0001564590-22-005952 | 10-K | XBRL Viewer

Revenue

NOTE C – Revenue

We derive our revenues from the following revenue streams:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Recurring revenues:
Fulfillment	$	306,851	$	251,272	$	219,297
Analytics		42,674		38,824		37,038
Other		5,481		4,920		5,671
Recurring Revenues		355,006		295,016		262,006
One-time revenues		30,270		17,614		17,118
Total revenue	$	385,276	$	312,630	$	279,124

Revenues are the amount that reflects the consideration we are contractually and legally entitled to, as well as expect to collect, in exchange for those services.

Recurring Revenues

Recurring revenues consist of recurring subscriptions from customers that utilize our Fulfillment, Analytics and Other supply chain management products. Revenue for these products 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 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 recurring revenue contracts since they have original durations of one year or less.

One-time Revenues

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

Set- up revenues

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. These nonrefundable fees are necessary for our customers to utilize our services and do not provide any standalone value.

Set-up fees constitute a material renewal option right that provide 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. As such, 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.

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

	Year Ended December 31,
(in thousands)	2021			2020
Balance, beginning of year	$	11,118		$	10,518
Invoiced set-up fees		15,931			11,410
Recognized set-up fees		(12,590	)		(10,810	)
Balance, end of year	$	14,459		$	11,118

The entire balance of deferred set-up fees will be recognized within two years; those that will be recognized within the next year are classified as current whereas the remainder are classified as non-current.

Miscellaneous one-time revenues

Miscellaneous one-time fees consist of professional services and testing and certification.

The contract period for these one-time fees is 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 miscellaneous one-time fee contracts since they have original durations of one year or less.

Deferred Revenue

In the year ended December 31, 2021, we recognized revenue of $37.9 million from amounts included in deferred revenue at December 31, 2020.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Disclosure Text Block Supplement [Abstract]

Deferred Costs

12 Months Ended

Dec. 31, 2021

Deferred Costs [Abstract]

Deferred Costs

NOTE D – Deferred Costs

The deferred costs activity was as follows:

	Year Ended December 31,
(in thousands)	2021			2020
Balance, beginning of year	$	50,595		$	46,941
Incurred deferred costs		64,076			54,421
Amortized deferred costs		(54,951	)		(50,767	)
Balance, end of year	$	59,720		$	50,595

Financial Instruments

12 Months Ended

Dec. 31, 2021

Financial Instruments

NOTE E – Financial Instruments

Cash equivalents and investments

Cash equivalents and investments consisted of the following:

	December 31,
	2021							2020
	Amortized		Unrealized Gains					Amortized		Unrealized
(in thousands)	Cost		(Losses), net			Fair Value		Cost		Losses, net			Fair Value
Cash equivalents:
Money market funds	$	138,205	$	—		$	138,205	$	112,907	$	—		$	112,907
Certificate of deposit		7,268		—			7,268		7,708		—			7,708
Marketable securities:
U.S. corporate bonds		—		—			—		5,069		(29	)		5,040
Commercial paper		34,984		7			34,991		7,569		(55	)		7,514
U.S. treasury securities		7,500		(1	)		7,499		20,051		(27	)		20,024
	$	187,957	$	6		$	187,963	$	153,304	$	(111	)	$	153,193
Maturing within one year						$	187,963						$	150,693
Maturing within one to two years							—							2,500
Total						$	187,963						$	153,193

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 are 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 securities from a professional pricing service.

The following table details the fair value hierarchy of our assets and liabilities measured at a fair value on a recurring basis:

	December 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	138,205	$	—	$	—	$	138,205
Certificate of deposit		7,268		—		—		7,268
Marketable securities:
U.S. corporate bonds		—		—		—		—
Commercial paper		—		34,991		—		34,991
U.S. treasury securities		—		7,499		—		7,499
	$	145,473	$	42,490	$	—	$	187,963

	December 31, 2020
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	112,907	$	—	$	—	$	112,907
Certificate of deposit		7,708		—		—		7,708
Marketable securities:
U.S. corporate bonds		—		5,040		—		5,040
Commercial paper		—		7,514		—		7,514
U.S. treasury securities		—		20,024		—		20,024
	$	120,615	$	32,578	$	—	$	153,193

Liabilities:
Contingent consideration	$	—	$	—	$	1,878	$	1,878
	$	—	$	—	$	1,878	$	1,878

For the contingent consideration liability, related to the Data Masons acquisition, we were required to pay the former owners of Data Masons $1.9 million in the event the Paycheck Protection Program Loan (“PPP Loan”) acquired in the acquisition was forgiven in full. In 2021, the Small Business Administration approved the full forgiveness of the PPP Loan and, accordingly, the payment of the $1.9 million contingent liability was made.

Nonrecurring Fair Value Measurements

We measure certain assets and liabilities at fair value on a nonrecurring basis, including long-lived assets, goodwill, and indefinite-lived intangible assets.

Allowance for Credit Losses

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Allowance for Credit Losses

NOTE F – Allowance for Credit Losses

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

	Year Ended December 31,
(in thousands)	2021			2020			2019
Balance, beginning of year	$	4,233		$	1,469		$	1,392
Provision for credit losses		4,717			5,660			3,499
Write-offs, net of recoveries		(4,790	)		(4,319	)		(3,422	)
Initial allowance for business combination acquired receivables		89			354			—
Adoption of ASU 2016-13		—			1,069			—
Balance, end of year	$	4,249		$	4,233		$	1,469

Property and Equipment, net

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Property and Equipment, net

NOTE G – Property and Equipment, net

Property and equipment, net consisted of the following:

	December 31,
(in thousands)	2021			2020
Internally developed software	$	44,981		$	33,565
Computer equipment		29,329			29,660
Office equipment and furniture		10,972			9,613
Leasehold improvements		16,685			12,746
Property and equipment, cost		101,967			85,584
Less: accumulated depreciation and amortization		(70,066	)		(59,152	)
Total property and equipment, net	$	31,901		$	26,432

Depreciation and amortization expense of property and equipment was as follows:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Depreciation and amortization expense	$	14,788	$	13,127	$	11,123

Goodwill and Intangible Assets, net

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, net

NOTE H – Goodwill and Intangible Assets, net

Goodwill

The activity in goodwill was as follows:

	Year Ended December 31,
(in thousands)	2021			2020
Balance, beginning of year	$	134,853		$	76,845
Additions from business acquisitions		8,914			56,960
Remeasurement from provisional purchase accounting amount		268			—
Foreign currency translation		(372	)		1,048
Balance, end of year	$	143,663		$	134,853

Intangible Assets

Intangible assets, net consisted of the following:

	December 31, 2021
(in thousands, except weighted average amortization period)	Gross Carrying Amount		Accumulated Amortization			Foreign Currency Translation			Net		Weighted Average Remaining Amortization Period
Subscriber relationships	$	61,270	$	(29,866	)	$	(1,395	)	$	30,009	6 years
Acquired technology		35,316		(6,738	)		—			28,578	7 years
	$	96,586	$	(36,604	)	$	(1,395	)	$	58,587	7 years

	December 31, 2020
(in thousands, except weighted average amortization period)	Gross Carrying Amount		Accumulated Amortization			Foreign Currency Translation			Net		Weighted Average Remaining Amortization Period
Subscriber relationships	$	54,447	$	(24,792	)	$	101		$	29,756	6 years
Non-competition agreements		698		(691	)		(4	)		3	0 years
Acquired technology		33,195		(2,724	)		—			30,471	8 years
	$	88,340	$	(28,207	)	$	97		$	60,230	7 years

The estimated future annual amortization expense related to intangible assets is as follows:

