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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Software Business Segment and Corporate & Other Category on a Consolidated Basis | The following tables present (for each of the Software Business segment and Corporate & Other category, and on a consolidated basis) the Company’s revenues and significant expenses regularly provided to the CODM, reconciled to net income (loss) (in thousands) for each of the periods presented. Total segment assets (in thousands) provided to the CODM are also disclosed in the tables below for each period presented.
|  | Year-Ended December 31, 2024 |
|  | Software Business |  |  | Corporate & Other |  |  | Total Consolidated |
Total revenues |  | $ | 463,456 |  |  |  |  |  | $ | 463,456 |
Significant expenses (1) |  |  |  |  |  |  |  |  |
Controllable |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | (105,782 | ) |  |  |  |  |  | (105,782 | )
Maintenance |  |  | (28,739 | ) |  |  |  |  |  | (28,739 | )
Consulting |  |  | (56,472 | ) |  |  |  |  |  | (56,472 | )
Cloud |  |  | (42,731 | ) |  |  |  |  |  | (42,731 | )
Technology |  |  | (105,140 | ) |  |  |  |  |  | (105,140 | )
Corporate resources |  |  | (85,479 | ) |  |  |  |  |  | (85,479 | )
Non-Controllable |  |  |  |  |  |  |  |  |
Digital asset impairment losses |  |  |  |  |  | (1,789,862 | ) |  |  | (1,789,862 | )
Digital asset custody fees |  |  |  |  |  | (5,956 | ) |  |  | (5,956 | )
Share-based compensation expense |  |  | (77,124 | ) |  |  |  |  |  | (77,124 | )
Payroll taxes on equity award exercises and vestings |  |  | (13,723 | ) |  |  |  |  |  | (13,723 | )
Other segment items (2) |  |  | (167 | ) |  |  | (1,753 | ) |  |  | (1,920 | )
Interest expense, net (3) |  |  |  |  |  | (61,941 | ) |  |  | (61,941 | )
Loss on debt extinguishment |  |  |  |  |  | (22,933 | ) |  |  | (22,933 | )
Income tax benefit (4) |  |  | 226,961 |  |  |  | 540,724 |  |  |  | 767,685 |
Net income (loss) |  | $ | 175,060 |  |  | $ | (1,341,721 | ) |  | $ | (1,166,661 | )
Total assets, as of December 31, 2024 (5) |  | $ | 743,190 |  |  | $ | 25,100,495 |  |  | $ | 25,843,685 |
|  | Year Ended December 31, 2023 |
|  | Software Business |  |  | Corporate & Other |  |  | Total Consolidated |
Total revenues |  | $ | 496,261 |  |  |  |  |  | $ | 496,261 |
Significant expenses (1) |  |  |  |  |  |  |  |  |
Controllable |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | (112,408 | ) |  |  |  |  |  | (112,408 | )
Maintenance |  |  | (20,058 | ) |  |  |  |  |  | (20,058 | )
Consulting |  |  | (61,019 | ) |  |  |  |  |  | (61,019 | )
Cloud |  |  | (31,466 | ) |  |  |  |  |  | (31,466 | )
Technology |  |  | (106,901 | ) |  |  |  |  |  | (106,901 | )
Corporate resources |  |  | (84,947 | ) |  |  |  |  |  | (84,947 | )
Non-Controllable |  |  |  |  |  |  |  |  |
Digital asset impairment losses |  |  |  |  |  | (115,851 | ) |  |  | (115,851 | )
Digital asset custody fees |  |  |  |  |  | (1,572 | ) |  |  | (1,572 | )
Share-based compensation expense |  |  | (69,571 | ) |  |  |  |  |  | (69,571 | )
Payroll taxes on equity award exercises and vestings |  |  | (820 | ) |  |  |  |  |  | (820 | )
Other segment items (2) |  |  | (10,717 | ) |  |  | (1,182 | ) |  |  | (11,899 | )
Interest expense, net (3) |  |  |  |  |  | (48,960 | ) |  |  | (48,960 | )
Gain on debt extinguishment |  |  |  |  |  | 44,686 |  |  |  | 44,686 |
Income tax benefit (4) |  |  | 10,553 |  |  |  | 543,093 |  |  |  | 553,646 |
Net income |  | $ | 8,907 |  |  | $ | 420,214 |  |  | $ | 429,121 |
Total assets, as of December 31, 2023 (5) |  | $ | 470,353 |  |  | $ | 4,292,175 |  |  | $ | 4,762,528 |
|  | Year Ended December 31, 2022 |
|  | Software Business |  |  | Corporate & Other |  |  | Total Consolidated |
Total revenues |  | $ | 499,264 |  |  |  |  |  | $ | 499,264 |
Significant expenses (1) |  |  |  |  |  |  |  |  |
Controllable |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | (106,348 | ) |  |  |  |  |  | (106,348 | )
