0001564590-20-006450 | 10-K | XBRL Viewer

Print Document View Excel Document

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2019	Feb. 07, 2020	Jun. 28, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Trading Symbol	SPSC
Entity Registrant Name	SPS COMMERCE, INC.
Entity Central Index Key	0001092699
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		34,862,316
Entity Public Float			$ 1.8
Entity Interactive Data Current	Yes
Entity File Number	001-34702
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-2015127
Entity Address, Address Line One	333 South Seventh Street
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55402
City Area Code	612
Local Phone Number	435-9400
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Company’s definitive Proxy Statement for the Annual Meeting of Stockholders to be held on May 21, 2020 (the “2020 Proxy Statement”), which is expected to be filed within 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K, are incorporated by reference in Part III of this Annual Report on Form 10-K.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash and cash equivalents	$ 179,252	$ 133,859
Short-term investments	34,284	44,537
Accounts receivable, net	31,532	27,488
Deferred costs	35,274	34,502
Other current assets	11,279	9,229
Total current assets	291,621	249,615
PROPERTY AND EQUIPMENT, net	23,752	20,957
OPERATING LEASE RIGHT-OF-USE ASSETS	15,744
GOODWILL	76,845	69,658
INTANGIBLE ASSETS, net	22,668	22,741
OTHER ASSETS
Deferred costs	11,667	10,973
Deferred income tax assets	2,630	10,456
Other assets	2,513	1,723
Total assets	447,440	386,123
CURRENT LIABILITIES
Accounts payable	4,274	4,440
Accrued compensation	22,303	20,415
Accrued expenses	6,207	4,558
Deferred revenue	31,463	25,328
Deferred rent		1,781
Operating lease liabilities	3,783
Total current liabilities	68,030	56,522
OTHER LIABILITIES
Deferred revenue	2,851	2,512
Deferred rent		5,371
Operating lease liabilities	20,085
Deferred income tax liabilities	1,193	1,376
Other non-current liabilities	405	1,368
Total liabilities	92,564	67,149
COMMITMENTS and CONTINGENCIES
STOCKHOLDERS’ EQUITY
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding
Common stock, $0.001 par value; 55,000,000 shares authorized; 36,104,619 and 35,515,256 shares issued; and 34,863,271 and 34,691,472 outstanding, respectively	36	36
Treasury stock, at cost; 1,241,348 and 823,784 shares, respectively	(46,297)	(25,679)
Additional paid-in capital	354,115	332,574
Retained earnings	48,973	15,261
Accumulated other comprehensive loss	(1,951)	(3,218)
Total stockholders’ equity	354,876	318,974
Total liabilities and stockholders’ equity	$ 447,440	$ 386,123

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	55,000,000	55,000,000
Common stock, shares issued	36,104,619	35,515,256
Common stock, shares outstanding	34,863,271	34,691,472
Treasury stock, shares	1,241,348	823,784

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenues	$ 279,124	$ 248,240	$ 220,085
Cost of revenues	92,239	81,748	73,625
Gross profit	186,885	166,492	146,460
Operating expenses
Sales and marketing	70,140	71,719	71,261
Research and development	28,305	22,087	23,183
General and administrative	44,719	41,862	37,461
Amortization of intangible assets	5,315	4,093	4,574
Total operating expenses	148,479	139,761	136,479
Income from operations	38,406	26,731	9,981
Other income (expense)
Interest income, net	2,947	2,329	1,032
Other income (expense), net	272	(626)	(320)
Change in earn-out liability	445	(94)
Total other income, net	3,664	1,609	712
Income before income taxes	42,070	28,340	10,693
Income tax expense	8,358	4,468	10,342
Net income	33,712	23,872	351
Other comprehensive income
Foreign currency translation adjustments	1,290	(3,999)	3,944
Unrealized gain on investments, net of tax of $122, $132 and $0	367	397
Reclassification of unrealized (gain) loss on investments into earnings, net of tax of ($133), ($91) and $24	(398)	(273)	39
Comprehensive income	$ 34,971	$ 19,997	$ 4,334
Net income per share
Basic	$ 0.96	$ 0.69	$ 0.01
Diluted	$ 0.94	$ 0.68	$ 0.01
Weighted average common shares used to compute net income per share
Basic	35,024	34,392	34,366
Diluted	36,002	35,212	34,712

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Unrealized gain on investments, tax	$ 122	$ 132	$ 0
Reclassification of unrealized (gain) loss on investments into earnings, tax	$ (133)	$ (91)	$ 24

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance at Dec. 31, 2016	$ 257,767	$ 34		$ 286,298	$ (25,239)	$ (3,326)
Beginning balance, shares at Dec. 31, 2016		34,162,290
Stock-based compensation	12,728			12,728
Exercise of stock options and issuance of restricted stock	1,410			1,410
Exercise of stock options and issuance of restricted stock, shares		271,812
Cumulative-effect adjustment for previously unrecognized excess tax benefits	16,277				16,277
Employee stock purchase plan	1,933			1,933
Employee stock purchase plan, shares		81,936
Retirement of escrow shares	(523)			(523)
Retirement of escrow shares, shares		(17,732)
Repurchases of common stock	(5,815)		$ (5,815)
Repurchases of common stock, shares		(244,294)	244,294
Net income	351				351
Foreign currency translation adjustments	3,944					3,944
Reclassification of gain (loss) on investments into earnings	39					39
Ending balance at Dec. 31, 2017	288,111	$ 34	$ (5,815)	301,846	(8,611)	657
Ending balance, shares at Dec. 31, 2017		34,254,012	244,294
Stock-based compensation	11,270			11,270
Exercise of stock options and issuance of restricted stock	14,344	$ 2		14,342
Exercise of stock options and issuance of restricted stock, shares		866,398
Employee stock purchase plan	1,745			1,745
Employee stock purchase plan, shares		69,596
Repurchases of common stock	(19,864)		$ (19,864)
Repurchases of common stock, shares		(579,490)	579,490
Stock issued for acquisition	3,371			3,371
Stock issued for acquisition, Shares		80,956
Net income	23,872				23,872
Foreign currency translation adjustments	(3,999)					(3,999)
Unrealized gain on investments, net of tax	397					397
Reclassification of gain (loss) on investments into earnings	(273)					(273)
Ending balance at Dec. 31, 2018	318,974	$ 36	$ (25,679)	332,574	15,261	(3,218)
Ending balance, shares at Dec. 31, 2018		34,691,472	823,784
Stock-based compensation	13,365			13,365
Exercise of stock options and issuance of restricted stock	6,207			6,207
Exercise of stock options and issuance of restricted stock, shares		536,034
Employee stock purchase plan	2,269			2,269
Employee stock purchase plan, shares		58,851
Repurchases of common stock	(20,618)		$ (20,618)
Repurchases of common stock, shares		(417,564)	417,564
Settlement and subsequent return of shares	(300)			(300)
Settlement and subsequent return of shares, shares		(5,522)
Net income	33,712				33,712
Foreign currency translation adjustments	1,290					1,290
Unrealized gain on investments, net of tax	367					367
Reclassification of gain (loss) on investments into earnings	(398)					(398)
Adoption of ASU 2018-02	8					8
Ending balance at Dec. 31, 2019	$ 354,876	$ 36	$ (46,297)	$ 354,115	$ 48,973	$ (1,951)
Ending balance, shares at Dec. 31, 2019		34,863,271	1,241,348

Consolidated Statements of Stockholders' Equity (Parenthetical)	Aug. 22, 2019	Aug. 22, 2019	Aug. 08, 2019
Statement Of Stockholders Equity [Abstract]
Stock split ratio	2	2	2

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Net income	$ 33,712	$ 23,872	$ 351
Reconciliation of net income to net cash provided by operating activities
Deferred income taxes	7,581	2,798	9,616
Change in earn-out liability	(445)	94
Depreciation and amortization of property and equipment	11,123	8,593	7,208
Amortization of intangible assets	5,315	4,093	4,574
Provision for doubtful accounts	3,499	2,592	1,705
Stock-based compensation	14,690	12,510	12,728
Other, net	(574)	(364)	(15)
Changes in assets and liabilities, net of effects of acquisition
Accounts receivable	(6,771)	(4,569)	(5,586)
Deferred costs	(1,441)	(5,564)	(7,813)
Other current and non-current assets	(2,768)	(3,333)	393
Accounts payable	(489)	937	832
Accrued compensation	319	3,957	1,304
Accrued expenses	706	(135)	1,192
Deferred revenue	6,366	7,094	5,588
Deferred rent		2,440	(1,027)
Operating leases	971
Net cash provided by operating activities	71,794	55,015	31,050
Cash flows from investing activities
Purchases of property and equipment	(13,585)	(13,750)	(7,271)
Purchases of investments	(73,700)	(81,666)	(47,878)
Maturities of investments	84,472	82,224	33,029
Acquisition of business and intangible assets, net	(11,500)	(27,273)	(500)
Net cash used in investing activities	(14,313)	(40,465)	(22,620)
Cash flows from financing activities
Repurchases of common stock	(20,618)	(19,864)	(5,815)
Net proceeds from exercise of options to purchase common stock	6,207	14,344	1,410
Net proceeds from employee stock purchase plan	2,269	1,745	1,933
Net cash used in financing activities	(12,142)	(3,775)	(2,472)
Effect of foreign currency exchange rate changes	54	(43)	1,292
Net increase in cash and cash equivalents	45,393	10,732	7,250
Cash and cash equivalents at beginning of year	133,859	123,127	115,877
Cash and cash equivalents at end of year	179,252	133,859	123,127
Supplemental disclosure of cash flow information
Cash paid for income taxes, net	1,545	1,534	1,068
Non-cash financing activities:
Net purchases of property and equipment on account	$ 322	405	$ 1,335
Common stock issued for business acquisitions		$ 3,371

General

12 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

General

NOTE A – General

Business Description

SPS Commerce is a leading provider of cloud-based supply chain management solutions that make it easier for retailers, suppliers, distributors, and logistics firms to orchestrate the management of item data, order fulfillment, inventory control and sales analytics across all channels. Implementing and maintaining a suite of supply chain management capabilities is resource intensive and is not a core competency for most businesses.

The services offered by SPS Commerce eliminate the need for on-premise software and support staff by taking on that capability on the customer’s behalf. The solutions SPS Commerce provides enable our customers to increase their supply cycle agility, optimize their inventory levels and sell-through, reduce operational costs and gain increased visibility into customer orders, ensuring that suppliers, distributors, and logistics firms can satisfy retailer requirements.

Basis of Presentation

The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of SPS Commerce, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.

Effective January 1, 2019, we adopted the requirements of Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), and used the effective date as our date of initial application. Consequently, financial information was not updated and the disclosures required under the new standard were not provided for dates and periods before January 1, 2019. The new standard provides several optional practical expedients in transition. We elected the “package of practical expedients,” which permits us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. We did not elect the use of hindsight or the practical expedient pertaining to land easements, the latter not being applicable to us. The new standard also provides practical expedients for an entity’s ongoing accounting. We elected the short-term lease recognition exemption for all leases that qualify, which means we will not recognize right-of-use (“ROU”) assets or lease liabilities for these leases. This includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. We also elected the practical expedient to not separate lease and non-lease components for all leases.

On July 25, 2019, we announced that our board of directors declared a two-for-one stock split of our common stock, effected in the form of a 100 percent stock dividend as of the record date on August 8, 2019. The stock split dividend was distributed on August 22, 2019. Earnings per share and weighted average shares outstanding are presented in this Annual Report on Form 10-K after the effect of the 100 percent stock dividend. The two-for-one stock split is reflected in the share amounts in all periods presented in this Annual Report on Form 10-K.

Foreign Currency Translation

The functional currency of our foreign operations is generally the applicable local currency. The functional currency is translated into U.S. dollars for balance sheet accounts using current exchange rates in effect as of the balance sheet date and for revenue and expense accounts using an average exchange rate during the fiscal year. The translation adjustments are deferred as a component of other comprehensive income within the consolidated statements of comprehensive income and the consolidated statements of stockholders' equity. Gains or losses resulting from transactions denominated in foreign currencies, if any, are included in other income (expense), net in our consolidated statements of comprehensive income.

Use of Estimates

Preparing financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Business Combinations

We recognize the fair value of the assets acquired and the liabilities assumed at the acquisition date, separately from goodwill. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the amount of the assets acquired and the liabilities assumed.

Assets acquired include tangible and intangible assets. We use estimates and assumptions that we believe are reasonable as a part of the purchase price allocation, which includes the process to determine the value and useful lives of purchased intangible assets and the process to determine the value of any contingent consideration liabilities. We recorded the acquisition-date fair value of any contingent liabilities, such as earn-out provisions, as part of the consideration transferred. The earn-out liability fair value is subsequently remeasured at each reporting date. The Company evaluates each contingent consideration to determine the valuation approach. See Note E for valuation methods utilized in the fair value remeasurement as of the reporting date.

While we believe these estimates and assumptions are reasonable, they are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the fair value of the assets acquired and the liabilities assumed. Any such adjustments would be recorded as an offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair values, whichever comes first, any subsequent adjustments would be recorded in our consolidated statements of comprehensive income.

Segment Information

We operate in and report on one segment, which is supply chain management solutions.

Risk and Uncertainties

We rely on hardware and software licensed from third parties to offer our on-demand solutions. Our management believes alternate sources are available; however, disruption or termination of these relationships could adversely affect our operating results in the near term.

Concentration of Credit Risk

Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents in financial institutions in excess of federally insured limits and accounts receivable. Cash and cash equivalents are held with financial institutions that we believe are subject to minimal risk.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and highly liquid investments with original maturities of less than 90 days. Cash and cash equivalents are stated at fair value.

