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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 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 2024, 2023, and 2022 was as follows (in thousands):

		2024				2023				2022
Revenue:
SaaS and related solutions		$	1,069,325			$	1,024,572			$	956,995
Software and services			80,935				98,078				87,247
Maintenance			46,988				46,608				45,510
Total revenue		$	1,197,248			$	1,169,258			$	1,089,752

We use the location of the customer as the basis of attributing revenue to geographic regions. Revenue by geographic region for 2024, 2023, and 2022, as a percentage of our total revenue, was as follows:

		2024				2023				2022
Americas (principally the U.S.)			87	%			86	%			85	%
Europe, Middle East, and Africa (principally Europe)			9	%			10	%			11	%
Asia Pacific			4	%			4	%			4	%
Total revenue			100	%			100	%			100	%

We generate our revenue primarily from the global communications markets; however, we serve an expanding group of customers in markets including retail, financial services, healthcare, insurance, and government entities. Revenue by customer vertical for 2024, 2023, and 2022, as a percentage of our total revenue, was as follows:

		2024				2023				2022
Broadband/Cable/Satellite			52	%			52	%			54	%
Telecommunications			18	%			20	%			20	%
Other			30	%			28	%			26	%
Total revenue			100	%			100	%			100	%

Rollforward of Unbilled Accounts Receivable

The following table rolls forward our unbilled accounts receivable from January 1, 2023 to December 31, 2024 (in thousands):

		Unbilled Receivables
Beginning Balance, January 1, 2023		$	52,830
Recognized during the period			287,844
Reclassified to receivables			(258,792	)
Other			281
Ending Balance, December 31, 2023			82,163
Recognized during the period			267,879
Reclassified to receivables			(268,855	)
Other			(1,014	)
Ending Balance, December 31, 2024		$	80,173

Rollforward of Deferred Revenue

The following table rolls forward our deferred revenue from January 1, 2023 to December 31, 2024 (in thousands):

		Deferred Revenue
Beginning Balance, January 1, 2023		$	68,024
Revenue recognized that was included in deferred revenue at the beginning     of the period			(45,699	)
Consideration received in advance of services performed net of revenue     recognized in the current period			55,920
Other			(599	)
Ending Balance, December 31, 2023			77,646
Revenue recognized that was included in deferred revenue at the beginning     of the period			(55,359	)
Consideration received in advance of services performed net of revenue     recognized in the current period			59,917
Other			(1,311	)
Ending Balance, December 31, 2024		$	80,893

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):

		December 31, 2024								December 31, 2023
		Carrying Value				Fair Value				Carrying Value				Fair Value
2023 Convertible Notes (par value)		$	425,000			$	429,144			$	425,000			$	428,506
2021 Credit Agreement (carrying value including     current maturities)			125,625				125,625				133,125				133,125

The fair value of our convertible notes was estimated based upon quoted market prices or recent sales activity, while the fair value of our credit agreement was estimated using a discounted cash flow methodology, both of which are considered Level 2 inputs

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):

		December 31, 2024								December 31, 2023
		Assets				Liabilities				Assets				Liabilities
Settlement assets/liabilities		$	330,769			$	329,458			$	260,712			$	259,825
Merchant reserve assets/liabilities			12,466				12,466				13,987				13,992
Total		$	343,235			$	341,924			$	274,699			$	273,817

Allowance for Doubtful Accounts Receivable

The activity in our allowance for expected losses is as follows (in thousands):

		2024				2023				2022
Balance, beginning of year		$	5,432			$	5,528			$	4,250
Additions to/(reversals of) expense			(951	)			1,765				1,295
Write-offs			(1,419	)			(1,767	)			(8	)
Other			(21	)			(94	)			(9	)
Balance, end of year		$	3,041			$	5,432			$	5,528

Reconciliation of the Basic and Diluted EPS denominators

The reconciliation of the basic and diluted EPS denominators related to the common shares is included in the following table (in thousands):

			2024				2023				2022
Basic weighted-average common shares				28,345				29,938				31,028
Dilutive effect of restricted common stock				320				177			270
Diluted weighted-average common shares				28,665				30,115				31,298

The dilutive effect of time-based awards is computed using the treasury stock method. The dilutive effect of performance-based and market-based awards is computed based on the number of shares that would be issued as if the end of the reporting period was the end of the performance period. The dilutive effect of the 2023 Convertible Notes is computed using the if-converted method and will only have an effect in those quarterly periods in which our average stock price exceeds the current effective conversion price.

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