0001564590-20-020182 | 10-Q | XBRL Viewer

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2020	Apr. 24, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	SPSC
Entity Registrant Name	SPS COMMERCE, INC.
Entity Central Index Key	0001092699
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		34,927,767
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
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 Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 184,484	$ 179,252
Short-term investments	30,074	34,284
Accounts receivable	33,275	33,001
Allowance for credit losses	(2,939)	(1,469)
Accounts receivable, net	30,336	31,532
Deferred costs	35,543	35,274
Other assets	9,417	11,279
Total current assets	289,854	291,621
PROPERTY AND EQUIPMENT, less accumulated depreciation of $53,458 and $50,574, respectively	24,035	23,752
OPERATING LEASE RIGHT-OF-USE ASSETS	15,170	15,744
GOODWILL	74,463	76,845
INTANGIBLE ASSETS, net	20,857	22,668
OTHER ASSETS
Deferred costs, non-current	11,393	11,667
Deferred income tax assets	1,837	2,630
Other assets, non-current	2,210	2,513
Total assets	439,819	447,440
CURRENT LIABILITIES
Accounts payable	4,602	4,274
Accrued compensation	13,132	22,303
Accrued expenses	5,374	6,207
Deferred revenue	34,929	31,463
Operating lease liabilities	3,866	3,783
Total current liabilities	61,903	68,030
OTHER LIABILITIES
Deferred revenue, non-current	2,781	2,851
Operating lease liabilities, non-current	18,957	20,085
Deferred income tax liabilities	990	1,193
Other liabilities, non-current		405
Total liabilities	84,631	92,564
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; 36,474,448 and 36,104,619 shares issued; and 34,992,825 and 34,863,271 outstanding, respectively	36	36
Treasury stock, at cost; 1,481,623 and 1,241,348 shares, respectively	(58,297)	(46,297)
Additional paid-in capital	361,853	354,115
Retained earnings	57,419	48,973
Accumulated other comprehensive loss	(5,823)	(1,951)
Total stockholders’ equity	355,188	354,876
Total liabilities and stockholders’ equity	$ 439,819	$ 447,440

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Accumulated depreciation	$ 53,458	$ 50,574
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	36,474,448	36,104,619
Common stock, shares outstanding	34,992,825	34,863,271
Treasury stock, shares	1,481,623	1,241,348

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenues	$ 74,192	$ 66,934
Cost of revenues	23,544	21,367
Gross profit	50,648	45,567
Operating expenses
Sales and marketing	18,299	17,922
Research and development	7,568	6,192
General and administrative	11,909	12,770
Amortization of intangible assets	1,336	1,304
Total operating expenses	39,112	38,188
Income from operations	11,536	7,379
Other income (expense)
Interest income, net	640	577
Other expense, net	(1,241)	(47)
Change in earn-out liability	(72)	(56)
Total other income (expense), net	(673)	474
Income before income taxes	10,863	7,853
Income tax expense	1,348	1,040
Net income	9,515	6,813
Other comprehensive income (expense)
Foreign currency translation adjustments	(3,864)	740
Unrealized gain on investments, net of tax of $24 and $30	71	90
Reclassification of gain on investments into earnings, net of tax of ($26) and ($31)	(79)	(93)
Total other comprehensive income (expense)	(3,872)	737
Comprehensive income	$ 5,643	$ 7,550
Net income per share
Basic	$ 0.27	$ 0.19
Diluted	$ 0.26	$ 0.19
Weighted average common shares used to compute net income per share
Basic	35,072	34,942
Diluted	35,926	35,984

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)
Income Statement [Abstract]
Unrealized gain on investments, tax	$ 24	$ 30
Reclassification of gain on investments into earnings, tax	$ (26)	$ (31)

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]
Beginning balance at Dec. 31, 2018	$ 318,974	$ 36	$ (25,679)	$ 332,574	$ 15,261	$ (3,218)
Beginning balance, shares at Dec. 31, 2018		34,691,472	823,784
Stock-based compensation	4,966			4,966
Exercise of stock options and issuance of restricted stock	2,472			2,472
Exercise of stock options and issuance of restricted stock, shares		316,878
Repurchases of common stock	(2,966)		$ (2,966)
Repurchases of common stock, shares		(67,464)	67,464
Settlement and subsequent return of shares	(300)			(300)
Settlement and subsequent return of shares, shares		(5,522)
Net income	6,813				6,813
Foreign currency translation adjustments	740					740
Unrealized gain (loss) on investments, net of tax	(93)					(93)
Reclassification of (gain) loss on investments into earnings	90					90
Adoption of ASU \| ASU 2018-02	8					8
Ending balance at Mar. 31, 2019	330,704	$ 36	$ (28,645)	339,712	22,074	(2,473)
Ending balance, shares at Mar. 31, 2019		34,935,364	891,248
Beginning balance at Dec. 31, 2019	354,876	$ 36	$ (46,297)	354,115	48,973	(1,951)
Beginning balance, shares at Dec. 31, 2019		34,863,271	1,241,348
Stock-based compensation	3,968			3,968
Exercise of stock options and issuance of restricted stock	3,683			3,683
Exercise of stock options and issuance of restricted stock, shares		367,814
Employee stock purchase plan	87			87
Employee stock purchase plan, shares		2,015
Repurchases of common stock	(12,000)		$ (12,000)
Repurchases of common stock, shares		(240,275)	240,275
Net income	9,515				9,515
Foreign currency translation adjustments	(3,864)					(3,864)
Unrealized gain (loss) on investments, net of tax	71					71
Reclassification of (gain) loss on investments into earnings	(79)					(79)
Adoption of ASU \| ASU 2016-13	(1,069)				(1,069)
Ending balance at Mar. 31, 2020	$ 355,188	$ 36	$ (58,297)	$ 361,853	$ 57,419	$ (5,823)
Ending balance, shares at Mar. 31, 2020		34,992,825	1,481,623

