Alkami Technology (ALKT) 10-Q 2 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover	3 Months Ended
	Mar. 31, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-40321
Entity Registrant Name	ALKAMI TECHNOLOGY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3060776
Entity Address, Address Line One	5601 Granite Parkway,
Entity Address, Address Line Two	Suite 120
Entity Address, City or Town	Plano,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75204
City Area Code	877
Local Phone Number	725-5264
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	ALKT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	97,515,483
Fiscal Year End	--12-31
Fiscal Year Focus	2024
Fiscal Period Focus	Q1
CIK	0001529274
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 44,179	$ 40,927
Marketable securities	43,125	51,196
Accounts receivable, net	35,717	35,499
Deferred costs, current	11,081	10,329
Prepaid expenses and other current assets	11,531	10,634
Total current assets	145,633	148,585
Property and equipment, net	18,217	16,946
Right-of-use assets	15,479	15,754
Deferred costs, net of current portion	31,499	30,734
Intangibles, net	34,111	35,807
Goodwill	148,050	148,050
Other assets	4,653	3,949
Total assets	397,642	399,825
Current liabilities
Accounts payable	6,533	7,478
Accrued liabilities	16,902	19,763
Deferred revenues, current portion	12,497	10,984
Lease liabilities, current portion	1,242	1,205
Total current liabilities	37,174	39,430
Deferred revenues, net of current portion	17,525	15,384
Deferred income taxes	1,738	1,713
Lease liabilities, net of current portion	18,065	18,052
Other non-current liabilities	233	305
Total liabilities	74,735	74,884
Stockholders’ Equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized and 0 shares issued and outstanding as of March 31, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value, 500,000,000 shares authorized; and 97,515,483 and 96,722,098 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	98	97
Additional paid-in capital	769,608	760,210
Accumulated deficit	(446,799)	(435,366)
Total stockholders’ equity	322,907	324,941
Total liabilities and stockholders' equity	$ 397,642	$ 399,825

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	97,515,483	96,722,098
Common stock, outstanding (in shares)	97,515,483	96,722,098

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenues		$ 76,127	$ 59,996
Cost of revenues	[1]	32,095	27,858
Gross profit		44,032	32,138
Operating expenses:
Research and development		22,820	20,549
Sales and marketing		13,843	10,878
General and administrative		19,315	17,111
Acquisition-related expenses		60	186
Amortization of acquired intangibles		359	360
Total operating expenses		56,397	49,084
Loss from operations		(12,365)	(16,946)
Non-operating income (expense):
Interest income		1,082	1,726
Interest expense		(73)	(1,757)
Gain on financial instruments		112	210
Loss before income taxes		(11,244)	(16,767)
Provision for income taxes		189	196
Net loss		$ (11,433)	$ (16,963)
Net loss per share attributable to common stockholders:
Basic (in dollars per share)		$ (0.12)	$ (0.18)
Diluted (in dollars per share)		$ (0.12)	$ (0.18)
Weighted-average number of shares of common stock outstanding:
Basic (in shares)		96,945,232	92,397,341
Diluted (in shares)		96,945,232	92,397,341
[1] Includes amortization of acquired technology of $1.3 million for both the three months ended March 31, 2024 and 2023.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cost of revenues	$ 1.7	$ 1.7
Technology
Cost of revenues	$ 1.3	$ 1.3

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		92,112,749
Beginning balance at Dec. 31, 2022	$ 334,046	$ 92	$ 706,407	$ (372,453)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	11,612		11,612
Issuance of common stock upon restricted stock unit vesting (in shares)		292,591
Issuance of common stock upon restricted stock unit vesting	0
Exercised stock options (in shares)		459,401
Exercised stock options	1,416	$ 1	1,415
Payments for taxes related to net settlement of equity awards	(1,984)		(1,984)
Net loss	(16,963)			(16,963)
Ending balance (in shares) at Mar. 31, 2023		92,864,741
Ending balance at Mar. 31, 2023	328,127	$ 93	717,450	(389,416)
Beginning balance (in shares) at Dec. 31, 2023		96,722,098
Beginning balance at Dec. 31, 2023	324,941	$ 97	760,210	(435,366)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	13,906		13,906
Issuance of common stock upon restricted stock unit vesting (in shares)		483,517
Issuance of common stock upon restricted stock unit vesting	0	$ 1	(1)
Exercised stock options (in shares)		309,868
Exercised stock options	1,171	$ 0	1,171
Payments for taxes related to net settlement of equity awards	(5,678)		(5,678)
Net loss	(11,433)			(11,433)
Ending balance (in shares) at Mar. 31, 2024		97,515,483
Ending balance at Mar. 31, 2024	$ 322,907	$ 98	$ 769,608	$ (446,799)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss		$ (11,433)	$ (16,963)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization expense		2,562	2,586
Accrued interest on marketable securities, net		(294)	(398)
Stock-based compensation expense		13,552	11,440
Amortization of debt issuance costs		32	45
Gain on financial instruments		(112)	(210)
Deferred taxes		25	47
Changes in operating assets and liabilities:
Accounts receivable		(218)	(2,183)
Prepaid expenses and other current assets		(1,633)	(2,654)
Accounts payable and accrued liabilities		(3,873)	(1,290)
Deferred costs		(1,311)	(859)
Deferred revenues		3,654	824
Net cash provided by (used in) operating activities		951	(9,615)
Cash flows from investing activities:
Purchase of marketable securities		(7,149)	(20,987)
Proceeds from sales, maturities and redemptions of marketable securities		15,626	38,122
Purchases of property and equipment		(306)	(229)
Capitalized software development costs	[1]	(1,363)	(1,141)
Net cash provided by investing activities		6,808	15,765
Cash flows from financing activities:
Payments for taxes related to net settlement of equity awards		(5,678)	(1,984)
Proceeds from stock option exercises		1,171	1,416
Net cash used in financing activities		(4,507)	(568)
Net increase in cash and cash equivalents and restricted cash		3,252	5,582
Cash and cash equivalents and restricted cash, beginning of period		40,927	112,337
Cash and cash equivalents and restricted cash, end of period		$ 44,179	$ 117,919
[1] See Note 3 for additional information regarding non-cash investing activities for the three months ended March 31, 2024 and 2023 related to capitalized software development costs.

