Paymentus (PAY) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 03, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	Paymentus Holdings, Inc.
Entity Central Index Key	0001841156
Entity File Number	001-40429
Entity Tax Identification Number	45-3188251
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	18390 NE
Entity Address Address Line2	68th St.
Entity Address, City or Town	Redmond
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98052
City Area Code	888
Local Phone Number	440-4826
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	PAY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock Shares Outstanding		18,038,296
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock Shares Outstanding		103,336,337

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 163,384	$ 168,386
Restricted funds for financial institutions	36,782
Accounts and other receivables, net of allowance of $192 and $102	51,913	43,935
Income tax receivable	8,583	2,488
Prepaid expenses and other current assets	7,366	8,184
Total current assets	268,028	256,436
Property and equipment, net of accumulated depreciation and amortization of $5,147 and $4,791	2,155	2,044
Capitalized internal-use software development costs, net	34,513	30,888
Intangible assets, net	40,039	42,088
Goodwill	129,417	129,413
Operating lease right-of-use assets	7,702	7,703
Deferred tax asset	1,052	163
Other long-term assets	4,707	4,207
Total assets	487,613	472,942
Current liabilities
Accounts payable	29,527	24,748
Accrued liabilities	12,503	12,491
Financial institution funds- in transit	36,782
Operating lease liabilities	1,356	1,456
Contract liabilities	1,253	2,173
Income tax payable		122
Total current liabilities	83,000	74,433
Deferred tax liability	5,600	3,318
Operating leases, net of current portion	6,552	6,463
Contract liabilities, net of current portion	2,581	1,713
Finance leases and other finance obligations, net of current portion	786	883
Total liabilities	98,519	86,810
Commitments and contingencies (Note 9)
Stockholders’ equity
Preferred Stock, Value, Issued	0	0
Additional paid-in capital	357,306	356,017
Accumulated other comprehensive income	123	168
Retained earnings	31,653	29,935
Total stockholders’ equity	389,094	386,132
Total liabilities and stockholders' equity	487,613	472,942
Class A Common Stock [Member]
Stockholders’ equity
Common Stock, Value, Issued	2	1
Class B Common Stock [Member]
Stockholders’ equity
Common Stock, Value, Issued	$ 10	$ 11

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Allowance for accounts and other receivables	$ 192	$ 102
Accumulated depreciation and amortization for property and equipment	$ 5,147	$ 4,791
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series A Preferred Stock [Member]
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Class A Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	883,950,000	883,950,000
Common stock, shares issued	17,715,046	17,251,079
Common stock, shares outstanding	17,715,046	17,251,079
Class B Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	111,050,000	111,050,000
Common stock, shares issued	103,336,337	103,388,082
Common stock, shares outstanding	103,336,337	103,388,082

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 116,704	$ 92,222
Cost of revenue	81,850	64,675
Gross profit	34,854	27,547
Operating expenses
Research and development	10,390	7,730
Sales and marketing	16,190	8,222
General and administrative	9,645	6,742
Total operating expenses	36,225	22,694
(Loss) income from operations	(1,371)	4,853
Other income (loss)
Interest income, net	(8)	(3)
Foreign exchange loss	26	9
(Loss) income before income taxes	(1,353)	4,859
Benefit from (provision for) income taxes	3,071	(1,221)
Net income	1,718	3,638
Undeclared dividends on Series A preferred stock	0	(1,360)
Net income attributable to common stock	$ 1,718	$ 2,278
Net income per share attributable to common stock
Basic	$ 0.01	$ 0.02
Diluted	$ 0.01	$ 0.02
Weighted-average number of shares used to compute net income per share attributable to common stock
Basic	120,897,576	103,479,239
Diluted	125,986,510	106,303,894

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 1,718	$ 3,638
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustments, net of tax	(45)	21
Comprehensive income	$ 1,673	$ 3,659

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	IPO [Member]	Series A Preferred Stock [Member]	Common Shares [Member]	Common Shares [Member]IPO [Member]	Additional Paid-In-Capital	Additional Paid-In-CapitalIPO [Member]	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income
Beginning balance at Dec. 31, 2020	$ 84,376			$ 517		$ 29,175		$ (579)	$ 55,047	$ 216
Beginning balance (in shares) at Dec. 31, 2020			23,013	103,479,239
Stock-based compensation	563					563
Repayment of related party loan receivable	813					813
Other comprehensive loss	21									21
Net income	3,638								3,638
Ending balance at Mar. 31, 2021	89,411			$ 517		30,551		$ (579)	58,685	237
Ending balance (in shares) at Mar. 31, 2021			23,013	103,479,239
Beginning balance at Dec. 31, 2021	386,132			$ 12		356,017			29,935	168
Beginning balance (in shares) at Dec. 31, 2021				120,639,161
Issuance of shares		$ 13					$ 13
Issuance of shares (in shares)					412,222
Stock-based compensation	1,276					1,276
Issuance of Class A common stock for stock option exercises, shares					412,222
Issuance of Class A common stock for stock option exercises		$ 13					$ 13
Other comprehensive loss	(45)									(45)
Net income	1,718								1,718
Ending balance at Mar. 31, 2022	$ 389,094			$ 12		$ 357,306			$ 31,653	$ 123
Ending balance (in shares) at Mar. 31, 2022				121,051,383

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income	$ 1,718	$ 3,638
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	5,474	2,392
Deferred income taxes	1,406	757
Stock-based compensation	1,276	563
Non-cash lease expense	755	791
Amortization of contract asset	467	0
Provision for credit losses	95	0
Change in operating assets and liabilities
Accounts and other receivables	(8,082)	(5,596)
Prepaid expenses and other current and long-term assets	(161)	(77)
Accounts payable	4,916	4,770
Accrued liabilities	862	(67)
Operating lease liabilities	(770)	(725)
Contract liabilities	(57)	883
Income taxes receivable, net of payable	(4,651)	(152)
Net cash provided by operating activities	3,248	7,177
Cash flows from investing activities
Other intangible assets acquired	(23)	0
Purchases of property and equipment	(530)	(156)
Capitalized internal-use software development costs	(6,731)	(4,256)
Net cash used in investing activities	(7,284)	(4,412)
Cash flows from financing activities
Proceeds from repayment of related party loan	0	813
Proceeds from exercise of stock options	13	0
Financial Institution fund in transit	3,339	0
Payments of deferred offering costs	0	(457)
Payments on other financing obligations	(915)	(383)
Payments on finance leases	(74)	(68)
Net cash provided by (used in) financing activities	2,363	(95)
Foreign currency effect on cash and cash equivalents	10	33
Net (decrease) increase in cash, cash equivalents and restricted cash	(1,663)	2,703
Cash and cash equivalents
Beginning of period	201,829	46,666
End of period	200,166	49,369
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net of refunds	173	616
Non-cash investing activities:
Property and equipment purchases in accounts payable	123	75
Noncash Investing and Financing Items [Abstract]
Unpaid deferred offering costs	0	190
Cash and Cash Equivalents [Member]
Cash and cash equivalents
End of period	163,384	49,369
Restricted funds [Member]
Cash and cash equivalents
End of period	$ 36,782	$ 0