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

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net income	$ 9,515	$ 6,813
Reconciliation of net income to net cash provided by operating activities
Deferred income taxes	668	838
Change in earn-out liability	72	56
Depreciation and amortization of property and equipment	3,138	2,637
Amortization of intangible assets	1,336	1,304
Provision for credit losses	1,285	655
Stock-based compensation	4,344	5,294
Other, net	(105)	(240)
Changes in assets and liabilities
Accounts receivable	(1,053)	(1,328)
Deferred costs	(256)	(414)
Other current and non-current assets	2,041	(337)
Accounts payable	655	353
Accrued compensation	(9,302)	(8,843)
Accrued expenses	(615)	60
Deferred revenue	3,396	3,698
Operating leases	(452)	(345)
Net cash provided by operating activities	14,667	10,201
Cash flows from investing activities
Purchases of property and equipment	(3,965)	(2,899)
Purchases of investments	(12,460)	(12,447)
Maturities of investments	15,875	15,225
Net cash used in investing activities	(550)	(121)
Cash flows from financing activities
Repurchases of common stock	(12,000)	(2,966)
Net proceeds from exercise of options to purchase common stock	3,683	2,472
Net proceeds from employee stock purchase plan	87
Payment for earn-out liability	(688)
Net cash used in financing activities	(8,918)	(494)
Effect of foreign currency exchange rate changes	33	270
Net increase in cash and cash equivalents	5,232	9,856
Cash and cash equivalents at beginning of period	179,252	133,859
Cash and cash equivalents at end of period	$ 184,484	$ 143,715

General

3 Months Ended

Mar. 31, 2020

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, grocers, distributors and logistics firms to orchestrate the management of item data, order fulfillment, inventory control and sales analytics across all channels. For many businesses, implementing and maintaining a suite of supply chain management capabilities is resource-intensive and not a core competency. The solutions offered by SPS Commerce eliminate the need for on-premise software and support staff by taking on that capability on the customer’s behalf. These solutions also 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, helping ensure that suppliers, grocers, distributors, and logistics firms can satisfy retailer requirements.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of SPS Commerce, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements, which have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and notes required by GAAP. We have included all normal recurring adjustments considered necessary to provide a fair presentation of our financial position, results of operations, stockholders’ equity, and cash flows for the interim periods shown. Operating results for these interim periods are not necessarily indicative of the results to be expected for the full year. For further information, refer to the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the Securities and Exchange Commission (“SEC’).

Effective January 1, 2020, we adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326) with a modified-retrospective approach and recorded a $1.1 million cumulative-effect adjustment to retained earnings. Under the standard, in determining the allowances for credit losses, we pool our outstanding accounts receivable invoices based on the contractual due date of payment at the balance sheet date. We take several factors into consideration for estimated credit losses by pool, primarily our historical credit losses. Additional adjustments are made for current and future conditions, primarily the rate of retail bankruptcies across the United States.

On July 25, 2019, the Company announced that its board of directors declared a two-for-one stock split of the Company’s 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 Quarterly Report on Form 10-Q 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 Quarterly Report on Form 10-Q.

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, 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.

Recently Adopted Accounting Pronouncements

Standard	Date of Issuance	Description	Date Adopted	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 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 is intended to provide financial statement users with more decision-useful information about the expected credit losses.	January 2020	The adoption of this standard did not have a material impact on our condensed consolidated financial statements. See above under “Basis for Presentation” for significant inputs for the allowance for credit losses.
ASU 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement	August 2018	This amendment 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 did not have a material impact on our condensed 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 did not have a material impact on our condensed consolidated financial statements.

Significant Accounting Policies

There were no material changes in our significant accounting policies during the three months ended March 31, 2020. See Note A to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC, for additional information regarding our significant accounting policies.

Revenue

3 Months Ended

Mar. 31, 2020

Revenue From Contract With Customer [Abstract]

Revenue

NOTE B – Revenue

We derive our revenues from the following revenue streams:

	Three Months Ended
	March 31,
(In thousands)	2020		2019
Recurring revenues:
Fulfillment	$	59,103	$	52,445
Analytics		9,736		8,873
Other		1,199		1,428
Recurring Revenues		70,038		62,746
One-time revenues		4,154		4,188
	$	74,192	$	66,934

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

Recurring Revenues

Recurring revenues consists 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 liability 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 to 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 otherwise be available to them 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:

	Three Months Ended
	March 31,
(In thousands)	2020			2019
Balance, beginning of period	$	10,518		$	9,857
Invoiced set-up fees		2,719			2,537
Amortized set-up fees		(2,665	)		(2,581	)
Balance, end of period	$	10,572		$	9,813

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 to not disclose information about the remaining performance obligations for contracts which have original durations of one year or less.

Deferred Costs

3 Months Ended

Mar. 31, 2020

Deferred Costs [Abstract]

Deferred Costs

NOTE C – 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.

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 condensed 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 condensed consolidated statements of comprehensive income.

The table below presents the activity of deferred costs and amortization of deferred costs:

	Three Months Ended
	March 31,
(In thousands)	2020			2019
Balance, beginning of period	$	46,941		$	45,475
Incurred deferred costs		12,721			12,332
Amortized deferred costs		(12,726	)		(11,916	)
Balance, end of period	$	46,936		$	45,891

Financial Instruments

3 Months Ended

Mar. 31, 2020

Disclosure Text Block Supplement [Abstract]

Financial Instruments

NOTE D – 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 investments with remaining maturities of less than one year from the balance sheet date are classified as short-term investments. Investments with remaining maturities of more than one year from the balance sheet date are classified as long-term investments. As of March 31, 2020 and December 31, 2019, 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 condensed consolidated balance sheets. Realized gains or losses are included in other income (expense), net in the condensed consolidated statements of comprehensive income. When a determination has been made that the fair value of a marketable security is below its amortized cost basis, the portion of the unrealized loss that corresponds to a credit-related factor is realized through a credit allowance on the marketable security and the equivalent expense is realized in other income (expense), net in the condensed consolidated statements of comprehensive income.

