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Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2020	Apr. 27, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-37468
Entity Registrant Name	AppFolio, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0359894
Entity Address, Address Line One	50 Castilian Drive
Entity Address, City or Town	Santa Barbara,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	93117
City Area Code	805
Local Phone Number	364-6093
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Class A Common Stock, $0.0001 par value
Trading Symbol	APPF
Security Exchange Name	NASDAQ
Entity Central Index Key	0001433195
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		16,712,280
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		17,536,442

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 56,779	$ 15,813
Investment securities—current	7,952	22,876
Accounts receivable, net	9,617	7,562
Prepaid expenses and other current assets	18,362	15,540
Total current assets	92,710	61,791
Investment securities—noncurrent	6,676	12,089
Property and equipment, net	22,536	14,744
Operating lease right-of-use assets	26,750	27,803
Capitalized software, net	32,587	30,023
Goodwill	58,425	58,425
Intangible assets, net	20,121	21,377
Deferred taxes	27,212	27,574
Other long-term assets	6,410	6,276
Total assets	293,427	260,102
Current liabilities
Accounts payable	2,509	1,927
Accrued employee expenses	11,833	17,758
Accrued expenses	11,419	10,833
Deferred revenue	5,732	4,600
Other current liabilities	5,636	11,139
Term loan, net—current portion	1,520	1,208
Total current liabilities	38,649	47,465
Operating lease liabilities	34,143	33,312
Revolving facility	49,000	0
Term loan, net	46,760	47,375
Total liabilities	168,552	128,152
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock, $0.0001 par value, 25,000 shares authorized and no shares issued and outstanding at March 31, 2020 and December 31, 2019	0	0
Additional paid-in capital	156,513	161,509
Accumulated other comprehensive income	165	33
Treasury stock, at cost, 419 and 371 shares of Class A common stock at March 31, 2020 and December 31, 2019, respectively	(25,756)	(21,562)
Accumulated deficit	(6,051)	(8,034)
Total stockholders’ equity	124,875	131,950
Total liabilities and stockholders’ equity	293,427	260,102
Class A common stock, $0.0001 par value, 250,000 shares authorized at March 31, 2020 and December 31, 2019; 17,089 and 16,923 shares issued at March 31, 2020 and December 31, 2019, respectively; 16,670 and 16,552 shares outstanding at March 31, 2020 and December 31, 2019, respectively
Stockholders’ equity:
Common stock	2	2
Class B common stock, $0.0001 par value, 50,000 shares authorized at March 31, 2020 and December 31, 2019; 17,536 and 17,594 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively
Stockholders’ equity:
Common stock	$ 2	$ 2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Preferred stock, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock (in shares)	419,000	371,000
Class A common stock
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	17,089,000	16,923,000
Common stock, shares outstanding (in shares)	16,670,000	16,552,000
Class B common stock
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	17,536,000	17,594,000
Common stock, shares outstanding (in shares)	17,536,000	17,594,000

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 72,495	$ 57,091
Costs and operating expenses:
Cost of revenue (exclusive of depreciation and amortization)	28,961	24,181
Sales and marketing	14,506	11,219
Research and product development	11,212	8,481
General and administrative	8,572	8,192
Depreciation and amortization	6,414	5,076
Total costs and operating expenses	69,665	57,149
Income (loss) from operations	2,830	(58)
Other income (expense), net	22	(1)
Interest expense, net	(494)	(497)
Income (loss) before provision for (benefit from) income taxes	2,358	(556)
Provision for (benefit from) income taxes	375	(4,281)
Net income	$ 1,983	$ 3,725
Net income per common share:
Basic (in dollars per share)	$ 0.06	$ 0.11
Diluted (in dollars per share)	$ 0.06	$ 0.11
Weighted average common shares outstanding:
Basic (in shares)	34,175	33,913
Diluted (in shares)	35,681	35,342

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 1,983	$ 3,725
Other comprehensive income:
Changes in unrealized gains on investment securities	132	129
Comprehensive income	$ 2,115	$ 3,854

- Definition

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

+ References + Details

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock Class A common stock	Common Stock Class B common stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2018		15,789,000	18,109,000
Beginning balance at Dec. 31, 2018	$ 91,846	$ 2	$ 2	$ 157,898	$ (178)	$ (21,562)	$ (44,316)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		14,000
Exercise of stock options	90	$ 0		90
Stock-based compensation	1,831			1,831
Vesting of restricted stock units, net of shares withheld for taxes (in shares)		58,000
Vesting of restricted stock units, net of shares withheld for taxes	(2,572)	$ 0		(2,572)
Vesting of early exercised shares	6			6
Conversion of Class B stock to Class A stock (in shares)		38,000	(38,000)
Conversion of Class B stock to Class A stock	0
Other comprehensive income	129				129
Net income	3,725						3,725
Ending balance (in shares) at Mar. 31, 2019		15,899,000	18,071,000
Ending balance at Mar. 31, 2019	95,055	$ 2	$ 2	157,253	(49)	(21,562)	(40,591)
Beginning balance (in shares) at Dec. 31, 2019		16,552,000	17,594,000
Beginning balance at Dec. 31, 2019	$ 131,950	$ 2	$ 2	161,509	33	(21,562)	(8,034)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	17,000	17,000
Exercise of stock options	$ 97			97
Stock-based compensation	1,365			1,365
Vesting of restricted stock units, net of shares withheld for taxes (in shares)		91,000
Vesting of restricted stock units, net of shares withheld for taxes	(6,458)			(6,458)
Conversion of Class B stock to Class A stock (in shares)		58,000	(58,000)
Conversion of Class B stock to Class A stock	0
Other comprehensive income	$ 132				132
Repurchase of common stock (in shares)	(48,002)	(48,000)
Repurchase of common stock	$ (4,194)					(4,194)
Net income	1,983						1,983
Ending balance (in shares) at Mar. 31, 2020		16,670,000	17,536,000
Ending balance at Mar. 31, 2020	$ 124,875	$ 2	$ 2	$ 156,513	$ 165	$ (25,756)	$ (6,051)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash from operating activities
Net income	$ 1,983	$ 3,725
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,414	5,076
Amortization of operating lease right-of-use assets	1,053	942
Deferred income taxes	362	(4,281)
Stock-based compensation	959	1,552
Other	(38)	27
Changes in operating assets and liabilities:
Accounts receivable	(1,616)	(2,051)
Prepaid expenses and other current assets	(2,822)	(3,577)
Other assets	(148)	660
Accounts payable	(362)	100
Accrued employee expenses	(5,427)	(2,867)
Accrued expenses	726	1,580
Deferred revenue	693	268
Operating lease liabilities	784	(735)
Other liabilities	522	(124)
Net cash provided by operating activities	3,083	295
Cash from investing activities
Purchases of available-for-sale investments	(649)	0
Proceeds from sales of available-for-sale investments	13,942	1,750
Proceeds from maturities of available-for-sale investments	7,250	2,250
Purchases of property, equipment and intangible assets	(7,992)	(1,030)
Additions to capitalized software	(6,822)	(4,658)
Cash paid in business acquisition, net of cash acquired	0	(54,004)
Net cash provided by (used in) investing activities	5,729	(55,692)
Cash from financing activities
Proceeds from stock option exercises	97	90
Tax withholding for net share settlement	(6,458)	(1,315)
Payment of contingent consideration	(5,977)	0
Proceeds from issuance of debt	49,437	597
Principal payments on debt	(749)	(909)
Payment of debt issuance costs	0	(360)
Purchase of treasury stock	(4,194)	0
Net cash provided by (used in) financing activities	32,156	(1,897)
Net increase (decrease) in cash, cash equivalents and restricted cash	40,968	(57,294)
Cash, cash equivalents and restricted cash
Beginning of period	16,247	74,506
End of period	57,215	17,212
Noncash investing and financing activities
Purchases of property and equipment included in accounts payable and accrued expenses	4,251	445
Additions of capitalized software included in accrued and accrued employee expenses	687	391
Stock-based compensation capitalized for software development	406	338
Tax withholding for net share settlement included in accrued employee expenses	0	1,258
Purchase consideration for acquisitions included in other current liabilities	0	6,000
Total cash, cash equivalents and restricted cash	$ 57,215	$ 17,212