Organization

Organization	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Description of Business Alkami Technology, Inc. (the “Company”) is a cloud-based digital banking solutions provider. The Company inspires and empowers community, regional and super-regional financial institutions (“FIs”) to compete with large, technologically advanced and well-resourced banks in the United States. The Company’s solution, the Alkami Digital Banking Platform, allows FIs to onboard and engage new users, accelerate revenues and meaningfully improve operational efficiency, all with the support of a proprietary, true cloud-based, multi-tenant architecture. The Company cultivates deep relationships with its clients through long-term, subscription-based contractual arrangements, aligning its growth with its clients’ success and generating an attractive unit economic model. The Company was incorporated in Delaware in August 2011, and its principal offices are located in Plano, Texas.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The accompanying condensed consolidated financial statements reflect the application of significant accounting policies as described below. Basis of Presentation and Consolidation The interim unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All intercompany accounts and transactions are eliminated. In the Company's opinion, the accompanying interim unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, consisting of normal, recurring adjustments, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Certain information and disclosures normally included in the notes to the annual consolidated financial statements prepared in accordance with GAAP have been omitted from these interim unaudited condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the accompanying notes for the fiscal year ended December 31, 2023, which are included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 29, 2024. Operating results for the three months ended March 31, 2024 are not necessarily indicative of results that may be expected for any other interim period or for the year ending December 31, 2024. The Company has no sources of other comprehensive income, and accordingly, net loss presented each period is the same as comprehensive loss. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates and assumptions include determining the timing and amount of revenue recognition and business combinations. Recent Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU No. 2023-07 amended the existing segment reporting requirements by requiring disclosure of the significant segment expenses based on how management internally views segment information and by allowing the disclosure of more than one measure of segment profit or loss, as well as by expanding the interim period segment requirements. The ASU also requires single-reportable segment entities to report the disclosures required under ASC Topic 280, Segment Reporting. ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU No 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 expands disclosures in the rate reconciliation and requires disclosure of income taxes paid by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-09 should be applied prospectively; however, retrospective application is permitted. The Company is currently evaluating the impact the updated standard will have on its financial statement disclosures.

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Depreciation and amortization expense was $0.9 million for both the three months ended March 31, 2024, and 2023. Property and equipment, net, includes the following amounts at March 31, 2024 and December 31, 2023: (in thousands) Useful Life March 31, 2024 December 31, 2023 Software 2 to 5 years $ 920 $ 920 Capitalized software development costs 5 years 13,808 12,263 Computers and equipment 3 years 6,584 6,359 Furniture and fixtures 5 years 3,988 3,988 Leasehold improvements 3 to 10 years 12,697 12,312 $ 37,997 $ 35,842 Less: accumulated depreciation and amortization (19,780) (18,896) Property and equipment, net $ 18,217 $ 16,946 For both the three months ended March 31, 2024 and 2023 the Company had non-cash investing activities of $0.2 million for capitalized stock-based compensation related to capitalized software development costs. Additionally, the Company recognized stock-based compensation expense on the amortization of capitalized stock-based compensation associated with capitalized software development costs of less than $0.1 million and none for the three months ended March 31, 2024 and March 31, 2023, respectively.

Revenues and Deferred Costs

Revenues and Deferred Costs	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues and Deferred Costs	Revenues and Deferred Costs The Company derives the majority of its revenues from recurring monthly subscription fees charged for the use of its software-as-a-service (“SaaS”) subscription services. Subscription revenues are generally recognized as revenue over the term of the contract as a series of distinct SaaS services bundled into a single performance obligation. Clients are usually charged a one-time, upfront implementation fee and recurring annual and monthly access fees for the use of the online digital relationship banking solution. Implementation and integration of the digital banking platform is complex, and the Company has determined that the one-time, upfront services do not transfer a promised service to the client. As these services are not distinct, they are bundled into the SaaS series of services, and the associated fees are recognized on a straight-line basis over the subscription term. Other services includes professional services and custom development. The following table disaggregates the Company's revenue by major source for the three months ended March 31, 2024 and 2023: Three months ended March 31, (in thousands) 2024 2023 SaaS subscription services $ 73,012 $ 57,519 Implementation services 1,848 1,670 Other services 1,267 807 Total revenues $ 76,127 $ 59,996 The Company recognized approximately $2.4 million of revenue during the three months ended March 31, 2024 that was included in deferred revenues in the accompanying condensed consolidated balance sheets as of the beginning of the reporting period. For those contracts that were wholly or partially unsatisfied as of March 31, 2024, minimum contracted subscription revenues to be recognized in future periods total approximately $1.2 billion. The Company expects to recognize approximately 45.9% of this amount as subscription services are transferred to customers over the next 24 months, an additional 34.8% in the next 25 to 48 months, and the balance thereafter. This estimate does not include estimated consideration for excess user and transaction processing fees that the Company expects to earn under its subscription contracts. Contract assets totaled $1.4 million and $1.5 million as of March 31, 2024 and December 31, 2023, respectively, which are included in other assets in the accompanying condensed consolidated balance sheets. Deferred Cost Recognition The Company capitalized $1.2 million and $0.8 million in deferred commissions costs during the three months ended March 31, 2024 and 2023, respectively, and recognized amortization of $1.2 million and $0.9 million during the three months ended March 31, 2024 and 2023, respectively. Amortization expense is included in sales and marketing expenses in the accompanying condensed consolidated statements of operations. Deferred commissions are considered costs to obtain a contract and are included in deferred costs in the accompanying condensed consolidated balance sheets in the amount of $21.2 million as of both March 31, 2024 and December 31, 2023. The Company capitalized implementation costs of $2.9 million and $2.1 million during the three months ended March 31, 2024 and 2023 respectively, and recognized amortization of $1.4 million and $1.1 million during the three months ended March 31, 2024 and 2023, respectively. Amortization expense is included in cost of revenues in the accompanying condensed consolidated statements of operations. These deferred costs are considered costs to fulfill client contracts and are included in deferred costs in the accompanying condensed consolidated balance sheets in the amount of $21.4 million and $19.8 million as of March 31, 2024 and December 31, 2023, respectively. The Company periodically reviews the carrying amount of deferred costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit. No material impairment losses were recognized in relation to these capitalized costs for the three months ended March 31, 2024 and 2023.

