EverCommerce (EVCM) 10-Q 9 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	May 05, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-40575
Entity Registrant Name	EverCommerce Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-4063248
Entity Address, Address Line One	3601 Walnut Street, Suite 400
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80205
City Area Code	720
Local Phone Number	647-4948
Title of 12(b) Security	Common stock, $0.00001 par value
Trading Symbol	EVCM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		187,934,868
Entity Central Index Key	0001853145
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 69,786	$ 92,625
Restricted cash	3,522	3,199
Accounts receivable, net of allowance for expected credit losses of $5.7 million and $4.7 million at March 31, 2023 and December 31, 2022, respectively	48,038	48,032
Contract assets	14,748	12,971
Prepaid expenses and other current assets	27,182	23,760
Total current assets	163,276	180,587
Property and equipment, net	11,391	11,930
Capitalized software, net	34,826	32,554
Other non-current assets	44,527	46,855
Intangible assets, net	382,779	405,720
Goodwill	913,774	914,082
Total assets	1,550,573	1,591,728
Current liabilities:
Accounts payable	8,127	8,373
Accrued expenses and other	57,071	56,963
Deferred revenue	24,205	22,885
Customer deposits	10,435	11,360
Current maturities of long-term debt	5,500	5,500
Total current liabilities	105,338	105,081
Long-term debt, net of current maturities and deferred financing costs	529,886	530,946
Other non-current liabilities	52,359	49,008
Total liabilities	687,583	685,035
Commitments and contingencies (Note 15)
Stockholders’ equity:
Preferred stock, $0.00001 par value, 50,000,000 shares authorized and no shares issued or outstanding as of March 31, 2023 and December 31, 2022	0	0
Common stock, $0.00001 par value, 2,000,000,000 shares authorized and 188,773,974 and 191,447,237 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	2	2
Accumulated other comprehensive loss	(10,297)	(10,198)
Additional paid-in capital	1,468,415	1,489,935
Accumulated deficit	(595,130)	(573,046)
Total stockholders’ equity	862,990	906,693
Total liabilities and stockholders’ equity	$ 1,550,573	$ 1,591,728

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for expected credit losses	$ 5.7	$ 4.7
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	188,773,974	191,447,237
Common stock, shares outstanding (in shares)	188,773,974	191,447,237

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues:
Total revenues	$ 161,136	$ 143,576
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization presented separately below)	55,946	50,745
Sales and marketing	30,899	30,145
Product development	18,703	17,637
General and administrative	34,926	31,226
Depreciation and amortization	25,950	27,391
Total operating expenses	166,424	157,144
Operating loss	(5,288)	(13,568)
Interest and other expense, net	(15,188)	(5,478)
Net loss attributable to common stockholders before income tax benefit (expense)	(20,476)	(19,046)
Income tax benefit (expense)	(299)	5,737
Net loss attributable to common stockholders, basic	(20,775)	(13,309)
Net loss attributable to common stockholders, diluted	(20,775)	(13,309)
Other comprehensive loss:
Foreign currency translation losses, net	(99)	(664)
Comprehensive loss attributable to common stockholders	$ (20,874)	$ (13,973)
Basic net loss per share attributable to common stockholders (in dollars per share)	$ (0.11)	$ (0.07)
Diluted net loss per share attributable to common stockholders (in dollars per share)	$ (0.11)	$ (0.07)
Basic weighted-average shares of common stock outstanding used in computing net loss per share (in shares)	190,042,673	195,432,404
Diluted weighted-average shares of common stock outstanding used in computing net loss per share (in shares)	190,042,673	195,432,404
Subscription and transaction fees
Revenues:
Total revenues	$ 123,820	$ 108,001
Marketing technology solutions
Revenues:
Total revenues	31,788	29,904
Other
Revenues:
Total revenues	$ 5,528	$ 5,671

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders’ Equity (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2021			0	195,384
Beginning balance at Dec. 31, 2021	$ 985,648		$ 0	$ 2	$ 1,500,643	$ (513,230)		$ (1,767)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	6,135				6,135
Stock option exercises (in shares)				126
Stock option exercises	723				723
Foreign currency translation losses, net	(664)							(664)
Net loss	(13,309)					(13,309)
Ending balance (in shares) at Mar. 31, 2022			0	195,510
Ending balance at Mar. 31, 2022	978,533		$ 0	$ 2	1,507,501	(526,539)		(2,431)
Beginning balance (in shares) at Dec. 31, 2021			0	195,384
Beginning balance at Dec. 31, 2021	985,648		$ 0	$ 2	1,500,643	(513,230)		(1,767)
Ending balance (in shares) at Dec. 31, 2022			0	191,447
Ending balance at Dec. 31, 2022	$ 906,693	$ (1,309)	$ 0	$ 2	1,489,935	(573,046)	$ (1,309)	(10,198)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Common stock issued upon vesting of restricted stock units (in shares)				348
Stock-based compensation	$ 7,514				7,514
Stock option exercises (in shares)	103			103
Stock option exercises	$ 609				609
Repurchase and retirement of common stock (in shares)	(3,100)			(3,124)
Repurchase and retirement of common stock	$ (29,643)				(29,643)
Foreign currency translation losses, net	(99)							(99)
Net loss	(20,775)					(20,775)
Ending balance (in shares) at Mar. 31, 2023			0	188,774
Ending balance at Mar. 31, 2023	$ 862,990		$ 0	$ 2	$ 1,468,415	$ (595,130)		$ (10,297)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows provided by operating activities:
Net loss	$ (20,775)	$ (13,309)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	25,950	27,391
Stock-based compensation expense	7,514	6,135
Deferred taxes	(177)	(5,990)
Amortization of deferred financing costs and non-cash interest	413	539
Bad debt expense	1,314	460
Other non-cash items	5,704	0
Changes in operating assets and liabilities:
Accounts receivable, net	(2,634)	(2,261)
Prepaid expenses and other current assets	(5,350)	(5,717)
Other non-current assets	1,278	(691)
Accounts payable	(247)	(2,122)
Accrued expenses and other	(848)	3,498
Deferred revenue	1,321	4,060
Other non-current liabilities	(763)	861
Net cash provided by operating activities	12,700	12,854
Cash flows used in investing activities:
Purchases of property and equipment	(476)	(889)
Capitalization of software costs	(4,381)	(3,503)
Net cash used in investing activities	(4,857)	(4,392)
Cash flows used in financing activities:
Payments on debt	(1,375)	(1,375)
Exercise of stock options	609	723
Repurchase and retirement of common stock	(29,643)	0
Net cash used in financing activities	(30,409)	(652)
Effect of foreign currency exchange rate changes on cash	50	(370)
Net increase (decrease) in cash and cash equivalents and restricted cash	(22,516)	7,440
Cash and cash equivalents and restricted cash:
Beginning of period	95,824	97,559
End of period	73,308	104,999
Supplemental disclosures of cash flow information:
Cash paid for interest	10,632	4,943
Cash paid for income taxes	$ 517	$ 235

