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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Loss Before Provision for Income Taxes

Our loss from continuing operations before income taxes (in thousands) was as follows:

			For the Year Ended December 31,
			2023						2022						2021
Domestic			$	(206,344)					$	(66,055)					$	(32,719)
Foreign			3,939						3,978						2,918
Loss from continuing operations before income taxes			$	(202,405)					$	(62,077)					$	(29,801)

Schedule of Components of Income Tax Expense (Benefit)

Components of income tax expense (benefit) (in thousands) consist of the following:

			For the Year Ended December 31,
			2023						2022						2021
Current
Federal			$	—					$	(875)					$	(1,469)
State and local			2,855						1,788						1,449
Foreign			1,034						1,318						1,027
Total current tax expense			3,889						2,231						1,007
Deferred
Federal			(42,156)						5,055						(5,866)
State and local			(12,822)						(2,790)						(4,021)
Foreign			510						92						(493)
Total deferred tax expense (benefit)			(54,468)						2,357						(10,380)
Change in valuation allowance			(38,786)						(47,964)						9,856
Total tax expense (benefit)			$	(89,365)					$	(43,376)					$	483

Schedule of Reconciliation of the U.S. Statutory Tax Rate to our Effective Tax Rate

A reconciliation of the U.S. statutory tax rate to our effective tax rate is presented below:

			For the Year Ended December 31,
			2023						2022						2021
U.S. statutory tax rate			21.0		%				21.0		%				21.0		%
U.S. state income taxes, net of U.S. federal tax benefit			3.0		%				(0.6)		%				1.9		%
Foreign earnings at other than U.S. rates			(0.3)		%				(0.8)		%				0.3		%
Change in valuation allowance			19.2		%				77.3		%				(33.1)		%
Contingent consideration adjustments			(1.2)		%				(0.1)		%				(1.0)		%
Non-deductible excess compensation			(6.8)		%				(27.8)		%				(10.1)		%
Excess tax benefits on stock-based compensation			7.1		%				12.2		%				8.1		%
Convertible debt extinguishment			—		%				(3.4)		%				(1.5)		%
Change in uncertain tax positions			(0.5)		%				(1.1)		%				0.2		%
Nondeductible transaction costs			(0.2)		%				(1.7)		%				—		%
Change in state rate			2.2		%				5.2		%				6.8		%
Return to provision			(0.1)		%				(1.1)		%				6.6		%
Tax sharing settlement			—		%				—		%				(1.1)		%
Tax receivable agreement			(0.9)		%				(9.1)		%				—		%
Research and development tax credit - federal			1.7		%				—		%				—		%
Other, net			—		%				(0.1)		%				0.3		%
Effective tax rate			44.2		%				69.9		%				(1.6)		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities (in thousands) were as follows:

			As of December 31,
			2023						2022
Deferred Tax Assets
Start-up and organizational costs			$	59					$	84
Goodwill			17,501						12,281
Operating lease liabilities			10,015						16,362
Accrued expenses			11,530						9,326
Stock based compensation			3,283						1,263
Net operating loss carryforwards			123,147						131,317
Federal and state research tax credits			4,467						1,828
Fixed assets			666						393
Interest deduction limitation			20,460						7,089
Outside basis differences			70						650
Other			7,417						6,677
Subtotal			198,615						187,270
Valuation allowance			(32,004)						(70,790)
Total deferred tax assets			166,611						116,480
Deferred Tax Liabilities
Internally developed software costs			5,697						11,173
Intangible assets			165,742						89,784
Right-of-use assets - Operating			1,884						12,696
Contract fulfillment costs			3,030						4,501
Other			2,606						2,136
Total deferred tax liabilities			178,959						120,290
Net deferred tax liabilities			$	(12,348)					$	(3,810)

Changes in our valuation allowance (in thousands) were as follows:

			For the Year Ended December 31,
			2023						2022
Balance at beginning-of-year			$	70,790					$	101,345
Credited to costs and expenses			(38,786)						(47,964)
Charged to other accounts (1)			—						17,409
Balance at end-of-year			$	32,004					$	70,790

______________

(1)Amounts charged to other accounts includes $17.3 million charged to shareholders’ equity and $0.1 million charged to discontinued operations for the year ended December 31, 2022.

Schedule of Changes in Unrecognized Tax Benefits

Changes in our unrecognized tax benefits (in thousands) were as follows:

			For the Year Ended December 31,
			2023						2022						2021
Balance at beginning-of-year			$	1,624					$	609					$	678
Gross increases - tax positions in prior period			7						616						—
Gross increases - tax positions in current period			969						399						—
Lapse of statute of limitations			—						—						(69)
Balance at end-of-year			$	2,600					$	1,624					$	609

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