0000950170-22-014838 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2022	Jul. 22, 2022
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Trading Symbol	ALTR
Entity Registrant Name	ALTAIR ENGINEERING INC.
Entity Central Index Key	0001701732
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	001-38263
Entity Tax Identification Number	38-2591828
Entity Address, Address Line One	1820 East Big Beaver Road
Entity Address, City or Town	Troy
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48083
City Area Code	248
Local Phone Number	614-2400
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Class A Common Stock $0.0001 par value per share
Security Exchange Name	NASDAQ
Class A Common Stock [Member]
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		52,201,672
Class B Common Stock [Member]
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		27,744,574

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 416,137	$ 413,743
Accounts receivable, net	103,483	137,561
Income tax receivable	11,412	9,388
Prepaid expenses and other current assets	23,282	27,529
Total current assets	554,314	588,221
Property and equipment, net	39,370	40,478
Operating lease right of use assets	24,977	28,494
Goodwill	385,989	370,178
Other intangible assets, net	90,327	99,057
Deferred tax assets	7,943	8,495
Other long-term assets	25,588	28,352
TOTAL ASSETS	1,128,508	1,163,275
CURRENT LIABILITIES:
Accounts payable	4,962	6,647
Accrued compensation and benefits	31,084	42,307
Current portion of operating lease liabilities	9,433	9,933
Other accrued expenses and current liabilities	49,444	122,226
Deferred revenue	92,141	93,160
Convertible senior notes, net	0	199,705
Total current liabilities	187,064	473,978
Operating lease liabilities, net of current portion	16,340	19,550
Deferred revenue, non-current	20,785	12,872
Convertible senior notes, net	304,676	0
Other long-term liabilities	41,471	42,894
TOTAL LIABILITIES	570,336	549,294
Commitments and contingencies
MEZZANINE EQUITY	0	784
STOCKHOLDERS’ EQUITY:
Preferred stock ($0.0001 par value), authorized 45,000 shares, none issued and outstanding	0	0
Additional paid-in capital	687,338	724,226
Accumulated deficit	(100,394)	(102,087)
Accumulated other comprehensive loss	(28,780)	(8,950)
TOTAL STOCKHOLDERS’ EQUITY	558,172	613,197
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY	1,128,508	1,163,275
Class A Common Stock [Member]
STOCKHOLDERS’ EQUITY:
Common stock	5	5
Class B Common Stock [Member]
STOCKHOLDERS’ EQUITY:
Common stock	$ 3	$ 3

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	45,000,000	45,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	513,797,000	513,797,000
Common stock, shares issued	52,191,000	51,524,000
Common stock, shares outstanding	52,191,000	51,524,000
Class B Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	41,203,000	41,203,000
Common stock, shares issued	27,745,000	27,745,000
Common stock, shares outstanding	27,745,000	27,745,000

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Total revenue	$ 132,656	$ 119,912	$ 292,437	$ 270,075
Total cost of revenue	29,523	31,946	61,126	65,368
Gross profit	103,133	87,966	231,311	204,707
Operating expenses:
Research and development	46,477	38,757	89,571	77,033
Sales and marketing	39,116	31,909	74,798	63,979
General and administrative	24,367	21,861	47,936	45,787
Amortization of intangible assets	6,208	4,615	12,111	9,492
Other operating income, net	(5,767)	(585)	(6,548)	(1,202)
Total operating expenses	110,401	96,557	217,868	195,089
Operating (loss) income	(7,268)	(8,591)	13,443	9,618
Interest expense	700	2,988	1,285	5,961
Other expense, net	21,907	708	23,975	1,543
(Loss) income before income taxes	(29,875)	(12,287)	(11,817)	2,114
Income tax expense	3,899	1,361	10,429	1,402
Net (loss) income	$ (33,774)	$ (13,648)	$ (22,246)	$ 712
(Loss) income per share:
Net (loss) income per share attributable to common stockholders, basic	$ (0.43)	$ (0.18)	$ (0.28)	$ 0.01
Net (loss) income per share attributable to common stockholders, diluted	$ (0.43)	$ (0.18)	$ (0.28)	$ 0.01
Weighted average shares outstanding:
Weighted average number of shares used in computing net (loss) income per share, basic	78,948	75,263	79,204	74,959
Weighted average number of shares used in computing net (loss) income per share, diluted	78,948	75,263	79,204	79,851
Total Software and Related Services [Member]
Total revenue	$ 124,269	$ 107,039	$ 274,227	$ 244,678
Total cost of revenue	22,468	21,391	45,909	44,463
License [Member]
Total revenue	82,688	66,632	188,857	163,027
Total cost of revenue	4,120	3,617	8,807	9,012
Maintenance and Other Services [Member]
Total revenue	34,205	32,926	68,933	66,072
Total cost of revenue	12,884	12,043	25,603	23,598
Total Software [Member]
Total revenue	116,893	99,558	257,790	229,099
Total cost of revenue	17,004	15,660	34,410	32,610
Software Related Services [Member]
Total revenue	7,376	7,481	16,437	15,579
Total cost of revenue	5,464	5,731	11,499	11,853
Client Engineering Services [Member]
Total revenue	7,047	10,268	15,059	20,945
Total cost of revenue	5,914	8,293	12,555	17,181
Other [Member]
Total revenue	1,340	2,605	3,151	4,452
Total cost of revenue	$ 1,141	$ 2,262	$ 2,662	$ 3,724

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (33,774)	$ (13,648)	$ (22,246)	$ 712
Other comprehensive (loss) income, net of tax:
Foreign currency translation (net of tax effect of $0 for all periods)	(15,949)	2,640	(20,112)	(1,335)
Retirement related benefit plans (net of tax effect of $7, $0, $7 and $0, respectively)	177	84	282	227
Total other comprehensive (loss) income	(15,772)	2,724	(19,830)	(1,108)
Comprehensive loss	$ (49,546)	$ (10,924)	$ (42,076)	$ (396)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax effect	$ 0	$ 0	$ 0	$ 0
Retirement related benefit plans, tax effect	$ 7	$ 0	$ 7	$ 0

Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member] Class A Common Stock [Member]	Common Stock [Member] Class B Common Stock [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Loss [Member]
Beginning balance at Dec. 31, 2020	$ 378,586		$ 4	$ 3	$ 474,669		$ (93,293)		$ (2,797)
Beginning balance (in shares) at Dec. 31, 2020			44,216	30,111
Net income	14,360						14,360
Exercise of stock options	271				271
Exercise of stock options (in shares)			490
Vesting of restricted stock (in shares)			278
Conversion from Class B to Class A common stock			510	(510)
Stock-based compensation	9,644				9,644
Foreign currency translation, net of tax	(3,975)								(3,975)
Retirement related benefit plans, net of tax	143								143
Ending balance at Mar. 31, 2021	399,029		$ 4	$ 3	484,584		(78,933)		(6,629)
Ending balance (in shares) at Mar. 31, 2021			45,494	29,601
Beginning balance at Dec. 31, 2020	378,586		$ 4	$ 3	474,669		(93,293)		(2,797)
Beginning balance (in shares) at Dec. 31, 2020			44,216	30,111
Net income	712
Repurchase and retirement of common stock	0
Foreign currency translation, net of tax	(1,335)
Retirement related benefit plans, net of tax	227
Ending balance at Jun. 30, 2021	399,345		$ 4	$ 3	495,824		(92,581)		(3,905)
Ending balance (in shares) at Jun. 30, 2021			46,392	29,091
Beginning balance at Mar. 31, 2021	399,029		$ 4	$ 3	484,584		(78,933)		(6,629)
Beginning balance (in shares) at Mar. 31, 2021			45,494	29,601
Net income	(13,648)						(13,648)
Exercise of stock options	614				614
Exercise of stock options (in shares)			334
Vesting of restricted stock (in shares)			54
Conversion from Class B to Class A common stock			510	(510)
Stock-based compensation	10,626				10,626
Foreign currency translation, net of tax	2,640								2,640
Retirement related benefit plans, net of tax	84								84
Ending balance at Jun. 30, 2021	399,345		$ 4	$ 3	495,824		(92,581)		(3,905)
Ending balance (in shares) at Jun. 30, 2021			46,392	29,091
Beginning balance at Dec. 31, 2021	613,197	$ (26,070)	$ 5	$ 3	724,226	$ (50,009)	(102,087)	$ 23,939	(8,950)
Beginning balance (in shares) at Dec. 31, 2021			51,524	27,745
Net income	11,528						11,528
Issuance of common stock for employee stock purchase program	4,187				4,187
Issuance of common stock for employee stock purchase program (in shares)			77
Exercise of stock options	238				238
Exercise of stock options (in shares)			86
Vesting of restricted stock (in shares)			324
Stock-based compensation	19,403				19,403
Foreign currency translation, net of tax	(4,163)								(4,163)
Retirement related benefit plans, net of tax	105								105
Ending balance at Mar. 31, 2022	618,425		$ 5	$ 3	698,045		(66,620)		(13,008)
Ending balance (in shares) at Mar. 31, 2022			52,011	27,745
Beginning balance at Dec. 31, 2021	613,197	$ (26,070)	$ 5	$ 3	724,226	$ (50,009)	(102,087)	$ 23,939	(8,950)
Beginning balance (in shares) at Dec. 31, 2021			51,524	27,745
Net income	(22,246)
Repurchase and retirement of common stock	(4,387)
Foreign currency translation, net of tax	(20,112)
Retirement related benefit plans, net of tax	282
Ending balance at Jun. 30, 2022	558,172		$ 5	$ 3	687,338		(100,394)		(28,780)
Ending balance (in shares) at Jun. 30, 2022			52,191	27,745
Beginning balance at Mar. 31, 2022	618,425		$ 5	$ 3	698,045		(66,620)		(13,008)
Beginning balance (in shares) at Mar. 31, 2022			52,011	27,745
Net income	(33,774)						(33,774)
Settlement of convertible senior notes	(29,756)				(29,756)
Repurchase and retirement of common stock	(4,387)				(4,387)
Payments for repurchase of common stock, Shares			(85)
Reclassification of mezzanine equity to permanent equity	784				784
Exercise of stock options	1,452				1,452
Exercise of stock options (in shares)			222
Vesting of restricted stock (in shares)			43
Stock-based compensation	21,200				21,200
Foreign currency translation, net of tax	(15,949)								(15,949)
Retirement related benefit plans, net of tax	177								177
Ending balance at Jun. 30, 2022	$ 558,172		$ 5	$ 3	$ 687,338		$ (100,394)		$ (28,780)
Ending balance (in shares) at Jun. 30, 2022			52,191	27,745

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2022	Jun. 30, 2021
OPERATING ACTIVITIES:
Net (loss) income	$ (22,246,000)	$ 712,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	15,819,000	13,180,000
Provision for credit loss	114,000	205,000
Amortization of debt discount and issuance costs	829,000	5,631,000
Stock-based compensation expense	39,814,000	20,296,000
Deferred income taxes	(64,000)	(1,000)
Gain on mark-to-market adjustment of contingent consideration	(5,304,000)	0
Expense on repurchase of convertible senior notes	16,621,000	0
Other, net	115,000	34,000
Changes in assets and liabilities:
Accounts receivable	29,270,000	24,852,000
Prepaid expenses and other current assets	2,056,000	(3,367,000)
Other long-term assets	4,397,000	(5,067,000)
Accounts payable	(2,070,000)	(967,000)
Accrued compensation and benefits	(9,742,000)	1,548,000
Other accrued expenses and current liabilities	(61,648,000)	2,999,000
Deferred revenue	10,080,000	(5,333,000)
Net cash provided by operating activities	18,041,000	54,722,000
INVESTING ACTIVITIES:
Payments for acquisition of businesses, net of cash acquired	(37,660,000)	0
Capital expenditures	(3,457,000)	(5,391,000)
Other investing activities, net	(322,000)	(389,000)
Net cash used in investing activities	(41,439,000)	(5,780,000)
FINANCING ACTIVITIES:
Proceeds from issuance of convertible senior notes, net of underwriters' discounts and commissions	224,265,000	0
Repurchase of convertible senior notes	(192,792,000)	0
Proceeds from employee stock purchase plan contributions	4,431,000	0
Repurchase and retirement of common stock	(4,387,000)	0
Proceeds from the exercise of common stock options	1,689,000	885,000
Payments of debt issuance costs	(1,157,000)	0
Payments on revolving commitment	0	(30,000,000)
Other financing activities	(131,000)	(206,000)
Net cash provided by (used in) financing activities	31,918,000	(29,321,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(6,226,000)	(847,000)
Net increase in cash, cash equivalents and restricted cash	2,294,000	18,774,000
Cash, cash equivalents and restricted cash at beginning of year	414,012,000	241,547,000
Cash, cash equivalents and restricted cash at end of period	416,306,000	260,321,000
Supplemental disclosure of cash flow:
Interest paid	289,000	339,000
Income taxes paid	4,891,000	3,744,000
Supplemental disclosure of non-cash investing and financing activities:
Property and equipment in accounts payable, other current liabilities and other liabilities	$ 1,530,000	$ 631,000

