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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense | The components of income tax expense included in our consolidated statements of operations were as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (In thousands)
Current: |  |  |  |  |
Federal | $ | 10,972 |  |  | $ | 15,036 |  |  | $ | 20,304 |
State | 2,896 |  |  | 3,881 |  |  | 5,413 |
Foreign | 651 |  |  | 861 |  |  | 666 |
Current income tax expense | 14,519 |  |  | 19,778 |  |  | 26,383 |
Deferred: |  |  |  |  |
Federal | (7,449) |  |  | (9,040) |  |  | (4,031) |
State | (2,906) |  |  | (2,666) |  |  | (2,730) |
Foreign | (1) |  |  | (161) |  |  | 87 |
Deferred income tax benefit | (10,356) |  |  | (11,867) |  |  | (6,674) |
Income tax expense | $ | 4,163 |  |  | $ | 7,911 |  |  | $ | 19,709 |
Schedule of Reconciliation of Effective Tax Rate | The sources and tax effects of the differences are as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
U.S. federal statutory tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal tax benefit | 2.1 |  |  | 2.0 |  |  | 2.2 |
Foreign tax rate differential | 1.0 |  |  | (1.5) |  |  | (0.3) |
General business credits | 10.2 |  |  | (25.0) |  |  | (3.2) |
Stock-based compensation | (31.4) |  |  | 28.8 |  |  | 3.2 |
Bank owned life insurance income | 2.6 |  |  | (4.2) |  |  | (0.7) |
Bank owned life insurance surrender | (10.0) |  |  | — |  |  | — |
Nondeductible penalties | (22.4) |  |  | 29.1 |  |  | 0.1 |
Global intangible low-tax income tax | (1.4) |  |  | 2.0 |  |  | 0.3 |
IRC 162(m) limitation | 12.7 |  |  | 0.4 |  |  | 0.8 |
Change in valuation allowance | (1.9) |  |  | — |  |  | — |
Other | (1.0) |  |  | 1.5 |  |  | 0.1 |
Effective tax rate | (18.5) | % |  | 54.1 | % |  | 23.5 | %
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary difference that give rise to significant portions of our deferred tax assets and liabilities were as follows:
| December 31,
| 2024 |  | 2023
| (In thousands)
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 8,424 |  |  | $ | 8,349 |
Stock-based compensation | 8,370 |  |  | 8,695 |
Reserve for overdrawn accounts | 6,736 |  |  | 6,441 |
Accrued liabilities | 5,051 |  |  | 3,071 |
Lease liabilities | 1,895 |  |  | 1,110 |
Internal-use software costs | 7,768 |  |  | — |
Tax credit carryforwards | 13,296 |  |  | 12,641 |
Unrealized loss on available-for-sale securities | 91,583 |  |  | 94,338 |
Other | 5,840 |  |  | 4,259 |
Unrealized loss on equity securities | 628 |  |  | — |
Capital loss carryforwards | 13 |  |  | — |
Gross deferred tax assets | 149,604 |  |  | 138,904 |
Valuation allowance | (519) |  |  | — |
Total deferred tax assets | $ | 149,085 |  |  | $ | 138,904 |
Deferred tax liabilities: |  |  |
Internal-use software costs | $ | — |  |  | $ | 1,458 |
Property and equipment, net | 1,274 |  |  | 1,237 |
Deferred expenses | 312 |  |  | 390 |
Intangible assets | 21,335 |  |  | 17,786 |
Lease right-of-use assets | 1,759 |  |  | 894 |
Total deferred tax liabilities | 24,680 |  |  | 21,765 |
Net deferred tax assets | $ | 124,405 |  |  | $ | 117,139 |
Schedule of Unrecognized Tax Benefits Roll Forward | The reconciliation of the beginning unrecognized tax benefits balance to the ending balance is as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (In thousands)
Beginning balance | $ | 12,109 |  |  | $ | 11,178 |  |  | $ | 10,972 |
Increases related to positions taken during prior years | 27 |  |  | 543 |  |  | 6 |
Increases related to positions taken during the current year | 1,339 |  |  | 1,431 |  |  | 1,260 |
Decreases related to positions taken during prior years | (44) |  |  | — |  |  | — |
Decreases related to positions settled with tax authorities | (86) |  |  | (90) |  |  | — |
Decreases due to a lapse of applicable statute of limitations | (804) |  |  | (953) |  |  | (1,060) |
Ending balance | $ | 12,541 |  |  | $ | 12,109 |  |  | $ | 11,178 |
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate | $ | 11,999 |  |  | $ | 11,611 |  |  | $ | 10,720 |

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