,961 and 30,243,921 shares, respectively	(329,118)	(329,118)
Additional paid-in capital	504,471	471,696
Accumulated other comprehensive loss	(276)	(4,542)
Retained earnings	74,340	84,832
Total stockholders’ equity	249,476	222,927
Total liabilities and stockholders’ equity	$ 732,970	$ 699,888

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts, accounts receivable	$ 2,996	$ 5,028
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	59,480,004	58,659,065
Common stock, shares outstanding	29,235,043	28,415,144
Treasury Stock	30,244,961	30,243,921

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue		$ 58,472	$ 57,128	$ 169,022	$ 172,671
Cost of revenue	[1]	21,298	18,250	61,870	54,006
Amortization of acquired technology		723	700	2,128	2,067
Gross profit		36,451	38,178	105,024	116,598
Operating expenses:
Selling and marketing	[1]	22,269	23,944	68,419	73,615
Product development	[1]	2,948	2,700	8,345	7,766
General and administrative	[1]	6,607	7,383	20,927	23,007
Transaction and related expenses		2,645	0	11,240	0
Depreciation, excluding depreciation of $1,380, $996, $3,832 and $2,760, respectively, included in cost of revenue		2,317	2,180	6,930	6,275
Amortization		1,513	1,502	4,509	4,501
Total operating expenses		38,299	37,709	120,370	115,164
Operating income (loss)		(1,848)	469	(15,346)	1,434
Interest and other income, net		3,609	2,791	9,958	8,463
Gain from early extinguishment of debt			5,033	0	5,033
Income (loss) before provision for income taxes		1,761	8,293	(5,388)	14,930
Provision for income taxes		3,477	6,551	5,104	8,868
Net income (loss)		(1,716)	1,742	(10,492)	6,062
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on investments (net of tax provision effect of $217, $6, $213 and $(16), respectively)		766	21	752	(58)
Foreign currency translation gain (loss)		4,067	(2,459)	3,514	1,228
Other comprehensive income (loss)		4,833	(2,438)	4,266	1,170
Comprehensive income		$ 3,117	$ (696)	$ (6,226)	$ 7,232
Net Income (Loss) Per Common Share:
Basic		$ (0.06)	$ 0.06	$ (0.37)	$ 0.21
Diluted		$ (0.06)	$ 0.06	$ (0.37)	$ 0.21
Weighted average common shares outstanding:
Basic		28,868,000	28,073,000	28,646,000	28,295,000
Diluted weighted average shares		28,867,873	28,206,336	28,646,451	28,483,620
[1] Amounts include stock-based compensation expense as follows:

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Depreciation included in cost of revenues	$ 1,380	$ 996	$ 3,832	$ 2,760
Unrealized loss on investments, tax effect	217	6	213	(16)
Cost of Revenue [Member]
Allocated stock-based compensation expense	725	877	2,096	2,529
Selling and Marketing [Member]
Allocated stock-based compensation expense	5,466	7,064	18,190	22,445
Product Development [Member]
Allocated stock-based compensation expense	534	419	1,473	1,308
General and Administrative [Member]
Allocated stock-based compensation expense	$ 3,021	$ 3,166	$ 10,789	$ 10,204

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands		Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]
Beginning balance at Dec. 31, 2022		$ 217,474	$ 58	$ (278,876)	$ 425,458	$ (9,537)	$ 80,371
Beginning balance, shares at Dec. 31, 2022			57,919,501	28,896,408
Issuance of common stock from exercise of options		18			18
Issuance of common stock from exercise of options, shares			2,500
Issuance of common stock from restricted stock awards, shares			91,152
Purchase of common stock through stock buyback		(25,000)		$ (25,000)
Purchase of common stock through stock buyback, shares				581,295
Impact of net settlements		(177)			(177)
Impact of net settlements, shares			912	912
Excise Tax on repurchased shares		(206)			(206)
Stock-based compensation expense	[1]	14,176			14,176
Unrealized gain (loss) on investments		63				63
Unrealized gain (loss) on foreign currency exchange		2,029				2,029
Net Income (Loss)		1,645					1,645
Ending balance at Mar. 31, 2023		210,022	$ 58	$ (303,876)	439,269	(7,445)	82,016
Ending balance, shares at Mar. 31, 2023			58,014,065	29,478,615
Beginning balance at Dec. 31, 2022		217,474	$ 58	$ (278,876)	425,458	(9,537)	80,371
Beginning balance, shares at Dec. 31, 2022			57,919,501	28,896,408
Unrealized gain (loss) on investments		(58)
Net Income (Loss)		6,062
Ending balance at Sep. 30, 2023		209,008	$ 59	$ (329,077)	459,960	(8,367)	86,433
Ending balance, shares at Sep. 30, 2023			58,628,120	30,243,921
Beginning balance at Mar. 31, 2023		210,022	$ 58	$ (303,876)	439,269	(7,445)	82,016
Beginning balance, shares at Mar. 31, 2023			58,014,065	29,478,615
Shares issued under the ESPP			22,017
Issuance of common stock from employee stock purchase plan		650			650
Issuance of common stock from restricted stock awards, shares			650
Purchase of common stock through stock buyback		(25,000)		$ (25,000)
Purchase of common stock through stock buyback, shares				737,369
Excise Tax on repurchased shares		(250)			(250)
Stock-based compensation expense		12,684			12,684
Unrealized gain (loss) on investments		(142)				(142)
Unrealized gain (loss) on foreign currency exchange		1,658				1,658
Net Income (Loss)		2,675					2,675
Ending balance at Jun. 30, 2023		202,297	$ 58	$ (328,876)	452,353	(5,929)	84,691
Ending balance, shares at Jun. 30, 2023			58,036,732	30,215,984
Issuance of common stock from restricted stock awards, shares			563,451
Issuance of common stock from restricted stock awards			$ 1		(1)
Impact of net settlements		(4,374)			(4,374)
Impact of net settlements, shares			27,937	27,937
Excise Tax on repurchased shares		255		$ (201)	456
Stock-based compensation expense		11,526			11,526
Unrealized gain (loss) on investments		21				21
Unrealized gain (loss) on foreign currency exchange		(2,459)				(2,459)
Net Income (Loss)		1,742					1,742
Ending balance at Sep. 30, 2023		209,008	$ 59	$ (329,077)	459,960	(8,367)	86,433
Ending balance, shares at Sep. 30, 2023			58,628,120	30,243,921
Beginning balance at Dec. 31, 2023		222,927	$ 59	$ (329,118)	471,696	(4,542)	84,832
Beginning balance, shares at Dec. 31, 2023			58,659,065	30,243,921
Issuance of common stock from restricted stock awards, shares			133,490
Impact of net settlements		(139)			(139)
Impact of net settlements, shares			290	290
Stock-based compensation expense		11,459			11,459
Unrealized gain (loss) on investments		(23)				(23)
Unrealized gain (loss) on foreign currency exchange		(642)				(642)
Net Income (Loss)		(10,088)					(10,088)
Ending balance at Mar. 31, 2024		223,494	$ 59	$ (329,118)	483,016	(5,207)	74,744
Ending balance, shares at Mar. 31, 2024			58,792,845	30,244,211
Beginning balance at Dec. 31, 2023		$ 222,927	$ 59	$ (329,118)	471,696	(4,542)	84,832
Beginning balance, shares at Dec. 31, 2023			58,659,065	30,243,921
Issuance of common stock from exercise of options, shares		0
Unrealized gain (loss) on investments		$ 752
Net Income (Loss)		(10,492)
Ending balance at Sep. 30, 2024		249,476	$ 59	$ (329,118)	504,471	(276)	74,340
Ending balance, shares at Sep. 30, 2024			59,480,004	30,244,961
Beginning balance at Mar. 31, 2024		223,494	$ 59	$ (329,118)	483,016	(5,207)	74,744
Beginning balance, shares at Mar. 31, 2024			58,792,845	30,244,211
Shares issued under the ESPP			21,903
Issuance of common stock from employee stock purchase plan		563			563
Issuance of common stock from restricted stock awards, shares			2,000
Stock-based compensation expense		11,343			11,343
Unrealized gain (loss) on investments		9				9
Unrealized gain (loss) on foreign currency exchange		89				89
Net Income (Loss)		1,312					1,312
Ending balance at Jun. 30, 2024		236,810	$ 59	$ (329,118)	494,922	(5,109)	76,056
Ending balance, shares at Jun. 30, 2024			58,816,748	30,244,211
Issuance of common stock from restricted stock awards, shares			662,506
Impact of net settlements		(197)			(197)
Impact of net settlements, shares			750	750
Stock-based compensation expense		9,746			9,746
Unrealized gain (loss) on investments		766				766
Unrealized gain (loss) on foreign currency exchange		4,067				4,067
Net Income (Loss)		(1,716)					(1,716)
Ending balance at Sep. 30, 2024		$ 249,476	$ 59	$ (329,118)	$ 504,471	$ (276)	$ 74,340
Ending balance, shares at Sep. 30, 2024			59,480,004	30,244,961
[1] Includes $ 1.9 million of accrued compensation expense recognized in the previous year for the nine months ended September 30, 2023 .

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Statement of Stockholders' Equity [Abstract]
Accrued compensation expense	$ 1.9

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net income (loss)	$ (10,492)	$ 6,062
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	10,762	9,035
Amortization	6,637	6,568
Provision for bad debt	(1,125)	2,003
Stock-based compensation	32,548	36,486
Amortization of debt issuance costs	1,653	1,850
Deferred tax benefit	3,314	(2,137)
Gain on early extinguishment of debt	0	(5,033)
Changes in operating assets and liabilities:
Accounts receivable	(9)	15,055
Operating lease assets with right of use	2,098	1,594
Prepaid expenses and other current assets	(5,160)	166
Other assets	0	(100)
Accounts payable	1,286	1,616
Income taxes payable	202	(4,336)
Accrued expenses and other current liabilities	(972)	(2,147)
Accrued compensation expenses	459	(1,380)
Operating lease liabilities with right of use	(2,786)	(2,435)
Contract liabilities	2,530	(9,067)
Net cash provided by operating activities	40,945	53,800
Investing activities:
Purchases of property and equipment, and other capitalized assets, net	(12,572)	(10,906)
Purchases of investments	(3,383)	(77,261)
Maturities of investments	26,649	0
Net cash provided by (used in) investing activities	10,694	(88,167)
Financing activities:
Tax withholdings related to net share settlements	(336)	(4,551)
Purchase of treasury shares and related costs	0	(50,000)
Proceeds from stock option exercises	0	18
Issuance of common stock from ESPP	563	650
Payment of repurchase of convertible senior notes	0	(42,560)
Payment of earnout liabilities	0	(2,267)
Net cash provided by (used in) financing activities	227	(98,710)
Effect of exchange rate changes on cash and cash equivalents	(15)	660
Net increase (decrease) in cash and cash equivalents	51,851	(132,417)
Cash and cash equivalents at beginning of period	226,668	344,523
Cash and cash equivalents at end of period	278,519	212,106
Supplemental disclosure of cash flow information:
Cash paid for taxes, net	5,506	15,444
Schedule of non-cash investing and financing activities:
Right of use assets and lease liabilities	$ 26	$ 492

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (1,716)	$ 1,312	$ (10,088)	$ 1,742	$ 2,675	$ 1,645	$ (10,492)	$ 6,062

