Grid Dynamics (GDYN) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	May 02, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-38685
Entity Registrant Name	Grid Dynamics Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-0632724
Entity Address, Address Line One	5000 Executive Parkway
Entity Address, Address Line Two	Suite 520
Entity Address, City or Town	San Ramon
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94583
City Area Code	650
Local Phone Number	523-5000
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	GDYN
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		67,063,701
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001743725
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 153,308	$ 144,364
Accounts receivable, net of allowance of $360 and $315 as of March 31, 2022 and December 31, 2021, respectively	41,366	38,838
Unbilled receivables	5,341	4,475
Prepaid income taxes	783	584
Prepaid expenses and other current assets	5,771	4,503
Total current assets	206,569	192,764
Property and equipment, net	6,854	6,169
Operating lease right-of-use assets, net	5,280	0
Intangible assets, net	18,476	19,097
Deferred tax assets	2,665	2,731
Goodwill	35,958	35,958
Total assets	275,802	256,719
Current liabilities
Accounts payable	2,212	2,053
Accrued liabilities	1,019	1,150
Accrued compensation and benefits	15,946	10,562
Accrued income taxes	3,878	1,980
Operating lease liabilities, current	2,047	0
Other current liabilities	7,589	9,599
Total current liabilities	32,691	25,344
Deferred tax liabilities	4,171	4,324
Long-term debt, net	4,806	0
Operating lease liabilities, noncurrent	2,882	0
Total liabilities	44,550	29,668
Commitments and contingencies (Note 16)
Stockholders’ equity (Note 13)
Common stock, $0.0001 par value; 110,000,000 shares authorized; 67,056,826 and 66,850,941 issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	7	7
Additional paid-in capital	219,228	212,077
Retained earnings	12,426	15,093
Accumulated other comprehensive loss	(409)	(126)
Total stockholders’ equity	231,252	227,051
Total liabilities and stockholders’ equity	$ 275,802	$ 256,719

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 360	$ 315
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	110,000,000	110,000,000
Common stock, shares issued (in shares)	67,056,826	66,850,941
Common stock, shares outstanding (in shares)	67,056,826	66,850,941

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 71,410	$ 39,134
Cost of revenue	44,631	23,797
Gross profit	26,779	15,337
Operating expenses
Engineering, research, and development	3,096	1,783
Sales and marketing	4,215	3,032
General and administrative	19,265	12,300
Total operating expenses	26,576	17,115
Income/(loss) from operations	203	(1,778)
Other expenses	(700)	(1,050)
Loss before income taxes	(497)	(2,828)
Provision/(benefit) for income taxes	2,170	(766)
Net loss	(2,667)	(2,062)
Foreign currency translation adjustments, net of tax	(283)	49
Comprehensive loss	$ (2,950)	$ (2,013)
Loss per share
Basic (in dollars per share)	$ (0.04)	$ (0.04)
Diluted (in dollars per share)	$ (0.04)	$ (0.04)
Weighted average shares outstanding
Basic (in shares)	66,919	51,629
Diluted (in shares)	66,919	51,629

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income/(loss)
Beginning balance (in shares) at Dec. 31, 2020		50,879
Beginning balance at Dec. 31, 2020	$ 151,724	$ 5	$ 128,930	$ 22,793	$ (4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(2,062)			(2,062)
Stock-based compensation	5,671		5,671
Exchange of warrants into common stock (in shares)		2,221
Exchange of warrants into common stock	0
Exercise of stock options (in shares)		41
Exercise of stock options	162		162
Issuance of shares and payments of tax obligations resulted from net share settlement of vested stock awards (in shares)		1,030
Issuance of shares and payments of tax obligations resulted from net share settlement of vested stock awards	(15,297)		(15,297)
Foreign currency translation adjustments, net of tax	49				49
Ending balance (in shares) at Mar. 31, 2021		54,171
Ending balance at Mar. 31, 2021	140,247	$ 5	119,466	20,731	45
Beginning balance (in shares) at Dec. 31, 2021		66,851
Beginning balance at Dec. 31, 2021	227,051	$ 7	212,077	15,093	(126)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(2,667)			(2,667)
Stock-based compensation	8,661		8,661
Exercise of stock options (in shares)		72
Exercise of stock options	292		292
Issuance of shares and payments of tax obligations resulted from net share settlement of vested stock awards (in shares)		134
Issuance of shares and payments of tax obligations resulted from net share settlement of vested stock awards	(1,802)		(1,802)
Foreign currency translation adjustments, net of tax	(283)				(283)
Ending balance (in shares) at Mar. 31, 2022		67,057
Ending balance at Mar. 31, 2022	$ 231,252	$ 7	$ 219,228	$ 12,426	$ (409)

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss	$ (2,667)	$ (2,062)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,589	946
Operating lease right-of-use assets amortization expense	636	0
Bad debt expense	45	(107)
Deferred income taxes	(87)	(1,192)
Stock-based compensation	8,661	5,671
Change in fair value of warrants	0	859
Changes in assets and liabilities:
Accounts receivable	(2,573)	(2,951)
Unbilled receivables	(866)	(430)
Prepaid income taxes	(199)	83
Prepaid expenses and other current assets	(1,268)	(1,553)
Accounts payable	159	1,576
Accrued liabilities	(131)	268
Accrued compensation and benefits	5,384	2,021
Operating lease liabilities	(987)	0
Accrued income taxes	1,898	(70)
Other current liabilities	(77)	(15)
Net cash provided by operating activities	9,517	3,044
Cash flows from investing activities
Purchase of property and equipment	(1,653)	(851)
Net cash used in investing activities	(1,653)	(851)
Cash flows from financing activities
Proceeds from exercises of stock options, net of shares withheld for taxes	292	162
Payments of tax obligations resulted from net share settlement of vested stock awards	(1,802)	(15,297)
Payment of contingent consideration related to previously acquired business	(1,933)	0
Proceeds from debt	5,000	0
Debt issuance cost	(194)	0
Net cash provided by/(used in) financing activities	1,363	(15,135)
Effect of exchange rate changes on cash and cash equivalents	(283)	49
Net increase/(decrease) in cash and cash equivalents	8,944	(12,893)
Cash and cash equivalents, beginning of period	144,364	112,745
Cash and cash equivalents, end of period	153,308	99,852
Supplemental disclosure of cash flow information:
Cash paid for income taxes	$ 643	$ 834

Background and nature of operat

Background and nature of operations	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Background and nature of operations	Background and nature of operationsGrid Dynamics Holdings, Inc. (the “Company”) provides enterprise-level digital transformation in the areas of search, analytics, and release automation to Fortune 1000 companies. The Company’s headquarters and principal place of business is in San Ramon, California.The Company was originally incorporated in Delaware on May 21, 2018 as a special purpose acquisition company under the name ChaSerg Technology Acquisition Corp. (“ChaSerg”) for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving ChaSerg and one or more businesses. On March 5, 2020 (the “Closing”), the Company consummated its business combination with Grid Dynamics International, Inc. (“GDI”) pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated November 13, 2019 (the “Business Combination”). In connection with the Closing, the Company changed its name from ChaSerg Technology Acquisition Corp. to Grid Dynamics Holdings, Inc. The Company’s common stock is now listed on the NASDAQ under the symbol “GDYN”

