0001842718-23-000005 | 10-K | XBRL Viewer | Integral AD Science Holding Corp

Long-term debt

12 Months Ended

Dec. 31, 2022

On September 29, 2021, the Company entered into a credit agreement with various lenders (the "Credit Agreement"), that provides for an initial $300,000 in commitments for revolving credit loans (the "Revolver"), which amount may be increased or decreased under specific circumstances, with a $30,000 letter of credit sublimit and a $100,000 alternative currency sublimit. In addition, the Credit Agreement provides for the ability to request incremental term loan facilities, in a minimum amount of $5,000 for each facility. Borrowings pursuant to the Credit Agreement may be used for working capital and other general corporate purposes, including for acquisitions permitted under the Credit Agreement. The Company drew down $235,000 on the Revolver on September 29, 2021 and an additional $10,000 on December 23, 2021. During the year ended December 31, 2022, the Company drew $15,000 and paid down $35,000 under the Revolver.

Borrowings under the Credit Agreement are scheduled to mature on September 29, 2026. The Credit Agreement contains certain customary events of default including failure to make payments when due thereunder, and failure to observe or perform certain covenants.

The proceeds of the Revolver, together with cash on hand, were used to repay the outstanding balance of the term loan and revolving loan, under the prior credit agreement entered into on July 19, 2018 (the "Prior Credit Agreement"). In connection with the Revolver, the Company incurred costs of $2,318 that are included in Long-term debt, net, in the Consolidated Balance Sheets. In connection with the extinguishment of the term loan and revolving loan under the prior credit agreement, the Company wrote off deferred financing costs of $3,721 as a loss on extinguishment.

The interest rates for the Revolver under the Credit Agreement for U.S. dollar loans are equal to (i) the applicable rate for base rate loans range from 0.75% to 1.50% per annum, (ii) for LIBO Rate (as defined in the Credit Agreement) loans range from 1.75% to 2.50% per annum, (iii) for RFR Loans (as defined in the Credit Agreement) denominated in sterling range from 1.7826% to 2.5326%, and (iv) for RFR Loans denominated in euro range from 1.7965% to 2.5456%, in each case, based on the Senior Secured Net Leverage Ratio (as defined in the Credit Agreement). Base rate borrowings may only be made in dollars. The Company is required to pay a commitment fee during the term of the Credit Agreement ranging from 0.20% to 0.35% per annum of the average daily undrawn portion of the revolving commitments based on the Senior Secured Net Leverage Ratio. The interest rate on December 31, 2022 was 6.2%.

Any borrowings under the Credit Agreement may be repaid, in whole or in part, at any time and from time to time without premium or penalty other than customary breakage costs, and any amounts repaid may be reborrowed. No mandatory prepayments will be required other than when borrowings and letter of credit usage exceed the aggregate commitment of all lenders.

The Credit Agreement contains covenants requiring certain financial information to be submitted quarterly and annually. In addition, the Company is also required to comply with certain financial covenants such as maintaining a Net Leverage Ratio (as defined in the Credit Agreement) of 3.50:1.00 or lower and maintaining a minimum Interest Coverage Ratio (as defined in the Credit Agreement) of 2.50 to 1.00. As of December 31, 2022, the Company was in compliance with all covenants contained in the Credit Agreement.


	December 31,
	2022		2021
Revolver	$	225,000	$	245,000
Less: Unamortized long-term debt issuance costs	(1,738)		(2,202)
Total carrying amount	$	223,262	$	242,798

Amortization expense related to debt issuance costs for the years ended December 31, 2022 and 2021 was $464 and $1,136 respectively. The Company recognized interest expense of $9,055 and $17,749 during the years ended December 31, 2022 and 2021 respectively. Amortization of debt issuance costs is recorded to interest expense, net on the Company's Consolidated Statements of Operations and Comprehensive Income (Loss).

Future principal payments of long-term debt as of December 31, 2022 are as follows:


Year Ending December 31,
2023	—
2024	—
2025	—
2026	225,000
Total principal payments	$	225,000

Fair value disclosures	12 Months Ended
Fair value disclosures	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair value disclosures	Fair value disclosures Financial instruments The carrying value of cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximated fair value due to their short maturities. The carrying value of long-term debt approximates its fair value based on Level 2 inputs as the principal amounts outstanding are subject to variable interest rates that are based on market rates (see Note 9, "Long-term debt").

- Definition

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

+ References + Details

Accounts payable and accrued expenses and other long term liabilities

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Accounts payable and accrued expenses and other long term liabilities

Accounts payable and accrued expenses and other long-term liabilities

Accounts payable and accrued expenses consisted of the following:


	December 31,
	2022		2021
Accounts payable	$	10,487	$	8,307
Accrued payroll	12,623		5,047
Accrued professional fees	3,150		2,334
Accrued bonuses and commissions	16,527		16,454
Accrued revenue sharing	3,522		8,497
Taxes payable	3,130		6,076
Short term debt	—		1,976
Accrued hosting fees	5,949		2,465
Cease use liability (short-term)	—		1,298
Other accrued expenses	5,411		3,803
Total accounts payable and accrued expenses	$	60,799	$	56,257

Other long-term liabilities consisted of the following:


	December 31,
	2022		2021
Purchase price payable for the acquisitions of Publica and Context	$	—	$	2,320
Cease use liability (long-term)	—		5,689
Security deposit received	672		672
Fin 48 liability	394		—
Total other long-term liabilities	$	1,066	$	8,681

Related-party transactions - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Due to related party	$ 122	$ 74
Affiliated Entity \| Consulting Services and Other \| VCG
Related Party Transaction [Line Items]
Expenses incurred for services provided by related parties	77	201	$ 929
Due to related party	0	0
Affiliated Entity \| Travel and Other \| VEP
Related Party Transaction [Line Items]
Expenses incurred for services provided by related parties	75	27	$ 134
Due to related party	$ 13	$ 0

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(a))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

+ Details

Condensed Financial Information of Registrant (Parent Company Only) - Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Income Statements, Captions [Line Items]
Revenue	$ 408,348	$ 323,513	$ 240,633
Operating expenses	393,191	356,523	254,513
Operating income	15,157	(33,010)	(13,880)
Interest expense, net	(9,053)	(19,244)	(31,570)
Net income (loss) before benefit from income taxes	13,085	(55,975)	(45,450)
Benefit from income taxes	2,288	3,538	13,076
Net income (loss)	15,373	(52,437)	(32,374)
Parent Company
Condensed Income Statements, Captions [Line Items]
Revenue	0	0	0
Operating expenses	0	0	0
Operating income	0	0	0
Interest expense, net	0	0	0
Net income (loss) before benefit from income taxes	0	0	0
Benefit from income taxes	0	0	0
Equity in net income (loss) of subsidiaries	15,373	(52,437)	(32,374)
Net income (loss)	$ 15,373	$ (52,437)	$ (32,374)

Property and equipment, net

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and equipment, net

Property and equipment consisted of the following:


		December 31,
	Estimated Useful Lives	2022		2021
Computer and office equipment	1-3 years	$	3,761	$	3,100
Computer software	3-5 years	218		218
Leasehold improvements	Various	1,060		412
Furniture	5 years	308		66
		5,347		3,796
Less: Accumulated depreciation and amortization		(2,935)		(2,383)
Total property and equipment, net		$	2,412	$	1,413

Depreciation and amortization expense of property and equipment for years ended December 31, 2022, 2021, and 2020 was $907, $1,719 and $2,981, respectively. During the years ended December 31, 2022 and 2021, the Company wrote off assets of $294 and $8,786, respectively.

The Company had no computer and office equipment under capital leases as of December 31, 2022 and 2021. Depreciation expense related to assets under capital leases included $291 and $1,495 for the years ended December 31, 2021 and 2020, respectively. During the year ended December 31, 2021, the Company wrote off fully depreciated assets under capital leases of $6,073.

Accounts payable and accrued expenses and other long term liabilities - Other Long Term Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Purchase price payable for the acquisitions of Publica and Context	$ 0	$ 2,320
Cease use liability (long-term)	0	5,689
Security deposit received	672	672
Fin 48 liability	394	0
Total other long-term liabilities	$ 1,066	$ 8,681

Restructuring - Summary of Restructuring Charge (Details) - Employee Severance $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Total	$ 5,295
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Total	128
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Total	1,248
Technology and development
Restructuring Cost and Reserve [Line Items]
Total	3,114
General and administrative
Restructuring Cost and Reserve [Line Items]
Total	$ 805

Net income (loss) per share - Summary (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Numerator:

Net income (loss)

$ 15,373

$ (52,437)

$ (32,374)

Denominator:

Basic weighted average shares outstanding (in shares)

154,699,694

143,535,546

134,044,284

Dilutive effect of stock based awards (in shares)

2,558,389

Weighted-average diluted shares outstanding

157,258,083

143,535,546

134,044,284

Net income (loss) per share, basic (in dollars per share)

^[1]

$ 0.10

$ (0.37)

$ (0.24)

Net income (loss) per share, diluted (in dollars per share)

^[1]

$ 0.10

$ (0.37)

$ (0.24)

[1]	Amounts for periods prior to the Company’s conversion to a Delaware corporation have been retrospectively adjusted to give effect to the corporate conversion described in Note 1.

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

Intangible assets, net

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

The gross book value, accumulated amortization, net book value and amortization periods of the intangible assets were as follows:


		December 31, 2022
	Estimated Useful Life	Gross Book Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life
Customer relationships	5-15 years	$	301,955	$	(112,589)	$	189,366	9.5 years
Developed technology	4-5 years	137,112		(118,650)		18,462		3.5 years
Trademarks	9 years	19,700		(10,021)		9,679		4.4 years
Favorable leases	6 years	198		(147)		51		1.5 years
Total		$	458,965	$	(241,407)	$	217,558


		December 31, 2021
	Estimated Useful Life	Gross Book Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life
Customer relationships	5-15 years	$	302,026	$	(82,105)	$	219,921	10.4 years
Developed technology	4-5 years	138,342		(112,347)		25,995		4.5 years
Trademarks	9 years	19,700		(7,384)		12,316		5.4 years
Favorable leases	6 years	198		(114)		84		2.5 years
Total		$	460,266	$	(201,950)	$	258,316

Amortization expense related to intangibles for the years ended December 31, 2022, 2021 and 2020 were $39,857, $52,576 and $58,090, respectively.

Amortization expense for the subsequent five years and thereafter is as follows:


2023	38,717
2024	37,809
2025	34,113
2026	29,880
2027	20,616
2028 and thereafter	56,423
	$	217,558

Internal use software, net - Amortization Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Internal Use Software [Abstract]
2023	$ 10,653
2024	8,570
2025	4,340
2026	79
Total internal use software, net	$ 23,642	$ 18,100

Related-party transactions	12 Months Ended
Related-party transactions	Dec. 31, 2022
Related Party Transactions [Abstract]
Related-party transactions	Related-party transactions The Company incurs expenses for consulting services and other expenses related to services provided by Vista Consulting Group, LLC (“VCG”). Total expenses incurred by the Company for VCG (a Vista related party) were $77, $201 and $929 for the years ended December 31, 2022, 2021 and 2020. These costs were included in general and administrative expenses. There were no amounts due to VCG as of December 31, 2022 and 2021. The Company incurs various travel and other expenses related to services provided by Vista Equity Partners Management, LLC (“VEP”). The Company incurred expenses of $75, $27 and $134 during the years ended December 31, 2022, 2021 and 2020, respectively, for various travel and other expenses. These costs were included in general and administrative expenses. Amounts due to VEP were $13 and $0 as of December 31, 2022 and 2021, respectively. The Company had other related party transactions with companies owned by Vista that are immaterial individually and in the aggregate to the Consolidated Balance Sheets and Consolidated Statement of Operations and Comprehensive Income (Loss).

Basis of presentation and summary of significant accounting policies - Restricted Cash Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restricted Cash Rollforward [Roll Forward]
Restricted cash at beginning of period	$ 2,869	$ 2,987
Release of deposits for facilities leases no longer restricted	(26)	(1)
Release of deposits for medical claims	(49)	(117)
Restricted cash at end of period	$ 2,794	$ 2,869

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

The Company leases office spaces under non-cancelable lease terms and has a remaining lease term of up to 9.8 years, with a number of month-to-month leases that are accounted for as short-term leases. The weighted-average remaining term of the Company's operating leases was 4.8 years as of December 31, 2022. The weighted-average discount rate used to measure the present value of the operating lease liabilities was 5.5% as of December 31, 2022.

The following table presents components of lease cost recorded in the Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) for the year ended December 31, 2022.


	December 31, 2022
Lease costs:
Operating lease costs	$	7,141
Short-term lease costs	3,393
Variable lease costs	395
Sublease income	(2,624)
Total lease costs	$	8,306

For the year ended December 31, 2022, operating cash flows included $7,746 of cash paid for operating lease liabilities and $1,345 received from the sublease. As of December 31, 2022, there were no material operating leases that have not yet commenced.

As of December 31, 2022, the company has provided $2,275 in security deposits, recorded within Other long-term assets on the Company's Consolidated Balance Sheets.

As of December 31, 2022, the maturities of remaining lease payments included in the measurement of operating leases are as follows:


Year Ended December 31,
2023	$	7,780
2024	7,232
2025	7,309
2026	6,084
2027	2,093
Thereafter	3,933
Total lease payments	34,430
Less: imputed interest	$	(4,806)
Total operating lease liability	$	29,624

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS'/MEMBERS' EQUITY - USD ($)
$ in Thousands

Total

Members’ Interest

Common Stock

Additional paid-in capital

Accumulated other comprehensive income (loss)

Accumulated earnings (deficit)

Publica

Common Stock

Publica

Additional paid-in capital

Nobora SAS (Context)

Common Stock

Nobora SAS (Context)

Additional paid-in capital

Beginning balance, units (in shares) at Dec. 31, 2019

^[1]

134,034,604

Beginning balance, units at Dec. 31, 2019

$ 459,672

$ 553,862

$ 175

$ (94,365)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Repurchase of units/common stock (in shares)

^[1]

(35,090)

Repurchase of units/common stock

(167)

$ (145)

(22)

Units vested (in shares)

^[1]

39,980

Units vested

Foreign currency translation adjustment

4,348

Net income (loss)

(32,374)

Ending balance, units (in shares) at Dec. 31, 2020

^[1]

134,039,494

Ending balance, units at Dec. 31, 2020

431,479

$ 553,717

4,523

(126,761)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Repurchase of units/common stock (in shares)

^[1]

(99,946)

Repurchase of units/common stock

(1,204)

$ (413)

(791)

Units vested (in shares)

^[1]

17,486

Units vested

Options exercises (in shares)

^[1]

246,369

Option exercises

4,435

$ 1,075

$ 3,360

Foreign currency translation adjustment

(4,838)

Net income (loss)

(52,437)

Net loss prior to corporate conversion

(37,832)

Conversion to common stock (in shares)

(134,203,403)

^[1]

(134,203,403)

Conversion to Delaware corporation (Note 1)

$ (554,379)

$ 134

388,860

165,385

Rounding units/shares as a result of corporate conversion (in shares)

(17)

Rounding units/shares as a result of corporate conversion

Stock-based compensation

55,222

RSUs vested (in shares)

26,931

RSUs vested

150

Issuance of common stock in connection with initial public offering (in shares)

16,821,330

Issuance of common stock in connection with initial public offering

274,357

$ 17

274,340

Issuance of common stock for acquisition (in shares)

2,888,889

457,959

Issuance of common stock for acquisition

$ 49,631

$ 3

$ 49,628

$ 10,391

Net loss

$ (14,600)

(14,600)

Ending balance (in shares) at Dec. 31, 2021

154,398,495

Ending balance at Dec. 31, 2021

$ 767,190

$ 154

781,951

(315)

(14,600)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Repurchase of units/common stock (in shares)

(3,080,061)

Repurchase of units/common stock

(23,655)

$ (3)

(23,652)

Options exercises (in shares)

1,586,728

Option exercises

7,155

$ 2

7,153

Foreign currency translation adjustment

(2,584)

Net income (loss)

15,373

Stock-based compensation

44,733

RSUs vested (in shares)

1,084,966

RSUs vested

$ 1

Ending balance (in shares) at Dec. 31, 2022

153,990,128

Ending balance at Dec. 31, 2022

$ 808,216

$ 154

$ 810,186

$ (2,899)

$ 775

[1]	Amounts for periods prior to the Company’s conversion to a Delaware corporation have been retrospectively adjusted to give effect to the corporate conversion described in Note 1.

Segment data - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
Segment data - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 408,348	$ 323,513	$ 240,633
Long lived assets	25,199	1,413
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	279,254	204,341	148,276
Long lived assets	16,016	876
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	96,679	86,187	67,691
Long lived assets	6,419	181
APAC
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	32,415	32,985	$ 24,666
Long lived assets	$ 2,764	$ 356

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Segment data - Narrative (Details) $ in Thousands	12 Months Ended
Segment data - Narrative (Details) $ in Thousands	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment	1
Revenue	$ 408,348	$ 323,513	$ 240,633
United States
Segment Reporting Information [Line Items]
Revenue	$ 264,166	$ 188,636	$ 142,118

- Definition

+ References

+ Details

Employee contribution plans	12 Months Ended
Employee contribution plans	Dec. 31, 2022
Retirement Benefits [Abstract]
Employee contribution plans	Employee contribution plansThe Company is a sponsor of certain qualified defined contribution plans covering all eligible employees. Such plans provide for matching contributions and in certain plans profit-sharing contributions. The Company made matching contributions of $4,062 and $2,474 for the years ended December 31, 2022 and 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI https://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Basis of presentation and summary of significant accounting policies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2022
Accounting Policies [Abstract]
Employee retention tax credit	$ 6,981,000	$ 0	$ 0
Foreign currency translation gains (losses)	(2,584,000)	(4,838,000)	4,348,000
Realized gain (loss) on foreign currency translation	480,000	(621,000)	(706,000)
Goodwill, impairment loss	0	0	0
Contract liability	99,000	160,000
Payments to acquire software	15,379,000	13,654,000	9,380,000
Internal use software payable	$ 1,517,000	859,000
Estimated Useful Life	3 years
Advertising expense	$ 2,333,000	1,861,000	$ 690,000
Deferred offering costs	0	$ 7,233,000
Operating lease right-of-use assets, net	22,787,000			$ 21,666,000
Lease liability	$ 29,624,000			$ 29,361,000

Income taxes - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
United States	$ 6,819	$ (63,686)	$ (50,764)
Foreign Operations	6,266	7,711	5,314
Net income (loss) before benefit from taxes	$ 13,085	$ (55,975)	$ (45,450)

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126941158&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Internal use software, net (Tables)

12 Months Ended

Dec. 31, 2022

Internal Use Software [Abstract]

Schedule of Internal Use Software, Net

Internal use software consisted of the following:


		December 31,
	Estimated Useful Life	2022		2021
Internal use software	3 - 5 years	$	47,658	$	32,591
Less: Assets written off		(199)		—
Less: Accumulated amortization		(23,817)		(14,491)
Total internal use software, net		$	23,642	$	18,100

Capitalized Software Amortization Expense

The estimated amortization expense for assets held at December 31, 2022 is as follows:


	Estimated Amortization Expense
2023	10,653
2024	8,570
2025	4,340
2026	$	79
Total	$	23,642

Long-term debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments


	December 31,
	2022		2021
Revolver	$	225,000	$	245,000
Less: Unamortized long-term debt issuance costs	(1,738)		(2,202)
Total carrying amount	$	223,262	$	242,798

Schedule of Future Principal Payments of Long-term Debt

Future principal payments of long-term debt as of December 31, 2022 are as follows:


Year Ending December 31,
2023	—
2024	—
2025	—
2026	225,000
Total principal payments	$	225,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644

+ Details

Commitments and contingencies - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Commitments [Line Items]
Facility exit costs		$ 0	$ 6,600	$ 0
Cease use liability (short-term)	$ 1,298	0	1,298
Cease use liability (long-term)	5,689	0	5,689
Write down of property plant and equipment		294	8,786
Purchase obligation		$ 104,444
Furniture and Equipment
Other Commitments [Line Items]
Write down of property plant and equipment	132
New York Corporate Headquarters Facility Exit
Other Commitments [Line Items]
Deferred rent credit	1,216		1,216
Sublease commissions	747		747
Facility exit costs	6,519
Facility Closing \| New York Corporate Headquarters Facility Exit
Other Commitments [Line Items]
Cease-use liability	$ 6,987		$ 6,987

Segment data (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

The following table summarizes revenue by geographic area:


	December 31,
	2022		2021		2020
Revenue:
Americas	$	279,254	$	204,341	$	148,276
EMEA	96,679		86,187		67,691
APAC	32,415		32,985		24,666
Total	$	408,348	$	323,513	$	240,633

The following table summarizes long lived assets (including property and equipment, net and operating lease right-of-use assets), net by geographic area for the years ended December 31, 2022 and 2021:


	December 31,
	2022		2021
Long lived assets:
Americas	$	16,016	$	876
EMEA	6,419		181
APAC	2,764		356
Total	$	25,199	$	1,413

Segment data

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment data

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), in deciding how to allocate resources and in assessing performance. The Company’s Chief Executive Officer is the CODM.

