PowerSchool (PWSC) 10-Q 7 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	Apr. 30, 2024	Jan. 31, 2024	Dec. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40684
Entity Registrant Name	PowerSchool Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-4166024
Entity Address, Address Line One	150 Parkshore Drive
Entity Address, City or Town	Folsom
Entity Address, Postal Zip Code	95630(Zip Code)
City Area Code	(877)
Local Phone Number	873-1550
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	PWSC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		203,652,282
Entity Central Index Key	0001835681
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		203,652,282
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-40684
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-4166024
Entity Address, City or Town	Folsom
Entity Address, Address Line One	150 Parkshore Drive
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95630(Zip Code)
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	PWSC
Security Exchange Name	NYSE
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
Document Period End Date	Mar. 31, 2024
Entity Central Index Key	0001835681
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class B common stock
Document Information [Line Items]
Common stock, shares outstanding (in shares)			37,654,059	37,654,059
Class A common stock
Document Information [Line Items]
Common stock, shares outstanding (in shares)				164,796,626

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 17,425	$ 39,054
Accounts receivable—net of allowance of $6,543 and $7,930 respectively	61,121	76,618
Prepaid expenses and other current assets	51,609	40,449
Total current assets	130,155	156,121
Property and equipment - net	8,181	5,003
Capitalized product development costs - net	112,810	112,089
Goodwill	2,770,971	2,740,725
Intangible assets - net	692,953	710,635
Other assets	35,897	36,311
Total assets	3,766,867	3,776,882
Current Liabilities:
Accounts payable	12,686	13,629
Accrued expenses	110,858	116,271
Deferred revenue, current	275,461	373,672
Revolving credit facility	125,000	0
Current portion of long-term debt	8,379	8,379
Total current liabilities	536,221	516,909
Noncurrent Liabilities:
Other liabilities	1,902	2,178
Deferred taxes	276,629	275,316
Tax Receivable Agreement liability	375,647	396,397
Deferred revenue—net of current	8,196	6,111
Long-term debt, net	810,497	811,325
Total liabilities	2,022,553	2,021,595
Commitments and Contingencies
Stockholders' Equity:
Additional paid-in capital	1,532,371	1,520,288
Accumulated other comprehensive loss	(2,828)	(2,094)
Accumulated deficit	(237,945)	(218,387)
Total stockholders' equity attributable to PowerSchool Holdings, Inc.	1,291,618
Non-controlling interest	452,696
Total stockholders' equity	1,744,314	1,755,287
Total stockholders' equity attributable to PowerSchool Holdings, Inc.		1,299,827
Non-controlling interest		455,460
Total stockholders' equity		1,755,287
Total liabilities and stockholders' equity	3,766,867	3,776,882
Operating Lease, Liability, Current	3,837	4,958
Increase in operating lease, right-of-use assets	15,900	15,998
Operating Lease, Liability, Noncurrent	13,461	13,359
Less allowance	$ (6,543)	$ (7,930)
Class A common stock
Stockholders' Equity:
Common stock, shares outstanding (in shares)		164,796,626
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock	$ 16	$ 16
Common stock, shares issued (in shares)	165,726,673	164,796,626
Class B common stock
Stockholders' Equity:
Common stock, shares outstanding (in shares)		37,654,059
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock	$ 4	$ 4
Common stock, shares issued (in shares)		37,654,059

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Jan. 31, 2024	Dec. 31, 2023
Accounts receivable, allowance for credit losses	$ 6,543		$ 7,930
Class A common stock
Common stock, par value (in dollars per share)	$ 0.0001		$ 0.0001
Common stock, shares authorized (in shares)	500,000,000		500,000,000
Common stock, shares issued (in shares)	165,726,673		164,796,626
Common stock, shares outstanding (in shares)			164,796,626
Class B common stock
Common stock, par value (in dollars per share)	$ 0.0001		$ 0.0001
Common stock, shares authorized (in shares)	300,000,000		300,000,000
Common stock, shares issued (in shares)			37,654,059
Common stock, shares outstanding (in shares)		37,654,059	37,654,059

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Total revenue	$ 184,967	$ 159,454
Cost of revenue:
Depreciation and amortization	19,080	16,021
Total cost of revenue	79,861	69,489
Gross profit	105,106	89,965
Operating expenses:
Research and development	31,651	25,421
Selling, general, and administrative	52,432	49,558
Acquisition costs	753	0
Depreciation and amortization	17,349	15,771
Total operating expenses	102,185	90,750
Income (loss) from operations	2,921	(785)
Interest expense—net	20,996	14,029
Other expenses (income)—net	(99)	44
Loss before income taxes	(17,976)	(14,858)
Income tax benefit	4,872	(45)
Net loss	(22,848)	(14,813)
Less: Net loss attributable to non-controlling interest	(3,290)	(2,960)
Net loss attributable to PowerSchool Holdings, Inc.	(19,558)	(11,853)
Net Income (Loss) Available to Common Stockholders, Basic	(19,558)	(11,853)
Net Income (Loss) Available to Common Stockholders, Diluted	$ (24,131)	$ (11,853)
Net loss attributable to the PowerSchool Holdings, Inc. per share of Class A common stock - basic (in dollars per share)	$ (0.12)	$ (0.07)
Net loss attributable to the PowerSchool Holdings, Inc. per share of Class A common stock - diluted (in dollars per share)	$ (0.12)	$ (0.07)
Weighted average shares of Class A common stock outstanding - basic (in shares)	165,037,089	160,506,571
Weighted average shares of Class A common stock outstanding - diluted (in shares)	202,691,148	160,506,571
Foreign currency translation	$ (734)	$ 86
Unrealized Gain (Loss) on Investments	0	3
Total other comprehensive income (loss)	(734)	89
Less: Other comprehensive income (loss) attributable to non-controlling interest	(136)	17
Comprehensive loss attributable to PowerSchool Holdings, Inc.	(20,156)	(11,781)
Subscriptions and support
Revenue:
Total revenue	166,927	141,073
Cost of revenue:
Cost of revenue, excluding depreciation and amortization	46,327	38,194
Service
Revenue:
Total revenue	16,686	16,233
Cost of revenue:
Cost of revenue, excluding depreciation and amortization	13,383	14,323
License and other
Revenue:
Total revenue	1,354	2,148
Cost of revenue:
Cost of revenue, excluding depreciation and amortization	$ 1,071	$ 951

