0000950170-24-018804 | 10-K | XBRL Viewer

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Stock-based Compensation - Summary of Stock Option Activity under 2012 Plan (Detail) - 2012 Plan [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of options, Outstanding, Beginning Balance	374,574
Number of options, Exercised	(103,215)
Number of options, Outstanding and exercisable, Ending Balance	271,359
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	$ 4.34
Weighted average exercise price per share, Exercised	4.03
Weighted average exercise price per share, Outstanding and exercisable, Ending Balance	$ 4.46
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining contractual term (years), Outstanding		3 years 4 months 24 days
Weighted average remaining contractual term (years), Outstanding and exercisable	2 years 6 months
Aggregate intrinsic value, Outstanding and exercisable	$ 21.6

Segment Information - Reconciliation of U.S. GAAP (Loss) Income Before Income Taxes to Adjusted EBITDA (Detail) - USD ($)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Segment Reporting [Abstract]

Adjusted EBITDA

$ 129,138,000

$ 108,600,000

$ 85,253,000

Stock-based compensation expense

(85,581,000)

(84,787,000)

(44,549,000)

Interest expense

(6,116,000)

(4,377,000)

(12,065,000)

Depreciation and amortization

(39,124,000)

(35,504,000)

(25,644,000)

Restructuring expense

(5,053,000)

Special adjustments, interest income and other

^[1]

14,302,000

(12,145,000)

1,770,000

Income (loss) before income taxes

$ 12,619,000

$ (28,213,000)

$ (288,000)

[1]

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

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 32
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Paragraph 1
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

- Definition

Amount of the cost of borrowed funds accounted for as interest expense.

+ References + Details

Supplementary Information - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 94,364	$ 94,552
Less: accumulated depreciation and amortization	54,561	57,035
Property and equipment, net	39,803	37,517
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	8,376	7,994
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 17,528	16,995
Building and Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	5 years
Building and Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	39 years
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 45,678	45,340
Computer Equipment and Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	3 years
Computer Equipment and Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	5 years
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 14,402	15,457
Office Furniture and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	5 years
Office Furniture and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	15 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 8,380	$ 8,766
Leasehold Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	5 years
Leasehold Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	10 years

Description of Business

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

1. 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 enabling organizations across broad industry segments to drive smarter decisions in an increasingly connected world. Altair delivers software and cloud solutions in the areas of simulation and design, high-performance computing (“HPC”), data analytics, and artificial intelligence (“AI”). Altair’s products and services leverage computational intelligence to drive innovation for a more connected, safe, and sustainable future. The Company is based in Troy, Michigan.

The Company’s simulation and AI-driven approach to innovation is powered by the Company’s broad portfolio of high-fidelity and high-performance physics solvers, our market leading technology for optimization and HPC, and our end-to-end platform for developing AI and Internet of Things (“IoT”) solutions. The Company’s integrated suite of software optimizes design performance across multiple disciplines encompassing structures, motion, fluids, thermal management, electromagnetics, system modeling, and embedded systems, while also providing AI solutions and true-to-life visualization and rendering. The Company's HPC solutions maximize the efficient utilization of complex compute resources and streamline the workflow management of compute-intensive tasks for applications including AI, modeling and simulation, and visualization. Altair's data analytics, AI, and IoT products include data preparation, data science, MLOps, orchestration, and visualization solutions that fuel engineering, scientific, and business decisions.

Altair also provides Client Engineering Services to support its customers with long-term ongoing product design and development expertise. This has the benefit of embedding the Company within customers, deepening its understanding of their processes, and allowing the Company to quickly perceive trends in the overall market, helping the Company to better tailor its software products’ research and development and sales initiatives. The Company hires engineers and data scientists for placement at a customer site for specific customer-directed assignments.

Supplementary Information - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplementary Information [Abstract]
Cash and cash equivalents	$ 467,459	$ 316,146
Restricted cash included in other long-term assets	117	812
Total cash, cash equivalents, and restricted cash	$ 467,576	$ 316,958	$ 414,012	$ 241,547

Segment Information - Summary of Sales to External Customers and Long-Lived Assets by Geographical Areas (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 612,701	$ 572,221	$ 532,179
Long Lived Assets	112,875	134,700
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	301,857	274,635	259,344
Long Lived Assets	50,448	56,853
Other American Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	17,792	13,425	12,249
Long Lived Assets	3,538	5,841
Americas [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	319,649	288,060	271,593
Long Lived Assets	53,986	62,694
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	46,593	51,495	52,227
Long Lived Assets	19,821	25,332
France [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	23,122	19,442	19,694
Long Lived Assets	938	740
Other Europe, Middle East and Africa Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	66,903	69,769	52,264
Long Lived Assets	32,264	39,405
Europe Middle East And Africa [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	136,618	140,706	124,185
Long Lived Assets	53,023	65,477
Japan [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	39,508	40,335	42,322
Long Lived Assets	682	944
Other Asia Pacific Countries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	116,926	103,120	94,079
Long Lived Assets	5,184	5,585
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	156,434	143,455	$ 136,401
Long Lived Assets	$ 5,866	$ 6,529

Retirement Benefits - Schedule of Pension Benefits Obligation (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Pension Plan [Abstract]
Other long-term assets	$ 135	$ 127
Accrued compensation and benefits	1,170	957
Other long-term liabilities	15,815	12,273
Components of pension benefits	$ 16,850	$ 13,103

Supplementary Information - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplementary Information [Line Items]
Provision for credit loss		$ 2,941,000	$ 2,590,000	$ 2,539,000	$ 2,559,000
Depreciation expense, including amortization of right-of-use assets under finance leases		8,300,000	8,000,000	7,300,000
Proceeds from private placement of common stock		0	0	200,000,000
Restructuring costs		$ 0	$ 0	$ 5,053,000
Class A Common Stock [Member] \| Private Placement [Member] \| Matrix Capital Management Company LP [Member]
Supplementary Information [Line Items]
Stock issued	2,935,564
Proceeds from private placement of common stock	$ 200,000,000

Income Taxes - Operating Loss and Tax Credit Carryforwards (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Operating Loss and Tax Credit Carryforward [Line Items]
U.S. foreign tax credits, expiration year	2027 - 2032
U.S. foreign tax credits	$ 29,317
Total operating loss and tax credit carryforwards	$ 109,454
Foreign Tax Authority [Member]
Operating Loss and Tax Credit Carryforward [Line Items]
Foreign general business credits and loss carryforwards, expiration year	2024-Indefinite
Credits and loss carryforwards	$ 15,711
General Business Tax Credit Carryforward [Member]
Operating Loss and Tax Credit Carryforward [Line Items]
U.S. general business credits and loss carryforwards, expiration year	2024-Indefinite
Credits and loss carryforwards	$ 64,426

Commitments and Contingencies - Future Purchase Obligations (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 17,030
2025	15,389
2026	7,126
2027	484
2028	61
Thereafter	0
Total	$ 40,090

Stockholders' Equity - Additional Information (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) Vote $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares	May 31, 2023 USD ($)
Class of Stock [Line Items]
Preferred stock, shares authorized	45,000,000	45,000,000
Preferred stock, par value \| $ / shares	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock dividends \| $ / shares	$ 0	$ 0	$ 0
Class A Common Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized	513,796,572	513,797,000
Common stock, par value \| $ / shares	$ 0.0001	$ 0.0001
Number of votes entitled per share \| Vote	1
Number of shares repurchased	91,273
Stock repurchase program, Average price per share \| $ / shares	$ 46.63
Stock repurchase program, Repurchase amount \| $	$ 4.3
Stock repurchase program, Repurchase Shares		49,100,000
Class A Common Stock [Member] \| Maximum [Member]
Class of Stock [Line Items]
Shares authorized to be repurchased amount \| $				$ 75.0
Class A Common Stock [Member] \| Minimum [Member]
Class of Stock [Line Items]
Shares authorized to be repurchased amount \| $				$ 50.0
Class B Common Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized	41,203,428	41,203,000
Common stock, par value \| $ / shares	$ 0.0001	$ 0.0001
Number of votes entitled per share \| Vote	10

Retirement Benefits

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Retirement Benefits

14. Retirement benefits

The Company sponsors a 401(k)-profit sharing plan (the “Plan”) for all eligible U.S. employees. This Plan allows eligible employees to contribute up to 80% of their compensation to the Plan. The Company makes discretionary matching contributions to the Plan provided the employee is employed on the last day of the year. Such discretionary contributions vest ratably over five years of service. The Company’s contributions to the Plan were $1.6 million for each of the years ended December 31, 2023, 2022 and 2021.

The Company also participates in government-mandated retirement and/or termination indemnity plans, benefiting certain non-U.S. employees. Termination benefits are generally lump sum payments based upon an individual’s years of credited service and annual salary at retirement. These plans are generally unfunded, and employees receive payments at the time of retirement or termination under applicable labor laws or agreements. The amount of net benefit cost recorded in the consolidated statements of operations for these plans was $2.6 million, $2.5 million and $3.0 million in 2023, 2022 and 2021, respectively. The amount of benefits paid under these plans was $0.4 million, $0.7 million and $0.4 million in 2023, 2022 and 2021, respectively. The accumulated benefit obligation, unlike the projected benefit obligation, does not reflect expected benefit increases from future salary levels, and was $11.6 million and $10.1 million as of December 31, 2023 and 2022, respectively, under these plans. The projected benefit obligation, net of plan assets, was $16.8 million and $13.1 million as of December 31, 2023 and 2022, respectively.

A summary of the components of the pension benefits obligation recorded in the consolidated balance sheets are as follows (in thousands):


	December 31,
	2023		2022
Other long-term assets	$	135	$	127
Accrued compensation and benefits		1,170		957
Other long-term liabilities		15,815		12,273
	$	16,850	$	13,103

The estimated future benefit payments, which reflect expected future service that are expected to be paid for each of the next five years are as follows (in thousands):


Year ending
December 31, 2024	$	1,233
December 31, 2025	$	974
December 31, 2026	$	1,500
December 31, 2027	$	1,323
December 31, 2028	$	1,229
Next five years	$	6,949

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Goodwill and Other Intangible Assets - Summary of Estimated Amortization Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
December 31, 2024	$ 28,835
December 31, 2025	22,103
December 31, 2026	15,920
December 31, 2027	4,689
December 31, 2028	1,286
Thereafter	239
Net carrying amount	$ 73,072	$ 97,183

Fair Value Measurements - Additional Information (Detail) $ in Millions	Dec. 31, 2023 USD ($)
Convertible Senior Notes Due in 2027 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of convertible notes	$ 297.6
Convertible Senior Notes Due in 2024 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of convertible notes	$ 147.6

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Software and Other [Member]
Loss Contingencies [Line Items]
Royalty fees	$ 12.2	$ 11.7	$ 10.9

Supplementary Information - Summary of Other Accrued Expenses and Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Income taxes payable	$ 12,239	$ 11,524
Accrued VAT	8,710	8,402
Employee stock purchase plan obligations	4,155	3,969
Obligations related to acquisition of businesses	3,286	13,136
Customer advances	2,700	921
Non-income tax liabilities	2,473	2,465
Accrued professional fees	2,436	3,637
Billings in excess of cost	2,385	1,874
Accrued royalties	2,313	2,593
Defined contribution plan liabilities	1,454	1,393
Other current liabilities	6,247	6,457
Total	$ 48,398	$ 56,371

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 467,459	$ 316,146
Accounts receivable, net	190,461	170,279
Income tax receivable	16,650	11,259
Prepaid expenses and other current assets	26,053	29,142
Total current assets	700,623	526,826
Property and equipment, net	39,803	37,517
Operating lease right of use assets	30,759	33,601
Goodwill	458,125	449,048
Other intangible assets, net	83,550	107,609
Deferred tax assets	9,955	9,727
Other long-term assets	40,678	40,410
TOTAL ASSETS	1,363,493	1,204,738
CURRENT LIABILITIES
Accounts payable	8,995	10,434
Accrued compensation and benefits	45,081	42,456
Current portion of operating lease liabilities	8,825	10,396
Other accrued expenses and current liabilities	48,398	56,371
Deferred revenue	131,356	113,081
Convertible senior notes, net	81,455	0
Total current liabilities	324,110	232,738
Convertible senior notes, net	225,929	305,604
Operating lease liabilities, net of current portion	22,625	24,065
Deferred revenue, non-current	32,347	31,379
Other long-term liabilities	47,151	41,216
TOTAL LIABILITIES	652,162	635,002
Commitments and contingencies
STOCKHOLDERS’ EQUITY
Preferred stock ($0.0001 par value), authorized 45,000 shares, none issued or outstanding	0	0
Additional paid-in capital	864,135	721,307
Accumulated deficit	(130,503)	(121,577)
Accumulated other comprehensive loss	(22,309)	(30,002)
TOTAL STOCKHOLDERS’ EQUITY	711,331	569,736
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,363,493	1,204,738
Class A Common Stock [Member]
STOCKHOLDERS’ EQUITY
Common stock	5	5
Class B Common Stock [Member]
STOCKHOLDERS’ EQUITY
Common stock	$ 3	$ 3

Debt - Schedule of Net Carrying Value of 2027 and 2024 Notes (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Jun. 30, 2019
Debt Instrument [Line Items]
Convertible Notes Payable, Noncurrent	$ 225,929	$ 305,604
Net carrying amount , current	81,455	0
Net carrying amount	225,929	305,604
Convertible Senior Notes Due in 2024 [Member]
Debt Instrument [Line Items]
Principal	81,729	81,754		$ 230,000
Less: unamortized debt issuance costs	274	903
Convertible Notes Payable, Noncurrent		80,851
Net carrying amount , current	81,455
Net carrying amount		80,851
Convertible senior notes due in 2027 [Member]
Debt Instrument [Line Items]
Principal	230,000	230,000	$ 230,000
Less: unamortized debt issuance costs	4,071	5,247
Convertible Notes Payable, Noncurrent	225,929	224,753
Net carrying amount	$ 225,929	$ 224,753

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Future Purchase Obligations

The future purchase obligations for these agreements are as follows (in thousands):


Year ending December 31,
2024	$	17,030
2025		15,389
2026		7,126
2027		484
2028		61
Thereafter		—
Total	$	40,090

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Deferred revenue	$ 9,730	$ 18,571
Net operating loss carryforwards	60,702	64,091
Tax credit carryforwards	48,752	24,319
Stock-based compensation	12,011	8,312
Capitalized research and development	58,946	43,860
Lease obligation	7,517	8,810
Employee benefits	6,955	5,941
Other	3,910	5,931
Total gross deferred tax assets	208,523	179,835
Less: valuation allowances	(179,766)	(149,441)
Net deferred tax assets	28,757	30,394
Deferred tax liabilities:
Prepaid royalties	3,602	0
Property and equipment and intangibles	16,610	24,155
Deferred tax on investment in subsidiary	1,950	1,500
Lease right of use asset	7,357	8,578
Other	2,153	3,209
Total deferred tax liabilities	31,672	37,442
Total net deferred tax liabilities	$ (2,915)	$ (7,048)

Supplementary Information - Schedule of Other (Income) Expense, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Supplementary Information Schedule Of Other Expense Income Net Detail [Abstract]
Interest income	$ (16,855)	$ (4,127)	$ (541)
Foreign exchange (gain) loss	(1,637)	4,405	1,103
Expense on repurchase of convertible senior notes	0	16,621	0
Other (income) expense, net	$ (18,492)	$ 16,899	$ 562

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Components of Income (Loss) Before Income Taxes

The components of income (loss) before income taxes are as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
U.S.	$	(21,803	)	$	(62,702	)	$	(27,850	)
Non-U.S.		34,422			34,489			27,562
	$	12,619		$	(28,213	)	$	(288	)

Schedule of Significant Components of Income Tax Expense

The significant components of the income tax expense are as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
Current
U.S. Federal	$	—		$	—		$	—
Non-U.S.		22,746			18,759			9,781
U.S. State and Local		1,118			621			227
Total current		23,864			19,380			10,008
Deferred
U.S. Federal		35			23			26
Non-U.S.		(2,384	)		(4,206	)		(1,550	)
U.S. State and Local		30			19			22
Total deferred		(2,319	)		(4,164	)		(1,502	)
Income tax expense	$	21,545		$	15,216		$	8,506

Reconciliation of Income Taxes Calculated at U.S. Federal Statutory Income Tax Rate

The reconciliation of income taxes calculated at the U.S. Federal statutory income tax rate to income tax expense is as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
U.S. federal statutory rate		21	%		21	%		21	%
Income taxes at U.S. federal statutory rate	$	2,650		$	(5,925	)	$	(60	)
Foreign income taxes at rates other than the federal statutory rate		1,733			2,249			2,950
U.S. state and local income taxes, net of U.S. federal tax benefit		(1,952	)		(5,976	)		(4,826	)
U.S. effect of foreign operations		(9,931	)		15,827			1,827
Change in valuation allowance		29,849			7,830			20,212
Foreign withholding taxes		7,444			6,738			(4,545	)
U.S. foreign tax credit and deduction		(17,522	)		(12,315	)		(288	)
Research and development tax credit		391			(326	)		(784	)
Stock-based compensation		1,361			8,649			(12,791	)
Other		123			1,250			753
Uncertain tax positions		6,370			472			6,058
FDII deduction		(169	)		(5,245	)		—
Mark-to-market adjustment of contingent consideration		1,198			(1,502	)		—
Repurchase of convertible senior notes		—			3,490			—
Income tax expense	$	21,545		$	15,216		$	8,506

The Tax Cuts and Jobs Act, or the Tax Act, subjects a U.S. shareholder to current tax on global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries. The impact of GILTI resulted in no incremental tax expense for the years ended December 31, 2023, 2022 and 2021 due to a full valuation allowance on U.S. net deferred tax assets. In addition, the Company has made an accounting policy election to treat taxes due under the GILTI provision as a current period expense.