Nature of Business	3 Months Ended
Nature of Business	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business AppFolio, Inc.'s (the "Company,"“we,” "us" or "our") mission is to revolutionize vertical industry businesses by providing great software and services. Today we offer industry-specific, cloud-based business software solutions, services and data analytics to the real estate market, which represents over 90% of our revenue, and, to a lesser extent, to the legal market. Although specific functionality varies by product, our core solutions address common business operations and interactions of businesses in our targeted verticals. In addition to our core solutions, we offer a range of optional, but often business-critical, Value+ services. Our Value+ services are built to enhance, automate and streamline processes and support workflows essential to our customers' businesses. Our real estate software solutions provide our property management customers with a system of record to automate essential business processes, a system of engagement to enhance business interactions between our customers and their clients and other stakeholders, and a system of intelligence to leverage data to predict and optimize business workflows that enable superior customer experiences and increase efficiency across our customers' businesses. We also provide software solutions to the legal market that enable law firms to administer their practice and manage their caseloads more efficiently by centralizing case details in a single system of record and system of engagement. The significant majority of our customers in the real estate market use our property management solutions. Our property management customers include third-party property managers and owner-operators who manage single- and multi-family residences, community associations, commercial properties, and student housing, as well as mixed real estate portfolios. Our legal customers are typically small law firms that directly and indirectly account for less than 10% of our annual revenue.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Significant Accounting Policies

The accompanying unaudited Condensed Consolidated Financial Statements were prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these Condensed Consolidated Financial Statements should be read in conjunction with our audited consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 ("Annual Report"), filed with the Securities and Exchange Commission ("SEC") on March 2, 2020. The year-end condensed balance sheet was derived from our audited consolidated financial statements. Our unaudited interim Condensed Consolidated Financial Statements include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of our Condensed Consolidated Financial Statements. The operating results for the three months ended March 31, 2020 are not necessarily indicative of the results expected for the full year ending December 31, 2020.

Reclassifications

We reclassified certain amounts in our Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows within the cash from operating activities section in the prior year to conform to the current year's presentation.

Changes in Accounting Policies

Except as described below under Recently Adopted Accounting Pronouncements, there have been no significant changes in our accounting policies from those disclosed in our annual consolidated financial statements and the related notes included in our Annual Report.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Assets and liabilities which are subject to judgment and use of estimates include the fair value of assets and liabilities assumed in business combinations, fair value of financial instruments, capitalized software costs, period of benefit associated with deferred costs, incremental borrowing rate used to measure operating lease liabilities, the recoverability of goodwill and long-lived assets, income taxes, useful lives associated with property and equipment and intangible assets, contingencies, and valuation and assumptions underlying stock-based compensation and other equity instruments.

In December 2019, a novel coronavirus disease ("COVID-19") was reported and has spread globally, including to every state in the United States. On March 11, 2020, the World Health Organization declared COVID-19 a pandemic, and on March 13, 2020, the United States government declared a national emergency with respect to COVID-19. COVID-19 has created and may continue to create significant uncertainty in global financial markets, which may reduce demand for our core solutions and/or Value+ services, impact the productivity of our workforce, reduce our access to capital, and harm our business and results of operations.

In light of the currently unknown ultimate duration and severity of COVID-19, we face a greater degree of uncertainty than normal in making the judgments and estimates needed to apply our significant accounting policies. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts COVID-19 as of March 31, 2020 and through the date of this report. The accounting matters assessed included, but were not limited to, the Company’s allowance for doubtful accounts and credit losses, the carrying value of the goodwill and other long-lived assets, incentive-based compensation and income taxes.

As of the date of our Condensed Consolidated Financial Statements, we are not aware of any specific event or circumstance that would require us to update our estimates or judgments or to revise the carrying value of our assets or liabilities. However, these estimates and judgments may change as new events occur and additional information is obtained, which may result in changes being recognized in our consolidated financial statements in future periods. While we considered the effects of COVID-19 in our estimates and assumptions, due to the current level of uncertainty over the economic and operational impacts of COVID-19 on our business, there may be other judgments and assumptions that were not currently considered. Such judgments and assumptions could result in a meaningful impact on our financial statements in future periods. Actual results could differ from those estimates and any such differences may have a material impact on our financial statements.

