Avid Technology (AVID) 10-Q 3 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2021shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	1-36254
Entity Registrant Name	Avid Technology, Inc.
State of Incorporation	DE
Entity Tax Identification Number	04-2977748
Entity Address, Address Line One	75 Network Drive
Entity Address, City or Town	Burlington
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01803
City Area Code	978
Local Phone Number	640-6789
Title of Security	Common Stock, $0.01 par value
Trading Symbol	AVID
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	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	45,604,272
Entity Central Index Key	0000896841
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net revenues:
Revenues	$ 94,876	$ 79,281	$ 189,240	$ 165,734
Cost of revenues:
Total cost of revenues	34,738	27,719	67,686	61,021
Gross profit	60,138	51,562	121,554	104,713
Operating expenses:
Research and development	16,093	13,068	31,510	28,493
Marketing and selling	21,354	19,690	42,098	44,979
General and administrative	13,678	10,604	27,313	23,348
Restructuring costs, net	15	140	1,089	285
Total operating expenses	51,140	43,502	102,010	97,105
Operating income	8,998	8,060	19,544	7,608
Interest and other expense, net	(1,633)	(5,498)	(7,306)	(10,781)
Income (loss) before income taxes	7,365	2,562	12,238	(3,173)
Provision for income taxes	359	717	841	839
Net income (loss)	$ 7,006	$ 1,845	$ 11,397	$ (4,012)
Net income (loss) per common share – basic	$ 0.15	$ 0.04	$ 0.25	$ (0.09)
Net income (loss) per common share – diluted	$ 0.15	$ 0.04	$ 0.25	$ (0.09)
Weighted-average common shares outstanding – basic	45,211	43,719	44,887	43,486
Weighted-average common shares outstanding – diluted	46,550	44,180	46,420	43,486
Products
Net revenues:
Revenues	$ 37,178	$ 27,635	$ 70,445	$ 62,346
Cost of revenues:
Total cost of revenues	20,083	16,954	39,576	37,916
Services
Net revenues:
Revenues	57,698	51,646	118,795	103,388
Cost of revenues:
Total cost of revenues	$ 14,655	$ 10,765	$ 28,110	$ 23,105

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net income (loss)	$ 7,006	$ 1,845	$ 11,397	$ (4,012)
Other comprehensive income (loss):
Foreign currency translation adjustments	215	119	(1,242)	(696)
Comprehensive income (loss)	$ 7,221	$ 1,964	$ 10,155	$ (4,708)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 53,337	$ 79,899
Restricted cash	1,422	1,422
Accounts receivable, net of allowances	58,746	78,614
Inventories	24,242	26,568
Prepaid expenses	8,774	6,044
Contract assets	21,828	18,579
Other current assets	2,265	2,366
Total current assets	170,614	213,492
Property and equipment, net	14,762	16,814
Goodwill	32,643	32,643
Right of use assets	26,561	29,430
Deferred tax assets, net	6,254	6,801
Other long-term assets	5,871	5,958
Total assets	256,705	305,138
Current liabilities:
Accounts payable	21,775	21,823
Accrued compensation and benefits	23,103	29,105
Accrued expenses and other current liabilities	32,904	42,264
Income taxes payable	1,648	1,664
Less: current portion	16,961	4,941
Deferred revenues	80,745	87,974
Total current liabilities	177,136	187,771
Long-term debt	165,178	202,759
Long-term deferred revenues	10,838	11,284
Long-term lease liabilities	25,819	28,462
Other long-term liabilities	7,476	7,786
Total liabilities	386,447	438,062
Commitments and Contingencies (Note 8)
Stockholders' deficit:
Common stock	452	442
Additional paid-in capital	1,029,675	1,036,658
Accumulated deficit	(1,156,950)	(1,168,347)
Accumulated other comprehensive loss	(2,919)	(1,677)
Total stockholders' deficit	(129,742)	(132,924)
Total liabilities and stockholders' deficit	$ 256,705	$ 305,138

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Consolidated Balance Sheets Parenthetical [Abstract]
Allowance for doubtful accounts	$ 1,369	$ 1,478

CONSOLDATED STATEMENTS OF STOCK

CONSOLDATED STATEMENTS OF STOCKHOLDERS' DEFICIT Statement - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]
Balances at beginning of period (in shares) at Dec. 31, 2019		43,150
Balances at beginning of period at Dec. 31, 2019	$ (155,085)	$ 430	$ 1,027,824	$ (1,179,409)	$ (3,930)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		398
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	(1,814)	$ 4	(1,818)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,109		2,109
Net Income (Loss) Attributable to Parent	(5,857)			(5,857)
Other Comprehensive Income (Loss), Net of Tax	(815)				(815)
Balances at end of period (in shares) at Mar. 31, 2020		43,548
Balances at end of period at Mar. 31, 2020	(161,462)	$ 434	1,028,115	(1,185,266)	(4,745)
Balances at beginning of period (in shares) at Dec. 31, 2019		43,150
Balances at beginning of period at Dec. 31, 2019	(155,085)	$ 430	1,027,824	(1,179,409)	(3,930)
Net Income (Loss) Attributable to Parent	(4,012)
Balances at end of period (in shares) at Jun. 30, 2020		43,916
Balances at end of period at Jun. 30, 2020	(156,492)	$ 437	1,030,303	(1,183,421)	(3,811)
Balances at beginning of period (in shares) at Mar. 31, 2020		43,548
Balances at beginning of period at Mar. 31, 2020	(161,462)	$ 434	1,028,115	(1,185,266)	(4,745)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		368
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	(535)	$ 3	(538)	0	0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2,726		2,726
Net Income (Loss) Attributable to Parent	1,845			1,845
Other Comprehensive Income (Loss), Net of Tax	934				934
Balances at end of period (in shares) at Jun. 30, 2020		43,916
Balances at end of period at Jun. 30, 2020	(156,492)	$ 437	1,030,303	(1,183,421)	(3,811)
Balances at beginning of period (in shares) at Dec. 31, 2020		44,420
Balances at beginning of period at Dec. 31, 2020	(132,924)	$ 442	1,036,658	(1,168,347)	(1,677)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		592
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	(7,706)	$ 6	(7,712)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,122		3,122
Net Income (Loss) Attributable to Parent	4,391			4,391
Other Comprehensive Income (Loss), Net of Tax	(1,457)				(1,457)
Balances at end of period (in shares) at Mar. 31, 2021		45,012
Balances at end of period at Mar. 31, 2021	(134,574)	$ 448	1,032,068	(1,163,956)	(3,134)
Balances at beginning of period (in shares) at Dec. 31, 2020		44,420
Balances at beginning of period at Dec. 31, 2020	(132,924)	$ 442	1,036,658	(1,168,347)	(1,677)
Net Income (Loss) Attributable to Parent	11,397
Balances at end of period (in shares) at Jun. 30, 2021		45,525
Balances at end of period at Jun. 30, 2021	(129,742)	$ 452	1,029,675	(1,156,950)	(2,919)
Balances at beginning of period (in shares) at Mar. 31, 2021		45,012
Balances at beginning of period at Mar. 31, 2021	(134,574)	$ 448	1,032,068	(1,163,956)	(3,134)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		513
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	(5,969)	$ 4	(5,973)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	3,580		3,580
Net Income (Loss) Attributable to Parent	7,006			7,006
Other Comprehensive Income (Loss), Net of Tax	215				215
Balances at end of period (in shares) at Jun. 30, 2021		45,525
Balances at end of period at Jun. 30, 2021	$ (129,742)	$ 452	$ 1,029,675	$ (1,156,950)	$ (2,919)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 11,397	$ (4,012)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	4,321	4,330
Recovery from doubtful accounts	270	1,205
Stock-based compensation expense	6,702	4,835
Non-cash provision for restructuring	927	0
Non-cash interest expense	257	3,433
Loss (gain) on extinguishment of debt	2,579	0
Unrealized foreign currency transaction losses (gains)	(1,468)	(112)
Provision for (benefit from) deferred taxes	547	383
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable	19,599	18,783
Inventories	2,326	(484)
Prepaid expenses and other assets	(2,629)	(547)
Accounts payable	(48)	(22,003)
Accrued expenses, compensation and benefits and other liabilities	(14,942)	(4,057)
Income taxes payable	(16)	66
Deferred revenue and contract assets	(10,924)	(10,932)
Net cash provided by (used in) operating activities	18,898	(9,112)
Cash flows from investing activities:
Purchases of property and equipment	(2,275)	(3,212)
Net cash used in investing activities	(2,275)	(3,212)
Cash flows from financing activities:
Proceeds from revolving line of credit	0	22,000
Proceeds from long-term debt	180,000	7,800
Repayment of debt	(205,824)	(695)
Payments for repurchase of outstanding notes	0	(28,867)
Proceeds from the issuance of common stock under employee stock plans	363	0
Common stock repurchases for tax withholdings for net settlement of equity awards	(14,038)	(2,357)
Prepayment penalty on extinguishment of debt	(1,169)	0
Partial unwind capped call cash receipt	0	875
Payments for credit facility issuance costs	(2,574)	(289)
Net cash (used in) provided by financing activities	(43,242)	(1,533)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	56	682
Net increase (decrease) in cash, cash equivalents and restricted cash	(26,563)	(13,175)
Cash, cash equivalents and restricted cash at beginning of period	83,638	72,575
Cash, cash equivalents and restricted cash at end of period	57,075	59,400
Supplemental Cash Flow Information [Abstract]
Cash and cash equivalents at end of period	53,337	55,662
Restricted cash	1,422	1,663
Restricted cash included in other long-term assets	2,316	2,075
Cash paid for income taxes	336	144
Cash paid for interest	$ 1,308	$ 8,976

