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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and International | The components of Income before income taxes consist of the following:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Domestic | $ | 98,188 |  |  | $ | (14,544) |  |  | $ | 61,470 |
International | 100,087 |  |  | 107,873 |  |  | 106,150 |
Income before income taxes | $ | 198,275 |  |  | $ | 93,329 |  |  | $ | 167,620 |
Schedule of Components of Income Tax | The (Provision) benefit for income taxes consists of the following:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Current: |  |  |  |  |
Federal | $ | (2,307) |  |  | $ | 770 |  |  | $ | (11,094) |
State | (1,387) |  |  | 163 |  |  | (3,597) |
Foreign | (22,715) |  |  | (17,230) |  |  | (7,688) |
| (26,409) |  |  | (16,297) |  |  | (22,379) |
Deferred: |  |  |  |  |
Federal | 3,547 |  |  | 15,182 |  |  | (5,194) |
State | 60 |  |  | 3,660 |  |  | (1,272) |
Foreign | 1,519 |  |  | 903 |  |  | (9,780) |
| 5,126 |  |  | 19,745 |  |  | (16,246) |
(Provision) benefit for income taxes | $ | (21,283) |  |  | $ | 3,448 |  |  | $ | (38,625) |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the U.S. statutory federal income tax rate to the Company’s effective income tax rate is as follows:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal benefit | 1.0 |  |  | (2.7) |  |  | 2.9 |
Stock-based compensation | (21.4) |  |  | (52.5) |  |  | (5.2) |
Non-deductible officer compensation | 11.0 |  |  | 36.6 |  |  | 4.6 |
Tax credits | (2.9) |  |  | (6.1) |  |  | (2.1) |
Withholding taxes | 2.8 |  |  | 5.8 |  |  | 2.0 |
Foreign tax rate differential | (2.0) |  |  | (6.9) |  |  | (4.0) |
Net tax on foreign earnings (GILTI/FDII/FTC) | 0.9 |  |  | — |  |  | 0.5 |
Transaction costs | 0.5 |  |  | 3.9 |  |  | — |
Income tax reserves | (0.1) |  |  | 0.1 |  |  | (0.5) |
Permanent book/tax differences | — |  |  | (1.0) |  |  | (0.6) |
Expenses associated with IPO | — |  |  | — |  |  | 3.3 |
Other | (0.1) |  |  | (1.9) |  |  | 1.1 |
Effective income tax rate | 10.7 | % |  | (3.7) | % |  | 23.0 | %
Schedule of Deferred Tax Assets and Liabilities | The following is a summary of the significant components of the Company’s deferred tax assets and liabilities:
| December 31,
| 2022 |  | 2021
Deferred tax assets: |  |  |
Accrued compensation | $ | 35,298 |  |  | $ | 39,125 |
Net operating loss (“NOL”) and credit carryforwards | 14,960 |  |  | 28,698 |
Convertible debt and 163(j) limitation | 13,349 |  |  | 15,682 |
Lease liabilities | 8,920 |  |  | 10,540 |
Other accruals not currently deductible | 1,122 |  |  | 2,006 |
Allowance for doubtful accounts | 1,856 |  |  | 918 |
Deferred revenues | 2,914 |  |  | — |
Other | 2,383 |  |  | 1,851 |
Total deferred tax assets | 80,802 |  |  | 98,820 |
Less: Valuation allowance | (3,321) |  |  | (1,899) |
Net deferred tax assets | 77,481 |  |  | 96,921 |
Deferred tax liabilities: |  |  |
Intangible assets including goodwill | (51,994) |  |  | (70,316) |
Operating lease right-of-use assets | (8,381) |  |  | (10,196) |
Deferred revenues | — |  |  | (3,421) |
Prepaid expenses | (2,877) |  |  | (2,739) |
Unrealized gains and losses | (9,422) |  |  | (2,387) |
Property and equipment | (3,406) |  |  | (1,500) |
Total deferred tax liabilities | (76,080) |  |  | (90,559) |
Net deferred tax assets (liabilities) | $ | 1,401 |  |  | $ | 6,362 |
Summary of Operating Loss Carryforwards | The Company had deferred tax assets for tax credits and net operating losses, net of unrecognized tax positions, primarily related to:
Jurisdiction: | December 31, 2022 |  | Begin to Expire
U.S. Federal NOL | $ | 1,963 |  |  | Indefinite
U.S. Federal research and development credits | 592 |  |  | 2035
U.S. Federal foreign tax credits | 267 |  |  | 2029
U.S. State NOL | 676 |  |  | 2031
U.S. State research and development credits | 416 |  |  | 2030
United Kingdom (“U.K.”) NOL | 6,864 |  |  | Indefinite
U.K. research and development credits | 526 |  |  | Indefinite
Canadian research and development credit | 1,551 |  |  | 2029
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of the gross unrecognized tax benefits is as follows:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Gross unrecognized tax benefits, beginning of year | $ | 1,331 |  |  | $ | 1,223 |  |  | $ | 1,763 |
Increases for tax positions of prior years | — |  |  | 160 |  |  | 1,436 |
Decreases for tax positions of prior years | (121) |  |  | (42) |  |  | — |
Increases for tax positions related to the current year | — |  |  | — |  |  | — |
Decreases relating to settlements with taxing authorities | (35) |  |  | — |  |  | (1,723) |
Reductions as a result of lapse of the statute of limitations | (265) |  |  | (10) |  |  | (253) |
Gross unrecognized tax benefits, end of year | $ | 910 |  |  | $ | 1,331 |  |  | $ | 1,223 |

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