(in thousands)
2022	$	9,883
2023		9,808
2024		8,534
2025		8,396
2026		7,392
Thereafter		14,574
Total future amortization	$	58,587

Other Assets

12 Months Ended

Dec. 31, 2021

Other Assets [Abstract]

Other Assets

NOTE I – Other Assets

The activity in the capitalized implementation costs for software hosting arrangements was as follows:

	Year Ended December 31,
(in thousands)	2021			2020
Balance, beginning of year	$	1,181		$	1,166
Capitalized implementation fees		130			127
Amortization of implementation fees		(229	)		(112	)
Balance, end of year	$	1,082		$	1,181

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE J – Commitments and Contingencies

Leases

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

	December 31, 2021			December 31, 2020
(in thousands, except remaining term)	Right-of-Use Asset		Remaining Term	Right-of-Use Asset		Remaining Term
Minneapolis, MN lease	$	6,837	5 years	$	10,992	6 years
Kyiv, Ukraine lease		1,530	3 years		1,930	4 years
Other leases		2,484	<1 - 5 years		2,659	<1 - 5 years
	$	10,851		$	15,581

In 2020, we executed an amendment to our lease agreement for our current headquarters located in Minneapolis, Minnesota where we lease approximately 198,000 square feet under an agreement that now expires in 2027. The lease also has two options to extend the term for five years each at a market rate determined in accordance with the lease.

In 2019, we executed a lease agreement for a new Kyiv, Ukraine location, where we lease approximately 17,000 square feet under an agreement that expires in 2025. The lease includes one option to extend the term for five years and six months at a market rate determined in accordance with the lease.

The components of lease expense were as follows:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Operating lease cost	$	3,089	$	2,719	$	2,569
Variable lease cost		3,660		3,578		3,390
	$	6,749	$	6,297	$	5,959

Supplemental cash flow information related to leases was as follows:

	December 31,
(in thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	3,757	$	4,134
Right-of-use assets obtained in exchange for operating lease liabilities		992		12,801

Supplemental balance sheet information related to leases was as follows:

	December 31, 2021			December 31, 2020
Weighted-average remaining lease term - operating leases	4.8 years			5.6 years
Weighted-average discount rate - operating leases		4.0	%		4.1	%

At December 31, 2021, our future minimum payments under operating leases were as follows:

(in thousands)
2022	$	4,865
2023		4,687
2024		4,257
2025		3,859
2026		3,772
Thereafter		1,269
Total future payments		22,709
Less: imputed interest		(2,175	)
Total operating lease liabilities	$	20,534

Purchase Commitments

We have entered into separate noncancelable agreements with computing infrastructure and customer relationship management vendors for services through 2023. At December 31, 2021, the total remaining purchase commitments were $9.9 million.

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, 2021

Equity [Abstract]

Stockholders' Equity

NOTE K – Stockholders’ Equity

Stock Repurchase Program

Our board of directors has authorized multiple non-concurrent programs to repurchase our common stock. Details of the plans and activity thereunder was as follows:

(in thousands)	Effective Date	Expiration Date	Share Value Authorized for Repurchase		Share Value Repurchased		Unused & Expired Share Repurchase Value		Share Value Available for Future Repurchase
2017 Program	Nov. 2017	Nov. 2019	$	50,000	$	46,297	$	3,703	N/A
2019 Program	Nov. 2019	Nov. 2021		50,000		29,611		20,389	N/A
2021 Program	Nov. 2021	Nov. 2023		50,000		9,769	N/A		$	40,231

The stock repurchase activity by year was as follows:

	Year Ended December 31,
(in thousands, except share data)	2021		2020		2019
Shares repurchased cost	$	20,430	$	18,950	$	20,618
Shares repurchased		176,103		371,902		417,564

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

12 Months Ended

Dec. 31, 2021

Stock-Based Compensation

NOTE L – 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 PSUs, RSAs, RSUs, and DSUs, to employees, non-employee directors and other consultants who provide services to us. We also provide an ESPP and 401(k) stock match.

At December 31, 2021 there were approximately 13.5 million shares available for grant under approved equity compensation plans.

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

	Year Ended December 31,
(in thousands)	2021		2020		2019
Cost of revenues	$	6,760	$	3,948	$	2,819
Operating expenses
Sales and marketing		6,248		4,119		2,946
Research and development		4,384		3,626		2,651
General and administrative		10,182		7,243		6,274
	$	27,574	$	18,936	$	14,690

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

	Year Ended December 31,
(in thousands)	2021		2020		2019
Stock options	$	2,057	$	2,232	$	3,211
PSUs		6,417		3,219		1,379
RSUs		15,388		10,367		7,553
RSAs & DSUs		434		446		519
ESPP		1,391		1,117		701
401(k) stock match		1,887		1,555		1,327
	$	27,574	$	18,936	$	14,690

As of December 31, 2021, there was $30.4 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 2.3 years.

Stock Options

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

				Weighted Average
	Options			Exercise Price
	(#)			($/share)
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
Granted		127,974			59.02
Exercised		(712,074	)		26.11
Forfeited		(14,926	)		43.14
Outstanding at December 31, 2020		944,886			36.71
Granted		53,223			105.53
Exercised		(311,378	)		30.10
Forfeited		(8,081	)		68.62
Outstanding at December 31, 2021		678,650			44.76

Of the total outstanding options at December 31, 2021, 0.5 million were exercisable. The outstanding and exercisable options had a weighted average exercise price of $38.72 per share and a weighted average remaining contractual life of 3.3 years.

The table below presents additional information related to our stock options:

	Year Ended December 31,
(in thousands, except per share data)	2021		2020		2019
Fair value of options vested	$	2,509	$	3,000	$	3,393
Intrinsic value of options exercised		27,713		31,737		11,103
Intrinsic value of options outstanding		66,235		67,918		39,194
Weighted-average fair value per share of options granted		31.31		16.18		16.86

The fair values of the options granted were estimated on the date of grant using the following weighted-average assumptions:

	Year Ended December 31,
	2021			2020			2019
Volatility		35	%		33	%		33	%
Dividend yield		—			—			—
Life (in years)		4.4			4.0			4.4
Risk-free interest rate		0.59	%		0.99	%		2.41	%

Performance Share Units, Restricted Stock Units and Awards, and Deferred Stock Units

In 2021, 2020, and 2019 we granted PSU awards with certain target performance levels. These awards are earned based upon our Company’s total shareholder return as compared to an indexed total shareholder return over the course of a fiscal based three-year performance period, starting in the year of grant. Earned awards vest in the quarter following the conclusion of the performance period. 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 2017, we granted PSU awards with vesting contingent on successful attainment of pre-determined revenue targets over the course of a three-year performance period (2017 – 2019). The awards were forfeited in 2020 as the targets were not met. In 2021, PSU awards granted in 2018 were earned and vested at the maximum performance level and as such 0.1 million shares of common stock were issued.

RSUs generally vest over four years and, upon vesting, the holder is entitled to receive shares of our common stock.

RSAs vest over one year and, upon vesting, the holder is entitled to receive shares of our common stock. In lieu of RSAs, a participant may elect to receive DSUs with one year vesting, but the participant directs delayed receipt of common shares of up to ten years after the end of service to us.