Organization and Description of Business	6 Months Ended
Organization and Description of Business	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and description of business Altair Engineering Inc. (“Altair” or the “Company”) is incorporated in the state of Delaware. The Company is a global leader in computational science and artificial intelligence (”AI”) that provides software and cloud solutions in simulation, high-performance computing (“HPC”), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world - all while creating a greener, more sustainable future. The Company is headquartered in Troy, Michigan. Basis of presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial information. Accordingly, the accompanying statements do not include all the information and notes required by GAAP for complete financial statements. The accompanying unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements (and notes thereto) for the year ended December 31, 2021, included in the most recent Annual Report on Form 10-K filed with the SEC. Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting periods. On an ongoing basis, management evaluates its significant estimates including the stand alone selling price, or SSP, for each distinct performance obligation included in customer contracts with multiple performance obligations, valuation of acquired intangible assets in business combinations, the incremental borrowing rate used in the valuation of lease liabilities, the determination of the period of benefit for capitalized costs to obtain a contract, fair value of convertible senior notes, provision for credit loss, tax valuation allowances, liabilities for uncertain tax provisions, impairment of goodwill and intangible assets, retirement obligations, useful lives of intangible assets, revenue for fixed price contracts, and stock-based compensation. Actual results could differ from those estimates. Significant accounting policies There have been no material changes to our significant accounting policies as of and for the six months ended June 30, 2022, as compared to the significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2021.

Recent Accounting Guidance

6 Months Ended

Jun. 30, 2022

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Guidance

Recent accounting guidance

Accounting standards adopted

Debt – In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU simplifies the accounting for convertible instruments by eliminating certain separation models. Under ASU 2020-06, a convertible debt instrument will generally be reported as a single liability at its amortized cost with no separate accounting for embedded conversion features. The update also requires the if-converted method to be used for convertible instruments and the effect of potential share settlement be included in the diluted earnings per share calculation when an instrument may be settled in cash or shares. The Company adopted ASU 2020-06 effective as of January 1, 2022, using the modified retrospective approach. Adoption of the new standard resulted in a decrease to accumulated deficit of $23.9 million, a decrease to additional paid-in capital of $50.0 million, and an increase to convertible senior notes, net of $26.1 million. Interest expense recognized in the current and future periods will be reduced as a result of accounting for the convertible debt instrument as a single liability measured at its amortized cost.

Accounting standards not yet adopted

Reference Rate Reform – In March 2020, the FASB issued ASU 2020-04. Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides optional expedients and exceptions for applying U.S. GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another rate that is expected to be discontinued. The amendments in the guidance are optional and effective for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements and related disclosures and does not expect this guidance to have a material effect on its consolidated financial statements.

Government Assistance – In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This ASU requires certain disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. The amendment requires disclosure of information about the nature of the transactions and the related accounting policy used to account for the transactions, information regarding the line items within the consolidated financial statements that are affected by the transactions, and significant terms and conditions of the transactions. ASU 2021-10 is effective for annual periods beginning after December 15, 2021, with early application permitted. The Company is currently evaluating the effect the adoption of this new guidance will have on its consolidated financial statement disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Revenue from Contracts with Customers

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Revenue from contracts with customers

Disaggregation of revenue

The Company disaggregates its software revenue by type of performance obligation and timing of revenue recognition as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Term licenses and other (1)	$	72,485	$	57,624	$	166,530	$	142,558
Perpetual licenses		10,203		9,008		22,327		20,469
Maintenance		33,035		30,549		66,372		60,243
Professional software services (1)		1,170		2,377		2,561		5,829
Software related services		7,376		7,481		16,437		15,579
Client engineering services		7,047		10,268		15,059		20,945
Other		1,340		2,605		3,151		4,452
Total revenue	$	132,656	$	119,912	$	292,437	$	270,075

(1)

Term licenses and other includes hardware revenue of $1.7 million and $2.4 million, respectively, for the three and six months ended June 30, 2022, and was reported in License revenue. Professional software services includes hardware revenue of $1.3 million and $3.0 million, respectively, for the three and six months ended June 30, 2021, and was reported in Maintenance and other services revenue.

The Company derived approximately 12.7% and 10.7% of its total revenue through indirect sales channels for the six months ended June 30, 2022 and 2021, respectively.

Costs to obtain a contract

As of June 30, 2022, and December 31, 2021, respectively, capitalized costs to obtain a contract were $4.3 million and $4.5 million recorded in Prepaid and other current assets and $0.2 million and $0.4 million recorded in Other long-term assets in the Company’s consolidated balance sheets. Sales commissions were $2.1 million and $4.2 million, respectively, for the three and six months ended June 30, 2022, and $1.9 million and $3.5 million, respectively, for the three and six months ended June 30, 2021. Sales commissions were included in Sales and marketing expense in the Company’s consolidated statement of operations.

Contract assets

As of June 30, 2022, and December 31, 2021, respectively, contract assets were $4.5 million and $3.8 million included in Accounts receivable, and $2.7 million and $2.3 million included in Prepaid expenses and other current assets in the Company’s consolidated balance sheets.

Deferred revenue

Approximately $65.0 million of revenue recognized during the six months ended June 30, 2022, was included in deferred revenue at the beginning of the year.

Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. Contracted revenue not yet recognized was $147.6 million and $128.5 million as of June 30, 2022 and 2021, respectively. Of the amount recorded as of June 30, 2022, the Company expects to recognize approximately 73% over the next 12 months and the remainder thereafter.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Section 50
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Supplementary Information

6 Months Ended

Jun. 30, 2022

Supplementary Information [Abstract]

Supplementary Information

Cash, cash equivalents and restricted cash

The Company considers all highly liquid investments with original or remaining maturities of 90 days or less at the date of purchase to be cash equivalents. Cash and cash equivalents are recorded at cost, which approximates fair value. Restricted cash is included in other long-term assets on the consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets that sum to the total of the amounts reported in the consolidated statement of cash flows (in thousands):


	June 30, 2022		December 31, 2021
Cash and cash equivalents	$	416,137	$	413,743
Restricted cash included in other long-term assets		169		269
Total cash, cash equivalents, and restricted cash	$	416,306	$	414,012

Restricted cash represents amounts required for a contractual agreement with an insurer for the payment of potential health insurance claims, and term deposits for bank guarantees.

Property and equipment, net

Property and equipment consisted of the following (in thousands):


	June 30,		December 31,
	2022		2021
Land	$	9,728	$	9,888
Building and improvements		18,002		18,358
Computer equipment and software		46,092		45,027
Furniture, equipment and other		12,445		12,947
Leasehold improvements		8,746		9,829
Right-of-use assets under finance leases		2,033		2,532
Total property and equipment		97,046		98,581
Less: accumulated depreciation and amortization		57,676		58,103
Property and equipment, net	$	39,370	$	40,478

Depreciation expense, including amortization of right-of-use assets under finance leases, was $1.9 million and $3.7 million for the three and six months ended June 30, 2022, respectively, and $1.9 million and $3.7 million for the three and six months ended June 30, 2021, respectively.

Other liabilities

The following table provides the details of other accrued expenses and current liabilities (in thousands):


	June 30,		December 31,
	2022		2021
Obligations for acquisition of businesses	$	17,103	$	87,636
Income taxes payable		8,524		5,887
Accrued VAT		4,197		6,047
Accrued professional fees		4,621		3,516
Employee stock purchase plan obligations		4,431		4,222
Accrued royalties		2,316		2,537
Defined contribution plan liabilities		1,368		1,513
Non-income tax liabilities		1,133		1,653
Billings in excess of cost		990		1,459
Other current liabilities		4,761		7,756
Total	$	49,444	$	122,226

The following table provides details of other long-term liabilities (in thousands):


	June 30,		December 31,
	2022		2021
Pension and other post retirement liabilities	$	14,833	$	15,086
Deferred tax liabilities		14,485		15,389
Other long-term liabilities		12,153		12,419
Total	$	41,471	$	42,894

Stock repurchase program

In February 2022, the Company’s Board of Directors approved a stock repurchase program to repurchase up to $50.0 million of the Company’s Class A Common Stock. Purchases under the stock repurchase program may be made from time to time in the open market at prevailing prices, or through privately negotiated transactions. The Company is not obligated to repurchase any dollar amount or number of shares, and the stock repurchase program may be suspended or terminated at any time. All shares repurchased under the stock repurchase program are retired.

During the period ended June 30, 2022, under our stock repurchase program, we repurchased 85,119 shares at an average price of $51.52 per share for a total cost of $4.4 million. As of June 30, 2022, $45.6 million of shares of Class A Common Stock remained available for repurchase under the program.

Mezzanine equity

In 2017, the Company issued 200,000 shares of Class A Common Stock to a third-party as partial consideration for the purchase of developed technology. These shares had a put right that could be exercised by the holder five years from date of purchase at $12.50 per share that required the shares to be recorded at issuance date fair value and classified as mezzanine equity in the consolidated balance sheet.

During the year ended December 31, 2020, the third-party holder sold 133,336 shares on the open market and as a result, the issuance date fair value of those shares was reclassified into permanent equity from mezzanine equity. As of June 30, 2022, the put right has lapsed and the issuance date fair value of the remaining 66,664 shares were reclassified into permanent equity from mezzanine equity.

Restructuring expense

In 2021, the Company initiated a restructuring plan to realign resources with the Company’s business outlook and cost structure. The restructuring plan resulted in charges for employee termination benefits of $1.7 million and $5.1 million for the three and six months ended June 30, 2021, respectively. There were no restructuring costs for the three and six months ended June 30, 2022. The restructuring costs were attributable primarily to the Software reportable segment. The restructuring plan was completed, and all amounts were paid in 2021.

Other expense, net

Other expense, net consists of the following (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Expense on repurchase of convertible senior notes	$	16,621		$	—		$	16,621		$	—
Foreign exchange loss		5,741			787			7,654			1,716
Other income, net		(455	)		(79	)		(300	)		(173	)
Other expense, net	$	21,907		$	708		$	23,975		$	1,543

Acquisitions

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions

2022 Acquisitions

Concept Engineering

In June 2022, the Company entered into a stock purchase agreement and simultaneously acquired 100% of the outstanding capital stock of Concept Engineering, a leading provider of electronic system visualization software that accelerates the development, manufacture, and service of complex electrical and electronic systems, for preliminary aggregate consideration of $25.7 million. See Note 9 for further information on this acquisition. Concept Engineering’s software will be integrated into Altair’s Electronic System Design suite and will be available via Altair Units.

The acquisition of Concept Engineering will be accounted for as a business combination under the acquisition method of accounting. As of June 30, 2022, the book value of assets acquired and liabilities assumed were reported in the Company’s consolidated balance sheet. The remaining purchase price of $22.7 million has been recorded in goodwill pending fair value allocation. All goodwill is recorded in the Software segment.

The primary areas that remain preliminary relate to the fair value of intangible assets acquired, certain tangible assets and liabilities acquired, income taxes and residual goodwill. The Company expects to finalize the valuation as soon as practicable, but not later than one year from the acquisition date.