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’/ MEMBERS’ EQUITY - USD ($) $ in Thousands	Total	Class A common stock	Class B common stock	Common stock Class A common stock	Common stock Class B common stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated deficit	Non-controlling interest
Stockholder's equity, beginning balance (in shares) at Dec. 31, 2022				159,596,000	39,928,000
Stockholder's equity, beginning balance at Dec. 31, 2022	$ 1,733,944			$ 16	$ 4	$ 1,438,019	$ (2,122)	$ (187,250)	$ 485,277
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Management incentive unit and stock-based compensation	15,280					15,280
Other Comprehensive Income (Loss), Net of Tax	89						89
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(14,813)							(11,853)	(2,960)
Adjustment to deferred taxes	(1,255)					(1,255)
Issuance of common stock upon vesting of Restricted Stock Awards (in shares)				1,000,000
Allocation of equity to non-controlling interests						(772)			772
Stock Issued During Period, Value, Conversion of Units		$ (2,274)	$ 2,274			27,642			(27,642)
Stockholder's equity, ending balance (in shares) at Mar. 31, 2023				162,870,000	37,654,000
Stockholder's equity, ending balance at Mar. 31, 2023	1,731,961			$ 16	$ 4	1,477,630	(2,033)	(199,103)	455,447
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	1,284					(1,284)
Member's investment, beginning balance at Dec. 31, 2023	1,299,827
Stockholder's equity, beginning balance (in shares) at Dec. 31, 2023				164,796,000	37,654,000
Stockholder's equity, beginning balance at Dec. 31, 2023	1,755,287			$ 16	$ 4	1,520,288	(2,094)	(218,387)	455,460
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Management incentive unit and stock-based compensation	14,843					14,843
Other Comprehensive Income (Loss), Net of Tax	(734)						(734)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(22,848)							(19,558)	(3,290)
Adjustment to deferred taxes	(2,169)					(2,169)
Issuance of common stock upon vesting of Restricted Stock Awards (in shares)				931,000
Allocation of equity to non-controlling interests						(526)			526
Stockholder's equity, ending balance (in shares) at Mar. 31, 2024				165,727,000	37,654,000
Stockholder's equity, ending balance at Mar. 31, 2024	1,744,314			$ 16	$ 4	1,532,371	$ (2,828)	$ (237,945)	$ 452,696
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	$ 65					$ (65)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (22,848)	$ (14,813)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation, Depletion and Amortization	36,429	31,792
Share-based Payment Arrangement, Noncash Expense	14,155	14,549
Operating Lease, Right-of-Use Asset, Periodic Reduction	851	788
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	20	(450)
Amortization of Debt Issuance Costs	1,487	876
Accounts Receivable, Credit Loss Expense (Reversal)	(1,272)	369
Gain (Loss) on Termination of Lease	(37)	52
Gain (Loss) on Disposition of Property Plant Equipment	(816)	(48)
Increase (Decrease) in Operating Capital [Abstract]
Increase (Decrease) in Accounts Receivable	17,748	8,360
Increase (Decrease) in Prepaid Expense and Other Assets	(9,922)	(7,135)
Increase (Decrease) in Other Noncurrent Assets	191	(2,283)
Increase (Decrease) in Accounts Payable	(646)	250
Increase (Decrease) in Accrued Liabilities	(25,371)	(16,512)
Increase (Decrease) in Other Noncurrent Liabilities	(1,654)	(1,753)
Increase (Decrease) in Deferred Income Taxes	4,533	(494)
Increase (Decrease) in Tax Receivable Agreement Liability	323	16
Increase (Decrease) in Contract with Customer, Liability	(102,856)	(73,687)
Net Cash Provided by (Used in) Operating Activities, Total	(89,685)	(60,027)
Net Cash Provided by (Used in) Investing Activities [Abstract]
Payments to Acquire Property, Plant, and Equipment	(3,887)	(356)
Payments to Develop Software	(8,956)	(9,676)
Payments to Acquire Businesses, Net of Cash Acquired	(36,062)	0
Payment for Contingent Consideration Liability, Investing Activities	(5,800)
Net Cash Provided by (Used in) Investing Activities, Total	(54,705)	(10,032)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Payment, Tax Withholding, Share-based Payment Arrangement	(65)	(1,284)
Proceeds from Long-term Lines of Credit	140,000	0
Payment for Contingent Consideration Liability, Financing Activities	(245)
Net Cash Provided by (Used in) Financing Activities, Total	122,595	(3,222)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	166	73
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	(21,629)	(73,208)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance	39,554	137,981
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance		64,773
Supplemental Cash Flow Information [Abstract]
Interest Paid, Excluding Capitalized Interest, Operating Activities	19,129	13,695
Income Taxes Paid, Net	890	390
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Capital Expenditures Incurred but Not yet Paid	507	317
Interest Costs Capitalized	374	296
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents		64,273
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Total		64,773
Revolving Credit
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of lines of credit	(15,000)	0
First Lien Debt
Net Cash Provided by (Used in) Financing Activities [Abstract]
Repayments of lines of credit	$ (2,095)	$ (1,938)

