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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Reconciliation of segment information to the totals reported in the accompanying consolidated financial statements | The tables below set forth information about the Company’s operating segments for the years ended December 31, 2024, 2023, and 2022, along with the items necessary to reconcile the segment information to the totals reported in the accompanying consolidated financial statements.
|  |  | Year Ended December 31, 2024
(In thousands) | Security Solutions |  | Digital Agreements |  | Corporate and Other |  | Total
Revenue | $ | 182,187 |  | $ | 60,992 |  | $ | — |  | $ | 243,179
Cost of goods sold | 49,319 |  | 19,281 |  | 3 |  | 68,603
Gross profit (1) | 132,868 |  | 41,711 |  | (3) |  | 174,576
Gross margin | 73% |  | 68% |  | * |  | 72%
Sales and marketing | 24,684 |  | 15,658 |  | 4,204 |  | 44,546
Research and development | 16,132 |  | 16,117 |  | 174 |  | 32,423
Other segment items (2)(4) | 1,990 |  | 4,321 |  | 46,491 |  | 52,802
Operating income (loss) (3)(5) | 90,062 |  | 5,615 |  | (50,872) |  | 44,805
Interest income, net |  |  |  |  |  |  | 1,807
Other income (expense), net |  |  |  |  |  |  | (125)
Income (loss) before income taxes |  |  |  |  |  |  | $ | 46,487
|  |  | Year Ended December 31, 2023
(In thousands) | Security Solutions |  | Digital Agreements |  | Corporate and Other |  | Total
Revenue | $ | 184,181 |  | $ | 50,925 |  | $ | — |  | $ | 235,106
Cost of goods sold | 64,207 |  | 13,183 |  | 1 |  | 77,391
Gross profit | 119,974 |  | 37,742 |  | (1) |  | 157,715
Gross margin | 65% |  | 74% |  | * |  | 67%
Sales and marketing | 35,356 |  | 31,566 |  | 3,313 |  | 70,235
Research and development | 18,894 |  | 18,687 |  | 839 |  | 38,420
Other segment items (2)(4) | 5,534 |  | 6,014 |  | 66,383 |  | 77,931
Operating (loss) income (3)(5) | 60,190 |  | (18,525) |  | (70,536) |  | (28,871)
Interest income, net |  |  |  |  |  |  | 2,090
Other income (expense), net |  |  |  |  |  |  | (532)
Income (loss) before income taxes |  |  |  |  |  |  | $ | (27,313)
|  |  | Year Ended December 31, 2022
(In thousands) | Security Solutions |  | Digital Agreements |  | Corporate and Other |  | Total
Revenue | $ | 170,605 |  | $ | 48,401 |  | $ | — |  | $ | 219,006
Cost of goods sold | 59,523 |  | 10,913 |  | — |  | 70,436
Gross profit | 111,082 |  | 37,488 |  | — |  | 148,570
Gross margin | 65% |  | 77% |  | * |  | 68%
Sales and marketing | 42,135 |  | 16,305 |  | 2,509 |  | 60,949
Research and development | 26,128 |  | 11,720 |  | 3,887 |  | 41,735
Other segment items (2)(4) | 10,768 |  | 4,115 |  | 58,118 |  | 73,001
Operating income (loss) (3)(5) | 32,051 |  | 5,348 |  | (64,514) |  | (27,115)
Interest income, net |  |  |  |  |  |  | 595
Other income (expense), net |  |  |  |  |  |  | 14,827
Income (loss) before income taxes |  |  |  |  |  |  | $ | (11,693)
* Percentage not meaningful (1) Digital Agreements gross profit includes an intangible asset write-off of $0.8 million and an internal capitalized software write-off of $0.7 million for the year ended December 31, 2024 (see Note 8, Intangible Assets, net and Note 9, Property and Equipment, net). (2) Security Solutions other segment items includes general and administrative expense, restructuring and other related charges, and amortization of intangibles for the years ended December 31, 2024, 2023, and 2022. (3) Security Solutions operating income includes $0.9 million, $0, and $1.7 million of total amortization and depreciation expense for the years ended December 31, 2024, 2023, and 2022, respectively. Security Solutions operating income includes $2.0 million, $5.5 million, and $9.0 million of restructuring and other related charges for the years ended December 31, 2024, 2023, and 2022, respectively. (4) Digital Agreements other segment items includes general and administrative expense, restructuring and other related charges, and amortization of intangibles for the years ended December 31, 2024, 2023, and 2022. (5) Digital Agreements operating income includes $6.2 million, $3.7 million, and $2.3 million of total amortization and depreciation for the years ended December 31, 2024, 2023, and 2022, respectively. Digital Agreements operating income includes $1.7 million, $3.7 million, and $1.9 million of restructuring and other related charges for the years ended December 31, 2024, 2023, and 2022, respectively.
Information regarding geographic areas | The following tables illustrate the disaggregation of revenues by category and services, including a reconciliation of the disaggregated revenues to revenues from the Company's two operating segments for the years ended December 31, 2024, 2023, and 2022.
|  |  | Years Ended December 31,
| 2024 |  | 2023 |  | 2022
(In thousands) | Security Solutions |  | Digital Agreements |  | Security Solutions |  | Digital Agreements |  | Security Solutions |  | Digital Agreements
Subscription | $ | 80,555 |  |  | $ | 58,848 |  |  | $ | 60,550 |  |  | $ | 45,886 |  |  | $ | 47,124 |  |  | $ | 42,029 |
Maintenance and support | 38,342 |  |  | 1,736 |  |  | 42,240 |  |  | 4,143 |  |  | 42,894 |  |  | 5,451 |
Professional services and other (1) | 4,439 |  |  | 408 |  |  | 5,425 |  |  | 896 |  |  | 7,087 |  |  | 921 |
Hardware products | 58,851 |  |  | — |  |  | 75,966 |  |  | — |  |  | 73,500 |  |  | — |
Total Revenue | $ | 182,187 |  |  | $ | 60,992 |  |  | $ | 184,181 |  |  | $ | 50,925 |  |  | $ | 170,605 |  |  | $ | 48,401 |
(1) Professional services and other includes perpetual software licenses revenue, which was immaterial for the year ended December 31, 2024 and approximately 1%, and 2% of total revenue for the years ended December 31, 2023 and 2022, respectively.
(In thousands) |  |  |  |  |  |  |  |
|  | Europe, Middle East, Africa (EMEA) |  | Americas |  | Asia Pacific |  | Total
2024 |  |  |  |  |  |  |  |
Revenue |  | $ | 108,555 |  |  | $ | 86,803 |  |  | $ | 47,821 |  |  | $ | 243,179 |
Long-lived assets |  | $ | 7,479 |  |  | $ | 20,699 |  |  | $ | 512 |  |  | $ | 28,690 |
2023 |  |  |  |  |  |  |  |
Revenue |  | $ | 111,568 |  |  | $ | 80,057 |  |  | $ | 43,481 |  |  | $ | 235,106 |
Long-lived assets |  | $ | 5,783 |  |  | $ | 18,795 |  |  | $ | 315 |  |  | $ | 24,893 |
2022 |  |  |  |  |  |  |  |
Revenue |  | $ | 100,298 |  |  | $ | 77,740 |  |  | $ | 40,968 |  |  | $ | 219,006 |
Long-lived assets |  | $ | 4,856 |  |  | $ | 15,270 |  |  | $ | 577 |  |  | $ | 20,703 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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