The Company manages its operations as a single segment for the purpose of assessing and making operating decisions. The Company’s CODM allocates resources and assesses performance based upon financial information at the consolidated level. Since the Company operates in one operating segment, all required financial segment information can be found in the consolidated financial statements.

The following table summarizes revenue by geographic area:


	December 31,
	2022		2021		2020
Revenue:
Americas	$	279,254	$	204,341	$	148,276
EMEA	96,679		86,187		67,691
APAC	32,415		32,985		24,666
Total	$	408,348	$	323,513	$	240,633

For the years ended December 31, 2022, 2021 and 2020, revenue in the U.S. was $264,166, $188,636 and $142,118, respectively.


	December 31,
	2022		2021
Long lived assets:
Americas	$	16,016	$	876
EMEA	6,419		181
APAC	2,764		356
Total	$	25,199	$	1,413

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Business combinations

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Business combinations

Publica

On August 9, 2021, a wholly-owned subsidiary of the Company acquired, directly or indirectly, all the membership units and membership interests of Publica. The purchase price related to this acquisition was $171,366 in cash of which $680 was included in acquisitions payable as of December 31, 2021 and 2,888,889 shares of common stock of the Company, valued at $49,631. The acquisition was financed with proceeds received from the Company's IPO, as described in Note 1, "Description of business."

The Publica acquisition was accounted for in accordance with ASC 805, Business Combinations ("ASC 805"), using the acquisition method of accounting. The assets and liabilities of Publica, including identifiable intangible assets, have been measured at their fair value primarily using Level 3 inputs. Determining the fair value of the assets acquired and liabilities assumed required judgment and involved the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, assets useful lives, market multiples, and other items. The use of different estimates and judgements could yield materially different results.

The fair value of the customer relationship intangible asset acquired was determined using the excess earnings method. The estimated fair value of the trademark and developed technology intangible assets acquired were determined using the relief from royalty method.

The excess of the purchase price, over the fair value of net assets acquired, including the amount assigned to the identifiable intangible assets, has been recorded to goodwill. The resulting goodwill has been allocated to the Company's single reporting unit. Goodwill deductible for tax purposes is $57,972.

The allocation of purchase consideration to the assets acquired and liabilities assumed is as follows:


	Fair Value		Useful Life
Assets acquired:
Cash and cash equivalents	$	4,482
Accounts receivable	2,391
Property, plant and equipment	46
Taxes receivable and prepaid expenses	188
Security deposits	12
Intangible assets:
Developed technology	15,200		5 years
Trademarks	2,200		5 years
Customer relationships	42,800		6 years
Total intangible assets	60,200
Total identifiable assets acquired	$	67,319
Liabilities assumed:
Accounts payable	$	560
Other current liabilities	2
Deferred tax liability	36,161
Total liabilities assumed	36,723
Goodwill	190,401		Indefinite
Total purchase consideration	$	220,997

Context

On December 31, 2021, a wholly-owned subsidiary of the Company acquired, directly or indirectly, all the common equity of Nobora SAS ("Context"). The acquisition builds on the Company's current, market-leading media classification and contextual targeting capabilities. The integration of Context's technology will enable marketing partners to identify brand suitable content beyond standard frameworks and contextually target with granularity. The purchase price related to this acquisition was $22,575 in cash, of which $967 is payable on December 31, 2023, and 457,959 shares of common stock of the Company, valued at $10,391.

The Context acquisition was accounted for in accordance with ASC 805, using the acquisition method of accounting. The assets and liabilities of Context, including identifiable intangible assets, have been measured at their fair value primarily using Level 3 inputs. Determining the fair value of the assets acquired and liabilities assumed required judgement and involved the use of significant estimates and assumptions, including assumptions with respect to discount rates, opportunity costs, and assets useful lives. The use of different estimates and judgements could yield materially different results.

The fair values allocated to the assets acquired are based on management's estimates and assumptions and may be subject to change as additional information becomes available. The estimated fair value of the developed technology intangible asset acquired was determined using the cost method.

The allocation of purchase consideration to the assets acquired and liabilities assumed is as follows:


	Fair Value		Useful Life
Assets acquired:
Accounts receivable	$	122
Other assets	112
Developed technology	7,670		5 years
Total identifiable assets acquired	$	7,904
Liabilities assumed:
Accounts payable	$	318
Short-term debt	2,354
Deferred tax liability	142
Total liabilities assumed	2,814
Goodwill	27,876		Indefinite
Total purchase consideration	$	32,966

The Company recognized a deferred tax liability of $142 on its purchase of Context.

We have included the financial results of business combinations in the consolidated financial statements from the respective dates of acquisition, which were not material. Pro forma revenue and earnings amounts on a combined basis have not been presented as the impacts were not material.

Income taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income taxes

Integral Ad Science Holding LLC, filed a check the box election to be treated as a regarded entity for U.S. federal income tax purposes. The components of net income/(loss) before benefit from income taxes for the years ended December 31, 2022, 2021, and 2020 are as follows:


	December 31,
	2022		2021		2020
United States	$	6,819	$	(63,686)	$	(50,764)
Foreign Operations	6,266		7,711		5,314
Net income (loss) before benefit from taxes	$	13,085	$	(55,975)	$	(45,450)

The components of the benefit from income taxes are as follows:


	December 31,
	2022		2021		2020
Current tax (benefit) provision
Federal	$	1,094	$	544	$	(220)
Foreign	3,497		3,715		1,672
State and Local	2,001		1,865		784
Current tax benefit	6,592		6,124		2,236
Deferred tax (benefit) provision
Federal	(661)		(5,812)		(8,467)
Foreign	(1,185)		(1,373)		102
State and local	(7,034)		(2,477)		(6,947)
Deferred tax benefit	(8,880)		(9,662)		(15,312)
Benefit from income taxes	$	(2,288)	$	(3,538)	$	(13,076)

The following table presents a reconciliation of the statutory federal rate and the Company’s effective tax rate for the periods presented:


	December 31,
	2022	2021	2020
U.S. federal statutory income tax rate	21.0%	21.0%	21.0%
State income taxes, net of federal benefit	(41.3)	1.7	13.9
Effect of non-U.S. operations	(0.7)	(0.4)	(0.3)
Section 162(m)	24.4	(10.9)	—
Stock-based compensation	23.8	(0.9)	—
Transaction expenses	(14.7)	(1.4)	—
US tax on foreign earnings	(6.5)	(5.7)	—
R&D and other credits	(23.3)	3.7	—
Change in valuation allowance	—	(1.0)	—
CARES Act1	—	—	(1.8)
Other	(0.2)	0.2	(4.0)
Benefit from income taxes	(17.5)%	6.3%	28.8%

The income tax benefit for December 31, 2022 relates primarily to R&D credit, favorable change in state tax rates, and deductible transaction costs. The income tax benefit for the years ended December 31, 2021 and 2020 relates principally to current period U.S. losses.

On August 16, 2022, Congress passed the Inflation Reduction Act of 2022. The key tax provisions applicable to us are a 15% corporate minimum tax on book income and a 1% excise tax on stock repurchases effective January 1, 2023. We do not expect these tax law changes to have a material impact on our consolidated financial position; however, we will continue to evaluate their impact as further information becomes available.

__________________

1In the U.S., on March 27, 2020, the President signed the CARES Act into law to provide economic stimulus during a country-wide shutdown.

Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The components of net deferred tax liability for the years ended December 31, 2022 and 2021 are as follows:


	December 31,
	2022		2021
Deferred tax assets
Net Operating Loss (“NOL”) and other carryforwards	$	11,187	$	29,187
Stock-based compensation	4,886		7,962
Interest expense carryforward	3,774		7,528
Tax credit carryforward	3,032		2,447
Lease liability	7,582		2,237
Payroll and commissions	2,812		293
Allowance for doubtful accounts	1,764		343
Section 174 capitalized costs	8,573		—
Accrued expenses and other liabilities	1,231		32
Total deferred tax assets	44,841		50,029
Valuation allowance	(3,217)		(3,421)
Net deferred tax assets	41,624		46,608
Deferred tax liabilities
Depreciation and amortization	(42,962)		(63,935)
Outside basis difference	(36,056)		(35,246)
Right of use asset	(6,080)		—
Capital lease assets	—		(62)
Total deferred tax liabilities	(85,098)		(99,243)
Net deferred tax liability	$	(43,474)	$	(52,635)

Deferred tax liabilities and assets are recognized for the expected future tax consequences of events that have been reflected in the consolidated financial statements. Deferred tax liabilities and assets are determined based on the differences between the book and tax bases of particular assets and liabilities, using tax rates in effect for the years in which the differences are expected to reverse. A valuation allowance is provided to offset deferred tax assets if, based upon the available evidence, it is more-likely-than-not that some or all of the deferred tax assets will not be realized. In evaluating our ability to recover deferred tax assets within the jurisdiction from which they arise, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would not be able to realize our deferred tax assets in the future, we would record a valuation allowance, which would increase the provision for income taxes.

The Company evaluates the realizability of deferred tax assets on a jurisdictional basis at each reporting date. A valuation allowance is established when it is more likely than not that all or a portion of the deferred tax assets will not be realized. In circumstances where there is sufficient negative evidence indicating that the deferred tax assets are not realizable, the Company establishes a valuation allowance. The Company recorded valuation allowances in the amounts of $3,217 and $3,421 at December 31, 2022 and 2021, respectively. The Company recorded a valuation allowance against NOL carryforwards and foreign tax credits.

The Company has not provided for U.S. federal income and foreign withholding taxes on undistributed earnings from non-U.S. operations as of December 31, 2022 because the Company intends to reinvest such earnings indefinitely outside of the United States. If the Company were to distribute these earnings, foreign tax credits may become available under current law to reduce the resulting U.S. income tax liability. The amount of any unrecognized deferred tax liability related to these earnings is not practicable to determine.

As of December 31, 2022, the Company had approximately $10,000 as compared to $79,800 as of December 31, 2021 in U.S. federal net operating losses and $170,600 and $164,300 as of December 31, 2022 and 2021 respectively, in state net operating losses. As a result of the Tax Cuts and Jobs Act, federal NOLs generated in tax years ending after December 31, 2017 are limited to a deduction of 80% of the taxpayer’s taxable income. Furthermore, the post 2017 federal NOLs are subject to an indefinite carryforward period; therefore, $10,000 and $79,800 of as of December 31, 2022 and 2021, respectively, of the federal NOL may be carried forward indefinitely. The majority of the Company’s state net operating loss carryforwards will begin to expire, if not utilized, in 2029. Not all states have conformed to the Tax Cuts and Jobs Act; therefore, there are some states with indefinite carryforward periods. The Company has foreign NOL carryforwards of approximately $2,500 and $9,500 at December 31, 2022 and 2021, respectively, the majority of which are indefinite lived.

The changes in valuation allowances against deferred income tax assets were as follows:


	December 31,
	2022		2021
Balance at beginning of year	$	3,421	$	—
Additions charged to income tax expense	296		815
Reductions credited to income tax expense	(500)		—
Additions charged to other accounts	—		2,606
Balance at end of year	$	3,217	$	3,421

Uncertain tax positions

The Company has adopted certain provisions of ASC 740, “Income Taxes,” which prescribes a recognition threshold and measurement attribute for the recognition and measurement of tax positions taken or expected to be taken in income tax returns. The provisions also provide guidance on the de-recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities and accounting for interest and penalties associated with tax positions.

As of December 31, 2022, the Company had $2,808 of unrecognized tax benefits, which represents an amount that, if recognized, would impact the effective tax rate in future periods. As of December 31, 2021, the Company had $932 of unrecognized tax benefits. Accrued liabilities for interest and penalties were $70 for December 31, 2022.

Unrecognized tax benefits activity is summarized below:


	December 31,
	2022		2021
Balance at beginning of year	$	932	$	—
Additions based on tax positions related to the current year	896		531
Additions based on tax positions related to prior years	980		401
Reductions due to lapse in status of limitations and settlements	—		—
Balance at end of year	$	2,808	$	932

The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions and several foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years prior to 2018. However, to the extent the Company generated NOLs or tax credits in closed tax years, future use of the NOL or tax credit carryforward balance would be subject to examination within the relevant statute of limitations for the year in which it was utilized. Given the uncertainty regarding when tax authorities will complete their examinations and the possible outcomes of their examinations, a current estimate of the range of reasonably possible significant increases or decreases of income tax that may occur within the next twelve months cannot be made. There are currently no income tax audits ongoing.

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Condensed Financial Information of Registrant (Parent Company Only) - Balance Sheet (Details) - USD ($)
$ / shares in Units, $ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Current assets:

Cash and cash equivalents

$ 86,877

$ 73,210

Total current assets

221,146

170,165

Total assets

1,168,683

1,129,537

Current liabilities:

Total current liabilities

67,769

56,491

Total liabilities

360,467

362,347

Commitments and Contingencies (Note 15)

Stockholders’ Equity

Common Stock, $0.001 par value, 500,000,000 shares authorized at December 31, 2022, 153,990,128 and 154,398,495 shares issued and outstanding at December 31, 2022 and 2021, respectively

154

Additional paid-in-capital

^[1]

810,186

781,951

Accumulated other comprehensive (loss) income

(2,899)

(315)

Accumulated earnings (deficit)

^[1]

775

(14,600)

Total stockholders’ equity

808,216

767,190

Total liabilities and stockholders’ equity

$ 1,168,683

$ 1,129,537

Common stock, par value (in usd per share)

$ 0.001

Common stock, shares authorized (in shares)

500,000,000

Common stock, shares, issued (in shares)

153,990,128

154,398,495

Common stock, shares, outstanding (in shares)

153,990,128

154,398,495

Parent Company

Current assets:

Cash and cash equivalents

$ 0

Total current assets

Investment in subsidiaries

808,216

767,190

Total assets

808,216

767,190

Current liabilities:

Total current liabilities

Total liabilities

Commitments and Contingencies (Note 15)

Stockholders’ Equity

Units, $0 par value, 0 units authorized at December 31, 2022, 0 units issued and outstanding at December 31, 2022 and 2021

Common Stock, $0.001 par value, 500,000,000 shares authorized at December 31, 2022, 153,990,128 and 154,398,495 shares issued and outstanding at December 31, 2022 and 2021, respectively

154

Additional paid-in-capital

810,186

781,951

Accumulated other comprehensive (loss) income

(2,899)

(315)

Accumulated earnings (deficit)

775

(14,600)

Total stockholders’ equity

808,216

767,190

Total liabilities and stockholders’ equity

$ 808,216

$ 767,190

Member units, par value (in usd per share)

$ 0

Member units, shares authorized (in shares)

Member units, shares issued (in shares)

Member units, shares outstanding (in shares)

Common stock, par value (in usd per share)

$ 0.001

Common stock, shares authorized (in shares)

500,000,000

Common stock, shares, issued (in shares)

153,990,128

154,398,495

Common stock, shares, outstanding (in shares)

153,990,128

154,398,495

[1]	Balances prior to the Company’s conversion to a Delaware corporation have been reclassified to additional paid-in capital to give effect to the corporate conversion described in Note 1.

Intangible assets, net - Amortization Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 38,717
2024	37,809
2025	34,113
2026	29,880
2027	20,616
2028 and thereafter	56,423
Net Book Value	$ 217,558	$ 258,316

Intangible assets, net (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Gross Book Value, Accumulated Amortization, Net Book Value and Amortization Periods of Intangible Assets

The gross book value, accumulated amortization, net book value and amortization periods of the intangible assets were as follows:


		December 31, 2022
	Estimated Useful Life	Gross Book Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life
Customer relationships	5-15 years	$	301,955	$	(112,589)	$	189,366	9.5 years
Developed technology	4-5 years	137,112		(118,650)		18,462		3.5 years
Trademarks	9 years	19,700		(10,021)		9,679		4.4 years
Favorable leases	6 years	198		(147)		51		1.5 years
Total		$	458,965	$	(241,407)	$	217,558


		December 31, 2021
	Estimated Useful Life	Gross Book Value		Accumulated Amortization		Net Book Value		Weighted Average Remaining Useful Life
Customer relationships	5-15 years	$	302,026	$	(82,105)	$	219,921	10.4 years
Developed technology	4-5 years	138,342		(112,347)		25,995		4.5 years
Trademarks	9 years	19,700		(7,384)		12,316		5.4 years
Favorable leases	6 years	198		(114)		84		2.5 years
Total		$	460,266	$	(201,950)	$	258,316

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Amortization expense for the subsequent five years and thereafter is as follows:


2023	38,717
2024	37,809
2025	34,113
2026	29,880
2027	20,616
2028 and thereafter	56,423
	$	217,558

Members’/ Stockholders’ equity - Narrative (Details)
$ / shares in Units, $ in Thousands

12 Months Ended

Jul. 02, 2021

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

Dec. 31, 2020

USD ($)

Class of Stock [Line Items]

Common stock, shares authorized (in shares)

500,000,000

Common stock, par value (in usd per share) | $ / shares

$ 0.001

Preferred stock, shares authorized (in shares)

50,000,000

Preferred stock, par value (in usd per share) | $ / shares

$ 0.001

Option exercises | $

$ 7,155

$ 4,435

Repurchase of units/common stock | $

$ 23,655

1,204

$ 167

Stock repurchased during period, value, in excess of par value | $

$ 791

Common Stock

Class of Stock [Line Items]

RSUs vested (in shares)

1,084,966

26,931

Options exercises (in shares)

1,586,728

Option exercises | $

$ 2

Repurchase of units/common stock (in shares)

3,080,061

Repurchase of units/common stock | $

$ 3

Stock issued during the period (in shares)

16,821,330

Conversion to common stock (in shares)

134,203,403

Ratio of conversion of member units to common stock (in shares)

242

Common Stock | Publica

Class of Stock [Line Items]

Issuance of common stock (in shares)

2,888,889

Common Stock | Nobora SAS (Context)

Class of Stock [Line Items]

Issuance of common stock (in shares)

457,959

Common Stock | IPO

Class of Stock [Line Items]

Stock issued during the period (in shares)

15,000,000

Common Stock | Over-Allotment Option

Class of Stock [Line Items]

Stock issued during the period (in shares)

1,821,330

Members’ Interest

Class of Stock [Line Items]

Options exercises (in shares)

^[1]

246,369

Option exercises | $

$ 1,075

Repurchase of units/common stock (in shares)

^[1]

99,946

35,090

Repurchase of units/common stock | $

$ 413

$ 145

Conversion to common stock (in shares)

134,203,403

^[1]

Stock repurchased during period, value, in excess of par value | $

$ 22

Units vested (in shares)

^[1]

17,486

39,980

Additional paid-in capital

Class of Stock [Line Items]

Option exercises | $

7,153

$ 3,360

Repurchase of units/common stock | $

$ 23,652

[1]	Amounts for periods prior to the Company’s conversion to a Delaware corporation have been retrospectively adjusted to give effect to the corporate conversion described in Note 1.

Leases - Maturities of Remaining Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022
Leases [Abstract]
2023	$ 7,780
2024	7,232
2025	7,309
2026	6,084
2027	2,093
Thereafter	3,933
Total lease payments	34,430
Less: imputed interest	(4,806)
Total operating lease liability	$ 29,624	$ 29,361

Leases - Lease Cost (Details) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
Operating lease costs	$ 7,141
Short-term lease costs	3,393
Variable lease costs	395
Sublease income	(2,624)
Total lease costs	$ 8,306

Accounts payable and accrued expenses and other long term liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following:


	December 31,
	2022		2021
Accounts payable	$	10,487	$	8,307
Accrued payroll	12,623		5,047
Accrued professional fees	3,150		2,334
Accrued bonuses and commissions	16,527		16,454
Accrued revenue sharing	3,522		8,497
Taxes payable	3,130		6,076
Short term debt	—		1,976
Accrued hosting fees	5,949		2,465
Cease use liability (short-term)	—		1,298
Other accrued expenses	5,411		3,803
Total accounts payable and accrued expenses	$	60,799	$	56,257

Other Noncurrent Liabilities

Other long-term liabilities consisted of the following:


	December 31,
	2022		2021
Purchase price payable for the acquisitions of Publica and Context	$	—	$	2,320
Cease use liability (long-term)	—		5,689
Security deposit received	672		672
Fin 48 liability	394		—
Total other long-term liabilities	$	1,066	$	8,681

Income taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 3,217	$ 3,421	$ 0
Operating loss carryforward, not subject to expiration	10,000	79,800
Unrecognized tax benefits	2,808	932	$ 0
Accrued liabilities for interest and penalties	70
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	10,000	79,800
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	170,600	164,300
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 2,500	$ 9,500

Income taxes - Change in Valuation Allowances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Asset, Valuation Allowance [Roll Forward]
Balance at beginning of year	$ 3,421	$ 0
Additions charged to income tax expense	296	815
Reductions credited to income tax expense	(500)	0
Additions charged to other accounts	0	2,606
Balance at end of year	$ 3,217	$ 3,421

Basis of presentation and summary of significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Restricted Cash

The following table provides a roll forward of the changes in the restricted cash balance:


Restricted cash as of January 1, 2021	2,987
Release of deposits for facilities leases no longer restricted	(1)
Release of deposits for medical claims	(117)
Restricted cash as of December 31, 2021	2,869
Release of deposits for facilities leases no longer restricted	(26)
Release of deposits for medical claims	(49)
Restricted cash as of December 31, 2022	$	2,794

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets to the amounts shown in the Consolidated Statements of Cash Flows.