Cash equivalents and short-term investments consisted of the following:

	March 31, 2020
	Amortized		Unrealized		Fair
(In thousands)	Cost		Gains, net		Value
Cash equivalents:
Money market funds	$	157,333	$	—	$	157,333
Certificates of deposit		6,140		—		6,140
Marketable securities:
Corporate bonds		11,405		24		11,429
Commercial paper		7,496		10		7,506
U.S. treasury securities		4,932		67		4,999
	$	187,306	$	101	$	187,407

	December 31, 2019
	Amortized		Unrealized		Fair
(In thousands)	Cost		Gains, net		Value
Cash equivalents:
Money market funds	$	151,266	$	—	$	151,266
Certificates of deposit		7,030		—		7,030
Marketable securities:
Corporate bonds		9,785		20		9,805
Commercial paper		7,503		—		7,503
U.S. treasury securities		9,855		91		9,946
	$	185,439	$	111	$	185,550

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 balance sheet 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, provided 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 the assumptions used in the simulations described above could have an impact on the payout of contingent consideration.

The following table presents information about our financial assets and liabilities 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:

	March 31, 2020
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	157,333	$	—	$	—	$	157,333
Certificates of deposit		6,140		—		—		6,140
Marketable securities:
Corporate bonds		—		11,429		—		11,429
Commercial paper		—		7,506		—		7,506
U.S. treasury securities		—		4,999		—		4,999
	$	163,473	$	23,934	$	—	$	187,407

Liabilities:
Earn-out liability	$	—	$	—	$	307	$	307
	$	—	$	—	$	307	$	307

	December 31, 2019
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	151,266	$	—	$	—	$	151,266
Certificates 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:
Earn-out liability	$	—	$	—	$	405	$	405
	$	—	$	—	$	405	$	405

During the three months ended March 31, 2020, we recognized expense of $0.1 million in our condensed consolidated statements of comprehensive income due to the remeasurement of the contingent liability and, additionally, we transferred $0.2 million out of Level 3. 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. The earn-out has a maximum potential payout of $1.7 million, of which $0.7 million was paid during the three months ended March 31, 2020.

There were no other transfers in or out of our Level 1, 2, or 3 assets or liabilities during the three months ended March 31, 2020 and 2019.

Nonrecurring Fair Value Measurements

The Company measures certain assets and liabilities at fair value on a nonrecurring basis. Assets 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.

Other Fair Value Disclosures

The carrying values of the Company's short-term financial instruments, including cash and cash equivalents, accounts receivable, and accounts payable, when applicable, approximate their respective fair values due to their short-term nature.

Allowance for Credit Losses

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Allowance for Credit Losses

NOTE E – Allowance for Credit Losses

The allowance for credit losses activity, included in accounts receivable, net, was as follows:

	Three Months Ended
	March 31,
(In thousands)	2020			2019
Balance, beginning of period	$	1,469		$	1,392
Adoption of ASU 2016-13		1,069			—
Provision for credit losses		1,285			655
Write-offs, net of recoveries		(884	)		(569	)
Balance, end of period	$	2,939		$	1,478

Goodwill and Intangible Assets, net

3 Months Ended

Mar. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, net

NOTE F – Goodwill and Intangible Assets, net

The changes in the net carrying amount of goodwill was as follows:

	Three Months Ended
	March 31,
(In thousands)	2020			2019
Balance, beginning of period	$	76,845		$	69,658
Foreign currency translation adjustments		(2,382	)		417
Balance, end of period	$	74,463		$	70,075

Intangible assets subject to amortization are amortized over their respective useful lives (ranging from three to ten years). Intangible assets, net included the following:

	March 31, 2020
	Gross					Foreign
	Carrying		Accumulated			Currency
(In thousands)	Amount		Amortization			Translation			Net
Subscriber relationships	$	36,847	$	(21,383	)	$	(468	)	$	14,996
Non-competition agreements		698		(597	)		(9	)		92
Acquired technology		7,795		(2,026	)		—			5,769
	$	45,340	$	(24,006	)	$	(477	)	$	20,857

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

The estimated annual amortization expense related to intangible assets subject to amortization for the next five years is as follows:

(In thousands)
Remainder of 2020	$	3,914
2021		4,395
2022		3,291
2023		3,227
2024		2,100
Thereafter		3,930
	$	20,857

Other Assets

3 Months Ended

Mar. 31, 2020

Other Assets [Abstract]

Other Assets

NOTE G – Other Assets

The changes in the net amount of capitalized implementation costs for software hosting arrangements is as follows:

	Three Months Ended
	March 31,
(in thousands)	2020			2019
Balance, beginning of period	$	1,166		$	455
Capitalized implementation fees		51			255
Amortization of implementation fees		(29	)		(10	)
Balance, end of period	$	1,188		$	700

There were no impairment losses in relation to the capitalized implementation costs for the three months ended March 31, 2020 and 2019.

Leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

NOTE H – Leases

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

	March 31, 2020			December 31, 2019
(In thousands, except remaining term)	Remaining Term	Right-of-Use Asset		Remaining Term	Right-of-Use Asset
Minneapolis, MN lease	5 years	$	10,577	5 years	$	10,704
Kyev, Ukraine lease	5 years		2,220	5 years		2,316
Little Falls, NJ lease	3 years		1,472	4 years		1,574
Other leases	<1 - 5 years		901	<1 - 5 years		1,150
		$	15,170		$	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 Right-of-Use (“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.

The components of lease expense were as follows:

	Three Months Ended
	March 31,
(In thousands)	2020		2019
Operating lease cost	$	595	$	686
Variable lease cost		892		804
	$	1,487	$	1,490

Operating lease cost for short-term leases was not material for the three months ended March 31, 2020 and 2019.

Supplemental cash flow information related to leases was as follows:

	Three Months Ended
	March 31,
(In thousands)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		1,112		1,033
ROU assets obtained in exchange for operating lease liabilities		29		—

Supplemental balance sheet information related to leases was as follows:

	March 31, 2020			December 31, 2019
Weighted-average remaining lease term - operating leases	4.8 years			5.0 years
Weighted-average discount rate - operating leases		4.5	%		4.5	%

At March 31, 2020, our future minimum payments under operating leases were as follows:

(In thousands)
Remainder of 2020	$	5,513
2021		5,077
2022		4,589
2023		4,402
2024		4,149
Thereafter		1,437
		25,167
Less: imputed interest		(2,344	)
	$	22,823

Stockholders' Equity

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Stockholders’ Equity

NOTE I – Stockholders’ Equity

Stock Split

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

Stock Repurchase Program

On November 2, 2019, our board of directors authorized a 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. For the three months ended March 31, 2020, we repurchased 240,275 shares at a cost of $12.0 million. As of March 31, 2020, $38.0 million of the share repurchase program was available for future share repurchases.