Basis of presentation and summa

Basis of presentation and summary of significant accounting policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of presentation and summary of significant accounting policies	Basis of presentation and summary of significant accounting policies The following is a summary of critical accounting policies consistently applied in the preparation of the accompanying unaudited condensed consolidated financial statements. Full description of significant accounting policies is provided in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the SEC on March 3, 2022. Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of the Company’s management, necessary for the fair presentation of the results of operations for the interim periods. Operating results for the three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. These interim financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2021 included in the Company’s annual report on Form 10-K that the Company filed with the SEC on March 3, 2022. Principles of consolidation The accompanying condensed financial statements include the accounts of the Company and all of its subsidiaries that are directly or indirectly owned or controlled. Intercompany transactions and balances have been eliminated upon consolidation. The Company provides services to its customers utilizing its own personnel as well as personnel from subcontractors. The most significant subcontractor is GD Ukraine, LLC (“Affiliate”), a third-party contractor in Ukraine. The affiliate performs services and support exclusively on behalf of the Company and its customers. The Company has no ownership in the Affiliate. The Company is required to apply accounting standards which address how a business enterprise should evaluate whether it has a controlling financial interest in a variable interest entity (“VIE”) through means other than voting rights and accordingly should determine whether or not to consolidate the entity. The Company has determined that it is required to consolidate the Affiliate because the Company has the power to direct the VIE’s most significant activities and is the primary beneficiary of the Affiliate. The assets and liabilities of the Affiliate primarily consist of inter-company balances and transactions all of which have been eliminated in consolidation. Use of estimates The preparation of the unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates and such differences could be material. Significant estimates include allowances for receivables, calculation of accrued liabilities, capitalization of internally developed software, stock-based compensation, contingent consideration payable, determination of fair value, useful lives and recoverability of intangible assets and goodwill, determination of provision for income taxes and uncertain tax positions. Recently adopted accounting pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (the “FASB”), in the form of Accounting Standards Updates (“ASUs”), to the FASB’s ASC. The Company has elected not to opt out of the extended transition period and thus when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. Leases — In February 2016, the FASB issued ASU 2016-02, Leases (“Topic 842”). The standard supersedes previously existing lease guidance (“Topic 840”) and requires entities to recognize all leases, with the exception of leases with a term of twelve months or less, on the balance sheet as right-of-use assets (“RoU Assets”) and lease liabilities. Disclosures should provide the information in the financial statements summarizing the amount, timing and cash flows arising from leasing. The Company adopted Topic 842, effective January 1, 2022 using current period adjustment method. Prior period amounts were not adjusted. The Company determines if an arrangement is a lease or contains a lease at lease inception. Assessment and classification of lease as either an operating or a financing is performed at the lease commencement date. Operating lease liabilities and their corresponding RoU Assets are initially measured based on the present value of future lease payments over the expected remaining lease term. RoU Asset value is additionally adjusted by initial direct costs and incentives received. Present value is calculated based in either interest rate implicit in lease agreement or, if not available, based on incremental borrowing rate. Incremental borrowing rate reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. The Company typically only includes an initial lease term in its assessment of a lease arrangement. Options to renew or terminate a lease are not included in the Company’s assessment unless there is reasonable certainty that the Company will exercise the renewal option. RoU Assets are subject to periodic impairment tests. Lease expense for operating leases is recognized on a straight-line basis over the lease term. In accordance with Topic 842, components of a lease should be split into three categories: lease components, non-lease components, and non-components. The fixed and in-substance fixed contract consideration (including any consideration related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. The Company elected a practical expedient to account for lease and non-lease components together as a single lease component. The Company also elected the short-term lease recognition exemption for all classes of lease assets with an original term of twelve months or less. For transition, practical expedients were accepted to carry forward historical accounting for any expired or existing contracts that are or contain lease contracts and not to re-assess initial direct costs for any expired or existing leases. The adoption of Topic 842 on January 1, 2022 resulted in the recognition of RoU Assets for operating leases of $5.9 million and operating lease liabilities of $5.7 million. The adoption of Topic 842 did not have an impact on the unaudited condensed consolidated statement of loss and comprehensive loss, condensed consolidated statement of changes in stockholders’ equity or the condensed consolidated statement of cash flows. See Note 11 “Leases” in the unaudited condensed consolidated financial statements for additional information regarding leases. Recently issued accounting pronouncements The Company considered the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) — Measurement of Credit Losses on Financial Instruments . Topic 326 was subsequently amended by ASU 2019-4, Codification Improvements to Topic 326, Financial Instruments — Credit Losses, ASU 2019-5, Financial Instruments — Credit Losses (Topic 326): Targeted Transition Relief, and clarified the guidance with the release of ASU 2020-2 Financial Instruments—Credit Losses (Topic 326) and Leases (Topic 842). These ASUs replace the current incurred loss impairment methodology with a methodology that reflects expected credit losses measured at amortized cost and certain other instruments, including loans, held-to-maturity debt securities, net investments in leases, and off-balance sheet credit exposures. The update is effective for fiscal years beginning after December 15, 2022, and interim periods with fiscal years after December 15, 2022. The Company has not yet determined the impact that the adoption of this guidance will have on the consolidated financial statements. In March 2020, FASB issued ASU No. 2020-3, Codification to Financial Instruments. This ASU improves and clarifies various financial instruments topics, including the current expected credit losses standard issued in 2016. The ASU includes seven different issues that describe the areas of improvement and the related amendments to U.S. GAAP, intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments related to Issue 1, Issue 2, Issue 3, Issue 4, and Issue 5 were effective upon issuance of this update. The new guidance did not have a material impact on the consolidated financial statements. The amendments related to Issue 6 and Issue 7 are effective for the Company the earlier of January 1, 2023 or when the Company adopts ASU 2016-13, if early adopted. The Company is currently evaluating the impact these topics will have on the consolidated financial statements.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Tacit — On May 29, 2021, the Company acquired 100% of the equity interest of the global consultancy company Tacit Knowledge Inc. (“Tacit”). Founded in 2002, Tacit is a global provider of digital commerce solutions, serving customers across the UK, North America, Continental Europe, and Asia. The acquisition of Tacit added approximately 180 employees to the Company's headcount. The acquisition will augment the Company's service offerings and will strengthen its competitive position within the market. Additionally, the acquisition also enabled the Company to leverage near-shore capabilities with Tacit's presence in Mexico. The total purchase consideration is $37.6 million and consists of cash consideration of $33.6 million paid at closing, and fair value of the contingent consideration at the date of the acquisition of $4.0 million. The maximum amount of potential contingent cash consideration is $5.0 million. During the fourth quarter of 2021 the Company adjusted fair value of contingent consideration as of December 31, 2021 to its maximum amount and reflected the expense in its consolidated statement of loss. The contingent consideration is payable based on revenue and EBITDA metrics to be achieved by Tacit within 12 months. The Company recorded a liability for the contingent consideration amount based on the Company’s best estimate of the fair value of the expected payout. See Note 4 for further details on contingent consideration. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed. There were no measurement period adjustments for the quarter ended March 31, 2022 for Tacit: Tacit Current assets $ 9,145 Property, plant and equipment 466 Intangible assets 12,913 Goodwill 21,268 Total assets acquired $ 43,792 Accounts payable and accrued expenses (3,675) Deferred taxes (2,500) Total liabilities assumed $ (6,175) Purchase price allocation $ 37,617 Current assets acquired include cash and cash equivalents in the amount of $3.0 million. The purchase price was assigned to assets acquired and liabilities assumed based on their estimated fair values as of the date of acquisition, and any excess was allocated to goodwill, as shown in the table above. Goodwill represents the value the Company expects to achieve through the implementation of operational synergies and growth opportunities as the Company expands its global reach. The goodwill for Tacit is not deductible for income tax purposes. During the second half of 2021 the Company updated fair value of contingent consideration for Tacit at acquisition date that resulted in the increase of goodwill for $0.7 million. During the fourth quarter of 2021, the Company finalized the fair value of the assets acquired and liabilities assumed in the acquisition of Tacit. The estimated fair value, useful lives and amortization methods of identifiable intangible assets as of the date of acquisition updated for any changes during March 31, 2022 are as follows: Tacit Fair Value Useful Life Amortization Customer relationships $ 11,737 12 years Straight-line Trade name 1,176 4 years Declining balance Total Tacit identified intangible assets $ 12,913 The acquisition of Tacit was accounted for using the acquisition method of accounting, and consequently, the results of operations for Tacit are reported in the consolidated financial statements from the date of acquisition. Tacit revenue was approximately $7.1 million during three months ended March 31, 2022. The following unaudited pro forma information presents the combined results of operations as if the acquisition of Tacit had occurred at the beginning of 2021. Tacit pre-acquisition results have been added to the Company’s historical results. The pro forma results contained in the table below include adjustment for amortization of acquired intangibles. Any potential cost savings or other operational efficiencies that could result from the acquisition are not included in these pro forma results. These pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations as they would have been had the acquisitions occurred on the assumed dates, nor are they necessarily an indication of future operating results. Three Months Ended (Unaudited) 2022 2021 Revenue $ 71,410 $ 43,415 Net loss $ (2,667) $ (1,721) Diluted loss per share $ (0.04) $ (0.03)

