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SEGMENT DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2024

SEGMENT DISCLOSURES

Schedule of significant expenses categories and measures of segment profit (loss)

The following significant expense categories and measures of segment income (loss) are regularly reported to the CODM for the Company’s single segment:

​	​	​	​	​	​	​	​	​
​	For the year ended December 31,
​	​	2024	​	​	2023	​	​	2022
Total Revenues	$	666,776	​	$	572,387	​	$	491,624
Less:	​	​	​	​	​	​	​	​
Cost of revenues – software subscriptions	​	175,580	​	​	162,920	​	​	142,071
Cost of revenues – services	​	65,071	​	​	60,888	​	​	51,061
Research & development	​	66,666	​	​	58,212	​	​	41,877
Selling & marketing	​	170,574	​	​	140,237	​	​	125,335
General & administrative	​	152,835	​	​	145,936	​	​	121,651
Depreciation & amortization	​	20,953	​	​	15,202	​	​	12,440
Change in fair value of acquisition contingent earn-outs	​	17,500	​	​	—	​	​	—
Other segment items (1)	​	(175)	​	​	6,502	​	​	5,271
Interest (income) expense, net	​	(4,137)	​	​	4,164	​	​	2,048
Income tax expense (benefit)	​	54,638	​	​	(8,581)	​	​	2,174
Net loss (GAAP)	$	(52,729)	​	$	(13,093)	​	$	(12,304)
Adjustments:	​	​	​	​	​	​	​	​
Interest expense (income), net (2)	​	(4,137)	​	​	4,164	​	​	2,048
Income tax expense (benefit)	​	54,638	​	​	(8,581)	​	​	2,174
Depreciation and amortization – property and equipment	​	20,953	​	​	15,202	​	​	12,440
Depreciation and amortization of capitalized software and acquired intangible assets – cost of subscription revenues	​	59,302	​	​	54,048	​	​	44,934
Amortization of acquired intangible assets – selling and marketing expense	​	2,478	​	​	2,641	​	​	3,779
Amortization of cloud computing implementation costs – general and administrative	​	4,007	​	​	2,570	​	​	—
Stock-based compensation expense	​	47,425	​	​	33,919	​	​	19,729
Severance expense	​	3,048	​	​	3,576	​	​	877
Acquisition contingent consideration	​	(2,575)	​	​	1,549	​	​	2,300
Litigation settlements	​	—	​	​	—	​	​	2,000
Change in fair value of acquisition contingent earn-outs	​	17,500	​	​	—	​	​	—
Transaction costs (3)	​	2,032	​	​	4,853	​	​	696
Adjusted EBITDA (Non-GAAP)	$	151,942	​	$	100,848	​	$	78,673
​	​	​	​	​	​	​	​	​
(1) Other segment items include professional fees, contracted labor, transaction costs, acquisition related earn-out adjustments and foreign currency exchange gains (losses).
(2) The years ended December 31, 2024 and 2023 include $423 and $4,020, respectively, for the change in the settlement value of a deferred purchase commitment liability recorded as interest expense.
(3) The year ended December 31, 2023 includes costs associated with a public tender offer, which was withdrawn by the Company in January 2024. The year ended December 31, 2022 includes offering costs related to the sale of shares of certain of our Class B shareholders, which are not representative of normal business operations. ​

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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

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- References

No definition available.

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