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Operating Segment and Enterprise Wide Reporting (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Information about Reportable Segments, Disaggregation of Revenue by Product | The Company provides information by reportable segment in the tables below (in thousands):
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Year Ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 316,739 |  |  | $ | — |  |  | $ | — |  |  | $ | 316,739 |
Consulting revenues |  |  | 21,095 |  |  |  | 76,159 |  |  |  | — |  |  |  | 97,254 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 18,477 |  |  |  | 18,477 |
Total segment revenues |  |  | 337,834 |  |  |  | 76,159 |  |  |  | 18,477 |  |  |  | 432,470 |
Segment expenses (1): |  |  |  |  |  |  |  |  |  |  |  |
Compensation, benefits and related costs |  |  | (100,620 | ) |  |  | (27,782 | ) |  |  | (5,567 | ) |  |  | (133,969 | )
Direct costs of Events |  |  | — |  |  |  | — |  |  |  | (13,429 | ) |  |  | (13,429 | )
Professional services |  |  | (10,864 | ) |  |  | (1,735 | ) |  |  | (108 | ) |  |  | (12,707 | )
Billable expenses |  |  | (548 | ) |  |  | (7,926 | ) |  |  | — |  |  |  | (8,474 | )
Travel and entertainment |  |  | (1,895 | ) |  |  | (358 | ) |  |  | (104 | ) |  |  | (2,357 | )
Software |  |  | (1,278 | ) |  |  | (8 | ) |  |  | (5 | ) |  |  | (1,291 | )
Other segment expenses (2) |  |  | (446 | ) |  |  | (19 | ) |  |  | (37 | ) |  |  | (502 | )
Total segment expenses |  |  | (115,651 | ) |  |  | (37,828 | ) |  |  | (19,250 | ) |  |  | (172,729 | )
Segment operating income (loss) |  |  | 222,183 |  |  |  | 38,331 |  |  |  | (773 | ) |  |  | 259,741 |
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (235,805 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (9,648 | )
Restructuring costs |  |  |  |  |  |  |  |  |  |  |  | (11,773 | )
Loss from sale of divested operation |  |  |  |  |  |  |  |  |  |  |  | (1,775 | )
Interest expense, other income, and gains on investments |  |  |  |  |  |  |  |  |  |  |  | 1,897 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 2,637 |
(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (2) Other segment expenses for each reportable segment includes office supplies, maintenance, and certain overhead expenses.
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 334,396 |  |  | $ | — |  |  | $ | — |  |  | $ | 334,396 |
Consulting revenues |  |  | 28,826 |  |  |  | 89,402 |  |  |  | — |  |  |  | 118,228 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 28,155 |  |  |  | 28,155 |
Total segment revenues |  |  | 363,222 |  |  |  | 89,402 |  |  |  | 28,155 |  |  |  | 480,779 |
Segment expenses (1): |  |  |  |  |  |  |  |  |  |  |  |
Compensation, benefits and related costs |  |  | (109,025 | ) |  |  | (34,324 | ) |  |  | (6,049 | ) |  |  | (149,398 | )
Direct costs of Events |  |  | — |  |  |  | — |  |  |  | (14,293 | ) |  |  | (14,293 | )
Professional services |  |  | (11,861 | ) |  |  | (2,272 | ) |  |  | (60 | ) |  |  | (14,193 | )
Billable expenses |  |  | (595 | ) |  |  | (8,113 | ) |  |  | — |  |  |  | (8,708 | )
Travel and entertainment |  |  | (1,690 | ) |  |  | (297 | ) |  |  | (124 | ) |  |  | (2,111 | )
Software |  |  | (1,729 | ) |  |  | (11 | ) |  |  | (14 | ) |  |  | (1,754 | )
Other segment expenses (2) |  |  | (492 | ) |  |  | (11 | ) |  |  | (17 | ) |  |  | (520 | )
Total segment expenses |  |  | (125,392 | ) |  |  | (45,028 | ) |  |  | (20,557 | ) |  |  | (190,977 | )
Segment operating income |  |  | 237,830 |  |  |  | 44,374 |  |  |  | 7,598 |  |  |  | 289,802 |
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (257,808 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (11,956 | )
Restructuring costs |  |  |  |  |  |  |  |  |  |  |  | (13,272 | )
Interest expense, other income, and gains on investments |  |  |  |  |  |  |  |  |  |  |  | (481 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 6,285 |
(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (2) Other segment expenses for each reportable segment includes office supplies, maintenance, and certain overhead expenses.
