Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision (Benefit)

The Company’s income tax provision was as follows:

	Year Ended December 31,
	2023		2022		2021
Current provision
Federal	$	43,214	$	31,348	$	16,273
State	10,255		8,798		4,605
Foreign	10		26		—
Total current provision	53,479		40,172		20,878
Deferred benefit
Federal	(8,863)		(5,061)		(578)
State	(269)		(1,608)		(984)
Foreign	—		(4)		—
Total deferred benefit	(9,132)		(6,673)		(1,562)
Total income tax expense	$	44,347	$	33,499	$	19,316

Schedule of Reconciliation of Federal Statutory Tax Rate to Effective Income Tax Rate

The reconciliation of the federal statutory tax rate to the Company’s effective income tax rate was as follows:

	Year Ended December 31,
	2023		2022		2021
Statutory U.S. federal income tax rate:	21.00	%	21.00	%	21.00	%
Increase in rate resulting from:
Non-deductible meals & entertainment	0.12	%	0.01	%	0.10	%
Penalties	1.19	%	—	%	—	%
Qualified transportation fringe benefits	0.03	%	0.03	%	0.09	%
Equity compensation	0.23	%	0.27	%	19.22	%
Executive compensation limitation	0.86	%	0.16	%	1.28	%
State income tax, net of federal income tax effect	4.72	%	4.05	%	6.03	%
Unrecognized tax benefits	(0.11)	%	0.05	%	1.70	%
Research & development tax credit	(0.87)	%	(1.39)	%	(5.21)	%
Return to provision	(0.34)	%	0.06	%	(1.76)	%
Other, net	(0.35)	%	0.25	%	0.48	%
Effective rate	26.48	%	24.49	%	42.93	%

Summary of Components of Net Deferred Income Tax Liability

The components of the Company’s deferred income tax liability, net was as follows:

	December 31,
	2023		2022
Assets:
Accrued expenses	$	9,030	$	7,633
Federal benefit of state tax expense	6,180		5,790
Federal and state net operating loss carryforwards	12,938		15,598
Tax credit carryforwards	3,270		2,885
Operating lease liabilities	8,118		8,549
Share-based compensation	5,597		5,359
Other	47		103
Total deferred income tax assets	45,180		45,917
Liabilities:
Other intangible assets	169,372		170,407
Property and equipment, and capitalized software	6,137		14,307
Operating lease right-of-use assets	6,638		6,960
Other	2,105		1,740
Total deferred income tax liabilities	184,252		193,414
Net deferred income tax liability	$	139,072	$	147,497

Schedule of Reconciliation of Unrecognized Tax Benefits

The reconciliation of the beginning and ending amounts of the Company’s unrecognized tax benefits is as follows:

	December 31,
	2023		2022
Balance, beginning of year	$	5,655	$	4,918
Increases related to prior year tax positions	723		313
Decreases related to prior year tax positions	(224)		—
Decreases related to prior year tax positions due to closure of statute	(771)		(389)
Increases related to current year tax positions	918		813
Balance, end of year	$	6,301	$	5,655