Stock-Based Compensation

3 Months Ended

Mar. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

NOTE J – 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 restricted stock units (“RSU”), to employees, non-employee directors and other consultants who provide services to us. We also provide an employee stock purchase plan and 401(k) stock match.

Restricted stock awards 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 2020, 2.1 million additional shares were reserved for future issuance under our 2010 Equity Incentive Plan. At March 31, 2020, there were approximately 14.0 million shares available for grant under approved equity compensation plans.

We recognize stock-based compensation expense on a straight-line basis over the vesting period, except for expense relating to retirement-eligible employees that have not given their required notice which is recognized on a pro-rata basis over the notice period prior to retirement.

Stock-based compensation expense was allocated in the condensed consolidated statements of comprehensive income as follows:

	Three Months Ended
	March 31,
(In thousands)	2020		2019
Cost of revenues	$	808	$	587
Operating expenses
Sales and marketing		846		730
Research and development		923		523
General and administrative		1,767		3,454
	$	4,344	$	5,294

Stock-based compensation expense by plan type was as follows:

	Three Months Ended
	March 31,
(In thousands)	2020		2019
Stock options	$	594	$	1,274
Performance share units		696		923
Restricted stock units		2,329		2,443
Restricted stock awards		127		136
Employee stock purchase plan		222		190
401(k) stock match		376		328
	$	4,344	$	5,294

As of March 31, 2020, there was approximately $27.1 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 2.8 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:

	Three Months Ended March 31, 2020
				Weighted Average
	Options (#)			Exercise Price (per share)
Outstanding, beginning of period		1,543,912		$	30.03
Granted		86,906			56.25
Exercised		(173,192	)		21.27
Forfeited		(1,756	)		41.27
Outstanding, end of period		1,455,870			32.63

Of the total outstanding options at March 31, 2020, 1.1 million were exercisable with a weighted average exercise price of $29.33 per share. The total outstanding options had a weighted average remaining contractual life of 3.1 years.

The weighted average grant date fair value of options granted during the first three months of 2020 was $14.51 per share. This was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

Volatility	31.2	%
Dividend yield	0	%
Life (in years)	3.8
Risk-free interest rate	1.3	%

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. Beginning with awards granted in 2020, the expected term of options is derived from historical data on employee exercises and post-vesting employment termination behavior. For awards granted prior to 2020, the expected term of the options was based on the simplified method which did 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 2017, our executive officers were granted performance share unit (“PSU”) awards with vesting contingent on successful attainment of pre-determined revenue targets over the course of a three-year performance period (fiscal years 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.

In February 2018, 2019 and 2020, 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 fiscal based three-year performance period, starting in the fiscal year of grant. 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 PSUs granted. Expense is recognized on a straight-line basis over the vesting period, regardless of whether the market condition is satisfied.

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

Activity for our PSUs and RSUs was as follows:

	Three Months Ended March 31, 2020
				Weighted Average Grant
	PSUs and RSUs (#)			Date Fair Value (per share)
Outstanding, beginning of period		795,086		$	38.76
Granted		202,011			57.12
Vested and common stock issued		(194,622	)		33.99
Forfeited		(150,636	)		28.20
Outstanding, end of period		651,839			48.32

Our restricted stock awards activity was as follows:

	Three Months Ended March 31, 2020
	Restricted Stock			Weighted Average Grant
	Awards (#)			Date Fair Value (per share)
Outstanding, beginning of period		2,460		$	51.80
Restrictions lapsed		(2,460	)		51.80
Outstanding, end of period		—			—

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, respectively. A total of 1.9 million shares of common stock are reserved for issuance under the plan as of March 31, 2020.

Our ESPP activity was as follows:

	Three Months Ended
	March 31,
(In thousands, except share data)	2020		2019
Amount for shares purchased	$	87	$	—
Shares purchased		2,015		—

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

Volatility	30.6	%
Dividend yield	0	%
Life (in years)	0.5
Risk-free interest rate	1.6	%

401(k) Stock Match

We sponsor a 401(k) retirement savings plan for our U.S. employees where participants can contribute up to 80% of their compensation, subject to the limits established by law. We match 50% of the employee’s elective deferrals, up to the first 6% of the employee’s pre-tax compensation for each pay period. 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.

Income Taxes

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

NOTE K – Income Taxes

We record our interim provision for income taxes by applying our estimated annual effective tax rate to our year-to-date pretax income and adjust the provision for discrete tax items recorded in the period. Differences between our effective tax rate and statutory tax rates are primarily due to the impact of permanently non-deductible expenses partially offset by the federal research and development credits and tax benefits associated with foreign-derived intangible income. Additionally, 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 quarter that the event occurs creating potentially significant fluctuation in tax expense by quarter and by year. Our provisions for income taxes include current foreign and state income tax expense, as well as deferred tax expense.

As of March 31, 2020, we do not have any unrecognized tax benefits nor any material accrued interest or tax penalties.

Net Income Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Net Income Per Share

NOTE L – 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, PSUs, RSUs and restricted awards. Potential common shares that are anti-dilutive are excluded from the calculation of 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:

	Three Months Ended
	March 31,
(In thousands, except per share amounts)	2020		2019
Numerator
Net income	$	9,515	$	6,813
Denominator
Weighted average common shares outstanding, basic		35,072		34,942
Options to purchase common stock		582		722
PSUs, RSUs and restricted stock awards		272		320
Weighted average common shares outstanding, diluted		35,926		35,984
Net income per share
Basic	$	0.27	$	0.19
Diluted	$	0.26	$	0.19

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 three months ended March 31, 2020 and 2019, the effect of approximately 309,000 and approximately 69,000 outstanding potential common shares, respectively, were excluded from the calculation of diluted net income per share as they were anti-dilutive.

