Sterling Check (STER) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Aug. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-40829
Entity Registrant Name	Sterling Check Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-1784336
Entity Address, Address Line One	6150 Oak Tree Boulevard
Entity Address, Address Line Two	Suite 490
Entity Address, City or Town	Independence
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44131
City Area Code	800
Local Phone Number	853-3228
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	STER
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
Entity Common Stock, Shares Outstanding (in shares)		97,989,463
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001645070

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 74,182	$ 54,224
Accounts receivable (net of allowance for credit losses of $3,212 and $2,816 at June 30, 2024 and December 31, 2023, respectively)	172,050	142,179
Insurance receivable	2,895	2,937
Prepaid expenses	8,678	9,651
Other current assets	21,472	15,800
Total current assets	279,277	224,791
Property and equipment, net	6,772	7,695
Goodwill	902,564	879,408
Intangible assets, net	255,049	230,212
Deferred tax assets	4,943	4,818
Operating leases right-of-use asset	5,386	6,452
Other noncurrent assets, net	9,248	10,067
TOTAL ASSETS	1,463,239	1,363,443
CURRENT LIABILITIES:
Accounts payable	52,892	38,879
Litigation settlement obligation	6,222	5,279
Accrued expenses	79,100	63,987
Current portion of long-term debt	15,000	15,000
Operating leases liability, current portion	3,490	4,219
Income tax payable, current portion	163	8,933
Other current liabilities	15,458	11,839
Total current liabilities	172,325	148,136
Long-term debt, net	537,696	479,788
Deferred tax liabilities	6,114	14,239
Long-term operating leases liability, net of current portion	6,054	7,278
Other liabilities	6,924	12,058
Total liabilities	729,113	661,499
COMMITMENTS AND CONTINGENCIES (NOTE 13)
STOCKHOLDERS’ EQUITY:
Preferred stock ($0.01 par value; 100,000,000 shares authorized; no shares issued or outstanding)	0	0
Common stock ($0.01 par value; 1,000,000,000 shares authorized; 105,429,219 shares issued and 97,901,748 shares outstanding at June 30, 2024; 99,966,158 shares issued and 93,194,403 shares outstanding at December 31, 2023)	157	98
Additional paid-in capital	1,039,337	983,283
Common stock held in treasury (7,527,471 and 6,771,755 shares at June 30, 2024 and December 31, 2023, respectively)	(99,929)	(88,918)
Accumulated deficit	(200,751)	(186,564)
Accumulated other comprehensive loss	(4,688)	(5,955)
Total stockholders’ equity	734,126	701,944
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 1,463,239	$ 1,363,443

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 3,212	$ 2,816
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	105,429,219	99,966,158
Common stock, shares outstanding (in shares)	97,901,748	93,194,403
Common stock held in treasury (in shares)	7,527,471	6,771,755

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
REVENUES	$ 200,528	$ 190,384	$ 386,527	$ 369,658
OPERATING EXPENSES:
Cost of revenues (exclusive of depreciation and amortization below)	110,859	102,056	214,900	196,810
Corporate technology and production systems	12,755	11,428	25,969	23,380
Selling, general and administrative	50,379	44,910	110,269	92,361
Depreciation and amortization	15,820	16,120	31,590	31,242
Impairments and disposals of long-lived assets	32	7,039	200	7,145
Total operating expenses	189,845	181,553	382,928	350,938
OPERATING INCOME	10,683	8,831	3,599	18,720
OTHER EXPENSE (INCOME):
Interest expense, net	10,143	8,990	20,455	17,598
Other income	(322)	(397)	(745)	(809)
Total other expense, net	9,821	8,593	19,710	16,789
INCOME (LOSS) BEFORE INCOME TAXES	862	238	(16,111)	1,931
Income tax provision (benefit)	7,094	(85)	(1,924)	1,017
NET (LOSS) INCOME	(6,232)	323	(14,187)	914
Unrealized gain (loss) on hedged transactions, net of tax expense (benefit) of $177, $(1,671), $1,218 and $144 respectively	514	4,751	3,534	(408)
Foreign currency translation adjustments, net of tax expense of $0, $0, $0 and $0, respectively	(16)	955	(2,267)	1,637
Total other comprehensive income	498	5,706	1,267	1,229
COMPREHENSIVE (LOSS) INCOME	$ (5,734)	$ 6,029	$ (12,920)	$ 2,143
Net (loss) income per share attributable to stockholders
Basic (in USD per share)	$ (0.07)	$ 0	$ (0.16)	$ 0.01
Diluted (in USD per share)	$ (0.07)	$ 0	$ (0.16)	$ 0.01
Weighted average number of shares outstanding
Basic (in shares)	92,778,209	92,723,901	91,526,151	92,800,279
Diluted (in shares)	92,778,209	94,498,666	91,526,151	94,924,080

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Tax expense (benefit) on unrealized gain (loss) on hedged transactions	$ 177	$ (1,671)	$ 1,218	$ 144
Tax expense on foreign currency translation adjustments	$ 0	$ 0	$ 0	$ 0

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Common Shares/Stock Held in Treasury	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance, shares outstanding (in shares) at Dec. 31, 2022		96,717,883
Beginning balance at Dec. 31, 2022	$ 736,646	$ 76	$ 942,789	$ (14,859)	$ (186,448)	$ (4,912)
Beginning balance, treasury (in shares) at Dec. 31, 2022				1,047,237
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		4,567
Repurchase of common stock (in shares)		493,926		493,926
Repurchases of common stock	(7,712)			$ (7,712)
Shares withheld to cover restricted share vesting tax (in shares)		37,128		37,128
Shares withheld to cover restricted share vesting tax	(487)			$ (487)
Issuance of restricted shares, net of forfeitures and vesting (in shares)		1,894,310
Issuance of restricted shares, net of forfeitures and vestings	0	$ 19	(19)
Stock-based compensation	8,043		8,043
Net (Loss) Income	591				591
Unrealized loss on hedged transactions, net of tax	(5,159)					(5,159)
Foreign currency translation adjustment, net of tax	682					682
Ending balance, shares outstanding (in shares) at Mar. 31, 2023		98,085,706
Ending Balance at Mar. 31, 2023	732,604	$ 95	950,813	$ (23,058)	(185,857)	(9,389)
Ending balance, treasury (in shares) at Mar. 31, 2023				1,578,291
Beginning balance, shares outstanding (in shares) at Dec. 31, 2022		96,717,883
Beginning balance at Dec. 31, 2022	736,646	$ 76	942,789	$ (14,859)	(186,448)	(4,912)
Beginning balance, treasury (in shares) at Dec. 31, 2022				1,047,237
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	914
Unrealized loss on hedged transactions, net of tax	(408)
Foreign currency translation adjustment, net of tax	1,637
Ending balance, shares outstanding (in shares) at Jun. 30, 2023		96,758,662
Ending Balance at Jun. 30, 2023	730,887	$ 96	960,781	$ (40,773)	(185,534)	(3,683)
Ending balance, treasury (in shares) at Jun. 30, 2023				3,051,365
Beginning balance, shares outstanding (in shares) at Dec. 31, 2022		96,717,883
Beginning balance at Dec. 31, 2022	$ 736,646	$ 76	942,789	$ (14,859)	(186,448)	(4,912)
Beginning balance, treasury (in shares) at Dec. 31, 2022				1,047,237
Ending balance, shares outstanding (in shares) at Dec. 31, 2023	93,194,403	93,194,403
Ending Balance at Dec. 31, 2023	$ 701,944	$ 98	983,283	$ (88,918)	(186,564)	(5,955)
Ending balance, treasury (in shares) at Dec. 31, 2023	6,771,755			6,771,755
Beginning balance, shares outstanding (in shares) at Mar. 31, 2023		98,085,706
Beginning balance at Mar. 31, 2023	$ 732,604	$ 95	950,813	$ (23,058)	(185,857)	(9,389)
Beginning balance, treasury (in shares) at Mar. 31, 2023				1,578,291
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		2,363
Repurchase of common stock (in shares)		1,465,893		1,465,893
Repurchases of common stock	(17,630)			$ (17,630)
Exercise of employee stock options, net of shares exchanged for payment and tax withholding (in shares)		63,336
Exercise of employee stock options, net of shares exchanged for payment and tax withholding	611		611
Shares withheld to cover restricted share vesting tax (in shares)		7,181		7,181
Shares withheld to cover restricted share vesting tax	(85)			$ (85)
Issuance of restricted shares, net of forfeitures and vesting (in shares)		80,331
Issuance of restricted shares, net of forfeitures and vestings	0	$ 1	(1)
Stock-based compensation	9,358		9,358
Net (Loss) Income	323				323
Unrealized loss on hedged transactions, net of tax	4,751					4,751
Foreign currency translation adjustment, net of tax	955					955
Ending balance, shares outstanding (in shares) at Jun. 30, 2023		96,758,662
Ending Balance at Jun. 30, 2023	$ 730,887	$ 96	960,781	$ (40,773)	(185,534)	(3,683)
Ending balance, treasury (in shares) at Jun. 30, 2023				3,051,365
Beginning balance, shares outstanding (in shares) at Dec. 31, 2023	93,194,403	93,194,403
Beginning balance at Dec. 31, 2023	$ 701,944	$ 98	983,283	$ (88,918)	(186,564)	(5,955)
Beginning balance, treasury (in shares) at Dec. 31, 2023	6,771,755			6,771,755
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		2,111
Repurchase of common stock (in shares)		494,157		494,157
Repurchases of common stock	$ (6,832)			$ (6,832)
Exercise of employee stock options, net of shares exchanged for payment and tax withholding (in shares)		3,397,303
Exercise of employee stock options, net of shares exchanged for payment and tax withholding	33,952	$ 34	33,918
Issuance of common stock under the 2021 Employee Stock Purchase Plan (in shares)		64,983
Issuance of common stock under the 2021 Employee Stock Purchase Plan	695	$ 5	690
Shares withheld to cover restricted share vesting tax (in shares)		242,755		242,755
Shares withheld to cover restricted share vesting tax	(3,903)			$ (3,903)
Issuance of restricted shares, net of forfeitures and vesting (in shares)		1,889,788
Issuance of restricted shares, net of forfeitures and vestings	0	$ 19	(19)
Stock-based compensation	9,342		9,342
Net (Loss) Income	(7,955)				(7,955)
Unrealized loss on hedged transactions, net of tax	3,020					3,020
Foreign currency translation adjustment, net of tax	(2,251)					(2,251)
Ending balance, shares outstanding (in shares) at Mar. 31, 2024		97,811,676
Ending Balance at Mar. 31, 2024	$ 728,012	$ 156	1,027,214	$ (99,653)	(194,519)	(5,186)
Ending balance, treasury (in shares) at Mar. 31, 2024				7,508,667
Beginning balance, shares outstanding (in shares) at Dec. 31, 2023	93,194,403	93,194,403
Beginning balance at Dec. 31, 2023	$ 701,944	$ 98	983,283	$ (88,918)	(186,564)	(5,955)
Beginning balance, treasury (in shares) at Dec. 31, 2023	6,771,755			6,771,755
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (in shares)	494,157
Repurchases of common stock	$ (6,800)
Net (Loss) Income	(14,187)
Unrealized loss on hedged transactions, net of tax	3,534
Foreign currency translation adjustment, net of tax	$ (2,267)
Ending balance, shares outstanding (in shares) at Jun. 30, 2024	97,901,748	97,901,748
Ending Balance at Jun. 30, 2024	$ 734,126	$ 157	1,039,337	$ (99,929)	(200,751)	(4,688)
Ending balance, treasury (in shares) at Jun. 30, 2024	7,527,471			7,527,471
Beginning balance, shares outstanding (in shares) at Mar. 31, 2024		97,811,676
Beginning balance at Mar. 31, 2024	$ 728,012	$ 156	1,027,214	$ (99,653)	(194,519)	(5,186)
Beginning balance, treasury (in shares) at Mar. 31, 2024				7,508,667
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		1,983
Repurchase of common stock (in shares)	0
Exercise of employee stock options, net of shares exchanged for payment and tax withholding (in shares)		44,189
Exercise of employee stock options, net of shares exchanged for payment and tax withholding	$ 421		421
Shares withheld to cover restricted share vesting tax (in shares)		18,804		18,804
Shares withheld to cover restricted share vesting tax	(276)			$ (276)
Issuance of restricted shares, net of forfeitures and vesting (in shares)		62,704
Issuance of restricted shares, net of forfeitures and vestings	0	$ 1	(1)
Stock-based compensation	11,703		11,703
Net (Loss) Income	(6,232)				(6,232)
Unrealized loss on hedged transactions, net of tax	514					514
Foreign currency translation adjustment, net of tax	$ (16)					(16)
Ending balance, shares outstanding (in shares) at Jun. 30, 2024	97,901,748	97,901,748
Ending Balance at Jun. 30, 2024	$ 734,126	$ 157	$ 1,039,337	$ (99,929)	$ (200,751)	$ (4,688)
Ending balance, treasury (in shares) at Jun. 30, 2024	7,527,471			7,527,471

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net (Loss) Income	$ (6,232)	$ (7,955)	$ 323	$ 591	$ (14,187)	$ 914
Adjustments to reconcile net (loss) income to net cash provided by operations
Depreciation and amortization	15,820		16,120		31,590	31,242
Deferred income taxes					(9,488)	188
Stock-based compensation					21,045	17,401
Impairments and disposals of long-lived assets	32		7,039		200	7,145
Provision for bad debts					1,212	459
Amortization of financing fees					539	539
Amortization of debt discount					408	392
Deferred rent					(862)	1,023
Unrealized translation loss on investment in foreign subsidiaries					7	108
Change in fair value of contingent consideration, net					1,290	0
Interest rate swap settlements					0	585
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable					(22,857)	(7,399)
Insurance receivable					41	(2,500)
Prepaid expenses					1,419	2,251
Other assets					(5,375)	(8,650)
Accounts payable					12,530	1,314
Litigation settlement obligation					943	1,848
Accrued expenses					12,296	(10,515)
Other liabilities					(10,584)	(3,447)
Net cash provided by operations					20,167	32,898
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment					(993)	(593)
Purchases of intangible assets and capitalized software					(10,355)	(8,589)
Acquisitions, net of cash acquired					(70,437)	(48,641)
Proceeds from disposition of property and equipment					3	125
Net cash used in investing activities					(81,782)	(57,698)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock					0	611
Proceeds from exercise of employee stock options					42,555	0
Proceeds from employee stock purchase plan					695	0
Repurchases of common stock					(6,832)	(25,342)
Payments of long-term debt					(7,500)	(3,750)
Borrowings on revolving credit facility					65,000	0
Payment of contingent consideration for acquisition					0	(305)
Net cash provided by (used in) financing activities					82,063	(29,358)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS					(490)	(120)
NET CHANGE IN CASH AND CASH EQUIVALENTS					19,958	(54,278)
Beginning of period		$ 54,224		$ 103,095	54,224	103,095	$ 103,095
Cash and cash equivalents at end of period	$ 74,182		$ 48,817		74,182	48,817	$ 54,224
Cash paid during the period for
Interest, net of capitalized amounts of $284 and $189 for the six months ended June 30, 2024 and 2023, respectively					19,527	20,239
Income taxes					19,613	9,703
Noncash investing activities
Purchases of property and equipment in accounts payable and accrued expenses					175	165
Noncash purchase price of business combinations					2,750	4,706
Stock options
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock					500
Cash paid for tax withholding					(7,676)	0
Restricted stock
CASH FLOWS FROM FINANCING ACTIVITIES
Cash paid for tax withholding					$ (4,179)	$ (572)