Net Income per Common Share

Net income per common share was the same for shares of our Class A and Class B common stock because they are entitled to the same liquidation and dividend rights and are therefore combined in the table below. The following table presents a reconciliation of the weighted average number of shares of our Class A and Class B common stock used to compute net income per common share (in thousands):



	Three Months Ended March 31,
	2020	2019
Weighted average common shares outstanding	34,180	33,918
Less: Weighted average unvested restricted shares subject to repurchase	5	5
Weighted average common shares outstanding; basic	34,175	33,913
Plus: Weighted average options, restricted stock units and restricted shares used to compute diluted net income per common share	1,506	1,429
Weighted average common shares outstanding; diluted	35,681	35,342

For the three months ended March 31, 2020 and 2019, an aggregate of 135,000 and 362,000 shares, respectively, underlying performance-based stock options ("PSOs") and performance-based restricted stock units ("PSUs"), were not included in the computations of diluted and anti-dilutive shares as they are considered contingently issuable upon the satisfaction of pre-defined performance measures and their respective performance measures have not been met.

Restricted stock units ("RSUs") with anti-dilutive effect were excluded from the calculation of weighted average number of shares used to compute diluted net income per common share and they were not material for the three months ended March 31, 2020 and 2019.

Recently Adopted Accounting Pronouncements

In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the current accounting guidance and requires the measurement of all expected losses based on historical experience, current conditions and reasonable and supportable forecasts. This guidance amends the accounting for credit losses for available-for-sale investment securities and purchased financial assets with credit deterioration. The adoption of this guidance did not have a material impact on our financial condition, results of operations, cash flows or disclosures.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, a series of amendments which align the requirements for capitalizing implementation costs incurred in a hosting arrangement that

is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by these amendments. The adoption of this guidance did not have a material impact on our financial condition, results of operations, cash flows or disclosures.

Recent Accounting Pronouncements Not Yet Adopted

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). This amendment was issued to simplify the accounting for income taxes by removing certain exceptions for recognizing deferred taxes, performing intraperiod allocation, and calculating income taxes in interim periods. Further, ASU 2019-12 adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax basis goodwill and allocating taxes to members of a consolidated group. ASU 2019-12 is effective for public business entities for fiscal years, and interim periods within those years, beginning after December 15, 2020. We do not expect the adoption of this guidance to have a material impact on our financial condition, results of operations, cash flows or disclosures.

In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference rate Reform on Financial Reporting. This guidance is intended to provide temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. This guidance is effective beginning March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. We are currently evaluating the effect of the adoption of this guidance on our financial condition, results of operations, cash flows and disclosures.

Business Combinations

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Business Combinations

Acquisition of Dynasty

On January 7, 2019, we acquired 100% of the voting equity interest of Dynasty Marketplace, Inc. ("Dynasty") for $60.2 million. Dynasty is a provider of advanced AI solutions for the real estate market that automate leasing communications, replace manual tasks and help customers grow their portfolios.

The transaction was accounted for using the acquisition method and, as a result, assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. Determining the fair value of assets acquired and liabilities assumed requires management to make significant judgments and estimates, including the selection of valuation methodologies and comparable companies, estimates of future revenue and cash flows, discount rates, and the software decay rate and database ramp up rate. The following table summarizes the final purchase price allocation (in thousands), as well as the estimated useful lives of the acquired intangible assets over which they are amortized on a straight-line basis, as this approximates the pattern in which economic benefits will be consumed:



	Amount (in thousands)		Estimated Useful Life (in years)
Total current assets	$	305
Identified intangible assets:
Technology	5,730		4.0
Database	4,710		10.0
Customer relationships	1,110		5.0
Backlog	470		1.0
Trademark & trade name	1,390		10.0
Non-compete agreement	7,340		5.0
Total intangible assets subject to amortization	20,750		6.0
Goodwill	42,877		Indefinite
Other noncurrent assets	35
Total assets acquired	63,967

Accrued and other liabilities	48
Deferred tax liability, net	3,711
Total liabilities assumed	3,759
Purchase consideration	$	60,208

Goodwill is mainly attributable to synergies expected from the acquisition and assembled workforce and is non-deductible for U.S. federal income tax purposes.

We incurred a total of $291,000 in transaction costs related to the acquisition and expensed all transaction costs incurred during the period in which such service was received.

Pro Forma Results

The following unaudited pro forma information has been prepared for illustrative purposes only, and assumes that the aforementioned Dynasty acquisition occurred on January 1, 2018, and includes pro forma adjustments related to the amortization of acquired intangible assets, elimination of historical interest and amortization expense, income taxes, compensation arrangements, and the transaction costs incurred. The unaudited pro forma results have been prepared based on estimates and assumptions, which we believe are reasonable; however, they are not necessarily indicative of the consolidated results of operations had the acquisitions occurred at the beginning of the periods presented, or of future results of operations. The unaudited pro forma results are as follows (in thousands):



	Three Months Ended March 31,
	2020		2019
Revenue	$	72,495	$	57,126
Net income (loss)	1,983		(546		)

Investment Securities and Fair Value Measurements

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Investment Securities and Fair Value Measurements

Investment Securities

Investment securities classified as available-for-sale consisted of the following at March 31, 2020 and December 31, 2019 (in thousands):



	March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Corporate bonds	$	1,597	$	2	$	—	$	1,599
Agency securities	2,649		40		—		2,689
Treasury securities	10,205		135		—		10,340
Total available-for-sale investment securities	$	14,451	$	177	$	—	$	14,628



	December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Corporate bonds	$	9,597	$	18	$	(1	)	$	9,614
Agency securities	11,101		17		—			11,118
Treasury securities	14,222		12		(1		)	14,233
Total available-for-sale investment securities	$	34,920	$	47	$	(2	)	$	34,965

For available-for-sale debt securities in an unrealized loss position, we first assess whether we intend to sell, or whether it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If either of these criteria is met, the security’s amortized cost basis is written down to fair value through income. For securities in an unrealized loss position that do not meet these criteria, we evaluate whether the decline in fair value has resulted from credit loss or other factors. If this assessment indicates a credit loss exists, the credit-related portion of the loss is recorded as an allowance for losses on the security. No allowance for credit losses for available-for-sale investment securities was recorded as of March 31, 2020.