Other business acquisitions

During the six months ended June 30, 2022, the Company completed three other business acquisitions that will be accounted for as business combinations under the acquisition method for preliminary transaction consideration of $18.0 million. As of June 30, 2022, $7.8 million of preliminary consideration for two of these acquisitions was reported in goodwill in the consolidated balance sheet pending fair value allocation. All goodwill is recorded in the Software segment. The Company expects to finalize the valuations as soon as practicable, but not later than one year from the acquisition dates. These acquisitions were not material to the Company’s consolidated financial statements.

The operating results of each acquisition have been included in the consolidated financial statements since the respective dates of acquisition. The Company’s transaction costs related to its 2022 acquisitions were not material.

2021 Acquisitions

World Programming

In December 2021, the Company acquired all of the outstanding capital stock of two related privately held companies, World Programming Limited and December 2015 Software Limited (together “World Programming”), from the stockholders named therein, for preliminary aggregate consideration of $73.0 million. The preliminary consideration consisted of cash in the amount of $50.0 million, subject to a customary working capital adjustment, and contingent consideration of $23.0 million, including $19.5 million of the Company’s Class A Common Stock (the “Contingent Stock Consideration”) and a measurement period adjustment of $3.5 million recognized in 2022. The dates on which the Contingent Stock Consideration is issuable and the number of shares issuable on such dates depend primarily on certain aspects of legal proceedings in which World Programming and SAS Institute, Inc. are engaged. For further information on the legal proceedings see Note 13.

The Company is required to mark-to-market the Contingent Stock Consideration liability based on the trading price of the Company’s Class A Common Stock. For the three and six months ended June 30, 2022, the Company recognized a gain of $5.3 million on the mark-to-market adjustment of contingent consideration which is included in Other operating income, net in the consolidated statements of operations.

In addition, per the stock purchase agreement, $29.5 million of Class A Common Stock will be issued subject to the continuing employment of certain key employees and are not reflected in aggregate consideration but will be recognized as stock-based compensation over the service period of three years.

As of June 30, 2022, Other accrued expenses and current liabilities included $0.4 million of contingent consideration due to employees.

The acquisition has been accounted for as a business combination under the acquisition method of accounting, which results in acquired assets and assumed liabilities being measured at their estimated fair value as of the acquisition date. The following table summarizes the preliminary purchase consideration transferred to acquire World Programming and the amounts of identified assets acquired and liabilities assumed at the acquisition date (in thousands):


Fair value of consideration transferred	$	73,043
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash		1,895
Accounts receivable		5,656
Other assets		6,085
Property and equipment		2,209
Trade names (4-year life)		300
Developed technology (5-year life)		33,000
Customer relationships (7-year life)		7,000
SAS legal liability		(66,596	)
Accounts payable and other liabilities		(3,401	)
Deferred revenue		(2,737	)
Deferred tax liabilities and other tax reserves		(11,406	)
Total net identifiable assets acquired and liabilities assumed		(27,995	)
Goodwill (1)	$	101,038

(1)

Goodwill is primarily attributable to market synergies expected to arise after the acquisition and is not deductible for tax purposes. All goodwill is recorded in the Software segment.

The preliminary estimated fair values of assets acquired and liabilities assumed, and identifiable intangible assets may be subject to change as additional information is received. The valuation was complex due to the significant estimation uncertainty in certain assumptions used to determine the fair value of intangible assets acquired and contingent consideration. The Company continues to collect information with regard to its estimates and assumptions, including the fair value of intangible assets acquired, certain tangible assets and liabilities acquired, contingent consideration, income taxes and residual goodwill. The Company expects to finalize the valuation as soon as practicable, but not later than one year from the acquisition date.

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and other intangible assets

Goodwill

The changes in the carrying amount of goodwill, which is attributable to the Software reportable segment, were as follows (in thousands):


Balance as of January 1, 2022	$	370,178
Acquisitions		32,568
Effects of foreign currency translation and other		(16,757	)
Balance as of June 30, 2022	$	385,989

Other intangible assets

A summary of other intangible assets is shown below (in thousands):


	June 30, 2022
	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets:
Developed technology	4-6 years	$	113,072	$	57,398	$	55,674
Customer relationships	7-10 years		48,359		24,768		23,591
Other intangibles	4-10 years		656		195		461
Total definite-lived intangible assets			162,087		82,361		79,726
Indefinite-lived intangible assets:
Trade names			10,601				10,601
Total other intangible assets		$	172,688	$	82,361	$	90,327


	December 31, 2021
	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets:
Developed technology	4-6 years	$	110,891	$	49,672	$	61,219
Customer relationships	7-10 years		48,277		21,859		26,418
Other intangibles	4-10 years		647		127		520
Total definite-lived intangible assets			159,815		71,658		88,157
Indefinite-lived intangible assets:
Trade names			10,900				10,900
Total other intangible assets		$	170,715	$	71,658	$	99,057

Amortization expense related to intangible assets was $6.2 million and $12.1 million for the three and six months ended June 30, 2022, respectively, and $4.6 million and $9.5 million for the three and six months ended June 30, 2021, respectively.

Debt

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Debt

Convertible senior notes

2027 Notes

In June 2022, the Company issued $230.0 million aggregate principal amount of 1.750% convertible senior notes due in 2027 (the "2027 Notes"), which includes the initial purchaser’s exercise in full of its option to purchase an additional $30.0 million principal amount of the 2027 Notes, in a private offering. The net proceeds from the issuance of the 2027 Notes was $224.3 million after deducting discounts, commissions and estimated issuance costs.

The Company entered into an Indenture relating to the issuance of the 2027 Notes dated June 14, 2022 (the “Indenture”), by and between the Company and U.S. Bank Trust Company, National Association, as trustee. The Indenture includes customary covenants and sets forth certain events of default after which the 2027 Notes may be declared immediately due and payable and sets forth certain types of bankruptcy or insolvency events of default involving the Company after which the 2027 Notes become automatically due and payable. The 2027 Notes are senior unsecured obligations of the Company.

The 2027 Notes mature on June 15, 2027, unless earlier repurchased, redeemed or converted. The Company may redeem for cash all or, subject to certain limitations, any portion of the 2027 Notes, at its option, on or after June 20, 2025 if the last reported sale price of Altair's Class A Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The 2027 Notes bear interest at a rate of 1.750% per year, payable semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2022.

The 2027 Notes have an initial conversion rate of 13.9505 shares of the Company's Class A common stock per $1,000 principal amount of 2027 Notes, which is equivalent to an initial conversion price of approximately $71.68 per share of Class A common stock. The conversion rate will be subject to adjustment upon the occurrence of certain events specified in the Indenture but will not be adjusted for any accrued and unpaid interest. In addition, upon the occurrence of a make whole fundamental change or a redemption period (each as defined in the Indenture), the Company will, in certain circumstances, increase the conversion rate by a specified number of additional shares for a holder who elects to convert its 2027 Notes in connection with such make whole fundamental change or during the relevant redemption period.

Holders of the 2027 Notes may convert all or any portion of their 2027 Notes at any time prior to the close of business on the business day immediately preceding December 15, 2026, in integral multiples of $1,000 principal amount, only under the following circumstances:

•

during any calendar quarter commencing after the calendar quarter ending on September 30, 2022, if the last reported sale price of the Class A Common Stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;

•

during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price (as defined in the Indenture) per $1,000 principal amount of the 2027 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Class A Common Stock and the conversion rate on each such trading day;

•

if the Company calls the 2027 Notes for redemption (which the Company may not do prior to June 20, 2025), at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date but only with respect to the 2027 Notes called (or deemed called) for redemption; or

•

upon the occurrence of specified corporate events.

On or after December 15, 2026 until the close of business on the business day immediately preceding the maturity date, holders may convert their 2027 Notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of Class A Common Stock or a combination of cash and shares of the Class A Common Stock, at the Company’s election, in the manner and subject to the terms and conditions provided in the Indenture.

During the period ended June 30, 2022, the conditions allowing holders of the 2027 Notes to convert were not met. Therefore, the 2027 Notes were classified as long-term debt on the consolidated balance sheet as of June 30, 2022.

2024 Notes

In June 2019, the Company issued $230.0 million aggregate principal amount of 0.25% convertible senior notes due in 2024 (the "2024 Notes" and together with the 2027 Notes, the “Convertible Notes”), which includes the underwriters’ exercise in full of their option to purchase an additional $30.0 million principal amount of the 2024 Notes, in a public offering. The net proceeds from the issuance of the 2024 Notes were $221.9 million after deducting the underwriting discounts and commissions and estimated issuance costs. The 2024 Notes bear interest at a rate of 0.25% per year, payable semi-annually in arrears on June 1 and December 1 of each year, commencing December 1, 2019. The 2024 Notes mature on June 1, 2024, unless, earlier repurchased or redeemed by the Company or converted pursuant to their terms. The 2024 Notes have an initial conversion rate of 21.5049 shares of the Company's Class A common stock per $1,000 principal amount of 2024 Notes, which is equivalent to an initial conversion price of approximately $46.50 per share of its Class A common stock. Refer to the Company’s consolidated financial statements for the year ended December 31, 2021, for details of the issuance of the 2024 Notes.

Prior to January 1, 2022, the Company separated the 2024 Notes into liability and equity components. On issuance, the carrying amount of the equity component was recorded as a debt discount and subsequently amortized to interest expense. Effective January 1, 2022, the Company adopted ASU 2020-06 using the modified retrospective approach. As a result, the 2024 Notes are accounted for as a single liability measured at amortized cost, as no other embedded features require bifurcation and recognition as derivatives. Adoption of the new standard resulted in a decrease to Accumulated deficit of $23.9 million, a decrease to Additional paid-in capital of $50.0 million, and an increase to Convertible senior notes, net of $26.1 million.

During the three months ended June 30, 2022, using proceeds from the issuance of the 2027 Notes, the Company entered into separate privately negotiated transactions with certain holders of the 2024 notes to repurchase and retire $148.2 million aggregate principal amount of the 2024 notes for an aggregate amount of $192.4 million of cash including accrued and unpaid interest. The Company recognized expense of $16.6 million, representing the fair value of the consideration paid to certain holders of the 2024 Notes in excess of the value to which they were entitled to receive on the respective settlement dates. The amount is included in Other expense, net in the Company’s consolidated statement of operations.

As of June 30, 2022, $81.8 million principal amount of the 2024 Notes remained outstanding. The Company may settle the 2024 Notes in cash, shares of Class A Common Stock or a combination of cash and shares of the Class A Common Stock, at the Company’s election.

During the period ended June 30, 2022, the conditions allowing holders of the 2024 Notes to convert were not met. Therefore, the 2024 Notes were classified as long-term debt on the consolidated balance sheet as of June 30, 2022. As of December 31, 2021, the conditions allowing the holders of the 2024 Notes to convert were met. Therefore, the 2024 Notes were classified as current on the consolidated balance sheet as of December 31, 2021.

The Convertible Notes consisted of the following (in thousands):


	June 30, 2022				December 31, 2021
	2027 Notes		2024 Notes		2027 Notes		2024 Notes
Principal	$	230,000	$	81,754	$	—	$	230,000
Less: unamortized debt discount (1)		—		—		—		27,022
Less: unamortized debt issuance costs		5,835		1,243		—		3,273
Net carrying amount	$	224,165	$	80,511	$	—	$	199,705

(1)

The Company adopted ASU 2020-06 on January 1, 2022, which resulted in the convertible notes to be accounted for as a single liability.

The interest expense recognized related to the Convertible Notes was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Contractual interest expense	$	194	$	144	$	338	$	288
Amortization of debt issuance costs and discount (1)		406		2,831		818		5,625
Total	$	600	$	2,975	$	1,156	$	5,913

(1)

The 2021 amount includes the amortization of the debt discount prior to the adoption of ASU 2020-06 of January 1, 2022.

As of June 30, 2022, the if converted value of the 2027 Notes did not exceed the principal amount. As of June 30, 2022, the if converted value of the 2024 Notes exceeded the principal amount by $10.5 million.

Credit agreement

Revolving credit facility

The Company has a $150.0 million credit facility with a maturity date of December 15, 2025 (“2019 Amended Credit Agreement”). The 2019 Amended Credit Agreement provides for an accordion feature that allows the Company to expand the size of the revolving line of credit by an additional $50.0 million, subject to certain conditions, by obtaining additional commitments from the existing lenders or by causing a person acceptable to the administrative agent to become a lender (in each case subject to the terms and conditions set forth in the 2019 Amended Credit Agreement). In June 2022, the Company amended the 2019 Amended Credit Agreement to, among other things, permit the issuance of the 2027 Notes and extend the maturity date of the credit facility to December 2025.