UNAUDITED CONDENSED CONSOLIDA_7

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Cash Flows [Abstract]
Interest, capitalized amounts	$ 284	$ 189

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Sterling Check Corp. (the “Company”), a Delaware corporation headquartered in Independence, Ohio, is a global provider of technology-enabled background and identity verification services. The Company provides the foundation of trust and safety its clients need to create effective environments for their most essential resource—people. The Company offers a comprehensive hiring and risk management solution that begins with identity verification, followed by criminal background screening, credential verification, drug and health screening, employee onboarding document processing and ongoing risk monitoring. As of June 30, 2024, the Company is 51% owned by an investment group consisting of entities advised by or affiliated with The Goldman Sachs Group, Inc. (“Goldman Sachs”) and Caisse de dépôt et placement du Québec (“CDPQ” and, together with Goldman Sachs, our “Sponsor”). CDPQ owns its equity interest in the Company indirectly through a limited partnership controlled by Goldman Sachs. Merger with First Advantage On February 28, 2024, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with First Advantage Corporation, a Delaware corporation (“First Advantage”), and Starter Merger Sub, Inc., a Delaware corporation and an indirect wholly-owned subsidiary of First Advantage (“Merger Sub”). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, Merger Sub will be merged with and into the Company (the “Merger”), with the Company continuing as the surviving corporation in the Merger and becoming an indirect wholly-owned subsidiary of First Advantage. The respective boards of directors of the Company and First Advantage unanimously approved the Merger Agreement, and the board of directors of the Company recommended that the Company’s stockholders adopt the Merger Agreement. On February 28, 2024, following the execution of the Merger Agreement, certain entities advised by or affiliated with Goldman Sachs & Co. LLC and holding a majority of the issued and outstanding shares of the Company’s common stock (together, the “Specified Stockholders’) delivered a written consent to adopt the Merger Agreement and to approve the transactions contemplated thereby, including the Merger, and on April 26, 2024 these stockholders delivered a written consent readopting the Merger Agreement and adopting the ratification by the board of directors of the Company of the execution and delivery of the Merger Agreement. The Merger was approved on behalf of all stockholders of the Company, and no further vote of Company stockholders will be required.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements are unaudited; however, in the opinion of management, they reflect all adjustments including those of a normal recurring nature necessary to state fairly the financial position, results of operations and cash flows for the periods presented in conformity with GAAP applicable to interim periods. The results of operations for the interim periods presented are not necessarily indicative of results for the full year or future periods. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of December 31, 2023 and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on March 6, 2024. Out-of-Period Adjustments During the three months ended March 31, 2024, the Company recorded a $4.0 million out-of-period adjustment to increase selling, general and administrative expense and other current liabilities to correct for an error identified by management during the preparation of the unaudited condensed consolidated financial statements. This out-of-period adjustment is reflected in the unaudited condensed consolidated financial statements for the six months ended June 30, 2024. During the three months ended March 31, 2024, the Company identified that the fair value of the contingent consideration related to the acquisition of Employment Background Investigations, Inc. (“EBI”) was understated by $4.0 million as of December 31, 2023. This out-of-period adjustment represents a correction of an understatement of expenses and an overstatement of net income of $2.0 million in each of the years ended December 31, 2023 and 2022 and an understatement of the related liabilities of $4.0 million and $2.0 million as of December 31, 2023 and 2022, respectively. In addition, during the three months ended March 31, 2024, the Company recorded an out-of-period adjustment of $0.7 million to increase the income tax benefit to correct for an error identified by management. This out-of-period adjustment is reflected in the unaudited condensed consolidated financial statements for the six months ended June 30, 2024 and represents a correction of an overstatement of the income tax provision for the year ended December 31, 2023.The Company evaluated the impact of these errors and out-of-period adjustments and concluded they are not material to any previously issued interim or annual consolidated financial statements and the adjustments are not expected to be material to the consolidated financial statements for the year ending December 31, 2024. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that can affect the reported amount of assets, liabilities, revenues, expenses and the disclosure of contingent assets, and liabilities. Significant estimates include the impairment of long-lived assets, goodwill impairment, derivative instruments and hedging activities, and the determination of the fair value of acquired assets, liabilities and contingent consideration. The Company believes that the estimates used in the preparation of these unaudited condensed consolidated financial statements are reasonable; however, actual results could differ materially from these estimates. Risks and Uncertainties The Company operates in an industry that is subject to intense competition, government regulation and rapid technological change. The Company’s operations are subject to significant risks and uncertainties including financial, operational, technological, regulatory, foreign operations, and other risks. Segment Information The Company has one operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. Cash and Cash Equivalents Cash and cash equivalents of $74.2 million and $54.2 million as of June 30, 2024 and December 31, 2023, respectively, include money market instruments with maturities of three months or less. The Company maintained cash outside the U.S. as of June 30, 2024 of $17.0 million with the largest deposits being held in Canada and Australia, with balances of $4.4 million and $2.7 million , respectively. Cash outside the U.S. was $19.3 million as of December 31, 2023, with the largest deposits being held in Australia and India, with balances of $6.2 million and $3.2 million , respectively. Foreign Currency Assets and liabilities of operations having non-USD functional currencies are translated at period-end exchange rates, and income statement accounts are translated at weighted average exchange rates for the period. Gains or losses resulting from translating foreign currency financial statements, net of any related tax effects, are reflected in accumulated other comprehensive income or loss (“OCI”), a separate component of stockholders’ equity on the unaudited condensed consolidated balance sheets. Gains or losses resulting from foreign currency transactions incurred in currencies other than the local functional currency are included in other income in the unaudited condensed consolidated statements of operations and comprehensive (loss) income. The cumulative translation adjustment resulted in losses of $5.1 million and $2.9 million as of June 30, 2024 and December 31, 2023, respectively. Accounts Receivable and Allowance for Credit Losses Accounts receivable balances consist of trade receivables that are recorded at the invoiced amount, net of allowances for expected credit losses and for potential sales credits and reserves. Sales credits and reserves were $0.8 million and $1.2 million as of June 30, 2024 and December 31, 2023 , respectively. The Company maintains an allowance for expected credit losses in order to record accounts receivable at their net realizable value. Inherent in the assessment of the allowance for expected credit losses are certain judgments and estimates relating to, among other things, the Company’s customers’ access to capital, customers’ willingness and ability to pay, general economic conditions and the ongoing relationship with customers. Allowances have been recorded for receivables believed to be uncollectible, including amounts for the resolution of potential credit and other collection issues such as disputed invoices. The allowance for expected credit losses is determined by analyzing the Company’s historical write-offs, the current aging of receivables, the financial condition of customers and the general economic climate. Adjustments to the allowance may be required in future periods depending on how such potential issues are resolved or if the financial condition of the Company’s customers were to deteriorate resulting in an impairment of their ability to make payments. The Company has not historically had material write-offs due to uncollectible accounts receivable. Allowances for expected credit losses were $3.2 million and $2.8 million as of June 30, 2024 and December 31, 2023, respectively. The following table summarizes changes in the allowance for expected credit losses for the periods presented: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Balance as of beginning of period $ 2,933 $ 2,473 $ 2,816 $ 2,304 Additions 972 215 1,176 459 Write-offs, net of recoveries (692) (30) (774) (108) Foreign currency translation adjustment (1) — (6) 3 Balance as of end of period $ 3,212 $ 2,658 $ 3,212 $ 2,658 Corporate Technology and Production Systems Corporate technology and production systems includes costs related to maintaining the Company’s corporate information technology infrastructure and non-capitalizable costs to develop and maintain its production systems. The following table sets forth expenses included in each category of corporate technology and production systems for the periods presented: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Corporate information technology $ 5,282 $ 4,922 $ 10,108 $ 10,189 Development of platform and product initiatives 4,924 4,280 10,484 8,694 Production support and maintenance 2,549 2,226 5,377 4,497 Total production systems 7,473 6,506 15,861 13,191 Total corporate technology and production systems $ 12,755 $ 11,428 $ 25,969 $ 23,380 Corporate information technology consists of salaries and benefits of personnel (including stock-based compensation expense) supporting internal operations such as information technology support and the maintenance of information security and business continuity functions. Also included are third-party costs including cloud computing costs that support the Company’s corporate internal systems, software licensing and maintenance, telecommunications and other technology infrastructure costs. Production systems costs consist of non-capitalizable personnel costs including contractor costs incurred for the development of platform and product initiatives and production support and maintenance. Platform and product initiatives facilitate the development of the Company’s technology platform and the launch of new screening products. Production support and maintenance includes costs to support and maintain the technology underlying the Company’s existing screening products and to enhance the ease of use of the Company’s cloud applications. Certain personnel costs related to new products and features are capitalized and amortized to depreciation and amortization. Included within corporate technology and production systems are non-capitalizable production system and corporate information technology expenses related to Project Ignite, a three-phase strategic investment initiative. Phase one of Project Ignite modernized client and candidate experiences and is complete. Phase two of Project Ignite focused on decommissioning the Company’s on-premises data centers and migrating the Company’s production systems and corporate information technological infrastructure to a managed service provider in the cloud. During the first half of 2021, the Company completed phase two initiatives related to the migration of its production and fulfillment systems to the cloud, and as a result, approximately 99% of revenue is processed through platforms hosted in the cloud. The Company incurred expenses related to phase two to complete the decommissioning of on-premises data centers for internal corporate technology infrastructure and migration to the cloud which was completed as of September 30, 2022. Phase three of Project Ignite was decommissioning of the platforms purchased over the prior ten years and the migration of the clients to one global platform. This third and final phase, which was completed in the first quarter of 2023, unified clients onto a single global platform. The Company’s core platform now processes approximately 79% of its global revenue.