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business Description of Business Paymentus Holdings, Inc. and its wholly owned subsidiaries (“Paymentus” or the "Company”) provides electronic bill presentment and payment services, enterprise customer communication and self-service revenue management to billers through a Software-as-a-Service, (“SaaS”), secure, omni-channel technology platform. The platform seamlessly integrates into a biller’s core financial and operating systems to provide flexible and secure access to payment processing of credit cards, debit cards, eChecks and digital wallets across a significant number of channels including online, mobile, IVR, call center, chatbot and voice-based assistants. Paymentus was incorporated in the state of Delaware on September 2, 2011 with office locations in Charlotte, North Carolina, Richmond Hill, Ontario (Canada), Blacksburg, Virginia, Cromwell, Connecticut, Redmond, Washington and Delhi and Bangalore (India). The Company was headquartered in Charlotte, North Carolina until 2020 when the Company moved its headquarters to Redmond, Washington. Initial Public Offering and Private Placement In May 2021, the Company completed its initial public offering (“IPO”), in which the Company issued and sold 11,500,000 shares of its Class A common stock at $ 21.00 per share, including 1,500,000 shares issued upon the exercise of the underwriters’ option to purchase additional shares. The Company received net proceeds of $ 224.6 million after deducting underwriting discounts and commissions of $ 16.9 million. The Company incurred direct offering expenses of $ 2.0 million. In connection with the IPO: • all 103,479,239 shares of the Company’s outstanding common stock automatically converted into an equivalent number of shares of Class B common stock on a one-to-one basis; and • entities affiliated with Accel-KKR purchased 2,380,950 shares of the Company’s Class A common stock at $ 21.00 per share in a concurrent private placement that closed immediately subsequent to the closing of the IPO. The Company received aggregate proceeds of $ 50.0 million in this concurrent private placement and did not pay underwriting discounts or commissions with respect to the shares of Class A common stock that were sold in the private placement.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. Therefore, these unaudited condensed consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements and the related notes included in the Company's Form 10-K for the year ended December 31, 2021 filed with the SEC on March 3, 2022, (the "2021 Form 10-K"). These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position, results of operations, comprehensive income, changes in stockholders' equity and cash flows for the periods presented. The results of operations for the three months ended March 31, 2022 and 2021 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period. Stock Split On May 10, 2021, the Company effected a 5 -for-1 forward stock split of its common stock. In connection with the forward stock split, each issued and outstanding share of common stock, automatically and without action on the part of the holders, became five shares of common stock. The par value per share of common stock was not adjusted. All share, per share and related information presented in the unaudited interim condensed consolidated financial statements and accompanying notes have been retroactively adjusted, where applicable, to reflect the impact of the stock split. Principles of Consolidation The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and balances have been eliminated upon consolidation. Segment Information Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to make operating decisions, allocate resources and assess performance. The Company has three operating segments based on geography. The United States segment represents the vast majority of the Company’s consolidated net sales and gross profit. The additional two operating segments, Canada and India, do not meet the quantitative thresholds for separate reporting, either individually or in the aggregate. None of the operating segments qualified for aggregation. The Company’s CODM is its Chief Executive Officer. The CODM evaluates the performance of the Company’s operating segments based on revenue and gross profit. The Company does not analyze discrete segment balance sheet information related to long-term assets. All other financial information is presented on a consolidated basis. For information regarding the Company’s long-lived assets and revenue by geographic area, see Note 15. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Such estimates include revenue recognition, the allowance for credit losses, the lives of tangible and intangible assets, the valuation of acquired intangible assets and the recoverability or impairment of intangible assets, including goodwill, internal-use software development costs, valuation of stock warrants issued, stock-based compensation, and accounting for income taxes. The Company bases its estimates on historical experience and also on assumptions that management considers reasonable. The Company assesses these estimates on a regular basis; however, actual results could differ from these estimates. Custodial Accounts The Company has established a relationship with its merchant processors to act as collection and paying agents, whereby a merchant processor receives funds from customers and forwards such funds to the respective Paymentus client, based on the instructions received from the Company. These merchant processors act as custodians of the cash received and the Company has no legal ownership rights to the funds held in such custodial accounts and does not control the use of these funds. As the Company does not take ownership of the funds, these custodial accounts are not included in the Company’s consolidated balance sheets. The balance of cash in the custodial accounts held by these merchant processors was $ 43.4 million and $ 47.4 million as of March 31, 2022 and December 31, 2021 , respectively. Restricted Funds Held for Financial Institutions and Financial Institution Funds In-Transit Restricted funds held for financial institutions and the corresponding liability of financial institution funds in-transit represent the timing differences arising between the amounts the Company's sponsor bank receives from the sending financial institutions and the amounts disbursed to the recipient financial institutions. The restricted funds held for financial institutions' account is a transaction account maintained at the Company’s sponsor bank for clearing payments from financial institutions (as defined by the U.S. Treasury’s Financial Crimes Enforcement Network) to other financial institutions. Restricted funds held for financial institutions represent restricted cash that, based upon the Company's intent, are restricted solely for satisfying the corresponding obligations to send funds to the various financial institutions. Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk primarily consist of cash, cash equivalents, and accounts receivable. The Company maintains its cash and cash equivalents with high-quality financial institutions with investment-grade ratings. For accounts receivable, the Company is exposed to credit risk in the event of nonpayment by customers to the extent of the amounts recorded in the consolidated balance sheets. No customer accounted for more than 10 % of revenue for either of the three months ended March 31, 2022 and 2021 . No customer accounted for more than 10 % of accounts receivable as of March 31, 2022 , while one customer accounted for more than 10 % of accounts receivable as of December 31, 2021 . Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 2, “Basis of Presentation and Summary of Significant Accounting Policies” in the Notes to Consolidated Financial Statements as of December 31, 2021 and 2020 and for the years ended December 31, 2021 and 2020 included in the 2021 Form 10-K. There have been no significant changes to these policies during the three months ended March 31, 2022 . Accounting Pronouncements The Company is provided the option to adopt new or revised accounting guidance as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 either (1) within the same periods as those otherwise applicable to public business entities, or (2) within the same time periods as non-public business entities, including early adoption when permissible. With the exception of standards the Company elected to early adopt, when permissible, the Company has elected to adopt new or revised accounting guidance within the same time period as non-public business entities, as indicated below. Accounting Pronouncements Not Yet Adopted In October 2021, the FASB issued ASU 2021-08, "Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers" ("ASU 2021-08") . ASU 2021-08 will require companies to apply the definition of a performance obligation under ASU 2014-09 , Revenue from contracts with customers (“Topic 606”) to recognize and measure contract assets and contract liabilities relating to contracts with customers that are acquired in a business combination. Under current U.S. GAAP, an acquirer generally recognizes assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU 2021-08 will result in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASU Topic 606. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact of this ASU on its condensed consolidated financial statements.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue, Performance Obligations and Contract Balances	3. Revenue, Performance Obligations and Contract Balances Disaggregation of Revenue The following table presents a disaggregation of revenue from contracts with customers (in thousands): Three Months Ended March 31, 2022 2021 Payment transaction processing revenue $ 114,962 $ 91,200 Other 1,742 1,022 Total revenue $ 116,704 $ 92,222 Remaining Performance Obligations ASU Topic 606 requires disclosure of the aggregate amount of the transaction price allocated to unsatisfied performance obligations. The purpose of this disclosure is to provide additional information about the amounts and expected timing of revenue to be recognized from the remaining performance obligations in our existing contracts. As of March 31, 2022 , the aggregate amount of transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied was $ 3.8 million, which the Company expects to recognize over 80 % within the next four years . The timing of revenue recognition within the next year is largely dependent upon the go-live dates of the Company's contracts. As of March 31, 2022 , the Company has contractual rights under its commercial agreements to receive $ 31.6 million of fixed consideration related to the future minimum guarantees through March 2026. As permitted, the Company has elected to exclude from this disclosure any variable consideration that meets specified criteria. Accordingly, the total unsatisfied or partially unsatisfied performance obligations related to processing services is significantly higher than the amount disclosed. Contract Balances The contract asset balances at March 31, 2022 and December 31, 2021 were $ 6.2 million and $ 5.6 million, respectively of which $ 1.8 million and $ 1.7 million was included in prepaid expenses and other current assets and $ 4.4 million and $ 3.9 million was included in other long-term assets in the condensed consolidated balance sheets, respectively. During the three months ended March 31, 2022 , the Company reduced revenue and the related contract assets by $ 0.5 million. There were no contract assets as of March 31, 2021. The Company recorded $ 3.8 million and $ 3.9 million of contract liabilities in the condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021 , respectively, of which $ 2.8 million is related to acquisitions during the year ended December 31, 2021 and the remaining amount related to legacy contracts obtained from prior acquisitions associated with the Company’s insignificant other revenue stream and other payments the Company received in advance for services. The change in the contract liabilities is primarily the result of the Payveris acquisition and timing differences between payment from the customer and the Company’s satisfaction of each performance obligation. The revenue recognized during the three months ended March 31, 2022 and 2021 that was included in the contract liabilities balance at the beginning of each of the periods was $ 0.7 million and $ 0.6 million, respectively.

