MeridianLink (MLNK) 10-Q 2 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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	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		80,645,366
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
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	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 77,796	$ 55,780
Accounts receivable, net	37,401	32,905
Prepaid expenses and other current assets	10,798	9,447
Escrow deposit	30,000	30,000
Total current assets	155,995	128,132
Property and equipment, net	3,891	4,245
Right of use assets	1,929	2,185
Intangible assets, net	285,412	297,475
Deferred tax assets, net	14,893	13,939
Goodwill	608,902	608,657
Other assets	4,784	4,524
Total assets	1,075,806	1,059,157
Current liabilities:
Accounts payable	3,986	1,249
Accrued liabilities	34,102	32,500
Deferred revenue	34,090	16,945
Current portion of long-term debt, net of debt issuance costs	3,506	3,505
Total current liabilities	75,684	54,199
Long-term debt, net of debt issuance costs	422,526	423,404
Long-term deferred revenue	992	1,141
Other long-term liabilities	1,165	1,322
Total liabilities	500,367	480,066
Commitments and contingencies (Note 5)
Stockholders’ Equity
Preferred stock, $0.001 par value; 50,000,000 shares authorized; zero shares issued and outstanding at March 31, 2023 and December 31, 2022	0	0
Common stock, $0.001 par value; 600,000,000 shares authorized, 80,636,894 and 80,644,452 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	132	128
Additional paid-in capital	626,905	621,396
Accumulated deficit	(51,598)	(42,433)
Total stockholders’ equity	575,439	579,091
Total liabilities and stockholders’ equity	$ 1,075,806	$ 1,059,157

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
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)	80,636,894	80,644,452
Common stock, shares outstanding (in shares)	80,636,894	80,644,452

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenues, net	$ 77,135	$ 72,754
Cost of revenues:
Subscription and services	23,501	21,104
Amortization of developed technology	4,454	3,434
Total cost of revenues	27,955	24,538
Gross profit	49,180	48,216
Operating expenses:
General and administrative	22,555	18,187
Research and development	13,812	8,409
Sales and marketing	8,213	4,743
Acquisition related costs	0	2,283
Restructuring related costs	2,904	0
Total operating expenses	47,484	33,622
Operating (loss) income	1,696	14,594
Other (income) expense, net:
Other income	(470)	(163)
Interest expense, net	9,031	4,358
Total other expense, net	8,561	4,195
(Loss) income before (benefit from) provision for income taxes	(6,865)	10,399
(Benefit from) provision for income taxes	(1,199)	2,920
Net (loss) income	$ (5,666)	$ 7,479
Net (loss) income per share:
Basic (in dollars per share)	$ (0.07)	$ 0.09
Diluted (in dollars per share)	$ (0.07)	$ 0.09
Weighted average common stock outstanding:
Basic (in shares)	80,659,978	79,974,071
Diluted (in shares)	80,659,978	82,228,936

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Restricted stock awards	Common Stock	Common Stock Restricted stock awards	Common Stock Restricted stock units	Additional paid-in capital	Accumulated deficit
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)
Beginning balance (in shares) at Dec. 31, 2022			80,644,452
Beginning balance at Dec. 31, 2022	$ 579,091		$ 128			621,396	(42,433)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (in shares)				59,558	65,770
Vesting of restricted stock		$ 4		$ 4
Issuance of common stock due to exercise of stock options (in shares)	97,412		97,412
Issuance of common stock due to exercise of stock options	$ 594					594
Shares withheld related to net share settlement of restricted stock units (in shares)			(1,769)
Shares withheld related to net share settlement of restricted stock units	$ (24)					(24)
Repurchase of stock (in shares)	(228,529)		(228,529)
Repurchase of stock	$ (3,499)						(3,499)
Share-based compensation expense	4,939					4,939
Net income (loss)	(5,666)						(5,666)
Ending balance (in shares) at Mar. 31, 2023			80,636,894
Ending balance at Mar. 31, 2023	$ 575,439		$ 132			$ 626,905	$ (51,598)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net (loss) income	$ (5,666)	$ 7,479
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	14,531	12,905
Provision for expected credit losses	532	0
Amortization of debt issuance costs	235	484
Share-based compensation expense	4,891	3,808
Loss on disposal of fixed assets	0	135
Deferred income taxes	(1,198)	2,679
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(5,028)	(7,248)
Prepaid expenses and other assets	(1,636)	(460)
Accounts payable	2,717	301
Accrued liabilities	1,706	194
Deferred revenue	16,997	14,586
Net cash provided by operating activities	28,081	34,863
Cash flows from investing activities:
Capitalized software additions	(1,924)	(1,522)
Purchases of property and equipment	(134)	(419)
Net cash used in investing activities	(2,058)	(1,941)
Cash flows from financing activities:
Repurchases of common stock	(3,490)	0
Proceeds from exercise of stock options	594	179
Taxes paid related to net share settlement of RSUs	(24)	0
Principal payments of long-term debt	(1,087)	0
Net cash (used in) provided by financing activities	(4,007)	179
Net increase in cash and cash equivalents	22,016	33,101
Cash and cash equivalents, beginning of period	55,780	113,645
Cash and cash equivalents, end of period	77,796	146,746
Supplemental disclosures of cash flow information:
Cash paid for interest	9,019	3,869
Cash paid for income taxes	50	44
Non-cash investing and financing activities:
Purchase price allocation adjustment related to income tax effects for StreetShares acquisition	245	0
Purchases of property and equipment included in accounts payable and accrued expenses	79	0
Share-based compensation expense capitalized to software additions	48	79
Excise taxes payable included in repurchases of common stock	9	0
Vesting of RSAs and RSUs	4	32
Initial recognition of operating lease liability	0	3,372
Initial recognition of operating lease right-of-use asset	$ 0	$ 2,627