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Organization and Operations

Organization and Operations	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	1. Organization and Operations TechTarget, Inc. (collectively with its subsidiaries, the “Company”) is a global data and analytics leader and software provider for buyers of purchase intent-driven marketing and sales data for enterprise technology vendors. The Company’s service offerings are designed to enable technology vendors to better identify, reach and influence corporate information technology (“IT”) decision-makers actively researching specific IT purchases. The Company offers products and services intended to improve IT vendors’ ability to impact these audiences for business growth using advanced targeting, analytics and data services complemented by customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation. The Company operates a network of approximatel y 150 websites and 838 webinars and virtual event channels, which each focus on a specific IT sector such as storage, security or networking. IT and business professionals have become increasingly specialized, and they have come to rely on the Company’s sector-specific websites and webinars and virtual event channels for purchasing decision support. The Company’s content platforms are designed to enable IT and business professionals to navigate the complex and rapidly changing IT landscape where purchasing decisions can have significant financial and operational consequences. At critical stages of the purchase decision process, these content offerings through different channels are intended to meet IT and business professionals’ needs for expert, peer and IT vendor information and provide platforms on which business-to-business technology companies can launch targeted marketing campaigns which generate measurable return on investment. Based upon the logical clustering of members and users’ respective job responsibilities and the marketing focus of the products being promoted by the Company’s customers, the Company categorizes its content offerings to address the key market opportunities and audience extensions across a portfolio of distinct market categories: Security; Networking; Storage; Data Center and Virtualization Technologies; CIO/IT Strategy; Business Applications and Analytics; Application Architecture and Development; and ANCL Channel. On January 10, 2024, we entered into an Agreement and Plan of Merger (the “Transaction Agreement”) with Informa PLC (“Informa”) and certain of our and their subsidiaries. Pursuant to the Transaction Agreement, we and Informa, among other things, agreed to combine our businesses with the business of Informa Intrepid Holdings Inc. (“Informa Tech”), a wholly owned subsidiary of Informa which will own and operate Informa’s digital businesses (Industry Dive, Omdia (including Canalys)), NetLine and certain of its digital media brands (e.g. Information Week, Light Reading, and AI Business), under a new publicly traded holding company (“New TechTarget”). Upon closing, among other things, Informa and its subsidiaries will collectively own 57 % of the outstanding common stock of New TechTarget (on a fully diluted basis) and our former stockholders will own the remaining outstanding common stock of New TechTarget. Our former stockholders will also receive a pro rata share of an amount in cash equal to $ 350 million plus the amount of any EBITDA adjustment (which has been determined to be $ 0 based upon the terms of the Transaction Agreement), which is estimated as of the date of the Transaction Agreement to be approximately $ 11.71 per share of our common stock. The various transactions set forth in the Transaction Agreement (the “proposed transaction”) are expected to close in the last quarter of 2024, subject to satisfaction or waiver of certain customary conditions. A special meeting will be held on November 26, 2024, at 10:00 a.m., Eastern Time at the offices of Wilmer Cutler Pickering Hale and Dorr LLP, 60 State Street, Boston, Massachusetts 02109 for TechTarget stockholders of record as of the close of business on October 18, 2024, the record date (the “Special Meeting”). At the Special Meeting, the Company’s stockholders will be asked to consider and vote upon proposals to approve the proposed transaction and related matters. We will be required to pay Informa a termination fee between $ 30.0 and $ 40.0 million if the Transaction Agreement is terminated under certain specified circumstances, including termination by us in connection with our entry into an agreement with respect to a Toro Superior Proposal (as defined in the Transaction Agreement) prior to us receiving stockholder approval of the proposed transaction, or termination by Informa upon a Toro Change in Recommendation (as defined in the Transaction Agreement).

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The accompanying condensed consolidated financial statements reflect the application of certain significant accounting policies as described below and elsewhere in these notes to condensed consolidated financial statements. The Company’s critical accounting policies are those that affect its more significant judgments used in the preparation of its condensed consolidated financial statements. A description of the Company’s critical accounting policies and estimates is contained in its Annual Report on Form 10-K for the year ended December 31, 2023, and in this note to the condensed consolidated financial statements. Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, TechTarget Securities Corporation (“TSC”), TechTarget Limited, TechTarget (HK) Limited (“TTGT HK”), TechTarget (Australia) Pty Ltd., TechTarget (Singapore) Pte Ltd., E-Magine Médias SAS (“LeMagIT”), TechTarget Germany GmbH, and BrightTALK Limited and its wholly owned subsidiary, BrightTALK, Inc. (together “BrightTALK”). TSC is a Massachusetts corporation. TechTarget Limited is a subsidiary doing business principally in the United Kingdom. TTGT HK is a subsidiary incorporated in Hong Kong in order to facilitate the Company’s activities in the Asia-Pacific region. TechTarget (Australia) Pty Ltd. and TechTarget (Singapore) Pte Ltd. are the entities through which the Company does business in Australia and Singapore, respectively; LeMagIT and TechTarget Germany GmbH, both wholly-owned subsidiaries of TechTarget Limited, are entities through which the Company does business in France and Germany, respectively. BrightTALK are the entities through which the Company conducts business related to its BrightTALK webinar and virtual event platform. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted (Generally Accepted Accounting Principles or “U.S. GAAP”) in the United States (“U.S.”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. All adjustments, which, in the opinion of management, are considered necessary for a fair presentation of the results of operations for the periods shown, are of a normal, recurring nature and have been reflected in the condensed consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of results to be expected for any other interim periods or for the full year. The information included in these condensed consolidated financial statements should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in this report and the condensed consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 . Forei gn Currency Translation The functional currency of the Company’s major foreign subsidiaries is generally the local currency. Adjustments resulting from translating foreign functional currency financial statements into U.S. dollars are recorded as a separate component on the Condensed Consolidated Statement of Comprehensive Income as an element of accumulated other comprehensive income (loss). Foreign currency transaction gains and losses are included in interest and other income (expense), net in the Condensed Consolidated Statement of Income. All assets and liabilities denominated in foreign currency are translated into U.S. dollars at the exchange rate on the balance sheet date. Revenue and expenses are translated at the average exchange rate during the period. Use of Estimate s The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including those related to revenue, long-lived assets, goodwill, the allowance for doubtful accounts, stock-based compensation, earnouts, self-insurance accruals, the allocation of purchase price to intangibles and goodwill, and income taxes. The Company reduces its accounts receivable for an allowance for doubtful accounts based on its best estimate of the amount of probable credit losses. Estimates of the carrying value of certain assets and liabilities are based on historical experience and on various other assumptions that the Company believes to be reasonable. Actual results could differ from those estimates. Revenue Recognition The Company generates its revenue from the sale of targeted marketing and advertising campaigns, which it delivers via its network of websites, webinar and virtual events channels, and our data analytic services and solutions. Revenue is recognized when performance obligations are satisfied by transferring promised goods or services to customers, as determined by applying a five-step process consisting of: a) identifying the contract, or contracts, with a customer, b) identifying the performance obligations in the contract, c) determining the transaction price, d) allocating the transaction price to the performance obligations in the contract, and e) recognizing revenue when, or as, performance obligations are satisfied. Cash and Cash Equivalents The Company considers all highly liquid investments with original or remaining maturities of three months or less on the purchase date to be cash equivalents. Cash and cash equivalents carrying value approximate fair value and consist primarily of bank deposits and government backed money market funds. Accounts Receivable We maintain an allowance for credit losses for expected uncollectible accounts receivable, which is recorded as an offset to accounts receivable and changes in such are classified as general and administrative expense in the Condensed Consolidated Statements of Income and Comprehensive Income. We assess collectability by reviewing accounts receivable on an individual basis when we identify specific customers with known disputes, overdue amounts or collectability issues and also reserve for losses on all accounts based on historical information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. In determining the amount of the allowance for credit losses, we consider historical collectability based on past due status and make judgments about the creditworthiness of customers based on ongoing credit evaluations. At September 30, 2024 , the Company’s collectability assessment includes the business and market disruptions caused by macro-economic uncertainty currently being experienced in the technology sector and estimates of expected emerging credit and collectability trends. The continued volatility in market conditions and evolving shifts in credit trends are difficult to predict, causing variability and volatility that may have a material impact on our allowance for credit losses in future periods. Fair Value of Financial Instruments Financial instruments consist of cash, cash equivalents, short-term investments, accounts receivable, accounts payable, long-term debt and contingent consideration. Due to their short-term nature and liquidity, the carrying value of these instruments, with the exception of contingent consideration and long-term debt, approximates their estimated fair values. See Note 4 for further information on the fair value of the Company’s investments. The Company classifies all of its short-term investments as available-for-sale. The fair value of contingent consideration was estimated using a discounted cash flow method. Business Combinations and Valuation of Goodwill and Acquired Intangible Assets The Company uses its best estimates and assumptions to allocate fair value to the net tangible and identifiable intangible assets acquired and liabilities assumed at the acquisition date. Any residual purchase price is recorded as goodwill. The Company’s estimates are inherently uncertain and subject to refinement and can include but are not limited to, the cash flows that an asset is expected to generate in the future, and the appropriate weighted-average cost of capital. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions and tax-related valuation allowances are initially recorded in connection with a business combination as of the acquisition date. The Company continues to collect information and reevaluates these estimates and assumptions quarterly and records any adjustments to the Company’s preliminary estimates to goodwill provided that the Company is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s Condensed Consolidated Statement of Income and Comprehensive Income. Recen t Accounting Pronouncements Recently Adopted Accounting Guidance In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-07.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2024
Revenue Recognition [Abstract]
Revenue	3. Revenue Disaggregation of Revenue The following table depicts the disaggregation of revenue according to categories consistent with how the Company evaluates its financial performance and economic risk. International revenue consists of international geo-targeted campaigns, which are campaigns targeted at an audience of members outside of North America. For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 North America $ 41,544 $ 38,891 $ 118,224 $ 115,629 International 16,928 18,237 50,798 57,042 Total $ 58,472 $ 57,128 $ 169,022 $ 172,671 For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 Revenue under short-term contracts $ 39,154 $ 36,560 $ 112,631 $ 105,290 Revenue under longer-term contracts 19,318 20,568 56,391 67,381 Total $ 58,472 $ 57,128 $ 169,022 $ 172,671 Contract Liabilities Timing may differ between the satisfaction of performance obligations and the invoicing and collections of amounts related to the Company’s contracts with customers. Liabilities are recorded for amounts that are collected in advance of the satisfaction of performance obligations. Additionally, certain customers may receive credits, which are accounted for as a material right. The Company estimates these amounts based on the expected amount of future services to be provided to the customer and allocates a portion of the transaction price to these material rights. The Company recognizes these material rights as the material rights are exercised. The resulting material rights amounts included in the contract liabilities on the accompanying Condensed Consolidated Balance Sheets was $ 0.8 million and $ 1.9 million at September 30, 2024 and December 31, 2023, respectively. Contract Liabilities Year-to-Date Activity Balance at December 31, 2023 $ 14,721 Billings 54,290 Revenue Recognized ( 51,636 ) Balance at March 31, 2024 $ 17,375 Billings $ 59,986 Revenue Recognized ( 58,914 ) Balance at June 30, 2024 $ 18,447 Billings $ 57,379 Revenue Recognized ( 58,472 ) Balance at September 30, 2024 $ 17,354 The Company elected to apply the following practical expedients: • Existence of a Significant Financing Component in a Contract . As a practical expedient, the Company has not assessed whether a contract has a significant financing component because the Company expects at contract inception that the period between payment by the customer and the transfer of promised goods or services by the Company to the customer will be one year or less. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 90 days. In addition, the Company has determined that the payment terms that the Company provides to its customers are structured primarily for reasons other than the provision of financing to the customer. • Costs to Fulfill a Contract . The Company’s revenue is primarily generated from customer contracts that are for one year or less. Costs primarily consist of incentive compensation paid based on the achievement of sales targets. As a practical expedient, for amortization periods that are determined to be one year or less, the Company expenses any incremental costs of obtaining the contract with a customer when incurred. For those customer contracts greater than one year, the Company capitalizes and amortizes the expenses over the period of benefit. • Revenue Invoiced . The Company has applied the practical expedient for certain revenue streams to exclude the value of remaining performance obligations for (i) contracts with an original expected term of one year or less or (ii) contracts for which the Company recognizes revenue in proportion to the amount it has the right to invoice for services performed.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. Fair Value Measurements The Company measures certain financial assets and liabilities at fair value on a recurring basis, including short-term investments. The fair value of these financial assets and liabilities was determined based on three levels of input as follows: • Level 1. Quoted prices in active markets for identical assets and liabilities; • Level 2. Observable inputs other than quoted prices in active markets; and • Level 3. Unobservable inputs. The fair value hierarchy of the Company’s financial assets carried at fair value and measured on a recurring basis is as follows: Fair Value Measurements at September 30, Quoted Prices Significant Significant Assets: Pooled bond funds $ 77,310 — $ 77,310 — Total short-term investments $ 77,310 $ — $ 77,310 $ — Fair Value Measurements at December 31, 2023 Quoted Prices Significant Significant Assets: Time deposits (1) $ 25,877 $ — $ 25,877 $ — Pooled bond funds 73,724 — 73,724 — Total short-term investments $ 99,601 $ — $ 99,601 $ — (1) The Company ’ s time deposits consist of domestic deposits which mature within six months (Level 2). All level 2 investments are priced using observable inputs, such as quoted prices in markets that are not active and yield curves.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Short-Term Investments	5. Cash, Cash Equivalents and Short-Term Investments Cash and cash equivalents are carried at cost, which approximates fair market value. As of September 30, 2024 and December 31, 2023, cash and cash equivalents totaled $ 278.5 million and $ 226.7 million, respectively. Investments are recorded at fair value with the related unrealized gains and losses included in accumulated other comprehensive income, a component of stockholders’ equity, net of tax. Realized gains and losses on the sale of these investments are determined using the specific identification method. There were no realized gains or losses as of September 30, 2024 or December 31, 2023. Short-term investments consisted of the following: September 30, 2024 Adjusted Gross Gross Estimated Short-term investments: Pooled bond funds $ 75,632 $ 1,678 $ — $ 77,310 Total short-term investments $ 75,632 $ 1,678 $ — $ 77,310 December 31, 2023 Adjusted Gross Gross Estimated Short-term investments: Time deposits $ 25,877 $ — $ — $ 25,877 Pooled bond funds 73,021 703 — 73,724 Total short-term investments $ 98,898 $ 703 $ — $ 99,601