BUSINESS

BUSINESS	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Background and Nature of Operations PowerSchool Holdings, Inc. (the “Company,” “PowerSchool,” “we,” “us,” or “our” ) was formed as a Delaware corporation on November 30, 2020 for the purpose of completing an initial public offering (“IPO”) and a series of transactions in order to carry on the business of PowerSchool Holdings LLC (“Holdings LLC”), formerly known as Severin Holdings, LLC . Our Principal Stockholders are Onex Partners Managers LP (“Onex”) and Vista Equity Partners (“Vista”). The transactions included amendments to the Company’s operating agreement to modify its capital structure by replacing the membership interests then held by its existing owners with a new class of membership interests (“LLC Units”) held initially by Severin Topco LLC (“Topco LLC”), a portion of which have a participation threshold (the “Participation Units”) and appointing the Company as the sole managing member of Holdings LLC; issuance of unrestricted and restricted Class A common stock in exchange for vested and unvested pre-IPO share-based awards, issuance of 39,928,472 shares of Class B common stock, par value $0.0001 per share to Topco LLC, on a one-to-one basis with the number of LLC Units (other than Participation Units), restructuring of certain entities (“Blocker Entities”) associated with the Principal Stockholders, and execution of an exchange agreement (the “Exchange Agreement”) with Topco LLC. Pursuant to the Exchange Agreement, Topco LLC is entitled to exchange LLC Units (other than Participation Units), together with an equal number of shares of Class B common stock, for shares of Class A common stock on a one-for-one basis or, at its election, for cash from a substantially concurrent public offering or private sale. Participation Units may be exchanged for a number of shares of Class A common stock based on an exchange formula that takes into account the current value of a share of Class A common stock and a pre-determined participation threshold. Additionally, the Company entered into a tax receivable agreement (the “TRA”) with Topco LLC, and the Principal Stockholders that provides for the payment by the Company to Topco LLC and the Principal Stockholders, collectively, of 85% of the amount of cash savings, if any, in U.S. federal, state and local income taxes. Collectively, these transactions are referred to as “Organizational Transactions”. The Company’s cloud platform is an integrated, enterprise-scale suite of solutions purpose-built for the K-12 education market. The Company’s platform is embedded in school workflows and is used by educators, students, administrators, and parents. Its cloud-based technology platform helps schools and districts efficiently manage state reporting and related compliance, special education, finance, human resources, talent, registration, attendance, funding, learning, instruction, grading, assessments, communications, and analytics in one unified platform. The Company’s integrated technology approach streamlines operations, aggregates disparate data sets, and develops insights using predictive modelling and machine learning. The Company is headquartered in Folsom, California, and together with its subsidiaries has locations in the United States (“U.S.”), Canada, India, and the United Arab Emirates.

PROPERTY AND EQUIPMENT_NET

PROPERTY AND EQUIPMENT—NET	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT—NET	PROPERTY AND EQUIPMENT—NET Property and equipment by category are as follows (in thousands): March 31, 2024 December 31, 2023 Computer and software 15,524 16,073 Furniture and fixtures 1,568 1,641 Leasehold improvements 5,514 2,387 Property and equipment 22,606 20,101 Less accumulated depreciation (14,425) (15,098) Property and equipment—net $ 8,181 $ 5,003

CAPITALIZED PRODUCT DEVELOPMENT

CAPITALIZED PRODUCT DEVELOPMENT COSTS—NET	3 Months Ended
	Mar. 31, 2024
Research and Development [Abstract]
CAPITALIZED PRODUCT DEVELOPMENT COSTS—NET	CAPITALIZED PRODUCT DEVELOPMENT COSTS—NET Capitalized product development costs and related accumulated amortization consist of the following (in thousands): March 31, 2024 December 31, 2023 Gross capitalized product development costs $ 204,070 $ 194,341 Less accumulated amortization (91,260) (82,252) Capitalized product development costs—net $ 112,810 $ 112,089 Intangible assets are amortized using the straight-line method based on the expected useful lives of the assets. The carrying values of acquired amortizing intangible assets are as follows (in thousands): March 31, 2024 Weighted- Average Useful Life December 31, 2023 Weighted- Average Useful Life Intangible Assets—Gross Developed technology $ 327,273 8 years $ 321,957 8 years Customer relationships 793,882 14 years 791,253 14 years Trademarks 62,387 9 years 61,595 9 years Other 259 3 years 259 3 years $ 1,183,801 $ 1,175,064 Accumulated Amortization Developed technology $ (179,640) $ (169,777) Customer relationships (281,406) (266,473) Trademarks (29,694) (28,092) Other (108) (87) $ (490,848) $ (464,429) Intangible Assets—Net Developed technology $ 147,633 $ 152,180 Customer relationships 512,476 524,780 Trademarks 32,693 33,503 Other 151 172 $ 692,953 $ 710,635 Amortization of developed technology is recorded in cost of revenue, while the amortization of trademarks, customer relationships and other intangibles is included in operating expense on the Company’s consolidated statements of operations and comprehensive loss.

OTHER INTANGIBLE ASSETS_NET

OTHER INTANGIBLE ASSETS—NET	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
OTHER INTANGIBLE ASSETS—NET	CAPITALIZED PRODUCT DEVELOPMENT COSTS—NET Capitalized product development costs and related accumulated amortization consist of the following (in thousands): March 31, 2024 December 31, 2023 Gross capitalized product development costs $ 204,070 $ 194,341 Less accumulated amortization (91,260) (82,252) Capitalized product development costs—net $ 112,810 $ 112,089 Intangible assets are amortized using the straight-line method based on the expected useful lives of the assets. The carrying values of acquired amortizing intangible assets are as follows (in thousands): March 31, 2024 Weighted- Average Useful Life December 31, 2023 Weighted- Average Useful Life Intangible Assets—Gross Developed technology $ 327,273 8 years $ 321,957 8 years Customer relationships 793,882 14 years 791,253 14 years Trademarks 62,387 9 years 61,595 9 years Other 259 3 years 259 3 years $ 1,183,801 $ 1,175,064 Accumulated Amortization Developed technology $ (179,640) $ (169,777) Customer relationships (281,406) (266,473) Trademarks (29,694) (28,092) Other (108) (87) $ (490,848) $ (464,429) Intangible Assets—Net Developed technology $ 147,633 $ 152,180 Customer relationships 512,476 524,780 Trademarks 32,693 33,503 Other 151 172 $ 692,953 $ 710,635 Amortization of developed technology is recorded in cost of revenue, while the amortization of trademarks, customer relationships and other intangibles is included in operating expense on the Company’s consolidated statements of operations and comprehensive loss.