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities result from differences in the basis of assets and liabilities for tax and financial statements purposes. The approximate tax effect of each type of temporary difference, and operating losses and tax credit carryforwards that give rise to a significant portion of the deferred tax assets and liabilities are as follows (in thousands):


	December 31,
	2023			2022
Deferred tax assets:
Deferred revenue	$	9,730		$	18,571
Net operating loss carryforwards		60,702			64,091
Tax credit carryforwards		48,752			24,319
Stock-based compensation		12,011			8,312
Capitalized research and development		58,946			43,860
Lease obligation		7,517			8,810
Employee benefits		6,955			5,941
Other		3,910			5,931
Total gross deferred tax assets		208,523			179,835
Less: valuation allowances		(179,766	)		(149,441	)
Net deferred tax assets (1)		28,757			30,394
Deferred tax liabilities:
Prepaid royalties		3,602			—
Property and equipment and intangibles		16,610			24,155
Deferred tax on investment in subsidiary		1,950			1,500
Lease right of use asset		7,357			8,578
Other		2,153			3,209
Total deferred tax liabilities		31,672			37,442
Total net deferred tax liabilities	$	(2,915	)	$	(7,048	)

(1)

Reflects gross amount before jurisdictional netting of deferred tax assets and liabilities.

Summary of Changes to Valuation Allowance Balance

The following table summarizes the changes to the valuation allowance balance (in thousands):


	Year ended December 31,
	2023			2022		2021
Beginning balance	$	149,441		$	119,981	$	96,831
Additions charged to expense		30,665			7,830		20,212
Deductions		(816	)		—		—
Other		476			21,630		2,938
Ending balance	$	179,766		$	149,441	$	119,981

Summary of Operating Loss and Tax Credit Carryforwards

The following table summarizes the amount and expiration dates of operating loss and tax credit carryforwards as of December 31, 2023 (in thousands):


	Expiration dates	Amounts
U.S. general business credits and loss carryforwards	2024-Indefinite	$	64,426
Foreign general business credits and loss carryforwards	2024-Indefinite		15,711
U.S. foreign tax credits	2027 - 2032		29,317
Total operating loss and tax credit carryforwards		$	109,454

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
Unrecognized tax benefits—January 1	$	28,977		$	16,376		$	8,310
Additions for tax positions of current period		9,435			50			1,042
Additions for tax positions of prior periods		901			13,910			8,983
Reductions for tax positions of prior periods		(500	)		(1,334	)		(1,934	)
Reductions due to statute of limitations		(594	)		(25	)		(25	)
Unrecognized tax benefits—December 31	$	38,219		$	28,977		$	16,376

Supplementary Information - Schedule of Accounts Receivable Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Supplementary Information [Abstract]
Accounts receivable, trade	$ 185,275	$ 163,989
Contract assets	5,186	6,290
Accounts receivable, net	$ 190,461	$ 170,279

Consolidated Statement of Changes in Stockholders' Equity (Deficit) - 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 (Loss)	(8,794)						(8,794)
Issuance of common stock in private placement, net of issuance costs	199,872		$ 1		199,871
Issuance of common stock in private placement, net of issuance costs (in shares)			2,936
Issuance of common stock for acquisitions	3,690				3,690
Issuance of common stock for acquisitions (in shares)			155
Exercise of stock options	2,262				2,262
Exercise of stock options (in shares)			1,478
Vesting of restricted stock (in shares)			373
Conversion from Class B to Class A common stock			2,366	(2,366)
Stock-based compensation	43,734				43,734
Foreign currency translation, net of tax	(7,254)								(7,254)
Retirement related benefit plans, net of tax	1,101								1,101
Ending balance at Dec. 31, 2021	613,197		$ 5	$ 3	724,226		(102,087)		(8,950)
Ending balance (in shares) at Dec. 31, 2021			51,524	27,745
Net Income (Loss)	(43,429)						(43,429)
Settlement of convertible senior notes	(29,756)				(29,756)
Repurchase and retirement of common stock, Shares			(461)
Repurchase and retirement of common stock					(21,658)
Reclassification of mezzanine equity to permanent equity	784				784
Issuance of common stock for acquisitions	224				224
Issuance of common stock for acquisitions (in shares)			111
Issuance of common stock for employee stock purchase program (in shares)			185
Issuance of common stock for employee stock purchase program	8,723				8,723
Exercise of stock options	3,577				3,577
Exercise of stock options (in shares)			440
Vesting of restricted stock (in shares)			478
Stock-based compensation	85,196				85,196
Foreign currency translation, net of tax	(24,084)								(24,084)
Retirement related benefit plans, net of tax	3,032								3,032
Ending balance at Dec. 31, 2022	569,736	$ (26,070)	$ 5	$ 3	721,307	$ (50,009)	(121,577)	$ 23,939	(30,002)
Ending balance (in shares) at Dec. 31, 2022			52,277	27,745
Net Income (Loss)	(8,926)						(8,926)
Repurchase and retirement of common stock, Shares			(91)
Repurchase and retirement of common stock	(4,256)				4,256
Issuance of common stock for acquisitions	17,570				17,570
Issuance of common stock for acquisitions (in shares)			349
Issuance of common stock for employee stock purchase program (in shares)			183
Issuance of common stock for employee stock purchase program	7,793				7,793
Exercise of stock options	36,140				36,140
Exercise of stock options (in shares)			1,052
Vesting of restricted stock (in shares)			539
Conversion from Class B to Class A common stock			931	(931)
Stock-based compensation	85,581				85,581
Foreign currency translation, net of tax	9,011								9,011
Retirement related benefit plans, net of tax	(1,318)								(1,318)
Ending balance at Dec. 31, 2023	$ 711,331		$ 5	$ 3	$ 864,135		$ (130,503)		$ (22,309)
Ending balance (in shares) at Dec. 31, 2023			55,240	26,814

Revenue from Contracts with Customers - Additional Information (Detail)1	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-31
Revenue From Contracts With Customers [Line Items]
Revenue, remaining contractual obligation, expected to recognize, period	12 months

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

16. Commitments and contingencies

World Programming

The Company acquired World Programming Limited and a related company (collectively, “World Programming”) in December 2021.

In 2018, SAS Institute, Inc. (“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. On April 6, 2023, the Court of Appeals issued its decision in favor of World Programming by affirming the Texas Court’s dismissal of SAS’s copyright claims. On September 3, 2023, the Company was notified that SAS elected not to file its petition for a writ of certiorari within the period in which SAS was eligible to file such petition. With such period having expired, the judgment of the Texas Court in favor of World Programming is now final and closed.

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.

Commitments

The Company has entered into various renewable, nonexclusive license agreements under which the Company has been granted access to the licensor’s technology and the right to sell or use the technology in the Company’s products. Royalties are payable to developers of the software at various rates and amounts, which generally are based upon unit sales or revenue. Royalty fees were $12.2 million, $11.7 million, and $10.9 million for the years ended December 31, 2023, 2022 and 2021, respectively, and are reported in Cost of revenue—software.

Additionally, the Company has current contractual purchase obligations for services supporting business operations, including non-cancelable agreements. The future purchase obligations for these agreements are as follows (in thousands):


Year ending December 31,
2024	$	17,030
2025		15,389
2026		7,126
2027		484
2028		61
Thereafter		—
Total	$	40,090

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING ACTIVITIES:
Net loss	$ (8,926)	$ (43,429)	$ (8,794)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	39,124	35,504	25,644
Amortization of debt discount and issuance costs	1,869	1,792	11,428
Stock-based compensation expense	85,581	84,787	44,549
Deferred income taxes	(2,319)	(4,164)	(1,502)
Loss(Gain) on Mark-to-Market Adjustment of Contingent Consideration	5,706	(7,153)	0
Expense on repurchase of convertible senior notes	0	16,621	0
Other, net	74	387	1,271
Changes in assets and liabilities:
Accounts receivable	(19,141)	(34,175)	(15,645)
Prepaid expenses and other current assets	(1,915)	1,014	(9,026)
Other long-term assets	(52)	2,852	(6,682)
Accounts payable	(1,878)	3,771	(3,857)
Accrued compensation and benefits	1,783	280	7,761
Other accrued expenses and current liabilities	9,068	(59,463)	6,365
Deferred revenue	18,333	40,946	10,111
Net cash provided by operating activities	127,307	39,570	61,623
INVESTING ACTIVITIES:
Capital expenditures	(10,193)	(9,648)	(7,849)
Payments for acquisition of businesses, net of cash acquired	(3,236)	(134,541)	(53,983)
Other investing activities, net	(2,423)	(10,322)	(650)
Net cash used in investing activities	(15,852)	(154,511)	(62,482)
FINANCING ACTIVITIES:
Proceeds from the exercise of common stock options	36,140	3,577	2,262
Proceeds from employee stock purchase plan contributions	7,978	8,976	4,222
Payments for repurchase and retirement of common stock	(6,255)	(19,659)	0
Proceeds from issuance of convertible senior notes, net of underwriters' discounts and commissions	0	224,265	0
Repurchase of convertible senior notes	0	(192,422)	0
Payments for issuance costs of convertible senior notes	0	(1,523)	0
Proceeds from private placement of common stock	0	0	200,000
Payments on revolving commitment	0	0	(30,000)
Other financing activities	(97)	(233)	(537)
Net cash provided by financing activities	37,766	22,981	175,947
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1,397	(5,094)	(2,623)
Net increase (decrease) in cash, cash equivalents and restricted cash	150,618	(97,054)	172,465
Cash, cash equivalents and restricted cash at beginning of year	316,958	414,012	241,547
Cash, cash equivalents and restricted cash at end of period	467,576	316,958	414,012
Supplemental disclosures of cash flow:
Interest paid	4,242	2,425	633
Income taxes paid	11,291	8,941	9,168
Supplemental disclosure of non-cash investing and financing activities:
Issuance of common stock in connection with acquisitions	17,570	224	3,690
Promissory notes issued and deferred payment obligations for acquisitions and investments	3,201	1,350	86,936
Property and equipment in accounts payable and other current liabilities	1,019	659	1,056
Finance leases	$ 0	$ 0	$ 9

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total revenue	$ 612,701	$ 572,221	$ 532,179
Total cost of revenue	121,791	122,889	129,666
Gross profit	490,910	449,332	402,513
Operating expenses
Research and development	212,645	202,542	167,341
Sales and marketing	176,138	163,884	141,484
General and administrative	70,887	72,288	66,474
Amortization of intangible assets	30,851	27,510	18,357
Other operating expense (income), net	146	(9,955)	(3,482)
Total operating expenses	490,667	456,269	390,174
Operating income (loss)	243	(6,937)	12,339
Interest expense	6,116	4,377	12,065
Other (income) expense, net	(18,492)	16,899	562
Income (loss) before income taxes	12,619	(28,213)	(288)
Income tax expense	21,545	15,216	8,506
Net loss	$ (8,926)	$ (43,429)	$ (8,794)
Loss per share:
Net loss per share attributable to common stockholders, basic	$ (0.11)	$ (0.55)	$ (0.12)
Net loss per share attributable to common stockholders, diluted	$ (0.11)	$ (0.55)	$ (0.12)
Weighted average shares outstanding:
Weighted average number of shares used in computing net loss per share, basic	80,596	79,472	76,179
Weighted average number of shares used in computing net loss per share, diluted	80,596	79,472	76,179
Total Software and Related Services [Member]
Total revenue	$ 578,006	$ 537,169	$ 485,569
Total cost of revenue	93,012	94,301	90,996
License [Member]
Total revenue	393,144	363,520	324,808
Total cost of revenue	15,088	20,497	19,929
Maintenance and Other Services [Member]
Total revenue	156,830	142,988	128,938
Total cost of revenue	56,094	51,946	47,862
Total Software [Member]
Total revenue	549,974	506,508	453,746
Total cost of revenue	71,182	72,443	67,791
Software Related Services [Member]
Total revenue	28,032	30,661	31,823
Total cost of revenue	21,830	21,858	23,205
Client Engineering Services [Member]
Total revenue	29,497	28,883	39,282
Total cost of revenue	24,450	23,577	31,710
Other [Member]
Total revenue	5,198	6,169	7,328
Total cost of revenue	$ 4,329	$ 5,011	$ 6,960

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Line Items]
U.S. Federal statutory income tax rate	21.00%	21.00%	21.00%
Gross unrecognized tax benefits recognized would affect the effective tax rate	$ 15,000
Reduction in unrecognized tax benefits which if recognized would not impact effective tax rate in next 12 months	500
Accrued interest and penalties related to unrecognized tax benefits	1,200	$ 1,000	$ 1,000
Valuation Allowance of Deferred Tax Assets [Member]
Income Tax Disclosure [Line Items]
Valuation allowance in other	476	21,630	2,938
Issuance of Convertible Debt [Member]
Income Tax Disclosure [Line Items]
Valuation allowance in other		6,800
Currency Translation [Member]
Income Tax Disclosure [Line Items]
Valuation allowance in other	$ 500
World Programming [Member]
Income Tax Disclosure [Line Items]
Valuation allowance in other			$ 2,900
Rapid Miner [Member]
Income Tax Disclosure [Line Items]
Valuation allowance in other		13,100
Rapid Miner [Member] \| Valuation Allowance of Deferred Tax Assets [Member]
Income Tax Disclosure [Line Items]
Valuation allowance in other		$ 21,600

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Principles of consolidation

The accompanying consolidated financial statements have been prepared using accounting principles generally accepted in the United States of America (“GAAP”). The consolidated financial statements include the results of the Company and its controlled subsidiaries. Intercompany accounts and transactions have been eliminated in the consolidated financial statements.

Change in Classification of Indirect Costs

Beginning in the first quarter of 2023, the Company refined its classification of certain indirect costs to reflect the way management is now reviewing the information in decision making and to improve comparability with peers. These indirect costs include certain IT, facilities, and depreciation expenses that were previously reported primarily in General and administrative expense. These indirect costs have now been reclassified to Research and development, Sales and marketing, and General and administrative expenses based on global headcount. Management believes this refined methodology better reflects the nature of the costs and financial performance of the Company.

As a result, the Company’s consolidated statements of operations have been recast for prior periods presented to reflect the effects of the changes to Research and development, Sales and marketing, and General and administrative expense. There was no net impact to total operating expenses, income from operations, net income or net income per share for any periods presented. The consolidated balance sheets, consolidated statements of comprehensive income, consolidated statements of changes in stockholders’ equity, and the consolidated statements of cash flows were not affected by changes in the presentation of these costs.