Recent Accounting Standards Upd

Recent Accounting Standards Updates	6 Months Ended
	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Standards Updates	Recent Accounting Standards Updates The Company qualifies as an emerging growth company under the Jumpstart Our Business Startups Act (the “JOBS Act”). The JOBS Act permits extended transition periods for complying with new or revised accounting standards affecting public companies. The Company has elected to use the extended transition periods and is adopting new or revised accounting standards on the non-public company timeline of the Financial Accounting Standards Board (“FASB”). As such, the Company’s financial statements may not be comparable to financial statements of public entities that comply with new or revised accounting standards on a non-delayed basis. The Company will cease to be an emerging growth company upon the earliest of (a) the last day of the fiscal year in which it has total annual gross revenues of $1.235 billion or more; (b) the last day of its fiscal year following the fifth anniversary of the date of its initial public offering (“IPO”); (c) the date on which it has issued more than $1.0 billion in nonconvertible debt during the previous three years; or (d) the date on which it is deemed to be a “large accelerated filer” as defined in Rule 12b-2 under the Exchange Act, which would occur as of the last day of a fiscal year in which the market value of its common stock held by non-affiliates equals or exceeds $700 million as of the last business day of the second fiscal quarter of such fiscal year, which threshold was not exceeded as of June 30, 2024. Recently Issued Accounting Pronouncements Not Yet Effective In November 2023, the FASB issued Accounting Standard Update (“ASU”) 2023-07, Segment Reporting (Topic 280), Improvement to Reportable Segment Disclosures (“ASU 2023-07”) to enhance disclosures about a public entity's reportable segments and more detailed information about a reportable segment's expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is evaluating the impact that ASU 2023-07 will have on the financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures (“ASU 2023-09”), that improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. For public business entities, such as the Company, the standard is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is evaluating the impact that ASU 2023-09 will have on the financial statement disclosures.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions Vault Acquisition On January 2, 2024, the Company acquired the equity interests of Vault Workforce Screening (“Vault”), a U.S. clinic management platform, bringing a network of 17,000 clinics and a flexible service model to enhance our existing drug and health services. The purchase price for the Vault acquisition totaled approximately $76.1 million, was funded with $65.0 million of proceeds from the Revolving Credit Facility and available cash on hand and included initial contingent consideration of $2.8 million recorded at fair value. The Company incurred approximately $0.1 million and $0.2 million of transaction expenses related to the acquisition during the three and six months ended June 30, 2024, respectively The allocation of the purchase price is based on the fair value of assets acquired and liabilities assumed as of the applicable acquisition date. The determination of fair value of assets and liabilities requires the use of significant assumptions and estimates. These estimates are based on assumptions that management believes to be reasonable as well as a third party-prepared valuation analysis; however, final results may differ from these estimates. The following table summarizes the consideration paid and the amounts recognized for the assets acquired and liabilities assumed: Preliminary Purchase Price Allocation Adjusted Purchase Price Allocation (in thousands) March 31, Purchase Price Adjustments June 30, Consideration Cash $ 2,907 $ — $ 2,907 Accounts receivable 8,514 — 8,514 Other current assets 583 (67) 516 Property and equipment 38 — 38 Intangible assets 44,500 — 44,500 Total assets acquired $ 56,542 $ (67) $ 56,475 Accounts payable and accrued expenses 4,609 — 4,609 Total liabilities assumed $ 4,609 $ — $ 4,609 Total identifiable net assets 51,933 (67) 51,866 Goodwill 24,203 25 24,228 Total consideration $ 76,136 $ (42) $ 76,094 Goodwill recognized is primarily attributable to assembled workforce and expected synergies and is tax deductible in future years. Intangible assets acquired consist largely of customer lists in the amount of $39.0 million to be amortized over 12 years. The remaining intangible assets include trade names and developed technology, which will be amortized over two years and seven years, respectively. As the acquisition of Vault occurred on January 2, 2024, Vault’s results have been fully consolidated in our unaudited condensed consolidated statement of operations and comprehensive (loss) income for the three and six months ended June 30, 2024. Our revenues for the three and six months ended June 30, 2024 include $11.9 million and $25.2 million of revenues attributable to Vault, respectively. The following unaudited pro forma results for the three and six months ended June 30, 2023 show the effect on the Company’s revenues as if the acquisition of Vault had occurred on January 1, 2023. The pro forma results presented are the result of combining the revenues of the Company with the revenues of Vault for the three and six months ended June 30, 2023: (in thousands) Three Months Ended Six Months Ended Revenues $205,276 $400,914 Pro forma net operating results are not presented as they were determined to not be material to the total net operating results of the Company. The Company did not have any material, non-recurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue. The pro forma information is presented for illustrative purposes only and may not be indicative of the future results or results of operations that would have actually occurred had the acquisition of Vault occurred as presented. Further, the above pro forma amounts do not consider any potential synergies that may result from the transaction. In addition, future results may vary significantly from the results reflected in such pro forma information. Socrates and A-Check Acquisitions On January 4, 2023, the Company acquired all of the outstanding shares of Socrates Limited and its affiliates (“Socrates”), a screening company in Latin America, pursuant to a share purchase agreement. The Socrates acquisition expands the Company’s global presence into Latin America to serve the rapidly growing regional hiring needs of both multi-national and local clients. On March 1, 2023, the Company acquired all of the outstanding shares of A-Check Global (“A-Check”), a U.S.-based employment screening organization, pursuant to a share purchase agreement. The A-Check acquisition provides the Company access to a high quality, enterprise-focused customer base diversified across verticals including healthcare and telecom. The aggregate adjusted purchase price for the acquisitions totaled approximately $66.2 million, of which $49.5 million was funded with available cash on hand and is subject to certain closing adjustments specified in the share purchase agreements and includes initial contingent consideration related to the A-Check acquisition of $4.7 million recorded at fair value. The contingent consideration was determined based on actual future results. The initial fair value of the contingent consideration consisted of $2.6 million for an earn-out payable one year after the acquisition based upon revenue retention and a $2.1 million payable throughout the second and third year following the acquisition based on revenue retention and referral revenue. The Company recorded an allocation of the purchase price to assets acquired and liabilities assumed based on their estimated fair values as of their respective purchase dates. Additionally, in connection with the Socrates acquisition, $5.0 million is payable to certain senior employees two years after the acquisition date based on certain retention requirements. The Company incurred approximately $0.3 million and $2.0 million of transaction expenses related to the acquisitions during the three and six months ended June 30, 2023, respectively. During the six months ended June 30, 2024, the Company incurred approximately $0.2 million of transaction expenses related to the acquisitions. The allocation of the purchase price is based on the fair value of assets acquired and liabilities assumed as of the applicable acquisition date. The following table summarizes the consideration paid and the amounts recognized for the assets acquired and liabilities assumed: Preliminary Purchase Price Allocation Final Purchase Price Allocation (in thousands) March 31, Purchase Price Adjustments December 31, Consideration Cash $ 11,935 $ — $ 11,935 Other current assets Accounts receivable 4,279 (3) 4,276 Other current assets 805 447 1,252 Property and equipment 177 (1) 176 Intangible assets 32,141 (1,268) 30,873 Other long-term assets 6 — 6 Total assets acquired $ 49,343 $ (825) $ 48,518 Accounts payable and accrued expenses 1,156 94 1,250 Other current liabilities 1,291 (72) 1,219 Deferred tax liability 8,388 (1,163) 7,225 Other liabilities 2 788 790 Total liabilities assumed $ 10,837 $ (353) $ 10,484 Total identifiable net assets 38,506 (472) 38,034 Goodwill 27,352 766 28,118 Total consideration $ 65,858 $ 294 $ 66,152 Goodwill recognized is primarily attributable to assembled workforce and expected synergies and is not tax deductible in future years. Intangible assets acquired consist largely of customer lists in the amount of $28.0 million to be amortized over 15 years. The remaining intangible assets include trade names, developed technology and a non-compete agreement, which will be amortized over two years, eight years, and five years, respectively. The acquisitions are not material to the Company's financial position as of June 30, 2024 or results of operations for the three and six months ended June 30, 2024, and therefore, pro forma operating results and other disclosures for the acquisitions are not presented. EBI Acquisition On November 30, 2021, the Company acquired all of the outstanding shares of EBI for a purchase price of $67.8 million, consisting of $66.3 million of cash and $1.5 million of contingent consideration recorded at fair value. As of December 31, 2022, the purchase price was reduced by $0.3 million reflecting the final determination of the post-closing adjustment of the purchase price in accordance with the purchase agreement with EBI, resulting in an adjusted purchase price of $67.5 million. The receivable related to this adjustment was collected in February 2023. During the six months ended June 30, 2024, the Company recorded a $4.0 million out-of-period increase in the fair value of the contingent consideration, in accordance with the purchase agreement with EBI. Refer to “Note 2. Summary of Significant Accounting Policies” for further information regarding this out-of-period adjustment.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net (in thousands) June 30, December 31, Furniture and fixtures $ 1,194 $ 1,317 Computers and equipment 40,180 39,251 Leasehold improvements 1,876 2,067 43,250 42,635 Less: Accumulated depreciation (36,478) (34,940) Total property and equipment, net $ 6,772 $ 7,695 Depreciation expense on property and equipment was $0.9 million during the three months ended June 30, 2024 and 2023, and $1.8 million and $2.0 million for the six months ended June 30, 2024 and 2023, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The changes in the carrying amount of goodwill for the periods presented were as follows: (in thousands) Goodwill as of December 31, 2023 $ 879,408 Acquisition of Vault 24,228 Foreign currency translation adjustment (1,072) Goodwill as of June 30, 2024 $ 902,564 Intangible Assets Intangible assets, net consisted of the following for the periods presented: June 30, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer lists $ 571,801 $ (392,171) $ 179,630 $ 533,204 $ (375,107) $ 158,097 Trademarks 79,280 (46,663) 32,617 77,860 (43,815) 34,045 Non-compete agreements 3,975 (3,021) 954 3,979 (2,869) 1,110 Technology 280,349 (242,927) 37,422 266,194 (233,996) 32,198 Domain names 10,118 (5,692) 4,426 10,118 (5,356) 4,762 $ 945,523 $ (690,474) $ 255,049 $ 891,355 $ (661,143) $ 230,212 Included within technology is $32.2 million and $30.2 million of internal-use software, net of accumulated amortization, as of June 30, 2024 and December 31, 2023, respectively. As of June 30, 2024, $7.8 million of technology assets have not yet been put in service. The Company capitalized $10.4 million of costs to develop internal-use software included in technology during the six months ended June 30, 2024 (consisting of internal costs of $7.8 million and external costs of $2.6 million). The Company cap italized $8.6 million of costs to develop internal-use software included in technology during the six months ended June 30, 2023 (consisting of internal costs of $7.3 million and external costs of $1.3 million ). For the three months ended June 30, 2024 and June 30, 2023, the Company recorded a write-down of capitalized software in the amount of less than $0.1 million and $0.1 million, respectively. For the six months ended June 30, 2024 and June 30, 2023, the Company recorded a write-down of capitalized software in the amount of less than $0.1 million and $0.2 million, respectively. Amortization expense was $14.9 million and $15.2 million for the three months ended June 30, 2024 and 2023, respectively, and $29.8 million and $29.3 million for the six months ended June 30, 2024 and 2023, respectively. Except for the customer lists, which are amortized utilizing an accelerated method, all other intangible assets are amortized on a straight-line basis, which approximates the pattern in which economic benefits are consumed. Estimated amortization expense as of June 30, 2024 is as follows for each of the next five years: (in thousands) Remainder of fiscal year 2024 $ 31,410 2025 52,785 2026 44,164 2027 32,631 2028 25,291 Thereafter 68,768 $ 255,049

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses on the unaudited condensed consolidated balance sheets as of the periods presented consisted of the following: (in thousands) June 30, December 31, Accrued compensation $ 20,870 $ 20,495 Accrued cost of revenues 31,296 25,548 Accrued interest 700 321 Other accrued expenses 26,234 17,623 Total accrued expenses $ 79,100 $ 63,987

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company leases real estate and equipment for use in its operations. The Company has 15 operating leases with remaining lease terms ranging from 1 to 55 months as of June 30, 2024. The components of lease expense for the periods presented are as follows: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Components of total lease costs Operating lease expense $ 594 $ 2,607 $ 1,355 $ 3,986 Sublease income (323) (343) (711) (565) Total net lease costs $ 271 $ 2,264 $ 644 $ 3,421 Information related to the Company’s right-of-use assets and lease liabilities for the periods presented is as follows: (dollars in thousands) June 30, December 31, Operating leases Operating leases right-of-use asset $ 5,386 $ 6,452 Operating leases liability, current portion $ 3,490 $ 4,219 Long-term operating leases liability, net of current portion 6,054 7,278 Total operating leases liability $ 9,544 $ 11,497 Weighted average remaining lease term in years - operating leases 3.4 3.7 Weighted average discount rate - operating leases 4.84 % 4.92 % Total remaining lease payments under the Company’s operating leases (excluding short term leases) for the periods presented are as follows: (in thousands) June 30, 2024 Remainder of fiscal year 2024 $ 2,620 2025 2,439 2026 2,117 2027 2,149 2028 1,028 Thereafter 84 Total future minimum lease payments $ 10,437 Less: imputed interest (893) Total $ 9,544