FINANCIAL INFORMATION (Notes)

FINANCIAL INFORMATION (Notes)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
FINANCIAL INFORMATION	FINANCIAL INFORMATION The accompanying condensed consolidated financial statements include the accounts of Avid Technology, Inc. and its wholly owned subsidiaries (collectively, “we” or “our”). These financial statements are unaudited. However, in the opinion of management, the condensed consolidated financial statements reflect all normal and recurring adjustments necessary for their fair statement. Interim results are not necessarily indicative of results expected for any other interim period or a full year. We prepared the accompanying unaudited condensed consolidated financial statements in accordance with the instructions for Form 10-Q and, therefore, include all information and footnotes necessary for a complete presentation of operations, comprehensive income (loss), financial position, changes in stockholders’ deficit, and cash flows in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying condensed consolidated balance sheet as of December 31, 2020 was derived from our audited consolidated financial statements and does not include all disclosures required by U.S. GAAP for annual financial statements. We filed audited consolidated financial statements as of and for the year ended December 31, 2020 in our Annual Report on Form 10-K for the year ended December 31, 2020, which included information and footnotes necessary for such presentation. The financial statements contained in this Form 10-Q should be read in conjunction with the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2020. The consolidated results of operations for the three months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2021. The Company’s results of operations are affected by economic conditions, including macroeconomic conditions and levels of business and consumer confidence. The novel coronavirus (COVID-19) pandemic, together with the measures implemented or recommended by governmental authorities and private organizations in response to the pandemic, has had a material adverse impact to the Company's business, operating results and financial condition primarily due to reduced demand for our products and services which has led to lower net revenues. The Company began experiencing a significant decline in international and domestic demand due to COVID-19 by the end of the first quarter of 2020, and this reduction in demand continued through the balance of 2020. These economic impacts were the result of, but not limited to: • the postponement or cancellation of film and television productions, major sporting events, and live music events; • delays in purchasing and projects by our enterprise customers and channel partners; • disruption to the supply chain caused by distribution and other logistical issues, including disruptions arising from government restrictions; and • decreased productivity due to travel restrictions, work-from-home policies or shelter-in-place orders. Our results for the second quarter showed a gradual recovery towards pre-pandemic spending levels with the continuing positive signs of recovery from the impacts of the COVID-19 pandemic driven by vaccination and government stimulus programs, particularly in the United States. At the same time, certain international countries continue to face challenges with renewed lockdowns and travel restrictions and there remains uncertainty relating to the ongoing spread and severity of the virus and its variants. While we are encouraged by the trends we saw in the first half of the year, to the extent that the pandemic continues to have negative impacts on economies, our results could be affected and uneven. Consequently, we will continue to evaluate our financial position in light of future developments, particularly those relating to COVID-19. Our preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from our estimates. Significant Accounting Policies - Revenue Recognition We enter into contracts with customers that include various combinations of products and services, which are typically capable of being distinct and are accounted for as separate performance obligations. We account for a contract when (i) it has approval and commitment from both parties, (ii) the rights of the parties have been identified, (iii) payment terms have been identified, (iv) the contract has commercial substance, and (v) collectability is probable. We recognize revenue upon transfer of control of promised products or services to customers, which typically occurs upon shipment or delivery depending on the terms of the underlying contracts, in an amount that reflects the consideration we expect to receive in exchange for those products or services. We often enter into contractual arrangements that have multiple performance obligations, one or more of which may be delivered subsequent to the delivery of other performance obligations. These arrangements may include a combination of products, maintenance, training, and professional services. We allocate the transaction price of the arrangement based on the relative estimated standalone selling price of each distinct performance obligation. See Note 9 for disaggregated revenue schedules and further discussion on revenue and deferred revenue performance obligations and the timing of revenue recognition. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements On January 1, 2021, we adopted ASU 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 is intended to enhance and simplify aspects of the income tax accounting guidance in ASC 740 as part of the FASB's simplification initiative. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2020 with early adoption permitted. Our adoption of ASU 2019-12 did not have a material impact on our consolidated financial statements. Recent Accounting Pronouncements To Be Adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance is effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements and related disclosures.

NET INCOME PER SHARE Earnings P

NET INCOME PER SHARE Earnings Per Share (Notes)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME (LOSS) PER SHARE Net income (loss) per common share is presented for both basic income (loss) per share (“Basic EPS”) and diluted income (loss) per share (“Diluted EPS”). Basic EPS is based on the weighted-average number of common shares outstanding during the period. Diluted EPS is based on the weighted-average number of common shares and common share equivalents outstanding during the period. The potential common shares that were considered anti-dilutive securities were excluded from the diluted earnings per share calculations for the relevant periods either because the sum of the exercise price per share and the unrecognized compensation cost per share was greater than the average market price of our common stock for the relevant periods, or because they were considered contingently issuable. The contingently issuable potential common shares result from certain stock options and restricted stock units granted to our employees that vest based on performance conditions, market conditions, or a combination of performance and market conditions. The following table sets forth (in thousands) potential common shares that were considered anti-dilutive securities at June 30, 2021 and 2020: June 30, 2021 June 30, 2020 Options — 465 Non-vested restricted stock units 910 3,177 Anti-dilutive potential common shares 910 3,642 The following table sets forth (in thousands) the basic and diluted weighted common shares outstanding for the three and six months ended June 30, 2021: Three months ended Six months ended Weighted common shares outstanding - basic 45,211 44,887 Net effect of common stock equivalents 1,339 1,533 Weighted common shares outstanding - diluted 46,550 46,420

FAIR VALUE MEASUREMENTS (Notes)

FAIR VALUE MEASUREMENTS (Notes)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Assets Measured at Fair Value on a Recurring Basis We measure deferred compensation investments on a recurring basis. As of June 30, 2021 and December 31, 2020, our deferred compensation investments were classified as either Level 1 or Level 2 in the fair value hierarchy. Assets valued using quoted market prices in active markets and classified as Level 1 are money market and mutual funds. Assets valued based on other observable inputs and classified as Level 2 are insurance contracts. The following tables summarize our deferred compensation investments measured at fair value on a recurring basis (in thousands): Fair Value Measurements at Reporting Date Using June 30, Quoted Prices in Significant Significant Financial assets: Deferred compensation assets $ 363 $ 97 $ 266 $ — Fair Value Measurements at Reporting Date Using December 31, 2020 Quoted Prices in Significant Significant Financial assets: Deferred compensation assets $ 522 $ 282 $ 240 $ — Financial Instruments Not Recorded at Fair Value The carrying amounts of our other financial assets and liabilities including cash, accounts receivable, accounts payable, and accrued liabilities approximate their respective fair values because of the relatively short period of time between their origination and their expected realization or settlement.