The following table summarizes the changes made to the consolidated statement of operations for the years ended December 31, 2022 and 2021 (in thousands):


	Year ended December 31, 2022						Year ended December 31, 2021
	Previously Reported			Recast			Previously Reported			Recast
Operating expenses:
Research and development	$	185,863		$	202,542		$	151,049		$	167,341
Sales and marketing		155,245			163,884			132,750			141,484
General and administrative		97,606			72,288			91,500			66,474
Amortization of intangible assets		27,510			27,510			18,357			18,357
Other operating income, net		(9,955	)		(9,955	)		(3,482	)		(3,482	)
Total operating expenses	$	456,269		$	456,269		$	390,174		$	390,174

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, the incremental borrowing rate used in the valuation of lease liabilities, fair value of convertible senior notes, provision for expected credit losses, 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.

Foreign currency translation

The functional currency of the Company’s foreign subsidiaries is their respective local currency. The assets and liabilities of the subsidiaries are translated to U.S. dollars at the exchange rate as of the balance sheet date. Equity balances and transactions are translated using historical exchange rates. Revenues and expenses are translated at the average exchange rate during the period. Translation adjustments arising from the use of differing exchange rates from period to period are recorded as a component of accumulated other comprehensive loss within stockholders’ equity.

All assets and liabilities denominated in a currency other than the functional currency are remeasured into the functional currency with gains and losses recognized in foreign currency losses, net, in the consolidated statements of operations. The Company has no transactions which hedge purchase commitments and no intercompany balances which are designated as being of a long-term investment in nature.

Revenue recognition

Software revenue

Revenue is derived principally from the licensing of software products and from related maintenance contracts. The Company enters into contracts that include combinations of products, maintenance and services, which are accounted for as separate performance obligations with differing revenue recognition patterns.

Revenue from term-based software licenses is classified as software revenue. Term-based licenses are sold only as a bundled arrangement that includes the rights to a term-based software license and post-contract customer support (PCS), which includes unspecified technical enhancements and customer support. Maximizing the use of observable inputs, the Company determined that a majority of the estimated standalone selling prices of the term-based license is attributable to the term-based license and a minority is attributable to the PCS. The license component is classified as license revenue and recognized as revenue upon the later of delivery of the licensed product or the beginning of the license period. PCS is classified as maintenance and other services and is recognized ratably over the term of the contract, as the Company provides the PCS benefit over time as a stand ready to perform obligation.

In addition to term-based software licenses, the Company sells perpetual licenses. Software revenue is recognized upon the later of delivery of the licensed product or the beginning of the license period. Typically, the Company’s perpetual licenses are sold with PCS. The Company allocates value in bundled perpetual and PCS arrangements based on the value relationship between the software license and maintenance. Revenue from PCS is classified as maintenance and other services and is recognized ratably over the term of the contract, as the Company satisfies the PCS performance obligation over time as a stand ready to perform obligation.

Revenue from training, consulting and other services is recognized as the services are performed and is classified as maintenance and other services in the consolidated statement of operations. For contracts in which the service consists of a single performance obligation, such as providing a training class to a customer, the Company recognizes revenue upon completion of the performance obligation. For service contracts that are longer in duration and often include multiple performance obligations (for example, point-in-time training and consulting), the Company measures the progress toward completion of the obligations and recognizes revenue accordingly. In measuring progress towards the completion of performance obligations, the Company typically utilizes output-based estimates for services with fixed fee arrangements, and estimates output based on the total tasks completed as compared to the total tasks required for each contract. Input-based estimates are utilized for services that involve general consultations with contractual billing arrangements based on time and materials, utilizing direct labor as the input measure.

The Company also executes arrangements through indirect channel partners in which the channel partners are authorized to market and distribute the Company's software products to end users of the Company's products and services in specified territories. In sales facilitated by channel partners, the channel partner bears the risk of collection from the end-user customer. The Company recognizes revenue from transactions with channel partners in a manner consistent with the direct sales described above for both perpetual and term-based licenses. Revenue from channel partner transactions is the amount remitted to the Company by the channel partners. This amount includes a fee for PCS that is compensation for providing technical enhancements and the second level of technical support to the end user, which is recognized over the period that PCS is to be provided. The Company does not offer right of return, product rotation, or price protection to any of its channel partners.

Non-income related taxes collected from customers and remitted to governmental authorities are recorded on the consolidated balance sheets as accounts receivable, net and other accrued expenses and current liabilities. These amounts are reported on a net basis in the consolidated statements of operations and do not impact reported revenues or expenses. Certain hardware revenue is included within software revenue and is recognized when all revenue recognition criteria stated above are met, which is generally when the products are delivered to end customers.

Software related services

Consulting services from product design and development projects are considered distinct performance obligations and are provided to customers on a time-and-materials (“T&M”) or fixed-price basis. The Company recognizes software services revenue for T&M contracts based upon hours worked and contractually agreed upon hourly rates using the input method. Revenue from fixed-price engagements is recognized using the output method based on the ratio of costs incurred to total estimated project costs.

Client engineering services

Client engineering services revenue are derived from professional services for staffing primarily representing engineers and data scientists located at a customer site. These professional services are considered distinct performance obligations and are provided to customers on a T&M basis. The Company recognizes this revenue for T&M contracts based upon hours worked and contractually agreed upon hourly rates using the input method.

Other

Other revenue includes product revenue from the sale of LED products primarily for the replacement of fluorescent tubes. Revenue from the sale of LED products is recognized when all revenue recognition criteria stated above are met, which is generally when the products are delivered to resellers or to end customers. Sales returns, which reduce revenue, are estimated using historical experience.

Property and equipment, net

Property and equipment are stated at cost, less accumulated depreciation and amortization. Equipment held under capital leases are stated at the present value of minimum lease payments less accumulated amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets.

Expenditures for maintenance and repairs are charged to expense in the period incurred. Major expenditures for betterments are capitalized when they meet the criteria for capitalization. When assets are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of operations in the period realized.

Building and improvements are depreciated over an estimated useful life of five to thirty-nine years. Computer equipment and software is depreciated over an estimated useful life of three to five years. Office furniture and equipment is depreciated over an estimated useful life of five to fifteen years. Leasehold improvements and assets acquired under capital leases are amortized over the lease term or the estimated useful life of the related asset or improvement, whichever is shorter.

Software development costs

Software development costs incurred prior to the establishment of technological feasibility are expensed as incurred. Technological feasibility is established upon the completion of a detailed program design. Capitalization of software development costs may begin upon the establishment of technological feasibility and ends when the product is available for general release. Generally, the time between the establishment of technological feasibility and commercial release of software is short. As such, all internal software development costs have been expensed as incurred and included in research and development expense in the accompanying consolidated statements of operations.

Impairment of long-lived assets

Long-lived assets, such as property and equipment, and definite-lived intangible assets, including developed technology and customer relationships, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company compares the undiscounted future cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment charge is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models and third-party independent appraisals. No impairment losses were recognized in 2023, 2022, or 2021.

Goodwill and other indefinite-lived intangible assets

Goodwill represents the excess of the consideration transferred for an acquired entity over the estimated fair values of the net tangible assets and the identifiable assets acquired. As described in Note 4 – Acquisitions, the Company has recorded goodwill in connection with certain acquisitions. Goodwill and other indefinite-lived intangible assets are not amortized, but rather are reviewed for impairment annually or more frequently if facts or circumstances indicate that the carrying value may not be recoverable.

The Company has determined that there is one reporting unit with goodwill subject to goodwill impairment testing. An entity has the option to perform a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount prior to performing the quantitative two-step impairment test.

The Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount prior to performing the quantitative two-step impairment test. The qualitative assessment evaluates various events and circumstances, such as macro-economic conditions, industry and market conditions, cost factors, relevant events and financial trends that may impact a reporting unit’s fair value. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill, then additional impairment testing is not required. However, if an entity concludes otherwise, then it is required to perform the two-step goodwill impairment test.

The impairment test involves comparing the estimated fair value of a reporting unit with its book value, including goodwill. If the estimated fair value exceeds book value, goodwill is considered not to be impaired. If, however, the fair value of the reporting unit is less than book value, then an impairment loss is recognized in an amount equal to the amount that the book value of the reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to the reporting unit.

The Company performs its annual impairment review of goodwill in the fourth quarter of each year and when a triggering event occurs between annual impairment dates. For 2023, the Company performed a qualitative assessment of goodwill and determined that it was not more likely than not that the fair value of its reporting unit with goodwill was less than its carrying amount. Accordingly, the Company determined that its goodwill was not impaired.

The Company performs its annual impairment review of indefinite-lived intangibles in the fourth quarter of each year and when a triggering event occurs between annual reporting dates. In 2023, the Company performed a qualitative assessment of indefinite-lived trade names and determined there was no indication of impairment. Accordingly, no impairment charges were recognized in 2023.

Government assistance

The Company receives incentives from federal, state and local governments in different regions of the world to primarily encourage the Company to establish, maintain, or increase investment or employment in the region. Government incentives are recorded in the consolidated financial statements in accordance with their purpose as a reduction of expense or other income based on the substance of the incentive received. Benefits are generally recorded when the conditions of the grant are met, there is reasonable assurance of receipt and amounts are recorded in earnings as the expenses in which the incentive is meant to offset are incurred. For the years ended December 31, 2023 and 2022, respectively, other operating income includes $5.6 million and $3.0 million of government related funding.

Receivable for R&D credit

The French government provides a research and development (“R&D”) tax credit known as Credit Impôt Recherche, or CIR, in order to encourage Companies to invest in R&D. The tax credit is deductible from the French income tax and any excess is carried forward for three years. After three years, any unused credit may be reimbursed to the Company by the French government. As of December 31, 2023, the Company had approximately $12.1 million receivables from the French government related to CIR, of which $5.7 million was recorded in Income tax receivable and the remaining $6.4 million was recorded in Other long-term assets. As of December 31, 2022, the Company had approximately $10.0 million receivables from the French government related to CIR, of which $3.1 million was recorded in Income tax receivable and the remaining $6.9 million was recorded in Other long-term assets. CIR is subject to customary audit by the French tax authorities.

Other Investments

Other investments include non-marketable equity investments in privately held companies, which do not have readily determinable fair values, and in which the Company does not have a controlling interest or significant influence. The Company applies the measurement alternative for non-marketable equity securities, measuring them at cost, less any impairment. These investments are presented within other long-term assets on our consolidated balance sheets and are periodically analyzed to determine whether there are indicators of impairment.

Income taxes

The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company records net deferred tax assets to the extent it believes that these assets will more likely than not be realized. These deferred tax assets are subject to periodic assessments as to recoverability and if it is determined that it is more likely than not that the benefits will not be realized, valuation allowances are recorded which increase the provision for income taxes. In making such determination, the Company considers all available positive and negative evidence, including historical taxable income, projected future taxable income, the expected timing and reversal of existing temporary differences, ability to carryback losses, and tax planning strategies. If based upon the evidence, it is more likely than not that the deferred tax asset will not be realized, a valuation allowance is recorded. A valuation allowance is recognized to reduce deferred tax assets to the amount that management believes is more likely than not to be realized.

The Company applies a more-likely-than-not recognition threshold to its accounting for tax uncertainties. The Company reviews all of its tax positions and makes determinations as to whether its tax positions are more likely than not to be sustained upon examination by the relevant taxing authorities. Only those benefits that have a greater than fifty percent likelihood of being sustained upon

examination by taxing authorities are recognized. Interest and penalties related to uncertain tax positions are recorded in the provision for income taxes in the consolidated statements of operations.

Research and development costs

Research and development costs are expensed as incurred. Research and development expenses consist primarily of salaries and benefits of research and development employees and costs incurred related to the development of new software products and significant enhancements and engineering changes to existing software products.

Advertising costs

Advertising costs are expensed as incurred. Advertising expenses were $5.1 million, $5.0 million and $4.3 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Assets held for sale

Assets held for sale are reported at the lower of the carrying amount or fair value less costs to sell. Depreciation expense is not recognized on assets held for sale. As of December 31, 2022, an office building in Korea and related assets of $2.7 million were classified as held for sale and presented in Prepaid expenses and other current assets. The sale of the building was finalized in February 2023.

Leases

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, current portion of operating lease liabilities, and operating lease liabilities, net of current portion on the Company’s consolidated balance sheets.

Stock-based compensation

Employee stock-based awards, consisting of stock options, restricted stock units (RSUs) and employee stock purchase plan (ESPP) shares expected to be settled by issuing shares of Class A common stock, are recorded as equity awards. The fair value of stock options and ESPP shares on the date of grant is measured using the Black-Scholes option pricing model. The Company expenses the grant date fair value of its time-vested stock options subject to graded vesting using the straight-line method over the applicable service period. The Company expenses the fair value of ESPP shares over the offering period. The fair value of RSUs is measured using the fair value of the Company’s Class A common stock on the date of the grant. The fair value of RSUs is recognized as expense on a straight-line basis over the requisite service period, which is generally four years.

Business combinations

The Company accounts for business acquisitions using the acquisition method of accounting. The fair value of purchase consideration of the acquired businesses is allocated to the identifiable tangible and intangible assets acquired and liabilities assumed in the transaction based upon their estimated fair values as of the acquisition date. The excess of the purchase price over those fair values is recorded as goodwill. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations.

Recent accounting guidance

Accounting standards not yet adopted

Reference Rate Reform – In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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. In October 2022, the FASB Board voted to amend the sunset date of ASU 2020-04 to December 31, 2024. 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.

Segment Reporting – In November 2023, the FASB issued ASU 2023-07 Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures. The update is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (CODM), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. The ASU also requires all annual disclosures currently required by Topic 280 to be included in interim periods. The update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted and requires retrospective application to all prior periods presented in the financial statements. The Company is currently evaluating the impact of adopting the updated standard.

Income Taxes – In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which updates income tax disclosures related to the tax rate reconciliation and requires disclosure of income taxes paid by jurisdiction. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied prospectively; however, retrospective application is permitted. The Company is currently evaluating this ASU to determine the effect on its related disclosures.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (8,926)	$ (43,429)	$ (8,794)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
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-Name Accounting Standards Codification
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-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 28
-Subparagraph (f)
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-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Section 50
-Paragraph 1
-Subparagraph (b)(2)
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Paragraph 8
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
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+ Details

Debt - Schedule of Interest Expense Related to 2027 and 2024 Notes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Amortization of debt issuance cost and discount	$ 1,869	$ 1,792	$ 11,428
Convertible Senior Notes Due in 2024 and 2027 [Member]
Debt Instrument [Line Items]
Contractual interest expense	4,230	2,452	575
Amortization of debt issuance cost and discount	1,806	1,745	11,405
Total	$ 6,036	$ 4,197	$ 11,980

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Supplementary Information

12 Months Ended

Dec. 31, 2023

Supplementary Information [Abstract]

Supplementary Information

5. 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 statements of cash flows (in thousands):


	December 31,
	2023		2022
Cash and cash equivalents	$	467,459	$	316,146
Restricted cash included in other long-term assets		117		812
Total cash, cash equivalents, and restricted cash	$	467,576	$	316,958

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.

Accounts receivable, net

Accounts receivable, net consisted of the following (in thousands):


	December 31,
	2023		2022
Accounts receivable, trade	$	185,275	$	163,989
Contract assets		5,186		6,290
Accounts receivable, net	$	190,461	$	170,279

A provision for expected credit losses for groups of billed and unbilled receivables and contract assets that share similar risk characteristics is recorded based on an evaluation of historical loss experience, current conditions, and reasonable and supportable forecasts. Accounts are written off when it becomes apparent that such amounts will not be collected, generally when amounts are past due by greater than one year. Generally, the Company does not require collateral or charge interest on accounts receivable. Accounts

receivable were reported net of a provision for credit loss of $2.9 million and $2.6 million at December 31, 2023 and 2022, respectively. Activity in the provision for credit loss was as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
Balance, beginning of year	$	(2,590	)	$	(2,539	)	$	(2,559	)
Provision charged to expense		(299	)		(203	)		(514	)
Write-off, net of recoveries		6			498			500
Effects of foreign currency translation		(58	)		(346	)		34
Balance, end of year	$	(2,941	)	$	(2,590	)	$	(2,539	)

Property and equipment, net

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


	Estimated			December 31,
	useful lives			2023		2022
Land	Indefinite			$	8,376	$	7,994
Building and improvements	5-39 years				17,528		16,995
Computer equipment and software	3-5 years				45,678		45,340
Office furniture and equipment	5-15 years				14,402		15,457
Leasehold improvements		(1	)		8,380		8,766
Total property and equipment					94,364		94,552
Less: accumulated depreciation and amortization					54,561		57,035
Property and equipment, net				$	39,803	$	37,517

(1)

Shorter of lease term or estimated useful life, generally ranging from five to ten years.