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2022
Business Combinations [Abstract]
Business Combinations	4. Business Combinations Payveris, LLC On September 1, 2021, the Company completed its acquisition of Payveris, LLC ("Payveris") by acquiring all outstanding equity interests for a total purchase price of approximately $ 145.5 million, comprised of $ 85.1 million in cash and 2,364,270 shares of the Company's Class A common stock with a fair value of approximately $ 60.4 million, of which 2,471 shares of the Company's Class A common stock with an approximate value of $ 0.06 million are subject to final issuance and are currently recorded in accrued liabilities in the condensed consolidated balance sheets. Payveris is a payments processing company for financial institutions. The acquisition is expected to increase the addressable market opportunity for the Company's existing solutions while also enhancing Payveris’ platform with real-time capabilities, enhanced electronic bill presentment and additional payment options for banks, credit unions and financial institutions of all sizes. The acquisition was accounted for as a business combination and, accordingly, the total fair value of purchase consideration was allocated to the tangible and intangible assets acquired and liabilities assumed based on their fair values on the acquisition date. The major classes of assets and liabilities to which the Company has allocated the fair value of purchase consideration were as follows (in thousands): Accounts receivable $ 1,026 Prepaid expenses and other current assets 237 Intangible assets, includes software acquired 38,498 Property and equipment 77 Goodwill 108,950 Restricted funds held for financial institutions 31,459 Financial institution funds in-transit ( 31,459 ) Accounts payable ( 194 ) Accrued liabilities ( 265 ) Deferred revenue ( 2,805 ) Total $ 145,524 The purchase price allocation is preliminary. The Company continues to collect information with regard to its estimates and assumptions, including potential liabilities and contingencies. The Company will record adjustments to the fair value of the net assets acquired and goodwill within the twelve months measurement period, if necessary. The Company recorded a measurement period adjustment of $ 8.5 million during the fourth quarter of 2021 to decrease trademarks and increase goodwill related to the refinement of in puts in the acquisition valuation. There were no measurement period adjustments during the three months ended March 31, 2022. The goodwill recognized was primarily attributed to increased synergies that are expected to be achieved from the integration of Payveris and the assembled workforce. The goodwill is deductible for income tax purposes. The fair values and estimated useful lives of the acquired intangible assets by category were as follows (in thousands, except years): Fair Value Useful Life Customer Relationships $ 26,154 8.0 Trademarks 3,993 4.0 Developed Technology 8,102 4.0 Total $ 38,249 Finovera, Inc. On September 2, 2021, the Company completed its acquisition of Finovera by acquiring all outstanding shares for a total purchase price of approximately $ 12.9 million, net of cash acquired, comprised of $ 5.0 million in cash of which $ 0.8 million is being held back by the Company for a period of twenty-four months following the transaction closing date and is recorded in finance leases and other finance obligations, net of current portion in the condensed consolidated balance sheets, and 293,506 shares of the Company's Class A common stock with a fair value of approximately $ 7.9 million. Finovera is a bill aggregation technology provider for financial institutions. The acquisition of Finovera is expected to increase the addressable market opportunity for the Company's biller and financial institution solutions by, among other things, increasing the availability of certain bill data. The acquisition was accounted for as a business combination and, accordingly, the total fair value of purchase consideration was allocated to the tangible and intangible assets acquired and liabilities assumed based on their fair values on the acquisition date. The major classes of assets and liabilities to which the Company has allocated the fair value of purchase consideration were as follows (in thousands): Cash $ 65 Accounts receivable 267 Intangible assets 6,048 Prepaid expenses and other current assets 39 Goodwill 7,266 Accounts payable ( 85 ) Accrued liabilities ( 72 ) Deferred taxes ( 588 ) Total $ 12,940 The purchase price allocation is preliminary. The Company continues to collect information with regard to its estimates and assumptions, including potential liabilities and contingencies. The Company will record adjustments to the fair value of the net assets acquired and goodwill within the twelve months measurement period, if necessary. There were no measurement period adjustments during the three months ended March 31, 2022. The goodwill recognized was primarily attributed to increased synergies that are expected to be achieved from the integration of Finovera and the assembled workforce. The goodwill is not deductible for income tax purposes. The fair values and estimated useful lives of the acquired intangible assets by category were as follows (in thousands, except years): Fair Value Useful Life Developed Technology $ 5,155 4.0 Customer Relationships 893 2.0 Total $ 6,048 The revenue and expenses of the acquired businesses have been included in the Company's condensed consolidated financial results since the acquisition date. Revenues and expenses related to these acquisitions and pro forma results of operations have not been presented for the three months ended March 31, 2021 because the effects of these acquisitions was not material to the Company's overall operations. The Company incurred costs related to these acquisitions of approximately $ 1.7 million for the year ended December 31, 2021. All acquisition related costs were expensed as incurred and have been recorded in general and administrative expenses in the condensed consolidated statements of operations.

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	5. Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): March 31, December 31, 2022 2021 Computer equipment $ 5,357 $ 4,934 Furniture and fixtures 1,485 1,456 Leasehold improvements 460 445 Total property and equipment 7,302 6,835 Less: Accumulated depreciation and amortization ( 5,147 ) ( 4,791 ) Property and equipment, net $ 2,155 $ 2,044 Depreciation and amortization expense recorded for property and equipment was $ 0.3 million and $ 0.2 million for the three months ended March 31, 2022 and 2021 , respectively.

Goodwill, Internal-use Software

Goodwill, Internal-use Software Development Costs and Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Internal-use Software Development Costs and Intangible Assets	6. Goodwill, Internal-use Software Development Costs and Intangible Assets Goodwill The changes in the carrying amount of goodwill by reporting unit were as follows (in thousands): United Other Total Balance as of December 31, 2021 $ 128,519 $ 894 $ 129,413 Foreign currency translation adjustments — 4 4 Balance as of March 31, 2022 $ 128,519 $ 898 $ 129,417 Internal-use Software Development Costs The Company capitalizes qualifying internal-use software development costs related to its platform. The costs consist of personnel costs (including related benefits) that are incurred during the application development stage, as well as implementation costs incurred to fulfill our contracts with customers as they (1) relate directly to the contract, (2) are expected to generate resources that will be used to satisfy the performance obligation under the contract, and (3) are expected to be recovered through revenues generated under the contract. Capitalization of costs begins when two criteria are met: (1) the preliminary project stage is completed, and (2) it is probable that the software will be completed and used for its intended function. Capitalization ceases when the software is substantially complete and ready for its intended use, including the completion of all significant testing. Costs related to preliminary project activities and post-implementation operating activities are expensed as incurred. During the three months ended March 31, 2022 and 2021, the Company capitalized $ 6.7 million and $ 4.3 million in software development costs, respectively. Capitalized costs are amortized over the estimated useful life of the software, which management estimated to be a range of three to five years , and are recorded on a straight-line basis, which represents the manner in which the expected benefit will be derived. Amortization expense is recorded in cost of revenue and operating expenses in the condensed consolidated statement of operations aligned with the internal organizations that are the primary beneficiaries of such assets. During the three months ended March 31, 2022 and 2021, the Company recorded $ 1.7 million and $ 1.1 million of amortization expense in cost of revenue, and $ 1.4 million and $ 1.0 million of amortization expense in operating expenses, respectively. Intangible Assets Intangible assets, net consisted of the following (in thousands): March 31, 2022 Gross Accumulated Net Weighted- Technology $ 20,851 $ ( 9,513 ) $ 11,338 4.0 License 2,718 ( 2,718 ) — — Customer relationship 33,848 ( 8,969 ) 24,879 8.0 Software 914 ( 503 ) 411 3.0 Trademark 4,193 ( 782 ) 3,411 4.0 Total $ 62,524 $ ( 22,485 ) $ 40,039 December 31, 2021 Gross Accumulated Net Weighted- Technology $ 20,837 $ ( 8,655 ) $ 12,182 4.0 License 2,652 ( 2,652 ) — — Customer relationship 33,830 ( 8,021 ) 25,809 8.0 Software 893 ( 456 ) 437 3.0 Trademark 4,193 ( 533 ) 3,660 4.0 Total $ 62,405 $ ( 20,317 ) $ 42,088 Amortization expense of intangible assets was $ 2.1 million and $ 0.1 million for the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, future amortization expense is expected to be as follows (in thousands): Years Ending December 31, 2022 (remaining nine months) $ 6,172 2023 8,061 2024 7,636 2025 6,169 2026 3,283 Thereafter 8,718 Total future amortization expense $ 40,039

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	7. Leases The Company enters into operating and finance leases, primarily related to rental of office space, equipment and data centers. Both operating and finance leases have remaining lease terms which range from less than one year to ten year s, and often include one or more renewal or termination options. These options are not included in the determination of the lease term at commencement unless it is reasonably certain that the Company will exercise the option. The components of lease cost were as follows (in thousands): Three Months Ended March 31, 2022 2021 Operating lease cost $ 524 $ 852 Finance lease cost Depreciation expense 68 66 Interest on finance lease liabilities 3 5 Total finance lease cost 71 71 Short-term lease cost 451 91 Total lease cost $ 1,046 $ 1,014 Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 539 $ 724 Operating cash flows for finance leases 3 5 Financing cash flows for finance leases 74 68 Right-of-use assets obtained in exchange of operating lease obligations 297 97 The total remaining lease payments under non-cancelable operating and finance leases as of March 31, 2022 were as follows (in thousands): Years Ending December 31, Operating Leases Finance Leases 2022 (remaining nine months) $ 1,347 $ 204 2023 1,028 107 2024 857 — 2025 868 — 2026 879 — Thereafter 3,783 — Total minimum lease payments including interest $ 8,762 $ 311 Less imputed interest ( 854 ) ( 5 ) Total lease liabilities $ 7,908 $ 306 Operating lease payments presented above exclude $ 4.2 million of legally-binding lease commitments for a lease signed but not yet commenced as of March 31, 2022. This operating lease commenced on April 1, 2022 with a lease term of five years .