As of June 30, 2022, there were no outstanding borrowings under the 2019 Amended Credit Agreement, there was $150.0 million available for future borrowing, and the Company was in compliance with all the financial covenants. The 2019 Amended Credit Agreement is available for general corporate purposes, including working capital, capital expenditures, and permitted acquisitions.

For additional information about the 2019 Amended Credit Agreement, refer to the Company’s consolidated financial statements for the year ended December 31, 2021, included in our Annual Report on Form 10-K for the year ended December 31, 2021.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Section 50
-Paragraph 1C
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

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-Publisher FASB
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-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-Publisher FASB
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-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Section 50
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-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Fair Value Measurements

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value measurements

The accounting guidance for fair value, among other things, defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The framework for measuring fair value consists of a three-level valuation hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based upon whether such inputs are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions made by the reporting entity. The three-level hierarchy for the inputs to valuation techniques is briefly summarized as follows:

Level 1 – Quoted prices in active markets for identical assets and liabilities at the measurement date;

Level 2 – Observable inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3 – Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

An asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

The carrying value of cash and cash equivalents, accounts receivable, net and accounts payable approximate fair value due to their short maturities. Interest on the Company’s line of credit is at a variable rate, and as such the debt obligation outstanding approximates fair value.

The carrying value of the Company’s Convertible Notes are at face value less unamortized debt discount and issuance costs. The estimated fair values of the Convertible Notes, which the Company has classified as Level 2 financial instruments, were determined based on quoted bid prices of the Convertible Notes on the last trading day of each reporting period. As of June 30, 2022, the estimated fair value of the 2027 Notes and 2024 Notes was $224.0 million and $101.3 million, respectively, and is presented for required disclosure purposes only. For further information on the Convertible Notes, see Note 7. – Debt.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stock-Based Compensation

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-based compensation

2017 stock-based compensation plan

In 2017, the Company’s board of directors adopted the 2017 Equity Incentive Plan (“2017 Plan”), which was approved by the Company’s stockholders. The 2017 Plan provides for the grant of incentive stock options to the Company’s employees and any parent and subsidiary corporations’ employees, and for the grant of nonstatutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, performance shares, other cash-based awards and other stock-based awards to the Company’s employees, directors and consultants and the Company’s parent, subsidiary, and affiliate corporations’ employees and consultants. The 2017 Plan has 16,999,318 authorized shares of the Company’s Class A common stock reserved for issuance.

The following table summarizes the restricted stock units, or RSUs, awarded under the 2017 Plan for the period:


	Number of RSUs
Outstanding as of January 1, 2022		1,281,411
Granted		435,614
Vested		(366,667	)
Forfeited		(19,008	)
Outstanding as of June 30, 2022		1,331,350

The weighted average grant date fair value of the RSUs was $57.21 and the RSUs generally vest in four equal annual installments. Total compensation cost related to nonvested awards not yet recognized as of June 30, 2022, totaled $70.4 million, and is expected to be recognized over a weighted average period of 2.6 years.

The following table summarizes the stock option activity under the 2017 Plan for the period:


	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate intrinsic value (in millions)
Outstanding as of January 1, 2022		4,875,562		$	51.02		8.8
Granted		885,262		$	56.26
Exercised		(32,038	)	$	41.44
Forfeited		(57,726	)	$	51.16
Outstanding as of June 30, 2022		5,671,060		$	51.96		8.6	$	27.7
Exercisable as of June 30, 2022		1,037,227		$	40.58		7.9	$	12.8

The total intrinsic value of the 2017 Plan stock options exercised during the six months ended June 30, 2022, was $0.4 million.

2021 Employee Stock Purchase Plan

The Company has an Employee Stock Purchase Plan (“ESPP”) which allows eligible employees to purchase shares of common stock through payroll deductions and is intended to qualify under Section 423 of the Internal Revenue Code. As of June 30, 2022, the Company had 3,123,191 shares of its common stock available for future issuances under the ESPP.

The purchase price for each share of common stock purchased under the ESPP will be 85% of the lower of (a) the fair market value per share on the first day of the applicable offering period or (b) the fair market value per share on the applicable purchase date.

The Company purchased 76,809 shares of common stock under the ESPP during the six months ended June 30, 2022. As of June 30, 2022, $4.4 million has been withheld on behalf of employees for a future purchase under the ESPP due to the timing of payroll deductions and is reported in Other accrued expenses and current liabilities. The Company recognized $0.6 million and $1.3 million of stock-based compensation expense related to the ESPP for the three and six months ended June 30, 2022, respectively.

Other

In connection with the acquisition of World Programming in December 2021, per the stock purchase agreement, $29.5 million of the Company’s Class A Common Stock will be issued to existing employees, subject to continuing employment and certain other contingencies. The shares will be issued on the one-, two- and three-year anniversaries of the certain legal matters being resolved, subject to potential reduction in certain circumstances. The accounting treatment for these shares in the context of the business combination is to recognize the expense as a post-combination expense, not as transaction consideration.

The estimated post combination expense to the Company as a result of the World Programming business combination was $29.5 million which is recognized on an accelerated method over the employment period. As of June 30, 2022, the weighted average remaining service period is 2.5 years. Once the vesting conditions of the service period are met, the Company will issue shares for each award. Stock-based compensation expense includes $4.5 million and $8.9 million for the three and six months ended June 30, 2022, respectively.

In connection with the acquisition of Powersim Inc. in March 2022, per the stock purchase agreement, $4.3 million of the Company’s Class A Common Stock will be issued to existing employees, subject to continuing employment and certain other contingencies. The shares will be issued on the one - and two-year anniversaries of certain matters being resolved, subject to potential reduction in certain circumstances. The accounting treatment for these shares in the context of the business combination is to recognize the expense as a post-combination expense, not as transaction consideration. Stock-based compensation expense includes $0.9 million and $1.1 million for the three and six months ended June 30, 2022, respectively.

In connection with the acquisition of Concept Engineering in June 2022, per the stock purchase agreement, $6.0 million of the Company’s Class A Common Stock will be issued to existing employees, subject to continuing employment and certain other contingencies. The shares will be issued on the one, and two-year anniversaries of certain matters being resolved, subject to potential reduction in certain circumstances. The accounting treatment for these shares in the context of the business combination is to recognize the expense as a post-combination expense, not as transaction consideration. Stock-based compensation expense includes $0.2 million for both the three and six months ended June 30, 2022.

Stock-based compensation expense

The stock-based compensation expense was recorded as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of revenue – software	$	2,030	$	1,222	$	3,933	$	2,380
Research and development		8,979		4,143		16,337		7,329
Sales and marketing		7,664		3,659		14,699		7,127
General and administrative		2,527		1,624		4,845		3,460
Total stock-based compensation expense	$	21,200	$	10,648	$	39,814	$	20,296

Net (Loss) Income Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net (Loss) Income Per Share

10.

Net (loss) income per share

The Company adopted ASU 2020-06 on January 1, 2022, using the modified retrospective method, applicable to its convertible senior notes outstanding as of adoption. The Company has not changed any previously disclosed amounts or provided additional disclosures for comparative periods. ASU 2020-06 requires the if-converted method to be applied for all convertible instruments when calculating diluted earnings per share. Under the if-converted method, shares related to convertible senior notes, to the extent dilutive, are assumed to be converted into common stock at the beginning of the period.

Basic net income per share attributable to common stockholders is computed using the weighted average number of shares of common stock outstanding for the period, excluding dilutive securities, stock options, RSUs, and ESPP shares. Diluted net income per share attributable to common stockholders is based upon the weighted average number of shares of common stock outstanding for the period and potentially dilutive common shares, including the effect of dilutive securities, stock options, RSUs and ESPP shares under the treasury stock method. The following table sets forth the computation of the numerators and denominators used in the basic and diluted net (loss) income per share amounts (in thousands, except per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Numerator:
Net (loss) income	$	(33,774	)	$	(13,648	)	$	(22,246	)	$	712
Interest expense related to Convertible Notes, net of tax		194			—			338			—
Numerator for diluted (loss) income per share	$	(33,580	)	$	(13,648	)	$	(21,908	)	$	712
Denominator:
Denominator for basic (loss) income per share— weighted average shares		78,948			75,263			79,204			74,959
Effect of dilutive securities, stock options, RSUs and ESPP shares		—			—			—			4,892
Denominator for dilutive (loss) income per share		78,948			75,263			79,204			79,851
Net (loss) income per share attributable to common stockholders, basic	$	(0.43	)	$	(0.18	)	$	(0.28	)	$	0.01
Net (loss) income per share attributable to common stockholders, diluted	$	(0.43	)	$	(0.18	)	$	(0.28	)	$	0.01

Anti-dilutive shares excluded from the computation of diluted net loss per share were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Stock options and ESPP shares		2,366		3,580		2,345		—
Convertible shares		4,967		1,460		4,967		—
Total shares excluded from calculation		7,333		5,040		7,312		—

Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

11.

Income taxes

The Company’s income tax expense and effective tax rate for the three and six months ended June 30, 2022 and 2021, were as follows (in thousands, except percentages):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Income tax expense	$	3,899		$	1,361		$	10,429		$	1,402
Effective tax rate		(13	%)		(11	%)		(88	%)		66	%

The tax rate is affected by the Company being a U.S. resident taxpayer, the tax rates in the U.S. and other jurisdictions in which the Company operates, the relative amount of income earned by jurisdiction and the relative amount of losses or income for which no benefit or expense is recognized due to a valuation allowance. The Company’s effective tax rate for the six months ended June 30, 2022 and 2021, also includes net discrete expense of $3.4 million and net discrete benefit of $2.4 million, respectively, primarily related to changes in tax laws, withholding taxes on royalties, changes in reserves, changes in accruals for unremitted earnings and other adjustments.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Accumulated Other Comprehensive Loss

12.

Accumulated other comprehensive loss

The components of accumulated other comprehensive loss were as follows (in thousands):


	Foreign currency translation			Retirement related benefit plans			Total
Balance as of December 31, 2021	$	(6,400	)	$	(2,550	)	$	(8,950	)
Other comprehensive loss before reclassification		(20,112	)		217			(19,895	)
Amounts reclassified from accumulated other comprehensive loss	—				58			58
Tax effects		—			7			7
Other comprehensive (loss) income		(20,112	)		282			(19,830	)
Balance as of June 30, 2022	$	(26,512	)	$	(2,268	)	$	(28,780	)

Commitments and Contingencies

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

13.

Commitments and contingencies

World Programming

The Company acquired World Programming Limited and a related company (collectively, “World Programming”) in December 2021. In 2010, SAS Institute, Inc. (“SAS”) filed an action against World Programing in the United States District Court for the Eastern District of North Carolina (the “NC Court”) alleging copyright infringement, breach of contract, fraudulent inducement to contract, and violations of the North Carolina Unfair and Deceptive Trade Practices Act (UDTPA). SAS was unsuccessful on its copyright claims but prevailed on its breach of contract, fraudulent inducement, and UDTPA claims and was awarded damages of $79.1 million in 2016 (the “NC Judgment”). The NC Court subsequently enjoined World Programming from licensing its WPS Analytics software to new customers for use in the United States until the NC Judgment was satisfied. At the time that the Company acquired World Programming, World Programming had partially paid the NC Judgment.

In relation to the NC Court order that enjoined World Programming from licensing its WPS Analytics Software to new customers for use in the United States, SAS filed a related matter in California, which resulted in the California court issuing an order that required certain then existing customers of World Programming to direct payment (of their licensing fees for WPS Analytics software) to SAS until the NC Judgment was satisfied.

