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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Summary of (Loss) Income Before Income Tax Benefits

The domestic and foreign components of (loss) income before provision for income taxes for the years ended December 31, 2025, 2024, and 2023, respectively, were as follows (in thousands):

		Year Ended December 31,
		2025				2024				2023
(Loss) income before provision for income taxes from United States operations		$	(83,184	)		$	(144,187	)		$	25,250
Income before provision for income taxes from foreign operations			45,933				29,572				23,226
(Loss) income before provision for income taxes		$	(37,251	)		$	(114,615	)		$	48,476

Summary of Current and Deferred Portions of Income Tax Benefits

The domestic and foreign components of the provision for income taxes for the years ended December 31, 2025, 2024, and 2023, respectively, were as follows (in thousands):

		Year Ended December 31,
		2025				2024				2023
Current
Federal		$	11,491			$	14,859			$	18,486
State			5,556				3,350				5,772
Foreign			13,400				7,385				6,480
Total Current		$	30,447			$	25,594			$	30,738
Deferred
Federal		$	(25,393	)		$	(26,129	)		$	(16,857	)
State			(2,314	)			(2,447	)			(2,313	)
Foreign			(5,167	)			(1,360	)			(385	)
Total Deferred		$	(32,874	)		$	(29,936	)		$	(19,555	)
Total		$	(2,427	)		$	(4,342	)		$	11,183

Summary of Reconciliation of U.S. Federal Statutory Income Tax Rate and Effective Income Tax Rate

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rate pursuant to the disclosure requirements of ASU 2023-09 for the years ended December 31, 2025, 2024, and 2023, respectively, is as follows (in thousands, except percentages):

		Year Ended December 31,
		2025								2024								2023
		Amount				Percent				Amount				Percent				Amount				Percent
U.S. Federal Statutory Tax Rate		$	(7,823	)			21.00	%		$	(24,070	)			21.00	%		$	10,180				21.00	%
State and Local Income Taxes, Net of Federal Income Tax Effect(1)			1,964				(5.27	)%			(1,328	)			1.16	%			1,888				3.89	%
Effect of Changes in Tax Laws or Rates Enacted in the Current Period			256				(0.69	)%			1,711				(1.49	)%			(322	)			(0.66	)%
Foreign Tax Effects
India
Withholding Tax			1,402				(3.76	)%			308				(0.27	)%			—				—
Other			1,021				(2.74	)%			177				(0.15	)%			420				0.87	%
Other foreign jurisdictions(2)			1,087				(2.92	)%			1,912				(1.67	)%			959				1.98	%
Effect of Cross-Border Tax Laws
Global Intangible Low-Taxed Income			942				(2.53	)%			145				(0.13	)%			—				—
Foreign Derived Intangible Income			(232	)			0.62	%			(79	)			0.07	%			(170	)			(0.35	)%
Tax Credits
US research and development credit			(1,792	)			4.81	%			(1,397	)			1.22	%			(1,918	)			(3.96	)%
Nontaxable or Nondeductible Items
Equity compensation			992				(2.66	)%			9,986				(8.71	)%			1,630				3.36	%
Nondeductible compensation			—				—				664				(0.58	)%			—				—
Transaction costs			17				(0.05	)%			7,176				(6.26	)%			149				0.31	%
Other Non-Taxable or Non-Deductible Items			(95	)			0.26	%			39				(0.03	)%			138				0.28	%
Changes in Unrecognized Tax Benefits			(101	)			0.27	%			(312	)			0.27	%			40				0.08	%
Adjustments to Prior Period Provision			(212	)			0.57	%			106				(0.09	)%			(1,807	)			(3.73	)%
Other Adjustments			147				(0.39	)%			620				(0.54	)%			(4	)			(0.01	)%
Effective Tax Rate		$	(2,427	)			6.52	%		$	(4,342	)			3.79	%		$	11,183				23.07	%

(1)State income taxes in Arkansas, Pennsylvania, and Tennessee make up the majority (greater than 50%) of the tax effect within this category for the year ended December 31, 2025. State income taxes in California, Georgia, Ohio (RITA), and Pennsylvania make up the majority (greater than 50%) of the tax effect within this category for the year ended December 31, 2024. State income taxes in Illinois, Maryland, and Pennsylvania make up the majority (greater than 50%) of the tax effect within this category for the year ended December 31, 2023.

