Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision

The income tax provision for the years ended December 31, 2022, 2023 and 2024 is summarized below (in thousands):

	2022		2023		2024
Current:
Federal	$	13,825	$	20,071	$	25,896
State	5,650		6,228		8,844
Foreign	12,063		10,962		14,295
Total current	31,538		37,261		49,035
Deferred:
Federal	(1,978)		(2,437)		(843)
State	(1,668)		(100)		838
Foreign	(4,993)		(3,789)		(282)
Total deferred	(8,639)		(6,326)		(287)
Total provision for income taxes	$	22,899	$	30,935	$	48,748

Schedule of Income Before Income Taxes

The U.S. and foreign components of income before income taxes for the years ended December 31, 2022, 2023 and 2024 are summarized below (in thousands):

	2022		2023		2024
United States	$	46,646	$	76,893	$	118,785
Foreign	22,923		23,833		42,647
Total income before income taxes	$	69,569	$	100,726	$	161,432

Schedule of Tax Effects of Principal Temporary Differences Affecting Net Deferred Tax Assets (Liabilities)

The tax effects of the principal temporary differences that give rise to the Company’s net deferred tax liability are as follows as of December 31, 2023 and 2024 (in thousands):

	2023		2024
Lease liabilities	$	19,521	$	15,182
Allowance for credit losses	13,056		12,465
Stock-based compensation	8,816		9,758
Contract liabilities	9,669		8,972
Other	4,715		4,189
Loss carryforward	2,976		3,088
Other facility-related costs	1,109		1,033
Intangible assets	(70,135)		(69,712)
Right-of-use lease assets	(10,522)		(9,397)
Valuation allowance	(2,653)		(2,991)
Property and equipment	(4,890)		(173)
Net deferred tax liability	$	(28,338)	$	(27,586)

Schedule of Changes in Unrecognized Tax Benefits

The following table summarizes changes in unrecognized tax benefits, excluding interest and penalties, for the respective periods (in thousands):

	Year Ended December 31,
	2023		2024
Beginning unrecognized tax benefits	$	948	$	948
Additions for tax positions taken in the prior year	—		—
Reductions for tax positions taken in prior years	—		(948)
Ending unrecognized tax benefits	$	948	$	—

Schedule of Reconciliation Between Statutory Tax Rate and Effective Tax Rate

A reconciliation between the Company’s statutory tax rate and the effective tax rate for the years ended December 31, 2022, 2023, and 2024 is as follows:

	2022		2023		2024
Statutory federal rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefits	3.2		3.7		3.8
Impact of foreign operations	3.0		2.1		2.4
Nondeductible compensation	2.4		1.9		1.4
Excess tax benefit on share-based compensation	1.7		1.1		0.6
Change in valuation allowance	1.7		0.8		0.2
Other	(0.1)		0.1		0.8
Effective tax rate	32.9	%	30.7	%	30.2	%