NerdWallet (NRDS) 10-Q 26 Oct 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Oct. 20, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-40994
Entity Registrant Name	NerdWallet, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-4180440
Entity Address, Address Line One	55 Hawthorne Street
Entity Address, Address Line Two	11th Floor
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	549-8913
Title of 12(b) Security	Class A common stock, $0.0001 par value
Trading Symbol	NRDS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0001625278
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		44,439,538
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		31,685,652

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 86.6	$ 83.9
Accounts receivable—net	84.4	87
Prepaid expenses and other current assets	23.8	18.3
Total current assets	194.8	189.2
Property, equipment and software—net	52.8	49.1
Goodwill	111.3	111.2
Intangible assets—net	50.5	64.1
Right-of-use assets	9.2	11.3
Other assets	2.2	0.8
Total Assets	420.8	425.7
Current liabilities:
Accounts payable	13.1	3.6
Accrued expenses and other current liabilities	31.9	37.9
Contingent consideration—current	0	30.9
Total current liabilities	45	72.4
Other liabilities—noncurrent	11.6	11.6
Total liabilities	56.6	84
Commitments and contingencies (Note 7)
Stockholders’ equity:
Preferred stock—$0.0001 par value per share—5,000 shares authorized; zero shares issued and outstanding	0	0
Common stock—$0.0001 par value per share—296,686 shares authorized; 76,994 and 75,120 shares issued and outstanding as of September 30, 2023 and December 31, 2022	0	0
Additional paid-in capital	471.2	427.3
Accumulated other comprehensive loss	(0.7)	(0.9)
Accumulated deficit	(106.3)	(84.7)
Total stockholders’ equity	364.2	341.7
Total Liabilities and Stockholders’ Equity	$ 420.8	$ 425.7

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per shares)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per shares)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	296,686,000	296,686,000
Common stock, issued (in shares)	76,994,000	75,120,000
Common stock, outstanding (in shares)	76,994,000	75,120,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 152.8	$ 142.6	$ 465.7	$ 396.9
Costs and Expenses:
Cost of revenue	13.3	11.7	40.2	27.6
Research and development	20.7	20.7	60.2	58.2
Sales and marketing	100.6	103.2	321.1	288.1
General and administrative	14.2	15.4	45.2	43.8
Change in fair value of contingent consideration related to earnouts	0	0.4	0	6.1
Total costs and expenses	148.8	151.4	466.7	423.8
Income (Loss) From Operations	4	(8.8)	(1)	(26.9)
Other income (expense), net:
Interest income	0.9	0.5	2.7	0.6
Interest expense	(0.2)	(0.9)	(0.6)	(1.3)
Other losses, net	0	0	(0.1)	0
Total other income (expense), net	0.7	(0.4)	2	(0.7)
Income (loss) before income taxes	4.7	(9.2)	1	(27.6)
Income tax provision (benefit)	5.2	(9.9)	10.5	(8.5)
Net Income (Loss)	$ (0.5)	$ 0.7	$ (9.5)	$ (19.1)
Net Income (Loss) Per Share Attributable to Common Stockholders
Basic (in dollars per share)	$ (0.01)	$ 0.01	$ (0.12)	$ (0.28)
Diluted (in dollars per share)	$ (0.01)	$ 0.01	$ (0.12)	$ (0.28)
Weighted-Average Shares Used in Computing Net Income (Loss) Per Share Attributable to Common Stockholders
Basic (in shares)	77.5	73.4	76.7	69.2
Diluted (in shares)	77.5	75	76.7	69.2