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt On November 29, 2022, Sterling Infosystems, Inc. (the “Borrower”), a Delaware corporation and a subsidiary of the Company, entered into a credit agreement (the “2022 Credit Agreement”) by and among the Borrower, as borrower, Sterling Intermediate Corp., KeyBank National Association, as administrative agent (the “Administrative Agent”), certain guarantors party thereto and the lenders party thereto. The 2022 Credit Agreement provides for aggregate principal borrowings of $700.0 million, comprised of $300.0 million aggregate principal amount of term loans (the “Term Loans”) and a $400.0 million revolving credit facility (the “Revolving Credit Facility”). The Term Loans and the Revolving Credit Facility mature on November 29, 2027. The table below sets forth the Company’s long-term debt as presented in the unaudited condensed consolidated balance sheets for the periods presented: (in thousands) June 30, December 31, Current portion of long-term debt Term Loans $ 15,000 $ 15,000 Total current portion of long-term debt $ 15,000 $ 15,000 Long-term debt Term Loans, due November 29, 2027 (7.69% and 7.71% at June 30, 2024 and December 31, 2023, respectively) 270,000 277,500 Revolving Credit Facility 270,494 205,494 Unamortized discount and debt issuance costs (2,798) (3,206) Total long-term debt, net $ 537,696 $ 479,788 The estimated fair value of the Company’s 2022 Credit Agreement was $543.0 million and $484.1 million as of June 30, 2024 and December 31, 2023, respectively. These fair values were determined based on quoted prices in markets with similar instruments that are less active (Level 2 inputs as defined below) as an observable price of the 2022 Credit Agreement or similar liabilities is not readily available. The Company was in compliance with all financial covenants under its 2022 Credit Agreement as of June 30, 2024.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or that would be paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. An asset or liability’s level in the hierarchy is based on the lowest level of input that is significant to the fair value measurement. The three levels of inputs used to measure fair value are as follows: Level 1 Quoted prices in active markets for identical assets and liabilities. Level 2 Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flows methodologies and similar techniques that use significant unobservable inputs. The Company considers the recorded value of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses to approximate the fair value of the respective assets and liabilities as of June 30, 2024 and December 31, 2023 based upon the short-term nature of such assets and liabilities (Level 1). See Note 9, “Debt” for discussion of the fair value of the Company’s debt. Interest rate swaps are measured at fair value on a recurring basis in the Company’s financial statements and are considered Level 2 financial instruments. Interest rate swaps are measured based on quoted prices for similar financial instruments and other observable inputs recognized. The currency forward agreements are typically cash settled in U.S. dollars for their fair value at or close to their settlement date. Contingent consideration related to acquisitions is considered a Level 3 financial instrument. As of June 30, 2024, the fair value of contingent consideration related to the January 2, 2024 acquisition of Vault, the March 1, 2023 acquisition of A-Check and the November 30, 2021 acquisition of EBI. As of December 31, 2023, the fair value of contingent consideration related to the March 1, 2023 acquisition of A-Check and the November 30, 2021 acquisition of EBI. The contingent consideration consists of estimated future payments related to the Company’s acquisitions, based on metrics such as revenue retention and referral revenue. The fair value is determined using various assumptions and estimates, including revenue and customer projections to forecast a range of outcomes for the contingent consideration. The Company reassesses the estimated fair value of the contingent consideration at the end of each reporting period based on the information available at the time. Changes in the significant unobservable inputs used may result in a significantly higher or lower fair value measurement. Changes in fair value of contingent consideration are recorded in selling, general and administrative expense in the condensed consolidated statements of operations and comprehensive (loss) income. The following tables present information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis and their assigned levels within the valuation hierarchy as of the periods presented: June 30, 2024 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash equivalents from money market funds $ 33,608 $ — $ — $ 33,608 Interest rate swaps $ — $ 1,940 $ — $ 1,940 Liabilities Interest rate swaps — 1,357 — 1,357 Contingent consideration — — 7,029 7,029 December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash equivalents from money market funds 11,593 — — 11,593 Interest rate swaps — 1,187 — 1,187 Liabilities Interest rate swaps — 5,357 — 5,357 Contingent consideration $ — $ — $ 2,989 $ 2,989 The following table summarizes the change in fair value of the Level 3 liabilities with significant unobservable inputs for the periods presented: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Fair value of contingent consideration, beginning of period $ 9,739 $ 5,620 $ 2,989 $ 1,219 Acquired liabilities — — 2,750 4,706 Cash payments — — — — Change in fair value of contingent consideration, net (1) (2,710) — 1,290 (305) Fair value of contingent consideration, end of period (2) $ 7,029 $ 5,620 $ 7,029 $ 5,620 _________________________ (1) During the three months ended June 30, 2024, the Company recorded a $2.7 million decrease in fair value of the contingent consideration, in accordance with the purchase agreement with Vault. During the six months ended June 30, 2024, the Company recorded a $4.0 million out-of-period adjustment to increase the fair value of the contingent consideration, in accordance with the purchase agreement with EBI. Refer to Note 2. Summary of Significant Accounting Policies” for further information regarding this out-of-period adjustment. (2) Recorded in Other current liabilities on the unaudited condensed consolidated balance sheets. During the three and six months ended June 30, 2024 and 2023, the Company did not re-measure any financial assets or liabilities at fair value on a nonrecurring basis. There were no transfers between levels during the periods presented.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Cash Flow Hedges For derivatives designated and that qualify as cash flow hedges for accounting purposes, the unrealized gain or loss on the derivative is initially recorded in accumulated OCI, reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item. Interest Rate Swap Hedges To reduce exposure to variability in expected future cash outflows on variable rate debt attributable to the changes in the applicable interest rates under the 2022 Credit Agreement, the Company entered into interest rate swaps to economically offset a portion of this risk. As of June 30, 2024, the Company had the following outstanding interest rate swap derivatives that were used to hedge its interest rate risks: Product Number of Instruments Effective Date Maturity Date Current Notional (1) Interest Rate Swap 4 February 28, 2023 November 29, 2027 $300.0 million USD _________________________ (1) The notional value steps down from $300.0 million to $150.0 million on February 27, 2026. All financial derivative instruments are carried at their fair value on the balance sheet. The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the unaudited condensed consolidated balance sheets as of the dates presented: Asset Derivatives June 30, 2024 December 31, 2023 (in thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Interest rate swaps Other current assets $ 1,940 Other current assets $ 1,187 Liability Derivatives June 30, 2024 December 31, 2023 (in thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Interest rate swaps Other liabilities $ 1,357 Other liabilities $ 5,357 The tables below present the effect of cash flow hedge accounting on accumulated OCI for the periods presented: Three Months Ended Three Months Ended (in thousands) 2024 2023 2024 2023 Derivatives designated as hedging instruments: Amount of Gain or (Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Interest rate swaps $ 1,500 $ 6,975 Interest expense $ 808 $ 552 Six Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Derivatives designated as hedging instruments: Amount of Gain or (Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Interest rate swaps $ 6,379 $ 98 Interest expense $ 1,626 $ 649 The table below presents the effect of the Company’s cash flow hedge accounting on the unaudited condensed consolidated statements of operations and comprehensive (loss) income for the periods presented: Three Months Ended 2024 2023 (in thousands) Interest Expense Total amounts of income and expense line items in which the effects of cash flow hedges are recorded $ 10,143 $ 8,990 Gain or (loss) on cash flow hedging relationships Interest rate swaps: Amount of gain or (loss) reclassified from accumulated OCI into income $ 808 $ 552 Six Months Ended 2024 2023 (in thousands) Interest Expense Total amounts of income and expense line items in which the effects of cash flow hedges are recorded $ 20,455 $ 17,598 Gain or (loss) on cash flow hedging relationships Interest rate swaps: Amount of gain or (loss) reclassified from accumulated OCI into income $ 1,626 $ 649 Amounts reported in accumulated OCI related to derivatives will be reclassified to interest expense as interest payments are made on the Company's variable-rate debt. Based on current interest rates, during the next twelve months, the Company estimates that an additional $1.9 million net gain will be reclassified from accumulated OCI as a decrease to interest expense. No gain or loss was reclassified from accumulated OCI into earnings as a result of forecasted transactions that failed to occur during the periods presented.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes During the three and six months ended June 30, 2024, the Company’s interim income tax provision was determined using the discrete effective tax rate method, as allowed by ASC Topic 740-270-30-18, “ Income Taxes - Interim Reporting.” The discrete method is applied when the application of the estimated annual effective tax rate yields an estimate that is not reliable and the actual effective rate for the year-to-date results represents the best estimate of the annual effective tax rate. The Company determined that since small changes in forecasted income would result in significant variability in the estimated annual effective tax rate, the discrete method is more appropriate than the annual effective tax rate method. The Company recorded a tax provision of $7.1 million and a tax benefit of $0.1 million for the three months ended June 30, 2024 and 2023, respectively, which resulted in an effective tax rate of 823.0% and (35.7)%, respectively. The Company recorded a tax benefit of $1.9 million and a tax provision of $1.0 million for the six months ended June 30, 2024 and 2023, respectively, which resulted in an effective tax rate of 11.9% and 52.7%, respectively. For the three and six months ended June 30, 2024 and 2023, the effective rate differs from the statutory rate mainly due to a jurisdictional mix of earnings and permanent items including the impact of stock-based compensation.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Merger Related In connection with entering into the Merger Agreement, on February 28, 2024 , the Company entered into a support agreement (the “Support Agreement”), by and among the Company, First Advantage and the Specified Stockholders. The Support Agreement will automatically terminate if the Merger Agreement is terminated in accordance with its terms. In connection with the Support Agreement and acting as a financial advisor to the Company, Goldman Sachs will receive a fee of up to $30.0 million for such services provided in connection with the Merger, of which $20.0 million is payable upon the completion of the Merger and an additional $10.0 million of which is payable at the sole discretion of the Company in connection with the completion of the Merger. Citigroup Global Markets Inc. also acted as financial advisor to the Company in connection with the Merger and will receive a fee of up to $20.0 million for such services, of which $5.0 million is payable in connection with delivery of the fairness opinion and $5.0 million of which is payable upon completion of the Merger, and an additional $10.0 million that is payable at the sole discretion of the Company upon completion of the Merger. The fairness opinion was delivered during the three months ended March 31, 2024 and the associated $5.0 million fee is recorded in selling, general and administrative expense in the unaudited condensed consolidated statements of operations and comprehensive (loss) income for the three and six months ended June 30, 2024. The Merger Agreement contains other termination rights for either or each of First Advantage and the Company, including, among others, by either party if the consummation of the Merger does not occur on or before 11:59 p.m., New York City time, on February 28, 2025 (the “Initial Outside Date”), subject to an extension of six months at First Advantage’s election (the “Extended Outside Date”) if on the Initial Outside Date all of the closing conditions except those relating to antitrust approvals have been satisfied or waived. Upon termination of the Merger Agreement under certain specified circumstances, including by the Company to enter into a definitive agreement with respect to a superior proposal in accordance with the terms of the Merger Agreement, the Company will be required to pay First Advantage a termination fee in the amount of $66.3 million . Upon termination of the Merger Agreement by either party because certain required antitrust approvals are not obtained (i) by the Initial Outside Date, First Advantage will be required to pay the Company a termination fee of $60.0 million or (ii) by the Extended Outside Date, First Advantage will be required to pay the Company a termination fee of $90.0 million . In addition, if First Advantage fails to consummate the Merger within five $100.0 million . Litigation The Company is party to both class actions and individual actions in the ordinary course of business. The matters typically allege violations of the Fair Credit Reporting Act (“FCRA”), as well as other claims. In addition, from time to time, the Company receives inquiries from regulatory bodies regarding its business. The Company accrues for the cost of resolving matters where it can be determined that a loss is both estimable and probable. Certain matters are in litigation and an estimate of the outcome and potential losses, if any, cannot be determined. Certain of these matters are covered by the Company’s insurance policies, subject to policy terms, including retentions. The Company does not believe that the resolution of current matters will result in a material adverse effect on the financial position, results of operations, or cash flows of the Company. As of June 30, 2024, the Company had a legal settlement obligation of $6.2 million and an offsetting insurance receivable of $2.9 million for the settlement of legal matters. As of December 31, 2023, the Company had a legal settlement obligation of $5.3 million and an offsetting insurance receivable of $2.9 million for the settlement of legal matters. Net legal settlement expense recorded in selling, general and administrative expense in the unaudited condensed consolidated statements of operations and comprehensive (loss) income for the three months ended June 30, 2024 and 2023 totaled $1.5 million and less than $0.1 million, respectively, and for the six months ended

Equity

Equity	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Equity	Equity Under the Company’s Amended and Restated Certificate of Incorporation, a total of 1,100,000,000 shares of all classes of stock are authorized, divided as follows: (i) 1,000,000,000 shares of common stock, par value $0.01 per share (“common stock”); and (ii) 100,000,000 shares of undesignated preferred stock, par value $0.01 per share (“preferred stock”). Each share of common stock is entitled to one vote on all matters on which holders of common stock are entitled to vote generally. Holders of common stock are entitled to be paid ratably any dividends as may be declared by the Board of Directors (in its sole discretion), subject to any preferential dividend rights of outstanding preferred stock (if any). No dividends have been declared or paid on the Company’s common stock through June 30, 2024. The Board of Directors is authorized to direct the issuance of the undesignated preferred stock in one or more series and to fix the designation of such series, the powers (including voting powers), preferences and relative, participating, optional and other special rights, and the qualifications, limitations or restrictions thereof, of such series of preferred stock and the number of shares of such series. On November 23, 2022, the Company’s board of directors authorized the repurchase of up to $100.0 million of the Company’s shares of common stock through December 31, 2024. The share repurchase program is being executed on a discretionary basis through open market repurchases, private transactions, or other transactions, including through block trades and Rule 10b-18 and Rule 10b5-1 trading plans. The Company is not obligated to repurchase any specific number of shares, and the timing and amount of any share repurchases will be subject to several factors including share price, trading volume, market conditions and capital allocation priorities. The share repurchase program may be suspended, terminated or modified without notice at any time. For the three months ended June 30, 2024, the Company did not repurchase any of its common stock. For the six months ended June 30, 2024, the Company repurchased 494,157 shares of its common stock for $6.8 million, inclusive of commissions and taxes.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense is recognized in cost of revenues, corporate technology and production systems, and selling, general and administrative expense in the accompanying unaudited condensed consolidated statements of operations and comprehensive (loss) income as follows: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Stock-based compensation expense Cost of revenues $ 369 $ 394 $ 728 $ 822 Corporate technology and production systems 888 605 1,707 1,217 Selling, general and administrative 10,446 8,359 18,610 15,362 Total stock-based compensation expense $ 11,703 $ 9,358 $ 21,045 $ 17,401 Prior to the IPO, all share-based awards were issued to employees under the Company’s 2015 Long-Term Equity Incentive Plan (the “2015 Plan”). Upon the adoption of the Sterling Check Corp. 2021 Omnibus Incentive Plan (the “2021 Equity Plan”) on August 4, 2021 and as of September 22, 2021, all newly granted share-based awards have been issued under the 2021 Equity Plan. As of June 30, 2024, the Company had approximately $82.4 million of unrecognized pre-tax non-cash stock-based compensation expense related to awards granted under the 2021 Equity Plan, consisting of approximately $16.0 million related to non-qualified stock options (“NQSOs”), $65.7 million related to restricted stock, and approximately $0.7 million related to restricted stock units (“RSUs”), all of which the Company expects to recognize over a weighted average period of 2.0 years. 2015 Long-Term Equity Incentive Plan Pursuant to the Company’s 2015 Plan, the Company granted performance-based stock options (“PSOs”) and service-based vesting stock options (“SVOs”). On August 4, 2021, the Company amended each option outstanding under the 2015 Plan to (i) accelerate vesting upon an initial public offering and (ii) permit each option to be exercised following termination for any reason for the period set forth in the applicable award agreement or, if longer, an extended post-termination exercise period that would end on the date that is six months following the second anniversary of the effective date of the initial public offering, provided that if such date falls during a blackout period, the post-termination exercise period will be extended until the date that is thirty days after the commencement of the Company’s next open trading window. The table below provides a summary of SVOs and PSOs currently outstanding under the 2015 Plan for the six months ended June 30, 2024: Outstanding SVOs Outstanding PSOs Number of Weighted Weighted Aggregate Number of Weighted Weighted Aggregate (in thousands, except shares and per share amounts) Balances as of December 31, 2023 5,635,742 $ 9.60 3.68 $ 24,349 3,036,930 $ 10.05 2.14 $ 11,732 Granted — — — — Forfeited / Expired (77,870) 9.68 458 — — Exercised (1,600,166) 9.63 8,760 (1,841,326) 10.30 10,482 Balances as of June 30, 2024 (1) 3,957,706 $ 9.59 4.19 $ 20,636 1,195,604 $ 9.68 4.60 $ 6,118 _________________________ (1) All SVOs and PSOs are exercisable as of June 30, 2024. Of the $42.6 million of proceeds from the exercise of employee stock options less $7.7 million of cash paid for tax withholding on those exercises included on the unaudited condensed consolidated statements of cash flows for the six months ended June 30, 2024, $0.5 million relates to options exercised prior to, but settled during the six months ended June 30, 2024. As of December 31, 2023, these options were unsettled, but exercised, and were included in the additional paid-in capital balance as of December 31, 2023. 2021 Omnibus Incentive Plan On August 4, 2021, the Company’s board of directors adopted, and on August 13, 2021 the Company’s stockholders approved, the 2021 Equity Plan. Equity awards under the 2021 Equity Plan are intended to retain and motivate the Company’s officers and employees, consultants and non-employee directors and to promote the success of the Company’s business by providing such participating individuals with a proprietary interest in the performance of the Company. The 2021 Equity Plan will terminate on the ten Stock Options Options issued under the 2021 Equity Plan generally vest on various schedules over one The table below provides a summary of stock option activity under the 2021 Equity Plan for the six months ended June 30, 2024: Number of Shares Weighted Average Exercise Price Weighted Average Contractual Term Aggregate Intrinsic Value Weighted Average Fair Value Outstanding as of December 31, 2023 4,558,199 $ 21.14 8.06 $ 904 Granted — — Forfeited / Expired (29,310) 23.00 $ 10.24 Exercised — — Outstanding as of June 30, 2024 4,528,889 $ 21.12 7.56 $ 1,606 Exercisable as of June 30, 2024 1,978,435 $ 21.95 7.42 $ 394 Restricted Stock Restricted stock issued under the 2021 Equity Plan in connection with the Company’s initial public offering vests 50% on the second anniversary of the grant date and 25% on each of the third and four one The table below provides a summary of restricted stock activity under the 2021 Equity Plan for the six months ended June 30, 2024: Number of Shares Weighted Average Fair Value Unvested as of December 31, 2023 3,796,203 $ 16.40 Granted 2,092,029 15.90 Forfeited / Cancelled (145,496) 17.50 Vested (716,814) 10.98 Unvested as of June 30, 2024 5,025,922 $ 16.41 Restricted Stock Units Restricted stock units issued under the 2021 Equity Plan in connection with the Company’s initial public offering vest 50% on the second anniversary of the grant date and 25% on each of the third and four one The table below provides a summary of RSU activity under the 2021 Equity Plan for the six months ended June 30, 2024: Number of Shares Weighted Average Fair Value Unvested as of December 31, 2023 120,555 $ 15.82 Granted 6,347 15.92 Forfeited / Cancelled (18,994) 13.34 Vested (5,959) 10.06 Unvested as of June 30, 2024 101,949 $ 16.36 Employee Stock Purchase Plan