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of BusinessMeridianLink, 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 UGP, LLC and its affiliates (“Thoma Bravo”). The Company is headquartered in Costa Mesa, California.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
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. Certain prior period amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or the consolidated balance sheets. The interim condensed consolidated balance sheet as of March 31, 2023, the condensed consolidated statements of operations, stockholders’ equity, and cash flows for the three months ended March 31, 2023 and 2022 are unaudited. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect, in the opinion of management, all adjustments of a normal and recurring nature that are necessary for the fair presentation of the Company’s condensed consolidated financial position as of March 31, 2023, and its consolidated results of operations and cash flows for the three months ended March 31, 2023 and 2022. The financial data and the other financial information disclosed in the notes to the condensed consolidated financial statements related to the three months ended March 31, 2023 and 2022, are also unaudited. The condensed consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future annual or interim period. The consolidated balance sheet as of December 31, 2022 included herein was derived from the audited consolidated financial statements as of that date. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed on March 9, 2023. Operating and Reportable Segment The Company operates and manages its business and financial information on a consolidated basis for the purposes of evaluating financial performance and the allocation of resources. The Company's management determined that it operates in one operating and reportable segment that is focused exclusively on providing cloud-based digital solutions in the United States. In reaching this conclusion, management considers the definition of the chief operating decision maker (“CODM”), how the business is defined by the CODM, the nature of the information provided to the CODM and how that information is used to make operating decisions, allocate resources, and assess performance. The Company's CODM is the chief executive officer. The results of operations provided to and analyzed by the CODM are at the consolidated level, and accordingly, key resource decisions and assessment of performance are performed at the consolidated level. The Company assesses its determination of operating segments at least annually. 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; allowance for credit losses; 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 2016-13, “Financial Instruments — Credit Losses (Topic 326)” which is discussed in more detail within Note 3, “Revenue Recognition.” 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 2016-13, “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 requires use of a forward-looking expected credit loss model for accounts receivables, loans, and other financial instruments. Adoption of the standard requires using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date to align existing credit loss methodology with the new standard. The Company adopted this guidance effective January 1, 2023, and the adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements and disclosures. Recent Accounting Pronouncements Not Yet Adopted 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. Companies can apply the ASU immediately, however, the guidance will only be available for a limited time. In December 2022, the FASB issued ASU 2022-06 which deferred the sunset date from December 31, 2022 to December 31, 2024, after which companies will no longer be permitted to apply the transition relief. The Company is currently evaluating the impact of this guidance on its condensed consolidated financial statements and related disclosures.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 2022 Lending Software Solutions $ 58,001 $ 49,167 Data Verification Software Solutions 19,134 23,587 Total $ 77,135 $ 72,754 Lending Software Solutions accounted for 75%, and 68% of total revenues for the three months ended March 31, 2023 and 2022, respectively. Data Verification Software Solutions accounted for 25% and 32% of total revenues for the three months ended March 31, 2023 and 2022 respectively. The following table disaggregates the Company’s net revenues by major source (in thousands): Three Months Ended March 31, 2023 2022 Subscription fees $ 66,405 $ 63,469 Professional services 8,435 7,112 Other 2,295 2,173 Total revenues $ 77,135 $ 72,754 Deferred Revenue The changes in the Company’s deferred revenue as of March 31, 2023 and 2022 were as follows (in thousands): Three Months Ended March 31, 2023 2022 Deferred revenue, beginning balance $ 18,086 $ 14,707 Billing of transaction consideration 94,131 87,340 Revenue recognized (77,135) (72,754) Deferred revenue, ending balance $ 35,082 $ 29,293 Deferred revenue, current $ 34,090 $ 29,293 Long-term deferred revenue 992 — Total deferred revenue $ 35,082 $ 29,293 Assets Recognized from Costs to Obtain a Contract with a Customer The following table represents the changes in contract cost assets (in thousands): Three Months Ended March 31, 2023 2022 Beginning balance $ 6,539 $ 5,835 Additions 1,151 607 Amortization (747) (554) Ending balance $ 6,943 $ 5,888 Contract cost assets, current $ 3,196 $ 2,572 Contract cost assets, noncurrent 3,747 3,316 Total deferred contract cost assets $ 6,943 $ 5,888 Accounts Receivable and Allowance for Credit Losses Effective January 1, 2023, the Company adopted the requirements of ASU 2016-13-Credit Loses, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) using a modified retrospective method of adoption. The Standard replaces the existing incurred credit loss model with the current expected credit losses model for financial instruments, including accounts receivable. The Company’s accounts receivable includes billed and unbilled receivables, net of an allowance for credit losses. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The Company recognizes an allowance for credit losses on accounts receivable in an amount equal to the current expected credit losses. The estimation of the allowance is based on an analysis of historical loss experience, current receivables aging, and management’s assessment of current conditions and estimated future conditions, as well as an assessment of specific identifiable customer accounts considered at risk or uncollectible. The Company assesses collectability by pooling receivables where similar characteristics exist and evaluates receivables individually when specific customer balances no longer share those risk characteristics and are considered at risk or uncollectible. The expense associated with the allowance for expected credit losses is recognized in general and administrative expenses. A rollforward of the Company’s allowance for expected credit losses balance for the three months ended March 31, 2023 is as follows: Three Months Ended March 31, 2023 Allowance for doubtful accounts, December 31, 2022 $ 165 Impact of adopting ASU 2016-13 — Allowance for expected credit losses, January 1, 2023 165 Provision for expected credit losses 532 Write offs, net (33) Allowance for expected credit losses, March 31, 2023 $ 664