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable includes the following amounts at March 31, 2024 and December 31, 2023: March 31, December 31, (in thousands) 2024 2023 Trade accounts receivable $ 29,016 $ 30,111 Unbilled receivables 7,179 5,975 Total receivables 36,195 36,086 Allowance for credit losses (53) (59) Reserve for estimated credits (425) (528) $ 35,717 $ 35,499

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following at March 31, 2024 and December 31, 2023: March 31, December 31, (in thousands) 2024 2023 Bonus accrual $ 3,388 $ 7,798 Accrued vendor purchases 94 174 Commissions accrual 423 2,026 Accrued hosting services 397 428 Client refund liability 512 660 Accrued consulting and professional fees 571 713 Accrued tax liabilities 969 1,166 ESPP liability 2,204 682 Other accrued liabilities 8,344 6,116 Total accrued liabilities $ 16,902 $ 19,763

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt On June 27, 2023, the Company entered into a First Amendment (the “First Amendment”) to the Company’s Amended and Restated Credit Agreement dated as of April 29, 2022 (as amended by the First Amendment, the “Amended Credit Agreement”), with Silicon Valley Bank (“SVB”), Comerica Bank and Canadian Imperial Bank of Commerce. The First Amendment provided for Citibank, N.A. to join as a new lender, increased the amount of the Revolving Facility (as defined below) commitment by $20.0 million and extended the maturity date of the Amended Credit Agreement to April 29, 2026, as well as other changes discussed below. The Amended Credit Agreement, inclusive of changes established by the First Amendment, includes the following, among other features: • Revolving Facility: The Amended Credit Agreement provides $60.0 million in aggregate commitments for secured revolving loans (“Revolving Facility”), of which there were no outstanding borrowings as of March 31, 2024. • Term Loan: A term loan of $85.0 million (the “Term Loan”) was borrowed on April 29, 2022, the proceeds of which were used to replenish cash used to fund the acquisition of Segmint, which closed on April 25, 2022. On December 29, 2023, the Company paid the remaining outstanding principal balance of its term loan of $82.9 million. • Accordion Feature: The Amended Credit Agreement also permits the Company, subject to certain conditions, to request additional revolving loan commitments in an aggregate principal amount of up to $50.0 million, of which there were no outstanding borrowings as of March 31, 2024. Revolving Facility loans under the Amended Credit Agreement may be voluntarily prepaid and re-borrowed. Principal payments on the Term Loan are due in quarterly installments equal to an initial amount of approximately $1.1 million, beginning on June 30, 2023 and continuing through March 31, 2024, and increasing to approximately $2.1 million beginning on June 30, 2024 through the Amended Credit Agreement maturity date. Once repaid or prepaid, the Term Loan may not be re-borrowed. The First Amendment added additional covenants that begin each fiscal quarter ending on or after April 29, 2025 (the “Financial Covenant Trigger Date”). Before the Financial Covenant Trigger Date, borrowings under the Amended Credit Agreement bear interest at a variable rate based upon the Secured Overnight Financing Rate (the “SOFR”) plus a margin of 3.00% to 3.50% per annum depending on the applicable recurring revenue leverage ratio. After the Financial Covenant Trigger Date, borrowings under the Amended Credit Agreement bear interest at a variable rate based upon the SOFR plus a margin of 1.50%, 2.00%, 2.50% or 3.00% per annum depending on the applicable consolidated total leverage ratio. If the SOFR is ever less than 0%, then the SOFR shall be deemed to be 0%. The Amended Credit Agreement is subject to certain liquidity and operating covenants and includes customary representations and warranties, affirmative and negative covenants and events of default. The Company is required to pay a commitment fee of 0.25% per annum on the undrawn portion available under the Revolving Facility and variable fees on outstanding letters of credit. The Company has a standby letter of credit in the amount of $0.3 million, which serves as security under the lease relating to the Company’s office space that expires in 2033. Obligations under the Amended Credit Agreement are guaranteed by the Company’s subsidiaries and secured by all or substantially all of the assets of the Company and its subsidiaries pursuant to an Amended and Restated Guarantee and Collateral Agreement. The Amended Credit Agreement contains customary affirmative and negative covenants. Before the Financial Covenant Trigger Date, the following covenants are applicable: (i) an annual recurring revenue growth covenant requiring the loan parties to have recurring revenues in any four consecutive fiscal quarter period in an amount that is 10% greater than the recurring revenues for the corresponding four consecutive quarter period in the previous year; and (ii) a liquidity (defined as the aggregate amount of cash in bank accounts subject to a control agreement plus availability under the Revolving Facility) covenant, requiring the loan parties to have liquidity, tested on the last day of each calendar month, of $20.0 million or more. After the Financial Covenant Trigger Date, the existing annual recurring revenue growth and liquidity financial covenants are no longer applicable, and the following covenants take effect: (i) a consolidated total leverage ratio requiring the ratio, as calculated at the last day of such fiscal quarter for the period of 12 consecutive months then ending, to be less than 3.50:1.00; and (ii) a consolidated fixed charge ratio requiring the ratio, for any fiscal quarter ending as calculated at the last day of such fiscal quarter for the period of 12 consecutive months then ending, to be more than 1.25:1.00. The First Amendment also added, applicable beginning June 30, 2023, a free cash flow covenant requiring, as calculated at the last day of such fiscal quarter for the period of 12 consecutive months then ending, free cash flow to be not less than $(75.0) million for the fiscal quarters ended June 30, 2023 and September 30, 2023, respectively, and $(50.0) million for the fiscal quarter ended December 31, 2023 and each fiscal quarter ending thereafter. The Amended Credit Agreement also contains customary events of default, which if they occur, could result in the termination of commitments under the Amended Credit Agreement, the declaration that all outstanding loans are immediately due and payable in whole or in part, and the requirement to maintain cash collateral deposits in respect of outstanding letters of credit. The Company was in compliance with all covenants as of March 31, 2024.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stockholders' Equity	Stockholders' Equity Equity Compensation Plans Stock-based compensation expense was included in the condensed consolidated statements of operations as follows: Three months ended March 31, (in thousands) 2024 2023 Cost of revenues $ 1,178 $ 1,146 Research and development 3,998 3,775 Sales and marketing 2,031 1,590 General and administrative 6,345 4,733 Total stock-based compensation expenses $ 13,552 $ 11,244