At March 31, 2020 and December 31, 2019, the contractual maturities of our investments did not exceed 36 months. The fair values of available-for-sale investment securities, by remaining contractual maturity, are as follows (in thousands):



	March 31, 2020				December 31, 2019
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	7,897	$	7,952	$	22,846	$	22,876
Due after one year through three years	6,554		6,676		12,074		12,089
Total available-for-sale investment securities	$	14,451	$	14,628	$	34,920	$	34,965

During the three months ended March 31, 2020 and 2019, we had sales and maturities (which include calls) of investment securities, as follows (in thousands):



	Three Months Ended March 31, 2020
	Gross Realized Gains		Gross Realized Losses		Gross Proceeds from Sales		Gross Proceeds from Maturities
Corporate bonds	$	5	$	—	$	4,006	$	4,000
Agency securities	24		—		7,878		1,250
Treasury securities	4		—		2,058		2,000
Total	$	33	$	—	$	13,942	$	7,250



	Three Months Ended March 31, 2019
	Gross Realized Gains		Gross Realized Losses			Gross Proceeds from Sales		Gross Proceeds from Maturities
Corporate bonds	$	—	$	(1	)	$	1,750	$	2,250

Interest income, net of the amortization and accretion of the premium and discount, was $0.1 million and $0.2 million for the three months ended March 31, 2020 and 2019, respectively.

Fair Value Measurements

Recurring Fair Value Measurements

Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following tables summarize our financial assets measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 by level within the fair value hierarchy (in thousands):



	March 31, 2020
	Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
Money market funds	$	28,548	$	—	$	—	$	28,548
Available-for-sale investment securities:
Corporate bonds	—		1,599		—		1,599
Agency securities	—		2,689		—		2,689
Treasury securities	10,340		—		—		10,340
Total	$	38,888	$	4,288	$	—	$	43,176



	December 31, 2019
	Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
Money market funds	$	337	$	—	$	—	$	337
Available-for-sale investment securities:
Corporate bonds	—		9,614		—		9,614
Agency securities	—		11,118		—		11,118
Treasury securities	14,233		—		—		14,233
Total	$	14,570	$	20,732	$	—	$	35,302

The carrying amounts of cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate fair value because of the short maturity of these items.

The estimated fair value of the $50.0 million term loan issued by Wells Fargo Bank, National Association ("Wells Fargo"), as administrative agent, and the lenders that are parties thereto ("Term Loan") and the $50.0 million revolving credit facility made available to us by Wells Fargo and the lenders that are parties thereto ("Revolving Facility," and together with the Term Loan, the "Credit Facility"), approximate their carrying values due to the variable interest rates. We consider the fair value of the Term Loan and the Revolving Facility to be Level 2 measurements as these debt instruments are not actively traded. We carry the Term Loan at face value less the unamortized discount. Refer to Note 8, Long-Term Debt, of our Condensed Consolidated Financial Statements for more information about our Term Loan and Revolving Facility.

There were no changes to our valuation techniques used to measure financial asset and financial liability fair values on a recurring basis during the three months ended March 31, 2020. The valuation techniques for the financial assets in the tables above are as follows:

Cash Equivalents

As of March 31, 2020 and December 31, 2019, cash equivalents include cash invested in money market funds with a maturity of three months or less. Fair value is based on market prices for identical assets.

Available-for-Sale Investment Securities

Our Level 2 securities were priced by a pricing vendor. The pricing vendor utilizes the most recent observable market information in pricing these securities or, if specific prices are not available for these securities, other observable inputs like market transactions involving comparable securities are used.

Non-Recurring Fair Value Measurements

Certain assets, including goodwill, intangible assets and our note receivable with SecureDocs, Inc., are also subject to measurement at fair value on a non-recurring basis using Level 3 measurement, but only when they are deemed to be impaired. For the three months ended March 31, 2020 and 2019, no impairments were identified on those assets required to be measured at fair value on a non-recurring basis.

Internal-Use Software Development Costs

3 Months Ended

Mar. 31, 2020

Research and Development [Abstract]

Internal-Use Software Development Costs

Internal-use software development costs as of March 31, 2020 and December 31, 2019 were as follows (in thousands):



	March 31, 2020			December 31, 2019
Internal use software development costs, gross	$	88,204		$	81,475
Less: Accumulated amortization	(55,617		)	(51,452		)
Internal use software development costs, net	$	32,587		$	30,023

Capitalized software development costs were $6.7 million and $5.0 million for the three months ended March 31, 2020 and 2019, respectively. Amortization expense with respect to software development costs totaled $4.2 million and $3.0 million for the three months ended March 31, 2020 and 2019, respectively.

Future amortization expense with respect to capitalized software development costs as of March 31, 2020 is estimated as follows (in thousands):



Years Ending December 31,
2020	$	12,283
2021	12,980
2022	6,935
2023	389
Total amortization expense	$	32,587

Intangible Assets

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands, except years):



	March 31, 2020
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life in Years
Customer relationships	$	3,070	$	(1,438	)	$	1,632	5.0
Database	8,330		(1,162		)	7,168		10.0
Technology	10,541		(6,466		)	4,075		5.0
Trademarks and trade names	2,690		(1,036		)	1,654		6.0
Partner relationships	680		(680		)	—		3.0
Non-compete agreements	7,400		(1,854		)	5,546		5.0
Domain names	301		(277		)	24		5.0
Patents	252		(230		)	22		5.0
	$	33,264	$	(13,143	)	$	20,121	6.6



	December 31, 2019
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life in Years
Customer relationships	$	3,070	$	(1,296	)	$	1,774	5.0
Database	8,330		(954		)	7,376		10.0
Technology	10,541		(6,074		)	4,467		5.0
Trademarks & trade names	2,690		(898		)	1,792		6.0
Partner relationships	680		(680		)	—		3.0
Non-compete agreements	7,400		(1,484		)	5,916		5.0
Domain names	301		(276		)	25		5.0
Patents	252		(225		)	27		5.0
Backlog	470		(470		)	—		1.0
	$	33,734	$	(12,357	)	$	21,377	6.2

Amortization expense with respect to intangible assets totaled $1.3 million and $1.4 million for the three months ended March 31, 2020 and 2019, respectively. Future amortization expense with respect to intangible assets is estimated as follows (in thousands):



Years Ending December 31,
2020	$	3,623
2021	4,727
2022	4,665
2023	3,060
2024	1,197
Thereafter	2,849
Total amortization expense	$	20,121

Leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

We have operating leases for our corporate offices and data centers. Our leases have remaining lease terms ranging from one to twelve years, some of which include options to extend the leases by up to 10 years. These options to extend have not been recognized as part of our operating lease right-of-use assets and lease liabilities as it is not reasonably certain that we will exercise

these options. Our lease agreements do not contain any residual value guarantees or material restrictive covenants. We have lease agreements with lease and non-lease components, which we have elected to combine for all asset classes. The total lease cost associated with our operating leases for the three months ended March 31, 2020 and 2019 was $1.4 million and $1.2 million, respectively.