INVENTORIES (Notes)

INVENTORIES (Notes)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following (in thousands): June 30, 2021 December 31, 2020 Raw materials $ 7,023 $ 8,223 Work in process 320 353 Finished goods 16,899 17,992 Total $ 24,242 $ 26,568

LEASES LEASES (Notes)

LEASES LEASES (Notes)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	LEASES We have entered into a number of facility leases to support our research and development activities, sales operations, and other corporate and administrative functions in North America, Europe, and Asia, which qualify as operating leases under U.S. GAAP. We also have a limited number of equipment leases that qualify as either operating or finance leases. We determine if contracts with vendors represent a lease or have a lease component under U.S. GAAP at contract inception. Our leases have remaining terms ranging from less than one year to seven years. Some of our leases include options to extend or terminate the lease prior to the end of the agreed upon lease term. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. Operating lease right of use assets and liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the lease commencement date. As our leases generally do not provide an implicit rate, we use an estimated incremental borrowing rate in determining the present value of future payments. The incremental borrowing rate represents an estimate of the interest rate we would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease within a particular location and currency environment. As of June 30, 2021, the weighted average incremental borrowing rate was 6.0% and the weighted average remaining lease term was 6.1 years. Finance lease right of use assets and liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the lease commencement date. Each lease agreement provides an implicit discount rate used to determine the present value of future payments. As of June 30, 2021, the weighted-average discount rate was 2.3% and the weighted average remaining lease term was 2.2 years. Lease costs for minimum lease payments is recognized on a straight-line basis over the lease term. Our total operating lease costs were $1.8 million and $2.5 million for the three months ended June 30, 2021 and June 30, 2020, respectively, and $3.7 million and $5.1 million for the six months ended June 30, 2021 and June 30, 2020, respectively. Related cash payments were $1.9 million and $2.2 million for the three months ended June 30, 2021 and June 30, 2020, respectively, and were $4.0 million and $4.8 million for the six months ended June 30, 2021 and June 30, 2020, respectively. Operating lease costs are included within research and development, marketing and selling, and general and administrative lines on the condensed consolidated statements of operations, and the related cash payments are included in the operating cash flows on the condensed consolidated statements of cash flows. Finance lease costs, short-term lease costs, variable lease costs, and sublease income are not material. The table below reconciles the undiscounted future minimum lease payments for operating and finance leases under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the condensed consolidated balance sheets as of June 30, 2021 (in thousands): Year Ending December 31, Operating Leases Finance Leases 2021 (excluding six months ended June 30, 2021) $ 3,718 $ 227 2022 6,570 255 2023 5,639 230 2024 4,954 — 2025 5,056 — Thereafter 11,731 — Total future minimum lease payments $ 37,668 $ 712 Less effects of discounting (6,483) (15) Total lease liabilities $ 31,185 $ 697 Supplemental balance sheet information related to leases was as follows (in thousands): Operating Leases June 30, 2021 Right of use assets $ 26,561 Accrued expenses and other current liabilities (5,366) Long-term lease liabilities (25,819) Total lease liabilities $ (31,185) Finance Leases June 30, 2021 Other assets $ 552 Accrued expenses and other current liabilities (256) Other long-term liabilities (441) Total lease liabilities $ (697)
LEASES	LEASES We have entered into a number of facility leases to support our research and development activities, sales operations, and other corporate and administrative functions in North America, Europe, and Asia, which qualify as operating leases under U.S. GAAP. We also have a limited number of equipment leases that qualify as either operating or finance leases. We determine if contracts with vendors represent a lease or have a lease component under U.S. GAAP at contract inception. Our leases have remaining terms ranging from less than one year to seven years. Some of our leases include options to extend or terminate the lease prior to the end of the agreed upon lease term. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. Operating lease right of use assets and liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the lease commencement date. As our leases generally do not provide an implicit rate, we use an estimated incremental borrowing rate in determining the present value of future payments. The incremental borrowing rate represents an estimate of the interest rate we would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease within a particular location and currency environment. As of June 30, 2021, the weighted average incremental borrowing rate was 6.0% and the weighted average remaining lease term was 6.1 years. Finance lease right of use assets and liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the lease commencement date. Each lease agreement provides an implicit discount rate used to determine the present value of future payments. As of June 30, 2021, the weighted-average discount rate was 2.3% and the weighted average remaining lease term was 2.2 years. Lease costs for minimum lease payments is recognized on a straight-line basis over the lease term. Our total operating lease costs were $1.8 million and $2.5 million for the three months ended June 30, 2021 and June 30, 2020, respectively, and $3.7 million and $5.1 million for the six months ended June 30, 2021 and June 30, 2020, respectively. Related cash payments were $1.9 million and $2.2 million for the three months ended June 30, 2021 and June 30, 2020, respectively, and were $4.0 million and $4.8 million for the six months ended June 30, 2021 and June 30, 2020, respectively. Operating lease costs are included within research and development, marketing and selling, and general and administrative lines on the condensed consolidated statements of operations, and the related cash payments are included in the operating cash flows on the condensed consolidated statements of cash flows. Finance lease costs, short-term lease costs, variable lease costs, and sublease income are not material. The table below reconciles the undiscounted future minimum lease payments for operating and finance leases under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the condensed consolidated balance sheets as of June 30, 2021 (in thousands): Year Ending December 31, Operating Leases Finance Leases 2021 (excluding six months ended June 30, 2021) $ 3,718 $ 227 2022 6,570 255 2023 5,639 230 2024 4,954 — 2025 5,056 — Thereafter 11,731 — Total future minimum lease payments $ 37,668 $ 712 Less effects of discounting (6,483) (15) Total lease liabilities $ 31,185 $ 697 Supplemental balance sheet information related to leases was as follows (in thousands): Operating Leases June 30, 2021 Right of use assets $ 26,561 Accrued expenses and other current liabilities (5,366) Long-term lease liabilities (25,819) Total lease liabilities $ (31,185) Finance Leases June 30, 2021 Other assets $ 552 Accrued expenses and other current liabilities (256) Other long-term liabilities (441) Total lease liabilities $ (697)

OTHER LONG-TERM LIABILITIES (No

OTHER LONG-TERM LIABILITIES (Notes)	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
OTHER LONG-TERM LIABILITIES	OTHER LONG-TERM LIABILITIES Other long-term liabilities consisted of the following (in thousands): June 30, 2021 December 31, 2020 Deferred compensation $ 5,565 $ 5,818 Finance lease liabilities 441 472 Other long-term liabilities 1,470 1,496 Total $ 7,476 $ 7,786

CONTINGENCIES (Notes)

CONTINGENCIES (Notes)	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments We entered into a long-term agreement to purchase a variety of information technology solutions from a third party in the second quarter of 2020, which included an unconditional commitment to purchase a minimum of $32.2 million of products and services over the initial five years of the agreement. We have purchased $7.1 million of products and services pursuant to this agreement as of June 30, 2021. We have letters of credit that are used as security deposits in connection with our leased Burlington, Massachusetts office space. In the event of default on the underlying leases, the landlords would, at June 30, 2021, be eligible to draw against the letters of credit to a maximum of $0.7 million in the aggregate. The letters of credit are subject to aggregate reductions provided that we are not in default under the underlying leases and meet certain financial performance conditions. In no case will the letters of credit amounts for the Burlington leases be reduced to below $0.7 million in the aggregate throughout the lease periods. We also have letters of credit in connection with security deposits for other facility leases totaling $0.6 million in the aggregate, as well as letters of credit totaling $1.6 million that otherwise support our ongoing operations. These letters of credit have various terms and expire during 2021 and beyond, while some of the letters of credit may automatically renew based on the terms of the underlying agreements. Substantially all of our letters of credit are collateralized by restricted cash included in the caption “Restricted cash” and “Other long-term assets” on our condensed consolidated balance sheets as of June 30, 2021. Contingencies Our industry is characterized by the existence of a large number of patents and frequent claims and litigation regarding patent and other intellectual property rights. In addition to the legal proceedings described below, we are involved in legal proceedings from time to time arising from the normal course of business activities, including claims of alleged infringement of intellectual property rights and contractual, commercial, employee relations, product or service performance, or other matters. We do not believe these matters will have a material adverse effect on our financial position or results of operations. However, the outcome of legal proceedings and claims brought against us is subject to significant uncertainty. Therefore, our financial position or results of operations may be negatively affected by the unfavorable resolution of one or more of these proceedings for the period in which a matter is resolved. Our results could be materially adversely affected if we are accused of, or found to be, infringing third parties’ intellectual property rights. Following the termination of our former Chairman and Chief Executive Officer on February 25, 2018, we received a notice alleging that we breached the former executive’s employment agreement. On April 16, 2019 we received an additional notice again alleging we breached the former executive’s employment agreement. We have since been in communications with our former Chairman and Chief Executive Officer’s counsel. While we intend to defend any claim vigorously, when and if a claim is actually filed, we are currently unable to estimate an amount or range of any reasonably possible losses that could occur as a result of this matter. On July 14, 2020, we sent a notice to a customer demanding sums that we believe are due to Avid pursuant to a contract. On October 7, 2020, the customer sent a notice to us denying any legal liability and demanding payment for breach of contract resulting from various alleged delays by us. While we intend to defend any claim vigorously when and if a claim is actually filed, we are currently unable to estimate an amount or range of any reasonably possible losses that could occur related to this matter. We consider all claims on a quarterly basis and based on known facts assess whether potential losses are considered reasonably possible, probable, and estimable. Based upon this assessment, we then evaluate disclosure requirements and whether to accrue for such claims in our condensed consolidated financial statements. We record a provision for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. At June 30, 2021 and as of the date of filing of these condensed consolidated financial statements, we believe that, other than as set forth in this note, no provision for liability nor disclosure is required related to any claims because: (a) there is no reasonable possibility that a loss exceeding amounts already recognized (if any) may be incurred with respect to such claim, (b) a reasonably possible loss or range of loss cannot be estimated, or (c) such estimate is immaterial. Additionally, we provide indemnification to certain customers for losses incurred in connection with intellectual property infringement claims brought by third parties with respect to our products. These indemnification provisions generally offer perpetual coverage for infringement claims based upon the products covered by the agreement and the maximum potential amount of future payments we could be required to make under these indemnification provisions is theoretically unlimited. To date, we have not incurred material costs related to these indemnification provisions; accordingly, we believe the estimated fair value of these indemnification provisions is immaterial. Further, certain of our arrangements with customers include clauses whereby we may be subject to penalties for failure to meet certain performance obligations; however, we have not recorded any related material penalties to date. We provide warranties on externally sourced and internally developed hardware. For internally developed hardware, and in cases where the warranty granted to customers for externally sourced hardware is greater than that provided by the manufacturer, we record an accrual for the related liability based on historical trends and actual material and labor costs. The following table sets forth the activity in the product warranty accrual account for the six months ended June 30, 2021 and 2020 (in thousands): Six Months Ended June 30, 2021 2020 Accrual balance at beginning of period $ 1,095 $ 1,337 Accruals for product warranties 827 700 Costs of warranty claims (601) (673) Accrual balance at end of period $ 1,321 $ 1,364 The warranty accrual is included in the caption “accrued expenses and other current liabilities” in our condensed consolidated balance sheet.