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	6. Goodwill and Intangible Assets Goodwill and indefinite-lived intangible assets are not amortized but are reviewed annually for impairment or more frequently if impairment indicators arise. The Company did no t have any intangible assets with indefinite lives other than goodwill as of September 30, 2024 or December 31, 2023 . There were no indications of impairment as of September 30, 2024, and the Company believes that, as of the balance sheet dates presented, none of the Company’s goodwill or intangible assets were impaired. The following table summarizes the Company’s intangible assets, net: September 30, 2024 Estimated Gross Accumulated Net Customer relationships 5 - 19 $ 85,432 $ ( 25,688 ) $ 59,744 Developed websites, technology and patents 10 34,695 ( 13,767 ) 20,928 Trademark, trade name and domain name 5 - 16 7,873 ( 3,867 ) 4,006 Proprietary user information database and internet traffic 5 1,128 ( 1,128 ) — Non-compete agreements 1.5 - 3 600 ( 523 ) 77 Total intangible assets $ 129,728 $ ( 44,973 ) $ 84,755 December 31, 2023 Estimated Gross Accumulated Net Customer relationships 5 - 19 $ 83,959 $ ( 21,604 ) $ 62,355 Developed websites, technology and patents 10 33,202 ( 10,802 ) 22,400 Trademark, trade name and domain name 5 - 16 7,627 ( 3,365 ) 4,262 Proprietary user information database and internet traffic 5 1,106 ( 1,106 ) — Non-compete agreements 1.5 - 3 600 ( 454 ) 146 Total intangible assets $ 126,494 $ ( 37,331 ) $ 89,163 Intangible assets are amortized over their estimated useful lives, which range from eighteen months to nineteen years , using methods of amortization that are expected to reflect the estimated pattern of economic use. The remaining amortization expense will be recognized over a weighted-average period of approximately 6.1 years. Amortization expense was $ 6.6 million for both the nine months ended September 30, 2024 and 2023, respectively. Amortization expense relating to developed websites, technology and patents is recorded within costs of revenues. All other amortization is recorded within operating expenses as the remaining intangible assets consist of customer-related assets which generate web site traffic that the Company considers to be in support of selling and marketing activities. The Company did no t write off any fully amortized intangible assets in the first nine months of 2024 or 2023. The Company expects amortization expense of intangible assets to be as follows: Years Ending December 31: Amortization 2024 (October 1 – December 31) $ 2,269 2025 9,038 2026 8,984 2027 8,979 2028 8,979 Thereafter 46,506 Total $ 84,755

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	7. Net Income (Loss) Per Common Share A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per common share is as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Numerator: Net income (loss) $ ( 1,716 ) $ 1,742 $ ( 10,492 ) $ 6,062 Denominator: Basic: Weighted average shares of common stock and vested, undelivered restricted stock units outstanding 28,867,873 28,073,459 28,646,451 28,295,306 Diluted: Weighted average shares of common stock and vested, undelivered restricted stock units outstanding 28,867,873 28,073,459 28,646,451 28,295,306 Effect of potentially dilutive shares (1) — 132,877 — 188,314 Total weighted average shares of common stock and vested, undelivered restricted stock units outstanding and potentially dilutive shares 28,867,873 28,206,336 28,646,451 28,483,620 Net Income (Loss) Per Common Share: Basic: Net income (loss) applicable to common stockholders $ ( 1,716 ) $ 1,742 $ ( 10,492 ) $ 6,062 Weighted average shares of stock outstanding 28,867,873 28,073,459 28,646,451 28,295,306 Basic net income (loss) per common share $ ( 0.06 ) $ 0.06 $ ( 0.37 ) $ 0.21 Diluted: Net income (loss) applicable to common stockholders $ ( 1,716 ) $ 1,742 $ ( 10,492 ) $ 6,062 Weighted average shares of stock outstanding 28,867,873 28,206,336 28,646,451 28,483,620 Diluted net income (loss) per common share (1) $ ( 0.06 ) $ 0.06 $ ( 0.37 ) $ 0.21 (1) In calculating diluted net income (loss) per share, 641 thousand shares and 585 thousand shares related to outstanding stock options and unvested, undelivered restricted stock units were excluded for the three and nine months ended September 30, 2024, respectively; 1.3 million shares and 1.4 million shares related to outstanding stock options and unvested, undelivered restricted stock units were excluded for the three and nine months ended September 30, 2023, respectively. Additionally, for the three and nine months ended September 30, 2024 and September 30, 2023, the interest expense and amortization of note costs relating to the shares issuable upon conversion of our outstanding convertible notes were excluded from the calculation as they would have been anti-dilutive. The interest expense including amortization of note issuance costs, related to convertible notes was $ 0.6 million and $ 1.7 million for the three and nine months September 30, 2024, respectively, and $ 0.6 million and $ 1.9 million for the three and nine months ended September 30 2023, respectively.

Convertible Notes and Loan Agre

Convertible Notes and Loan Agreement	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Convertible Notes and Loan Agreement	8. Convertible Notes and Loan Agreement Convertible Notes In December 2020, the Company issued $ 201.3 million in aggregate principal amount of 0.125 % convertible senior notes due December 15, 2025 (the “2025 Notes”) and in December 2021, the Company issued $ 414 million in aggregate principal amount of 0.0 % convertible senior notes due December 15, 2026 (the “2026 Notes”). At the time of the issuance of the 2026 Notes, a portion of the outstanding 2025 Notes were exchanged for shares of common stock and cash. In August 2023, the Company repurchased $ 48.3 million aggregate principal amount of the 2025 Notes for $ 42.6 million including transaction fees. As of September 30, 2024 , approximately $ 3 million aggregate principal amount of the 2025 Notes remain outstanding. Further details are included below: Issuance Maturity Date Interest Rate First Interest Payment Date Effective Interest Rate Semi-Annual Interest Payment Dates Initial Conversion Rate per $1,000 Principal Initial Conversion Price Number of Shares (in millions) 2025 Notes December 15, 2025 0.125 % June 15, 2021 0.8 % June 15, and December 15 14.1977 $ 70.43 0.1 2026 Notes December 15, 2026 0.0 % –– 0.0 % –– 7.6043 $ 131.50 4.3 Each of the 2025 Notes and the 2026 Notes (collectively, the “Notes”) is governed by an indenture between the Company, as issuer, and U.S. Bank, National Association, as trustee (together the “Indentures”, and each such indenture, an “Indenture”). The Notes are unsecured and rank senior in right of payment to the Company’s future indebtedness that is expressly subordinated in right of payment to the Notes and equal in right of payment to the Company’s unsecured indebtedness that is not so subordinated. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of common stock, at the Company’s election. Terms of the Notes Prior to the close of business on September 15, 2025 and September 14, 2026, the 2025 Notes and 2026 Notes, respectively, will be convertible at the option of holders during certain periods, only upon satisfaction of certain conditions set forth below. On or after September 15, 2025 (for the 2025 Notes) and September 14, 2026 (for the 2026 Notes), until the close of business on the second scheduled trading day immediately preceding the applicable maturity date, holders may convert all or any portion of their Notes at the applicable conversion price at any time regardless of whether the conditions set forth below have been met. Holders may convert all or a portion of their Notes prior to the close of business on the day immediately preceding their respective free convertibility date described above, in multiples of the $ 1,000 principal amount, only under the following circumstances : • during any calendar quarter commencing after the calendar quarter ending on March 31, 2021 for the 2025 Notes and March 31, 2022 for the 2026 Notes (and only during such calendar quarter), if the last reported sales price of the common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130 % of the applicable conversion price on each applicable trading day; • during the five business day period after any five consecutive trading day period, or the Notes measurement period, in which the “trading price” (as defined in each Indenture) per $ 1,000 principal amount of Notes for each trading day of the Notes measurement period was less than 98 % of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; • if the Company calls any or all of the Notes for redemption, at any time prior to the close of business on September 14, 2025 for the 2025 Notes or September 14, 2026 for the 2026 Notes; or • upon the occurrence of specified corporate events as set forth in the Indentures. As of September 30, 2024, the 2026 Notes and 2025 Notes are not convertible. Whether the 2026 Notes or the 2025 Notes will be convertible in the future prior to the applicable free convertibility date will depend on the satisfaction of the trading price condition or another conversion condition specified in the Indentures. Since the Company may elect to repay the 2026 Notes and the 2025 Notes in cash, shares of our common stock, or a combination of both, the Company has continued to classify the 2026 and the 2025 Notes as long-term debt on its consolidated balance sheet as of September 30, 2024. The Notes consist of the following: September 30, 2024 December 31, 2023 Liability Component: 2026 Notes 2025 Notes 2026 Notes 2025 Notes Principal $ 414,000 $ 3,040 $ 414,000 $ 3,040 Less: unamortized debt issuance costs 4,861 25 6,500 40 Net carrying amount $ 409,139 $ 3,015 $ 407,500 $ 3,000 The following table sets forth total interest expense recognized related to the Notes: September 30, 2024 September 30, 2023 0.125% Coupon on 2025 Notes $ 3 $ 42 Amortization of debt discount and transaction costs 1,653 2,598 $ 1,656 $ 2,640 The fair value of the Notes, which was determined based on inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, quoted prices of the Notes in an over-the-counter market (Level 2), and carrying value of debt instruments (carrying value excludes the equity component of the Company’s convertible notes classified in equity) were as follows: September 30, 2024 December 31, 2023 Fair Value Carrying Value Fair Value Carrying Value Convertible senior notes $ 407,117 $ 412,154 $ 347,087 $ 410,500 2021 Loan Agreement On October 29, 2021, the Company entered into a Loan and Security Agreement with Western Alliance Bank, as administrative agent and collateral agent for the lenders, and the banks and other financial institutions or entities from time to time party thereto as lenders (the “2021 Loan Agreement”). The 2021 Loan Agreement provided for a $ 75 million revolving credit facility with a $ 5 million letter-of-credit sublimit and expired on October 29, 2023 . The 2021 Loan Agreement was secured by substantially all of the Company’s assets. Borrowings under the 2021 Loan Agreement bore interest based on a formula using certain market rates. Th e 2021 Loan Agreement was subject to various leverage and non-financial covenants. The 2021 Loan Agreement matured on its stated maturity date of October 29, 2023.