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2022
Accrued Liabilities, Current [Abstract]
Accrued Liabilities	8. Accrued Liabilities Accrued liabilities consisted of the following (in thousands): March 31, December 31, 2022 2021 Payroll and employee-related expenses $ 8,748 $ 8,093 Finance leases and other financing obligations 1,503 2,382 Other accrued liabilities 2,252 2,016 Total $ 12,503 $ 12,491 Finance leases and other financing obligations includes the current portion of finance leases related to the acquisition of computer equipment and short-term insurance premium financing arrangements.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Other Commitments The Company has entered into certain non-cancellable agreements for software and marketing services that specify all significant terms, including fixed or minimum services to be used, pricing provisions and the approximate timing of the transaction. Obligations under contracts that are cancellable or with remaining terms of 12 months or less are not included. There have been no material changes to the Company's contractual obligations or commitments outside of the ordinary course of business as compared to those described in the 2021 Form 10-K. The Company sponsors a 401(k) defined contribution plan covering all eligible U.S. employees. Contributions to the 401(k) plan are discretionary. For the three months ended March 31, 2022, the Company made $ 0.2 million of matching contributions to the 401(k) plan. The Company did no t make any matching contributions to the 401(k) plan for the three months ended March 31, 2021. Legal Matters The Company is involved from time to time in various claims and legal actions arising in the ordinary course of business. While it is not feasible to predict or determine the ultimate outcome of these matters, the Company believes that none of its current legal proceedings will have a material adverse effect on its financial position, results of operations, or cash flows as of and for the three months ended March 31, 2022. Indemnification The Company enters into indemnification provisions under agreements with other parties in the ordinary course of business, including business partners, investors, contractors, customers, and the Company’s officers, directors, and certain employees. The Company has agreed to indemnify and defend the indemnified party claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims due to the Company’s activities or non-compliance with obligations or representations made by the Company. The Company seeks to limit, or cap, its indemnification exposure in its commercial and other contracts. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	10. Related Party Transactions There have been no material changes to the Company's related party transactions as previously disclosed in the Company's 2021 Form 10-K.

Equity

Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Equity	11. Equity Preferred Stock The Company’s amended and restated certificate of incorporation authorizes the issuance of 5,000,000 shares of undesignated preferred stock with a par value of $ 0.0001 per share with rights and preferences, including voting rights, designated from time to time by the board of directors. There were no shares of preferred stock issued or outstanding as of March 31, 2022. Common Stock The Company has two classes of common stock: Class A common stock and Class B common stock. The Company’s amended and restated certificate of incorporation authorizes the issuance of 883,950,000 shares of Class A common stock and 111,050,000 shares of Class B common stock. The shares of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote. Each share of Class B common stock is entitled to ten votes. Class A and Class B common stock have a par value of $ 0.0001 per share, and are referred to as common stock throughout the notes to the condensed consolidated financial statements, unless otherwise noted. Holders of common stock are entitled to receive any dividends as may be declared from time to time by the board of directors. Shares of Class B common stock may be converted to Class A common stock at any time at the option of the stockholder. Shares of Class B common stock automatically convert to Class A common stock upon the following: (i) sale or transfer of such share of Class B common stock; (ii) the death of the Class B common stockholder (or nine months after the date of death if the stockholder is one of the Company’s founders); and (iii) on the first trading day on or after the date on which the outstanding shares of Class B common stock represent less than 10% of the then outstanding Class A and Class B common stock. Following the conversion of all outstanding shares of Class B common stock into Class A common stock, no further shares of Class B common stock will be issued. Series A Preferred Stock Upon completion of the IPO, the Company used approximately $ 57.4 million of the net proceeds to redeem all of the issued and outstanding shares of Series A preferred stock (including accrued dividends of $ 34.4 million). As of March 31, 2022 , there were no shares of Series A preferred stock issued and outstanding. Warrant On May 13, 2021, the Company entered into a warrant agreement with an affiliate of J.P. Morgan Securities LLC, an underwriter in the IPO, pursuant to which the Company issued a warrant to such affiliate for up to 509,370 shares of Class A common stock upon completion of the IPO at an exercise price of $ 18.38 per share. Upon completion of the IPO, 382,027 of the warrant shares had vested and are therefore, exercisable. The vesting of the remaining 127,343 shares of Class A common stock underlying the warrant will be subject to the achievement of certain commercial milestones through December 31, 2025 pursuant to a related commercial agreement. Consistent with classification guidance in ASU Topic 606, the Company accounts for the consideration payable in the form of warrants to a customer as a reduction of the transaction price and, therefore, of revenue as the revenue is earned. The warrant fair value was determined using the Black-Scholes pricing model in accordance with ASC 718, Compensation-Stock Compensation . As of March 31, 2022, 397,944 warrant shares had vested and were exercisable. During 2021, the Company updated the warrant value recognized based on the expectation that the probability of achievement of certain milestones would be achieved. The increase was recorded using the fair value determined at the time of grant multiplied by the estimated number of remaining warrants expected to vest. This increase was recorded as additional paid-in capital and as a contract asset included in prepaid expenses and other current assets and other long-term assets in the condensed consolidated balance sheets. There were no changes to the valuation in the three months ended March 31, 2022.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	2. Stock-Based Compensation In May 2021, the Company’s board of directors adopted, and its stockholders approved, the 2021 Equity Incentive Plan (the “2021 Plan”), which became effective in connection with the IPO. The 2021 Plan provides for the grant of incentive stock options, within the meaning of Section 422 of the Internal Revenue Code, to the Company's employees and any of its parent or subsidiary corporations’ employees, and for the grant of nonstatutory stock options, restricted stock, restricted stock units, stock appreciation rights, and performance awards to the Company’s employees, directors and consultants and any of its parent or subsidiary corporations’ employees and consultants. A total of 10,459,000 shares of the Company’s Class A common stock have been reserved for issuance under the 2021 Plan in addition to (i) an annual increase of 4 % of the outstanding shares of the Company's common stock, with Class A and Class B common stock taken together, on the first day of each fiscal year ( the "Evergreen Addition") and (ii) upon the expiration, forfeiture, cancellation, or reacquisition of any shares of Class B common stock underlying outstanding stock awards granted under the 2012 Equity Incentive Plan, an equal number of shares of Class A common stock, such number of shares not to exceed 7,563,990 . On January 1, 2022, pursuant to the Evergreen Addition, 4,825,566 shares of Class A common stock were added to the 2021 Plan issuance reserve. At March 31, 2022 , there were 14,803,281 remaining shares available for the Company to grant under the 2021 Plan. Stock Options A summary of the Company’s option activity during the three months ended March 31, 2022 was as follows (in thousands, except share and per share amounts): Weighted- Weighted- Average Average Remaining Aggregate Options Exercise Price Contractual Intrinsic Outstanding per Share Life (years) Value Outstanding at December 31, 2021 6,848,660 $ 5.05 4.98 $ 204,977 Options granted — Options exercised ( 412,222 ) 0.03 Options forfeited ( 2,500 ) 8.66 Outstanding at March 31, 2022 6,433,938 $ 5.37 4.98 $ 101,073 Exercisable at March 31, 2022 4,771,999 $ 4.23 4.15 $ 80,398 There were no options granted during the three months ended March 31, 2022 . The weighted average grant date fair value of options granted during the three months ended March 31, 2021 was $ 3.02 . Aggregate intrinsic value represents the difference between the exercise price of the options and the fair value of the Company’s common stock. The fair value of options granted during the three months ended March 31, 2021 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Three Months Ended March 31, 2021 Dividend yield 0.0 % Risk-free interest rate 0.3 % - 0.7 % Expected term (in years) 3 - 5 Expected volatility 38 % - 42 % Restricted Stock Units (“RSUs”) A summary of the Company’s RSU activity during the three months ended March 31, 2022 was as follows: Weighted- Average Number of Grant Date RSU's Outstanding Fair Value Awarded and unvested at December 31, 2021 512,637 $ 25.93 Awards granted 75,730 27.85 Awards vested — — Awards forfeited ( 16,142 ) 26.13 Awarded and unvested at March 31, 2022 572,225 $ 26.18 The fair value of RSU grants is determined based upon the market closing price of the Company's Class A common stock on the date of grant. RSUs vest over the requisite service period, which ranges between four years and five years from the date of grant, subject to continued employment for employees and provision of services for nonemployees. No RSUs vested during the three months ended March 31, 2022. Stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended March 31, 2022 2021 Cost of revenue $ — $ — Operating expenses Research and development 285 16 Sales and marketing 223 17 General and administrative 768 530 Total stock-based compensation $ 1,276 $ 563 At March 31, 2022 , there was $ 4.6 million of total unrecognized compensation cost related to unvested stock options granted under the 2012 Equity Incentive Plan and the 2021 Plan, which is expected to be recognized over a remaining weighted-average period of 2.3 years. At March 31, 2022 , there was $ 13.4 million of total unrecognized compensation cost related to unvested RSUs granted under the 2021 Plan, which is expected to be recognized over a remaining weighted-average period of 4.1 years.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The Company computes its tax provision for interim periods by applying the estimated annual effective tax rate to year-to-date income from recurring operations and adjusting for discrete items arising in that quarter. The Company’s forecasted annual effective tax rate for the year ended December 31, 2022 is 30.6 %. During the three months ended March 31, 2022, the Company recorded a discrete benefit of $ 2.6 million related to excess tax benefits on stock-based compensation, resulting in an increase to the effective tax rate of 195.8 % for the three months ended March 31, 2022. For the three months ended March 31, 2021, the effective tax rate was 25.0 %. The difference between the Company’s effective tax rate and the U.S. federal statutory rate of 21 % in the above periods was primarily the result of state taxes, foreign income taxed at different rates and permanent and discrete tax adjustments related to nondeductible executive compensation.