Geographic Information

3 Months Ended

Mar. 31, 2020

Revenue From Contract With Customer [Abstract]

Geographic Information

NOTE M – Geographic Information

For the three months ended March 31, 2020 and 2019, 83% and 82% of our revenue, respectively, were attributable to customers based within the United States. No single jurisdiction outside of the U.S. had revenues in excess of 10%.

At March 31, 2020 and 2019, approximately 8% of property and equipment, net was located at subsidiary and office locations outside of the United States.

General (Policies)

3 Months Ended

Mar. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Business Description

Basis of Presentation

Use of Estimates

Recently Adopted Accounting Pronouncements

Standard	Date of Issuance	Description	Date Adopted	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 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 is intended to provide financial statement users with more decision-useful information about the expected credit losses.	January 2020	The adoption of this standard did not have a material impact on our condensed consolidated financial statements. See above under “Basis for Presentation” for significant inputs for the allowance for credit losses.
ASU 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement	August 2018	This amendment 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 did not have a material impact on our condensed 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 did not have a material impact on our condensed consolidated financial statements.

Significant Accounting Policies

Revenue (Tables)

3 Months Ended

Mar. 31, 2020

Revenue From Contract With Customer [Abstract]

Summary of Revenues by Revenue Stream

We derive our revenues from the following revenue streams:

	Three Months Ended
	March 31,
(In thousands)	2020		2019
Recurring revenues:
Fulfillment	$	59,103	$	52,445
Analytics		9,736		8,873
Other		1,199		1,428
Recurring Revenues		70,038		62,746
One-time revenues		4,154		4,188
	$	74,192	$	66,934

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:

	Three Months Ended
	March 31,
(In thousands)	2020			2019
Balance, beginning of period	$	10,518		$	9,857
Invoiced set-up fees		2,719			2,537
Amortized set-up fees		(2,665	)		(2,581	)
Balance, end of period	$	10,572		$	9,813

Deferred Costs (Tables)

3 Months Ended

Mar. 31, 2020

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:

	Three Months Ended
	March 31,
(In thousands)	2020			2019
Balance, beginning of period	$	46,941		$	45,475
Incurred deferred costs		12,721			12,332
Amortized deferred costs		(12,726	)		(11,916	)
Balance, end of period	$	46,936		$	45,891

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

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:

	March 31, 2020
	Amortized		Unrealized		Fair
(In thousands)	Cost		Gains, net		Value
Cash equivalents:
Money market funds	$	157,333	$	—	$	157,333
Certificates of deposit		6,140		—		6,140
Marketable securities:
Corporate bonds		11,405		24		11,429
Commercial paper		7,496		10		7,506
U.S. treasury securities		4,932		67		4,999
	$	187,306	$	101	$	187,407

	December 31, 2019
	Amortized		Unrealized		Fair
(In thousands)	Cost		Gains, net		Value
Cash equivalents:
Money market funds	$	151,266	$	—	$	151,266
Certificates of deposit		7,030		—		7,030
Marketable securities:
Corporate bonds		9,785		20		9,805
Commercial paper		7,503		—		7,503
U.S. treasury securities		9,855		91		9,946
	$	185,439	$	111	$	185,550

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

	March 31, 2020
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	157,333	$	—	$	—	$	157,333
Certificates of deposit		6,140		—		—		6,140
Marketable securities:
Corporate bonds		—		11,429		—		11,429
Commercial paper		—		7,506		—		7,506
U.S. treasury securities		—		4,999		—		4,999
	$	163,473	$	23,934	$	—	$	187,407

Liabilities:
Earn-out liability	$	—	$	—	$	307	$	307
	$	—	$	—	$	307	$	307

	December 31, 2019
(In thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	151,266	$	—	$	—	$	151,266
Certificates 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:
Earn-out liability	$	—	$	—	$	405	$	405
	$	—	$	—	$	405	$	405

Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Schedule of Allowance for Credit Losses Activity Included in Accounts Receivable Net

The allowance for credit losses activity, included in accounts receivable, net, was as follows:

	Three Months Ended
	March 31,
(In thousands)	2020			2019
Balance, beginning of period	$	1,469		$	1,392
Adoption of ASU 2016-13		1,069			—
Provision for credit losses		1,285			655
Write-offs, net of recoveries		(884	)		(569	)
Balance, end of period	$	2,939		$	1,478

Goodwill and Intangible Assets, net (Tables)

3 Months Ended

Mar. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Changes in Net Carrying Amount of Goodwill

The changes in the net carrying amount of goodwill was as follows:

	Three Months Ended
	March 31,
(In thousands)	2020			2019
Balance, beginning of period	$	76,845		$	69,658
Foreign currency translation adjustments		(2,382	)		417
Balance, end of period	$	74,463		$	70,075

Intangible Assets

Intangible assets subject to amortization are amortized over their respective useful lives (ranging from three to ten years). Intangible assets, net included the following:

	March 31, 2020
	Gross					Foreign
	Carrying		Accumulated			Currency
(In thousands)	Amount		Amortization			Translation			Net
Subscriber relationships	$	36,847	$	(21,383	)	$	(468	)	$	14,996
Non-competition agreements		698		(597	)		(9	)		92
Acquired technology		7,795		(2,026	)		—			5,769
	$	45,340	$	(24,006	)	$	(477	)	$	20,857

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

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 is as follows:

(In thousands)
Remainder of 2020	$	3,914
2021		4,395
2022		3,291
2023		3,227
2024		2,100
Thereafter		3,930
	$	20,857

Other Assets (Tables)

3 Months Ended

Mar. 31, 2020

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 is as follows:

	Three Months Ended
	March 31,
(in thousands)	2020			2019
Balance, beginning of period	$	1,166		$	455
Capitalized implementation fees		51			255
Amortization of implementation fees		(29	)		(10	)
Balance, end of period	$	1,188		$	700

Leases (Tables)

3 Months Ended

Mar. 31, 2020

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:

	March 31, 2020			December 31, 2019
(In thousands, except remaining term)	Remaining Term	Right-of-Use Asset		Remaining Term	Right-of-Use Asset
Minneapolis, MN lease	5 years	$	10,577	5 years	$	10,704
Kyev, Ukraine lease	5 years		2,220	5 years		2,316
Little Falls, NJ lease	3 years		1,472	4 years		1,574
Other leases	<1 - 5 years		901	<1 - 5 years		1,150
		$	15,170		$	15,744