Depreciation expense was $8.3 million, $8.0 million and $7.3 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Other liabilities

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


	December 31,
	2023		2022
Income taxes payable	$	12,239	$	11,524
Accrued VAT		8,710		8,402
Employee stock purchase plan obligations		4,155		3,969
Obligations related to acquisition of businesses		3,286		13,136
Customer advances		2,700		921
Non-income tax liabilities		2,473		2,465
Accrued professional fees		2,436		3,637
Billings in excess of cost		2,385		1,874
Accrued royalties		2,313		2,593
Defined contribution plan liabilities		1,454		1,393
Other current liabilities		6,247		6,457
Total	$	48,398	$	56,371

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


	December 31,
	2023		2022
Income tax reserves	$	16,254	$	10,852
Pension and other post-retirement liabilities		15,815		12,273
Deferred tax liabilities		12,870		16,775
Other liabilities		2,212		1,316
Total	$	47,151	$	41,216

Private placement financing

In September 2021, the Company issued 2,935,564 shares of its Class A common stock in a private placement to Matrix Capital Management Company LP, for aggregate proceeds of $200.0 million. The Company filed a registration statement with the U.S. Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock issued in the private placement declared or deemed effective by the SEC in August 2022.

Restructuring expense

In 2021, the Company initiated a restructuring plan to realign resources with the Company’s current business outlook and cost structure. The restructuring plan resulted in charges for employee termination benefits of $5.1 million for the year ended December 31, 2021. The restructuring costs were attributable primarily to the Software reportable segment. The restructuring plan was completed and all amounts were paid in 2021. There were no restructuring costs for the years ended December 31, 2023 and 2022.

Other (income) expense, net

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


	Year ended December 31,
	2023			2022			2021
Interest income	$	(16,855	)	$	(4,127	)	$	(541	)
Foreign exchange (gain) loss		(1,637	)		4,405			1,103
Expense on repurchase of convertible senior notes		—			16,621			—
Other (income) expense, net	$	(18,492	)	$	16,899		$	562

Segment Information - Schedule of Segment Reporting Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenue	$ 612,701	$ 572,221	$ 532,179
Adjusted EBITDA	129,138	108,600	85,253
Software [Member]
Segment Reporting Information [Line Items]
Revenue	578,006	537,169	485,569
Adjusted EBITDA	129,164	107,638	82,845
CES [Member]
Segment Reporting Information [Line Items]
Revenue	29,497	28,883	39,282
Adjusted EBITDA	2,288	2,576	4,723
All Other [Member]
Segment Reporting Information [Line Items]
Revenue	5,198	6,169	7,328
Adjusted EBITDA	$ (2,314)	$ (1,614)	$ (2,315)

- 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.

+ References

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-Topic 924
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-Section S99
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Changes Made to Consolidated Statement of Operations

The following table summarizes the changes made to the consolidated statement of operations for the years ended December 31, 2022 and 2021 (in thousands):


	Year ended December 31, 2022						Year ended December 31, 2021
	Previously Reported			Recast			Previously Reported			Recast
Operating expenses:
Research and development	$	185,863		$	202,542		$	151,049		$	167,341
Sales and marketing		155,245			163,884			132,750			141,484
General and administrative		97,606			72,288			91,500			66,474
Amortization of intangible assets		27,510			27,510			18,357			18,357
Other operating income, net		(9,955	)		(9,955	)		(3,482	)		(3,482	)
Total operating expenses	$	456,269		$	456,269		$	390,174		$	390,174

Stock-based Compensation - Summary of Fair value of Company's Stock Options Granted (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	35.00%	35.00%	35.00%
Expected term (in years)	6 years 3 months	6 years 3 months	6 years 3 months
Risk-free interest rate, minimum	3.50%	1.70%	1.10%
Risk-free interest rate, maximum	4.30%	4.20%	1.20%
Expected dividend yield	0.00%	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per share	$ 65.19	$ 44.63	$ 61.93
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per share	$ 67.65	$ 64.79	$ 80.06

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Fair value of Company's Stock Options Granted

The fair values of the Company’s stock options granted during the year ended December 31, 2023, 2022 and 2021, were estimated using the following assumptions:


	2023 grants	2022 grants	2021 grants
Weighted average grant date fair value per share	$65.19 - 67.65	$44.63 - 64.79	$61.93 - 80.06
Expected volatility	35%	35%	35%
Expected term (in years)	6.25	6.25	6.25
Risk-free interest rate	3.5% - 4.3%	1.7% - 4.2%	1.1% - 1.2%
Expected dividend yield	0%	0%	0%

Summary of Stock-Based Compensation

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


	Year ended December 31,
	2023		2022		2021
Cost of revenue-software	$	10,095	$	8,351	$	5,619
Research and development		33,842		36,250		16,561
Sales and marketing		28,376		30,370		15,044
General and administrative		13,268		9,816		7,325
Total stock-based compensation expense	$	85,581	$	84,787	$	44,549

NSO Plan [Member]

Summary of Stock Option Activity

The following table summarizes the stock option activity under the NSO Plan:


	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate intrinsic value (in millions)
Outstanding as of December 31, 2022		1,158,260		$	0.000025		14.0
Exercised		(163,376	)	$	0.000025
Outstanding and exercisable as of December 31, 2023		994,884		$	0.000025		13.0	$	83.7

2012 Plan [Member]

Summary of Stock Option Activity

The following table summarizes the stock option activity under the 2012 Plan for the periods indicated as follows:


	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate intrinsic value (in millions)
Outstanding as of December 31, 2022		374,574		$	4.34		3.4
Exercised		(103,215	)	$	4.03
Outstanding and exercisable as of December 31, 2023		271,359		$	4.46		2.5	$	21.6

2017 Plan [Member]

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 December 31, 2022		7,491,491		$	50.39		8.5
Granted		1,017,785		$	65.19
Exercised		(785,550	)	$	45.23
Forfeited		(121,648	)	$	56.85
Outstanding as of December 31, 2023		7,602,078		$	52.81		7.8	$	238.3
Exercisable as of December 31, 2023		3,650,320		$	49.99		6.9	$	124.7

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 December 31, 2022		1,230,774
Granted		423,771
Vested		(538,997	)
Forfeited		(29,197	)
Outstanding as of December 31, 2023		1,086,351

Income Taxes - Significant Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
U.S. Federal	$ 0	$ 0	$ 0
Non-U.S.	22,746	18,759	9,781
U.S. State and Local	1,118	621	227
Total current	23,864	19,380	10,008
Deferred
U.S. Federal	35	23	26
Non-U.S.	(2,384)	(4,206)	(1,550)
U.S. State and Local	30	19	22
Total deferred	(2,319)	(4,164)	(1,502)
Income tax expense	$ 21,545	$ 15,216	$ 8,506

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

8. Leases

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease assets and operating lease obligations on the Company’s consolidated balance sheets.

Right of use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments under the lease. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. At commencement date, the ROU asset also includes adjustments for lease prepayments, lease incentives received and the lessee's initial direct costs, if applicable. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The incremental borrowing rates are determined using rates specific to the term of the lease, economic environments where lease activity is concentrated, value of lease portfolio, and assuming full collateralization of the loans. Subsequent to the commencement date, the operating ROU asset is equal to the remeasured lease liability adjusted for cumulative prepaid or accrued rent if the lease payments are uneven throughout the lease term, unamortized lease incentives, unamortized initial direct costs and any impairment of the ROU assets. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease cost for minimum lease payments is recognized on a straight-line basis over the lease term.

The Company does not recognize a lease liability or ROU asset for short-term leases (leases with a term of twelve months or less). For contracts with lease and non-lease components, the Company does not allocate the contract consideration, and accounts for the lease and non-lease components as a single lease component.

The Company’s operating leases consist of office facilities, office equipment and cars. The Company’s leases have remaining terms of less than one year to 15 years, some of which include one or more options to renew and some of which include options to terminate the leases within the next three years. The Company does not have any finance leases as of December 31, 2023.

Operating lease cost was $13.1 million, $13.4 million and $13.8 million for the years ended December 31, 2023, 2022 and 2021, respectively. Operating lease cost includes short-term leases and variable lease costs, which are immaterial. Rent cost related to operating leases for office facilities was $11.3 million, $11.7 million and $12.2 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Supplemental balance sheet information related to lease liabilities was as follows:


	December 31,
(in thousands, except lease term and discount rate)	2023			2022
Operating leases:
Operating lease ROU assets	$	30,759		$	33,601

Current portion of operating lease liabilities	$	8,825		$	10,396
Operating lease liabilities, net of current portion		22,625			24,065
Total operating lease liabilities	$	31,450		$	34,461

Weighted average remaining lease term		6.0		3.4
Weighted average discount rate		3.9	%		3.8	%

Supplemental cash flow information related to leases was as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(11,606	)	$	(12,949	)	$	(12,058	)
ROU assets obtained in exchange for new operating lease obligations	$	17,023		$	12,455		$	6,577

Maturities of operating lease liabilities as of December 31, 2023, were as follows (in thousands):


Year ending December 31,
2024	$	10,169
2025		7,197
2026		5,789
2027		3,893
2028		2,073
Thereafter		7,988
Total lease payments		37,109
Less: imputed interest		5,659
Total operating lease liabilities	$	31,450

Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

17. 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 Software reportable segment derives revenue from the sale and lease of software licenses and cloud solutions in the areas of simulation, high-performance computing, and artificial intelligence to design and optimize high-performance, efficient, innovative and sustainable products and processes for improved business performance. The software services and software-related services component of this segment includes consulting, implementation services, training, and software-related services focused on product design and development expertise and analysis from the component level up to complete product engineering at any stage of the lifecycle. To a much lesser extent, the Software segment includes revenue from the sale of hardware products.

The Client Engineering Services reportable segment provides support to the Company’s customers with long-term ongoing expertise. The Company hires simulation specialists, industrial designers, design engineers, materials experts, development engineers, manufacturing engineers, data scientists, and information technology specialists for placement at customer sites for specific customer-directed assignments.

The “Other” represents innovative services and products, including Toggled, the Company’s LED lighting business. Toggled is focused on developing and selling next-generation solid state lighting technology along with communication and control protocols based, in part, on intellectual property for the direct replacement of fluorescent tubes with LED lighting. Other businesses combined within Other include potential services and product concepts that are still in their development stages.

Inter-segment sales are not significant for any period presented. The CODM does not review asset information by segment when assessing performance, therefore no asset information is provided for reportable segments. The accounting policies of the segments are the same as those described in Note 2—Summary of significant accounting policies.

The following tables are in thousands:


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


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


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


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

(1)

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


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

(1)

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

Concentrations of credit risk

The Company’s financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash and trade receivables. The risk with respect to trade receivables is partially mitigated by the diversity, both by geography and by industry, of the Company’s customer base. The Company’s accounts receivable is derived from sales to a large number of direct customers and resellers around the world. No individual customer accounted for 10% or more of revenue in the years ended December 31, 2023, 2022 or 2021.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Income Taxes - Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Unrecognized tax benefits-January 1	$ 28,977	$ 16,376	$ 8,310
Additions (reductions) for tax positions of current period	9,435	50	1,042
Additions for tax positions of prior periods	901	13,910	8,983
Reductions for tax positions of prior periods	(500)	(1,334)	(1,934)
Reductions due to statute of limitations	(594)	(25)	(25)
Unrecognized tax benefits—December 31	$ 38,219	$ 28,977	$ 16,376

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ (11,606)	$ (12,949)	$ (12,058)
ROU assets obtained in exchange for new operating lease obligations	$ 17,023	$ 12,455	$ 6,577

Net Loss Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net Loss Per Share

13. Net loss 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 (loss) 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 (loss) 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. The treasury stock method is used to calculate the effect of dilutive securities, stock options, RSUs and ESPP shares and the if-converted method is used to calculate the effect of convertible instruments.

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


	Year ended December 31,
	2023			2022			2021
Numerator:
Net loss	$	(8,926	)	$	(43,429	)	$	(8,794	)
Denominator:
Denominator for basic and diluted loss per share — weighted average shares		80,596			79,472			76,179
Net loss per share attributable to common stockholders, basic and diluted	$	(0.11	)	$	(0.55	)	$	(0.12	)

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


	Year ended December 31,
	2023		2022		2021
Stock options and ESPP		3,293		961		3,425
Convertible shares		3,753		4,958		1,555
Total shares excluded from calculation		7,046		5,919		4,980

Since the Company was in a net loss position for the years ended December 31, 2023, 2022 and 2021, basic net loss per share attributable to common stockholders is the same as diluted net loss per share for those periods as the inclusion of all potential common shares outstanding would have been anti-dilutive.

Stock-based Compensation - Summary of Stock Option Activity under 2017 Plan (Detail) - 2017 Plan [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of options, Outstanding, Beginning Balance	7,491,491
Number of options, Granted	1,017,785
Number of options, Exercised	(785,550)
Number of options, Forfeited	(121,648)
Number of options, Outstanding, Ending Balance	7,602,078	7,491,491
Number of options, Exercisable	3,650,320
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	$ 50.39
Weighted average exercise price per share, Granted	65.19
Weighted average exercise price per share, Exercised	45.23
Weighted average exercise price per share, Forfeited	56.85
Weighted average exercise price per share, Outstanding, Ending Balance	52.81	$ 50.39
Weighted average exercise price per share, Exercisable	$ 49.99
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining contractual term (years), Outstanding	7 years 9 months 18 days	8 years 6 months
Weighted average remaining contractual term (years), Exercisable	6 years 10 months 24 days
Aggregate intrinsic value, Outstanding	$ 238.3
Aggregate intrinsic value, Exercisable	$ 124.7

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

6. Goodwill and other intangible assets

Goodwill

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


Balance as of December 31, 2021	$	370,178
Acquisitions		96,092
Foreign currency translation and other		(17,222	)
Balance as of December 31, 2022		449,048
Acquisitions		2,948
Foreign currency translation and other		6,129
Balance as of December 31, 2023	$	458,125

Other intangible assets

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


	December 31, 2023
	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets:
Developed technology	4-6 years	$	142,368	$	90,729	$	51,639
Customer relationships	7-10 years		58,316		37,779		20,537
Other intangibles	4-10 years		1,459		563		896
Total definite-lived intangible assets			202,143		129,071		73,072
Indefinite-lived intangible assets:
Trade names			10,478				10,478
Total other intangible assets		$	212,621	$	129,071	$	83,550


	December 31, 2022
	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets:
Developed technology	4-6 years	$	135,703	$	67,665	$	68,038
Customer relationships	7-10 years		57,143		29,148		27,995
Other intangibles	4-10 years		1,448		298		1,150
Total definite-lived intangible assets			194,294		97,111		97,183
Indefinite-lived intangible assets:
Trade names			10,426				10,426
Total other intangible assets		$	204,720	$	97,111	$	107,609

Amortization expense related to amortizing intangible assets was $30.9 million, $27.5 million and $18.4 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Estimated amortization expense for the next five years as of December 31, 2023, is as follows (in thousands):


Year ending
December 31, 2024	$	28,835
December 31, 2025		22,103
December 31, 2026		15,920
December 31, 2027		4,689
December 31, 2028		1,286
Thereafter		239
Total	$	73,072

Retirement Benefits - Schedule of Estimated Future Benefit Payments (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
December 31, 2024	$ 1,233
December 31, 2025	974
December 31, 2026	1,500
December 31, 2027	1,323
December 31, 2028	1,229
Next five years	$ 6,949

Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables are in thousands:


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


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


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

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


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

(1)

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


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

(1)

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

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Of Income And Comprehensive Income [Abstract]
Foreign currency translation, tax effect	$ 0	$ 0	$ 0
Retirement related benefit plans, tax effect	$ 177	$ (308)	$ (296)

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net Income (Loss)	$ (8,926)	$ (43,429)	$ (8,794)
Other comprehensive income (loss), net of tax:
Foreign currency translation (net of tax effect of $0 for all periods)	9,011	(24,084)	(7,254)
Retirement related benefit plans (net of tax effect of $177, $(308) and $(296), respectively)	(1,318)	3,032	1,101
Total other comprehensive income (loss)	7,693	(21,052)	(6,153)
Comprehensive income (loss)	$ (1,233)	$ (64,481)	$ (14,947)

- Definition

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

+ References

+ Details

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Supplementary Information - Summary of Property and Equipment (Parenthetical) (Detail)	Dec. 31, 2023
Leasehold Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	5 years
Leasehold Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	10 years
Right-of-Use Assets Under Finance Leases [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	5 years
Right-of-Use Assets Under Finance Leases [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	10 years

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
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	513,796,572	513,797,000
Common stock, shares issued	55,240,000	52,277,000
Common stock, shares outstanding	55,240,000	52,277,000
Class B Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	41,203,428	41,203,000
Common stock, shares issued	26,814,000	27,745,000
Common stock, shares outstanding	26,814,000	27,745,000

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

3. Revenue from contracts with customers

Significant judgments

Software revenue

The Company’s contracts with customers typically include promises to transfer licenses and services to a customer. Judgment is required to determine if the promises are separate performance obligations within the context of the arrangement, and if so, the allocation of the transaction price to each performance obligation. The Company’s determination of standalone selling price for performance obligations is based on the midpoint of the range of historical observable prices for goods and services sold separately. In addition, the Company estimates the standalone selling price for certain performance obligations where observable prices are not directly available, or a significant portion of historical prices are not within the range. In instances where standalone selling price was not determined based on the range of historical observable prices for goods and services sold separately, the Company used an adjusted market assessment approach to estimate the standalone selling price. In such cases the Company has considered market conditions and other observable inputs, such as internal price lists, peer data, and industry data for a similar or identical product or service. The Company estimates standalone selling price at contract inception considering all information that is reasonably available and is based on the amount of consideration for which the Company expects to be entitled in exchange for transferring the promised good or service to the customer. The corresponding revenues are recognized as the related performance obligations are satisfied.