Net (Loss) Income Per Share

Net (Loss) Income Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net (Loss) Income Per Share	Net (Loss) Income Per Share The following table sets forth the computation of basic and diluted net (loss) income per share attributable to common stockholders for the periods presented: Three Months Ended Six Months Ended (in thousands, except share and per share amounts) 2024 2023 2024 2023 Numerator: Net (Loss) Income attributable to stockholders $ (6,232) $ 323 $ (14,187) $ 914 Denominator: Weighted average number of shares outstanding—basic 92,778,209 92,723,901 91,526,151 92,800,279 Weighted average additional shares assuming conversion of potential common shares — 1,774,765 — 2,123,801 Weighted average common shares outstanding—diluted 92,778,209 94,498,666 91,526,151 94,924,080 Net (loss) income per share attributable to stockholders, basic $ (0.07) $ 0.00 $ (0.16) $ 0.01 Net (loss) income per share attributable to stockholders, diluted $ (0.07) $ 0.00 $ (0.16) $ 0.01 The following table summarizes the weighted average potentially dilutive securities that were excluded from the computation of diluted net (loss) income per share because their effect would have been anti-dilutive for the periods presented: Three Months Ended Six Months Ended 2024 2023 2024 2023 Stock options 9,724,802 5,258,244 10,915,759 4,948,521 Restricted stock 5,042,094 4,376,479 4,496,061 3,879,743 Restricted stock units 102,541 47,703 108,444 48,707

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Goldman Sachs and some of its affiliates, each an affiliate of our Sponsor, are clients of the Company and the Company had sales to Goldman Sachs and some of its affiliates in the amount of $1.0 million and $0.7 million for the three months ended June 30, 2024 and 2023, respectively, and $2.1 million and $1.8 million for the six months ended June 30, 2024 and 2023, respectively. Outstanding accounts receivable from Goldman Sachs as of June 30, 2024 and December 31, 2023 were $0.4 million and $0.7 million, respectively. Additionally, the Company is currently a party to a $75.0 million notional value interest rate swap through November 29, 2027 with J. Aron & Company LLC, a wholly-owned subsidiary of Goldman Sachs. Outstanding accounts receivable from swap with J. Aaron & Company LLC were less than $0.1 million as of June 30, 2024 and December 31, 2023. In connection with entering into the Merger Agreement, on February 28, 2024, the Company entered into a Support Agreement by and among the Company, First Advantage and the Specified Stockholders. In connection with the Support Agreement and acting as a financial advisor to the Company, Goldman Sachs will receive a fee of up to $30.0 million for such services provided in connection with the Merger payable upon completion of the Merger. Refer to “Note 13. Commitments and Contingencies” for further information regarding these fees. An affiliate of certain stockholders that, to the Company’s knowledge, collectively own greater than 10% of the Company’s outstanding shares of common stock (the “Stockholders”) is a client of the Company, and the Company had sales to an affiliate of the Stockholders in the amount of less than $0.1 million for the three months ended June 30, 2024 and 2023, and $0.1 million for the six months ended June 30, 2024 and 2023. Outstanding accounts receivable from an affiliate of the Stockholders were less than $0.1 million as of June 30, 2024 and December 31, 2023.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Performance Obligations Substantially all of the Company’s revenues are recognized at a point in time as results from services are provided through a screening report and the customer takes control of the product when the report is completed. Accordingly, revenue is generally recognized at the point in time when the customer receives and can use the report. For revenue arrangements containing multiple products or services, the Company accounts for the individual products or services as separate performance obligations if they are distinct, the product or service is separately identifiable from other terms in the contract, and if a customer can benefit from it on its own or with other resources that are readily available to the customer. If these criteria are not met, the promised products or services are accounted for as a combined performance obligation. The Company allocates the contract price to each performance obligation based on the standalone selling prices of each distinct product or service in the contract. Disaggregation of Revenues The following tables set forth total revenue by type of service for the periods presented: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Screening services $ 199,071 $ 188,650 $ 382,091 $ 365,521 Other services 1,457 1,734 4,436 4,137 Total revenue $ 200,528 $ 190,384 $ 386,527 $ 369,658 The following table sets forth total revenue by geographic area in which the revenues and invoicing are recorded for the periods presented: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 United States $ 173,976 $ 162,198 $ 333,803 $ 311,940 All other countries 26,552 28,186 52,724 57,718 Total revenue $ 200,528 $ 190,384 $ 386,527 $ 369,658 Other than the U.S., no single country accounted for more than 10% of the Company’s total revenues during the three and six months ended June 30, 2024 and 2023. Substantially all of the Company’s long-lived assets were located in the U.S. as of June 30, 2024 and December 31, 2023. Contract Assets and Liabilities The incremental costs of obtaining a contract with a customer are recognized as an asset if the benefit of such costs is expected to be longer than one year, with a majority of contracts being multi-year. Incremental costs include commissions to the sales force and are amortized over three years, as management estimates that this corresponds to the period over which a customer benefits from the contract. As of June 30, 2024 and December 31, 2023, $3.4 million of deferred commissions are included in other current assets on the unaudited condensed consolidated balance sheets and approximately $2.5 million and $2.7 million, respectively, of deferred commissions are included in other noncurrent assets, net on the unaudited condensed consolidated balance sheets. The Company did not have any material contract liabilities as of June 30, 2024 and December 31, 2023. Concentrations For the three and six months ended June 30, 2024 and 2023, no single customer accounted for more than 10% of the Company’s revenue. No single customer had an accounts receivable balance greater than 10% of total accounts receivable as of June 30, 2024 and December 31, 2023.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events As of June 30, 2024, the Company had $555.5 million outstanding under the 2022 Credit Agreement, $129.5 million of capacity remaining under the Revolving Credit Facility and $0.7 million outstanding letters of credit. On July 18, 2024, the Company used available cash on hand to repay $20.0 million on the Revolving Credit Facility. As of the date of this filing, the Company has $535.5 million outstanding under the 2022 Credit Agreement, $149.5 million of capacity remaining under the Revolving Credit Facility and $0.7 million outstanding letters of credit.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (6,232)	$ (7,955)	$ 323	$ 591	$ (14,187)	$ 914

Insider Trading Arrangements

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

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include accounts of the Company and its wholly-owned subsidiaries. These unaudited condensed consolidated financial statements are unaudited; however, in the opinion of management, they reflect all adjustments including those of a normal recurring nature necessary to state fairly the financial position, results of operations and cash flows for the periods presented in conformity with GAAP applicable to interim periods. The results of operations for the interim periods presented are not necessarily indicative of results for the full year or future periods. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of December 31, 2023 and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on March 6, 2024.
Consolidation	All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments that can affect the reported amount of assets, liabilities, revenues, expenses and the disclosure of contingent assets, and liabilities. Significant estimates include the impairment of long-lived assets, goodwill impairment, derivative instruments and hedging activities, and the determination of the fair value of acquired assets, liabilities and contingent consideration. The Company believes that the estimates used in the preparation of these unaudited condensed consolidated financial statements are reasonable; however, actual results could differ materially from these estimates.
Risks and Uncertainties	Risks and Uncertainties The Company operates in an industry that is subject to intense competition, government regulation and rapid technological change. The Company’s operations are subject to significant risks and uncertainties including financial, operational, technological, regulatory, foreign operations, and other risks.
Segment Information	Segment Information
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents of $74.2 million and $54.2 million as of June 30, 2024 and December 31, 2023, respectively, include money market instruments with maturities of three months or less. The Company maintained cash outside the U.S. as of June 30, 2024 of $17.0 million with the largest deposits being held in Canada and Australia, with balances of $4.4 million and $2.7 million , respectively. Cash outside the U.S. was $19.3 million as of December 31, 2023, with the largest deposits being held in Australia and India, with balances of $6.2 million and $3.2 million , respectively.
Foreign Currency	Foreign Currency
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses Accounts receivable balances consist of trade receivables that are recorded at the invoiced amount, net of allowances for expected credit losses and for potential sales credits and reserves. Sales credits and reserves were $0.8 million and $1.2 million as of June 30, 2024 and December 31, 2023 , respectively. The Company maintains an allowance for expected credit losses in order to record accounts receivable at their net realizable value. Inherent in the assessment of the allowance for expected credit losses are certain judgments and estimates relating to, among other things, the Company’s customers’ access to capital, customers’ willingness and ability to pay, general economic conditions and the ongoing relationship with customers. Allowances have been recorded for receivables believed to be uncollectible, including amounts for the resolution of potential credit and other collection issues such as disputed invoices. The allowance for expected credit losses is determined by analyzing the Company’s historical write-offs, the current aging of receivables, the financial condition of customers and the general economic climate. Adjustments to the allowance may be required in future periods depending on how such potential issues are resolved or if the financial condition of the Company’s customers were to deteriorate resulting in an impairment of their ability to make payments. The Company has not historically had material write-offs due to uncollectible accounts receivable.
Corporate Technology and Production Systems	Corporate Technology and Production Systems Corporate technology and production systems includes costs related to maintaining the Company’s corporate information technology infrastructure and non-capitalizable costs to develop and maintain its production systems. Corporate information technology consists of salaries and benefits of personnel (including stock-based compensation expense) supporting internal operations such as information technology support and the maintenance of information security and business continuity functions. Also included are third-party costs including cloud computing costs that support the Company’s corporate internal systems, software licensing and maintenance, telecommunications and other technology infrastructure costs. Production systems costs consist of non-capitalizable personnel costs including contractor costs incurred for the development of platform and product initiatives and production support and maintenance. Platform and product initiatives facilitate the development of the Company’s technology platform and the launch of new screening products. Production support and maintenance includes costs to support and maintain the technology underlying the Company’s existing screening products and to enhance the ease of use of the Company’s cloud applications. Certain personnel costs related to new products and features are capitalized and amortized to depreciation and amortization. Included within corporate technology and production systems are non-capitalizable production system and corporate information technology expenses related to Project Ignite, a three-phase strategic investment initiative. Phase one of Project Ignite modernized client and candidate experiences and is complete. Phase two of Project Ignite focused on decommissioning the Company’s on-premises data centers and migrating the Company’s production systems and corporate information technological infrastructure to a managed service provider in the cloud. During the first half of 2021, the Company completed phase two initiatives related to the migration of its production and fulfillment systems to the cloud, and as a result, approximately 99% of revenue is processed through platforms hosted in the cloud. The Company incurred expenses related to phase two to complete the decommissioning of on-premises data centers for internal corporate technology infrastructure and migration to the cloud which was completed as of September 30, 2022. Phase three of Project Ignite was decommissioning of the platforms purchased over the prior ten years and the migration of the clients to one global platform. This third and final phase, which was completed in the first quarter of 2023, unified clients onto a single global platform. The Company’s core platform now processes approximately 79% of its global revenue.
Recently Issued Accounting Pronouncements Not Yet Effective	Recently Issued Accounting Pronouncements Not Yet Effective In November 2023, the FASB issued Accounting Standard Update (“ASU”) 2023-07, Segment Reporting (Topic 280), Improvement to Reportable Segment Disclosures (“ASU 2023-07”) to enhance disclosures about a public entity's reportable segments and more detailed information about a reportable segment's expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is evaluating the impact that ASU 2023-07 will have on the financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosures (“ASU 2023-09”), that improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. For public business entities, such as the Company, the standard is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is evaluating the impact that ASU 2023-09 will have on the financial statement disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of Allowance for Expected Credit Losses	The following table summarizes changes in the allowance for expected credit losses for the periods presented: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Balance as of beginning of period $ 2,933 $ 2,473 $ 2,816 $ 2,304 Additions 972 215 1,176 459 Write-offs, net of recoveries (692) (30) (774) (108) Foreign currency translation adjustment (1) — (6) 3 Balance as of end of period $ 3,212 $ 2,658 $ 3,212 $ 2,658
Schedule of Corporate Technology and Production Systems Expense	The following table sets forth expenses included in each category of corporate technology and production systems for the periods presented: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Corporate information technology $ 5,282 $ 4,922 $ 10,108 $ 10,189 Development of platform and product initiatives 4,924 4,280 10,484 8,694 Production support and maintenance 2,549 2,226 5,377 4,497 Total production systems 7,473 6,506 15,861 13,191 Total corporate technology and production systems $ 12,755 $ 11,428 $ 25,969 $ 23,380

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the consideration paid and the amounts recognized for the assets acquired and liabilities assumed: Preliminary Purchase Price Allocation Adjusted Purchase Price Allocation (in thousands) March 31, Purchase Price Adjustments June 30, Consideration Cash $ 2,907 $ — $ 2,907 Accounts receivable 8,514 — 8,514 Other current assets 583 (67) 516 Property and equipment 38 — 38 Intangible assets 44,500 — 44,500 Total assets acquired $ 56,542 $ (67) $ 56,475 Accounts payable and accrued expenses 4,609 — 4,609 Total liabilities assumed $ 4,609 $ — $ 4,609 Total identifiable net assets 51,933 (67) 51,866 Goodwill 24,203 25 24,228 Total consideration $ 76,136 $ (42) $ 76,094 Preliminary Purchase Price Allocation Final Purchase Price Allocation (in thousands) March 31, Purchase Price Adjustments December 31, Consideration Cash $ 11,935 $ — $ 11,935 Other current assets Accounts receivable 4,279 (3) 4,276 Other current assets 805 447 1,252 Property and equipment 177 (1) 176 Intangible assets 32,141 (1,268) 30,873 Other long-term assets 6 — 6 Total assets acquired $ 49,343 $ (825) $ 48,518 Accounts payable and accrued expenses 1,156 94 1,250 Other current liabilities 1,291 (72) 1,219 Deferred tax liability 8,388 (1,163) 7,225 Other liabilities 2 788 790 Total liabilities assumed $ 10,837 $ (353) $ 10,484 Total identifiable net assets 38,506 (472) 38,034 Goodwill 27,352 766 28,118 Total consideration $ 65,858 $ 294 $ 66,152
Schedule of Pro Forma Results	The pro forma results presented are the result of combining the revenues of the Company with the revenues of Vault for the three and six months ended June 30, 2023: (in thousands) Three Months Ended Six Months Ended Revenues $205,276 $400,914