Components of Lease Expense

The components of lease expense were as follows:

	Three Months Ended
	March 31,
(In thousands)	2020		2019
Operating lease cost	$	595	$	686
Variable lease cost		892		804
	$	1,487	$	1,490

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

	Three Months Ended
	March 31,
(In thousands)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		1,112		1,033
ROU assets obtained in exchange for operating lease liabilities		29		—

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

	March 31, 2020			December 31, 2019
Weighted-average remaining lease term - operating leases	4.8 years			5.0 years
Weighted-average discount rate - operating leases		4.5	%		4.5	%

Schedule of Future Minimum Payments Under Operating Leases

At March 31, 2020, our future minimum payments under operating leases were as follows:

(In thousands)
Remainder of 2020	$	5,513
2021		5,077
2022		4,589
2023		4,402
2024		4,149
Thereafter		1,437
		25,167
Less: imputed interest		(2,344	)
	$	22,823

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Stock-Based Compensation Expense

Stock-based compensation expense was allocated in the condensed consolidated statements of comprehensive income as follows:

	Three Months Ended
	March 31,
(In thousands)	2020		2019
Cost of revenues	$	808	$	587
Operating expenses
Sales and marketing		846		730
Research and development		923		523
General and administrative		1,767		3,454
	$	4,344	$	5,294

Stock-based compensation expense by plan type was as follows:

	Three Months Ended
	March 31,
(In thousands)	2020		2019
Stock options	$	594	$	1,274
Performance share units		696		923
Restricted stock units		2,329		2,443
Restricted stock awards		127		136
Employee stock purchase plan		222		190
401(k) stock match		376		328
	$	4,344	$	5,294

Stock Option Activity

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:

	Three Months Ended March 31, 2020
				Weighted Average
	Options (#)			Exercise Price (per share)
Outstanding, beginning of period		1,543,912		$	30.03
Granted		86,906			56.25
Exercised		(173,192	)		21.27
Forfeited		(1,756	)		41.27
Outstanding, end of period		1,455,870			32.63

Weighted Average Grant Date Fair Value of Options Granted, Assumptions

Volatility	31.2	%
Dividend yield	0	%
Life (in years)	3.8
Risk-free interest rate	1.3	%

Summary of ESPP Activity

Our ESPP activity was as follows:

	Three Months Ended
	March 31,
(In thousands, except share data)	2020		2019
Amount for shares purchased	$	87	$	—
Shares purchased		2,015		—

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

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

Volatility	30.6	%
Dividend yield	0	%
Life (in years)	0.5
Risk-free interest rate	1.6	%

PSUs and RSUs [Member]

PSUs and RSUs and Restricted Stock Awards

Activity for our PSUs and RSUs was as follows:

	Three Months Ended March 31, 2020
				Weighted Average Grant
	PSUs and RSUs (#)			Date Fair Value (per share)
Outstanding, beginning of period		795,086		$	38.76
Granted		202,011			57.12
Vested and common stock issued		(194,622	)		33.99
Forfeited		(150,636	)		28.20
Outstanding, end of period		651,839			48.32

Restricted Stock Award [Member]

PSUs and RSUs and Restricted Stock Awards

Our restricted stock awards activity was as follows:

	Three Months Ended March 31, 2020
	Restricted Stock			Weighted Average Grant
	Awards (#)			Date Fair Value (per share)
Outstanding, beginning of period		2,460		$	51.80
Restrictions lapsed		(2,460	)		51.80
Outstanding, end of period		—			—

Net Income Per Share (Tables)

3 Months Ended

Mar. 31, 2020

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:

	Three Months Ended
	March 31,
(In thousands, except per share amounts)	2020		2019
Numerator
Net income	$	9,515	$	6,813
Denominator
Weighted average common shares outstanding, basic		35,072		34,942
Options to purchase common stock		582		722
PSUs, RSUs and restricted stock awards		272		320
Weighted average common shares outstanding, diluted		35,926		35,984
Net income per share
Basic	$	0.27	$	0.19
Diluted	$	0.26	$	0.19

General - Additional Information (Detail) $ in Millions			3 Months Ended
General - Additional Information (Detail) $ in Millions	Aug. 22, 2019	Aug. 08, 2019	Mar. 31, 2020 USD ($)
Schedule of Accounting Policies [Line Items]
Stock split ratio	2	2
Percentage of stock dividend from stock split		100.00%
Accounting Standards Update 2016-13 [Member]
Schedule of Accounting Policies [Line Items]
Cumulative-effect adjustment to retained earnings			$ 1.1

Revenue - Summary of Revenues by Revenue Stream (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue Recognition [Line Items]
Revenues	$ 74,192	$ 66,934
Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues	70,038	62,746
One-time Revenues [Member]
Revenue Recognition [Line Items]
Revenues	4,154	4,188
Fulfillment [Member] \| Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues	59,103	52,445
Analytics [Member] \| Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues	9,736	8,873
Other [Member] \| Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues	$ 1,199	$ 1,428

Revenue - Additional Information (Detail)	3 Months Ended
Revenue - Additional Information (Detail)	Mar. 31, 2020
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	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Deferred Revenue Arrangement [Line Items]
Balance, beginning of period	$ 10,518	$ 9,857
Invoiced set-up fees	2,719	2,537
Amortized set-up fees	(2,665)	(2,581)
Balance, end of period	$ 10,572	$ 9,813

Deferred Costs - Additional Information (Detail)	3 Months Ended
Deferred Costs - Additional Information (Detail)	Mar. 31, 2020
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	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Deferred Costs [Abstract]
Balance, beginning of period	$ 46,941	$ 45,475
Incurred deferred costs	12,721	12,332
Amortized deferred costs	(12,726)	(11,916)
Balance, end of period	$ 46,936	$ 45,891