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value	Fair value The Company’s financial assets and liabilities, with the exceptions of contingent consideration payable described further herein, are all short term in nature; therefore, the carrying value of these items approximates their fair value. The Company measures contingent consideration payable at fair value on a recurring basis using significant inputs that are not observable in the market. Fair value of the contingent consideration liability is based on the Monte-Carlo model which is primarily based on budgets and discounted cash flow analysis. The Company believes its estimates and assumptions are reasonable, however, there is significant judgment involved. Changes in the fair value of contingent consideration payable primarily result from changes in the timing and amount of specific milestone estimates and changes in probability assumptions with respect to the likelihood of achieving the various earnout criteria. These changes could cause a material impact to, and volatility in the Company’s operating results. During the years ended December 31, 2021 and 2020 the Company completed two acquisitions under which the Company committed to make a cash earnout payment subject to attainment of specific performance targets. The weighted average discount rates used to determine the final fair value of Daxx Web Industries B.V. (“Daxx”) and Tacit contingent considerations was 4.8% and 13.5%, respectively. The Company records contingent consideration payable in Other current liabilities in its consolidated balance sheet. A reconciliation of the beginning and ending balances of Level 3 acquisition-related contingent consideration payable using significant unobservable inputs for the three months ended March 31, 2022 are as follows (in thousands): Amount Contingent consideration payable as of December 31, 2021 $ 6,933 Payment of contingent consideration - Daxx (1,933) Contingent consideration payable as of March 31, 2022 $ 5,000

Prepaid expenses

Prepaid expenses	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	Prepaid expenses The prepaid expenses were as follows (in thousands): As of March 31, December 31, Prepaid expenses $ 3,431 $ 2,188 Value added tax receivable 585 931 Prepaid insurance 371 921 Other assets 1,384 463 Total prepaid expenses and other current assets 5,771 4,503

Property and equipment, net

Property and equipment, net	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net Property and equipment consist of the following (in thousands): Estimated As of March 31, December 31, Computers and equipment 2-5 $ 11,950 $ 10,784 Machinery and automobiles 5 285 246 Furniture and fixtures 3-7 1,190 1,174 Software 5 513 513 Leasehold improvements 7-12 479 486 14,417 13,203 Less: Accumulated depreciation and amortization (8,737) (8,240) 5,680 4,963 Capitalized software development costs 2-3 4,974 4,656 Less: Accumulated amortization (3,800) (3,450) 1,174 1,206 Property and equipment, net $ 6,854 $ 6,169

Intangible assets, net

Intangible assets, net	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, net	ntangible assets, net Intangible assets consist of the following (in thousands): Estimated As of March 31, December 31, Customer relationships 8-12 $ 15,971 $ 15,971 Tradename 4-10 4,676 4,676 Non-compete agreements 2 440 440 21,087 21,087 Less: Accumulated amortization (2,611) (1,990) Intangible assets, net $ 18,476 $ 19,097

Other current liabilities

Other current liabilities	3 Months Ended
	Mar. 31, 2022
Other Liabilities, Current [Abstract]
Other current liabilities	Other current liabilities The components of other current liabilities were as follows (in thousands): As of March 31, 2022 December 31, 2021 Contingent consideration payable $ 5,000 $ 6,933 Value added tax payable 1,168 1,274 Customer deposits 783 798 Other liabilities 638 594 Total other current liabilities $ 7,589 $ 9,599

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt Revolving Credit Facility — On March 15, 2022, the Company entered into a Credit Agreement (the “2022 Credit Agreement”) by and among the Company, as borrower, the guarantors party thereto from time to time, the lenders party thereto from time to time, and JPMorgan Chase Bank, N.A., as administrative agent for the lenders (the “Agent”). The 2022 Credit Agreement provides for a secured multicurrency revolving loan facility with an initial aggregate principal amount of up to $30.0 million, with a $10.0 million letter of credit sublimit. The Company may increase the size of the revolving loan facility up to $50.0 million, subject to certain conditions and additional commitments from existing and/or new lenders. The 2022 Credit Agreement matures on March 15, 2025. At the Company’s option, borrowings under the 2022 Credit Agreement accrue interest at a per annum rate based on either (i) the base rate plus a margin ranging from 1.0% to 1.5%, (ii) an adjusted term Secured Overnight Financing Rate ("SOFR") or adjusted the Euro Interbank Offer Rate ("EURIBOR") (based on one, three or six-month interest periods) plus a margin ranging from 2.0% to 2.5%, or (iii) an adjusted daily simple SOFR rate (or SONIA rate in the case of loans denominated in pounds sterling, or SARON rate in the case of loans denominated in Swiss francs), plus a margin ranging from 2.0% to 2.5%, in each case, with the applicable margin determined based on the Company’s consolidated total leverage ratio. The Company is also obligated to pay other closing fees, administration fees, commitment fees and letter of credit fees customary for a credit facility of this size and type. The Company’s obligations under the 2022 Credit Agreement are required to be guaranteed by certain of its domestic subsidiaries meeting materiality thresholds set forth in the 2022 Credit Agreement. Such obligations, including the guaranties, are secured by substantially all of the personal property of the Company and the Company’s subsidiary guarantors. The 2022 Credit Agreement contains customary affirmative and negative covenants, including covenants limiting the ability of the Company and its subsidiaries to, among other things, incur debt, grant liens, undergo certain fundamental changes, make investments and acquisitions, make certain restricted payments, dispose of assets, enter into certain transactions with affiliates, and enter into burdensome agreements, in each case, subject to limitations and exceptions set forth in the 2022 Credit Agreement. The Company is also required to maintain compliance with a consolidated total leverage ratio, determined in accordance with the terms of the 2022 Credit Agreement. As of March 31, 2022, the Company was in compliance with all covenants contained in the 2022 Credit Agreement. In October, 2017, the Company entered into a loan agreement for a revolving line of credit facility (the “Line of Credit”) with a borrowing capacity of $0.5 million. The Line of Credit is secured by substantially all of the Company’s assets and was secured in order to provide credit support for a letter of credit facility and balances under the Company’s credit cards. Borrowings under the Line of Credit are subject to a variable interest rate, based on changes in the Prime Rate, as calculated published by the Wall Street Journal. The Company closed the Line of Credit in March of 2022. The following table presents the outstanding debt and borrowing capacity of the Company under the 2022 Revolving Facility as of March 31, 2022 and and Line of Credit as of December 31, 2021 (in thousands): As of March 31, 2022 December 31, 2021 Outstanding debt $ 5,000 $ — Interest rate 2.2 % — % Available borrowing capacity $ 25,000 $ 500 Current maximum borrowing capacity $ 30,000 $ 500

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of revenues The tables below present disaggregated revenues from contracts with customer by customer location, industries and contract-types. The Company believes this disaggregation best depicts how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by industry, market and other economic factors. The Company has a single reportable segment during for the three months ended March 31, 2022 and 2021. The following table shows the disaggregation of the Company’s revenues by major customer location. Revenues are attributed to geographic regions based upon billed client location. Substantially all of the revenue in our North America region relates to operations in the United States. Three months ended 2022 2021 Customer Location (in thousands) North America $ 57,609 $ 32,606 Europe 13,735 6,528 Other 66 — Total Revenues $ 71,410 $ 39,134 The following table shows the disaggregation of the Company’s revenues by main vertical markets: Three months ended 2022 2021 Vertical (in thousands) Retail $ 23,307 $ 8,850 Technology, Media and Telecom 21,444 14,411 CPG/Manufacturing 14,979 8,725 Finance 4,527 3,438 Other 7,153 3,710 Total Revenues $ 71,410 $ 39,134 The following table shows the disaggregation of the Company’s revenues by contract types: Three months ended 2022 2021 Contract Type (in thousands) Time-and-material $ 65,206 $ 36,240 Fixed-fee 6,204 2,894 Total Revenues $ 71,410 $ 39,134 Contract balances A contract asset is a right to consideration that is conditional upon factors other than the passage of time. A contract liability, or deferred revenue, consist of advance payments and billings in excess of revenues recognized. As of March 31, 2022 and December 31, 2021 the Company did not have material contract assets or liabilities recognized in condensed consolidated financial statements. Remaining performance obligation ASC 606 “Revenue from Contracts with Customers” requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of March 31, 2022. This disclosure is not required for: 1) contracts with an original duration of one year or less, including contracts that can be terminated for convenience without a substantive penalty, 2) contracts for which the Company recognizes revenues based on the right to invoice for services performed, 3) variable consideration allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with ASC 606-10-25-14(b), for which the criteria in ASC 606-10-32-40 have been met, or 4) variable consideration in the form of a sales-based or usage-based royalty promised in exchange for a license of intellectual property. All of the Company’s contracts met one or more of these exemptions as of March 31, 2022 . Customers concentration The following table shows the amount of revenue derived from each customer exceeding 10% of the Company’s revenue: Three months ended 2022 2021 Customer 1 11.2 % 14.3 % Customer 2 10.3 % 13.0 % The following table shows number of customers exceeding 10% of the Company’s billed and unbilled receivable balances: As of March 31, December 31, Accounts receivable 2 1 Unbilled receivable 3 1