Lease-related assets and liabilities were as follows at March 31, 2020 and December 31, 2019 (in thousands):



	March 31, 2020		December 31, 2019
Assets
Prepaid expenses and other current assets	$	3,118	$	3,908
Operating lease right-of-use assets	26,750		27,803

Liabilities
Other current liabilities	$	2,779	$	2,826
Operating lease liabilities	34,143		33,312
Total lease liabilities	$	36,922	$	36,138

Future minimum lease payments under non-cancellable leases as of March 31, 2020 were as follows (in thousands):



Years ending December 31,
2020⁽¹⁾	$	1,663
2021⁽¹⁾	2,383
2022	4,085
2023	3,977
2024	3,908
Thereafter	29,590
Total future minimum lease payments	45,606
Less: imputed interest	(11,802		)
Total⁽²⁾	$	33,804

⁽¹⁾Future minimum lease payments are presented net of tenant improvement allowances of $2.8 million and $2.3 million, respectively.

⁽²⁾Total future minimum lease payments include the current portion of lease liabilities recorded in Prepaid expenses and other current assets of $3.1 million which relates to certain of our leases for which the lease incentives to be received exceed the minimum lease payments to be paid over the next twelve months.

Long-Term Debt

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Debt

Credit Agreement

On December 24, 2018, we entered into Amendment Number Two to the Credit Agreement (the "Second Amendment") with Wells Fargo, as administrative agent, and the lenders that are parties thereto (as amended, the "Credit Agreement"). Under the terms of the Second Amendment, the lenders issued the Term Loan to us and increased the amount available under the Revolving Facility to $50.0 million. The maturity date of the Term Loan and Revolving Facility is December 24, 2023. In addition, pursuant to the Second Amendment, we are permitted to make certain restricted junior payments, including, without limitation, repurchases of our common stock, and to enter into acquisitions with no value limitation on such acquisitions, so long as we maintain specified liquidity requirements and maintain specified leverage ratios.

The Second Amendment also modified certain financial covenants by, among other things, requiring us to maintain (i) an EBITDA to interest expense ratio of not less than 3.0 to 1.0, and (ii) a funded indebtedness to EBITDA ratio of not more than 3.5 to 1.0 (the "Required Leverage Ratio") (decreasing by 0.25 per year until the Required Leverage Ratio is 2.5 to 1.0); provided, however, that we are not required to maintain the foregoing ratios if our liquidity (defined as the sum of the remaining borrowing capacity under the Credit Agreement and available cash) has equaled or exceeded the greater of $20.0 million and 20% of the sum of the outstanding principal amount of the Term Loan and commitments under the Revolving Facility. If we enter into an Acquisition

with a purchase price greater than or equal to $20.0 million, then the Required Leverage Ratio will be increased by 0.5 for the 12-month period immediately following the consummation of such Acquisition.

The Credit Agreement contains customary affirmative, negative and financial covenants. The affirmative covenants require us to, among other things, disclose financial and other information to the lenders, maintain our business and properties, and maintain adequate insurance. The negative covenants restrict us from, among other things, incurring additional indebtedness, prepaying certain types of indebtedness, encumbering or disposing of our assets, making fundamental changes to our corporate structure, and making certain dividends and distributions. At March 31, 2020, we were in compliance with the financial covenants under the Credit Agreement.

Under the terms of the Second Amendment, borrowings under the Credit Agreement will bear interest at a fluctuating rate per annum equal to, at our option, (i) the adjusted LIBOR or (ii) an alternate base rate, in each case plus the applicable interest rate margin. Borrowings will fluctuate between adjusted LIBOR plus 1.5% per annum and adjusted LIBOR plus 2.0% per annum (or between the alternate base rate plus 0.5% per annum and the alternate base rate plus 1.0% per annum), based upon our leverage ratio.

Fees payable on the unused portion of the Revolving Facility will be 25 basis points per annum, unless the average usage of the Revolving Facility is equal to or less than $30.0 million for the applicable period, in which case the fees on the unused portion of the Revolving Facility will be 375 basis points per annum.

As of March 31, 2020 and December 31, 2019 we had $1.0 million and $50.0 million, respectively, of available credit under our Revolving Facility. Outstanding borrowings under the Revolving Facility were $49.0 million at March 31, 2020 and there were no outstanding borrowings under the Revolving Facility at December 31, 2019.

Debt Financing Costs

As a result of the Second Amendment, we incurred $0.4 million in financing fees that were capitalized and will be amortized over the remaining life of the related debt, $0.2 million of which was related to the Term Loan and $0.2 million of which was related to the Revolving Facility. Pursuant to GAAP, the Second Amendment is accounted for as a debt modification. As a result, the unamortized deferred debt financing costs related to the Revolving Facility prior to the Second Amendment were added to the $0.2 million of deferred debt financing costs related to the Second Amendment and will be amortized over the remaining life of the Revolving Facility.

Debt financing costs are deferred and amortized, using the straight-line method, which approximates the effective interest method, for costs related to the Term Loan and the straight-line method for costs related to the Revolving Facility over the term of the debt arrangement; such amortization is included in interest expense in our Condensed Consolidated Statements of Operations. Amortization of deferred debt financing costs was not material for the three months ended March 31, 2020 or 2019. At March 31, 2020 and December 31, 2019, the remaining unamortized deferred debt financing costs were $0.4 million, of which $0.2 million was offset against debt. At March 31, 2020 and December 31, 2019, $0.2 million and $0.3 million, respectively, of the remaining unamortized deferred debt financing costs were recorded in Prepaid expenses and other current assets and other assets on our Condensed Consolidated Balance Sheets, as they pertained to the Revolving Facility.