Net Income Per Share Attributab

Net Income Per Share Attributable to Common Stock	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Income Per Share Attributable to Common Stock	14. Net Income Per Share Attributable to Common Stock Basic net income per share attributable to common stockholders is computed by deducting the undeclared dividends on the Series A preferred stock from net income to arrive at net income attributable to common stock and dividing the net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share attributable to common stock is computed by giving effect to all potentially dilutive common stock equivalents to the extent they are dilutive. The dilutive effect of outstanding options, RSUs and warrants is reflected in diluted net income per share attributable to common stock by application of the treasury stock method. The calculation of diluted net income per share attributable to common stock excludes all anti-dilutive common shares. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net income per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both an individual and combined basis. The following table sets forth the computation of basic and diluted net income per share attributable to common stock (in thousands except share and per share data): Three Months Ended March 31, 2022 2021 Numerator: Net income $ 1,718 $ 3,638 Undeclared dividends on Series A preferred stock — ( 1,360 ) Net income attributable to common stock $ 1,718 $ 2,278 Denominator: Weighted-average shares of common stock - basic 120,897,576 103,479,239 Dilutive effect of stock options to purchase common stock 4,976,726 2,824,655 Dilutive effect of RSUs 26,347 — Dilutive effect of warrants 85,861 — Weighted-average shares of common stock - diluted 125,986,510 106,303,894 Net income per share attributable to common stock Basic $ 0.01 $ 0.02 Diluted $ 0.01 $ 0.02 The following table summarizes the securities that were excluded from the computation of diluted net income per share attributable to common stock as their inclusion would have been antidilutive: Three Months Ended March 31, 2022 2021 RSUs 7,748 —

Geographic Information

Geographic Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Geographic Information	15. Geographic Information Revenue by geographic area, based on the location of the Company’s users, was as follows (in thousands): Three Months Ended March 31, 2022 2021 United States $ 113,960 $ 90,307 Other 2,744 1,915 Total $ 116,704 $ 92,222 Long-lived assets, comprising property and equipment assets, by geographic area were as follows (in thousands): March 31, December 31, 2022 2021 United States $ 702 $ 588 Other 1,453 1,456 Total $ 2,155 $ 2,044

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. Therefore, these unaudited condensed consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements and the related notes included in the Company's Form 10-K for the year ended December 31, 2021 filed with the SEC on March 3, 2022, (the "2021 Form 10-K"). These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position, results of operations, comprehensive income, changes in stockholders' equity and cash flows for the periods presented. The results of operations for the three months ended March 31, 2022 and 2021 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period.
Stock Split	Stock Split On May 10, 2021, the Company effected a 5 -for-1 forward stock split of its common stock. In connection with the forward stock split, each issued and outstanding share of common stock, automatically and without action on the part of the holders, became five shares of common stock. The par value per share of common stock was not adjusted. All share, per share and related information presented in the unaudited interim condensed consolidated financial statements and accompanying notes have been retroactively adjusted, where applicable, to reflect the impact of the stock split.
Principles of Consolidation	Principles of Consolidation The unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and balances have been eliminated upon consolidation.
Segment Information	Segment Information Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to make operating decisions, allocate resources and assess performance. The Company has three operating segments based on geography. The United States segment represents the vast majority of the Company’s consolidated net sales and gross profit. The additional two operating segments, Canada and India, do not meet the quantitative thresholds for separate reporting, either individually or in the aggregate. None of the operating segments qualified for aggregation. The Company’s CODM is its Chief Executive Officer. The CODM evaluates the performance of the Company’s operating segments based on revenue and gross profit. The Company does not analyze discrete segment balance sheet information related to long-term assets. All other financial information is presented on a consolidated basis. For information regarding the Company’s long-lived assets and revenue by geographic area, see Note 15.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Such estimates include revenue recognition, the allowance for credit losses, the lives of tangible and intangible assets, the valuation of acquired intangible assets and the recoverability or impairment of intangible assets, including goodwill, internal-use software development costs, valuation of stock warrants issued, stock-based compensation, and accounting for income taxes. The Company bases its estimates on historical experience and also on assumptions that management considers reasonable. The Company assesses these estimates on a regular basis; however, actual results could differ from these estimates.
Custodial Accounts	Custodial Accounts The Company has established a relationship with its merchant processors to act as collection and paying agents, whereby a merchant processor receives funds from customers and forwards such funds to the respective Paymentus client, based on the instructions received from the Company. These merchant processors act as custodians of the cash received and the Company has no legal ownership rights to the funds held in such custodial accounts and does not control the use of these funds. As the Company does not take ownership of the funds, these custodial accounts are not included in the Company’s consolidated balance sheets. The balance of cash in the custodial accounts held by these merchant processors was $ 43.4 million and $ 47.4 million as of March 31, 2022 and December 31, 2021 , respectively.
Restricted funds held for financial institutions and financial institution funds-in transit	Restricted Funds Held for Financial Institutions and Financial Institution Funds In-Transit Restricted funds held for financial institutions and the corresponding liability of financial institution funds in-transit represent the timing differences arising between the amounts the Company's sponsor bank receives from the sending financial institutions and the amounts disbursed to the recipient financial institutions. The restricted funds held for financial institutions' account is a transaction account maintained at the Company’s sponsor bank for clearing payments from financial institutions (as defined by the U.S. Treasury’s Financial Crimes Enforcement Network) to other financial institutions. Restricted funds held for financial institutions represent restricted cash that, based upon the Company's intent, are restricted solely for satisfying the corresponding obligations to send funds to the various financial institutions.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk primarily consist of cash, cash equivalents, and accounts receivable. The Company maintains its cash and cash equivalents with high-quality financial institutions with investment-grade ratings. For accounts receivable, the Company is exposed to credit risk in the event of nonpayment by customers to the extent of the amounts recorded in the consolidated balance sheets. No customer accounted for more than 10 % of revenue for either of the three months ended March 31, 2022 and 2021 . No customer accounted for more than 10 % of accounts receivable as of March 31, 2022 , while one customer accounted for more than 10 % of accounts receivable as of December 31, 2021 .
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 2, “Basis of Presentation and Summary of Significant Accounting Policies” in the Notes to Consolidated Financial Statements as of December 31, 2021 and 2020 and for the years ended December 31, 2021 and 2020 included in the 2021 Form 10-K. There have been no significant changes to these policies during the three months ended March 31, 2022 .
Accounting Pronouncements	Accounting Pronouncements The Company is provided the option to adopt new or revised accounting guidance as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 either (1) within the same periods as those otherwise applicable to public business entities, or (2) within the same time periods as non-public business entities, including early adoption when permissible. With the exception of standards the Company elected to early adopt, when permissible, the Company has elected to adopt new or revised accounting guidance within the same time period as non-public business entities, as indicated below. Accounting Pronouncements Not Yet Adopted In October 2021, the FASB issued ASU 2021-08, "Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers" ("ASU 2021-08") . ASU 2021-08 will require companies to apply the definition of a performance obligation under ASU 2014-09 , Revenue from contracts with customers (“Topic 606”) to recognize and measure contract assets and contract liabilities relating to contracts with customers that are acquired in a business combination. Under current U.S. GAAP, an acquirer generally recognizes assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU 2021-08 will result in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASU Topic 606. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact of this ASU on its condensed consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	The following table presents a disaggregation of revenue from contracts with customers (in thousands): Three Months Ended March 31, 2022 2021 Payment transaction processing revenue $ 114,962 $ 91,200 Other 1,742 1,022 Total revenue $ 116,704 $ 92,222

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2022
Payveris L L C [Member]
Restructuring Cost and Reserve [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	The major classes of assets and liabilities to which the Company has allocated the fair value of purchase consideration were as follows (in thousands): Accounts receivable $ 1,026 Prepaid expenses and other current assets 237 Intangible assets, includes software acquired 38,498 Property and equipment 77 Goodwill 108,950 Restricted funds held for financial institutions 31,459 Financial institution funds in-transit ( 31,459 ) Accounts payable ( 194 ) Accrued liabilities ( 265 ) Deferred revenue ( 2,805 ) Total $ 145,524
Schedule of Fair Value of Identified Intangible Assets and Useful Lives	The fair values and estimated useful lives of the acquired intangible assets by category were as follows (in thousands, except years): Fair Value Useful Life Customer Relationships $ 26,154 8.0 Trademarks 3,993 4.0 Developed Technology 8,102 4.0 Total $ 38,249
Finovera Inc [Member]
Restructuring Cost and Reserve [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	The major classes of assets and liabilities to which the Company has allocated the fair value of purchase consideration were as follows (in thousands): Cash $ 65 Accounts receivable 267 Intangible assets 6,048 Prepaid expenses and other current assets 39 Goodwill 7,266 Accounts payable ( 85 ) Accrued liabilities ( 72 ) Deferred taxes ( 588 ) Total $ 12,940
Schedule of Fair Value of Identified Intangible Assets and Useful Lives	The fair values and estimated useful lives of the acquired intangible assets by category were as follows (in thousands, except years): Fair Value Useful Life Developed Technology $ 5,155 4.0 Customer Relationships 893 2.0 Total $ 6,048