Investments

Management determines the appropriate classification of certificates of deposit and marketable securities at the time of purchase and reevaluates such determination at each balance sheet date. Securities are classified as available for sale and are carried at fair value, with the change in unrealized gains and losses, net of tax, reported as unrealized gains on investments on the consolidated statements of comprehensive income. Fair value is determined based on quoted market rates when observable or utilizing data points that are observable, such as quoted prices, interest rates and yield curves. When a determination has been made that an other-than-temporary decline in fair value has occurred, the amount of the decline that is related to a credit loss is realized and is included in other income (expense), net in the consolidated statements of comprehensive income.

Fair Value of Other Financial Instruments

The carrying amounts of our short-term financial instruments, which include cash, cash equivalents, accounts receivable, and accounts payable, approximates fair value due to their short-term nature. Marketable securities are recorded at fair value as further described in Note E.

Accounts Receivable

Accounts receivable are initially recorded upon the sale of solutions to customers. Credit is granted in the normal course of business without collateral. Accounts receivable are stated net of allowances for doubtful accounts, which represent estimated losses resulting from the inability of certain customers to make the required payments. When determining the allowances for doubtful accounts, we take several factors into consideration including the overall composition of the accounts receivable aging, our prior history of accounts receivable write-offs, the type of customers and our experience with specific customers. We write-off accounts receivable when they are determined to be uncollectible. Changes in the allowances for doubtful accounts are recorded as bad debt expense and are included in general and administrative expense in our consolidated statements of comprehensive income.

Property and Equipment

Property and equipment, including assets acquired under capital lease obligations, are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives when placed in service, which are:

Computer equipment and software: 2 to 3 years

Office equipment and furniture: 5 to 7 years

Leasehold improvements: the shorter of the useful life of the asset or the remaining term of the lease

Significant additions or improvements extending asset lives beyond one year are capitalized, while repairs and maintenance are charged to expense as incurred.

We capitalize and amortize eligible costs to acquire or develop internal-use software that are incurred during the application development stage. Costs incurred during the preliminary project stage and post-implementation stage are expensed as incurred. Internal-use software is depreciated over the estimated useful life, commencing on the date when the asset is ready for its intended use. Depreciation is computed using the straight-line method. Maintenance and enhancements of internal-use software are expensed as incurred.

The assets and related accumulated depreciation and amortization are adjusted for asset retirements and disposals and abandoned internal-use software with the resulting gain or loss included in our consolidated statements of comprehensive income.

Leases

We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use assets, current operating lease liabilities, and long-term operating lease liabilities in our consolidated balance sheets.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. We estimate the discount rate for a similar collateralized asset by reviewing quoted costs of borrowing. We use the implicit interest rate when readily determinable. The operating lease ROU asset also includes any lease payments made and lease incentives that have been incurred. The options to extend our leases are not recognized as part of our ROU assets and lease liabilities unless it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For all leases, we combine non-lease components with the related lease components and account for it as a single lease component. The ROU assets are subject to the same impairment process as our long-lived assets. Additionally, we review our lease liabilities for remeasurement whenever there is a triggering event or when relevant facts and circumstances change.

Research and Development

Research and development costs primarily include maintenance and data conversion activities related to our cloud-based supply chain management solutions and are expensed as incurred.

Goodwill

Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. We test goodwill for impairment annually at November 30, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test is conducted by comparing the fair value of the net assets with the carrying amount of the reporting unit. We determine the fair value of the reporting unit based on our market capitalization at the testing date. If the carrying amount of the goodwill exceeds the fair value of the reporting unit, goodwill may be impaired. If this occurs, the fair value is then allocated to its assets and liabilities in a manner similar to a purchase price allocation in order to determine the implied fair value of goodwill. This implied fair value is then compared to the carrying amount of goodwill and, if it is less, we would recognize an impairment loss in the consolidated statements of comprehensive income.

Intangible Assets

Assets acquired in business combinations may include identifiable intangible assets such as subscriber relationships, developed technology, and non-competition agreements. We recognize separately from goodwill the fair value of the identifiable intangible assets acquired. We have determined the fair value and useful lives of our purchased intangible assets using certain estimates and assumptions that we believe are reasonable.

The purchased intangible assets are being amortized on a straight-line basis over their estimated useful lives, which are seven to ten years for subscriber relationships, three to five years for non-competition agreements and three to ten years for technology.

Third Party Implementation Assets

Third party implementation costs are capitalized assets included in Other Assets and relate to implementation costs incurred for software hosting arrangements.

Capitalized implementation costs are recognized on a straight-line basis beginning when the application is ready for its intended use and ending on the expected termination date of the hosting arrangement, including consideration of the noncancelable contractual term and reasonably certain renewals.

The terms are between four and six years for our current hosting arrangements. Recognized expense is reported in general and administrative expense, which is where the hosting arrangement subscriptions are reported.

Impairment of Long-Lived Assets

We review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The carrying amount of a long-lived asset is not recoverable if the carrying amount of an asset group exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the assets at the date it is tested for recoverability, whether in use or under development. An impairment loss is measured as the amount by which the carrying amount of a long-lived asset exceeds its fair value.

Revenue Recognition

Revenues are recognized when our services are made available to our customers, in an amount that reflects the consideration we are contractually and legally entitled to in exchange for those services.

We determine revenue recognition through the following steps:

Identification of the contract, or contracts, with a customer

Identification of the performance obligations in the contract

Determination of the transaction price

Allocation of the transaction price to the performance obligations in the contract

Recognition of revenue when, or as, we satisfy a performance obligation

See Note C for further descriptions of our revenue recognition policy.

Deferred Costs

Deferred costs consist of costs to obtain customer contracts, such as commissions paid to sales personnel and to third-party partners for customer referrals, and costs to fulfill customer contracts, such as customer implementation costs.

Sales commissions relating to recurring revenues are considered incremental and recoverable costs of obtaining a contract with our customer. These commissions are calculated based on estimated annual recurring revenue to be generated over the customer’s initial contract period. These costs are deferred and amortized over the expected period of benefit, which we have determined to be two years. Amortization expense is included in sales and marketing expenses in the accompanying consolidated statements of comprehensive income.

Customer implementation costs are considered incremental and recoverable costs of obtaining a contract with our customer. These costs are deferred and amortized over the expected period of benefit, which we have determined to be two years. Amortization expense is included in cost of revenues in the accompanying consolidated statements of comprehensive income.

Stock-Based Compensation

We recognize the cost of all share-based payments to employees, executive officers, and non-employee members of the Company’s Board of Directors, including grants of stock options, performance share units (“PSUs”), restricted stock units (“RSUs”), restricted stock awards (“RSAs”), and 401(k) stock match in the consolidated financial statements based on the grant date fair value of those awards. This cost is recognized over the period for which an employee is required to provide service in exchange for the award.

In valuing share-based awards, judgment is required in determining the expected volatility of common stock and the expected term individuals will hold their share-based awards prior to exercising. The expected volatility of the options is based on the historical volatility of our common stock. The expected term of the options is based on the simplified method, which does not consider historical employee exercise behavior. We recognize forfeitures as they occur.

Income Taxes

We account for income taxes using the asset and liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in our judgement, it is more likely than not that some or all of the deferred tax asset will not be realized.

We assess our ability to realize our deferred tax assets at the end of each reporting period. Realization of our deferred tax assets is contingent upon future taxable earnings. Accordingly, this assessment requires estimates and judgment. If the estimates of future taxable income vary from actual results, our assessment regarding the realization of these deferred tax assets could change. Future changes in the estimated amount of deferred taxes expected to be realized will be reflected in our consolidated financial statements in the period the estimate is changed, with a corresponding adjustment to our operating results.

We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would “more likely than not” sustain the position following an audit. For tax positions meeting the “more likely than not” threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority.

Net Income Per Share

Basic net income per share has been computed using the weighted average number of shares of common stock outstanding during each period. Diluted net income per share also includes the impact of our outstanding potential common shares, including options, RSUs, RSAs, and PSUs. Potential common shares that are anti-dilutive are excluded from the calculation of diluted net income per share.

Recently Adopted Accounting Pronouncements

Standard

Date of Issuance

Description

Date Adopted

Effect on the Financial Statements

ASU 2016-02, Leases and all related amendments

February

2016

Requires all leases with a term greater than 12 months to be recognized in the statements of financial position and eliminates current real estate-specific lease guidance, while maintaining substantially similar classification criteria for distinguishing between finance leases and operating leases.

January

2019

The adoption of this standard and related amendments resulted in the recognition of approximately $15.7 million in right-of-use assets and lease liabilities on our balance sheet as of January 1, 2019. Comparative periods will continue to be measured and presented under historical guidance, and only the period of adoption and future periods will be subject to this ASU. There was no cumulative effect on retained earnings or other components of equity at the adoption date. For more information see Note J.

ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220)

February

2018

Allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cut and Jobs Act of 2017 and requires certain disclosures regarding stranded tax effects in accumulated other comprehensive income.

January

2019

The adoption of this standard did not have a material impact on our consolidated financial statements.

Accounting Pronouncements Not Yet Adopted

Standard	Date of Issuance	Description	Date of Required Adoption	Effect on the Financial Statements
ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements	June 2016	The amendment in this update replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses.	January 2020	We have evaluated the requirements of this standard on our financial assets and have concluded that the adoption of this ASU, beginning January 1, 2020, will not have a material impact on our consolidated financial statements.
ASU 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement	August 2018	This ASU adds, modifies and removes several disclosure requirements relative to the three levels of inputs used to measure fair value in accordance with Topic 820, Fair Value Measurement.	January 2020	The adoption of this standard will not have a material impact on our consolidated financial statements.
ASU 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment	January 2017	This amendment eliminates Step 2 from the goodwill impairment test.	January 2020	The adoption of this standard will not have a material impact on our consolidated financial statements.

Business Acquisitions

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Business Acquisitions

NOTE B – Business Acquisitions

MAPADOC

On August 26, 2019, we completed our asset acquisition of the MAPADOC business, an operating unit of SWK Technologies, Inc., a leading provider of EDI System Automation solutions for the Sage and Acumatica markets. Pursuant to the asset purchase agreement, the purchase price is $11.8 million. The purchase accounting, purchase price allocation, and net working capital adjustment for the MAPADOC acquisition were finalized during the fourth quarter of 2019.

Purchase Price Allocation

We accounted for the acquisition as a business combination. We allocated the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. We engaged a third-party valuation firm to assist us in the determination of the value of the purchased intangible assets. The excess of the purchase price over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. Goodwill is attributed to a trained workforce and other buyer-specific value resulting from expected synergies, including long-term cost savings, which are not included in the fair values of identifiable assets.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

Current assets	$	659
Goodwill		6,372
Intangible assets		5,000
Deferred revenue		(225	)
	$	11,806

Purchased Intangible Assets

The following table summarizes the estimated fair value of the purchased intangible assets and their estimated useful lives:

	Estimated		Estimated
	Fair Value		Life
Purchased Intangible Assets	(in thousands)		(in years)
Developed technology	$	3,600		8
Subscriber relationships		1,400		8
	$	5,000

The purchased intangible assets are being amortized on a straight-line basis over their estimated useful lives. Amortization expense for the period from August 26, 2019 through December 31, 2019 was $0.2 million.

EDIAdmin

On October 3, 2018, we completed our asset acquisition of EDIAdmin, a privately held company providing end-to-end integration solutions, featuring a dedicated Integration Platform as a Service (“iPaaS”) called Cloud Hybrid Integration Platform (“CHIP”) and collaborative managed services for leading systems and applications, both cloud and on-premise. Pursuant to the asset purchase agreement, we paid $7.5 million in cash to the owner of EDIAdmin. The purchase accounting for the EDIAdmin acquisition was complete as of December 31, 2018. The purchase agreement also allowed the seller to receive up to $1.7 million in cash, which becomes payable in the first quarter of 2020 and 2021, contingent upon the completion of certain revenue milestones at December 31, 2019 and December 31, 2020. During the year ended December 31, 2019, we recognized other income of $0.4 million in our consolidated statements of comprehensive income due to the remeasurement of the contingent liability. In 2020, we expect to pay $0.5 million for the completion of certain revenue milestones at December 31, 2019. The fair value of the remaining contingent consideration was $0.4 million at December 31, 2019. See Note E for further disclosures on the remeasurement of the contingent liability.

CovalentWorks

On December 18, 2018, we completed our asset acquisition of CovalentWorks, a privately held company providing cloud-based EDI solutions to small- and medium-sized businesses. Pursuant to the asset purchase agreement, we paid $19.4 million in cash and issued $3.4 million in common stock, or 80,956 shares, as adjusted for our two-for-one stock split effective August 22, 2019, to the owners of CovalentWorks. The purchase accounting, purchase price allocation, and net working capital adjustment for the CovalentWorks acquisition were finalized during the first quarter of 2019.

Revenue

12 Months Ended

Dec. 31, 2019

Revenue From Contract With Customer [Abstract]

Revenue

NOTE C – Revenue

We derive our revenues primarily from the following revenue streams (in thousands):

	Year Ended December 31,
	2019		2018		2017
Recurring revenues:
Fulfillment	$	219,297	$	190,783	$	164,682
Analytics		37,038		34,447		34,260
Other		5,671		5,424		4,978
Recurring Revenues		262,006		230,654		203,920
One-time revenues		17,118		17,586		16,165
	$	279,124	$	248,240	$	220,085

We determine revenue recognition through the following steps:

Identification of the contract, or contracts, with a customer

Identification of the performance obligations in the contract

Determination of the transaction price

Allocation of the transaction price to the performance obligations in the contract

Recognition of revenue when, or as, we satisfy a performance obligation

Recurring Revenues

Recurring revenues consist of recurring subscriptions from customers that utilize our Fulfillment, Analytics and Other cloud-based supply chain management solutions. Revenue for these solutions is generally recognized on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our contracts with our recurring revenue customers are recurring in nature, ranging from monthly to annual, and generally allow the customer to cancel the contract for any reason with 30 to 90 days’ notice. Timing of billings varies by customer and by contract type and are either in advance or within 30 days of the service being performed.