Nature of the Business

Nature of the Business	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business	Nature of the BusinessEverCommerce Inc. and subsidiaries (the “Company” or “EverCommerce”) is a leading provider of integrated software-as-a-service (“SaaS”) solutions or services for service-based small- and medium-sized businesses (“service SMBs”). Our platform spans across the full lifecycle of interactions between consumers and service professionals with vertical-specific applications. Today, the Company serves more than 685,000 customers across three core verticals: Home Services; Health Services; and Fitness & Wellness Services. Within the core verticals, customers operate within numerous micro-verticals, ranging from home service professionals, such as construction contractors and home maintenance technicians, to physician practices and therapists in the Health Services industry, to personal trainers and salon owners in the Fitness & Wellness sectors. The platform provides vertically-tailored SaaS solutions that address service SMBs’ increasingly nuanced demands, as well as highly complementary solutions that complete end-to-end offerings, allowing service SMBs and EverCommerce to succeed in the market, and provide end consumers more convenient service experiences. The Company is headquartered in Denver, Colorado, and has operations across the United States, Canada, Jordan, United Kingdom, Australia and New Zealand.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2022 and the related notes (“Annual Report on Form 10-K”). The December 31, 2022 condensed consolidated balance sheet was derived from our audited consolidated financial statements as of that date. Our unaudited interim condensed consolidated financial statements include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the unaudited condensed consolidated financial statements. All intercompany accounts and transactions have been eliminated in consolidation. There have been no significant changes in accounting policies during the three months ended March 31, 2023 from those disclosed in the annual consolidated financial statements for the year ended December 31, 2022 and the related notes. The operating results for the three months ended March 31, 2023 are not necessarily indicative of the results expected for the full year ending December 31, 2023. Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain amounts reported in the unaudited condensed consolidated financial statements, including the accompanying notes. The Company bases its estimates on historical factors, current circumstances, and the experience and judgment of management. The Company evaluates its estimates and assumptions on an ongoing basis. Actual results could differ from those estimates. Significant estimates reflected in the consolidated financial statements include revenue recognition, allowance for doubtful accounts, valuation allowances with respect to deferred tax assets, assumptions underlying the fair value used in the calculation of stock-based compensation, valuation of intangible assets and goodwill and useful lives of tangible and intangible assets, among others. Emerging Growth Company As an emerging growth company (“EGC”), the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are applicable to private companies. The Company has elected to use the extended transition period under the JOBS Act until the earlier of the date that it is (i) no longer an EGC or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. The adoption dates are discussed below to reflect this election within the “Recently Issued Accounting Pronouncements” section. Recently Issued Accounting Pronouncements Accounting pronouncements issued and adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326); Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost, which includes the Company’s accounts receivable and contract assets. This updated standard is effective for annual reporting periods beginning after December 15, 2022. The Company adopted this ASU for the year ending December 31, 2023 and it did not have a material impact on the financial statements. In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which amends the guidance in ASC 805 to require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. FASB’s objective in issuing the ASU is to improve the accounting for acquired revenue contracts with customers in a business combination by addressing diversity and inconsistency related to both the recognition of an acquired contract liability and payment terms’ effects on subsequent revenue recognized by the acquirer. This updated standard is effective for annual reporting periods beginning after December 15, 2022. The Company adopted this ASU for the year ending December 31, 2023 and it had no impact on the financial statements, but will have an impact on any future acquisitions.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The following tables present a disaggregation of our revenue from contracts with customers by revenue recognition pattern and geographical market: Three months ended 2023 2022 (in thousands) By pattern of recognition (timing of transfer of services): Point in time $ 14,738 $ 12,106 Over time 146,398 131,470 Total $ 161,136 $ 143,576 By geographical market: United States $ 148,965 $ 130,286 International 12,171 13,290 Total $ 161,136 $ 143,576 Contract Balances Supplemental balance sheet information related to contracts from customers as of: March 31, December 31, 2023 2022 (in thousands) Accounts receivable, net $ 48,038 $ 48,032 Contract assets $ 14,748 $ 12,971 Deferred revenue $ 24,205 $ 22,885 Customer deposits $ 10,435 $ 11,360 Long-term deferred revenue $ 2,394 $ 2,496 Accounts receivable, net: Accounts receivable, net of allowance for expected credit losses, represent rights to consideration in exchange for products or services that have been transferred by us, when payment is unconditional and only the passage of time is required before payment is due. Contract assets: Contract assets represent rights to consideration in exchange for products or services that have been transferred (i.e., the performance obligation or portion of the performance obligation has been satisfied), but payment is conditional on something other than the passage of time. These amounts typically relate to contracts that include on-premise licenses and professional services where the right to payment is not present until completion of the contract or achievement of specified milestones and the fair value of products or services transferred exceed this constraint. Contract liabilities : Contract liabilities represent our obligation to transfer products or services to a customer for which consideration has been received in advance of the satisfaction of performance obligations. Short-term contract liabilities are included within deferred revenue on the consolidated balance sheets. Long-term contract liabilities are included within long-term deferred revenue on the consolidated balance sheets. Revenue recognized from the contract liability balance at December 31, 2022 was $16.0 million for the three months ended March 31, 2023. Customer deposits : Customer deposits relate to payments received in advance for contracts, which allow the customer to terminate a contract and receive a pro rata refund for the unused portion of payments received to date. In these arrangements, we have concluded there are no enforceable rights and obligations during the period in which the option to cancel is exercisable by the customer and therefore the consideration received is recorded as a customer deposit liability. Remaining Performance Obligations Remaining performance obligations represent the transaction price of unsatisfied or partially satisfied performance obligations within contracts with an original expected contract term that is greater than one year for which fulfillment of the contract has started as of the end of the reporting period. Variable consideration accounted for under the variable consideration allocation exception associated with unsatisfied performance obligations or an unsatisfied promise that forms part of a single performance obligation under application of the series guidance have been excluded. Remaining performance obligations generally relate to those which are stand-ready in nature, as found within the subscription and marketing technology solutions revenue streams. The aggregate amount of transaction consideration allocated to remaining performance obligations as of March 31, 2023, was $20.5 million, which is comprised of contracts where the contract term under ASC 606 is in excess of one year. The Company expects to recognize approximately 60% of its remaining performance obligations as revenue within the next year, 28% of its remaining performance obligations as revenue the subsequent year, 9% of its remaining performance obligations as revenue in the third year, and the remainder during the two year period thereafter. Cost to Obtain and Fulfill a Contract The Company incurs certain costs to obtain contracts, principally sales and third-party commissions, which the Company capitalizes when the liability has been incurred if they are (i) incremental costs of obtaining a contract, (ii) expected to be recovered and (iii) have an expected amortization period that is greater than one year (as the Company has elected the practical expedient to expense any costs to obtain a contract when the liability is incurred if the amortization period of such costs would be one year or less). Assets resulting from costs to obtain contracts are included within prepaid expenses and other current assets for short-term balances and other non-current assets for long-term balances on the Company’s consolidated balance sheets. The costs to obtain contracts are amortized over five years, which corresponds with the useful life of the related capitalized software. Short-term assets were $7.1 million and $6.6 million at March 31, 2023 and December 31, 2022, respectively, and long-term assets were $15.8 million and $15.1 million at March 31, 2023 and December 31, 2022, respectively. The Company recorded amortization expense within sales and marketing on the condensed consolidated statements of operations and comprehensive loss of $1.3 million and $0.9 million for the three months ended March 31, 2023 and 2022, respectively. The Company recorded amortization expense within cost of revenues on the condensed consolidated statements of operations and comprehensive loss of $0.5 million and $0.4 million for the three months ended March 31, 2023 and 2022, respectively. The Company has concluded that there are no other material costs incurred in fulfillment of customer contracts that are not accounted for under other GAAP, which meet the capitalization criteria under ASC 606 and FASB ASC Topic 340-40, Accounting for Other Assets and Deferred Costs (“ASC 340-40”).