The following is a summary of our long-term debt at March 31, 2020 (in thousands):



	March 31, 2020			December 31, 2019
Principal amounts due under Term Loan	$	48,438		$	48,750
Unamortized debt financing costs	(158		)	(167		)
Long-term debt, net of unamortized debt financing costs	$	48,280		$	48,583

Scheduled principal payments for the Term Loan at March 31, 2020 are as follows (in thousands):



Years Ending December 31,
2020	$	938
2021	2,500
2022	2,500
2023	42,500
Total principal payments	$	48,438

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Liability to Landlord Insurance We have a wholly owned subsidiary, Terra Mar Insurance Company, Inc., which was established to provide our customers with the option to purchase legal liability to landlord insurance. If our customers choose to use this insurance service, they are issued an insurance policy underwritten by our third-party service provider. The policy has a limit of $100,000 per incident for each insured residence. We have entered into a reinsurance agreement with our third-party service provider and, as a result, we assume a 100% quota share of the legal liability to landlord insurance provided to our customers through our third-party service provider. We accrue for reported claims, and include an estimate of losses incurred but not reported by our property manager customers, in cost of revenue because we bear the risk related to all such claims. Our liability for reported claims and incurred but not reported claims as of March 31, 2020 and December 31, 2019 was $2.0 million and $1.8 million, respectively, and is included in other current liabilities on our Condensed Consolidated Balance Sheets. Included in prepaid expenses and other current assets as of March 31, 2020 and December 31, 2019, are $1.6 million and $1.3 million, respectively, of deposits held with a third party related to requirements to maintain collateral for this insurance service. Legal Proceedings In July 2019, we received a Request for Information from the Civil Rights Division (Housing and Civil Enforcement Section) of the U.S. Department of Justice ("DOJ") requesting certain information relating to our compliance with the Servicemembers Civil Relief Act in connection with our tenant screening Value+ service. We continue to fully cooperate with the DOJ, and do not presently have sufficient information to predict the outcome of, or any potential costs or penalties associated with, the DOJ investigation. In December 2018, we received a Civil Investigative Demand from the Federal Trade Commission ("FTC") requesting certain information relating to our compliance with the Fair Credit Reporting Act (the “FCRA”) in connection with our tenant screening Value+ service. On April 30, 2020, the FTC staff informed us of its belief that there is a reasonable basis for asserting claims against us for our alleged failure to comply with certain sections of the FCRA that could result in monetary penalty and/or injunctive relief. We disagree with the stated belief of the FTC and will vigorously defend our position. We expect to continue to have discussions with the FTC with the goal of quickly resolving the matter. We are unable to predict the outcome of, or any potential costs or penalties associated with this matter at this time, although it is possible any costs or penalties could be material. In addition, from time to time, we are involved in various other investigatory inquiries or legal proceedings arising from or related to matters incident to the ordinary course of our business activities, including actions with respect to intellectual property, employment, regulatory and contractual issues. Although the results of such investigatory inquiries and legal proceedings cannot be predicted with certainty, we believe that we are not currently a party to any investigatory inquiries or legal proceedings which, if determined adversely to us, would, individually or taken together, have a material adverse effect on our business, operating results, financial condition or cash flows. Indemnification In the ordinary course of business, we may provide indemnification of varying scope and terms to customers, vendors, investors, directors and officers with respect to certain matters, including, but not limited to, losses arising out of our breach of applicable agreements, services to be provided by us, or intellectual property infringement claims made by third parties. These indemnification provisions may survive termination of the underlying agreement and the maximum potential amount of future payments we could be required to make may not be subject to maximum loss clauses and may therefore be indeterminable. We have never paid a material claim, nor have any legal claims been brought against us in connection with these indemnification arrangements. As of March 31, 2020 and December 31, 2019, we had not accrued a liability for these indemnification obligations because we determined that the likelihood of incurring any payment obligation in connection with these indemnification arrangements is not probable or reasonably possible, and the amount or range of amounts of any such liability is not reasonably estimable.

Share Repurchase Program	3 Months Ended
Share Repurchase Program	Mar. 31, 2020
Equity [Abstract]
Share Repurchase Program	Share Repurchase Program On February 20, 2019, our Board of Directors authorized a $100.0 million share repurchase program (the "Program") relating to our outstanding shares of Class A common stock. Under the Program, share repurchases may be made from time to time, as directed by a Committee consisting of three Directors, in open market purchases or privately negotiated transactions at a repurchase price that the members of the Committee unanimously believe is below intrinsic value conservatively determined. The Program does not obligate us to repurchase any specific dollar amount or number of shares, there is no expiration date for the Program, and it may be modified, suspended or terminated at any time and for any reason. During the three months ended March 31, 2020, we repurchased a total of 48,002 shares of our Class A common stock through open market repurchases, and recorded a $4.2 million reduction to stockholders' equity, which includes broker commissions. We did not repurchase any shares of our Class A common stock under the Program during the three months ended March 31, 2019.

Stock-Based Compensation

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock Options

A summary of activity in connection with our stock options for the three months ended March 31, 2020, is as follows (number of shares in thousands):



	Number of Shares		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life in Years
Options outstanding at December 31, 2019	1,342		$	11.84	5.9
Options granted	—		—
Options exercised	(17	)	5.77
Options cancelled/forfeited	(55	)	23.80
Options outstanding at March 31, 2020	1,270		$	11.39	5.6

During the three months ended March 31, 2020, 77,000 PSOs vested based on the achievement of 95% of the pre-established free cash flow performance target for the year ended December 31, 2019 and 40,000 PSOs vested based on the achievement of 115% of the pre-established gross margin target for the year ended December 31, 2019.

Our stock-based compensation expense for stock options for the three months ended March 31, 2020 was not material and for the three months ended March 31, 2019 was $0.2 million. At March 31, 2020, the total estimated remaining stock-based compensation expense for unvested stock options was not material.

The fair value of stock options is estimated on their date of grant using the Black-Scholes option-pricing model. No stock options were granted during the three months ended March 31, 2020 or 2019.

Restricted Stock Units

A summary of activity in connection with our RSUs for the three months ended March 31, 2020, is as follows (number of shares in thousands):



	Number of Shares		Weighted Average Grant Date Fair Value per Share
Unvested at December 31, 2019	646		$	52.42
Granted	103		109.60
Vested	(146	)	21.92
Forfeited	(10	)	50.19
Unvested at March 31, 2020	593		$	69.93

During the three months ended March 31, 2020, we granted 100,000 RSUs that are subject to time-based vesting in equal annual installments over four years, and 3,000 PSUs that are subject to vesting based on the achievement of a pre-established consolidated net revenue growth target for the year ending December 31, 2022, assuming continued employment throughout the performance period. The number of PSUs granted, as included in the above table, assumes achievement of the performance metric at 100% of the performance target. The actual number of shares to be issued at the end of the performance period will range from 0% to 100% of the initial target awards. Achievement of the performance metric between 100% and 150% of the performance target will result in a performance based cash bonus payment between 100% and 165% of the initial target awards.