Financial Instruments - Summary of Cash Equivalents and Short-term Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Schedule of Financial Instruments [Line Items]
Amortized Cost	$ 187,306	$ 185,439
Unrealized Gains, net	101	111
Fair Value	187,407	185,550
Money Market Funds [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	157,333	151,266
Fair Value	157,333	151,266
Certificates of Deposit [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	6,140	7,030
Fair Value	6,140	7,030
Corporate Bonds [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	11,405	9,785
Unrealized Gains, net	24	20
Fair Value	11,429	9,805
Commercial Paper [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	7,496	7,503
Unrealized Gains, net	10
Fair Value	7,506	7,503
U.S. Treasury Securities [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	4,932	9,855
Unrealized Gains, net	67	91
Fair Value	$ 4,999	$ 9,946

Financial Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	$ 187,407	$ 185,550
Liabilities fair value	307	405
Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	157,333	151,266
Certificates of Deposit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	6,140	7,030
Corporate Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	11,429	9,805
Commercial Paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	7,506	7,503
U.S. Treasury Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	4,999	9,946
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	163,473	158,296
Level 1 [Member] \| Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	157,333	151,266
Level 1 [Member] \| Certificates of Deposit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	6,140	7,030
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	23,934	27,254
Level 2 [Member] \| Corporate Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	11,429	9,805
Level 2 [Member] \| Commercial Paper [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	7,506	7,503
Level 2 [Member] \| U.S. Treasury Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets fair value	4,999	9,946
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities fair value	$ 307	$ 405

Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maximum potential payout of contingent consideration	$ 1,700,000
Expense due to remeasurement of contingent liability	100,000
Earn out liability payment	700,000
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
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent liability transferred amount	$ 200,000

Allowance for Credit Losses - Schedule of Allowance for Credit Losses Activity Included in Accounts Receivable Net (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Allowance For Credit Loss [Abstract]
Balance, beginning of period	$ 1,469	$ 1,392
Adoption of ASU 2016-13	1,069
Provision for credit losses	1,285	655
Write-offs, net of recoveries	(884)	(569)
Balance, end of period	$ 2,939	$ 1,478

Goodwill and Intangible Assets, net - Schedule of Changes in Net Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Balance, beginning of period	$ 76,845	$ 69,658
Foreign currency translation adjustments	(2,382)	417
Balance, end of period	$ 74,463	$ 70,075

Goodwill and Intangible Assets, net - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life	3 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life	10 years

Goodwill and Intangible Assets, net - Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 45,340	$ 54,737
Accumulated Amortization	(24,006)	(32,301)
Foreign Currency Translation	(477)	232
Net	20,857	22,668
Subscriber Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	36,847	43,640
Accumulated Amortization	(21,383)	(27,287)
Foreign Currency Translation	(468)	214
Net	14,996	16,567
Non-competition Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	698	2,495
Accumulated Amortization	(597)	(2,371)
Foreign Currency Translation	(9)	10
Net	92	134
Acquired Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	7,795	8,602
Accumulated Amortization	(2,026)	(2,643)
Foreign Currency Translation		8
Net	$ 5,769	$ 5,967

Goodwill and Intangible Assets, net - Estimated Annual Amortization Expense Related to Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 3,914
2021	4,395
2022	3,291
2023	3,227
2024	2,100
Thereafter	3,930
Net	$ 20,857	$ 22,668

Other Assets - Summary of Changes in Net Amount of Capitalized Implementation Costs for Software Hosting Arrangements (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Capitalized Computer Software Net [Abstract]
Balance, beginning of period	$ 1,166	$ 455
Capitalized implementation fees	51	255
Amortization of implementation fees	(29)	(10)
Balance, end of period	$ 1,188	$ 700

Other Assets - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Capitalized Computer Software Net [Abstract]
Impairment losses on capitalized implementation costs	$ 0	$ 0

Leases - Summary of Non-Cancellable Operating Leases, Primarily for Office Space and Certain Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Lessee Lease Description [Line Items]
Right-of-Use Asset	$ 15,170	$ 15,744
Minneapolis, MN Lease [Member]
Lessee Lease Description [Line Items]
Remaining Term (in years)	5 years	5 years
Right-of-Use Asset	$ 10,577	$ 10,704
Kyev, Ukraine Lease [Member]
Lessee Lease Description [Line Items]
Remaining Term (in years)	5 years	5 years
Right-of-Use Asset	$ 2,220	$ 2,316
Little Falls, NJ Lease [Member]
Lessee Lease Description [Line Items]
Remaining Term (in years)	3 years	4 years
Right-of-Use Asset	$ 1,472	$ 1,574
Other Leases [Member]
Lessee Lease Description [Line Items]
Right-of-Use Asset	$ 901	$ 1,150
Other Leases [Member] \| Minimum [Member]
Lessee Lease Description [Line Items]
Remaining Term (in years)	1 year	1 year
Other Leases [Member] \| Maximum [Member]
Lessee Lease Description [Line Items]
Remaining Term (in years)	5 years	5 years

Leases - Additional Information (Detail)	Mar. 31, 2020
Leases [Abstract]
Lease extension period, number of years	5 years

Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease cost	$ 595	$ 686
Variable lease cost	892	804
Lease expense	$ 1,487	$ 1,490

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 1,112	$ 1,033
ROU assets obtained in exchange for operating lease liabilities	$ 29

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Detail)	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term - operating leases	4 years 9 months 18 days	5 years
Weighted-average discount rate - operating leases	4.50%	4.50%

Leases - Schedule of Future Minimum Payments Under Operating Leases (Detail) $ in Thousands	Mar. 31, 2020 USD ($)
Leases [Abstract]
Remainder of 2020	$ 5,513
2021	5,077
2022	4,589
2023	4,402
2024	4,149
Thereafter	1,437
Future minimum payments	25,167
Less: imputed interest	(2,344)
Operating lease liability	$ 22,823

Stockholders' Equity - Additional Information (Detail) $ in Thousands				3 Months Ended
	Nov. 02, 2019 USD ($)	Aug. 22, 2019 shares	Aug. 08, 2019	Mar. 31, 2020 USD ($) shares	Mar. 31, 2019 USD ($) shares
Schedule Of Stockholders Equity [Line Items]
Stock split ratio		2	2
Change in number of common stock, shares authorized \| shares		0
Treasury stock at cost				$ 12,000	$ 2,966
Common Stock [Member]
Schedule Of Stockholders Equity [Line Items]
Stock repurchase program, authorized amount	$ 50,000
Stock repurchase program, period	2 years
Repurchase of treasury shares \| shares				240,275	67,464
Stock repurchase program, available for future repurchases				$ 38,000