The deferred revenue liabilities for recurring revenue contracts are for one year or less and recognized on a ratable basis over the contract term. We have applied the optional exemption under Accounting Standards Codification (“ASC”) 606-10-50-14(a) and will not disclose information about the remaining performance obligations for contracts which have original durations of one year or less.

One-time Revenues

One-time revenues consist of set-up fees from customers and miscellaneous one-time fees.

Set-up fees are specific for each connection a customer has with a trading partner and many of our customers have connections with numerous trading partners. Set-up fees related to our cloud-based supply chain management solutions are nonrefundable upfront fees that are necessary for our customers to utilize our cloud-based services. These set-up fees do not provide any standalone value to our customers.

Certain contracts contain set-up fees that constitute a material renewal option right. This material right provides customers a significant future incentive that would not be otherwise available to that customer unless they entered into the contract, as the set-up fees will not be incurred again upon contract renewal.

For our Fulfillment solution, we have determined that the set-up fees and related costs represent a material renewal option right to our customers as they will not be incurred again upon renewal. These set-up fees and related costs are deferred and recognized ratably over two years, which is the estimated period for which a material right is present for our customers.

For our Analytics solution, we have determined that the set-up fees do not represent a material customer renewal right and, as such, are deferred and recognized ratably over the estimated initial contract term, which is generally one year.

The table below presents the activity of the portion of the deferred revenue liability relating to set-up fees (in thousands):

	Year Ended December 31,
	2019			2018
Balances, at beginning of the year	$	9,857		$	10,031
Invoiced set-up fees		11,056			10,271
Amortized set-up fees		(10,395	)		(10,445	)
Balances, at end of the year	$	10,518		$	9,857

The entire balance of set-up fees will be recognized within two years and, as such, current amounts will be recognized in the next 1-12 months and long-term amounts will be recognized in the next 13-24 months.

Miscellaneous one-time fees consist of professional services and testing and certification. The deferred revenue liability for these one-time fees are for one year or less and recognized at the time service is provided. We have applied the optional exemption under ASC 606-10-50-14(a) to not disclose information about the remaining performance obligations for contracts which have original durations of one year or less.

Deferred Costs

12 Months Ended

Dec. 31, 2019

Deferred Costs [Abstract]

Deferred Costs

NOTE D – Deferred Costs

Costs to obtain customer contracts relating to recurring revenues are considered incremental and recoverable costs of obtaining a contract with our customer. These costs are deferred and amortized over the expected period of benefit which we have determined to be two years. Amortization expense is included in sales and marketing expenses in the accompanying consolidated statements of comprehensive income.

Costs to fulfill customer contracts are considered incremental and recoverable costs of obtaining a contract with our customer. These costs are deferred and amortized over the expected period of benefit which we have determined to be two years. Amortization expense is included in cost of revenues in the accompanying consolidated statements of comprehensive income.

The table below presents the activity of deferred costs and amortization of deferred costs (in thousands):

	Year Ended December 31,
	2019			2018
Balances, at beginning of the year	$	45,475		$	39,933
Incurred deferred costs		49,883			49,583
Amortized deferred costs		(48,417	)		(44,041	)
Balances, at end of the year	$	46,941		$	45,475

Financial Instruments

12 Months Ended

Dec. 31, 2018

Disclosure Text Block Supplement [Abstract]

Financial Instruments

NOTE E – Financial Instruments

We invest primarily in money market funds, certificates of deposit, highly liquid debt instruments of the U.S. government and U.S. corporate debt securities. All highly liquid investments with original maturities of 90 days or less are classified as cash equivalents. All investments with original maturities greater than 90 days and remaining maturities less than one year from the balance sheet date are classified as short-term investments. As of December 31, 2019 and 2018, all of our investments held were classified as short-term.

Our short-term marketable securities are classified as available-for-sale. We intend to hold marketable securities until maturity; however, we may sell these securities at any time for use in current operations or for other purposes.

Our marketable securities are carried at fair value and unrealized gains and losses on these investments, net of taxes, are included in accumulated other comprehensive loss in the consolidated balance sheets. Realized gains or losses are included in other income (expense), net in the consolidated statements of comprehensive income. When a determination has been made that an other-than-temporary decline in fair value has occurred, the amount of the decline that is related to a credit loss is realized and is included in other income (expense), net in the consolidated statements of comprehensive income.

Cash equivalents and short-term investments consisted of the following (in thousands):

	December 31,
	2019						2018
	Amortized		Unrealized		Fair		Amortized		Unrealized		Fair
	Cost		Gains, net		Value		Cost		Gains, net		Value
Cash equivalents:
Money market funds	$	151,266	$	—	$	151,266	$	109,265	$	—	$	109,265
Certificate of deposit		7,030		—		7,030		7,000		—		7,000
Marketable securities:
Corporate bonds		9,785		20		9,805		15,194		40		15,234
Commercial paper		7,503		—		7,503		9,889		76		9,965
U.S. treasury securities		9,855		91		9,946		12,300		38		12,338
	$	185,439	$	111	$	185,550	$	153,648	$	154	$	153,802
Due within one year					$	185,550					$	153,802
Total					$	185,550					$	153,802

As of December 31, 2019, we had less than $0.1 million of unrealized losses and we do not believe any of these unrealized losses represent an other-than-temporary impairment based on our assessment of available evidence. We expect to receive the full principal and interest on all of these cash equivalents, certificates of deposit, and marketable securities.

Recurring Fair Value Measurements

We measure certain financial assets at fair value on a recurring basis based on a fair value hierarchy that requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value are:

•

Level 1 – quoted prices in active markets for identical assets or liabilities.

•

Level 2 – observable inputs other than Level 1 prices, such as (a) quoted prices for similar assets or liabilities, (b) quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or (c) model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.

•

Level 3 – unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.

We obtain the fair values of our level 2 available-for-sale securities from a professional pricing service.

For the earn-out liability related to the EDIAdmin acquisition, the Company utilized the Monte Carlo simulation method to estimate the fair value of this contingent liability as of the reporting date. Thousands of iterations of the simulation were performed using forecasted revenues to develop a distribution of future values of recurring revenue which, in turn, provide indicated earn-out payments. The total estimated fair value equals the sum of the average present values of the indicated earn-out payments. Changes in assumptions described above could have an impact on the payout of contingent consideration with a maximum payout being $1.7 million.

The following table presents information about our financial assets that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value (in thousands):

	Level 1		Level 2		Level 3		Total
Assets at December 31, 2019:
Cash equivalents:
Money market funds	$	151,266	$	—	$	—	$	151,266
Certificate of deposit		7,030		—		—		7,030
Marketable securities:
Corporate bonds		—		9,805		—		9,805
Commercial paper		—		7,503		—		7,503
U.S. treasury securities		—		9,946		—		9,946
	$	158,296	$	27,254	$	—	$	185,550

Liabilities at December 31, 2019:
Earn-out liability	$	—	$	—	$	405	$	405
	$	—	$	—	$	405	$	405

Assets at December 31, 2018:
Cash equivalents:
Money market funds	$	109,265	$	—	$	—	$	109,265
Certificate of deposit		7,000		—		—		7,000
Marketable securities:
Corporate bonds		—		15,234		—		15,234
Commercial paper		—		9,965		—		9,965
U.S. treasury securities		—		12,338		—		12,338
	$	116,265	$	37,537	$	—	$	153,802

Liabilities at December 31, 2018:
Earn-out liability	$	—	$	—	$	1,368	$	1,368
	$	—	$	—	$	1,368	$	1,368

The portion of the earn-out liability expected to be paid in the first quarter of 2020 has been determined to be $0.5 million, given the completion of certain revenue milestones for the year ending December 31, 2019. As such, $0.5 million of the earn-out consideration is included in accrued expenses in the consolidated balance sheet at December 31, 2019 and transferred from the Level 3 earn-out liability measured at fair value. The remaining earn-out liability is expected to be paid in the first quarter of 2021 and has been measured as Level 3 given the unobservable inputs that are significant to the measurement of the liability. Other than the transfer relating to the EDIAdmin contingent consideration, there were no other transfers in or out of our Level 1, 2, or 3 assets or liabilities during the years ended December 31, 2019 and 2018.

Nonrecurring Fair Value Measurements

The Company measures certain assets and liabilities at fair value on a nonrecurring basis. Assets and liabilities that are measured at fair value on a nonrecurring basis include long-lived assets, goodwill and indefinite-lived intangible assets, which would generally be recorded at fair value as a result of an impairment charge. Assets acquired and liabilities assumed as part of business combinations are measured at fair value. For additional information on the Company's business combinations and the related nonrecurring fair value measurement of the assets acquired and liabilities assumed, refer to “Note B, Business Acquisitions”.

Allowance for Doubtful Accounts

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Allowance for Doubtful Accounts

NOTE F – Allowance for Doubtful Accounts

The allowance for doubtful accounts activity, included in accounts receivable, net, was as follows (in thousands):

	2019			2018			2017
Balance, January 1	$	1,392		$	763		$	515
Provision for doubtful accounts		3,499			2,590			1,705
Write-offs, net of recoveries		(3,422	)		(1,961	)		(1,457	)
Balance, December 31	$	1,469		$	1,392		$	763

Property and Equipment, net

12 Months Ended

Dec. 31, 2019

Property Plant And Equipment [Abstract]

Property and Equipment, net

NOTE G – Property and Equipment, net

Property and equipment, net included the following (in thousands):

	December 31,
	2019			2018
Computer equipment and software	$	54,030		$	44,781
Office equipment and furniture		9,205			7,985
Leasehold improvements		11,091			9,366
		74,326			62,132
Less: accumulated depreciation and amortization		(50,574	)		(41,175	)
	$	23,752		$	20,957

Depreciation and amortization expense of property and equipment, net for fiscal 2019, 2018, and 2017 was $11.1 million, $8.6 million, and $7.2 million, respectively. At December 31, 2019 and 2018, property and equipment, net included approximately $2.0 million and $1.7 million, respectively, of assets held at subsidiary and office locations outside of the U.S.

Goodwill and Intangible Assets, net

12 Months Ended

Dec. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, net

NOTE H – Goodwill and Intangible Assets, net

The changes in the net carrying amount of goodwill for the years ended December 31, 2019 and 2018 are as follows (in thousands):

	2019		2018
Balance, January 1	$	69,658	$	51,613
Additions from business acquisitions		6,372		20,272
Foreign currency translation		815		(2,227	)
Balance, December 31	$	76,845	$	69,658

There were no impairment losses in relation to goodwill for the periods presented.

Intangible assets, net included the following (in thousands):

	December 31, 2019
	Carrying Amount		Accumulated Amortization			Foreign Currency Translation		Net
Subscriber relationships	$	43,640	$	(27,287	)	$	214	$	16,567
Non-competition agreements		2,495		(2,371	)		10		134
Technology		8,602		(2,643	)		8		5,967
	$	54,737	$	(32,301	)	$	232	$	22,668

	December 31, 2018
	Carrying Amount		Accumulated Amortization			Foreign Currency Translation			Net
Subscriber relationships	$	43,212	$	(23,284	)	$	(623	)	$	19,305
Non-competition agreements		2,560		(2,247	)		(28	)		285
Technology		5,199		(2,012	)		(36	)		3,151
	$	50,971	$	(27,543	)	$	(687	)	$	22,741

The estimated annual amortization expense related to intangible assets subject to amortization for the next five years and thereafter is as follows (in thousands):

2020	$	5,359
2021		4,518
2022		3,415
2023		3,342
2024		2,101
Thereafter		3,933
	$	22,668

Other Assets

12 Months Ended

Dec. 31, 2019

Other Assets [Abstract]

Other Assets

NOTE I – Other Assets

The changes in the net amount of capitalized implementation costs for software hosting arrangements for the years ended December 31, 2019 and 2018 are as follows (in thousands):

	2019			2018
Balance, January 1	$	455		$	—
Capitalized implementation fees		797			455
Amortization of implementation fees		(86	)		—
Balance, December 31	$	1,166		$	455

There were no impairment losses in relation to the capitalized implementation costs for the periods presented.

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

NOTE J – Leases

We are obligated under non-cancellable operating leases, primarily for office space and certain equipment, as follows:

	December 31, 2019
	Remaining Term		Right-of-Use Asset
	(in years)		(in thousands)
Minneapolis, MN lease		5	$	10,704
Kiev, Ukraine lease		5		2,316
Little Falls, NJ lease		4		1,574
Other leases	<1 - 5			1,150
			$	15,744

Some of our leases may include options to extend the leases for up to five years. The options to extend our leases are not recognized as part of our ROU assets and lease liabilities as it is not reasonably certain that we will exercise those options. Additionally, our agreements do not include options to terminate the leases.

In December 2017, we executed the fourth amendment to our lease agreement for our current headquarters located in Minneapolis, Minnesota where we lease approximately 189,000 square feet under an agreement that expires on April 30, 2025. We have agreed to expand our headquarters by approximately 25,000 square feet during 2020. Our lease agreement also includes a further expansion right and a right of first offer to lease certain additional space and two options to extend the term of the lease for five years at a market rate determined in accordance with the lease. Incentives of $9.9 million are included as a lease component.

In December 2019, we executed a lease agreement for a new Kiev, Ukraine location, where we lease approximately 17,000 square feet under an agreement that expires on May 31, 2025. The lease includes a right of first offer to lease certain additional space and one option to extend the term for five years and six months at a market rate determined in accordance with the lease. Under a separate lease agreement, we lease approximately 10,000 square feet under an agreement that expires on April 26, 2020, which we will not be renewing upon termination.

In February 2016, we executed the first amendment to our lease agreement for our Little Falls, New Jersey location where we lease approximately 26,000 square feet under an agreement that expires on June 30, 2023. The agreement includes an option to extend the term of the lease for five years at a market rate determined in accordance with the lease. Incentives of $0.9 million are included as a lease component.