	December 31,
	2022		2021
Cash and cash equivalents	$	86,877	$	73,210
Short-term restricted cash	45		70
Long-term restricted cash (held in other long-term assets)	2,749		2,798
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	89,671	$	76,078

Schedule of Cash and Cash Equivalents


	December 31,
	2022		2021
Cash and cash equivalents	$	86,877	$	73,210
Short-term restricted cash	45		70
Long-term restricted cash (held in other long-term assets)	2,749		2,798
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	89,671	$	76,078

Schedule of Allowance for Doubtful Accounts

The activity in our allowance for doubtful accounts consists of the following:


	December 31,
	2022		2021		2020
Balance at beginning of year	$	5,883	$	4,257	$	5,843
Additional provision	1,837		3,024		2,200
Receivables written-off/reversals	(1,029)		(1,398)		(3,786)
Balance at the end of year	$	6,691	$	5,883	$	4,257

Schedule of Valuation Assumptions of Stock Options


	December 31,
	2022			2021			2020(1)
Estimated fair value	$3.26	-	$15.15	$8.16	-	$14.04	$2.29
Expected volatility (%)	70%	-	80%	65.0%	-	80.0%	70.0%	-	75.0%
Expected term (in years)	0.50	-	4.00	3.00	-	10.00	3.25	-	6.63
Risk-free interest rate (%)	2.96%	-	3.97%	0.46%	-	0.98%	0.26%	-	0.55%
Dividend yield	—			—			—

(1) For issuances prior to the pricing of the IPO, the fair value of the Company’s option grants was estimated at the grant date using the Monte Carlo simulation model and relate to the Return-Target Options only as the Time-Based Options were not within the scope of ASC 718, Compensation - Stock Compensation for the year ended December 31, 2020.

Stock-based compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Time Based Options
Options
Stock options - beginning balance (in shares)	6,648,975	6,109,427	5,679,152
Stock options - granted (in shares)	0	1,381,646	1,628,068
Stock options - canceled or forfeited (in shares)	(810,957)	(595,729)	(1,197,793)
Stock options - exercised (in shares)	(1,586,728)	(246,369)	0
Stock options - ending balance (in shares)	4,251,290	6,648,975	6,109,427	5,679,152
Stock options - vested and expected to vest (in shares)	4,251,290	6,648,975	6,109,427
Stock options - exercisable (in shares)	3,033,235	3,169,868	1,848,880
Weighted Average Exercise Price
Weighted average exercise price - beginning balance (in usd per share)	$ 7.46	$ 4.82	$ 4.17
Weighted average exercise price - granted (in usd per share)	0	17.49	6.77
Weighted average exercise price - canceled or forfeited (in usd per share)	10.04	4.95	4.34
Weighted average exercise price - exercised (in usd per share)	4.51	4.36	0
Weighted average exercise price - ending balance (in usd per share)	8.07	7.46	4.82	$ 4.17
Weighted average exercise price - vested and expected to vest (in usd per share)	8.07	7.46	4.82
Weighted average exercise price - exercisable (in usd per share)	$ 6.34	$ 4.47	$ 4.17
Weighted Average Remaining Contractual Life (years)
Weighted average remaining contractual life (years)	6 years 11 months 19 days	7 years 9 months 3 days	8 years 5 months 19 days	9 years 1 month 6 days
Weighted average remaining contractual life (years) - granted		9 years 1 month 20 days	9 years 7 months 6 days
Weighted average remaining contractual life (years) - vested and expected to vest	6 years 11 months 19 days	7 years 9 months 3 days	8 years 5 months 19 days
Weighted average remaining contractual life (years) - exercisable	6 years 7 months 2 days	6 years 2 months 12 days	8 years 1 month 28 days
Intrinsic Value
Aggregate intrinsic value	$ 12,163	$ 98,055	$ 0	$ 0
Aggregate intrinsic value - vested and expected to vest	12,163	98,055	0
Aggregate intrinsic value - exercisable	$ 10,878	$ 56,227	$ 0
Return Target Options
Options
Stock options - beginning balance (in shares)	3,265,126	3,054,701	2,839,574
Stock options - granted (in shares)	0	691,306	814,035
Stock options - canceled or forfeited (in shares)	(1,111,862)	(480,881)	(598,908)
Stock options - exercised (in shares)	0	0	0
Stock options - ending balance (in shares)	2,153,264	3,265,126	3,054,701	2,839,574
Stock options - vested and expected to vest (in shares)	2,153,264	3,265,126	3,054,701
Stock options - exercisable (in shares)	0	0	0
Weighted Average Exercise Price
Weighted average exercise price - beginning balance (in usd per share)	$ 7.53	$ 4.82	$ 4.17
Weighted average exercise price - granted (in usd per share)	0	17.49	6.77
Weighted average exercise price - canceled or forfeited (in usd per share)	6.54	4.69	4.34
Weighted average exercise price - exercised (in usd per share)	0	0	0
Weighted average exercise price - ending balance (in usd per share)	8.03	7.53	4.82	$ 4.17
Weighted average exercise price - vested and expected to vest (in usd per share)	8.03	7.53	4.82
Weighted average exercise price - exercisable (in usd per share)	$ 0	$ 0	$ 0
Weighted Average Remaining Contractual Life (years)
Weighted average remaining contractual life (years)	6 years 11 months 19 days	7 years 3 months 7 days	8 years 5 months 19 days	9 years 1 month 6 days
Weighted average remaining contractual life (years) - granted		9 years 1 month 20 days	9 years 7 months 6 days
Weighted average remaining contractual life (years) - vested and expected to vest	6 years 11 months 19 days	7 years 3 months 7 days	8 years 5 months 19 days
Intrinsic Value
Aggregate intrinsic value	$ 6,190	$ 47,947	$ 0	$ 0
Aggregate intrinsic value - vested and expected to vest	6,190	47,947	0
Aggregate intrinsic value - exercisable	$ 0	$ 0	$ 0

Property and equipment, net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 907	$ 1,719	$ 2,981
Impairment, Long -Lived Asset, Held-for-Use, Statement Of Income Or Comprehensive Income, Extensible Enumeration, Not Disclosed Flag	wrote off assets	wrote off assets
Write down of property plant and equipment	$ 294	$ 8,786
Capitalized computer and office equipment
Property, Plant and Equipment [Line Items]
Depreciation expense		291	$ 1,495
Write down of property plant and equipment		$ 6,073

Internal use software, net

12 Months Ended

Dec. 31, 2022

Internal Use Software [Abstract]

Internal use software, net

Internal use software consisted of the following:


		December 31,
	Estimated Useful Life	2022		2021
Internal use software	3 - 5 years	$	47,658	$	32,591
Less: Assets written off		(199)		—
Less: Accumulated amortization		(23,817)		(14,491)
Total internal use software, net		$	23,642	$	18,100

Amortization expense for the years ended December 31, 2022, 2021 and 2020 was $9,632, $7,768 and $4,813, respectively. During the year ended December 31 2021, the Company acquired internal-use software of $4,548, which expanded the Company’s Total Visibility® product offering and provided insight into digital media quality and corresponding supply path costs. For the year ended December 31, 2022 the Company wrote off $199 of costs related to projects that were no longer being implemented, recorded in general and administrative expenses within the Consolidated Statements of Operations and Comprehensive Income (Loss).

The estimated amortization expense for assets held at December 31, 2022 is as follows:


	Estimated Amortization Expense
2023	10,653
2024	8,570
2025	4,340
2026	$	79
Total	$	23,642

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 15,373	$ (52,437)	$ (32,374)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	50,396	62,286	65,708
Stock-based compensation	44,752	58,766	0
Foreign exchange loss, net	5,233	0	0
Deferred tax benefit	(8,880)	(9,662)	(15,312)
Loss on extinguishment of debt	0	3,721	0
Facility exit costs	0	6,519	0
Amortization of debt issuance costs	464	1,136	1,365
Allowance for doubtful accounts	1,837	3,024	2,200
Non-cash interest expense	0	394	4,483
Employee retention tax credit	(6,981)	0	0
Write off of assets	974	218	(10)
Changes in operating assets and liabilities:
Increase in accounts receivable	(18,581)	(9,095)	(4,426)
Increase in unbilled receivables	(5,830)	(8,504)	(3,910)
Increase (decrease) in prepaid expenses and other current assets	(10,641)	(3,617)	264
Increase in operating leases, net	(852)
Increase in other long-term assets	(1,057)	(614)	0
Increase in accounts payable and accrued expenses and other long-term liabilities	6,286	12,246	16,114
Increase in accrued rent	0	260	202
Decrease in deferred revenue	(88)	(976)	(367)
Increase (decrease) in due to/from related party	62	(70)	0
Net cash provided by operating activities	72,467	63,595	33,937
Cash flows from investing activities:
Payment for acquisitions, net of acquired cash	(1,603)	(186,435)	0
Purchase of property and equipment	(2,016)	(955)	(638)
Acquisition and development of internal use software and other	(14,673)	(12,702)	(9,024)
Net cash used in investing activities	(18,292)	(200,092)	(9,662)
Cash flows from financing activities:
Proceeds from initial public offering, net of underwriting discounts and commissions	0	281,589	0
Payments for offering costs	0	(7,233)	0
Repayment of long-term debt	(35,000)	(356,396)	0
Repayment of short-term debt	(1,816)	0	0
Proceeds from the Revolver	15,000	245,000	0
Payments for debt issuance costs	0	(2,318)	0
Principal payments on capital lease obligations	0	(326)	(1,529)
Cash paid for unit repurchases	0	(1,201)	(167)
Proceeds from exercise of stock options	7,155	1,075	0
Payments for repurchase of common stock	(23,655)	0	0
Cash received from Employee Stock Purchase Program (ESPP)	845	0	0
Net cash provided by (used in) financing activities	(37,471)	160,190	(1,696)
Net increase in cash, cash equivalents, and restricted cash	16,704	23,693	22,579
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	(3,111)	(2,336)	1,772
Cash, cash equivalents, and restricted cash, at beginning of year	76,078	54,721	30,370
Cash, cash equivalents, and restricted cash, at end of year	89,671	76,078	54,721
Cash paid during the year for:
Interest	8,511	17,109	21,440
Taxes	16,396	2,238	1,424
Non-cash investing and financing activities:
Assets acquired under capital leases	0	0	212
Property and equipment acquired included in accounts payable	97	105	130
Internal use software acquired included in accounts payable	1,517	859	810
Conversion of members’ equity to additional paid-in capital	0	$ 165,385	$ 0
Lease liabilities arising from right of use assets	$ 29,624

Income taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Benefit From Income Taxes

The components of net income/(loss) before benefit from income taxes for the years ended December 31, 2022, 2021, and 2020 are as follows:


	December 31,
	2022		2021		2020
United States	$	6,819	$	(63,686)	$	(50,764)
Foreign Operations	6,266		7,711		5,314
Net income (loss) before benefit from taxes	$	13,085	$	(55,975)	$	(45,450)

Schedule of Components of the (Benefit) Provision for Income Taxes

The components of the benefit from income taxes are as follows:


	December 31,
	2022		2021		2020
Current tax (benefit) provision
Federal	$	1,094	$	544	$	(220)
Foreign	3,497		3,715		1,672
State and Local	2,001		1,865		784
Current tax benefit	6,592		6,124		2,236
Deferred tax (benefit) provision
Federal	(661)		(5,812)		(8,467)
Foreign	(1,185)		(1,373)		102
State and local	(7,034)		(2,477)		(6,947)
Deferred tax benefit	(8,880)		(9,662)		(15,312)
Benefit from income taxes	$	(2,288)	$	(3,538)	$	(13,076)

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the statutory federal rate and the Company’s effective tax rate for the periods presented:


	December 31,
	2022	2021	2020
U.S. federal statutory income tax rate	21.0%	21.0%	21.0%
State income taxes, net of federal benefit	(41.3)	1.7	13.9
Effect of non-U.S. operations	(0.7)	(0.4)	(0.3)
Section 162(m)	24.4	(10.9)	—
Stock-based compensation	23.8	(0.9)	—
Transaction expenses	(14.7)	(1.4)	—
US tax on foreign earnings	(6.5)	(5.7)	—
R&D and other credits	(23.3)	3.7	—
Change in valuation allowance	—	(1.0)	—
CARES Act1	—	—	(1.8)
Other	(0.2)	0.2	(4.0)
Benefit from income taxes	(17.5)%	6.3%	28.8%

__________________

1In the U.S., on March 27, 2020, the President signed the CARES Act into law to provide economic stimulus during a country-wide shutdown.

Schedule of Deferred Tax Assets and Liabilities

The components of net deferred tax liability for the years ended December 31, 2022 and 2021 are as follows:


	December 31,
	2022		2021
Deferred tax assets
Net Operating Loss (“NOL”) and other carryforwards	$	11,187	$	29,187
Stock-based compensation	4,886		7,962
Interest expense carryforward	3,774		7,528
Tax credit carryforward	3,032		2,447
Lease liability	7,582		2,237
Payroll and commissions	2,812		293
Allowance for doubtful accounts	1,764		343
Section 174 capitalized costs	8,573		—
Accrued expenses and other liabilities	1,231		32
Total deferred tax assets	44,841		50,029
Valuation allowance	(3,217)		(3,421)
Net deferred tax assets	41,624		46,608
Deferred tax liabilities
Depreciation and amortization	(42,962)		(63,935)
Outside basis difference	(36,056)		(35,246)
Right of use asset	(6,080)		—
Capital lease assets	—		(62)
Total deferred tax liabilities	(85,098)		(99,243)
Net deferred tax liability	$	(43,474)	$	(52,635)

Summary of Valuation Allowance

The changes in valuation allowances against deferred income tax assets were as follows:


	December 31,
	2022		2021
Balance at beginning of year	$	3,421	$	—
Additions charged to income tax expense	296		815
Reductions credited to income tax expense	(500)		—
Additions charged to other accounts	—		2,606
Balance at end of year	$	3,217	$	3,421

Schedule of Unrecognized Tax Benefits Roll Forward

Unrecognized tax benefits activity is summarized below:


	December 31,
	2022		2021
Balance at beginning of year	$	932	$	—
Additions based on tax positions related to the current year	896		531
Additions based on tax positions related to prior years	980		401
Reductions due to lapse in status of limitations and settlements	—		—
Balance at end of year	$	2,808	$	932

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Current assets:

Cash and cash equivalents

$ 86,877

$ 73,210

Restricted cash

Accounts receivable, net

67,884

53,028

Unbilled receivables

41,550

36,210

Prepaid expenses and other current assets

24,761

7,632

Due from related party

Total current assets

221,146

170,165

Property and equipment, net

2,412

1,413

Internal use software, net

23,642

18,100

Intangible assets, net

217,558

258,316

Goodwill

674,094

676,513

Operating lease right-of-use assets, net

22,787

Deferred tax asset, net

2,020

887

Other long-term assets

5,024

4,143

Total assets

1,168,683

1,129,537

Current liabilities:

Accounts payable and accrued expenses

60,799

56,257

Operating lease liabilities, current

6,749

Due to related party

122

Deferred revenue

160

Total current liabilities

67,769

56,491

Accrued rent

854

Deferred tax liability, net

45,495

53,523

Long-term debt

223,262

242,798

Operating lease liabilities, non-current

22,875

Other long-term liabilities

1,066

8,681

Total liabilities

360,467

362,347

Commitments and Contingencies (Note 15)

Stockholders’ Equity

Preferred Stock, $0.001 par value, 50,000,000 shares authorized at December 31, 2022; 0 shares issued and outstanding at December 31, 2022 and 2021

Common Stock, $0.001 par value, 500,000,000 shares authorized at December 31, 2022, 153,990,128 and 154,398,495 shares issued and outstanding at December 31, 2022 and 2021, respectively

154

Additional paid-in-capital

^[1]

810,186

781,951

Accumulated other comprehensive loss

(2,899)

(315)

Accumulated earnings (deficit)

^[1]

775

(14,600)

Total stockholders’ equity

808,216

767,190

Total liabilities and stockholders’ equity

$ 1,168,683

$ 1,129,537

[1]	Balances prior to the Company’s conversion to a Delaware corporation have been reclassified to additional paid-in capital to give effect to the corporate conversion described in Note 1.

Commitments and contingencies	12 Months Ended
Commitments and contingencies	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Indemnifications In its normal course of business, the Company has made certain indemnities, commitments, and guarantees under which it may be required to make payments in relation to certain transactions. Those indemnities include intellectual property indemnities to the Company’s customers, indemnities to directors and officers of the Company to the maximum extent permitted under the laws of the State of Delaware, and indemnifications related to the Company’s lease agreements. In addition, the Company’s advertiser and distribution partner agreements contain certain indemnification provisions which are generally consistent with those prevalent in the Company’s industry. The Company has not incurred any obligations under indemnification provisions historically and does not expect to incur significant obligations in the future. Accordingly, the Company has not recorded any liability for these indemnities, commitments, and guarantees in the accompanying balance sheets. Facility Exit Costs In December 2021, the Company vacated its New York Corporate Headquarters and agreed to a sublease agreement through the remainder of the lease term. In connection with these actions, the Company recognized a cease-use liability in accordance with ASC 420, Exit or Disposal Cost Obligations, for costs that would continue to be incurred under the terms of the lease without any economic benefit. The fair value of the cease-use liability of $6,987 was estimated at the cease-use date based on the remaining lease payments, reduced by future sublease income, adjusted for the remaining balance of deferred rent of $1,216, and offset by commission on sublease of $747. This resulted in a facility exit charge of $6,519 recorded to 'Facility exit costs' within the Consolidated Statements of Operations and Comprehensive Income (Loss). In December 2021, the Company recognized the cease-use liability of $1,298 in 'Accounts payable and accrued expenses' and $5,689, in 'Other long-term liabilities.' Refer to Note 8, "Accounts payable and accrued expenses and other long-term liabilities," for details. In addition to the cease-use liability, the Company also recognized an impairment write-down of $132 for furniture and equipment which was no longer expected to be used in operations. As a result of the Company adopting ASC 842, the cease-use liability was combined into the initial ROU assets and lease liabilities recorded to the Consolidated Balance Sheets. Refer to Note 2(v), Basis of presentation and significant accounting policies, for additional information. Purchase commitments In the ordinary course of business, the Company enters into various purchase commitments primarily related to third-party cloud hosting and data services, and information technology operations. Total non-cancelable purchase commitments as of December 31, 2022 were approximately $104,444 for periods through 2026.

Net income (loss) per share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Basic and Diluted

Basic and diluted loss per share is computed by dividing net income (loss) by the weighted-average shares outstanding:


	December 31,
	2022		2021		2020
Numerator:
Net income (loss)	$	15,373	$	(52,437)	$	(32,374)
Denominator:
Basic Shares:
Weighted average shares outstanding	154,699,694		143,535,546		134,044,284
Diluted Shares:
Basic weighted average shares outstanding	154,699,694		143,535,546		134,044,284
Dilutive effect of stock based awards	2,558,389		—		—
Weighted-average diluted shares outstanding	157,258,083		143,535,546		134,044,284
Net income (loss) per share, basic and diluted	$	0.10	$	(0.37)	$	(0.24)

Schedule of Antidilutive Securities Excluded From Computation of Earnings Per Share

The following potential outstanding Time-Based Service Options and RSUs were excluded from the computation of diluted net income (loss) per share attributable to common stock/unit-holders for the years presented because including them would have been antidilutive. Since the conditions associated with the vesting of the Return Target Options, RSUs and MSUs have not occurred as of the reporting date, such options are excluded from the table below.