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended			3 Months Ended
	Feb. 28, 2019	Feb. 28, 2018	Feb. 28, 2017	Mar. 31, 2020 USD ($) Offering $ / shares shares	Feb. 29, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant				14.0
Unrecognized stock-based compensation expense \| $				$ 27.1
Unrecognized stock-based compensation, expected to be recognized, weighted average period				2 years 9 months 18 days
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares reserved for issuance under the plan				1.9
Purchase price as a percentage of fair market value				85.00%
Number of offerings per year \| Offering				2
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					2.1
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				4 years
Stock options exercisable				1.1
Weighted average exercise price \| $ / shares				$ 29.33
Weighted average remaining contractual life				3 years 1 month 6 days
Weighted average fair value per share of options granted \| $ / shares				$ 14.51
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
Performance Share Unit [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]
Vesting period				4 years
Restricted Stock Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards units restrictions lapse, period				1 year
401(k) Stock Match [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum allowable contribution by employee percentage				80.00%
Defined benefit plan employer matching contribution percent				50.00%
Maximum annual contribution per employee, percent				6.00%

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 4,344	$ 5,294
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	594	1,274
Performance Share Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Performance Share Units	696	923
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	2,329	2,443
Restricted Stock Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	127	136
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	222	190
401(k) Stock Match [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	376	328
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	808	587
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	846	730
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	923	523
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 1,767	$ 3,454

Stock-Based Compensation - Stock Option Activity (Detail)	3 Months Ended
	Mar. 31, 2020 $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options Outstanding, beginning of period \| shares	1,543,912
Options, Granted \| shares	86,906
Options, Exercised \| shares	(173,192)
Options, Forfeited \| shares	(1,756)
Options Outstanding, end of period \| shares	1,455,870
Weighted Average Exercise Price, Outstanding, beginning of period \| $ / shares	$ 30.03
Weighted Average Exercise Price, Granted \| $ / shares	56.25
Weighted Average Exercise Price, Exercised \| $ / shares	21.27
Weighted Average Exercise Price, Forfeited \| $ / shares	41.27
Weighted Average Exercise Price, Outstanding, end of period \| $ / shares	$ 32.63

Stock-Based Compensation - Weighted Average Grant Date Fair Value of Options Granted, Assumptions (Detail) - Stock Options [Member]	3 Months Ended
	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	31.20%
Dividend yield	0.00%
Life (in years)	3 years 9 months 18 days
Risk-free interest rate	1.30%

Stock-Based Compensation - PSUs and RSUs (Detail) - PSU's and RSU's [Member]	3 Months Ended
	Mar. 31, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, Outstanding, beginning of period \| shares	795,086
Granted, stock units \| shares	202,011
Vested and common stock issued, stock units \| shares	(194,622)
Forfeited, stock units \| shares	(150,636)
Stock awards, Outstanding, end of period \| shares	651,839
Weighted average grant date fair value, Outstanding, beginning of period \| $ / shares	$ 38.76
Granted, Weighted Average Grant Date Fair Value \| $ / shares	57.12
Vested and common stock issued, Weighted Average Grant Date Fair Value \| $ / shares	33.99
Forfeited, Weighted Average Grant Date Fair Value \| $ / shares	28.20
Weighted average grant date fair value, Outstanding, end of period \| $ / shares	$ 48.32

Stock-Based Compensation - Restricted Stock Awards (Detail) - Restricted Stock Award [Member]	3 Months Ended
	Mar. 31, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, Outstanding, beginning of period \| shares	2,460
Restrictions lapsed, stock awards \| shares	(2,460)
Weighted average grant date fair value, Outstanding, beginning of period \| $ / shares	$ 51.80
Restrictions lapsed, Weighted Average Grant Date Fair Value \| $ / shares	$ 51.80

Stock-Based Compensation - Summary of ESPP Activity (Detail) - Employee Stock Purchase Plan [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount for shares purchased \| $	$ 87
Shares purchased \| shares	2,015

Stock-Based Compensation - Fair Value Estimation of Common Stock Using Black-Scholes Option Pricing Model, Assumptions (Detail) - Employee Stock Purchase Plan [Member]	3 Months Ended
	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	30.60%
Dividend yield	0.00%
Life (in years)	6 months
Risk-free interest rate	1.60%

Income Taxes - Additional Information (Detail)	Mar. 31, 2020 USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0
Accrued interest or tax penalties	$ 0

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
	Mar. 31, 2020	Mar. 31, 2019
Numerator
Net income	$ 9,515	$ 6,813
Denominator
Weighted average common shares outstanding, basic	35,072	34,942
Options to purchase common stock	582	722
PSUs, RSUs and restricted stock awards	272	320
Weighted average common shares outstanding, diluted	35,926	35,984
Net income per share
Basic	$ 0.27	$ 0.19
Diluted	$ 0.26	$ 0.19

Net Income Per Share - Additional Information (Detail) shares in Thousands			3 Months Ended
	Aug. 22, 2019	Aug. 08, 2019	Mar. 31, 2020 shares	Mar. 31, 2019 shares
Net Income Per Share [Abstract]
Stock split ratio, description			two-for-one stock split
Stock split ratio	2	2
Outstanding potential common shares excluded from calculation of diluted net income (loss) per share			309,000	69,000

Geographic Information - Additional Information (Detail) - jurisdiction	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation Of Revenue [Line Items]
Number of jurisdiction outside US had excess revenue of 10%	0
Geographic Concentration Risk \| United States [Member]
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	83.00%	82.00%
Geographic Concentration Risk \| Foreign [Member] \| Property, Plant and Equipment
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	8.00%	8.00%
Geographic Concentration Risk \| Foreign [Member] \| Maximum [Member]
Disaggregation Of Revenue [Line Items]
Concentration risk, percentage	10.00%