ACCRUED EXPENSES

ACCRUED EXPENSES	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES The following table presents the detail of accrued expenses (in thousands): March 31, 2024 December 31, 2023 Accrued compensation $ 23,575 $ 43,075 Accrued interest 13,197 12,654 Accrued taxes 1,896 1,530 TRA liability, current 43,030 21,957 Other accrued expenses 29,160 37,055 Total accrued expenses $ 110,858 $ 116,271

LONG-TERM DEBT AND REVOLVING CR

LONG-TERM DEBT AND REVOLVING CREDIT AGREEMENT	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
LONG-TERM DEBT AND REVOLVING CREDIT AGREEMENT	LONG-TERM DEBT AND REVOLVING CREDIT AGREEMENT First Lien Credit Agreement (“First Lien”) In August 2018, the Company entered into a loan agreement with a consortium of lenders which provided $775.0 million of term loans. The First Lien also provided a Revolving Credit Agreement, discussed in more detail below. On July 31, 2023, the Company entered into an incremental facility to the First Lien to borrow an additional $100.0 million aggregate principal amount of incremental term loans, increasing the principal balance outstanding under the First Lien to $840.1 million as of the date of the amendment. Debt issuance costs of $0.8 million were recorded as a reduction to the carrying value of the related debt. On October 12, 2023, the Company amended the First Lien to extend the maturity date on the agreement from July 31, 2025 to August 1, 2027. Debt issuance costs of $13.1 million were recorded as a reduction to the carrying value of the related debt. The amended First Lien is repayable in quarterly payments of $2.1 million through August 1, 2027, with all remaining outstanding principal due on August 1, 2027. As of March 31, 2024, the interest rate for the First Lien is the rate per annum equal to the Secured Overnight Financing Rate (“SOFR”), plus the applicable margin. The applicable margin is initially 3.25% per annum with a 0.25% step down based on the First Lien Net Leverage Ratio. The interest rate for the First Lien as of March 31, 2024 and December 31, 2023 was 8.31% and 8.38%, respectively. The First Lien is collateralized on a first lien basis by certain assets and property of the Company and includes covenants that among other things limit our ability to incur additional debt or issue dividends. As of March 31, 2024, we were in compliance with all covenants associated with the First Lien. Revolving Credit Agreement The First Lien provides for a Revolving Credit Agreement allowing the Company to borrow funds from time to time. In July 2021, the Revolving Credit Agreement was amended and permitted the Company to borrow up to $289.0 million. On October 12, 2023, the Revolving Credit Agreement was further amended to permit the Company to borrow up to $400.0 million and extended the maturity date from May 2, 2025 to May 2, 2027. In connection with the increase of the borrowing capacity and the extension of the maturity date, the Company paid fees of $2.0 million, which was recorded as capitalized debt issuance cost and presented within other assets on the consolidated balance sheet . The interest rate is equal to SOFR, plus the applicable margin. The applicable margin is initially 3.25% per annum with up to a 0.50% step down based on the First Lien Net Leverage Ratio. We are also required to pay a commitment fee on the unused portion of the Revolving Credit Agreement of 0.50% per annum with up to a 0.25% step down based on the First Lien Net Leverage Ratio, payable quarterly in arrears. During the three months ended March 31, 2024, the Company borrowed $140.0 million on the Revolving Credit Agreement. As of March 31, 2024, the outstanding balance on the revolving credit facility was $125.0 million and there was no outstanding balance on the facility as of December 31, 2023. The Revolving Credit Agreement requires the Company to maintain a First Lien Net Leverage Ratio (as defined therein) of not more than 7.75 to 1.00 if the Company has an outstanding balance on the Revolving Credit Agreement of greater than 35% of the borrowing capacity (excluding certain letters of credit) at a quarter end. As of March 31, 2024 and 2023, the Company’s outstanding balances under the Revolving Credit Agreement were less than 35% of the borrowing capacity. The following table presents the outstanding long-term debt (in thousands): March 31, 2024 December 31, 2023 Total outstanding principal—First Lien $ 835,831 $ 837,926 Less current portion of long-term debt (8,379) (8,379) Less unamortized debt discount (4,496) (4,832) Less unamortized debt issuance costs (12,459) (13,390) Total long-term debt—net $ 810,497 $ 811,325 Maturities on long-term debt outstanding as of March 31, 2024 are as follows (in thousands): Year Ending December 31, 2024 (remaining nine months) $ 6,284 2025 8,379 2026 8,379 2027 812,789 Total $ 835,831

STOCKHOLDERS_ EQUITY AND NON-CO

STOCKHOLDERS’ EQUITY AND NON-CONTROLLING INTEREST	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
STOCKHOLDERS’ EQUITY AND NON-CONTROLLING INTEREST	STOCKHOLDERS’ EQUITY AND NON-CONTROLLING INTEREST Stockholders’ Equity The Company amended and restated its certificate of incorporation effective July 27, 2021 to authorize (i) 50,000,000 shares of preferred stock, par value $0.0001 per share, (ii) 500,000,000 shares of Class A common stock, par value $0.0001 per share, and (iii) 300,000,000 shares of Class B common stock, par value $0.0001 per share. Holders of our Class A common stock and Class B common stock vote together as a single class on all matters presented to stockholders for their vote or approval, except as otherwise required by law. Each share of Class A common stock and Class B common stock entitles its holder to one vote on all matters presented to our stockholders generally. As of March 31, 2024, t he holders of our issued Class A common stock collectively represented approximately 81.5% of the economic interest and voting power in the Company and Class B common stock collectively represented approximately 18.5% of the voting power in the Company. As of December 31, 2023, the Class B common stock collectively held approximately 18.6% of the voting power in the Company. Non-controlling interest The weighted average non-controlling interest percentage used to calculate the net loss and other comprehensive loss attributable to the non-controlling interest holders in the three months ended March 31, 2024 and 2023 was 18.6% and 19.6%, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	In April 2024, the Company borrowed an additional $30.0 million on its Revolving Credit Agreement. As of May 7, 2024, the outstanding balance on the Revolving Credit Agreement was $155.0 million .

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss)	$ (19,558)	$ (11,853)

Insider Trading Arrangements

Insider Trading Arrangements	Mar. 12, 2024	Feb. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	true	true

PROPERTY AND EQUIPMENT_NET (Tab

PROPERTY AND EQUIPMENT—NET (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment by Category	Property and equipment by category are as follows (in thousands): March 31, 2024 December 31, 2023 Computer and software 15,524 16,073 Furniture and fixtures 1,568 1,641 Leasehold improvements 5,514 2,387 Property and equipment 22,606 20,101 Less accumulated depreciation (14,425) (15,098) Property and equipment—net $ 8,181 $ 5,003