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Goodwill activity consisted of the following for the three months ended March 31, 2023 (in thousands): Balance at December 31, 2022 $ 914,082 Effect of foreign currency exchange rate changes (308) Balance at March 31, 2023 $ 913,774

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following as of: March 31, 2023 Useful Gross Carrying Accumulated Net Book (in thousands) Customer relationships 3-20 years $ 605,984 $ 283,122 $ 322,862 Developed technology 2-12 years 105,812 63,377 42,435 Trade name 3-10 years 38,141 20,914 17,227 Non-compete agreements 2-5 years 2,402 2,147 255 Total $ 752,339 $ 369,560 $ 382,779 December 31, 2022 Useful Gross Carrying Accumulated Net Book (in thousands) Customer relationships 3-20 years $ 605,753 $ 265,342 $ 340,411 Developed technology 2-12 years 105,766 59,208 46,558 Trade name 3-10 years 38,131 19,725 18,406 Non-compete agreements 2-5 years 2,402 2,057 345 Total $ 752,052 $ 346,332 $ 405,720 Amortization expense was $23.2 million and $25.2 million for the three months ended March 31, 2023 and 2022, respectively.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consisted of the following as of: March 31, December 31, 2023 2022 (in thousands) Computer equipment and software $ 9,625 $ 9,327 Furniture and fixtures 3,720 3,570 Leasehold improvements 11,977 11,941 Total property and equipment 25,322 24,838 Less accumulated depreciation (13,931) (12,908) Property and equipment, net $ 11,391 $ 11,930 Depreciation expense was $1.0 million for each of the three months ended March 31, 2023 and 2022.

Capitalized Software

Capitalized Software	3 Months Ended
	Mar. 31, 2023
Research and Development [Abstract]
Capitalized Software	Capitalized Software Capitalized software consisted of the following as of: March 31, December 31, 2023 2022 (in thousands) Capitalized software $ 49,958 $ 45,872 Less: accumulated amortization (15,132) (13,318) Capitalized software, net $ 34,826 $ 32,554 Amortization expense was $1.8 million and $1.2 million for the three months ended March 31, 2023 and 2022, respectively. During the ordinary course of business, the Company may determine that certain capitalized features of its software will no longer be used either internally or to deliver value to its customers. During the three months ended March 31, 2023 the Company recorded a charge to general and administrative on the accompanying

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Leases The Company leases real estate from unrelated parties under operating lease agreements that have initial terms ranging from one year to 11 years. Some leases include one or more options to renew, generally at our sole discretion, of five additional years each. The components of lease expense are as follows: Three months ended 2023 2022 (in thousands) Operating lease cost $ 1,624 $ 2,117 Variable lease cost 495 374 Short-term lease cost 55 89 Total lease cost $ 2,174 $ 2,580 Supplemental cash flow information related to leases is as follows: Three months ended 2023 2022 (in thousands) Cash paid for amounts included in measurement of lease liabilities: Operating cash outflows - payments on operating leases $ 1,842 $ 1,771 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ — $ 540 Supplemental balance sheet information, included in other non-current assets accrued expenses and other other non-current liabilities March 31, December 31, 2023 2022 (in thousands) Operating lease right-of-use assets $ 19,762 $ 21,756 Current operating lease liabilities 4,789 5,239 Long-term operating lease liabilities 21,702 22,500 Total operating lease liabilities $ 26,491 $ 27,739 At March 31, 2023 and December 31, 2022, the weighted average remaining lease term for operating leases was 6.19 years and 6.34 years, respectively, and the weighted average discount rate w as 4.8%. Future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities recognized on the balance sheet as of March 31, 2023 is as follows (in thousands): Year ended December 31, 2023 (remainder of year) $ 4,767 2024 4,952 2025 4,563 2026 4,414 2027 3,990 Thereafter 8,590 Total lease payments 31,276 Less: imputed interest 4,785 Total present value of lease liabilities $ 26,491

