MeridianLink (MLNK) 10-Q 7 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Nov. 04, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-40680
Entity Registrant Name	MeridianLink, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-4844620
Entity Address, Address Line One	3560 Hyland Avenue
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Costa Mesa
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92626
City Area Code	714
Local Phone Number	708-6950
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	MLNK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-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		80,917,710
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Central Index Key	0001834494
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 115,752	$ 113,645
Accounts receivable, net of allowance for doubtful accounts	32,034	24,913
Prepaid expenses and other current assets	12,542	9,398
Escrow deposit	30,000	0
Total current assets	190,328	147,956
Property and equipment, net	5,044	5,989
Right of use assets	2,638	0
Intangible assets, net	279,548	298,597
Deferred tax assets, net	10,717	4,286
Goodwill	571,554	564,799
Other assets	4,170	4,266
Total assets	1,063,999	1,025,893
Current liabilities:
Accounts payable	2,173	2,335
Accrued liabilities	29,807	24,667
Deferred revenue	22,655	14,707
Current portion of long-term debt, net of debt issuance costs	3,367	2,139
Total current liabilities	58,002	43,848
Long-term debt, net of debt issuance costs	423,599	425,371
Long-term deferred revenue	378	0
Deferred rent	0	396
Other long-term liabilities	1,527	0
Total liabilities	483,506	469,615
Commitments and contingencies (Note 5)
Stockholders’ Equity
Preferred stock, $0.001 par value; 50,000,000 shares authorized; zero shares issued and outstanding at September 30, 2022 and December 31, 2021	0	0
Common stock, $0.001 par value; 600,000,000 shares authorized, 80,732,286 and 79,734,984 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	128	88
Additional paid-in capital	614,222	596,542
Accumulated deficit	(33,857)	(40,352)
Total stockholders’ equity	580,493	556,278
Total liabilities and stockholders’ equity	$ 1,063,999	$ 1,025,893

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred sock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	80,732,286	79,734,984
Common stock, shares outstanding (in shares)	80,732,286	79,734,984

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues, net	$ 71,754	$ 67,367	$ 217,495	$ 203,652
Cost of revenues:
Subscription and services	23,812	23,467	68,292	58,078
Amortization of developed technology	4,003	3,219	11,287	9,190
Total cost of revenues	27,815	26,686	79,579	67,268
Gross profit	43,939	40,681	137,916	136,384
Operating expenses:
General and administrative	21,423	29,917	60,416	64,103
Research and development	11,518	13,533	30,414	27,807
Sales and marketing	6,311	5,994	16,519	13,817
Acquisition related costs	163	0	2,549	781
Total operating expenses	39,415	49,444	109,898	106,508
Operating income (loss)	4,524	(8,763)	28,018	29,876
Other (income) expense, net:
Other income	(327)	(9)	(706)	(39)
Interest expense, net	6,855	7,165	16,649	27,073
Loss on debt repayment and extinguishment	0	(4,351)	0	(4,351)
Total other expense, net	6,528	11,507	15,943	31,385
Income (loss) before provision for income taxes	(2,004)	(20,270)	12,075	(1,509)
Provision for income taxes	890	1,176	5,318	5,274
Net income (loss)	(2,894)	(21,446)	6,757	(6,783)
Class A preferred return	0	(2,780)	0	(20,944)
Net income (loss) attributable to common stockholders, basic	(2,894)	(24,226)	6,757	(27,727)
Net income (loss) attributable to common stockholders, diluted	$ (2,894)	$ (24,226)	$ 6,757	$ (27,727)
Net income (loss) per share:
Basic (in dollars per share)	$ (0.04)	$ (0.34)	$ 0.08	$ (0.47)
Diluted (in dollars per share)	$ (0.04)	$ (0.34)	$ 0.08	$ (0.47)
Weighted average common stock outstanding:
Basic (in shares)	80,659,320	71,697,083	80,353,399	58,495,073
Diluted (in shares)	80,659,320	71,697,083	82,364,835	58,495,073

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Preferred Units and Stockholders' Equity / Members' Deficit - USD ($) $ in Thousands	Total	Restricted stock awards	Restricted Stock Units, Formerly Class B Units	Common Stock	Common Stock Restricted stock awards	Common Stock Restricted stock units	Common Stock Restricted Stock Units, Formerly Class B Units	Additional paid-in capital	Additional paid-in capital Restricted Stock Units, Formerly Class B Units	Accumulated deficit	Class A Preferred Units	Class B Common Units Common Stock
Beginning balance (in shares) at Dec. 31, 2020											319,913
Beginning balance at Dec. 31, 2020											$ 319,913
Increase (Decrease) in Temporary Equity [Roll Forward]
Repurchase of stock (in shares)											(54)	(103,421)
Repurchase of stock	$ (1,887)							$ (1,849)			$ (54)	$ (38)
Ending balance (in shares) at Mar. 31, 2021											319,859
Ending balance at Mar. 31, 2021											$ 319,859
Beginning balance (in shares) at Dec. 31, 2020				0								51,492,805
Beginning balance at Dec. 31, 2020	(26,429)			$ 0				3,909		$ (30,338)		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Payment of Class A units cumulative preferred return	(12)									(12)
Vesting of Class B carried equity units (in shares)												575,004
Vesting of Class B carried equity units	38											$ 38
Repurchase of stock (in shares)											(54)	(103,421)
Repurchase of stock	(1,887)							(1,849)			$ (54)	$ (38)
Share-based compensation expense	643							643
Net income (loss)	7,231									7,231
Ending balance (in shares) at Mar. 31, 2021				0								51,964,388
Ending balance at Mar. 31, 2021	(20,416)			$ 0				2,703		(23,119)		$ 0
Beginning balance (in shares) at Dec. 31, 2020											319,913
Beginning balance at Dec. 31, 2020											$ 319,913
Ending balance (in shares) at Sep. 30, 2021											0
Ending balance at Sep. 30, 2021											$ 0
Beginning balance (in shares) at Dec. 31, 2020				0								51,492,805
Beginning balance at Dec. 31, 2020	(26,429)			$ 0				3,909		(30,338)		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(6,783)
Ending balance (in shares) at Sep. 30, 2021				79,528,555								0
Ending balance at Sep. 30, 2021	555,388			$ 79				592,448		(37,139)		$ 0
Beginning balance (in shares) at Mar. 31, 2021											319,859
Beginning balance at Mar. 31, 2021											$ 319,859
Ending balance (in shares) at Jun. 30, 2021											319,859
Ending balance at Jun. 30, 2021											$ 319,859
Beginning balance (in shares) at Mar. 31, 2021				0								51,964,388
Beginning balance at Mar. 31, 2021	(20,416)			$ 0				2,703		(23,119)		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of Class B carried equity units (in shares)												148,516
Vesting of Class B carried equity units	9											$ 9
Share-based compensation expense	665							665
Net income (loss)	7,432									7,432
Ending balance (in shares) at Jun. 30, 2021				0								52,112,904
Ending balance at Jun. 30, 2021	(12,310)			$ 0				3,368		(15,687)		$ 9
Increase (Decrease) in Temporary Equity [Roll Forward]
Effect of Corporate Conversion (in shares)				68,720,140							(319,859)	(52,112,904)
Effect of Corporate Conversion	319,853			$ 69				319,799		(6)	$ (319,859)	$ (9)
Ending balance (in shares) at Sep. 30, 2021											0
Ending balance at Sep. 30, 2021											$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (in shares)						21,691	573,316
Vesting of restricted stock			$ 38						$ 38
Issuance of common stock due to exercise of stock options (in shares)				213,408
Issuance of common stock due to exercise of stock options	1,317							1,317
Effect of Corporate Conversion (in shares)				68,720,140							(319,859)	(52,112,904)
Effect of Corporate Conversion	319,853			$ 69				319,799		(6)	$ (319,859)	$ (9)
Issuance of common stock in connection with initial public offering, net of underwriters' discounts and commissions and issuance costs (in shares)				10,000,000
Issuance of common stock in connection with initial public offering, net of underwriters’ discounts and commissions and issuance costs	242,364			$ 10				242,354
Share-based compensation expense	25,572							25,572
Net income (loss)	(21,446)									(21,446)
Ending balance (in shares) at Sep. 30, 2021				79,528,555								0
Ending balance at Sep. 30, 2021	555,388			$ 79				592,448		(37,139)		$ 0
Beginning balance (in shares) at Dec. 31, 2021				79,734,984
Beginning balance at Dec. 31, 2021	556,278			$ 88				596,542		(40,352)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (in shares)					484,401	76,937
Vesting of restricted stock		$ 32			$ 32
Issuance of common stock due to exercise of stock options (in shares)				28,909
Issuance of common stock due to exercise of stock options	179							179
Share-based compensation expense	3,887							3,887
Net income (loss)	7,479									7,479
Ending balance (in shares) at Mar. 31, 2022				80,325,231
Ending balance at Mar. 31, 2022	$ 567,855			$ 120				600,608		(32,873)
Increase (Decrease) in Temporary Equity [Roll Forward]
Repurchase of stock (in shares)	(16,703)
Repurchase of stock	$ (300)
Beginning balance (in shares) at Dec. 31, 2021				79,734,984
Beginning balance at Dec. 31, 2021	$ 556,278			$ 88				596,542		(40,352)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock due to exercise of stock options (in shares)	29,909
Issuance of common stock through employee purchase plan (in shares)	64,985
Repurchase of stock (in shares)	(16,703)
Repurchase of stock	$ (300)
Net income (loss)	6,757
Ending balance (in shares) at Sep. 30, 2022				80,732,286
Ending balance at Sep. 30, 2022	580,493			$ 128				614,222		(33,857)
Increase (Decrease) in Temporary Equity [Roll Forward]
Repurchase of stock (in shares)				(12,300)
Repurchase of stock	(193)									(193)
Beginning balance (in shares) at Mar. 31, 2022				80,325,231
Beginning balance at Mar. 31, 2022	567,855			$ 120				600,608		(32,873)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (in shares)					92,209	4,656
Vesting of restricted stock		6			$ 6
Issuance of common stock due to exercise of stock options (in shares)				1,000
Issuance of common stock due to exercise of stock options	7							7
Issuance of common stock through employee purchase plan (in shares)				64,985
Issuance of common stock through employee stock purchase plan	922							922
Repurchase of stock (in shares)				(12,300)
Repurchase of stock	(193)									(193)
Share-based compensation expense	5,548							5,548
Net income (loss)	2,172									2,172
Ending balance (in shares) at Jun. 30, 2022				80,475,781
Ending balance at Jun. 30, 2022	$ 576,317			$ 126				607,085		(30,894)
Increase (Decrease) in Temporary Equity [Roll Forward]
Repurchase of stock (in shares)	(4,403)			(4,403)
Repurchase of stock	$ (69)									(69)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (in shares)					11,496	259,868
Vesting of restricted stock		$ 2			$ 2
Shares withheld related to net share settlement of RSUs (in shares)				(10,456)
Shares withheld related to net share settlement of RSUs	$ (184)							(184)
Repurchase of stock (in shares)	(4,403)			(4,403)
Repurchase of stock	$ (69)									(69)
Share-based compensation expense	7,321							7,321
Net income (loss)	(2,894)									(2,894)
Ending balance (in shares) at Sep. 30, 2022				80,732,286
Ending balance at Sep. 30, 2022	$ 580,493			$ 128				$ 614,222		$ (33,857)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income (loss)	$ 6,757	$ (6,783)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	39,746	37,654
Amortization of debt issuance costs	1,705	2,551
Share-based compensation expense	16,501	26,835
Loss on disposal of fixed assets	164	524
Loss on sublease liability	0	405
Loss on debt repayment and extinguishment	0	4,351
Gain on change in fair value of earnout	(162)	0
Other adjustments	0	(18)
Deferred income taxes	5,193	4,992
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(6,964)	(2,033)
Prepaid expenses and other assets	(2,480)	(6,179)
Accounts payable	(450)	(961)
Accrued liabilities	(247)	(2,271)
Deferred revenue	7,472	10,016
Deferred rent	0	(71)
Net cash provided by operating activities	67,235	69,012
Cash flows from investing activities:
Acquisition, net of cash acquired – TazWorks, LLC	0	(85,420)
Acquisition, net of cash and restricted cash acquired – Saylent Technologies, Inc.	0	(35,945)
Acquisition, net of cash and restricted cash acquired – StreetShares, Inc.	(23,138)	0
Escrow deposit	(30,000)	0
Capitalized software additions	(6,323)	(3,590)
Purchases of property and equipment	(889)	(692)
Net cash used in investing activities	(60,350)	(125,647)
Cash flows from financing activities:
Repurchases of common stock	(262)	0
Proceeds from initial public offering, net of underwriters’ discounts and commissions	0	247,227
Proceeds from exercise of stock options	186	1,317
Payment due to effect of corporate conversion	0	(6)
Proceeds from employee stock purchase plan	922	0
Taxes paid related to net share settlement of RSUs	(184)	0
Proceeds from long-term debt	0	100,000
Principal payments of long-term debt	(2,175)	(202,590)
Payment of Regulation A+ investor note	(3,265)	0
Payments of debt issuance costs	0	(1,970)
Payments of Class A cumulative preferred return	0	(12)
Payments of deferred offering costs	0	(4,435)
Payment to sellers of Teledata Communications, Inc	0	(2,142)
Holdback payment to sellers of MeridianLink	0	(25,665)
Net cash (used in) provided by financing activities	(4,778)	109,783
Net increase in cash, cash equivalents and restricted cash	2,107	53,148
Cash, cash equivalents and restricted cash, beginning of period	113,645	39,881
Cash, cash equivalents and restricted cash, end of period	115,752	93,029
Reconciliation of cash, cash equivalents, and restricted cash
Cash and cash equivalents	115,752	93,029
Restricted cash	0	0
Cash, cash equivalents, and restricted cash	115,752	93,029
Supplemental disclosures of cash flow information:
Cash paid for interest	14,852	24,549
Cash paid for income taxes	1,179	239
Non-cash investing and financing activities:
Regulation A+ investor note assumed in business combination	3,265	0
Initial recognition of operating lease liability	3,786	0
Initial recognition of operating lease right-of-use asset	3,096	0
Share-based compensation expense capitalized to software additions	255	45
Shares withheld with respect to net settlement of RSUs	184	0
Purchases of property and equipment included in accounts payable and accrued expenses	2	0
Vesting of restricted stock awards and RSUs	40	85
Deferred offering costs included in accounts payable and accrued expenses	0	423
Effect of corporate conversion (Note 1)	0	320
Related party receivable net against holdback payment to prior shareholders	0	4,335
Class A Units
Cash flows from financing activities:
Repurchases of Units	0	(54)
Class B Units
Cash flows from financing activities:
Repurchases of Units	$ 0	$ (1,887)