	December 31,
	2022	2021	2020
Options to purchase common stock/member units	4,464,179	6,648,975	6,109,427
RSUs	1,834,100	2,426,147	—
MSUs	417,010	—	—
Total	6,715,289	9,075,122	6,109,427

Basis of presentation and summary of significant accounting policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of presentation and summary of significant accounting policies

This summary of significant accounting policies is presented to assist in understanding the Company’s consolidated financial statements. These accounting policies have been consistently applied in the preparation of the consolidated financial statements.

(a) Basis of presentation

The Company’s consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and reflect the financial position, results of operations and cash flows for all periods presented.

The Company is an Emerging Growth Company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, Emerging Growth Companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an Emerging Growth Company or (ii) it affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. The adoption dates discussed below reflect this election.

During the year ended December 31, 2022, the Company reclassified foreign exchange loss, net from "General and administrative" expenses within the Consolidated Statement of Operations and Comprehensive Income (Loss) as a separate line item "Foreign currency translation adjustments" presented on the Consolidated Statement of Operations and Comprehensive Income (Loss). Corresponding prior period amounts have also been reclassified to conform to current period presentation.

(b) Basis of consolidation

The consolidated financial statements include the accounts of Integral Ad Science Holding, Corp. and its wholly-owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates include fair value of assets acquired in business combinations, including assumptions with respect to future cash inflows and outflows, discount rates, assets useful lives, market multiples, the allocation of purchase price consideration in the business combination valuation of acquired assets and liabilities, the estimated useful lives of intangible assets and internal use software, the allowance for doubtful accounts, goodwill impairment testing; assumptions used to calculate equity-based compensation, and the realization of deferred tax assets. The Company bases its estimates on past experience, market conditions, and other assumptions that the Company believes are reasonable under the circumstances, and the Company evaluates these estimates on an ongoing basis. Actual results may differ from these estimates due to risks and uncertainties, including the continued uncertainty surrounding rapidly changing market and economic conditions due to heightened inflation, changes to fiscal and monetary policy, higher interest rates, currency fluctuations, challenges in the supply chain, disruptions in European economies as a result of the conflict in Ukraine and ongoing effects of the COVID-19 pandemic.

(d) Employee retention tax credit

The Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") provided an employee retention credit which was a refundable tax credit against certain employment taxes. The Consolidated Appropriations Act (the "Appropriations Act") extended and expanded the availability of the employee retention credit through December 31, 2021. The Appropriations Act amended the employee retention credit to be equal to 70% of qualified wages paid to employees during the 2021 fiscal year.

The Company qualified for the employee retention credit beginning in March 2020 for qualified wages through June 2021 and filed a cash refund claim during the year ended December 31, 2022. The Company recorded an employee retention credit totaling $6,981, within Employee retention tax credit on the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). As of December 31, 2022, the tax credit receivable has been included within Prepaid expenses and other current assets on the Company's Consolidated Balance Sheets.

(e) Foreign currency

The reporting currency of the Company is the U.S. dollar. The functional currency of our foreign subsidiaries is the currency of the primary economic environment in which they operate, which is their local currency. The financial statements of these subsidiaries are translated into U.S. dollars using month-end rates of exchange for assets and liabilities, and average rates of exchange for revenue, costs and expenses. Translation gains and losses are recorded in accumulated other comprehensive income (loss) in stockholders’ equity. The Company recorded translation losses of $2,584 and $4,838 and gains of $4,348 for the years ended December 31, 2022, 2021, and 2020, respectively. Transaction gains and losses including those on intercompany transactions denominated in a currency other than the functional currency of the entity involved are included in foreign exchange gain (loss) in the Consolidated Statement of Operations and Comprehensive Income (Loss). The Company recorded transaction gains of $480 and losses of $621 and $706 for the years ended December 31, 2022, 2021 and 2020, respectively.

(f) Concentrations of credit risk

Our assets that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable.

Cash equivalents consist of money market funds, which are invested through financial institutions in the United States. Such deposits may, at times, exceed federally insured limits. The Company has not experienced any losses in such amounts and believes it is not exposed to any significant credit risk to cash.

Accounts receivable are spread over many customers in various countries. The Company maintains an allowance for uncollectible accounts receivable based on expected collectability and through the ongoing performance of credit evaluations of customers’ financial condition.

As of December 31, 2022 and 2021, no customer accounted for more than 10% of accounts receivable.

The Company has entered into long-term revenue share agreements with certain demand-side platforms. The results of operations would be adversely affected if these agreements were to be terminated.

(g) Cash, cash equivalents, and restricted cash

Cash and cash equivalents include highly liquid investments with an original maturity date of three months or less at the time of purchase. Cash amounts with restrictions are classified as restricted cash within the Consolidated Balance Sheets.

The following table provides a roll forward of the changes in the restricted cash balance:


Restricted cash as of January 1, 2021	2,987
Release of deposits for facilities leases no longer restricted	(1)
Release of deposits for medical claims	(117)
Restricted cash as of December 31, 2021	2,869
Release of deposits for facilities leases no longer restricted	(26)
Release of deposits for medical claims	(49)
Restricted cash as of December 31, 2022	$	2,794


	December 31,
	2022		2021
Cash and cash equivalents	$	86,877	$	73,210
Short-term restricted cash	45		70
Long-term restricted cash (held in other long-term assets)	2,749		2,798
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	89,671	$	76,078

(h) Accounts receivable, net

Accounts receivable are carried at the original invoiced amount less an allowance for doubtful accounts. The allowance is estimated based on management’s knowledge of its customers’ financial condition, credit history, and existing economic conditions. Invoices are typically issued with net 30-days to net 90-days terms. Account balances are considered delinquent if payment is not received by the due date, and the receivables are written off when deemed uncollectible. The allowance for doubtful accounts are recorded in general and administrative expenses within the Consolidated Statements of Operations and Comprehensive Income (Loss).

The activity in our allowance for doubtful accounts consists of the following:


	December 31,
	2022		2021		2020
Balance at beginning of year	$	5,883	$	4,257	$	5,843
Additional provision	1,837		3,024		2,200
Receivables written-off/reversals	(1,029)		(1,398)		(3,786)
Balance at the end of year	$	6,691	$	5,883	$	4,257

(i) Property and equipment, net

Property and equipment are recognized in the Consolidated Balance Sheet at cost less accumulated depreciation. The Company depreciates its property and equipment using the straight-line method of depreciation over the estimated useful lives of the respective assets, with the exception of leasehold improvements, which is the shorter of the useful life of the asset or the lease term.

The cost of repairs and maintenance are expensed as incurred. Major renewals or improvements that extend the useful lives of the assets are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation thereon are removed, and any resulting gain or loss is recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss).

Long lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Recoverability is assessed based on the future cash flows expected to result from the use of the asset and its eventual disposition. If the sum of the undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recognized. Any impairment loss, if indicated, is measured as the amount by which the carrying amount of the asset exceeds its estimated fair value and is recognized as a reduction in the carrying amount of the asset. As of December 31, 2022, 2021 and 2020, there were no events or changes in circumstances to indicate that the carrying amount of the assets may not be recoverable.

(j) Leases

For arrangements where there is an identified asset and the contract conveys the right to control its use, the Company will recognize lease liabilities at the lease commencement date based on the present value of lease payments over the lease term. Right-of-use ("ROU") assets represent the Company's right to use leased assets over the term of the lease, adjusted for incremental direct costs and lease incentives such as tenant improvements. ROU assets and lease liabilities are determined based on the present value of future lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, the incremental borrowing rate. Incremental borrowing rates were determined for each lease based on the Company's borrowing rate adjusted for term differences and foreign currency risk. For operating leases, ROU assets are reduced over the lease term by the straight-line lease expense recognized less the amount of accretion of the lease liability determined using the effective interest method.

Some real estate leases contain lease and non-lease components. Non-lease components generally represent use-based charges for common area maintenance, taxes and utilities. The Company has elected not to separate lease and non-lease components. Variable lease payments consist primarily of common area maintenance, utilities and taxes, which are not included in the recognition of ROU assets and related lease liabilities. The Company recognizes variable lease payments in the period in which the obligation for those payments is incurred. Some contracts also contain lease incentives such as tenant improvement allowances and rent holidays, which are treated as a reduction of lease payments for the measurement of the lease liability.

Leases with an initial term of 12 months or less are not recorded on the balance sheet and lease expense for these arrangements is recorded as paid over the lease term.

The Company has not recognized renewal options as part of its right-of-use assets and lease liabilities, as the renewal options are not reasonably certain of exercise or occurrence as of December 31, 2022. Additionally, these lease arrangements do not contain residual value guarantees, and there are no other restrictions or covenants in the contracts.

All long-lived assets used in the Company’s operations are subject to review for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is assessed based on the future cash flows expected to result from the use of the asset and its eventual disposition. If the sum of the undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recognized. Any impairment loss, if indicated, is measured as the amount by which the carrying amount of the asset exceeds its estimated fair value and is recognized as a reduction in the carrying amount of the asset. As of December 31, 2022, there were no events or changes in circumstances to indicate that the carrying amount of the assets may not be recoverable.

(k) Goodwill

Goodwill is the excess of purchase price over the fair value of the net tangible and identifiable intangible assets acquired. In testing goodwill for impairment, there is an option to begin with a qualitative assessment, commonly referred to as “Step 0”, to determine whether it is more likely than not that the fair value of a reporting unit containing goodwill is less than its carrying value. This qualitative assessment may include, but is not limited to, reviewing factors such as macroeconomic conditions, industry and market considerations, cost factors, entity-specific financial performance and other events, such as changes in management, strategy and primary user base. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then a quantitative goodwill impairment analysis is performed which is referred to as “Step 1”. Depending upon the results of that analysis, if the carrying amount of the reporting unit exceeds its fair value, goodwill may be written down and impairment expense is recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss). As of December 31, 2022, 2021 and 2020, there were no impairment charges taken.

(l) Intangible assets, net

Intangible assets consist of developed technology, customer relationships, favorable leases, and trademarks. Intangible assets are recorded at fair value at the time of their acquisition and are stated within our Consolidated Balance Sheets net of accumulated amortization. Intangible assets are amortized on a straight-line basis or using an accelerated method, over their estimated useful lives. Amortization expenses are recorded as operating expenses within our Consolidated Statements of Operations and Comprehensive Income (Loss). Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. As of December 31, 2022, 2021 and 2020, there were no events or changes in circumstances to indicate that the carrying amount of the assets may not be recoverable.

(m) Fair value measurements

The Company follows ASC 820-10, Fair Value Measurements, which defines fair value, establishes a framework for measuring fair value and requires certain disclosures about fair value measurements.

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the most advantageous market for the asset or liability in an orderly transaction. Fair value measurement is based on a hierarchy of observable or unobservable inputs. The standard describes three levels of inputs that may be used to measure fair value.

Level 1 — Inputs to the valuation methodology are quoted prices available in active markets for identical securities as of the reporting date;

Level 2 — Inputs to the valuation methodology are other significant observable inputs, including quoted prices for similar securities, interest rates, credit risk etc. as of the reporting date, and the fair value can be determined through the use of models or other valuation methodologies; and

Level 3 — Inputs to the valuation methodology are unobservable inputs in situations where there is little, or no market activity of the securities and the reporting entity makes estimates and assumptions relating to the pricing of the securities including assumptions regarding risk.

We segregate all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date.

(n) Revenue recognition

The Company’s customers include advertisers and publishers. The Company’s pre-bid and post-bid verification solutions enable advertisers to measure campaign performance and value across viewability, ad fraud prevention, brand safety and suitability, and contextual targeting for ads on desktop, mobile in-app, social, and CTV platforms. The Company's pre-bid programmatic solution is directly integrated with DSPs to help optimize return on ad spend by directing budgets to the best available inventory. The Company’s solutions help publishers globally deliver high quality ad inventory that is fraud free, viewable, brand safe and suitable, and geographically targeted.

The Company recognizes revenue under the five step model in accordance with ASC 606.

Identify the contract with a customer

The Company maintains agreements with each customer primarily in the form of written master service agreements, which set out the rights and obligations of the arrangement, including key terms and access to the Company’s platform. The Company ensures the following criteria are met when determining if a contract exists (i) contract is approved by all parties, (ii) each party’s rights regarding the services to be transferred are identified, (iii) payment terms are specified, (iv) contract has commercial substance, and (v) collectability of substantially all consideration is probable.

Identify the performance obligations in the contract

For all contracts, the Company identifies performance obligations at contract inception by evaluating whether the promised services are distinct. Performance obligations within the majority of the Company’s contracts comprise a series of distinct services that are satisfied ratably over time and are treated as a single performance obligation. Promises identified within standard contracts include (i) access to the Company’s platform, (ii) customer support services, and (iii) updates and enhancements to the Company’s platform and data.

Determine the transaction price

Once the Company identifies the performance obligations within the contract, the Company will determine the transaction price based on contractual amounts and stated terms. Contracts with the Company’s customers primarily utilize a usage-based structure, where CPM pricing is consistent over the contract term. Contracts with the Company’s customers may also utilize other pricing arrangements, including minimum commitments, overages based on tiered pricing or flat fees.

Allocate the transaction price to the performance obligations in the contract

Transaction prices in the Company’s arrangements are allocated to each distinct service, ensuring that revenue is recorded in the right period and for the right amount.

Recognize revenue when a performance obligation is satisfied

The Company recognizes revenue when control of the promised services are transferred to customers. The Company recognizes revenue by multiplying the CPM and the number of impressions measured. An impression is measured by the platform when a digital ad is served to a real person rather than a bot, viewable on-screen, and presented in a brand-safe and suitable environment in the correct geography. This method utilizes the “right to invoice” practical expedient as the invoiced amount directly corresponds to the value of the Company’s performance to date.

The Company evaluated arrangements with its customers where the customer purchases the Company’s services through a DSP to determine if such revenue should be reported on a gross or net basis. In these arrangements, the demand side platform collects the fee on behalf of the Company for the purchase of advertising inventory on an exchange. In these transactions, the Company is primarily responsible for providing these services directly to the customer and has latitude in establishing the sales price with the customers. As a result, the Company records revenue for the gross amounts paid by the customers for these services and records the amounts retained by the demand side platforms as a cost of revenue.

Invoices are typically issued with net 30-days to net 90-days terms and customers do not have a contractual right to refunds. Cash payments received prior to the Company’s delivery of its services are recorded to deferred revenue until the performance obligation is satisfied. The Company recorded deferred revenue (contract liabilities) to account for billings in excess of revenue recognized, primarily related to contractual minimums billed in advance and customer prepayment of $99 and $160 as of December 31, 2022 and 2021, respectively.

The Company recognizes expenses when direct fulfillment costs are incurred. Sales commissions represent incremental contract costs of obtaining a contract. The majority of these costs are recorded in sales and marketing expenses within the Consolidated Statement of Operations and Comprehensive Income (Loss).

See Note 11, Segment data, for disaggregated revenue by geographic region.

(o) Net income (loss) per share

Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares outstanding during the reporting period, without consideration for potentially dilutive securities. Diluted net income (loss) per share is computed by dividing the net income (loss) attributable to the shareholders by the weighted-average number of shares and potentially dilutive securities outstanding during the period.

(p) Income taxes

The Company is subject to U.S. federal, state, and local income taxation on its income. The Company accounts for income taxes using an asset and liability approach, which requires estimates of taxes payable or refunds for the current period and estimates of deferred income tax assets and liabilities for the anticipated future tax consequences attributable to differences between the carrying amounts of assets and liabilities for financial reporting purposes and the corresponding amounts used for income tax purposes. Current and deferred income tax assets and liabilities are based on provisions of the enacted income tax laws and are measured using the enacted income tax rates and laws that are expected to be in effect when the future tax events are expected to reverse. The effects of future changes in income tax laws or rates are not anticipated. The income tax provision is comprised of the current income tax expense and the change in deferred income tax assets and liabilities.

The portion of any deferred tax asset for which it is more likely than not that a tax benefit will not be realized is offset by recording a valuation allowance. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible.

The tax effects of an uncertain tax position ("UTP") taken or expected to be taken in income tax returns are recognized only if it is “more-likely-than-not” to be sustained on examination by the taxing authorities, based on its technical merits as of the reporting date. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes estimated interest and penalties related to UTPs in income tax expense.

The Company recognizes the resolution of an UTP in the period when it is effectively settled. Previously recognized tax positions are derecognized in the first period in which it is no longer more likely than not that the tax position would be sustained upon examination. The Company evaluated all potential uncertain tax positions and identified no significant uncertain positions.

(q) Business combinations

The Company determines if the acquisition of an entity or a group of assets is a business combination, which is accounted for using the acquisition method of accounting. Under the acquisition method, once control is obtained of a business, the assets acquired, and liabilities assumed, including amounts attributed to noncontrolling interests, are recorded at fair value. The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. One of the most significant estimates relates to the determination of the fair value of these assets and liabilities. The determination of the fair values is based on estimates and judgments made by management. The Company’s estimates of fair value are based upon assumptions it believes to be reasonable, but which are inherently uncertain and unpredictable. Additionally, uncertain tax positions and tax-related valuation allowances are recorded in connection with a business combination as of the acquisition date. Measurement period adjustments are reflected at the time identified, up through the conclusion of the measurement period, which is the time at which all information for determination of the values of assets acquired and liabilities assumed is received and is not to exceed one year from the acquisition date. The Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. If outside of the measurement period, any subsequent adjustments are recorded in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss).

(r) Stock-based compensation

Stock-based compensation is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period, which is generally the vesting period. The Company accounts for forfeitures as they occur. The Company used the following assumptions in valuing its time-based service options, which vest over a period of time subject to continued employment ("Time-Based Options"), return target options ("Return-Target Options"), which vest upon a realized cash return of the equity investment of Vista Equity Partners ("Vista"), the Company’s equity sponsor and funds controlled by Vista and registration of the shares held by Vista, market stock units ("MSUs"), and shares to be purchased under the 2021 Employee Stock Purchase Plan ("ESPP").

Expected term — For time-based awards, the estimated expected term of options granted is generally calculated as the vesting period plus the midpoint of the remaining contractual term, as the Company does not have sufficient historical information to develop reasonable expectations surrounding future exercise patterns and post-vesting employment termination behavior. For awards subject to market and performance conditions, the expected term represents the period of time that the options granted are expected to be outstanding.

Expected volatility — Since the Company does not have substantive trading history of its common stock, volatility is estimated based upon observed option implied volatilities for a group of peer companies. The Company believes this is the best estimate of the expected volatility over the weighted-average expected term of its option grants.

Risk-free interest rate — The risk-free interest rate is based on the implied yield currently available on U.S. Treasury instruments with terms approximately equal to the expected term of the option.

Expected dividend — The expected dividend assumption was based on the Company’s history and expectation of dividend payouts. The Company currently has no history or expectation of paying cash dividends on its units.

Fair value — Prior to the IPO, because there was no public market for the Company’s common stock/units, the board of directors determined the best estimate of the fair value of the Company’s option grants, based on reasonable judgment and numerous objective and subjective factors, including independent third-party valuations of the Company’s common stock/units, operating and financial performance, and general and industry-specific economic outlook, amongst other factors. As a result of the IPO, the Company’s shares are traded in the public market, and accordingly the Company uses the applicable closing price of its common stock to determine fair value.


	December 31,
	2022			2021			2020(1)
Estimated fair value	$3.26	-	$15.15	$8.16	-	$14.04	$2.29
Expected volatility (%)	70%	-	80%	65.0%	-	80.0%	70.0%	-	75.0%
Expected term (in years)	0.50	-	4.00	3.00	-	10.00	3.25	-	6.63
Risk-free interest rate (%)	2.96%	-	3.97%	0.46%	-	0.98%	0.26%	-	0.55%
Dividend yield	—			—			—

(s) Internal use software, net

Software development costs consist primarily of cost incurred in research and development, software engineering, and web design activities and related employee compensation costs to create, enhance, and deploy the software infrastructure. Software development costs are expensed as incurred where the amounts primarily relate to planning activities, minor developments or normal maintenance activities that do not meet the requirements under ASC 350-40, Internal Use Software. The majority of these costs are recorded in technology and development expenses in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss).

Capitalized costs would include costs incurred during the software development stage, which occurs after the preliminary design stage. Such costs include consultant costs and salaries of engineers and data scientists. Enhancements to existing internal use software are capitalized when it is more likely than not that they will result in significant additional capabilities. For the years ended December 31, 2022, 2021 and 2020, respectively, the Company incurred $15,379, $13,654 and $9,380 of costs that met the requirements of internal use software capitalization, with $1,517 and $859 of costs in accounts payable as of December 31, 2022 and 2021, respectively. These costs were capitalized when incurred and are recognized in the Consolidated Balance Sheets at cost less accumulated amortization. The Company amortizes the software using the straight-line method over three years.