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded income tax expense of $0.2 million for both the three months ended March 31, 2024 and 2023, resulting in an effective tax rate of (1.7)% and (1.2)%, respectively. The Company’s effective tax rate for the three months ended March 31, 2024 and March 31, 2023 differs from the statutory tax rate primarily due to the impact of the valuation allowance against its deferred tax assets and state tax expense. The Company recognizes deferred tax assets and liabilities based on the estimated future tax effects of temporary differences between the financial statement basis and tax basis of assets and liabilities given the provisions of enacted tax law. Management reviews deferred tax assets to assess their future realization by considering all available evidence, both positive and negative, to determine whether a valuation allowance is needed for all or some portion of the deferred tax assets, using a “more likely than not” standard. The assessment considers, among other matters: historical losses, future reversals of taxable temporary differences, the duration of statutory carryback and carryforward periods, and ongoing prudent and feasible tax planning strategies. As a result, the Company has established a valuation allowance against most of its deferred tax assets as realization is not reasonably assured based upon a “more likely than not” threshold. The Company reassesses the realizability of deferred tax assets regularly, and it will adjust the valuation allowance as sufficient objective positive evidence becomes available.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist primarily of cash, restricted cash and cash equivalents, marketable securities, accounts receivable and accounts payable. The carrying values of cash, restricted cash and cash equivalents, accounts receivable and accounts payable approximate their respective fair values due to the short-term nature of these instruments. Cash equivalents include amounts held in money market accounts that are measured at fair value using observable market prices. Marketable securities include debt securities that are measured at fair value using observable inputs. The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2. Significant other inputs that are directly or indirectly observable in the marketplace. Level 3. Significant unobservable inputs which are supported by little or no market activity. The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. The following tables summarize the Company’s financial assets measured at fair value as of March 31, 2024 and December 31, 2023 and indicate the fair value hierarchy of the valuation: Fair Value at Reporting Date Using (in thousands) March 31, 2024 Level 1 Level 2 Level 3 Assets: Cash equivalents (1) $ 37,235 $ 37,235 $ — $ — Marketable securities: Corporate bonds 11,656 — 11,656 — Commercial paper 6,978 — 6,978 — U.S. Treasury debt securities 22,325 22,325 — — International debt securities 2,166 — 2,166 — Total marketable securities 43,125 22,325 20,800 — Total Assets $ 80,360 $ 59,560 $ 20,800 $ — (1) Includes insured cash sweep account, cash sweep account, money market account and money market funds that have investments primarily in U.S. Government Agency debt, U.S. Treasury debt, U.S. Treasury Repurchase Agreements, U.S. Government Agency Repurchase Agreements, and corporate bonds that have a maturity of three months or less from the original acquisition date. Fair Value at Reporting Date Using (in thousands) December 31, 2023 Level 1 Level 2 Level 3 Assets: Cash equivalents (1) $ 34,463 $ 34,463 $ — $ — Marketable securities: Corporate bonds 16,206 — 16,206 — Commercial paper 7,279 — 7,279 — U.S. government-sponsored enterprise securities 3,500 — 3,500 — U.S. Treasury debt securities 22,067 22,067 — — International debt securities 2,144 — 2,144 — Total marketable securities 51,196 22,067 29,129 — Total Assets $ 85,659 $ 56,530 $ 29,129 $ — (1) Includes insured cash sweep account, cash sweep account, money market account and money market funds that have investments primarily in U.S. Government Agency debt, U.S. Treasury debt, U.S. Treasury Repurchase Agreements, U.S. Government Agency Repurchase Agreements and corporate bonds that have a maturity of three months or less from the original acquisition date.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic net loss per share attributable to common stockholders is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Because the Company has reported a net loss for the three months ended March 31, 2024 and 2023, the number of shares used to calculate diluted net loss per share attributable to common stockholders is the same as the number of shares used to calculate basic net loss per share attributable to common stockholders for the period presented because the potentially dilutive shares would have been anti-dilutive if included in the calculation. The computation of basic and diluted net loss per share attributable to common stockholders is as follows for the three months ended March 31, 2024 and 2023: Three months ended March 31, (in thousands, except shares and per share amounts) 2024 2023 Net loss $ (11,433) $ (16,963) Weighted-average shares of common stock outstanding - basic and diluted 96,945,232 92,397,341 Net loss per common share - basic and diluted $ (0.12) $ (0.18) For the three months ended March 31, 2024 and 2023, the following potential shares of common stock were excluded from diluted EPS as the Company had a net loss in each of the periods presented: As of March 31, 2024 2023 Stock options 3,589,090 5,781,937 RSUs (1) 8,198,201 9,535,540 ESPP 103,610 190,971 Total anti-dilutive common share equivalents 11,890,901 15,508,448 (1)