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Leases A major part of the Company's lease obligations is for office real estate. The Company may also lease corporate flats, cars and office equipment. Payments on some of our leases may depend on index or rate, including Consumer Price Index (CPI). Such payments are included in the calculation of lease liability and assets at the commencement dates, all future changes are accounted as variable payments similar to other variable payments, such as common area maintenance, property and other taxes, utilities and insurance that are based on the lessor’s cost. The Company’s leases have remaining lease terms ranging from 1 month to 3.8 years. Certain lease agreements may include the option to extend or terminate before the end of the contractual term and are often non-cancelable or cancellable only by the payment of penalties. The Company includes these options in the lease term when it is reasonably certain that they will be exercised. As of March 31, 2022, the Company had no finance leases. Operating lease expense is recorded on a straight-line basis over the lease term. During three months ended March 31, 2022 lease costs were as follows (in thousands): Three Months Ended Operating lease cost $ 694 Variable lease cost 24 Short-term lease cost 239 Total lease cost $ 957 Supplemental information related to operating lease transactions is as follows (in thousands): Three Months Ended Lease liability payments $ 866 Non-cash net decrease in lease assets due to lease modifications (28) Non-cash net decrease in lease liability due to lease modifications 28 Weighted average remaining lease term and discount rate as of March 31, 2022 is as follows: As of Weighted average remaining lease term, in years 3.46 Weighted average discount rate 3.4 % As of March 31, 2022, operating lease liabilities will mature as follows: Years ending December 31, (in thousands) Lease Payments 2022 (excluding three months ended March 31, 2022) $ 1,730 2023 1,346 2024 1,331 2025 734 2026 70 Total lease payments 5,211 Less: imputed interest (282) Total $ 4,929

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income taxes	Income taxesThe Company recorded income tax expense of $2.2 million and income tax benefit of $(0.8) million for the three months ended March 31, 2022 and 2021, respectively. The Company’s effective tax rate was (436.6)% and 27.1% for the first quarter of 2022 and 2021, respectively. The increase in the effective tax rate for the three months ended March 31, 2022, as compared to the same periods in 2021 was attributable mainly to Section 162(m) compensation deduction limitations and foreign income inclusions. For the three months ended March 31, 2022, the Company used a discrete effective tax rate method to calculate income taxes due to sensitivity of the forecast. Through March 31, 2022, the Company determined that small changes in estimated "ordinary" income would result in significant changes in the estimated annual effective tax rate causing material distortion in the year-to-date tax provision. As of March 31, 2022, the Company is unable to produce a reliable estimate of ordinary income for the quarter and year ending 2022 due to the inability to reliably or accurately forecast 2022 operating expenses. Similarly, for the three months ended March 31, 2022, due to uncertainties created by geopolitical risks, the Company’s estimated annual effective tax rate method would not provide a reliable estimate and therefore was not used.

Stockholders' equity

Stockholders' equity	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Stockholders’ equity	Stockholders’ equity The following description summarizes the material terms and provisions of the securities that the Company has authorized. Common stock The Company is authorized to issue 110.0 million shares of common stock. As of March 31, 2022 and December 31, 2021 the Company had 67.1 million and 66.9 million shares of common stock that were outstanding, respectively. Warrants On April 12, 2021, the Staff of the SEC issued the “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)” (the “Staff Statement”). The Staff Statement provided new guidance for all SPAC-related companies regarding the accounting and reporting for their warrants that could result in the warrants issued by SPACs being classified as a liability measured at fair value, with non-cash fair value adjustments reported in earnings at each reporting period. The Company reviewed the accounting for both its public warrants and private warrants following the Staff Statement. The Company determined that the accounting for its public warrants as equity was consistent with the Staff Statement. The Company determined that its private warrants should be accounted for as liabilities but that the related accounting errors during the year ended December 31, 2020 were not material to the required financial statements and disclosures included in its annual report on Form 10-K filed on March 5, 2021. In the three months ended March 31, 2021, the Company began accounting for the private warrants correctly, as disclosed in its quarterly report on Form 10-Q filed on May 6, 2021. As of March 31, 2021, there were a total of 4,963,231 warrants outstanding, of which 346,500 were private and 4,616,731 were publicly traded. As part of its initial public offering (“IPO”), ChaSerg issued 22,000,000 units including one share of common stock and one-half of one redeemable warrant. Simultaneously with its IPO, ChaSerg issued 640,000 private placement units to its sponsor underwriter, each consisting of one common share and one-half of one redeemable warrant. ChaSerg issued 53,000 units as a result of the conversion of a working capital sponsor loan consisting of one common share and one-half of one redeemable warrant. The change in fair value of the 346,500 outstanding private warrants in the amount of $0.9 million was recorded in other expenses in the condensed consolidated financial statements in the three months ended March 31, 2021. On February 17, 2021, the Company and Riverview Group LLC, an affiliate of Millennium Management LLC, a holder of 6,383,269 the outstanding publicly traded warrants (the “Public Warrants”) entered into a Warrant Exchange Agreement (the “Exchange Agreement”). Pursuant to the Exchange Agreement, the holder exchanged each of its public warrants for 0.3480 shares of the Company’s common stock, i.e., 2,221,378 shares.

Stock-based compensation

Stock-based compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-based compensation	Stock-based compensation Employee stock-based compensation cost recognized in the consolidated statements of income/(loss) and comprehensive income/(loss) was as follows: Three months ended 2022 2021 (in thousands) Cost of revenue $ 249 $ 111 Engineering, research, and development 864 554 Sales and marketing 671 791 General and administrative 6,877 4,215 Total stock-based compensation $ 8,661 $ 5,671 Stock Options 2018 Plan Stock option activity under the Company’s 2018 Plan is set forth below: Number of Options Weighted Average Exercise Price Aggregate Intrinsic Value Weighted Average Contractual Term Options outstanding as of December 31, 2021 1,916,101 $ 3.54 $ 65,971 6.97 Options exercised (62,396) $ 3.54 Options forfeited (12,398) $ 3.54 Options outstanding as of March 31, 2022 1,841,307 $ 3.54 $ 19,407 6.82 Options vested and exercisable as of March 31, 2022 1,729,216 $ 3.54 $ 18,226 6.78 The total unrecognized compensation expenses related to 2018 Plan options as of March 31, 2022 was $0.1 million to be expensed on a straight-line basis over 1.44 years. 2020 Plan As of March 31, 2022, 9.6 million shares were available for grant under 2020 Incentive Stock Plan ("2020 Plan"). Stock option activity under the Company’s 2020 Plan is set forth below: Number of Options Weighted Average Exercise Price Aggregate Intrinsic Value, in thousands Weighted Average Contractual Term Options outstanding as of December 31, 2021 2,224,687 $ 12.86 $ 55,856 8.53 Options granted 358,800 $ 12.15 Options exercised (9,308) $ 7.70 Options forfeited (83,345) $ 17.00 Options outstanding as of March 31, 2022 2,490,834 $ 12.64 $ 8,888 8.56 Options vested and exercisable as of March 31, 2022 705,387 $ 8.61 $ 3,895 7.93 The Company elected the policy to account for forfeitures as these occur. The total unrecognized compensation expenses related to 2020 Stock Plan options as of March 31, 2022 was $9.4 million to be expensed on a straight-line basis over the remaining 2.90 years. Restricted Stock Units RSUs granted do not participate in earnings, dividends, and do not have voting rights until vested. The following table summarizes activity of the Company’s RSUs for the three months ended March 31, 2022: Number of Shares Weighted Average Grant Date Fair Value Unvested awards as of December 31, 2021 1,493,915 $ 8.82 Awards granted 13,290 $ 13.87 Awards vested and released (156,525) $ 8.19 Unvested awards as of March 31, 2022 1,350,680 $ 8.94 During the three months ended March 31, 2022 the Company net withheld and returned to the 2020 Plan pool 0.1 million shares to cover $1.0 million tax obligations for RSU releases during first quarter of 2022. The total unrecognized compensation expenses related to 2020 Stock Plan RSUs as of March 31, 2022 was $11.3 million to be expensed on a straight-line basis over 1.97 years. Performance Stock Units The following table summarizes activity of the Company's PSUs for the three months ended March 31, 2022: Number of Shares Weighted Average Grant Date Fair Value Unvested awards as of December 31, 2021 112,085 $ 15.69 Awards granted 518,938 $ 39.41 Awards vested and released (112,085) $ 15.69 Unvested awards as of March 31, 2022 518,938 $ 39.41 During the three months ended March 31, 2022 the Company net withheld 0.1 million shares to cover the $0.8 million tax obligations related to the release of remaining 2021 PSU on February 25, 2022. The total estimated unrecognized compensation expenses related to 2020 Stock Plan PSUs as of March 31, 2022 was $24.0 million to be expensed on over 0.92 years based on projected 148% performance goal achievement.