Leases and Contingencies

Leases and Contingencies	9 Months Ended
	Sep. 30, 2024
Lessee Disclosure [Abstract]
Leases and Contingencies	9. Leases and Contingencies The Company conducts its operations in leased office facilities under various noncancelable operating lease agreements that expire through December 2029. On October 26, 2017, the Company entered into a Third Amendment (the “Third Amendment”) to the lease agreement for office space in Newton, Massachusetts, dated as of August 4, 2009 (the “Newton Lease”). The Third Amendment extended the lease term to December 31, 2029 and preserves the Company’s option to extend the term for an additional five-year period subject to certain terms and conditions set forth in the Newton Lease. The Third Amendment reduced the rentable space from approximately 110,000 square feet to approximately 74,000 square feet effective January 1, 2018 . As of January 1, 2018, base monthly rent under the Third Amendment is $ 0.3 million. The base rent increases biennially at a rate averaging approximately 1 % per year, as of January 1, 2023. The Company remains responsible for certain other costs under the Third Amendment, including operating expense and taxes. In April 2021, the Company entered into a Fourth Amendment (the “Fourth Amendment”) to the lease agreement. The Fourth Amendment became effective during May 2021 . The Fourth Amendment reduced the rentable space from approximately 74,000 square feet to approximately 68,000 square feet and provided the Company with a one-time payment of approximately $ 0.6 million. As of May 1, 2021, base monthly rent is approximately $ 0.3 million per month. All other terms and conditions are substantially similar to those terms in the Third Amendment. Certain of the Company’s operating leases, including the Newton Lease, include lease incentives and escalating payment amounts and are renewable for varying periods. The Company recognizes the related rent expense on a straight-line basis over the term of each lease, taking into account the lease incentives and escalating lease payments. The Company has various non-cancelable lease agreements for certain of its offices with original lease periods expiring between 2024 and 2029. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain it will exercise that option. Leases with renewal options allow the Company to extend the lease term typically between 1 and 5 years . When determining the lease term, renewal options reasonably certain of being exercised are included in the lease term. When determining if a renewal option is reasonably certain of being exercised, the Company considers several economic factors, including but not limited to, the significance of leasehold improvements incurred on the property, whether the asset is difficult to replace, underlying contractual obligations, or specific characteristics unique to that particular lease that would make it reasonably certain that the Company would exercise such option. Renewal and termination options were generally not included in the lease term for the Company’s existing operating leases. Certain of the arrangements have discounted rent periods or escalating rent payment provisions. Leases with an initial term of twelve months or less are not recorded on the condensed consolidated balance sheets. The Company recognizes rent expense on a straight-line basis over the lease term. As of September 30, 2024, operating lease assets were $ 14.6 million and operating lease liabilities were $ 17.5 million. The maturities of the Company’s operating lease liabilities as of September 30, 2024 were as follows: Minimum Lease Years Ending December 31: Payments 2024 (October 1 – December 31) $ 1,223 2025 4,115 2026 4,017 2027 3,582 2028 3,405 Thereafter 3,333 Total future minimum lease payments 19,675 Less imputed interest 2,186 Total operating lease liabilities $ 17,489 Included in the Consolidated Balance Sheet: Current operating lease liability $ 3,556 Non-current operating lease liability 13,933 Total operating lease liabilities $ 17,489 For the nine months ended September 30, 2024 and 2023, the total lease cost was comprised of the following amounts: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease expense $ 1,046 $ 1,058 $ 3,101 $ 3,162 Short-term lease expense 4 4 13 13 Total lease expense $ 1,050 $ 1,062 $ 3,114 $ 3,175 The following summarizes additional information related to operating leases as of September 30, 2024: As of September 30, 2024 Weighted-average remaining lease term — operating leases 3.0 Weighted-average discount rate — operating leases 3.4 % If the rate implicit in the lease is not readily determinable, the Company uses its incremental borrowing rate as the discount rate. The Company uses its best judgment when determining the incremental borrowing rate, which is the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term to the lease payments in a similar currency. Litigation Following the announcement of the execution of the Merger Agreement, two lawsuits have been filed in the Supreme Court of the State of New York by purported stockholders of the Company, each naming the Company and the members of its board of directors as defendants (the “ Complaints ”). The first action is captioned Catherine Coffman v. TechTarget, Inc. et al., 655891/2024, and was filed on November 7, 2024. The second action is captioned Susan Finger v. TechTarget, Inc. et al., 655885/2024, and was also filed on November 7, 2024. The Complaints claim that the Definitive Proxy Statement is materially incomplete and misleading in violation of New York common law. In particular, the Complaints generally allege that the Definitive Proxy Statement contains materially misleading and incomplete information concerning, among other things: (i) the Company’s, Informa Tech’s, and the pro forma company’s financial projections; (ii) the data and inputs underlying the financial analyses of the Company’s financial advisor, J.P. Morgan Securities LLC (“ J.P. Morgan ”); and (iii) potential conflicts of interest between Company insiders and BrightTower Securities, LLC (“ BrightTower ”). The Complaints also seek to enjoin the transaction, rescind the transaction should it be consummated or an award of damages if the transaction is consummated, and an award of fees and expenses. The Company has also received correspondence from law firms claiming to represent purported stockholders, who have threatened litigation and/or made other demands relating to the Merger, including that additional disclosures be provided (the “ Litigation Matters ”). The Company cannot predict whether any of such demands or threats will result in litigation, whether additional demands or litigation may materialize, or the outcome of any such litigation relating to the Merger. If additional similar complaints are filed or additional demands are received, absent new or materially different allegations, the Company will not necessarily disclose them. The Company and other named defendants in the Complaints deny that they have violated any laws or breached any duties to the Company’s stockholders, and the Company denies all allegations in the Litigation Matters. The Company believes that no supplemental disclosure to the Definitive Proxy Statement was or is required under any applicable law, rule or regulation. However, solely to eliminate the burden and expense of litigation, to moot the plaintiff’s disclosure claims, and to avoid potential delay or disruption to the Merger, the Company has determined to voluntarily supplement the Definitive Proxy Statement. The Company believes that the disclosures set forth in the Definitive Proxy Statement comply fully with applicable law, and nothing shall otherwise be deemed an admission of the legal necessity or materiality under applicable law of any of the disclosures set forth herein. From time to time and in the ordinary course of business, the Company may be subject to various claims, charges, and litigation. Except as otherwise provided in this note 9, the Company did not have any pending or threatened claims, charges, or litigation that it expects would have a material adverse effect on its condensed consolidated financial position, results of operations, or cash flows.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	10. Stock-Based Compensation Stock Option and Incentive Plans In April 2007, the Company’s board of directors approved the TechTarget, Inc. 2007 Stock Option and Incentive Plan (the “2007 Plan”), which was approved by the stockholders of the Company and became effective upon the consummation of the Company’s IPO in May 2007. The 2007 Plan allowed the Company to grant incentive stock options (“ISOs”), non-qualified stock options (“NSOs”), stock appreciation rights, deferred stock awards, restricted stock units and other awards. Under the 2007 Plan, stock options could not be granted at less than fair market value on the date of grant and grants generally vested over a three-year to four-year period. Stock options granted under the 2007 Plan expire no later than ten years after the grant date. Additionally, beginning with awards made in August 2015, the Company had the option to direct a net issuance of shares for satisfaction of tax liability with respect to vesting of awards and delivery of shares. Prior to August 2015, this choice of settlement method was solely at the discretion of the award recipient. The 2007 Plan expired in May 2017 . No new awards may be granted under the 2007 Plan; however, the shares of common stock remaining in the 2007 Plan are available for issuance in connection with previously awarded grants under the 2007 Plan. There are 20,000 shares of common stock that remain subject to outstanding stock grants under the 2007 Plan as of September 30, 2024. In March 2017, the Company’s board of directors approved the TechTarget, Inc. 2017 Stock Option and Incentive Plan (the “2017 Plan”), which was approved by the stockholders of the Company at the 2017 Annual Meeting and became effective June 16, 2017 . The 2017 Plan replaces the Company’s 2007 Plan. On June 16, 2017, 3,000,000 shares of the Company’s common stock were reserved for issuance under the 2017 Plan and, generally, shares that are forfeited or canceled from awards under the 2017 Plan also will be available for future awards. In April 2021, the stockholders of the Company authorized the issuance of up to an additional 3,800,000 shares of the Company’s common stock under the 2017 Plan. Under the 2017 Plan, the Company may grant restricted stock and restricted stock units, non-qualified stock options, stock appreciation rights, performance awards, and other stock-based and cash-based awards. Grants generally vest in equal tranches over a three-year period. Stock options granted under the 2017 Plan expire no later than ten years after the grant date. Shares of stock issued pursuant to restricted stock awards are restricted in that they are not transferable until they vest. Shares of stock underlying awards of restricted stock units are not issued until the units vest. Non-qualified stock options cannot be exercised until they vest. Under the 2017 Plan, all stock options and stock appreciation rights must be granted with an exercise price that is at least equal to the fair market value of the common stock on the date of grant. The 2017 Plan broadly prohibits the repricing of options and stock appreciation rights without stockholder approval and requires that no dividends or dividend equivalents be paid with respect to options or stock appreciation rights. The 2017 Plan further provides that, in the event any dividends or dividend equivalents are declared with respect to restricted stock, restricted stock units, other stock-based awards and performance awards (referred to as “full-value awards”), such dividends or dividend equivalents would be subject to the same vesting and forfeiture provisions as the underlying award. There are a total of 1,675,300 shares of common stock that remain subject to outstanding stock-based grants under the 2017 Plan as of September 30, 2024 . A total of 918,328 shares of common stock remain available for issuance under the 2017 Plan as of September 30, 2024. Employee Stock Purchase Plan In April 2022, the Company’s board of directors approved the TechTarget, Inc. 2022 Employee Stock Purchase Plan (the “ESPP”), which was approved by the stockholders of the Company at the 2022 Annual Meeting of Stockholders and became effective June 7, 2022. On June 7, 2022, 600,000 shares of the Company’s common stock were reserved for issuance under the ESPP. After the initial offering period of three months, commencing September 1, 2022, eligible employees may be offered shares of common stock over a twelve-month offering period, which consists of two consecutive six-month purchase periods. Employees may purchase a limited amount (up to $ 25,000 ) of shares of the Company’s common stock under the ESPP at a discount of up to 15 % of the lesser of the market value of the common stock at either (a) the beginning of the six-month purchase period during which the shares of common stock are purchased or (b) the end of such six-month purchase period. As of September 30, 2024, 523,653 shares of common stock remain available for issuance under the ESPP. Accounting for Stock-Based Compensation The Company uses the Black-Scholes option pricing model to calculate the grant date fair value of an award. The expected volatility of options granted has been determined using a weighted average of the historical volatility of the Company’s common stock for a period equal to the expected life of the option. The expected life of options has been determined utilizing the “simplified” method. The risk-free interest rate is based on a zero coupon U.S. treasury instrument whose term is consistent with the expected life of the stock options. The Company has not paid and does not anticipate paying cash dividends on its shares of common stock; therefore, the expected dividend yield is assumed to be zero . The Company applied an estimated annual forfeiture rate based on historical averages in determining the expense recorded in each period. A summary of the stock option activity under the Company’s plans for the nine months ended September 30, 2024 is presented below: Nine Month Activity Options Weighted- Weighted- Aggregate (1) Options outstanding at December 31, 2023 140,000 $ 38.22 — — Granted 25,000 30.21 — — Exercised — — — — Forfeited — — — — Cancelled — — — — Options outstanding at September 30, 2024 165,000 $ 37.01 6.21 $ 495,575 Options exercisable at September 30, 2024 140,000 $ 38.22 5.60 $ 495,575 Options vested or expected to vest at September 30, 2024 163,675 $ 37.07 6.19 $ 495,575 (1) The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s common stock on September 30, 2024 of $ 24.45 per share and the exercise price of the underlying options . The total intrinsic value of options exercised was $ 0 and $ 81 thousand during the nine months ended September 30, 2024 and September 30, 2023 , respectively. The total amount of cash received from exercise of these options was approximately $ 0 and $ 18 thousand during the nine months ended September 30, 2024 and September 30, 2023, respectively. Restricted Stock Units Restricted stock units are valued at the market price of a share of the Company’s common stock on the date of the grant. A summary of the restricted stock unit activity under the Company’s plans for the nine months ended September 30, 2024 is presented below: Year-to-Date Activity Shares Weighted- Aggregate Nonvested outstanding at December 31, 2023 1,573,548 $ 50.22 — Granted 725,585 27.26 — Vested ( 758,283 ) 55.41 — Forfeited ( 12,050 ) 54.35 — Nonvested outstanding at September 30, 2024 1,528,800 $ 36.72 $ 37,379,160 There were 758,283 restricted stock units with a total grant-date fair value of $ 42.0 million that vested during the nine months ended September 30, 2024 . There were 782,665 restricted stock units with a total grant-date fair value of $ 45.3 million that vested during the nine months ended September 30, 2023. As of September 30, 2024 , there was $ 48.1 million of total unrecognized compensation expense related to stock options and restricted stock units, which is expected to be recognized over a weighted average period of 2.0 years. ESPP Valuation Assumptions The valuation of ESPP purchase rights and the underlying weighted-average assumptions are summarized as follows: September 30, 2024 ESPP: Expected term in years 0.50 Risk-free interest rate 5.42 % Expected volatility 42.27 % Expected dividend yield — % Weighted-average fair value per right granted $ 8.46