(t) Advertising Costs

The Company expenses advertising costs as incurred. The Company incurred $2,333, $1,861 and $690 in advertising expense during the years ended December 31, 2022, 2021 and 2020, respectively.

(u) Deferred offering costs

Deferred offering costs are capitalized and consist of fees incurred in connection with our IPO and include legal, accounting, printing, and other IPO-related costs. Upon the completion of our IPO, which occurred on July 2, 2021, these deferred costs were reclassified to members’/stockholders’ equity and recorded against the proceeds from the offering.

There were no deferred offering costs incurred as of December 31, 2022. Deferred offering costs of $7,233 were recognized within additional paid-in capital on the Company's Consolidated Balance Sheets as of December 31, 2021.

(v) Recently adopted accounting pronouncements

In January 2017, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”) effective January 1, 2021, which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. Most amendments within ASU No. 2019-12 are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. The Company early adopted ASU No. 2019-12, which did not have a material impact on the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU No. 2018-15”), which requires customers in a cloud computing arrangement that is a service contract to follow the internal use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets. The guidance requires certain costs incurred during the application development stage to be capitalized and other costs incurred during the preliminary project and post-implementation stages to be expensed as they are incurred. Capitalized implementation costs related to a hosting arrangement that is a service contract will be amortized over the term of the hosting arrangement, beginning when the module or component of the hosting arrange is ready for its intended use. A customer’s accounting for the hosting component of the arrangement is not affected. The Company adopted this guidance on January 1, 2021 on a prospective basis. The adoption of ASU 2018-15 did not have a material impact on the Company’s consolidated financial statements.

In February 2016, the FASB issued ASU 2016-2, “Leases (Topic 842)” (“ASU No. 2016-2”). Under ASU No. 2016-2, lessees are required to put most leases on their balance sheets but to recognize expenses in the income statement in a manner similar to current accounting. ASU No. 2016-2 also eliminated the current real estate-specific provisions and changed the guidance on sale-leaseback transactions, initial direct costs, and lease executory costs for all entities. The updated guidance is effective for the Company beginning January 1, 2022. Upon adoption, entities are required to use the modified retrospective approach for leases that exist, or are entered into, after the beginning of the earliest comparative period in the financial statements. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842), Targeted Improvements, which allows entities to not apply the new leases standard, including its disclosure requirements, in the comparative periods they present in their financial statements in the year of adoption.

The Company adopted ASU No. 2016-2 on January 1, 2022 using the modified retrospective transition approach, which resulted in the recognition of right-of-use assets of $21,666 and lease liabilities of $29,361. Differences between ROU assets and lease liabilities are attributed to deferred rent, lease incentive obligations and a cease-use liability previously recognized under ASC 420 Exit or Disposal Cost Obligations. The Company elected the package of practical expedients not to reassess prior conclusions related to contracts containing leases, lease classification and initial direct costs. In addition, the Company elected the expedient permitting the combination of lease and non-lease components into a single lease component. The Company made a policy election to not recognize ROU assets and lease liabilities for short-term leases for all asset classes.

The adoption of ASU No. 2016-2 did not have a material impact on the Consolidated Statements of Operations and Comprehensive Income (Loss) or the Consolidated Statement of Cash Flows. Expanded disclosures around the Company's lease agreements under ASU No. 2016-2 are included in Note 2(j), Basis of presentation and significant accounting policies, and Note 14, Leases.

(w) Accounting pronouncements not yet adopted

In October 2021, the FASB issued ASU 2021-08, "Accounting for Contract Assets and Contract Liabilities from Contracts with Customers," which is intended to improve the accounting for acquired revenue contracts with customers in a business combination and create consistency in practice related to (i) the recognition of an acquired contract liability, and (ii) payment terms and their effect on subsequent revenue recognized by the acquirer. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2023. The Company will evaluate the impact of this guidance on future acquisitions as transactions occur.

In March 2020, the FASB issued ASU 2020-4, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” (“ASU No. 2020-4”) which is intended to address accounting consequences that could result from the global markets’ anticipated transition away from the use of the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The amendments in ASU No. 2020-4 provide operational expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU No. 2020-4 apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of the reference rate reform. The optional amendments are effective for all entities as of March 12, 2020, through December 31, 2022. The Company intends to elect to apply certain of the optional expedients when evaluating the impact of reference rate reform on its debt instruments that reference LIBOR. The Company does not expect the adoption of ASU No. 2020-4 to have a material impact on its consolidated financial statements.

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments,” ("ASU No. 2016-13") which is intended to provide more decision-useful information about expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. ASU No. 2016-13 revises the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in more timely recognition of losses on financial instruments, including, but not limited to accounts receivable. The Company adopted ASU No. 2016-13 on January 1, 2023, utilizing the modified retrospective approach requiring a cumulative-effect adjustment to the opening accumulated deficit in the first quarter of 2023. The Company does not believe that adopting this guidance will have a material impact on its consolidated financials. The Company is continuing to evaluate the impact of ASU No. 2016-13.

Business combinations - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Aug. 09, 2021	Dec. 31, 2022
Business Acquisition [Line Items]
Purchase price payable for the acquisitions of Publica and Context	$ 2,320		$ 0
Publica
Business Acquisition [Line Items]
Purchase price		$ 171,366
Purchase price payable for the acquisitions of Publica and Context	680
Stock issued for acquisition (in shares)		2,888,889
Value of stock issued for acquisition		$ 49,631
Portion of goodwill acquired expected to be deductible for tax purposes		$ 57,972
Nobora SAS (Context)
Business Acquisition [Line Items]
Purchase price	22,575
Purchase price payable for the acquisitions of Publica and Context	$ 967
Stock issued for acquisition (in shares)	457,959
Value of stock issued for acquisition	$ 10,391
Portion of goodwill acquired expected to be deductible for tax purposes	$ 0

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2022	Feb. 28, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40557
Entity Registrant Name	INTEGRAL AD SCIENCE HOLDING CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-0731995
City Area Code	646
Local Phone Number	278-4871
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	IAS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Address, Address Line One	99 Wall Street
Entity Address, Address Line Two	#1950
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10005
Entity Public Float			$ 606
Entity Common Stock, Shares Outstanding		154,417,454
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement relating to the 2023 Annual Meeting of Stockholders are incorporated by reference in Part III of this Annual Report on Form 10-K. The Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year ended December 31, 2022.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001842718

Internal use software, net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Internal Use Software [Abstract]
Internal use software expense	$ 9,632	$ 7,768	$ 4,813
Internal use software additions		4,548
Impairment of projects no longer being implemented	$ 199	$ 0

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Statement of Comprehensive Income [Abstract]

Revenue

$ 408,348

$ 323,513

$ 240,633

Operating expenses:

Cost of revenue (excluding depreciation and amortization shown below)

75,755

54,572

40,506

Sales and marketing

106,286

86,412

65,762

Technology and development

76,351

67,019

48,990

General and administrative

79,654

78,989

32,911

Depreciation and amortization

50,396

62,286

65,708

Facility exit costs

6,600

Foreign exchange loss, net

^[1]

4,749

645

636

Total operating expenses

393,191

356,523

254,513

Operating income (loss)

15,157

(33,010)

(13,880)

Interest expense, net

(9,053)

(19,244)

(31,570)

Employee retention tax credit

6,981

Loss on extinguishment of debt

(3,721)

Net income (loss) before benefit from income taxes

13,085

(55,975)

(45,450)

Benefit from income taxes

2,288

3,538

13,076

Net income (loss)

$ 15,373

$ (52,437)

$ (32,374)

Net income (loss) per share – basic (in dollars per share)

^[2]

$ 0.10

$ (0.37)

$ (0.24)

Net income (loss) per share – diluted (in dollars per share)

^[2]

$ 0.10

$ (0.37)

$ (0.24)

Basic weighted average shares outstanding (in shares)

154,699,694

143,535,546

134,044,284

Diluted weighted average shares outstanding (in shares)

157,258,083

143,535,546

134,044,284

Other comprehensive income (loss):

Foreign currency translation adjustments

$ (2,584)

$ (4,838)

$ 4,348

Total comprehensive income (loss)

$ 12,789

$ (57,275)

$ (28,026)

[1]	Prior period amounts have been reclassified to conform to current period presentation.
[2]	Amounts for periods prior to the Company’s conversion to a Delaware corporation have been retrospectively adjusted to give effect to the corporate conversion described in Note 1.

Description of business - Narrative (Details)

12 Months Ended

Jul. 02, 2021

Dec. 31, 2021

Members’ Interest

Subsidiary, Sale of Stock [Line Items]

Conversion to common stock (in shares)

134,203,403

^[1]

Common Stock

Subsidiary, Sale of Stock [Line Items]

Conversion to common stock (in shares)

134,203,403

Ratio of conversion of member units to common stock (in shares)

242

[1]	Amounts for periods prior to the Company’s conversion to a Delaware corporation have been retrospectively adjusted to give effect to the corporate conversion described in Note 1.

Net income (loss) per share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net income (loss) per share

Net income (loss) per shareFor periods prior to the Company’s conversion to a Delaware corporation, including fiscal 2021 for which a portion of the period preceded the conversion, the Company has retrospectively presented net income (loss) per share as if the conversion had occurred at the beginning of the earliest period presented. The weighted average shares used in computing net income (loss) per share in these periods are based on the number of units held by members after giving effect to the conversion ratio.

Basic and diluted loss per share is computed by dividing net income (loss) by the weighted-average shares outstanding:


	December 31,
	2022		2021		2020
Numerator:
Net income (loss)	$	15,373	$	(52,437)	$	(32,374)
Denominator:
Basic Shares:
Weighted average shares outstanding	154,699,694		143,535,546		134,044,284
Diluted Shares:
Basic weighted average shares outstanding	154,699,694		143,535,546		134,044,284
Dilutive effect of stock based awards	2,558,389		—		—
Weighted-average diluted shares outstanding	157,258,083		143,535,546		134,044,284
Net income (loss) per share, basic and diluted	$	0.10	$	(0.37)	$	(0.24)


	December 31,
	2022	2021	2020
Options to purchase common stock/member units	4,464,179	6,648,975	6,109,427
RSUs	1,834,100	2,426,147	—
MSUs	417,010	—	—
Total	6,715,289	9,075,122	6,109,427

Internal use software, net - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Internal Use Software [Line Items]
Estimated Useful Life	3 years
Internal use software	$ 47,658	$ 32,591
Less: Assets written off	(199)	0
Less: Accumulated amortization	(23,817)	(14,491)
Total internal use software, net	$ 23,642	$ 18,100
Minimum
Internal Use Software [Line Items]
Estimated Useful Life	3 years	3 years
Maximum
Internal Use Software [Line Items]
Estimated Useful Life	5 years	5 years

Income taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current tax (benefit) provision
Federal	$ 1,094	$ 544	$ (220)
Foreign	3,497	3,715	1,672
State and Local	2,001	1,865	784
Current tax benefit	6,592	6,124	2,236
Deferred tax (benefit) provision
Federal	(661)	(5,812)	(8,467)
Foreign	(1,185)	(1,373)	102
State and local	(7,034)	(2,477)	(6,947)
Deferred tax benefit	(8,880)	(9,662)	(15,312)
Benefit from income taxes	$ (2,288)	$ (3,538)	$ (13,076)

Intangible assets, net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 39,857	$ 52,576	$ 58,090

Restructuring - Narrative (Details) - Employee Severance $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($) employee	Dec. 31, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Approximate workforce reduction, number of employees \| employee	120
Payments for restructuring		$ 980
Restructuring reserve	$ 4,315	$ 4,315

Stock-based compensation - Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 44,752	$ 58,766	$ 0
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	507	86	0
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	13,520	16,090	0
Technology and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	9,937	11,196	0
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 20,788	$ 31,395	$ 0

Goodwill - Narrative (Details) - USD ($)	12 Months Ended
Goodwill - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, impairment loss	$ 0	$ 0	$ 0

Intangible assets, net - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Book Value	$ 458,965	$ 460,266
Accumulated Amortization	(241,407)	(201,950)
Net Book Value	217,558	258,316
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Book Value	301,955	302,026
Accumulated Amortization	(112,589)	(82,105)
Net Book Value	$ 189,366	$ 219,921
Weighted Average Remaining Useful Life	9 years 6 months	10 years 4 months 24 days
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Book Value	$ 137,112	$ 138,342
Accumulated Amortization	(118,650)	(112,347)
Net Book Value	$ 18,462	$ 25,995
Weighted Average Remaining Useful Life	3 years 6 months	4 years 6 months
Trademarks
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	9 years	9 years
Gross Book Value	$ 19,700	$ 19,700
Accumulated Amortization	(10,021)	(7,384)
Net Book Value	$ 9,679	$ 12,316
Weighted Average Remaining Useful Life	4 years 4 months 24 days	5 years 4 months 24 days
Favorable leases
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	6 years	6 years
Gross Book Value	$ 198	$ 198
Accumulated Amortization	(147)	(114)
Net Book Value	$ 51	$ 84
Weighted Average Remaining Useful Life	1 year 6 months	2 years 6 months
Minimum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	5 years	5 years
Minimum \| Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	4 years	4 years
Maximum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	15 years	15 years
Maximum \| Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	5 years	5 years

Condensed Financial Information of Registrant (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet

INTEGRAL AD SCIENCE HOLDING CORP.

(PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS


	December 31,
(IN THOUSANDS, EXCEPT SHARE DATA)	2022		2021
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—
Total current assets	—		—
Investment in subsidiaries	808,216		767,190
Total assets	$	808,216	$	767,190
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	—	$	—
Total current liabilities	—		—
Total liabilities	—		—
Commitments and Contingencies (Note 15)
Members’/Stockholders’ Equity
Units, $0 par value, 0 units authorized at December 31, 2022, 0 units issued and outstanding at December 31, 2022 and 2021	—		—
Common Stock, $0.001 par value, 500,000,000 shares authorized at December 31, 2022, 153,990,128 and 154,398,495 shares issued and outstanding at December 31, 2022 and 2021, respectively	154		154
Additional paid-in-capital	810,186		781,951
Accumulated other comprehensive (loss) income	(2,899)		(315)
Accumulated earnings (deficit)(1)	775		(14,600)
Total stockholders’ equity	808,216		767,190
Total liabilities and stockholders’ equity	$	808,216	$	767,190

(1) Balances prior to the Company’s conversion to a Delaware corporation have been reclassified to additional paid-in capital to give effect to the corporate conversion described in Note 1.

Condensed Income Statement

INTEGRAL AD SCIENCE HOLDING CORP.

(PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF OPERATIONS


	Year Ended December 31,
	2022		2021		2020
Revenue	$	—	—		—
Operating expenses	—		—		—
Operating income	—		—		—
Interest income, net	—		—		—
Income before provision for income taxes and equity in net income of subsidiaries	—		—		—
Benefit from income taxes	—		—		—
Equity in net income (loss) of subsidiaries	15,373		(52,437)		(32,374)
Net income (loss)	$	15,373	$	(52,437)	$	(32,374)

Condensed Statement of Comprehensive Income

INTEGRAL AD SCIENCE HOLDING CORP.

(PARENT COMPANY ONLY)

CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS)


	Year Ended December 31,
	2022		2021		2020
Net income (loss)	$	15,373	$	(52,437)	$	(32,374)
Other comprehensive loss, net of tax:	—		—		—
Subsidiaries’ other comprehensive (loss) income	(2,584)		(4,838)		4,348
Total other comprehensive (loss) income	(2,584)		(4,838)		4,348
Total comprehensive loss	$	12,789	$	(57,275)	$	(28,026)

Goodwill (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill

The following table provides a roll forward of the changes in the goodwill balance:


Goodwill as of January 1, 2021	$	458,586
Impact of changes in exchange rates	(499)
Acquisition of Publica (Note 3)	190,401
Acquisition of Context (Note 3)	28,024
Goodwill as of December 31, 2021	$	676,513
Measurement period adjustments	(231)
Impact of changes in exchange rates and other	(2,188)
Goodwill as of December 31, 2022	$	674,094

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Goodwill

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table provides a roll forward of the changes in the goodwill balance:


Goodwill as of January 1, 2021	$	458,586
Impact of changes in exchange rates	(499)
Acquisition of Publica (Note 3)	190,401
Acquisition of Context (Note 3)	28,024
Goodwill as of December 31, 2021	$	676,513
Measurement period adjustments	(231)
Impact of changes in exchange rates and other	(2,188)
Goodwill as of December 31, 2022	$	674,094

For the years ended December 31, 2022, 2021 and 2020, there were no impairment losses related to goodwill.

Goodwill - Changes to Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Goodwill at beginning of period	$ 676,513	$ 458,586
Impact of changes in exchange rates and other	(2,188)	(499)
Measurement period adjustments	(231)
Goodwill at end of period	674,094	676,513
Publica
Goodwill [Roll Forward]
Acquisition		190,401
Nobora SAS (Context)
Goodwill [Roll Forward]
Goodwill at beginning of period	$ 27,876
Acquisition		28,024
Goodwill at end of period		$ 27,876

- 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

Leases - Narrative (Details) $ in Thousands	12 Months Ended
Leases - Narrative (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term	4 years 9 months 18 days
Weighted average discount rate (as a percent)	5.50%
Operating lease payments	$ 7,746
Proceeds from lease payment	1,345
Security deposits	$ 2,275
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	9 years 9 months 18 days

Condensed Financial Information of Registrant (Parent Company Only) - Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Statement of Income Captions [Line Items]
Net income (loss)	$ 15,373	$ (52,437)	$ (32,374)
Total comprehensive income (loss)	12,789	(57,275)	(28,026)
Parent Company
Condensed Statement of Income Captions [Line Items]
Net income (loss)	15,373	(52,437)	(32,374)
Total other comprehensive (loss) income	(2,584)	(4,838)	4,348
Total comprehensive income (loss)	$ 12,789	$ (57,275)	$ (28,026)

- Definition

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

+ References

+ Details

Income taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets
Net Operating Loss (“NOL”) and other carryforwards	$ 11,187	$ 29,187
Stock-based compensation	4,886	7,962
Interest expense carryforward	3,774	7,528
Tax credit carryforward	3,032	2,447
Lease liability	7,582	2,237
Payroll and commissions	2,812	293
Allowance for doubtful accounts	1,764	343
Section 174 capitalized costs	8,573	0
Accrued expenses and other liabilities	1,231	32
Total deferred tax assets	44,841	50,029
Valuation allowance	(3,217)	(3,421)	$ 0
Net deferred tax assets	41,624	46,608
Deferred tax liabilities
Depreciation and amortization	(42,962)	(63,935)
Outside basis difference	(36,056)	(35,246)
Right of use asset	6,080
Capital lease assets		(62)
Total deferred tax liabilities	(85,098)	(99,243)
Net deferred tax liability	$ (43,474)	$ (52,635)

Employee contribution plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Matching contribution amount	$ 4,062	$ 2,474