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): March 31, December 31, 2022 2021 Computer equipment $ 5,357 $ 4,934 Furniture and fixtures 1,485 1,456 Leasehold improvements 460 445 Total property and equipment 7,302 6,835 Less: Accumulated depreciation and amortization ( 5,147 ) ( 4,791 ) Property and equipment, net $ 2,155 $ 2,044

Goodwill, Internal-use Softwa_2

Goodwill, Internal-use Software Development Costs and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill by Reporting Unit	The changes in the carrying amount of goodwill by reporting unit were as follows (in thousands): United Other Total Balance as of December 31, 2021 $ 128,519 $ 894 $ 129,413 Foreign currency translation adjustments — 4 4 Balance as of March 31, 2022 $ 128,519 $ 898 $ 129,417
Summary of Intangible Assets	Intangible assets, net consisted of the following (in thousands): March 31, 2022 Gross Accumulated Net Weighted- Technology $ 20,851 $ ( 9,513 ) $ 11,338 4.0 License 2,718 ( 2,718 ) — — Customer relationship 33,848 ( 8,969 ) 24,879 8.0 Software 914 ( 503 ) 411 3.0 Trademark 4,193 ( 782 ) 3,411 4.0 Total $ 62,524 $ ( 22,485 ) $ 40,039 December 31, 2021 Gross Accumulated Net Weighted- Technology $ 20,837 $ ( 8,655 ) $ 12,182 4.0 License 2,652 ( 2,652 ) — — Customer relationship 33,830 ( 8,021 ) 25,809 8.0 Software 893 ( 456 ) 437 3.0 Trademark 4,193 ( 533 ) 3,660 4.0 Total $ 62,405 $ ( 20,317 ) $ 42,088
Schedule of Expected Future Amortization Expense	As of March 31, 2022, future amortization expense is expected to be as follows (in thousands): Years Ending December 31, 2022 (remaining nine months) $ 6,172 2023 8,061 2024 7,636 2025 6,169 2026 3,283 Thereafter 8,718 Total future amortization expense $ 40,039

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Components of Lease Cost	The components of lease cost were as follows (in thousands): Three Months Ended March 31, 2022 2021 Operating lease cost $ 524 $ 852 Finance lease cost Depreciation expense 68 66 Interest on finance lease liabilities 3 5 Total finance lease cost 71 71 Short-term lease cost 451 91 Total lease cost $ 1,046 $ 1,014
Summary of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 539 $ 724 Operating cash flows for finance leases 3 5 Financing cash flows for finance leases 74 68 Right-of-use assets obtained in exchange of operating lease obligations 297 97
Summary of Remaining Lease Payments under Non-Cancelable Operating and Finance Leases	The total remaining lease payments under non-cancelable operating and finance leases as of March 31, 2022 were as follows (in thousands): Years Ending December 31, Operating Leases Finance Leases 2022 (remaining nine months) $ 1,347 $ 204 2023 1,028 107 2024 857 — 2025 868 — 2026 879 — Thereafter 3,783 — Total minimum lease payments including interest $ 8,762 $ 311 Less imputed interest ( 854 ) ( 5 ) Total lease liabilities $ 7,908 $ 306

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Accrued Liabilities, Current [Abstract]
Summary of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): March 31, December 31, 2022 2021 Payroll and employee-related expenses $ 8,748 $ 8,093 Finance leases and other financing obligations 1,503 2,382 Other accrued liabilities 2,252 2,016 Total $ 12,503 $ 12,491

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of the Company’s option activity during the three months ended March 31, 2022 was as follows (in thousands, except share and per share amounts): Weighted- Weighted- Average Average Remaining Aggregate Options Exercise Price Contractual Intrinsic Outstanding per Share Life (years) Value Outstanding at December 31, 2021 6,848,660 $ 5.05 4.98 $ 204,977 Options granted — Options exercised ( 412,222 ) 0.03 Options forfeited ( 2,500 ) 8.66 Outstanding at March 31, 2022 6,433,938 $ 5.37 4.98 $ 101,073 Exercisable at March 31, 2022 4,771,999 $ 4.23 4.15 $ 80,398 There were no options granted during the three months ended March 31, 2022 .
Schedule of Stock Option Grant Using Black-Scholes Option Pricing Model With Assumptions	The fair value of options granted during the three months ended March 31, 2021 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Three Months Ended March 31, 2021 Dividend yield 0.0 % Risk-free interest rate 0.3 % - 0.7 % Expected term (in years) 3 - 5 Expected volatility 38 % - 42 %
Summary of RSU Activity	A summary of the Company’s RSU activity during the three months ended March 31, 2022 was as follows: Weighted- Average Number of Grant Date RSU's Outstanding Fair Value Awarded and unvested at December 31, 2021 512,637 $ 25.93 Awards granted 75,730 27.85 Awards vested — — Awards forfeited ( 16,142 ) 26.13 Awarded and unvested at March 31, 2022 572,225 $ 26.18
Summary of Stock Based Compensation Expense	Stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended March 31, 2022 2021 Cost of revenue $ — $ — Operating expenses Research and development 285 16 Sales and marketing 223 17 General and administrative 768 530 Total stock-based compensation $ 1,276 $ 563

Net Income Per Share Attribut_2

Net Income Per Share Attributable to Common Stock (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Income Per Share Attributable to Common Stock	The following table sets forth the computation of basic and diluted net income per share attributable to common stock (in thousands except share and per share data): Three Months Ended March 31, 2022 2021 Numerator: Net income $ 1,718 $ 3,638 Undeclared dividends on Series A preferred stock — ( 1,360 ) Net income attributable to common stock $ 1,718 $ 2,278 Denominator: Weighted-average shares of common stock - basic 120,897,576 103,479,239 Dilutive effect of stock options to purchase common stock 4,976,726 2,824,655 Dilutive effect of RSUs 26,347 — Dilutive effect of warrants 85,861 — Weighted-average shares of common stock - diluted 125,986,510 106,303,894 Net income per share attributable to common stock Basic $ 0.01 $ 0.02 Diluted $ 0.01 $ 0.02
Schedule of Common Stock Equivalents Excluded from Income (Loss) Per Diluted Share	The following table summarizes the securities that were excluded from the computation of diluted net income per share attributable to common stock as their inclusion would have been antidilutive: Three Months Ended March 31, 2022 2021 RSUs 7,748 —

Geographic Information (Tables)

Geographic Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Summary of Revenue by Geographic Area	Revenue by geographic area, based on the location of the Company’s users, was as follows (in thousands): Three Months Ended March 31, 2022 2021 United States $ 113,960 $ 90,307 Other 2,744 1,915 Total $ 116,704 $ 92,222
Long-lived Assets by Geographic Areas	Long-lived assets, comprising property and equipment assets, by geographic area were as follows (in thousands): March 31, December 31, 2022 2021 United States $ 702 $ 588 Other 1,453 1,456 Total $ 2,155 $ 2,044

Organization and Description _2

Organization and Description of Business (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	May 31, 2021	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class A Common Stock [Member]
Subsidiary Sale Of Stock [Line Items]
Common stock, shares issued		17,715,046	17,251,079
Common stock, shares outstanding		17,715,046	17,251,079
Class A Common Stock [Member] | IPO [Member]
Subsidiary Sale Of Stock [Line Items]
Common stock, shares issued	11,500,000
Shares issued, price per share	$ 21
Proceeds from initial public offering, net of underwriter's discounts and commissions	$ 224.6
Underwriting discounts and commissions	16.9
Direct Offering Expenses	$ 2
Class A Common Stock [Member] | Over-Allotment Option [Member]
Subsidiary Sale Of Stock [Line Items]
Issuance of shares (in shares)	1,500,000
Class A Common Stock [Member] | Private Placement [Member]
Subsidiary Sale Of Stock [Line Items]
Common stock, shares issued	2,380,950
Sale of stock, price per share	$ 21
Proceeds from issuance of private placement	$ 50
Class B Common Stock [Member]
Subsidiary Sale Of Stock [Line Items]
Common stock, shares issued		103,336,337	103,388,082	0
Common stock, shares outstanding		103,336,337	103,388,082
Class B Common Stock [Member] | IPO [Member]
Subsidiary Sale Of Stock [Line Items]
Common stock, shares outstanding	103,479,239