Earnings per share

Earnings per share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings per share	Earnings per share The Company computed earnings per share (“EPS”) in conformity with the two-class method required for participating securities. Undistributed earnings allocated to participating securities are subtracted from net income in determining net income attributable to common stockholders. All participating securities are excluded from basic weighted-average number of common shares outstanding. Diluted EPS is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, restricted stock units, performance stock units, warrants, and convertible preferred securities. The dilutive effect of potentially dilutive securities is reflected in diluted EPS in order of dilution and by application of the treasury stock method and the if-converted method for stock-based compensation and convertible preferred securities, respectively. The following table sets forth the computation of basic and diluted EPS of common stock as follows (in thousands except per share data): Three months ended 2022 2021 Numerator for basic and diluted loss per share Net loss $ (2,667) $ (2,062) Denominator for basic and diluted loss per share Weighted-average shares outstanding – basic and diluted 66,919 51,629 Net loss per share Basic $ (0.04) $ (0.04) Diluted $ (0.04) $ (0.04) The following table represents the number of share equivalents (in thousands) outstanding during the period that were excluded from the calculation of diluted net loss per share attributable to common stockholders because including them would have had an anti-dilutive effect. Three months ended 2022 2021 Stock options to purchase common stock 4,178 6,555 Restricted stock units 1,453 2,862 Performance stock units 576 994 Warrants to purchase common stock — 8,478 Total 6,207 18,889

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Legal Matters The Company is subject to legal proceedings and claims that arise in the ordinary course of its business. Management evaluates each claim and provides for potential loss when the claim is probable to be paid and reasonably estimable. While adverse decisions in certain of these litigation matters, claims and administrative proceedings could have a material effect on a particular period’s results of operations, subject to the uncertainties inherent in estimating future costs for contingent liabilities, management believes that any future accruals with respect to these currently known contingencies would not have a material effect on the financial condition, liquidity or cash flows of the Company. There were no amounts required to be reflected in these consolidated financial statements related to contingencies.

Subsequent events

Subsequent events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent events	Subsequent eventsIn April 2022, Grid Dynamics announced it would cease remaining operations in the Russian Federation. We have worked towards the safe and expedient relocation of willing employees and ongoing management of projects to eliminate delivery impact to clients. In addition we announced our expansion to a new European hub with an office in Zug, Switzerland, a new engineering office in Yerevan, Armenia and workforce expansion in India.

Basis of presentation and sum_2

Basis of presentation and summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of the Company’s management, necessary for the fair presentation of the results of operations for the interim periods. Operating results for the three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. These interim financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2021 included in the Company’s annual report on Form 10-K that the Company filed with the SEC on March 3, 2022.
Principles of consolidation	Principles of consolidation The accompanying condensed financial statements include the accounts of the Company and all of its subsidiaries that are directly or indirectly owned or controlled. Intercompany transactions and balances have been eliminated upon consolidation. The Company provides services to its customers utilizing its own personnel as well as personnel from subcontractors. The most significant subcontractor is GD Ukraine, LLC (“Affiliate”), a third-party contractor in Ukraine. The affiliate performs services and support exclusively on behalf of the Company and its customers. The Company has no ownership in the Affiliate. The Company is required to apply accounting standards which address how a business enterprise should evaluate whether it has a controlling financial interest in a variable interest entity (“VIE”) through means other than voting rights and accordingly should determine whether or not to consolidate the entity. The Company has determined that it is required to consolidate the Affiliate because the Company has the power to direct the VIE’s most significant activities and is the primary beneficiary of the Affiliate. The assets and liabilities of the Affiliate primarily consist of inter-company balances and transactions all of which have been eliminated in consolidation.
Use of estimates	Use of estimates The preparation of the unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates and such differences could be material. Significant estimates include allowances for receivables, calculation of accrued liabilities, capitalization of internally developed software, stock-based compensation, contingent consideration payable, determination of fair value, useful lives and recoverability of intangible assets and goodwill, determination of provision for income taxes and uncertain tax positions.
Recently adopted accounting pronouncements and recently issued accounting pronouncements	Recently adopted accounting pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (the “FASB”), in the form of Accounting Standards Updates (“ASUs”), to the FASB’s ASC. The Company has elected not to opt out of the extended transition period and thus when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. Leases — In February 2016, the FASB issued ASU 2016-02, Leases (“Topic 842”). The standard supersedes previously existing lease guidance (“Topic 840”) and requires entities to recognize all leases, with the exception of leases with a term of twelve months or less, on the balance sheet as right-of-use assets (“RoU Assets”) and lease liabilities. Disclosures should provide the information in the financial statements summarizing the amount, timing and cash flows arising from leasing. The Company adopted Topic 842, effective January 1, 2022 using current period adjustment method. Prior period amounts were not adjusted. The Company determines if an arrangement is a lease or contains a lease at lease inception. Assessment and classification of lease as either an operating or a financing is performed at the lease commencement date. Operating lease liabilities and their corresponding RoU Assets are initially measured based on the present value of future lease payments over the expected remaining lease term. RoU Asset value is additionally adjusted by initial direct costs and incentives received. Present value is calculated based in either interest rate implicit in lease agreement or, if not available, based on incremental borrowing rate. Incremental borrowing rate reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. The Company typically only includes an initial lease term in its assessment of a lease arrangement. Options to renew or terminate a lease are not included in the Company’s assessment unless there is reasonable certainty that the Company will exercise the renewal option. RoU Assets are subject to periodic impairment tests. Lease expense for operating leases is recognized on a straight-line basis over the lease term. In accordance with Topic 842, components of a lease should be split into three categories: lease components, non-lease components, and non-components. The fixed and in-substance fixed contract consideration (including any consideration related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. The Company elected a practical expedient to account for lease and non-lease components together as a single lease component. The Company also elected the short-term lease recognition exemption for all classes of lease assets with an original term of twelve months or less. For transition, practical expedients were accepted to carry forward historical accounting for any expired or existing contracts that are or contain lease contracts and not to re-assess initial direct costs for any expired or existing leases. The adoption of Topic 842 on January 1, 2022 resulted in the recognition of RoU Assets for operating leases of $5.9 million and operating lease liabilities of $5.7 million. The adoption of Topic 842 did not have an impact on the unaudited condensed consolidated statement of loss and comprehensive loss, condensed consolidated statement of changes in stockholders’ equity or the condensed consolidated statement of cash flows. See Note 11 “Leases” in the unaudited condensed consolidated financial statements for additional information regarding leases. Recently issued accounting pronouncements The Company considered the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) — Measurement of Credit Losses on Financial Instruments . Topic 326 was subsequently amended by ASU 2019-4, Codification Improvements to Topic 326, Financial Instruments — Credit Losses, ASU 2019-5, Financial Instruments — Credit Losses (Topic 326): Targeted Transition Relief, and clarified the guidance with the release of ASU 2020-2 Financial Instruments—Credit Losses (Topic 326) and Leases (Topic 842). These ASUs replace the current incurred loss impairment methodology with a methodology that reflects expected credit losses measured at amortized cost and certain other instruments, including loans, held-to-maturity debt securities, net investments in leases, and off-balance sheet credit exposures. The update is effective for fiscal years beginning after December 15, 2022, and interim periods with fiscal years after December 15, 2022. The Company has not yet determined the impact that the adoption of this guidance will have on the consolidated financial statements. In March 2020, FASB issued ASU No. 2020-3, Codification to Financial Instruments. This ASU improves and clarifies various financial instruments topics, including the current expected credit losses standard issued in 2016. The ASU includes seven different issues that describe the areas of improvement and the related amendments to U.S. GAAP, intended to make the standards easier to understand and apply by eliminating inconsistencies and providing clarifications. The amendments related to Issue 1, Issue 2, Issue 3, Issue 4, and Issue 5 were effective upon issuance of this update. The new guidance did not have a material impact on the consolidated financial statements. The amendments related to Issue 6 and Issue 7 are effective for the Company the earlier of January 1, 2023 or when the Company adopts ASU 2016-13, if early adopted. The Company is currently evaluating the impact these topics will have on the consolidated financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of business acquisition, assets acquired and liabilities assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed. There were no measurement period adjustments for the quarter ended March 31, 2022 for Tacit: Tacit Current assets $ 9,145 Property, plant and equipment 466 Intangible assets 12,913 Goodwill 21,268 Total assets acquired $ 43,792 Accounts payable and accrued expenses (3,675) Deferred taxes (2,500) Total liabilities assumed $ (6,175) Purchase price allocation $ 37,617
Schedule of business acquisition, finite-lived intangibles	The estimated fair value, useful lives and amortization methods of identifiable intangible assets as of the date of acquisition updated for any changes during March 31, 2022 are as follows: Tacit Fair Value Useful Life Amortization Customer relationships $ 11,737 12 years Straight-line Trade name 1,176 4 years Declining balance Total Tacit identified intangible assets $ 12,913
Schedule of business acquisition, pro forma information	These pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations as they would have been had the acquisitions occurred on the assumed dates, nor are they necessarily an indication of future operating results. Three Months Ended (Unaudited) 2022 2021 Revenue $ 71,410 $ 43,415 Net loss $ (2,667) $ (1,721) Diluted loss per share $ (0.04) $ (0.03)