Basis of presentation and summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Company’s consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and reflect the financial position, results of operations and cash flows for all periods presented. The Company is an Emerging Growth Company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, Emerging Growth Companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an Emerging Growth Company or (ii) it affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. The adoption dates discussed below reflect this election. During the year ended December 31, 2022, the Company reclassified foreign exchange loss, net from "General and administrative" expenses within the Consolidated Statement of Operations and Comprehensive Income (Loss) as a separate line item "Foreign currency translation adjustments" presented on the Consolidated Statement of Operations and Comprehensive Income (Loss). Corresponding prior period amounts have also been reclassified to conform to current period presentation.
Basis of consolidation	Basis of consolidationThe consolidated financial statements include the accounts of Integral Ad Science Holding, Corp. and its wholly-owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation.
Use of estimates	Use of estimatesThe preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates include fair value of assets acquired in business combinations, including assumptions with respect to future cash inflows and outflows, discount rates, assets useful lives, market multiples, the allocation of purchase price consideration in the business combination valuation of acquired assets and liabilities, the estimated useful lives of intangible assets and internal use software, the allowance for doubtful accounts, goodwill impairment testing; assumptions used to calculate equity-based compensation, and the realization of deferred tax assets. The Company bases its estimates on past experience, market conditions, and other assumptions that the Company believes are reasonable under the circumstances, and the Company evaluates these estimates on an ongoing basis. Actual results may differ from these estimates due to risks and uncertainties, including the continued uncertainty surrounding rapidly changing market and economic conditions due to heightened inflation, changes to fiscal and monetary policy, higher interest rates, currency fluctuations, challenges in the supply chain, disruptions in European economies as a result of the conflict in Ukraine and ongoing effects of the COVID-19 pandemic.
Foreign currency	Foreign currencyThe reporting currency of the Company is the U.S. dollar. The functional currency of our foreign subsidiaries is the currency of the primary economic environment in which they operate, which is their local currency. The financial statements of these subsidiaries are translated into U.S. dollars using month-end rates of exchange for assets and liabilities, and average rates of exchange for revenue, costs and expenses. Translation gains and losses are recorded in accumulated other comprehensive income (loss) in stockholders’ equity. The Company recorded translation losses of $2,584 and $4,838 and gains of $4,348 for the years ended December 31, 2022, 2021, and 2020, respectively. Transaction gains and losses including those on intercompany transactions denominated in a currency other than the functional currency of the entity involved are included in foreign exchange gain (loss) in the Consolidated Statement of Operations and Comprehensive Income (Loss).
Concentrations of credit risk	Concentrations of credit risk Our assets that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Cash equivalents consist of money market funds, which are invested through financial institutions in the United States. Such deposits may, at times, exceed federally insured limits. The Company has not experienced any losses in such amounts and believes it is not exposed to any significant credit risk to cash. Accounts receivable are spread over many customers in various countries. The Company maintains an allowance for uncollectible accounts receivable based on expected collectability and through the ongoing performance of credit evaluations of customers’ financial condition. As of December 31, 2022 and 2021, no customer accounted for more than 10% of accounts receivable. The Company has entered into long-term revenue share agreements with certain demand-side platforms. The results of operations would be adversely affected if these agreements were to be terminated.
Cash, cash equivalents, and restricted cash	Cash, cash equivalents, and restricted cashCash and cash equivalents include highly liquid investments with an original maturity date of three months or less at the time of purchase. Cash amounts with restrictions are classified as restricted cash within the Consolidated Balance Sheets.
Accounts receivable, net	Accounts receivable, netAccounts receivable are carried at the original invoiced amount less an allowance for doubtful accounts. The allowance is estimated based on management’s knowledge of its customers’ financial condition, credit history, and existing economic conditions. Invoices are typically issued with net 30-days to net 90-days terms. Account balances are considered delinquent if payment is not received by the due date, and the receivables are written off when deemed uncollectible. The allowance for doubtful accounts are recorded in general and administrative expenses within the Consolidated Statements of Operations and Comprehensive Income (Loss).
Property and equipment, net	Property and equipment, net Property and equipment are recognized in the Consolidated Balance Sheet at cost less accumulated depreciation. The Company depreciates its property and equipment using the straight-line method of depreciation over the estimated useful lives of the respective assets, with the exception of leasehold improvements, which is the shorter of the useful life of the asset or the lease term. The cost of repairs and maintenance are expensed as incurred. Major renewals or improvements that extend the useful lives of the assets are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation thereon are removed, and any resulting gain or loss is recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss). Long lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Recoverability is assessed based on the future cash flows expected to result from the use of the asset and its eventual disposition. If the sum of the undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recognized. Any impairment loss, if indicated, is measured as the amount by which the carrying amount of the asset exceeds its estimated fair value and is recognized as a reduction in the carrying amount of the asset.
Leases	Leases For arrangements where there is an identified asset and the contract conveys the right to control its use, the Company will recognize lease liabilities at the lease commencement date based on the present value of lease payments over the lease term. Right-of-use ("ROU") assets represent the Company's right to use leased assets over the term of the lease, adjusted for incremental direct costs and lease incentives such as tenant improvements. ROU assets and lease liabilities are determined based on the present value of future lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, the incremental borrowing rate. Incremental borrowing rates were determined for each lease based on the Company's borrowing rate adjusted for term differences and foreign currency risk. For operating leases, ROU assets are reduced over the lease term by the straight-line lease expense recognized less the amount of accretion of the lease liability determined using the effective interest method. Some real estate leases contain lease and non-lease components. Non-lease components generally represent use-based charges for common area maintenance, taxes and utilities. The Company has elected not to separate lease and non-lease components. Variable lease payments consist primarily of common area maintenance, utilities and taxes, which are not included in the recognition of ROU assets and related lease liabilities. The Company recognizes variable lease payments in the period in which the obligation for those payments is incurred. Some contracts also contain lease incentives such as tenant improvement allowances and rent holidays, which are treated as a reduction of lease payments for the measurement of the lease liability. Leases with an initial term of 12 months or less are not recorded on the balance sheet and lease expense for these arrangements is recorded as paid over the lease term. The Company has not recognized renewal options as part of its right-of-use assets and lease liabilities, as the renewal options are not reasonably certain of exercise or occurrence as of December 31, 2022. Additionally, these lease arrangements do not contain residual value guarantees, and there are no other restrictions or covenants in the contracts. All long-lived assets used in the Company’s operations are subject to review for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is assessed based on the future cash flows expected to result from the use of the asset and its eventual disposition. If the sum of the undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recognized. Any impairment loss, if indicated, is measured as the amount by which the carrying amount of the asset exceeds its estimated fair value and is recognized as a reduction in the carrying amount of the asset.
Goodwill	GoodwillGoodwill is the excess of purchase price over the fair value of the net tangible and identifiable intangible assets acquired. In testing goodwill for impairment, there is an option to begin with a qualitative assessment, commonly referred to as “Step 0”, to determine whether it is more likely than not that the fair value of a reporting unit containing goodwill is less than its carrying value. This qualitative assessment may include, but is not limited to, reviewing factors such as macroeconomic conditions, industry and market considerations, cost factors, entity-specific financial performance and other events, such as changes in management, strategy and primary user base. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then a quantitative goodwill impairment analysis is performed which is referred to as “Step 1”. Depending upon the results of that analysis, if the carrying amount of the reporting unit exceeds its fair value, goodwill may be written down and impairment expense is recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss).
Intangible assets, net	Intangible assets, netIntangible assets consist of developed technology, customer relationships, favorable leases, and trademarks. Intangible assets are recorded at fair value at the time of their acquisition and are stated within our Consolidated Balance Sheets net of accumulated amortization. Intangible assets are amortized on a straight-line basis or using an accelerated method, over their estimated useful lives. Amortization expenses are recorded as operating expenses within our Consolidated Statements of Operations and Comprehensive Income (Loss). Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.
Fair value measurements	Fair value measurements The Company follows ASC 820-10, Fair Value Measurements, which defines fair value, establishes a framework for measuring fair value and requires certain disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the most advantageous market for the asset or liability in an orderly transaction. Fair value measurement is based on a hierarchy of observable or unobservable inputs. The standard describes three levels of inputs that may be used to measure fair value. Level 1 — Inputs to the valuation methodology are quoted prices available in active markets for identical securities as of the reporting date; Level 2 — Inputs to the valuation methodology are other significant observable inputs, including quoted prices for similar securities, interest rates, credit risk etc. as of the reporting date, and the fair value can be determined through the use of models or other valuation methodologies; and Level 3 — Inputs to the valuation methodology are unobservable inputs in situations where there is little, or no market activity of the securities and the reporting entity makes estimates and assumptions relating to the pricing of the securities including assumptions regarding risk. We segregate all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date.
Revenue recognition	Revenue recognition The Company’s customers include advertisers and publishers. The Company’s pre-bid and post-bid verification solutions enable advertisers to measure campaign performance and value across viewability, ad fraud prevention, brand safety and suitability, and contextual targeting for ads on desktop, mobile in-app, social, and CTV platforms. The Company's pre-bid programmatic solution is directly integrated with DSPs to help optimize return on ad spend by directing budgets to the best available inventory. The Company’s solutions help publishers globally deliver high quality ad inventory that is fraud free, viewable, brand safe and suitable, and geographically targeted. The Company recognizes revenue under the five step model in accordance with ASC 606. Identify the contract with a customer The Company maintains agreements with each customer primarily in the form of written master service agreements, which set out the rights and obligations of the arrangement, including key terms and access to the Company’s platform. The Company ensures the following criteria are met when determining if a contract exists (i) contract is approved by all parties, (ii) each party’s rights regarding the services to be transferred are identified, (iii) payment terms are specified, (iv) contract has commercial substance, and (v) collectability of substantially all consideration is probable. Identify the performance obligations in the contract For all contracts, the Company identifies performance obligations at contract inception by evaluating whether the promised services are distinct. Performance obligations within the majority of the Company’s contracts comprise a series of distinct services that are satisfied ratably over time and are treated as a single performance obligation. Promises identified within standard contracts include (i) access to the Company’s platform, (ii) customer support services, and (iii) updates and enhancements to the Company’s platform and data. Determine the transaction price Once the Company identifies the performance obligations within the contract, the Company will determine the transaction price based on contractual amounts and stated terms. Contracts with the Company’s customers primarily utilize a usage-based structure, where CPM pricing is consistent over the contract term. Contracts with the Company’s customers may also utilize other pricing arrangements, including minimum commitments, overages based on tiered pricing or flat fees. Allocate the transaction price to the performance obligations in the contract Transaction prices in the Company’s arrangements are allocated to each distinct service, ensuring that revenue is recorded in the right period and for the right amount. Recognize revenue when a performance obligation is satisfied The Company recognizes revenue when control of the promised services are transferred to customers. The Company recognizes revenue by multiplying the CPM and the number of impressions measured. An impression is measured by the platform when a digital ad is served to a real person rather than a bot, viewable on-screen, and presented in a brand-safe and suitable environment in the correct geography. This method utilizes the “right to invoice” practical expedient as the invoiced amount directly corresponds to the value of the Company’s performance to date. The Company evaluated arrangements with its customers where the customer purchases the Company’s services through a DSP to determine if such revenue should be reported on a gross or net basis. In these arrangements, the demand side platform collects the fee on behalf of the Company for the purchase of advertising inventory on an exchange. In these transactions, the Company is primarily responsible for providing these services directly to the customer and has latitude in establishing the sales price with the customers. As a result, the Company records revenue for the gross amounts paid by the customers for these services and records the amounts retained by the demand side platforms as a cost of revenue. Invoices are typically issued with net 30-days to net 90-days terms and customers do not have a contractual right to refunds. Cash payments received prior to the Company’s delivery of its services are recorded to deferred revenue until the performance obligation is satisfied. The Company recorded deferred revenue (contract liabilities) to account for billings in excess of revenue recognized, primarily related to contractual minimums billed in advance and customer prepayment of $99 and $160 as of December 31, 2022 and 2021, respectively. The Company recognizes expenses when direct fulfillment costs are incurred. Sales commissions represent incremental contract costs of obtaining a contract. The majority of these costs are recorded in sales and marketing expenses within the Consolidated Statement of Operations and Comprehensive Income (Loss).
Net income (loss) per share	Net income (loss) per shareBasic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares outstanding during the reporting period, without consideration for potentially dilutive securities. Diluted net income (loss) per share is computed by dividing the net income (loss) attributable to the shareholders by the weighted-average number of shares and potentially dilutive securities outstanding during the period.
Income taxes	Income taxes The Company is subject to U.S. federal, state, and local income taxation on its income. The Company accounts for income taxes using an asset and liability approach, which requires estimates of taxes payable or refunds for the current period and estimates of deferred income tax assets and liabilities for the anticipated future tax consequences attributable to differences between the carrying amounts of assets and liabilities for financial reporting purposes and the corresponding amounts used for income tax purposes. Current and deferred income tax assets and liabilities are based on provisions of the enacted income tax laws and are measured using the enacted income tax rates and laws that are expected to be in effect when the future tax events are expected to reverse. The effects of future changes in income tax laws or rates are not anticipated. The income tax provision is comprised of the current income tax expense and the change in deferred income tax assets and liabilities. The portion of any deferred tax asset for which it is more likely than not that a tax benefit will not be realized is offset by recording a valuation allowance. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The tax effects of an uncertain tax position ("UTP") taken or expected to be taken in income tax returns are recognized only if it is “more-likely-than-not” to be sustained on examination by the taxing authorities, based on its technical merits as of the reporting date. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes estimated interest and penalties related to UTPs in income tax expense. The Company recognizes the resolution of an UTP in the period when it is effectively settled. Previously recognized tax positions are derecognized in the first period in which it is no longer more likely than not that the tax position would be sustained upon examination. The Company evaluated all potential uncertain tax positions and identified no significant uncertain positions.
Business combinations	Business combinationsThe Company determines if the acquisition of an entity or a group of assets is a business combination, which is accounted for using the acquisition method of accounting. Under the acquisition method, once control is obtained of a business, the assets acquired, and liabilities assumed, including amounts attributed to noncontrolling interests, are recorded at fair value. The Company uses its best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. One of the most significant estimates relates to the determination of the fair value of these assets and liabilities. The determination of the fair values is based on estimates and judgments made by management. The Company’s estimates of fair value are based upon assumptions it believes to be reasonable, but which are inherently uncertain and unpredictable. Additionally, uncertain tax positions and tax-related valuation allowances are recorded in connection with a business combination as of the acquisition date. Measurement period adjustments are reflected at the time identified, up through the conclusion of the measurement period, which is the time at which all information for determination of the values of assets acquired and liabilities assumed is received and is not to exceed one year from the acquisition date. The Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. If outside of the measurement period, any subsequent adjustments are recorded in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss).
Stock-based compensation	Stock-based compensation Stock-based compensation is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period, which is generally the vesting period. The Company accounts for forfeitures as they occur. The Company used the following assumptions in valuing its time-based service options, which vest over a period of time subject to continued employment ("Time-Based Options"), return target options ("Return-Target Options"), which vest upon a realized cash return of the equity investment of Vista Equity Partners ("Vista"), the Company’s equity sponsor and funds controlled by Vista and registration of the shares held by Vista, market stock units ("MSUs"), and shares to be purchased under the 2021 Employee Stock Purchase Plan ("ESPP"). Expected term — For time-based awards, the estimated expected term of options granted is generally calculated as the vesting period plus the midpoint of the remaining contractual term, as the Company does not have sufficient historical information to develop reasonable expectations surrounding future exercise patterns and post-vesting employment termination behavior. For awards subject to market and performance conditions, the expected term represents the period of time that the options granted are expected to be outstanding. Expected volatility — Since the Company does not have substantive trading history of its common stock, volatility is estimated based upon observed option implied volatilities for a group of peer companies. The Company believes this is the best estimate of the expected volatility over the weighted-average expected term of its option grants. Risk-free interest rate — The risk-free interest rate is based on the implied yield currently available on U.S. Treasury instruments with terms approximately equal to the expected term of the option. Expected dividend — The expected dividend assumption was based on the Company’s history and expectation of dividend payouts. The Company currently has no history or expectation of paying cash dividends on its units. Fair value — Prior to the IPO, because there was no public market for the Company’s common stock/units, the board of directors determined the best estimate of the fair value of the Company’s option grants, based on reasonable judgment and numerous objective and subjective factors, including independent third-party valuations of the Company’s common stock/units, operating and financial performance, and general and industry-specific economic outlook, amongst other factors. As a result of the IPO, the Company’s shares are traded in the public market, and accordingly the Company uses the applicable closing price of its common stock to determine fair value.
Internal use software, net	Internal use software, netSoftware development costs consist primarily of cost incurred in research and development, software engineering, and web design activities and related employee compensation costs to create, enhance, and deploy the software infrastructure. Software development costs are expensed as incurred where the amounts primarily relate to planning activities, minor developments or normal maintenance activities that do not meet the requirements under ASC 350-40, Internal Use Software. The majority of these costs are recorded in technology and development expenses in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss).Capitalized costs would include costs incurred during the software development stage, which occurs after the preliminary design stage. Such costs include consultant costs and salaries of engineers and data scientists. Enhancements to existing internal use software are capitalized when it is more likely than not that they will result in significant additional capabilities.
Advertising Costs	Advertising CostsThe Company expenses advertising costs as incurred.
Deferred offering costs	Deferred offering costsDeferred offering costs are capitalized and consist of fees incurred in connection with our IPO and include legal, accounting, printing, and other IPO-related costs. Upon the completion of our IPO, which occurred on July 2, 2021, these deferred costs were reclassified to members’/stockholders’ equity and recorded against the proceeds from the offering.
Recently adopted accounting pronouncements and Accounting pronouncements not yet adopted	Recently adopted accounting pronouncements In January 2017, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”) effective January 1, 2021, which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. Most amendments within ASU No. 2019-12 are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. The Company early adopted ASU No. 2019-12, which did not have a material impact on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU No. 2018-15”), which requires customers in a cloud computing arrangement that is a service contract to follow the internal use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets. The guidance requires certain costs incurred during the application development stage to be capitalized and other costs incurred during the preliminary project and post-implementation stages to be expensed as they are incurred. Capitalized implementation costs related to a hosting arrangement that is a service contract will be amortized over the term of the hosting arrangement, beginning when the module or component of the hosting arrange is ready for its intended use. A customer’s accounting for the hosting component of the arrangement is not affected. The Company adopted this guidance on January 1, 2021 on a prospective basis. The adoption of ASU 2018-15 did not have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-2, “Leases (Topic 842)” (“ASU No. 2016-2”). Under ASU No. 2016-2, lessees are required to put most leases on their balance sheets but to recognize expenses in the income statement in a manner similar to current accounting. ASU No. 2016-2 also eliminated the current real estate-specific provisions and changed the guidance on sale-leaseback transactions, initial direct costs, and lease executory costs for all entities. The updated guidance is effective for the Company beginning January 1, 2022. Upon adoption, entities are required to use the modified retrospective approach for leases that exist, or are entered into, after the beginning of the earliest comparative period in the financial statements. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842), Targeted Improvements, which allows entities to not apply the new leases standard, including its disclosure requirements, in the comparative periods they present in their financial statements in the year of adoption. The Company adopted ASU No. 2016-2 on January 1, 2022 using the modified retrospective transition approach, which resulted in the recognition of right-of-use assets of $21,666 and lease liabilities of $29,361. Differences between ROU assets and lease liabilities are attributed to deferred rent, lease incentive obligations and a cease-use liability previously recognized under ASC 420 Exit or Disposal Cost Obligations. The Company elected the package of practical expedients not to reassess prior conclusions related to contracts containing leases, lease classification and initial direct costs. In addition, the Company elected the expedient permitting the combination of lease and non-lease components into a single lease component. The Company made a policy election to not recognize ROU assets and lease liabilities for short-term leases for all asset classes. The adoption of ASU No. 2016-2 did not have a material impact on the Consolidated Statements of Operations and Comprehensive Income (Loss) or the Consolidated Statement of Cash Flows. Expanded disclosures around the Company's lease agreements under ASU No. 2016-2 are included in Note 2(j), Basis of presentation and significant accounting policies, and Note 14, Leases. (w) Accounting pronouncements not yet adopted In October 2021, the FASB issued ASU 2021-08, "Accounting for Contract Assets and Contract Liabilities from Contracts with Customers," which is intended to improve the accounting for acquired revenue contracts with customers in a business combination and create consistency in practice related to (i) the recognition of an acquired contract liability, and (ii) payment terms and their effect on subsequent revenue recognized by the acquirer. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2023. The Company will evaluate the impact of this guidance on future acquisitions as transactions occur. In March 2020, the FASB issued ASU 2020-4, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting,” (“ASU No. 2020-4”) which is intended to address accounting consequences that could result from the global markets’ anticipated transition away from the use of the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The amendments in ASU No. 2020-4 provide operational expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU No. 2020-4 apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of the reference rate reform. The optional amendments are effective for all entities as of March 12, 2020, through December 31, 2022. The Company intends to elect to apply certain of the optional expedients when evaluating the impact of reference rate reform on its debt instruments that reference LIBOR. The Company does not expect the adoption of ASU No. 2020-4 to have a material impact on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments,” ("ASU No. 2016-13") which is intended to provide more decision-useful information about expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. ASU No. 2016-13 revises the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in more timely recognition of losses on financial instruments, including, but not limited to accounts receivable. The Company adopted ASU No. 2016-13 on January 1, 2023, utilizing the modified retrospective approach requiring a cumulative-effect adjustment to the opening accumulated deficit in the first quarter of 2023. The Company does not believe that adopting this guidance will have a material impact on its consolidated financials. The Company is continuing to evaluate the impact of ASU No. 2016-13.