On January 3, 2022, the Company paid the outstanding balance of $65.9 million on the NC Judgment. Despite payment in full, SAS has asserted that the Company has not satisfied the Judgment. The NC Court scheduled a hearing to address this issue for March 3, 2022 (the “March Hearing”). At the March Hearing, the NC Court confirmed that the Company’s January 3, 2022 payment fully satisfied the NC Judgment, and lifted the injunction that had enjoined World Programming from licensing its WPS Analytics software to new customers for use in the United States. On March 7, 2022, SAS agreed that the California court order was no longer necessary and together with World Programming, filed a joint notice of satisfaction of the NC Judgment with the

California court, thereby allowing customers of World Programming to resume payment of their licensing fees to World Programming directly.

In 2018, SAS filed litigation in the United States District Court for the Eastern District of Texas (the “Texas Court”) asserting that World Programming infringed SAS copyrights and patents. SAS voluntarily dismissed with prejudice its patent claims, and the Texas Court entered judgment in favor of World Programming on the copyright claims. SAS appealed the Texas Court judgment to the United States Court of Appeals for the Federal Circuit (the “Court of Appeals”). Oral arguments were held before the Court of Appeal on January 13, 2022. A decision from the Court of Appeals is pending.

Other legal proceedings

From time to time, the Company may be subject to legal proceedings and claims in the ordinary course of business. The Company has received, and may in the future continue to receive, claims from third parties asserting, among other things, infringement of their intellectual property rights. Future litigation may be necessary to defend the Company, its partners, and its customers by determining the scope, enforceability, and validity of third-party proprietary rights, or to establish and enforce the Company’s proprietary rights.

Effects of proceedings

The results of any current or future litigation cannot be predicted with certainty and regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources and other factors.

Segment Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Information

14.

Segment information

The Company defines its operating segments as components of its business where separate financial information is available and used by the chief operating decision maker (“CODM”) in deciding how to allocate resources to its segments and in assessing performance. The Company’s CODM is its Chief Executive Officer.

The Company has identified two reportable segments for financial reporting purposes: Software and Client Engineering Services. The primary measure of segment operating performance is Adjusted EBITDA, which is defined as net income (loss) adjusted for income tax expense (benefit), interest expense, interest income and other, depreciation and amortization, stock-based compensation expense, restructuring charges, asset impairment charges and other special items as determined by management. Adjusted EBITDA includes an allocation of corporate headquarters costs.

The following tables are in thousands:



Three months ended June 30, 2022	Software		CES		All other			Total
Revenue	$	124,269	$	7,047	$	1,340		$	132,656
Adjusted EBITDA	$	16,531	$	406	$	(497	)	$	16,440


Three months ended June 30, 2021	Software		CES		All other			Total
Revenue	$	107,039	$	10,268	$	2,605		$	119,912
Adjusted EBITDA	$	8,616	$	1,212	$	(332	)	$	9,496



Six months ended June 30, 2022	Software		CES		All other			Total
Revenue	$	274,227	$	15,059	$	3,151		$	292,437
Adjusted EBITDA	$	62,715	$	1,204	$	(889	)	$	63,030


Six months ended June 30, 2021	Software		CES		All other			Total
Revenue	$	244,678	$	20,945	$	4,452		$	270,075
Adjusted EBITDA	$	44,854	$	2,222	$	(620	)	$	46,456


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Reconciliation of Adjusted EBITDA to U.S. GAAP (loss) income before income taxes:
Adjusted EBITDA	$	16,440		$	9,496		$	63,030		$	46,456
Stock-based compensation expense		(21,200	)		(10,648	)		(39,814	)		(20,296	)
Interest expense		(700	)		(2,988	)		(1,285	)		(5,961	)
Depreciation and amortization		(8,133	)		(6,494	)		(15,819	)		(13,180	)
Restructuring expense		—			(1,732	)		—			(5,078	)
Special adjustments, interest income and other (1)		(16,282	)		79			(17,929	)		173
(Loss) income before income taxes	$	(29,875	)	$	(12,287	)	$	(11,817	)	$	2,114

(1)

The three months ended June 30, 2022, includes $16.6 million expense on repurchase of convertible senior notes, $5.4 million currency losses on acquisition-related intercompany loans, and a $5.3 million gain from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition. The six months ended June 30, 2022, includes $16.6 million expense on repurchase of convertible senior notes, $6.9 million currency losses on acquisition-related intercompany loans and a $5.3 million gain from the mark-to-market adjustment of contingent consideration associated with the World Programming acquisition.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Organization and Description of Business (Policies)	6 Months Ended
Organization and Description of Business (Policies)	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial information. Accordingly, the accompanying statements do not include all the information and notes required by GAAP for complete financial statements. The accompanying unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements (and notes thereto) for the year ended December 31, 2021, included in the most recent Annual Report on Form 10-K filed with the SEC.
Use of Estimates	Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting periods. On an ongoing basis, management evaluates its significant estimates including the stand alone selling price, or SSP, for each distinct performance obligation included in customer contracts with multiple performance obligations, valuation of acquired intangible assets in business combinations, the incremental borrowing rate used in the valuation of lease liabilities, the determination of the period of benefit for capitalized costs to obtain a contract, fair value of convertible senior notes, provision for credit loss, tax valuation allowances, liabilities for uncertain tax provisions, impairment of goodwill and intangible assets, retirement obligations, useful lives of intangible assets, revenue for fixed price contracts, and stock-based compensation. Actual results could differ from those estimates.
Significant Accounting Policies	Significant accounting policies There have been no material changes to our significant accounting policies as of and for the six months ended June 30, 2022, as compared to the significant accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2021.
Recent Accounting Guidance	2. Recent accounting guidance Accounting standards adopted Debt – In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40). This ASU simplifies the accounting for convertible instruments by eliminating certain separation models. Under ASU 2020-06, a convertible debt instrument will generally be reported as a single liability at its amortized cost with no separate accounting for embedded conversion features. The update also requires the if-converted method to be used for convertible instruments and the effect of potential share settlement be included in the diluted earnings per share calculation when an instrument may be settled in cash or shares. The Company adopted ASU 2020-06 effective as of January 1, 2022, using the modified retrospective approach. Adoption of the new standard resulted in a decrease to accumulated deficit of $23.9 million, a decrease to additional paid-in capital of $50.0 million, and an increase to convertible senior notes, net of $26.1 million. Interest expense recognized in the current and future periods will be reduced as a result of accounting for the convertible debt instrument as a single liability measured at its amortized cost. Accounting standards not yet adopted Reference Rate Reform – In March 2020, the FASB issued ASU 2020-04. Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides optional expedients and exceptions for applying U.S. GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another rate that is expected to be discontinued. The amendments in the guidance are optional and effective for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements and related disclosures and does not expect this guidance to have a material effect on its consolidated financial statements. Government Assistance – In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This ASU requires certain disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. The amendment requires disclosure of information about the nature of the transactions and the related accounting policy used to account for the transactions, information regarding the line items within the consolidated financial statements that are affected by the transactions, and significant terms and conditions of the transactions. ASU 2021-10 is effective for annual periods beginning after December 15, 2021, with early application permitted. The Company is currently evaluating the effect the adoption of this new guidance will have on its consolidated financial statement disclosures.

Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The Company disaggregates its software revenue by type of performance obligation and timing of revenue recognition as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Term licenses and other (1)	$	72,485	$	57,624	$	166,530	$	142,558
Perpetual licenses		10,203		9,008		22,327		20,469
Maintenance		33,035		30,549		66,372		60,243
Professional software services (1)		1,170		2,377		2,561		5,829
Software related services		7,376		7,481		16,437		15,579
Client engineering services		7,047		10,268		15,059		20,945
Other		1,340		2,605		3,151		4,452
Total revenue	$	132,656	$	119,912	$	292,437	$	270,075

(1)

Supplementary Information (Tables)

6 Months Ended

Jun. 30, 2022

Supplementary Information [Abstract]

Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets that sum to the total of the amounts reported in the consolidated statement of cash flows (in thousands):


	June 30, 2022		December 31, 2021
Cash and cash equivalents	$	416,137	$	413,743
Restricted cash included in other long-term assets		169		269
Total cash, cash equivalents, and restricted cash	$	416,306	$	414,012

Summary of Property and Equipment

Property and equipment consisted of the following (in thousands):


	June 30,		December 31,
	2022		2021
Land	$	9,728	$	9,888
Building and improvements		18,002		18,358
Computer equipment and software		46,092		45,027
Furniture, equipment and other		12,445		12,947
Leasehold improvements		8,746		9,829
Right-of-use assets under finance leases		2,033		2,532
Total property and equipment		97,046		98,581
Less: accumulated depreciation and amortization		57,676		58,103
Property and equipment, net	$	39,370	$	40,478

Summary of Other Accrued Expenses and Current Liabilities

The following table provides the details of other accrued expenses and current liabilities (in thousands):


	June 30,		December 31,
	2022		2021
Obligations for acquisition of businesses	$	17,103	$	87,636
Income taxes payable		8,524		5,887
Accrued VAT		4,197		6,047
Accrued professional fees		4,621		3,516
Employee stock purchase plan obligations		4,431		4,222
Accrued royalties		2,316		2,537
Defined contribution plan liabilities		1,368		1,513
Non-income tax liabilities		1,133		1,653
Billings in excess of cost		990		1,459
Other current liabilities		4,761		7,756
Total	$	49,444	$	122,226

Summary of Other Long-term Liabilities

The following table provides details of other long-term liabilities (in thousands):


	June 30,		December 31,
	2022		2021
Pension and other post retirement liabilities	$	14,833	$	15,086
Deferred tax liabilities		14,485		15,389
Other long-term liabilities		12,153		12,419
Total	$	41,471	$	42,894

Schedule of Other Expense, Net

Other expense, net consists of the following (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Expense on repurchase of convertible senior notes	$	16,621		$	—		$	16,621		$	—
Foreign exchange loss		5,741			787			7,654			1,716
Other income, net		(455	)		(79	)		(300	)		(173	)
Other expense, net	$	21,907		$	708		$	23,975		$	1,543

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2022

Summary of Amounts of Identified Assets Acquired and Liabilities Assumed at the Acquisition Date

The following table summarizes the preliminary purchase consideration transferred to acquire World Programming and the amounts of identified assets acquired and liabilities assumed at the acquisition date (in thousands):


Fair value of consideration transferred	$	73,043
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash		1,895
Accounts receivable		5,656
Other assets		6,085
Property and equipment		2,209
Trade names (4-year life)		300
Developed technology (5-year life)		33,000
Customer relationships (7-year life)		7,000
SAS legal liability		(66,596	)
Accounts payable and other liabilities		(3,401	)
Deferred revenue		(2,737	)
Deferred tax liabilities and other tax reserves		(11,406	)
Total net identifiable assets acquired and liabilities assumed		(27,995	)
Goodwill (1)	$	101,038

(1)

Goodwill is primarily attributable to market synergies expected to arise after the acquisition and is not deductible for tax purposes. All goodwill is recorded in the Software segment.

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill Attributable to Software Reporting Segment

The changes in the carrying amount of goodwill, which is attributable to the Software reportable segment, were as follows (in thousands):


Balance as of January 1, 2022	$	370,178
Acquisitions		32,568
Effects of foreign currency translation and other		(16,757	)
Balance as of June 30, 2022	$	385,989

Schedule of Other Intangible Assets

A summary of other intangible assets is shown below (in thousands):


	June 30, 2022
	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets:
Developed technology	4-6 years	$	113,072	$	57,398	$	55,674
Customer relationships	7-10 years		48,359		24,768		23,591
Other intangibles	4-10 years		656		195		461
Total definite-lived intangible assets			162,087		82,361		79,726
Indefinite-lived intangible assets:
Trade names			10,601				10,601
Total other intangible assets		$	172,688	$	82,361	$	90,327


	December 31, 2021
	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets:
Developed technology	4-6 years	$	110,891	$	49,672	$	61,219
Customer relationships	7-10 years		48,277		21,859		26,418
Other intangibles	4-10 years		647		127		520
Total definite-lived intangible assets			159,815		71,658		88,157
Indefinite-lived intangible assets:
Trade names			10,900				10,900
Total other intangible assets		$	170,715	$	71,658	$	99,057

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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-Name Accounting Standards Codification
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+ Details

Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of Convertible Notes

The Convertible Notes consisted of the following (in thousands):


	June 30, 2022				December 31, 2021
	2027 Notes		2024 Notes		2027 Notes		2024 Notes
Principal	$	230,000	$	81,754	$	—	$	230,000
Less: unamortized debt discount (1)		—		—		—		27,022
Less: unamortized debt issuance costs		5,835		1,243		—		3,273
Net carrying amount	$	224,165	$	80,511	$	—	$	199,705

(1)

The Company adopted ASU 2020-06 on January 1, 2022, which resulted in the convertible notes to be accounted for as a single liability.