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (0.5)	$ 0.7	$ (9.5)	$ (19.1)
Other Comprehensive Income (Loss):
Change in foreign currency translation	(0.2)	(1.1)	0.2	(2.4)
Comprehensive Loss	$ (0.7)	$ (0.4)	$ (9.3)	$ (21.5)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Millions	Total	Common Class A	Common Stock	Common Stock Common Class A	Additional Paid-in Capital	Additional Paid-in Capital Common Class A	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Accumulated Deficit Common Class A
Beginning balance (in shares) at Dec. 31, 2021			66,722
Beginning balance at Dec. 31, 2021	$ 257.6		$ 0		$ 331.6		$ 0.5	$ (74.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)			154
Issuance of Class A common stock upon exercise of stock options	0.7				0.7
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)			262
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Stock-based compensation	7.9				7.9
Other comprehensive income (loss)	(0.3)						(0.3)
Net income (loss)	(10.5)							(10.5)
Ending balance (in shares) at Mar. 31, 2022			67,138
Ending balance at Mar. 31, 2022	255.4		$ 0		340.2		0.2	(85)
Beginning balance (in shares) at Dec. 31, 2021			66,722
Beginning balance at Dec. 31, 2021	257.6		$ 0		331.6		0.5	(74.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(19.1)
Ending balance (in shares) at Sep. 30, 2022			74,322
Ending balance at Sep. 30, 2022	318.6		$ 0		414.1		(1.9)	(93.6)
Beginning balance (in shares) at Mar. 31, 2022			67,138
Beginning balance at Mar. 31, 2022	255.4		$ 0		340.2		0.2	(85)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)			629
Issuance of Class A common stock upon exercise of stock options	3.6				3.6
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)			400
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Issuance of Class A common stock under Employee Stock Purchase Plan (in shares)				470
Issuance of Class A common stock under Employee Stock Purchase Plan		$ 3.2				$ 3.2
Stock-based compensation	11.6				11.6
Other comprehensive income (loss)	(1)						(1)
Net income (loss)	(9.3)							(9.3)
Ending balance (in shares) at Jun. 30, 2022			68,637
Ending balance at Jun. 30, 2022	263.5		$ 0		358.6		(0.8)	(94.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)			343
Issuance of Class A common stock upon exercise of stock options	1.9				1.9
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)			424
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)				(17)
Class A common stock withheld related to net share settlement of restricted stock units		(0.1)				(0.1)
Issuance of Class A common stock for business combination (in shares)			4,935
Issuance of Class A common stock for business combination	43.2				43.2
Stock-based compensation	10.5				10.5
Other comprehensive income (loss)	(1.1)						(1.1)
Net income (loss)	0.7							0.7
Ending balance (in shares) at Sep. 30, 2022			74,322
Ending balance at Sep. 30, 2022	$ 318.6		$ 0		414.1		(1.9)	(93.6)
Beginning balance (in shares) at Dec. 31, 2022	75,120		75,120
Beginning balance at Dec. 31, 2022	$ 341.7		$ 0		427.3		(0.9)	(84.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)			1,226
Issuance of Class A common stock upon exercise of stock options	8.4				8.4
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)			380
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)				(15)
Class A common stock withheld related to net share settlement of restricted stock units		$ (0.3)				(0.3)
Stock-based compensation	10.1				10.1
Other comprehensive income (loss)	0.2						0.2
Net income (loss)	1.7							1.7
Ending balance (in shares) at Mar. 31, 2023			76,711
Ending balance at Mar. 31, 2023	$ 361.8		$ 0		445.5		(0.7)	(83)
Beginning balance (in shares) at Dec. 31, 2022	75,120		75,120
Beginning balance at Dec. 31, 2022	$ 341.7		$ 0		427.3		(0.9)	(84.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of Class A common stock (in shares)		(1,300)
Repurchase of Class A common stock		$ (12.1)
Net income (loss)	$ (9.5)
Ending balance (in shares) at Sep. 30, 2023	76,994		76,994
Ending balance at Sep. 30, 2023	$ 364.2		$ 0		471.2		(0.7)	(106.3)
Beginning balance (in shares) at Mar. 31, 2023			76,711
Beginning balance at Mar. 31, 2023	361.8		$ 0		445.5		(0.7)	(83)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)			66
Issuance of Class A common stock upon exercise of stock options	0.4				0.4
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)			674
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)				(25)
Class A common stock withheld related to net share settlement of restricted stock units		(0.2)				(0.2)
Issuance of Class A common stock under Employee Stock Purchase Plan (in shares)				240
Issuance of Class A common stock under Employee Stock Purchase Plan		1.9				1.9
Repurchase of Class A common stock (in shares)				(141)
Repurchase of Class A common stock		(1.3)							$ (1.3)
Stock-based compensation	12.9				12.9
Other comprehensive income (loss)	0.2						0.2
Net income (loss)	(10.7)							(10.7)
Ending balance (in shares) at Jun. 30, 2023			77,525
Ending balance at Jun. 30, 2023	365		$ 0		460.5		(0.5)	(95)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)			51
Issuance of Class A common stock upon exercise of stock options	0.3				0.3
Issuance of Class A common stock pursuant to settlement of restricted stock units (in shares)			657
Issuance of Class A common stock pursuant to settlement of restricted stock units	0
Class A common stock withheld related to net share settlement of restricted stock units (in shares)				(30)
Class A common stock withheld related to net share settlement of restricted stock units		$ (0.2)				$ (0.2)
Repurchase of Class A common stock (in shares)		(1,200)		(1,209)
Repurchase of Class A common stock		$ (10.8)							$ (10.8)
Stock-based compensation	10.6				10.6
Other comprehensive income (loss)	(0.2)						(0.2)
Net income (loss)	$ (0.5)							(0.5)
Ending balance (in shares) at Sep. 30, 2023	76,994		76,994
Ending balance at Sep. 30, 2023	$ 364.2		$ 0		$ 471.2		$ (0.7)	$ (106.3)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating Activities:
Net Income (Loss)	$ (9.5)	$ (19.1)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	36	25.6
Stock-based compensation	29.3	25.3
Change in fair value of contingent consideration related to earnouts	0	6.1
Deferred taxes	(0.4)	(12.5)
Non-cash lease costs	2.1	2
Other, net	1.2	0.9
Changes in operating assets and liabilities:
Accounts receivable	1.6	(18.7)
Prepaid expenses and other assets	(6.2)	(2)
Accounts payable	7.6	(4)
Accrued expenses and other current liabilities	(5.9)	15.9
Payment of contingent consideration	(14)	(11.5)
Operating lease liabilities	(2.3)	(1.7)
Other liabilities	3	(1.4)
Net cash provided by operating activities	42.5	4.9
Investing Activities:
Capitalized software development costs	(19.6)	(20.5)
Purchase of property and equipment	(0.5)	(4.3)
Business combination, net of cash acquired	0	(69.5)
Net cash used in investing activities	(20.1)	(94.3)
Financing Activities:
Payment of contingent consideration	(16.9)	(19)
Proceeds from line of credit	7.5	70
Payments on line of credit	(7.5)	0
Payment of debt issuance costs	(1.1)	0
Proceeds from exercise of stock options	9.1	6.2
Issuance of Class A common stock under Employee Stock Purchase Plan	1.9	3.2
Repurchase of Class A common stock	(12.1)	0
Tax payments related to net-share settlements on restricted stock units	(0.7)	(0.1)
Net cash provided by (used in) financing activities	(19.8)	60.3
Effect of exchange rate changes on cash and cash equivalents	0.1	(0.3)
Net increase (decrease) in cash and cash equivalents	2.7	(29.4)
Cash and Cash Equivalents:
Beginning of period	83.9	167.8
End of period	86.6	138.4
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Capitalized software development costs recorded in accounts payable and accrued expenses and other current liabilities	2.6	1.1
Supplemental Disclosures of Cash Flow Information:
Income tax payments	11.7	3.1
Cash paid for interest	0.3	0.8
Supplemental Cash Flow Disclosure Related to Operating Leases:
Cash paid for amounts included in the measurement of lease liabilities	$ 2.7	$ 2.2