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following as of: March 31, December 31, 2023 2022 (in thousands) Term notes with interest payable monthly, interest rate at Adjusted LIBOR or Alternative Base Rate, plus an applicable mar gin of 3.25% (7.88% at March 31, 2023) quarterly principal payments of 0.25% of original principal balance with balloon payment due July 2028 $ 541,750 $ 543,125 Revolver with interest payable monthly, interest rate at Adjusted LIBOR or Alternative Base Rate, plus an applicable margin of 3.25% ( 8.09% at March 31, 2023), and outstanding balance due July 2026 — — Principal debt 541,750 543,125 Deferred financing costs on long-term debt (4,669) (4,900) Discount on long-term debt (1,695) (1,779) Total debt 535,386 536,446 Less current maturities 5,500 5,500 Long-term portion $ 529,886 $ 530,946 In 2021, the Company agreed to two term loans for an aggregate principal amount of $550.0 million (“Term Loans”), a revolver with a capacity of $190.0 million (“Revolver”) and a sub-limit of the Revolver available for letters of credit up to an aggregate face amount of $20.0 million. These debt arrangements are collectively referred to herein as the (“Credit Facilities”). The Company determines the fair value of long-term debt based on trading prices for its debt if available. As of March 31, 2023, the Company obtained trading prices for the term notes outstanding. However, as such trading prices require significant unobservable inputs to the pricing model, such instruments are classified as Level 2. If no such trading prices are available, the Company determines the fair value of long-term debt using discounted cash flows, applying current interest rates and current credit spreads, based on its own credit risk. The fair value amounts were approximately $535.0 million and $531.6 million as of March 31, 2023 and December 31, 2022, respectively. Effective October 31, 2022, the Company entered into an interest rate swap agreement in connection with the Company’s Credit Facilities for a notional amount of $200.0 million to convert a portion of the Term Loans from a floating rate to a fixed rate. The swap agreement has a term of five years with a fixed rate in the agreement of 4.2295%. Additionally, effective March 31, 2023, the Company entered into a second interest rate swap agreement in connection with the Company’s Credit Facilities for a notional amount of $100.0 million to convert a portion of the Term Loans from a floating rate to a fixed rate. This swap agreement has a term of approximately 4.5 years with a fixed rate in the agreement of 3.9690% (the “Swap Agreements”). The Swap Agreements are accounted for as derivatives whereby the fair value of the contracts are reported in other non-current assets or other non-current liabilities on the consolidated balance sheet, and gains and losses resulting from changes in the fair value are reported in interest and other expense, net, in the statement of operations and comprehensive loss. As of March 31, 2023 the fair value of the Swap Agreements was a liability of $7.1 million and reported in other non-current liabilities on the condensed consolidated balance sheet. The Company’s Credit Facilities are subject to certain financial and nonfinancial covenants and are secured by substantially all assets of the Company. As of March 31, 2023, the Company was in compliance with all of its covenants. Aggregate maturities of the Company’s debt for the years ending December 31 are as follows as of March 31, 2023 (in thousands): Years ending December 31: 2023 (remainder of year) $ 4,125 2024 5,500 2025 5,500 2026 5,500 2027 5,500 Thereafter 515,625 Total aggregate maturities of the Company’s debt $ 541,750

Equity

Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Equity	Equity On July 6, 2021, the Company filed an Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to authorize the issuance up to 2,050,000,000 shares, par value $0.00001 per share, consisting of 2,000,000,000 shares of common stock and 50,000,000 shares of preferred stock. On June 14, 2022, our Board of Directors approved a stock repurchase program (the “Repurchase Program”) wi th authorization to purchase up to $50.0 million in shares of the Company’s common stock through the expiration of the program on December 21, 2022. Repurchases under the program may be made in the open market, in privately negotiated transactions or otherwise, with the amount and timing of repurchases to be determined at the Company’s discretion, depending on market conditions and corporate needs. This program does not obligate the Company to acquire any particular amount of common stock and may be modified, suspended or terminated at any time at the discretion of the Board of Directors. The Company expects to fund repurchases with existing cash on hand. On November 7, 2022, our Board of Directors approved an expansion of the Repurchase Program with authorization to purchase up to an additional $50.0 million in shares of the Company’s common stock ($100.0 million total) and an extension to the expiration of the Repurchase Program through December 31, 2023. The Company repurchased and retired 3.1 million shares of common stock for $29.6 million, including transaction fees, d uring the three months ended March 31, 2023. As of March 31, 2023, $27.6 million remains available under the Repurchase Program.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation In 2016, the Company adopted the 2016 Equity Incentive Plan (the “2016 Plan”). The 2016 Plan provided for the granting of stock-based awards, including stock options, stock appreciation rights, restricted or unrestricted stock awards, phantom stock, performance awards, and other stock-based awards. In connection with the IPO, the Company’s board of directors adopted, and the Company’s stockholders approved, the 2021 Incentive Award Plan (the “2021 Plan”), which became effective immediately prior to the effectiveness of the registration statement for the Company’s IPO and, as a result of which, the Company can no longer make awards under the 2016 Plan. The 2021 Plan provides for the issuance of incentive stock options, non-qualified stock options, stock awards, stock units, stock appreciation rights and other stock-based awards. The number of shares initially reserved for issuance under the 2021 Plan was 22,000,000 shares, inclusive of available shares previously reserved for issuance under the 2016 Plan. In addition, the number of shares reserved for issuance under the 2021 Plan is subject to an annual increase on the first day of each calendar year beginning on January 1, 2022 and ending on and including January 1, 2031, equal to the lesser of (i) 3% of the shares outstanding (on an as-converted basis) on the last day of the immediately preceding fiscal year and (ii) such smaller number of shares as determined by the Company’s board of directors, provided that no more than 22,000,000 shares may be issued upon the exercise of incentive stock options. Based on the Company’s outstanding shares of common stock as of December 31, 2022, as of January 1, 2023 the number of shares reserved for issuance under the 2021 Plan increased by 5.7 million. In connection with the IPO, the Company’s board of directors adopted the 2021 Employee Stock Purchase Plan (the “ESPP”). For more information on the ESPP, refer to Note 12 in the Annual Report on Form 10-K. The following table summarizes our restricted stock unit (“RSU”) and stock option activity for the three months ended March 31, 2023: RSUs Options (in thousands) Outstanding as of January 1, 2023 2,022 16,937 Granted 2,839 — Vested or exercised (347) (103) Cancelled or forfeited (24) (78) Outstanding as of March 31, 2023 4,490 16,756 As of March 31, 2023, total unrecognized compensation expense was $40.9 million and $18.1 million related to outstanding restricted stock units and outstanding stock options, respectively. Stock-based compensation expense was classified in the unaudited condensed consolidated statements of operations and comprehensive loss as follows: Three months ended 2023 2022 (in thousands) Cost of revenues $ 108 $ 82 Sales and marketing 402 328 Product development 562 392 General and administrative 6,442 5,333 Total stock-based compensation expense $ 7,514 $ 6,135