Maintenance |  |  | (19,211 | ) |  |  |  |  |  | (19,211 | )
Consulting |  |  | (64,843 | ) |  |  |  |  |  | (64,843 | )
Cloud |  |  | (24,488 | ) |  |  |  |  |  | (24,488 | )
Technology |  |  | (115,225 | ) |  |  |  |  |  | (115,225 | )
Corporate resources |  |  | (86,541 | ) |  |  |  |  |  | (86,541 | )
Non-Controllable |  |  |  |  |  |  |  |  |
Digital asset impairment losses (gains on sale), net |  |  |  |  |  | (1,286,286 | ) |  |  | (1,286,286 | )
Digital asset custody fees |  |  |  |  |  | (1,870 | ) |  |  | (1,870 | )
Share-based compensation expense |  |  | (63,619 | ) |  |  |  |  |  | (63,619 | )
Payroll taxes on equity award exercises and vestings |  |  | (238 | ) |  |  |  |  |  | (238 | )
Other segment items (2) |  |  | 1,058 |  |  |  | (982 | ) |  |  | 76 |
Interest expense, net (3) |  |  |  |  |  | (53,136 | ) |  |  | (53,136 | )
Income tax provision (4) |  |  | (14,798 | ) |  |  | (132,534 | ) |  |  | (147,332 | )
Net income (loss) |  | $ | 5,011 |  |  | $ | (1,474,808 | ) |  | $ | (1,469,797 | )
(1) Significant expenses regularly provided to the CODM include both: (i) costs that the CODM considers to be “controllable”, for which the Company can manage future expense via the budgeting process (e.g. salaries, commissions, travel and entertainment expenses, third party-service provider fees, etc.), and that support each specific function of the Software Business (i.e. sales and marketing, maintenance, consulting, cloud, technology, and corporate resources) and (ii) costs that the CODM considers to be “non-controllable”, for which future expenses are primarily outside the Company’s control, such as digital asset impairment and custody fees, share-based compensation expense, and employer payroll taxes related to the exercise or vesting of certain awards under the Stock Incentive Plans. (2) Other segment items for the Software Business are primarily related to foreign currency transaction gains and losses, costs supporting the Company’s education function, one-time corporate initiatives, and certain expenses that are not easily allocable to specific functions. Other segment items for the Corporate & Other category are primarily related to third-party consulting and advisory fees. (3) Interest expense, net is substantially related to interest expense on the Company’s long-term debt arrangements, the proceeds from which were primarily used to purchase bitcoin. All of the Company’s interest income and expense are presented in the Corporate & Other category. (4) Income tax effects allocated to the Corporate & Other category are related solely to transactions involving the Company’s bitcoin or debt, including digital asset impairment, interest expense, gains and losses on debt extinguishments, and other third-party expenses. (5) Segment assets allocated to the Corporate & Other category are the Company’s digital assets and deferred tax assets related primarily to digital asset impairment losses and interest expense.
Total Revenues and Long-Lived Assets, by Geographic Region | The following table presents total revenues and long-lived assets (in thousands) according to geographic region. Long-lived assets are comprised of right-of-use assets and property and equipment, net.
Geographic regions: |  | U.S. |  |  | EMEA |  |  | Other Regions |  |  | Consolidated |
Total revenues |  |  |  |  |  |  |  |  |  |  |  |
Year ended December 31, 2024 |  | $ | 259,582 |  |  | $ | 155,923 |  |  | $ | 47,951 |  |  | $ | 463,456 |
Year ended December 31, 2023 |  | $ | 284,174 |  |  | $ | 155,914 |  |  | $ | 56,173 |  |  | $ | 496,261 |
Year ended December 31, 2022 |  | $ | 294,697 |  |  | $ | 152,614 |  |  | $ | 51,953 |  |  | $ | 499,264 |
Long-lived assets |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2024 |  | $ | 69,767 |  |  | $ | 3,556 |  |  | $ | 7,564 |  |  | $ | 80,887 |
As of December 31, 2023 |  | $ | 75,004 |  |  | $ | 3,937 |  |  | $ | 7,343 |  |  | $ | 86,284 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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