Income taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of income before provision for income taxes

The following table showed income/(loss) before provision for income taxes based on geographical location to which such income was attributable for the periods indicated:

	For the years ended December 31,
	2024		2023		2022
	(in thousands)
United States	$	(13,393)	$	(6,107)	$	(23,490)
International	24,448		10,945		3,037
Total income/(loss) before provision for income taxes	$	11,055	$	4,838	$	(20,453)

Schedule of federal and state income tax provision/ (benefit)

Provision./(benefit) for the income taxes consisted of the following components:

	For the years ended December 31,
	2024		2023		2022
	(in thousands)
Current
Federal	$	4,900	$	3,619	$	6,951
State	1,051		941		1,774
International	5,096		6,183		3,681
Deferred
Federal	(3,463)		(2,265)		(2,740)
State	(92)		(474)		(315)
International	(478)		(1,401)		(590)
Total tax expense	$	7,014	$	6,603	$	8,761

Schedule of deferred tax assets and liability

The tax effects of significant items comprising the Company’s deferred taxes as of December 31, 2024 and 2023 were as follows:

	As of December 31,
	2024		2023
	(in thousands)
Deferred tax assets
Stock-based compensation	$	5,365	$	3,833
R&D capitalization	4,559		3,968
Accrued compensation and benefits	2,502		1,950
Operating lease liabilities	577		636
Other	285		635
Total deferred tax assets	$	13,288	$	11,022
Deferred tax liabilities
Intangible assets	$	(12,751)	$	(6,908)
Operating lease right-of-use assets	(546)		(597)
Other	(131)		(373)
Total deferred tax liabilities	(13,428)		(7,878)
Net deferred taxes	$	(140)	$	3,144

Schedule of net operating losses and tax credit carryforwards

Net operating losses and tax credit carryforwards as of December 31, 2024 were as follows:

	Amount		Expiration years
	(in thousands)
Net operating losses, federal	$	362	N/A
Net operating losses, state	$	7,005	2040

Schedule of effective tax rate reconciliation

The effective tax rate of the Company differs from the federal statutory rate as follows:

	For the years ended December 31,
	2024		2023		2022
U.S. federal statutory rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal benefit	8.4		10.1		(7.5)
Permanent and other items	1.7		(9.9)		(1.0)
Stock-based compensation	7.2		39.3		4.4
Tax credits	(30.6)		(120.0)		13.9
Foreign tax rate differential	(4.1)		7.2		(11.9)
Foreign inclusion adjustments	29.4		74.7		(10.8)
Foreign intangible amortization	0.2		10.2		(2.3)
162M limitation	30.2		103.9		(48.6)
Total	63.4	%	136.5	%	(42.8)	%

Schedule of unrecognized tax benefits

A reconciliation of beginning to ending amounts of unrecognized tax benefits is as follows:

	For the years ended December 31,
	2024		2023		2022
	(in thousands)
Unrecognized tax benefit as of January 1	$	1,162	$	1,151	$	780
Changes related to prior year tax positions	(35)		(101)		168
Changes related to current year tax positions	244		112		203
Unrecognized tax benefit as of December 31	$	1,371	$	1,162	$	1,151