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 As of December 31, 2022 Prepaid expenses $ 6,994 $ 6,069 Contract cost assets – current 3,196 2,938 Other 608 440 Total prepaid expenses and other current assets $ 10,798 $ 9,447 Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): As of March 31, 2023 As of December 31, 2022 Computer equipment and software $ 7,987 $ 7,854 Leasehold improvements 2,732 2,732 Office equipment and furniture 986 978 Total 11,705 11,564 Less: Accumulated depreciation (7,814) (7,319) Property and equipment, net $ 3,891 $ 4,245 Depreciation expense amounted to $0.5 million and $0.6 million for the three months ended March 31, 2023 and 2022, respectively. The Company disposed of office furniture that resulted in a loss of $0.1 million for the three months ended March 31, 2022. The losses are included in general and administrative expenses in the accompanying condensed consolidated statements of operations. There were no disposals of property and equipment for the three months ended March 31, 2023. Intangible Assets, Net Intangible assets, net consisted of the following (in thousands): As of March 31, 2023 Gross Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 343,300 $ (140,845) $ 202,455 Developed technology 96,400 (43,426) 52,974 Trademarks 24,975 (10,920) 14,055 Non-competition agreements 5,500 (1,008) 4,492 Capitalized software 21,416 (9,980) 11,436 Total intangible assets, net $ 491,591 $ (206,179) $ 285,412 As of December 31, 2022 Gross Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 343,300 $ (132,298) $ 211,002 Developed technology 96,400 (40,360) 56,040 Trademarks 24,975 (10,205) 14,770 Non-competition agreements 5,500 (688) 4,812 Capitalized software 19,443 (8,592) 10,851 Total intangible assets, net $ 489,618 $ (192,143) $ 297,475 The weighted average remaining useful lives for intangible assets at March 31, 2023 were as follows: Weighted Average Remaining Useful Life Customer relationships 5 years Developed technology 4 years Trademarks 5 years Non-competition agreements 4 years Capitalized software 3 years Amortization expense related to intangible assets was as follows (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenues $ 4,454 $ 3,434 General and administrative expense 9,582 8,910 Total amortization expense $ 14,036 $ 12,344 The estimated future amortization of intangible assets as of March 31, 2023 was as follows (in thousands): Years ending December 31, 2023 (remaining nine months) $ 41,133 2024 53,415 2025 47,535 2026 42,510 2027 42,052 2028 24,901 Thereafter 33,866 Total amortization expense $ 285,412 Accrued Liabilities Accrued liabilities consisted of the following (in thousands): As of As of Accrued payroll and payroll-related expenses $ 8,791 $ 9,836 Accrued costs of revenues 5,408 3,141 Sales tax liability from acquisitions 4,572 4,572 Accrued operating costs 4,352 4,016 Accrued bonuses 4,315 5,947 User conference 1,971 755 Lease liability - current 1,139 1,223 Income taxes payable 889 939 Other accrued expenses 2,665 2,071 Total accrued liabilities $ 34,102 $ 32,500

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 are as follows (in thousands): Contractual Commitments Years ending December 31, 2023 (remaining nine months) $ 375 2024 395 2025 3,020 Total $ 3,790

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following (in thousands): As of March 31, 2023 As of December 31, 2022 2021 Term loan $ 430,650 $ 431,738 Debt issuance costs (4,618) (4,829) Total debt, net 426,032 426,909 Less: Current portion of long-term debt 2021 Term loan 4,350 4,350 Debt issuance costs (844) (845) Total current portion of long-term debt, net 3,506 3,505 Total non-current portion of long-term debt, net $ 422,526 $ 423,404 Amortization of deferred financing fees was $0.2 million and $0.5 million for the three months ended March 31, 2023 and 2022 respectively. Total interest expense, excluding amortization of deferred financing fees, was $8.9 million and $3.9 million, for the three months ended March 31, 2023 and 2022, 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 March 31, 2023. 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 March 31, 2023. 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 March 31, 2023. 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 $0.2 million, and $0.5 million of amortization of debt issuance costs for the 2021 Term Loan during the three months ended March 31, 2023 and 2022, respectively. The effective interest rate on the 2021 Term Loan was 8.5% as of March 31, 2023. 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 2021 Revolving Credit Facility also requires a quarterly commitment fee based on the Company’s consolidated first lien net leverage ratio. As of March 31, 2023, 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 March 31, 2023 were as follows (in thousands): Years ending December 31, 2023 (remaining nine months) $ 3,263 2024 4,350 2025 4,350 2026 4,350 2027 4,350 Thereafter 409,987 Total $ 430,650

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2023
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	3 Months Ended
	Mar. 31, 2023
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 three months ended March 31, 2023 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, 2023 4,739,783 $ 13.21 7.61 $ 19,855 Granted — — Exercised (97,412) 6.10 Forfeited (143,087) 21.78 Outstanding – March 31, 2023 4,499,284 $ 13.09 7.34 $ 28,349 Vested and expected to vest in the future at March 31, 2023 4,499,284 13.09 7.34 28,349 Exercisable at March 31, 2023 2,951,792 $ 9.28 6.67 $ 27,428 The total fair value of options that vested during the three months ended March 31, 2023 and 2022 was $1.1 million and $1.5 million, respectively. The total intrinsic value of options exercised during the three months ended March 31, 2023 and 2022 was $0.9 million and $0.4 million, respectively. The Company recognized $1.3 million and $1.4 million in share-based compensation expense related to time-based and performance-based stock options for the three months ended March 31, 2023 and 2022, respectively. During the three months ended March 31, 2023 and 2022, performance-based options were probable of vesting and, therefore, were included as part of share-based compensation expense. As of March 31, 2023, there was $14.1 million of unrecognized share-based compensation expense related to stock options, which is expected to be recognized over a weighted-average period of 2.56 years. Restricted Stock Awards The number of restricted stock awards (“RSAs”) that vested during the three months ended March 31, 2023 and 2022 was 59,558 and 484,401, respectively. The liability balance as of March 31, 2023 and 2022, related to the unvested RSAs was $0.00 million and $0.01 million, respectively. As of March 31, 2023 and 2022, the number of unvested RSAs amounted to 4,051 and 183,741, respectively. There were a total of 0 and 22,212 RSAs cancelled or forfeited during the three months ended March 31, 2023 and 2022, respectively. The Company recognized $0.1 million and $0.1 million in share-based compensation expense related to the vesting of RSAs for the three months ended March 31, 2023 and 2022, respectively. Restricted Stock Units A summary of restricted stock unit (“RSU”) activity during the three months ended March 31, 2023, is as follows: Number of RSUs Weighted Average Grant Date Fair Value Non-vested – January 1, 2023 3,111,831 $ 19.27 Granted 424,266 15.00 Vested (65,770) 25.73 Forfeited (258,916) 19.76 Non-vested – March 31, 2023 3,211,411 $ 18.53 As of March 31, 2023, 3,211,411 RSUs are expected to vest. The Company recognized $3.4 million and $2.2 million in share-based compensation expense related to RSUs for the three months ended March 31, 2023, and 2022, respectively. As of March 31, 2023, there was $48.2 million of unrecognized share-based compensation expense related to RSUs, which is expected to be recognized over a weighted-average period of 2.96 years. Employee Stock Purchase Program As of March 31, 2023, the Company has issued 127,700 shares of common stock pursuant to the 2021 Employee Stock Purchase Plan under its employee stock purchase program (“ESPP”). As of March 31, 2023, there was $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 $0.1 million and $0.1 million of share-based compensation expense related to the ESPP for the three months ended March 31, 2023 and 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 months ended March 31, 2023 and 2022 as follows (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenues $ 853 $ 965 General and administrative 2,264 1,381 Research and development (1) 1,783 1,077 Sales and marketing 290 385 Restructuring related costs (2) (299) — Total share-based compensation expense $ 4,891 $ 3,808 ______________ (1) Net of $0.1 million and $0.1 million additions to capitalized software on the Company’s condensed consolidated balance sheets during the three months ended March 31, 2023 and 2022, respectively. (2) Relates to unvested stock compensation that was forfeited as part of the Restructuring Plan. See Note 12, “Restructuring.”