Schedule of Interest Expense Related to Convertible Notes

The interest expense recognized related to the Convertible Notes was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Contractual interest expense	$	194	$	144	$	338	$	288
Amortization of debt issuance costs and discount (1)		406		2,831		818		5,625
Total	$	600	$	2,975	$	1,156	$	5,913

(1)

The 2021 amount includes the amortization of the debt discount prior to the adoption of ASU 2020-06 of January 1, 2022.

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Summary of Stock Option Activity

The following table summarizes the stock option activity under the 2017 Plan for the period:


	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate intrinsic value (in millions)
Outstanding as of January 1, 2022		4,875,562		$	51.02		8.8
Granted		885,262		$	56.26
Exercised		(32,038	)	$	41.44
Forfeited		(57,726	)	$	51.16
Outstanding as of June 30, 2022		5,671,060		$	51.96		8.6	$	27.7
Exercisable as of June 30, 2022		1,037,227		$	40.58		7.9	$	12.8

Summary of Stock-Based Compensation

The stock-based compensation expense was recorded as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of revenue – software	$	2,030	$	1,222	$	3,933	$	2,380
Research and development		8,979		4,143		16,337		7,329
Sales and marketing		7,664		3,659		14,699		7,127
General and administrative		2,527		1,624		4,845		3,460
Total stock-based compensation expense	$	21,200	$	10,648	$	39,814	$	20,296

2017 Plan [Member]

Summary of Restricted Stock Units Awarded

The following table summarizes the restricted stock units, or RSUs, awarded under the 2017 Plan for the period:


	Number of RSUs
Outstanding as of January 1, 2022		1,281,411
Granted		435,614
Vested		(366,667	)
Forfeited		(19,008	)
Outstanding as of June 30, 2022		1,331,350

Net (Loss) Income Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Computation of Numerators and Denominators Used in Basic and Diluted Net (Loss) Income Per Share Amounts

The following table sets forth the computation of the numerators and denominators used in the basic and diluted net (loss) income per share amounts (in thousands, except per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Numerator:
Net (loss) income	$	(33,774	)	$	(13,648	)	$	(22,246	)	$	712
Interest expense related to Convertible Notes, net of tax		194			—			338			—
Numerator for diluted (loss) income per share	$	(33,580	)	$	(13,648	)	$	(21,908	)	$	712
Denominator:
Denominator for basic (loss) income per share— weighted average shares		78,948			75,263			79,204			74,959
Effect of dilutive securities, stock options, RSUs and ESPP shares		—			—			—			4,892
Denominator for dilutive (loss) income per share		78,948			75,263			79,204			79,851
Net (loss) income per share attributable to common stockholders, basic	$	(0.43	)	$	(0.18	)	$	(0.28	)	$	0.01
Net (loss) income per share attributable to common stockholders, diluted	$	(0.43	)	$	(0.18	)	$	(0.28	)	$	0.01

Schedule of Anti-dilutive Shares Excluded from Computation of Diluted Net Loss Per Share

Anti-dilutive shares excluded from the computation of diluted net loss per share were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Stock options and ESPP shares		2,366		3,580		2,345		—
Convertible shares		4,967		1,460		4,967		—
Total shares excluded from calculation		7,333		5,040		7,312		—

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense and Effective Tax Rate

The Company’s income tax expense and effective tax rate for the three and six months ended June 30, 2022 and 2021, were as follows (in thousands, except percentages):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Income tax expense	$	3,899		$	1,361		$	10,429		$	1,402
Effective tax rate		(13	%)		(11	%)		(88	%)		66	%

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss were as follows (in thousands):


	Foreign currency translation			Retirement related benefit plans			Total
Balance as of December 31, 2021	$	(6,400	)	$	(2,550	)	$	(8,950	)
Other comprehensive loss before reclassification		(20,112	)		217			(19,895	)
Amounts reclassified from accumulated other comprehensive loss	—				58			58
Tax effects		—			7			7
Other comprehensive (loss) income		(20,112	)		282			(19,830	)
Balance as of June 30, 2022	$	(26,512	)	$	(2,268	)	$	(28,780	)

Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables are in thousands:



Three months ended June 30, 2022	Software		CES		All other			Total
Revenue	$	124,269	$	7,047	$	1,340		$	132,656
Adjusted EBITDA	$	16,531	$	406	$	(497	)	$	16,440


Three months ended June 30, 2021	Software		CES		All other			Total
Revenue	$	107,039	$	10,268	$	2,605		$	119,912
Adjusted EBITDA	$	8,616	$	1,212	$	(332	)	$	9,496



Six months ended June 30, 2022	Software		CES		All other			Total
Revenue	$	274,227	$	15,059	$	3,151		$	292,437
Adjusted EBITDA	$	62,715	$	1,204	$	(889	)	$	63,030


Six months ended June 30, 2021	Software		CES		All other			Total
Revenue	$	244,678	$	20,945	$	4,452		$	270,075
Adjusted EBITDA	$	44,854	$	2,222	$	(620	)	$	46,456

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Reconciliation of Adjusted EBITDA to U.S. GAAP (loss) income before income taxes:
Adjusted EBITDA	$	16,440		$	9,496		$	63,030		$	46,456
Stock-based compensation expense		(21,200	)		(10,648	)		(39,814	)		(20,296	)
Interest expense		(700	)		(2,988	)		(1,285	)		(5,961	)
Depreciation and amortization		(8,133	)		(6,494	)		(15,819	)		(13,180	)
Restructuring expense		—			(1,732	)		—			(5,078	)
Special adjustments, interest income and other (1)		(16,282	)		79			(17,929	)		173
(Loss) income before income taxes	$	(29,875	)	$	(12,287	)	$	(11,817	)	$	2,114

Recent Accounting Guidance - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Accumulated deficit	$ (100,394)	$ (102,087)
Additional paid-in capital	687,338	724,226
Convertible senior notes, net	$ 0	$ 199,705
ASU 2020-06 [Member]
Debt Instrument [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022
ASU 2020-06 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Debt Instrument [Line Items]
Accumulated deficit	$ 23,900
Additional paid-in capital	50,000
Convertible senior notes, net	$ 26,100

- Definition

Indicates (true false) whether accounting standards update was adopted.

+ References

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Revenue from Contracts with Customers - Schedule of Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation Of Revenue [Line Items]
Total revenue	$ 132,656	$ 119,912	$ 292,437	$ 270,075
Term Licenses and Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	72,485	57,624	166,530	142,558
Perpetual Licenses [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	10,203	9,008	22,327	20,469
Maintenance [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	33,035	30,549	66,372	60,243
Professional Software Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	1,170	2,377	2,561	5,829
Software Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	7,376	7,481	16,437	15,579
Client Engineering Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	7,047	10,268	15,059	20,945
Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 1,340	$ 2,605	$ 3,151	$ 4,452

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Revenue from Contracts with Customers - Schedule of Disaggregation of Revenue (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation Of Revenue [Line Items]
Total revenue	$ 132,656	$ 119,912	$ 292,437	$ 270,075
Term Licenses and Other, Hardware Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 1,700		$ 2,400
Professional Software Services, Hardware Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		$ 1,300		$ 3,000

- Definition

+ References

+ Details

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue From Contracts With Customers [Line Items]
Percentage of net revenues through indirect channels			12.70%	10.70%
Deferred revenue, revenue recognized			$ 65.0
Contracted revenue not yet recognized	$ 147.6	$ 128.5	$ 147.6	$ 128.5
Contracted revenue recognize percentage	73.00%	73.00%	73.00%	73.00%
Sales and Marketing Expense [Member]
Revenue From Contracts With Customers [Line Items]
Sales commissions	$ 2.1	$ 1.9	$ 4.2	$ 3.5
Prepaid and Other Current Assets [Member]
Revenue From Contracts With Customers [Line Items]
Capitalized contract cost net, current	4.3		4.3		$ 4.5
Contract assets	2.7		2.7		2.3
Other Long-Term Assets [Member]
Revenue From Contracts With Customers [Line Items]
Capitalized contract cost net, noncurrent	0.2		0.2		0.4
Accounts Receivable [Member]
Revenue From Contracts With Customers [Line Items]
Contract assets	$ 4.5		$ 4.5		$ 3.8

Revenue from Contracts with Customers - Additional Information (Detail)1	Jun. 30, 2022	Jun. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-07-01
Revenue From Contracts With Customers [Line Items]
Revenue, remaining contractual obligation, expected to recognize, period	12 months	12 months

Supplementary Information - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Supplementary Information [Abstract]
Cash and cash equivalents	$ 416,137	$ 413,743
Restricted cash included in other long-term assets	169	269
Total cash, cash equivalents, and restricted cash	$ 416,306	$ 414,012	$ 260,321	$ 241,547

Supplementary Information - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 97,046	$ 98,581
Less: accumulated depreciation and amortization	57,676	58,103
Property and equipment, net	39,370	40,478
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	9,728	9,888
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	18,002	18,358
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	46,092	45,027
Furniture Equipment and Other [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	12,445	12,947
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	8,746	9,829
Right-of-Use Assets Under Finance Leases [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 2,033	$ 2,532

Supplementary Information - Additional Information (Detail) - USD ($)	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2017	Feb. 28, 2022	Dec. 31, 2020
Noncash or Part Noncash Acquisitions [Line Items]
Depreciation expense, including amortization of right-of-use assets under finance leases	$ 1,900,000		$ 1,900,000	$ 3,700,000	$ 3,700,000
Restructuring charges	$ 0	$ 1,732,000		$ 0	$ 5,078,000
Shares issued								133,336
Shares authorized to be repurchased amount							$ 50,000,000.0
Remaining mezzanine equity	66,664			66,664
Number of shares repurchased	85,119			85,119
Stock repurchase program, Repurchase amount				$ 4,400,000
Stock repurchase program, Average price per share	$ 51.52			$ 51.52
Class A Common Stock [Member]
Noncash or Part Noncash Acquisitions [Line Items]
Stock repurchase program, Repurchase Shares	45,600,000			45,600,000
Class A Common Stock [Member] \| Put Option [Member]
Noncash or Part Noncash Acquisitions [Line Items]
Shares issued						200,000
Put right exercise period from date of purchase						5 years
Put right, exercise price						$ 12.50

Supplementary Information - Summary of Other Accrued Expenses and Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Obligations for acquisition of businesses	$ 17,103	$ 87,636
Income taxes payable	8,524	5,887
Accrued VAT	4,197	6,047
Accrued royalties	2,316	2,537
Accrued professional fees	4,621	3,516
Employee stock purchase plan obligations	4,431	4,222
Billings in excess of cost	990	1,459
Defined contribution plan liabilities	1,368	1,513
Non-income tax liabilities	1,133	1,653
Other current liabilities	4,761	7,756
Total	$ 49,444	$ 122,226

Supplementary Information - Summary of Other Long-term Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Pension and other post retirement liabilities	$ 14,833	$ 15,086
Deferred tax liabilities	14,485	15,389
Other long-term liabilities	12,153	12,419
Total	$ 41,471	$ 42,894

Supplementary Information - Schedule of Other Expense, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Supplementary Information [Abstract]
Expense on repurchase of convertible senior notes	$ 16,621		$ 16,621	$ 0
Foreign exchange loss	5,741	$ 787	7,654	1,716
Other expense (income), net	(455)	(79)	(300)	(173)
Other expense, net	$ 21,907	$ 708	$ 23,975	$ 1,543