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings The Company may become party to various legal actions during the ordinary course of business. Defending such proceedings is costly and can impose a significant burden on management and employees, it may receive unfavorable preliminary or interim rulings during litigation, and there can be no assurances that favorable final outcomes will be obtained. In addition, the Company’s industry is characterized by the existence of a large number of patents, copyrights, trademarks, trade secrets and other intellectual property and proprietary rights. Companies in our industry are often required to defend against litigation claims based on allegations of infringement or other violations of intellectual property rights. Furthermore, client agreements typically require the Company to indemnify clients against liabilities incurred in connection with claims alleging its solutions infringe the intellectual property rights of a third party. From time to time, the Company has been involved in disputes related to patent and other intellectual property rights of third parties, none of which has resulted in material liabilities. The Company expects these types of disputes may continue to arise in the future. Based upon present information, the Company believes that its liability, if any, arising from such pending legal proceedings, asserted legal claims and known potential legal claims, which are likely to be asserted, is not reasonably likely to be material to the Company’s financial position, results of operations, or cash flows, taking into account established accruals for estimated liabilities.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Leases The Company leases office space under non-cancellable operating leases for its corporate headquarters in Plano, Texas pursuant to a ten-year lease agreement under which the Company leases approximately 125,468 square feet of office space with an initial term that expires on August 31, 2028, with the option to extend the lease for either two additional terms of five years each or one additional term of ten years. Renewal options were not included in the right-of-use (“ROU”) asset and lease liability calculation. On September 5, 2023, the Company entered into an amendment to its office lease, which, among other things, reduces the leased space in Plano, Texas from approximately 125,468 square feet to 83,939 square feet, effective December 31, 2023, and also extends the term for the remaining reduced leased space to August 31, 2033. The Company determined that the amendment would be treated as a lease modification. The modification resulted in a remeasurement of the operating lease ROU asset and lease liability, and the effect was an increase to the ROU asset and lease liability of $3.1 million and $2.7 million, respectively, as of December 31, 2023. In addition, the Company recorded a gain on lease modification of $0.4 million during the three months ended December 31, 2023, which was included in general and administrative expenses in the consolidated statements of operations. Operating lease expense consisted of: (in thousands) Three months ended March 31, 2024 2023 Operating lease expense $ 669 $ 784 Short-term lease expense and other (1) 303 318 Total lease expense $ 972 $ 1,102 (1) Other lease expense includes variable lease expense and sublease income. Supplemental Cash Flow Information Three months ended March 31, Cash flow information (in thousands) 2024 2023 Cash paid for operating lease liabilities $ 662 $ 938 The future maturities of operating lease liabilities are as follows: (in thousands) March 31, 2024 2024 (nine months remaining) $ 2,003 2025 2,707 2026 2,648 2027 2,620 2028 2,777 Thereafter 14,981 Total minimum lease payments 27,736 Less: present value discount (8,429) Total lease liability balance $ 19,307

Goodwill and Other Intangibles

Goodwill and Other Intangibles	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	Goodwill and Other Intangibles Goodwill and intangible assets deemed to have an indefinite life are not amortized, but are reviewed annually for impairment of value or when indicators of a potential impairment are present. As part of the Company’s business planning cycle, the Company performs an annual goodwill impairment test in the fourth quarter of the fiscal year. There were no indications of impairment of goodwill noted as of March 31, 2024. Goodwill had a carrying value of $148.1 million as of both March 31, 2024 and December 31, 2023. Total intangibles, net, consisted of the following as of March 31, 2024 and December 31, 2023: As of March 31, 2024 (in thousands) Carrying Value Accumulated Amortization Net Carrying Value Finite-lived: Customer Relationships $ 20,470 $ (3,161) $ 17,309 Developed Technology 27,700 (11,489) 16,211 Tradenames 750 (184) 566 Subtotal amortizable intangible assets 48,920 (14,834) 34,086 Website domain name 25 — 25 Total intangible assets $ 48,945 $ (14,834) $ 34,111 As of December 31, 2023 (in thousands) Carrying Value Accumulated Amortization Net Carrying Value Finite-lived: Customer Relationships $ 20,470 $ (2,820) $ 17,650 Developed Technology 27,700 (10,151) 17,549 Tradenames 750 (167) 583 Subtotal amortizable intangible assets 48,920 (13,138) 35,782 Website domain name 25 — 25 Total intangible assets $ 48,945 $ (13,138) $ 35,807 Amortization expense recognized on intangible assets was $1.7 million for both the three months ended March 31, 2024 and 2023. The following table shows the estimated annual amortization expense of the definite-lived intangible assets for the next five years and thereafter (in thousands): 2024 (remaining nine months) $ 5,090 2025 6,786 2026 6,554 2027 3,162 2028 1,435 Thereafter 11,059 $ 34,086

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (11,433)	$ (16,963)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
W. Bryan Hill [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On March 11, 2024, W. Bryan Hill, our Chief Financial Officer, adopted a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. Subject to certain conditions, the trading plan provides for the sale of up to 600,000 shares of our common stock (less shares withheld by the Company for the payment of taxes) through January 17, 2025, for a duration of 312 days.
Name	W. Bryan Hill
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 11, 2024
Arrangement Duration	312 days
Aggregate Available	600,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The interim unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All intercompany accounts and transactions are eliminated. In the Company's opinion, the accompanying interim unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, consisting of normal, recurring adjustments, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Certain information and disclosures normally included in the notes to the annual consolidated financial statements prepared in accordance with GAAP have been omitted from these interim unaudited condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the accompanying notes for the fiscal year ended December 31, 2023, which are included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 29, 2024. Operating results for the three months ended March 31, 2024 are not necessarily indicative of results that may be expected for any other interim period or for the year ending December 31, 2024. The Company has no sources of other comprehensive income, and accordingly, net loss presented each period is the same as comprehensive loss.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates and assumptions include determining the timing and amount of revenue recognition and business combinations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU No. 2023-07 amended the existing segment reporting requirements by requiring disclosure of the significant segment expenses based on how management internally views segment information and by allowing the disclosure of more than one measure of segment profit or loss, as well as by expanding the interim period segment requirements. The ASU also requires single-reportable segment entities to report the disclosures required under ASC Topic 280, Segment Reporting. ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU No 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 expands disclosures in the rate reconciliation and requires disclosure of income taxes paid by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. ASU 2023-09 should be applied prospectively; however, retrospective application is permitted. The Company is currently evaluating the impact the updated standard will have on its financial statement disclosures.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, includes the following amounts at March 31, 2024 and December 31, 2023: (in thousands) Useful Life March 31, 2024 December 31, 2023 Software 2 to 5 years $ 920 $ 920 Capitalized software development costs 5 years 13,808 12,263 Computers and equipment 3 years 6,584 6,359 Furniture and fixtures 5 years 3,988 3,988 Leasehold improvements 3 to 10 years 12,697 12,312 $ 37,997 $ 35,842 Less: accumulated depreciation and amortization (19,780) (18,896) Property and equipment, net $ 18,217 $ 16,946