Stock-based compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

Time Based Service Option activity is as follows:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2021	6,648,975	$	7.46	7.76	$	98,055
Granted	—	—		—	—
Canceled or forfeited	(810,957)	10.04		—	—
Exercised	(1,586,728)	4.51		—	—
Outstanding at December 31, 2022	4,251,290	$	8.07	6.97	$	12,163
Vested and expected to vest as of December 31, 2022	4,251,290	$	8.07	6.97	$	12,163
Exercisable at December 31, 2022	3,033,235	$	6.34	6.59	$	10,878


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2020	6,109,427	$	4.82	8.47	$	—
Granted	1,381,646	17.49		9.14	$	—
Canceled or forfeited	(595,729)	4.95		—	$	—
Exercised	(246,369)	4.36		—	$	—
Outstanding at December 31, 2021	6,648,975	$	7.46	7.76	$	98,055
Vested and expected to vest as of December 31, 2021	6,648,975	7.46		7.76	$	98,055
Exercisable at December 31, 2021	3,169,868	4.47		6.20	$	56,227


	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2019	$	5,679,152	$	4.17	9.10	$	—
Granted	1,628,068		6.77		9.60	—
Canceled or forfeited	(1,197,793)		4.34		—	—
Exercised	—		—		—	—
Outstanding at December 31, 2020	6,109,427		$	4.82	8.47	$	—
Vested and expected to vest as of December 31, 2020	6,109,427		$	4.82	8.47	$	—
Exercisable at December 31, 2020	1,848,880		$	4.17	8.16	$	—

Return-Target Option activity

Return-Target Option activity is as follows:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2021	3,265,126	$	7.53	7.27	$	47,947
Granted	—	—		—	—
Canceled or forfeited	(1,111,862)	6.54		—	—
Exercised	—	—		—	—
Outstanding at December 31, 2022	2,153,264	$	8.03	6.97	$	6,190
Vested and expected to vest as of December 31, 2022	2,153,264	$	8.03	6.97	$	6,190
Exercisable as of December 31, 2022	—	$	—	—	$	—


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2020	3,054,701	$	4.82	8.47	$	—
Granted	691,306	17.49		9.14	—
Canceled or forfeited	(480,881)	4.69		—	—
Exercised	—	—		—	—
Outstanding at December 31, 2021	3,265,126	$	7.53	7.27	$	47,947
Vested and expected to vest as of December 31, 2021	3,265,126	$	7.53	7.27	$	47,947
Exercisable as of December 31, 2021	—	$	—	—	$	—


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2019	2,839,574	$	4.17	9.10	$	—
Granted	814,035	6.77		9.60	—
Canceled or forfeited	(598,908)	4.34		—	—
Exercised	—	—		—	—
Outstanding at December 31, 2020	3,054,701	$	4.82	8.47	$	—
Vested and expected to vest as of December 31, 2020	3,054,701	$	4.82	8.47	$	—
Exercisable as of December 31, 2020	—	$	—	—	$	—

Schedule of Restricted Stock Unit Activity

RSU activity for the years ended December 31, 2022 and 2021 is as follows:


	RSUs
	Number of Shares	Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2021	26,931	$	5.57
Granted	2,667,591	19.32
Canceled or forfeited	(241,444)	18.23
Vested	(26,931)	5.57
Outstanding as of December 31, 2021	2,426,147	$	19.43
Granted	8,050,276	$	10.78
Canceled or forfeited	(1,306,090)	16.17
Vested	(1,084,966)	15.48
Outstanding at December 31, 2022	8,085,367	11.88
Vested and expected to vest as of December 31, 2022	8,085,367

Schedule of Share-Based Payment Arrangement, Market Stock Unit, Activity

MSU activity for the year ended December 31, 2022 is as follows:


	MSUs
	Number of Shares	Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2022	—	$	—
Granted	1,465,286	14.53
Canceled or forfeited	(256,024)	14.41
Vested	—	—
Outstanding at December 31, 2022	1,209,262	$	14.55
Vested and expected to vest as of December 31, 2022	1,209,262

Schedule of Allocation of Recognized Period Costs

Total stock-based compensation expense for all equity arrangements for the years ended December 31, 2022, 2021, and 2020 were as follows:


	December 31,
	2022		2021		2020
Cost of revenue	$	507	$	86	$	—
Sales and marketing	13,520		16,090		—
Technology and development	9,937		11,196		—
General and administrative	20,788		31,395		—
Total	$	44,752	$	58,766	$	—

Property and equipment, net - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,347	$ 3,796
Less: Accumulated depreciation and amortization	(2,935)	(2,383)
Total property and equipment, net	2,412	1,413
Computer and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,761	3,100
Computer software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	218	218
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,060	$ 412
Furniture
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years	5 years
Property and equipment, gross	$ 308	$ 66
Minimum \| Computer and office equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	1 year	1 year
Minimum \| Computer software
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years	3 years
Maximum \| Computer and office equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years	3 years
Maximum \| Computer software
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years	5 years

Description of business	12 Months Ended
Description of business	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of business	Description of business Integral Ad Science Holding, Corp. and its wholly-owned subsidiaries (together, the “Company”), formerly known as Kavacha Topco, LLC, is a leading global digital advertising verification company by revenue. The Company’s mission is to be the global benchmark for trust and transparency in digital media quality for the world’s leading brands, publishers, and platforms.The Company’s cloud-based technology platform provides actionable insights and delivers independent measurement and verification of digital advertising across all devices, channels, and formats, including desktop, mobile, connected TV (“CTV”), social, display, and video. The Company’s proprietary and Media Rating Council (the “MRC”) accredited Quality Impressions® metric is designed to verify that digital ads are served to a real person rather than a bot, viewable on-screen, and appear in a brand-safe and suitable environment in the correct geography. The Company is an independent, trusted partner for buyers and sellers of digital advertising to increase accountability, transparency, and effectiveness in the market. The Company helps advertisers optimize their ad spend and better measure consumer engagement with campaigns across platforms, while enabling publishers to improve their inventory yield and revenue. The Company has its operations within the United States ("U.S.") in New York, California, and Illinois. Operations outside the U.S. include but are not limited to countries such as the United Kingdom ("U.K."), France, Germany, Italy, Singapore, Australia, France, Japan, and India. Corporate conversion On February 23, 2021, the Company amended the certificate of formation of Kavacha Topco, LLC to change the name of the Company to Integral Ad Science Holding LLC and on June 29, 2021, the Company converted to a Delaware corporation pursuant to a statutory conversion and changed its legal name to Integral Ad Science Holding Corp. in connection with its initial public offering ("IPO"). All of the outstanding member units were converted into 134,203,403 shares of common stock of the Company on a proportion of 1 member unit for 242 shares of common stock with the same voting rights. On June 29, 2021, the Company priced its IPO, which closed on July 2, 2021.

Net income (loss) per share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	6,715,289	9,075,122	6,109,427
Options to purchase common stock/member units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	4,464,179	6,648,975	6,109,427
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1,834,100	2,426,147	0
MSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	417,010	0	0

Income taxes - Income Tax Rate Reconciliation (Details)	12 Months Ended
Income taxes - Income Tax Rate Reconciliation (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	(41.30%)	1.70%	13.90%
Effect of non-U.S. operations	(0.70%)	(0.40%)	(0.30%)
Section 162(m)	24.40%	(10.90%)	0.00%
Stock-based compensation	23.80%	(0.90%)	0.00%
Transaction expenses	(14.70%)	(1.40%)	0.00%
US tax on foreign earnings	(6.50%)	(5.70%)	0.00%
R&D and other credits	(23.30%)	3.70%	0.00%
Change in valuation allowance	0.00%	(1.00%)	0.00%
CARES Act	0.00%	0.00%	(1.80%)
Other	(0.20%)	0.20%	(4.00%)
Benefit from income taxes	(17.50%)	6.30%	28.80%

Condensed Financial Information of Registrant (Parent Company Only)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Registrant (Parent Company Only)

INTEGRAL AD SCIENCE HOLDING CORP.

(PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS


	December 31,
(IN THOUSANDS, EXCEPT SHARE DATA)	2022		2021
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—
Total current assets	—		—
Investment in subsidiaries	808,216		767,190
Total assets	$	808,216	$	767,190
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities	$	—	$	—
Total current liabilities	—		—
Total liabilities	—		—
Commitments and Contingencies (Note 15)
Members’/Stockholders’ Equity
Units, $0 par value, 0 units authorized at December 31, 2022, 0 units issued and outstanding at December 31, 2022 and 2021	—		—
Common Stock, $0.001 par value, 500,000,000 shares authorized at December 31, 2022, 153,990,128 and 154,398,495 shares issued and outstanding at December 31, 2022 and 2021, respectively	154		154
Additional paid-in-capital	810,186		781,951
Accumulated other comprehensive (loss) income	(2,899)		(315)
Accumulated earnings (deficit)(1)	775		(14,600)
Total stockholders’ equity	808,216		767,190
Total liabilities and stockholders’ equity	$	808,216	$	767,190

(1) Balances prior to the Company’s conversion to a Delaware corporation have been reclassified to additional paid-in capital to give effect to the corporate conversion described in Note 1.

INTEGRAL AD SCIENCE HOLDING CORP.

(PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF OPERATIONS


	Year Ended December 31,
	2022		2021		2020
Revenue	$	—	—		—
Operating expenses	—		—		—
Operating income	—		—		—
Interest income, net	—		—		—
Income before provision for income taxes and equity in net income of subsidiaries	—		—		—
Benefit from income taxes	—		—		—
Equity in net income (loss) of subsidiaries	15,373		(52,437)		(32,374)
Net income (loss)	$	15,373	$	(52,437)	$	(32,374)

INTEGRAL AD SCIENCE HOLDING CORP.

(PARENT COMPANY ONLY)

CONDENSED STATEMENT OF COMPREHENSIVE INCOME (LOSS)


	Year Ended December 31,
	2022		2021		2020
Net income (loss)	$	15,373	$	(52,437)	$	(32,374)
Other comprehensive loss, net of tax:	—		—		—
Subsidiaries’ other comprehensive (loss) income	(2,584)		(4,838)		4,348
Total other comprehensive (loss) income	(2,584)		(4,838)		4,348
Total comprehensive loss	$	12,789	$	(57,275)	$	(28,026)

Business and basis of presentation

Description of business

The Company owns 100% of Kavacha Intermediate, LLC, which owns 100% of Kavacha Holdings, Inc, which owns 100% of Integral Ad Science, Inc.

The Company, formerly known as Kavacha Topco, LLC, is a holding company with no material operations of its own, no direct outstanding debt obligations and it conducts substantially all its activities through its subsidiaries. The Company’s wholly owned subsidiaries are subject to the terms and restrictions in the Credit Agreement and prior to September 29, 2021, they were subject to the restrictions in the Prior Credit Agreement. Included in the Credit Agreement and Prior Credit Agreement are terms that limit the ability of the borrower, Integral Ad Science, Inc., to pay dividends or lend to the Company. Those limitations are subject to certain exceptions as defined in the Credit Agreement and prior to September 29, 2021, as defined in the Prior Credit Agreement. The Credit Agreement and the Prior Credit Agreement limits the ability of Integral Ad Science Inc. and the Company’s subsidiaries to, among other things, pay dividends or distributions, incur additional debt, incur liens on assets, enter into certain investments, loans or advances, and enter into merger or consolidation agreements. As a result of the aforementioned restrictions, substantially all of the assets of the Company’s subsidiaries are restricted.

Basis of presentation

These condensed financial statements have been presented on a “parent-only” basis. Under a parent-only presentation, the parent’s investments in subsidiaries are presented under the equity method of accounting. A condensed statement of cash flows was not presented because the parent has no material operating, investing, or financing cash flow activities for the years ended December 31, 2022, 2021 and 2020. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. As such, these parent-only statements should be read in conjunction with the accompanying notes to the consolidated financial statements.

Stock-based compensation - Narrative (Details)				4 Months Ended	8 Months Ended	12 Months Ended
Stock-based compensation - Narrative (Details)	Aug. 01, 2022	Jun. 29, 2021	Aug. 01, 2018	Apr. 30, 2022	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 USD ($) day shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Jul. 02, 2021 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2019 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense						$ 44,752,000	$ 58,766,000	$ 0
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense						$ 313,000
Stock authorized for awards (in shares) \| shares					1,489,571	1,489,571
Increase in stock reserved for future issuance, proportion of common stock outstanding (as a percent)						1.00%
Increase in stock reserved for future issuance, maximum shares of common stock allotted for ESPP (in shares) \| shares					16,000,000	16,000,000
Maximum employee payroll deductions of eligible compensation for ESPP (as a percent)					15.00%	15.00%
Maximum annual employee payroll deductions of eligible compensation for ESPP					$ 25,000	$ 25,000
Purchase price of ESPP shares, percent	85.00%
Offering period	6 months
Stock issued under the ESPP (in shares) \| shares						0
Stock Options \| 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense						$ 13,727,000	47,296,000
Stock Options \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense						$ 3,094,000	1,774,000
Stock options outstanding (in shares) \| shares					1,439,293	1,439,293
Stock authorized for awards (in shares) \| shares					27,421,802	27,421,802
Period of increase in stock reserved for future issuance		10 years
Increase in stock reserved for future issuance, proportion of common stock outstanding (as a percent)		5.00%
Time Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of awards					$ 12,163,000	$ 12,163,000	$ 98,055,000	$ 0			$ 0
Stock options outstanding (in shares) \| shares					4,251,290	4,251,290	6,648,975	6,109,427			5,679,152
Unrecognized stock-based compensation expense					$ 12,411,000	$ 12,411,000
Recognition period for unamortized stock-based compensation expense						2 years 1 month 9 days
Time Based Options \| 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			4 years
Time Based Options \| 2018 Plan \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			12 months
Award vesting rate (as a percent)			25.00%
Time Based Options \| 2018 Plan \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)			6.25%
Time Based Options \| Amended and Restated 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of awards										$ 74,566,000
Stock options outstanding (in shares) \| shares					3,292,084	3,292,084
Time Based Options \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares) \| shares					959,206	959,206
Return Target Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of awards					$ 6,190,000	$ 6,190,000	$ 47,947,000	$ 0			$ 0
Stock options outstanding (in shares) \| shares					2,153,264	2,153,264	3,265,126	3,054,701			2,839,574
Unrecognized stock-based compensation expense					$ 26,108,000	$ 26,108,000
Return Target Options \| 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum equity return multiple			3.0
Return Target Options \| Amended and Restated 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold for vesting based on cash redemption									$ 1,170,000,000
Fair value of awards									$ 36,395,000
Stock-based compensation expense						$ 0
Stock options outstanding (in shares) \| shares					1,673,177	1,673,177
Return Target Options \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares) \| shares					480,087	480,087
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense						$ 22,548,000	$ 6,336,000
Unrecognized stock-based compensation expense					$ 84,135,000	$ 84,135,000
Recognition period for unamortized stock-based compensation expense						3 years 3 months 18 days
RSUs \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				4 years	4 years
Award vesting rate (as a percent)				25.00%	6.25%
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense					$ 6,000,000	$ 6,000,000
PSUs \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense						0
MSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense						5,070,000
Unrecognized stock-based compensation expense					$ 12,526,000	$ 12,526,000
Recognition period for unamortized stock-based compensation expense						3 years 7 months 6 days
MSUs \| 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						4 years
Vesting eligibility, payout factor calculation, measurement period for average closing stock price, number of trading days preceding vesting date \| day						10
Vesting eligibility payout factor calculation, maximum quotient allowable for minimum payout factor (less than)						0.60
MSUs \| 2021 Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting eligibility, payout factor						0
MSUs \| 2021 Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting eligibility, payout factor						2.25
MSUs \| 2021 Plan \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)						25.00%
MSUs \| 2021 Plan \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)						6.25%

Basis of presentation and summary of significant accounting policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	$ 5,883	$ 4,257	$ 5,843
Additional provision	1,837	3,024	2,200
Receivables written-off/reversals	(1,029)	(1,398)	(3,786)
Balance at the end of year	$ 6,691	$ 5,883	$ 4,257

Property and equipment, net (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following:


		December 31,
	Estimated Useful Lives	2022		2021
Computer and office equipment	1-3 years	$	3,761	$	3,100
Computer software	3-5 years	218		218
Leasehold improvements	Various	1,060		412
Furniture	5 years	308		66
		5,347		3,796
Less: Accumulated depreciation and amortization		(2,935)		(2,383)
Total property and equipment, net		$	2,412	$	1,413

Long-term debt - Future Principal Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Maturities of Long-term Debt [Abstract]
2023	$ 0
2024	0
2025	0
2026	225,000
Total principal payments	$ 225,000

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Stock-based compensation

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-based compensation

Integral Ad Science Holding Corp. Amended and Restated 2018 Non-Qualified Stock Option Plan

On August 1, 2018, the Company adopted the 2018 Non-Qualified Stock Option Plan (“2018 Plan”). Under the 2018 Plan, the Company had issued (i) Time-Based Options that vest over four years with 25% vesting after twelve months and an additional 6.25% vesting at the end of each successive quarter thereafter; and (ii) Return-Target Options that vest upon the first to occur of sale of the Company, or, sale or transfer to any third party of shares, as a result of which, any person or group other than Vista, obtains possession of voting power to elect a majority of the Company’s board of directors or any other governing body and the achievement of a total equity return multiple of 3.0 or greater.

The 2018 Plan contained a provision wherein, the Time-Based Options can be repurchased by the Company at cost upon resignation of the employee. Due to this repurchase feature, the Time-Based Options did not automatically provide the employee with the potential benefits associated with a stock award holder, and therefore, these awards were not accounted for as a stock-based award under ASC 718, Compensation - Stock Compensation but instead, compensation cost was recognized when the benefit to the employee was determined to be probable.

The Return-Target Options were considered to contain both market (total stockholder return threshold) and performance (exit event) conditions. As such, the award was measured on the date of grant. Since the conditions for vesting related to the Return-Target Options were not met prior to the IPO, no stock-based compensation was recognized in the pre-IPO financial statements of the Company.

In connection with the Company’s IPO, the 2018 Plan was amended and restated (“Amended and Restated 2018 Plan”) with the following modifications: (i) the provision to repurchase the Time-Based Options at cost upon resignation of the employee was removed and (ii) the Return-Target Options were modified to include vesting upon a sale of shares by Vista following the IPO resulting in Vista realizing a cash return on its investment in the Company equaling or exceeding $1.17 billion.

As a result of the modification to the Time-Based Options, the awards became subject to the guidance in ASC 718, Compensation - Stock Compensation. The fair value of the Time-Based Options under the 2018 Plan as of June 30, 2021, the modification date, was $74,566. During the years ended December 31, 2022, and 2021 the Company recognized stock compensation expense of $13,727 and $47,296, respectively related to the Time-Based Options.

As the return multiple and vesting conditions associated with the Return-Target Options were also modified, the Company fair valued the Return-Target Options using a Monte Carlo simulation model which resulted in a fair value of $36,395 on the modification date. The Return-Target Options become exercisable following both (i) a registration of shares of common stock held by Vista and (ii) Vista realizing a cash return on its investment in the Company equaling or exceeding $1.17 billion. As of December 31, 2022, the condition relating to Vista's cash return was not deemed probable and therefore, no stock-based compensation expense was recognized relating to the Return-Target Options.

Vesting of the Time-Based Options accelerates when the Return-Target Options vest and therefore, recognition of the remaining unamortized stock compensation expense related to the Time-Based Options will accelerate when it becomes probable that the Return-Target Options would vest.

The total number of Time-Based Options and Return Target Options outstanding under the Amended and Restated 2018 Plan as of December 31, 2022 were 3,292,084 and 1,673,177, respectively. The Company does not expect to issue any additional awards under the Amended and Restated 2018 Plan.

2021 Omnibus Incentive Plan (“2021 Plan”)

On June 29, 2021, the Company adopted the 2021 Plan to incentivize executive officers, management, employees, consultants and directors of the Company and to align the interests of the participants with those of the Company’s shareholders. As of December 31, 2022, there were 27,421,802 shares reserved for issuance under the 2021 Plan and the total number of shares reserved for issuance under the 2021 Plan will be increased on January 1 of each of the first 10 calendar years during the term of the 2021 Plan, by the lesser of (i) 5% of the total number of shares of common stock outstanding on each December 31 immediately prior to the date of increase or (ii) such number of shares of common stock determined by our Board or compensation committee.

During the years ended December 31, 2022 and 2021, the Company recognized stock compensation expense of $3,094 and $1,774, respectively related to the stock options. As of December 31, 2022, there are 1,439,293 total options outstanding under the 2021 Plan, consisting of 959,206 Time-Based Options and 480,087 Return-Target Options. The vesting conditions for the options issued under the 2021 Plan are identical to those described under the Amended and Restated 2018 Plan.