Activity for our PSUs, RSUs, RSAs, and DSUs in aggregate was as follows:

				Weighted Average
				Grant Date Fair
	(#)			Value ($/share)
Outstanding at December 31, 2018		758,334			29.99
Granted		288,462			55.69
Vested and common stock issued		(217,424	)		31.05
Forfeited		(31,826	)		34.67
Outstanding at December 31, 2019		797,546			38.80
Granted		331,264			62.78
Vested and common stock issued		(222,606	)		36.06
Forfeited		(167,782	)		30.09
Outstanding at December 31, 2020		738,422			52.37
Granted		314,290			101.85
Vested and common stock issued		(331,669	)		44.14
Forfeited		(18,883	)		66.35
Outstanding at December 31, 2021		702,160			78.03

The number of PSUs, RSUs, RSAs, and DSUs outstanding at December 31, 2021 included 0.1 million units that have vested, but the shares of common stock have not yet been issued, pursuant to the terms of the agreement.

Employee Stock Purchase Plan

Our ESPP 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 our 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 1.8 million shares of common stock are remaining for issuance under the plan at December 31, 2021.

Our ESPP activity was as follows:

	Year Ended December 31,
(in thousands, except share data)	2021		2020		2019
Amounts for shares purchased	$	4,737	$	3,374	$	2,270
Shares purchased		55,726		61,833		58,851

The fair value was estimated based on the market price of our common stock at the beginning of each offering period using the following assumptions:

	Year Ended December 31,
	2021			2020			2019
Volatility		32	%		43	%		36	%
Dividend yield		—			—			—
Life (in years)		0.50			0.50			0.50
Risk-free interest rate		0.07	%		0.96	%		2.36	%

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Note M – Income Taxes

Our provision for income taxes was comprised of the following components:

	Year Ended December 31,
(in thousands)	2021			2020			2019
Current
Federal	$	1,559		$	-		$	-
State		1,890			1,249			599
Foreign		1,610			1,608			169
Deferred
Federal		4,294			4,462			6,595
State		(88	)		244			1,156
Foreign		(321	)		(469	)		(161	)
	$	8,944		$	7,094		$	8,358

Our income tax expense differed from the amounts computed by applying the U.S. federal income tax rate to pretax income as a result of the following:

	Year Ended December 31,
	2021			2020			2019
U.S. statutory federal income tax rate		21.0	%		21.0	%		21.0	%
Increase (decrease) resulting from:
U.S. state income taxes, net of federal tax effect		4.5			4.5			4.6
Tax impact of stock activity		(12.8	)		(12.9	)		(6.0	)
Nondeductible compensation		5.0			1.8			2.2
Research and development credit		(1.1	)		(0.6	)		(3.0	)
Foreign derived intangible income		(1.3	)		(1.3	)	-
Other		1.4			1.0			1.1
Effective tax rate		16.7	%		13.5	%		19.9	%

The significant components of our deferred tax assets and liabilities were as follows:

	December 31,
(in thousands)	2021			2020
Deferred tax assets
Net operating loss and credit carryforwards	$	4,828		$	4,539
Stock-based compensation expense		3,934			3,605
Accounts receivable allowances		1,336			1,228
Accrued expenses		5,174			3,200
Deferred revenue		1,300			695
Operating lease liabilities		5,235			5,435
Other		142			660
Gross deferred tax assets		21,949			19,362
Less: valuation allowance		(1,815	)		(1,582	)
Total net deferred tax assets		20,134			17,780

Deferred tax liabilities
Deferred costs	$	(15,126	)	$	(12,561	)
Right-of-use assets		(2,787	)		(3,754	)
Foreign operations		(364	)		(228	)
Depreciation and amortization		(8,820	)		(3,980	)
Other		—			—
Total deferred tax liabilities		(27,097	)		(20,523	)
Net deferred tax liabilities	$	(6,963	)	$	(2,743	)

As of December 31, 2021, we had net operating loss carryforwards of $14.4 million for U.S. federal tax purposes and $4.0 million for state tax purposes. If not utilized, the loss carryforwards will expire between 2022 and 2036 for federal tax purposes and between 2029 and 2042 for state tax purposes. 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, 2021, all $14.4 million of our net operating loss carryforwards are subject to Section 382 limitations, of which we believe $8.5 million of federal losses will expire unused due to Section 382 limitations. Accordingly, our deferred tax assets are reported net of the Section 382 limitations.

As of December 31, 2021, we had federal research and development (“R&D”) credit carryforwards, net of Section 383 limitations, of $1.3 million, which, if not utilized, will expire between 2034 and 2042. As of December 31, 2021, we had state R&D credit carryforwards of $1.8 million which, if not utilized, will expire between 2025 and 2037.

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 most prior tax years due to our net operating loss and R&D credit carryforwards and the utilization of the carryforwards in years still open under statute.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Other Income And Expenses [Abstract]

Other Income

12 Months Ended

Dec. 31, 2021

Other Income

NOTE N – Other Income

Other income (expense), net included the following:

	Year Ended December 31,
(in thousands)	2021			2020			2019
Investment income	$	278		$	1,208		$	2,947
Realized gain (loss) from foreign currency on cash and investments held		(1,456	)		1,753			-
Change in earn-out liability		-			(85	)		(445	)
Other		(366	)		(354	)		1,162
Total other income (expense), net	$	(1,544	)	$	2,522		$	3,664

Effective January 1, 2021, all realized gains or losses and interest income on our investments are included in investment income. Previously, realized gains and losses were included in other income (expense), net and interest income was included in interest income, net. Additionally, realized gains or losses from foreign currency on cash and investments held were previously included in other income (expense), net. Amounts for the year ended December 31, 2020 and 2019 have been reclassified to be consistent with the classifications for the year ended December 31, 2021.

Net Income Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Net Income Per Share

NOTE O – Net Income Per Share

The components and calculation of basic and diluted net income per share were as follows:

	Year Ended December 31,
(in thousands, except per share amounts)	2021		2020		2019
Numerator
Net income	$	44,597	$	45,586	$	33,712
Denominator
Weighted average common shares outstanding, basic		35,928		35,226		35,024
Options to purchase common stock		529		611		680
PSUs, RSUs, RSAs, and DSUs		505		448		298
Weighted average common shares outstanding, diluted		36,962		36,285		36,002
Net income per share
Basic	$	1.24	$	1.29	$	0.96
Diluted	$	1.21	$	1.26	$	0.94

The number of the outstanding potential common shares that were excluded from the calculation of diluted net income per share as they were anti-dilutive were as follows:

	Year Ended December 31,
(in thousands)	2021	2020	2019
Antidilutive shares	31	26	181

Retirement Savings Plan

12 Months Ended

Dec. 31, 2021

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, and we match 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 as follows:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Retirement contributions	$	4,790	$	3,889	$	3,306

The entire disclosure for retirement benefits.

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Geographic Information

12 Months Ended

Dec. 31, 2021

Related Party Transactions

Geographic Information

NOTE Q – Geographic Information

Revenue

The percentage of domestic revenue, which we define as the percentage of consolidated revenue that was attributable to customers based within the U.S was as follows:

	Year Ended December 31,
	2021			2020			2019
Domestic revenue		84	%		85	%		85	%

No single jurisdiction outside of the U.S. had revenues in excess of 10%.

Property and Equipment

The percentage of property and equipment, net located at subsidiary and office locations outside of the United States was as follows:

	December 31,
	2021			2020
International property and equipment		12	%		15	%

Related Party Transactions

12 Months Ended

Dec. 31, 2021

NOTE R– 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 corporate officers. These directors receive no compensation from the Foundation or us 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 have no current legal obligations for future commitments to the Foundation. Our contributions to the Foundation were as follows:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Foundation contributions	$	2,400	$	1,800	$	10

General (Policies)

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Business Description

Basis of Presentation

Foreign Currency Translation

Use of Estimates

Business Combinations

Segment Information

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.

Investments

We determine the appropriate classification of certificates of deposit and marketable securities at the time of purchase and reevaluate such determination at each balance sheet date.

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.

