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Income Taxes (Tables) | 12 Months Ended
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Nov. 30, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Pretax Income | The components of income before income taxes are as follows (in thousands):
| Fiscal Year Ended
| November 30, 2023 |  | November 30, 2022 |  | November 30, 2021
U.S. | $ | 70,659 |  |  | $ | 103,917 |  |  | $ | 80,508 |
Foreign | 8,998 |  |  | 13,338 |  |  | 15,026 |
Total | $ | 79,657 |  |  | $ | 117,255 |  |  | $ | 95,534 |
Schedule of Provisions for Income Taxes | The provision for income taxes is comprised of the following (in thousands):
| Fiscal Year Ended
| November 30, 2023 |  | November 30, 2022 |  | November 30, 2021
Current: |  |  |  |  |
Federal | $ | 28,905 |  |  | $ | 20,118 |  |  | $ | 11,964 |
State | 4,373 |  |  | 5,039 |  |  | 2,602 |
Foreign | 4,823 |  |  | 4,631 |  |  | 3,456 |
Total current | 38,101 |  |  | 29,788 |  |  | 18,022 |
Deferred |  |  |  |  |
Federal | (22,763) |  |  | (4,683) |  |  | 366 |
State | (1,592) |  |  | (1,537) |  |  | (1,110) |
Foreign | (4,286) |  |  | (1,382) |  |  | (164) |
Total deferred | (28,641) |  |  | (7,602) |  |  | (908) |
Total | $ | 9,460 |  |  | $ | 22,186 |  |  | $ | 17,114 |
Schedule of Reconciliation of U.S. Federal Statutory Rate To Effective Tax Rate | A reconciliation of the income taxes incurred at the U.S. Federal statutory rate compared to the effective tax rate is as follows (in thousands):
| Fiscal Year Ended
| November 30, 2023 |  | November 30, 2022 |  | November 30, 2021
Tax at U.S. Federal statutory rate | $ | 16,728 |  |  | $ | 24,624 |  |  | $ | 20,062 |
Foreign rate differences | (644) |  |  | 475 |  |  | 193 |
Effects of foreign operations included in U.S. Federal provision | 447 |  |  | 401 |  |  | (112) |
State income taxes, net | 1,814 |  |  | 2,424 |  |  | 1,215 |
Research credits | (894) |  |  | (1,268) |  |  | (410) |
Nondeductible stock-based compensation | 2,498 |  |  | 2,725 |  |  | 1,548 |
Meals and entertainment | 162 |  |  | 185 |  |  | 61 |
Compensation subject to 162(m) | 928 |  |  | 878 |  |  | 346 |
Uncertain tax positions and tax settlements | (1,056) |  |  | (163) |  |  | 89 |
Net excess tax benefit from stock-based compensation plans | (2,058) |  |  | (266) |  |  | (11) |
Global intangible low tax inclusion | 244 |  |  | 17 |  |  | 606 |
Foreign derived intangible deduction | (8,297) |  |  | (7,769) |  |  | (6,386) |
Other | (412) |  |  | (77) |  |  | (87) |
Total | $ | 9,460 |  |  | $ | 22,186 |  |  | $ | 17,114 |
Schedule of Deferred Taxes | The components of deferred tax assets and liabilities are as follows (in thousands):
| November 30, 2023 |  | November 30, 2022
Deferred tax assets: |  |  |
Accounts receivable | $ | 174 |  |  | $ | 191 |
Accrued compensation | 5,101 |  |  | 3,884 |
Accrued liabilities and other | 2,511 |  |  | 1,352 |
Deferred revenue | 20,204 |  |  | 12,461 |
Stock-based compensation | 9,459 |  |  | 8,030 |
Original issue discount | 5,135 |  |  | 7,169 |
Tax credit and loss carryforwards | 34,948 |  |  | 27,809 |
Operating lease liabilities | 3,208 |  |  | 4,082 |
Capitalized research and development | 20,814 |  |  | — |
Gross deferred tax assets | 101,554 |  |  | 64,978 |
Valuation allowance | (2,381) |  |  | (6,275) |
Total deferred tax assets | 99,173 |  |  | 58,703 |
Deferred tax liabilities: |  |  |
Goodwill | (25,454) |  |  | (23,745) |
Right-of-use lease assets | (2,196) |  |  | (2,938) |
Depreciation and amortization | (55,962) |  |  | (20,875) |
Prepaid expenses | (4,083) |  |  | (4,008) |
Total deferred tax liabilities | (87,695) |  |  | (51,566) |
Total | $ | 11,478 |  |  | $ | 7,137 |
Schedule of Reconciliation of Unrecognized Tax Benefits | A reconciliation of the balance of our unrecognized tax benefits is as follows (in thousands):
| Fiscal Year Ended
| November 30, 2023 |  | November 30, 2022 |  | November 30, 2021
Balance, beginning of year | $ | 5,276 |  |  | $ | 5,471 |  |  | $ | 6,219 |
Tax positions related to current period | — |  |  | — |  |  | 71 |
Tax positions related to a prior period | 19 |  |  | — |  |  | (820) |
Tax positions acquired | 423 |  |  | — |  |  | 439 |
Settlements with tax authorities | (367) |  |  | (45) |  |  | (168) |
Lapses due to expiration of the statute of limitations | (179) |  |  | (150) |  |  | (270) |
Balance, end of year | $ | 5,172 |  |  | $ | 5,276 |  |  | $ | 5,471 |

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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
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