Time Based Service Option activity

Time Based Service Option activity is as follows:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2021	6,648,975	$	7.46	7.76	$	98,055
Granted	—	—		—	—
Canceled or forfeited	(810,957)	10.04		—	—
Exercised	(1,586,728)	4.51		—	—
Outstanding at December 31, 2022	4,251,290	$	8.07	6.97	$	12,163
Vested and expected to vest as of December 31, 2022	4,251,290	$	8.07	6.97	$	12,163
Exercisable at December 31, 2022	3,033,235	$	6.34	6.59	$	10,878


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2020	6,109,427	$	4.82	8.47	$	—
Granted	1,381,646	17.49		9.14	$	—
Canceled or forfeited	(595,729)	4.95		—	$	—
Exercised	(246,369)	4.36		—	$	—
Outstanding at December 31, 2021	6,648,975	$	7.46	7.76	$	98,055
Vested and expected to vest as of December 31, 2021	6,648,975	7.46		7.76	$	98,055
Exercisable at December 31, 2021	3,169,868	4.47		6.20	$	56,227


	Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2019	$	5,679,152	$	4.17	9.10	$	—
Granted	1,628,068		6.77		9.60	—
Canceled or forfeited	(1,197,793)		4.34		—	—
Exercised	—		—		—	—
Outstanding at December 31, 2020	6,109,427		$	4.82	8.47	$	—
Vested and expected to vest as of December 31, 2020	6,109,427		$	4.82	8.47	$	—
Exercisable at December 31, 2020	1,848,880		$	4.17	8.16	$	—

Return-Target Option activity

Return-Target Option activity is as follows:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2021	3,265,126	$	7.53	7.27	$	47,947
Granted	—	—		—	—
Canceled or forfeited	(1,111,862)	6.54		—	—
Exercised	—	—		—	—
Outstanding at December 31, 2022	2,153,264	$	8.03	6.97	$	6,190
Vested and expected to vest as of December 31, 2022	2,153,264	$	8.03	6.97	$	6,190
Exercisable as of December 31, 2022	—	$	—	—	$	—


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2020	3,054,701	$	4.82	8.47	$	—
Granted	691,306	17.49		9.14	—
Canceled or forfeited	(480,881)	4.69		—	—
Exercised	—	—		—	—
Outstanding at December 31, 2021	3,265,126	$	7.53	7.27	$	47,947
Vested and expected to vest as of December 31, 2021	3,265,126	$	7.53	7.27	$	47,947
Exercisable as of December 31, 2021	—	$	—	—	$	—


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Intrinsic Value
Outstanding at December 31, 2019	2,839,574	$	4.17	9.10	$	—
Granted	814,035	6.77		9.60	—
Canceled or forfeited	(598,908)	4.34		—	—
Exercised	—	—		—	—
Outstanding at December 31, 2020	3,054,701	$	4.82	8.47	$	—
Vested and expected to vest as of December 31, 2020	3,054,701	$	4.82	8.47	$	—
Exercisable as of December 31, 2020	—	$	—	—	$	—

As of December 31, 2022, unamortized stock-based compensation expense related to the Time-Based Options was $12,411, which will be recognized over the weighted average vesting term of 2.11 years. In addition, unamortized stock-based compensation expense related to the Return-Target Options of $26,108 will be recognized when events that trigger vesting are deemed probable.

Restricted Stock Units

The RSUs under the 2021 Plan granted before April 2022 vest 25% each year and become fully vested after 4 years of service. Beginning in April 2022, the majority of RSUs began vesting 6.25% at the end of each successive quarter and become fully vested after 4 years of service.

RSU activity for the years ended December 31, 2022 and 2021 is as follows:


	RSUs
	Number of Shares	Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2021	26,931	$	5.57
Granted	2,667,591	19.32
Canceled or forfeited	(241,444)	18.23
Vested	(26,931)	5.57
Outstanding as of December 31, 2021	2,426,147	$	19.43
Granted	8,050,276	$	10.78
Canceled or forfeited	(1,306,090)	16.17
Vested	(1,084,966)	15.48
Outstanding at December 31, 2022	8,085,367	11.88
Vested and expected to vest as of December 31, 2022	8,085,367

During the years ended December 31, 2022, and 2021, the Company recognized $22,548 and $6,336 of stock-based compensation expense related to these RSU awards, respectively. Unamortized stock-based compensation expense related to RSUs as of December 31, 2022 was $84,135, which will be recognized over the weighted average vesting term of 3.3 years.

Performance Stock Units

The Company granted Performance Stock Units (“PSUs”) under the 2021 Plan, which are contingent upon achieving specified revenue performance goals by December 31, 2023. As of December 31, 2022, no stock-based compensation expense has been recognized as performance vesting conditions were not deemed probable to occur. The unrecognized compensation expense is $6,000 assuming performance at the highest tier.

Market Stock Units

The Company granted MSUs under the 2021 Plan to certain executive officers. MSUs vest over four years, 25% on the first anniversary of the vesting commencement date and 6.25% at the end of each quarter thereafter. The number of MSUs eligible to vest is based on the performance of the Company's common stock over each vesting period. The number of shares eligible to vest is calculated based on a payout factor. The payout factor is calculated by dividing the average closing price of the Company's stock during the ten trading days immediately preceding the applicable vesting date by the closing price of the Company's stock on the vesting commencement date. The payout factor is zero if the quotient is less than 0.60 and is capped at 2.25. This quotient is then multiplied by the target number of MSUs granted to the relevant officer to determine the number of shares to be issued to the officer at vesting. The grant date fair value of the MSUs was determined using a Monte-Carlo simulation. The Company uses the accelerated attribution method to account for these awards.

MSU activity for the year ended December 31, 2022 is as follows:


	MSUs
	Number of Shares	Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2022	—	$	—
Granted	1,465,286	14.53
Canceled or forfeited	(256,024)	14.41
Vested	—	—
Outstanding at December 31, 2022	1,209,262	$	14.55
Vested and expected to vest as of December 31, 2022	1,209,262

During the year ended December 31, 2022, the Company recognized stock-based compensation expense of $5,070 related to the MSU awards. Unamortized stock-based compensation expense related to MSUs was $12,526, which will be recognized over the weighted average vesting term of 3.6 years.

2021 Employee Stock Purchase Plan (“ESPP”)

The Company adopted the ESPP for the primary purpose of incentivizing employees in future periods. As of December 31, 2022, 1,489,571 shares of common stock are reserved for issuance under the ESPP, and the number of shares available for issuance will be increased on January 1 of each calendar year beginning in 2022 and ending in and including 2031, by an amount equal to the lesser of (i) 1% of the shares outstanding on the final day of the immediately preceding calendar year and (ii) such smaller number of shares as is determined by our Board, subject to a maximum of 16,000,000 shares of our common stock for the portion of the ESPP intended to qualify as an employee stock purchase plan under Section 423 of the Internal Revenue Code. All Company employees and employees of designated subsidiaries are eligible to participate in the ESPP and can purchase shares through payroll deductions of up to 15% of their eligible compensation, subject to a maximum of $25,000 in any annual period for the portion of the ESPP intended to qualify as an employee purchase plan under Section 423 of the Internal Revenue Code.

The ESPP provides eligible employees the opportunity to purchase shares of the Company's common stock through payroll deductions at a price equal to 85% of the fair market value of the shares on the first business day of the offering period or the last business day of the offering period, whichever is lower. The six month offering under the ESPP commenced on August 1, 2022. There are no shares issued under the ESPP plan as of December 31, 2022. Stock-based compensation expense recognized in the year ended December 31, 2022 was $313.

Total stock-based compensation expense for all equity arrangements for the years ended December 31, 2022, 2021, and 2020 were as follows:


	December 31,
	2022		2021		2020
Cost of revenue	$	507	$	86	$	—
Sales and marketing	13,520		16,090		—
Technology and development	9,937		11,196		—
General and administrative	20,788		31,395		—
Total	$	44,752	$	58,766	$	—

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	New York, New York

Long-term debt - Narrative (Details) $ in Thousands			12 Months Ended
Long-term debt - Narrative (Details) $ in Thousands	Dec. 23, 2021 USD ($)	Sep. 29, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 0	$ 3,721	$ 0
Amortization of debt issuance costs			464	1,136	$ 1,365
Interest expense			9,055	$ 17,749
Revolving Credit Facility \| Credit Agreement
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		$ 300,000
Incremental increases in maximum borrowing capacity		5,000
Proceeds from line of credit	$ 10,000	235,000	15
Repayments of long-term lines of credit			$ 35
Debt costs		$ 2,318
Effective interest rate on debt (as a percent)			6.20%
Minimum net leverage ratio		3.50
Minimum interest coverage ratio		2.50
Revolving Credit Facility \| Credit Agreement \| Minimum
Debt Instrument [Line Items]
Commitment fee rate (as a percent)		0.20%
Revolving Credit Facility \| Credit Agreement \| Minimum \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		0.75%
Revolving Credit Facility \| Credit Agreement \| Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.75%
Revolving Credit Facility \| Credit Agreement \| Minimum \| Sterling
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.7826%
Revolving Credit Facility \| Credit Agreement \| Minimum \| Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.7965%
Revolving Credit Facility \| Credit Agreement \| Maximum
Debt Instrument [Line Items]
Commitment fee rate (as a percent)		0.35%
Revolving Credit Facility \| Credit Agreement \| Maximum \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.50%
Revolving Credit Facility \| Credit Agreement \| Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.50%
Revolving Credit Facility \| Credit Agreement \| Maximum \| Sterling
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.5326%
Revolving Credit Facility \| Credit Agreement \| Maximum \| Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		2.5456%
Revolving Credit Facility \| Prior Credit Agreement
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 3,721
Letter of Credit \| Credit Agreement
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		30,000
Incremental increases in maximum borrowing capacity		5,000
Alternative Currency \| Credit Agreement
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		100,000
Incremental increases in maximum borrowing capacity		$ 5,000

Income taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 932	$ 0
Additions based on tax positions related to the current year	896	531
Additions based on tax positions related to prior years	980	401
Reductions due to lapse in status of limitations and settlements	0	0
Balance at end of year	$ 2,808	$ 932

Business combinations (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The allocation of purchase consideration to the assets acquired and liabilities assumed is as follows:


	Fair Value		Useful Life
Assets acquired:
Cash and cash equivalents	$	4,482
Accounts receivable	2,391
Property, plant and equipment	46
Taxes receivable and prepaid expenses	188
Security deposits	12
Intangible assets:
Developed technology	15,200		5 years
Trademarks	2,200		5 years
Customer relationships	42,800		6 years
Total intangible assets	60,200
Total identifiable assets acquired	$	67,319
Liabilities assumed:
Accounts payable	$	560
Other current liabilities	2
Deferred tax liability	36,161
Total liabilities assumed	36,723
Goodwill	190,401		Indefinite
Total purchase consideration	$	220,997

The allocation of purchase consideration to the assets acquired and liabilities assumed is as follows:


	Fair Value		Useful Life
Assets acquired:
Accounts receivable	$	122
Other assets	112
Developed technology	7,670		5 years
Total identifiable assets acquired	$	7,904
Liabilities assumed:
Accounts payable	$	318
Short-term debt	2,354
Deferred tax liability	142
Total liabilities assumed	2,814
Goodwill	27,876		Indefinite
Total purchase consideration	$	32,966

Accounts payable and accrued expenses and other long term liabilities - Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts payable	$ 10,487	$ 8,307
Accrued payroll	12,623	5,047
Accrued professional fees	3,150	2,334
Accrued bonuses and commissions	16,527	16,454
Accrued revenue sharing	3,522	8,497
Taxes payable	3,130	6,076
Short term debt	0	1,976
Accrued hosting fees	5,949	2,465
Cease use liability (short-term)	0	1,298
Other accrued expenses	5,411	3,803
Total accounts payable and accrued expenses	$ 60,799	$ 56,257

Basis of presentation and summary of significant accounting policies - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 86,877	$ 73,210
Short-term restricted cash	45	70
Long-term restricted cash (held in other long-term assets)	2,749	2,798
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$ 89,671	$ 76,078	$ 54,721	$ 30,370

Members’/ Stockholders’ equity	12 Months Ended
Members’/ Stockholders’ equity	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Members’/ Stockholders’ equity	Members’/Stockholders' equity As discussed in Note 1, "Description of business," the Company converted to a Delaware corporation, which created new elements of the capital structure on June 30, 2021, and modified existing elements of the capital structure in place on December 31, 2020. Common stock As of December 31, 2022, our authorized common stock consists of 500,000,000 shares of common stock, par value $0.001 per share and 50,000,000 preferred stock, par value $0.001 per share. During the year ended December 31, 2022, the Company issued 1,084,966 shares of common stock for vested RSUs and employees exercised stock options in exchange for 1,586,728 shares of common stock for $7,155. During the year ended December 31, 2022, the Company repurchased 3,080,061 shares of common stock for $23,655. The repurchase in excess of par value for the year ended December 31, 2022 were $23,652. During the year ended December 31, 2021, the Company issued and sold 15,000,000 shares of common stock in connection with the closing of its IPO on July 2, 2021 and 1,821,330 shares of common stock in connection with the exercise of the underwriters' option to purchase additional shares that closed on July 28, 2021. The Company issued 2,888,889 shares of common stock in connection with its acquisition of Publica, and 457,959 shares of common stock in connection with its acquisition of Context. During the year ended December 31, 2021, the Company also issued 26,931 shares of common stock for vested RSUs. Members’ equity Prior to the IPO, the Company was a single member LLC, and the Company’s Board of Directors, through the Kavacha Topco, LLC Amended and Restated Limited Liability Company Agreement (the “Operating Agreement”), had the authority to admit additional members. Under the terms of the Operating Agreement, the members of the Company were not obligated for debt, liabilities, contracts or other obligations of the Company. Profits and losses are allocated to members as defined in the Operating Agreement. In conjunction with the pricing of the IPO, the Operating Agreement was terminated, and the Company converted from a Delaware domestic limited liability company to a Delaware domestic corporation. All outstanding member units were converted into 134,203,403 shares of common stock of the Company on a proportion of 1 member unit for 242 shares of common stock. For the year ended December 31, 2021, the Company repurchased 99,946 shares of common stock from members of the Company prior to the IPO, for $1,204. The repurchases in excess of par value for the year ended December 31, 2021 were $791. The repurchase of shares has been accounted for as a reduction in members’/shareholders’ equity in these consolidated financial statements. For the year ended December 31, 2021, the Company also issued 17,486 shares of common stock from members of the Company prior to the IPO, for vested RSUs and issued 246,369 shares of common stock from members of the Company prior to the IPO for options exercised during the year, for $4,435. The Company received proceeds of $3,360 from the exercise. For the year ended December 31, 2020, the Company repurchased 35,090 shares of common stock from members of the Company, for $167. The repurchases in excess of par value for the year ended December 31, 2020 was $22. The repurchase of shares has been accounted for as a reduction in members’/shareholders’ equity in these consolidated financial statements. For the year ended December 31, 2020, the Company also issued 39,980 shares of common stock from members of the Company prior to the IPO for vested RSUs.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

Restructuring (Tables)

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Summary of Restructuring Charge

The restructuring charge was recorded as follows:


	December 31, 2022
Cost of revenue	128
Sales and marketing	1,248
Technology and development	3,114
General and administrative	805
Total	$	5,295

Stock-based compensation - Restricted Stock Unit and Market Stock Unit Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
RSUs
Number of Shares
Beginning balance (in shares)	2,426,147	26,931
Granted (in shares)	8,050,276	2,667,591
Canceled or forfeited (in shares)	(1,306,090)	(241,444)
Vested (in shares)	(1,084,966)	(26,931)
Ending balance (in shares)	8,085,367	2,426,147
Vested and expected to vest (in shares)	8,085,367
Weighted Average Grant Date Fair Value
Weighted average grant date fair value - outstanding beginning balance (in usd per share)	$ 19.43	$ 5.57
Weighted average grant date fair value - granted (in usd per share)	10.78	19.32
Weighted average grant date fair value - canceled or forfeited (in usd per share)	16.17	18.23
Weighted average grant date fair value - vested (in usd per share)	15.48	5.57
Weighted average grant date fair value - outstanding ending balance (in usd per share)	$ 11.88	$ 19.43
MSUs
Number of Shares
Beginning balance (in shares)	0
Granted (in shares)	1,465,286
Canceled or forfeited (in shares)	(256,024)
Vested (in shares)	0
Ending balance (in shares)	1,209,262	0
Vested and expected to vest (in shares)	1,209,262
Weighted Average Grant Date Fair Value
Weighted average grant date fair value - outstanding beginning balance (in usd per share)	$ 0
Weighted average grant date fair value - granted (in usd per share)	14.53
Weighted average grant date fair value - canceled or forfeited (in usd per share)	14.41
Weighted average grant date fair value - vested (in usd per share)	0
Weighted average grant date fair value - outstanding ending balance (in usd per share)	$ 14.55	$ 0

Restructuring

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring

In December 2022, the Company announced a reduction in workforce of approximately 120 employees to better align resources, consistent with the Company’s strategy of increasing operational efficiency and improving productivity. The Company expects to complete within the next six months.

The Company recognizes a liability and the related expense for these restructuring costs when the liability is incurred and can be measured. Restructuring accruals are based upon management estimates at the time and can change depending upon changes in facts and circumstances subsequent to the date the original liability was recorded.

The restructuring charge was recorded as follows:


	December 31, 2022
Cost of revenue	128
Sales and marketing	1,248
Technology and development	3,114
General and administrative	805
Total	$	5,295

As of December 31, 2022, $980 had been paid and a restructuring reserve of $4,315 was recorded within Accounts payable and accrued expenses on the Consolidated Balance Sheets and is expected to be paid within the next twelve months.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000
Common stock, shares, outstanding (in shares)	153,990,128	154,398,495
Common stock, shares, issued (in shares)	153,990,128	154,398,495

Long-term Debt - Summary of Carrying Amount of The Term Loan (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Less: Unamortized long-term debt issuance costs	$ (1,738)	$ (2,202)
Total carrying amount	223,262	242,798
Revolving Credit Facility
Debt Instrument [Line Items]
Revolver	$ 225,000	$ 245,000

Basis of presentation and summary of significant accounting policies - Valuation Assumptions of Stock Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated fair value (in dollars per share)			$ 2.29
Dividend yield	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated fair value (in dollars per share)	$ 3.26	$ 8.16
Expected volatility (%)	70.00%	65.00%	70.00%
Expected term (in years)	6 months	3 years	3 years 3 months
Risk-free interest rate (%)	2.96%	0.46%	0.26%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated fair value (in dollars per share)	$ 15.15	$ 14.04
Expected volatility (%)	80.00%	80.00%	75.00%
Expected term (in years)	4 years	10 years	6 years 7 months 17 days
Risk-free interest rate (%)	3.97%	0.98%	0.55%

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lease, Cost

The following table presents components of lease cost recorded in the Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) for the year ended December 31, 2022.


	December 31, 2022
Lease costs:
Operating lease costs	$	7,141
Short-term lease costs	3,393
Variable lease costs	395
Sublease income	(2,624)
Total lease costs	$	8,306

Lessee, Operating Lease, Liability, Maturity

As of December 31, 2022, the maturities of remaining lease payments included in the measurement of operating leases are as follows:


Year Ended December 31,
2023	$	7,780
2024	7,232
2025	7,309
2026	6,084
2027	2,093
Thereafter	3,933
Total lease payments	34,430
Less: imputed interest	$	(4,806)
Total operating lease liability	$	29,624

Business combinations - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Aug. 09, 2021	Dec. 31, 2022	Dec. 31, 2020
Liabilities assumed:
Goodwill	$ 676,513		$ 674,094	$ 458,586
Publica
Assets acquired:
Cash and cash equivalents		$ 4,482
Accounts receivable		2,391
Property, plant and equipment		46
Taxes receivable and prepaid expenses		188
Security deposits		12
Intangible assets:		60,200
Total intangible assets		67,319
Liabilities assumed:
Accounts payable		560
Other current liabilities		2
Deferred tax liability		36,161
Total liabilities assumed		36,723
Goodwill		190,401
Total purchase consideration		220,997
Publica \| Developed technology
Assets acquired:
Intangible assets:		$ 15,200
Liabilities assumed:
Estimate useful lives of acquired intangible assets		5 years
Publica \| Trademarks
Assets acquired:
Intangible assets:		$ 2,200
Liabilities assumed:
Estimate useful lives of acquired intangible assets		5 years
Publica \| Customer relationships
Assets acquired:
Intangible assets:		$ 42,800
Liabilities assumed:
Estimate useful lives of acquired intangible assets		6 years
Nobora SAS (Context)
Assets acquired:
Accounts receivable	122
Other assets	112
Total intangible assets	7,904
Liabilities assumed:
Accounts payable	318
Short-term debt	2,354
Deferred tax liability	142
Total liabilities assumed	2,814
Goodwill	27,876
Total purchase consideration	32,966
Nobora SAS (Context) \| Developed technology
Assets acquired:
Intangible assets:	$ 7,670
Liabilities assumed:
Estimate useful lives of acquired intangible assets	5 years