CAPITALIZED PRODUCT DEVELOPME_2

CAPITALIZED PRODUCT DEVELOPMENT COSTS—NET (Tables)	3 Months Ended
	Mar. 31, 2024
Research and Development [Abstract]
Schedule of Capitalized Product Development Costs	Capitalized product development costs and related accumulated amortization consist of the following (in thousands): March 31, 2024 December 31, 2023 Gross capitalized product development costs $ 204,070 $ 194,341 Less accumulated amortization (91,260) (82,252) Capitalized product development costs—net $ 112,810 $ 112,089 March 31, 2024 Weighted- Average Useful Life December 31, 2023 Weighted- Average Useful Life Intangible Assets—Gross Developed technology $ 327,273 8 years $ 321,957 8 years Customer relationships 793,882 14 years 791,253 14 years Trademarks 62,387 9 years 61,595 9 years Other 259 3 years 259 3 years $ 1,183,801 $ 1,175,064 Accumulated Amortization Developed technology $ (179,640) $ (169,777) Customer relationships (281,406) (266,473) Trademarks (29,694) (28,092) Other (108) (87) $ (490,848) $ (464,429) Intangible Assets—Net Developed technology $ 147,633 $ 152,180 Customer relationships 512,476 524,780 Trademarks 32,693 33,503 Other 151 172 $ 692,953 $ 710,635

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amounts of goodwill were as follows (in thousands): Balance—December 31, 2023 $ 2,740,725 Additions due to acquisition 31,035 Other adjustments 1 (789) Balance—March 31, 2024 $ 2,770,971 _____________ 1 Includes adjustments of acquisition-date fair value within the one-year measurement period and effects of foreign currency translation.

OTHER INTANGIBLE ASSETS_NET (Ta

OTHER INTANGIBLE ASSETS—NET (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Values of Acquired Intangible Assets	Capitalized product development costs and related accumulated amortization consist of the following (in thousands): March 31, 2024 December 31, 2023 Gross capitalized product development costs $ 204,070 $ 194,341 Less accumulated amortization (91,260) (82,252) Capitalized product development costs—net $ 112,810 $ 112,089 March 31, 2024 Weighted- Average Useful Life December 31, 2023 Weighted- Average Useful Life Intangible Assets—Gross Developed technology $ 327,273 8 years $ 321,957 8 years Customer relationships 793,882 14 years 791,253 14 years Trademarks 62,387 9 years 61,595 9 years Other 259 3 years 259 3 years $ 1,183,801 $ 1,175,064 Accumulated Amortization Developed technology $ (179,640) $ (169,777) Customer relationships (281,406) (266,473) Trademarks (29,694) (28,092) Other (108) (87) $ (490,848) $ (464,429) Intangible Assets—Net Developed technology $ 147,633 $ 152,180 Customer relationships 512,476 524,780 Trademarks 32,693 33,503 Other 151 172 $ 692,953 $ 710,635

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	The following table presents the detail of accrued expenses (in thousands): March 31, 2024 December 31, 2023 Accrued compensation $ 23,575 $ 43,075 Accrued interest 13,197 12,654 Accrued taxes 1,896 1,530 TRA liability, current 43,030 21,957 Other accrued expenses 29,160 37,055 Total accrued expenses $ 110,858 $ 116,271

LONG-TERM DEBT AND REVOLVING _2

LONG-TERM DEBT AND REVOLVING CREDIT AGREEMENT (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Outstanding Long-Term Debt	The following table presents the outstanding long-term debt (in thousands): March 31, 2024 December 31, 2023 Total outstanding principal—First Lien $ 835,831 $ 837,926 Less current portion of long-term debt (8,379) (8,379) Less unamortized debt discount (4,496) (4,832) Less unamortized debt issuance costs (12,459) (13,390) Total long-term debt—net $ 810,497 $ 811,325
Schedule of Maturities of Long-Term Debt	Maturities on long-term debt outstanding as of March 31, 2024 are as follows (in thousands): Year Ending December 31, 2024 (remaining nine months) $ 6,284 2025 8,379 2026 8,379 2027 812,789 Total $ 835,831

BUSINESS (Details)

BUSINESS (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Jan. 31, 2024	Jul. 30, 2021
Class A common stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Common stock, shares outstanding (in shares)		164,796,626
Percentage of voting power	81.50%
Class A common stock | IPO
Class of Stock [Line Items]
Common stock, par value (in dollars per share)					$ 0.0001
Class B common stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Common stock, shares outstanding (in shares)		37,654,059		37,654,059
Percentage of voting power	18.50%	18.60%

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Increase in operating lease, right-of-use assets	$ 15,900		$ 15,998
Increase in operating lease liabilities		$ 17,298
Decrease in equity	$ (1,291,618)
Payments to affiliates, as a percentage of total tax benefits		85%

BUSINESS COMBINATIONS - Narrati

BUSINESS COMBINATIONS - Narrative (Details) - USD ($) $ in Thousands				3 Months Ended
	Jan. 22, 2024	Oct. 02, 2023	Aug. 09, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Acquisition costs				$ 753	$ 0
Goodwill				$ 2,770,971		$ 2,770,971	$ 2,740,725
Customer relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 43,600
Trademarks
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		8,100
Technology-Based Intangible Assets
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		26,500
Hobsons, Inc.
Business Acquisition [Line Items]
Consideration transferred			$ 10,000
Acquisition costs			700
Goodwill			5,700
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			(2,400)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			6,600
Hobsons, Inc. | Customer relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			4,900
Hobsons, Inc. | Trademarks
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			10
Hobsons, Inc. | Technology-Based Intangible Assets
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			$ 1,800
SchoolMessenger
Business Acquisition [Line Items]
Consideration transferred		300,266
Business Combination, Consideration Transferred, Liabilities Incurred		10,000
Acquisition costs		2,300
Goodwill		247,815
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		52,451
Payments to Acquire Businesses, Gross		$ 290,300
Allovue
Business Acquisition [Line Items]
Consideration transferred	$ 38,200
Business Combination, Consideration Transferred, Liabilities Incurred	1,200
Acquisition costs	1,300
Goodwill	31,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	1,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	9,000
Payments to Acquire Businesses, Gross	37,000
Allovue | Customer relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	2,800
Allovue | Trademarks
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	800
Allovue | Technology-Based Intangible Assets
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 5,400

