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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information

The following tables are in thousands:

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30, 2023

 

Software

 

 

CES

 

 

All other

 

 

Total

 

Revenue

 

$

125,594

 

 

$

7,126

 

 

$

1,283

 

 

$

134,003

 

Adjusted EBITDA

 

$

15,312

 

 

$

502

 

 

$

(360

)

 

$

15,454

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30, 2022

 

Software

 

 

CES

 

 

All other

 

 

Total

 

Revenue

 

$

110,471

 

 

$

7,355

 

 

$

1,525

 

 

$

119,351

 

Adjusted EBITDA

 

$

6,368

 

 

$

856

 

 

$

(395

)

 

$

6,829

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 2023

 

Software

 

 

CES

 

 

All other

 

 

Total

 

Revenue

 

$

414,322

 

 

$

22,936

 

 

$

3,940

 

 

$

441,198

 

Adjusted EBITDA

 

$

75,791

 

 

$

1,544

 

 

$

(1,770

)

 

$

75,565

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 2022

 

Software

 

 

CES

 

 

All other

 

 

Total

 

Revenue

 

$

384,698

 

 

$

22,414

 

 

$

4,676

 

 

$

411,788

 

Adjusted EBITDA

 

$

69,083

 

 

$

2,060

 

 

$

(1,284

)

 

$

69,859

 
Reconciliation of U.S. GAAP (Loss) Income Before Income Taxes to Adjusted EBITDA

 

 

Three Months Ended
 September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Reconciliation of Adjusted EBITDA to U.S. GAAP
   loss before income taxes:

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA

 

$

15,454

 

 

$

6,829

 

 

$

75,565

 

 

$

69,859

 

Stock-based compensation expense

 

 

(20,526

)

 

 

(22,710

)

 

 

(66,423

)

 

 

(62,524

)

Interest expense

 

 

(1,529

)

 

 

(1,566

)

 

 

(4,583

)

 

 

(2,851

)

Depreciation and amortization

 

 

(9,783

)

 

 

(8,273

)

 

 

(29,271

)

 

 

(24,092

)

Special adjustments, interest income and other (1)

 

 

5,481

 

 

 

(2,949

)

 

 

7,480

 

 

 

(20,878

)

Loss before income taxes

 

$

(10,903

)

 

$

(28,669

)

 

$

(17,232

)

 

$

(40,486

)

 

(1)
The three months ended September 30, 2023, includes $4.8 million of interest income, a $3.5 million gain from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition, and $2.8 million of currency losses on acquisition-related intercompany loans. The three months ended September 30, 2022, includes $6.8 million currency losses on acquisition-related intercompany loans, a $2.2 million gain from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition, and $1.7 million of interest income. The nine months ended September 30, 2023, includes $11.7 million of interest income, a $4.5 million loss from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition, and $0.3 million of currency gains on acquisition-related intercompany loans. The nine months ended September 30, 2022, includes $16.6 million expense on repurchase of convertible senior notes, $13.7 million of currency losses on acquisition-related intercompany loans, a $7.5 million gain from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition, and $2.0 million of interest income.