The Company’s contracts do not include a significant financing component requiring adjustment to the transaction price. Payment terms vary by contract type; however, arrangements typically stipulate a requirement for the customer to pay within 30 to 60 days.

The Company rarely enters into agreements to modify previously executed contracts, which constitute contract modifications. The Company assesses each of these contract modifications to determine (i) if the additional products and services are distinct from the products and services in the original arrangement; and (ii) if the amount of consideration expected for the added products and services reflects the stand-alone selling price of those products and services, as adjusted for contract-specific circumstances. A contract modification meeting both criteria is accounted for as a separate contract. A contract modification not meeting both criteria is considered a change to the original contract and is accounted for on either (i) a prospective basis as a termination of the existing contract and the creation of a new contract; or (ii) a cumulative catch-up basis. Generally, the Company’s contract modifications meet both criteria and are accounted for as a separate contract, as adjusted for contract-specific circumstances.

Disaggregation of revenue

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


	Year ended December 31,
	2023		2022		2021
Term licenses and other	$	353,065	$	320,181	$	283,226
Perpetual licenses		40,079		43,339		41,582
Maintenance		148,779		135,752		122,733
Professional software services		8,051		7,236		6,205
Software related services		28,032		30,661		31,823
Client engineering services		29,497		28,883		39,282
Other		5,198		6,169		7,328
Total revenue	$	612,701	$	572,221	$	532,179

The Company derived approximately 13.6%, 13.9% and 12.0% of its total revenue through indirect sales channels for the years ended December 31, 2023, 2022 and 2021, respectively.

Costs to obtain a contract

The Company pays commissions for new software product and PCS sales as well as for renewals of existing software and PCS contracts. Commissions paid to obtain renewal contracts are not commensurate with the commissions paid for new product sales and therefore, a portion of the commissions paid for new contracts relate to future renewals.

The Company accounts for new product sales commissions using a portfolio approach and allocates the cost of commissions in proportion to the allocation of the transaction price of license and PCS performance obligations. Commissions allocated to the license and license renewal components are expensed at the time the license revenue is recognized. Commissions allocated to PCS are capitalized and amortized on a straight-line basis over a period of four years, reflecting the Company’s estimate of the expected period that it will benefit from those commissions. As of December 31, 2023 and 2022, respectively, capitalized costs to obtain a contract were $4.3 million and $3.9 million recorded in Prepaid and other current assets and $0.9 million and $0.4 million recorded in Other long-term assets. Sales commissions were $8.8 million and $8.3 million for the years ended December 31, 2023 and 2022, respectively, and were included in Sales and marketing expense in the Company’s consolidated statements of operations.

Contract assets

As of December 31, 2023 and 2022, respectively, contract assets were $5.2 million and $6.3 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

Deferred revenue consists of billings made or payments received in advance of revenue recognition from software license, PCS and professional services agreements. The timing of revenue recognition may differ from the timing of billings to customers. Payment terms vary by the type and location of customer and the products or services offered. The term between invoicing and when payment is due is not significant. The Company generally invoices its customers annually for the forthcoming year of software licenses, and more frequently for other products and services. Accordingly, the Company’s deferred revenue balance does not include revenue for future years of multiple year non-cancellable contracts that have not yet been billed.

Approximately $106.9 million of revenue recognized during 2023 was included in the deferred revenue balances 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 $251.8 million as of December 31, 2023, of which the Company expects to recognize approximately 66% 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 9
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

11. Stock-based compensation

2001 stock-based compensation plans

Nonqualified stock option plan

In 2001, the Company established the Nonqualified Stock Option Plan (“NSO Plan”) under which 994,884 stock options with an exercise price of $.000025 remain outstanding as of December 31, 2023. The NSO Plan was terminated in 2003. Stock options under the NSO plan were immediately vested and have a contractual term of 35 years from the date of grant. The outstanding awards will continue to be governed by their existing terms under the NSO Plan. The NSO Plan is accounted for as an equity plan.

The following table summarizes the stock option activity under the NSO Plan:


	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate intrinsic value (in millions)
Outstanding as of December 31, 2022		1,158,260		$	0.000025		14.0
Exercised		(163,376	)	$	0.000025
Outstanding and exercisable as of December 31, 2023		994,884		$	0.000025		13.0	$	83.7

The total intrinsic value of the NSO Plan stock options exercised during the years ended December 31, 2023, 2022 and 2021, was $11.5 million, $11.0 million and $78.7 million, respectively.

2012 stock-based compensation plans

During 2012, the Company established the 2012 Incentive and Nonqualified Stock Option Plan (“2012 Plan”) which permits the issuance of 5,200,000 shares of Class A common stock for the grant of nonqualified stock options (“NQSO”) and incentive stock options (“ISO”) for management, other employees, and board members of the Company. The options are issued at a price equal to or greater than fair market value at date of grant. All options have a contractual term of 10 years from date of grant.

The 2012 Plan is accounted for as an equity plan. For those options expected to vest, compensation expense is recognized on a straight-line basis over a four-year period, the total requisite service period of the awards.

The following table summarizes the stock option activity under the 2012 Plan for the periods indicated as follows:


	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term (years)		Aggregate intrinsic value (in millions)
Outstanding as of December 31, 2022		374,574		$	4.34		3.4
Exercised		(103,215	)	$	4.03
Outstanding and exercisable as of December 31, 2023		271,359		$	4.46		2.5	$	21.6

The total intrinsic value of the 2012 Plan stock options exercised during the years ended December 31, 2023, 2022 and 2021, was $6.6 million, $8.5 million and $17.5 million, respectively.

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 and 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. As of December 31, 2023, the Company had 4,965,437 shares of its common stock available for future issuances under the 2017 Plan.

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


	Number of RSUs
Outstanding as of December 31, 2022		1,230,774
Granted		423,771
Vested		(538,997	)
Forfeited		(29,197	)
Outstanding as of December 31, 2023		1,086,351

The weighted average grant date fair value of the RSUs was $65.80 and the RSUs generally vest in four equal annual installments. The fair value of RSUs that vested during the year ended December 31, 2023, was $35.5 million. Total compensation cost related to nonvested awards not yet recognized as of December 31, 2023, was $91.4 million and is expected to be recognized over a weighted average period of 2.1 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 December 31, 2022		7,491,491		$	50.39		8.5
Granted		1,017,785		$	65.19
Exercised		(785,550	)	$	45.23
Forfeited		(121,648	)	$	56.85
Outstanding as of December 31, 2023		7,602,078		$	52.81		7.8	$	238.3
Exercisable as of December 31, 2023		3,650,320		$	49.99		6.9	$	124.7

The total intrinsic value of the 2017 Plan stock options exercised during the years ended December 31, 2023, 2022 and 2021, was $20.7 million, $1.1 million and $0.7 million, respectively.

Fair value of equity awards

The Company measures the fair value of its stock options on the date of grant using the Black-Scholes option pricing model. This valuation model requires the Company to make certain estimates and assumptions, including assumptions related to the expected price volatility of the Company’s stock, the period under which the options will be outstanding, the rate of return on risk-free investments, and the expected dividend yield for the Company’s stock.

The fair values of the Company’s stock options granted during the year ended December 31, 2023, 2022 and 2021, were estimated using the following assumptions:


	2023 grants	2022 grants	2021 grants
Weighted average grant date fair value per share	$65.19 - 67.65	$44.63 - 64.79	$61.93 - 80.06
Expected volatility	35%	35%	35%
Expected term (in years)	6.25	6.25	6.25
Risk-free interest rate	3.5% - 4.3%	1.7% - 4.2%	1.1% - 1.2%
Expected dividend yield	0%	0%	0%

These assumptions and estimates are as follows:

•

Fair Value of Common Stock. The Company used the publicly quoted price as reported on the Nasdaq Global Select Market as the fair value of its common stock.

•

Expected Term. The Company used the simplified method to determine the expected term.

•

Risk-Free Interest Rate. The Company based the risk-free interest rate on U.S. Treasury zero-coupon yield curves with a remaining term equal to the expected term of the option.

•

Expected Volatility. As the Company does not have an extensive trading history for its common stock, the expected volatility was derived using the historical volatility of the returns of comparable publicly traded companies combined with the brief trading history of the Company’s common stock.

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. As of December 31, 2023, the Company had 2,832,220 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.

Each offering period will last a number of months determined by the plan administrator, up to a maximum of 27 months. The initial offering period began on July 15, 2021, and ended on January 14, 2022, and new offering periods are expected to begin on each January 15 and July 15 thereafter, unless modified by the plan administrator. The ESPP allows participants to purchase the Company’s common stock through payroll deductions, up to a maximum of 15% of their eligible compensation or $25,000, whichever is lower, and subject to limitations under Section 423 of the Internal Revenue Code. The plan administrator has limited participant contributions to $1,000 per month to prevent prejudicial advantages to higher compensated employees. Participants may withdraw from the ESPP and receive a refund of their accumulated payroll contributions at any time prior to a purchase date.

The Company issued 182,883 shares and 184,897 shares of common stock under the ESPP during the years ended December 31, 2023 and 2022, respectively. There were no issuances of common stock under the ESPP during the year ended December 31, 2021. As of December 31, 2023 and 2022, $4.2 million and $4.0 million, respectively, has been withheld on behalf of employees for future purchases under the ESPP due to the timing of payroll deductions and was reported in current liabilities. The Company recognized $2.4 million, $2.6 million and $1.2 million of stock-based compensation expense related to the ESPP for the years ended December 31, 2023, 2022, and 2021, respectively.

Other

In connection with the acquisition of World Programming in December 2021, per the World Programming 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 accounting treatment for these shares in the context of the business combination was 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 approximately $29.5 million which is recognized on an accelerated method over the employment period. As of December 31, 2023, the weighted average remaining service period was 1.0 year. Once the vesting conditions of the service period are met, the Company will issue shares for each award. Stock-based compensation expense includes $8.0 million, $17.6 million and $0.7 million for the years ended December 31, 2023, 2022 and 2021, respectively.

In connection with the acquisition of Powersim Inc. in March 2022, per the Powersim stock purchase agreement, 68,792 shares 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 in installments of 34,396 shares on the one- and two-year anniversaries of the closing, subject to potential reduction in certain circumstances. The accounting treatment for these shares in the context of the business combination was to recognize the expense as a post-combination expense, not as transaction consideration. The post combination expense was determined to have a fair value of approximately $4.3 million and is recognized on an accelerated method over the employment period. As of December 31, 2023, the weighted average remaining service period was 0.2 years. Stock-based compensation expense includes $1.4 million and $2.7 million for the years ended December 31, 2023 and 2022, respectively.

In connection with the acquisition of Concept Engineering in June 2022, per the Concept Engineering stock purchase agreement, 105,082 shares 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 in installments of 52,541 shares on the one- and two-year anniversaries of the closing, subject to potential reduction in certain circumstances. The accounting treatment for these shares in the context of the business combination was to recognize the expense as a post-combination expense, not as transaction consideration. The post combination expense was determined to have a fair value of approximately $6.0 million and is recognized on an accelerated method over the employment period. As of December 31, 2023, the weighted average remaining service period was 0.4 years. Stock-based compensation expense includes $2.6 million and $2.7 million for the years ended December 31, 2023 and 2022, respectively.

Stock-based compensation expense

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


	Year ended December 31,
	2023		2022		2021
Cost of revenue-software	$	10,095	$	8,351	$	5,619
Research and development		33,842		36,250		16,561
Sales and marketing		28,376		30,370		15,044
General and administrative		13,268		9,816		7,325
Total stock-based compensation expense	$	85,581	$	84,787	$	44,549

Leases - Schedule of Supplemental Balance Sheet Information Related to Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating leases:
Operating Lease, Right-of-Use Asset	$ 30,759	$ 33,601
Current portion of operating lease liabilities	8,825	10,396
Operating lease liabilities, net of current portion	22,625	24,065
Total operating lease liabilities	$ 31,450	$ 34,461
Weighted average remaining lease term	6 years	3 years 4 months 24 days
Weighted average discount rate	3.90%	3.80%

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2023	Feb. 14, 2024	Jun. 30, 2023
Document And Entity Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	ALTR
Entity Registrant Name	ALTAIR ENGINEERING INC.
Entity Central Index Key	0001701732
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 4.1
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	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 Annual 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
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Detroit, Michigan
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement relating to the 2024 Annual Meeting of Stockholders, scheduled to be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended December 31, 2023, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Class A Common Stock [Member]
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		55,785,000
Class B Common Stock [Member]
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		26,704,000