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Stockholders' Equity	11. Stockholders’ Equity Common Stock Repurchase Programs In May 2022, the Company announced that its board of directors had authorized a stock repurchase program (the “May 2022 Repurchase Program”) whereby the Company was authorized to repurchase shares of the Company’s common stock having an aggregate purchase price of up to $ 50.0 million from time to time on the open market or in privately negotiated transactions at prices and in the manner determined by management. There were no amounts purchased under this plan during the nine months ended September 30, 2024 and September 30, 2023, respectively. As of September 30, 2024 , no amounts remained available under the May 2022 Repurchase Program. In November 2022, the Company announced that its board of directors had authorized a repurchase program (the “November 2022 Repurchase Program”) whereby the Company was authorized to repurchase shares of the Company’s common stock and Notes having an aggregate purchase price of up to $ 200.0 million from time to time on the open market or in privately negotiated transactions at prices and in the manner determined by management over the next two years. During the nine month period ended September 30, 2023, the Company repurchased 1,318,664 shares for an aggregate purchase price of $ 50.0 million at an average share price of $ 37.90 and $ 48.3 million aggregate principal amount of the 2025 Notes under the November 2022 Repurchase Program. As of September 30, 2024, $ 92.9 million remained available under the November 2022 Repurchase Program. Repurchased shares are recorded under the cost method and are reflected as treasury stock in the accompanying Condensed Consolidated Balance Sheets. The Company is restricted from making any repurchases during the period between the execution of the Transaction Agreement and the closing of the proposed transaction without Informa’s approval. Reserved Common Stock As of September 30, 2024 , the Company has reserved (i) 2,613,628 shares of common stock for settlement of outstanding and unexercised options, issuance following vesting of outstanding restricted stock units, and future awards available for grant under the 2007 Plan and 2017 Plan, (ii) 523,653 shares of common stock for use in settling purchases under the ESPP and (iii) 4,389,127 shares of common stock which may be issuable upon conversion of the Notes.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The Company measures its interim period tax expense using an estimated annual effective tax rate and adjustments for discrete taxable events that occur during the interim period. The estimated annual effective income tax rate is based upon the Company’s estimations of annual pre-tax income, the geographic mix of pre-tax income, and its interpretations of tax laws. The Company updates the estimate of its annual effective tax rate at the end of each quarterly period. The Company recorded income tax expense of $ 3.5 million and $ 5.1 million for the three and nine months ended September 30, 2024, respectively. The tax expense for the three months ended September 30, 2024 decreased by approximately $ 3.1 million, as compared to the same period in 2023, primarily due to a decrease in pretax income that resulted in a $ 3.0 million decrease in tax expense based on the Company’s projected effective tax rate and a decrease of $ 0.1 million in tax from discrete items related to stock based compensation awards. The tax expense for the nine months ended September 30, 2024 decreased by approximately $ 3.8 million, as compared to the same period in 2023, primarily due to pretax loss for the nine months ended September 30, 2024 versus pretax income to the same period in 2023. The Company recorded income tax expense of $ 6.5 million and $ 8.9 million for the three and nine months ended September 30, 2023, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	13. Segment Information The Company views its operations and manages its business as one operating segment which is the business of providing purchase intent marketing and sales services. The Company aggregated its operating segment based upon the similar economic and operating characteristics of its operations. Geographic Data Net sales by campaign target area were as follows (1): For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 North America $ 41,544 $ 38,891 $ 118,224 $ 115,629 International 16,928 18,237 50,798 57,042 Total $ 58,472 $ 57,128 $ 169,022 $ 172,671 (1) Net sales to customers by campaign target area is based on the geo-targeted (target audience) location of the campaign. Net sales to unaffiliated customers by geographic area were as follows (2): For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 United States $ 46,184 $ 44,093 $ 132,769 $ 132,011 United Kingdom 5,869 5,651 16,436 17,741 Other international 6,419 7,384 19,817 22,919 Total $ 58,472 $ 57,128 $ 169,022 $ 172,671 (2) Net sales to unaffiliated customers by geographic area is based on the customers’ current billing addresses and does not consider the geo-targeted (target audience) location of the campaign. Long-lived assets by geographic area were as follows: September 30, 2024 December 31, 2023 United States $ 220,376 $ 221,394 International 87,234 86,760 Total $ 307,610 $ 308,154 Long-lived assets are comprised of property and equipment, net; goodwill; and intangible assets, net. No single country outside of the U.S. and the United Kingdom accounted for 1 % or more of the Company’s long-lived assets during either of these periods.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, TechTarget Securities Corporation (“TSC”), TechTarget Limited, TechTarget (HK) Limited (“TTGT HK”), TechTarget (Australia) Pty Ltd., TechTarget (Singapore) Pte Ltd., E-Magine Médias SAS (“LeMagIT”), TechTarget Germany GmbH, and BrightTALK Limited and its wholly owned subsidiary, BrightTALK, Inc. (together “BrightTALK”). TSC is a Massachusetts corporation. TechTarget Limited is a subsidiary doing business principally in the United Kingdom. TTGT HK is a subsidiary incorporated in Hong Kong in order to facilitate the Company’s activities in the Asia-Pacific region. TechTarget (Australia) Pty Ltd. and TechTarget (Singapore) Pte Ltd. are the entities through which the Company does business in Australia and Singapore, respectively; LeMagIT and TechTarget Germany GmbH, both wholly-owned subsidiaries of TechTarget Limited, are entities through which the Company does business in France and Germany, respectively. BrightTALK are the entities through which the Company conducts business related to its BrightTALK webinar and virtual event platform.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted (Generally Accepted Accounting Principles or “U.S. GAAP”) in the United States (“U.S.”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. All adjustments, which, in the opinion of management, are considered necessary for a fair presentation of the results of operations for the periods shown, are of a normal, recurring nature and have been reflected in the condensed consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of results to be expected for any other interim periods or for the full year. The information included in these condensed consolidated financial statements should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in this report and the condensed consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 .
Foreign Currency Translation	Forei gn Currency Translation The functional currency of the Company’s major foreign subsidiaries is generally the local currency. Adjustments resulting from translating foreign functional currency financial statements into U.S. dollars are recorded as a separate component on the Condensed Consolidated Statement of Comprehensive Income as an element of accumulated other comprehensive income (loss). Foreign currency transaction gains and losses are included in interest and other income (expense), net in the Condensed Consolidated Statement of Income. All assets and liabilities denominated in foreign currency are translated into U.S. dollars at the exchange rate on the balance sheet date. Revenue and expenses are translated at the average exchange rate during the period.
Use of Estimates	Use of Estimate s The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including those related to revenue, long-lived assets, goodwill, the allowance for doubtful accounts, stock-based compensation, earnouts, self-insurance accruals, the allocation of purchase price to intangibles and goodwill, and income taxes. The Company reduces its accounts receivable for an allowance for doubtful accounts based on its best estimate of the amount of probable credit losses. Estimates of the carrying value of certain assets and liabilities are based on historical experience and on various other assumptions that the Company believes to be reasonable. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition The Company generates its revenue from the sale of targeted marketing and advertising campaigns, which it delivers via its network of websites, webinar and virtual events channels, and our data analytic services and solutions. Revenue is recognized when performance obligations are satisfied by transferring promised goods or services to customers, as determined by applying a five-step process consisting of: a) identifying the contract, or contracts, with a customer, b) identifying the performance obligations in the contract, c) determining the transaction price, d) allocating the transaction price to the performance obligations in the contract, and e) recognizing revenue when, or as, performance obligations are satisfied.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with original or remaining maturities of three months or less on the purchase date to be cash equivalents. Cash and cash equivalents carrying value approximate fair value and consist primarily of bank deposits and government backed money market funds.
Accounts Receivable	Accounts Receivable We maintain an allowance for credit losses for expected uncollectible accounts receivable, which is recorded as an offset to accounts receivable and changes in such are classified as general and administrative expense in the Condensed Consolidated Statements of Income and Comprehensive Income. We assess collectability by reviewing accounts receivable on an individual basis when we identify specific customers with known disputes, overdue amounts or collectability issues and also reserve for losses on all accounts based on historical information, current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. In determining the amount of the allowance for credit losses, we consider historical collectability based on past due status and make judgments about the creditworthiness of customers based on ongoing credit evaluations. At September 30, 2024 , the Company’s collectability assessment includes the business and market disruptions caused by macro-economic uncertainty currently being experienced in the technology sector and estimates of expected emerging credit and collectability trends. The continued volatility in market conditions and evolving shifts in credit trends are difficult to predict, causing variability and volatility that may have a material impact on our allowance for credit losses in future periods.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial instruments consist of cash, cash equivalents, short-term investments, accounts receivable, accounts payable, long-term debt and contingent consideration. Due to their short-term nature and liquidity, the carrying value of these instruments, with the exception of contingent consideration and long-term debt, approximates their estimated fair values. See Note 4 for further information on the fair value of the Company’s investments. The Company classifies all of its short-term investments as available-for-sale. The fair value of contingent consideration was estimated using a discounted cash flow method.
Business Combinations and Valuation of Goodwill and Acquired Intangible Assets	Business Combinations and Valuation of Goodwill and Acquired Intangible Assets The Company uses its best estimates and assumptions to allocate fair value to the net tangible and identifiable intangible assets acquired and liabilities assumed at the acquisition date. Any residual purchase price is recorded as goodwill. The Company’s estimates are inherently uncertain and subject to refinement and can include but are not limited to, the cash flows that an asset is expected to generate in the future, and the appropriate weighted-average cost of capital. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions and tax-related valuation allowances are initially recorded in connection with a business combination as of the acquisition date. The Company continues to collect information and reevaluates these estimates and assumptions quarterly and records any adjustments to the Company’s preliminary estimates to goodwill provided that the Company is within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s Condensed Consolidated Statement of Income and Comprehensive Income.
Recent Accounting Pronouncements	Recen t Accounting Pronouncements Recently Adopted Accounting Guidance In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-09. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280 on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2023-07.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue Recognition [Abstract]
Disaggregated Revenue	The following table depicts the disaggregation of revenue according to categories consistent with how the Company evaluates its financial performance and economic risk. International revenue consists of international geo-targeted campaigns, which are campaigns targeted at an audience of members outside of North America. For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 North America $ 41,544 $ 38,891 $ 118,224 $ 115,629 International 16,928 18,237 50,798 57,042 Total $ 58,472 $ 57,128 $ 169,022 $ 172,671 For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 Revenue under short-term contracts $ 39,154 $ 36,560 $ 112,631 $ 105,290 Revenue under longer-term contracts 19,318 20,568 56,391 67,381 Total $ 58,472 $ 57,128 $ 169,022 $ 172,671
Schedule of Deferred Revenue Included in Contract Liabilities	Contract Liabilities Year-to-Date Activity Balance at December 31, 2023 $ 14,721 Billings 54,290 Revenue Recognized ( 51,636 ) Balance at March 31, 2024 $ 17,375 Billings $ 59,986 Revenue Recognized ( 58,914 ) Balance at June 30, 2024 $ 18,447 Billings $ 57,379 Revenue Recognized ( 58,472 ) Balance at September 30, 2024 $ 17,354