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders The following table presents the calculation of basic and diluted net loss per share for the Company’s common stock as of: Three months ended 2023 2022 (in thousands except share and per share amounts) Numerator for basic and diluted EPS – net loss attributable to common stockholders $ (20,775) $ (13,309) Denominator: Denominator for basic and diluted EPS – weighted-average shares of common stock outstanding used in computing net loss per share 190,042,673 195,432,404 Basic and diluted net loss per share attributable to common stockholders $ (0.11) $ (0.07) The following outstanding potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented due to their anti-dilutive effect as of: March 31, 2023 2022 Outstanding options to purchase common stock and unvested RSUs 21,245,514 19,690,100 Total anti-dilutive outstanding potential common stock 21,245,514 19,690,100

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial InstrumentsFair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair value. The Company measures fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The Company utilizes a three-tier hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: • Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities that an entity has the ability to access. • Level 2: Valuations based on quoted prices for similar assets or liabilities, quoted prices for identical assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. The Company has no assets or liabilities valued with Level 2 inputs. • Level 3: Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The carrying value of cash and cash equivalents, accounts receivable, contract assets and accounts payable approximate their fair value because of the short-term nature of these instruments. There were no transfers between fair value measurement levels during the three months ended March 31, 2023 or 2022. The following table presents information about the Company's financial assets and liabilities measured at fair value on a recurring basis as of: March 31, 2023 Balance Sheet Classification Level 1 Level 2 Level 3 Total (in thousands) Asset: Money market $ 1,550 $ — $ — $ 1,550 Cash equivalents Liability: Interest rate swaps $ — $ 7,137 $ — $ 7,137 Other non-current liabilities December 31, 2022 Balance Sheet Classification Level 1 Level 2 Level 3 Total (in thousands) Asset: Money market $ 6,568 $ — $ — $ 6,568 Cash equivalents Liability: Interest rate swap $ — $ 2,893 $ — $ 2,893 Other non-current liabilities

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesOur provision for income taxes in interim periods is based on our estimated annual effective tax rate. We record cumulative adjustments in the quarter in which a change in the estimated annual effective rate is determined. The income tax benefit (expense) was ($0.3 million) and $5.7 million for the three months ended March 31, 2023 and 2022, respectively. Our effective income tax rate was (1.5%) and 30.1% for the three months ended March 31, 2023 and 2022, respectively. The difference in the effective income tax rate for the three months ended March 31, 2023 as compared to the corresponding period in 2022 was primarily driven by discrete items, including a California law change and an intercompany intellectual property sale, in the three months ended March 31, 2022.

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company has non-cancelable contractual purchase obligations incurred in the normal course of business to help deliver our services and products and provide support to our customers. These contracts with vendors primarily relate to software service, targeted mail costs, third party fulfillment costs and software hosting. Unrecognized future minimum payments due under these agreements are as follows (in thousands): Year ended December 31, 2023 (remainder of year) $ 9,515 2024 12,800 2025 10,279 2026 2,125 2027 2,625 Thereafter 688 Total future minimum payments due $ 38,032 From time to time, the Company may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have, individually or in the aggregate, a material adverse effect on our business, financial condition or operating results. The Company assesses the applicability of nexus in jurisdictions in which the Company sells products and services. As of March 31, 2023 and December 31, 2022, the Company recorded a liability in the amount of $11.1 million and $11.2 million, respectively, within current liabilities and other long-term liabilities as a provision for sales and use, gross receipts and goods and services tax. In connection with the Company's accounting for acquisitions, the Company has recorded liabilities and corresponding provisional escrow or indemnity receivables within the purchase price allocations for instances in which the Company is indemnified for tax matters.

Geographic Areas

Geographic Areas	3 Months Ended
	Mar. 31, 2023
Geographic Areas, Long-Lived Assets [Abstract]
Geographic Areas	Geographic Areas The following table sets forth long-lived assets by geographic area as of: March 31, December 31, 2023 2022 (in thousands) United States $ 37,767 $ 36,226 International $ 8,450 $ 8,258

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events[OPEN]

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2022 and the related notes (“Annual Report on Form 10-K”). The December 31, 2022 condensed consolidated balance sheet was derived from our audited consolidated financial statements as of that date. Our unaudited interim condensed consolidated financial statements include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the unaudited condensed consolidated financial statements. All intercompany accounts and transactions have been eliminated in consolidation. There have been no significant changes in accounting policies during the three months ended March 31, 2023 from those disclosed in the annual consolidated financial statements for the year ended December 31, 2022 and the related notes.
Use of Estimates	Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain amounts reported in the unaudited condensed consolidated financial statements, including the accompanying notes. The Company bases its estimates on historical factors, current circumstances, and the experience and judgment of management. The Company evaluates its estimates and assumptions on an ongoing basis. Actual results could differ from those estimates. Significant estimates reflected in the consolidated financial statements include revenue recognition, allowance for doubtful accounts, valuation allowances with respect to deferred tax assets, assumptions underlying the fair value used in the calculation of stock-based compensation, valuation of intangible assets and goodwill and useful lives of tangible and intangible assets, among others.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Accounting pronouncements issued and adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326); Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost, which includes the Company’s accounts receivable and contract assets. This updated standard is effective for annual reporting periods beginning after December 15, 2022. The Company adopted this ASU for the year ending December 31, 2023 and it did not have a material impact on the financial statements. In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which amends the guidance in ASC 805 to require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. FASB’s objective in issuing the ASU is to improve the accounting for acquired revenue contracts with customers in a business combination by addressing diversity and inconsistency related to both the recognition of an acquired contract liability and payment terms’ effects on subsequent revenue recognized by the acquirer. This updated standard is effective for annual reporting periods beginning after December 15, 2022. The Company adopted this ASU for the year ending December 31, 2023 and it had no impact on the financial statements, but will have an impact on any future acquisitions.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present a disaggregation of our revenue from contracts with customers by revenue recognition pattern and geographical market: Three months ended 2023 2022 (in thousands) By pattern of recognition (timing of transfer of services): Point in time $ 14,738 $ 12,106 Over time 146,398 131,470 Total $ 161,136 $ 143,576 By geographical market: United States $ 148,965 $ 130,286 International 12,171 13,290 Total $ 161,136 $ 143,576
Supplemental Balance Sheet Information	Supplemental balance sheet information related to contracts from customers as of: March 31, December 31, 2023 2022 (in thousands) Accounts receivable, net $ 48,038 $ 48,032 Contract assets $ 14,748 $ 12,971 Deferred revenue $ 24,205 $ 22,885 Customer deposits $ 10,435 $ 11,360 Long-term deferred revenue $ 2,394 $ 2,496