Debt - Additional Information (Detail)	1 Months Ended			12 Months Ended
Debt - Additional Information (Detail)	Dec. 31, 2023 USD ($) Days $ / shares	Jun. 30, 2022 USD ($)	Jun. 30, 2019 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) Days $ / shares shares	Dec. 31, 2022 USD ($)	Nov. 07, 2022 USD ($)
Debt Instrument [Line Items]
Accumulated deficit	$ (130,503,000)			$ (130,503,000)	$ (121,577,000)
Additional paid-in capital	864,135,000			864,135,000	721,307,000
Convertible senior notes, net	81,455,000			81,455,000	0
Overdraft and Line of Credit [Member]
Debt Instrument [Line Items]
Loan outstanding	0			0	0
Amount available under secured credit agreement	2,400,000			2,400,000	3,100,000
Convertible Senior Notes Due in 2024 [Member]
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount	$ 81,729,000		$ 230,000,000	$ 81,729,000	81,754,000
Debt instrument interest rate	0.25%		0.25%	0.25%
Additional principal amount of notes to underwriters			$ 30,000,000
Net proceeds from issuance of costs			$ 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 interest rate is fixed at 0.25% per year, payable semi-annually in arrears on June 1 and December 1 of each year, which commenced on 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
Debt instrument, convertible, "if-converted value" in excess of the principal amount				66,200,000
Repayments of notes payable				192,400,000
Fair value expense recognized					16,600,000
Debt instrument principal outstanding	81,700,000			81,700,000
Convertible senior notes, net	$ 81,455,000			$ 81,455,000
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
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
Additional paid-in capital	50,000,000			50,000,000
Convertible senior notes, net	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			$ 46.5
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	$ 230,000,000		$ 230,000,000	$ 230,000,000
Debt instrument interest rate	1.75%	1.75%		1.75%
Additional principal amount of notes to initial purchaser's		$ 30,000,000
Net proceeds from issuance of costs		$ 224,300,000
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, which commenced on December 15, 2022.
Debt instrument conversion rate principal amount of notes	$ 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.
Debt instrument, convertible, "if-converted value" in excess of the principal amount				$ 40,000,000
Increase in line of credit borrowing capacity						$ 50,000,000
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
Debt instrument convertible initial conversion price per share of common stock \| $ / shares	$ 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
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, Circumstances 2 [Member]
Debt Instrument [Line Items]
Debt instrument, convertible, consecutive trading days \| Days	5
Twenty Nineteen Credit Agreement
Debt Instrument [Line Items]
Maturity date				Dec. 31, 2025
Credit facility	$ 200,000,000			$ 200,000,000
Increase in unrestricted domestic cash				$ 20,000,000
Twenty Nineteen Credit Agreement \| Federal Funds Effective Swap Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					0.50%
Twenty Nineteen Credit Agreement \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1.00%
Twenty Nineteen Credit Agreement \| Minimum [Member]
Debt Instrument [Line Items]
Commitment fees on unused portion of the Revolving Credit Facility				0.15%
Twenty Nineteen Credit Agreement \| Minimum [Member] \| Term Benchmark Loans [Member]
Debt Instrument [Line Items]
Applicable margin for borrowings under new credit facility	1.25%			1.25%
Twenty Nineteen Credit Agreement \| Minimum [Member] \| Swingline Loans [Member]
Debt Instrument [Line Items]
Applicable margin for borrowings under new credit facility	0.25%			0.25%
Twenty Nineteen Credit Agreement \| Minimum [Member] \| ABR Loans [Member]
Debt Instrument [Line Items]
Applicable margin for borrowings under new credit facility	0.25%			0.25%
Twenty Nineteen Credit Agreement \| Maximum [Member]
Debt Instrument [Line Items]
Commitment fees on unused portion of the Revolving Credit Facility				0.30%
Senior secured leverage ratio				3.00%
Twenty Nineteen Credit Agreement \| Maximum [Member] \| Term Benchmark Loans [Member]
Debt Instrument [Line Items]
Applicable margin for borrowings under new credit facility	2.00%			2.00%
Twenty Nineteen Credit Agreement \| Maximum [Member] \| Swingline Loans [Member]
Debt Instrument [Line Items]
Applicable margin for borrowings under new credit facility	1.00%			1.00%
Twenty Nineteen Credit Agreement \| Maximum [Member] \| ABR Loans [Member]
Debt Instrument [Line Items]
Applicable margin for borrowings under new credit facility	1.00%			1.00%
Secured Credit Agreement [Member]
Debt Instrument [Line Items]
Loan outstanding	$ 0			$ 0

Leases - Schedule of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 10,169
2025	7,197
2026	5,789
2027	3,893
2028	2,073
Thereafter	7,988
Total lease payments	37,109
Less: imputed interest	5,659
Total operating lease liabilities	$ 31,450	$ 34,461

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Line Items]
Impairment losses	$ 0	$ 0	$ 0
Impairment charge of indefinite-lived intangible assets	0
Income tax receivable, current	16,650,000	11,259,000
Advertising expenses	5,100,000	5,000,000	$ 4,300,000
Accumulated deficit	(130,503,000)	(121,577,000)
Additional paid-in capital	864,135,000	721,307,000
Convertible senior notes, net	81,455,000	0
Prepaid Expenses and Other Current Assets [Member]
Accounting Policies [Line Items]
Assets held for sale - building and related assets		2,700,000
Operating Income [Member]
Accounting Policies [Line Items]
Govenment funds	$ 5,600,000	3,000,000
ASU 2019-12
Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true
ASU 2021-08
Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true
Restricted Stock Units (RSUs) [Member]
Accounting Policies [Line Items]
Stock-based compensation awards requisite service period	4 years
Ministry of the Economy, Finance and Industry, France [Member] \| Research and Development Tax Credit Carryforward [Member]
Accounting Policies [Line Items]
Tax credit carryforward, period	3 years
Income tax receivable	$ 12,100,000	10,000,000
Income tax receivable, current	5,700,000	3,100,000
Income tax receivable, noncurrent	$ 6,400,000	$ 6,900,000
Building and Improvements [Member] \| Minimum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life	5 years
Building and Improvements [Member] \| Maximum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life	39 years
Computer Equipment and Software [Member] \| Minimum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life	3 years
Computer Equipment and Software [Member] \| Maximum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life	5 years
Office Furniture and Equipment [Member] \| Minimum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life	5 years
Office Furniture and Equipment [Member] \| Maximum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life	15 years
Right-of-Use Assets Under Finance Leases [Member] \| Minimum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life	5 years
Right-of-Use Assets Under Finance Leases [Member] \| Maximum [Member]
Accounting Policies [Line Items]
Property and equipment, estimated useful life	10 years

Income Taxes - Components of Income (Loss) Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S	$ (21,803)	$ (62,702)	$ (27,850)
Non-U.S	34,422	34,489	27,562
Income (loss) before income taxes	$ 12,619	$ (28,213)	$ (288)

- Definition

+ References

+ Details

Net Loss Per Share - Schedule of Anti-dilutive Shares Excluded from Computation of Diluted Net Loss Per Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total shares excluded from calculation	7,046	5,919	4,980
Stock Options and ESPP [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total shares excluded from calculation	3,293	961	3,425
Convertible Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Total shares excluded from calculation	3,753	4,958	1,555

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

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


	Year ended December 31,
	2023		2022		2021
Term licenses and other	$	353,065	$	320,181	$	283,226
Perpetual licenses		40,079		43,339		41,582
Maintenance		148,779		135,752		122,733
Professional software services		8,051		7,236		6,205
Software related services		28,032		30,661		31,823
Client engineering services		29,497		28,883		39,282
Other		5,198		6,169		7,328
Total revenue	$	612,701	$	572,221	$	532,179

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Components of Accumulated Other Comprehensive Loss

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


	Foreign currency translation			Retirement related benefit plans			Total
Balance as of December 31, 2020	$	854		$	(3,651	)	$	(2,797	)
Other comprehensive income (loss) before reclassification		(7,254	)		198			(7,056	)
Amounts reclassified from accumulated other comprehensive loss		—			1,199			1,199
Tax effects		—			(296	)		(296	)
Other comprehensive income (loss)		(7,254	)		1,101			(6,153	)
Balance as of December 31, 2021		(6,400	)		(2,550	)		(8,950	)
Other comprehensive income (loss) before reclassification		(24,084	)		87			(23,997	)
Amounts reclassified from accumulated other comprehensive loss		—			3,253			3,253
Tax effects		—			(308	)		(308	)
Other comprehensive income (loss)		(24,084	)		3,032			(21,052	)
Balance as of December 31, 2022		(30,484	)		482			(30,002	)
Other comprehensive income (loss) before reclassification		9,011			(16	)		8,995
Amounts reclassified from accumulated other comprehensive loss		—			(1,479	)		(1,479	)
Tax effects		—			177			177
Other comprehensive income (loss)		9,011			(1,318	)		7,693
Balance as of December 31, 2023	$	(21,473	)	$	(836	)	$	(22,309	)

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue From Contracts With Customers [Line Items]
Percentage of net revenues through indirect channels	13.60%	13.90%	12.00%
Capitalized contract cost, amortization period	4 years
Capitalized contract cost, amortization method	straight-line basis
Contract assets	$ 5,186	$ 6,290
Deferred revenue, revenue recognized	106,900
Contracted revenue not yet recognized	$ 251,800
Revenue recognize percentage	66.00%
Sales and Marketing Expense [Member]
Revenue From Contracts With Customers [Line Items]
Sales commissions	$ 8,800	8,300
Prepaid and Other Current Assets [Member]
Revenue From Contracts With Customers [Line Items]
Capitalized contract cost net, current	4,300	3,900
Contract assets	2,700	2,300
Other Long-Term Assets [Member]
Revenue From Contracts With Customers [Line Items]
Capitalized contract cost net, noncurrent	900	400
Accounts Receivable [Member]
Revenue From Contracts With Customers [Line Items]
Contract assets	$ 5,200	$ 6,300

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information Related to Lease Liabilities

Supplemental balance sheet information related to lease liabilities was as follows:


	December 31,
(in thousands, except lease term and discount rate)	2023			2022
Operating leases:
Operating lease ROU assets	$	30,759		$	33,601

Current portion of operating lease liabilities	$	8,825		$	10,396
Operating lease liabilities, net of current portion		22,625			24,065
Total operating lease liabilities	$	31,450		$	34,461

Weighted average remaining lease term		6.0		3.4
Weighted average discount rate		3.9	%		3.8	%

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(11,606	)	$	(12,949	)	$	(12,058	)
ROU assets obtained in exchange for new operating lease obligations	$	17,023		$	12,455		$	6,577

Schedule of Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of December 31, 2023, were as follows (in thousands):


Year ending December 31,
2024	$	10,169
2025		7,197
2026		5,789
2027		3,893
2028		2,073
Thereafter		7,988
Total lease payments		37,109
Less: imputed interest		5,659
Total operating lease liabilities	$	31,450

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Loss (gain) on mark-to-market adjustment of contingent consideration		$ 5,706	$ (7,153)	$ 0
2023 Acquisitions [Member]
Business Acquisition [Line Items]
Fair value of consideration transferred		6,100
2023 Acquisitions [Member] \| Goodwill [Member]
Business Acquisition [Line Items]
Fair value of consideration transferred		2,900
2023 Acquisitions [Member] \| Developed Technology [Member]
Business Acquisition [Line Items]
Fair value of consideration transferred		2,200
2023 Acquisitions [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Fair value of consideration transferred		400
Prior Acquisitions [Member]
Business Acquisition [Line Items]
Contingent consideration			12,000
Loss (gain) on mark-to-market adjustment of contingent consideration		$ 5,700	$ (7,200)
Prior Acquisitions [Member] \| Class A Common Stock [Member]
Business Acquisition [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	257,382

Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Summary Of Other Intangible Assets [Line Items]
Gross carrying amount	$ 202,143	$ 194,294
Accumulated amortization	129,071	97,111
Net carrying amount	73,072	97,183
Gross carrying amount	212,621	204,720
Net carrying amount	83,550	107,609
Developed Technology [Member]
Summary Of Other Intangible Assets [Line Items]
Gross carrying amount	142,368	135,703
Accumulated amortization	90,729	67,665
Net carrying amount	$ 51,639	$ 68,038
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	$ 58,316	$ 57,143
Accumulated amortization	37,779	29,148
Net carrying amount	$ 20,537	$ 27,995
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	$ 1,459	$ 1,448
Accumulated amortization	563	298
Net carrying amount	$ 896	$ 1,150
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]
Gross carrying amount	$ 10,478	$ 10,426
Net carrying amount	$ 10,478	$ 10,426

Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Debt

7. 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, which commenced 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, 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 December 31, 2023, 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 December 31, 2023.

As of December 31, 2023, the “if converted value” of the 2027 Notes exceeded the principal amount by $40.0 million.

2024 Notes

In June 2019, the Company issued $230.0 million aggregate principal amount of 0.25% convertible senior notes maturing on June 1, 2024 (the "2024 Notes" together with the 2027 Notes "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 issuance costs. 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. The interest rate is fixed at 0.25% per year, payable semi-annually in arrears on June 1 and December 1 of each year, which commenced on 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.

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 year ended December 31, 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 December 31, 2023, until the close of business on the business day immediately preceding the maturity date, holders may convert their 2024 Notes at any time. Upon conversion, the Company has elected to settle the 2024 Notes par value in cash and to settle the premium in shares of Class A common stock, subject to the terms and conditions provided in the Indenture. As of December 31, 2023, $81.7 million principal amount of the 2024 Notes remained outstanding and were classified as current liabilities on the consolidated balance sheet.

As of December 31, 2023, the “if converted value” of the 2024 Notes exceeded the principal amount by $66.2 million.

The net carrying value of the 2027 and 2024 Notes was as follows (in thousands):


	December 31, 2023				December 31, 2022
	2027 Notes		2024 Notes		2027 Notes		2024 Notes
Principal	$	230,000	$	81,729		230,000	$	81,754
Less: unamortized debt issuance costs		4,071		274		5,247		903
Net carrying amount	$	225,929	$	81,455	$	224,753	$	80,851

The interest expense related to the 2027 and 2024 Notes was as follows (in thousands):


	Year ended December 31,
	2023		2022		2021
Contractual interest expense	$	4,230	$	2,452	$	575
Amortization of debt issuance cost and discount		1,806		1,745		11,405
Total	$	6,036	$	4,197	$	11,980

Credit agreement

Revolving credit facility

On November 7, 2022, the Company exercised the $50.0 million accordion feature of its credit facility in accordance with the terms and conditions set forth in its credit agreement. In June 2022, the Company amended its credit agreement to, among other things, permit the issuance of the 2027 Notes and extend the maturity date of the credit facility to December 31, 2025.

As of December 31, 2023, the Company has a $200.0 million credit agreement with a maturity date of December 31, 2025 (“2019 Amended Credit Agreement”) and there were no outstanding borrowings. The 2019 Amended Credit Agreement is available for general corporate purposes, including working capital, capital expenditures, and permitted acquisitions.

Borrowings under the 2019 Amended Credit Agreement bear interest at a rate per annum equal to an agreed upon applicable margin plus, at the Company’s option, either the Alternate Base Rate (defined as the greatest of (1) the Prime Rate (as defined in the 2019 Amended Credit Agreement) in effect on such day, (2) the Federal Funds Effective Rate (as defined in the 2019 Amended Credit Agreement) in effect on such day plus 1/2 of 1.00% and (3) the Adjusted Term SOFR Rate (as defined in the 2019 Amended Credit Agreement) for one-month interest period as published two U.S. Government Securities Business Days prior to such day (or if such day is not a business day, the immediately preceding business day) plus 1.00%) or the Adjusted Term SOFR Rate. The applicable

margin for borrowings under the 2019 Amended Credit Agreement is based on the Company’s most recently tested senior secured leverage ratio and will vary from (a) in the case of Term Benchmark loans, 1.25% to 2.00%, and (b) in the case of ABR loans or swingline loans, 0.25% to 1.00%. The Company pays a commitment fee ranging from 0.15% to 0.30% on the unused portion of the 2019 Amended Credit Agreement.

Collateral and guarantees

The 2019 Amended Credit Agreement is secured by collateral including (i) substantially all of the Company’s properties and assets, and the properties and assets of the Company’s domestic subsidiaries but excluding any patents, copyrights, patent applications or copyright applications or any trade secrets or software products and (ii) pledges of the equity interests in all present and future domestic subsidiaries (subject to certain exceptions as provided for under the 2019 Amended Credit Agreement). The Company’s direct and indirect domestic subsidiaries are guarantors of all the obligations under the 2019 Amended Credit Agreement.

Debt covenants

The 2019 Amended Credit Agreement requires the Company to maintain a Senior Secured Leverage Ratio not greater than 3.00 to 1.00 as of the last day of each fiscal quarter. The Senior Secured Leverage Ratio is defined as the ratio of total indebtedness secured by a lien (net of unrestricted domestic cash in excess of $20.0 million) to EBITDA, as such terms are defined in the 2019 Amended Credit Agreement, for the rolling four quarter period ending on such date. As of December 31, 2023, the Company was in compliance with its financial covenants.

Other

The Company has available overdraft and line of credit facilities in several countries in which it operates. These credit facilities are with various domestic and international banks and are at quoted market rates. As of December 31, 2023 and 2022, the Company had $2.4 million and $3.1 million, respectively, of availability under these facilities and there were no outstanding commitments.