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	A reconciliation of the beginning and ending balances of Level 3 acquisition-related contingent consideration payable using significant unobservable inputs for the three months ended March 31, 2022 are as follows (in thousands): Amount Contingent consideration payable as of December 31, 2021 $ 6,933 Payment of contingent consideration - Daxx (1,933) Contingent consideration payable as of March 31, 2022 $ 5,000

Prepaid expenses (Tables)

Prepaid expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid and Other Current Assets	The prepaid expenses were as follows (in thousands): As of March 31, December 31, Prepaid expenses $ 3,431 $ 2,188 Value added tax receivable 585 931 Prepaid insurance 371 921 Other assets 1,384 463 Total prepaid expenses and other current assets 5,771 4,503

Property and equipment, net (Ta

Property and equipment, net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment consist of the following (in thousands): Estimated As of March 31, December 31, Computers and equipment 2-5 $ 11,950 $ 10,784 Machinery and automobiles 5 285 246 Furniture and fixtures 3-7 1,190 1,174 Software 5 513 513 Leasehold improvements 7-12 479 486 14,417 13,203 Less: Accumulated depreciation and amortization (8,737) (8,240) 5,680 4,963 Capitalized software development costs 2-3 4,974 4,656 Less: Accumulated amortization (3,800) (3,450) 1,174 1,206 Property and equipment, net $ 6,854 $ 6,169

Intangible assets, net (Tables)

Intangible assets, net (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible assets	Intangible assets consist of the following (in thousands): Estimated As of March 31, December 31, Customer relationships 8-12 $ 15,971 $ 15,971 Tradename 4-10 4,676 4,676 Non-compete agreements 2 440 440 21,087 21,087 Less: Accumulated amortization (2,611) (1,990) Intangible assets, net $ 18,476 $ 19,097

Other current liabilities (Tabl

Other current liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Other Liabilities, Current [Abstract]
Schedule of other current liabilities	The components of other current liabilities were as follows (in thousands): As of March 31, 2022 December 31, 2021 Contingent consideration payable $ 5,000 $ 6,933 Value added tax payable 1,168 1,274 Customer deposits 783 798 Other liabilities 638 594 Total other current liabilities $ 7,589 $ 9,599

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Outstanding Debt and Borrowing Capacity	The following table presents the outstanding debt and borrowing capacity of the Company under the 2022 Revolving Facility as of March 31, 2022 and and Line of Credit as of December 31, 2021 (in thousands): As of March 31, 2022 December 31, 2021 Outstanding debt $ 5,000 $ — Interest rate 2.2 % — % Available borrowing capacity $ 25,000 $ 500 Current maximum borrowing capacity $ 30,000 $ 500

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table shows the disaggregation of the Company’s revenues by major customer location. Revenues are attributed to geographic regions based upon billed client location. Substantially all of the revenue in our North America region relates to operations in the United States. Three months ended 2022 2021 Customer Location (in thousands) North America $ 57,609 $ 32,606 Europe 13,735 6,528 Other 66 — Total Revenues $ 71,410 $ 39,134 The following table shows the disaggregation of the Company’s revenues by main vertical markets: Three months ended 2022 2021 Vertical (in thousands) Retail $ 23,307 $ 8,850 Technology, Media and Telecom 21,444 14,411 CPG/Manufacturing 14,979 8,725 Finance 4,527 3,438 Other 7,153 3,710 Total Revenues $ 71,410 $ 39,134 The following table shows the disaggregation of the Company’s revenues by contract types: Three months ended 2022 2021 Contract Type (in thousands) Time-and-material $ 65,206 $ 36,240 Fixed-fee 6,204 2,894 Total Revenues $ 71,410 $ 39,134
Schedules of Concentration of Risk, by Risk Factor	The following table shows the amount of revenue derived from each customer exceeding 10% of the Company’s revenue: Three months ended 2022 2021 Customer 1 11.2 % 14.3 % Customer 2 10.3 % 13.0 % The following table shows number of customers exceeding 10% of the Company’s billed and unbilled receivable balances: As of March 31, December 31, Accounts receivable 2 1 Unbilled receivable 3 1

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Lease Cost and Supplemental Lease Information	Operating lease expense is recorded on a straight-line basis over the lease term. During three months ended March 31, 2022 lease costs were as follows (in thousands): Three Months Ended Operating lease cost $ 694 Variable lease cost 24 Short-term lease cost 239 Total lease cost $ 957 Supplemental information related to operating lease transactions is as follows (in thousands): Three Months Ended Lease liability payments $ 866 Non-cash net decrease in lease assets due to lease modifications (28) Non-cash net decrease in lease liability due to lease modifications 28 Weighted average remaining lease term and discount rate as of March 31, 2022 is as follows: As of Weighted average remaining lease term, in years 3.46 Weighted average discount rate 3.4 %
Schedule of Operating Lease Maturities	As of March 31, 2022, operating lease liabilities will mature as follows: Years ending December 31, (in thousands) Lease Payments 2022 (excluding three months ended March 31, 2022) $ 1,730 2023 1,346 2024 1,331 2025 734 2026 70 Total lease payments 5,211 Less: imputed interest (282) Total $ 4,929

Stock-based compensation (Table

Stock-based compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation	Employee stock-based compensation cost recognized in the consolidated statements of income/(loss) and comprehensive income/(loss) was as follows: Three months ended 2022 2021 (in thousands) Cost of revenue $ 249 $ 111 Engineering, research, and development 864 554 Sales and marketing 671 791 General and administrative 6,877 4,215 Total stock-based compensation $ 8,661 $ 5,671
Schedule of option activity	Stock option activity under the Company’s 2018 Plan is set forth below: Number of Options Weighted Average Exercise Price Aggregate Intrinsic Value Weighted Average Contractual Term Options outstanding as of December 31, 2021 1,916,101 $ 3.54 $ 65,971 6.97 Options exercised (62,396) $ 3.54 Options forfeited (12,398) $ 3.54 Options outstanding as of March 31, 2022 1,841,307 $ 3.54 $ 19,407 6.82 Options vested and exercisable as of March 31, 2022 1,729,216 $ 3.54 $ 18,226 6.78 Stock option activity under the Company’s 2020 Plan is set forth below: Number of Options Weighted Average Exercise Price Aggregate Intrinsic Value, in thousands Weighted Average Contractual Term Options outstanding as of December 31, 2021 2,224,687 $ 12.86 $ 55,856 8.53 Options granted 358,800 $ 12.15 Options exercised (9,308) $ 7.70 Options forfeited (83,345) $ 17.00 Options outstanding as of March 31, 2022 2,490,834 $ 12.64 $ 8,888 8.56 Options vested and exercisable as of March 31, 2022 705,387 $ 8.61 $ 3,895 7.93
Schedule of restricted stock unit activity	The following table summarizes activity of the Company’s RSUs for the three months ended March 31, 2022: Number of Shares Weighted Average Grant Date Fair Value Unvested awards as of December 31, 2021 1,493,915 $ 8.82 Awards granted 13,290 $ 13.87 Awards vested and released (156,525) $ 8.19 Unvested awards as of March 31, 2022 1,350,680 $ 8.94
Schedule of performance share activity	The following table summarizes activity of the Company's PSUs for the three months ended March 31, 2022: Number of Shares Weighted Average Grant Date Fair Value Unvested awards as of December 31, 2021 112,085 $ 15.69 Awards granted 518,938 $ 39.41 Awards vested and released (112,085) $ 15.69 Unvested awards as of March 31, 2022 518,938 $ 39.41