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property Plant and Equipment, net	(in thousands) June 30, December 31, Furniture and fixtures $ 1,194 $ 1,317 Computers and equipment 40,180 39,251 Leasehold improvements 1,876 2,067 43,250 42,635 Less: Accumulated depreciation (36,478) (34,940) Total property and equipment, net $ 6,772 $ 7,695

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the periods presented were as follows: (in thousands) Goodwill as of December 31, 2023 $ 879,408 Acquisition of Vault 24,228 Foreign currency translation adjustment (1,072) Goodwill as of June 30, 2024 $ 902,564
Summary of Intangible Assets	Intangible assets, net consisted of the following for the periods presented: June 30, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer lists $ 571,801 $ (392,171) $ 179,630 $ 533,204 $ (375,107) $ 158,097 Trademarks 79,280 (46,663) 32,617 77,860 (43,815) 34,045 Non-compete agreements 3,975 (3,021) 954 3,979 (2,869) 1,110 Technology 280,349 (242,927) 37,422 266,194 (233,996) 32,198 Domain names 10,118 (5,692) 4,426 10,118 (5,356) 4,762 $ 945,523 $ (690,474) $ 255,049 $ 891,355 $ (661,143) $ 230,212
Schedule of Estimated Future Amortization Expense	Estimated amortization expense as of June 30, 2024 is as follows for each of the next five years: (in thousands) Remainder of fiscal year 2024 $ 31,410 2025 52,785 2026 44,164 2027 32,631 2028 25,291 Thereafter 68,768 $ 255,049

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses on the unaudited condensed consolidated balance sheets as of the periods presented consisted of the following: (in thousands) June 30, December 31, Accrued compensation $ 20,870 $ 20,495 Accrued cost of revenues 31,296 25,548 Accrued interest 700 321 Other accrued expenses 26,234 17,623 Total accrued expenses $ 79,100 $ 63,987

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Lease Expense	The components of lease expense for the periods presented are as follows: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Components of total lease costs Operating lease expense $ 594 $ 2,607 $ 1,355 $ 3,986 Sublease income (323) (343) (711) (565) Total net lease costs $ 271 $ 2,264 $ 644 $ 3,421
Schedule of Right-of-Use Assets and Lease Liabilities	Information related to the Company’s right-of-use assets and lease liabilities for the periods presented is as follows: (dollars in thousands) June 30, December 31, Operating leases Operating leases right-of-use asset $ 5,386 $ 6,452 Operating leases liability, current portion $ 3,490 $ 4,219 Long-term operating leases liability, net of current portion 6,054 7,278 Total operating leases liability $ 9,544 $ 11,497 Weighted average remaining lease term in years - operating leases 3.4 3.7 Weighted average discount rate - operating leases 4.84 % 4.92 %
Schedule of Remaining Lease Payments	Total remaining lease payments under the Company’s operating leases (excluding short term leases) for the periods presented are as follows: (in thousands) June 30, 2024 Remainder of fiscal year 2024 $ 2,620 2025 2,439 2026 2,117 2027 2,149 2028 1,028 Thereafter 84 Total future minimum lease payments $ 10,437 Less: imputed interest (893) Total $ 9,544

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The table below sets forth the Company’s long-term debt as presented in the unaudited condensed consolidated balance sheets for the periods presented: (in thousands) June 30, December 31, Current portion of long-term debt Term Loans $ 15,000 $ 15,000 Total current portion of long-term debt $ 15,000 $ 15,000 Long-term debt Term Loans, due November 29, 2027 (7.69% and 7.71% at June 30, 2024 and December 31, 2023, respectively) 270,000 277,500 Revolving Credit Facility 270,494 205,494 Unamortized discount and debt issuance costs (2,798) (3,206) Total long-term debt, net $ 537,696 $ 479,788

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis	The following tables present information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis and their assigned levels within the valuation hierarchy as of the periods presented: June 30, 2024 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash equivalents from money market funds $ 33,608 $ — $ — $ 33,608 Interest rate swaps $ — $ 1,940 $ — $ 1,940 Liabilities Interest rate swaps — 1,357 — 1,357 Contingent consideration — — 7,029 7,029 December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash equivalents from money market funds 11,593 — — 11,593 Interest rate swaps — 1,187 — 1,187 Liabilities Interest rate swaps — 5,357 — 5,357 Contingent consideration $ — $ — $ 2,989 $ 2,989
Schedule of Fair Value of the Level 3 Liabilities with Significant Unobservable Inputs	The following table summarizes the change in fair value of the Level 3 liabilities with significant unobservable inputs for the periods presented: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Fair value of contingent consideration, beginning of period $ 9,739 $ 5,620 $ 2,989 $ 1,219 Acquired liabilities — — 2,750 4,706 Cash payments — — — — Change in fair value of contingent consideration, net (1) (2,710) — 1,290 (305) Fair value of contingent consideration, end of period (2) $ 7,029 $ 5,620 $ 7,029 $ 5,620 _________________________ (1) During the three months ended June 30, 2024, the Company recorded a $2.7 million decrease in fair value of the contingent consideration, in accordance with the purchase agreement with Vault. During the six months ended June 30, 2024, the Company recorded a $4.0 million out-of-period adjustment to increase the fair value of the contingent consideration, in accordance with the purchase agreement with EBI. Refer to Note 2. Summary of Significant Accounting Policies” for further information regarding this out-of-period adjustment. (2) Recorded in Other current liabilities on the unaudited condensed consolidated balance sheets.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Company's Outstanding Derivatives	As of June 30, 2024, the Company had the following outstanding interest rate swap derivatives that were used to hedge its interest rate risks: Product Number of Instruments Effective Date Maturity Date Current Notional (1) Interest Rate Swap 4 February 28, 2023 November 29, 2027 $300.0 million USD _________________________ (1) The notional value steps down from $300.0 million to $150.0 million on February 27, 2026.
Schedule of Fair Value of Derivative Financial Instruments	All financial derivative instruments are carried at their fair value on the balance sheet. The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the unaudited condensed consolidated balance sheets as of the dates presented: Asset Derivatives June 30, 2024 December 31, 2023 (in thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Interest rate swaps Other current assets $ 1,940 Other current assets $ 1,187 Liability Derivatives June 30, 2024 December 31, 2023 (in thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Interest rate swaps Other liabilities $ 1,357 Other liabilities $ 5,357
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The tables below present the effect of cash flow hedge accounting on accumulated OCI for the periods presented: Three Months Ended Three Months Ended (in thousands) 2024 2023 2024 2023 Derivatives designated as hedging instruments: Amount of Gain or (Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Interest rate swaps $ 1,500 $ 6,975 Interest expense $ 808 $ 552 Six Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Derivatives designated as hedging instruments: Amount of Gain or (Loss) Recognized in OCI on Derivative Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Interest rate swaps $ 6,379 $ 98 Interest expense $ 1,626 $ 649
Schedule of Consolidated Statements of Operations and Comprehensive (Loss) Income	The table below presents the effect of the Company’s cash flow hedge accounting on the unaudited condensed consolidated statements of operations and comprehensive (loss) income for the periods presented: Three Months Ended 2024 2023 (in thousands) Interest Expense Total amounts of income and expense line items in which the effects of cash flow hedges are recorded $ 10,143 $ 8,990 Gain or (loss) on cash flow hedging relationships Interest rate swaps: Amount of gain or (loss) reclassified from accumulated OCI into income $ 808 $ 552 Six Months Ended 2024 2023 (in thousands) Interest Expense Total amounts of income and expense line items in which the effects of cash flow hedges are recorded $ 20,455 $ 17,598 Gain or (loss) on cash flow hedging relationships Interest rate swaps: Amount of gain or (loss) reclassified from accumulated OCI into income $ 1,626 $ 649

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense is recognized in cost of revenues, corporate technology and production systems, and selling, general and administrative expense in the accompanying unaudited condensed consolidated statements of operations and comprehensive (loss) income as follows: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Stock-based compensation expense Cost of revenues $ 369 $ 394 $ 728 $ 822 Corporate technology and production systems 888 605 1,707 1,217 Selling, general and administrative 10,446 8,359 18,610 15,362 Total stock-based compensation expense $ 11,703 $ 9,358 $ 21,045 $ 17,401
Schedule of Share-based Payment Arrangement, Option, Activity	The table below provides a summary of SVOs and PSOs currently outstanding under the 2015 Plan for the six months ended June 30, 2024: Outstanding SVOs Outstanding PSOs Number of Weighted Weighted Aggregate Number of Weighted Weighted Aggregate (in thousands, except shares and per share amounts) Balances as of December 31, 2023 5,635,742 $ 9.60 3.68 $ 24,349 3,036,930 $ 10.05 2.14 $ 11,732 Granted — — — — Forfeited / Expired (77,870) 9.68 458 — — Exercised (1,600,166) 9.63 8,760 (1,841,326) 10.30 10,482 Balances as of June 30, 2024 (1) 3,957,706 $ 9.59 4.19 $ 20,636 1,195,604 $ 9.68 4.60 $ 6,118 _________________________ (1) All SVOs and PSOs are exercisable as of June 30, 2024. The table below provides a summary of stock option activity under the 2021 Equity Plan for the six months ended June 30, 2024: Number of Shares Weighted Average Exercise Price Weighted Average Contractual Term Aggregate Intrinsic Value Weighted Average Fair Value Outstanding as of December 31, 2023 4,558,199 $ 21.14 8.06 $ 904 Granted — — Forfeited / Expired (29,310) 23.00 $ 10.24 Exercised — — Outstanding as of June 30, 2024 4,528,889 $ 21.12 7.56 $ 1,606 Exercisable as of June 30, 2024 1,978,435 $ 21.95 7.42 $ 394
Schedule of Restricted Stock Activity	The table below provides a summary of restricted stock activity under the 2021 Equity Plan for the six months ended June 30, 2024: Number of Shares Weighted Average Fair Value Unvested as of December 31, 2023 3,796,203 $ 16.40 Granted 2,092,029 15.90 Forfeited / Cancelled (145,496) 17.50 Vested (716,814) 10.98 Unvested as of June 30, 2024 5,025,922 $ 16.41 The table below provides a summary of RSU activity under the 2021 Equity Plan for the six months ended June 30, 2024: Number of Shares Weighted Average Fair Value Unvested as of December 31, 2023 120,555 $ 15.82 Granted 6,347 15.92 Forfeited / Cancelled (18,994) 13.34 Vested (5,959) 10.06 Unvested as of June 30, 2024 101,949 $ 16.36

Net (Loss) Income Per Share (Ta

Net (Loss) Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders	The following table sets forth the computation of basic and diluted net (loss) income per share attributable to common stockholders for the periods presented: Three Months Ended Six Months Ended (in thousands, except share and per share amounts) 2024 2023 2024 2023 Numerator: Net (Loss) Income attributable to stockholders $ (6,232) $ 323 $ (14,187) $ 914 Denominator: Weighted average number of shares outstanding—basic 92,778,209 92,723,901 91,526,151 92,800,279 Weighted average additional shares assuming conversion of potential common shares — 1,774,765 — 2,123,801 Weighted average common shares outstanding—diluted 92,778,209 94,498,666 91,526,151 94,924,080 Net (loss) income per share attributable to stockholders, basic $ (0.07) $ 0.00 $ (0.16) $ 0.01 Net (loss) income per share attributable to stockholders, diluted $ (0.07) $ 0.00 $ (0.16) $ 0.01
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the weighted average potentially dilutive securities that were excluded from the computation of diluted net (loss) income per share because their effect would have been anti-dilutive for the periods presented: Three Months Ended Six Months Ended 2024 2023 2024 2023 Stock options 9,724,802 5,258,244 10,915,759 4,948,521 Restricted stock 5,042,094 4,376,479 4,496,061 3,879,743 Restricted stock units 102,541 47,703 108,444 48,707

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables set forth total revenue by type of service for the periods presented: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Screening services $ 199,071 $ 188,650 $ 382,091 $ 365,521 Other services 1,457 1,734 4,436 4,137 Total revenue $ 200,528 $ 190,384 $ 386,527 $ 369,658
Schedule of Total Revenue by Geographic Area	The following table sets forth total revenue by geographic area in which the revenues and invoicing are recorded for the periods presented: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 United States $ 173,976 $ 162,198 $ 333,803 $ 311,940 All other countries 26,552 28,186 52,724 57,718 Total revenue $ 200,528 $ 190,384 $ 386,527 $ 369,658

Description of Business (Detail

Description of Business (Details)	Jun. 30, 2024
Sterling Check Corp.
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Ownership percentage	51%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional information (Details) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) Segment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 30, 2021 USD ($)	Jun. 30, 2021
Accounting Policies [Line Items]
Selling, general and administrative	$ 50,379		$ 44,910		$ 110,269	$ 92,361
Other current liabilities	15,458				15,458		$ 11,839
Net income	6,232	$ 7,955	(323)	$ (591)	14,187	(914)
Liabilities	729,113				729,113		661,499
Income tax benefit	(7,094)		$ 85		$ 1,924	$ (1,017)
Number of reportable segments | Segment					1
Number of operating segments | Segment					1
Cash and cash equivalents	74,182				$ 74,182		54,224
Cumulative translation adjustment gain (loss)	(5,100)				(5,100)		(2,900)
Sales credits and reserves					800		1,200
Percentage of cloud-hosted platform revenue processed										99%
Percentage of core platform revenue processed				79%
Outside US
Accounting Policies [Line Items]
Cash	17,000				17,000		19,300
Canada
Accounting Policies [Line Items]
Cash	4,400				4,400
AUSTRALIA
Accounting Policies [Line Items]
Cash	2,700				2,700		6,200
India
Accounting Policies [Line Items]
Cash							3,200
EBI
Accounting Policies [Line Items]
Contingent consideration									$ 1,500
Revision of Prior Period, Error Correction, Adjustment
Accounting Policies [Line Items]
Selling, general and administrative		4,000
Other current liabilities		4,000
Net income							2,000	$ 2,000
Liabilities							4,000	$ 2,000
Income tax benefit		$ 700
Revision of Prior Period, Error Correction, Adjustment | EBI
Accounting Policies [Line Items]
Contingent consideration	$ 4,000				$ 4,000		$ 4,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Accounts Receivable, Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 2,933	$ 2,473	$ 2,816	$ 2,304
Additions	972	215	1,176	459
Write-offs, net of recoveries	(692)	(30)	(774)	(108)
Foreign currency translation adjustment	(1)	0	(6)	3
Balance at end of period	$ 3,212	$ 2,658	$ 3,212	$ 2,658