The Company and Basis of Presen

The Company and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Basis of Presentation	The Company and Basis of Presentation The Company— NerdWallet, Inc., a Delaware corporation, was formed on December 29, 2011. NerdWallet, Inc. and its wholly-owned subsidiaries (collectively, the Company) provide consumer-driven advice about personal finance through its platform by connecting individuals and small and mid-sized businesses (SMBs) with providers of financial products. Basis of Presentation— The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission regarding interim financial reporting. Accordingly, the accompanying unaudited interim condensed consolidated financial statements do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements, and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the Company’s financial position and results of operations for the periods presented. The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the full year or any other future period. Concentrations of Credit Risk— Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. While the Company deposits cash and cash equivalents with high credit quality financial institutions, including First Citizens Bank & Trust Company (through its Silicon Valley Bank division), HSBC and JPMorgan Chase Bank, N.A., to lessen the Company’s exposure, such cash deposits may exceed federally insured limits at these financial institutions. To mitigate the risk associated with deposits exceeding federally insured limits, the Company manages exposure by utilizing deposit accounts which include sweep features to third-party money market funds, with total money market funds of $64.2 million and $75.4 million as of September 30, 2023 and December 31, 2022, respectively. Based on these facts, collectability of bank balances appears to be adequately assured. Significant Accounting Policies —During the nine months ended September 30, 2023, there have been no material changes to the Company’s significant accounting policies as disclosed in Note 1–The Company and its Significant Accounting Policies in the notes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following presents a disaggregation of the Company’s revenue based on product category: Three Months Ended Nine Months Ended (in millions) 2023 2022 2023 2022 Credit cards $ 54.0 $ 57.4 $ 166.5 $ 157.2 Loans 32.9 28.4 78.0 86.7 Other verticals 65.9 56.8 221.2 153.0 Total revenue $ 152.8 $ 142.6 $ 465.7 $ 396.9 The contract asset recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet related to estimated variable consideration was $6.9 million and $5.8 million as of September 30, 2023 and December 31, 2022, respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows: (in millions) Quoted Prices Other Significant Total As of September 30, 2023 Assets: Cash and cash equivalents—money market funds $ 64.2 $ — $ — $ 64.2 Certificate of deposit — 2.1 — 2.1 $ 64.2 $ 2.1 $ — $ 66.3 (in millions) Quoted Prices Other Significant Total As of December 31, 2022 Assets: Cash and cash equivalents—money market funds $ 75.4 $ — $ — $ 75.4 Certificate of deposit — 2.0 — 2.0 $ 75.4 $ 2.0 $ — $ 77.4 Liabilities: Contingent consideration $ — $ — $ 30.9 $ 30.9 Level 3 liabilities previously consisted entirely of contingent consideration, and the changes in fair value were as follows: Three Months Ended Nine Months Ended (in millions) 2023 2022 2023 2022 Balance as of beginning of period $ — $ 29.9 $ 30.9 $ 54.7 Payment — — (30.9) (30.5) Change in fair value, recognized in earnings — 0.4 — 6.1 Balance as of end of period $ — $ 30.3 $ — $ 30.3 As of December 31, 2022, Fundera Inc.’s revenue and profitability milestones for 2022 were achieved and the contingent consideration liability was recorded at the full payout amount, with the contingent consideration liability paid in full during the nine months ended September 30, 2023.

Significant Condensed Consolida

Significant Condensed Consolidated Balance Sheet Components	9 Months Ended
	Sep. 30, 2023
Significant Consolidated Balance Sheet Components [Abstract]
Significant Condensed Consolidated Balance Sheet Components	Significant Condensed Consolidated Balance Sheet Components Property, equipment and software, net includes capitalized software development costs, net of accumulated amortization, of $48.7 million and $43.9 million as of September 30, 2023 and December 31, 2022, respectively. The Company capitalized $7.9 million and $25.7 million of software development costs during the three and nine months ended September 30, 2023, respectively, and $8.9 million and $25.8 million during the three and nine months ended September 30, 2022, respectively. The Company recorded amortization expense related to capitalized software development costs of $7.3 million and $20.9 million during the three and nine months ended September 30, 2023, respectively, and $5.7 million and $16.0 million during the three and nine months ended September 30, 2022, respectively. Accrued expenses and other current liabilities Other liabilities—noncurrent