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ in Millions	May 10, 2021	Mar. 31, 2022USD ($)Segment	Mar. 31, 2021	Dec. 31, 2021USD ($)
Summary Of Significant Accounting Policies [Line Items]
Stock split ratio	5
Number of operating segment | Segment		3
Cash in custodial account | $		$ 43.4		$ 47.4
Revenue [Member] | Customer Concentration Risk [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage		10.00%	10.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage		10.00%		10.00%

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Reduction in revenue and related contract asset	$ 500
Contract asset balance	6,200	$ 5,600	$ 0
Contract Liabilities	3,800	3,900
Contract liabilities	1,253	2,173
Remaining Performance Obligation, aggregate amount of transaction price	$ 3,800
Remaining Performance Obligation, percentage	80.00%
Expected revenue period	4 years
Fixed consideration related to the future minimum guarantees, contract amount	$ 31,600
Acquisitions [Member]
Disaggregation of Revenue [Line Items]
Contract liabilities		2,800
Prepaid Expenses and Other Current Assets [Member]
Disaggregation of Revenue [Line Items]
Contract asset balance	1,800	1,700
Payment Transaction Processing Revenue [Member]
Disaggregation of Revenue [Line Items]
Contract Liabilities	700	600
Other Long-Term Assets [Member]
Disaggregation of Revenue [Line Items]
Contract asset balance	$ 4,400	$ 3,900

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregation of Revenue from Contracts with Customer (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation Of Revenue [Line Items]
Revenue	$ 116,704	$ 92,222
Customer Contracts [Member]
Disaggregation Of Revenue [Line Items]
Revenue	116,704	92,222
Payment Transaction Processing Revenue [Member] | Customer Contracts [Member]
Disaggregation Of Revenue [Line Items]
Revenue	114,962	91,200
Other [Member] | Customer Contracts [Member]
Disaggregation Of Revenue [Line Items]
Revenue	$ 1,742	$ 1,022

Business Combinations - Additio

Business Combinations - Additional Information (Details) - USD ($) $ in Thousands	Sep. 02, 2021	Sep. 01, 2021	Dec. 31, 2021	Dec. 31, 2021	Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]
Purchase price of acquisition			$ 8,500
Payveris L L C [Member]
Restructuring Cost and Reserve [Line Items]
Purchase price of acquisition		$ 145,500
Cash purchase price		$ 85,100
Payveris L L C [Member] | Common Class A [Member]
Restructuring Cost and Reserve [Line Items]
Issuance of shares (in shares)		2,471
Number of shares issued for business acquisition		2,364,270
Common stock fair value		$ 60,400
Payveris L L C [Member] | Accrued Liabilities [Member] | Common Class A [Member]
Restructuring Cost and Reserve [Line Items]
Value of shares in acquisition		$ 60
Finovera Inc [Member]
Restructuring Cost and Reserve [Line Items]
Cash	$ 5,000				$ 65
Cash purchase price	12,900
Common stock fair value	$ 7,900
Acquisition cost incurred				$ 1,700
Finovera Inc [Member] | Common Class A [Member]
Restructuring Cost and Reserve [Line Items]
Number of shares issued for business acquisition	293,506
Finovera Inc [Member] | Accrued Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Cash held back for acquisition closing	$ 800

Business Combinations - Schedul

Business Combinations - Schedule Of Assets Acquired And Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Sep. 02, 2021
Business Acquisition [Line Items]
Goodwill	$ 129,417	$ 129,413
Payveris L L C [Member]
Business Acquisition [Line Items]
Accounts receivable	1,026
Prepaid expenses and other current assets	237
Intangible assets, includes software acquired	38,498
Property and equipment	77
Goodwill	108,950
Restricted funds held for financial institutions	31,459
Financial institution funds in -transit	(31,459)
Accounts payable	(194)
Accrued liabilities	(265)
Deferred revenue	(2,805)
Business combination, recognized identifiable assets acquired and liabilities assumed, Net	145,524
Finovera Inc [Member]
Business Acquisition [Line Items]
Cash	65		$ 5,000
Accounts receivable	267
Prepaid expenses and other current assets	39
Intangible assets, includes software acquired	6,048
Goodwill	7,266
Accounts payable	(85)
Accrued liabilities	(72)
Deferred taxes	(588)
Business combination, recognized identifiable assets acquired and liabilities assumed, Net	$ 12,940

Business Combinations - Sched_2

Business Combinations - Schedule Of Fair Values And Estimated Useful Lives Of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Payveris L L C [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 38,249
Finovera Inc [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 6,048
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	8 years	8 years
Customer Relationships [Member] | Payveris L L C [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 26,154
Estimated useful life	8 years
Customer Relationships [Member] | Finovera Inc [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 893
Estimated useful life	2 years
Trademarks [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	4 years	4 years
Trademarks [Member] | Payveris L L C [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 3,993
Estimated useful life	4 years
Developed Technology Rights [Member] | Payveris L L C [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 8,102
Estimated useful life	4 years
Developed Technology Rights [Member] | Finovera Inc [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value	$ 5,155
Estimated useful life	4 years

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Total property and equipment	$ 7,302	$ 6,835
Less: Accumulated depreciation and amortization	(5,147)	(4,791)
Property and equipment, net	2,155	2,044
Computer Equipment [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	5,357	4,934
Furniture And Fixtures [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	1,485	1,456
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	$ 460	$ 445

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation, Depletion and Amortization	$ 0.3	$ 0.2

Goodwill, Internal-use Softwa_3

Goodwill, Internal-use Software Development Costs and Intangible Assets - Summary of Goodwill by Reporting Units (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Goodwill [Line Items]
Beginning Balance	$ 129,413
Foreign currency translation adjustments	4
Ending Balance	129,417
United States [Member]
Goodwill [Line Items]
Beginning Balance	128,519
Foreign currency translation adjustments	0
Ending Balance	128,519
Other [Member]
Goodwill [Line Items]
Beginning Balance	894
Foreign currency translation adjustments	4
Ending Balance	$ 898

Goodwill, Internal-use Softwa_4

Goodwill, Internal-use Software Development Costs and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill [Line Items]
Capitalized internal-use software development costs	$ (6,731)	$ (4,256)
Amortization of Intangible Assets	2,100	100
Cost Of Revenue [Member]
Goodwill [Line Items]
Amortizaion expense of capitalized software costs	1,700	1,100
Operating Expense [Member]
Goodwill [Line Items]
Amortizaion expense of capitalized software costs	$ 1,400	$ 1,000
Maximum [Member] | Computer Software, Intangible Asset [Member]
Goodwill [Line Items]
Capitalized cost amortization estimated useful life	5 years

Goodwill, Internal-use Softwa_5

Goodwill, Internal-use Software Development Costs and Intangible Assets - Summary of Intagible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 62,524	$ 62,405
Accumulated Amortization	(22,485)	(20,317)
Net Carrying Amount	40,039	42,088
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	20,851	20,837
Accumulated Amortization	(9,513)	(8,655)
Net Carrying Amount	$ 11,338	$ 12,182
Weighted-Average Useful Life (Years)	4 years	4 years
License [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,718	$ 2,652
Accumulated Amortization	(2,718)	(2,652)
Net Carrying Amount	0	0
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	33,848	33,830
Accumulated Amortization	(8,969)	(8,021)
Net Carrying Amount	$ 24,879	$ 25,809
Weighted-Average Useful Life (Years)	8 years	8 years
Software [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 914	$ 893
Accumulated Amortization	(503)	(456)
Net Carrying Amount	$ 411	$ 437
Weighted-Average Useful Life (Years)	3 years	3 years
Trademark [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,193	$ 4,193
Accumulated Amortization	782	533
Net Carrying Amount	$ 3,411	$ 3,660
Weighted-Average Useful Life (Years)	4 years	4 years

Goodwill, Internal-use Softwa_6

Goodwill, Internal-use Software Development Costs and Intangible Assets - Schedule of Expected Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (remaining nine months)	$ 6,172
2023	8,061
2024	7,636
2025	6,169
2026	3,283
Thereafter	8,718
Total future amortization expense	$ 40,039	$ 42,088

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	Mar. 31, 2022USD ($)
Lessee Lease Description [Line Items]
Operating lease term	5 years
Future operating lease payments	$ 4.2
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease, remaining lease term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease, remaining lease term	10 years

Leases - Schedule of Components

Leases - Schedule of Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease cost	$ 524	$ 852
Depreciation expense	68	66
Interest on finance lease liabilities	3	5
Total finance lease cost	71	71
Short-term lease cost	451	91
Total lease cost	$ 1,046	$ 1,014

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$ 539	$ 724
Operating cash flows for finance lease	3	5
Financing cash flows for finance leases	74	68
Right-of-use assets obtained in exchange of operating lease obligations	$ 297	$ 97