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business MeridianLink, Inc., and its wholly-owned subsidiaries, (collectively the “Company”) provides secure, cloud-based digital solutions that transform the ways in which traditional and emerging financial services providers engage with account holders and end users. The Company sells its solutions to financial institutions, including banks, credit unions, mortgage lenders, specialty lending providers, and consumer reporting agencies. The Company delivers its solutions to the substantial majority of its customers using a software-as-a-service (“SaaS”) model under which its customers pay subscription fees for the use of the Company’s solutions. The Company is controlled by its majority stockholder, which is represented by various investment funds of Thoma Bravo UBP, LLC and its affiliates (“Thoma Bravo”). The Company is headquartered in Costa Mesa, California. Corporate Conversion Prior to July 27, 2021, the Company operated as a Delaware limited liability company under the name Project Angel Parent, LLC (“Parent”), which directly and indirectly held all the equity interests in its operating subsidiaries. On May 31, 2018, a subsidiary of Parent acquired all the outstanding common stock of MeridianLink, Inc. (“MeridianLink”). Under the terms of the Amended and Restated Limited Liability Company Operating Agreement (“Agreement”), dated as of May 31, 2018, of Parent, the members were not obligated for debt, liabilities, contracts or other obligations of Parent. Profits and losses were allocated to members as defined in the Agreement. On July 27, 2021, prior to the effectiveness of the registration statement for the Company’s initial public offering, MeridianLink, the then operating company and the indirect wholly owned subsidiary of Project Angel Parent, LLC, changed its name to ML California Sub, Inc, and Project Angel Parent, LLC converted into a Delaware corporation pursuant to a statutory conversion and changed its name to MeridianLink, Inc. As a result of the corporate conversion, MeridianLink, Inc. succeeded to all property and assets and debts and obligations of Project Angel Parent, LLC. Effective July 27, 2021, MeridianLink, Inc. is governed by its certificate of incorporation filed with the Delaware Secretary of State and its bylaws. Upon its conversion into a corporation, the Company converted each of its outstanding Class A preferred units (“Class A Units”) into a number of shares of common stock equal to the result of the accrued preferred return price per Class A Unit divided by the per share of common stock conversion price determined by the board of directors to be $25.50. The preferred return price for each Class A Unit was equal to the future value of $1,000 at a 9% interest rate compounded quarterly over the time passed since the issuance of such unit. Upon the Company’s conversion into a corporation, the outstanding Class A Units converted into an aggregate of 16,607,235 shares of common stock and were reclassified into permanent equity. Additionally, all the outstanding Class B common units (“Class B Units”) converted into an aggregate of 53,646,668 shares of common stock on a one-for-one basis. At the time of the corporate conversion there were 1,533,763 of such shares that remained subject to future vesting and were not included in the outstanding shares. Following the Corporate Conversion, there were no units of Class A Units outstanding. The effects of the events described in the preceding two paragraphs are collectively referred to as the “Corporate Conversion.” Initial Public Offering and Reverse Stock Split On July 30, 2021, the Company completed its initial public offering (“IPO”) through an underwritten sale of 13.2 million shares of its common stock, of which 10.0 million newly issued shares were sold by the Company at a price to the public of $26.00 per share. The Company received net proceeds of approximately $242.1 million after deducting approximately $17.9 million in underwriting discounts, commissions, and offering-related expenses. The IPO also included the sale of 3.2 million shares of our common stock by the selling stockholders. The Company did not receive any proceeds from the sale of common stock by the selling stockholders. Additionally, the selling stockholders granted the underwriters an option, exercisable for 30 days after the effective date of the Prospectus, to purchase up to 2.0 million additional shares of common stock. The option was exercised for 1.2 million additional shares on August 26, 2021. In connection with the listing of the Company’s common stock on the New York Stock Exchange (the “NYSE”), the Company entered into indemnification agreements with its directors and certain officers and employees that require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or services as directors, officers, or employees. In advance of the IPO, on July 16, 2021, the Company effected a 1-for-2 reverse unit split of the Company’s Class B Units, whereby every two Class B Units converted into one Class B Unit. All Class B Unit and per unit information included in the accompanying condensed consolidated financial statements have been adjusted to reflect this reverse unit split for all periods presented. Following the Corporate Conversion, there were no units of Class B Units outstanding.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements of the Company have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany balances and transactions have been eliminated in consolidation. Unaudited Condensed Consolidated Financial Information In the Company's opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, consisting of normal, recurring adjustments, necessary for a fair presentation. Certain information and disclosures normally included in the notes to the annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted from these unaudited condensed consolidated financial statements pursuant to the rules and regulations of the SEC. Accordingly, these unaudited condensed consolidated financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (“Annual Report”). The results of operations for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any other period. Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the reported amounts of revenues and expenses. Significant items subject to such estimates include revenue recognition including determining the nature and timing of satisfaction of performance obligations and variable consideration; share-based compensation; the fair value of acquired intangibles; the capitalization of software development costs; the useful lives of long-lived intangible assets; impairment of goodwill and long-lived assets; and income taxes. In accordance with GAAP, management bases its estimates on historical experience and on various other assumptions that management believes are reasonable under the circumstances. Management regularly evaluates its estimates and assumptions using historical experience and other factors; however, actual results could differ significantly from those estimates. Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 2, “Significant Accounting Policies” in the Company’s Annual Report. There have been no changes to the Company’s significant accounting policies described in the Company’s Annual Report that have had a material impact on its condensed consolidated financial statements and related notes, except for updates resulting from the adoption of ASU 2016-02, “Leases (Topic 842)” as discussed below. Leases Leases arise from contractual obligations that convey the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. At the inception of the contract, the Company determines if an arrangement contains a lease based on whether there is an identified asset and whether the Company controls the use of the identified asset. The Company also determines the classification of that lease, between financing and operating, at the lease commencement date. The Company accounts for and allocates consideration to the lease and non-lease components as a single lease component. A right-of-use (“ROU”) asset represents the Company’s right to use an underlying asset, and a lease liability represents the Company’s obligation to make payments during the lease term. ROU assets are recorded and recognized at commencement for the lease liability amount, adjusted for initial direct costs incurred and lease incentives received, and adjusted for prepaid or accrued lease payments. Lease liabilities are recorded at the present value of the future lease payments over the lease term at commencement. The discount rate used to determine the present value is the incremental borrowing rate, unless the interest rate implicit in the lease is readily determinable. As the implicit rate for the operating leases is generally not determinable, the Company uses an incremental borrowing rate as the discount rate at the lease commencement date to determine the present value of lease payments. The Company determines the discount rate of the leases by considering various factors, such as the credit rating, interest rates of similar debt instruments of entities with comparable credit ratings, jurisdictions, and the lease term. The Company’s operating leases typically include non-lease components such as common-area maintenance costs, utilities, and other maintenance costs. For real estate leases, the Company has elected to include non-lease components with lease payments for the purpose of calculating lease right-of-use assets and liabilities to the extent that they are fixed. Non-lease components that are not fixed are expensed as incurred as variable lease payments. The Company’s lease terms may include options to extend or terminate the lease. The Company generally uses the base, non-cancelable, lease term when recognizing the lease assets and liabilities, unless it is reasonably certain that the Company will exercise those options. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company’s ROU assets are included in right of use assets and the current and non-current portions of the lease liabilities are included in accrued liabilities and other long-term liabilities, respectively, on the condensed consolidated balance sheets. The Company does not record leases with terms of 12 months or less on the condensed consolidated balance sheets. Lease expense is recognized on a straight-line basis over the expected lease term. The Company has entered into subleases, or has made decisions and taken actions to exit and sublease certain unoccupied leased office space. Sublease income is recorded as a reduction of rent expense straight-line over the term of the sublease. The Company tests ROU assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. For leased assets, such circumstances would include the decision to leave a leased facility prior to the end of the minimum lease term or subleases for which estimated cash flows do not fully cover the costs of the associated lease. No impairment of ROU assets was recorded during the nine months ended September 30, 2022. Accounting Pronouncements Recently Adopted The Company is an emerging growth company as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) and has elected to use the extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies. ASU 2016-02, “Leases (Topic 842)” The new standard establishes a right-of-use model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the condensed consolidated statements of operations. The new standard provides for a modified retrospective approach which requires recognition at the beginning of the earliest comparative period presented of leases that exist at that date, as well as adjusting equity at the beginning of the earliest comparative period presented as if the new standard had always been applied. In July 2018, the FASB issued ASU 2018-11, which provides an additional transition method. Under the additional transition method, an entity initially applies the new lease guidance at the adoption date (rather than at the beginning of the earliest period presented). Therefore, an entity which elects the additional transition method would apply Topic 840 in the comparative periods and recognize the effects of applying Topic 842 as a cumulative adjustment to retained earnings as of the adoption date. If an entity elects the new transition method, it is required to provide the Topic 840 disclosures for all prior periods presented that remain under the legacy lease guidance. The Company adopted the new standard on January 1, 2022, utilizing the optional transition approach to not apply Topic 842 in the comparative periods presented. Additionally, the Company elected the package of practical expedients to not (1) reassess whether any expired or existing contracts are considered or contain leases; (2) reassess the lease classification for any expired or existing leases; and (3) reassess the initial direct costs for any existing leases. The most significant impact upon adoption was related to its long-term office space leases that resulted in the recognition of right of use assets and related liabilities of approximately $2.6 million and $3.4 million, respectively, on the Company’s condensed consolidated balance sheets. ASU 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” The amendments in this ASU require that an acquirer recognizes and measures contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 rather than at fair value. The ASU is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption is permitted. The Company adopted the new standard on January 1, 2022, prospectively, for business combinations that occur subsequent to the adoption date. The adoption did not have a material impact on the Company’s condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” Rather than generally recognizing credit losses when it is probable that the loss has been incurred, the revised guidance requires companies to recognize an allowance for credit losses for the difference between the amortized cost basis of a financial instrument and the amount of amortized cost that the company expects to collect over the instrument’s contractual life. ASU 2016-13 is effective for the Company for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years; early adoption is permitted. The Company intends to adopt the new standard as of January 1, 2023 as a cumulative effect adjustment to retained earnings. The Company does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements and disclosures . ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” The standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 related to the approach for intraperiod tax allocation and the recognition of deferred tax liabilities for outside basis differences and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard also improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. For the Company, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the amendments is permitted. The Company intends to adopt the new standard as of January 1, 2023 and does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements and disclosures . ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” ASU 2020-04 provides optional guidance for a limited time to ease the potential accounting burden associated with transitioning away from reference rates, such as the London Inter-Bank Offered Rate (LIBOR), which regulators in the United Kingdom are currently phasing out. The expedients and exceptions provided by ASU 2020-04 are for the application of U.S. GAAP to contracts, hedging relationships, and other transactions affected by the rate reform, and will not be available after December 31, 2022, other than for certain hedging relationships entered into before December 31, 2022. Companies can apply the ASU immediately. However, the guidance will only be available for a limited time. The Company is currently evaluating the impact of this guidance on its condensed consolidated financial statements and related disclosures.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of Revenue The following table disaggregates the Company’s net revenues by solution type (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Lending Software Solutions $ 52,414 $ 44,657 $ 153,249 $ 133,034 Data Verification Software Solutions 19,340 22,710 64,246 70,618 Total $ 71,754 $ 67,367 $ 217,495 $ 203,652 Lending Software Solutions accounted for 73% and 66% of total revenues for the three months ended September 30, 2022, and 2021, respectively. Data Verification Software Solutions accounted for 27% and 34% of total revenues for the three months ended September 30, 2022 and 2021, respectively. Lending Software Solutions accounted for 70% and 65% of total revenues for the nine months ended September 30, 2022, and 2021, respectively. Data Verification Software Solutions accounted for 30% and 35% of total revenues for the nine months ended September 30, 2022 and 2021, respectively. The following table disaggregates the Company’s net revenues by major source (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Subscription fees $ 61,861 $ 58,988 $ 188,860 $ 179,732 Professional services 7,293 5,706 21,070 16,812 Other 2,600 2,673 7,565 7,108 Total revenues $ 71,754 $ 67,367 $ 217,495 $ 203,652 Deferred Revenue The deferred revenue balance consists of subscription and implementation fees which have been invoiced up front and are recognized as revenue only when the revenue recognition criteria are met. The Company’s subscription contracts are typically invoiced to its customers annually, and revenue is recognized ratably over the service term. Any fees invoiced up front for contracts that have a service term that extend multiple years, the portion of deferred revenue that will be recognized beyond 12 months from the date of the financial statements, are classified as long-term deferred revenue. The changes in the Company’s deferred revenue as of September 30, 2022 and 2021 were as follows (in thousands): Nine Months Ended September 30, 2022 2021 Deferred revenue, beginning balance $ 14,707 $ 10,873 Billing of transaction consideration 225,821 213,668 Revenue recognized (217,495) (203,652) Deferred revenue, ending balance $ 23,033 $ 20,889 Deferred revenue, current $ 22,655 $ 20,889 Long-term deferred revenue 378 — Total deferred revenue $ 23,033 $ 20,889 Assets Recognized from Costs to Obtain a Contract with a Customer Sales commissions related to the Company’s customer agreements are capitalized and charged to expense over the expected period of customer benefit. Current costs are included in prepaid expenses and other current assets, and non-current costs are included in other assets on the accompanying condensed consolidated balance sheets. The following table represents the changes in contract cost assets (in thousands): Nine Months Ended September 30, 2022 2021 Beginning balance $ 5,835 $ 3,207 Additions 2,114 2,832 Amortization (1,856) (1,014) Ending balance $ 6,093 $ 5,025 Contract cost assets, current $ 2,835 $ 2,004 Contract cost assets, noncurrent 3,258 3,021 Total deferred contract cost assets $ 6,093 $ 5,025 Allowance for Doubtful Accounts

