Business Combination, Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Assets and Liabilities Acquired

The tables below presents the fair value of the consideration exchanged and the allocation of purchase consideration to the major classes of assets and liabilities of Clairvoyant as of December 16, 2021:

Assets:
Cash and cash equivalents	$	5,598
Accounts receivable, net	8,709
Other current assets	360
Property and equipment, net	398
Intangible assets, net
Customer relationships	31,600
Developed technology	2,070
Trade names and trademarks	300
Non-compete agreements	300
Other assets	217
Total assets	$	49,552
Liabilities:
Accounts payable	$	(1,199)
Accrued expenses and other current liabilities	(4,873)
Deferred tax liabilities	(9,383)
Other non-current liabilities	(1,226)
Total liabilities	(16,681)

Net assets acquired	32,871
Goodwill	57,454
Total purchase consideration*	$	90,325

* Includes contingent consideration of $9,000 recognized at fair value as of the date of acquisition.

Schedule of Goodwill

The following table sets forth details of changes in goodwill by reportable segment of the Company:

	Insurance		Healthcare		Emerging Business		Analytics		Total
Balance as of January 1, 2022	$	50,428	$	21,942	$	49,020	$	282,512	$	403,902
Acquisition	—		—		—		1,992		1,992
Measurement period adjustments	—		—		—		2,229		2,229
Currency translation adjustments	(654)		(57)		(1,630)		(1)		(2,342)
Balance as of September 30, 2022	$	49,774	$	21,885	$	47,390	$	286,732	$	405,781

Schedule of Indefinite Lived Intangible Assets

Information regarding the Company’s intangible assets is set forth below:

	As of September 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	99,146	$	(36,999)	$	62,147
Developed technology	24,759		(19,539)		5,220
Trade names and trademarks	1,700		(1,230)		470
Non-compete agreements	336		(65)		271
	$	125,941	$	(57,833)	$	68,108
Indefinite-lived intangible assets:
Trade names and trademarks	$	900	$	—	$	900
Total intangible assets	$	126,841	$	(57,833)	$	69,008

	As of December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	103,016	$	(33,018)	$	69,998
Developed technology	25,040		(15,850)		9,190
Trade names and trademarks	1,700		(1,006)		694
Non-compete agreements	300		—		300
	$	130,056	$	(49,874)	$	80,182
Indefinite-lived intangible assets:
Trade names and trademarks	$	900	$	—	$	900
Total intangible assets	$	130,956	$	(49,874)	$	81,082

Schedule of Amortization of Intangible Assets

The amortization expense recognized in the unaudited consolidated statements of income was as follows:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Amortization expense	$	4,243	$	3,022	$	12,875	$	9,780

Schedule of Finite Lived Intangible Assets Useful Lives

The remaining weighted average life of intangible assets is as follows:

	(in years)
Customer relationships	5.7
Developed technology	1.5
Trade names and trademarks (Finite lived)	1.7
Non-compete agreements	3.0

Schedule of Estimated Future Amortization of Intangible Assets

Estimated future amortization expense related to finite-lived intangible assets as of September 30, 2022 was as follows:
2022 (October 1 - December 31)	$	4,228
2023	14,634
2024	12,123
2025	10,686
2026	10,357
2027 and thereafter	16,080
Total	$	68,108