Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of U.S. and International (loss) before income taxes is as follows:

(in thousands)	2019		2020		2021
United States	$	(76,170)	$	(79,179)	$	(55,912)
International	$	17,685	$	15,324	$	26,924
Total loss before income taxes	$	(58,485)	$	(63,855)	$	(28,988)

Schedule of Components of Income Tax Expense (Benefit)

The income tax provision (benefit) for income taxes consists of the following:

(in thousands)	2019		2020		2021
Current income tax provision:
US Federal	$	—	$	—	$	—
US State	559		122		1,547
International	6,746		5,380		9,808
Total current income tax provision	7,305		5,502		11,355
Deferred income tax provision (benefit):
US Federal	(12,908)		(13,009)		(15,597)
US State	(5,597)		(4,244)		(2,451)
International	(603)		189		(3,768)
Total deferred income tax benefit	(19,108)		(17,064)		(21,816)
Total income tax benefit	$	(11,803)	$	(11,562)	$	(10,461)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. statutory income tax rate to the Company’s effective tax rate for continuing operations is as follows:

(dollars in thousands)	2019			2020			2021
Loss before income taxes
US Federal and State	$	(76,170)		$	(79,179)		$	(55,912)
International	17,685			15,324			26,924
Total loss before income taxes	$	(58,485)		$	(63,855)		$	(28,988)
US Federal statutory rate	21		%	21		%	21		%
Income taxes computed at US Federal statutory rate	$	(12,282)		$	(13,409)		(6,088)
Tax impact of foreign operations	5,708			3,192			(1,348)
Tax credits	(1,400)			(1,400)			(840)
Non-deductible transaction related costs	—			—			851
Non-deductible compensation	—			—			3,136
State taxes, net of Federal effect	(2,236)			(2,942)			(949)
U.S. Return to provision and deferred tax adjustments	(1,354)			2,128			(4,243)
Uncertain tax positions	1,620			521			(1,439)
Change in valuation allowance	(2,455)			—			234
Other permanent differences	596			348			225
Total Income tax benefit	$	(11,803)		$	(11,562)		$	(10,461)
Effective income tax rate	20.2		%	18.1		%	36.1		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and deferred tax liabilities consisted of the following:

(in thousands)	2020		2021
Deferred tax assets
Loss carryforwards	$	29,547	$	25,235
Tax credits	5,742		5,802
Accounts receivable, accrued expenses      and reserves	4,833		8,408
Interest expense	2,717		8,858
Stock-based compensation	965		5,396
Hedges, swaps and other unrealized      losses	4,314		2,123
Other	—		121
Total deferred tax assets, gross	$	48,118	$	55,943
Valuation allowance	(2,484)		(2,718)
Total deferred tax assets, net	$	45,634	$	53,225
Deferred tax liabilities
Intangibles	$	(63,289)	$	(67,133)
Property and equipment	(7,779)		(4,695)
Prepaid expenses	(1,658)		(2,857)
Capitalized commissions	(1,001)		(1,177)
Outside basis difference in subsidiaries	(746)		(1,159)
Other	(561)		(18)
Total deferred liabilities	(75,034)		(77,039)
Total deferred tax liabilities, net	$	(29,400)	$	(23,814)

Summary of Valuation Allowance

Activity in the Company’s valuation allowance accounts consists of the following for the years ended December 31, 2019, 2020 and 2021:

(in thousands)	2019		2020		2021
Beginning balance	$	(4,932)	$	(2,477)	$	(2,484)
Additions of deferred income tax expense	—		(7)		(234)
Reductions of deferred income tax expense	2,455		—		—
Ending balance	$	(2,477)	$	(2,484)	$	(2,718)

Schedule of Unrecognized Tax Benefits Roll Forward

Unrecognized tax benefits are reconciled as follows:

(in thousands)
	2020		2021
Gross unrecognized tax benefits as of January 1	$	3,672	$	4,022
Decreases—prior year tax positions	—		(1,830)
Increases—current year tax positions	350		485
Gross unrecognized tax benefits as of December 31	$	4,022	$	2,677