BUSINESS COMBINATIONS - Assets

BUSINESS COMBINATIONS - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 02, 2023	Aug. 09, 2023	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill			$ 2,770,971	$ 2,770,971	$ 2,740,725
Trademarks
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 8,100
Customer relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	43,600
Technology-Based Intangible Assets
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	26,500
Hobsons, Inc.
Business Acquisition [Line Items]
Consideration transferred		$ 10,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		(2,400)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		6,600
Goodwill		5,700
Hobsons, Inc. | Trademarks
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		10
Hobsons, Inc. | Customer relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		4,900
Hobsons, Inc. | Technology-Based Intangible Assets
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		$ 1,800
SchoolMessenger
Business Acquisition [Line Items]
Consideration transferred	300,266
Payments to Acquire Businesses, Gross	290,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	14,027
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	(1,128)
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation	(409)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities	(539)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Deferred Revenue	(30,240)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	52,451
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	63
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Assets	409
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	2,326
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	(2,169)
Goodwill	247,815
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	93,827
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	$ (5,693)

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 184,967	$ 159,454
United States
Disaggregation of Revenue [Line Items]
Total revenue	170,172	148,807
Canada
Disaggregation of Revenue [Line Items]
Total revenue	11,004	8,178
Other
Disaggregation of Revenue [Line Items]
Total revenue	3,791	2,469
SaaS
Disaggregation of Revenue [Line Items]
Total revenue	138,316	113,964
Professional services
Disaggregation of Revenue [Line Items]
Total revenue	16,686	16,233
Software maintenance
Disaggregation of Revenue [Line Items]
Total revenue	28,611	27,109
License and other
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,354	$ 2,148

REVENUE - Changes in Deferred R

REVENUE - Changes in Deferred Revenues (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2020
Contract with Customer, Liability [Roll Forward]
Balance at beginning of period	$ 379,783
Decrease from revenue recognized	(150,512)	$ (311,189)
Increase from acquisitions	5,148	20,526
Increase from current year net deferred revenue additions	49,238	$ 354,607
Balance at end of period	$ 283,657

REVENUE - Performance Obligatio

REVENUE - Performance Obligations (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01	Dec. 31, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligations expected to be recognized	97%
Performance obligations expected to be recognized, expected timing	12 months

REVENUE - Contract Cost Assets

REVENUE - Contract Cost Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract costs, current			$ 7,900	$ 7,695
Contract costs, noncurrent			27,933	28,473
Total contract costs			$ 35,833	$ 36,168
Amortization expense for contract costs	$ 1,900	$ 1,500

ACCOUNTS RECEIVABLE - Schedule

ACCOUNTS RECEIVABLE - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Less allowance	$ (6,543)	$ (7,930)
Accounts receivable—net	$ 61,121	$ 76,618

ACCOUNTS RECEIVABLE - Schedul_2

ACCOUNTS RECEIVABLE - Schedule of Allowance for Credit Loss (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts, beginning balance	$ 7,930
Allowance for doubtful accounts, ending balance	$ 6,543

PROPERTY AND EQUIPMENT_NET (Det

PROPERTY AND EQUIPMENT—NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment			$ 22,606	$ 20,101
Less accumulated depreciation			(14,425)	(15,098)
Property and equipment—net			8,181	5,003
Depreciation	$ 900	$ 900
Computer and software
Property, Plant and Equipment [Line Items]
Property and equipment			15,524	16,073
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment			1,568	1,641
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment			$ 5,514	$ 2,387

CAPITALIZED PRODUCT DEVELOPME_3

CAPITALIZED PRODUCT DEVELOPMENT COSTS—NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Gross capitalized product development costs			$ 204,070	$ 194,341
Less accumulated amortization			(91,260)	(82,252)
Capitalized product development costs—net			112,810	112,089
Capitalized Computer Software, Amortization Expense, Maturity Schedule [Abstract]
45382			78,730
2025			104,854
2026			92,412
2027			76,049
2028			73,664
2029			267,244
Thereafter			$ 692,953	$ 710,635
Capitalized Product Development Projects
Capitalized Computer Software, Amortization Expense, Maturity Schedule [Abstract]
Capitalized Computer Software, Amortization	$ 9,100	$ 7,200

GOODWILL (Details)

GOODWILL (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 2,740,725
Additions due to acquisitions	31,035
Other adjustments	(789)
Ending balance	$ 2,770,971

OTHER INTANGIBLE ASSETS_NET - C

OTHER INTANGIBLE ASSETS—NET - Carrying Values of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible Assets—Gross	$ 1,183,801		$ 1,175,064
Accumulated Amortization	(490,848)		(464,429)
Thereafter	692,953		710,635
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible Assets—Gross	327,273		321,957
Accumulated Amortization	(179,640)		(169,777)
Thereafter	$ 147,633		$ 152,180
Weighted- Average Useful Life	8 years		8 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible Assets—Gross	$ 793,882		$ 791,253
Accumulated Amortization	(281,406)		(266,473)
Thereafter	$ 512,476		$ 524,780
Weighted- Average Useful Life	14 years		14 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible Assets—Gross	$ 62,387		$ 61,595
Accumulated Amortization	(29,694)		(28,092)
Thereafter	$ 32,693		$ 33,503
Weighted- Average Useful Life	9 years		9 years
License and other
Finite-Lived Intangible Assets [Line Items]
Intangible Assets—Gross	$ 259	$ 259
Accumulated Amortization	(108)
Thereafter	$ 151
Weighted- Average Useful Life	3 years		3 years

OTHER INTANGIBLE ASSETS_NET - A

OTHER INTANGIBLE ASSETS—NET - Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 26,435	$ 23,679
Cost of revenue
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	9,872	8,574
Selling, general, and administrative
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 16,563	$ 15,105

OTHER INTANGIBLE ASSETS_NET - E

OTHER INTANGIBLE ASSETS—NET - Estimated Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
45382	$ 78,730
2025	104,854
2026	92,412
2027	76,049
2028	73,664
2029	267,244
Thereafter	$ 692,953	$ 710,635

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued compensation			$ 23,575	$ 43,075
Accrued interest			13,197	12,654
Accrued taxes			1,896	1,530
Other accrued expenses			29,160	37,055
Total accrued expenses			$ 110,858	$ 116,271
Payment for Contingent Consideration Liability, Investing Activities	$ (5,800)
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	20	$ (450)
Tax Receivable Agreement liability, current	$ 43,000