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill activity consisted of the following for the three months ended March 31, 2023 (in thousands): Balance at December 31, 2022 $ 914,082 Effect of foreign currency exchange rate changes (308) Balance at March 31, 2023 $ 913,774

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible assets consisted of the following as of: March 31, 2023 Useful Gross Carrying Accumulated Net Book (in thousands) Customer relationships 3-20 years $ 605,984 $ 283,122 $ 322,862 Developed technology 2-12 years 105,812 63,377 42,435 Trade name 3-10 years 38,141 20,914 17,227 Non-compete agreements 2-5 years 2,402 2,147 255 Total $ 752,339 $ 369,560 $ 382,779 December 31, 2022 Useful Gross Carrying Accumulated Net Book (in thousands) Customer relationships 3-20 years $ 605,753 $ 265,342 $ 340,411 Developed technology 2-12 years 105,766 59,208 46,558 Trade name 3-10 years 38,131 19,725 18,406 Non-compete agreements 2-5 years 2,402 2,057 345 Total $ 752,052 $ 346,332 $ 405,720

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following as of: March 31, December 31, 2023 2022 (in thousands) Computer equipment and software $ 9,625 $ 9,327 Furniture and fixtures 3,720 3,570 Leasehold improvements 11,977 11,941 Total property and equipment 25,322 24,838 Less accumulated depreciation (13,931) (12,908) Property and equipment, net $ 11,391 $ 11,930

Capitalized Software (Tables)

Capitalized Software (Tables)	3 Months Ended
	Mar. 31, 2023
Research and Development [Abstract]
Schedule of Capitalized Software	Capitalized software consisted of the following as of: March 31, December 31, 2023 2022 (in thousands) Capitalized software $ 49,958 $ 45,872 Less: accumulated amortization (15,132) (13,318) Capitalized software, net $ 34,826 $ 32,554

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Lease Cost and Supplemental Cash Flow, Balance Sheet Information	The components of lease expense are as follows: Three months ended 2023 2022 (in thousands) Operating lease cost $ 1,624 $ 2,117 Variable lease cost 495 374 Short-term lease cost 55 89 Total lease cost $ 2,174 $ 2,580 Supplemental cash flow information related to leases is as follows: Three months ended 2023 2022 (in thousands) Cash paid for amounts included in measurement of lease liabilities: Operating cash outflows - payments on operating leases $ 1,842 $ 1,771 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ — $ 540 Supplemental balance sheet information, included in other non-current assets accrued expenses and other other non-current liabilities March 31, December 31, 2023 2022 (in thousands) Operating lease right-of-use assets $ 19,762 $ 21,756 Current operating lease liabilities 4,789 5,239 Long-term operating lease liabilities 21,702 22,500 Total operating lease liabilities $ 26,491 $ 27,739
Schedule of Future Undiscounted Cash Flows	Future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities recognized on the balance sheet as of March 31, 2023 is as follows (in thousands): Year ended December 31, 2023 (remainder of year) $ 4,767 2024 4,952 2025 4,563 2026 4,414 2027 3,990 Thereafter 8,590 Total lease payments 31,276 Less: imputed interest 4,785 Total present value of lease liabilities $ 26,491

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following as of: March 31, December 31, 2023 2022 (in thousands) Term notes with interest payable monthly, interest rate at Adjusted LIBOR or Alternative Base Rate, plus an applicable mar gin of 3.25% (7.88% at March 31, 2023) quarterly principal payments of 0.25% of original principal balance with balloon payment due July 2028 $ 541,750 $ 543,125 Revolver with interest payable monthly, interest rate at Adjusted LIBOR or Alternative Base Rate, plus an applicable margin of 3.25% ( 8.09% at March 31, 2023), and outstanding balance due July 2026 — — Principal debt 541,750 543,125 Deferred financing costs on long-term debt (4,669) (4,900) Discount on long-term debt (1,695) (1,779) Total debt 535,386 536,446 Less current maturities 5,500 5,500 Long-term portion $ 529,886 $ 530,946
Schedule of Maturities of Long-term Debt	Aggregate maturities of the Company’s debt for the years ending December 31 are as follows as of March 31, 2023 (in thousands): Years ending December 31: 2023 (remainder of year) $ 4,125 2024 5,500 2025 5,500 2026 5,500 2027 5,500 Thereafter 515,625 Total aggregate maturities of the Company’s debt $ 541,750

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Stock Unit and Stock Option Activity	The following table summarizes our restricted stock unit (“RSU”) and stock option activity for the three months ended March 31, 2023: RSUs Options (in thousands) Outstanding as of January 1, 2023 2,022 16,937 Granted 2,839 — Vested or exercised (347) (103) Cancelled or forfeited (24) (78) Outstanding as of March 31, 2023 4,490 16,756
Schedule of Stock-based Compensation Expense	Stock-based compensation expense was classified in the unaudited condensed consolidated statements of operations and comprehensive loss as follows: Three months ended 2023 2022 (in thousands) Cost of revenues $ 108 $ 82 Sales and marketing 402 328 Product development 562 392 General and administrative 6,442 5,333 Total stock-based compensation expense $ 7,514 $ 6,135

