Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Segment Reporting Information

The following tables are in thousands:


Year ended December 31, 2023	Software		CES		Other			Total
Revenue	$	578,006	$	29,497	$	5,198		$	612,701
Adjusted EBITDA	$	129,164	$	2,288	$	(2,314	)	$	129,138


Year ended December 31, 2022	Software		CES		Other			Total
Revenue	$	537,169	$	28,883	$	6,169		$	572,221
Adjusted EBITDA	$	107,638	$	2,576	$	(1,614	)	$	108,600


Year ended December 31, 2021	Software		CES		Other			Total
Revenue	$	485,569	$	39,282	$	7,328		$	532,179
Adjusted EBITDA	$	82,845	$	4,723	$	(2,315	)	$	85,253

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


	Year ended December 31,
	2023			2022			2021
Reconciliation of Adjusted EBITDA to GAAP income (loss) before income taxes:
Adjusted EBITDA	$	129,138		$	108,600		$	85,253
Stock-based compensation expense		(85,581	)		(84,787	)		(44,549	)
Interest expense		(6,116	)		(4,377	)		(12,065	)
Depreciation and amortization		(39,124	)		(35,504	)		(25,644	)
Restructuring expense		—			—			(5,053	)
Special adjustments, interest income and other (1)		14,302			(12,145	)		1,770
Income (loss) before income taxes	$	12,619		$	(28,213	)	$	(288	)

(1)

The year ended December 31, 2023, includes $3.2 million currency gains on acquisition-related intercompany loans, $5.7 million losses from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition and $16.9 million of interest income. The year ended December 31, 2022, includes $16.6 million expense on repurchase of convertible senior notes, $6.8 million currency losses on acquisition-related intercompany loans, $7.2 million gains from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition and $4.1 million of interest income. The year ended December 31, 2021, includes $1.2 million currency gains on acquisition-related intercompany loans and $0.5 million of interest income.

Summary of Sales to External Customers and Long-Lived Assets by Geographical Areas

Revenue is attributed to geographic areas based on the country of origin. The following table provides sales to external customers and long-lived assets for each of the geographic areas in which the Company operates (in thousands):


	Revenue						Long-lived assets (1)
	Year ended December 31,						December 31,
	2023		2022		2021		2023		2022
United States	$	301,857	$	274,635	$	259,344	$	50,448	$	56,853
Other countries		17,792		13,425		12,249		3,538		5,841
Total Americas		319,649		288,060		271,593		53,986		62,694
Germany		46,593		51,495		52,227		19,821		25,332
France		23,122		19,442		19,694		938		740
Other countries		66,903		69,769		52,264		32,264		39,405
Total Europe, Middle East and Africa		136,618		140,706		124,185		53,023		65,477
Japan		39,508		40,335		42,322		682		944
Other countries		116,926		103,120		94,079		5,184		5,585
Total Asia Pacific		156,434		143,455		136,401		5,866		6,529
Total	$	612,701	$	572,221	$	532,179	$	112,875	$	134,700

(1)

Includes property and equipment, net and definite-lived intangible assets, net.