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Segment data
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Data Segment data
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance.
The Company has determined that its chief executive officer (“CEO”) is its CODM. The Company manages its operations as a single segment for the purpose of assessing and making operating decisions. The Company’s CODM allocates resources and assesses performance based upon financial information at the consolidated level. The accounting policies of the Company's single segment are the same as those described in the summary of significant accounting policies. The inter-companies balances and transactions are eliminated.
As the Company operates and reports in a single reportable segment, the Company's CODM assesses performance for the segment and decides how to allocate resources based on net income that also is reported on the income statement as consolidated net income. The measure of segment assets is reported on the balance sheet as total consolidated assets.
The CODM uses net income and other performance indicators to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the segment or into other parts of the entity, such as for acquisitions. Net income is also used to monitor budget versus actual results.
The Company manages the business activities on a consolidated basis. The Company's operating segment provides technology-enabled services and software products to its customers. The Company’s revenue consists of fees for its software products and services. The revenue is primarily generated from Americas. See item (q) - Revenue recognition under Note 2. “Summary of Significant Accounting Policies", for a description of the Company’s revenue categories.
The following table summarizes revenue by geographic area:
YEAR ENDED
DECEMBER 31,
202420232022
(In thousands)
Revenue(1):
Americas$281,493 $265,063 $252,921 
EMEA76,567 63,567 57,002 
Asia Pac27,088 25,707 25,721 
Total$385,148 $354,337 $335,644 
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(1)Revenue is attributable to the countries based on the location of the customer
Long-lived assets, defined as the net ROU assets and net Property, Plant, and Equipment, excluding goodwill and net intangible assets, by geographic area as of December 31, 2024 and 2023 are presented as follows:
DECEMBER 31,
20242023
(In thousands)
Long-Lived Assets, net:
Americas$9,546 $6,858 
EMEA5,605 3,802 
Asia Pac857 1,614 
Total$16,008 $12,274 
The following table presents information about reported segment revenue, segment profit or loss, and significant segment expenses.
YEAR ENDED DECEMBER 31,
202420232022
(In thousands)
Revenues$385,148 $354,337 $335,644 
Less:
Employee expense-non equity221,379 187,035 170,324 
Equity-based compensation expense34,774 28,300 30,345 
Equipment and software expense13,990 11,528 9,476 
Direct cost of revenues5,310 4,399 4,242 
Professional services expense25,216 27,192 24,718 
Change in fair value of contingent consideration8,089 24,118 — 
Intangible asset amortization66,039 54,519 50,739 
Depreciation expense1,994 1,552 1,731 
Goodwill impairment expense— 46,984 — 
Other segment expense(a)4,021 937 7,541 
Interest expense21,520 22,916 17,773 
Income tax expense(5,133)214 4,024 
Segment net income$(12,051)$(55,357)$14,731 
Reconciliation of profit or loss
Adjustments and reconciling items$— $— $— 
Consolidated net income$(12,051)$(55,357)$14,731 
(a) Other segment expense items included in segment net income include facilities related expense, marketing, travel, insurance, foreign currency exchange gains and losses, and other overhead expense.