The components of lease expense were as follows (in thousands):

	Year Ended
	December 31, 2019
Operating lease cost	$	2,569
Variable lease cost		3,390
	$	5,959

Operating lease cost for short-term leases was not material for the year ended December 31, 2019.

Rent expense for all operating leases, which includes minimum lease payments and other charges such as common area maintenance fees, charged to operations was as follows (in millions):

	Year Ended December 31,
	2018		2017
Rent expense	$	5,577	$	4,941

Supplemental cash flow information related to leases was as follows (in thousands):

	Year Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	4,383
ROU assets obtained in exchange for operating lease liabilities	$	2,537

The ROU assets obtained in exchange for operating lease liabilities excludes the transition amount of $15.7 million.

Supplemental balance sheet information related to leases was as follows:

	December 31, 2019
Weighted-average remaining lease term - operating leases	5.0 years
Weighted-average discount rate - operating leases		4.5	%

At December 31, 2019, our future minimum payments under operating leases were as follows (in thousands):

2020	$	4,595
2021		5,600
2022		5,091
2023		4,903
2024		4,651
Thereafter		1,604
		26,444
Less: imputed interest		(2,576	)
	$	23,868

At December 31, 2018, our future minimum payments under operating leases were as follows (in thousands):

2019	$	4,209
2020		3,542
2021		4,414
2022		4,042
2023		3,854
Thereafter		4,817
	$	24,878

Contingencies

12 Months Ended

Dec. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Contingencies

NOTE K – Contingencies

We may be involved in various claims and legal actions in the normal course of business. We believe that the outcome of any such claim or legal action is not expected to have a material effect on our financial position, results of operations or cash flows.

Stockholders' Equity

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Stockholders’ Equity

NOTE L – Stockholders’ Equity

Stock Split

On August 22, 2019, we effected a two-for-one stock split of our common stock. There was no change in the number of our authorized common shares. All share and per share data have been adjusted for all periods presented to reflect the stock split.

Common Stock Issued

In connection with the acquisition of CovalentWorks (see Note B), we issued 80,956 shares of SPS Commerce common stock, as adjusted for our two-for-one stock split effective August 22, 2019, as calculated according to the terms of the purchase agreement. The fair value of the shares we issued of approximately $3.4 million was determined using the closing price of our common stock on December 18, 2018, the closing date of the transaction.

Stock Repurchase Program

On November 2, 2017, our board of directors authorized a program to repurchase up to $50.0 million of common stock. Under this program, we repurchased 417,564 shares at a cost of $20.6 million and 579,490 shares at a cost of $19.9 million for the years ended December 31, 2019 and 2018, respectively. On November 2, 2019, $3.7 million expired from the November 2, 2017 repurchase program. Shares have been adjusted for all periods to reflect a two-for-one stock split effective August 22, 2019.

On November 2, 2019, our board of directors authorized a new program to repurchase up to $50 million of common stock. Under the program, purchases may be made from time to time in the open market over two years. As of December 31, 2019, $50.0 million of the share repurchase authorized was available for future share repurchases.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

NOTE M – Stock-Based Compensation

Our equity compensation plans provide for the grant of incentive and nonqualified stock options, as well as other stock-based awards including restricted stock and RSUs, to employees, non-employee directors and other consultants who provide services to us. RSAs result in the issuance of new shares when granted. For other stock-based awards, new shares are issued when the award is exercised, vested or released according to the terms of the agreement. In February 2019, January 2018 and February 2017, 2,081,488, 2,055,240 and 2,049,736 additional shares, respectively, were reserved for future issuance under our 2010 Equity Incentive Plan. At December 31, 2019, there were approximately 12.1 million shares available for grant under approved equity compensation plans.

During the year ended December 31, 2017, stock-based compensation expense included a one-time $3.6 million charge due to a modification to our Chief Executive Officer’s employment agreement which resulted in immediate vesting, and expensing, of his outstanding stock-based compensation awards based on his retirement eligibility. Stock-based compensation expense was allocated as follows (in thousands):

	Year Ended December 31,
	2019		2018		2017
Cost of revenues	$	2,819	$	2,168	$	1,887
Operating expenses
Sales and marketing		2,946		2,675		2,197
Research and development		2,651		1,505		949
General and administrative		6,274		6,162		7,694
Total stock-based compensation expense	$	14,690	$	12,510	$	12,727

Stock-based compensation expense by type was as follows (in thousands):

	Year Ended December 31,
	2019		2018		2017
Stock Options	$	3,211	$	3,355	$	5,223
Performance Share Units		1,379		1,034		—
Restricted Stock Units		7,553		5,930		6,526
Restricted Stock Awards		519		487		318
Employee Stock Purchase Plan		701		466		660
401K Stock Match		1,327		1,238		—
Total stock-based compensation expense	$	14,690	$	12,510	$	12,727

As of December 31, 2019, there was approximately $18.7 million of unrecognized stock-based compensation expense under our equity compensation plans, which is expected to be recognized on a straight-line basis over a weighted-average period of 2.5 years.

Stock Options

Stock options generally vest over four years and have a contractual term of seven to ten years from the date of grant. Our stock option activity was as follows:

				Weighted Average
	Options			Exercise Price
	(#)			($/share)
Outstanding at December 31, 2016		2,032,024			22.36
Granted		345,394			27.94
Exercised		(131,004	)		10.77
Forfeited		(51,752	)		27.97
Outstanding at December 31, 2017		2,194,662			23.80
Granted		362,944			29.94
Exercised		(688,668	)		20.83
Forfeited		(122,470	)		28.34
Outstanding at December 31, 2018		1,746,468			25.93
Granted		184,434			53.92
Exercised		(346,098	)		21.98
Forfeited		(40,892	)		30.74
Outstanding at December 31, 2019		1,543,912			30.03

Of the total outstanding options at December 31, 2019, 1,160,714 were exercisable with a weighted average exercise price of $27.23 per share. The total outstanding options had a weighted average remaining contractual life of 3.6 years.

The table below presents the intrinsic value of options exercised and outstanding and factors related to our stock options (in thousands, except per share data):

	Year Ended December 31,
	2019		2018		2017
Fair value of options vested	$	3,393	$	3,689	$	4,227
Intrinsic value of options exercised		11,103		14,852		2,752
Intrinsic value of options outstanding		39,194		26,654		7,312
Weighted-average fair value per share of options granted		16.86		9.74		9.43

The fair values of the options granted were estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

	Year Ended December 31,
	2019			2018			2017
Volatility		33	%		35	%		38	%
Dividend yield		—			—			—
Life (in years)		4.43			4.44			4.51
Risk-free interest rate		2.41	%		2.54	%		1.85	%

The expected volatility of the options is based on the historical volatility of our common stock. We have not issued dividends on our common stock and do not expect to do so in the foreseeable future. The expected term of the options is based on the simplified method which does not consider historical employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at the grant date.

Performance Share Units and Restricted Stock Units and Awards

In February 2019 and 2018, our executive officers were granted PSU awards with vesting contingent on the Company’s total shareholder return as compared to indexed total shareholder return over the course of a three-year performance period (fiscal years 2018 – 2020 and fiscal years 2019 – 2021, respectively). The grant date fair value was estimated using a Monte Carlo simulation that utilizes multiple input variables that determine the probability of satisfying the performance conditions stipulated in the award and calculates the fair market value for the performance stock units granted. Expense is recognized on a straight-line basis over the performance period, regardless of whether the market condition is satisfied as the likelihood of the market condition being met is included in the fair-value measurement of the award.

In February 2017, our executive officers were granted PSU awards with vesting contingent on successful attainment of pre-determined revenue targets over the course of a three-year performance period (fiscal 2017 – 2019). The fair value is measured as the number of performance shares expected to be earned multiplied by the grant date fair value of our shares. The number of performance shares expected to vest during the current service period is estimated and the fair value of those shares is recognized over the remaining service period less any amounts already recognized.

RSUs vest over four years and, upon vesting, the holder is entitled to receive shares of our common stock. With RSAs, shares of our common stock are issued when the award is granted and the restrictions lapse over one year.

Our PSU and RSU activity was as follows:

				Weighted Average
	PSUs and RSUs			Grant Date Fair
	(#)			Value ($/share)
Outstanding at December 31, 2016		378,084			27.07
Granted		422,336			27.81
Vested and common stock issued		(129,900	)		26.82
Forfeited		(26,696	)		27.70
Outstanding at December 31, 2017		643,824			27.58
Granted		345,590			33.02
Vested and common stock issued		(163,122	)		28.16
Forfeited		(71,622	)		27.52
Outstanding at December 31, 2018		754,670			29.95
Granted		278,622			55.83
Vested and common stock issued		(206,380	)		30.20
Forfeited		(31,826	)		34.67
Outstanding at December 31, 2019		795,086			38.76

The number of PSUs and RSUs outstanding at December 31, 2019 included 124,786 units that have vested, but the shares of common stock have not yet been issued, pursuant to the terms of the agreement.

Our RSA activity was as follows:

				Weighted Average
	RSAs			Grant Date Fair
	(#)			Value ($/share)
Outstanding at December 31, 2016		3,048			26.14
Restricted common stock issued		10,908			29.15
Restrictions lapsed		(11,220	)		28.33
Outstanding at December 31, 2017		2,736			29.15
Restricted common stock issued		14,608			37.22
Restrictions lapsed		(13,680	)		35.60
Outstanding at December 31, 2018		3,664			37.22
Restricted common stock issued		9,840			51.80
Restrictions lapsed		(11,044	)		46.96
Outstanding at December 31, 2019		2,460			51.80

Employee Stock Purchase Plan

We have an employee stock purchase plan which allows participating employees to purchase shares of our common stock at a discount through payroll deductions. The plan is available to all employees subject to certain eligibility requirements. Participating employees may purchase common stock, on a voluntary after-tax basis, at a price that is the lower of 85% of the fair market value of one share of common stock at the beginning or end of each stock purchase period. The plan consists of two six-month offering periods, beginning on January 1 and July 1 of each calendar year. A total of 1.9 million shares of common stock are remaining for issuance under the plan at December 31, 2019.

Our ESPP activity was as follows (in thousands, except share data):

	Year Ended December 31,
	2019		2018		2017
Withholdings for share purchases	$	2,270	$	1,745	$	1,933
Shares purchased		58,851		69,596		81,936

The fair value was estimated based on the market price of our common stock at the beginning of each offering period and using the Black-Scholes option pricing model with the following weighted-average assumptions:

	Year Ended December 31,
	2019			2018			2017
Volatility		36	%		26	%		32	%
Dividend yield		—			—			—
Life (in years)		0.50			0.50			0.50
Risk-free interest rate		2.36	%		1.77	%		0.90	%

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

NOTE N – Income Taxes

Our provisions for income taxes included current federal, foreign and state income tax expense, as well as deferred tax expense as follows (in thousands):

	Year Ended December 31,
	2019			2018			2017
Current
Federal	$	—		$	—		$	(184	)
State		599			1,103			258
Foreign		169			540			652
Deferred
Federal		6,595			3,011			10,262
State		1,156			224			(291	)
Foreign		(161	)		(410	)		(355	)
	$	8,358		$	4,468		$	10,342

The tax provision for the year ended December 31, 2017 included a $0.4 million reclass of alternative minimum tax (“AMT”) credit carryforwards from the deferred federal provision to current federal provision, of which $0.2 million was refunded in 2019. The remaining unutilized AMT credit carryforwards become partially refundable in 2020 and 2021, and fully refundable in 2022.

A reconciliation of the expected federal income tax at the statutory rate to the provision for income taxes was as follows (in thousands):

	Year Ended December 31,
	2019			2018			2017
Expected federal income tax at statutory rate	$	8,835		$	5,951		$	3,635
State income taxes, net of federal tax effect		1,933			1,293			417
Tax impact of foreign activity		(108	)		57			(105	)
Nondeductible executive compensation		940			902			530
Nondeductible expenses		329			351			268
Change in valuation allowance		—			(4	)		16
Change in state deferred rate		47			38			(134	)
Research and development credit		(1,252	)		(1,843	)		(227	)
Tax impact of Tax Cuts and Jobs Act		—			—			6,796
Tax impact of stock activity		(2,518	)		(2,438	)		(925	)
Other		152			161			71
Total provision for income taxes	$	8,358		$	4,468		$	10,342

The Tax Act, which was enacted on December 22, 2017, reduced the corporate federal income tax rate to 21.0% effective January 1, 2018, resulting in discrete tax expense of $6.8 million for the reduction of deferred tax assets, for the year ended December 31, 2017. Also, the Tax Act expanded the deduction limits on executive compensation and included transition rules for previously awarded compensation.

Differences between our effective tax rate and statutory tax rates are primarily due to the federal research and development credit partially offset by permanently non-deductible expenses. Additionally, under ASU 2016-09, excess tax benefits generated upon settlement or exercise of stock awards are recognized as a reduction to income tax expense as a discrete tax item in the period that the event occurs creating potentially significant fluctuation in tax expense by year.

The significant components of our deferred tax assets (liabilities) were as follows (in thousands):

	December 31,
	2019						2018
Deferred tax assets
Net operating loss and credit carryforwards	$	9,122					$	8,356
Stock-based compensation expense		3,944						3,647
Accounts receivable allowances		496						464
Accrued expenses		2,916						3,185
Other		9						180
Gross deferred tax assets					16,487						15,832
Less: valuation allowance		(1,068	)					(797	)
Total net deferred tax assets					15,419						15,035
Deferred tax liabilities
Deferred operations		(8,820	)					(2,787	)
Foreign operations		(144	)					(135	)
Depreciation and amortization		(4,975	)					(2,943	)
Other		(43	)					(90	)
Total deferred tax liabilities					(13,982	)					(5,955	)
Net deferred tax assets				$	1,437					$	9,080

As of December 31, 2019, we had net operating loss carryforwards of $34.0 million for U.S. federal tax purposes. We also had $3.6 million of various state net operating loss carryforwards. The loss carryforwards for federal tax purposes will expire between 2020 and 2039 if not utilized. The loss carryforwards for state tax purposes will expire between 2021 and 2031 if not utilized.