Business Combination

Business Combination	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combination	Business Combination On the Barrelhead, Inc. —On July 11, 2022, the Company completed the acquisition of On the Barrelhead, Inc. (OTB), a data-driven platform that provides consumers and SMBs with credit-driven product recommendations. See Note 5–Business Combinations in the notes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for further discussion on the acquisition of OTB. Unaudited Pro Forma Financial Information The following unaudited pro forma financial information is presented as if the OTB acquisition, including the related debt financing, was completed on January 1, 2021. The pro forma financial information includes the historical operating results of the Company and OTB prior to the acquisition, with adjustments directly attributable to the acquisition. Pro forma adjustments have been made to reflect the incremental intangible asset amortization to be incurred based on the fair values and useful lives of each identifiable intangible asset, incremental stock-based compensation related to inducement equity awards, incremental compensation related to cash retention agreements, incremental interest expense related to debt drawn to finance the cash portion of the purchase price, the adjustment of acquisition-related expenses, and the related tax effects of pro forma adjustments for the period. The unaudited pro forma financial information is as follows: Three Months Ended Nine Months Ended (in millions) September 30, 2022 Revenue $ 144.8 $ 441.9 Net loss (10.1) (34.4) The unaudited pro forma financial information is not intended to present, or be indicative of, what the results of operations would have been for the combined company for the period presented had the acquisition actually occurred on January 1, 2021, nor is it meant to be indicative of results of operations that may be achieved by the combined company in the future. The unaudited pro forma financial information does not include any cost savings or other synergies that resulted, or may result, from the OTB acquisition or any estimated costs that will be incurred to integrate OTB. Future results may vary significantly from the results reflected in this unaudited pro forma financial information because of future events and transactions, as well as other factors.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Credit Facility —On September 26, 2023, NerdWallet, Inc. and three of its wholly-owned subsidiaries entered into a credit agreement (the Credit Agreement) with JPMorgan Chase Bank, National Association. as Administrative Agent, and a syndicate of lenders. The Credit Agreement provides for a $125.0 million senior secured revolving credit facility (the Credit Facility), with the option to increase up to an additional $75.0 million, and is available to be used by the Company and certain of its domestic subsidiaries for general corporate purposes, including acquisitions. The Credit Agreement includes a letter of credit sub-facility in the aggregate amount of $10.0 million and a swingline sub-facility in the aggregate amount of $10.0 million. The Credit Facility is secured by substantially all of the Company’s assets. The Company and each of its material domestic subsidiaries is a guarantor of all of the obligations under the Credit Facility. The Credit Facility matures on September 26, 2028. The Credit Facility replaces the Company’s prior credit facility under the Amended and Restated Senior Secured Credit Facilities Credit Agreement dated February 19, 2021 between the Company and Silicon Valley Bank, as administrative agent, which was terminated substantially concurrently with the Company’s entering into the Credit Agreement. The Company is charged a commitment fee of between 0.25% and 0.35% of the total facility commitments, depending on the Company’s total net leverage ratio. Borrowings under the Credit Facility bear interest at a floating rate and may be maintained as alternate base rate loans (tied to the prime rate, the federal funds rate plus 0.50%, the overnight bank funding rate plus 0.50%, or the adjusted term secured overnight financing rate (SOFR) for a one-month period plus 1.00%) or as term benchmark loans tied to adjusted term SOFR plus 0.10%, in each case plus a margin of 2.25% to 2.75% depending on the Company’s total net leverage ratio. The Credit Agreement requires the Company to comply with maximum total net leverage and minimum fixed charge coverage ratios. In addition, the Credit Agreement contains other standard affirmative and negative covenants such as those which (subject to certain thresholds) limit the ability of the Company and its subsidiaries to, among other things, incur debt, incur liens, engage in mergers, consolidations, liquidations or acquisitions, enter into new lines of business not related to the Company’s current lines of business, make certain investments, make distributions on or repurchase its equity securities, engage in transactions with affiliates, or enter into certain hedging obligations. Events of default under the Credit Agreement include, among other things, payment defaults, breaches of representations, warranties or covenants, defaults under material indebtedness, certain events of bankruptcy or insolvency, judgment defaults, certain defaults or events relating to employee benefit plans or a change in control of the Company. The events of default would permit the lenders to terminate commitments and accelerate the maturity of borrowings under the Credit Facility if not cured within applicable grace periods. The Company was in compliance with all covenants as of September 30, 2023. The Company had no outstanding debt at September 30, 2023. The available amount to borrow under the Credit Facility was $123.5 million at September 30, 2023, which was equal to the available amount under the agreement of $125.0 million, net of letters of credit of $1.5 million.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments and Other Financial Arrangements —The Company has certain financial commitments and other arrangements including unused letters of credit and commitments under leases. As of September 30, 2023, there were no material changes to the Company’s commitments and other financial arrangements as disclosed in Note 8–Commitments and Contingencies in the notes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Litigation and Other Legal Matters —The Company is involved from time to time in litigation, claims, and proceedings. Periodically, the Company evaluates the status of each legal matter and assesses potential financial exposure. If the potential loss from any legal proceeding or litigation is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. Significant judgment is required to determine the probability of a loss and whether the amount of the loss is reasonably estimable. The outcome of any proceeding is not determinable in advance. As a result, the assessment of a potential liability and the amount of accruals recorded are based only on the information available at the time. As additional information becomes available, the Company reassesses the potential liability related to the legal proceeding or litigation, and may revise its estimates. Management is not currently aware of any matters that it expects will have a material effect on the financial position, results of operations, or cash flows of the Company. The Company has not accrued any material potential loss as of September 30, 2023 or December 31, 2022.