- 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://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Supplementary Information (Tables)

12 Months Ended

Dec. 31, 2023

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 statements of cash flows (in thousands):


	December 31,
	2023		2022
Cash and cash equivalents	$	467,459	$	316,146
Restricted cash included in other long-term assets		117		812
Total cash, cash equivalents, and restricted cash	$	467,576	$	316,958

Schedule of Accounts Receivable Net

Accounts receivable, net consisted of the following (in thousands):


	December 31,
	2023		2022
Accounts receivable, trade	$	185,275	$	163,989
Contract assets		5,186		6,290
Accounts receivable, net	$	190,461	$	170,279

Schedule of Provision for Credit Loss

Activity in the provision for credit loss was as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
Balance, beginning of year	$	(2,590	)	$	(2,539	)	$	(2,559	)
Provision charged to expense		(299	)		(203	)		(514	)
Write-off, net of recoveries		6			498			500
Effects of foreign currency translation		(58	)		(346	)		34
Balance, end of year	$	(2,941	)	$	(2,590	)	$	(2,539	)

Summary of Property and Equipment

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


	Estimated			December 31,
	useful lives			2023		2022
Land	Indefinite			$	8,376	$	7,994
Building and improvements	5-39 years				17,528		16,995
Computer equipment and software	3-5 years				45,678		45,340
Office furniture and equipment	5-15 years				14,402		15,457
Leasehold improvements		(1	)		8,380		8,766
Total property and equipment					94,364		94,552
Less: accumulated depreciation and amortization					54,561		57,035
Property and equipment, net				$	39,803	$	37,517

(1)

Shorter of lease term or estimated useful life, generally ranging from five to ten years.

Summary of Other Accrued Expenses and Current Liabilities

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


	December 31,
	2023		2022
Income taxes payable	$	12,239	$	11,524
Accrued VAT		8,710		8,402
Employee stock purchase plan obligations		4,155		3,969
Obligations related to acquisition of businesses		3,286		13,136
Customer advances		2,700		921
Non-income tax liabilities		2,473		2,465
Accrued professional fees		2,436		3,637
Billings in excess of cost		2,385		1,874
Accrued royalties		2,313		2,593
Defined contribution plan liabilities		1,454		1,393
Other current liabilities		6,247		6,457
Total	$	48,398	$	56,371

Summary of Other Long-term Liabilities

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


	December 31,
	2023		2022
Income tax reserves	$	16,254	$	10,852
Pension and other post-retirement liabilities		15,815		12,273
Deferred tax liabilities		12,870		16,775
Other liabilities		2,212		1,316
Total	$	47,151	$	41,216

Schedule of Other (Income) Expense, Net

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


	Year ended December 31,
	2023			2022			2021
Interest income	$	(16,855	)	$	(4,127	)	$	(541	)
Foreign exchange (gain) loss		(1,637	)		4,405			1,103
Expense on repurchase of convertible senior notes		—			16,621			—
Other (income) expense, net	$	(18,492	)	$	16,899		$	562

Supplementary Information - Summary of Other Long-term Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Income tax reserves	$ 16,254	$ 10,852
Pension and other post retirement liabilities	15,815	12,273
Deferred tax liabilities	12,870	16,775
Other liabilities	2,212	1,316
Total	$ 47,151	$ 41,216

Income Taxes - Reconciliation of Income Taxes Calculated at U.S. Federal Statutory Income Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	21.00%	21.00%	21.00%
Income taxes at U.S. federal statutory rate	$ 2,650	$ (5,925)	$ (60)
Foreign income taxes at rates other than the federal statutory rate	1,733	2,249	2,950
U.S. state and local income taxes, net of U.S. federal tax benefit	(1,952)	(5,976)	(4,826)
U.S. effect of foreign operations	(9,931)	15,827	1,827
Change in valuation allowance	29,849	7,830	20,212
Foreign withholding taxes	7,444	6,738	(4,545)
U.S. foreign tax credit and deduction	(17,522)	(12,315)	(288)
Research and development tax credit	391	(326)	(784)
Stock-based compensation	1,361	8,649	(12,791)
Other	123	1,250	753
Uncertain tax positions	6,370	472	6,058
FDII deduction	(169)	(5,245)	0
Mark-to-market adjustment of contingent consideration	1,198	(1,502)	0
Repurchase of convertible senior notes	0	3,490	0
Income tax expense	$ 21,545	$ 15,216	$ 8,506

Acquisitions

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Acquisitions

4. Acquisitions

2023 Acquisitions

During the year ended December 31, 2023, the Company completed a business acquisition that was insignificant to the Company’s consolidated financial statements. The preliminary aggregate purchase price of this acquisition was $6.1 million and was allocated to assets acquired and liabilities assumed at their estimated fair values. The allocation included $2.2 million to developed technology, $0.4 million to customer relationships and $2.9 million to goodwill, which is deductible for tax purposes. The operating results of this acquisition have been included in the consolidated financial statements since the acquisition date. All goodwill is recorded in the Software segment. The Company expects to finalize the purchase accounting as soon as practicable, but not later than one year from the acquisition date. The Company’s transaction costs related to the acquisition were not material.

Prior acquisitions

The Company finalized the valuation of all 2022 acquisitions as of December 31, 2023. There were no significant changes to the preliminary fair value of assets acquired and liabilities assumed, as previously reported.

The Company recognized a $5.7 million loss and a $7.2 million gain, respectively, for the years ended December 31, 2023 and 2022, from a mark-to-market adjustment of contingent consideration associated with the World Programming acquisition. The mark-to-market adjustments were included in Other operating expense (income), net in the consolidated statements of operations.

As of December 31, 2022, the Company had a $12.0 million contingent consideration liability related to the World Programming acquisition. The Company settled the liability in October 2023 by issuing 257,382 shares of its Class A common stock in accordance with the acquisition agreement.

Stock-based Compensation - Summary of Stock Option Activity under NSO Plan (Detail) - NSO Plan [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of options, Outstanding, Beginning Balance	1,158,260
Number of options, Exercised	(163,376)
Number of options, Outstanding and exercisable, Ending Balance	994,884
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	$ 0.000025
Weighted average exercise price per share, Exercised	0.000025
Weighted average exercise price per share, Outstanding and exercisable, Ending Balance	$ 0.000025
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining contractual term (years), Outstanding		14 years
Weighted average remaining contractual term (years), Outstanding and exercisable	13 years
Aggregate intrinsic value, Outstanding and exercisable	$ 83.7

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Accumulated Other Comprehensive Loss

15. Accumulated other comprehensive loss

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


	Foreign currency translation			Retirement related benefit plans			Total
Balance as of December 31, 2020	$	854		$	(3,651	)	$	(2,797	)
Other comprehensive income (loss) before reclassification		(7,254	)		198			(7,056	)
Amounts reclassified from accumulated other comprehensive loss		—			1,199			1,199
Tax effects		—			(296	)		(296	)
Other comprehensive income (loss)		(7,254	)		1,101			(6,153	)
Balance as of December 31, 2021		(6,400	)		(2,550	)		(8,950	)
Other comprehensive income (loss) before reclassification		(24,084	)		87			(23,997	)
Amounts reclassified from accumulated other comprehensive loss		—			3,253			3,253
Tax effects		—			(308	)		(308	)
Other comprehensive income (loss)		(24,084	)		3,032			(21,052	)
Balance as of December 31, 2022		(30,484	)		482			(30,002	)
Other comprehensive income (loss) before reclassification		9,011			(16	)		8,995
Amounts reclassified from accumulated other comprehensive loss		—			(1,479	)		(1,479	)
Tax effects		—			177			177
Other comprehensive income (loss)		9,011			(1,318	)		7,693
Balance as of December 31, 2023	$	(21,473	)	$	(836	)	$	(22,309	)

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill Attributable to Software Reportable Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 449,048	$ 370,178
Acquisitions	2,948	96,092
Foreign currency translation and other	6,129	(17,222)
Ending Balance	$ 458,125	$ 449,048

- 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

Net Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2023

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 per share amounts (in thousands, except per share data):


	Year ended December 31,
	2023			2022			2021
Numerator:
Net loss	$	(8,926	)	$	(43,429	)	$	(8,794	)
Denominator:
Denominator for basic and diluted loss per share — weighted average shares		80,596			79,472			76,179
Net loss per share attributable to common stockholders, basic and diluted	$	(0.11	)	$	(0.55	)	$	(0.12	)

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):


	Year ended December 31,
	2023		2022		2021
Stock options and ESPP		3,293		961		3,425
Convertible shares		3,753		4,958		1,555
Total shares excluded from calculation		7,046		5,919		4,980

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Dec. 31, 2023 Segment
Segment Reporting Information [Line Items]
Number of reportable segments	2

Revenue from Contracts with Customers - Schedule of Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Total revenue	$ 612,701	$ 572,221	$ 532,179
Term Licenses and Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	353,065	320,181	283,226
Perpetual Licenses [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	40,079	43,339	41,582
Maintenance [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	148,779	135,752	122,733
Professional Software Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	8,051	7,236	6,205
Software Related Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	28,032	30,661	31,823
Client Engineering Services [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	29,497	28,883	39,282
Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 5,198	$ 6,169	$ 7,328

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Pension Benefits Obligation Recorded in Consolidated Balance Sheets

A summary of the components of the pension benefits obligation recorded in the consolidated balance sheets are as follows (in thousands):


	December 31,
	2023		2022
Other long-term assets	$	135	$	127
Accrued compensation and benefits		1,170		957
Other long-term liabilities		15,815		12,273
	$	16,850	$	13,103

Schedule of Estimated Future Benefit Payments

The estimated future benefit payments, which reflect expected future service that are expected to be paid for each of the next five years are as follows (in thousands):


Year ending
December 31, 2024	$	1,233
December 31, 2025	$	974
December 31, 2026	$	1,500
December 31, 2027	$	1,323
December 31, 2028	$	1,229
Next five years	$	6,949

Stock-based Compensation - Summary of Restricted Stock Units Awarded (Detail) - 2017 Plan [Member] - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2023 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	1,230,774
Number of RSUs, Granted	423,771
Number of RSUs, Vested	(538,997)
Number of RSUs, Forfeited	(29,197)
Number of RSUs, Outstanding Ending Balance	1,086,351

Income Taxes - Summary of Changes to Valuation Allowance Balance (Detail) - Valuation Allowance of Deferred Tax Assets [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Valuation Allowance [Line Items]
Balance at beginning of year	$ 149,441	$ 119,981	$ 96,831
Additions charged to expense	30,665	7,830	20,212
Deductions	(816)	0	0
Other	476	21,630	2,938
Balance at end of year	$ 179,766	$ 149,441	$ 119,981

Leases - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee Lease Description [Line Items]
Operating lease cost	$ 13.1	$ 13.4	$ 13.8
Rent cost for operating leases	$ 11.3	$ 11.7	$ 12.2
Minimum [Member]
Lessee Lease Description [Line Items]
Leases, remaining lease term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Leases, remaining lease term	15 years
Leases, options to terminate leases	3 years

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of significant accounting policies

Principles of consolidation

Change in Classification of Indirect Costs

The following table summarizes the changes made to the consolidated statement of operations for the years ended December 31, 2022 and 2021 (in thousands):


	Year ended December 31, 2022						Year ended December 31, 2021
	Previously Reported			Recast			Previously Reported			Recast
Operating expenses:
Research and development	$	185,863		$	202,542		$	151,049		$	167,341
Sales and marketing		155,245			163,884			132,750			141,484
General and administrative		97,606			72,288			91,500			66,474
Amortization of intangible assets		27,510			27,510			18,357			18,357
Other operating income, net		(9,955	)		(9,955	)		(3,482	)		(3,482	)
Total operating expenses	$	456,269		$	456,269		$	390,174		$	390,174

Use of estimates

Foreign currency translation

Revenue recognition

Software revenue

Software related services

Client engineering services

Other

Property and equipment, net

Software development costs

Impairment of long-lived assets

Goodwill and other indefinite-lived intangible assets

Government assistance

Receivable for R&D credit

Other Investments

Income taxes

Research and development costs

Advertising costs

Advertising costs are expensed as incurred. Advertising expenses were $5.1 million, $5.0 million and $4.3 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Assets held for sale

Leases

Stock-based compensation

Business combinations

Recent accounting guidance

Accounting standards not yet adopted

Segment Information - Reconciliation of U.S. GAAP (Loss) Income Before Income Taxes to Adjusted EBITDA (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Currency losses on acquisition-related intercompany loans		$ 6,800
Loss (gain) on mark-to-market adjustment of contingent consideration	$ 5,706	(7,153)	$ 0
Interest income	16,900	4,100	500
Currency gains on acquisition-related intercompany loans	$ 3,200		$ 1,200
World Programming [Member]
Segment Reporting Information [Line Items]
Loss (gain) on mark-to-market adjustment of contingent consideration		(7,200)
Convertible Senior Notes Due in 2024 [Member]
Segment Reporting Information [Line Items]
Fair value expense recognized		$ 16,600

Retirement Benefits - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Funded percentage	80.00%
Defined Benefit Plan, Contributions by Employer	$ 1,600	$ 1,600	$ 1,600
Net benefit cost	2,600	2,500	3,000
Benefit obligation benefits paid	400	700	$ 400
Accumulated benefit obligation	11,600	10,100
Defined benefit plan, benefit obligation	$ 16,850	$ 13,103

Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Stockholders' Equity

10. Stockholders’ equity

Preferred stock

As of December 31, 2023, the Company had authorized 45,000,000 shares of preferred stock, par value $0.0001, of which no shares were issued or outstanding. The Board of Directors has the authority to issue the preferred stock in one or more series and to fix rights, preferences, privileges, and restrictions, including dividends and the number of shares constituting any series or the designation of such series, without any further vote or action by the stockholders.

Common stock

As of December 31, 2023, the Company had authorized 513,796,572 shares of Class A common stock, par value $0.0001, and 41,203,428 shares of Class B common stock, par value $0.0001. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion rights. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to ten votes per share and is convertible into one share of Class A common stock.

The holders of Class A and Class B common stock are entitled to dividends at the sole discretion of the Board of Directors. No common stock dividends were declared or paid in 2023, 2022, or 2021.

Stock repurchase program

In May 2023, the Company’s Board of Directors approved an increase under our existing stock repurchase program from $50.0 million to $75.0 million of the Company's outstanding Class A Common Stock. As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases under the 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. The Company intends to use the share repurchase plan to opportunistically return capital to shareholders while still focusing on its primary goal of investing in the business to drive growth.

During the year ended December 31, 2023, under the Company's stock repurchase program, the Company repurchased 91,273 shares at an average price of $46.63 per share for a total cost of $4.3 million. As of December 31, 2022, $49.1 million of shares of Class A Common Stock remained available for repurchase under the program.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 14
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

12. Income taxes

The components of income (loss) before income taxes are as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
U.S.	$	(21,803	)	$	(62,702	)	$	(27,850	)
Non-U.S.		34,422			34,489			27,562
	$	12,619		$	(28,213	)	$	(288	)

The significant components of the income tax expense are as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
Current
U.S. Federal	$	—		$	—		$	—
Non-U.S.		22,746			18,759			9,781
U.S. State and Local		1,118			621			227
Total current		23,864			19,380			10,008
Deferred
U.S. Federal		35			23			26
Non-U.S.		(2,384	)		(4,206	)		(1,550	)
U.S. State and Local		30			19			22
Total deferred		(2,319	)		(4,164	)		(1,502	)
Income tax expense	$	21,545		$	15,216		$	8,506

The reconciliation of income taxes calculated at the U.S. Federal statutory income tax rate to income tax expense is as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
U.S. federal statutory rate		21	%		21	%		21	%
Income taxes at U.S. federal statutory rate	$	2,650		$	(5,925	)	$	(60	)
Foreign income taxes at rates other than the federal statutory rate		1,733			2,249			2,950
U.S. state and local income taxes, net of U.S. federal tax benefit		(1,952	)		(5,976	)		(4,826	)
U.S. effect of foreign operations		(9,931	)		15,827			1,827
Change in valuation allowance		29,849			7,830			20,212
Foreign withholding taxes		7,444			6,738			(4,545	)
U.S. foreign tax credit and deduction		(17,522	)		(12,315	)		(288	)
Research and development tax credit		391			(326	)		(784	)
Stock-based compensation		1,361			8,649			(12,791	)
Other		123			1,250			753
Uncertain tax positions		6,370			472			6,058
FDII deduction		(169	)		(5,245	)		—
Mark-to-market adjustment of contingent consideration		1,198			(1,502	)		—
Repurchase of convertible senior notes		—			3,490			—
Income tax expense	$	21,545		$	15,216		$	8,506


	December 31,
	2023			2022
Deferred tax assets:
Deferred revenue	$	9,730		$	18,571
Net operating loss carryforwards		60,702			64,091
Tax credit carryforwards		48,752			24,319
Stock-based compensation		12,011			8,312
Capitalized research and development		58,946			43,860
Lease obligation		7,517			8,810
Employee benefits		6,955			5,941
Other		3,910			5,931
Total gross deferred tax assets		208,523			179,835
Less: valuation allowances		(179,766	)		(149,441	)
Net deferred tax assets (1)		28,757			30,394
Deferred tax liabilities:
Prepaid royalties		3,602			—
Property and equipment and intangibles		16,610			24,155
Deferred tax on investment in subsidiary		1,950			1,500
Lease right of use asset		7,357			8,578
Other		2,153			3,209
Total deferred tax liabilities		31,672			37,442
Total net deferred tax liabilities	$	(2,915	)	$	(7,048	)

(1)

Reflects gross amount before jurisdictional netting of deferred tax assets and liabilities.