During the three months ended March 31, 2020, 84,000 PSUs vested and 4,000 PSUs were cancelled based on the achievement of 95% of the pre-established free cash flow performance target for the year ended December 31, 2019.

Included in the unvested RSUs as of March 31, 2020 are 37,000 and 95,000 PSUs granted in 2019 and 2018, respectively. Of these PSUs, 54,000 are subject to vesting based on the achievement of a pre-established consolidated net revenue growth target for the year ending December 31, 2020, 49,000 are subject to vesting based on the achievement of a pre-established consolidated net revenue growth target for the year ending December 31, 2021, and 29,000 are subject to vesting based on the achievement of a pre-established consolidated net revenue growth target for the year ending December 31, 2022. The number of PSUs granted assumes achievement of the performance metric at 100% of the performance target. The actual number of shares to be issued at the end of the performance period will range from 0% to 100% of the initial target awards. Achievement of the performance metric between 100% and 150% of the performance target will result in a performance based cash bonus payment between 100% and 165% of the initial target awards.

We recognize expense for the PSUs based on the grant date fair value of the PSUs that we determine are probable of vesting. Adjustments to compensation expense are made each period based on changes in our estimate of the number of PSUs that are probable of vesting. Our stock-based compensation expense for the RSUs and PSUs for the three months ended March 31, 2020 and 2019 was $1.2 million and $1.6 million, respectively.

As of March 31, 2020, the total estimated remaining stock-based compensation expense for the RSUs and PSUs was $26.1 million, which is expected to be recognized over a weighted average period of 2.5 years.

Restricted Stock Awards

A summary of activity in connection with our restricted stock awards for the three months ended March 31, 2020 is as follows (number of shares in thousands):



	Number of Shares	Weighted Average Grant Date Fair Value per Share
Unvested at December 31, 2019	5	$	105.88
Granted	—	—
Vested	—	—
Forfeited	—	—
Unvested at March 31, 2020	5	$	105.88

We have the right to repurchase any unvested restricted stock awards subject to certain conditions. Restricted stock awards vest over a one-year period. We recognized stock-based compensation expense for restricted stock awards of $0.1 million for each of the three months ended March 31, 2020 and 2019.

As of March 31, 2020, the total estimated remaining stock-based compensation expense for unvested restricted stock awards with a repurchase right was $0.2 million, which is expected to be recognized over a weighted average period of 0.5 years.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We calculate our provision for income taxes on a quarterly basis by applying an estimated annual effective tax rate to income from operations and by calculating the tax effect of discrete items recognized during the quarter. For the three months ended March 31, 2020, we recorded income tax expense of $0.4 million. The income tax expense recorded and the difference between the U.S. federal statutory rate of 21% was primarily due to the tax impact associated with stock-based compensation expense and research and development credits. For the three months ended March 31, 2019, we recorded an income tax benefit of $4.3 million. The tax benefit recorded is primarily due to changes in the deferred tax asset valuation allowance resulting from $4.1 million of deferred tax liabilities acquired through the Dynasty acquisition. The acquired deferred tax liabilities are expected to provide a source of income to support realizability of our existing deferred tax assets. There were no material changes to the Company’s unrecognized tax benefits during the three months ended March 31, 2020 and the Company does not expect to have any significant changes to unrecognized tax benefits through the end of the fiscal year.

Revenue and Other Information

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Revenue and Other Information

The following table presents our revenue categories for the three months ended March 31, 2020 and 2019 (in thousands):



	Three Months Ended March 31,
	2020		2019
Core solutions	$	24,902	$	20,822
Value+ services	44,138		33,698
Other	3,455		2,571
Total revenue	$	72,495	$	57,091

During the three months ended March 31, 2020 and 2019, we recognized $2.3 million and $1.7 million of revenue, respectively, that were included in the deferred revenue balances at December 31, 2019 and 2018, respectively.

Our revenue is generated primarily from customers in the United States. All of our property and equipment is located in the United States.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The accompanying unaudited Condensed Consolidated Financial Statements were prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these Condensed Consolidated Financial Statements should be read in conjunction with our audited consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 ("Annual Report"), filed with the Securities and Exchange Commission ("SEC") on March 2, 2020. The year-end condensed balance sheet was derived from our audited consolidated financial statements. Our unaudited interim Condensed Consolidated Financial Statements include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of our Condensed Consolidated Financial Statements.
Reclassifications	Reclassifications We reclassified certain amounts in our Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows within the cash from operating activities section in the prior year to conform to the current year's presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Assets and liabilities which are subject to judgment and use of estimates include the fair value of assets and liabilities assumed in business combinations, fair value of financial instruments, capitalized software costs, period of benefit associated with deferred costs, incremental borrowing rate used to measure operating lease liabilities, the recoverability of goodwill and long-lived assets, income taxes, useful lives associated with property and equipment and intangible assets, contingencies, and valuation and assumptions underlying stock-based compensation and other equity instruments. In December 2019, a novel coronavirus disease ("COVID-19") was reported and has spread globally, including to every state in the United States. On March 11, 2020, the World Health Organization declared COVID-19 a pandemic, and on March 13, 2020, the United States government declared a national emergency with respect to COVID-19. COVID-19 has created and may continue to create significant uncertainty in global financial markets, which may reduce demand for our core solutions and/or Value+ services, impact the productivity of our workforce, reduce our access to capital, and harm our business and results of operations. In light of the currently unknown ultimate duration and severity of COVID-19, we face a greater degree of uncertainty than normal in making the judgments and estimates needed to apply our significant accounting policies. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts COVID-19 as of March 31, 2020 and through the date of this report. The accounting matters assessed included, but were not limited to, the Company’s allowance for doubtful accounts and credit losses, the carrying value of the goodwill and other long-lived assets, incentive-based compensation and income taxes. As of the date of our Condensed Consolidated Financial Statements, we are not aware of any specific event or circumstance that would require us to update our estimates or judgments or to revise the carrying value of our assets or liabilities. However, these estimates and judgments may change as new events occur and additional information is obtained, which may result in changes being recognized in our consolidated financial statements in future periods. While we considered the effects of COVID-19 in our estimates and assumptions, due to the current level of uncertainty over the economic and operational impacts of COVID-19 on our business, there may be other judgments and assumptions that were not currently considered. Such judgments and assumptions could result in a meaningful impact on our financial statements in future periods. Actual results could differ from those estimates and any such differences may have a material impact on our financial statements.
Net Income per Common Share	Net Income per Common Share Net income per common share was the same for shares of our Class A and Class B common stock because they are entitled to the same liquidation and dividend rights and are therefore combined in the table below.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which amends the current accounting guidance and requires the measurement of all expected losses based on historical experience, current conditions and reasonable and supportable forecasts. This guidance amends the accounting for credit losses for available-for-sale investment securities and purchased financial assets with credit deterioration. The adoption of this guidance did not have a material impact on our financial condition, results of operations, cash flows or disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, a series of amendments which align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by these amendments. The adoption of this guidance did not have a material impact on our financial condition, results of operations, cash flows or disclosures. Recent Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"). This amendment was issued to simplify the accounting for income taxes by removing certain exceptions for recognizing deferred taxes, performing intraperiod allocation, and calculating income taxes in interim periods. Further, ASU 2019-12 adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax basis goodwill and allocating taxes to members of a consolidated group. ASU 2019-12 is effective for public business entities for fiscal years, and interim periods within those years, beginning after December 15, 2020. We do not expect the adoption of this guidance to have a material impact on our financial condition, results of operations, cash flows or disclosures. In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference rate Reform on Financial Reporting. This guidance is intended to provide temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. This guidance is effective beginning March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. We are currently evaluating the effect of the adoption of this guidance on our financial condition, results of operations, cash flows and disclosures.