Section 382 of the U.S. Internal Revenue Code generally imposes an annual limitation on the amount of net operating loss carryforwards that might be used to offset taxable income when a corporation has undergone significant changes in stock ownership. As of December 31, 2019, we had $21.6 million of net operating loss carryforwards subject to Section 382 limitations, of which we believe approximately $17.6 million of federal losses will expire unused due to Section 382 limitations. The remaining $4.0 million is subject to a maximum annual limitation under Section 382 of approximately $1.0 million. This limitation could be further restricted if any ownership changes occur in future years. Accordingly, our deferred tax assets are reported net of the Section 382 limitations.

As of December 31, 2019, we had federal research and development credit carryforwards, net of Section 383 limitations, of $4.2 million, which, if not utilized, will begin to expire in 2030. We had state research and development credit carryforwards of $1.4 million which, if not utilized, will begin to expire in 2025.

As of December 31, 2019, we had a valuation allowance against our deferred tax assets of $1.1 million. The valuation allowance is established for state credit carryforwards that we do not expect to utilize based on our current expectations of future state taxable income.

We are subject to income taxes for U.S. federal and various state and international jurisdictions. We are generally subject to U.S. federal and state tax examinations for all prior tax years due to our net operating loss carryforwards and the utilization of the carryforwards in years still open under statute.

As of December 31, 2019, we do not have any unrecognized tax benefits. It is our practice to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. We do not expect any material changes in our unrecognized tax positions over the next 12 months.

Net Income Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Net Income Per Share

NOTE O – Net Income Per Share

The following table presents the components of the computation of basic and diluted net income per share for the periods indicated (in thousands, except per share amounts):

	Year Ended December 31,
	2019		2018		2017
Numerator
Net income	$	33,712	$	23,872	$	351
Denominator
Weighted average common shares outstanding, basic		35,024		34,392		34,366
Options to purchase common stock		680		612		300
PSUs, RSUs and RSAs		298		208		46
Weighted average common shares outstanding, diluted		36,002		35,212		34,712
Net income per share
Basic	$	0.96	$	0.69	$	0.01
Diluted	$	0.94	$	0.68	$	0.01

Shares and per share data have been adjusted for all periods presented to reflect a two-for-one stock split effective August 22, 2019.

For the years ended December 31, 2019, 2018 and 2017, the effect of approximately 181,000, approximately 1,000 and approximately 566,000 outstanding potential common shares, respectively, were excluded from the calculation of diluted net income per share as they were anti-dilutive.

Retirement Savings Plan

12 Months Ended

Dec. 31, 2019

Compensation And Retirement Disclosure [Abstract]

Retirement Savings Plan

NOTE P – Retirement Savings Plan

We sponsor a 401(k) retirement savings plan for our employees. Employees can contribute up to 80% of their compensation, subject to the limits established by law. In 2018, we increased our match to 50% of the employee’s contribution up to the first 6% of pre-tax annual compensation. A portion of our match is in company stock, which is purchased from the open market by our plan provider and immediately deposited into the employee’s 401(k) account. Additionally, we make statutory contributions to retirement plans as required by local foreign government regulations. Our total contributions to the plan were $3.3 million, $2.9 million and $1.6 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Related Party Transactions

12 Months Ended

Dec. 31, 2019

Related Party Transactions

NOTE Q – Related Party Transactions

SPS Commerce Foundation (the “Foundation”) is a Minnesota non-profit organization exempt from federal taxation under Section 501(c)(3) of the Internal Revenue Code. The Foundation was formed in 2015 to engage in, advance, support, promote and administer charitable activities. The directors of the Foundation are also our officers. These officers receive no compensation from the Foundation for the management services performed for the Foundation. The Foundation is not a subsidiary of ours and the financial results of the Foundation are not consolidated with our financial statements. We made no contributions for the year ended December 31, 2019 and we made contributions of $0.7 million and $0.2 million to the Foundation for the years ended December 31, 2018 and 2017, respectively. We have no current legal obligations for future commitments to the Foundation.

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

NOTE R – Selected Quarterly Financial Data (Unaudited)

The following table presents our selected unaudited quarterly statements of comprehensive income data (in thousands, except per share amounts):

	For the Three Months Ended
2019	Dec 31		Sep 30		Jun 30		Mar 31
Revenues	$	72,733	$	70,928	$	68,529	$	66,934
Gross profit		48,824		47,665		44,829		45,567
Income from operations		10,764		10,933		9,330		7,379
Net income		9,162		8,941		8,796		6,813
Diluted earnings per share	$	0.25	$	0.25	$	0.25	$	0.19

	For the Three Months Ended
2018	Dec 31		Sep 30		Jun 30		Mar 31
Revenues	$	65,189	$	62,868	$	61,091	$	59,092
Gross profit		44,012		42,457		40,689		39,334
Income from operations		8,209		8,257		5,965		4,300
Net income		7,141		8,061		5,416		3,254
Diluted earnings per share	$	0.21	$	0.23	$	0.15	$	0.09

General (Policies)

12 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Business Description

Basis of Presentation

Foreign Currency Translation

Use of Estimates

Business Combinations

Segment Information

We operate in and report on one segment, which is supply chain management solutions.

Risk and Uncertainties

Concentration of Credit Risk

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and highly liquid investments with original maturities of less than 90 days. Cash and cash equivalents are stated at fair value.

Investments

Fair Value of Other Financial Instruments

Accounts Receivable

Property and Equipment

Computer equipment and software: 2 to 3 years

Office equipment and furniture: 5 to 7 years

Leasehold improvements: the shorter of the useful life of the asset or the remaining term of the lease

Significant additions or improvements extending asset lives beyond one year are capitalized, while repairs and maintenance are charged to expense as incurred.

Leases

Research and Development

Research and development costs primarily include maintenance and data conversion activities related to our cloud-based supply chain management solutions and are expensed as incurred.

Goodwill

Intangible Assets

Third Party Implementation Assets

Third party implementation costs are capitalized assets included in Other Assets and relate to implementation costs incurred for software hosting arrangements.

Impairment of Long-Lived Assets

Revenue Recognition

We determine revenue recognition through the following steps:

Identification of the contract, or contracts, with a customer

Identification of the performance obligations in the contract

Determination of the transaction price

Allocation of the transaction price to the performance obligations in the contract

Recognition of revenue when, or as, we satisfy a performance obligation

See Note C for further descriptions of our revenue recognition policy.

Deferred Costs

Stock-Based Compensation

Income Taxes

Net Income Per Share

Recently Adopted Accounting Pronouncements

Standard

Date of Issuance

Description

Date Adopted

Effect on the Financial Statements

ASU 2016-02, Leases and all related amendments

February

2016

January

2019

ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220)

February

2018

January

2019

The adoption of this standard did not have a material impact on our consolidated financial statements.

Accounting Pronouncements Not Yet Adopted

Standard	Date of Issuance	Description	Date of Required Adoption	Effect on the Financial Statements
ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements	June 2016	The amendment in this update replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses on instruments within its scope, including trade receivables. This update is intended to provide financial statement users with more decision-useful information about the expected credit losses.	January 2020	We have evaluated the requirements of this standard on our financial assets and have concluded that the adoption of this ASU, beginning January 1, 2020, will not have a material impact on our consolidated financial statements.
ASU 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement	August 2018	This ASU adds, modifies and removes several disclosure requirements relative to the three levels of inputs used to measure fair value in accordance with Topic 820, Fair Value Measurement.	January 2020	The adoption of this standard will not have a material impact on our consolidated financial statements.
ASU 2017-04, Intangibles - Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment	January 2017	This amendment eliminates Step 2 from the goodwill impairment test.	January 2020	The adoption of this standard will not have a material impact on our consolidated financial statements.

Business Acquisitions (Tables) - MAPADOC [Member]

12 Months Ended

Dec. 31, 2019

Business Acquisition [Line Items]

Estimated Fair Values of Assets Acquired and Liabilities Assumed at Acquisition Date

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

Current assets	$	659
Goodwill		6,372
Intangible assets		5,000
Deferred revenue		(225	)
	$	11,806

Estimated Fair Value of Purchased Intangible Assets and Estimated Useful Lives

The following table summarizes the estimated fair value of the purchased intangible assets and their estimated useful lives:

	Estimated		Estimated
	Fair Value		Life
Purchased Intangible Assets	(in thousands)		(in years)
Developed technology	$	3,600		8
Subscriber relationships		1,400		8
	$	5,000

Revenue (Tables)

12 Months Ended

Dec. 31, 2019

Revenue From Contract With Customer [Abstract]

Summary of Revenues by Revenue Stream

We derive our revenues primarily from the following revenue streams (in thousands):

	Year Ended December 31,
	2019		2018		2017
Recurring revenues:
Fulfillment	$	219,297	$	190,783	$	164,682
Analytics		37,038		34,447		34,260
Other		5,671		5,424		4,978
Recurring Revenues		262,006		230,654		203,920
One-time revenues		17,118		17,586		16,165
	$	279,124	$	248,240	$	220,085

Summary of Deferred Revenue Liability Relating to Set-Up Fees

The table below presents the activity of the portion of the deferred revenue liability relating to set-up fees (in thousands):

	Year Ended December 31,
	2019			2018
Balances, at beginning of the year	$	9,857		$	10,031
Invoiced set-up fees		11,056			10,271
Amortized set-up fees		(10,395	)		(10,445	)
Balances, at end of the year	$	10,518		$	9,857

Deferred Costs (Tables)

12 Months Ended

Dec. 31, 2019

Deferred Costs [Abstract]

Summary of Deferred Costs and Amortization of Deferred Costs

The table below presents the activity of deferred costs and amortization of deferred costs (in thousands):

	Year Ended December 31,
	2019			2018
Balances, at beginning of the year	$	45,475		$	39,933
Incurred deferred costs		49,883			49,583
Amortized deferred costs		(48,417	)		(44,041	)
Balances, at end of the year	$	46,941		$	45,475

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Financial Instruments Owned At Fair Value [Abstract]

Summary of Cash Equivalents and Short-term Investments

Cash equivalents and short-term investments consisted of the following (in thousands):

	December 31,
	2019						2018
	Amortized		Unrealized		Fair		Amortized		Unrealized		Fair
	Cost		Gains, net		Value		Cost		Gains, net		Value
Cash equivalents:
Money market funds	$	151,266	$	—	$	151,266	$	109,265	$	—	$	109,265
Certificate of deposit		7,030		—		7,030		7,000		—		7,000
Marketable securities:
Corporate bonds		9,785		20		9,805		15,194		40		15,234
Commercial paper		7,503		—		7,503		9,889		76		9,965
U.S. treasury securities		9,855		91		9,946		12,300		38		12,338
	$	185,439	$	111	$	185,550	$	153,648	$	154	$	153,802
Due within one year					$	185,550					$	153,802
Total					$	185,550					$	153,802

Summary of Financial Assets Measured at Fair Value on a Recurring Basis

	Level 1		Level 2		Level 3		Total
Assets at December 31, 2019:
Cash equivalents:
Money market funds	$	151,266	$	—	$	—	$	151,266
Certificate of deposit		7,030		—		—		7,030
Marketable securities:
Corporate bonds		—		9,805		—		9,805
Commercial paper		—		7,503		—		7,503
U.S. treasury securities		—		9,946		—		9,946
	$	158,296	$	27,254	$	—	$	185,550

Liabilities at December 31, 2019:
Earn-out liability	$	—	$	—	$	405	$	405
	$	—	$	—	$	405	$	405

Assets at December 31, 2018:
Cash equivalents:
Money market funds	$	109,265	$	—	$	—	$	109,265
Certificate of deposit		7,000		—		—		7,000
Marketable securities:
Corporate bonds		—		15,234		—		15,234
Commercial paper		—		9,965		—		9,965
U.S. treasury securities		—		12,338		—		12,338
	$	116,265	$	37,537	$	—	$	153,802

Liabilities at December 31, 2018:
Earn-out liability	$	—	$	—	$	1,368	$	1,368
	$	—	$	—	$	1,368	$	1,368

Allowance for Doubtful Accounts (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Schedule of Allowance for Doubtful Activity Included in Accounts Receivable Net

The allowance for doubtful accounts activity, included in accounts receivable, net, was as follows (in thousands):

	2019			2018			2017
Balance, January 1	$	1,392		$	763		$	515
Provision for doubtful accounts		3,499			2,590			1,705
Write-offs, net of recoveries		(3,422	)		(1,961	)		(1,457	)
Balance, December 31	$	1,469		$	1,392		$	763

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2019

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment, Net

Property and equipment, net included the following (in thousands):

	December 31,
	2019			2018
Computer equipment and software	$	54,030		$	44,781
Office equipment and furniture		9,205			7,985
Leasehold improvements		11,091			9,366
		74,326			62,132
Less: accumulated depreciation and amortization		(50,574	)		(41,175	)
	$	23,752		$	20,957

Goodwill and Intangible Assets, net (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Changes in Net Carrying Amount of Goodwill

The changes in the net carrying amount of goodwill for the years ended December 31, 2019 and 2018 are as follows (in thousands):

	2019		2018
Balance, January 1	$	69,658	$	51,613
Additions from business acquisitions		6,372		20,272
Foreign currency translation		815		(2,227	)
Balance, December 31	$	76,845	$	69,658

Intangible Assets

Intangible assets, net included the following (in thousands):

	December 31, 2019
	Carrying Amount		Accumulated Amortization			Foreign Currency Translation		Net
Subscriber relationships	$	43,640	$	(27,287	)	$	214	$	16,567
Non-competition agreements		2,495		(2,371	)		10		134
Technology		8,602		(2,643	)		8		5,967
	$	54,737	$	(32,301	)	$	232	$	22,668