Balance Sheet Components

Balance Sheet Components	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	Balance Sheet Components Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): As of September 30, 2022 As of December 31, 2021 Prepaid expenses $ 8,309 $ 6,752 Contract cost assets – current 2,835 2,402 Income tax receivable 989 — Others 409 244 Total prepaid expenses and other current assets $ 12,542 $ 9,398 Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): As of September 30, 2022 As of December 31, 2021 Computer equipment and software $ 8,795 $ 7,995 Leasehold improvements 3,015 2,994 Office equipment and furniture 1,250 1,378 Total 13,060 12,367 Less: Accumulated depreciation (8,016) (6,378) Property and equipment, net $ 5,044 $ 5,989 Depreciation expense amounted to $0.6 million for both the three months ended September 30, 2022 and 2021, and $1.7 million for both the nine months ended September 30, 2022 and 2021. The Company disposed of office furniture that resulted in a loss of $0.0 million and $0.3 million during the three months ended September 30, 2022 and 2021, respectively, and $0.2 million and $0.5 million during the nine months ended September 30, 2022 and 2021, respectively. The losses are included in general and administrative expenses in the accompanying condensed consolidated statements of operations. Intangible Assets, Net Intangible assets, net consisted of the following (in thousands): As of September 30, 2022 Gross Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 329,100 $ (123,870) $ 205,230 Developed technology 86,600 (37,375) 49,225 Trademarks 24,275 (9,502) 14,773 Non-competition agreements 600 (450) 150 Capitalized software 17,481 (7,311) 10,170 Total intangible assets, net $ 458,056 $ (178,508) $ 279,548 As of December 31, 2021 Gross Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 328,600 $ (99,320) $ 229,280 Developed technology 74,800 (29,207) 45,593 Trademarks 24,175 (7,474) 16,701 Non-competition agreements 600 (225) 375 Capitalized software 10,902 (4,254) 6,648 Total intangible assets, net $ 439,077 $ (140,480) $ 298,597 The weighted average remaining useful lives for intangible assets at September 30, 2022 were as follows: Weighted Average Remaining Useful Life Customer relationships 6 years Developed technology 5 years Trademarks 6 years Non-competition agreements 1 year Capitalized software 3 years Amortization expense related to intangible assets was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Cost of revenues $ 4,003 $ 3,219 $ 11,287 $ 9,190 General and administrative expense 8,790 8,906 26,741 26,721 Total amortization expense $ 12,793 $ 12,125 $ 38,028 $ 35,911 The estimated future amortization of intangible assets as of September 30, 2022 was as follows (in thousands): Years ending December 31, 2022 (remaining three months) $ 13,003 2023 50,531 2024 48,584 2025 42,750 2026 38,794 Thereafter 85,886 Total amortization expense $ 279,548 Accrued Liabilities Accrued liabilities consisted of the following (in thousands): As of As of Accrued payroll and payroll-related expenses $ 9,056 $ 8,522 Accrued costs of revenues 6,135 2,217 Accrued operating costs 3,789 2,099 Accrued bonuses 4,174 6,708 Sales tax liability from acquisitions 2,939 2,939 Lease liability – current 1,401 233 Other accrued expenses 2,313 1,949 Total accrued liabilities $ 29,807 $ 24,667

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters The Company is, and from time to time may be, involved in legal proceedings and claims arising out of the Company’s operations in the ordinary course of business. Management is not currently aware of any legal proceedings or claims against it that could have a material adverse effect on the financial position, results of operations, or cash flows of the Company. Other Contractual Commitments The Company’s contractual commitments primarily consist of third-party cloud infrastructure agreements and service subscription arrangements used to support operations at the enterprise level. Future minimum payments under the Company’s non-cancelable purchase commitments as of September 30, 2022 are as follows (in thousands): Contractual Commitments Years ending December 31, 2022 (remaining three months) $ — 2023 375 2024 395 2025 7,911 Total $ 8,681