RESTRUCTURING COSTS AND ACCRUAL

RESTRUCTURING COSTS AND ACCRUALS (Notes)	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING COSTS AND ACCRUALS	RESTRUCTURING COSTS AND ACCRUALS In October 2020, we committed to a restructuring plan in order to undergo a strategic reorganization of our business. The strategic reorganization involved significant changes in business operations to better support our strategy and overall performance. The restructuring plan related to our strategic reorganization is expected to be substantially completed in 2021. During the three months ended June 30, 2021, we recorded an immaterial amount of restructuring charges for employee severance cost adjustments. During the six months ended June 30, 2021, we recorded restructuring charges of $1.1 million for employee severance costs related to approximately 23 positions eliminated during the first quarter of 2021. During the three months and six months ended June 30, 2020 , we recorded restructuring charges of $0.2 million and $0.3 million, respectively, for employee severance cost adjustments. The following table sets forth the activity in the restructuring accruals for the six months ended June 30, 2021 (in thousands): Employee Accrual balance as of December 31, 2020 $ 3,687 Restructuring charges and revisions 927 Cash payments (3,308) Foreign exchange impact on ending balance (5) Accrual balance as of June 30, 2021 $ 1,301 The employee restructuring accrual at June 30, 2021 represents severance costs to former employees that will be paid out within 12 months, and is, therefore, included in the caption “accrued expenses and other current liabilities” in our condensed consolidated balance sheets as of June 30, 2021.

REVENUE (Notes)

REVENUE (Notes)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregated Revenue and Geography Information Through the evaluation of the discrete financial information that is regularly reviewed by the chief operating decision makers (our chief executive officer and chief financial officer), we have determined that we have one reportable segment. The following table is a summary of our revenues by type for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Products and solutions net revenues $ 37,178 $ 27,635 $ 70,445 $ 62,346 Subscription services 21,508 16,427 46,376 30,385 Maintenance 30,443 30,570 60,295 62,364 Professional services, training and other services 5,747 4,649 12,124 10,639 Total net revenues $ 94,876 $ 79,281 $ 189,240 $ 165,734 The following table sets forth our revenues by geographic region for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Revenues: United States $ 41,587 $ 32,886 $ 81,058 $ 68,976 Other Americas 4,629 5,886 9,809 11,336 Europe, Middle East and Africa 34,094 28,706 70,617 61,941 Asia-Pacific 14,566 11,803 27,756 23,481 Total net revenues $ 94,876 $ 79,281 $ 189,240 $ 165,734 Contract Asset Contract asset activity for the six months ended June 30, 2021 and 2020 was as follows (in thousands): June 30, 2021 June 30, 2020 Contract asset at beginning of year $ 18,579 $ 19,494 Revenue in excess of billings 27,282 13,155 Customer billings (24,033) (14,403) Contract asset at end of period $ 21,828 $ 18,246 Deferred Revenue Deferred revenue activity for the six months ended June 30, 2021 and 2020 was as follows (in thousands): June 30, 2021 June 30, 2020 Deferred revenue at beginning of period $ 99,259 $ 97,901 Billings deferred 46,686 39,334 Recognition of prior deferred revenue (54,362) (51,512) Deferred revenue at end of period $ 91,583 $ 85,723 A summary of the significant performance obligations included in deferred revenue is as follows (in thousands): June 30, 2021 Product $ 5,302 Subscription 6,467 Maintenance contracts 71,266 Implied PCS 7,031 Professional services, training and other 1,517 Deferred revenue at June 30, 2021 $ 91,583 Remaining Performance Obligations For transaction prices allocated to remaining performance obligations, we apply practical expedients and do not disclose quantitative or qualitative information for remaining performance obligations (i) that have original expected durations of one year or less and (ii) where we recognize revenue equal to what we have the right to invoice and that amount corresponds directly with the value to the customer of our performance to date. Historically, for many of our products, we had an ongoing practice of making when-and-if-available software updates available to customers free of charge for a period of time after initial sales to customers. The expectation created by this practice of providing free Software Updates represents an implied obligation of a form of post-contract customer support (“Implied PCS”) which represents a performance obligation. While we have ceased providing Implied PCS on new product offerings, we continue to provide Implied PCS for older products that were predominately sold in prior years. Revenue attributable to Implied PCS performance obligations is recognized over time on a ratable basis over the period that Implied PCS is expected to be provided, which is typically six years. We have remaining performance obligations of $7.0 million attributable to Implied PCS recorded in deferred revenue as of June 30, 2021. We expect to recognize revenue for these remaining performance obligations of $1.6 million for the remainder of 2021 and $2.2 million, $1.5 million, $1.0 million and $0.5 million for the years ending December 31, 2022, 2023, 2024, and 2025, respectively, and $0.2 million thereafter. As of June 30, 2021, we had approximately $45.1 million of transaction price allocated to remaining performance obligations for certain enterprise agreements that have not yet been fully invoiced. Approximately $38.9 million of these performance obligations were unbilled as of June 30, 2021. Remaining performance obligations represent obligations we must deliver for specific products and services in the future where there is not yet an enforceable right to invoice the customer. Our remaining performance obligations do not include contractually committed minimum purchases that are common in our strategic purchase agreements with resellers since our specific obligations to deliver products or services is not yet known, as customers may satisfy such commitments by purchasing an unknown combination of current or future product offerings. While the timing of fulfilling individual performance obligations under the contracts can vary dramatically based on customer requirements, we expect to recognize the $45.1 million in roughly equal installments through 2026. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations due to contract breach, contract amendments, and changes in the expected timing of delivery.