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Share Repurchase Plan —On May 2, 2023, the Company announced that its Board of Directors authorized a plan (the Repurchase Plan) under which the Company may repurchase up to $20 million of the Company’s Class A common stock. Under the Repurchase Plan, shares of Class A common stock may be repurchased in the open market through privately negotiated transactions or otherwise, in accordance with applicable securities laws and other restrictions. The Repurchase Plan does not have a fixed expiration date and does not obligate the Company to acquire any specific number of shares. The timing and terms of any repurchases under the Repurchase Plan are at management’s discretion and depend on a variety of factors, including business, economic and market conditions, regulatory requirements, prevailing stock prices and other considerations. Additionally, the Company may, from time to time, enter into Rule 10b5-1 trading plans to facilitate repurchases. Shares repurchased under the Repurchase Plan are retired. During the three and nine months ended September 30, 2023, the Company repurchased 1.2 million and 1.3 million shares, respectively, of Class A common stock for $10.8 million and $12.1 million, respectively, including costs associated with the repurchases. Equity Incentive Plans —The 2021 Equity Incentive Plan and the predecessor 2012 Equity Incentive Plan, both as amended, along with the 2022 Inducement Equity Incentive Plan (collectively, the Plans) comprise the equity incentive plans of the Company. Under the terms of the 2021 Equity Incentive Plan, the number of shares of Class A common stock reserved for issuance under the plan will automatically increase on January 1 of each calendar year, starting January 1, 2023 and ending on and including January 1, 2031, in an amount equal to 5% of the total number of shares of the Company’s capital stock outstanding on December 31 of the prior calendar year, unless the Company’s Board of Directors determines prior to the date of increase that there will be a lesser increase, or no increase. In accordance with these plan terms, the aggregate number of shares of Class A common stock reserved for issuance under the 2021 Equity Incentive Plan increased by 3.8 million shares effective January 1, 2023. Stock Options —A summary of the Company’s stock option activity for its Plans is as follows: Outstanding Stock Options (in thousands) Weighted-Average Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in millions) Balance as of December 31, 2022 6,112 $ 9.81 6.7 $ 11.9 Exercised (1,343) $ 6.79 Cancelled/forfeited (299) $ 12.53 Balance as of September 30, 2023 4,470 $ 10.53 6.4 $ 6.0 Vested and exercisable as of September 30, 2023 3,081 $ 9.58 5.6 $ 5.7 The aggregate intrinsic value of options exercised was $12.9 million for the nine months ended September 30, 2023. There were no options granted for the nine months ended September 30, 2023. For the nine months ended September 30, 2022, the per-share fair value of each stock option was determined on the date of grant using the following weighted-average assumptions: Nine Months Ended Expected volatility 52.5 % Expected term (in years) 6.0 Expected dividend yield 0 % Risk-free interest rate 2.6 % Restricted Stock Units —A summary of the Company’s outstanding nonvested restricted stock units (RSUs) for its Plans is as follows: Number of Units (in thousands) Weighted-Average Nonvested as of December 31, 2022 7,405 $ 12.27 Granted 1 2,632 $ 14.73 Vested (1,711) $ 13.67 Forfeited (826) $ 13.88 Nonvested as of September 30, 2023 1 7,500 $ 12.64 ______________ (1) Includes 0.2 million of target award RSUs with both service-based and performance-based conditions. The total fair value of shares that vested under RSUs was $20.3 million during the nine months ended September 30, 2023. During the nine months ended September 30, 2023, the Company granted 0.2 million of target award RSUs with both service-based and performance-based conditions to certain employees of the Company. Recipients of these performance-based RSUs are eligible to earn between 0% and 200% of their target awards based upon the achievement of (i) an EBITDA-related metric and (ii) a revenue-related metric, both in fiscal year 2023, subject to certification of the attainment of the performance level. These performance-based RSUs are also subject to service-based vesting over a period of three years. Stock-based compensation for performance-based RSUs is recognized over the requisite service period using the accelerated attribution method based on an assessment of the probability of achieving the requisite performance metrics. The Company recognizes forfeitures as they occur for grantees who do not fulfill the service-based conditions. Employee Stock Purchase Plan —The terms of the Employee Stock Purchase Plan (ESPP) provide for automatic increases in the number of shares reserved for issuance on January 1 of each calendar year, beginning in 2023 and through 2031, subject to terms of the ESPP. In accordance with these plan terms, the aggregate number of Class A common stock authorized for issuance under the ESPP increased by 0.8 million effective January 1, 2023. Prior to capitalizing amounts related to software development costs, the Company recognized stock-based compensation related to the ESPP of $0.8 million and $1.4 million during the three months ended September 30, 2023 and 2022, respectively, and $2.8 million and $5.3 million during the nine months ended September 30, 2023 and 2022, respectively. Stock-Based Compensation —The Company recognized stock-based compensation under the Plans and ESPP as follows: Three Months Ended Nine Months Ended (in millions) 2023 2022 2023 2022 Research and development $ 2.9 $ 2.8 $ 8.4 $ 9.0 Sales and marketing 3.5 3.4 10.7 9.1 General and administrative 3.0 2.9 10.2 7.2 Total stock-based compensation $ 9.4 $ 9.1 $ 29.3 $ 25.3 In addition, stock-based compensation capitalized related to software development costs was $1.2 million and $1.4 million during the three months ended September 30, 2023 and 2022, respectively, and $4.3 million and $4.7 million during the nine months ended September 30, 2023 and 2022, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Beginning with the three months ended June 30, 2023, the Company’s tax provision for interim periods was determined using a discrete effective tax rate method, as allowed by ASC Topic 740-270, Income Taxes, Interim Reporting . The Company’s tax provision for interim periods was previously determined using an estimated annual effective tax rate which was adjusted for discrete items occurring during the periods presented. The Company determined that since small changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate, the historical method would not provide a reliable estimate for the three and nine months ended September 30, 2023. The primary difference between the Company’s effective tax rate and the statutory federal income tax rate is the full valuation allowance established on the Company’s federal, state and foreign deferred tax attributes. As of September 30, 2023 and December 31, 2022, the Company recorded a full valuation allowance against these net deferred tax assets as the Company believes that it is more likely than not that the Company will not be able to fully realize such net deferred tax assets. The Company’s judgment regarding the likelihood of realization of these deferred tax assets could change in future periods, which could result in a material impact in the Company’s income tax provision in the period of change.