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	Leases The Company leases office space and server equipment under various operating lease agreements that expire through December 2026. The Company recognizes the related rent expense on a straight-line basis over the term of each lease. Free rent and rental increases are recognized on a straight-line basis over the term of each lease. As of September 30, 2022, the weighted average remaining lease term was three years and the weighted average discount rate was 5.7%. The Company does not have any finance leases as of September 30, 2022. One lease is with a related party with a termination date of December 2022. The monthly payments during each of the nine months ended September 30, 2022 and 2021 were $0.1 million. The monthly payments are subject to annual increases. The Company also has subleases of former office spaces which expire at various dates from 2022 to 2026. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $0.1 million for both the three months ended September 30, 2022 and 2021, and $0.3 million and $0.2 million for the nine months ended September 30, 2022 and 2021, respectively. One of the subleases was entered into during March 2022 resulting in a total loss of $0.1 million from the disposal of related assets. The loss is included in general and administrative expense on the condensed consolidated statements of operations for the nine months ended September 30, 2022. Rent expense, gross of sublease income, has been recorded in the condensed consolidated statements of operations for the three and nine months ended September 30, 2022 (in thousands): Three Months Ended Nine Months Ended Cost of revenues $ 201 $ 507 General and administrative 23 187 Research and development 170 387 Sales and marketing 66 163 Total rent expense $ 460 $ 1,244 The following table presents supplemental cash flow information about the Company’s leases (in thousands): Nine Months Ended Cash paid for amounts included in the measurement of lease liabilities $ 1,563 Operating lease assets obtained in exchange for new operating lease liabilities 1,082 The following table presents supplemental balance sheet information about the Company’s leases (in thousands): As of Operating lease ROU assets $ 2,638 Operating lease liabilities, current $ 1,401 Noncurrent operating lease liabilities 1,511 Total operating lease liabilities $ 2,912 As of September 30, 2022, remaining maturities of lease liabilities were as follows (in thousands): Related Party Third Party Total Years Ending December 31, 2022 (remaining three months) $ 219 $ 226 $ 445 2023 — 1,259 1,259 2024 — 843 843 2025 — 321 321 2026 — 244 244 Total operating lease payments (1) 219 2,893 3,112 Less: imputed interest (1) (199) (200) Total operating lease liabilities $ 218 $ 2,694 $ 2,912 ______________ (1) Presented gross of sublease income. The Company expects to receive sublease income of approximately $0.1 million in the remainder of the year ended December 31, 2022, $0.3 million in 2023, and $0.2 million thereafter. As of December 31, 2021, prior to the adoption of Topic 842, the aggregate future non-cancelable minimum rental payments and expected sublease receipts were as follows (in thousands): Related Party Third Party Sublease Receipts Total Years Ending December 31, 2022 $ 875 $ 736 $ (293) $ 1,318 2023 — 753 — 753 2024 — 722 — 722 2025 — 319 — 319 2026 — 244 — 244 Thereafter — — — — Total future minimum lease payments $ 875 $ 2,774 $ (293) $ 3,356 Rent expense for the three and nine months ended September 30, 2021 was as follows (in thousands): Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Cost of revenues $ 156 $ 608 General and administrative 41 153 Research and development 100 393 Sales and marketing 44 174 Total rent expense $ 341 $ 1,328 As of December 31, 2021, the Company had an accrued lease termination liability related to leased office space it ceased using during February 2021. The termination liability as of December 31, 2021 was $0.2 million. Upon adoption of Topic 842 on January 1, 2022, the termination liability was removed as an adjustment to the related right of use asset.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following (in thousands): As of September 30, 2022 As of December 31, 2021 2021 Term loan $ 432,825 $ 435,000 Debt issuance costs (5,859) (7,490) Total debt, net 426,966 427,510 Less: Current portion of long-term debt 2021 Term loan 4,350 3,263 Debt issuance costs (983) (1,124) Total current portion of long-term debt, net 3,367 2,139 Total non-current portion of long-term debt, net $ 423,599 $ 425,371 Amortization of deferred financing fees was $0.3 million and $0.7 million for the three months ended September 30, 2022 and 2021, respectively. Total interest expense, excluding amortization of deferred financing fees, was $6.6 million and $6.4 million for the three months ended September 30, 2022 and 2021, respectively. Amortization of deferred financing fees was $1.7 million and $2.6 million for the nine months ended September 30, 2022 and 2021, respectively. Total interest expense, excluding amortization of deferred financing fees, was $14.9 million and $24.5 million for the nine months ended September 30, 2022 and 2021, respectively. 2021 Credit Agreement On November 10, 2021, the Company entered into a credit agreement (the “2021 Credit Agreement”), which provides for a term loan facility (the “2021 Term Loan”) in an aggregate principal amount of $435.0 million, and a revolving credit facility (the “2021 Revolving Credit Facility”) in an aggregate principal amount of $50.0 million, inclusive of a $10.0 million letter of credit sub-facility. The Company used the proceeds from the 2021 Term Loan to pay all outstanding amounts due under the Company’s previous 2018 First Lien plus certain fees and expenses. The 2021 Term Loan and 2021 Revolving Credit Facility mature on November 10, 2028 and November 10, 2026, respectively. The Company has not drawn on the 2021 Revolving Credit Facility as of September 30, 2022. The obligations under the 2021 Credit Agreement are secured by a lien on substantially all tangible and intangible property of the Company, subject to customary exceptions, limitations, and exclusions from the collateral. The 2021 Credit Agreement contains customary affirmative covenants, negative covenants and events of default, including covenants and restrictions that, among other things, require the Company to satisfy a financial covenant, and restricts or limits the ability of the Company to grant or incur liens, incur additional indebtedness, enter into joint ventures or partnerships, engage in mergers and acquisitions, engage in asset sales, and declare dividends on its capital stock, subject in each case to certain customary exceptions. A failure to comply with certain covenants could permit the lenders to declare the 2021 Term Loan, and any then outstanding borrowings on the 2021 Revolving Credit Facility, together with accrued interest and fees thereon, to be immediately due and payable. The Company was in compliance with all financial covenants of the 2021 Credit Agreement at September 30, 2022. 2021 Term Loan Borrowings under the 2021 Term Loan bear interest at a variable rate, elected by the Company, equal to the Base Rate (as defined in the 2021 Credit Agreement) or the Adjusted Eurocurrency Rate (as defined in the 2021 Credit Agreement), plus, an initial margin based on the Company’s Consolidated First Lien Net Leverage Ratio (as defined by the 2021 Credit Agreement), which was 3.00% at September 30, 2022. Beginning in June 2022, the Company is required to make quarterly principal payments equal to 0.25% of the original principal, with the remainder due at maturity. Debt issuance costs of $7.6 million were included as a reduction of the debt balance on the condensed consolidated balance sheets and are amortized into interest expense over the contractual life of the loans using the effective interest method. Included in the debt issuance costs were $4.8 million incurred in connection with the 2021 Term Loan, and $2.8 million carried forward from the Company’s previous 2018 First Lien. The Company recognized $0.3 million and $1.6 million of amortization of debt issuance costs for the 2021 Term Loan during the three and nine months ended September 30, 2022, respectively. The effective interest rate on the 2021 Term Loan was 6.2% as of September 30, 2022. 2021 Revolving Credit Facility Borrowings under the 2021 Revolving Credit Facility bear interest, at the election of the Company, at a rate equal to the Base Rate (as defined in the 2021 Credit Agreement) or the Adjusted Eurocurrency Rate (as defined in the 2021 Credit Agreement), plus, in each case, the Applicable Rate (as defined in the 2021 Credit Agreement), which shall vary based on the Company’s Consolidated First Lien Net Leverage Ratio. In connection with the 2021 Revolving Credit Facility, the Company incurred $0.5 million in debt issuance costs. Expenses associated with the issuance of the revolving credit facility are presented in the accompanying condensed consolidated balance sheets in prepaid expenses and other current assets and other assets, and are amortized to interest expense over the life of the 2021 Revolving Credit Facility using the straight-line method. The remaining unamortized debt issuance costs were $0.4 million and $0.5 million as of September 30, 2022 and December 31, 2022, respectively. The 2021 Revolving Credit Facility also requires a quarterly commitment fee based on the Company’s consolidated first lien net leverage ratio. As of September 30, 2022, the applicable rate was 0.5%, which was applied against the $50.0 million unused revolving credit facility balance. Future Principal Payments Future principal payments of long-term debt as of September 30, 2022 were as follows (in thousands): Years ending December 31, 2022 (remaining three months) $ 1,087 2023 4,350 2024 4,350 2025 4,350 2026 4,350 Thereafter 414,338 Total $ 432,825

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Stock Repurchase Program In May 2022, the Company’s board of directors authorized a new stock repurchase program to acquire up to $75.0 million of the Company’s common stock, with no requirement to purchase any minimum number of shares. The manner, timing, and actual number of shares repurchased under the program will depend on a variety of factors, including price, working capital needs, general business and market conditions, regulatory requirements, and other investment opportunities. Shares may be repurchased through privately negotiated transactions, or open market purchases, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934. The repurchase program may be commenced, suspended, or terminated at any time by the Company at its discretion without prior notice.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-based Compensation 2021 Stock Option and Incentive Plan The 2021 Stock Option and Incentive Plan (the “2021 Plan”) was adopted by the board of directors and approved by the Company’s stockholders following the Corporate Conversion and became effective as of July 26, 2021. The 2021 Plan replaced both the Company’s 2019 Equity Option Plan (the “2019 Plan”) and the Project Angel Parent, LLC Equity Plan (the “2018 Plan”). Outstanding options to purchase Class B Units granted under the 2019 Plan were converted into options to purchase shares of common stock, and all outstanding Carried Equity Units granted under the 2018 Plan were converted into restricted stock awards (“RSAs”), both of which have been granted under the 2021 Plan. The Company had initially reserved 13,171,588 shares of its common stock for the issuance of awards under the 2021 Plan. The 2021 Plan provides that the number of shares reserved and available for issuance under the 2021 Plan will automatically increase on January 1, 2022 and each January 1 thereafter, by 5% of the outstanding number of shares of common stock on the immediately preceding December 31, or such lesser number of shares as determined by the Company’s compensation committee. The number of shares reserved under the 2021 Plan is subject to adjustment in the event of a stock split, stock dividend, or other change in the Company’s capitalization. The 2021 Plan provides flexibility to the Company’s compensation committee to use various equity-based incentive awards as compensation tools to motivate the Company’s workforce. The incentive awards that may be granted under the 2021 Plan include, but are not limited to, options to purchase common stock, stock appreciation rights, restricted shares of common stock, restricted stock units, and cash bonuses. Stock Options A summary of stock option activity during the nine months ended September 30, 2022 is as follows (in thousands, except options, price per option, and term amounts): Number of Options Weighted Average Exercise Price Weighted Average Remaining Contract Term Aggregate Intrinsic Value Outstanding – January 1, 2022 4,256,812 $ 13.05 8.44 $ 42,429 Granted 927,364 17.09 Exercised (29,909) 6.22 Forfeited (331,781) 21.04 Outstanding – September 30, 2022 4,822,486 $ 13.32 7.90 $ 26,811,786 Vested and expected to vest in the future at September 30, 2022 4,822,486 13.32 7.90 26,811,786 Exercisable at September 30, 2022 2,833,199 $ 8.56 7.15 $ 25,074,833 The total fair value of options that vested during the three months ended September 30, 2022 and 2021 was $4.9 million and $10.6 million, respectively, and for the nine months ended September 30, 2022 and 2021 was $6.6 million and $12.1 million, respectively. The total intrinsic value of options exercised during the three months ended September 30, 2022 and 2021 was $0.0 million and $4.2 million, respectively, and for the nine months ended September 30, 2022 and 2021 was $0.4 million and $4.2 million, respectively. The Company recognized approximately $2.1 million and $11.8 million in share-based compensation expense related to time-based and performance-based stock options for the three months ended September 30, 2022 and 2021, respectively, and $5.1 million and $12.8 million for the nine months ended September 30, 2022 and 2021, respectively. Included in the amounts of share-based compensation for the three and nine months ended September 30, 2021, is the acceleration of stock-based compensation expense in the amount of $10.3 million related to 500,000 options to purchase common stock, which became fully vested upon the completion of the Company’s IPO. During the three and nine months ended September 30, 2022 and 2021, performance-based options were probable of vesting and, therefore, were included as part of share-based compensation expense. As of September 30, 2022, there was approximately $19.1 million of unrecognized share-based compensation expense related to stock options, which is expected to be recognized over a weighted-average period of approximately 2.86 years. Restricted Stock Awards The number of restricted stock awards that vested during the three and nine months ended September 30, 2022 was 11,496 and 588,106, respectively. The liability balance as of September 30, 2022, related to the unvested RSAs was $0.0 million. As of September 30, 2022, the number of unvested RSAs amounted to 75,102. There were a total of 0 and 27,146 RSAs cancelled or forfeited during the three and nine months ended September 30, 2022, respectively. The Company recognized approximately $0.1 million and $0.2 million in share-based compensation expense related to the vesting of RSAs for the three and nine months ended September 30, 2022. The Company recognized $11.2 million and $11.5 million in share-based compensation expense related to the vesting of RSAs during the three and nine months ended September 30, 2021. Included in the amounts of share-based compensation for the three and nine months ended September 30, 2021, is the acceleration of stock-based compensation expense in the amount of $11.1 million related to 426,657 Carried Equity Units, which became fully vested upon the completion of the Company’s IPO. Share-based compensation expense related to the excess of fair value per unit on date of issuance over the $0.06 per share purchase price paid by the participants, has been recognized as additional compensation expense attributable to the participants. Restricted Stock Units A summary of restricted stock unit (“RSU”) activity during the nine months ended September 30, 2022, is as follows: Number of RSUs Weighted Average Grant Date Fair Value Non-vested – January 1, 2022 1,073,529 $ 25.76 Granted 2,708,097 17.94 Vested (341,461) 25.89 Forfeited (266,138) 21.42 Non-vested – September 30, 2022 3,174,027 $ 19.44 As of September 30, 2022, 3,174,027 RSUs are expected to vest. The Company recognized approximately $4.9 million and $11.0 million in share-based compensation expense related to RSUs for the three and nine months ended September 30, 2022, respectively. The Company recognized $2.3 million in share-based compensation expense related to RSUs for both the three and nine months ended September 30, 2021. As of September 30, 2022, there was approximately $54.5 million of unrecognized share-based compensation expense related to RSUs, which is expected to be recognized over a weighted-average period of approximately 3.26 years. Employee Stock Purchase Program As of September 30, 2022, the Company has issued 64,985 shares of common stock pursuant to the 2021 Employee Stock Purchase Plan under its employee stock purchase program (“ESPP”). As of September 30, 2022, there was approximately $0.1 million of unrecognized share-based compensation related to the ESPP that is expected to be recognized over the remaining term of the current offering period. The Company recognized $0.2 million and $0.5 million of share-based compensation expense related to the ESPP for the three and nine months ended September 30, 2022, respectively. Share-Based Compensation Share-based compensation for share-based awards granted to participants has been recorded in the condensed consolidated statements of operations for the three and nine months ended September 30, 2022 and 2021 as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Cost of revenues $ 1,352 $ 5,296 $ 3,567 $ 5,461 General and administrative 3,170 12,158 6,947 12,864 Research and development (1) 2,092 6,194 4,457 6,358 Sales and marketing 639 1,879 1,530 2,152 Total share-based compensation expense $ 7,253 $ 25,527 $ 16,501 $ 26,835 ______________ (1) Net of $0.1 million and $0.3 million additions to capitalized software on the Company’s condensed consolidated balance sheets during the three and nine months ended September 30, 2022, respectively, and $0.1 million during both the three and nine months ended September 30, 2021.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In accordance with applicable accounting guidance, the Company is required to use an estimated annual effective tax rate to compute its tax provision during an interim period. The Company’s provision for income taxes reflected an effective tax rate of approximately (44)% and (6)% for the three months ended September 30, 2022 and 2021, respectively, and 44% and (350)% for the nine months ended September 30, 2022 and 2021, respectively. During the three and nine months ended September 30, 2022, the Company’s effective tax rate differs from the U.S. federal statutory rate primarily due to R&D credits, state taxes, permanent unfavorable differences related to share-based compensation expense, transaction expenses, certain employee remuneration under section 162(m) of the Internal Revenue Code and other expected permanent differences. During the three and nine months ended September 30, 2021, the Company’s effective tax rate differs from the U.S. federal statutory rate as ASC 740 generally requires providing for income taxes during interim periods based on the estimated annual effective tax rate (“AETR”) for the full fiscal year. For the three and nine months ended September 30, 2021, the Company calculated its income tax provision as though the interim year to date period was an annual period, referred to herein as the discrete method. The Company believes that the application of the AETR method was impractical at the time, given that normal deviations in the projected pre-tax net income (loss) for the Company due to certain employee remuneration limited under section 162(m) of the Internal Revenue Code and certain employee share-based remuneration that the Company recognized due to the Company becoming a public issuer of its securities in the three months ended September 30, 2021. The Company has gross unrecognized tax benefits with respect to R&D credits of $2.3 million as of September 30, 2022 and $1.9 million as of December 31, 2021. There are no penalties or interest recorded on these liabilities as the credits have not yet been utilized.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has leased one property from a related party. Rental expense for this property totaled $0.2 million for both the three months ended September 30, 2022 and 2021, and $0.5 million for both the nine months ended September 30, 2022 and 2021. On May 31, 2018, the Company entered into an Advisory Services Agreement with Thoma Bravo, a private equity firm, that owns the majority of the Company through private equity funds managed by the firm. During the three and nine months ended September 30, 2021, the Company recorded $0.2 million and $1.2 million, respectively, in general and administrative expenses on the accompanying condensed consolidated statements of operations for management and advisory fees. The Advisory Services Agreement was terminated upon completion of the IPO.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Basic and diluted net income (loss) per share Numerator: Net income (loss) attributable to common stockholders $ (2,894) $ (24,226) $ 6,757 $ (27,727) Denominator: Weighted average common stock outstanding: Basic 80,659,320 71,697,083 80,353,399 58,495,073 Diluted 80,659,320 71,697,083 82,364,835 58,495,073 Net income (loss) per share: Basic $ (0.04) $ (0.34) $ 0.08 $ (0.47) Diluted (0.04) (0.34) 0.08 (0.47) The following outstanding potentially dilutive securities were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their impact would have been anti-dilutive for the periods presented: As of September 30, 2022 2021 Options to purchase common stock outstanding, unexercised 1,833,279 4,448,454 Restricted stock awards, unvested — 947,540 Restricted stock units, unvested 757,859 1,088,230 Purchase rights committed under the ESPP — — Total 2,591,138 6,484,224