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Assets Carried at Fair Value and Measured on Recurring Basis	The fair value hierarchy of the Company’s financial assets carried at fair value and measured on a recurring basis is as follows: Fair Value Measurements at September 30, Quoted Prices Significant Significant Assets: Pooled bond funds $ 77,310 — $ 77,310 — Total short-term investments $ 77,310 $ — $ 77,310 $ — Fair Value Measurements at December 31, 2023 Quoted Prices Significant Significant Assets: Time deposits (1) $ 25,877 $ — $ 25,877 $ — Pooled bond funds 73,724 — 73,724 — Total short-term investments $ 99,601 $ — $ 99,601 $ — (1) The Company ’ s time deposits consist of domestic deposits which mature within six months (Level 2). All level 2 investments are priced using observable inputs, such as quoted prices in markets that are not active and yield curves.

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Short-term Investments	Short-term investments consisted of the following: September 30, 2024 Adjusted Gross Gross Estimated Short-term investments: Pooled bond funds $ 75,632 $ 1,678 $ — $ 77,310 Total short-term investments $ 75,632 $ 1,678 $ — $ 77,310 December 31, 2023 Adjusted Gross Gross Estimated Short-term investments: Time deposits $ 25,877 $ — $ — $ 25,877 Pooled bond funds 73,021 703 — 73,724 Total short-term investments $ 98,898 $ 703 $ — $ 99,601

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The following table summarizes the Company’s intangible assets, net: September 30, 2024 Estimated Gross Accumulated Net Customer relationships 5 - 19 $ 85,432 $ ( 25,688 ) $ 59,744 Developed websites, technology and patents 10 34,695 ( 13,767 ) 20,928 Trademark, trade name and domain name 5 - 16 7,873 ( 3,867 ) 4,006 Proprietary user information database and internet traffic 5 1,128 ( 1,128 ) — Non-compete agreements 1.5 - 3 600 ( 523 ) 77 Total intangible assets $ 129,728 $ ( 44,973 ) $ 84,755 December 31, 2023 Estimated Gross Accumulated Net Customer relationships 5 - 19 $ 83,959 $ ( 21,604 ) $ 62,355 Developed websites, technology and patents 10 33,202 ( 10,802 ) 22,400 Trademark, trade name and domain name 5 - 16 7,627 ( 3,365 ) 4,262 Proprietary user information database and internet traffic 5 1,106 ( 1,106 ) — Non-compete agreements 1.5 - 3 600 ( 454 ) 146 Total intangible assets $ 126,494 $ ( 37,331 ) $ 89,163
Schedule of Amortization Expense of Intangible Assets	The Company expects amortization expense of intangible assets to be as follows: Years Ending December 31: Amortization 2024 (October 1 – December 31) $ 2,269 2025 9,038 2026 8,984 2027 8,979 2028 8,979 Thereafter 46,506 Total $ 84,755

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted Net Income (Loss) Per Common Share	A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per common share is as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Numerator: Net income (loss) $ ( 1,716 ) $ 1,742 $ ( 10,492 ) $ 6,062 Denominator: Basic: Weighted average shares of common stock and vested, undelivered restricted stock units outstanding 28,867,873 28,073,459 28,646,451 28,295,306 Diluted: Weighted average shares of common stock and vested, undelivered restricted stock units outstanding 28,867,873 28,073,459 28,646,451 28,295,306 Effect of potentially dilutive shares (1) — 132,877 — 188,314 Total weighted average shares of common stock and vested, undelivered restricted stock units outstanding and potentially dilutive shares 28,867,873 28,206,336 28,646,451 28,483,620 Net Income (Loss) Per Common Share: Basic: Net income (loss) applicable to common stockholders $ ( 1,716 ) $ 1,742 $ ( 10,492 ) $ 6,062 Weighted average shares of stock outstanding 28,867,873 28,073,459 28,646,451 28,295,306 Basic net income (loss) per common share $ ( 0.06 ) $ 0.06 $ ( 0.37 ) $ 0.21 Diluted: Net income (loss) applicable to common stockholders $ ( 1,716 ) $ 1,742 $ ( 10,492 ) $ 6,062 Weighted average shares of stock outstanding 28,867,873 28,206,336 28,646,451 28,483,620 Diluted net income (loss) per common share (1) $ ( 0.06 ) $ 0.06 $ ( 0.37 ) $ 0.21

Convertible Notes and Loan Ag_2

Convertible Notes and Loan Agreement (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Convertible Notes	Further details are included below: Issuance Maturity Date Interest Rate First Interest Payment Date Effective Interest Rate Semi-Annual Interest Payment Dates Initial Conversion Rate per $1,000 Principal Initial Conversion Price Number of Shares (in millions) 2025 Notes December 15, 2025 0.125 % June 15, 2021 0.8 % June 15, and December 15 14.1977 $ 70.43 0.1 2026 Notes December 15, 2026 0.0 % –– 0.0 % –– 7.6043 $ 131.50 4.3
Schedule of Notes	The Notes consist of the following: September 30, 2024 December 31, 2023 Liability Component: 2026 Notes 2025 Notes 2026 Notes 2025 Notes Principal $ 414,000 $ 3,040 $ 414,000 $ 3,040 Less: unamortized debt issuance costs 4,861 25 6,500 40 Net carrying amount $ 409,139 $ 3,015 $ 407,500 $ 3,000
Schedule Of Interest Expense Recognized	The following table sets forth total interest expense recognized related to the Notes: September 30, 2024 September 30, 2023 0.125% Coupon on 2025 Notes $ 3 $ 42 Amortization of debt discount and transaction costs 1,653 2,598 $ 1,656 $ 2,640
Schedule of Fair Value and Carrying Value of Debt Instrument	The fair value of the Notes, which was determined based on inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, quoted prices of the Notes in an over-the-counter market (Level 2), and carrying value of debt instruments (carrying value excludes the equity component of the Company’s convertible notes classified in equity) were as follows: September 30, 2024 December 31, 2023 Fair Value Carrying Value Fair Value Carrying Value Convertible senior notes $ 407,117 $ 412,154 $ 347,087 $ 410,500

Leases and Contingencies (Table

Leases and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2024
Lessee Disclosure [Abstract]
Summary of Maturities of Operating Lease Liabilities	As of September 30, 2024, operating lease assets were $ 14.6 million and operating lease liabilities were $ 17.5 million. The maturities of the Company’s operating lease liabilities as of September 30, 2024 were as follows: Minimum Lease Years Ending December 31: Payments 2024 (October 1 – December 31) $ 1,223 2025 4,115 2026 4,017 2027 3,582 2028 3,405 Thereafter 3,333 Total future minimum lease payments 19,675 Less imputed interest 2,186 Total operating lease liabilities $ 17,489 Included in the Consolidated Balance Sheet: Current operating lease liability $ 3,556 Non-current operating lease liability 13,933 Total operating lease liabilities $ 17,489
Summary of Lease Costs	For the nine months ended September 30, 2024 and 2023, the total lease cost was comprised of the following amounts: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease expense $ 1,046 $ 1,058 $ 3,101 $ 3,162 Short-term lease expense 4 4 13 13 Total lease expense $ 1,050 $ 1,062 $ 3,114 $ 3,175
Lessee Operating Lease Term and Discount Rate	The following summarizes additional information related to operating leases as of September 30, 2024: As of September 30, 2024 Weighted-average remaining lease term — operating leases 3.0 Weighted-average discount rate — operating leases 3.4 %

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity Under Company's Plans	A summary of the stock option activity under the Company’s plans for the nine months ended September 30, 2024 is presented below: Nine Month Activity Options Weighted- Weighted- Aggregate (1) Options outstanding at December 31, 2023 140,000 $ 38.22 — — Granted 25,000 30.21 — — Exercised — — — — Forfeited — — — — Cancelled — — — — Options outstanding at September 30, 2024 165,000 $ 37.01 6.21 $ 495,575 Options exercisable at September 30, 2024 140,000 $ 38.22 5.60 $ 495,575 Options vested or expected to vest at September 30, 2024 163,675 $ 37.07 6.19 $ 495,575 (1) The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s common stock on September 30, 2024 of $ 24.45 per share and the exercise price of the underlying options . The total intrinsic value of options exercised was $ 0 and $ 81 thousand during the nine months ended September 30, 2024 and September 30, 2023 , respectively.
Summary of Restricted Stock Unit Activity Under Company's Plans	Restricted stock units are valued at the market price of a share of the Company’s common stock on the date of the grant. A summary of the restricted stock unit activity under the Company’s plans for the nine months ended September 30, 2024 is presented below: Year-to-Date Activity Shares Weighted- Aggregate Nonvested outstanding at December 31, 2023 1,573,548 $ 50.22 — Granted 725,585 27.26 — Vested ( 758,283 ) 55.41 — Forfeited ( 12,050 ) 54.35 — Nonvested outstanding at September 30, 2024 1,528,800 $ 36.72 $ 37,379,160
Schedule of valuation of ESPP purchase rights and the underlying weighted-average assumptions	The valuation of ESPP purchase rights and the underlying weighted-average assumptions are summarized as follows: September 30, 2024 ESPP: Expected term in years 0.50 Risk-free interest rate 5.42 % Expected volatility 42.27 % Expected dividend yield — % Weighted-average fair value per right granted $ 8.46

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Long-Lived Assets by Geographic Area	Long-lived assets by geographic area were as follows: September 30, 2024 December 31, 2023 United States $ 220,376 $ 221,394 International 87,234 86,760 Total $ 307,610 $ 308,154
Customers by Campaign Target Area [Member]
Net Sales by Campaign Target Area and Geographic Area	Net sales by campaign target area were as follows (1): For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 North America $ 41,544 $ 38,891 $ 118,224 $ 115,629 International 16,928 18,237 50,798 57,042 Total $ 58,472 $ 57,128 $ 169,022 $ 172,671 (1) Net sales to customers by campaign target area is based on the geo-targeted (target audience) location of the campaign.
Unaffiliated Customers by Geographic Area [Member]
Net Sales by Campaign Target Area and Geographic Area	Net sales to unaffiliated customers by geographic area were as follows (2): For the Three Months Ended For the Nine Months Ended 2024 2023 2024 2023 United States $ 46,184 $ 44,093 $ 132,769 $ 132,011 United Kingdom 5,869 5,651 16,436 17,741 Other international 6,419 7,384 19,817 22,919 Total $ 58,472 $ 57,128 $ 169,022 $ 172,671 (2) Net sales to unaffiliated customers by geographic area is based on the customers’ current billing addresses and does not consider the geo-targeted (target audience) location of the campaign.

