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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Revenue Disaggregated by Revenue Type, Geographic Region and Customer

The nature, amount, timing, and uncertainty of our revenue and how revenue and cash flows are affected by economic factors is most appropriately depicted by revenue type, geographic region, and customer vertical.

Revenue by type for the quarters and six months ended June 30, 2024 and 2023 was as follows (in thousands):

		Quarter Ended								Six Months Ended
		June 30, 2024				June 30, 2023				June 30, 2024				June 30, 2023
SaaS and related solutions		$	262,658			$	255,600			$	524,353			$	513,476
Software and services			14,681				18,766				37,075				49,657
Maintenance			12,979				11,961				24,025				21,933
Total revenue		$	290,318			$	286,327			$	585,453			$	585,066

We use the location of the customer as the basis of attributing revenue to geographic regions. Revenue by geographic region for the quarters and six months ended June 30, 2024 and 2023, as a percentage of our total revenue, was as follows:

		Quarter Ended								Six Months Ended
		June 30, 2024				June 30, 2023				June 30, 2024				June 30, 2023
Americas (principally the U.S.)			89	%			87	%			87	%			85	%
Europe, Middle East, and Africa			6	%			9	%			8	%			11	%
Asia Pacific			5	%			4	%			5	%			4	%
Total revenue			100	%			100	%			100	%			100	%

We generate our revenue primarily from the global communications markets; however, we serve an expanding group of customers in other markets including retail, financial services, healthcare, insurance, and government entities. Revenue by customer vertical for the quarters and six months ended June 30, 2024 and 2023, as a percentage of our total revenue, was as follows:

		Quarter Ended								Six Months Ended
		June 30, 2024				June 30, 2023				June 30, 2024				June 30, 2023
Broadband/Cable/Satellite			53	%			54	%			52	%			53	%
Telecommunications			16	%			18	%			17	%			19	%
Other			31	%			28	%			31	%			28	%
Total revenue			100	%			100	%			100	%			100	%

Schedule of Settlement and Merchant Reserve Assets and Liabilities

The following table summarizes our settlement and merchant reserve assets and liabilities as of the indicated periods (in thousands):

		June 30, 2024								December 31, 2023
		Assets				Liabilities				Assets				Liabilities
Settlement assets/liabilities		$	216,485			$	214,067			$	260,712			$	259,825
Merchant reserve assets/liabilities			15,569				15,569				13,987				13,992
Total		$	232,054			$	229,636			$	274,699			$	273,817

Carrying Value and Estimated Fair Value of Debt

We have chosen not to record our debt at fair value, with changes recognized in earnings each reporting period. The following table indicates the carrying value and estimated fair value of our debt as of the indicated periods (in thousands):

		June 30, 2024								December 31, 2023
		Carrying Value				Fair Value				Carrying Value				Fair Value
2023 Convertible Notes (par value)		$	425,000			$	396,483			$	425,000			$	428,506
2021 Credit Agreement (carrying value including     current maturities)			129,375				129,375				133,125				133,125

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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