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations Acquisition of StreetShares On April 1, 2022, the Company acquired all of the outstanding stock of StreetShares, Inc. (“StreetShares”) for cash consideration of $28.0 million, $30.0 million in escrow for a contingent earnout that expires April 1, 2023, subject to adjustment as defined in the purchase agreement, and $1.6 million in acquisition costs. The $30.0 million is considered contingent consideration and accounted for separate from the business combination accounting. The acquisition was funded by the Company’s available cash. StreetShares is based out of Reston, VA, and is a financial technology company that provides digital small business lending technology to banks and credit unions. The acquisition is accounted for using the acquisition method of accounting whereby the acquired assets and liabilities are recorded at their respective fair values and added to those of the Company, including an amount for goodwill representing the difference between the acquisition consideration and the fair value of the identifiable net assets. Results of operations of StreetShares have been included in the operations of the Company beginning with the closing date of the acquisition. The acquisition was deemed immaterial to the Company’s operating results as a whole. The table below summarizes the allocation of the purchase price of StreetShares based on the estimated fair value of the assets acquired and the liabilities assumed (in thousands): Assets acquired: Cash and cash equivalents $ 1,580 Restricted cash (1) 3,265 Accounts receivable 157 Prepaid expenses and other current assets 561 Property and equipment 142 Right of use assets 613 Deferred tax asset 11,624 Goodwill 6,755 Intangible assets 12,400 Other assets 83 Total assets acquired 37,180 Liabilities assumed: Accounts payable 368 Accrued compensation and benefits 3,585 Accrued expenses 738 Contingent earnout 162 Notes payable to Regulation A+ investors (1) 3,265 Deferred revenue 854 Other long-term liabilities 225 Total liabilities assumed 9,197 Fair value of assets acquired and liabilities assumed $ 27,983 ______________ (1) Prior to the acquisition, StreetShares was subject to Regulation A+ of the Securities and Exchange Commission and had offered StreetShares notes to investors. The notes were scheduled to mature during various dates through 2023. Subsequent to the acquisition, during April 2022, the Company used the $3.3 million restricted cash balance to repay the Regulation A+ payable in full. During the three months ended September 30, 2022, the Company completed measurement period adjustments related to the fair value of identifiable intangible assets and final working capital adjustment, resulting in a reduction to the fair values of customer relationships and developed technology by $1.9 million and $1.5 million, respectively, an increase in deferred tax assets of $1.1 million, and an increase in goodwill of $2.3 million. The final working capital adjustment amounted to approximately $0.1 million being paid by the Company to the sellers of StreetShares. The working capital adjustment was settled in September 2022 and resulted in a corresponding adjustment to prepaid expenses and other current assets. As of September 30, 2022, the Company is still finalizing the provisional purchase price allocation related to income tax effects. The goodwill recognized is attributable to the Company’s expected acceleration of its small business lending service capabilities. The StreetShares acquisition is treated as a stock purchase for income tax purposes; therefore, of the goodwill recorded, none is considered deductible for income tax purposes. The fair value of the separately identifiable finite-lived intangible assets acquired and estimated useful lives are as follows (in thousands, except years): Estimated Fair Values Weighted Average Amortization Life (years) Customer relationships $ 500 5 Developed technology 11,800 10 Trademarks 100 2 Total acquisition-related intangible assets $ 12,400 9 The fair value estimates for intangible assets include significant assumptions in the prospective financial information, such as revenue growth and discount rates. The fair value of the intangible assets was primarily based on the income approach using various methods such as the relief from royalty, with-or-without, and excess earnings methods. Goodwill Rollforward A rollforward of the Company’s goodwill balance from January 1, 2022 to September 30, 2022 is as follows: Nine Months Ended September 30, 2022 Beginning balance $ 564,799 StreetShares acquisition 6,755 Ending balance $ 571,554 Contingent Earnout Liability The purchase price for StreetShares includes a potential earnout that will be measured over 12 months from April 2, 2022, through April 1, 2023, based on performance factors outlined in the acquisition agreement. The contingent earnout liability is recorded at estimated fair value each reporting period using a Monte Carlo simulation based on the forecasted operating results over the earnout period, estimates for market volatility, discount rates, and the earnout formula specified in the acquisition agreement. As the fair value uses significant unobservable inputs, it is considered a Level 3 fair value measurement.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Acquisition of OpenClose On November 4, 2022, the Company acquired all of the outstanding stock of Beanstalk Networks, L.L.C. doing business as OpenClose (“OpenClose”) for cash consideration of $65.0 million, which includes approximately $1.4 million in acquisition costs. The acquisition was funded by the Company’s available cash. OpenClose is based out of West Palm Beach, Florida, and provides mortgage lending technology, with a particular focus on supporting depository institutions. The acquisition will be accounted for using the acquisition method of accounting whereby the acquired assets and liabilities will be recorded at their respective fair values and added to those of the Company, including an amount for goodwill representing the difference between the acquisition consideration and the fair value of the identifiable net assets. Results of operations of OpenClose will be included in the operations of the Company beginning with the closing date of the acquisition. As of the date of issuance of these condensed consolidated financial statements, the initial acquisition and disclosures under ASC 805, Business Combinations, have not been prepared as the Company has not obtained all of the information necessary, nor has there been sufficient time, to complete the related activities.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation/Unaudited Interim Condensed Consolidated Financial Information	Basis of Presentation The unaudited condensed consolidated financial statements of the Company have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany balances and transactions have been eliminated in consolidation. Unaudited Condensed Consolidated Financial Information In the Company's opinion, the unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, consisting of normal, recurring adjustments, necessary for a fair presentation. Certain information and disclosures normally included in the notes to the annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted from these unaudited condensed consolidated financial statements pursuant to the rules and regulations of the SEC. Accordingly, these unaudited condensed consolidated financial statements and accompanying notes should be read in conjunction with the audited consolidated financial statements and accompanying notes in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (“Annual Report”). The results of operations for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any other period.
Use of Estimates	Use of Estimates The preparation of the accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the reported amounts of revenues and expenses. Significant items subject to such estimates include revenue recognition including determining the nature and timing of satisfaction of performance obligations and variable consideration; share-based compensation; the fair value of acquired intangibles; the capitalization of software development costs; the useful lives of long-lived intangible assets; impairment of goodwill and long-lived assets; and income taxes. In accordance with GAAP, management bases its estimates on historical experience and on various other assumptions that management believes are reasonable under the circumstances. Management regularly evaluates its estimates and assumptions using historical experience and other factors; however, actual results could differ significantly from those estimates.
Leases	Leases Leases arise from contractual obligations that convey the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. At the inception of the contract, the Company determines if an arrangement contains a lease based on whether there is an identified asset and whether the Company controls the use of the identified asset. The Company also determines the classification of that lease, between financing and operating, at the lease commencement date. The Company accounts for and allocates consideration to the lease and non-lease components as a single lease component. A right-of-use (“ROU”) asset represents the Company’s right to use an underlying asset, and a lease liability represents the Company’s obligation to make payments during the lease term. ROU assets are recorded and recognized at commencement for the lease liability amount, adjusted for initial direct costs incurred and lease incentives received, and adjusted for prepaid or accrued lease payments. Lease liabilities are recorded at the present value of the future lease payments over the lease term at commencement. The discount rate used to determine the present value is the incremental borrowing rate, unless the interest rate implicit in the lease is readily determinable. As the implicit rate for the operating leases is generally not determinable, the Company uses an incremental borrowing rate as the discount rate at the lease commencement date to determine the present value of lease payments. The Company determines the discount rate of the leases by considering various factors, such as the credit rating, interest rates of similar debt instruments of entities with comparable credit ratings, jurisdictions, and the lease term. The Company’s operating leases typically include non-lease components such as common-area maintenance costs, utilities, and other maintenance costs. For real estate leases, the Company has elected to include non-lease components with lease payments for the purpose of calculating lease right-of-use assets and liabilities to the extent that they are fixed. Non-lease components that are not fixed are expensed as incurred as variable lease payments. The Company’s lease terms may include options to extend or terminate the lease. The Company generally uses the base, non-cancelable, lease term when recognizing the lease assets and liabilities, unless it is reasonably certain that the Company will exercise those options. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company’s ROU assets are included in right of use assets and the current and non-current portions of the lease liabilities are included in accrued liabilities and other long-term liabilities, respectively, on the condensed consolidated balance sheets. The Company does not record leases with terms of 12 months or less on the condensed consolidated balance sheets. Lease expense is recognized on a straight-line basis over the expected lease term.
Recent Accounting Pronouncements Adopted And Not Yet Adopted	Accounting Pronouncements Recently Adopted The Company is an emerging growth company as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) and has elected to use the extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies. ASU 2016-02, “Leases (Topic 842)” The new standard establishes a right-of-use model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the condensed consolidated statements of operations. The new standard provides for a modified retrospective approach which requires recognition at the beginning of the earliest comparative period presented of leases that exist at that date, as well as adjusting equity at the beginning of the earliest comparative period presented as if the new standard had always been applied. In July 2018, the FASB issued ASU 2018-11, which provides an additional transition method. Under the additional transition method, an entity initially applies the new lease guidance at the adoption date (rather than at the beginning of the earliest period presented). Therefore, an entity which elects the additional transition method would apply Topic 840 in the comparative periods and recognize the effects of applying Topic 842 as a cumulative adjustment to retained earnings as of the adoption date. If an entity elects the new transition method, it is required to provide the Topic 840 disclosures for all prior periods presented that remain under the legacy lease guidance. The Company adopted the new standard on January 1, 2022, utilizing the optional transition approach to not apply Topic 842 in the comparative periods presented. Additionally, the Company elected the package of practical expedients to not (1) reassess whether any expired or existing contracts are considered or contain leases; (2) reassess the lease classification for any expired or existing leases; and (3) reassess the initial direct costs for any existing leases. The most significant impact upon adoption was related to its long-term office space leases that resulted in the recognition of right of use assets and related liabilities of approximately $2.6 million and $3.4 million, respectively, on the Company’s condensed consolidated balance sheets. ASU 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” The amendments in this ASU require that an acquirer recognizes and measures contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 rather than at fair value. The ASU is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. Early adoption is permitted. The Company adopted the new standard on January 1, 2022, prospectively, for business combinations that occur subsequent to the adoption date. The adoption did not have a material impact on the Company’s condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” Rather than generally recognizing credit losses when it is probable that the loss has been incurred, the revised guidance requires companies to recognize an allowance for credit losses for the difference between the amortized cost basis of a financial instrument and the amount of amortized cost that the company expects to collect over the instrument’s contractual life. ASU 2016-13 is effective for the Company for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years; early adoption is permitted. The Company intends to adopt the new standard as of January 1, 2023 as a cumulative effect adjustment to retained earnings. The Company does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements and disclosures . ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” The standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 related to the approach for intraperiod tax allocation and the recognition of deferred tax liabilities for outside basis differences and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard also improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. For the Company, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the amendments is permitted. The Company intends to adopt the new standard as of January 1, 2023 and does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements and disclosures . ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” ASU 2020-04 provides optional guidance for a limited time to ease the potential accounting burden associated with transitioning away from reference rates, such as the London Inter-Bank Offered Rate (LIBOR), which regulators in the United Kingdom are currently phasing out. The expedients and exceptions provided by ASU 2020-04 are for the application of U.S. GAAP to contracts, hedging relationships, and other transactions affected by the rate reform, and will not be available after December 31, 2022, other than for certain hedging relationships entered into before December 31, 2022. Companies can apply the ASU immediately. However, the guidance will only be available for a limited time. The Company is currently evaluating the impact of this guidance on its condensed consolidated financial statements and related disclosures.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of disaggregation of revenue	The following table disaggregates the Company’s net revenues by solution type (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Lending Software Solutions $ 52,414 $ 44,657 $ 153,249 $ 133,034 Data Verification Software Solutions 19,340 22,710 64,246 70,618 Total $ 71,754 $ 67,367 $ 217,495 $ 203,652 The following table disaggregates the Company’s net revenues by major source (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Subscription fees $ 61,861 $ 58,988 $ 188,860 $ 179,732 Professional services 7,293 5,706 21,070 16,812 Other 2,600 2,673 7,565 7,108 Total revenues $ 71,754 $ 67,367 $ 217,495 $ 203,652
Schedule of changes in the deferred revenue	The changes in the Company’s deferred revenue as of September 30, 2022 and 2021 were as follows (in thousands): Nine Months Ended September 30, 2022 2021 Deferred revenue, beginning balance $ 14,707 $ 10,873 Billing of transaction consideration 225,821 213,668 Revenue recognized (217,495) (203,652) Deferred revenue, ending balance $ 23,033 $ 20,889 Deferred revenue, current $ 22,655 $ 20,889 Long-term deferred revenue 378 — Total deferred revenue $ 23,033 $ 20,889
Schedule of changes in contract cost assets	The following table represents the changes in contract cost assets (in thousands): Nine Months Ended September 30, 2022 2021 Beginning balance $ 5,835 $ 3,207 Additions 2,114 2,832 Amortization (1,856) (1,014) Ending balance $ 6,093 $ 5,025 Contract cost assets, current $ 2,835 $ 2,004 Contract cost assets, noncurrent 3,258 3,021 Total deferred contract cost assets $ 6,093 $ 5,025