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share, Basic and Diluted	The following table presents the calculation of basic and diluted net loss per share for the Company’s common stock as of: Three months ended 2023 2022 (in thousands except share and per share amounts) Numerator for basic and diluted EPS – net loss attributable to common stockholders $ (20,775) $ (13,309) Denominator: Denominator for basic and diluted EPS – weighted-average shares of common stock outstanding used in computing net loss per share 190,042,673 195,432,404 Basic and diluted net loss per share attributable to common stockholders $ (0.11) $ (0.07)
Schedule of Antidilutive Outstanding Common Stock Excluded from Computation of Diluted Net Loss Per Share	The following outstanding potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented due to their anti-dilutive effect as of: March 31, 2023 2022 Outstanding options to purchase common stock and unvested RSUs 21,245,514 19,690,100 Total anti-dilutive outstanding potential common stock 21,245,514 19,690,100

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities at Fair Value on a Recurring Basis	The following table presents information about the Company's financial assets and liabilities measured at fair value on a recurring basis as of: March 31, 2023 Balance Sheet Classification Level 1 Level 2 Level 3 Total (in thousands) Asset: Money market $ 1,550 $ — $ — $ 1,550 Cash equivalents Liability: Interest rate swaps $ — $ 7,137 $ — $ 7,137 Other non-current liabilities December 31, 2022 Balance Sheet Classification Level 1 Level 2 Level 3 Total (in thousands) Asset: Money market $ 6,568 $ — $ — $ 6,568 Cash equivalents Liability: Interest rate swap $ — $ 2,893 $ — $ 2,893 Other non-current liabilities

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments	Unrecognized future minimum payments due under these agreements are as follows (in thousands): Year ended December 31, 2023 (remainder of year) $ 9,515 2024 12,800 2025 10,279 2026 2,125 2027 2,625 Thereafter 688 Total future minimum payments due $ 38,032

Geographic Areas (Tables)

Geographic Areas (Tables)	3 Months Ended
	Mar. 31, 2023
Geographic Areas, Long-Lived Assets [Abstract]
Schedule of Long-Lived Assets by Geographic Areas	The following table sets forth long-lived assets by geographic area as of: March 31, December 31, 2023 2022 (in thousands) United States $ 37,767 $ 36,226 International $ 8,450 $ 8,258

Nature of the Business (Details

Nature of the Business (Details) customer in Thousands	Mar. 31, 2023 core_vertical customer
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of customers | customer	685
Number of core verticals | core_vertical	3

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 161,136	$ 143,576
United States
Disaggregation of Revenue [Line Items]
Total revenues	148,965	130,286
International
Disaggregation of Revenue [Line Items]
Total revenues	12,171	13,290
Point in time
Disaggregation of Revenue [Line Items]
Total revenues	14,738	12,106
Over time
Disaggregation of Revenue [Line Items]
Total revenues	$ 146,398	$ 131,470

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 48,038	$ 48,032
Contract assets	14,748	12,971
Deferred revenue	24,205	22,885
Customer deposits	10,435	11,360
Long-term deferred revenue	$ 2,394	$ 2,496

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Capitalized Contract Cost [Line Items]
Revenue recognized	$ 16
Cost to obtain contracts amortization period	5 years
Short-term assets	$ 7.1		$ 6.6
Long-term assets	15.8		$ 15.1
Sales and marketing expense
Capitalized Contract Cost [Line Items]
Amortization expense	1.3	$ 0.9
Cost of revenues
Capitalized Contract Cost [Line Items]
Amortization expense	$ 0.5	$ 0.4

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	Mar. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 20.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	60%
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	28%
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	9%
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction	2 years

Goodwill (Details)

Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 914,082
Effect of foreign currency exchange rate changes	(308)
Ending balance	$ 913,774

Intangible Assets - Summary (De

Intangible Assets - Summary (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 752,339	$ 752,052
Accumulated Amortization	369,560	346,332
Net Book Value	382,779	405,720
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	605,984	605,753
Accumulated Amortization	283,122	265,342
Net Book Value	$ 322,862	$ 340,411
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	3 years	3 years
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	20 years	20 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 105,812	$ 105,766
Accumulated Amortization	63,377	59,208
Net Book Value	$ 42,435	$ 46,558
Developed technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	2 years	2 years
Developed technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	12 years	12 years
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 38,141	$ 38,131
Accumulated Amortization	20,914	19,725
Net Book Value	$ 17,227	$ 18,406
Trade name | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	3 years	3 years
Trade name | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	10 years	10 years
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 2,402	$ 2,402
Accumulated Amortization	2,147	2,057
Net Book Value	$ 255	$ 345
Non-compete agreements | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life	2 years	2 years
Non-compete agreements | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life	5 years	5 years

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 23.2	$ 25.2

Property and Equipment - Summar

Property and Equipment - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 25,322	$ 24,838
Less accumulated depreciation	(13,931)	(12,908)
Property and equipment, net	11,391	11,930
Computer equipment and software
Property, Plant and Equipment [Line Items]
Total property and equipment	9,625	9,327
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	3,720	3,570
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 11,977	$ 11,941

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 1	$ 1

Capitalized Software - Summary

Capitalized Software - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Research and Development [Abstract]
Capitalized software	$ 49,958	$ 45,872
Less: accumulated amortization	(15,132)	(13,318)
Capitalized software, net	$ 34,826	$ 32,554

Capitalized Software - Narrativ

Capitalized Software - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Research and Development [Abstract]
Amortization	$ 1.8	$ 1.2
Capitalized software abandonment	$ 0.3

Leases - Narrative (Details)

Leases - Narrative (Details)	Mar. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Extended lease term (in years)	5 years
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities
Weighted average remaining lease term for operating leases (in years)	6 years 2 months 8 days	6 years 4 months 2 days
Operating lease, weighted average discount rate	4.80%	4.80%
Minimum
Lessee, Lease, Description [Line Items]
Operating lease initial terms (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease initial terms (in years)	11 years

Leases - Lease Information (Det

Leases - Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 1,624	$ 2,117
Variable lease cost	495	374
Short-term lease cost	55	89
Total lease cost	2,174	2,580
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases	1,842	1,771
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	0	$ 540
Operating lease right-of-use assets	19,762		$ 21,756
Current operating lease liabilities	4,789		5,239
Long-term operating lease liabilities	21,702		22,500
Total operating lease liabilities	$ 26,491		$ 27,739

Leases - Future Undiscounted Ca

Leases - Future Undiscounted Cash Flows and Reconciliation to the Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, to be Paid [Abstract]
2023 (remainder of year)	$ 4,767
2024	4,952
2025	4,563
2026	4,414
2027	3,990
Thereafter	8,590
Total lease payments	31,276
Less: imputed interest	4,785
Total present value of lease liabilities	$ 26,491	$ 27,739