LONG-TERM DEBT AND CREDIT AGREE

LONG-TERM DEBT AND CREDIT AGREEMENT (Notes)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
LONG TERM DEBT AND CREDIT AGREEMENT	LONG-TERM DEBT AND CREDIT AGREEMENT Long-term debt consisted of the following (in thousands): June 30, 2021 December 31, 2020 Term Loan, net of unamortized issuance costs and debt discount of $2,317 and $2,579 at June 30, 2021 and December 31, 2020, respectively $ 173,183 $ 198,629 PPP Loan 7,800 7,800 Other long-term debt 1,156 1,271 Total debt $ 182,139 207,700 Less: current portion 16,961 4,941 Total long-term debt $ 165,178 $ 202,759 $7,800198,629 The following table summarizes the contractual maturities of our borrowing obligations as of June 30, 2021 (in thousands): Fiscal Year Credit Agreement PPP Loan Other Long-Term Debt Total 2021 $ 4,500 — 79 $ 4,579 2022 9,000 7,800 167 16,967 2023 13,500 — 179 13,679 2024 18,000 — 191 18,191 2025 18,000 — 205 18,205 Thereafter 112,500 — 335 112,835 Total before unamortized discount 175,500 7,800 1,156 184,456 Less: unamortized discount and issuance costs 2,317 — — 2,317 Less: current portion of long-term debt 9,000 7,800 161 16,961 Total long-term debt $ 164,183 $ — $ 995 $ 165,178 Credit Agreement On January 5, 2021, the Company entered into a Credit Agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A. as collateral and administrative agent, and a syndicate of banks, as lenders thereunder (the “Lenders”). Pursuant to the Credit Agreement, the Lenders agreed to provide the Company with (a) a term loan in the aggregate principal amount of $180.0 million (the “Term Loan”) and (b) a revolving credit facility (the “Credit Facility”) of up to a maximum of $70.0 million in borrowings outstanding at any time. The Credit Facility, which was undrawn at closing, can be used for working capital, other general corporate purposes and for other permitted uses. The proceeds from the Term Loan, plus available cash on hand, were used to repay outstanding borrowings of $201 million under the Company’s prior financing agreement with Cerberus Business Finance, LLC( the “Financing Agreement”), which was then terminated. As a result of this termination, the Company incurred a loss on extinguishment of debt of $3.7 million as a result of writing off $2.6 million of remaining unamortized issuance costs as well as a $1.1 million prepayment penalty. The Term Loan has an initial interest rate of LIBOR plus an applicable margin of 3.00%, with a 0.25% LIBOR floor. The applicable margin on the Term Loan and the Credit Facility ranges from 2.00% to 3.25%, depending on leverage. The effective interest rate for the three month period ending June 30, 2021 was 3.13%. The Term Loan requires quarterly principal payments which commenced in March 2021 equal to 5.0% of the original principal amount of the Term Loan in years one and two, 7.5% of the original principal amount of the Term Loan in year three, and 10% of the original principal amount of the Term Loan in years four and five, with the remaining aggregate principal amount due at maturity. The Company granted a security interest on substantially all of its assets to secure the obligations under the Credit Facility and the Term Loan. The Credit Agreement contains two financial covenants: (i) a requirement to maintain a total net leverage ratio, as defined in the Credit Agreement, of no more than 4.00 to 1.00 through June 30, 2021, with step downs thereafter, and (ii) a requirement to maintain a fixed charge covenant ratio, as defined in the Credit Agreement, of no less than 1.20 to 1.00. Both the Term Loan and the revolving Credit Facility mature on January 5, 2026. We were in compliance with the Credit Agreement covenants as of June 30, 2021. In association with the Credit Agreement, the Company incurred $2.5 million of issuance discounts and an immaterial amount of issuance costs. The Term Loan discount and issuance costs will be amortized over the five year life of the Credit Agreement. We recorded $1.4 million and $2.8 million of interest expense on the Term Loan for the three and six months ended June 30, 2021, respectively. As of June 30, 2021, there were no amounts drawn under the Credit Facility. PPP Loan On May 11, 2020, the Company received $7.8 million of proceeds in connection with its incurrence of a loan under the Paycheck Protection Program (“PPP”) which was created through the Coronavirus Aid, Relief, and Economic Act (“CARES Act”) and is administered by the U.S. Small Business Administration (“SBA”). The application for these funds requires the Company to, in good faith, certify that the economic uncertainty at the time of application made the loan request necessary to support the ongoing operations of the Company. This certification further required the Company to take into account its then-current business activity and ability to access other sources of liquidity sufficient to support ongoing operations in a manner that is not significantly detrimental to the business. The receipt of these funds, and the forgiveness of the loan attendant to these funds, is dependent on the Company having initially qualified for the loan and qualifying for the forgiveness of such loan based on its future adherence to the forgiveness criteria. The loan has a fixed interest rate of 1% and matures on May 11, 2022. Interest payments are deferred until a forgiveness decision is returned by the SBA. We recognized an immaterial amount of interest expense related to the loan during the three and six months ended June 30, 2021.

STOCKHOLDERS' EQUITY (Notes)

STOCKHOLDERS' EQUITY (Notes)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Stock-Based Compensation Information with respect to the Company’s option shares granted under all of our stock incentive plans for the six months ended June 30, 2021 was as follows: Total Number of Options Weighted- Weighted- Aggregate Options outstanding at January 1, 2021 246,000 $7.48 Granted — — Exercised (246,000) 7.48 Forfeited or canceled — — Options outstanding at June 30, 2021 — $— 0.00 $— Information with respect to the Company’s non-vested restricted stock units for the six months ended June 30, 2021 was as follows: Number of Restricted Stock Units Weighted- Weighted- Aggregate Shares Retained to Cover Statutory Minimum Withholding Taxes Non-vested at January 1, 2021 2,114,879 $7.01 — Granted 438,295 29.02 — Vested (1,003,933) 6.69 (316,222) Forfeited (33,683) 7.25 — Outstanding at June 30, 2021 1,515,558 $13.57 0.98 $59,319 Information with respect to the Company’s non-vested performance-based restricted stock units for the six months ended June 30, 2021 was as follows: Number of Performance-based Restricted Stock Units Weighted- Weighted- Aggregate Shares Retained to Cover Statutory Minimum Withholding Taxes Non-vested at January 1, 2021 653,428 $6.74 — Granted 397,048 15.07 — Vested (471,112) 5.81 (196,703) Forfeited — — — Non-vested at June 30, 2021 579,364 $13.20 1.30 $22,676 Stock-based compensation was included in the following captions in the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Share-based compensation expense by type: Time-based Restricted Stock Units $ 2,584 $ 1,951 $ 5,021 $ 3,517 Performance-based Restricted Stock Units 966 748 1,622 1,265 ESPP 30 27 59 53 Total share-based compensation expense $ 3,580 $ 2,726 $ 6,702 $ 4,835 Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Cost of products revenues $ 150 $ 118 $ 291 $ 220 Cost of services revenues 328 158 627 256 Research and development expenses 409 359 930 653 Marketing and selling expenses 617 581 1,219 1,022 General and administrative expenses 2,076 1,510 3,635 2,684 Total share-based compensation expense $ 3,580 $ 2,726 $ 6,702 $ 4,835

FINANCIAL INFORMATION (Policies

FINANCIAL INFORMATION (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenue from Contract with Customer	Significant Accounting Policies - Revenue Recognition We enter into contracts with customers that include various combinations of products and services, which are typically capable of being distinct and are accounted for as separate performance obligations. We account for a contract when (i) it has approval and commitment from both parties, (ii) the rights of the parties have been identified, (iii) payment terms have been identified, (iv) the contract has commercial substance, and (v) collectability is probable. We recognize revenue upon transfer of control of promised products or services to customers, which typically occurs upon shipment or delivery depending on the terms of the underlying contracts, in an amount that reflects the consideration we expect to receive in exchange for those products or services. We often enter into contractual arrangements that have multiple performance obligations, one or more of which may be delivered subsequent to the delivery of other performance obligations. These arrangements may include a combination of products, maintenance, training, and professional services. We allocate the transaction price of the arrangement based on the relative estimated standalone selling price of each distinct performance obligation. See Note 9 for disaggregated revenue schedules and further discussion on revenue and deferred revenue performance obligations and the timing of revenue recognition.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements On January 1, 2021, we adopted ASU 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 is intended to enhance and simplify aspects of the income tax accounting guidance in ASC 740 as part of the FASB's simplification initiative. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2020 with early adoption permitted. Our adoption of ASU 2019-12 did not have a material impact on our consolidated financial statements. Recent Accounting Pronouncements To Be Adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. This guidance is effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements and related disclosures.

NET INCOME PER SHARE Earnings_2

NET INCOME PER SHARE Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded From Computation of Net (Income) Loss Per Share	The following table sets forth (in thousands) potential common shares that were considered anti-dilutive securities at June 30, 2021 and 2020: June 30, 2021 June 30, 2020 Options — 465 Non-vested restricted stock units 910 3,177 Anti-dilutive potential common shares 910 3,642
Schedule of Weighted Average Number of Shares	The following table sets forth (in thousands) the basic and diluted weighted common shares outstanding for the three and six months ended June 30, 2021: Three months ended Six months ended Weighted common shares outstanding - basic 45,211 44,887 Net effect of common stock equivalents 1,339 1,533 Weighted common shares outstanding - diluted 46,550 46,420

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Financial assets and liabilities measured at fair value on a recurring basis	The following tables summarize our deferred compensation investments measured at fair value on a recurring basis (in thousands): Fair Value Measurements at Reporting Date Using June 30, Quoted Prices in Significant Significant Financial assets: Deferred compensation assets $ 363 $ 97 $ 266 $ — Fair Value Measurements at Reporting Date Using December 31, 2020 Quoted Prices in Significant Significant Financial assets: Deferred compensation assets $ 522 $ 282 $ 240 $ —

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in thousands): June 30, 2021 December 31, 2020 Raw materials $ 7,023 $ 8,223 Work in process 320 353 Finished goods 16,899 17,992 Total $ 24,242 $ 26,568

LEASES LEASES (Tables)