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of prepaid expenses and other current assets	Prepaid expenses and other current assets consisted of the following (in thousands): As of September 30, 2022 As of December 31, 2021 Prepaid expenses $ 8,309 $ 6,752 Contract cost assets – current 2,835 2,402 Income tax receivable 989 — Others 409 244 Total prepaid expenses and other current assets $ 12,542 $ 9,398
Summary of property and equipment, net	Property and equipment, net consisted of the following (in thousands): As of September 30, 2022 As of December 31, 2021 Computer equipment and software $ 8,795 $ 7,995 Leasehold improvements 3,015 2,994 Office equipment and furniture 1,250 1,378 Total 13,060 12,367 Less: Accumulated depreciation (8,016) (6,378) Property and equipment, net $ 5,044 $ 5,989
Summary of intangible assets, net and estimated useful lives and weighted average amortization periods	Intangible assets, net consisted of the following (in thousands): As of September 30, 2022 Gross Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 329,100 $ (123,870) $ 205,230 Developed technology 86,600 (37,375) 49,225 Trademarks 24,275 (9,502) 14,773 Non-competition agreements 600 (450) 150 Capitalized software 17,481 (7,311) 10,170 Total intangible assets, net $ 458,056 $ (178,508) $ 279,548 As of December 31, 2021 Gross Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 328,600 $ (99,320) $ 229,280 Developed technology 74,800 (29,207) 45,593 Trademarks 24,175 (7,474) 16,701 Non-competition agreements 600 (225) 375 Capitalized software 10,902 (4,254) 6,648 Total intangible assets, net $ 439,077 $ (140,480) $ 298,597 The weighted average remaining useful lives for intangible assets at September 30, 2022 were as follows: Weighted Average Remaining Useful Life Customer relationships 6 years Developed technology 5 years Trademarks 6 years Non-competition agreements 1 year Capitalized software 3 years
Summary of amortization expense related to intangible assets	Amortization expense related to intangible assets was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Cost of revenues $ 4,003 $ 3,219 $ 11,287 $ 9,190 General and administrative expense 8,790 8,906 26,741 26,721 Total amortization expense $ 12,793 $ 12,125 $ 38,028 $ 35,911
Schedule of estimated future amortization of intangible assets	The estimated future amortization of intangible assets as of September 30, 2022 was as follows (in thousands): Years ending December 31, 2022 (remaining three months) $ 13,003 2023 50,531 2024 48,584 2025 42,750 2026 38,794 Thereafter 85,886 Total amortization expense $ 279,548
Summary of accrued liabilities	Accrued liabilities consisted of the following (in thousands): As of As of Accrued payroll and payroll-related expenses $ 9,056 $ 8,522 Accrued costs of revenues 6,135 2,217 Accrued operating costs 3,789 2,099 Accrued bonuses 4,174 6,708 Sales tax liability from acquisitions 2,939 2,939 Lease liability – current 1,401 233 Other accrued expenses 2,313 1,949 Total accrued liabilities $ 29,807 $ 24,667

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Future minimum payments under non-cancelable purchase commitments	Future minimum payments under the Company’s non-cancelable purchase commitments as of September 30, 2022 are as follows (in thousands): Contractual Commitments Years ending December 31, 2022 (remaining three months) $ — 2023 375 2024 395 2025 7,911 Total $ 8,681

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Summary of rent expense (post ASC 842 adoption)	Rent expense, gross of sublease income, has been recorded in the condensed consolidated statements of operations for the three and nine months ended September 30, 2022 (in thousands): Three Months Ended Nine Months Ended Cost of revenues $ 201 $ 507 General and administrative 23 187 Research and development 170 387 Sales and marketing 66 163 Total rent expense $ 460 $ 1,244 The following table presents supplemental cash flow information about the Company’s leases (in thousands): Nine Months Ended Cash paid for amounts included in the measurement of lease liabilities $ 1,563 Operating lease assets obtained in exchange for new operating lease liabilities 1,082
Supplemental balance sheet information about the Company's leases	The following table presents supplemental balance sheet information about the Company’s leases (in thousands): As of Operating lease ROU assets $ 2,638 Operating lease liabilities, current $ 1,401 Noncurrent operating lease liabilities 1,511 Total operating lease liabilities $ 2,912
Summary of future minimum lease payments (post ASC 842 adoption)	As of September 30, 2022, remaining maturities of lease liabilities were as follows (in thousands): Related Party Third Party Total Years Ending December 31, 2022 (remaining three months) $ 219 $ 226 $ 445 2023 — 1,259 1,259 2024 — 843 843 2025 — 321 321 2026 — 244 244 Total operating lease payments (1) 219 2,893 3,112 Less: imputed interest (1) (199) (200) Total operating lease liabilities $ 218 $ 2,694 $ 2,912 ______________ (1) Presented gross of sublease income. The Company expects to receive sublease income of approximately $0.1 million in the remainder of the year ended December 31, 2022, $0.3 million in 2023, and $0.2 million thereafter.
Summary of future minimum lease payments (pre ASC 842 adoption)	As of December 31, 2021, prior to the adoption of Topic 842, the aggregate future non-cancelable minimum rental payments and expected sublease receipts were as follows (in thousands): Related Party Third Party Sublease Receipts Total Years Ending December 31, 2022 $ 875 $ 736 $ (293) $ 1,318 2023 — 753 — 753 2024 — 722 — 722 2025 — 319 — 319 2026 — 244 — 244 Thereafter — — — — Total future minimum lease payments $ 875 $ 2,774 $ (293) $ 3,356
Summary of rent expense (pre ASC 842 adoption)	Rent expense for the three and nine months ended September 30, 2021 was as follows (in thousands): Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Cost of revenues $ 156 $ 608 General and administrative 41 153 Research and development 100 393 Sales and marketing 44 174 Total rent expense $ 341 $ 1,328

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following (in thousands): As of September 30, 2022 As of December 31, 2021 2021 Term loan $ 432,825 $ 435,000 Debt issuance costs (5,859) (7,490) Total debt, net 426,966 427,510 Less: Current portion of long-term debt 2021 Term loan 4,350 3,263 Debt issuance costs (983) (1,124) Total current portion of long-term debt, net 3,367 2,139 Total non-current portion of long-term debt, net $ 423,599 $ 425,371
Summary of future principal payments of long-term debt	Future principal payments of long-term debt as of September 30, 2022 were as follows (in thousands): Years ending December 31, 2022 (remaining three months) $ 1,087 2023 4,350 2024 4,350 2025 4,350 2026 4,350 Thereafter 414,338 Total $ 432,825

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of stock option activity	A summary of stock option activity during the nine months ended September 30, 2022 is as follows (in thousands, except options, price per option, and term amounts): Number of Options Weighted Average Exercise Price Weighted Average Remaining Contract Term Aggregate Intrinsic Value Outstanding – January 1, 2022 4,256,812 $ 13.05 8.44 $ 42,429 Granted 927,364 17.09 Exercised (29,909) 6.22 Forfeited (331,781) 21.04 Outstanding – September 30, 2022 4,822,486 $ 13.32 7.90 $ 26,811,786 Vested and expected to vest in the future at September 30, 2022 4,822,486 13.32 7.90 26,811,786 Exercisable at September 30, 2022 2,833,199 $ 8.56 7.15 $ 25,074,833
Schedule of RSU activity	A summary of restricted stock unit (“RSU”) activity during the nine months ended September 30, 2022, is as follows: Number of RSUs Weighted Average Grant Date Fair Value Non-vested – January 1, 2022 1,073,529 $ 25.76 Granted 2,708,097 17.94 Vested (341,461) 25.89 Forfeited (266,138) 21.42 Non-vested – September 30, 2022 3,174,027 $ 19.44
Summary of stock-based compensation	Share-based compensation for share-based awards granted to participants has been recorded in the condensed consolidated statements of operations for the three and nine months ended September 30, 2022 and 2021 as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Cost of revenues $ 1,352 $ 5,296 $ 3,567 $ 5,461 General and administrative 3,170 12,158 6,947 12,864 Research and development (1) 2,092 6,194 4,457 6,358 Sales and marketing 639 1,879 1,530 2,152 Total share-based compensation expense $ 7,253 $ 25,527 $ 16,501 $ 26,835 ______________ (1) Net of $0.1 million and $0.3 million additions to capitalized software on the Company’s condensed consolidated balance sheets during the three and nine months ended September 30, 2022, respectively, and $0.1 million during both the three and nine months ended September 30, 2021.