Leases - Summary of Remaining L

Leases - Summary of Remaining Lease Payments under Non-Cancelable Operating and Finance Leases (Details) $ in Thousands	Mar. 31, 2022USD ($)
Operating Leases:
2022 (remaining nine months)	$ 1,347
2023	1,028
2024	857
2025	868
2026	879
Thereafter	3,783
Total minimum lease payments including interest	8,762
Less imputed interest	(854)
Total lease liabilities	7,908
Finance Leases:
2022 (remaining nine months)	204
2023	107
2024	0
2025	0
2026	0
Thereafter	0
Total minimum lease payments including interest	311
Less imputed interest	(5)
Total lease liabilities	$ 306

Accrued Liabilities - Summary o

Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Payroll and employee-related expenses	$ 8,748	$ 8,093
Finance leases and other financing obligations	1,503	2,382
Other accrued liabilities	2,252	2,016
Accrued liabilities	$ 12,503	$ 12,491

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Other commitments, description	The Company has entered into certain non-cancellable agreements for software and marketing services that specify all significant terms, including fixed or minimum services to be used, pricing provisions and the approximate timing of the transaction. Obligations under contracts that are cancellable or with remaining terms of 12 months or less are not included. There have been no material changes to the Company's contractual obligations or commitments outside of the ordinary course of business as compared to those described in the 2021 Form 10-K.
Contributions under plan	$ 200,000	$ 0

Equity - Additional Information

Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	May 31, 2021	May 13, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Common stock, par value				$ 18.38
Common Stock, Terms of Conversion	Shares of Class B common stock may be converted to Class A common stock at any time at the option of the stockholder. Shares of Class B common stock automatically convert to Class A common stock upon the following: (i) sale or transfer of such share of Class B common stock; (ii) the death of the Class B common stockholder (or nine months after the date of death if the stockholder is one of the Company’s founders); and (iii) on the first trading day on or after the date on which the outstanding shares of Class B common stock represent less than 10% of the then outstanding Class A and Class B common stock. Following the conversion of all outstanding shares of Class B common stock into Class A common stock, no further shares of Class B common stock will be issued.
Preferred stock, $0.0001 par value per share, 5,000,000 and zero shares authorized at September 30, 2021 and December 31, 2020, respectively, none issued and outstanding at September 30, 2021 and December 31, 2020, respectively	$ 0	$ 0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Warrant Issue				509,370
Fully Vested				382,027
Vesting of the Remaining Shares of the Warrant				127,343
Change in equity valuation	$ 0
Class A Common Stock [Member]
Class Of Stock [Line Items]
Common stock, shares authorized	883,950,000	883,950,000
Common Stock, Voting Rights	one
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares issued	17,715,046	17,251,079
Class A Common Stock [Member] | IPO [Member]
Class Of Stock [Line Items]
Common stock, shares issued			11,500,000
Class B Common Stock [Member]
Class Of Stock [Line Items]
Common stock, shares authorized	111,050,000	111,050,000
Common Stock, Voting Rights	one
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares issued	103,336,337	103,388,082			0
Series A Preferred Stock [Member]
Class Of Stock [Line Items]
Dividends, Preferred Stock	$ 34,400
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Series A Preferred Stock [Member] | IPO [Member]
Class Of Stock [Line Items]
Preferred stock, $0.0001 par value per share, 5,000,000 and zero shares authorized at September 30, 2021 and December 31, 2020, respectively, none issued and outstanding at September 30, 2021 and December 31, 2020, respectively	$ 57,400

Stock-Based compensation - Addi

Stock-Based compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	May 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance		14,803,281
Weighted average grant date fair value of options granted			$ 3.02
Options granted in period		0
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 13.4
Total unrecognized compensation cost, recognition period		4 years 1 month 6 days
RSUs vested		0
Class A & Class B Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of annual increase of outstanding shares				4.00%
Maximum [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs vest over the requisite service period		5 years
Minimum [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs vest over the requisite service period		4 years
Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 4.6
Total unrecognized compensation cost, recognition period		2 years 3 months 18 days
Equity Incentive Plan [Member] | Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance	10,459,000	4,825,566
Options granted in period	7,563,990

Stock-Based compensation - Sche

Stock-Based compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Options Outstanding, Beginning	6,848,660
Options granted	0
Options exercised	412,222
Options forfeited	(2,500)
Options Outstanding, Ending	6,433,938	6,848,660
Options Outstanding, Exercisable	4,771,999
Weighted Average Exercise Price, Beginning	$ 5.05
Weighted Average Exercise Price, Exercised	0.03
Weighted Average Exercise Price, Forfeited	8.66
Weighted Average Exercise Price, Ending	5.37	$ 5.05
Weighted Average Exercise Price, Exercisable	$ 4.23
Weighted Average Remaining Contractual Term (years)	4 years 11 months 23 days	4 years 11 months 23 days
Weighted Average Remaining Contractual Term (years), Exercisable	4 years 1 month 24 days
Aggregate Intrinsic Value, Beginning	$ 204,977
Aggregate Intrinsic Value, Ending	101,073	$ 204,977
Aggregate Intrinsic Value, Exercisable	$ 80,398

Stock-Based compensation - Sc_2

Stock-Based compensation - Schedule of Stock Option Grant Using Black-Scholes Option Pricing Model With Assumptions (Details)	3 Months Ended
	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%
Risk-free interest rate, minimum	0.30%
Risk-free interest rate, maximum	0.70%
Expected volatility, minimum	38.00%
Expected volatility, maximum	42.00%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	3 years
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	5 years

Stock Based Compensation - Summ

Stock Based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded and unvested, Beginning Balance | shares | shares	512,637
Awards, Granted | shares | shares	75,730
Awards, Vested | shares | shares	0
Awards,Forfeited | shares | shares	(16,142)
Awarded and unvested, Ending Balance | shares | shares	572,225
Weighted Average Grant-Date Fair Value, Unvested, Beginning Balance | $ / shares | $ / shares	$ 25.93
Weighted Average Grant-Date Fair Value, Granted | $ / shares | $ / shares	27.85
Weighted Average Grant-Date Fair Value, Vested | $ / shares | $ / shares	0
Weighted Average Grant-Date Fair Value, Forfeited | $ / shares | $ / shares	26.13
Weighted Average Grant-Date Fair Value, Unvested, Ending Balance | $ / shares | $ / shares	$ 26.18

Stock-Based compensation - Summ

Stock-Based compensation - Summary of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 1,276	$ 563
Cost Of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	0	0
Research and Development [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	285	16
Sales and Marketing [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	223	17
General and Administrative [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 768	$ 530

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2022
Effective tax rate	195.80%	25.00%
Excess tax benefits on stock-based compensation	$ 2.6
Difference between effective tax rate and federal statutory rate		21.00%
Forecast
Effective tax rate			30.60%

Net Income Per Share Attribut_3

Net Income Per Share Attributable to Common Stock - Schedule of Computation of Basic and Diluted Net Income Per Share Attributable to Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income	$ 1,718	$ 3,638
Undeclared dividends on Series A preferred stock	0	(1,360)
Net income attributable to common stock	$ 1,718	$ 2,278
Denominator:
Weighter-average shares of common stock - basic	120,897,576	103,479,239
Dilutive effect of stock options to purchase common stock	4,976,726	2,824,655
Dilutive effect of RSUs	26,347	0
Dilutive effect of warrants	85,861	0
Weighter-average shares of common stock - diluted	125,986,510	106,303,894
Net income (loss) per share attributable to common stock
Basic	$ 0.01	$ 0.02
Diluted	$ 0.01	$ 0.02

Net Income Per Share Attribut_4

Net Income Per Share Attributable to Common Stock - Schedule of Common Stock Equivalents Excluded from Income (Loss) Per Diluted Share (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
RSU [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	7,748	0

Net Income Per Share Attribut_5

Net Income Per Share Attributable to Common Stock - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
RSU [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	7,748	0

Geographic Information - Summar

Geographic Information - Summary of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 116,704	$ 92,222
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	113,960	90,307
Other [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Revenue	$ 2,744	$ 1,915

Geographic Information - Summ_2

Geographic Information - Summary of Long-lived Assets by Geographic Areas (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Revenues From External Customers And Long Lived Assets [Line Items]
Long-lived assets, comprising property and equipment assets	$ 2,155	$ 2,044
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Long-lived assets, comprising property and equipment assets	702	588
Other [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Long-lived assets, comprising property and equipment assets	$ 1,453	$ 1,456

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Millions	Sep. 01, 2021	Dec. 31, 2021
Subsequent Event [Line Items]
Cash payment to acquire business, gross		$ 8.5
Payveris LLC [Member]
Subsequent Event [Line Items]
Cash payment to acquire business, gross	$ 145.5
Payveris LLC [Member] | Common Class A [Member]
Subsequent Event [Line Items]
Issuance of shares (in shares)	2,471