	December 31, 2018
	Carrying Amount		Accumulated Amortization			Foreign Currency Translation			Net
Subscriber relationships	$	43,212	$	(23,284	)	$	(623	)	$	19,305
Non-competition agreements		2,560		(2,247	)		(28	)		285
Technology		5,199		(2,012	)		(36	)		3,151
	$	50,971	$	(27,543	)	$	(687	)	$	22,741

Estimated Annual Amortization Expense Related to Intangible Assets Subject to Amortization

The estimated annual amortization expense related to intangible assets subject to amortization for the next five years and thereafter is as follows (in thousands):

2020	$	5,359
2021		4,518
2022		3,415
2023		3,342
2024		2,101
Thereafter		3,933
	$	22,668

Other Assets (Tables)

12 Months Ended

Dec. 31, 2019

Other Assets [Abstract]

Summary of Changes in Net Amount of Capitalized Implementation Costs for Software Hosting Arrangements

The changes in the net amount of capitalized implementation costs for software hosting arrangements for the years ended December 31, 2019 and 2018 are as follows (in thousands):

	2019			2018
Balance, January 1	$	455		$	—
Capitalized implementation fees		797			455
Amortization of implementation fees		(86	)		—
Balance, December 31	$	1,166		$	455

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Summary of Non-Cancellable Operating Leases, Primarily for Office Space and Certain Equipment

We are obligated under non-cancellable operating leases, primarily for office space and certain equipment, as follows:

	December 31, 2019
	Remaining Term		Right-of-Use Asset
	(in years)		(in thousands)
Minneapolis, MN lease		5	$	10,704
Kiev, Ukraine lease		5		2,316
Little Falls, NJ lease		4		1,574
Other leases	<1 - 5			1,150
			$	15,744

Components of Lease Expense

The components of lease expense were as follows (in thousands):

	Year Ended
	December 31, 2019
Operating lease cost	$	2,569
Variable lease cost		3,390
	$	5,959

Schedule of Rent Expense Under Operating Leases

Rent expense for all operating leases, which includes minimum lease payments and other charges such as common area maintenance fees, charged to operations was as follows (in millions):

	Year Ended December 31,
	2018		2017
Rent expense	$	5,577	$	4,941

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows (in thousands):

	Year Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	4,383
ROU assets obtained in exchange for operating lease liabilities	$	2,537

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

	December 31, 2019
Weighted-average remaining lease term - operating leases	5.0 years
Weighted-average discount rate - operating leases		4.5	%

Schedule of Future Minimum Payments Under Operating Leases

At December 31, 2019, our future minimum payments under operating leases were as follows (in thousands):

2020	$	4,595
2021		5,600
2022		5,091
2023		4,903
2024		4,651
Thereafter		1,604
		26,444
Less: imputed interest		(2,576	)
	$	23,868

Schedule of Future Minimum Payments Under Operating Leases

At December 31, 2018, our future minimum payments under operating leases were as follows (in thousands):

2019	$	4,209
2020		3,542
2021		4,414
2022		4,042
2023		3,854
Thereafter		4,817
	$	24,878

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Stock-Based Compensation Expense

Stock-based compensation expense was allocated as follows (in thousands):

	Year Ended December 31,
	2019		2018		2017
Cost of revenues	$	2,819	$	2,168	$	1,887
Operating expenses
Sales and marketing		2,946		2,675		2,197
Research and development		2,651		1,505		949
General and administrative		6,274		6,162		7,694
Total stock-based compensation expense	$	14,690	$	12,510	$	12,727

Stock-based compensation expense by type was as follows (in thousands):

	Year Ended December 31,
	2019		2018		2017
Stock Options	$	3,211	$	3,355	$	5,223
Performance Share Units		1,379		1,034		—
Restricted Stock Units		7,553		5,930		6,526
Restricted Stock Awards		519		487		318
Employee Stock Purchase Plan		701		466		660
401K Stock Match		1,327		1,238		—
Total stock-based compensation expense	$	14,690	$	12,510	$	12,727

Stock Option Activity

Our stock option activity was as follows:

				Weighted Average
	Options			Exercise Price
	(#)			($/share)
Outstanding at December 31, 2016		2,032,024			22.36
Granted		345,394			27.94
Exercised		(131,004	)		10.77
Forfeited		(51,752	)		27.97
Outstanding at December 31, 2017		2,194,662			23.80
Granted		362,944			29.94
Exercised		(688,668	)		20.83
Forfeited		(122,470	)		28.34
Outstanding at December 31, 2018		1,746,468			25.93
Granted		184,434			53.92
Exercised		(346,098	)		21.98
Forfeited		(40,892	)		30.74
Outstanding at December 31, 2019		1,543,912			30.03

Summary of Intrinsic Value of Options Exercised and Outstanding

The table below presents the intrinsic value of options exercised and outstanding and factors related to our stock options (in thousands, except per share data):

	Year Ended December 31,
	2019		2018		2017
Fair value of options vested	$	3,393	$	3,689	$	4,227
Intrinsic value of options exercised		11,103		14,852		2,752
Intrinsic value of options outstanding		39,194		26,654		7,312
Weighted-average fair value per share of options granted		16.86		9.74		9.43

Weighted Average Fair Value Per Share of Options Granted, Assumptions

The fair values of the options granted were estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

	Year Ended December 31,
	2019			2018			2017
Volatility		33	%		35	%		38	%
Dividend yield		—			—			—
Life (in years)		4.43			4.44			4.51
Risk-free interest rate		2.41	%		2.54	%		1.85	%

Summary of ESPP Activity

Our ESPP activity was as follows (in thousands, except share data):

	Year Ended December 31,
	2019		2018		2017
Withholdings for share purchases	$	2,270	$	1,745	$	1,933
Shares purchased		58,851		69,596		81,936

Fair Value Estimation of Common Stock Using Black-Scholes Option Pricing Model, Weighted-Average Assumptions

	Year Ended December 31,
	2019			2018			2017
Volatility		36	%		26	%		32	%
Dividend yield		—			—			—
Life (in years)		0.50			0.50			0.50
Risk-free interest rate		2.36	%		1.77	%		0.90	%

PSUs and RSUs [Member]

PSUs and RSUs and Restricted Stock Awards

Our PSU and RSU activity was as follows:

				Weighted Average
	PSUs and RSUs			Grant Date Fair
	(#)			Value ($/share)
Outstanding at December 31, 2016		378,084			27.07
Granted		422,336			27.81
Vested and common stock issued		(129,900	)		26.82
Forfeited		(26,696	)		27.70
Outstanding at December 31, 2017		643,824			27.58
Granted		345,590			33.02
Vested and common stock issued		(163,122	)		28.16
Forfeited		(71,622	)		27.52
Outstanding at December 31, 2018		754,670			29.95
Granted		278,622			55.83
Vested and common stock issued		(206,380	)		30.20
Forfeited		(31,826	)		34.67
Outstanding at December 31, 2019		795,086			38.76

Restricted Stock Award [Member]

PSUs and RSUs and Restricted Stock Awards

Our RSA activity was as follows:

				Weighted Average
	RSAs			Grant Date Fair
	(#)			Value ($/share)
Outstanding at December 31, 2016		3,048			26.14
Restricted common stock issued		10,908			29.15
Restrictions lapsed		(11,220	)		28.33
Outstanding at December 31, 2017		2,736			29.15
Restricted common stock issued		14,608			37.22
Restrictions lapsed		(13,680	)		35.60
Outstanding at December 31, 2018		3,664			37.22
Restricted common stock issued		9,840			51.80
Restrictions lapsed		(11,044	)		46.96
Outstanding at December 31, 2019		2,460			51.80

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

Our provisions for income taxes included current federal, foreign and state income tax expense, as well as deferred tax expense as follows (in thousands):

	Year Ended December 31,
	2019			2018			2017
Current
Federal	$	—		$	—		$	(184	)
State		599			1,103			258
Foreign		169			540			652
Deferred
Federal		6,595			3,011			10,262
State		1,156			224			(291	)
Foreign		(161	)		(410	)		(355	)
	$	8,358		$	4,468		$	10,342

Reconciliation of the Provision for Income Taxes to the Statutory Federal Rate

A reconciliation of the expected federal income tax at the statutory rate to the provision for income taxes was as follows (in thousands):

	Year Ended December 31,
	2019			2018			2017
Expected federal income tax at statutory rate	$	8,835		$	5,951		$	3,635
State income taxes, net of federal tax effect		1,933			1,293			417
Tax impact of foreign activity		(108	)		57			(105	)
Nondeductible executive compensation		940			902			530
Nondeductible expenses		329			351			268
Change in valuation allowance		—			(4	)		16
Change in state deferred rate		47			38			(134	)
Research and development credit		(1,252	)		(1,843	)		(227	)
Tax impact of Tax Cuts and Jobs Act		—			—			6,796
Tax impact of stock activity		(2,518	)		(2,438	)		(925	)
Other		152			161			71
Total provision for income taxes	$	8,358		$	4,468		$	10,342

Significant Components of Deferred Tax Assets (Liabilities)

The significant components of our deferred tax assets (liabilities) were as follows (in thousands):

	December 31,
	2019						2018
Deferred tax assets
Net operating loss and credit carryforwards	$	9,122					$	8,356
Stock-based compensation expense		3,944						3,647
Accounts receivable allowances		496						464
Accrued expenses		2,916						3,185
Other		9						180
Gross deferred tax assets					16,487						15,832
Less: valuation allowance		(1,068	)					(797	)
Total net deferred tax assets					15,419						15,035
Deferred tax liabilities
Deferred operations		(8,820	)					(2,787	)
Foreign operations		(144	)					(135	)
Depreciation and amortization		(4,975	)					(2,943	)
Other		(43	)					(90	)
Total deferred tax liabilities					(13,982	)					(5,955	)
Net deferred tax assets				$	1,437					$	9,080

Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Components of Computation of Basic and Diluted Net Income Per Share

The following table presents the components of the computation of basic and diluted net income per share for the periods indicated (in thousands, except per share amounts):

	Year Ended December 31,
	2019		2018		2017
Numerator
Net income	$	33,712	$	23,872	$	351
Denominator
Weighted average common shares outstanding, basic		35,024		34,392		34,366
Options to purchase common stock		680		612		300
PSUs, RSUs and RSAs		298		208		46
Weighted average common shares outstanding, diluted		36,002		35,212		34,712
Net income per share
Basic	$	0.96	$	0.69	$	0.01
Diluted	$	0.94	$	0.68	$	0.01

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summary of Unaudited Quarterly Statements of Comprehensive Income Data

The following table presents our selected unaudited quarterly statements of comprehensive income data (in thousands, except per share amounts):

	For the Three Months Ended
2019	Dec 31		Sep 30		Jun 30		Mar 31
Revenues	$	72,733	$	70,928	$	68,529	$	66,934
Gross profit		48,824		47,665		44,829		45,567
Income from operations		10,764		10,933		9,330		7,379
Net income		9,162		8,941		8,796		6,813
Diluted earnings per share	$	0.25	$	0.25	$	0.25	$	0.19

	For the Three Months Ended
2018	Dec 31		Sep 30		Jun 30		Mar 31
Revenues	$	65,189	$	62,868	$	61,091	$	59,092
Gross profit		44,012		42,457		40,689		39,334
Income from operations		8,209		8,257		5,965		4,300
Net income		7,141		8,061		5,416		3,254
Diluted earnings per share	$	0.21	$	0.23	$	0.15	$	0.09

General - Additional Information (Detail) $ in Thousands				12 Months Ended
General - Additional Information (Detail) $ in Thousands	Aug. 22, 2019	Aug. 22, 2019	Aug. 08, 2019	Dec. 31, 2019 USD ($) Segment	Jan. 01, 2019 USD ($)
Schedule Of Accounting Policies [Line Items]
Stock split ratio	2	2	2
Percentage of stock dividend from stock split			100.00%
Number of reportable segments \| Segment				1
Deferred commission expected amortization period				2 years
Operating leases, right of use assets				$ 15,744
Operating leases, lease liabilities				$ 23,868
ASU 2016-02 [Member]
Schedule Of Accounting Policies [Line Items]
Operating leases, right of use assets					$ 15,700
Operating leases, lease liabilities					$ 15,700
Minimum [Member]
Schedule Of Accounting Policies [Line Items]
Hosting services arrangement period				4 years
Minimum [Member] \| Subscriber Relationships [Member]
Schedule Of Accounting Policies [Line Items]
Estimated useful lives of intangible assets				7 years
Minimum [Member] \| Non-competition Agreements [Member]
Schedule Of Accounting Policies [Line Items]
Estimated useful lives of intangible assets				3 years
Minimum [Member] \| Technology [Member]
Schedule Of Accounting Policies [Line Items]
Estimated useful lives of intangible assets				3 years
Maximum [Member]
Schedule Of Accounting Policies [Line Items]
Hosting services arrangement period				6 years
Maximum [Member] \| Subscriber Relationships [Member]
Schedule Of Accounting Policies [Line Items]
Estimated useful lives of intangible assets				10 years
Maximum [Member] \| Non-competition Agreements [Member]
Schedule Of Accounting Policies [Line Items]
Estimated useful lives of intangible assets				5 years
Maximum [Member] \| Technology [Member]
Schedule Of Accounting Policies [Line Items]
Estimated useful lives of intangible assets				10 years
Computer Equipment and Software [Member] \| Minimum [Member]
Schedule Of Accounting Policies [Line Items]
Estimated useful lives of property and equipment				2 years
Computer Equipment and Software [Member] \| Maximum [Member]
Schedule Of Accounting Policies [Line Items]
Estimated useful lives of property and equipment				3 years
Office Equipment and Furniture [Member] \| Minimum [Member]
Schedule Of Accounting Policies [Line Items]
Estimated useful lives of property and equipment				5 years
Office Equipment and Furniture [Member] \| Maximum [Member]
Schedule Of Accounting Policies [Line Items]
Estimated useful lives of property and equipment				7 years

