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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of assets that is measured at fair value on a recurring basis
The following table sets forth the assets and liabilities that were measured at fair value on a recurring and non-recurring basis by their levels in the fair value hierarchy at December 31, 2024:
LEVEL 1LEVEL 2LEVEL 3TOTAL
(In thousands)
Assets
Money market funds$79,167 $— $— $79,167 
Interest rate swap assets— 2,213 — 2,213 
Total assets$79,167 $2,213 $— $81,380 
Liabilities
Contingent liabilities$— $— $43,939 $43,939 
Total liabilities$— $— $43,939 $43,939 
The following table sets forth the assets that were measured at fair value on a recurring and non-recurring basis by their levels in the fair value hierarchy at December 31, 2023:
LEVEL 1LEVEL 2LEVEL 3TOTAL
(In thousands)
Assets
Money market funds$147,478 $— $— $147,478 
Interest rate swap assets— 5,624 — 5,624 
Total assets$147,478 $5,624 $— $153,102 
Liabilities
Contingent liabilities$— $— $54,457 $54,457 
Total liabilities$— $— $54,457 $54,457 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table summarizes the Level 3 activity of the changes in the contingent consideration liability.
YEAR ENDED DECEMBER 31, 2024
(In thousands)
Beginning balance at December 31, 2023$54,457 
Payments(18,863)
Change in fair value8,345 
Ending balance at December 31, 2024$43,939 
Schedule of reconciliation of cash and cash equivalents and restricted cash
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets to the amounts presented in the consolidated statements of cash flows:
DECEMBER 31,
20242023
(In thousands)
Cash and cash equivalents$179,183 $234,951 
Schedule of Accounts, Notes, Loans and Financing Receivable
DECEMBER 31,
20242023
(In thousands)
Trade receivables$90,609 $75,410 
Unbilled receivables13,454 10,405 
Other receivables290 354 
Allowance for credit losses(2,164)(1,312)
Accounts receivable, net$102,189 $84,857 
Schedule of allowance rollforward of credit losses
The following is a summary of the changes to the allowance for credit losses as of December 31, 2024 and 2023.
DECEMBER 31,
20242023
(In thousands)
Beginning balance $1,312 $1,250 
Provision for credit losses1,464 684 
Charge-offs, net of recoveries(612)(622)
Ending balance $2,164 $1,312 
Schedule of derivative instruments in the Consolidated Balance Sheets
The notional amounts and fair values, locations of derivative instruments in the consolidated balance sheets as of December 31, 2024 were as follows:
Interest rate swap derivative designated as cash flow hedging instruments:20242023
(In thousands)
Notional amounts $230,000 $230,000 
Prepaid expenses and other current assets$2,213 $4,473 
Other long-term assets$— $1,151 
Schedule of contract balances
Contract balances at December 31, 2024 and 2023 were as follows:
YEAR ENDED DECEMBER 31,
202420232022
(In thousands)
Contract assets$13,454 $10,405 $11,309 
Contract liabilities$78,878 $61,748 $55,024 
Summary of revenue by timing of revenue recognition The following table presents the Company’s revenue by timing of revenue recognition to understand the risks of timing of transfer of control and cash flows:
YEAR ENDED DECEMBER 31,
202420232022
(In thousands)
Software licenses transferred at a point in time$54,773 $49,754 $46,139 
Software licenses transferred over time100,923 81,923 69,327 
Service revenues earned over time229,452 222,660 220,178 
Total$385,148 $354,337 $335,644