|  | Research Segment |  |  | Consulting Segment |  |  | Events Segment |  |  | Consolidated |
Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Research revenues |  | $ | 354,453 |  |  | $ | — |  |  | $ | — |  |  | $ | 354,453 |
Consulting revenues |  |  | 41,559 |  |  |  | 111,028 |  |  |  | — |  |  |  | 152,587 |
Events revenues |  |  | — |  |  |  | — |  |  |  | 30,747 |  |  |  | 30,747 |
Total segment revenues |  |  | 396,012 |  |  |  | 111,028 |  |  |  | 30,747 |  |  |  | 537,787 |
Segment expenses (1): |  |  |  |  |  |  |  |  |  |  |  |
Compensation, benefits and related costs |  |  | (107,870 | ) |  |  | (37,625 | ) |  |  | (7,187 | ) |  |  | (152,682 | )
Direct costs of Events |  |  | — |  |  |  | — |  |  |  | (14,373 | ) |  |  | (14,373 | )
Professional services |  |  | (13,441 | ) |  |  | (8,063 | ) |  |  | (62 | ) |  |  | (21,566 | )
Billable expenses |  |  | (740 | ) |  |  | (10,712 | ) |  |  | — |  |  |  | (11,452 | )
Travel and entertainment |  |  | (1,414 | ) |  |  | (357 | ) |  |  | (123 | ) |  |  | (1,894 | )
Software |  |  | (1,488 | ) |  |  | (103 | ) |  |  | (1 | ) |  |  | (1,592 | )
Other segment expenses (2) |  |  | (476 | ) |  |  | (29 | ) |  |  | (55 | ) |  |  | (560 | )
Total segment expenses |  |  | (125,429 | ) |  |  | (56,889 | ) |  |  | (21,801 | ) |  |  | (204,119 | )
Segment operating income |  |  | 270,583 |  |  |  | 54,139 |  |  |  | 8,946 |  |  |  | 333,668 |
Selling, marketing, administrative and other expenses |  |  |  |  |  |  |  |  |  |  |  | (278,518 | )
Amortization of intangible assets |  |  |  |  |  |  |  |  |  |  |  | (13,161 | )
Restructuring costs |  |  |  |  |  |  |  |  |  |  |  | (9,335 | )
Interest expense, other income, and gains on investments |  |  |  |  |  |  |  |  |  |  |  | (1,930 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 30,724 |
(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (2) Other segment expenses for each reportable segment includes office supplies, maintenance, and certain overhead expenses.
Schedule of Net Long-lived Tangible Assets by Location | Net long-lived tangible assets by location as of December 31, 2024 and 2023 are as follows (in thousands):
|  | 2024 |  |  | 2023 |
United States |  | $ | 30,307 |  |  | $ | 48,001 |
United Kingdom |  |  | 7,043 |  |  |  | 8,194 |
Europe (excluding United Kingdom) |  |  | 191 |  |  |  | 186 |
Asia Pacific |  |  | 1,207 |  |  |  | 2,742 |
Total |  | $ | 38,748 |  |  | $ | 59,123 |
Schedule of Revenues by Geographic Destination, Based on Location Products and Services and as a Percentage of Total Revenues | Revenues by geographic destination, based on the location products and services are consumed, and as a percentage of total revenues for the years ended December 31, 2024, 2023, and 2022 are as follows (dollars in thousands):
|  | 2024 |  |  | 2023 |  |  | 2022 |
United States |  | $ | 334,095 |  |  | $ | 373,483 |  |  | $ | 426,041 |
Europe (excluding United Kingdom) |  |  | 37,698 |  |  |  | 37,912 |  |  |  | 36,664 |
United Kingdom |  |  | 18,934 |  |  |  | 21,311 |  |  |  | 20,079 |
Canada |  |  | 12,221 |  |  |  | 16,416 |  |  |  | 20,759 |
Asia Pacific |  |  | 20,778 |  |  |  | 23,604 |  |  |  | 26,548 |
Other |  |  | 8,744 |  |  |  | 8,053 |  |  |  | 7,696 |
Total |  | $ | 432,470 |  |  | $ | 480,779 |  |  | $ | 537,787 |
|  | 2024 |  |  | 2023 |  |  | 2022 |
United States |  |  | 77 | % |  |  | 78 | % |  |  | 77 | %
Europe (excluding United Kingdom) |  |  | 9 |  |  |  | 8 |  |  |  | 9 |
United Kingdom |  |  | 4 |  |  |  | 4 |  |  |  | 5 |
Canada |  |  | 3 |  |  |  | 3 |  |  |  | 3 |
Asia Pacific |  |  | 5 |  |  |  | 5 |  |  |  | 5 |
Other |  |  | 2 |  |  |  | 2 |  |  |  | 1 |
Total |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + 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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