Accounts Receivable

Property and Equipment

The estimated useful lives of property and equipment were as follows:

		Estimated Useful Life
Computer equipment and software		2-3 years
Office equipment and furniture		5-7 years
Leasehold improvements		Shorter of the useful life of the asset or the remaining term of the lease
Internal-use software		3 years

Leases

Research and Development

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

Goodwill

Intangible Assets

The purchased intangible assets are being amortized on a straight-line basis over their estimated useful lives.

The estimated useful lives for intangible were as follows:

		Estimated Useful Life
Subscriber relationships		7-10 years
Acquired technology		3-10 years

Third Party Implementation 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

Revenues are the amount that reflects the consideration we are contractually and legally entitled to, as well as expect to collect, 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

Customer implementation costs are based on actual costs incurred. Related amortization expense is included in cost of revenues in the accompanying consolidated statements of comprehensive income.

Stock-Based Compensation

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.

Income Taxes

It is our practice to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense.

Net Income Per Share

Accounting Pronouncements Not Yet Adopted

Standard

Date of Issuance

Description

Date of Required Adoption

Effect on the Financial Statements

ASU 2021-08, Business Combinations (Topic 805) - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers

October 2021

This amendment requires that an acquirer recognize and

measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, effective for all business combinations in the year of adoption and thereafter.

January 2023

The adoption of this standard may have a material impact on the purchase accounting for business combinations depending on the specific amount of contract assets and liabilities being acquired.

General (Tables)

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Summary of Estimated Useful Lives of Property and Equipment

The estimated useful lives of property and equipment were as follows:

		Estimated Useful Life
Computer equipment and software		2-3 years
Office equipment and furniture		5-7 years
Leasehold improvements		Shorter of the useful life of the asset or the remaining term of the lease
Internal-use software		3 years

Summary of Estimated Useful Lives of Intangible Assets

The estimated useful lives for intangible were as follows:

		Estimated Useful Life
Subscriber relationships		7-10 years
Acquired technology		3-10 years

Business Acquisitions (Tables) - Genius Central [Member]

12 Months Ended

Dec. 31, 2021

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)	Estimated Fair Value
Cash	$	205
Accounts receivable, net		353
Deferred tax assets		1,877
Other current and non-current assets		115
Goodwill		8,914
Intangible assets		8,500
Current liabilities		(238	)
Deferred revenue		(146	)
Deferred tax liabilities		(2,167	)
	$	17,413

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:


			Weighted Average
	Estimated		Estimated
(in thousands, except weighted average estimated useful life)	Fair Value		Useful Life
Subscriber relationships	$	6,400	9 years
Acquired technology		2,100	7 years
Total	$	8,500

Revenue (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Revenues by Revenue Stream

We derive our revenues from the following revenue streams:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Recurring revenues:
Fulfillment	$	306,851	$	251,272	$	219,297
Analytics		42,674		38,824		37,038
Other		5,481		4,920		5,671
Recurring Revenues		355,006		295,016		262,006
One-time revenues		30,270		17,614		17,118
Total revenue	$	385,276	$	312,630	$	279,124

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:

	Year Ended December 31,
(in thousands)	2021			2020
Balance, beginning of year	$	11,118		$	10,518
Invoiced set-up fees		15,931			11,410
Recognized set-up fees		(12,590	)		(10,810	)
Balance, end of year	$	14,459		$	11,118

Deferred Costs (Tables)

12 Months Ended

Dec. 31, 2021

Deferred Costs [Abstract]

Summary of Deferred Costs Activity

The deferred costs activity was as follows:

	Year Ended December 31,
(in thousands)	2021			2020
Balance, beginning of year	$	50,595		$	46,941
Incurred deferred costs		64,076			54,421
Amortized deferred costs		(54,951	)		(50,767	)
Balance, end of year	$	59,720		$	50,595

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Financial Instruments Owned At Fair Value [Abstract]

Summary of Cash Equivalents and Investments

Cash equivalents and investments consisted of the following:

	December 31,
	2021							2020
	Amortized		Unrealized Gains					Amortized		Unrealized
(in thousands)	Cost		(Losses), net			Fair Value		Cost		Losses, net			Fair Value
Cash equivalents:
Money market funds	$	138,205	$	—		$	138,205	$	112,907	$	—		$	112,907
Certificate of deposit		7,268		—			7,268		7,708		—			7,708
Marketable securities:
U.S. corporate bonds		—		—			—		5,069		(29	)		5,040
Commercial paper		34,984		7			34,991		7,569		(55	)		7,514
U.S. treasury securities		7,500		(1	)		7,499		20,051		(27	)		20,024
	$	187,957	$	6		$	187,963	$	153,304	$	(111	)	$	153,193
Maturing within one year						$	187,963						$	150,693
Maturing within one to two years							—							2,500
Total						$	187,963						$	153,193

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

The following table details the fair value hierarchy of our assets and liabilities measured at a fair value on a recurring basis:

	December 31, 2021
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	138,205	$	—	$	—	$	138,205
Certificate of deposit		7,268		—		—		7,268
Marketable securities:
U.S. corporate bonds		—		—		—		—
Commercial paper		—		34,991		—		34,991
U.S. treasury securities		—		7,499		—		7,499
	$	145,473	$	42,490	$	—	$	187,963

	December 31, 2020
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	112,907	$	—	$	—	$	112,907
Certificate of deposit		7,708		—		—		7,708
Marketable securities:
U.S. corporate bonds		—		5,040		—		5,040
Commercial paper		—		7,514		—		7,514
U.S. treasury securities		—		20,024		—		20,024
	$	120,615	$	32,578	$	—	$	153,193

Liabilities:
Contingent consideration	$	—	$	—	$	1,878	$	1,878
	$	—	$	—	$	1,878	$	1,878

Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2021

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:

	Year Ended December 31,
(in thousands)	2021			2020			2019
Balance, beginning of year	$	4,233		$	1,469		$	1,392
Provision for credit losses		4,717			5,660			3,499
Write-offs, net of recoveries		(4,790	)		(4,319	)		(3,422	)
Initial allowance for business combination acquired receivables		89			354			—
Adoption of ASU 2016-13		—			1,069			—
Balance, end of year	$	4,249		$	4,233		$	1,469

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following:

	December 31,
(in thousands)	2021			2020
Internally developed software	$	44,981		$	33,565
Computer equipment		29,329			29,660
Office equipment and furniture		10,972			9,613
Leasehold improvements		16,685			12,746
Property and equipment, cost		101,967			85,584
Less: accumulated depreciation and amortization		(70,066	)		(59,152	)
Total property and equipment, net	$	31,901		$	26,432

Schedule of Depreciation and Amortization Expense of Property and Equipment

Depreciation and amortization expense of property and equipment was as follows:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Depreciation and amortization expense	$	14,788	$	13,127	$	11,123

Goodwill and Intangible Assets, net (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Activity in Goodwill

The activity in goodwill was as follows:

	Year Ended December 31,
(in thousands)	2021			2020
Balance, beginning of year	$	134,853		$	76,845
Additions from business acquisitions		8,914			56,960
Remeasurement from provisional purchase accounting amount		268			—
Foreign currency translation		(372	)		1,048
Balance, end of year	$	143,663		$	134,853

Intangible Assets

Intangible assets, net consisted of the following:

	December 31, 2021
(in thousands, except weighted average amortization period)	Gross Carrying Amount		Accumulated Amortization			Foreign Currency Translation			Net		Weighted Average Remaining Amortization Period
Subscriber relationships	$	61,270	$	(29,866	)	$	(1,395	)	$	30,009	6 years
Acquired technology		35,316		(6,738	)		—			28,578	7 years
	$	96,586	$	(36,604	)	$	(1,395	)	$	58,587	7 years