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted Net Income (Loss) Per Share	The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Basic and diluted net income (loss) per share Numerator: Net income (loss) attributable to common stockholders $ (2,894) $ (24,226) $ 6,757 $ (27,727) Denominator: Weighted average common stock outstanding: Basic 80,659,320 71,697,083 80,353,399 58,495,073 Diluted 80,659,320 71,697,083 82,364,835 58,495,073 Net income (loss) per share: Basic $ (0.04) $ (0.34) $ 0.08 $ (0.47) Diluted (0.04) (0.34) 0.08 (0.47)
Summary of Outstanding Potentially Dilutive Securities were Excluded from the Calculation of Diluted Net Loss Per Common Unit Attributable to Common Unitholders	The following outstanding potentially dilutive securities were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their impact would have been anti-dilutive for the periods presented: As of September 30, 2022 2021 Options to purchase common stock outstanding, unexercised 1,833,279 4,448,454 Restricted stock awards, unvested — 947,540 Restricted stock units, unvested 757,859 1,088,230 Purchase rights committed under the ESPP — — Total 2,591,138 6,484,224

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Summary of the Allocation of the Purchase Price	The table below summarizes the allocation of the purchase price of StreetShares based on the estimated fair value of the assets acquired and the liabilities assumed (in thousands): Assets acquired: Cash and cash equivalents $ 1,580 Restricted cash (1) 3,265 Accounts receivable 157 Prepaid expenses and other current assets 561 Property and equipment 142 Right of use assets 613 Deferred tax asset 11,624 Goodwill 6,755 Intangible assets 12,400 Other assets 83 Total assets acquired 37,180 Liabilities assumed: Accounts payable 368 Accrued compensation and benefits 3,585 Accrued expenses 738 Contingent earnout 162 Notes payable to Regulation A+ investors (1) 3,265 Deferred revenue 854 Other long-term liabilities 225 Total liabilities assumed 9,197 Fair value of assets acquired and liabilities assumed $ 27,983 ______________
Summary of Fair Value of the Separately Identifiable Finite-Lived Intangible Assets Acquired and Estimated Useful Lives	The fair value of the separately identifiable finite-lived intangible assets acquired and estimated useful lives are as follows (in thousands, except years): Estimated Fair Values Weighted Average Amortization Life (years) Customer relationships $ 500 5 Developed technology 11,800 10 Trademarks 100 2 Total acquisition-related intangible assets $ 12,400 9
Summary of Company's Goodwill	A rollforward of the Company’s goodwill balance from January 1, 2022 to September 30, 2022 is as follows: Nine Months Ended September 30, 2022 Beginning balance $ 564,799 StreetShares acquisition 6,755 Ending balance $ 571,554

Organization and Description _2

Organization and Description of Business (Details)					9 Months Ended
	Aug. 26, 2021 shares	Jul. 30, 2021 USD ($) $ / shares shares	Jul. 27, 2021 USD ($) $ / shares shares	Jul. 16, 2021	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($)	Jul. 28, 2021 shares
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Conversion price of stock (in dollars per share) | $ / shares			$ 25.50
Temporary equity future value | $			$ 1,000
Temporary equity compound interest rate			9%
Shares that remained subject to future vesting (in shares)			1,533,763
Conversion ratio			1
Sale of stock, number of shares issued in transaction (in shares)		13,200,000
Proceeds from issuance initial public offering | $					$ 0	$ 247,227,000
Payment of stock issuance costs | $					$ 0	$ 4,435,000
Stock shares tendered for sale by the existing stockholders (in shares)	1,200,000	3,200,000
Number of days granted to underwriters to purchase additional shares of common stock		30 days
Stock shares offered but not yet tendered by the existing stockholders (in shares)		2,000,000
Stock split ratio				0.5
Common units, units outstanding (in shares)							0
IPO
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		10,000,000
Sale of stock issue price per share (in dollars per share) | $ / shares		$ 26
Proceeds from issuance initial public offering | $		$ 242,100,000
Payment of stock issuance costs | $		$ 17,900,000
Capital Unit, Class A
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Temporary equity stock shares converted into permanent equity (in shares)			16,607,235
Preferred units outstanding (in shares)							0
Capital Unit, Class B
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Temporary equity stock shares converted into permanent equity (in shares)			53,646,668
Shares that remained subject to future vesting (in shares)					75,102

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Right of use assets	$ 2,638,000	$ 2,600,000	$ 0
Total operating lease liabilities	2,912,000	$ 3,400,000
Impairment of right of use assets	$ 0

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue by Solution Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues, net	$ 71,754	$ 67,367	$ 217,495	$ 203,652
Lending Software Solutions
Disaggregation of Revenue [Line Items]
Revenues, net	52,414	44,657	153,249	133,034
Data Verification Software Solutions
Disaggregation of Revenue [Line Items]
Revenues, net	$ 19,340	$ 22,710	$ 64,246	$ 70,618

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Allowance for doubtful accounts	$ 0.2		$ 0.2		$ 0.2
Lending Software Solutions
Segment Reporting Information [Line Items]
Concentration risk	73%	66%	70%	65%
Data Verification Software Solutions
Segment Reporting Information [Line Items]
Concentration risk	27%	34%	30%	35%

Revenue Recognition - Disaggr_2

Revenue Recognition - Disaggregation of Revenue by Major Source (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues, net	$ 71,754	$ 67,367	$ 217,495	$ 203,652
Subscription fees
Disaggregation of Revenue [Line Items]
Revenues, net	61,861	58,988	188,860	179,732
Professional services
Disaggregation of Revenue [Line Items]
Revenues, net	7,293	5,706	21,070	16,812
Other
Disaggregation of Revenue [Line Items]
Revenues, net	$ 2,600	$ 2,673	$ 7,565	$ 7,108

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Contract With Customer, Liability [Roll Forward]
Deferred revenue, beginning balance	$ 14,707	$ 10,873
Billing of transaction consideration	225,821	213,668
Revenue recognized	(217,495)	(203,652)
Deferred revenue, ending balance	23,033	20,889
Deferred revenue, current	22,655	20,889
Long-term deferred revenue	378	0	$ 0
Total deferred revenue	$ 23,033	$ 20,889

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Changes in Contract Cost Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Capitalized Contract Cost [Roll Forward]
Beginning balance	$ 5,835	$ 3,207
Additions	2,114	2,832
Amortization	(1,856)	(1,014)
Ending balance	6,093	5,025
Contract cost assets – current	2,835	2,004	$ 2,402
Contract cost assets, noncurrent	3,258	3,021
Total deferred contract cost assets	$ 6,093	$ 5,025	$ 5,835

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 8,309	$ 6,752
Contract cost assets – current	2,835	2,402	$ 2,004
Income tax receivable	989	0
Others	409	244
Total prepaid expenses and other current assets	$ 12,542	$ 9,398

Balance Sheet Components - Su_2

Balance Sheet Components - Summary of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 13,060	$ 12,367
Less: Accumulated depreciation	(8,016)	(6,378)
Property and equipment, net	5,044	5,989
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	8,795	7,995
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	3,015	2,994
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 1,250	$ 1,378

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Depreciation	$ 600	$ 600	$ 1,700	$ 1,700
Loss on disposal of fixed assets			164	524
Office equipment and furniture
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Loss on disposal of fixed assets	$ 0	$ 300	$ 200	$ 500

Balance Sheet Components - Su_3

Balance Sheet Components - Summary of Intangible Assets, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross amount	$ 458,056	$ 439,077
Intangible assets, accumulated amortization	(178,508)	(140,480)
Total amortization expense	279,548	298,597
Capitalized computer software, gross	17,481	10,902
Capitalized computer software, accumulated amortization	(7,311)	(4,254)
Capitalized computer software, net carrying amount	10,170	6,648
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross amount	329,100	328,600
Intangible assets, accumulated amortization	(123,870)	(99,320)
Total amortization expense	205,230	229,280
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross amount	86,600	74,800
Intangible assets, accumulated amortization	(37,375)	(29,207)
Total amortization expense	49,225	45,593
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross amount	24,275	24,175
Intangible assets, accumulated amortization	(9,502)	(7,474)
Total amortization expense	14,773	16,701
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross amount	600	600
Intangible assets, accumulated amortization	(450)	(225)
Total amortization expense	$ 150	$ 375

Balance Sheet Components - Su_4

Balance Sheet Components - Summary of Estimated Useful Lives and Weighted Average Amortization Periods for Intangible Assets (Detail)	9 Months Ended
	Sep. 30, 2022
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	6 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	5 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	6 years
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	1 year
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	3 years

Balance Sheet Components - Su_5

Balance Sheet Components - Summary of amortization expense related to intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 12,793	$ 12,125	$ 38,028	$ 35,911
Cost of revenues
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	4,003	3,219	11,287	9,190
General and administrative expense
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 8,790	$ 8,906	$ 26,741	$ 26,721

Balance Sheet Components - Su_6

Balance Sheet Components - Summary of Estimated Future Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
2022 (remaining three months)	$ 13,003
2023	50,531
2024	48,584
2025	42,750
2026	38,794
Thereafter	85,886
Total amortization expense	$ 279,548	$ 298,597

Balance Sheet Components - Su_7

Balance Sheet Components - Summary of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued payroll and payroll-related expenses	$ 9,056	$ 8,522
Accrued costs of revenues	6,135	2,217
Accrued operating costs	3,789	2,099
Accrued bonuses	4,174	6,708
Sales tax liability from acquisitions	2,939	2,939
Lease liability – current	1,401	233
Other accrued expenses	2,313	1,949
Total accrued liabilities	$ 29,807	$ 24,667

Commitments and Contingencies -

Commitments and Contingencies - Future Minimum Payments Under Non-Cancelable Purchase Commitments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022 (remaining three months)	$ 0
2023	375
2024	395
2025	7,911
Total future minimum payments under non-cancelable purchase commitments	$ 8,681

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2021
Other Commitments [Line Items]
Weighted average remaining lease term		3 years		3 years
Weighted average discount rate		5.70%		5.70%
Monthly payments				$ 0.1	$ 0.1
Sublease income		$ 0.1		0.3
Sublease rental income			$ 0.1		$ 0.2
Loss on disposal of assets				$ 0.1
Operating leases, termination liability								$ 0.2
Forecast
Other Commitments [Line Items]
Sublease income	$ 0.1					$ 0.2	$ 0.3

Leases - Summary of Rent Expens

Leases - Summary of Rent Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule Of Rent Expense [Line Items]
Rent expense	$ 460		$ 1,244
Rent expense		$ 341		$ 1,328
Cost of revenues
Schedule Of Rent Expense [Line Items]
Rent expense	201		507
Rent expense		156		608
General and administrative expense
Schedule Of Rent Expense [Line Items]
Rent expense	23		187
Rent expense		41		153
Research and development
Schedule Of Rent Expense [Line Items]
Rent expense	170		387
Rent expense		100		393
Sales and marketing
Schedule Of Rent Expense [Line Items]
Rent expense	$ 66		$ 163
Rent expense		$ 44		$ 174

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information About the Company's Leases (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 1,563
Operating lease assets obtained in exchange for new operating lease liabilities	$ 1,082

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information About The Company's Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease ROU assets	$ 2,638	$ 2,600	$ 0
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities
Lease liability – current	$ 1,401		$ 233
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities
Noncurrent operating lease liabilities	$ 1,511
Total operating lease liabilities	$ 2,912	$ 3,400