Leases, Codification Topic 842

Leases, Codification Topic 842 (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Aug. 03, 2023
Leases [Abstract]
Operating Lease, Cost	$ 1,166	$ 954
Short-term Lease, Cost	30	17
Variable Lease, Cost	384	374
Lease, Cost	1,580	1,345
Operating Lease, Payments	2,041	1,769
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	786	0
Lessee, Operating Lease, Liability, to be Paid, Year Two	3,559
Lessee, Operating Lease, Liability, to be Paid, Year Three	1,987
Lessee, Operating Lease, Liability, to be Paid, Year Four	1,913
Lessee, Operating Lease, Liability, to be Paid, Year Five	1,904
Lessee, Operating Lease, Liability, to be Paid, after Year Five	9,659
Lessee, Operating Lease, Liability, to be Paid	22,830
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	5,532
Increase in operating lease liabilities	$ 17,298
Operating Lease, Weighted Average Remaining Lease Term	7 years 2 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	7.10%
Rent expense		$ 1,000
Increase in operating lease, right-of-use assets			$ 15,900	$ 15,998
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 3,808
Rent expense	1,200
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Liability, to be Paid	22,830
Increase in operating lease liabilities	17,298
Increase in operating lease, right-of-use assets			$ 15,900	$ 15,998
Lessee, Operating Lease, Liability, to be Paid, Year One	3,808
Lessee, Operating Lease, Liability, to be Paid, Year Two	3,559
Lessee, Operating Lease, Liability, to be Paid, Year Three	1,987
Lessee, Operating Lease, Liability, to be Paid, Year Four	1,913
Lessee, Operating Lease, Liability, to be Paid, Year Five	$ 1,904
Iris lease
Leases [Abstract]
Lessee, Operating Lease, Liability, to be Paid					$ 18,000
Increase in operating lease liabilities					12,200
Increase in operating lease, right-of-use assets					12,300
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Liability, to be Paid					18,000
Increase in operating lease liabilities					12,200
Increase in operating lease, right-of-use assets					$ 12,300

LONG-TERM DEBT AND REVOLVING _3

LONG-TERM DEBT AND REVOLVING CREDIT AGREEMENT - Narrative (Details) $ in Thousands				1 Months Ended	3 Months Ended
	Oct. 12, 2023 USD ($)	Jul. 31, 2023 USD ($)	Aug. 01, 2018 USD ($)	May 07, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 02, 2023	Jul. 30, 2021 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount						$ 840,100
Debt discounts						4,496	$ 4,832
Debt issuance costs						12,459	13,390
Borrowings from revolving credit facility				$ 30,000
Outstanding balance				$ 155,000		$ 125,000	$ 0
Debt Instrument, Periodic Payment					$ 2,100
Payment of debt issuance costs	$ 13,100	$ 800
Line of Credit Facility, Increase (Decrease), Net		$ 100,000
2021 (remaining three months)					6,284
Secured Debt | First Lien
Debt Instrument [Line Items]
Aggregate principal amount			$ 775,000
Percentage of principal due quarterly	0.25%
Secured Debt | First Lien | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin	3.25%
Interest rate						8.31%	8.38%
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 400,000								$ 289,000
Borrowings from revolving credit facility					$ 140,000
Commitment fee percentage					0.50%
First lien net coverage ratio								7.75
Outstanding balance as a percentage of borrowing capacity						35%	35%	35%
Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Applicable margin			3.25%
Step-down percentage			0.50%

LONG-TERM DEBT AND REVOLVING _4

LONG-TERM DEBT AND REVOLVING CREDIT AGREEMENT - Schedule of Outstanding Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Less current portion of long-term debt	$ (8,379)	$ (8,379)
Less unamortized debt discount	(4,496)	(4,832)
Less unamortized debt issuance costs	(12,459)	(13,390)
Total long-term debt—net	810,497	811,325
Secured Debt | First Lien
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 835,831	$ 837,926

LONG-TERM DEBT AND REVOLVING _5

LONG-TERM DEBT AND REVOLVING CREDIT AGREEMENT - Maturities of Long-Term Debt (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Maturities of Long-term Debt [Abstract]
2025	$ 8,379
2026	8,379
2027	812,789
Total	$ 835,831

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Commitments and Contingencies [Line Items]
Rent expense	$ 1.2
Estimated liability for incurred, but not reported, medical claims	1.8	$ 1.6
Data Center, Cloud Hosting Arrangements and Other Services
Commitments and Contingencies [Line Items]
Remaining aggregate minimum purchase commitment	$ 186.8

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Future Minimum Lease Payments (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 3,808
Lessee, Operating Lease, Liability, to be Paid, Year Two	3,559
Lessee, Operating Lease, Liability, to be Paid, Year Three	1,987
Lessee, Operating Lease, Liability, to be Paid, Year Four	1,913
Lessee, Operating Lease, Liability, to be Paid, Year Five	1,904
Lessee, Operating Lease, Liability, to be Paid, Total	$ 22,830

STOCKHOLDERS_ EQUITY AND NON-_2

STOCKHOLDERS’ EQUITY AND NON-CONTROLLING INTEREST (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Jan. 31, 2024	Mar. 31, 2023	Jul. 27, 2021
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)						50,000,000
Preferred stock, par value (in dollars per share)						$ 0.0001
PowerSchool Holdings, LLC
Class of Stock [Line Items]
Non-controlling interest percentage	18.60%				19.60%
Class A common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		500,000,000	500,000,000
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Common stock, shares issued (in shares)		164,796,626	165,726,673
Common stock, shares outstanding (in shares)		164,796,626
Percentage of voting power	81.50%
Class B common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)		300,000,000	300,000,000
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Common stock, shares issued (in shares)		37,654,059
Common stock, shares outstanding (in shares)		37,654,059		37,654,059
Percentage of voting power	18.50%	18.60%

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Jul. 30, 2021	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 14,155		$ 14,549
Future compensation cost related to unvested units					$ 124,600
Future compensation cost recognition period		2 years 3 months 18 days
Share-based Payment Arrangement, Amount Capitalized		$ 700		$ 700
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate			58%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate			3.70%
Aggregate intrinsic value (in USD)			$ 12,600
Management Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)		0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		474,846				474,846
Vested (in shares)		0
Units canceled (in shares)		0		0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value		$ 26.64				$ 26.64
Units granted (in dollars per share)		0
Weighted-average grant date-fair value, vested (in dollars per share)		$ 0
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)		198,260
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		6,030,515				7,170,788
Vested (in shares)		(1,048,340)
Units canceled (in shares)		(290,193)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value		$ 20.38				$ 20.22
Units granted (in dollars per share)		24.14
Weighted-average grant date-fair value, vested (in dollars per share)		20.23
Units canceled (in dollars per share)		$ 19.56
Restricted Stock Units | 2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)	19,315,000
Vesting percentage	25%
market share award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 1,300
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)		0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		7,629				16,530
Vested (in shares)		(8,901)
Units canceled (in shares)		0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value		$ 8.17				$ 8.19
Units granted (in dollars per share)		0
Weighted-average grant date-fair value, vested (in dollars per share)		8.20
Units canceled (in dollars per share)		$ 0