Net Income (Loss) Per Basic and

Net Income (Loss) Per Basic and Diluted Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Basic and Diluted Share	Net Income (Loss) Per Basic and Diluted Share The following table provides the basic and diluted per share computations for net income (loss) attributable to common stockholders: Three Months Ended Nine Months Ended (in millions, except per share amounts) 2023 2022 2023 2022 Numerator: Net income (loss) attributable to common stockholders—basic and diluted $ (0.5) $ 0.7 $ (9.5) $ (19.1) Denominator: Weighted-average shares of common stock—basic 77.5 73.4 76.7 69.2 Effect of dilutive stock options and restricted stock units — 1.6 — — Weighted-average shares of common stock—diluted 77.5 75.0 76.7 69.2 Net income (loss) per share attributable to common stockholders: Basic $ (0.01) $ 0.01 $ (0.12) $ (0.28) Diluted $ (0.01) $ 0.01 $ (0.12) $ (0.28) The following common stock equivalents were excluded from the computation of diluted net income (loss) per share because including them would have been antidilutive: Three Months Ended Nine Months Ended (in millions) 2023 2022 2023 2022 Shares subject to outstanding stock options and restricted stock units 9.7 8.9 9.0 9.6 ESPP 0.3 1.2 0.4 1.6

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventFollowing the Company’s utilization of the share repurchase authorization announced by the Company on May 2, 2023, the Company announced on October 26, 2023 that its Board of Directors approved a new share repurchase authorization under which the Company may repurchase up to $30 million of the Company’s Class A common stock (the October 2023 Repurchase Plan). Under the October 2023 Repurchase Plan, shares of Class A common stock may be repurchased in the open market, through privately negotiated transactions or otherwise. The October 2023 Repurchase Plan does not have a fixed expiration date and does not obligate the Company to acquire any specific number of shares. The timing and terms of any repurchases under the October 2023 Repurchase Plan will be at management’s discretion and depend on a variety of factors, including business, economic and market conditions, regulatory requirements, prevailing stock prices and other considerations.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ (0.5)	$ (10.7)	$ 1.7	$ 0.7	$ (9.3)	$ (10.5)	$ (9.5)	$ (19.1)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Kevin Yuann [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 14, 2023, Mr. Yuann adopted a new trading plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1 of the Exchange Act as currently in effect (the Yuann Trading Plan). The Yuann Trading Plan has a duration of December 15, 2023 to December 31, 2024 and provides for the sale of up to approximately 390,755 shares of the Company’s Class A common stock (assuming the vesting of shares under certain performance-based restricted stock unit awards (PSUs) at 100% of target), including upon the vesting and settlement of certain equity awards. Because the aggregate number of shares that may be sold under the Yuann Trading Plan (i) will be net of shares withheld by the Company to satisfy Mr. Yuann’s tax obligations upon the vesting and settlement of certain equity awards and (ii) includes shares that may be issued in respect of PSUs, the precise number of shares that may be sold under the Yuann Trading Plan is not yet determinable.
Name	Mr. Yuann
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 14, 2023
Arrangement Duration	381 days
Aggregate Available	390,755	390,755
Kevin Yuann December 2022 Plan [Member] | Kevin Yuann [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On September 14, 2023, Kevin Yuann, Chief Business Officer, terminated a preexisting trading plan that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act as then applicable at the time of adoption (the Terminated Plan). The Terminated Plan was originally adopted on December 15, 2022, was scheduled to expire on December 31, 2023 and provided for the sale of up to 373,858 shares of the Company’s Class A common stock.
Name	Kevin Yuann
Title	Chief Business Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 15, 2022
Rule 10b5-1 Arrangement Terminated	true
Termination Date	September 14, 2023
Aggregate Available	373,858	373,858

The Company and Basis of Pres_2

The Company and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation— The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission regarding interim financial reporting. Accordingly, the accompanying unaudited interim condensed consolidated financial statements do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Consolidation	The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the full year or any other future period.
Concentrations of Credit Risk	Concentrations of Credit Risk—Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. While the Company deposits cash and cash equivalents with high credit quality financial institutions, including First Citizens Bank & Trust Company (through its Silicon Valley Bank division), HSBC and JPMorgan Chase Bank, N.A., to lessen the Company’s exposure, such cash deposits may exceed federally insured limits at these financial institutions.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following presents a disaggregation of the Company’s revenue based on product category: Three Months Ended Nine Months Ended (in millions) 2023 2022 2023 2022 Credit cards $ 54.0 $ 57.4 $ 166.5 $ 157.2 Loans 32.9 28.4 78.0 86.7 Other verticals 65.9 56.8 221.2 153.0 Total revenue $ 152.8 $ 142.6 $ 465.7 $ 396.9

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows: (in millions) Quoted Prices Other Significant Total As of September 30, 2023 Assets: Cash and cash equivalents—money market funds $ 64.2 $ — $ — $ 64.2 Certificate of deposit — 2.1 — 2.1 $ 64.2 $ 2.1 $ — $ 66.3 (in millions) Quoted Prices Other Significant Total As of December 31, 2022 Assets: Cash and cash equivalents—money market funds $ 75.4 $ — $ — $ 75.4 Certificate of deposit — 2.0 — 2.0 $ 75.4 $ 2.0 $ — $ 77.4 Liabilities: Contingent consideration $ — $ — $ 30.9 $ 30.9
Schedule of Level 3 Liabilities	Level 3 liabilities previously consisted entirely of contingent consideration, and the changes in fair value were as follows: Three Months Ended Nine Months Ended (in millions) 2023 2022 2023 2022 Balance as of beginning of period $ — $ 29.9 $ 30.9 $ 54.7 Payment — — (30.9) (30.5) Change in fair value, recognized in earnings — 0.4 — 6.1 Balance as of end of period $ — $ 30.3 $ — $ 30.3

Business Combination (Tables)

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Combination Pro Forma Information	The unaudited pro forma financial information is as follows: Three Months Ended Nine Months Ended (in millions) September 30, 2022 Revenue $ 144.8 $ 441.9 Net loss (10.1) (34.4)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Stock Options	A summary of the Company’s stock option activity for its Plans is as follows: Outstanding Stock Options (in thousands) Weighted-Average Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in millions) Balance as of December 31, 2022 6,112 $ 9.81 6.7 $ 11.9 Exercised (1,343) $ 6.79 Cancelled/forfeited (299) $ 12.53 Balance as of September 30, 2023 4,470 $ 10.53 6.4 $ 6.0 Vested and exercisable as of September 30, 2023 3,081 $ 9.58 5.6 $ 5.7
Schedule of Weighted-Average Assumptions and Ranges of Fair Value of Common Stock	For the nine months ended September 30, 2022, the per-share fair value of each stock option was determined on the date of grant using the following weighted-average assumptions: Nine Months Ended Expected volatility 52.5 % Expected term (in years) 6.0 Expected dividend yield 0 % Risk-free interest rate 2.6 %
Schedule of Outstanding Nonvested RSUs	A summary of the Company’s outstanding nonvested restricted stock units (RSUs) for its Plans is as follows: Number of Units (in thousands) Weighted-Average Nonvested as of December 31, 2022 7,405 $ 12.27 Granted 1 2,632 $ 14.73 Vested (1,711) $ 13.67 Forfeited (826) $ 13.88 Nonvested as of September 30, 2023 1 7,500 $ 12.64 ______________ (1) Includes 0.2 million of target award RSUs with both service-based and performance-based conditions.
Schedule of Stock-based Compensation Expense	The Company recognized stock-based compensation under the Plans and ESPP as follows: Three Months Ended Nine Months Ended (in millions) 2023 2022 2023 2022 Research and development $ 2.9 $ 2.8 $ 8.4 $ 9.0 Sales and marketing 3.5 3.4 10.7 9.1 General and administrative 3.0 2.9 10.2 7.2 Total stock-based compensation $ 9.4 $ 9.1 $ 29.3 $ 25.3