Business Acquisitions - Additional Information (Detail)						12 Months Ended
Business Acquisitions - Additional Information (Detail)	Aug. 22, 2019	Aug. 22, 2019	Aug. 08, 2019	Dec. 18, 2018 USD ($) shares	Oct. 03, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Aug. 26, 2019 USD ($)
Business Acquisition [Line Items]
Amortization expense for purchased intangible assets						$ 5,315,000	$ 4,093,000	$ 4,574,000
Stock issued for acquisition							$ 3,371,000
Stock split description						two-for-one stock split
Stock split ratio	2	2	2
MAPADOC [Member]
Business Acquisition [Line Items]
Total purchase price									$ 11,806,000
Amortization expense for purchased intangible assets						$ 200,000
E D I Admin [Member]
Business Acquisition [Line Items]
Payments to acquire business					$ 7,500,000
Maximum payout of contingent consideration					$ 1,700,000
Payment on completion of revenue milestone						500,000
Fair value of contingent consideration						400,000
E D I Admin [Member] \| Contingent Consideration Liability [Member]
Business Acquisition [Line Items]
Other income						$ 400,000
CovalentWorks [Member]
Business Acquisition [Line Items]
Payments to acquire business				$ 19,400,000
Stock issued for acquisition				$ 3,400,000
Stock issued for acquisition, Shares \| shares				80,956
Stock split description						two-for-one stock split
Stock split ratio				2

Business Acquisitions - Estimated Fair Values of Assets Acquired and Liabilities Assumed at Acquisition Date (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Aug. 26, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Goodwill	$ 76,845		$ 69,658	$ 51,613
MAPADOC [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Current assets		$ 659
Goodwill		6,372
Intangible assets		5,000
Deferred revenue		(225)
Total purchase price		$ 11,806

Business Acquisitions - Estimated Fair Value of Purchased Intangible Assets and Estimated Useful Lives (Detail) $ in Thousands	Aug. 26, 2019 USD ($)
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 5,000
MAPADOC [Member] \| Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 3,600
Estimated Life (in years)	8 years
MAPADOC [Member] \| Subscriber Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 1,400
Estimated Life (in years)	8 years

Revenue - Summary of Revenues by Revenue Stream (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue Recognition [Line Items]
Revenues	$ 72,733	$ 70,928	$ 68,529	$ 66,934	$ 65,189	$ 62,868	$ 61,091	$ 59,092	$ 279,124	$ 248,240	$ 220,085
Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues									262,006	230,654	203,920
One-time Revenues [Member]
Revenue Recognition [Line Items]
Revenues									17,118	17,586	16,165
Fulfillment [Member] \| Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues									219,297	190,783	164,682
Analytics [Member] \| Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues									37,038	34,447	34,260
Other [Member] \| Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues									$ 5,671	$ 5,424	$ 4,978

Revenue - Additional Information (Detail)	12 Months Ended
Revenue - Additional Information (Detail)	Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Latest timing of billings	30 days
Estimated period for material rights present to customers	2 years
Set up fees recognized period	2 years
Maximum recognition period for miscellaneous one-time fee	1 year
Analytics Solution [Member]
Disaggregation Of Revenue [Line Items]
Set up fees recognized period	1 year
Minimum [Member]
Disaggregation Of Revenue [Line Items]
Customer contract cancellation period	30 days
Current amount recognition period of set up fees	1 month
Long term amount recognition period of set up fees	13 months
Maximum [Member]
Disaggregation Of Revenue [Line Items]
Customer contract cancellation period	90 days
Deferred revenue recognition period	1 year
Contract period for remaining performance obligations for contracts in which the optional exemption under ASC 606-10-50-14(a) was applied	1 year
Current amount recognition period of set up fees	12 months
Long term amount recognition period of set up fees	24 months

Revenue - Summary of Deferred Revenue Liability Relating to Set-Up Fees (Detail) - Set-Up Fees [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Deferred Revenue Arrangement [Line Items]
Balances, at beginning of the year	$ 9,857	$ 10,031
Invoiced set-up fees	11,056	10,271
Amortized set-up fees	(10,395)	(10,445)
Balances, at end of the year	$ 10,518	$ 9,857

Deferred Costs - Additional Information (Detail)	12 Months Ended
Deferred Costs - Additional Information (Detail)	Dec. 31, 2019
Deferred Costs [Abstract]
Deferred commission expected amortization period	2 years
Deferred customer implementation costs expected amortization period	2 years

Deferred Costs - Summary of Deferred Costs and Amortization of Deferred Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Deferred Costs [Abstract]
Balances, at beginning of the year	$ 45,475	$ 39,933
Incurred deferred costs	49,883	49,583
Amortized deferred costs	(48,417)	(44,041)
Balances, at end of the year	$ 46,941	$ 45,475

Financial Instruments - Summary of Cash Equivalents and Short-term Investments (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financial Instruments [Member]
Schedule of Financial Instruments [Line Items]
Due within one year	$ 185,550	$ 153,802
Amortized Cost	185,439	153,648
Unrealized Gains, net	111	154
Fair Value	185,550	153,802
Money Market Funds [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	151,266	109,265
Fair Value	151,266	109,265
Certificate of Deposit [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	7,030	7,000
Fair Value	7,030	7,000
Corporate Bonds [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	9,785	15,194
Unrealized Gains, net	20	40
Fair Value	9,805	15,234
Commercial Paper [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	7,503	9,889
Unrealized Gains, net		76
Fair Value	7,503	9,965
U.S. Treasury Securities [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	9,855	12,300
Unrealized Gains, net	91	38
Fair Value	$ 9,946	$ 12,338

Financial Instruments - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Oct. 03, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Earn-out liability expected to be paid on completion of revenue milestones	$ 500,000
Fair value, assets, level 1 to level 2 transfers, amount	0	$ 0
Fair value, assets, level 2 to level 1 transfers, amount	0	0
Fair value, liabilities, level 1 to level 2 transfers, amount	0	0
Fair value, liabilities, level 2 to level 1 transfers, amount	0	0
Fair value, asset transfers into level 3	0	0
Fair value, asset, transfers out of level 3	0	0
Fair value, liability, transfers into level 3	0	0
Fair value, liability, transfers out of level 3	0	$ 0
Accrued Expenses [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration transferred out of the fair value hierarchy from level 3	500,000
E D I Admin [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maximum payout of contingent consideration			$ 1,700,000
E D I Admin [Member] \| Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maximum payout of contingent consideration			$ 1,700,000
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unrealized loss	$ (100,000)

Financial Instruments - Summary of Financial Assets Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	$ 185,550	$ 153,802
Liabilities fair value	405	1,368
Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	151,266	109,265
Certificate of Deposit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	7,030	7,000
Corporate Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	9,805	15,234
Commercial Paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	7,503	9,965
U.S. Treasury Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	9,946	12,338
Earn-out Liability [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities fair value	405	1,368
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	158,296	116,265
Level 1 [Member] \| Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	151,266	109,265
Level 1 [Member] \| Certificate of Deposit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	7,030	7,000
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	27,254	37,537
Level 2 [Member] \| Corporate Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	9,805	15,234
Level 2 [Member] \| Commercial Paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	7,503	9,965
Level 2 [Member] \| U.S. Treasury Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	9,946	12,338
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities fair value	405	1,368
Level 3 [Member] \| Earn-out Liability [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities fair value	$ 405	$ 1,368

Allowance for Doubtful Accounts - Schedule of Allowance for Doubtful Activity Included in Accounts Receivable Net (Detail) - Allowance for Doubtful Accounts [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance, January 1	$ 1,392	$ 763	$ 515
Provision for doubtful accounts	3,499	2,590	1,705
Write-offs, net of recoveries	(3,422)	(1,961)	(1,457)
Balance, December 31	$ 1,469	$ 1,392	$ 763

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 74,326	$ 62,132
Less: accumulated depreciation and amortization	(50,574)	(41,175)
Net, Total	23,752	20,957
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	54,030	44,781
Office Equipment and Furniture [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	9,205	7,985
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 11,091	$ 9,366

Property and Equipment, net - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues From External Customers And Long Lived Assets [Line Items]
Depreciation and amortization of property and equipment	$ 11,123	$ 8,593	$ 7,208
Outside of U.S [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Property and equipment, net held at subsidiary and office locations outside of the U.S.	$ 2,000	$ 1,700

Goodwill and Intangible Assets, net - Schedule of Changes in Net Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Balance, January 1	$ 69,658	$ 51,613
Additions from business acquisitions	6,372	20,272
Foreign currency translation	815	(2,227)
Balance, December 31	$ 76,845	$ 69,658

Goodwill and Intangible Assets, net - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill impairment losses	$ 0

Goodwill and Intangible Assets, net - Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 54,737	$ 50,971
Accumulated Amortization	(32,301)	(27,543)
Foreign Currency Translation	232	(687)
Net	22,668	22,741
Subscriber Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	43,640	43,212
Accumulated Amortization	(27,287)	(23,284)
Foreign Currency Translation	214	(623)
Net	16,567	19,305
Non-competition Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,495	2,560
Accumulated Amortization	(2,371)	(2,247)
Foreign Currency Translation	10	(28)
Net	134	285
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	8,602	5,199
Accumulated Amortization	(2,643)	(2,012)
Foreign Currency Translation	8	(36)
Net	$ 5,967	$ 3,151

Goodwill and Intangible Assets, net - Estimated Annual Amortization Expense Related to Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
2020	$ 5,359
2021	4,518
2022	3,415
2023	3,342
2024	2,101
Thereafter	3,933
Net	$ 22,668	$ 22,741

Other Assets - Summary of Changes in Net Amount of Capitalized Implementation Costs for Software Hosting Arrangements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Capitalized Computer Software Net [Abstract]
Balance, January 1	$ 455
Capitalized implementation fees	797	$ 455
Amortization of implementation fees	(86)
Balance, December 31	$ 1,166	$ 455

Other Assets - Additional Information (Detail)	12 Months Ended
Other Assets - Additional Information (Detail)	Dec. 31, 2019 USD ($)
Capitalized Computer Software Net [Abstract]
Impairment losses on capitalized implementation costs	$ 0

Leases - Summary of Non-Cancellable Operating Leases, Primarily for Office Space and Certain Equipment (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
Lessee Lease Description [Line Items]
Right-of-Use Asset	$ 15,744
Minneapolis, MN Lease [Member]
Lessee Lease Description [Line Items]
Remaining Term (in years)	5 years
Right-of-Use Asset	$ 10,704
Kiev, Ukraine Lease [Member]
Lessee Lease Description [Line Items]
Remaining Term (in years)	5 years
Right-of-Use Asset	$ 2,316
Little Falls, NJ Lease [Member]
Lessee Lease Description [Line Items]
Remaining Term (in years)	4 years
Right-of-Use Asset	$ 1,574
Other Leases [Member]
Lessee Lease Description [Line Items]
Right-of-Use Asset	$ 1,150
Other Leases [Member] \| Minimum [Member]
Lessee Lease Description [Line Items]
Remaining Term (in years)	1 year
Other Leases [Member] \| Maximum [Member]
Lessee Lease Description [Line Items]
Remaining Term (in years)	5 years

Leases - Additional Information (Detail) $ in Millions	1 Months Ended			12 Months Ended
Leases - Additional Information (Detail) $ in Millions	Dec. 31, 2019 USD ($) ft² Option	Dec. 31, 2017 ft² Option	Feb. 29, 2016 ft²	Dec. 31, 2019 USD ($) ft²	Dec. 31, 2020 ft²
Lessee Lease Description [Line Items]
Lease extension period, number of years	5 years			5 years
ASU 2016-02 [Member]
Lessee Lease Description [Line Items]
Transition amount \| $	$ 15.7			$ 15.7
Kiev, Ukraine Lease [Member]
Lessee Lease Description [Line Items]
Lease extension period, number of years	5 years 6 months			5 years 6 months
Number of options to extend term of the lease \| Option	1
Kiev, Ukraine Lease [Member] \| Lease Agreement Expires on May 31, 2025 [Member]
Lessee Lease Description [Line Items]
Current leased space	17,000			17,000
Lease agreement expires, date	May 31, 2025
Kiev, Ukraine Lease [Member] \| Lease Agreement Expires on April 26, 2020 [Member]
Lessee Lease Description [Line Items]
Current leased space	10,000			10,000
Lease agreement expires, date	Apr. 26, 2020
Little Falls, NJ Lease [Member]
Lessee Lease Description [Line Items]
Lease extension period, number of years			5 years
Current leased space			26,000
Lease agreement expires, date			Jun. 30, 2023
Incentives \| $				$ 0.9
Current Headquarters [Member]
Lessee Lease Description [Line Items]
Lease extension period, number of years		5 years
Lease agreement expires, date		Apr. 30, 2025
Number of options to extend term of the lease \| Option		2
Incentives \| $				$ 9.9
Current Headquarters [Member] \| Minneapolis, Minnesota [Member]
Lessee Lease Description [Line Items]
Current leased space		189,000
Current Headquarters [Member] \| Scenario, Forecast [Member] \| Minneapolis, Minnesota [Member]
Lessee Lease Description [Line Items]
Future expansion of headquarters					25,000

Leases - Components of Lease Expense (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating lease cost	$ 2,569
Variable lease cost	3,390
Lease expense	$ 5,959

Leases - Schedule of Rent Expense Under Operating Leases (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Rent expense	$ 5,577	$ 4,941

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 4,383
ROU assets obtained in exchange for operating lease liabilities	$ 2,537

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Detail)	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term - operating leases	5 years
Weighted-average discount rate - operating leases	4.50%

Leases - Schedule of Future Minimum Payments Under Operating Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
2020	$ 4,595
2021	5,600
2022	5,091
2023	4,903
2024	4,651
Thereafter	1,604
Future minimum payments	26,444
Less: imputed interest	(2,576)
Operating lease liability	$ 23,868
2019		$ 4,209
2020		3,542
2021		4,414
2022		4,042
2023		3,854
Thereafter		4,817
Operating leases, total		$ 24,878