LEASES LEASES (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	The table below reconciles the undiscounted future minimum lease payments for operating and finance leases under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the condensed consolidated balance sheets as of June 30, 2021 (in thousands): Year Ending December 31, Operating Leases Finance Leases 2021 (excluding six months ended June 30, 2021) $ 3,718 $ 227 2022 6,570 255 2023 5,639 230 2024 4,954 — 2025 5,056 — Thereafter 11,731 — Total future minimum lease payments $ 37,668 $ 712 Less effects of discounting (6,483) (15) Total lease liabilities $ 31,185 $ 697
Finance Lease, Liability, Maturity	The table below reconciles the undiscounted future minimum lease payments for operating and finance leases under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the condensed consolidated balance sheets as of June 30, 2021 (in thousands): Year Ending December 31, Operating Leases Finance Leases 2021 (excluding six months ended June 30, 2021) $ 3,718 $ 227 2022 6,570 255 2023 5,639 230 2024 4,954 — 2025 5,056 — Thereafter 11,731 — Total future minimum lease payments $ 37,668 $ 712 Less effects of discounting (6,483) (15) Total lease liabilities $ 31,185 $ 697
Assets and Liabilities, Lessee	Supplemental balance sheet information related to leases was as follows (in thousands): Operating Leases June 30, 2021 Right of use assets $ 26,561 Accrued expenses and other current liabilities (5,366) Long-term lease liabilities (25,819) Total lease liabilities $ (31,185) Finance Leases June 30, 2021 Other assets $ 552 Accrued expenses and other current liabilities (256) Other long-term liabilities (441) Total lease liabilities $ (697)

OTHER LONG-TERM LIABILITIES (Ta

OTHER LONG-TERM LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Long-term liabilities	Other long-term liabilities consisted of the following (in thousands): June 30, 2021 December 31, 2020 Deferred compensation $ 5,565 $ 5,818 Finance lease liabilities 441 472 Other long-term liabilities 1,470 1,496 Total $ 7,476 $ 7,786

CONTINGENCIES (Tables)

CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Product warranty accrual activity	The following table sets forth the activity in the product warranty accrual account for the six months ended June 30, 2021 and 2020 (in thousands): Six Months Ended June 30, 2021 2020 Accrual balance at beginning of period $ 1,095 $ 1,337 Accruals for product warranties 827 700 Costs of warranty claims (601) (673) Accrual balance at end of period $ 1,321 $ 1,364

RESTRUCTURING COSTS AND ACCRU_2

RESTRUCTURING COSTS AND ACCRUALS (Tables)	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table sets forth the activity in the restructuring accruals for the six months ended June 30, 2021 (in thousands): Employee Accrual balance as of December 31, 2020 $ 3,687 Restructuring charges and revisions 927 Cash payments (3,308) Foreign exchange impact on ending balance (5) Accrual balance as of June 30, 2021 $ 1,301

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue by Type	The following table is a summary of our revenues by type for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Products and solutions net revenues $ 37,178 $ 27,635 $ 70,445 $ 62,346 Subscription services 21,508 16,427 46,376 30,385 Maintenance 30,443 30,570 60,295 62,364 Professional services, training and other services 5,747 4,649 12,124 10,639 Total net revenues $ 94,876 $ 79,281 $ 189,240 $ 165,734
Revenue by Geographic Region	The following table sets forth our revenues by geographic region for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Revenues: United States $ 41,587 $ 32,886 $ 81,058 $ 68,976 Other Americas 4,629 5,886 9,809 11,336 Europe, Middle East and Africa 34,094 28,706 70,617 61,941 Asia-Pacific 14,566 11,803 27,756 23,481 Total net revenues $ 94,876 $ 79,281 $ 189,240 $ 165,734
Contract Asset	Contract Asset Contract asset activity for the six months ended June 30, 2021 and 2020 was as follows (in thousands): June 30, 2021 June 30, 2020 Contract asset at beginning of year $ 18,579 $ 19,494 Revenue in excess of billings 27,282 13,155 Customer billings (24,033) (14,403) Contract asset at end of period $ 21,828 $ 18,246
Deferred Revenue	Deferred revenue activity for the six months ended June 30, 2021 and 2020 was as follows (in thousands): June 30, 2021 June 30, 2020 Deferred revenue at beginning of period $ 99,259 $ 97,901 Billings deferred 46,686 39,334 Recognition of prior deferred revenue (54,362) (51,512) Deferred revenue at end of period $ 91,583 $ 85,723 A summary of the significant performance obligations included in deferred revenue is as follows (in thousands): June 30, 2021 Product $ 5,302 Subscription 6,467 Maintenance contracts 71,266 Implied PCS 7,031 Professional services, training and other 1,517 Deferred revenue at June 30, 2021 $ 91,583

LONG-TERM DEBT AND CREDIT AGR_2

LONG-TERM DEBT AND CREDIT AGREEMENT (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consisted of the following (in thousands): June 30, 2021 December 31, 2020 Term Loan, net of unamortized issuance costs and debt discount of $2,317 and $2,579 at June 30, 2021 and December 31, 2020, respectively $ 173,183 $ 198,629 PPP Loan 7,800 7,800 Other long-term debt 1,156 1,271 Total debt $ 182,139 207,700 Less: current portion 16,961 4,941 Total long-term debt $ 165,178 $ 202,759 $7,800198,629
Schedule of Maturities of Long-term Debt	The following table summarizes the contractual maturities of our borrowing obligations as of June 30, 2021 (in thousands): Fiscal Year Credit Agreement PPP Loan Other Long-Term Debt Total 2021 $ 4,500 — 79 $ 4,579 2022 9,000 7,800 167 16,967 2023 13,500 — 179 13,679 2024 18,000 — 191 18,191 2025 18,000 — 205 18,205 Thereafter 112,500 — 335 112,835 Total before unamortized discount 175,500 7,800 1,156 184,456 Less: unamortized discount and issuance costs 2,317 — — 2,317 Less: current portion of long-term debt 9,000 7,800 161 16,961 Total long-term debt $ 164,183 $ — $ 995 $ 165,178

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Option, Activity	Information with respect to the Company’s option shares granted under all of our stock incentive plans for the six months ended June 30, 2021 was as follows: Total Number of Options Weighted- Weighted- Aggregate Options outstanding at January 1, 2021 246,000 $7.48 Granted — — Exercised (246,000) 7.48 Forfeited or canceled — — Options outstanding at June 30, 2021 — $— 0.00 $—
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	Information with respect to the Company’s non-vested restricted stock units for the six months ended June 30, 2021 was as follows: Number of Restricted Stock Units Weighted- Weighted- Aggregate Shares Retained to Cover Statutory Minimum Withholding Taxes Non-vested at January 1, 2021 2,114,879 $7.01 — Granted 438,295 29.02 — Vested (1,003,933) 6.69 (316,222) Forfeited (33,683) 7.25 — Outstanding at June 30, 2021 1,515,558 $13.57 0.98 $59,319 Information with respect to the Company’s non-vested performance-based restricted stock units for the six months ended June 30, 2021 was as follows: Number of Performance-based Restricted Stock Units Weighted- Weighted- Aggregate Shares Retained to Cover Statutory Minimum Withholding Taxes Non-vested at January 1, 2021 653,428 $6.74 — Granted 397,048 15.07 — Vested (471,112) 5.81 (196,703) Forfeited — — — Non-vested at June 30, 2021 579,364 $13.20 1.30 $22,676
Share-based Payment Arrangement, Expensed and Capitalized, Amount	Stock-based compensation was included in the following captions in the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Share-based compensation expense by type: Time-based Restricted Stock Units $ 2,584 $ 1,951 $ 5,021 $ 3,517 Performance-based Restricted Stock Units 966 748 1,622 1,265 ESPP 30 27 59 53 Total share-based compensation expense $ 3,580 $ 2,726 $ 6,702 $ 4,835 Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Cost of products revenues $ 150 $ 118 $ 291 $ 220 Cost of services revenues 328 158 627 256 Research and development expenses 409 359 930 653 Marketing and selling expenses 617 581 1,219 1,022 General and administrative expenses 2,076 1,510 3,635 2,684 Total share-based compensation expense $ 3,580 $ 2,726 $ 6,702 $ 4,835

NET INCOME PER SHARE Earnings_3

NET INCOME PER SHARE Earnings Per Share (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Net Loss Per Share [Line Items]
Anti-dilutive potential common shares (in thousands of shares)	910	3,642
Options
Antidilutive Securities Excluded from Computation of Net Loss Per Share [Line Items]
Anti-dilutive potential common shares (in thousands of shares)	0	465
Non-vested restricted stock units
Antidilutive Securities Excluded from Computation of Net Loss Per Share [Line Items]
Anti-dilutive potential common shares (in thousands of shares)	910	3,177

NET INCOME PER SHARE Weighted A

NET INCOME PER SHARE Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Weighted-average common shares outstanding – basic	45,211	43,719	44,887	43,486
Net effect of common stock equivalents	1,339		1,533
Weighted-average common shares outstanding – diluted	46,550	44,180	46,420	43,486