Net Income (Loss) Per Basic a_2

Net Income (Loss) Per Basic and Diluted Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Net Income (Loss) Per Share, Basic and Diluted	The following table provides the basic and diluted per share computations for net income (loss) attributable to common stockholders: Three Months Ended Nine Months Ended (in millions, except per share amounts) 2023 2022 2023 2022 Numerator: Net income (loss) attributable to common stockholders—basic and diluted $ (0.5) $ 0.7 $ (9.5) $ (19.1) Denominator: Weighted-average shares of common stock—basic 77.5 73.4 76.7 69.2 Effect of dilutive stock options and restricted stock units — 1.6 — — Weighted-average shares of common stock—diluted 77.5 75.0 76.7 69.2 Net income (loss) per share attributable to common stockholders: Basic $ (0.01) $ 0.01 $ (0.12) $ (0.28) Diluted $ (0.01) $ 0.01 $ (0.12) $ (0.28)
Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Net Income (Loss) Per Share	The following common stock equivalents were excluded from the computation of diluted net income (loss) per share because including them would have been antidilutive: Three Months Ended Nine Months Ended (in millions) 2023 2022 2023 2022 Shares subject to outstanding stock options and restricted stock units 9.7 8.9 9.0 9.6 ESPP 0.3 1.2 0.4 1.6

The Company and Basis of Pres_3

The Company and Basis of Presentation (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents—money market funds	$ 64.2	$ 75.4

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 152.8	$ 142.6	$ 465.7	$ 396.9
Contract assets	6.9		6.9		$ 5.8
Credit cards
Disaggregation of Revenue [Line Items]
Revenue	54	57.4	166.5	157.2
Loans
Disaggregation of Revenue [Line Items]
Revenue	32.9	28.4	78	86.7
Other verticals
Disaggregation of Revenue [Line Items]
Revenue	$ 65.9	$ 56.8	$ 221.2	$ 153

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Recurring Basis
Assets:
Assets	$ 66.3	$ 77.4
Liabilities:
Contingent consideration		30.9
Recurring Basis | Certificate of deposit
Assets:
Certificate of deposit	2.1	2
Recurring Basis | Quoted Prices in Active Markets (Level 1)
Assets:
Assets	64.2	75.4
Liabilities:
Contingent consideration		0
Recurring Basis | Quoted Prices in Active Markets (Level 1) | Certificate of deposit
Assets:
Certificate of deposit	0	0
Recurring Basis | Other Observable Inputs (Level 2)
Assets:
Assets	2.1	2
Liabilities:
Contingent consideration		0
Recurring Basis | Other Observable Inputs (Level 2) | Certificate of deposit
Assets:
Certificate of deposit	2.1	2
Recurring Basis | Significant Unobservable Inputs (Level 3)
Assets:
Assets	0	0
Liabilities:
Contingent consideration		30.9
Recurring Basis | Significant Unobservable Inputs (Level 3) | Certificate of deposit
Assets:
Certificate of deposit	0	0
Money Market Funds
Assets:
Cash and cash equivalents—money market funds	64.2	75.4
Money Market Funds | Recurring Basis
Assets:
Cash and cash equivalents—money market funds	64.2	75.4
Money Market Funds | Recurring Basis | Quoted Prices in Active Markets (Level 1)
Assets:
Cash and cash equivalents—money market funds	64.2	75.4
Money Market Funds | Recurring Basis | Other Observable Inputs (Level 2)
Assets:
Cash and cash equivalents—money market funds	0	0
Money Market Funds | Recurring Basis | Significant Unobservable Inputs (Level 3)
Assets:
Cash and cash equivalents—money market funds	$ 0	$ 0

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Liabilities (Details) - Contingent Consideration - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of beginning of period	$ 0	$ 30.3	$ 0	$ 30.3	$ 0	$ 30.9	$ 29.9	$ 54.7
Payment	0	0	(30.9)	(30.5)
Change in fair value, recognized in earnings	0	0.4	0	6.1
Balance as of end of period	$ 0	$ 30.3	$ 0	$ 30.3

Significant Condensed Consoli_2

Significant Condensed Consolidated Balance Sheet Components (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Significant Consolidated Balance Sheet Components [Abstract]
Capitalized software development costs, net of accumulated amortization	$ 48.7		$ 48.7		$ 43.9
Capitalized software development costs	7.9	$ 8.9	25.7	$ 25.8
Amortization of capitalized software	$ 7.3	$ 5.7	$ 20.9	$ 16
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities		Accrued expenses and other current liabilities		Accrued expenses and other current liabilities
Accrued expenses and other current liabilities including operating lease liabilities	$ 3.3		$ 3.3		$ 3.1
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities—noncurrent		Other liabilities—noncurrent		Other liabilities—noncurrent
Other liabilities noncurrent including operating lease liabilities	$ 7.1		$ 7.1		$ 9.6

Business Combination (Details)

Business Combination (Details) - On the Barrelhead, Inc. - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Business Acquisition [Line Items]
Revenue	$ 144.8	$ 441.9
Net loss	$ (10.1)	$ (34.4)

Debt (Details)

Debt (Details)	Sep. 26, 2023 USD ($) subsidiary	Sep. 30, 2023 USD ($)
Revolving Credit Facility | Credit Agreement
Line of Credit Facility [Line Items]
Number of wholly-owned subsidiaries, debt counterparties | subsidiary	3
Revolving Credit Facility | Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 125,000,000	$ 125,000,000
Line of credit amount outstanding		0
Remaining borrowing capacity		123,500,000
Revolving Credit Facility | Credit Agreement | Line of Credit | Minimum
Line of Credit Facility [Line Items]
Unused capacity commitment fee percentage (in percent)	0.25%
Revolving Credit Facility | Credit Agreement | Line of Credit | Maximum
Line of Credit Facility [Line Items]
Unused capacity commitment fee percentage (in percent)	0.35%
Revolving Credit Facility | Credit Agreement Alternative Base Rate Loans | Line of Credit | Fed Funds Effective Rate Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable interest rate (in percent)	0.50%
Revolving Credit Facility | Credit Agreement Alternative Base Rate Loans | Line of Credit | Secured Overnight Financing Rate Reference Rate Plus
Line of Credit Facility [Line Items]
Basis spread on variable interest rate (in percent)	0.50%
Revolving Credit Facility | Credit Agreement Alternative Base Rate Loans | Line of Credit | Secured Overnight Financing Rate With 1-month Interest Periods
Line of Credit Facility [Line Items]
Basis spread on variable interest rate (in percent)	1%
Revolving Credit Facility | Credit Agreement Term Benchmark Loans | Line of Credit | Secured Overnight Financing Rate S O F R
Line of Credit Facility [Line Items]
Basis spread on variable interest rate (in percent)	0.10%
Revolving Credit Facility | Credit Agreement Term Benchmark Loans | Line of Credit | Minimum | Margin Percentage
Line of Credit Facility [Line Items]
Basis spread on variable interest rate (in percent)	2.25%
Revolving Credit Facility | Credit Agreement Term Benchmark Loans | Line of Credit | Maximum | Margin Percentage
Line of Credit Facility [Line Items]
Basis spread on variable interest rate (in percent)	2.75%
Letter of Credit | Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000,000
Line of credit facility, accordion feature, increase limit	75,000,000
Line of credit amount outstanding		$ 1,500,000
Bridge Loan | Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000,000

