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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2022
Accounting Policies [Abstract] |
Schedule of Product Warranty Liability | Activity related to warranty claims are as follows:
|  | December 31, 2022 |  | December 31, 2021
(in thousands) |  |  |  |
Beginning balance |  | $ | 762 |  |  | $ | 994 |
Adjustments to reserve |  | 184 |  |  | (10) |
Warranty claims settled |  | (224) |  |  | (222) |
Ending balance |  | $ | 722 |  |  | $ | 762 |
Schedule of Cash, Cash Equivalents, and Cash Held on Behalf of Customer | Cash, cash equivalents, and cash held on behalf of customers consist of the following:
(in thousands) | December 31, 2022 |  | December 31, 2021
Cash and cash equivalents |  |  |
Cash | $ | 18,856 |  |  | $ | 69,249 |
Money market funds | 51,472 |  |  | 119,170 |
Cash held on behalf of customers | 7,205 |  |  | 0 |
Total cash, cash equivalents, and cash held on behalf of customers | $ | 77,533 |  |  | $ | 188,419 |
Schedule of Short-Term Investment | The carrying value of investment securities consist of the following:
(in thousands) | December 31, 2022 |  | December 31, 2021
Short-term investments |  |  |
Treasury Bills & Notes | $ | 40,290 |  |  | $ | — |
Total Short-term Investments | $ | 40,290 |  |  | $ | — |
Schedule of Amortization expense | Amortization expense for acquired developed technology and internally developed software was broken out as follows:
(in thousands) | 2022 |  | 2021 |  | 2020
Amortization of acquired developed technology | $ | 15,307 |  |  | $ | 11,978 |  |  | $ | 3,457 |
Amortization of internally developed software | 6,737 |  |  | 5,411 |  |  | 3,269 |
Amortization expense for identifiable intangible assets was allocated as follows:
(in thousands) | 2022 |  | 2021 |  | 2020
Amortization of identifiable intangible assets recorded in cost of sales | $ | 22,044 |  |  | $ | 17,389 |  |  | $ | 6,726 |
Amortization expense recorded in operating expense | 1,863 |  |  | 1,825 |  |  | 1,150 |
Impact of currency translation on intangible assets | (304) |  |  | — |  |  | — |
Schedule of Components of Identifiable Intangible Assets | The components of identifiable intangible assets are:
| December 31, |  |
(in thousands) | 2022 |  | 2021 | Estimated Useful Life | Weighted-Average Amortization Period
Acquired developed technology | $ | 119,800 |  |  | $ | 109,100 |  | 3 - 7 years | 4.75 years
Internally developed software costs | 32,274 |  |  | 25,735 |  | 3 years | 2.50 years
Customer relationships | 12,360 |  |  | 12,360 |  | 7 years | 4.33 years
Trade names | 1,410 |  |  | 1,410 |  | 2 - 5 years | 2.00 years
Non-competition agreements | 30 |  |  | 30 |  | 1 year | 1.00 year
| 165,874 |  |  | 148,635 |  |  |
Impact of currency translation on intangible assets | 304 |  |  | — |  |  |
Less: accumulated amortization | (63,386) |  |  | (39,479) |  |  |
| $ | 102,792 |  |  | $ | 109,156 |  |  |
Internally developed software costs not meeting general release threshold | 2,105 |  |  | 3,407 |  |  |
Trademarks, trade names (non-amortizable) | 6,200 |  |  | 6,200 |  | Indefinite |
| $ | 111,097 |  |  | $ | 118,763 |  |  |
Schedule of Future Amortization of Intangible Assets | The expected future amortization of intangible assets, assuming straight-line amortization of capitalized software development costs and acquisition related intangibles, excluding software costs not meeting the general release threshold, is as follows (in thousands):
2023 | $ | 23,368 |
2024 | 21,323 |
2025 | 19,550 |
2026 | 17,737 |
2027 | 14,730 |
Thereafter | 6,084 |
Total | $ | 102,792 |
Schedule of Reconciliation of Weighted Average Shares Outstanding for the Basic and Diluted Loss Per Share | The following is a reconciliation of the weighted average shares outstanding for the basic and diluted loss per share computations:
| December 31,
(in thousands, except per share data) | 2022 |  | 2021 |  | 2020
Net loss | $ | (69,319) |  |  | $ | (75,799) |  |  | $ | (36,562) |
Basic: |  |  |  |  |
Weighted average common shares | 27,152 |  |  | 25,088 |  |  | 19,014 |
Loss per common share, basic | $ | (2.55) |  |  | $ | (3.02) |  |  | $ | (1.92) |
Diluted: |  |  |  |  |
Weighted average common shares | 27,152 |  |  | 25,088 |  |  | 19,014 |
Loss per common share, diluted | $ | (2.55) |  |  | $ | (3.02) |  |  | $ | (1.92) |
Schedule of Goodwill | The following table presents the goodwill activities for the periods presented:
(in thousands) |  |
Beginning balance - December 31, 2020 |  | $ | 41,214 |
Punchh Acquisition |  | 417,559 |
ASC 805 measurement period adjustment |  | (1,467) |
Balance - December 31, 2021 |  | 457,306 |
Q1 2022 Acquisition |  | 1,212 |
MENU Acquisition |  | 28,495 |
Punchh Acquisition ASC 805 measurement period adjustment |  | (1,085) |
Foreign currency translation |  | 834 |
Ending balance - December 31, 2022 |  | $ | 486,762 |

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