SHARE-BASED COMPENSATION - Sche

SHARE-BASED COMPENSATION - Schedule of MIU Activity (Details) - Management Incentive Units - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Number of Underlying Units
Beginning balance (in shares)	474,846
Units granted (in shares)	0
Units canceled (in shares)	0	0
Ending balance (in shares)	474,846
Number of underlying units, vested (in shares)	0
Weighted-Average Grant-Date Fair Value
Beginning balance (in dollars per share)	$ 26.64
Units granted (in dollars per share)	0
Ending balance (in dollars per share)	26.64
Weighted-average grant date-fair value, vested (in dollars per share)	$ 0

SHARE-BASED COMPENSATION - Sc_2

SHARE-BASED COMPENSATION - Schedule of Restricted Stock Unit and Restricted Stock Awards Activity (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Restricted Stock Units
Restricted Stock Units
Beginning balance (in shares) | shares	7,170,788
Granted (in shares) | shares	198,260
Vested (in shares) | shares	(1,048,340)
Canceled (in shares) | shares	(290,193)
Ending balance (in shares) | shares	6,030,515
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 20.22
Granted (in dollars per share) | $ / shares	24.14
Vested (in dollars per share) | $ / shares	20.23
Canceled (in dollars per share) | $ / shares	19.56
Ending balance (in dollars per share) | $ / shares	$ 20.38
Restricted Stock Awards
Restricted Stock Units
Beginning balance (in shares) | shares	16,530
Granted (in shares) | shares	0
Vested (in shares) | shares	(8,901)
Canceled (in shares) | shares	0
Ending balance (in shares) | shares	7,629
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 8.19
Granted (in dollars per share) | $ / shares	0
Vested (in dollars per share) | $ / shares	8.20
Canceled (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 8.17

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	$ 14,155	$ 14,549
Cost of revenue | Subscriptions and support
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	1,463	1,388
Cost of revenue | Service
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	679	811
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	3,480	3,729
Selling, general, and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	$ 8,533	$ 8,621

EARNINGS (LOSS) PER SHARE ATTRI

EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (EPS) - Schedule of Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (22,848)	$ (14,813)
Less: Net loss attributable to non-controlling interest	$ (3,290)	$ (2,960)
Denominator:
Weighted average shares of Class A common stock outstanding - basic (in shares)	165,037,089	160,506,571
Weighted average shares of Class A common stock outstanding - diluted (in shares)	202,691,148	160,506,571
Net loss attributable to the PowerSchool Holdings, Inc. per share of Class A common stock - basic (in dollars per share)	$ (0.12)	$ (0.07)
Net loss attributable to the PowerSchool Holdings, Inc. per share of Class A common stock - diluted (in dollars per share)	$ (0.12)	$ (0.07)
Net Income (Loss) Available to Common Stockholders, Basic	$ (19,558)	$ (11,853)
Net Income (Loss) Available to Common Stockholders, Diluted	(24,131)	(11,853)
Net income (loss)	(19,558)	(11,853)
Net Income (Loss) Attributable to Parent, Diluted	$ (24,131)	$ (11,853)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded from diluted EPS calculation (in shares)	6,512,990	47,665,644
LLC units
Denominator:
Unvested RSAs and RSUs (in shares)	37,654,059
Participating Securities, Distributed and Undistributed Earnings (Loss), Diluted	$ (4,573)
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Unvested RSAs and RSUs (in shares)	37,654,059
Participating Securities, Distributed and Undistributed Earnings (Loss), Diluted	$ (4,573)
Unvested RSAs and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded from diluted EPS calculation (in shares)	6,038,144	9,536,739
LLC units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded from diluted EPS calculation (in shares)	0	37,654,059
Member Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded from diluted EPS calculation (in shares)	474,846	474,846

EARNINGS (LOSS) PER SHARE ATT_2

EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (EPS) - Schedule of Antidilutive Shares (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded from diluted EPS calculation (in shares)	6,512,990	47,665,644
Unvested RSAs and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded from diluted EPS calculation (in shares)	6,038,144	9,536,739
LLC units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded from diluted EPS calculation (in shares)	0	37,654,059

INCOME TAXES - Income (Loss) be

INCOME TAXES - Income (Loss) before Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Loss before income taxes	$ (17,976)	$ (14,858)

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Deferred:
Total provision for income taxes	$ 4,872	$ (45)

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	(27.10%)	0.30%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($)
Income Tax Disclosure [Abstract]
Payments to affiliates, as a percentage of total tax benefits	85%
Income Tax Examination, Non-Current Liability	$ 375.6
Unrecognized tax benefits that would impact effective tax rate	$ 10.7

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Consulting and Implementation Services | Onex Partners Manager LP
Related Party Transaction [Line Items]
Amount of transactions with related parties		$ 0.1
Consulting and Implementation Services | Affiliated Entity with Common Ownership
Related Party Transaction [Line Items]
Purchases from related parties	$ 1.3	4.8
Amount of transactions with related parties		(0.2)
Reseller Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Amount of transactions with related parties	40.4
Costs and Expenses, Related Party	$ 4	2.3
Secondary offering | Affiliated Entity
Related Party Transaction [Line Items]
Costs and Expenses, Related Party		$ 1.4

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Retirement Benefits [Abstract]
Employer matching contributions	$ 2.7	$ 2.6

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands			1 Months Ended
	Jan. 22, 2024	Oct. 02, 2023	May 07, 2024
Subsequent Event [Line Items]
Borrowings from revolving credit facility			$ 30,000
Allovue
Subsequent Event [Line Items]
Consideration transferred	$ 38,200
SchoolMessenger
Subsequent Event [Line Items]
Consideration transferred		$ 300,266

Uncategorized Items - pwsc-2024

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 500,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	500,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	17,925,000
Contract with Customer, Liability	us-gaap_ContractWithCustomerLiability	$ 315,839,000