Acquisitions - Additional Information (Detail)	1 Months Ended	3 Months Ended		6 Months Ended
Acquisitions - Additional Information (Detail)	Dec. 31, 2021 USD ($) Company	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2022 USD ($) Business	Jun. 30, 2021 USD ($)
Business Acquisition [Line Items]
Gain on mark-to-market adjustment of contingent consideration				$ (5,304,000)	$ 0
Goodwill	$ 370,178,000	$ 385,989,000		385,989,000
Issuance of common stock for employee stock purchase program			$ 4,187,000
Concept Engineering [Member]
Business Acquisition [Line Items]
Aggregate consideration				25,700,000
Remaining purchase price of		$ 22,700,000		$ 22,700,000
Concept Engineering [Member] \| Stock Purchase Agreement [Member]
Business Acquisition [Line Items]
Business acquisition, percentage of interest acquired		100.00%		100.00%
Other business acquisitions [Member]
Business Acquisition [Line Items]
Number of business acquisitions completed \| Business				3
Aggregate consideration				$ 18,000,000.0
Other business acquisitions [Member] \| Software [Member]
Business Acquisition [Line Items]
Goodwill		$ 7,800,000		7,800,000
World Programming [Member]
Business Acquisition [Line Items]
Gain on mark-to-market adjustment of contingent consideration		5,300,000		5,300,000
Aggregate consideration	73,043,000
Goodwill	$ 101,038,000
Number Of Privately Held Companies Acquired \| Company	2
Contingent consideration	$ 23,000,000.0	3,500,000		$ 3,500,000
World Programming [Member] \| Stock Purchase Agreement [Member]
Business Acquisition [Line Items]
Stock-based compensation recognized service period				2 years 6 months
World Programming [Member] \| Employees [Member] \| Other Accrued Expenses and Current Liabilities [Member]
Business Acquisition [Line Items]
Contingent consideration		$ 400,000		$ 400,000
Class A Common Stock [Member] \| World Programming [Member]
Business Acquisition [Line Items]
Amount of cash consideration	50,000,000.0
Contingent consideration	19,500,000
Issuance of common stock for employee stock purchase program	$ 29,500,000
Stock-based compensation recognized service period	3 years

Acquisitions - Summary of Amounts of Identified Assets Acquired and Liabilities Assumed at the Acquisition Date (Detail) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2021	Jun. 30, 2022
Recognized amounts of identifiable assets acquired and liabilities assumed:
Goodwill	$ 370,178	$ 385,989
World Programming [Member]
Business Acquisition [Line Items]
Fair value of consideration transferred	73,043
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash	1,895
Accounts receivable	5,656
Other assets	6,085
Property and equipment	2,209
SAS legal liability	(66,596)
Accounts payable and other liabilities	(3,401)
Deferred revenue	(2,737)
Deferred tax liabilities and other tax reserves	(11,406)
Total net identifiable assets acquired and liabilities assumed	(27,995)
Goodwill	101,038
World Programming [Member] \| Trade Names [Member]
Recognized amounts of identifiable assets acquired and liabilities assumed:
Indefinite-lived intangibles	300
World Programming [Member] \| Developed Technology [Member]
Recognized amounts of identifiable assets acquired and liabilities assumed:
Finite-lived intangibles	33,000
World Programming [Member] \| Customer Relationships [Member]
Recognized amounts of identifiable assets acquired and liabilities assumed:
Finite-lived intangibles	$ 7,000

Acquisitions - Summary of Amounts of Identified Assets Acquired and Liabilities Assumed at the Acquisition Date (Parenthetical) (Detail) - World Programming [Member] $ in Thousands	1 Months Ended
	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Goodwill deductible for tax purposes	$ 0
Trade Names [Member]
Business Acquisition [Line Items]
Weighted-average useful life of acquired finite-lived intangible assets	4 years
Developed Technology [Member]
Business Acquisition [Line Items]
Weighted-average useful life of acquired finite-lived intangible assets	5 years
Customer Relationships [Member]
Business Acquisition [Line Items]
Weighted-average useful life of acquired finite-lived intangible assets	7 years

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill Attributable to Software Reportable Segment (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 370,178
Acquisitions	32,568
Effects of foreign currency translation and other	(16,757)
Ending Balance	$ 385,989

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Summary Of Other Intangible Assets [Line Items]
Gross carrying amount	$ 162,087	$ 159,815
Accumulated amortization	82,361	71,658
Net carrying amount	79,726	88,157
Gross carrying amount	172,688	170,715
Net carrying amount	90,327	99,057
Developed Technology [Member]
Summary Of Other Intangible Assets [Line Items]
Gross carrying amount	113,072	110,891
Accumulated amortization	57,398	49,672
Net carrying amount	$ 55,674	$ 61,219
Developed Technology [Member] \| Minimum [Member]
Summary Of Other Intangible Assets [Line Items]
Weighted-average useful life of acquired finite-lived intangible assets	4 years	4 years
Developed Technology [Member] \| Maximum [Member]
Summary Of Other Intangible Assets [Line Items]
Weighted-average useful life of acquired finite-lived intangible assets	6 years	6 years
Customer Relationships [Member]
Summary Of Other Intangible Assets [Line Items]
Gross carrying amount	$ 48,359	$ 48,277
Accumulated amortization	24,768	21,859
Net carrying amount	$ 23,591	$ 26,418
Customer Relationships [Member] \| Minimum [Member]
Summary Of Other Intangible Assets [Line Items]
Weighted-average useful life of acquired finite-lived intangible assets	7 years	7 years
Customer Relationships [Member] \| Maximum [Member]
Summary Of Other Intangible Assets [Line Items]
Weighted-average useful life of acquired finite-lived intangible assets	10 years	10 years
Other Intangibles [Member]
Summary Of Other Intangible Assets [Line Items]
Gross carrying amount	$ 656	$ 647
Accumulated amortization	195	127
Net carrying amount	$ 461	$ 520
Other Intangibles [Member] \| Minimum [Member]
Summary Of Other Intangible Assets [Line Items]
Weighted-average useful life of acquired finite-lived intangible assets	4 years	4 years
Other Intangibles [Member] \| Maximum [Member]
Summary Of Other Intangible Assets [Line Items]
Weighted-average useful life of acquired finite-lived intangible assets	10 years	10 years
Trade Names [Member]
Summary Of Other Intangible Assets [Line Items]
Net carrying amount	$ 10,601	$ 10,900
Gross carrying amount	$ 10,601	$ 10,900

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 6,208	$ 4,615	$ 12,111	$ 9,492

Debt - Additional Information (Detail)	1 Months Ended		3 Months Ended		6 Months Ended
Debt - Additional Information (Detail)	Jun. 30, 2022 USD ($) Days $ / shares shares	Jun. 30, 2019 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares	Mar. 31, 2022	Jun. 30, 2022 USD ($) Days $ / shares	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Accumulated deficit	$ (100,394,000)		$ (100,394,000)		$ (100,394,000)	$ (102,087,000)
Additional paid-in capital	687,338,000		687,338,000		687,338,000	724,226,000
Convertible senior notes, net	$ 0		$ 0		$ 0	199,705,000
ASU 2020-06 [Member]
Debt Instrument [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true		true		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022		Jan. 01, 2022		Jan. 01, 2022
ASU 2020-06 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Debt Instrument [Line Items]
Accumulated deficit	$ 23,900,000		$ 23,900,000		$ 23,900,000
Additional paid-in capital	50,000,000.0		50,000,000.0		50,000,000.0
Convertible senior notes, net	26,100,000		26,100,000		$ 26,100,000
Convertible Senior Notes Due in 2024 [Member]
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount		$ 230,000,000.0
Debt instrument interest rate		0.25%
Additional principal amount of notes to underwriters		$ 30,000,000.0
Net proceeds from issuance of costs	224,300,000	$ 221,900,000
Debt instrument frequency of periodic payment					semi-annually
Interest payment commencement date		Dec. 01, 2019
Debt instrument maturity date		Jun. 01, 2024
Debt instrument, description					The 2024 Notes bear interest at a rate of 0.25% per year, payable semi-annually in arrears on June 1 and December 1 of each year, commencing December 1, 2019.
Debt instrument, convertible, terms of conversion feature				The 2024 Notes have an initial conversion rate of 21.5049 shares of the Company's Class A common stock per $1,000 principal amount of 2024 Notes, which is equivalent to an initial conversion price of approximately $46.50 per share of its Class A common stock.
Debt instrument repurchased face amount	148,200,000		148,200,000		$ 148,200,000
Repayments of notes payable			192,400,000
Fair value expense recognized			16,600,000		16,600,000
Debt instrument principal outstanding	$ 81,800,000		$ 81,800,000		81,800,000
Debt instrument, convertible, "if-converted value" in excess of the principal amount					$ 10,500,000
Convertible senior notes, net						199,705,000
Convertible Senior Notes Due in 2024 [Member] \| ASU 2020-06 [Member]
Debt Instrument [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022		Jan. 01, 2022		Jan. 01, 2022
Convertible Senior Notes Due in 2024 [Member] \| ASU 2020-06 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Debt Instrument [Line Items]
Accumulated deficit	$ 23,900,000		$ 23,900,000		$ 23,900,000
Additional paid-in capital	50,000,000.0		50,000,000.0		50,000,000.0
Convertible senior notes, net	26,100,000		26,100,000		$ 26,100,000
Convertible Senior Notes Due in 2024 [Member] \| Class A Common Stock [Member]
Debt Instrument [Line Items]
Debt conversion, converted instrument, shares issued \| shares		21.5049
Debt instrument conversion rate principal amount of notes		$ 1,000
Debt instrument convertible initial conversion price per share of common stock \| $ / shares		$ 46.50
Convertible Senior Notes Due in 2024 [Member] \| Class A Common Stock [Member] \| Convertible Notes, Holders Conversion Rights, Circumstances 1 [Member]
Debt Instrument [Line Items]
Debt instrument, convertible, consecutive trading days \| Days					30
Debt Instrument, Redemption Price, Percentage					100.00%
Convertible senior notes due in 2027 [Member]
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount	$ 230,000,000.0		$ 230,000,000.0		$ 230,000,000.0
Debt instrument interest rate	1.75%		1.75%		1.75%
Additional principal amount of notes to initial purchaser's	$ 30,000,000.0		$ 30,000,000.0		$ 30,000,000.0
Debt instrument frequency of periodic payment					semiannually
Interest payment commencement date	Dec. 15, 2022
Debt instrument, description					The 2027 Notes mature on June 15, 2027, unless earlier repurchased, redeemed or converted. The Company may redeem for cash all or, subject to certain limitations, any portion of the 2027 Notes, at its option, on or after June 20, 2025 if the last reported sale price of Altair's Class A Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The 2027 Notes bear interest at a rate of 1.750% per year, payable semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2022.
Debt instrument conversion rate principal amount of notes	$ 1,000		1,000		$ 1,000
Debt instrument, convertible, terms of conversion feature					The 2027 Notes have an initial conversion rate of 13.9505 shares of the Company's Class A common stock per $1,000 principal amount of 2027 Notes, which is equivalent to an initial conversion price of approximately $71.68 per share of Class A common stock.
Convertible senior notes, net						$ 0
Convertible senior notes due in 2027 [Member] \| Class A Common Stock [Member]
Debt Instrument [Line Items]
Debt conversion, converted instrument, shares issued \| shares	13.9505
Debt instrument conversion rate principal amount of notes	$ 1,000		$ 1,000		$ 1,000
Debt instrument convertible initial conversion price per share of common stock \| $ / shares	$ 71.68		$ 71.68		$ 71.68
Convertible senior notes due in 2027 [Member] \| Class A Common Stock [Member] \| Convertible Notes, Holders Conversion Rights, Circumstances 1 [Member]
Debt Instrument [Line Items]
Debt instrument conversion rate principal amount of notes	$ 1,000		$ 1,000		$ 1,000
Debt instrument, convertible, business days \| Days	5
Debt instrument, convertible, consecutive trading days \| Days	30
Debt instrument, convertible, maximum threshold percentage of sale price of common stock during measurement period	98.00%
Convertible senior notes due in 2027 [Member] \| Class A Common Stock [Member] \| Convertible Notes, Holders Conversion Rights, Circumstances 1 [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, convertible, trading days \| Days	20				20
Debt instrument, convertible, threshold percentage of conversion price	130.00%				130.00%
Convertible senior notes due in 2027 [Member] \| Class A Common Stock [Member] \| Convertible notes holders conversion rights under circumstances two [Member]
Debt Instrument [Line Items]
Debt instrument, convertible, consecutive trading days \| Days	5
Twenty Nineteen Credit Agreement
Debt Instrument [Line Items]
Maturity date					Dec. 15, 2025
Credit facility	$ 150,000,000.0		150,000,000.0		$ 150,000,000.0
Increase in line of credit borrowing capacity	50,000,000.0		50,000,000.0		50,000,000.0
Secured Credit Agreement [Member]
Debt Instrument [Line Items]
Loan outstanding	0		0		0
Amount available for future borrowing	$ 150,000,000.0		$ 150,000,000.0		$ 150,000,000.0

Debt - Schedule of Convertible Notes (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Net carrying amount	$ 0	$ 199,705
Net carrying amount	304,676	0
Convertible Senior Notes Due in 2024 [Member]
Debt Instrument [Line Items]
Principal	81,754	230,000
Less: unamortized debt discount	0	27,022
Less: unamortized debt issuance costs	1,243	3,273
Net carrying amount		199,705
Net carrying amount	80,511
Convertible senior notes due in 2027 [Member]
Debt Instrument [Line Items]
Principal	230,000	0
Less: unamortized debt discount	0	0
Less: unamortized debt issuance costs	5,835	0
Net carrying amount		$ 0
Net carrying amount	$ 224,165

Debt - Schedule of Net Carrying Value of Convertible Notes (Parenthetical) (Detail) - ASU 2020-06 [Member]	Jun. 30, 2022
Debt Instrument [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022
Convertible Senior Notes Due in 2024 [Member]
Debt Instrument [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022
Convertible Senior Notes Due in 2024 and 2027 [Member]
Debt Instrument [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022

- Definition

Indicates (true false) whether accounting standards update was adopted.