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
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 17% and 28% for the three months ended March 31, 2023 and 2022, respectively. During the three months ended March 31, 2023, 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, certain employee remuneration under section 162(m) of the Internal Revenue Code, and other expected permanent differences. During the three months ended March 31, 2022, the Company’s effective tax rate differs from the U.S. federal statutory rate primarily due to R&D credits, state taxes, permanent differences related to share-based compensation expense, and other expected permanent differences. The Company has gross unrecognized tax benefits with respect to R&D credits of $3.1 million as of March 31, 2023 and $2.5 million as of December 31, 2022. Penalties and interest have been recorded on these liabilities as the credits have started to be utilized.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The following table presents the impact of related party transactions on the Company’s condensed consolidated statements of operations (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenues $ 319 $ 472 General and administrative 248 207 Research and development 162 63 Sales and marketing — 22 Total related party expenses $ 729 $ 764 The following table presents the impact of related party transactions on the Company’s condensed consolidated balance sheets (in thousands): As of March 31, 2023 December 31, 2022 Prepaid assets $ 156 $ 37 Total current assets $ 156 $ 37 Accounts payable $ 152 $ 30 Accrued liabilities 529 456 Total current liabilities $ 681 $ 486

Net (Loss) Income Per Share

Net (Loss) Income Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net (Loss) Income Per Share	Net (Loss) Income Per Share The following table presents the calculation of basic and diluted net (loss) income per share (in thousands, except share and per share data): Three Months Ended March 31, 2023 2022 Basic and diluted net (loss) income per share Numerator: Net (loss) income attributable to common stockholders $ (5,666) $ 7,479 Denominator: Weighted average common stock outstanding: Basic 80,659,978 79,974,071 Diluted 80,659,978 82,228,936 Net (loss) income per share: Basic $ (0.07) $ 0.09 Diluted (0.07) 0.09 A reconciliation of the denominator used in the calculation of basic and diluted earnings per share is as follows: Three Months Ended March 31, 2023 2022 Weighted average shares outstanding for basic earnings per share 80,659,978 79,974,071 Effect of dilutive securities: Options outstanding, unexercised — 1,736,275 RSAs unvested — 488,291 RSUs unvested — 27,120 Purchase rights committed under the ESPP — 3,179 Weighted average shares outstanding for diluted earnings per share 80,659,978 82,228,936 The following outstanding potentially dilutive securities were excluded from the calculation of diluted net (loss) income per share attributable to common stockholders because their impact would have been anti-dilutive for the periods presented: As of March 31, 2023 2022 Options to purchase common stock outstanding, unexercised 2,017,496 1,476,592 Restricted stock units, unvested 600,981 874,425 Total 2,618,477 2,351,017

Restructuring Activities

Restructuring Activities	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring Activities Restructuring Plan In February 2023, the Company’s board of directors authorized a restructuring plan (the “Restructuring Plan”) that was designed to consolidate the Company’s functions and investments to prioritize customer-centric areas of the Company’s organization, align teams with the Company’s highest business priorities, and improve efficiencies. The Restructuring Plan included a reduction of the Company’s current workforce by 9%.