(2)Primarily relates to foreign withholding taxes for the year ended December 31, 2025.

Schedule of Tax Paid Net of Refund Received

The domestic and foreign payments, net of refunds received, related to federal and state income taxes for the years ended December 31, 2025, 2024, and 2023, respectively, were as follows (in thousands) pursuant to the disclosure requirements of ASU 2023-09:

		Year Ended December 31,
		2025				2024				2023
Federal		$	12,161			$	11,100			$	18,500
State
Pennsylvania			2,030				1,761				2,286
Other States			3,500				3,019				3,042
Foreign
Australia			2,288				590				75
Canada			1,896				328				482
India			5,651				3,688				3,626
United Kingdom			891				1,546				1,668
Other countries			2,003				1,356				1,944
Total		$	30,420			$	23,388			$	31,623

Summary of Net Deferred Tax Assets

The primary components of temporary differences that give rise to the Company’s net deferred tax liability as of December 31, 2025 and 2024 consist of the following (in thousands):

		December 31,
		2025				2024
Deferred tax assets
Federal net operating loss carryforwards		$	3,163			$	3,219
State net operating loss carryforwards			7,157				7,952
Foreign net operating loss carryforwards			7,846				7,613
Deferred revenues			452				481
Disallowed interest			36,818				21,815
Bad debt reserves			1,807				476
Employee benefits			8,054				5,565
Share-based compensation			4,013				3,473
Accrued expenses and loss reserves			2,748				2,876
Operating lease liability			2,012				2,693
Related-party accrued expenses			4,509				5,272
Other deferred tax assets			1,662				895
Less: Valuation allowances			(5,883	)			(5,635	)
Total deferred tax asset		$	74,358			$	56,695
Deferred tax liabilities
Customer lists		$	(168,833	)		$	(191,705	)
Trade names			(24,498	)			(28,903	)
Prepaid assets			(1,865	)			(3,351	)
Goodwill			(23,342	)			(17,615	)
Operating lease asset			(2,064	)			(2,823	)
Depreciable and other amortizable assets			(37,511	)			(27,104	)
Withholding Tax			(2,024	)			(2,178	)
Other deferred liabilities			(293	)			(72	)
Total deferred tax liability		$	(260,430	)		$	(273,751	)
Net deferred tax liability		$	(186,072	)		$	(217,056	)

Summary of Net Operating Loss Carryforwards

As of December 31, 2025 and 2024, the Company believes that federal, state, and foreign net operating loss carryforwards will be available to reduce future taxable income after taking into account various federal and foreign limitations on the utilization of such net operating loss carryforwards. The net operating loss carryforward balances as of December 31, 2025 and 2024, are as follows (in thousands):

		December 31,
		2025				2024
Federal		$	15,061			$	15,329
State			108,951				91,612
Foreign			32,258				32,296
		$	156,270			$	139,237

Summary of Income Tax Contingencies

The aggregate changes in the balance of our gross unrecognized tax benefits, excluding accrued interest, for the years ended December 31, 2025, 2024, and 2023, were as follows (in thousands):

		Year Ended December 31,
		2025				2024				2023
Balance, beginning of period		$	5,662			$	511			$	512
Adjustments made during purchase accounting window			(167	)			—				—
Increases for tax positions related to prior years			37				—				—
Decreases for tax positions related to prior years			(400	)			(216	)			(1	)
Acquired tax positions related to prior years			—				5,433				—
Effects of foreign currency			66				(66	)			—
Balance, end of period		$	5,198			$	5,662			$	511

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