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Corporate Technology and Production Systems Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Corporate information technology	$ 5,282	$ 4,922	$ 10,108	$ 10,189
Development of platform and product initiatives	4,924	4,280	10,484	8,694
Production support and maintenance	2,549	2,226	5,377	4,497
Total production systems	7,473	6,506	15,861	13,191
Total corporate technology and production systems	$ 12,755	$ 11,428	$ 25,969	$ 23,380

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) clinic in Thousands					3 Months Ended			6 Months Ended		9 Months Ended	13 Months Ended
	Jan. 02, 2024 USD ($) clinic	Mar. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 30, 2021 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Other current liabilities					$ 15,458,000			$ 15,458,000		$ 11,839,000
Selling, general and administrative					50,379,000		$ 44,910,000	110,269,000	$ 92,361,000
Revision of Prior Period, Error Correction, Adjustment
Business Acquisition [Line Items]
Other current liabilities						$ 4,000,000
Selling, general and administrative						$ 4,000,000
Vault
Business Acquisition [Line Items]
Purchase price	$ 76,100,000
Contingent consideration	2,800,000
Transaction expenses					100,000			200,000
Revenues attributable to acquiree					11,900,000			25,200,000
Total consideration, purchase price adjustment					42,000
Vault | Customer lists
Business Acquisition [Line Items]
Finite lived assets acquired	$ 39,000,000
Useful life of assets acquired	12 years
Vault | Trade Names
Business Acquisition [Line Items]
Useful life of assets acquired	2 years
Vault | Developed Technology
Business Acquisition [Line Items]
Useful life of assets acquired	7 years
Vault | Revolving Credit Facility
Business Acquisition [Line Items]
Proceeds from lines of credit	$ 65,000,000
Vault | Office
Business Acquisition [Line Items]
Number of clinics acquired | clinic	17
Socrates Limited And A-Check
Business Acquisition [Line Items]
Purchase price		$ 66,200,000
Cash purchase price		49,500,000
Tax deductible goodwill		0
Total consideration, purchase price adjustment										(294,000)
Socrates Limited And A-Check | Customer lists
Business Acquisition [Line Items]
Finite lived assets acquired		$ 28,000,000
Useful life of assets acquired		15 years
Socrates Limited And A-Check | Trade Names
Business Acquisition [Line Items]
Useful life of assets acquired		2 years
Socrates Limited And A-Check | Developed Technology
Business Acquisition [Line Items]
Useful life of assets acquired		8 years
Socrates Limited And A-Check | Non-compete agreements
Business Acquisition [Line Items]
Useful life of assets acquired		5 years
A-Check
Business Acquisition [Line Items]
Contingent consideration		$ 4,700,000
Current portion of contingent consideration		$ 2,600,000
Contingent consideration period		1 year
Noncurrent portion of contingent consideration		$ 2,100,000
Socrates
Business Acquisition [Line Items]
Transaction expenses							$ 300,000	200,000	$ 2,000,000
Retention requirements payable		$ 5,000,000
Period of retention requirements payable		2 years
EBI
Business Acquisition [Line Items]
Purchase price			$ 67,500,000	$ 67,800,000
Contingent consideration				1,500,000
Cash purchase price				$ 66,300,000
Total consideration, purchase price adjustment											$ (300,000)
EBI | Revision of Prior Period, Error Correction, Adjustment
Business Acquisition [Line Items]
Contingent consideration					$ 4,000,000			$ 4,000,000		$ 4,000,000

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Other current assets
Goodwill	$ 902,564	$ 879,408
Vault
Consideration
Cash	2,907		$ 2,907
Other current assets
Accounts receivable	8,514		8,514
Other current assets	516		583
Property and equipment	38		38
Intangible assets	44,500		44,500
Total assets acquired	56,475		56,542
Accounts payable and accrued expenses	4,609		4,609
Total liabilities assumed	4,609		4,609
Total identifiable net assets	51,866		51,933
Goodwill	24,228		24,203
Total consideration	76,094		$ 76,136
Purchase Price Adjustments
Other current assets	(67)
Total assets acquired	(67)
Total identifiable net assets	(67)
Goodwill	25
Total consideration	$ (42)
Socrates Limited And A-Check
Consideration
Cash		11,935		$ 11,935
Other current assets
Accounts receivable		4,276		4,279
Other current assets		1,252		805
Property and equipment		176		177
Intangible assets		30,873		32,141
Other long-term assets		6		6
Total assets acquired		48,518		49,343
Accounts payable and accrued expenses		1,250		1,156
Other current liabilities		1,219		1,291
Deferred tax liability		7,225		8,388
Other liabilities		790		2
Total liabilities assumed		10,484		10,837
Total identifiable net assets		38,034		38,506
Goodwill		28,118		27,352
Total consideration		66,152		$ 65,858
Purchase Price Adjustments
Accounts receivable		(3)
Other current assets		447
Property and equipment		(1)
Intangible assets		(1,268)
Total assets acquired		(825)
Accounts payable and accrued expenses		94
Other current liabilities		(72)
Deferred tax liability		(1,163)
Other liabilities		788
Total liabilities assumed		(353)
Total identifiable net assets		(472)
Goodwill		766
Total consideration		$ 294

Acquisitions - Pro Forma (Detai

Acquisitions - Pro Forma (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Vault
Business Acquisition [Line Items]
Revenues	$ 205,276	$ 400,914

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 43,250	$ 42,635
Less: Accumulated depreciation	(36,478)	(34,940)
Total property and equipment, net	6,772	7,695
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,194	1,317
Computers and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	40,180	39,251
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,876	$ 2,067

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 900,000	$ 900,000	$ 1,800,000	$ 2,000,000
Write down of abandoned property and equipment no longer in use	$ 0	$ 1,700,000	$ 200,000	$ 1,700,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 879,408
Acquisition of Vault	24,228
Foreign currency translation adjustment	(1,072)
Goodwill, ending balance	$ 902,564

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 945,523	$ 891,355
Accumulated Amortization	(690,474)	(661,143)
Net	255,049	230,212
Customer lists
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	571,801	533,204
Accumulated Amortization	(392,171)	(375,107)
Net	179,630	158,097
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	79,280	77,860
Accumulated Amortization	(46,663)	(43,815)
Net	32,617	34,045
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,975	3,979
Accumulated Amortization	(3,021)	(2,869)
Net	954	1,110
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	280,349	266,194
Accumulated Amortization	(242,927)	(233,996)
Net	37,422	32,198
Domain names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,118	10,118
Accumulated Amortization	(5,692)	(5,356)
Net	$ 4,426	$ 4,762

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Indefinite-lived Intangible Assets [Line Items]
Net intangibles	$ 255,049		$ 255,049		$ 230,212
Capitalized computer software, impairments (less than)	100	$ 100	100	$ 200
Amortization of intangible assets	14,900	$ 15,200	29,300	29,800
Software and Software Development Costs
Indefinite-lived Intangible Assets [Line Items]
Net intangibles	32,200		32,200		30,200
Capitalized computer software, additions			10,400	8,600
Software and Software Development Costs | Internal Cost
Indefinite-lived Intangible Assets [Line Items]
Capitalized computer software, additions			7,800	7,300
Software and Software Development Costs | External Cost
Indefinite-lived Intangible Assets [Line Items]
Capitalized computer software, additions			2,600	$ 1,300
Technology
Indefinite-lived Intangible Assets [Line Items]
Net intangibles	37,422		37,422		$ 32,198
Finite lived intangible assets, not yet in service	$ 7,800		$ 7,800

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of fiscal year 2024	$ 31,410
2025	52,785
2026	44,164
2027	32,631
2028	25,291
Thereafter	68,768
Net	$ 255,049	$ 230,212

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued compensation	$ 20,870	$ 20,495
Accrued cost of revenues	31,296	25,548
Accrued interest	700	321
Other accrued expenses	26,234	17,623
Total accrued expenses	$ 79,100	$ 63,987

Leases - Additional Information

Leases - Additional Information (Details)	Jun. 30, 2024 lease
Lessee, Lease, Description [Line Items]
Number of operating leases	15
Minimum
Lessee, Lease, Description [Line Items]
Remaining operating lease term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Remaining operating lease term	55 months

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Components of total lease costs
Operating lease expense	$ 594	$ 2,607	$ 1,355	$ 3,986
Sublease income	(323)	(343)	(711)	(565)
Total net lease costs	$ 271	$ 2,264	$ 644	$ 3,421

Leases - Schedule of Right-of-U

Leases - Schedule of Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating leases right-of-use asset	$ 5,386	$ 6,452
Operating leases liability, current portion	3,490	4,219
Long-term operating leases liability, net of current portion	6,054	7,278
Total operating leases liability	$ 9,544	$ 11,497
Weighted average remaining lease term in years - operating leases	3 years 4 months 24 days	3 years 8 months 12 days
Weighted average discount rate - operating leases	4.84%	4.92%

Leases - Schedule of Remaining

Leases - Schedule of Remaining Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Remainder of fiscal year 2024	$ 2,620
2025	2,439
2026	2,117
2027	2,149
2028	1,028
Thereafter	84
Total future minimum lease payments	10,437
Less: imputed interest	(893)
Total	$ 9,544	$ 11,497

Debt - Additional Information (

Debt - Additional Information (Details) - Line of Credit - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Nov. 29, 2022
Debt Instrument [Line Items]
Aggregate principal borrowings			$ 700,000,000
Level 2
Debt Instrument [Line Items]
Estimated fair value	$ 543,000,000	$ 484,100,000
Secured Debt | Term Loans
Debt Instrument [Line Items]
Aggregate principal borrowings			300,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate principal borrowings			$ 400,000,000

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current portion of long-term debt
Total current portion of long-term debt	$ 15,000	$ 15,000
Long-term debt
Unamortized discount and debt issuance costs	(2,798)	(3,206)
Total long-term debt, net	537,696	479,788
Line of Credit | Secured Debt | Term Loans
Current portion of long-term debt
Total current portion of long-term debt	15,000	15,000
Long-term debt
Long-term debt, gross	$ 270,000	$ 277,500
Interest rates	7.69%	7.71%
Line of Credit | Revolving Credit Facility
Long-term debt
Long-term debt, gross	$ 270,494	$ 205,494

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Liabilities
Contingent consideration	$ 7,029	$ 2,989
Interest rate swaps
Assets
Interest rate swaps	1,940	1,187
Liabilities
Interest rate swaps	1,357	5,357
Money Market Funds
Assets
Cash equivalents from money market funds	33,608	11,593
Level 1
Liabilities
Contingent consideration	0	0
Level 1 | Interest rate swaps
Assets
Interest rate swaps	0	0
Liabilities
Interest rate swaps	0	0
Level 1 | Money Market Funds
Assets
Cash equivalents from money market funds	33,608	11,593
Level 2
Liabilities
Contingent consideration	0	0
Level 2 | Interest rate swaps
Assets
Interest rate swaps	1,940	1,187
Liabilities
Interest rate swaps	1,357	5,357
Level 2 | Money Market Funds
Assets
Cash equivalents from money market funds	0	0
Level 3
Liabilities
Contingent consideration	7,029	2,989
Level 3 | Interest rate swaps
Assets
Interest rate swaps	0	0
Liabilities
Interest rate swaps	0	0
Level 3 | Money Market Funds
Assets
Cash equivalents from money market funds	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Fair Value of the Level 3 Liabilities with Significant Unobservable Inputs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Nov. 30, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in fair value of contingent consideration, net			$ 1,290	$ 0
Contingent consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration						$ 1,500
Revision of Prior Period, Error Correction, Adjustment | Contingent consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration	$ 4,000		4,000		$ 4,000
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of contingent consideration, beginning of period	9,739	$ 5,620	2,989	1,219
Acquired liabilities	0	0	2,750	4,706
Cash payments	0	0	0	0
Change in fair value of contingent consideration, net	(2,710)	0	1,290	(305)
Fair value of contingent consideration, end of period	$ 7,029	$ 5,620	$ 7,029	$ 5,620

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Schedule of Company's Outstanding Derivatives (Details) - Interest rate swaps $ in Millions	Feb. 27, 2026 USD ($)	Jun. 30, 2024 USD ($) instrument
Derivative [Line Items]
Number of Instruments | instrument		4
Current notional		$ 300
Forecast
Derivative [Line Items]
Current notional	$ 150

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Fair Value of Derivative Financial Instruments (Details) - Derivatives designated as hedging instruments: - Interest rate swaps - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Asset Derivatives	$ 1,940	$ 1,187
Liability Derivatives	$ 1,357	$ 5,357

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) (Details) - Derivatives designated as hedging instruments: - Interest rate swaps - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative	$ 1,500	$ 6,975	$ 6,379	$ 98
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income	$ 808	$ 552	$ 1,626	$ 649

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Impact Of The Companies Derivative Financial Instruments On The Consolidated Statement Of Operations And Comprehensive Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative [Line Items]
Total amounts of income and expense line items in which the effects of cash flow hedges are recorded	$ 10,143	$ 8,990	$ 20,455	$ 17,598
Derivatives designated as hedging instruments: | Interest rate swaps
Derivative [Line Items]
Amount of gain or (loss) reclassified from accumulated OCI into income	808	552	1,626	649
Derivatives designated as hedging instruments: | Cash Flow Hedging
Derivative [Line Items]
Total amounts of income and expense line items in which the effects of cash flow hedges are recorded	10,143	8,990	20,455	17,598
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swaps
Derivative [Line Items]
Amount of gain or (loss) reclassified from accumulated OCI into income	$ 808	$ 552	$ 1,626	$ 649