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations 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 $63.1 million. In connection with the acquisition, the Company incurred $1.9 million in acquisition related 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 is expected to improve the company’s existing lending platform and improve our offerings for depository institutions. The acquisition is 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. As of March 31, 2023, the Company is still finalizing the provisional purchase price allocation related to final working capital adjustments and income tax effects. Pro Forma Financial Information The pro forma statements of operations data for the three months ended March 31, 2022 give effect to the OpenClose acquisition, described above, as if it had occurred at January 1, 2021. These amounts have been calculated after adjusting the operating results of OpenClose for the following primary items: (1) additional intangible amortization from the transaction, (2) acquisition-related expenses incurred, and (3) the related tax effects of the above adjustments. For the three months ended March 31, 2022, pro forma revenue was $76.2 million, and pro forma earnings reflect net income of $6.4 million. The unaudited pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisitions taken place as of January 1, 2021, or the results of our future operations. Furthermore, the pro forma results do not give effect to all cost savings or incremental costs that may occur as a result of the integration and consolidation of the completed acquisitions. 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. During the three months ended March 31, 2023, the Company completed the provisional purchase price allocation related to income tax effects, resulting in a reduction to the deferred tax asset and corresponding increase to goodwill in the amount of $0.2 million.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsEquity GrantsPursuant to approval by the Company’s compensation committee and board of directors, in April 2023, the Company awarded $43.6 million service-based RSUs to its employees. Service-based RSUs generally vest over four years, subject to the participant’s continued service relationship with the Company through each such vesting date.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	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. Certain prior period amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or the consolidated balance sheets. The interim condensed consolidated balance sheet as of March 31, 2023, the condensed consolidated statements of operations, stockholders’ equity, and cash flows for the three months ended March 31, 2023 and 2022 are unaudited. The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect, in the opinion of management, all adjustments of a normal and recurring nature that are necessary for the fair presentation of the Company’s condensed consolidated financial position as of March 31, 2023, and its consolidated results of operations and cash flows for the three months ended March 31, 2023 and 2022. The financial data and the other financial information disclosed in the notes to the condensed consolidated financial statements related to the three months ended March 31, 2023 and 2022, are also unaudited. The condensed consolidated results of operations for any interim period are not necessarily indicative of the results to be expected for the full year or for any other future annual or interim period. The consolidated balance sheet as of December 31, 2022 included herein was derived from the audited consolidated financial statements as of that date. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed on March 9, 2023.
Operating and Reportable Segment	Operating and Reportable Segment The Company operates and manages its business and financial information on a consolidated basis for the purposes of evaluating financial performance and the allocation of resources. The Company's management determined that it operates in one operating and reportable segment that is focused exclusively on providing cloud-based digital solutions in the United States. In reaching this conclusion, management considers the definition of the chief operating decision maker (“CODM”), how the business is defined by the CODM, the nature of the information provided to the CODM and how that information is used to make operating decisions, allocate resources, and assess performance. The Company's CODM is the chief executive officer. The results of operations provided to and analyzed by the CODM are at the consolidated level, and accordingly, key resource decisions and assessment of performance are performed at the consolidated level. The Company assesses its determination of operating segments at least annually.
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; allowance for credit losses; 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.
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 2016-13, “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 requires use of a forward-looking expected credit loss model for accounts receivables, loans, and other financial instruments. Adoption of the standard requires using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date to align existing credit loss methodology with the new standard. The Company adopted this guidance effective January 1, 2023, and the adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements and disclosures. Recent Accounting Pronouncements Not Yet Adopted 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. Companies can apply the ASU immediately, however, the guidance will only be available for a limited time. In December 2022, the FASB issued ASU 2022-06 which deferred the sunset date from December 31, 2022 to December 31, 2024, after which companies will no longer be permitted to apply the transition relief. 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)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 2022 Lending Software Solutions $ 58,001 $ 49,167 Data Verification Software Solutions 19,134 23,587 Total $ 77,135 $ 72,754 The following table disaggregates the Company’s net revenues by major source (in thousands): Three Months Ended March 31, 2023 2022 Subscription fees $ 66,405 $ 63,469 Professional services 8,435 7,112 Other 2,295 2,173 Total revenues $ 77,135 $ 72,754
Schedule of changes in the deferred revenue	The changes in the Company’s deferred revenue as of March 31, 2023 and 2022 were as follows (in thousands): Three Months Ended March 31, 2023 2022 Deferred revenue, beginning balance $ 18,086 $ 14,707 Billing of transaction consideration 94,131 87,340 Revenue recognized (77,135) (72,754) Deferred revenue, ending balance $ 35,082 $ 29,293 Deferred revenue, current $ 34,090 $ 29,293 Long-term deferred revenue 992 — Total deferred revenue $ 35,082 $ 29,293
Schedule of changes in contract cost assets	The following table represents the changes in contract cost assets (in thousands): Three Months Ended March 31, 2023 2022 Beginning balance $ 6,539 $ 5,835 Additions 1,151 607 Amortization (747) (554) Ending balance $ 6,943 $ 5,888 Contract cost assets, current $ 3,196 $ 2,572 Contract cost assets, noncurrent 3,747 3,316 Total deferred contract cost assets $ 6,943 $ 5,888
Summary of allowance for expected credit losses	A rollforward of the Company’s allowance for expected credit losses balance for the three months ended March 31, 2023 is as follows: Three Months Ended March 31, 2023 Allowance for doubtful accounts, December 31, 2022 $ 165 Impact of adopting ASU 2016-13 — Allowance for expected credit losses, January 1, 2023 165 Provision for expected credit losses 532 Write offs, net (33) Allowance for expected credit losses, March 31, 2023 $ 664

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 As of December 31, 2022 Prepaid expenses $ 6,994 $ 6,069 Contract cost assets – current 3,196 2,938 Other 608 440 Total prepaid expenses and other current assets $ 10,798 $ 9,447
Summary of property and equipment, net	Property and equipment, net consisted of the following (in thousands): As of March 31, 2023 As of December 31, 2022 Computer equipment and software $ 7,987 $ 7,854 Leasehold improvements 2,732 2,732 Office equipment and furniture 986 978 Total 11,705 11,564 Less: Accumulated depreciation (7,814) (7,319) Property and equipment, net $ 3,891 $ 4,245
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 March 31, 2023 Gross Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 343,300 $ (140,845) $ 202,455 Developed technology 96,400 (43,426) 52,974 Trademarks 24,975 (10,920) 14,055 Non-competition agreements 5,500 (1,008) 4,492 Capitalized software 21,416 (9,980) 11,436 Total intangible assets, net $ 491,591 $ (206,179) $ 285,412 As of December 31, 2022 Gross Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 343,300 $ (132,298) $ 211,002 Developed technology 96,400 (40,360) 56,040 Trademarks 24,975 (10,205) 14,770 Non-competition agreements 5,500 (688) 4,812 Capitalized software 19,443 (8,592) 10,851 Total intangible assets, net $ 489,618 $ (192,143) $ 297,475 The weighted average remaining useful lives for intangible assets at March 31, 2023 were as follows: Weighted Average Remaining Useful Life Customer relationships 5 years Developed technology 4 years Trademarks 5 years Non-competition agreements 4 years 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 March 31, 2023 2022 Cost of revenues $ 4,454 $ 3,434 General and administrative expense 9,582 8,910 Total amortization expense $ 14,036 $ 12,344
Schedule of estimated future amortization of intangible assets	The estimated future amortization of intangible assets as of March 31, 2023 was as follows (in thousands): Years ending December 31, 2023 (remaining nine months) $ 41,133 2024 53,415 2025 47,535 2026 42,510 2027 42,052 2028 24,901 Thereafter 33,866 Total amortization expense $ 285,412
Summary of accrued liabilities	Accrued liabilities consisted of the following (in thousands): As of As of Accrued payroll and payroll-related expenses $ 8,791 $ 9,836 Accrued costs of revenues 5,408 3,141 Sales tax liability from acquisitions 4,572 4,572 Accrued operating costs 4,352 4,016 Accrued bonuses 4,315 5,947 User conference 1,971 755 Lease liability - current 1,139 1,223 Income taxes payable 889 939 Other accrued expenses 2,665 2,071 Total accrued liabilities $ 34,102 $ 32,500