Stockholders' Equity - Additional Information (Detail) $ in Thousands						12 Months Ended
	Nov. 02, 2019 USD ($)	Aug. 22, 2019 shares	Aug. 22, 2019	Aug. 08, 2019	Dec. 18, 2018 USD ($) shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 USD ($) shares	Nov. 02, 2017 USD ($)
Schedule Of Stockholders Equity [Line Items]
Stock split ratio		2	2	2
Change in number of common stock, shares authorized \| shares		0
Stock issued for acquisition							$ 3,371
Stock split description						two-for-one stock split
Treasury stock at cost						$ 20,618	$ 19,864	$ 5,815
Common Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Stock issued for acquisition, Shares \| shares							80,956
Stock split description						two-for-one stock split
Stock repurchase program, authorized amount	$ 50,000								$ 50,000
Repurchase of treasury shares \| shares						417,564	579,490	244,294
Stock repurchase program, authorized repurchase amount expired	$ 3,700
Stock repurchase program, period	2 years
Stock repurchase program, available for future repurchases						$ 50,000
CovalentWorks [Member]
Schedule Of Stockholders Equity [Line Items]
Stock split ratio					2
Stock issued for acquisition, Shares \| shares					80,956
Stock issued for acquisition					$ 3,400
Stock split description						two-for-one stock split

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended			12 Months Ended
	Feb. 28, 2019 shares	Feb. 28, 2018	Feb. 28, 2017 shares	Dec. 31, 2019 USD ($) Offering $ / shares shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jan. 31, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant \| shares				12,100,000
Stock-based compensation expense				$ 14,690	$ 12,510	$ 12,727
Unrecognized stock-based compensation expense				$ 18,700
Unrecognized stock-based compensation, expected to be recognized, weighted average period				2 years 6 months
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares reserved for issuance under the plan \| shares				1,900,000
Number of offerings per year \| Offering				2
Maximum [Member] \| Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price as a percentage of fair market value				85.00%
Chief Executive Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense						3,600
Equity Incentive Plan [Member] \| 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares reserved for issuance under the plan \| shares	2,081,488		2,049,736				2,055,240
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 3,211	3,355	5,223
Vesting period				4 years
Stock options exercisable \| shares				1,160,714
Weighted average exercise price \| $ / shares				$ 27.23
Weighted average remaining contractual life				3 years 7 months 6 days
Stock Options [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options contractual term range				7 years
Stock Options [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options contractual term range				10 years
PSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years	3 years	3 years
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 7,553	5,930	6,526
Vesting period				4 years
Restricted Stock Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 519	$ 487	$ 318
Restricted stock awards units restrictions lapse, period				1 year
PSU's and RSU's [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSU's vested and not issued during the period \| shares				124,786

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 14,690	$ 12,510	$ 12,727
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	3,211	3,355	5,223
Performance Share Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Performance Share Units	1,379	1,034
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	7,553	5,930	6,526
Restricted Stock Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	519	487	318
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	701	466	660
401(k) Stock Match [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,327	1,238
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	2,819	2,168	1,887
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	2,946	2,675	2,197
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	2,651	1,505	949
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 6,274	$ 6,162	$ 7,694

Stock-Based Compensation - Stock Option Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options Outstanding, Beginning balance	1,746,468	2,194,662	2,032,024
Options, Granted	184,434	362,944	345,394
Options, Exercised	(346,098)	(688,668)	(131,004)
Options, Forfeited	(40,892)	(122,470)	(51,752)
Options Outstanding, Ending balance	1,543,912	1,746,468	2,194,662
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 25.93	$ 23.80	$ 22.36
Weighted Average Exercise Price, Granted	53.92	29.94	27.94
Weighted Average Exercise Price, Exercised	21.98	20.83	10.77
Weighted Average Exercise Price, Forfeited	30.74	28.34	27.97
Weighted Average Exercise Price, Outstanding, Ending Balance	$ 30.03	$ 25.93	$ 23.80

Stock-Based Compensation - Summary of Intrinsic Value of Options Exercised and Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Fair value of options vested	$ 3,393	$ 3,689	$ 4,227
Intrinsic value of options exercised	11,103	14,852	2,752
Intrinsic value of options outstanding	$ 39,194	$ 26,654	$ 7,312
Weighted-average fair value per share of options granted	$ 16.86	$ 9.74	$ 9.43

Stock-Based Compensation - Weighted Average Fair Value Per Share of Options Granted, Assumptions (Detail) - Stock Options [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	33.00%	35.00%	38.00%
Dividend yield	0.00%	0.00%	0.00%
Life (in years)	4 years 5 months 4 days	4 years 5 months 8 days	4 years 6 months 3 days
Risk-free interest rate	2.41%	2.54%	1.85%

Stock-Based Compensation - PSUs and RSUs (Detail) - PSU's and RSU's [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, Outstanding, Beginning Balance	754,670	643,824	378,084
Granted, stock units	278,622	345,590	422,336
Vested and common stock issued, stock units	(206,380)	(163,122)	(129,900)
Forfeited, stock units	(31,826)	(71,622)	(26,696)
Stock awards, Outstanding, Ending Balance	795,086	754,670	643,824
Weighted average grant date fair value, Outstanding, Beginning Balance	$ 29.95	$ 27.58	$ 27.07
Granted, Weighted Average Grant Date Fair Value	55.83	33.02	27.81
Vested and common stock issued, Weighted Average Grant Date Fair Value	30.20	28.16	26.82
Forfeited, Weighted Average Grant Date Fair Value	34.67	27.52	27.70
Weighted average grant date fair value, Outstanding, Ending Balance	$ 38.76	$ 29.95	$ 27.58

Stock-Based Compensation - Restricted Stock Awards (Detail) - Restricted Stock Award [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, Outstanding, Beginning Balance	3,664	2,736	3,048
Restricted common stock issued, stock awards	9,840	14,608	10,908
Restrictions lapsed, stock awards	(11,044)	(13,680)	(11,220)
Stock awards, Outstanding, Ending Balance	2,460	3,664	2,736
Weighted average grant date fair value, Outstanding, Beginning Balance	$ 37.22	$ 29.15	$ 26.14
Restricted common stock issued, Weighted Average Grant Date Fair Value	51.80	37.22	29.15
Restrictions lapsed, Weighted Average Grant Date Fair Value	46.96	35.60	28.33
Weighted average grant date fair value, Outstanding, Ending Balance	$ 51.80	$ 37.22	$ 29.15

Stock-Based Compensation - Summary of ESPP Activity (Detail) - Employee Stock Purchase Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Withholdings for share purchases	$ 2,270	$ 1,745	$ 1,933
Shares purchased	58,851	69,596	81,936

Stock-Based Compensation - Fair Value Estimation of Common Stock Using Black-Scholes Option Pricing Model, Weighted-Average Assumptions (Detail) - Employee Stock Purchase Plan [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	36.00%	26.00%	32.00%
Dividend yield	0.00%	0.00%	0.00%
Life (in years)	6 months	6 months	6 months
Risk-free interest rate	2.36%	1.77%	0.90%

Income Taxes - Schedule of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current
Federal			$ (184)
State	$ 599	$ 1,103	258
Foreign	169	540	652
Deferred
Federal	6,595	3,011	10,262
State	1,156	224	(291)
Foreign	(161)	(410)	(355)
Total provision for income taxes	$ 8,358	$ 4,468	$ 10,342

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Expense Benefit [Line Items]
Reclass of AMT credit carryforward to current federal expense			$ 400,000
Income tax refund	$ 200,000
Unutilized alternative minimum tax credit carryforwards partially refundable year one	2020
Unutilized alternative minimum tax credit carryforwards partially refundable year two	2021
Unutilized alternative minimum tax credit carryforwards fully refundable year	2022
Tax expense related to The Job Cuts and Tax Act (“Tax Act”), primarily due to reduction in corporate tax rate			$ 6,796,000
Corporate federal income tax rate	21.00%	21.00%
Valuation allowance against our deferred tax assets	$ 1,068,000	$ 797,000
Domestic Tax Authority [Member]
Income Tax Expense Benefit [Line Items]
Net operating loss carryforward	$ 34,000,000.0
Expiration of net operating loss carryforwards	loss carryforwards for federal tax purposes will expire between 2020 and 2039 if not utilized
Losses expected to expire unused	$ 17,600,000
Maximum annual limitation	1,000,000.0
Domestic Tax Authority [Member] \| Research and Development [Member]
Income Tax Expense Benefit [Line Items]
Research and development credit carryforwards	$ 4,200,000
Year in which credit carryforward begins to expire	2030
Domestic Tax Authority [Member] \| U.S. Internal Revenue Code [Member]
Income Tax Expense Benefit [Line Items]
Net operating loss carryforward	$ 21,600,000
Operating loss carryforwards subject to maximum annual limitation	4,000,000.0
State and Local Jurisdiction [Member]
Income Tax Expense Benefit [Line Items]
Net operating loss carryforward	$ 3,600,000
Expiration of net operating loss carryforwards	loss carryforwards for state tax purposes will expire between 2021 and 2031 if not utilized
State and Local Jurisdiction [Member] \| Net Operating Loss and Credit Carryforwards [Member]
Income Tax Expense Benefit [Line Items]
Valuation allowance against our deferred tax assets	$ 1,100,000
State and Local Jurisdiction [Member] \| Research and Development [Member]
Income Tax Expense Benefit [Line Items]
Research and development credit carryforwards	$ 1,400,000
Year in which credit carryforward begins to expire	2025

Income Taxes - Reconciliation of Provision for Income Taxes to Statutory Federal Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Expected federal income tax at statutory rate	$ 8,835	$ 5,951	$ 3,635
State income taxes, net of federal tax effect	1,933	1,293	417
Tax impact of foreign activity	(108)	57	(105)
Nondeductible executive compensation	940	902	530
Nondeductible expenses	329	351	268
Change in valuation allowance		(4)	16
Change in state deferred rate	47	38	(134)
Research and development credit	(1,252)	(1,843)	(227)
Tax impact of Tax Cuts and Jobs Act			6,796
Tax impact of stock activity	(2,518)	(2,438)	(925)
Other	152	161	71
Total provision for income taxes	$ 8,358	$ 4,468	$ 10,342

Income Taxes - Significant Components of Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Net operating loss and credit carryforwards	$ 9,122	$ 8,356
Stock-based compensation expense	3,944	3,647
Accounts receivable allowances	496	464
Accrued expenses	2,916	3,185
Other	9	180
Gross deferred tax assets	16,487	15,832
Less: valuation allowance	(1,068)	(797)
Total net deferred tax assets	15,419	15,035
Deferred tax liabilities
Deferred operations	(8,820)	(2,787)
Foreign operations	(144)	(135)
Depreciation and amortization	(4,975)	(2,943)
Other	(43)	(90)
Total deferred tax liabilities	(13,982)	(5,955)
Net deferred tax assets	$ 1,437	$ 9,080

Net Income Per Share - Components of Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator
Net income	$ 9,162	$ 8,941	$ 8,796	$ 6,813	$ 7,141	$ 8,061	$ 5,416	$ 3,254	$ 33,712	$ 23,872	$ 351
Denominator
Weighted average common shares outstanding, basic									35,024	34,392	34,366
Options to purchase common stock									680	612	300
PSUs, RSUs and RSAs									298	208	46
Weighted average common shares outstanding, diluted									36,002	35,212	34,712
Net income per share
Basic									$ 0.96	$ 0.69	$ 0.01
Diluted	$ 0.25	$ 0.25	$ 0.25	$ 0.19	$ 0.21	$ 0.23	$ 0.15	$ 0.09	$ 0.94	$ 0.68	$ 0.01

Net Income Per Share - Additional Information (Detail) shares in Thousands				12 Months Ended
	Aug. 22, 2019	Aug. 22, 2019	Aug. 08, 2019	Dec. 31, 2019 shares	Dec. 31, 2018 shares	Dec. 31, 2017 shares
Net Income Per Share [Abstract]
Stock split description				two-for-one stock split
Stock split ratio	2	2	2
Outstanding potential common shares excluded from calculation of diluted net income (loss) per share				181,000	1,000	566,000

Retirement Savings Plan - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Contribution Pension And Other Postretirement Plans Disclosure [Abstract]
Maximum allowable contribution by employee percentage	80.00%	80.00%	80.00%
Defined benefit plan employer matching contribution percent	50.00%	50.00%
Maximum annual contribution per employee, percent	6.00%
Employer matching contribution amount	$ 3.3	$ 2.9	$ 1.6

Related Party Transactions - Additional Information (Detail) - SPS Commerce Foundation [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Contributions to Foundation	$ 0	$ 700,000	$ 200,000
Legal obligations for future commitments to Foundation	0
Directors of Foundation [Member]
Related Party Transaction [Line Items]
Officers' compensation from Foundation	$ 0

Selected Quarterly Financial Data (Unaudited) - Summary of Unaudited Quarterly Statements of Comprehensive Income Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 72,733	$ 70,928	$ 68,529	$ 66,934	$ 65,189	$ 62,868	$ 61,091	$ 59,092	$ 279,124	$ 248,240	$ 220,085
Gross profit	48,824	47,665	44,829	45,567	44,012	42,457	40,689	39,334	186,885	166,492	146,460
Income from operations	10,764	10,933	9,330	7,379	8,209	8,257	5,965	4,300	38,406	26,731	9,981
Net income	$ 9,162	$ 8,941	$ 8,796	$ 6,813	$ 7,141	$ 8,061	$ 5,416	$ 3,254	$ 33,712	$ 23,872	$ 351
Diluted earnings per share	$ 0.25	$ 0.25	$ 0.25	$ 0.19	$ 0.21	$ 0.23	$ 0.15	$ 0.09	$ 0.94	$ 0.68	$ 0.01

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details