+ References

+ Details

- Definition

Date accounting standards update was adopted, in YYYY-MM-DD format.

+ References

+ Details

Debt - Schedule of Interest Expense Recognized Related to Convertible Notes (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Amortization of debt issuance costs and discount			$ 829	$ 5,631
Convertible Senior Notes Due in 2024 and 2027 [Member]
Debt Instrument [Line Items]
Contractual interest expense	$ 194	$ 144	338	288
Amortization of debt issuance costs and discount	406	2,831	818	5,625
Total	$ 600	$ 2,975	$ 1,156	$ 5,913

Debt - Schedule of Interest Expense Recognized Related to Convertible Notes (Parenthetical) (Detail) - ASU 2020-06 [Member]	Jun. 30, 2022
Debt Instrument [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022
Convertible Senior Notes Due in 2024 [Member]
Debt Instrument [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022
Convertible Senior Notes Due in 2024 and 2027 [Member]
Debt Instrument [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2022

- Definition

Indicates (true false) whether accounting standards update was adopted.

+ References

+ Details

- Definition

Date accounting standards update was adopted, in YYYY-MM-DD format.

+ References

+ Details

Fair Value Measurements - Additional Information (Detail) $ in Millions	Jun. 30, 2022 USD ($)
Convertible senior notes due in 2027 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of convertible notes	$ 224.0
Convertible Senior Notes Due in 2024 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of convertible notes	$ 101.3

Stock-based Compensation - Additional Information (Detail)	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) shares	Jun. 30, 2022 USD ($) Installment $ / shares shares	Sep. 27, 2017 shares
Stock Purchase Agreement [Member] \| World Programming [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 4,500,000		$ 8,900,000
Business combination, estimated post combination expense				$ 29,500,000
Weighted average remaining service period				2 years 6 months
Stock Purchase Agreement [Member] \| Powersim Inc [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		900,000		$ 1,100,000
Stock Purchase Agreement [Member] \| Concept Engineering [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		200,000		$ 200,000
2021 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of purchase price for each share of common stock purchased of lower of fair market value per share on first day of applicable offering period				85.00%
Stock-based compensation expense		$ 600,000		$ 1,300,000
2021 Employee Stock Purchase Plan [Member] \| The Timing of Payroll Deductions [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount withheld on behalf of employees for a future purchase				$ 4,400,000
2021 Employee Stock Purchase Plan [Member] \| Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance \| shares		3,123,191		3,123,191
Issuance of common stock for employee stock purchase program (in shares) \| shares				76,809
Class A Common Stock [Member] \| World Programming [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining service period	3 years
Class A Common Stock [Member] \| Stock Purchase Agreement [Member] \| World Programming [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Business acquisition, shares issued value	$ 29,500,000	$ 6,000,000.0	$ 4,300,000	$ 6,000,000.0
Class A Common Stock [Member] \| Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock for employee stock purchase program (in shares) \| shares			77,000
2017 Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Intrinsic value of options exercised				$ 0.4
2017 Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value of RSUs \| $ / shares		$ 57.21		$ 57.21
Number of vesting equal annual installments \| Installment				4
Compensation cost related to nonvested awards not yet recognized		$ 70,400,000		$ 70,400,000
Weighted average period of recognition				2 years 7 months 6 days
2017 Plan [Member] \| Class A Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance \| shares					16,999,318

Stock-based Compensation - Summary of Restricted Stock Units Awarded (Detail) - Two Thousand And Seventeen Equity Incentive Plan [Member] - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of RSUs, Outstanding Beginning Balance	1,281,411
Number of RSUs, Granted	435,614
Number of RSUs, Vested	(366,667)
Number of RSUs, Forfeited	(19,008)
Number of RSUs, Outstanding Ending Balance	1,331,350

Stock-based Compensation - Summary of Stock Option Activity under 2017 Plan (Detail) - 2017 Plan [Member] $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of options, Outstanding, Beginning Balance \| shares	4,875,562
Number of options, Granted \| shares	885,262
Number of options, Exercised \| shares	(32,038)
Number of options, Forfeited \| shares	(57,726)
Number of options, Outstanding, Ending Balance \| shares	5,671,060	4,875,562
Number of options, Exercisable \| shares	1,037,227
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price per share, Outstanding, Beginning Balance \| $ / shares	$ 51.02
Weighted average exercise price per share, Granted \| $ / shares	56.26
Weighted average exercise price per share, Exercised \| $ / shares	41.44
Weighted average exercise price per share, Forfeited \| $ / shares	51.16
Weighted average exercise price per share, Outstanding, Ending Balance \| $ / shares	51.96	$ 51.02
Weighted average exercise price per share, Exercisable \| $ / shares	$ 40.58
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining contractual term (years), Outstanding	8 years 7 months 6 days	8 years 9 months 18 days
Weighted average remaining contractual term (years), Exercisable	7 years 10 months 24 days
Aggregate intrinsic value, Outstanding \| $	$ 27.7
Aggregate intrinsic value, Exercisable \| $	$ 12.8

Stock-based Compensation - Summary of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 21,200	$ 10,648	$ 39,814	$ 20,296
Cost of Revenue - Software [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,030	1,222	3,933	2,380
Research and development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	8,979	4,143	16,337	7,329
Sales and marketing [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	7,664	3,659	14,699	7,127
General and administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,527	$ 1,624	$ 4,845	$ 3,460

Net (Loss) Income Per Share - Computation of Numerators and Denominators Used in Basic and Diluted Net (Loss) Income Per Share Amounts (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net (loss) income	$ (33,774)	$ 11,528	$ (13,648)	$ 14,360	$ (22,246)	$ 712
Interest expense related to Convertible Notes, net of tax	194		0		338	0
Numerator for diluted (loss) income per share	$ (33,580)		$ (13,648)		$ (21,908)	$ 712
Denominator:
Denominator for basic (loss) income per share- weighted average shares	78,948		75,263		79,204	74,959
Effect of dilutive securities, stock options, RSUs and ESPP shares	0		0		0	4,892
Denominator for dilutive (loss) income per share	78,948		75,263		79,204	79,851
Net (loss) income per share attributable to common stockholders, basic	$ (0.43)		$ (0.18)		$ (0.28)	$ 0.01
Net (loss) income per share attributable to common stockholders, diluted	$ (0.43)		$ (0.18)		$ (0.28)	$ 0.01

Net (Loss) Income Per Share - Schedule of Anti-dilutive Shares Excluded from Computation of Diluted Net Loss Per Share (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	7,333	5,040	7,312	0
Stock Options and ESPP Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	2,366	3,580	2,345	0
Convertible Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from calculation	4,967	1,460	4,967	0

Income Taxes - Schedule of Income Tax Expense and Effective Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 3,899	$ 1,361	$ 10,429	$ 1,402
Effective tax rate	(13.00%)	(11.00%)	(88.00%)	66.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Net discrete expense (benefit)	$ 3.4	$ (2.4)

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 618,425	$ 399,029	$ 613,197	$ 378,586
Total other comprehensive (loss) income	(15,772)	2,724	(19,830)	(1,108)
Ending balance	558,172	399,345	558,172	399,345
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(6,400)
Other comprehensive loss before reclassification			(20,112)
Total other comprehensive (loss) income			(20,112)
Ending balance	(26,512)		(26,512)
Retirement Related Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(2,550)
Other comprehensive loss before reclassification			217
Amounts reclassified from accumulated other comprehensive loss			58
Tax effects			7
Total other comprehensive (loss) income			282
Ending balance	(2,268)		(2,268)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(13,008)	(6,629)	(8,950)	(2,797)
Other comprehensive loss before reclassification			(19,895)
Amounts reclassified from accumulated other comprehensive loss			58
Tax effects			7
Total other comprehensive (loss) income			(19,830)
Ending balance	$ (28,780)	$ (3,905)	$ (28,780)	$ (3,905)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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Commitments and Contingencies - Additional Information (Detail) - N C Judgement - USD ($) $ in Millions		12 Months Ended
	Jan. 03, 2022	Dec. 31, 2016
Loss Contingencies [Line Items]
Loss contingency damages awarded value		$ 79.1
Outstanding loss contingency damages paid	$ 65.9

Segment Information - Additional Information (Detail)	6 Months Ended
Segment Information - Additional Information (Detail)	Jun. 30, 2022 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Schedule of Segment Reporting Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 132,656	$ 119,912	$ 292,437	$ 270,075
Adjusted EBITDA	16,440	9,496	63,030	46,456
Software [Member]
Segment Reporting Information [Line Items]
Revenue	124,269	107,039	274,227	244,678
Adjusted EBITDA	16,531	8,616	62,715	44,854
CES [Member]
Segment Reporting Information [Line Items]
Revenue	7,047	10,268	15,059	20,945
Adjusted EBITDA	406	1,212	1,204	2,222
All Other [Member]
Segment Reporting Information [Line Items]
Revenue	1,340	2,605	3,151	4,452
Adjusted EBITDA	$ (497)	$ (332)	$ (889)	$ (620)

- Definition

+ References

+ Details

Segment Information - Reconciliation of U.S. GAAP (Loss) Income Before Income Taxes to Adjusted EBITDA (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting [Abstract]
Adjusted EBITDA	$ 16,440,000	$ 9,496,000	$ 63,030,000	$ 46,456,000
Stock-based compensation expense	(21,200,000)	(10,648,000)	(39,814,000)	(20,296,000)
Interest expense	(700,000)	(2,988,000)	(1,285,000)	(5,961,000)
Depreciation and amortization	(8,133,000)	(6,494,000)	(15,819,000)	(13,180,000)
Restructuring expense	0	(1,732,000)	0	(5,078,000)
Special adjustments, interest income and other	(16,282,000)	79,000	(17,929,000)	173,000
(Loss) income before income taxes	$ (29,875,000)	$ (12,287,000)	$ (11,817,000)	$ 2,114,000

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

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+ Details

Segment Information - Reconciliation of U.S. GAAP Income (Loss) Before Income Taxes to Adjusted EBITDA (Parenthetical) (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Currency losses on acquisition-related intercompany loans	$ 5,400,000	$ 6,900,000
Gain On Mark To Market Adjustment Of Contingent Consideration		(5,304,000)	$ 0
World Programming [Member]
Segment Reporting Information [Line Items]
Gain On Mark To Market Adjustment Of Contingent Consideration	5,300,000	5,300,000
Convertible Senior Notes Due in 2024 [Member]
Segment Reporting Information [Line Items]
Expense on repurchase of convertible senior notes	$ 16,600,000	$ 16,600,000