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 are as follows (in thousands): Contractual Commitments Years ending December 31, 2023 (remaining nine months) $ 375 2024 395 2025 3,020 Total $ 3,790

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following (in thousands): As of March 31, 2023 As of December 31, 2022 2021 Term loan $ 430,650 $ 431,738 Debt issuance costs (4,618) (4,829) Total debt, net 426,032 426,909 Less: Current portion of long-term debt 2021 Term loan 4,350 4,350 Debt issuance costs (844) (845) Total current portion of long-term debt, net 3,506 3,505 Total non-current portion of long-term debt, net $ 422,526 $ 423,404
Summary of future principal payments of long-term debt	Future principal payments of long-term debt as of March 31, 2023 were as follows (in thousands): Years ending December 31, 2023 (remaining nine months) $ 3,263 2024 4,350 2025 4,350 2026 4,350 2027 4,350 Thereafter 409,987 Total $ 430,650

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of stock option activity	A summary of stock option activity during the three months ended March 31, 2023 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, 2023 4,739,783 $ 13.21 7.61 $ 19,855 Granted — — Exercised (97,412) 6.10 Forfeited (143,087) 21.78 Outstanding – March 31, 2023 4,499,284 $ 13.09 7.34 $ 28,349 Vested and expected to vest in the future at March 31, 2023 4,499,284 13.09 7.34 28,349 Exercisable at March 31, 2023 2,951,792 $ 9.28 6.67 $ 27,428
Schedule of RSU activity	A summary of restricted stock unit (“RSU”) activity during the three months ended March 31, 2023, is as follows: Number of RSUs Weighted Average Grant Date Fair Value Non-vested – January 1, 2023 3,111,831 $ 19.27 Granted 424,266 15.00 Vested (65,770) 25.73 Forfeited (258,916) 19.76 Non-vested – March 31, 2023 3,211,411 $ 18.53
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 months ended March 31, 2023 and 2022 as follows (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenues $ 853 $ 965 General and administrative 2,264 1,381 Research and development (1) 1,783 1,077 Sales and marketing 290 385 Restructuring related costs (2) (299) — Total share-based compensation expense $ 4,891 $ 3,808 ______________ (1) Net of $0.1 million and $0.1 million additions to capitalized software on the Company’s condensed consolidated balance sheets during the three months ended March 31, 2023 and 2022, respectively. (2) Relates to unvested stock compensation that was forfeited as part of the Restructuring Plan. See Note 12, “Restructuring.”

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table presents the impact of related party transactions on the Company’s condensed consolidated statements of operations (in thousands): Three Months Ended March 31, 2023 2022 Cost of revenues $ 319 $ 472 General and administrative 248 207 Research and development 162 63 Sales and marketing — 22 Total related party expenses $ 729 $ 764 The following table presents the impact of related party transactions on the Company’s condensed consolidated balance sheets (in thousands): As of March 31, 2023 December 31, 2022 Prepaid assets $ 156 $ 37 Total current assets $ 156 $ 37 Accounts payable $ 152 $ 30 Accrued liabilities 529 456 Total current liabilities $ 681 $ 486

Net (Loss) Income Per Share (Ta

Net (Loss) Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
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 (loss) income per share (in thousands, except share and per share data): Three Months Ended March 31, 2023 2022 Basic and diluted net (loss) income per share Numerator: Net (loss) income attributable to common stockholders $ (5,666) $ 7,479 Denominator: Weighted average common stock outstanding: Basic 80,659,978 79,974,071 Diluted 80,659,978 82,228,936 Net (loss) income per share: Basic $ (0.07) $ 0.09 Diluted (0.07) 0.09 A reconciliation of the denominator used in the calculation of basic and diluted earnings per share is as follows: Three Months Ended March 31, 2023 2022 Weighted average shares outstanding for basic earnings per share 80,659,978 79,974,071 Effect of dilutive securities: Options outstanding, unexercised — 1,736,275 RSAs unvested — 488,291 RSUs unvested — 27,120 Purchase rights committed under the ESPP — 3,179 Weighted average shares outstanding for diluted earnings per share 80,659,978 82,228,936
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 (loss) income per share attributable to common stockholders because their impact would have been anti-dilutive for the periods presented: As of March 31, 2023 2022 Options to purchase common stock outstanding, unexercised 2,017,496 1,476,592 Restricted stock units, unvested 600,981 874,425 Total 2,618,477 2,351,017

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023 Segment
Accounting Policies [Abstract]
Number of reportable segments	1
Number of operating segments	1

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue by Solution Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenues, net	$ 77,135	$ 72,754
Lending Software Solutions
Disaggregation of Revenue [Line Items]
Revenues, net	58,001	49,167
Data Verification Software Solutions
Disaggregation of Revenue [Line Items]
Revenues, net	$ 19,134	$ 23,587

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lending Software Solutions
Segment Reporting Information [Line Items]
Concentration risk	75%	68%
Data Verification Software Solutions
Segment Reporting Information [Line Items]
Concentration risk	25%	32%

Revenue Recognition - Disaggr_2

Revenue Recognition - Disaggregation of Revenue by Major Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenues, net	$ 77,135	$ 72,754
Subscription fees
Disaggregation of Revenue [Line Items]
Revenues, net	66,405	63,469
Professional services
Disaggregation of Revenue [Line Items]
Revenues, net	8,435	7,112
Other
Disaggregation of Revenue [Line Items]
Revenues, net	$ 2,295	$ 2,173

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Contract With Customer, Liability [Roll Forward]
Deferred revenue, beginning balance	$ 18,086	$ 14,707
Billing of transaction consideration	94,131	87,340
Revenue recognized	(77,135)	(72,754)
Deferred revenue, ending balance	35,082	29,293
Deferred revenue, current	34,090	29,293
Long-term deferred revenue	992	0	$ 1,141
Deferred revenue, current	$ 35,082	$ 29,293	$ 18,086