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted EPS of common stock as follows (in thousands except per share data): Three months ended 2022 2021 Numerator for basic and diluted loss per share Net loss $ (2,667) $ (2,062) Denominator for basic and diluted loss per share Weighted-average shares outstanding – basic and diluted 66,919 51,629 Net loss per share Basic $ (0.04) $ (0.04) Diluted $ (0.04) $ (0.04)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table represents the number of share equivalents (in thousands) outstanding during the period that were excluded from the calculation of diluted net loss per share attributable to common stockholders because including them would have had an anti-dilutive effect. Three months ended 2022 2021 Stock options to purchase common stock 4,178 6,555 Restricted stock units 1,453 2,862 Performance stock units 576 994 Warrants to purchase common stock — 8,478 Total 6,207 18,889

Basis of presentation and sum_3

Basis of presentation and summary of significant accounting policies (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Jan. 01, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets, net	$ 5,280		$ 0
Operating lease, liability	$ 4,929
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets, net		$ 5,900
Operating lease, liability		$ 5,700

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - Tactic Knowledge Inc. $ in Millions	May 29, 2021USD ($)employee	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Business Acquisition [Line Items]
Percentage of voting interests acquired	100.00%
Number of employees acquired | employee	180
Consideration transferred	$ 37.6
Payments to acquire business	33.6
Fair value of contingent consideration issued for acquisition of business	4
Maximum contingent consideration	$ 5
Estimated future operating results period	12 months
Cash and cash equivalents		$ 3
Increase in goodwill			$ 0.7
Pro forma information, revenue of acquiree		$ 7.1

Acquisitions - Assets acquired

Acquisitions - Assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 35,958	$ 35,958
Tactic Knowledge Inc.
Business Acquisition [Line Items]
Current assets	9,145
Property, plant and equipment	466
Intangible assets	12,913
Goodwill	21,268
Total assets acquired	43,792
Accounts payable and accrued expenses	(3,675)
Deferred taxes	(2,500)
Total liabilities assumed	(6,175)
Purchase price allocation	$ 37,617

Acquisitions - Intangible asset

Acquisitions - Intangible assets acquired (Details) - Tactic Knowledge Inc. $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Business Acquisition [Line Items]
Fair Value	$ 12,913
Customer relationships
Business Acquisition [Line Items]
Fair Value	$ 11,737
Useful Life	12 years
Trade name
Business Acquisition [Line Items]
Fair Value	$ 1,176
Useful Life	4 years

Acquisitions - Pro forma inform

Acquisitions - Pro forma information (Details) - Tactic Knowledge Inc. - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Revenue	$ 71,410	$ 43,415
Net loss	$ (2,667)	$ (1,721)
Diluted loss per share (in usd per share)	$ (0.04)	$ (0.03)

Fair Value - Narrative (Details

Fair Value - Narrative (Details)	24 Months Ended
	Dec. 31, 2021acquisition	Mar. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of acquisitions	2
Daxx | Measurement Input, Discount Rate
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration, measurement input		0.048
Tactic Knowledge Inc. | Measurement Input, Discount Rate
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration, measurement input		0.135

Fair Value - Fair Value Of Cont

Fair Value - Fair Value Of Contingent Consideration Payable (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Fair Value, Liabilities Reconciliation [Roll Forward]
Contingent consideration payable, beginning balance	$ 6,933
Acquisition date fair value of contingent consideration payable	(1,933)
Contingent consideration payable, ending balance	$ 5,000

Prepaid expenses (Details)

Prepaid expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 3,431	$ 2,188
Value added tax receivable	585	931
Prepaid insurance	371	921
Other assets	1,384	463
Total prepaid expenses and other current assets	$ 5,771	$ 4,503

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 6,854	$ 6,169
Property, Plant and Equipment, Excluding Capitalized Software Costs
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,417	13,203
Less: Accumulated depreciation and amortization	(8,737)	(8,240)
Property and equipment, net	5,680	4,963
Computers and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 11,950	10,784
Computers and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	2 years
Computers and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	5 years
Machinery and automobiles
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	5 years
Property and equipment, gross	$ 285	246
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,190	1,174
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	3 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	7 years
Software
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	5 years
Property and equipment, gross	$ 513	513
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 479	486
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	7 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	12 years
Capitalized software development costs
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,974	4,656
Less: Accumulated depreciation and amortization	(3,800)	(3,450)
Property and equipment, net	$ 1,174	$ 1,206
Capitalized software development costs | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	2 years
Capitalized software development costs | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (In Years)	3 years

Intangible assets, net (Details

Intangible assets, net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 21,087	$ 21,087
Less: Accumulated amortization	(2,611)	(1,990)
Intangible assets, net	18,476	19,097
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 15,971	15,971
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (In Years)	8 years
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (In Years)	12 years
Tradename
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 4,676	4,676
Tradename | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (In Years)	4 years
Tradename | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (In Years)	10 years
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (In Years)	2 years
Intangible assets, gross	$ 440	$ 440

Other current liabilities - Sch

Other current liabilities - Schedule of other current liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Liabilities, Current [Abstract]
Contingent consideration payable	$ 5,000	$ 6,933
Value added tax payable	1,168	1,274
Customer deposits	783	798
Other liabilities	638	594
Total other current liabilities	$ 7,589	$ 9,599

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Mar. 15, 2022	Mar. 31, 2022	Dec. 31, 2021	Oct. 31, 2017
Line of Credit Facility [Line Items]
Current maximum borrowing capacity		$ 30,000,000	$ 500,000	$ 500,000
Base Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Base Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
SOFR Or Adjusted EURIBOR Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
SOFR Or Adjusted EURIBOR Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.50%
Daily Simple SOFR, SONIA, Or SARON Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Daily Simple SOFR, SONIA, Or SARON Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.50%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Current maximum borrowing capacity	$ 30,000,000
Contingent maximum borrowing capacity	50,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Current maximum borrowing capacity	$ 10,000,000

Debt - Outstanding Debt and Bor

Debt - Outstanding Debt and Borrowing Capacity (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Oct. 31, 2017
Debt Disclosure [Abstract]
Outstanding debt	$ 5,000,000	$ 0
Interest rate	2.20%	0.00%
Available borrowing capacity	$ 25,000,000	$ 500,000
Current maximum borrowing capacity	$ 30,000,000	$ 500,000	$ 500,000

Revenue - Narrative (Details)

Revenue - Narrative (Details)	3 Months Ended
	Mar. 31, 2022segment
Revenue from Contract with Customer [Abstract]
Number of business segments	1

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total Revenues	$ 71,410	$ 39,134
Time-and-material
Disaggregation of Revenue [Line Items]
Total Revenues	65,206	36,240
Fixed-fee
Disaggregation of Revenue [Line Items]
Total Revenues	6,204	2,894
Retail
Disaggregation of Revenue [Line Items]
Total Revenues	23,307	8,850
Technology, Media and Telecom
Disaggregation of Revenue [Line Items]
Total Revenues	21,444	14,411
CPG/Manufacturing
Disaggregation of Revenue [Line Items]
Total Revenues	14,979	8,725
Finance
Disaggregation of Revenue [Line Items]
Total Revenues	4,527	3,438
Other
Disaggregation of Revenue [Line Items]
Total Revenues	7,153	3,710
North America
Disaggregation of Revenue [Line Items]
Total Revenues	57,609	32,606
Europe
Disaggregation of Revenue [Line Items]
Total Revenues	13,735	6,528
Other
Disaggregation of Revenue [Line Items]
Total Revenues	$ 66	$ 0