	December 31, 2020
(in thousands, except weighted average amortization period)	Gross Carrying Amount		Accumulated Amortization			Foreign Currency Translation			Net		Weighted Average Remaining Amortization Period
Subscriber relationships	$	54,447	$	(24,792	)	$	101		$	29,756	6 years
Non-competition agreements		698		(691	)		(4	)		3	0 years
Acquired technology		33,195		(2,724	)		—			30,471	8 years
	$	88,340	$	(28,207	)	$	97		$	60,230	7 years

Estimated Annual Amortization Expense Related to Intangible Assets

The estimated future annual amortization expense related to intangible assets is as follows:

(in thousands)
2022	$	9,883
2023		9,808
2024		8,534
2025		8,396
2026		7,392
Thereafter		14,574
Total future amortization	$	58,587

Other Assets (Tables)

12 Months Ended

Dec. 31, 2021

Other Assets [Abstract]

Summary of Activity in Capitalized Implementation Costs for Software Hosting Arrangements

The activity in the capitalized implementation costs for software hosting arrangements was as follows:

	Year Ended December 31,
(in thousands)	2021			2020
Balance, beginning of year	$	1,181		$	1,166
Capitalized implementation fees		130			127
Amortization of implementation fees		(229	)		(112	)
Balance, end of year	$	1,082		$	1,181

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

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

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

	December 31, 2021			December 31, 2020
(in thousands, except remaining term)	Right-of-Use Asset		Remaining Term	Right-of-Use Asset		Remaining Term
Minneapolis, MN lease	$	6,837	5 years	$	10,992	6 years
Kyiv, Ukraine lease		1,530	3 years		1,930	4 years
Other leases		2,484	<1 - 5 years		2,659	<1 - 5 years
	$	10,851		$	15,581

Components of Lease Expense

The components of lease expense were as follows:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Operating lease cost	$	3,089	$	2,719	$	2,569
Variable lease cost		3,660		3,578		3,390
	$	6,749	$	6,297	$	5,959

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

	December 31,
(in thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	3,757	$	4,134
Right-of-use assets obtained in exchange for operating lease liabilities		992		12,801

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

	December 31, 2021			December 31, 2020
Weighted-average remaining lease term - operating leases	4.8 years			5.6 years
Weighted-average discount rate - operating leases		4.0	%		4.1	%

Schedule of Future Minimum Payments Under Operating Leases

At December 31, 2021, our future minimum payments under operating leases were as follows:

(in thousands)
2022	$	4,865
2023		4,687
2024		4,257
2025		3,859
2026		3,772
Thereafter		1,269
Total future payments		22,709
Less: imputed interest		(2,175	)
Total operating lease liabilities	$	20,534

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Summary of Stock Repurchase Program Plans and Activity

Our board of directors has authorized multiple non-concurrent programs to repurchase our common stock. Details of the plans and activity thereunder was as follows:

(in thousands)	Effective Date	Expiration Date	Share Value Authorized for Repurchase		Share Value Repurchased		Unused & Expired Share Repurchase Value		Share Value Available for Future Repurchase
2017 Program	Nov. 2017	Nov. 2019	$	50,000	$	46,297	$	3,703	N/A
2019 Program	Nov. 2019	Nov. 2021		50,000		29,611		20,389	N/A
2021 Program	Nov. 2021	Nov. 2023		50,000		9,769	N/A		$	40,231

Summary of Stock Repurchase Activity by Year

The stock repurchase activity by year was as follows:

	Year Ended December 31,
(in thousands, except share data)	2021		2020		2019
Shares repurchased cost	$	20,430	$	18,950	$	20,618
Shares repurchased		176,103		371,902		417,564

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation Expense

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

	Year Ended December 31,
(in thousands)	2021		2020		2019
Cost of revenues	$	6,760	$	3,948	$	2,819
Operating expenses
Sales and marketing		6,248		4,119		2,946
Research and development		4,384		3,626		2,651
General and administrative		10,182		7,243		6,274
	$	27,574	$	18,936	$	14,690

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

	Year Ended December 31,
(in thousands)	2021		2020		2019
Stock options	$	2,057	$	2,232	$	3,211
PSUs		6,417		3,219		1,379
RSUs		15,388		10,367		7,553
RSAs & DSUs		434		446		519
ESPP		1,391		1,117		701
401(k) stock match		1,887		1,555		1,327
	$	27,574	$	18,936	$	14,690

Stock Option Activity

Our stock option activity was as follows:

				Weighted Average
	Options			Exercise Price
	(#)			($/share)
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
Granted		127,974			59.02
Exercised		(712,074	)		26.11
Forfeited		(14,926	)		43.14
Outstanding at December 31, 2020		944,886			36.71
Granted		53,223			105.53
Exercised		(311,378	)		30.10
Forfeited		(8,081	)		68.62
Outstanding at December 31, 2021		678,650			44.76

Summary of Additional Information Related to Stock Options

The table below presents additional information related to our stock options:

	Year Ended December 31,
(in thousands, except per share data)	2021		2020		2019
Fair value of options vested	$	2,509	$	3,000	$	3,393
Intrinsic value of options exercised		27,713		31,737		11,103
Intrinsic value of options outstanding		66,235		67,918		39,194
Weighted-average fair value per share of options granted		31.31		16.18		16.86

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 following weighted-average assumptions:

	Year Ended December 31,
	2021			2020			2019
Volatility		35	%		33	%		33	%
Dividend yield		—			—			—
Life (in years)		4.4			4.0			4.4
Risk-free interest rate		0.59	%		0.99	%		2.41	%

PSU, RSU, RSA, and DSU

Activity for our PSUs, RSUs, RSAs, and DSUs in aggregate was as follows:

				Weighted Average
				Grant Date Fair
	(#)			Value ($/share)
Outstanding at December 31, 2018		758,334			29.99
Granted		288,462			55.69
Vested and common stock issued		(217,424	)		31.05
Forfeited		(31,826	)		34.67
Outstanding at December 31, 2019		797,546			38.80
Granted		331,264			62.78
Vested and common stock issued		(222,606	)		36.06
Forfeited		(167,782	)		30.09
Outstanding at December 31, 2020		738,422			52.37
Granted		314,290			101.85
Vested and common stock issued		(331,669	)		44.14
Forfeited		(18,883	)		66.35
Outstanding at December 31, 2021		702,160			78.03

Summary of ESPP Activity

Our ESPP activity was as follows:

	Year Ended December 31,
(in thousands, except share data)	2021		2020		2019
Amounts for shares purchased	$	4,737	$	3,374	$	2,270
Shares purchased		55,726		61,833		58,851

Fair Value Estimation of Common Stock, Assumptions

The fair value was estimated based on the market price of our common stock at the beginning of each offering period using the following assumptions:

	Year Ended December 31,
	2021			2020			2019
Volatility		32	%		43	%		36	%
Dividend yield		—			—			—
Life (in years)		0.50			0.50			0.50
Risk-free interest rate		0.07	%		0.96	%		2.36	%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

Our provision for income taxes was comprised of the following components:

	Year Ended December 31,
(in thousands)	2021			2020			2019
Current
Federal	$	1,559		$	-		$	-
State		1,890			1,249			599
Foreign		1,610			1,608			169
Deferred
Federal		4,294			4,462			6,595
State		(88	)		244			1,156
Foreign		(321	)		(469	)		(161	)
	$	8,944		$	7,094		$	8,358

Schedule of Income Tax Expense Differed from Amounts Computed by applying U.S. Federal Income Tax Rate to Pretax Income