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Changes in Contract Cost Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Capitalized Contract Cost [Roll Forward]
Beginning balance	$ 6,539	$ 5,835
Additions	1,151	607
Amortization	(747)	(554)
Ending balance	6,943	5,888
Contract cost assets – current	3,196	2,572	$ 2,938
Contract cost assets, noncurrent	3,747	3,316
Total deferred contract cost assets	$ 6,943	$ 5,888	$ 6,539

Revenue Recognition - Summary o

Revenue Recognition - Summary of Allowance for Expected Credit Losses Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ (165)
Allowance for doubtful accounts	(664)
Provision for expected credit losses	532	$ 0
Write offs, net	(33)
Ending Balance	(664)
Accounting Standards Update 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	0
Allowance for doubtful accounts
Accounting Standards Update 2016-13 | Cumulative Effect, Period of Adoption, Adjusted Balance
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ (165)
Allowance for doubtful accounts

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 6,994	$ 6,069
Contract cost assets – current	3,196	2,938	$ 2,572
Other	608	440
Total prepaid expenses and other current assets	$ 10,798	$ 9,447

Balance Sheet Components - Su_2

Balance Sheet Components - Summary of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 11,705	$ 11,564
Less: Accumulated depreciation	(7,814)	(7,319)
Property and equipment, net	3,891	4,245
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	7,987	7,854
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	2,732	2,732
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 986	$ 978

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Depreciation		$ 600
Loss on disposal of fixed assets	$ 0	135
Office equipment and furniture
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Loss on disposal of fixed assets	$ 0	$ 100

Balance Sheet Components - Su_3

Balance Sheet Components - Summary of Intangible Assets, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross amount	$ 491,591	$ 489,618
Intangible assets, accumulated amortization	(206,179)	(192,143)
Total amortization expense	285,412	297,475
Capitalized computer software, gross	21,416	19,443
Capitalized computer software, accumulated amortization	(9,980)	(8,592)
Capitalized computer software, net carrying amount	11,436	10,851
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross amount	343,300	343,300
Intangible assets, accumulated amortization	(140,845)	(132,298)
Total amortization expense	202,455	211,002
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross amount	96,400	96,400
Intangible assets, accumulated amortization	(43,426)	(40,360)
Total amortization expense	52,974	56,040
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross amount	24,975	24,975
Intangible assets, accumulated amortization	(10,920)	(10,205)
Total amortization expense	14,055	14,770
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross amount	5,500	5,500
Intangible assets, accumulated amortization	(1,008)	(688)
Total amortization expense	$ 4,492	$ 4,812

Balance Sheet Components - Su_4

Balance Sheet Components - Summary of Estimated Useful Lives and Weighted Average Amortization Periods for Intangible Assets (Detail)	3 Months Ended
	Mar. 31, 2023
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	5 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	4 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	5 years
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life	4 years
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
	Mar. 31, 2023	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 14,036	$ 12,344
Cost of revenues
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	4,454	3,434
General and administrative expense
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 9,582	$ 8,910

Balance Sheet Components - Su_6

Balance Sheet Components - Summary of Estimated Future Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
2023 (remaining nine months)	$ 41,133
2024	53,415
2025	47,535
2026	42,510
2027	42,052
2028	24,901
Thereafter	33,866
Total amortization expense	$ 285,412	$ 297,475

Balance Sheet Components - Su_7

Balance Sheet Components - Summary of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued payroll and payroll-related expenses	$ 8,791	$ 9,836
Accrued costs of revenues	5,408	3,141
Sales tax liability from acquisitions	4,572	4,572
Accrued operating costs	4,352	4,016
Accrued bonuses	4,315	5,947
User conference	1,971	755
Lease liability - current	1,139	1,223
Income taxes payable	889	939
Other accrued expenses	2,665	2,071
Total accrued liabilities	$ 34,102	$ 32,500

Commitments and Contingencies -

Commitments and Contingencies - Future Minimum Payments Under Non-Cancelable Purchase Commitments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023 (remaining nine months)	$ 375
2024	395
2025	3,020
Total future minimum payments under non-cancelable purchase commitments	$ 3,790

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
2021 Term loan	$ 430,650	$ 431,738
Debt issuance costs	(4,618)	(4,829)
Total debt, net	426,032	426,909
Current portion of long term debt	3,506	3,505
Debt issuance costs	(844)	(845)
Total non-current portion of long-term debt, net	422,526	423,404
Secured Debt | 2021 Term Loan
Debt Instrument [Line Items]
Current portion of long term debt	$ 4,350	$ 4,350

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Nov. 10, 2021
Debt Instrument [Line Items]
Amortization of financing costs	$ 235	$ 484
Interest expense	8,900	3,900
Debt issuance costs, gross	7,600
2021 Term Loan
Debt Instrument [Line Items]
Amortization of financing costs	$ 200	$ 500
Percent of original principal	0.25%
Debt issuance costs, gross			$ 4,800
Interest rate, effective	8.50%
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
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	Mar. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2023 (remaining nine months)	$ 3,263
2024	4,350
2025	4,350
2026	4,350
2027	4,350
Thereafter	409,987
Total	$ 430,650	$ 431,738

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	May 31, 2022
Equity [Abstract]
Stock repurchase program authorized amount		$ 75,000,000
Stock repurchased (in shares)	228,529
Stock repurchased	$ 3,499,000
Stock remaining for repurchase under repurchase program	$ 68,100,000