Stockholders' Equity - Share Re

Stockholders' Equity - Share Repurchase Plan Narrative (Details) - Common Class A - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2023	May 02, 2023
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 20
Repurchase of Class A common stock (in shares)	1.2		1.3
Repurchase of Class A common stock	$ 10.8	$ 1.3	$ 12.1

Stockholders' Equity - Equity I

Stockholders' Equity - Equity Incentive Plan Narrative (Details) - 2021 Equity Incentive Plan - Common Class A - shares shares in Millions	Jan. 01, 2023	Sep. 30, 2023
Class of Stock [Line Items]
Increase in shares reserved for issuance (in shares)	3.8
Stock Options
Class of Stock [Line Items]
Annual increase in shares authorized, percentage		5%

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details) - Stock Options $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Outstanding Stock Options (in thousands)
Beginning of period (in shares) | shares	6,112
Exercised (in shares) | shares	(1,343)
Cancelled/forfeited (in shares) | shares	(299)
End of period (in shares) | shares	4,470	6,112
Vested and exercisable (in shares) | shares	3,081
Weighted-Average Exercise Price
Beginning of period (in dollars per share) | $ / shares	$ 9.81
Exercised (in dollars per share) | $ / shares	6.79
Cancelled/forfeited (in dollars per share) | $ / shares	12.53
End of period (in dollars per share) | $ / shares	10.53	$ 9.81
Vested and exercisable (in dollars per share) | $ / shares	$ 9.58
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-Average Remaining Contractual Life (in years)	6 years 4 months 24 days	6 years 8 months 12 days
Vested and exercisable (in years)	5 years 7 months 6 days
Aggregate intrinsic value, outstanding | $	$ 6	$ 11.9
Aggregate intrinsic value, Vested and exercisable | $	$ 5.7

Stockholders' Equity - Stock _2

Stockholders' Equity - Stock Option Activity - Narrative (Details) - Stock Options $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value, options exercised in period | $	$ 12.9
Granted (in shares) | shares	0

Stockholders' Equity - Stock _3

Stockholders' Equity - Stock Option Valuation Assumptions (Details) - Stock Options	9 Months Ended
	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	52.50%
Expected term (in years)	6 years
Expected dividend yield	0%
Risk-free interest rate	2.60%

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Unit Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Restricted Stock Units (RSUs)
Number of Units (in thousands)
Beginning of period, nonvested (in shares)	7,405
Granted (in shares)	2,632
Vested (in shares)	(1,711)
Forfeited (in shares)	(826)
End of period, nonvested (in shares)	7,500
Weighted-Average Grant-Date Fair Value
Beginning of period, nonvested weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.27
Granted (in dollars per share) | $ / shares	14.73
Vested (in dollars per share) | $ / shares	13.67
Forfeited (in dollars per share) | $ / shares	13.88
End of period, nonvested weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.64
Restricted Stock Units, Service-Based And Performance-Based
Number of Units (in thousands)
Granted (in shares)	200

Stockholders' Equity - Restri_2

Stockholders' Equity - Restricted Stock Unit Activity Narrative (Details) shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) shares
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares vested under RSUs during period | $	$ 20.3
Grants in period (in shares)	2,632
Restricted Stock Units, Service-Based And Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	200
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	0%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights percentage	200%

Stockholders' Equity - Employee

Stockholders' Equity - Employee Stock Purchase Plan (Details) - USD ($) shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
	Jan. 01, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 9.4	$ 9.1	$ 29.3	$ 25.3
ESPP | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized (in shares)	0.8
Share-based compensation expense		$ 0.8	$ 1.4	$ 2.8	$ 5.3

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 9.4	$ 9.1	$ 29.3	$ 25.3
Share-based compensation capitalized	1.2	1.4	4.3	4.7
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	2.9	2.8	8.4	9
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	3.5	3.4	10.7	9.1
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 3	$ 2.9	$ 10.2	$ 7.2

Net Income (Loss) Per Basic a_3

Net Income (Loss) Per Basic and Diluted Share - Basic and Diluted Per Share Computations for Net Income (Loss) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net income (loss) attributable to common stockholders – basic	$ (0.5)	$ 0.7	$ (9.5)	$ (19.1)
Net income (loss) attributable to common stockholders – diluted	$ (0.5)	$ 0.7	$ (9.5)	$ (19.1)
Denominator:
Weighted-average shares of common stock – basic (in shares)	77.5	73.4	76.7	69.2
Effect of dilutive stock options and restricted stock units (in shares)	0	1.6	0	0
Weighted-average shares of common stock - diluted (in shares)	77.5	75	76.7	69.2
Net income (loss) per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.01)	$ 0.01	$ (0.12)	$ (0.28)
Diluted (in dollars per share)	$ (0.01)	$ 0.01	$ (0.12)	$ (0.28)

Net Income (Loss) Per Basic a_4

Net Income (Loss) Per Basic and Diluted Share - Schedule of Antidilutive Securities Excluded from Computation (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Shares subject to outstanding stock options and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	9.7	8.9	9	9.6
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0.3	1.2	0.4	1.6

Subsequent Event (Details)

Subsequent Event (Details) - Common Class A - USD ($) $ in Millions	Oct. 26, 2023	May 02, 2023
Subsequent Event [Line Items]
Stock repurchase program, authorized amount		$ 20
Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, authorized amount	$ 30