Our income tax expense differed from the amounts computed by applying the U.S. federal income tax rate to pretax income as a result of the following:

	Year Ended December 31,
	2021			2020			2019
U.S. statutory federal income tax rate		21.0	%		21.0	%		21.0	%
Increase (decrease) resulting from:
U.S. state income taxes, net of federal tax effect		4.5			4.5			4.6
Tax impact of stock activity		(12.8	)		(12.9	)		(6.0	)
Nondeductible compensation		5.0			1.8			2.2
Research and development credit		(1.1	)		(0.6	)		(3.0	)
Foreign derived intangible income		(1.3	)		(1.3	)	-
Other		1.4			1.0			1.1
Effective tax rate		16.7	%		13.5	%		19.9	%

Significant Components of Deferred Tax Assets (Liabilities)

The significant components of our deferred tax assets and liabilities were as follows:

	December 31,
(in thousands)	2021			2020
Deferred tax assets
Net operating loss and credit carryforwards	$	4,828		$	4,539
Stock-based compensation expense		3,934			3,605
Accounts receivable allowances		1,336			1,228
Accrued expenses		5,174			3,200
Deferred revenue		1,300			695
Operating lease liabilities		5,235			5,435
Other		142			660
Gross deferred tax assets		21,949			19,362
Less: valuation allowance		(1,815	)		(1,582	)
Total net deferred tax assets		20,134			17,780

Deferred tax liabilities
Deferred costs	$	(15,126	)	$	(12,561	)
Right-of-use assets		(2,787	)		(3,754	)
Foreign operations		(364	)		(228	)
Depreciation and amortization		(8,820	)		(3,980	)
Other		—			—
Total deferred tax liabilities		(27,097	)		(20,523	)
Net deferred tax liabilities	$	(6,963	)	$	(2,743	)

Other Income (Tables)

12 Months Ended

Dec. 31, 2021

Other Income And Expenses [Abstract]

Summary of Other Income (Expense), Net

Other income (expense), net included the following:

	Year Ended December 31,
(in thousands)	2021			2020			2019
Investment income	$	278		$	1,208		$	2,947
Realized gain (loss) from foreign currency on cash and investments held		(1,456	)		1,753			-
Change in earn-out liability		-			(85	)		(445	)
Other		(366	)		(354	)		1,162
Total other income (expense), net	$	(1,544	)	$	2,522		$	3,664

Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Components of Computation of Basic and Diluted Net Income Per Share

The components and calculation of basic and diluted net income per share were as follows:

	Year Ended December 31,
(in thousands, except per share amounts)	2021		2020		2019
Numerator
Net income	$	44,597	$	45,586	$	33,712
Denominator
Weighted average common shares outstanding, basic		35,928		35,226		35,024
Options to purchase common stock		529		611		680
PSUs, RSUs, RSAs, and DSUs		505		448		298
Weighted average common shares outstanding, diluted		36,962		36,285		36,002
Net income per share
Basic	$	1.24	$	1.29	$	0.96
Diluted	$	1.21	$	1.26	$	0.94

Schedule of Anti-dilutive Common Shares Excluded from Calculation of Diluted Net Income Per Share

The number of the outstanding potential common shares that were excluded from the calculation of diluted net income per share as they were anti-dilutive were as follows:

	Year Ended December 31,
(in thousands)	2021	2020	2019
Antidilutive shares	31	26	181

Retirement Savings Plan (Tables)

12 Months Ended

Dec. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Schedule of Total Contribution to the Plan

Our total contributions to the plan were as follows:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Retirement contributions	$	4,790	$	3,889	$	3,306

Geographic Information (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Domestic Revenue

The percentage of domestic revenue, which we define as the percentage of consolidated revenue that was attributable to customers based within the U.S was as follows:

	Year Ended December 31,
	2021			2020			2019
Domestic revenue		84	%		85	%		85	%

Summary of Percentage of Property and Equipment Net Located at Subsidiary and Office Locations Outside of Unites States

The percentage of property and equipment, net located at subsidiary and office locations outside of the United States was as follows:

	December 31,
	2021			2020
International property and equipment		12	%		15	%

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Contributions to Foundation

Our contributions to the Foundation were as follows:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Foundation contributions	$	2,400	$	1,800	$	10

General - Additional Information (Detail)		12 Months Ended
General - Additional Information (Detail)	Aug. 08, 2019	Dec. 31, 2021 Segment
Schedule of Accounting Policies [Line Items]
Stock split ratio	2
Percentage of stock dividend from stock split	100.00%
Number of reportable segment		1
Number of operating segment		1
Deferred commission expected amortization period		2 years
Minimum [Member]
Schedule of Accounting Policies [Line Items]
Hosting services arrangement period		4 years
Maximum [Member]
Schedule of Accounting Policies [Line Items]
Hosting services arrangement period		6 years

General - Summary of Estimated Useful Lives of Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2021
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
Leasehold Improvements [Member]
Schedule of Accounting Policies [Line Items]
Estimated useful lives of property and equipment description	Shorter of the useful life of the asset or the remaining term of the lease
Internal-use Software [Member]
Schedule of Accounting Policies [Line Items]
Estimated useful lives of property and equipment	3 years

General - Summary of Estimated Useful Lives of Intangible Assets (Detail)	12 Months Ended
	Dec. 31, 2021
Subscriber Relationships [Member] \| Minimum [Member]
Schedule of Accounting Policies [Line Items]
Estimated useful lives of intangible assets	7 years
Subscriber Relationships [Member] \| Maximum [Member]
Schedule of Accounting Policies [Line Items]
Estimated useful lives of intangible assets	10 years
Acquired Technology [Member] \| Minimum [Member]
Schedule of Accounting Policies [Line Items]
Estimated useful lives of intangible assets	3 years
Acquired Technology [Member] \| Maximum [Member]
Schedule of Accounting Policies [Line Items]
Estimated useful lives of intangible assets	10 years

Business Acquisitions - Additional Information (Detail) - USD ($) $ in Millions	Nov. 03, 2021	Dec. 31, 2021
Genius Central [Member]
Business Acquisition [Line Items]
Total transaction price	$ 17.4
Payments to acquire businesses, gross	17.3
Business combination due to sellers related within initial net working capital adjustment	$ 0.1
Data Masons [Member]
Business Acquisition [Line Items]
Business combination due to sellers related within initial net working capital adjustment		$ 0.3

Business Acquisitions - Estimated Fair Values of Assets Acquired and Liabilities Assumed at Acquisition Date (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Nov. 03, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Goodwill	$ 143,663		$ 134,853	$ 76,845
Genius Central [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Cash		$ 205
Accounts receivable, net		353
Deferred tax assets		1,877
Other current and non-current assets		115
Goodwill		8,914
Intangible assets		8,500
Current liabilities		(238)
Deferred revenue		(146)
Deferred tax liabilities		(2,167)
Total purchase price		$ 17,413

Business Acquisitions - Estimated Fair Value of Purchased Intangible Assets and Estimated Useful Lives (Detail) - Genius Central [Member] $ in Thousands	Nov. 03, 2021 USD ($)
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 8,500
Acquired Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 2,100
Weighted Average Estimated Useful Life	7 years
Subscriber Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 6,400
Weighted Average Estimated Useful Life	9 years

Revenue - Summary of Revenues by Revenue Stream (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue Recognition [Line Items]
Revenues	$ 385,276	$ 312,630	$ 279,124
Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues	355,006	295,016	262,006
One-time Revenues [Member]
Revenue Recognition [Line Items]
Revenues	30,270	17,614	17,118
Fulfillment [Member] \| Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues	306,851	251,272	219,297
Analytics [Member] \| Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues	42,674	38,824	37,038
Other [Member] \| Recurring Revenues [Member]
Revenue Recognition [Line Items]
Revenues	$ 5,481	$ 4,920	$ 5,671