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash flow hedge gain (loss) to be reclassified within 12 months	$ 1,900,000
Gain (loss) on discontinuation of cash flow hedge due to forecasted transaction probable of not occurring, net	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ 7,094	$ (85)	$ (1,924)	$ 1,017
Effective tax rate	823%	(35.70%)	11.90%	52.70%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 28, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Loss Contingencies [Line Items]
Possible extension period for consummation of the Merger	6 months
Possible termination fee	$ 66,300
Litigation settlement obligation		$ 6,222		$ 6,222		$ 5,279
Insurance receivable		2,900		2,900		$ 2,900
Net legal settlement expense		$ 1,500	$ 100	$ 1,700	$ 100
First Advantage
Loss Contingencies [Line Items]
Required business days to consummate Merger after satisfaction of conditions	5 days
First Advantage | Maximum
Loss Contingencies [Line Items]
Possible termination fee	$ 100,000
First Advantage | Initial Outside Date
Loss Contingencies [Line Items]
Possible termination fee	60,000
First Advantage | Extended Outside Date
Loss Contingencies [Line Items]
Possible termination fee	90,000
Goldman Sachs & Co. LLC
Loss Contingencies [Line Items]
Merger fees	30,000
Goldman Sachs & Co. LLC | Payable Upon Completion Of Merger
Loss Contingencies [Line Items]
Merger fees	20,000
Goldman Sachs & Co. LLC | Payable At Sole Discretion Of The Company
Loss Contingencies [Line Items]
Merger fees	10,000
Citigroup Global Markets Inc
Loss Contingencies [Line Items]
Merger fees	20,000
Citigroup Global Markets Inc | Payable Upon Completion Of Merger
Loss Contingencies [Line Items]
Merger fees	5,000
Citigroup Global Markets Inc | Payable At Sole Discretion Of The Company
Loss Contingencies [Line Items]
Merger fees	10,000
Citigroup Global Markets Inc | Payable In Connection With Delivery Of The Fairness Option
Loss Contingencies [Line Items]
Merger fees	$ 5,000

Equity (Details)

Equity (Details)				3 Months Ended				6 Months Ended
	Jun. 30, 2023 USD ($) shares	Jun. 07, 2023 $ / shares shares	Jun. 05, 2023 USD ($) shares	Jun. 30, 2024 vote $ / shares shares	Mar. 31, 2024 USD ($) shares	Jun. 30, 2023 USD ($) shares	Mar. 31, 2023 USD ($) shares	Jun. 30, 2024 USD ($) vote $ / shares shares	Dec. 31, 2023 $ / shares shares	Nov. 23, 2022 USD ($)	Sep. 10, 2021 $ / shares shares
Class of Stock [Line Items]
Total shares authorized (in shares)											1,100,000,000
Common stock, shares authorized (in shares)				1,000,000,000				1,000,000,000	1,000,000,000		1,000,000,000
Common stock, par value (in USD per share) | $ / shares				$ 0.01				$ 0.01	$ 0.01		$ 0.01
Preferred stock, shares authorized (in shares)				100,000,000				100,000,000	100,000,000		100,000,000
Preferred stock, par value (in USD per share) | $ / shares				$ 0.01				$ 0.01	$ 0.01		$ 0.01
Number of votes entitled to each share of common stock | vote				1				1
Dividends declared (in USD per share) | $ / shares								$ 0
Authorized common stock repurchase amount | $										$ 100,000,000
Common stock repurchased (in shares)				0				494,157
Value of common stock repurchased inclusive of commissions and taxes | $					$ 6,832,000	$ 17,630,000	$ 7,712,000	$ 6,800,000
Common Shares/Stock Held in Treasury
Class of Stock [Line Items]
Common stock repurchased (in shares)					494,157	1,465,893	493,926
Value of common stock repurchased inclusive of commissions and taxes | $					$ 6,832,000	$ 17,630,000	$ 7,712,000
BSPI | Common Shares/Stock Held in Treasury
Class of Stock [Line Items]
Common stock repurchased (in shares)			1,000,000
Value of common stock repurchased inclusive of commissions and taxes | $			$ 11,700,000
Secondary Public Offering | Underwriters
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)	0
Proceeds from sale of stock | $	$ 0
Secondary Public Offering | Selling Stockholders
Class of Stock [Line Items]
Common stock, par value (in USD per share) | $ / shares		$ 0.01
Number of shares issued in transaction (in shares)		8,000,000
Over-Allotment Option | Selling Stockholders | Underwriters
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)	1,145,486
Period for option to purchase additional shares	30 days
Over-Allotment Option | Selling Stockholders | Underwriters | Maximum
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)	1,200,000

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 11,703	$ 9,358	$ 21,045	$ 17,401
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	369	394	728	822
Corporate technology and production systems
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	888	605	1,707	1,217
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 10,446	$ 8,359	$ 18,610	$ 15,362

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands			6 Months Ended
	Jul. 01, 2023	Aug. 04, 2021	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, nonvested award, cost not yet recognized, amount			$ 82,400
Weighted average period of recognition			2 years
Proceeds from exercise of employee stock options			$ 42,555	$ 0
Proceeds from the issuance of common stock			$ 0	611
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Post-termination exercise period		6 months
Extended post-termination exercise period		30 days
2021 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award expiration term		10 years
Issuance of stock to employees (in shares)		9,433,000
Percentage of outstanding stock maximum		5%
Share based compensation by share based award number of shares authorized for issuance (in shares)		9,433,000
Share based compensation by share based award number of shares available for issuance (in shares)			12,108,520
NQSOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense related to options			$ 16,000
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense related to restricted stock			65,700
Cash paid for tax withholding on exercise of employee stock options			$ 4,179	572
Restricted stock | 2021 Equity Plan | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period			2 years
Share based compensation by share based award vesting percentage		50%
Restricted stock | 2021 Equity Plan | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period			3 years
Share based compensation by share based award vesting percentage		25%
Restricted stock | 2021 Equity Plan | Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period		4 years
Share based compensation by share based award vesting percentage		25%
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense related to restricted stock			$ 700
Restricted stock units | 2021 Equity Plan | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period			2 years
Share based compensation by share based award vesting percentage			50%
Restricted stock units | 2021 Equity Plan | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period			3 years
Share based compensation by share based award vesting percentage			25%
Restricted stock units | 2021 Equity Plan | Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period			4 years
Share based compensation by share based award vesting percentage			25%
Restricted stock units | 2021 Equity Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period			1 year
Restricted stock units | 2021 Equity Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period			4 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash paid for tax withholding on exercise of employee stock options			$ 7,676	$ 0
Proceeds from the issuance of common stock			$ 500
Stock options | 2021 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award expiration term			10 years
Stock options | 2021 Equity Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period			1 year
Stock options | 2021 Equity Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period			4 years
Other Restricted Stock | 2021 Equity Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period		1 year
Other Restricted Stock | 2021 Equity Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period		4 years
Employee Stock | ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, maximum employee subscription rate	15%
Share-based compensation arrangement by share based payment award, offering period	6 months
Share-based compensation arrangement by share based payment award, purchase price of common stock, percent			85%

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Share-based Payment Arrangement, Option, Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
2015 Plan | SVOs
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Balance at beginning of period (in shares) | shares	5,635,742
Granted (in shares) | shares	0
Forfeited / Expired (in shares) | shares	(77,870)
Exercised (in shares) | shares	(1,600,166)
Balance at end of period (in shares) | shares	3,957,706	5,635,742
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Balance at beginning of period (in USD per share)	$ 9.60
Granted (in USD per share)	0
Forfeited / Expired (in USD per share)	9.68
Exercised (in USD per share)	9.63
Balance at end of period (in USD per share)	$ 9.59	$ 9.60
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average contractual term of options outstanding	4 years 2 months 8 days	3 years 8 months 4 days
Share-Based Compensation Arrangement By Share- Based Payment Award, Options, Additional, Disclosures, Aggregate Intrinsic Value [Abstract]
Balance at beginning of period | $	$ 24,349
Forfeited / Expired | $	458
Exercised | $	8,760
Balance at beginning of period | $	$ 20,636	$ 24,349
2015 Plan | PSOs
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Balance at beginning of period (in shares) | shares	3,036,930
Granted (in shares) | shares	0
Forfeited / Expired (in shares) | shares	0
Exercised (in shares) | shares	(1,841,326)
Balance at end of period (in shares) | shares	1,195,604	3,036,930
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Balance at beginning of period (in USD per share)	$ 10.05
Granted (in USD per share)	0
Forfeited / Expired (in USD per share)	0
Exercised (in USD per share)	10.30
Balance at end of period (in USD per share)	$ 9.68	$ 10.05
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average contractual term of options outstanding	4 years 7 months 6 days	2 years 1 month 20 days
Share-Based Compensation Arrangement By Share- Based Payment Award, Options, Additional, Disclosures, Aggregate Intrinsic Value [Abstract]
Balance at beginning of period | $	$ 11,732
Exercised | $	10,482
Balance at beginning of period | $	$ 6,118	$ 11,732
2021 Equity Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Balance at beginning of period (in shares) | shares	4,558,199
Granted (in shares) | shares	0
Forfeited / Expired (in shares) | shares	(29,310)
Exercised (in shares) | shares	0
Balance at end of period (in shares) | shares	4,528,889	4,558,199
Number of shares exercisable (in shares) | shares	1,978,435
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Balance at beginning of period (in USD per share)	$ 21.14
Granted (in USD per share)	0
Forfeited / Expired (in USD per share)	23
Exercised (in USD per share)	0
Balance at end of period (in USD per share)	21.12	$ 21.14
Weighted average exercise price of options exercisable (in USD per share)	$ 21.95
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average contractual term of options outstanding	7 years 6 months 21 days	8 years 21 days
Weighted average contractual term of options exercisable	7 years 5 months 1 day
Share-Based Compensation Arrangement By Share- Based Payment Award, Options, Additional, Disclosures, Aggregate Intrinsic Value [Abstract]
Balance at beginning of period | $	$ 904
Balance at beginning of period | $	1,606	$ 904
Aggregate intrinsic value of options exercisable | $	$ 394
Weighted Average Fair Value (per share)
Forfeited / Expired (in USD per share)	$ 10.24

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Restricted Stock Activity (Details) - 2021 Equity Plan	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance at beginning of period (in shares) | shares	3,796,203
Granted (in shares) | shares	2,092,029
Forfeited / Cancelled (in shares) | shares	(145,496)
Vested (in shares) | shares	(716,814)
Balance at end of period (in shares) | shares	5,025,922
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Balance at beginning of period (in USD per share) | $ / shares	$ 16.40
Granted (in USD per share) | $ / shares	15.90
Forfeited / Cancelled (in USD per share) | $ / shares	17.50
Vested (in USD per share) | $ / shares	10.98
Balance at end of period (in USD per share) | $ / shares	$ 16.41
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance at beginning of period (in shares) | shares	120,555
Granted (in shares) | shares	6,347
Forfeited / Cancelled (in shares) | shares	(18,994)
Vested (in shares) | shares	(5,959)
Balance at end of period (in shares) | shares	101,949
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Balance at beginning of period (in USD per share) | $ / shares	$ 15.82
Granted (in USD per share) | $ / shares	15.92
Forfeited / Cancelled (in USD per share) | $ / shares	13.34
Vested (in USD per share) | $ / shares	10.06
Balance at end of period (in USD per share) | $ / shares	$ 16.36

Net (Loss) Income Per Share - S

Net (Loss) Income Per Share - Schedule of Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net (Loss) Income attributable to stockholders	$ (6,232)	$ (7,955)	$ 323	$ 591	$ (14,187)	$ 914
Denominator:
Weighted average number of shares outstanding, basic (in shares)	92,778,209		92,723,901		91,526,151	92,800,279
Weighted average additional shares assuming conversion of potential common shares (in shares)	0		1,774,765		0	2,123,801
Weighted average common shares outstanding—diluted (in shares)	92,778,209		94,498,666		91,526,151	94,924,080
Net (loss) income per share attributable to stockholders, basic (in USD per share)	$ (0.07)		$ 0		$ (0.16)	$ 0.01
Net (loss) income per share attributable to stockholders, diluted (in USD per share)	$ (0.07)		$ 0		$ (0.16)	$ 0.01

Net (Loss) Income Per Share -_2

Net (Loss) Income Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	9,724,802	5,258,244	10,915,759	4,948,521
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	5,042,094	4,376,479	4,496,061	3,879,743
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	102,541	47,703	108,444	48,707

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 28, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
REVENUES		$ 200,528	$ 190,384	$ 386,527	$ 369,658
Accounts receivable (net of allowance for credit losses of $3,212 and $2,816 at June 30, 2024 and December 31, 2023, respectively)		172,050		172,050		$ 142,179
Interest rate swaps
Related Party Transaction [Line Items]
Current notional		300,000		300,000
Goldman Sachs & Co. LLC
Related Party Transaction [Line Items]
Merger fees	$ 30,000
Goldman Sachs
Related Party Transaction [Line Items]
REVENUES		1,000	700	2,100	1,800
Accounts receivable (net of allowance for credit losses of $3,212 and $2,816 at June 30, 2024 and December 31, 2023, respectively)		400		400		700
Goldman Sachs | J. Aron & Company LLC
Related Party Transaction [Line Items]
Accounts receivable (net of allowance for credit losses of $3,212 and $2,816 at June 30, 2024 and December 31, 2023, respectively)		100		100		100
Goldman Sachs | J. Aron & Company LLC | Interest rate swaps
Related Party Transaction [Line Items]
Current notional		75,000		75,000
Stockholders
Related Party Transaction [Line Items]
REVENUES		100	$ 100	100	$ 100
Accounts receivable (net of allowance for credit losses of $3,212 and $2,816 at June 30, 2024 and December 31, 2023, respectively)		$ 100		$ 100		$ 100

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 200,528	$ 190,384	$ 386,527	$ 369,658
Screening services
Disaggregation of Revenue [Line Items]
Total revenue	199,071	188,650	382,091	365,521
Other services
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,457	$ 1,734	$ 4,436	$ 4,137

Revenue - Schedule of Total Rev

Revenue - Schedule of Total Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 200,528	$ 190,384	$ 386,527	$ 369,658
United States
Disaggregation of Revenue [Line Items]
Total revenue	173,976	162,198	333,803	311,940
All other countries
Disaggregation of Revenue [Line Items]
Total revenue	$ 26,552	$ 28,186	$ 52,724	$ 57,718

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred commissions, amortization period	3 years
Deferred commissions, current	$ 3.4	$ 3.4
Deferred commissions, non-current	$ 2.5	$ 2.7

Subsequent Events (Detail)

Subsequent Events (Detail) - Line of Credit - USD ($) $ in Millions	Jul. 18, 2024	Aug. 08, 2024	Jun. 30, 2024
Subsequent Event [Line Items]
Line of credit outstanding			$ 555.5
Subsequent Event
Subsequent Event [Line Items]
Line of credit outstanding		$ 535.5
Revolving Credit Facility
Subsequent Event [Line Items]
Capacity remaining under line of credit			129.5
Revolving Credit Facility | Subsequent Event
Subsequent Event [Line Items]
Capacity remaining under line of credit		149.5
Repayments of debt	$ 20
Letters of Credit
Subsequent Event [Line Items]
Line of credit outstanding			$ 0.7
Letters of Credit | Subsequent Event
Subsequent Event [Line Items]
Line of credit outstanding		$ 0.7