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Description of Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Contract Assets and Contract Liabilities | The following table sets for the Company's deferred costs to obtain contracts, as of December 31, 2024 and 2023:
(in thousands) | December 31, 2024 |  | December 31, 2023
Deferred costs to obtain contracts - Current assets | $ | 7,978 |  |  | $ | 13,495 |
Deferred costs to obtain contracts - Non-current assets | 638 |  |  | 1,285 |
The following table sets for the Company's deferred costs to fulfill contracts as of December 31, 2024 and 2023:
(in thousands) | December 31, 2024 |  | December 31, 2023
Deferred costs to fulfill contracts (1) | $ | 424 |  |  | $ | 3,227 |
(1) Included in deferred costs on the Company's consolidated balance sheets.
Schedule of Capitalized Contract Cost | Amortization of the Company's deferred costs to obtain contracts, for the years ended December 31, 2024, 2023, and 2022 was as follows:
| Years Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Amortization of deferred costs to obtain contracts (1) | $ | 18,283 |  |  | $ | 14,954 |  |  | $ | 12,110 |
(1) These costs were recorded in Sales and marketing in the Company's consolidated statements of operations and comprehensive (loss) income. Amortization of the Company's deferred costs to fulfill contracts for the years ended December 31, 2024, 2023, and 2022 was as follows:
| Years Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Amortization of deferred costs to fulfill contracts (1) | $ | 3,227 |  |  | $ | 2,689 |  |  | $ | 3,466 |
(1) These costs were recorded in Cost of services in the Company's consolidated statements of operations and comprehensive (loss) income.
Schedule of Cash and Cash Equivalents | The following table presents a reconciliation of cash, cash equivalents and restricted cash reported within the Company's consolidated balance sheets to the amount shown in the Company's consolidated statements of cash flows for the years ended December 31, 2024 and 2023:
(in thousands) | December 31, 2024 |  | December 31, 2023
Cash and cash equivalents | $ | 16,311 |  |  | $ | 18,216 |
Restricted cash, included in Other current assets | 1,450 |  |  | 2,314 |
Total cash, cash equivalents and restricted cash | $ | 17,761 |  |  | $ | 20,530 |
Schedule of Accounts, Notes, Loans and Financing Receivable | The following table represents the components of Accounts receivable, net of allowance:
|  |  | December 31,
(in thousands) |  |  | 2024 |  | 2023
Accounts receivable |  |  | $ | 45,552 |  |  | $ | 73,094 |
Unbilled accounts receivable (1) |  |  | 129,119 |  |  | 147,335 |
Total accounts receivable |  |  | $ | 174,671 |  |  | $ | 220,429 |
Less: allowance for credit losses |  |  | (13,051) |  |  | (14,926) |
Accounts receivable, net of allowance |  |  | $ | 161,620 |  |  | $ | 205,503 |
(1) Unbilled accounts receivable relates primarily to the Company’s print services, which are recognized at a point in time upon delivery of the print services to the intended market(s), but are billed to customers monthly after the delivery of the print services. Unbilled accounts receivable are reclassified as billed accounts receivable monthly when the customers are invoiced. The following table represents the components of unbilled accounts receivable from contracts with customers:
|  |  | December 31,
(in thousands) |  |  | 2024 |  | 2023
Unbilled accounts receivable - current |  |  | $ | 129,119 |  |  | $ | 147,335 |
Unbilled accounts receivable - non-current (1) |  |  | 16,847 |  |  | 16,165 |
Total unbilled accounts receivable |  |  | $ | 145,966 |  |  | $ | 163,500 |
(1) Included in Other assets on the Company's consolidated balance sheets. Revenue recognized related to Unbilled accounts receivable - non-current balances for the years ended December 31, 2024 and 2023 was $62.2 million and $70.7 million, respectively.
Schedule of Property, Plant and Equipment | The remaining useful lives of fixed assets and capitalized software are reviewed annually for reasonableness. Fixed assets and capitalized software are depreciated on a straight-line basis over the estimated useful lives of the assets, which are presented in the following table:
| Estimated Useful Lives
Buildings and building improvements | 8 - 30 years
Leasehold improvements(1) | 1 - 8 years
Computer and data processing equipment | 3 years
Furniture and fixtures | 7 years
Capitalized software | 1.5 - 5 years
Other | 3 - 7 years
(1) Leasehold improvements are depreciated at the shorter of their estimated useful lives or the lease term. See Note 7, Fixed Assets and Capitalized Software. The following table sets forth the components of the Company's fixed assets and capitalized software:
(in thousands) | December 31, 2024 |  | December 31, 2023
Capitalized software | $ | 187,721 |  |  | $ | 154,590 |
Computer and data processing equipment | 36,224 |  |  | 39,077 |
Other | 1,268 |  |  | 1,314 |
Fixed assets and capitalized software | $ | 225,213 |  |  | $ | 194,981 |
Less: accumulated depreciation and amortization | 180,735 |  |  | 156,382 |
Total fixed assets and capitalized software, net | $ | 44,478 |  |  | $ | 38,599 |
Depreciation and amortization expense associated with the Company's fixed assets and capitalized software was as follows:
| Years Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Amortization of capitalized software | $ | 30,905 |  |  | $ | 30,087 |  |  | $ | 29,882 |
Depreciation of fixed assets | 5,888 |  |  | 7,709 |  |  | 6,976 |
Total depreciation and amortization expense | $ | 36,793 |  |  | $ | 37,796 |  |  | $ | 36,858 |
Schedule of Finite-Lived Intangible Assets | The Company’s intangible assets and their estimated useful lives are presented in the table below:
| Estimated Useful Lives
Client relationships | 3.5 - 8 years
Trademarks and domain names | 2.5 - 8 years
Covenants not to compete | 3 years
The following tables set forth the details of the Company's intangible assets as of December 31, 2024 and 2023:
| As of December 31, 2024
(in thousands) | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Amortization Period in Years
Client relationships | $ | 818,781 |  |  | $ | (790,891) |  |  | $ | 27,890 |  |  | 7.4
Trademarks and domain names | 228,021 |  |  | (221,936) |  |  | 6,085 |  |  | 7.4
Covenants not to compete | 5,221 |  |  | (4,937) |  |  | 284 |  |  | 0.5
Total intangible assets | $ | 1,052,023 |  |  | $ | (1,017,764) |  |  | $ | 34,259 |  |  | 7.4
| As of December 31, 2023
(in thousands) | Gross |  | Accumulated Amortization |  | Net |  | Weighted Average Remaining Amortization Period in Years
Client relationships | $ | 799,882 |  |  | $ | (787,736) |  |  | $ | 12,146 |  |  | 1.4
Trademarks and domain names | 224,423 |  |  | (220,886) |  |  | 3,537 |  |  | 1.9
Covenants not to compete | 10,446 |  |  | (7,341) |  |  | 3,105 |  |  | 0.8
Total intangible assets | $ | 1,034,751 |  |  | $ | (1,015,963) |  |  | $ | 18,788 |  |  | 1.4

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