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

Revenue - Additional Information (Detail) $ in Millions	12 Months Ended
Revenue - Additional Information (Detail) $ in Millions	Dec. 31, 2021 USD ($)
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
Deferred revenue	$ 37.9
Minimum [Member]
Disaggregation Of Revenue [Line Items]
Customer contract cancellation period	30 days
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

Revenue - Summary of Deferred Revenue Liability Relating to Set-Up Fees (Detail) - Set-Up Fees [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Deferred Revenue Arrangement [Line Items]
Balance, beginning of year	$ 11,118	$ 10,518
Invoiced set-up fees	15,931	11,410
Recognized set-up fees	(12,590)	(10,810)
Balance, end of year	$ 14,459	$ 11,118

Deferred Costs - Summary of Deferred Costs Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs [Abstract]
Balance, beginning of year	$ 50,595	$ 46,941
Incurred deferred costs	64,076	54,421
Amortized deferred costs	(54,951)	(50,767)
Balance, end of year	$ 59,720	$ 50,595

Financial Instruments - Summary of Cash Equivalents and Investments (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Financial Instruments [Line Items]
Amortized Cost	$ 187,957	$ 153,304
Unrealized Gains (Losses), net	6	(111)
Fair Value	187,963	153,193
Maturing within one year	187,963	150,693
Maturing within one to two years		2,500
Money Market Funds [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	138,205	112,907
Fair Value	138,205	112,907
Certificates of Deposit [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	7,268	7,708
Fair Value	7,268	7,708
U.S. Corporate Bonds [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost		5,069
Unrealized Gains (Losses), net		(29)
Fair Value		5,040
Commercial Paper [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	34,984	7,569
Unrealized Gains (Losses), net	7	(55)
Fair Value	34,991	7,514
U.S. Treasury Securities [Member]
Schedule of Financial Instruments [Line Items]
Amortized Cost	7,500	20,051
Unrealized Gains (Losses), net	(1)	(27)
Fair Value	$ 7,499	$ 20,024

Financial Instruments - Summary of Fair Value Hierarchy Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	$ 187,963	$ 153,193
Liabilities fair value		1,878
Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	145,473	120,615
Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	42,490	32,578
Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Liabilities fair value		1,878
Money Market Funds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	138,205	112,907
Money Market Funds [Member] \| Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	138,205	112,907
Certificates of Deposit [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	7,268	7,708
Certificates of Deposit [Member] \| Level 1 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	7,268	7,708
U.S. Corporate Bonds [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value		5,040
U.S. Corporate Bonds [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value		5,040
Commercial Paper [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	34,991	7,514
Commercial Paper [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	34,991	7,514
U.S. Treasury Securities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	7,499	20,024
U.S. Treasury Securities [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets fair value	$ 7,499	20,024
Contingent Consideration Liability
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Liabilities fair value		1,878
Contingent Consideration Liability \| Level 3 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Liabilities fair value		$ 1,878

Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Payment contingent consideration liability	$ 2,042	$ 688
Data Masons [Member] \| PPP Loan [Member] \| Former Owners [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Contingent consideration liability	1,900
Payment contingent consideration liability	$ 1,900

Allowance for Credit Losses - Schedule of Allowance for Credit Losses Activity Included in Accounts Receivable Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance For Credit Loss [Abstract]
Balance, beginning of year	$ 4,233	$ 1,469	$ 1,392
Provision for credit losses	4,717	5,660	3,499
Write-offs, net of recoveries	(4,790)	(4,319)	(3,422)
Initial allowance for business combination acquired receivables	89	354
Adoption of ASU 2016-13		1,069
Balance, end of year	$ 4,249	$ 4,233	$ 1,469

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, cost	$ 101,967	$ 85,584
Less: accumulated depreciation and amortization	(70,066)	(59,152)
Total property and equipment, net	31,901	26,432
Internally Developed Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, cost	44,981	33,565
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, cost	29,329	29,660
Office Equipment and Furniture [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, cost	10,972	9,613
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, cost	$ 16,685	$ 12,746

Property and Equipment, net - Schedule of Depreciation and Amortization Expense of Property and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Depreciation and amortization of property and equipment	$ 14,788	$ 13,127	$ 11,123

Goodwill and Intangible Assets, net - Schedule of Activity in Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Balance, beginning of year	$ 134,853	$ 76,845
Additions from business acquisitions	8,914	56,960
Remeasurement from provisional purchase accounting amount	268
Foreign currency translation	(372)	1,048
Balance, end of year	$ 143,663	$ 134,853

Goodwill and Intangible Assets, net - Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 96,586	$ 88,340
Accumulated Amortization	(36,604)	(28,207)
Foreign Currency Translation	(1,395)	97
Net	$ 58,587	$ 60,230
Weighted Average Remaining Amortization Period	7 years	7 years
Subscriber Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 61,270	$ 54,447
Accumulated Amortization	(29,866)	(24,792)
Foreign Currency Translation	(1,395)	101
Net	$ 30,009	$ 29,756
Weighted Average Remaining Amortization Period	6 years	6 years
Acquired Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 35,316	$ 33,195
Accumulated Amortization	(6,738)	(2,724)
Net	$ 28,578	$ 30,471
Weighted Average Remaining Amortization Period	7 years	8 years
Non-competition Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 698
Accumulated Amortization		(691)
Foreign Currency Translation		(4)
Net		$ 3
Weighted Average Remaining Amortization Period		0 years

Goodwill and Intangible Assets, net - Estimated Future Annual Amortization Expense Related to Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
2022	$ 9,883
2023	9,808
2024	8,534
2025	8,396
2026	7,392
Thereafter	14,574
Net	$ 58,587	$ 60,230

Other Assets - Summary of Activity in Capitalized Implementation Costs for Software Hosting Arrangements (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Capitalized Computer Software Net [Abstract]
Balance, beginning of year	$ 1,181	$ 1,166
Capitalized implementation fees	130	127
Amortization of implementation fees	(229)	(112)
Balance, end of year	$ 1,082	$ 1,181

Commitments and Contingencies - Summary of Non-Cancellable Operating Leases, Primarily for Office Space (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Lessee Lease Description [Line Items]
Right-of-Use Asset	$ 10,851	$ 15,581
Minneapolis, MN Lease [Member]
Lessee Lease Description [Line Items]
Right-of-Use Asset	$ 6,837	$ 10,992
Remaining Term	5 years	6 years
Kyiv, Ukraine Lease [Member]
Lessee Lease Description [Line Items]
Right-of-Use Asset	$ 1,530	$ 1,930
Remaining Term	3 years	4 years
Other Leases [Member]
Lessee Lease Description [Line Items]
Right-of-Use Asset	$ 2,484	$ 2,659
Other Leases [Member] \| Minimum [Member]
Lessee Lease Description [Line Items]
Remaining Term	1 year	1 year
Other Leases [Member] \| Maximum [Member]
Lessee Lease Description [Line Items]
Remaining Term	5 years	5 years

Commitments and Contingencies - Additional Information (Detail) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2019 ft² Option	Dec. 31, 2020 ft² Option	Dec. 31, 2021 USD ($)
Commitments And Contingencies [Line Items]
Remaining purchase commitment \| $			$ 9.9
Kyiv, Ukraine Lease [Member]
Commitments And Contingencies [Line Items]
Number of options to extend term of the lease \| Option	1
Lease extension period, number of years	5 years 6 months
Kyiv, Ukraine Lease [Member] \| Lease Agreement Expires on May 31, 2025 [Member]
Commitments And Contingencies [Line Items]
Current leased space \| ft²	17,000
Lease agreement expires, year	2025
Current Headquarters [Member]
Commitments And Contingencies [Line Items]
Lease agreement expires, year		2027
Number of options to extend term of the lease \| Option		2
Lease extension period, number of years		5 years
Current Headquarters [Member] \| Minneapolis, Minnesota [Member]
Commitments And Contingencies [Line Items]
Current leased space \| ft²		198,000