Revenues and Deferred Costs (Ta

Revenues and Deferred Costs (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates the Company's revenue by major source for the three months ended March 31, 2024 and 2023: Three months ended March 31, (in thousands) 2024 2023 SaaS subscription services $ 73,012 $ 57,519 Implementation services 1,848 1,670 Other services 1,267 807 Total revenues $ 76,127 $ 59,996

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivable includes the following amounts at March 31, 2024 and December 31, 2023: March 31, December 31, (in thousands) 2024 2023 Trade accounts receivable $ 29,016 $ 30,111 Unbilled receivables 7,179 5,975 Total receivables 36,195 36,086 Allowance for credit losses (53) (59) Reserve for estimated credits (425) (528) $ 35,717 $ 35,499

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following at March 31, 2024 and December 31, 2023: March 31, December 31, (in thousands) 2024 2023 Bonus accrual $ 3,388 $ 7,798 Accrued vendor purchases 94 174 Commissions accrual 423 2,026 Accrued hosting services 397 428 Client refund liability 512 660 Accrued consulting and professional fees 571 713 Accrued tax liabilities 969 1,166 ESPP liability 2,204 682 Other accrued liabilities 8,344 6,116 Total accrued liabilities $ 16,902 $ 19,763

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	Stock-based compensation expense was included in the condensed consolidated statements of operations as follows: Three months ended March 31, (in thousands) 2024 2023 Cost of revenues $ 1,178 $ 1,146 Research and development 3,998 3,775 Sales and marketing 2,031 1,590 General and administrative 6,345 4,733 Total stock-based compensation expenses $ 13,552 $ 11,244

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets Measured at Fair Value	The following tables summarize the Company’s financial assets measured at fair value as of March 31, 2024 and December 31, 2023 and indicate the fair value hierarchy of the valuation: Fair Value at Reporting Date Using (in thousands) March 31, 2024 Level 1 Level 2 Level 3 Assets: Cash equivalents (1) $ 37,235 $ 37,235 $ — $ — Marketable securities: Corporate bonds 11,656 — 11,656 — Commercial paper 6,978 — 6,978 — U.S. Treasury debt securities 22,325 22,325 — — International debt securities 2,166 — 2,166 — Total marketable securities 43,125 22,325 20,800 — Total Assets $ 80,360 $ 59,560 $ 20,800 $ — (1) Includes insured cash sweep account, cash sweep account, money market account and money market funds that have investments primarily in U.S. Government Agency debt, U.S. Treasury debt, U.S. Treasury Repurchase Agreements, U.S. Government Agency Repurchase Agreements, and corporate bonds that have a maturity of three months or less from the original acquisition date. Fair Value at Reporting Date Using (in thousands) December 31, 2023 Level 1 Level 2 Level 3 Assets: Cash equivalents (1) $ 34,463 $ 34,463 $ — $ — Marketable securities: Corporate bonds 16,206 — 16,206 — Commercial paper 7,279 — 7,279 — U.S. government-sponsored enterprise securities 3,500 — 3,500 — U.S. Treasury debt securities 22,067 22,067 — — International debt securities 2,144 — 2,144 — Total marketable securities 51,196 22,067 29,129 — Total Assets $ 85,659 $ 56,530 $ 29,129 $ — (1) Includes insured cash sweep account, cash sweep account, money market account and money market funds that have investments primarily in U.S. Government Agency debt, U.S. Treasury debt, U.S. Treasury Repurchase Agreements, U.S. Government Agency Repurchase Agreements and corporate bonds that have a maturity of three months or less from the original acquisition date.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share, Basic and Diluted	The computation of basic and diluted net loss per share attributable to common stockholders is as follows for the three months ended March 31, 2024 and 2023: Three months ended March 31, (in thousands, except shares and per share amounts) 2024 2023 Net loss $ (11,433) $ (16,963) Weighted-average shares of common stock outstanding - basic and diluted 96,945,232 92,397,341 Net loss per common share - basic and diluted $ (0.12) $ (0.18)
Schedule of Antidilutive Securities	For the three months ended March 31, 2024 and 2023, the following potential shares of common stock were excluded from diluted EPS as the Company had a net loss in each of the periods presented: As of March 31, 2024 2023 Stock options 3,589,090 5,781,937 RSUs (1) 8,198,201 9,535,540 ESPP 103,610 190,971 Total anti-dilutive common share equivalents 11,890,901 15,508,448 (1)

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Operating Lease Expense	Operating lease expense consisted of: (in thousands) Three months ended March 31, 2024 2023 Operating lease expense $ 669 $ 784 Short-term lease expense and other (1) 303 318 Total lease expense $ 972 $ 1,102 (1) Other lease expense includes variable lease expense and sublease income. Supplemental Cash Flow Information Three months ended March 31, Cash flow information (in thousands) 2024 2023 Cash paid for operating lease liabilities $ 662 $ 938
Schedule of Lessee, Operating Lease, Liability, Maturity	The future maturities of operating lease liabilities are as follows: (in thousands) March 31, 2024 2024 (nine months remaining) $ 2,003 2025 2,707 2026 2,648 2027 2,620 2028 2,777 Thereafter 14,981 Total minimum lease payments 27,736 Less: present value discount (8,429) Total lease liability balance $ 19,307