Revenue - Concentration Risk (D

Revenue - Concentration Risk (Details) - Customer Concentration Risk - customer	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Sales | Customer 1
Disaggregation of Revenue [Line Items]
Concentration risk percentage	11.20%	14.30%
Sales | Customer 2
Disaggregation of Revenue [Line Items]
Concentration risk percentage	10.30%	13.00%
Accounts receivable
Disaggregation of Revenue [Line Items]
Number of major customers	2		1
Unbilled receivable
Disaggregation of Revenue [Line Items]
Number of major customers	3		1

Leases - Narrative (Details)

Leases - Narrative (Details)	Mar. 31, 2022
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, remaining term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, remaining term	3 years 9 months 18 days

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Leases [Abstract]
Operating lease cost	$ 694
Variable lease cost	24
Short-term lease cost	239
Total lease cost	$ 957

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Lease Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Leases [Abstract]
Lease liability payments	$ 866
Non-cash net decrease in lease assets due to lease modifications	(28)
Non-cash net decrease in lease liability due to lease modifications	$ 28
Weighted average remaining lease term, in years	3 years 5 months 15 days
Weighted average discount rate	3.40%

Leases - Operating Lease Maturi

Leases - Operating Lease Maturities (Details) $ in Thousands	Mar. 31, 2022USD ($)
Leases [Abstract]
2022 (excluding three months ended March 31, 2022)	$ 1,730
2023	1,346
2024	1,331
2025	734
2026	70
Total lease payments	5,211
Less: imputed interest	(282)
Total	$ 4,929

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 2,170	$ (766)
Effective tax rate, percentage	(436.60%)	27.10%

Stockholders' equity - Common s

Stockholders' equity - Common stock (Details) - shares	Mar. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	110,000,000	110,000,000
Common stock, shares outstanding (in shares)	67,056,826	66,850,941
Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	110,000,000
Common stock, shares outstanding (in shares)	67,100,000	66,900,000

Stockholders' equity - Warrants

Stockholders' equity - Warrants (Details) $ in Thousands	Mar. 05, 2020redeemableWarrant	Mar. 05, 2020shares	Mar. 05, 2020commonStock	Mar. 31, 2022USD ($)shares	Mar. 31, 2021USD ($)shares	Feb. 17, 2021shares
Class of Stock [Line Items]
Warrants outstanding (in shares)					4,963,231
Change in fair value of warrants | $				$ 0	$ 859
ChaSerg | Working Capital Sponsor Loan, Equity Units
Class of Stock [Line Items]
Shares issued upon debt conversion (in shares)		53,000
ChaSerg | Working Capital Sponsor Loan, Common Stock
Class of Stock [Line Items]
Shares issued upon debt conversion (in shares)		1
ChaSerg | Working Capital Sponsor Loan, Redeemable Warrant
Class of Stock [Line Items]
Shares issued upon debt conversion (in shares)		0.5
Riverview Group LLC
Class of Stock [Line Items]
Warrant, convertible, conversion ratio						0.3480
Warrant, convertible, common shares (in shares)						2,221,378
Private Warrant
Class of Stock [Line Items]
Warrants outstanding (in shares)				0	346,500
Change in fair value of warrants | $					$ 900
Public Warrant
Class of Stock [Line Items]
Warrants outstanding (in shares)				0	4,616,731	6,383,269
Initial Public Offering | ChaSerg
Class of Stock [Line Items]
Sale of stock, components of units issued in transaction (in shares)	0.5		1
Initial Public Offering | Equity Unit | ChaSerg
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		22,000,000
Over-Allotment Option | ChaSerg
Class of Stock [Line Items]
Sale of stock, components of units issued in transaction (in shares)	0.5		1
Over-Allotment Option | Equity Unit | ChaSerg
Class of Stock [Line Items]
Sale of stock, components of units issued in transaction (in shares)		640,000

Stock-based compensation - Sche

Stock-based compensation - Schedule of employee stock-based compensation recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 8,661	$ 5,671
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	249	111
Engineering, research, and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	864	554
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	671	791
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 6,877	$ 4,215

Stock-based compensation - Narr

Stock-based compensation - Narrative (Details) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)shares
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition	1 year 11 months 19 days
Shares withheld (in shares) | shares	0.1
Tax withholding obligation	$ 1
Unrecognized compensation expense, excluding options	$ 11.3
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition	11 months 1 day
Shares withheld (in shares) | shares	0.1
Tax withholding obligation	$ 0.8
Unrecognized compensation expense, excluding options	$ 24
Performance factor percentage	148.00%
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, options	$ 0.1
2018 Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition	1 year 5 months 8 days
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, options	$ 9.4
Remaining shares available for grant (in shares) | shares	9.6
2020 Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition	2 years 10 months 24 days

Stock-based compensation - Sc_2

Stock-based compensation - Schedule of option activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
2018 Plan
Number of Options
Options outstanding, beginning balance (in shares)	1,916,101
Options exercised (in shares)	(62,396)
Options forfeited (in shares)	(12,398)
Options outstanding, ending balance (in shares)	1,841,307	1,916,101
Options vested and exercisable (in shares)	1,729,216
Weighted Average Exercise Price
Options outstanding, beginning balance (in dollars per share)	$ 3.54
Options exercised (in dollars per share)	3.54
Options forfeited (in dollars per share)	3.54
Option outstanding, ending balance (in dollars per share)	3.54	$ 3.54
Options vested and exercisable (in dollars per share)	$ 3.54
Aggregate Intrinsic Value and Weighted Average Contractual Term (in years)
Options outstanding, aggregate intrinsic value	$ 19,407	$ 65,971
Options vested and exercisable, aggregate intrinsic value	$ 18,226
Options outstanding, weighted average contractual term (in years)	6 years 9 months 25 days	6 years 11 months 19 days
Options vested and exercisable, weighted average contractual term (in years)	6 years 9 months 10 days
2020 Plan
Number of Options
Options outstanding, beginning balance (in shares)	2,224,687
Options granted (in shares)	358,800
Options exercised (in shares)	(9,308)
Options forfeited (in shares)	(83,345)
Options outstanding, ending balance (in shares)	2,490,834	2,224,687
Options vested and exercisable (in shares)	705,387
Weighted Average Exercise Price
Options outstanding, beginning balance (in dollars per share)	$ 12.86
Options granted (in dollars per share)	12.15
Options exercised (in dollars per share)	7.70
Options forfeited (in dollars per share)	17
Option outstanding, ending balance (in dollars per share)	12.64	$ 12.86
Options vested and exercisable (in dollars per share)	$ 8.61
Aggregate Intrinsic Value and Weighted Average Contractual Term (in years)
Options outstanding, aggregate intrinsic value	$ 8,888	$ 55,856
Options vested and exercisable, aggregate intrinsic value	$ 3,895
Options outstanding, weighted average contractual term (in years)	8 years 6 months 21 days	8 years 6 months 10 days
Options vested and exercisable, weighted average contractual term (in years)	7 years 11 months 4 days

Stock-based compensation - Sc_3

Stock-based compensation - Schedule of restricted stock unit and performance stock unit activity (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Restricted stock units
Number of Shares
Outstanding, beginning balance (in shares)	1,493,915
Granted (in shares)	13,290
Vested and released (in shares)	(156,525)
Outstanding, ending balance (in shares)	1,350,680
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (in dollars per share)	$ 8.94	$ 8.82
Granted (in dollars per share)	13.87
Vested and released (in dollars per share)	$ 8.19
Performance stock units
Number of Shares
Outstanding, beginning balance (in shares)	112,085
Granted (in shares)	518,938
Vested and released (in shares)	(112,085)
Outstanding, ending balance (in shares)	518,938
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (in dollars per share)	$ 39.41	$ 15.69
Granted (in dollars per share)	39.41
Vested and released (in dollars per share)	$ 15.69

Earnings per share - Schedule o

Earnings per share - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator for basic and diluted loss per share
Net loss	$ (2,667)	$ (2,062)
Weighted average number of shares outstanding - basic (in shares)	66,919	51,629
Weighted average number of shares outstanding - diluted (in shares)	66,919	51,629
Net loss per share
Basic (in dollars per share)	$ (0.04)	$ (0.04)
Diluted (in dollars per share)	$ (0.04)	$ (0.04)

Earnings per share - Schedule_2

Earnings per share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	6,207	18,889
Stock options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	4,178	6,555
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)	1,453	2,862
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	576	994
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	8,478