Commitments and Contingencies - Components of Lease Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 3,089	$ 2,719	$ 2,569
Variable lease cost	3,660	3,578	3,390
Lease expense	$ 6,749	$ 6,297	$ 5,959

Commitments and Contingencies - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 3,757	$ 4,134
Right-of-use assets obtained in exchange for operating lease liabilities	$ 992	$ 12,801

Commitments and Contingencies - Schedule of Supplemental Balance Sheet Information Related to Leases (Detail)	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term - operating leases	4 years 9 months 18 days	5 years 7 months 6 days
Weighted-average discount rate - operating leases	4.00%	4.10%

Commitments and Contingencies - Schedule of Future Minimum Payments Under Operating Leases (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 4,865
2023	4,687
2024	4,257
2025	3,859
2026	3,772
Thereafter	1,269
Total future payments	22,709
Less: imputed interest	(2,175)
Total operating lease liabilities	$ 20,534

Stockholders' Equity - Summary of Stock Repurchase Program Plans and Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class Of Stock [Line Items]
Share Value Repurchased	$ 20,430	$ 18,950	$ 20,618
2017 Program [Member] \| Common Stock [Member]
Class Of Stock [Line Items]
Effective Date	Nov. 30, 2017
Expiration Date	Nov. 30, 2019
Share Value Authorized for Repurchase	$ 50,000
Share Value Repurchased	46,297
Unused & Expired Share Repurchase Value	$ 3,703
2019 Program [Member] \| Common Stock [Member]
Class Of Stock [Line Items]
Effective Date	Nov. 30, 2019
Expiration Date	Nov. 30, 2021
Share Value Authorized for Repurchase	$ 50,000
Share Value Repurchased	29,611
Unused & Expired Share Repurchase Value	$ 20,389
2021 Program [Member] \| Common Stock [Member]
Class Of Stock [Line Items]
Effective Date	Nov. 30, 2021
Expiration Date	Nov. 30, 2023
Share Value Authorized for Repurchase	$ 50,000
Share Value Repurchased	9,769
Share Value Available for Future Repurchase	$ 40,231

Stockholders' Equity - Summary of Stock Repurchase Activity by Year (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class Of Stock [Line Items]
Shares repurchased cost	$ 20,430	$ 18,950	$ 20,618
Common Stock [Member]
Class Of Stock [Line Items]
Shares repurchased	176,103	371,902	417,564
Stock Repurchase Program [Member] \| Common Stock [Member]
Class Of Stock [Line Items]
Shares repurchased cost	$ 20,430	$ 18,950	$ 20,618
Shares repurchased	176,103	371,902	417,564

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($) Offering $ / shares shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	13,500,000
Unrecognized stock-based compensation expense \| $	$ 30.4
Unrecognized stock-based compensation, expected to be recognized, weighted average period	2 years 3 months 18 days
Vesting period	1 year
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of offerings per year \| Offering	2
Common stock reserved for future issuance	1,800,000
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of delayed receipt of common shares	10 years
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%
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Outstanding and exercisable options	500,000
Weighted average exercise price \| $ / shares	$ 38.72
Weighted average remaining contractual life	3 years 3 months 18 days
Stock Options [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options contractual term range	7 years
Performance Share Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years	3 years	3 years	3 years
Shares of common stock issued	100,000
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]
Vesting period	1 year
PSU, RSU and DSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested and not issued during the period	100,000

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 27,574	$ 18,936	$ 14,690
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	2,057	2,232	3,211
PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	6,417	3,219	1,379
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	15,388	10,367	7,553
RSAs & DSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	434	446	519
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,391	1,117	701
401(k) Stock Match [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,887	1,555	1,327
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	6,760	3,948	2,819
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	6,248	4,119	2,946
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	4,384	3,626	2,651
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 10,182	$ 7,243	$ 6,274

Stock-Based Compensation - Stock Option Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options Outstanding, Beginning balance	944,886	1,543,912	1,746,468
Options, Granted	53,223	127,974	184,434
Options, Exercised	(311,378)	(712,074)	(346,098)
Options, Forfeited	(8,081)	(14,926)	(40,892)
Options Outstanding, Ending balance	678,650	944,886	1,543,912
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 36.71	$ 30.03	$ 25.93
Weighted Average Exercise Price, Granted	105.53	59.02	53.92
Weighted Average Exercise Price, Exercised	30.10	26.11	21.98
Weighted Average Exercise Price, Forfeited	68.62	43.14	30.74
Weighted Average Exercise Price, Outstanding, Ending Balance	$ 44.76	$ 36.71	$ 30.03

Stock-Based Compensation - Summary of Additional Information Related to Stock Options (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Fair value of options vested	$ 2,509	$ 3,000	$ 3,393
Intrinsic value of options exercised	27,713	31,737	11,103
Intrinsic value of options outstanding	$ 66,235	$ 67,918	$ 39,194
Weighted-average fair value per share of options granted	$ 31.31	$ 16.18	$ 16.86

Stock-Based Compensation - Weighted Average Fair Value Per Share of Options Granted, Assumptions (Detail) - Stock Options [Member]	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	35.00%	33.00%	33.00%
Dividend yield	0.00%	0.00%	0.00%
Life (in years)	4 years 4 months 24 days	4 years 3 days	4 years 5 months 4 days
Risk-free interest rate	0.59%	0.99%	2.41%

Stock-Based Compensation - PSU, RSU, RSA, and DSU (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards, Outstanding, Beginning Balance	738,422	797,546	758,334
Granted, stock units	314,290	331,264	288,462
Vested and common stock issued, stock units	(331,669)	(222,606)	(217,424)
Forfeited, stock units	(18,883)	(167,782)	(31,826)
Stock awards, Outstanding, Ending Balance	702,160	738,422	797,546
Weighted average grant date fair value, Outstanding, Beginning Balance	$ 52.37	$ 38.80	$ 29.99
Granted, Weighted Average Grant Date Fair Value	101.85	62.78	55.69
Vested and common stock issued, Weighted Average Grant Date Fair Value	44.14	36.06	31.05
Forfeited, Weighted Average Grant Date Fair Value	66.35	30.09	34.67
Weighted average grant date fair value, Outstanding, Ending Balance	$ 78.03	$ 52.37	$ 38.80

Stock-Based Compensation - Summary of ESPP Activity (Detail) - Employee Stock Purchase Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amounts for shares purchased	$ 4,737	$ 3,374	$ 2,270
Shares purchased	55,726	61,833	58,851

Stock-Based Compensation - Fair Value Estimation of Common Stock, Assumptions (Detail) - Employee Stock Purchase Plan [Member]	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	32.00%	43.00%	36.00%
Dividend yield	0.00%	0.00%	0.00%
Life (in years)	6 months	6 months	6 months
Risk-free interest rate	0.07%	0.96%	2.36%

Income Taxes - Schedule of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current
Federal	$ 1,559
State	1,890	$ 1,249	$ 599
Foreign	1,610	1,608	169
Deferred
Federal	4,294	4,462	6,595
State	(88)	244	1,156
Foreign	(321)	(469)	(161)
Total provision for income taxes	$ 8,944	$ 7,094	$ 8,358