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
2022 (remaining three months)	$ 445
2023	1,259
2024	843
2025	321
2026	244
Total operating lease payments	3,112
Less: imputed interest	(200)
Total operating lease liabilities	2,912	$ 3,400
2022			$ 1,318
2023			753
2024			722
2025			319
2026			244
Thereafter			0
Total future minimum lease payments			3,356
Sublease Receipts			(293)
Related Party
Lessee, Lease, Description [Line Items]
2022 (remaining three months)	219
2023	0
2024	0
2025	0
2026	0
Total operating lease payments	219
Less: imputed interest	(1)
Total operating lease liabilities	218
2022			875
2023			0
2024			0
2025			0
2026			0
Thereafter			0
Total future minimum lease payments			875
Third Party
Lessee, Lease, Description [Line Items]
2022 (remaining three months)	226
2023	1,259
2024	843
2025	321
2026	244
Total operating lease payments	2,893
Less: imputed interest	(199)
Total operating lease liabilities	$ 2,694
2022			736
2023			753
2024			722
2025			319
2026			244
Thereafter			0
Total future minimum lease payments			$ 2,774

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2021 Term loan	$ 432,825	$ 435,000
Debt issuance costs	(5,859)	(7,490)
Total debt, net	426,966	427,510
Current portion of long term debt	3,367	2,139
Debt issuance costs	(983)	(1,124)
Total non-current portion of long-term debt, net	423,599	425,371
Secured Debt | 2021 Term Loan
Debt Instrument [Line Items]
Current portion of long term debt	$ 4,350	$ 3,263

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Nov. 10, 2021
Debt Instrument [Line Items]
Amortization of financing costs	$ 300	$ 700	$ 1,705	$ 2,551
Interest expense	6,600	$ 6,400	14,900	$ 24,500
Debt issuance costs, gross	7,600		7,600
Unamortized debt issuance costs	400		400		$ 500
2021 Term Loan
Debt Instrument [Line Items]
Amortization of financing costs	$ 300		$ 1,600
Percent of original principal	0.25%		0.25%
Debt issuance costs, gross						$ 4,800
Interest rate, effective	6.20%		6.20%
2021 Term Loan | Base Rate | Variable Rate Component One
Debt Instrument [Line Items]
Basis spread on variable rate			3%
2021 Term Loan | Adjusted Eurocurrency Rate | Variable Rate Component Two
Debt Instrument [Line Items]
Basis spread on variable rate			3%
2021 Term Loan | Secured Debt
Debt Instrument [Line Items]
Term loan						435,000
2021 Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs, gross						500
Commitment fee rate			0.50%
2021 Revolving Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Revolving credit facility, principal amount						10,000
2021 Revolving Credit Facility | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, principal amount						50,000
Unused revolving credit facility balance	$ 50,000		$ 50,000
First Lien
Debt Instrument [Line Items]
Debt issuance costs, gross						$ 2,800

Long-Term Debt - Summary of Fut

Long-Term Debt - Summary of Future Principal Payments of Long-term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2022 (remaining three months)	$ 1,087
2023	4,350
2024	4,350
2025	4,350
2026	4,350
Thereafter	414,338
Total	$ 432,825	$ 435,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2021	Sep. 30, 2022	May 31, 2022
Equity [Abstract]
Stock repurchase program authorized amount					$ 75,000,000
Stock repurchased (in shares)	4,403			16,703
Stock repurchased	$ 69,000	$ 193,000	$ 1,887,000	$ 300,000
Stock remaining for repurchase under repurchase program	$ 74,700,000			$ 74,700,000

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Jul. 26, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Jul. 27, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of options vested		$ 4,900	$ 10,600	$ 6,600	$ 12,100
Intrinsic value of options exercised		0	4,200	400	4,200
Total share-based compensation expense		7,253	25,527	16,501	26,835
Unrecognized stock-based compensation expense related to stock options		$ 19,100		$ 19,100
Shares that remained subject to future vesting (in shares)							1,533,763
Unvested (in shares)		3,174,027		3,174,027
Issuance of common stock through employee purchase plan (in shares)				64,985
Capitalized software costs		$ 100	100	$ 300	100
Class B Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability balance related to unvested RSAs		$ 0		$ 0
Shares that remained subject to future vesting (in shares)		75,102		75,102
RSAs cancelled or forfeited (in shares)		0		27,146
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense		$ 2,100	11,800	$ 5,100	12,800
Accelerated stock-based compensation expense			$ 10,300		$ 10,300
Accelerated vesting (in shares)			500,000		500,000
Unrecognized stock-based compensation expense, weighted -average period for recognition				2 years 10 months 9 days
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense		$ 100	$ 11,200	$ 200	$ 11,500
Accelerated stock-based compensation expense			$ 11,100		$ 11,100
Accelerated vesting (in shares)			426,657		426,657
Vested (in shares)		11,496		588,106
Carried Equity Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)		$ 0.06		$ 0.06
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense		$ 4,900	$ 2,300	$ 11,000	$ 2,300
Unrecognized stock-based compensation expense, weighted -average period for recognition				3 years 3 months 3 days
Vested (in shares)				341,461
Unvested (in shares)		3,174,027		3,174,027		1,073,529
Unrecognized stock-based compensation expense, awards other than options		$ 54,500		$ 54,500
Purchase rights committed under the ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense		200		500
Unrecognized stock-based compensation expense, awards other than options		$ 100		$ 100
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	13,171,588
Annual increase in shares authorized, percentage	5%

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Number of Options
Beginning balance (in shares)	4,256,812
Granted (in shares)	927,364
Exercised (in shares)	(29,909)
Forfeited (in shares)	(331,781)
Ending balance (in shares)	4,822,486	4,256,812
Vested and expected to vest in the future (in shares)	4,822,486
Exercisable at end of period (in shares)	2,833,199
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 13.05
Granted (in dollars per share)	17.09
Exercised (in dollars per share)	6.22
Forfeited (in dollars per share)	21.04
Ending balance (in dollars per share)	13.32	$ 13.05
Vested and expected to vest in the future (in dollars per share)	13.32
Exercisable at end of period (in dollars per share)	$ 8.56
Weighted Average Remaining Contract Term and Aggregate Intrinsic Value
Weighted average remaining contractual term	7 years 10 months 24 days	8 years 5 months 8 days
Weighted average remaining contractual term, vested and expected to vest in the future	7 years 10 months 24 days
Weighted average remaining contractual term, exercisable at end of period	7 years 1 month 24 days
Aggregate intrinsic value	$ 26,811,786	$ 42,429
Aggregate intrinsic value, vested and expected to vest in the future	26,811,786
Aggregate intrinsic value, exercisable at end of period	$ 25,074,833

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of RSU Activity (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Number of RSUs
Non-vested ending balance (in shares)	3,174,027
Restricted stock units (RSUs)
Number of RSUs
Non-vested beginning balance (in shares)	1,073,529
Granted (in shares)	2,708,097
Vested (in shares)	(341,461)
Forfeited (in shares)	(266,138)
Non-vested ending balance (in shares)	3,174,027
Weighted Average Grant Date Fair Value
Non-vested beginning balance (in dollars per share) | $ / shares	$ 25.76
Granted (in dollars per share) | $ / shares	17.94
Vested (in dollars per share) | $ / shares	25.89
Forfeited (in dollars per share) | $ / shares	21.42
Non-vested ending balance (in dollars per share) | $ / shares	$ 19.44

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 7,253	$ 25,527	$ 16,501	$ 26,835
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1,352	5,296	3,567	5,461
General and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	3,170	12,158	6,947	12,864
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	2,092	6,194	4,457	6,358
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 639	$ 1,879	$ 1,530	$ 2,152

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	(44.00%)	(6.00%)	44%	(350.00%)
Uncertain tax positions	$ 2,300,000		$ 2,300,000		$ 1,900,000
Penalties and interest on unrecognized tax benefits	$ 0		$ 0		$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) Property	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) Property	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Property from a related party | Property	1		1
Operating leases, rent expense		$ 341		$ 1,328
Advisory Services Agreement
Related Party Transaction [Line Items]
Related party transaction, general and administrative expenses from transactions with related party		200	$ 1,200
Leased Property From Related Party
Related Party Transaction [Line Items]
Operating lease, expense	$ 200		500
Operating leases, rent expense		200		500
Affiliated Entity
Related Party Transaction [Line Items]
Related party transaction, cost of sales	400	$ 400	1,300	$ 1,200
Prepaid expenses, related party	200		200		$ 100
Accounts payable, related parties	100		100		200
Accrued liabilities, related parties	$ 300		$ 300		$ 200

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Summary of calculation of basic and diluted net income (loss) per share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net income (loss) attributable to common stockholders, basic	$ (2,894)	$ (24,226)	$ 6,757	$ (27,727)
Net income (loss) attributable to common stockholders, diluted	$ (2,894)	$ (24,226)	$ 6,757	$ (27,727)
Weighted average common stock outstanding:
Basic (in shares)	80,659,320	71,697,083	80,353,399	58,495,073
Diluted (in shares)	80,659,320	71,697,083	82,364,835	58,495,073
Net income (loss) per share:
Basic (in dollars per share)	$ (0.04)	$ (0.34)	$ 0.08	$ (0.47)
Diluted (in dollars per share)	$ (0.04)	$ (0.34)	$ 0.08	$ (0.47)

Net Income (Loss) Per Share -_2

Net Income (Loss) Per Share - Summary of outstanding potentially dilutive securities were excluded from the calculation of diluted net loss per common unit attributable to common unitholders (Detail) - shares	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,591,138	6,484,224
Options to purchase common stock outstanding, unexercised
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,833,279	4,448,454
Restricted stock awards, unvested
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	947,540
Restricted stock units, unvested
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	757,859	1,088,230
Purchase rights committed under the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0

Business Combinations - Additio

Business Combinations - Additional Information (Details) - USD ($)		3 Months Ended		9 Months Ended
	Apr. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Escrow deposit		$ 30,000,000		$ 30,000,000			$ 0
Acquisition related costs		163,000	$ 0	2,549,000	$ 781,000
Contingent earnout		0		$ 0		$ 200,000
StreetShares
Business Acquisition [Line Items]
Cash consideration, gross	$ 28,000,000
Escrow deposit	30,000,000
Acquisition related costs	1,600,000
Goodwill considered deductible for income tax purposes	$ 0
Contingent earnout, measurement period	12 months
Purchase accounting adjustments, goodwill		2,300,000
Working capital adjustments, DTA		1,100,000
Business combination, adjustment consideration transferred		100,000
StreetShares | Customer relationships
Business Acquisition [Line Items]
Working capital adjustments, intangibles		1,900,000
StreetShares | Developed technology
Business Acquisition [Line Items]
Working capital adjustments, intangibles		$ 1,500,000

Business Combinations - Summary

Business Combinations - Summary of the Allocation of the Purchase Price (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Apr. 01, 2022	Dec. 31, 2021
Assets acquired:
Goodwill	$ 571,554		$ 564,799
StreetShares
Assets acquired:
Cash and cash equivalents		$ 1,580
Restricted cash		3,265
Accounts receivable, net		157
Prepaid expenses and other current assets		561
Property and equipment, net		142
Right of use assets		613
Deferred tax asset		11,624
Goodwill		6,755
Intangible assets		12,400
Other assets		83
Total assets acquired		37,180
Liabilities assumed:
Accounts payable		368
Accrued compensation and benefits		3,585
Accrued expenses		738
Contingent earnout		162
Notes payable to Regulation A+ investors		3,265
Deferred revenue		854
Other long-term liabilities		225
Total liabilities assumed		9,197
Fair value of assets acquired and liabilities assumed		$ 27,983

Business Combinations - Summa_2

Business Combinations - Summary of Fair Value of the Separately Identifiable Finite-Lived Intangible Assets Acquired and Estimated Useful Lives (Details) - StreetShares $ in Thousands	Apr. 01, 2022 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Values	$ 12,400
Weighted Average Amortization Life (years)	9 years
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Values	$ 500
Weighted Average Amortization Life (years)	5 years
Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Values	$ 11,800
Weighted Average Amortization Life (years)	10 years
Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Values	$ 100
Weighted Average Amortization Life (years)	2 years

Business Combinations - Summa_3

Business Combinations - Summary of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 564,799
Goodwill additions during period	6,755
Ending balance	$ 571,554

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Nov. 04, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Subsequent Event [Line Items]
Acquisition related costs		$ 163	$ 0	$ 2,549	$ 781
Subsequent Event | Beanstalk Networks, L.L.C.
Subsequent Event [Line Items]
Cash consideration, gross	$ 65,000
Acquisition related costs	$ 1,400