Long-Term Debt - Summary of Deb

Long-Term Debt - Summary of Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal debt	$ 541,750	$ 543,125
Deferred financing costs on long-term debt	(4,669)	(4,900)
Discount on long-term debt	(1,695)	(1,779)
Total debt	535,386	536,446
Less current maturities	5,500	5,500
Long-term portion	529,886	530,946
New Term Loan | Term loan
Debt Instrument [Line Items]
Principal debt	$ 541,750	543,125
Effective interest rate	7.88%
Principal payment as a percentage of original principal balance	0.25%
New Term Loan | Base Rate Or London Interbank Offered Rate (LIBOR) | Term loan
Debt Instrument [Line Items]
Basis spread	3.25%
New Revolver | Revolving loans
Debt Instrument [Line Items]
Principal debt	$ 0	$ 0
Effective interest rate	8.09%
New Revolver | Base Rate Or London Interbank Offered Rate (LIBOR) | Revolving loans
Debt Instrument [Line Items]
Basis spread	3.25%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)		3 Months Ended
	Oct. 31, 2022 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) loan
Interest rate swaps
Debt Instrument [Line Items]
Notional amount	$ 200,000,000	$ 100,000,000
Agreement term	5 years	4 years 6 months
Fixed interest rate	4.2295%	3.969%
Fair value of liability		$ 7,100,000
Level 2 | Fair Value
Debt Instrument [Line Items]
Fair value		$ 535,000,000	$ 531,600,000
New Term Loan | Term loan
Debt Instrument [Line Items]
Number of term loans | loan				2
Maximum borrowing capacity				$ 550,000,000
New Revolver | Revolving loans
Debt Instrument [Line Items]
Maximum borrowing capacity				190,000,000
New Revolver | Letter of credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 20,000,000

Long-Term Debt - Maturities (De

Long-Term Debt - Maturities (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2023 (remainder of year)	$ 4,125
2024	5,500
2025	5,500
2026	5,500
2027	5,500
Thereafter	515,625
Total aggregate maturities of the Company’s debt	$ 541,750

Equity (Details)

Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Nov. 07, 2022	Jun. 14, 2022	Jul. 06, 2021
Class of Stock [Line Items]
Shares authorized (in shares)					2,050,000,000
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001			$ 0.00001
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001			$ 0.00001
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000			2,000,000,000
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000			50,000,000
Stock repurchase program with authorization			$ 100,000
Repurchase and retirement of common shares (in shares)	3,100,000
Repurchase and retirement of common stock	$ 29,643
Stock repurchase program, remaining authorized repurchase amount	$ 27,600
Maximum
Class of Stock [Line Items]
Stock repurchase program with authorization				$ 50,000
Repurchase program, additional authorized amount			$ 50,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	Jan. 01, 2023	Jul. 06, 2021	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, RSUs			$ 40.9
Unrecognized compensation expense, stock options			$ 18.1
2021 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance (in shares)		22,000,000
Percentage of stock outstanding		3%
Additional shares reserved for issuance (in shares)	5,700,000

Stock-Based Compensation - RSU

Stock-Based Compensation - RSU and Stock Option Activity (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2023 shares
Options
Beginning balance (in shares)	16,937
Granted (in shares)	0
Vested or exercised (in shares)	(103)
Cancelled or forfeited (in shares)	(78)
Ending balance (in shares)	16,756
RSUs
RSUs
Beginning balance (in shares)	2,022
Granted (in shares)	2,839
Vested or exercised (in shares)	(347)
Cancelled or forfeited (in shares)	(24)
Ending balance (in shares)	4,490

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 7,514	$ 6,135
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	108	82
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	402	328
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	562	392
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 6,442	$ 5,333

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Schedule of Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Numerator for basic EPS - net loss attributable to common stockholders	$ (20,775)	$ (13,309)
Numerator for diluted EPS - net loss attributable to common stockholders	$ (20,775)	$ (13,309)
Denominator:
Denominator for basic EPS - weighted-average shares of common stock outstanding used in computing net loss per share (in shares)	190,042,673	195,432,404
Denominator for diluted EPS - weighted-average shares of common stock outstanding used in computing net loss per share (in shares)	190,042,673	195,432,404
Basic net loss per share attributable to common stockholders (in dollars per share)	$ (0.11)	$ (0.07)
Diluted net loss per share attributable to common stockholders (in dollars per share)	$ (0.11)	$ (0.07)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Antidilutive Common Stock Excluded from Computation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive outstanding potential common stock	21,245,514	19,690,100
Outstanding options to purchase common stock and unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive outstanding potential common stock	21,245,514	19,690,100

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Financial Assets and Liabilities at Fair Value On a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Interest rate swaps
Liability:
Interest rate swap	$ 7,100
Fair Value, Recurring | Interest rate swaps
Liability:
Interest rate swap	7,137	$ 2,893
Fair Value, Recurring | Interest rate swaps | Level 1
Liability:
Interest rate swap	0	0
Fair Value, Recurring | Interest rate swaps | Level 2
Liability:
Interest rate swap	7,137	2,893
Fair Value, Recurring | Interest rate swaps | Level 3
Liability:
Interest rate swap	0	0
Fair Value, Recurring | Money market
Asset:
Money market	1,550	6,568
Fair Value, Recurring | Money market | Level 1
Asset:
Money market	1,550	6,568
Fair Value, Recurring | Money market | Level 2
Asset:
Money market	0	0
Fair Value, Recurring | Money market | Level 3
Asset:
Money market	$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ (299)	$ 5,737
Effective income tax rate	(1.50%)	30.10%

Commitments and Contingencies -

Commitments and Contingencies - Future Minimum Payments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Contractual Obligation, Fiscal Year Maturity [Abstract]
2023 (remainder of year)	$ 9,515
2024	12,800
2025	10,279
2026	2,125
2027	2,625
Thereafter	688
Total future minimum payments due	$ 38,032

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Sales and use tax liability	$ 11.1	$ 11.2

Geographic Areas (Details)

Geographic Areas (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
United States
Finite-Lived Intangible Assets [Line Items]
Long-lived assets	$ 37,767	$ 36,226
International
Finite-Lived Intangible Assets [Line Items]
Long-lived assets	$ 8,450	$ 8,258