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financial Assets:
Deferred compensation assets	$ 363	$ 522
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Assets:
Deferred compensation assets	97
Significant Other Observable Inputs (Level 2)
Financial Assets:
Deferred compensation assets	266
Significant Unobservable Inputs (Level 3)
Financial Assets:
Deferred compensation assets	$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 7,023	$ 8,223
Work in process	320	353
Finished Goods	16,899	17,992
Total inventory	24,242	$ 26,568
Finished goods, consigned	$ 1,600

LEASES LEASES (Details)

LEASES LEASES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Discount Rate, Percent	6.00%		6.00%
Operating Lease, Weighted Average Remaining Lease Term	6 years 1 month 6 days		6 years 1 month 6 days
Finance Lease, Weighted Average Discount Rate, Percent	2.30%		2.30%
Finance Lease, Weighted Average Remaining Lease Term	2 years 2 months 12 days		2 years 2 months 12 days
Operating Lease, Cost	$ 1,800	$ 2,500	$ 3,700	$ 5,100
Operating Lease, Payments	1,900	$ 2,200	4,000	$ 4,800
2024	4,954		4,954
2025	5,056		5,056
2023	$ 5,639		$ 5,639
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	1 year		1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	7 years		7 years

LEASES Maturity Schedule (Detai

LEASES Maturity Schedule (Details) $ in Thousands	Jun. 30, 2021USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021 (excluding six months ended June 30, 2021)	$ 3,718
2022	6,570
2023	5,639
2024	4,954
2025	5,056
Thereafter	11,731
Total future minimum lease payments	37,668
Less effects of discounting	(6,483)
Total lease liabilities	(31,185)
Finance Lease, Liability, Payment, Due [Abstract]
2021 (excluding six months ended June 30, 2021)	227
2022	255
2023	230
2024	0
2025	0
Thereafter	0
Total future minimum lease payments	712
Less effects of discounting	(15)
Total lease liabilities	$ 697

LEASES Supplemental Balance She

LEASES Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Right of use assets	$ 26,561	$ 29,430
Accrued expenses and other current liabilities	(5,366)
Long-term lease liabilities	(25,819)	$ (28,462)
Total lease liabilities	(31,185)
Other assets	552
Accrued expenses and other current liabilities	(256)
Other long-term liabilities	(441)
Total lease liabilities	$ (697)

OTHER LONG-TERM LIABILITIES (De

OTHER LONG-TERM LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Deferred compensation	$ 5,565
Finance Lease, Liability, Noncurrent	441
Other long-term liabilities	1,470
Total	$ 7,476	$ 7,786

CONTINGENCIES (Details)

CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Product warranty accrual [Roll Forward]
Accrual balance at beginning of year		$ 1,095	$ 1,337
Accruals for product warranties		827	700
Cost of warranty claims		(601)	(673)
Accrual balance at end of period	$ 1,321	1,321	$ 1,364
Standby Letters of Credit [Member] | Office Space - Burlington, Massachusetts [Member]
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss, Portion Not Accrued	700	700
Loss Contingency, Range Of Possible Loss, Portion Not Accrued, Minimum	700	700
Standby Letters of Credit [Member] | Office Space - Other Facilities [Member]
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount	600	600
Standby Letters of Credit [Member] | Other Operating Obligations [Member]
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount	1,600	1,600
Research and Development Arrangement [Member]
Loss Contingencies [Line Items]
Long-term Purchase Commitment, Amount	$ 32,200
Long-term Purchase Commitment, Period	5 years
Other Inventory, Purchased Goods, Gross	$ 7,100	$ 7,100

RESTRUCTURING COSTS AND ACCRU_3

RESTRUCTURING COSTS AND ACCRUALS (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 15,000	$ 140,000	$ 1,089,000	$ 285,000
Employee Severance [Member]
Restructuring accrual [Roll Forward]
Accrual balance at beginning of year			3,687,000
New restructuring charges - operating expenses			927,000
Cash payments			(3,308,000)
Foreign exchange impact on ending balance			(5,000)
Accrual balance at end of period	1,301,000		$ 1,301,000
2016 Plan [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Accrual Adjustment	$ 1,100,000
Restructuring and Related Cost, Number of Positions Eliminated	23
Restructuring charges	$ 200,000

REVENUE Revenue by Type (Detail

REVENUE Revenue by Type (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Number of reportable segments			1
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 94,876	$ 79,281	$ 189,240	$ 165,734
Products and solutions net revenues
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	37,178		70,445
Subscription services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	21,508	16,427	46,376	30,385
Maintenance
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	30,443	30,570	60,295	62,364
Professional services, training and other services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 5,747	$ 4,649	$ 12,124	$ 10,639

REVENUE Revenue by Geographic R

REVENUE Revenue by Geographic Regions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 94,876	$ 79,281	$ 189,240	$ 165,734
United States
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	41,587	32,886	81,058	68,976
Other Americas
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	4,629	5,886	9,809	11,336
Europe, Middle East and Africa
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	34,094	28,706	70,617	61,941
Asia-Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 14,566	$ 11,803	$ 27,756	$ 23,481

REVENUE Contract Asset (Details

REVENUE Contract Asset (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Change in Contract with Customer, Asset [Abstract]
Contract asset at beginning of year	$ 18,579	$ 19,494
Revenue in excess of billings	27,282	13,155
Customer billings	(24,033)	(14,403)
Contract asset at end of period	$ 21,828	$ 18,246

REVENUE Deferred Revenue Activi

REVENUE Deferred Revenue Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Movement in Deferred Revenue [Roll Forward]
Deferred revenue at beginning of period	$ 99,259	$ 97,901
Billings deferred	46,686	39,334
Recognition of prior deferred revenue	(54,362)	(51,512)
Deferred revenue at end of period	91,583	85,723
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	45,100
Deferred Revenue	91,583	$ 85,723
Products
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	5,302
Subscription services
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	6,467
Maintenance contracts
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	71,266
Implied PCS
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	7,031
Professional services, training and other
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	$ 1,517

REVENUE Remaining Performance O

REVENUE Remaining Performance Obligations (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2026	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Revenue Arrangement [Line Items]
Revenue, Performance Obligation, Description of Timing	six years
Remaining Performance Obligation	$ 45,100
Unbilled Receivables, Not Billable	38,900
Products
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	5,302
Subscription services
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	6,467
Maintenance contracts
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	71,266
Implied PCS
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	7,031
Implied PCS | Forecast [Member]
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation		$ 200	$ 500	$ 1,000	$ 1,500	$ 2,200	$ 1,600
Professional services, training and other
Deferred Revenue Arrangement [Line Items]
Remaining Performance Obligation	$ 1,517

LONG-TERM DEBT AND CREDIT AGR_3

LONG-TERM DEBT AND CREDIT AGREEMENT - SCHEDULE OF LONG TERM DEBT (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Term Loan, net of unamortized issuance costs and debt discount of $2,317 and $2,579 at June 30, 2021 and December 31, 2020, respectively	$ 173,183
Other long-term debt	1,156
Total debt	182,139	$ 207,700
Less: current portion	16,961	4,941
Total long-term debt	165,178	$ 202,759
Federal Home Loan Bank Advances [Member]
Debt Instrument [Line Items]
PPP Loan	$ 7,800

LONG-TERM DEBT AND CREDIT AGR_4

LONG-TERM DEBT AND CREDIT AGREEMENT Debt Disclosure (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument, Periodic Payment, Principal	$ 4,579
Long-term Debt, Maturities, Repayments of Principal in Year Two	16,967
Long-term Debt, Maturities, Repayments of Principal in Year Three	13,679
Long-term Debt, Maturities, Repayments of Principal in Year Four	18,191
Long-term Debt, Maturities, Repayments of Principal in Year Five	18,205
Long-term Debt, Maturities, Repayments of Principal after Year Five	112,835
Total debt	184,456
Convertible Notes unamortized issue discount and debt issuance costs	2,317
Less: current portion	16,961	$ 4,941
Total long-term debt	165,178	$ 202,759
Revolving Credit Facility [Member]
Debt Instrument, Periodic Payment, Principal	4,500
Long-term Debt, Maturities, Repayments of Principal in Year Two	9,000
Long-term Debt, Maturities, Repayments of Principal in Year Three	13,500
Long-term Debt, Maturities, Repayments of Principal in Year Four	18,000
Long-term Debt, Maturities, Repayments of Principal in Year Five	18,000
Long-term Debt, Maturities, Repayments of Principal after Year Five	112,500
Total debt	175,500
Convertible Notes unamortized issue discount and debt issuance costs	2,317
Less: current portion	9,000
Total long-term debt	164,183
Federal Home Loan Bank Advances
Debt Instrument, Periodic Payment, Principal	0
Long-term Debt, Maturities, Repayments of Principal in Year Two	7,800
Long-term Debt, Maturities, Repayments of Principal in Year Three	0
Long-term Debt, Maturities, Repayments of Principal in Year Four	0
Long-term Debt, Maturities, Repayments of Principal in Year Five	0
Long-term Debt, Maturities, Repayments of Principal after Year Five	0
Total debt	7,800
Convertible Notes unamortized issue discount and debt issuance costs	0
Less: current portion	7,800
Total long-term debt	0
Other Debt Obligations [Member]
Debt Instrument, Periodic Payment, Principal	79
Long-term Debt, Maturities, Repayments of Principal in Year Two	167
Long-term Debt, Maturities, Repayments of Principal in Year Three	179
Long-term Debt, Maturities, Repayments of Principal in Year Four	191
Long-term Debt, Maturities, Repayments of Principal in Year Five	205
Long-term Debt, Maturities, Repayments of Principal after Year Five	335
Total debt	1,156
Convertible Notes unamortized issue discount and debt issuance costs	0
Less: current portion	161
Total long-term debt	$ 995