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Total intangibles, net, consisted of the following as of March 31, 2024 and December 31, 2023: As of March 31, 2024 (in thousands) Carrying Value Accumulated Amortization Net Carrying Value Finite-lived: Customer Relationships $ 20,470 $ (3,161) $ 17,309 Developed Technology 27,700 (11,489) 16,211 Tradenames 750 (184) 566 Subtotal amortizable intangible assets 48,920 (14,834) 34,086 Website domain name 25 — 25 Total intangible assets $ 48,945 $ (14,834) $ 34,111 As of December 31, 2023 (in thousands) Carrying Value Accumulated Amortization Net Carrying Value Finite-lived: Customer Relationships $ 20,470 $ (2,820) $ 17,650 Developed Technology 27,700 (10,151) 17,549 Tradenames 750 (167) 583 Subtotal amortizable intangible assets 48,920 (13,138) 35,782 Website domain name 25 — 25 Total intangible assets $ 48,945 $ (13,138) $ 35,807
Schedule of Indefinite-Lived Intangible Assets	Total intangibles, net, consisted of the following as of March 31, 2024 and December 31, 2023: As of March 31, 2024 (in thousands) Carrying Value Accumulated Amortization Net Carrying Value Finite-lived: Customer Relationships $ 20,470 $ (3,161) $ 17,309 Developed Technology 27,700 (11,489) 16,211 Tradenames 750 (184) 566 Subtotal amortizable intangible assets 48,920 (14,834) 34,086 Website domain name 25 — 25 Total intangible assets $ 48,945 $ (14,834) $ 34,111 As of December 31, 2023 (in thousands) Carrying Value Accumulated Amortization Net Carrying Value Finite-lived: Customer Relationships $ 20,470 $ (2,820) $ 17,650 Developed Technology 27,700 (10,151) 17,549 Tradenames 750 (167) 583 Subtotal amortizable intangible assets 48,920 (13,138) 35,782 Website domain name 25 — 25 Total intangible assets $ 48,945 $ (13,138) $ 35,807
Schedule of Definite-Lived Intangible Assets, Future Amortization Expense	The following table shows the estimated annual amortization expense of the definite-lived intangible assets for the next five years and thereafter (in thousands): 2024 (remaining nine months) $ 5,090 2025 6,786 2026 6,554 2027 3,162 2028 1,435 Thereafter 11,059 $ 34,086

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 900,000	$ 900,000
Amortization of stock-based compensation	13,552,000	11,244,000
Software Development Costs
Property, Plant and Equipment [Line Items]
Stock based compensation capitalized	200,000	200,000
Amortization of stock-based compensation	$ 100,000	$ 0

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 37,997	$ 35,842
Less: accumulated depreciation and amortization	(19,780)	(18,896)
Property and equipment, net	18,217	16,946
Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 920	920
Software | Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	2 years
Software | Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Capitalized software development costs
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Property and equipment, gross	$ 13,808	12,263
Computers and equipment
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years
Property and equipment, gross	$ 6,584	6,359
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Property and equipment, gross	$ 3,988	3,988
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 12,697	$ 12,312
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	10 years

Revenues and Deferred Costs - D

Revenues and Deferred Costs - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 76,127	$ 59,996
SaaS subscription services
Disaggregation of Revenue [Line Items]
Total revenues	73,012	57,519
Implementation services
Disaggregation of Revenue [Line Items]
Total revenues	1,848	1,670
Other services
Disaggregation of Revenue [Line Items]
Total revenues	$ 1,267	$ 807

Revenues and Deferred Costs - N

Revenues and Deferred Costs - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue recognized during period	$ 2,400,000
Remaining performance obligation, amount	1,200,000,000
Contract assets	1,400,000		$ 1,500,000
Impairment loss on deferred costs	$ 0	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation (as a percent)	45.90%
Remaining performance obligation, period	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation (as a percent)	34.80%
Remaining performance obligation, period	24 months
Deferred Commissions Costs
Disaggregation of Revenue [Line Items]
Capitalized cost during period	$ 1,200,000	800,000
Amortization of capitalized costs	1,200,000	900,000
Deferred commissions	21,200,000		21,200,000
Deferred Implementation Costs
Disaggregation of Revenue [Line Items]
Capitalized cost during period	2,900,000	2,100,000
Amortization of capitalized costs	1,400,000	$ 1,100,000
Deferred commissions	$ 21,400,000		$ 19,800,000

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 36,195	$ 36,086
Allowance for credit losses	(53)	(59)
Reserve for estimated credits	(425)	(528)
Accounts receivable, net	35,717	35,499
Trade accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	29,016	30,111
Unbilled receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 7,179	$ 5,975

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Bonus accrual	$ 3,388	$ 7,798
Accrued vendor purchases	94	174
Commissions accrual	423	2,026
Accrued hosting services	397	428
Client refund liability	512	660
Accrued consulting and professional fees	571	713
Accrued tax liabilities	969	1,166
ESPP liability	2,204	682
Other accrued liabilities	8,344	6,116
Total accrued liabilities	$ 16,902	$ 19,763

Debt (Details)

Debt (Details)					3 Months Ended
	Apr. 30, 2025	Dec. 29, 2023 USD ($)	Jun. 27, 2023 USD ($)	Apr. 29, 2022 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Apr. 29, 2025	Mar. 31, 2024 USD ($)
Line of Credit | Amended Credit Agreement
Debt Instrument [Line Items]
Revenue growth requirement (as a percent)				10%
Liquidity requirement				$ 20,000,000
Covenant, required free cash flow					$ (50,000,000)
Line of Credit | Amended Credit Agreement | Forecast
Debt Instrument [Line Items]
Maximum consolidated total leverage ratio								3.50
Minimum consolidated fixed charge ratio								1.25
Line of Credit | Amended Credit Agreement | Minimum
Debt Instrument [Line Items]
Covenant, required free cash flow						$ (75,000,000)	$ (75,000,000)
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Line of credit, unused capacity, commitment fee (as a percent)			0.25%
Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			0%
Basis spread on variable rate, maximum (as a percent)			0%
Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate | Component One | Forecast
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.50%
Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate | Component Two | Forecast
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2%
Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate | Component Three | Forecast
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.50%
Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate | Component Four | Forecast
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	3%
Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			3%
Revolving Credit Facility | Line of Credit | Secured Overnight Financing Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			3.50%
Revolving Credit Facility | Line of Credit | Amended Credit Agreement
Debt Instrument [Line Items]
Increase to maximum borrowing capacity			$ 20,000,000
Line of credit, maximum borrowing capacity			60,000,000
Long term debt									$ 0
Accordion feature			$ 50,000,000
Term Loan | Line of Credit | Amended Credit Agreement
Debt Instrument [Line Items]
Proceeds from borrowings of term loan				85,000,000
Outstanding principal balance		$ 82,900,000
Quarterly installment payments				1,100,000
Increase in quarterly installment payments				$ 2,100,000
Standby Letters of Credit
Debt Instrument [Line Items]
Long term debt									$ 300,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 13,552	$ 11,244
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	1,178	1,146
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	3,998	3,775
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	2,031	1,590
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expenses	$ 6,345	$ 4,733