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended
	Jul. 26, 2021	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of options vested		$ 1,100	$ 1,500
Intrinsic value of options exercised		900	400
Total share-based compensation expense		4,891	3,808
Unrecognized stock-based compensation expense related to stock options		$ 14,100
Issuance of common stock through employee purchase plan (in shares)		127,700
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense		$ 1,783	1,077
Capitalized software costs		100	100
Class B Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability balance related to unvested RSAs		$ 0	$ 10
Shares that remained subject to future vesting (in shares)		4,051	183,741
RSAs cancelled or forfeited (in shares)		0	22,212
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense		$ 1,300	$ 1,400
Unrecognized stock-based compensation expense, weighted -average period for recognition		2 years 6 months 21 days
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense		$ 100	$ 100
Vested (in shares)		59,558	484,401
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense		$ 3,400	$ 2,200
Unrecognized stock-based compensation expense, weighted -average period for recognition		2 years 11 months 15 days
Vested (in shares)		65,770
Unrecognized stock-based compensation expense, awards other than options		$ 48,200
Purchase rights committed under the ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense		100	$ 100
Unrecognized stock-based compensation expense, awards other than options		$ 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	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Number of Options
Beginning balance (in shares)	4,739,783
Granted (in shares)	0
Exercised (in shares)	(97,412)
Forfeited (in shares)	(143,087)
Ending balance (in shares)	4,499,284	4,739,783
Vested and expected to vest in the future (in shares)	4,499,284
Exercisable at end of period (in shares)	2,951,792
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 13.21
Granted (in dollars per share)	0
Exercised (in dollars per share)	6.10
Forfeited (in dollars per share)	21.78
Ending balance (in dollars per share)	13.09	$ 13.21
Vested and expected to vest in the future (in dollars per share)	13.09
Exercisable at end of period (in dollars per share)	$ 9.28
Weighted Average Remaining Contract Term and Aggregate Intrinsic Value
Weighted average remaining contractual term	7 years 4 months 2 days	7 years 7 months 9 days
Weighted average remaining contractual term, vested and expected to vest in the future	7 years 4 months 2 days
Weighted average remaining contractual term, exercisable at end of period	6 years 8 months 1 day
Aggregate intrinsic value	$ 28,349	$ 19,855
Aggregate intrinsic value, vested and expected to vest in the future	28,349
Aggregate intrinsic value, exercisable at end of period	$ 27,428

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of RSU Activity (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of RSUs
Non-vested ending balance (in shares)	3,211,411
Restricted stock units (RSUs)
Number of RSUs
Non-vested beginning balance (in shares)	3,111,831
Granted (in shares)	424,266
Vested (in shares)	(65,770)
Forfeited (in shares)	(258,916)
Non-vested ending balance (in shares)	3,211,411
Weighted Average Grant Date Fair Value
Non-vested beginning balance (in dollars per share) | $ / shares	$ 19.27
Granted (in dollars per share) | $ / shares	15
Vested (in dollars per share) | $ / shares	25.73
Forfeited (in dollars per share) | $ / shares	19.76
Non-vested ending balance (in dollars per share) | $ / shares	$ 18.53

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 4,891	$ 3,808
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	853	965
General and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	2,264	1,381
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1,783	1,077
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	290	385
Restructuring related costs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ (299)	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	17%	28%
Uncertain tax positions	$ 3.1		$ 2.5

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Cost of revenues	$ 23,501	$ 21,104
General and administrative	22,555	18,187
Research and development	13,812	8,409
Sales and marketing	8,213	4,743
Prepaid expenses and other current assets	10,798		$ 9,447
Total current assets	155,995		128,132
Accounts payable	3,986		1,249
Accrued liabilities	34,102		32,500
Total current liabilities	75,684		54,199
Affiliated Entity
Related Party Transaction [Line Items]
Cost of revenues	319	472
General and administrative	248	207
Research and development	162	63
Sales and marketing	0	22
Total related party expenses	729	$ 764
Prepaid expenses and other current assets	156		37
Total current assets	156		37
Accounts payable	152		30
Accrued liabilities	529		456
Total current liabilities	$ 681		$ 486

Net (Loss) Income Per Share - S

Net (Loss) Income Per Share - Summary of calculation of basic and diluted net income (loss) per share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net income (loss) attributable to common stockholders, basic	$ (5,666)	$ 7,479
Net income (loss) attributable to common stockholders, diluted	$ (5,666)	$ 7,479
Weighted average common stock outstanding:
Basic (in shares)	80,659,978	79,974,071
Diluted (in shares)	80,659,978	82,228,936
Net (loss) income per share:
Basic (in dollars per share)	$ (0.07)	$ 0.09
Diluted (in dollars per share)	$ (0.07)	$ 0.09
Restricted stock awards, unvested
Weighted average common stock outstanding:
Effect of dilutive securities (shares)	0	488,291
Restricted stock units, unvested
Weighted average common stock outstanding:
Effect of dilutive securities (shares)	0	27,120
Purchase rights committed under the ESPP
Weighted average common stock outstanding:
Effect of dilutive securities (shares)	0	3,179
Stock options
Weighted average common stock outstanding:
Effect of dilutive securities (shares)	0	1,736,275

Net (Loss) Income Per Share -_2

Net (Loss) Income 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	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,618,477	2,351,017
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)	2,017,496	1,476,592
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)	600,981	874,425

Restructuring Activities (Detai

Restructuring Activities (Details) - USD ($) $ in Thousands		3 Months Ended
	Feb. 24, 2023	Mar. 31, 2023	Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring related costs		$ 2,904	$ 0
The "Plan"
Restructuring Cost and Reserve [Line Items]
Reduction in current workforce	9%
The "Plan" | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 2,500
The "Plan" | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 3,500
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring related costs		2,900
Accrued severance and related costs		600
Previously vested stock based compensation
Restructuring Cost and Reserve [Line Items]
Restructuring related costs		$ 300

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Thousands			3 Months Ended
	Nov. 04, 2022	Apr. 01, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Acquisition related costs			$ 0	$ 2,283
Escrow deposit			30,000		$ 30,000
Purchase accounting adjustments, goodwill			245	0
Beanstalk Networks, L.L.C. (OpenClose)
Business Acquisition [Line Items]
Cash consideration, gross	$ 63,100
Acquisition related costs	$ 1,900
Business acquisition, pro forma revenue				76,200
Business acquisition, pro forma net income (loss)				$ 6,400
StreetShares
Business Acquisition [Line Items]
Cash consideration, gross		$ 28,000
Acquisition related costs		1,600
Escrow deposit		$ 30,000
Purchase accounting adjustments, goodwill			$ 200

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - Restricted stock units (RSUs) $ in Millions	1 Months Ended
	Apr. 30, 2023 USD ($)
Subsequent Event [Line Items]
Service-based RSUs awarded	$ 43.6
Vesting period	4 years