Organization and Operations - A

Organization and Operations - Additional Information (Detail) $ / shares in Units, $ in Millions		9 Months Ended
	Jan. 10, 2024 USD ($) $ / shares	Sep. 30, 2024 Webinar Website $ / shares	Dec. 31, 2023 $ / shares
Number of websites | Website		150
Number of webinars/virtual event channels | Webinar		838
Transaction agreement per share of common stock | $ / shares	$ 11.71	$ 0.001	$ 0.001
Maximum [Member]
Termination fee payable	$ 40
Minimum [Member]
Termination fee payable	$ 30
New TechTarget [Member]
Equity method investment, ownership percentage	57%
Former Stockholders [Member]
Pro rata share of an amount in cash	$ 350
Pro rata share of an amount in cash, adjustment amount determined	$ 0

Revenue - Disaggregated Revenue

Revenue - Disaggregated Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation Of Revenue [Line Items]
Total Revenue	$ 58,472	$ 57,128	$ 169,022	$ 172,671
North America [Member]
Disaggregation Of Revenue [Line Items]
Total Revenue	41,544	38,891	118,224	115,629
International [Member]
Disaggregation Of Revenue [Line Items]
Total Revenue	16,928	18,237	50,798	57,042
Revenue under short-term contracts [Member]
Disaggregation Of Revenue [Line Items]
Total Revenue	39,154	36,560	112,631	105,290
Revenue under longer-term contracts [Member]
Disaggregation Of Revenue [Line Items]
Total Revenue	$ 19,318	$ 20,568	$ 56,391	$ 67,381

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Minimum [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenue payment terms	30 days
Maximum [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenue payment terms	90 days
Revenue recognition timing of invoicing period	1 year
Amortization period of contract assets	1 year
Contract with customer contract period	1 year
Contract Liabilities [Member]
Deferred Revenue Arrangement [Line Items]
Accrued sales incentives	$ 0.8	$ 1.9

Revenue - Schedule of Deferred

Revenue - Schedule of Deferred Revenue Included in Contract Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024
Revenue Recognition [Abstract]
Contract Liabilities, Balance	$ 18,447	$ 17,375	$ 14,721
Contract Liabilities, Billings	57,379	59,986	54,290
Contract Liabilities, Revenue Recognized	(58,472)	(58,914)	(51,636)
Contract Liabilities, Balance	$ 17,354	$ 18,447	$ 17,375

Fair Value Measurements - Asset

Fair Value Measurements - Assets Carried at Fair Value and Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Assets:
Total short-term investments		$ 77,310	$ 99,601
Time Deposits [Member]
Assets:
Total short-term investments	[1]		25,877
Pooled Bond Funds [Member]
Assets:
Total short-term investments		77,310	73,724
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Total short-term investments		77,310	99,601
Significant Other Observable Inputs (Level 2) [Member] | Time Deposits [Member]
Assets:
Total short-term investments	[1]		25,877
Significant Other Observable Inputs (Level 2) [Member] | Pooled Bond Funds [Member]
Assets:
Total short-term investments		$ 77,310	$ 73,724
[1] The Company ’ s time deposits consist of domestic deposits which mature within six months (Level 2). All level 2 investments are priced using observable inputs, such as quoted prices in markets that are not active and yield curves.

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short-Term Investments - Additional Information (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 278,519,000	$ 226,668,000
Realized gains or (losses)	$ 0	$ 0

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments - Short-term Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 75,632	$ 98,898
Gross Unrealized Gains	1,678	703
Estimated Fair Value	77,310	99,601
Pooled Bond Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	75,632	73,021
Gross Unrealized Gains	1,678	703
Estimated Fair Value	$ 77,310	73,724
Time Deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		25,877
Estimated Fair Value		$ 25,877

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Goodwill And Intangible Assets [Line Items]
Intangible assets with indefinite lives other than goodwill	$ 0		$ 0
Impairment of intangible assets	$ 0
Remaining amortization period	6 years 1 month 6 days
Amortization of intangible assets	$ 6,600,000	$ 6,600,000
Write off of fully amortized intangible assets	$ 0	$ 0
Minimum [Member]
Goodwill And Intangible Assets [Line Items]
Estimated useful lives	18 months
Maximum [Member]
Goodwill And Intangible Assets [Line Items]
Estimated useful lives	19 years

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 129,728	$ 126,494
Accumulated Amortization	(44,973)	(37,331)
Total intangible assets	$ 84,755	89,163
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	18 months
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	19 years
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 85,432	83,959
Accumulated Amortization	(25,688)	(21,604)
Total intangible assets	$ 59,744	$ 62,355
Customer Relationships [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	5 years	5 years
Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	19 years	19 years
Developed Websites, Technology and Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	10 years	10 years
Gross Carrying Amount	$ 34,695	$ 33,202
Accumulated Amortization	(13,767)	(10,802)
Total intangible assets	20,928	22,400
Trademarks, Trade Name and Domain Name [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	7,873	7,627
Accumulated Amortization	(3,867)	(3,365)
Total intangible assets	$ 4,006	$ 4,262
Trademarks, Trade Name and Domain Name [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	5 years	5 years
Trademarks, Trade Name and Domain Name [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	16 years	16 years
Proprietary User Information Database and Internet Traffic [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	5 years	5 years
Gross Carrying Amount	$ 1,128	$ 1,106
Accumulated Amortization	(1,128)	(1,106)
Non-compete agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	600	600
Accumulated Amortization	(523)	(454)
Total intangible assets	$ 77	$ 146
Non-compete agreements [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	1 year 6 months	1 year 6 months
Non-compete agreements [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	3 years	3 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Amortization Expense of Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (October 1 - December 31)	$ 2,269
2025	9,038
2026	8,984
2027	8,979
2028	8,979
Thereafter	46,506
Total intangible assets	$ 84,755	$ 89,163

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share - Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted Net Income (Loss) Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net Income (Loss)	$ (1,716)	$ 1,312	$ (10,088)	$ 1,742	$ 2,675	$ 1,645	$ (10,492)	$ 6,062
Basic:
Weighted average shares of common stock and vested, undelivered restricted stock units outstanding	28,867,873			28,073,459			28,646,451	28,295,306
Diluted:
Weighted average shares of common stock and vested, undelivered restricted stock units outstanding	28,867,873			28,073,459			28,646,451	28,295,306
Effect of potentially dilutive shares	0			132,877			0	188,314
Total weighted average shares of common stock and vested, undelivered restricted stock units outstanding and potentially dilutive shares	28,867,873			28,206,336			28,646,451	28,483,620
Basic:
Net income (loss) applicable to common stockholders	$ (1,716)	$ 1,312	$ (10,088)	$ 1,742	$ 2,675	$ 1,645	$ (10,492)	$ 6,062
Weighted average shares of stock outstanding	28,867,873			28,073,459			28,646,451	28,295,306
Basic net income (loss) per common share	$ (0.06)			$ 0.06			$ (0.37)	$ 0.21
Diluted:
Net income (loss) applicable to common stockholders	$ (1,716)			$ 1,742			$ (10,492)	$ 6,062
Weighted average shares of stock outstanding	28,867,873			28,206,336			28,646,451	28,483,620
Diluted net income (loss) per common share	$ (0.06)			$ 0.06			$ (0.37)	$ 0.21

Net Income (Loss) Per Common _4

Net Income (Loss) Per Common Share - Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted Net Income (Loss) Per Common Share (Parenthetical) (Detail) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Outstanding stock options and unvested restricted stock units excluded from computation of diluted EPS	641	1,300	585	1,400
Interest and Debt Expense	$ 0.6	$ 0.6	$ 1.7	$ 1.9

Convertible Notes and Loan Ag_3

Convertible Notes and Loan Agreement - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended			9 Months Ended
	Oct. 29, 2021	Aug. 31, 2023	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2024	Dec. 31, 2023
Line Of Credit Facility [Line Items]
Debt instrument converted				$ 1,000
Threshold percentage of stock price trigger					130%
Percentage of sale price of common stock and conversion rate				98%
Western Alliance Bank [Member] | 2021 Loan Agreement [Member]
Line Of Credit Facility [Line Items]
Credit line	$ 75,000
Letter-of-credit sublimit	$ 5,000
Credit facility, Maturity date	Oct. 29, 2023
0.125% Convertible Senior Notes [Member]
Line Of Credit Facility [Line Items]
Interest rate				0.125%
Debt instrument converted			$ 1,000
Aggregate principal amount					$ 3,000
2025 Notes [Member]
Line Of Credit Facility [Line Items]
Aggregate principal amount of term loan borrowed				$ 201,300
Interest rate			0.125%
Loan facility maturity date			Dec. 15, 2025	Dec. 15, 2025
Debt instrument repurchase principal amount		$ 48,300
Transaction fee		$ 42,600
Debt instrument conversion date				Sep. 14, 2025
Aggregate principal amount					3,040	$ 3,040
2026 Notes [Member]
Line Of Credit Facility [Line Items]
Aggregate principal amount of term loan borrowed			$ 414,000
Interest rate			0%
Loan facility maturity date			Dec. 15, 2026
Debt instrument conversion date				Sep. 14, 2026
Aggregate principal amount					$ 414,000	$ 414,000

Convertible Notes and Loan Ag_4

Convertible Notes and Loan Agreement - Schedule of Convertible Notes (Details) Shares1 in Millions	12 Months Ended
	Dec. 31, 2021 Shares1 $ / shares	Dec. 31, 2020
2025 Notes [Member]
Debt Instrument [Line Items]
Maturity Date	Dec. 15, 2025	Dec. 15, 2025
Interest Rate	0.125%
First Interest Payment Date	Jun. 15, 2021
Effective Interest Rate	0.80%
Semi-Annual Interest Payment Dates	June 15, and December 15
Initial Conversion Rate per $1,000 Principal	14.1977
Initial Conversion Price | $ / shares	$ 70.43
Number of Shares (in millions) | Shares1	0.1
2026 Notes [Member]
Debt Instrument [Line Items]
Maturity Date	Dec. 15, 2026
Interest Rate	0%
Effective Interest Rate	0%
Initial Conversion Rate per $1,000 Principal	7.6043
Initial Conversion Price | $ / shares	$ 131.5
Number of Shares (in millions) | Shares1	4.3