LONG-TERM DEBT AND CREDIT AGR_5

LONG-TERM DEBT AND CREDIT AGREEMENT Debt Disclosurre (Details) - USD ($)	Jan. 05, 2021	Jun. 28, 2019	May 02, 2019	May 10, 2018	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Apr. 08, 2019	Feb. 26, 2016
Other long-term debt					$ 1,156,000		$ 1,156,000
Total debt					182,139,000		182,139,000		$ 207,700,000
Less: current portion					16,961,000		16,961,000		4,941,000
Total long-term debt					165,178,000		165,178,000		202,759,000
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction							2,574,000	$ 289,000
Interest Expense					1,633,000	$ 5,498,000	7,306,000	10,781,000
Loss (Gain) on Extinguishment of Debt	$ 3,700,000						2,579,000	0
Convertible Notes unamortized issue discount and debt issuance costs					2,317,000		2,317,000
Long-term Debt, Maturities, Repayments of Principal in Year Two					16,967,000		16,967,000
Long-term Debt, Maturities, Repayments of Principal in Year Three					13,679,000		13,679,000
Long-term Debt, Maturities, Repayments of Principal in Year Four					18,191,000		18,191,000
Long-term Debt, Maturities, Repayments of Principal in Year Five					18,205,000		18,205,000
Long-term Debt, Maturities, Repayments of Principal after Year Five					112,835,000		112,835,000
Write off of Deferred Debt Issuance Cost	2,600,000
Prepayment penalty on extinguishment of debt	$ 1,100,000						1,169,000	$ 0
Term Loan
Debt Instrument, LIBOR Floor Rate	0.25%
Term Loan | Debt Instrument, Principal Payment Period One
Debt Instrument, Periodic Payment, Principal, Percent	5.00%
Term Loan | Debt Instrument, Principal Payment Period Two
Debt Instrument, Periodic Payment, Principal, Percent	7.50%
Term Loan | Debt Instrument, Principal Payment Period Three
Debt Instrument, Periodic Payment, Principal, Percent	10.00%
London Interbank Offered Rate (LIBOR) [Member] | Term Loan
Debt Instrument, Basis Spread on Variable Rate	3.00%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Term Loan
Debt Instrument, Basis Spread on Variable Rate	2.00%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | Term Loan
Debt Instrument, Basis Spread on Variable Rate	3.25%
Revolving Credit Facility [Member]
Less: current portion					9,000,000		9,000,000
Total long-term debt					164,183,000		164,183,000
Convertible Notes unamortized issue discount and debt issuance costs					2,317,000		2,317,000
Long-term Debt, Maturities, Repayments of Principal in Year Two					9,000,000		9,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Three					13,500,000		13,500,000
Long-term Debt, Maturities, Repayments of Principal in Year Four					18,000,000		18,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Five					18,000,000		18,000,000
Long-term Debt, Maturities, Repayments of Principal after Year Five					112,500,000		112,500,000
Other Debt Obligations [Member]
Less: current portion					161,000		161,000
Total long-term debt					995,000		995,000
Convertible Notes unamortized issue discount and debt issuance costs					0		0
Long-term Debt, Maturities, Repayments of Principal in Year Two					167,000		167,000
Long-term Debt, Maturities, Repayments of Principal in Year Three					179,000		179,000
Long-term Debt, Maturities, Repayments of Principal in Year Four					191,000		191,000
Long-term Debt, Maturities, Repayments of Principal in Year Five					205,000		205,000
Long-term Debt, Maturities, Repayments of Principal after Year Five					335,000		335,000
Convertible Debt [Member]
Convertible Notes unamortized issue discount and debt issuance costs					0		0		680,000
Federal Home Loan Bank Advances
Less: current portion					7,800,000		7,800,000
Total long-term debt					0		0
Convertible Notes unamortized issue discount and debt issuance costs					0		0
Long-term Debt, Maturities, Repayments of Principal in Year Two					7,800,000		7,800,000
Long-term Debt, Maturities, Repayments of Principal in Year Three					0		0
Long-term Debt, Maturities, Repayments of Principal in Year Four					0		0
Long-term Debt, Maturities, Repayments of Principal in Year Five					0		0
Long-term Debt, Maturities, Repayments of Principal after Year Five					0		0
Federal Home Loan Bank Advances [Member]
PPP Loan					7,800,000		7,800,000
Cerberus Business Finance LLC [Member]
Proceeds from Loans				$ 22,500,000
Cerberus Business Finance LLC [Member] | Line of Credit [Member]
Repayments of Lines of Credit	$ 201,000,000
Cerberus Business Finance LLC [Member] | Long-term Debt [Member]
Unamortized Debt Issuance Expense					2,317,000		2,317,000		$ 3,334,000
Interest Expense, Long-term Debt					1,400,000		2,800,000
Convertible Notes unamortized issue discount and debt issuance costs					$ 2,500,000		$ 2,500,000
Term Loan, Net, Period Increase (Decrease)				22,700,000
Cerberus Business Finance LLC [Member] | Long-term Debt [Member] | Delayed Draw Funds
Total long-term debt		$ 79,300,000								$ 100,000,000
Repayments of Long-term Debt		$ 20,700,000
Cerberus Business Finance LLC [Member] | Line of Credit [Member]
Debt Instrument, Restrictive Covenant, Excess Cash Flow Payment Requirement, As A Percentage											50.00%
Line of Credit Facility, Increase (Decrease), Net				$ 12,500,000
JPMorgan Chase | Term Loan
Line of Credit Facility, Maximum Borrowing Capacity	180,000,000
JPMorgan Chase | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 70,000,000
JPMorgan Chase | Line of Credit [Member]
Line Of Credit Facility, Covenant Terms, Maximum Net Leverage Ratio	4
Line Of Credit Facility, Covenant Terms, Minimum Fixed Charge Ratio	1.20
Convertible Debt [Member]
Repayments of Senior Debt			$ 72,700,000
Interest Expense			600,000
Payments of Financing Costs			$ 6,000,000

STOCKHOLDERS' EQUITY Options Ac

STOCKHOLDERS' EQUITY Options Activity (Details) - Share-based Payment Arrangement, Option [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	0	246,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(246,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0	$ 7.48
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	7.48
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	0 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 0

STOCKHOLDERS' EQUITY Non-vested

STOCKHOLDERS' EQUITY Non-vested Restricted Stock (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	1,515,558	2,114,879
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	438,295
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(1,003,933)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(33,683)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 13.57	$ 7.01
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	29.02
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	6.69
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 7.25
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	11 months 23 days
Share-based Compensation Arrangement by Share-based Payment Award, Non-vested Restricted Stock Aggregate Intrinsic Value	$ 59,319
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	(316,222)
Performance-Based Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	579,364	653,428
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	397,048
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(471,112)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 13.20	$ 6.74
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	15.07
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	5.81
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	1 year 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Non-vested Restricted Stock Aggregate Intrinsic Value	$ 22,676
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	(196,703)

STOCKHOLDERS' EQUITY Stock-base

STOCKHOLDERS' EQUITY Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Expense	$ 3,580	$ 2,726	$ 6,702	$ 4,835
Restricted Stock Units (RSUs) [Member] | Time Based RSUs
Employee Benefits and Share-based Compensation	2,584	1,951
Restricted Stock Units (RSUs) [Member] | Performance-Based Vesting [Member]
Employee Benefits and Share-based Compensation	966	748
Employee Stock
Employee Benefits and Share-based Compensation	30	27
Cost of Products Revenues [Member]
Share-based Payment Arrangement, Expense	150	118	291	220
Cost of Services Revenues [Member]
Share-based Payment Arrangement, Expense	328	158	627	256
Research and Development Expense [Member]
Share-based Payment Arrangement, Expense	409	359	930	653
Selling and Marketing Expense [Member]
Share-based Payment Arrangement, Expense	617	581	1,219	1,022
General and Administrative Expense [Member]
Share-based Payment Arrangement, Expense	$ 2,076	$ 1,510	$ 3,635	$ 2,684