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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
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,
| 2024 |  | 2023 |  | 2022
Domestic | $ | 118,624 |  |  | $ | 16,652 |  |  | $ | 98,188 |
International | 174,431 |  |  | 166,875 |  |  | 100,087 |
Income before income taxes | $ | 293,055 |  |  | $ | 183,527 |  |  | $ | 198,275 |
Schedule of Components of Income Tax | The (Provision) benefit for income taxes consists of the following:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | (7,194) |  |  | $ | (12,899) |  |  | $ | (2,307) |
State | (2,674) |  |  | (2,567) |  |  | (1,387) |
Foreign | (36,287) |  |  | (40,171) |  |  | (22,715) |
| (46,155) |  |  | (55,637) |  |  | (26,409) |
Deferred: |  |  |  |  |
Federal | (7,627) |  |  | 134,516 |  |  | 3,547 |
State | (4,057) |  |  | 29,514 |  |  | 60 |
Foreign | (887) |  |  | 34,848 |  |  | 1,519 |
| (12,571) |  |  | 198,878 |  |  | 5,126 |
(Provision) benefit for income taxes | $ | (58,726) |  |  | $ | 143,241 |  |  | $ | (21,283) |
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,
| 2024 |  | 2023 |  | 2022
Federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State and local income taxes, net of federal benefit | 2.1 |  |  | (0.3) |  |  | 1.0 |
Stock-based compensation | (16.0) |  |  | (22.9) |  |  | (21.4) |
Non-deductible officer compensation | 14.1 |  |  | 14.9 |  |  | 11.0 |
Tax credits | (3.0) |  |  | (5.8) |  |  | (2.9) |
Withholding taxes | 3.4 |  |  | 4.9 |  |  | 2.8 |
Foreign tax rate differential | (3.3) |  |  | (3.0) |  |  | (2.0) |
Net tax on foreign earnings (GILTI/FDII) | 0.5 |  |  | 4.2 |  |  | 0.9 |
Transaction costs | 0.1 |  |  | (0.1) |  |  | 0.5 |
Tax impact of internal legal entity restructuring | — |  |  | (93.1) |  |  | — |
Other | 1.1 |  |  | 2.2 |  |  | (0.2) |
Effective income tax rate | 20.0 | % |  | (78.0 | %) |  | 10.7 | %
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,
| 2024 |  | 2023
Deferred tax assets: |  |  |
Accrued compensation | $ | 32,875 |  |  | $ | 38,220 |
NOL and credit carryforwards | 19,679 |  |  | 19,677 |
Intangible assets including goodwill | 142,293 |  |  | 137,576 |
Convertible debt and 163(j) limitation | 5,281 |  |  | 14,364 |
Lease liabilities | 5,810 |  |  | 7,610 |
Other accruals not currently deductible | 1,294 |  |  | 502 |
Allowance for doubtful accounts | 1,048 |  |  | 1,852 |
Deferred revenues | 1,899 |  |  | 4,402 |
Other | 581 |  |  | 2,852 |
Total deferred tax assets | 210,760 |  |  | 227,055 |
Less: Valuation allowance | (4,474) |  |  | (2,664) |
Net deferred tax assets | 206,286 |  |  | 224,391 |
Deferred tax liabilities: |  |  |
Operating lease right-of-use assets | (4,607) |  |  | (6,762) |
Prepaid expenses | (714) |  |  | (2,746) |
Unrealized gains and losses | (8,522) |  |  | (8,131) |
Property and equipment | (2,769) |  |  | (3,639) |
Total deferred tax liabilities | (16,612) |  |  | (21,278) |
Net deferred tax assets (liabilities) | $ | 189,674 |  |  | $ | 203,113 |
Schedule of Operating Loss Carryforwards | The Company had deferred tax assets for tax credits and NOLs, net of unrecognized tax positions, primarily related to:
Jurisdiction: | December 31, 2024 |  | Begin to Expire
U.S. Federal NOL | $ | 3,176 |  |  | 2034
U.S. Federal research and development credits | 139 |  |  | 2039
U.S. Federal foreign tax credits | 235 |  |  | 2028
U.S. State NOL | 1,316 |  |  | 2036
U.S. State research and development credits | 919 |  |  | 2032
U.K. NOL | 5,737 |  |  | Indefinite
U.K. research and development credits | 1,400 |  |  | Indefinite
Canadian research and development credit | 1,216 |  |  | 2030
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a reconciliation of the changes in gross unrecognized tax benefits:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Gross unrecognized tax benefits, beginning of year | $ | 466 |  |  | $ | 910 |  |  | $ | 1,331 |
Increases for tax positions of prior years | — |  |  | 12 |  |  | — |
Decreases for tax positions of prior years | (26) |  |  | (9) |  |  | (121) |
Increases for tax positions related to the current year | — |  |  | — |  |  | — |
Decreases relating to settlements with taxing authorities | (382) |  |  | — |  |  | (35) |
Reductions as a result of lapse of the statute of limitations | (58) |  |  | (447) |  |  | (265) |
Gross unrecognized tax benefits, end of year | $ | — |  |  | $ | 466 |  |  | $ | 910 |

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