Convertible Notes and Loan Ag_5

Convertible Notes and Loan Agreement - Schedule of Notes (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
2025 Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 3,040	$ 3,040
Less: unamortized debt issuance costs	25	40
Net carrying amount	3,015	3,000
2026 Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount	414,000	414,000
Less: unamortized debt issuance costs	4,861	6,500
Net carrying amount	$ 409,139	$ 407,500

Convertible Notes and Loan Ag_6

Convertible Notes and Loan Agreement - Schedule Of Interest Expense Recognized (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Debt Disclosure [Abstract]
0.125% Coupon on 2025 Notes	$ 3	$ 42
Amortization of debt discount and transaction costs	1,653	2,598
Interest expense recognized	$ 1,656	$ 2,640

Convertible Notes and Loan Ag_7

Convertible Notes and Loan Agreement - Schedule of Fair Value and Carrying Value of Debt Instrument (Detail) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Convertible senior notes, Fair Value	$ 407,117	$ 347,087
Convertible senior notes, Carrying Value	$ 412,154	$ 410,500

Leases and Contingencies - Addi

Leases and Contingencies - Additional Information (Detail) $ in Thousands		1 Months Ended
	Oct. 26, 2017 USD ($) ft²	Apr. 30, 2021 USD ($) ft²	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Lessee Lease Description [Line Items]
Operating lease assets (right -of-use assets)			$ 14,605	$ 17,166
Operating lease liabilities			$ 17,489
Minimum [Member]
Lessee Lease Description [Line Items]
Lessee, operating lease, renewal term			1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Lessee, operating lease, renewal term			5 years
Third Amendment Newton Lease [Member]
Lessee Lease Description [Line Items]
Lease extension date	Dec. 31, 2029
Operating lease term option to extend	5 years
Amendment effective date	Jan. 01, 2018
Base monthly rent	$ 300
Percentage increase in base rent	1%
Third Amendment Newton Lease [Member] | Minimum [Member]
Lessee Lease Description [Line Items]
Lease agreement for office | ft²	74,000
Third Amendment Newton Lease [Member] | Maximum [Member]
Lessee Lease Description [Line Items]
Lease agreement for office | ft²	110,000
Fourth Amendment [Member]
Lessee Lease Description [Line Items]
One-time cash allowance		$ 600
Base monthly rent		$ 300
Amendment effective month and year		2021-05
Fourth Amendment [Member] | Minimum [Member]
Lessee Lease Description [Line Items]
Lease agreement for office | ft²		68,000
Fourth Amendment [Member] | Maximum [Member]
Lessee Lease Description [Line Items]
Lease agreement for office | ft²		74,000

Leases and Contingencies - Summ

Leases and Contingencies - Summary of Maturities of Operating Lease Liabilities (Detail) $ in Thousands	Sep. 30, 2024 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2024 (October 1 - December 31)	$ 1,223
2025	4,115
2026	4,017
2027	3,582
2028	3,405
Thereafter	3,333
Total future minimum lease payments	19,675
Less imputed interest	2,186
Operating lease liabilities	$ 17,489

Leases and contingencies - Su_2

Leases and contingencies - Summary of Operating Lease Liabilities Included in Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets and Liabilities, Lessee [Abstract]
Current operating lease liabilities	$ 3,556	$ 4,049
Non-current operating lease liability	13,933	$ 16,615
Total operating lease liabilities	$ 17,489

Leases and Contingencies - Su_3

Leases and Contingencies - Summary of Lease Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Operating lease expense	$ 1,046	$ 1,058	$ 3,101	$ 3,162
Short-term lease expense	4	4	13	13
Total lease expense	$ 1,050	$ 1,062	$ 3,114	$ 3,175

Leases and Contingencies - Su_4

Leases and Contingencies - Summary of Additional Information Related to Operating Leases (Detail)	Sep. 30, 2024
Lease, Cost [Abstract]
Weighted-average remaining lease term — operating leases	3 years
Weighted-average discount rate — operating leases	3.40%

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Apr. 30, 2021	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 07, 2022	Jun. 16, 2017
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Common stock outstanding under the plan		165,000		140,000
Common stock shares available for issuance		523,653
Expected dividend yield		0%
Cash received from exercise of options		$ 0	$ 18
Employee service share-based compensation, nonvested units, compensation cost not yet recognized		$ 48,100
Employee service share-based compensation, nonvested units, compensation cost not yet recognized, period for recognition		2 years
Restricted Stock Units [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Stock options vested		758,283	782,665
Grant date fair value of restricted stock units vested		$ 42,000	$ 45,300
Employee Stock Purchase Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Common stock shares reserved for issuance					600,000
Expected dividend yield		0%
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Purchase Date		15%
Stock Option 2007 Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Expiry date		2017-05
New awards granted		0
Common stock outstanding under the plan		20,000
Stock Option 2017 Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Common stock outstanding under the plan		1,675,300
Common stock shares reserved for issuance						3,000,000
Common stock additional shares authorized for issuance	3,800,000
Plan effective date		Jun. 16, 2017
Common stock shares available for issuance		918,328
Minimum [Member] | Stock Option 2007 Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Period of grants vested		3 years
Minimum [Member] | Stock Option 2017 Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Period of grants vested		3 years
Maximum [Member] | Employee Stock Purchase Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Common stock purchased		$ 25,000
Maximum [Member] | Stock Option 2007 Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Period of grants vested		4 years
Period of grants expired		10 years
Maximum [Member] | Stock Option 2017 Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Period of grants expired		10 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity under Company's Plans (Detail) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
		Sep. 30, 2024		Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Options outstanding, beginning balance		140,000
Options Outstanding, Granted		25,000
Options Outstanding, Exercised		0
Options Outstanding, Forfeited		0
Options Outstanding, Cancelled		0
Options outstanding, ending balance		165,000
Options Outstanding, Options exercisable		140,000
Options Outstanding, Options vested or expected to vest		163,675
Weighted-Average Exercise Price Per Share, Options outstanding, beginning balance		$ 38.22
Weighted-Average Exercise Price Per Share, Granted		30.21
Weighted-Average Exercise Price Per Share, Exercised		0
Weighted-Average Exercise Price Per Share, Forfeited		0
Weighted- Average Exercise Price Per Share, Cancelled		0
Weighted- Average Exercise Price Per Share, Options outstanding, ending balance		37.01
Weighted- Average Exercise Price Per Share, Options exercisable		38.22
Weighted-Average Exercise Price Per Share, Options vested or expected to vest		$ 37.07
Weighted-Average Remaining Contractual Term in Years, Options outstanding		6 years 2 months 15 days
Weighted-Average Remaining Contractual Term in Years, Options exercisable		5 years 7 months 6 days
Weighted-Average Remaining Contractual Term in Years, Options vested or expected to vest		6 years 2 months 8 days
Aggregate Intrinsic Value, Exercised		$ 0	[1]	$ 81
Aggregate Intrinsic Value, Options outstanding	[1]	495,575
Aggregate Intrinsic Value, Options exercisable	[1]	495,575
Aggregate Intrinsic Value, Options vested or expected to vest	[1]	$ 495,575
[1] The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s common stock on September 30, 2024 of $ 24.45 per share and the exercise price of the underlying options . The total intrinsic value of options exercised was $ 0 and $ 81 thousand during the nine months ended September 30, 2024 and September 30, 2023 , respectively.

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Option Activity under Company's Plans (Parenthetical) (Detail) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024		Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Exercise price per share	$ 24.45
Aggregate Intrinsic Value, Exercised	$ 0	[1]	$ 81
[1] The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s common stock on September 30, 2024 of $ 24.45 per share and the exercise price of the underlying options . The total intrinsic value of options exercised was $ 0 and $ 81 thousand during the nine months ended September 30, 2024 and September 30, 2023 , respectively.

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Restricted Stock Unit Activity Under Company's Plans (Detail) - Restricted Stock [Member] - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Nonvested outstanding, beginning balance	1,573,548
Shares, Granted	725,585
Shares, Vested	(758,283)	(782,665)
Shares, Forfeited	(12,050)
Shares, Nonvested outstanding, ending balance	1,528,800
Weighted-Average Grant Date Fair Value Per Share, Nonvested outstanding, beginning balance	$ 50.22
Weighted-Average Grant Date Fair Value Per Share, Granted	27.26
Weighted-Average Grant Date Fair Value Per Share, Vested	55.41
Weighted-Average Grant Date Fair Value Per Share, Forfeited	54.35
Weighted-Average Grant Date Fair Value Per Share, Nonvested outstanding, ending balance	$ 36.72
Aggregate Intrinsic Value, Nonvested outstanding	$ 37,379,160

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Valuation of ESPP Purchase Rights and Underlying Weighted-Average Assumptions (Detail)	9 Months Ended
	Sep. 30, 2024 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield	0%
Employee Stock Purchase Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term in years	6 months
Risk-free interest rate	5.42%
Expected volatility	42.27%
Expected dividend yield	0%
Weighted-average fair value per right granted	$ 8.46

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Nov. 30, 2022	May 31, 2022
Schedule of Trading Securities and Other Trading Assets [Line Items]
Common stock repurchase, amount		$ 25,000,000	$ 25,000,000
2025 Notes [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Debt instrument repurchase principal amount	$ 48,300,000
November 2022 Plans [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Common stock repurchase authorized amount				$ 92,900,000		$ 200,000,000
Common stock repurchased, shares					1,318,664
Common stock repurchase, amount					$ 50,000,000
Stock repurchased, average price per share					$ 37.9
November 2022 Plans [Member] | 2025 Notes [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Debt instrument repurchase principal amount					$ 48,300,000
2007 and 2017 Plans [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Adjustment of common stock under employee stock purchase program				523,653
Common stock reserved				2,613,628
2007 and 2017 Plans [Member] | 0.125% Convertible Senior Notes [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Common stock reserved				4,389,127
May 2022 Repurchase Program [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Common stock repurchase authorized amount				$ 0			$ 50,000,000
Common stock repurchase, amount				$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Income tax expense benefit	$ 3.5	$ 6.5	$ 5.1	$ 8.9
Income tax change in enacted tax rate	$ (3.1)		(3.8)
Income tax expenses decrease due to pretax income			3
Decrease in tax related to stock based compensation			$ (0.1)

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2024 Segment
Segment Reporting Information [Line Items]
Number of operating segment	1
UNITED KINGDOM
Segment Reporting Information [Line Items]
Long Lived Assets Percentage	1%

Segment Information - Net Sales

Segment Information - Net Sales by Campaign Target Area (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenue	$ 58,472	$ 57,128	$ 169,022	$ 172,671
Customers by Campaign Target Area [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenue	58,472	57,128	169,022	172,671
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenue	41,544	38,891	118,224	115,629
North America [Member] | Customers by Campaign Target Area [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenue	41,544	38,891	118,224	115,629
International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenue	16,928	18,237	50,798	57,042
International [Member] | Customers by Campaign Target Area [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Revenue	$ 16,928	$ 18,237	$ 50,798	$ 57,042

Segment Information - Net Sal_2

Segment Information - Net Sales to Customers by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales, Total	$ 58,472	$ 57,128	$ 169,022	$ 172,671
Unaffiliated Customers by Geographic Area [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales, Total	58,472	57,128	169,022	172,671
United States [Member] | Unaffiliated Customers by Geographic Area [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales, Total	46,184	44,093	132,769	132,011
United Kingdom [Member] | Unaffiliated Customers by Geographic Area [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales, Total	5,869	5,651	16,436	17,741
Other International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales, Total	16,928	18,237	50,798	57,042
Other International [Member] | Unaffiliated Customers by Geographic Area [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales, Total	$ 6,419	$ 7,384	$ 19,817	$ 22,919

Segment Information - Long-Live

Segment Information - Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets, Total	$ 307,610	$ 308,154
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets, Total	220,376	221,394
International [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets, Total	$ 87,234	$ 86,760