Deferred tax assets and liabilities are determined separately for each tax jurisdiction on a separate or on a consolidated tax filing basis, as applicable, in which the Company conducts its operations or otherwise incurs taxable income or losses. A valuation allowance is

recorded when it is more likely than not that some portion or all of the gross deferred tax assets will not be realized. The realization of deferred tax assets depends on the ability to generate sufficient taxable income of the appropriate character within the carryback or carryforward periods provided for in the tax law for each applicable tax jurisdiction. The Company considers the following possible sources of taxable income when assessing the realization of deferred tax assets:

•

taxable income in prior carryback years;

•

future reversals of existing taxable temporary differences;

•

future taxable income exclusive of reversing temporary differences and carryforwards; and

•

prudent and feasible tax planning strategies that the Company would be willing to undertake to prevent a deferred tax asset from otherwise expiring.

The assessment regarding whether a valuation allowance is required or whether a change in judgment regarding the valuation allowance has occurred also considers all available positive and negative evidence, including but not limited to:

•

nature, frequency, and severity of cumulative losses in recent years;

•

duration of statutory carryforward and carryback periods;

•

statutory limitations against utilization of tax attribute carryforwards against taxable income;

•

historical experience with tax attributes expiring unused; and

•

near‑ and medium‑term financial outlook.

The weight given to the positive and negative evidence is commensurate with the extent to which the evidence may be objectively verified. Accordingly, it is generally difficult to conclude a valuation allowance is not required when there is significant objective and verifiable negative evidence, such as cumulative losses in recent years. The Company uses the actual results for the last two years and current year results as the primary measure of cumulative losses in recent years.

The evaluation of deferred tax assets requires judgment in assessing the likely future tax consequences of events recognized in the financial statements or tax returns and future profitability. The recognition of deferred tax assets represents the Company’s best estimate of those future events. Changes in the current estimates, due to unanticipated events or otherwise, could have a material effect on the Company’s results of operations and financial condition.

In certain tax jurisdictions, the Company’s analysis indicates that it has cumulative losses in recent years. This is considered significant negative evidence, which is objective and verifiable and, therefore, difficult to overcome. However, the cumulative loss position is not solely determinative and, accordingly, the Company considers all other available positive and negative evidence in its analysis. Based on its analysis, the Company has recorded a valuation allowance for the portion of deferred tax assets where based on the weight of available evidence it is unlikely to realize those deferred tax assets.

Based on the evidence available including a lack of sustainable earnings, the Company in its judgment previously recorded a valuation allowance against substantially all of its net deferred tax assets in the United States. If a change in judgment regarding this valuation allowance were to occur in the future, the Company will record a potentially material deferred tax benefit, which could result in a favorable impact on the effective tax rate in that period.

The Company continues to record deferred foreign taxes on gross book-tax basis differences to the extent of foreign distributable reserves and excess cash balances for its subsidiary in India. Determining the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings is not practicable.

The following table summarizes the changes to the valuation allowance balance (in thousands):


	Year ended December 31,
	2023			2022		2021
Beginning balance	$	149,441		$	119,981	$	96,831
Additions charged to expense		30,665			7,830		20,212
Deductions		(816	)		—		—
Other		476			21,630		2,938
Ending balance	$	179,766		$	149,441	$	119,981

The change in valuation allowance in Other for 2023 of $0.5 million is primarily related to currency translation. The change in the valuation allowance in Other for 2022 of $21.6 million is primarily related to a $6.8 million increase from the adoption of ASU 2020-06 for convertible debt instruments, and a $13.1 million valuation allowance recorded on deferred tax assets established during purchase accounting from the RapidMiner acquisition. The change in valuation allowance in Other for 2021 of $2.9 million is primarily related to a valuation allowance recorded on deferred tax assets established during purchase accounting from the World Programming acquisition.

The following table summarizes the amount and expiration dates of operating loss and tax credit carryforwards as of December 31, 2023 (in thousands):


	Expiration dates	Amounts
U.S. general business credits and loss carryforwards	2024-Indefinite	$	64,426
Foreign general business credits and loss carryforwards	2024-Indefinite		15,711
U.S. foreign tax credits	2027 - 2032		29,317
Total operating loss and tax credit carryforwards		$	109,454

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands):


	Year ended December 31,
	2023			2022			2021
Unrecognized tax benefits—January 1	$	28,977		$	16,376		$	8,310
Additions for tax positions of current period		9,435			50			1,042
Additions for tax positions of prior periods		901			13,910			8,983
Reductions for tax positions of prior periods		(500	)		(1,334	)		(1,934	)
Reductions due to statute of limitations		(594	)		(25	)		(25	)
Unrecognized tax benefits—December 31	$	38,219		$	28,977		$	16,376

As of December 31, 2023, the Company had $15.0 million of gross unrecognized tax benefits that if recognized would affect the effective tax rate. The Company expects a reduction over the next 12 months in the gross unrecognized tax benefits of approximately $0.5 million which if recognized would not impact the effective tax rate during 2024.

The Company operates globally but considers its more significant tax jurisdictions to include the United States, India, Germany, Japan, and China. India has tax years open for examination from 2011 through 2023. All other significant jurisdictions have open tax years from 2016 through 2023.

The Company records interest and penalties with respect to unrecognized tax benefits as a component of the provision for income taxes. For the years ended December 31, 2023, 2022, and 2021, accrued interest and penalties related to unrecognized tax benefits were approximately $1.2 million, $1.0 million, and $1.0 million, respectively, all of which if recognized would affect the effective tax rate.

- 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 569,736	$ 613,197	$ 378,586
Total other comprehensive income (loss)	7,693	(21,052)	(6,153)
Ending balance	711,331	569,736	613,197
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(30,484)	(6,400)	854
Other comprehensive income (loss) before reclassification	9,011	(24,084)	(7,254)
Amounts reclassified from accumulated other comprehensive loss	0
Tax effects	0
Total other comprehensive income (loss)	9,011	(24,084)	(7,254)
Ending balance	(21,473)	(30,484)	(6,400)
Retirement Related Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	482	(2,550)	(3,651)
Other comprehensive income (loss) before reclassification	(16)	87	198
Amounts reclassified from accumulated other comprehensive loss	1,479	3,253	1,199
Tax effects	(177)	(308)	(296)
Total other comprehensive income (loss)	1,318	3,032	1,101
Ending balance	836	482	(2,550)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(30,002)	(8,950)	(2,797)
Other comprehensive income (loss) before reclassification	8,995	(23,997)	(7,056)
Amounts reclassified from accumulated other comprehensive loss	(1,479)	3,253	1,199
Tax effects	(177)	(308)	(296)
Total other comprehensive income (loss)	7,693	(21,052)	(6,153)
Ending balance	$ (22,309)	$ (30,002)	$ (8,950)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- 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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- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Stock-based Compensation - Additional Information (Detail)	1 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) shares	Mar. 31, 2022 USD ($) shares	Dec. 31, 2023 USD ($) Installment $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Sep. 27, 2017 shares	Dec. 31, 2012 shares
World Programming [Member] \| Stock Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 8,000,000	$ 17,600,000	$ 700,000
Weighted average remaining service period			1 year
Powersim Inc [Member] \| Stock Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 1,400,000	2,700,000
Weighted average remaining service period			2 months 12 days
Concept Engineering [Member] \| Stock Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 2,600,000	2,700,000
Weighted average remaining service period			4 months 24 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to nonvested awards not yet recognized			$ 91,400,000
Weighted average remaining service period			4 years
2021 Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Initial offering period beginning date			Jul. 15, 2021
Offering period expiration date			Jan. 14, 2022
Amount of eligible compensation for employee payroll deductions			$ 25,000
Monthly participant contributions limited to prevent prejudicial advantages to higher compensated employees			$ 1,000
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			$ 2,400,000	$ 2,600,000	$ 1,200,000
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			2,832,220
Issuance of common stock for employee stock purchase program (in shares) \| shares			182,883	184,897	0
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			$ 4,200,000	$ 4,000,000
2021 Employee Stock Purchase Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of eligible compensation for employee payroll deductions			15.00%
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			183,000	185,000
Class A Common Stock [Member] \| World Programming [Member] \| Stock Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business acquisition, shares issued fair value					$ 29,500,000
Class A Common Stock [Member] \| Powersim Inc [Member] \| Stock Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business acquisition, shares issued \| shares		68,792
Business acquisition, shares issued fair value		$ 4,300,000
Class A Common Stock [Member] \| Concept Engineering [Member] \| Stock Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business acquisition, shares issued \| shares	105,082
Business acquisition, shares issued fair value	$ 6,000,000
Class A Common Stock [Member] \| Employee [Member] \| Powersim Inc [Member] \| Stock Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business acquisition, shares issued \| shares		34,396
Class A Common Stock [Member] \| Employee [Member] \| Concept Engineering [Member] \| Stock Purchase Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business acquisition, shares issued \| shares	52,541
NSO Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options, outstanding \| shares			994,884	1,158,260
Exercise price stock options outstanding \| $ / shares			$ 0.000025	$ 0.000025
Contractual term			35 years
Intrinsic value of options exercised			$ 11,500,000	$ 11,000,000	78,700,000
2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options, outstanding \| shares				374,574
Exercise price stock options outstanding \| $ / shares				$ 4.34
Contractual term			10 years
Intrinsic value of options exercised			$ 6,600,000	$ 8,500,000	17,500,000
Weighted average remaining service period			4 years
2012 Plan [Member] \| Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized \| shares							5,200,000
2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options, outstanding \| shares			7,602,078	7,491,491
Exercise price stock options outstanding \| $ / shares			$ 52.81	$ 50.39
Intrinsic value of options exercised			$ 20,700,000	$ 1,100,000	$ 700,000
2017 Plan [Member] \| Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance \| shares			4,965,437
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			$ 65.8
Number of vesting equal annual installments \| Installment			4
Weighted average period of recognition			2 years 1 month 6 days
Fair value of RSUs vested			$ 35,500,000
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 Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 85,581	$ 84,787	$ 44,549
Cost of Revenue - Software [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	10,095	8,351	5,619
Research and Development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	33,842	36,250	16,561
Sales and marketing [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	28,376	30,370	15,044
General and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 13,268	$ 9,816	$ 7,325

Summary of Significant Accounting Policies - Summary of Changes Made to Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification [Line Items]
Research and development	$ 212,645	$ 202,542	$ 167,341
Sales and marketing	176,138	163,884	141,484
General and administrative	70,887	72,288	66,474
Amortization of intangible assets	30,851	27,510	18,357
Other operating expense (income), net	146	(9,955)	(3,482)
Total operating expenses	$ 490,667	456,269	390,174
Previously Reported [Member]
Reclassification [Line Items]
Research and development		185,863	151,049
Sales and marketing		155,245	132,750
General and administrative		97,606	91,500
Amortization of intangible assets		27,510	18,357
Other operating expense (income), net		(9,955)	(3,482)
Total operating expenses		456,269	390,174
Recast [Member]
Reclassification [Line Items]
Research and development		202,542	167,341
Sales and marketing		163,884	141,484
General and administrative		72,288	66,474
Amortization of intangible assets		27,510	18,357
Other operating expense (income), net		(9,955)	(3,482)
Total operating expenses		$ 456,269	$ 390,174

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On November 15, 2023, Teresa A. Harris, a member of our board of directors, adopted a Rule 10b5-1 plan providing for the sale of up to 5,580 shares of the Company's Class A common stock. Pursuant to this plan Ms. Harris may sell shares beginning on March 5, 2024, subject to terms of the agreement, and the plan terminates on November 15, 2024. The trading arrangement is intended to satisfy the affirmative defense of Rule 10b5-1(c).
Teresa A Harris [Member]
Trading Arrangements, by Individual
Name	Teresa A. Harris
Title	member of our board of directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 15, 2023
Termination Date	November 15, 2024
Arrangement Duration	255 days
Aggregate Available	5,580

Supplementary Information - Schedule of Provision for Credit Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Balance, beginning of year	$ (2,590)	$ (2,539)	$ (2,559)
Provision charged to expense	(299)	(203)	(514)
Write-off, net of recoveries	6	498	500
Effects of foreign currency translation	(58)	(346)	34
Balance, end of year	$ (2,941)	$ (2,590)	$ (2,539)

Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Net Carrying Value of 2027 and 2024 Notes

The net carrying value of the 2027 and 2024 Notes was as follows (in thousands):


	December 31, 2023				December 31, 2022
	2027 Notes		2024 Notes		2027 Notes		2024 Notes
Principal	$	230,000	$	81,729		230,000	$	81,754
Less: unamortized debt issuance costs		4,071		274		5,247		903
Net carrying amount	$	225,929	$	81,455	$	224,753	$	80,851

Schedule of Interest Expense Related to 2027 and 2024 Notes

The interest expense related to the 2027 and 2024 Notes was as follows (in thousands):


	Year ended December 31,
	2023		2022		2021
Contractual interest expense	$	4,230	$	2,452	$	575
Amortization of debt issuance cost and discount		1,806		1,745		11,405
Total	$	6,036	$	4,197	$	11,980

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 30,851	$ 27,510	$ 18,357

Net Loss 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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net Income (Loss)	$ (8,926)	$ (43,429)	$ (8,794)
Denominator:
Denominator for basic loss per share — weighted average shares	80,596	79,472	76,179
Denominator for diluted loss per share - weighted average shares	80,596	79,472	76,179
Net loss per share attributable to common stockholders, basic	$ (0.11)	$ (0.55)	$ (0.12)
Net loss per share attributable to common stockholders, diluted	$ (0.11)	$ (0.55)	$ (0.12)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

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

+ References

+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

9. 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 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 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 December 31, 2023, the estimated fair value of the 2027 Notes and 2024 Notes was $297.6 million and $147.6 million, respectively, and is presented for required disclosure purposes only. For further information on the Convertible Notes see Note 7.

- 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

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill Attributable to Software Reportable Segment

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


Balance as of December 31, 2021	$	370,178
Acquisitions		96,092
Foreign currency translation and other		(17,222	)
Balance as of December 31, 2022		449,048
Acquisitions		2,948
Foreign currency translation and other		6,129
Balance as of December 31, 2023	$	458,125

Schedule of Other Intangible Assets

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


	December 31, 2023
	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets:
Developed technology	4-6 years	$	142,368	$	90,729	$	51,639
Customer relationships	7-10 years		58,316		37,779		20,537
Other intangibles	4-10 years		1,459		563		896
Total definite-lived intangible assets			202,143		129,071		73,072
Indefinite-lived intangible assets:
Trade names			10,478				10,478
Total other intangible assets		$	212,621	$	129,071	$	83,550


	December 31, 2022
	Weighted average amortization period	Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets:
Developed technology	4-6 years	$	135,703	$	67,665	$	68,038
Customer relationships	7-10 years		57,143		29,148		27,995
Other intangibles	4-10 years		1,448		298		1,150
Total definite-lived intangible assets			194,294		97,111		97,183
Indefinite-lived intangible assets:
Trade names			10,426				10,426
Total other intangible assets		$	204,720	$	97,111	$	107,609

Summary of Estimated Amortization Expense

Estimated amortization expense for the next five years as of December 31, 2023, is as follows (in thousands):


Year ending
December 31, 2024	$	28,835
December 31, 2025		22,103
December 31, 2026		15,920
December 31, 2027		4,689
December 31, 2028		1,286
Thereafter		239
Total	$	73,072

- Definition

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

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