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit) (less than $0.1 million)	$ 189	$ 196
Effective income tax rate (as a percent)	(1.70%)	(1.20%)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets:
Marketable securities:	$ 43,125	$ 51,196
Total Assets	80,360	85,659
Corporate bonds
Assets:
Marketable securities:	11,656	16,206
Commercial paper
Assets:
Marketable securities:	6,978	7,279
U.S. government-sponsored enterprise securities
Assets:
Marketable securities:		3,500
U.S. Treasury debt securities
Assets:
Marketable securities:	22,325	22,067
International debt securities
Assets:
Marketable securities:	2,166	2,144
Level 1
Assets:
Marketable securities:	22,325	22,067
Total Assets	59,560	56,530
Level 1 | Corporate bonds
Assets:
Marketable securities:	0	0
Level 1 | Commercial paper
Assets:
Marketable securities:	0	0
Level 1 | U.S. government-sponsored enterprise securities
Assets:
Marketable securities:		0
Level 1 | U.S. Treasury debt securities
Assets:
Marketable securities:	22,325	22,067
Level 1 | International debt securities
Assets:
Marketable securities:	0	0
Level 2
Assets:
Marketable securities:	20,800	29,129
Total Assets	20,800	29,129
Level 2 | Corporate bonds
Assets:
Marketable securities:	11,656	16,206
Level 2 | Commercial paper
Assets:
Marketable securities:	6,978	7,279
Level 2 | U.S. government-sponsored enterprise securities
Assets:
Marketable securities:		3,500
Level 2 | U.S. Treasury debt securities
Assets:
Marketable securities:	0	0
Level 2 | International debt securities
Assets:
Marketable securities:	2,166	2,144
Level 3
Assets:
Marketable securities:	0	0
Total Assets	0	0
Level 3 | Corporate bonds
Assets:
Marketable securities:	0	0
Level 3 | Commercial paper
Assets:
Marketable securities:	0	0
Level 3 | U.S. government-sponsored enterprise securities
Assets:
Marketable securities:		0
Level 3 | U.S. Treasury debt securities
Assets:
Marketable securities:	0	0
Level 3 | International debt securities
Assets:
Marketable securities:	0	0
Cash Equivalents
Assets:
Cash equivalents	37,235	34,463
Cash Equivalents | Level 1
Assets:
Cash equivalents	37,235	34,463
Cash Equivalents | Level 2
Assets:
Cash equivalents	0	0
Cash Equivalents | Level 3
Assets:
Cash equivalents	$ 0	$ 0

Earnings Per Share - Computatio

Earnings Per Share - Computation of Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net loss	$ (11,433)	$ (16,963)
Weighted-average shares of common stock outstanding - basic (in shares)	96,945,232	92,397,341
Weighted-average shares of common stock outstanding - diluted (in shares)	96,945,232	92,397,341
Net loss per common share - basic (in dollars per share)	$ (0.12)	$ (0.18)
Net loss per common share - diluted (in dollars per share)	$ (0.12)	$ (0.18)

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Antidilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	11,890,901	15,508,448
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	3,589,090	5,781,937
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	8,198,201	9,535,540
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive common share equivalents (in shares)	103,610	190,971

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions		3 Months Ended
	Dec. 31, 2023 USD ($) ft²	Mar. 31, 2024 ft² additional_term	Dec. 31, 2023 USD ($) ft²	Dec. 30, 2023 ft²
Lessee, Lease, Description [Line Items]
Operating lease, term (in years)		10 years
Office space (in square feet) | ft²	83,939	125,468	83,939	125,468
Increase in right of use assets	$ 3.1
Increase in lease liability	$ 2.7
Gain on lease modification			$ 0.4
Office Space Lease, Five Year Additional Term
Lessee, Lease, Description [Line Items]
Operating lease, number of additional terms | additional_term		2
Operating lease, additional term (in years)		5 years
Office Space Lease, Ten Year Additional Term
Lessee, Lease, Description [Line Items]
Operating lease, number of additional terms | additional_term		1
Operating lease, additional term (in years)		10 years

Leases - Operating Lease Expens

Leases - Operating Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease expense	$ 669	$ 784
Short-term lease expense and other	303	318
Total lease expense	972	1,102
Cash paid for operating lease liabilities	$ 662	$ 938

Leases - Schedule of Future Mat

Leases - Schedule of Future Maturities of Operating Leases (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
2024 (nine months remaining)	$ 2,003
2025	2,707
2026	2,648
2027	2,620
2028	2,777
Thereafter	14,981
Total minimum lease payments	27,736
Less: present value discount	(8,429)
Total lease liability balance	$ 19,307

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 148,050		$ 148,050
Amortization of acquired intangibles	$ 1,700	$ 1,700

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Schedule of Total Intangibles, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Carrying Value	$ 48,920	$ 48,920
Accumulated Amortization	(14,834)	(13,138)
Net Carrying Value	34,086	35,782
Website domain name	25	25
Total carrying value, gross	48,945	48,945
Total net carrying value	34,111	35,807
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Carrying Value	20,470	20,470
Accumulated Amortization	(3,161)	(2,820)
Net Carrying Value	17,309	17,650
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Carrying Value	27,700	27,700
Accumulated Amortization	(11,489)	(10,151)
Net Carrying Value	16,211	17,549
Tradenames
Finite-Lived Intangible Assets [Line Items]
Carrying Value	750	750
Accumulated Amortization	(184)	(167)
Net Carrying Value	$ 566	$ 583

Goodwill and Other Intangible_4

Goodwill and Other Intangibles - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (remaining nine months)	$ 5,090
2025	6,786
2026	6,554
2027	3,162
2028	1,435
Thereafter	11,059
Net Carrying Value	$ 34,086	$ 35,782