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Schedule of Weighted Average Number of Shares

The following table presents a reconciliation of the weighted average number of shares of our Class A and Class B common stock used to compute net income per common share (in thousands):



	Three Months Ended March 31,
	2020	2019
Weighted average common shares outstanding	34,180	33,918
Less: Weighted average unvested restricted shares subject to repurchase	5	5
Weighted average common shares outstanding; basic	34,175	33,913
Plus: Weighted average options, restricted stock units and restricted shares used to compute diluted net income per common share	1,506	1,429
Weighted average common shares outstanding; diluted	35,681	35,342

Business Combinations (Tables)

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Schedule of Purchase Price Allocation

The following table summarizes the final purchase price allocation (in thousands), as well as the estimated useful lives of the acquired intangible assets over which they are amortized on a straight-line basis, as this approximates the pattern in which economic benefits will be consumed:



	Amount (in thousands)		Estimated Useful Life (in years)
Total current assets	$	305
Identified intangible assets:
Technology	5,730		4.0
Database	4,710		10.0
Customer relationships	1,110		5.0
Backlog	470		1.0
Trademark & trade name	1,390		10.0
Non-compete agreement	7,340		5.0
Total intangible assets subject to amortization	20,750		6.0
Goodwill	42,877		Indefinite
Other noncurrent assets	35
Total assets acquired	63,967

Accrued and other liabilities	48
Deferred tax liability, net	3,711
Total liabilities assumed	3,759
Purchase consideration	$	60,208

Schedule of Pro Forma Information

The unaudited pro forma results are as follows (in thousands):



	Three Months Ended March 31,
	2020		2019
Revenue	$	72,495	$	57,126
Net income (loss)	1,983		(546		)

Investment Securities and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Available-for-sale Securities

Investment securities classified as available-for-sale consisted of the following at March 31, 2020 and December 31, 2019 (in thousands):



	March 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Corporate bonds	$	1,597	$	2	$	—	$	1,599
Agency securities	2,649		40		—		2,689
Treasury securities	10,205		135		—		10,340
Total available-for-sale investment securities	$	14,451	$	177	$	—	$	14,628



	December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Corporate bonds	$	9,597	$	18	$	(1	)	$	9,614
Agency securities	11,101		17		—			11,118
Treasury securities	14,222		12		(1		)	14,233
Total available-for-sale investment securities	$	34,920	$	47	$	(2	)	$	34,965

Available-for-sale Investments, by Remaining Contract Maturity

The fair values of available-for-sale investment securities, by remaining contractual maturity, are as follows (in thousands):



	March 31, 2020				December 31, 2019
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	7,897	$	7,952	$	22,846	$	22,876
Due after one year through three years	6,554		6,676		12,074		12,089
Total available-for-sale investment securities	$	14,451	$	14,628	$	34,920	$	34,965

Schedule of Sales, Calls, and Maturities

During the three months ended March 31, 2020 and 2019, we had sales and maturities (which include calls) of investment securities, as follows (in thousands):



	Three Months Ended March 31, 2020
	Gross Realized Gains		Gross Realized Losses		Gross Proceeds from Sales		Gross Proceeds from Maturities
Corporate bonds	$	5	$	—	$	4,006	$	4,000
Agency securities	24		—		7,878		1,250
Treasury securities	4		—		2,058		2,000
Total	$	33	$	—	$	13,942	$	7,250



	Three Months Ended March 31, 2019
	Gross Realized Gains		Gross Realized Losses			Gross Proceeds from Sales		Gross Proceeds from Maturities
Corporate bonds	$	—	$	(1	)	$	1,750	$	2,250

Fair Value, Assets Measured on Recurring Basis

The following tables summarize our financial assets measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 by level within the fair value hierarchy (in thousands):



	March 31, 2020
	Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
Money market funds	$	28,548	$	—	$	—	$	28,548
Available-for-sale investment securities:
Corporate bonds	—		1,599		—		1,599
Agency securities	—		2,689		—		2,689
Treasury securities	10,340		—		—		10,340
Total	$	38,888	$	4,288	$	—	$	43,176



	December 31, 2019
	Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
Money market funds	$	337	$	—	$	—	$	337
Available-for-sale investment securities:
Corporate bonds	—		9,614		—		9,614
Agency securities	—		11,118		—		11,118
Treasury securities	14,233		—		—		14,233
Total	$	14,570	$	20,732	$	—	$	35,302

Internal-Use Software Development Costs (Tables)

3 Months Ended

Mar. 31, 2020

Research and Development [Abstract]

Schedule of Capitalized Computer Software

Internal-use software development costs as of March 31, 2020 and December 31, 2019 were as follows (in thousands):



	March 31, 2020			December 31, 2019
Internal use software development costs, gross	$	88,204		$	81,475
Less: Accumulated amortization	(55,617		)	(51,452		)
Internal use software development costs, net	$	32,587		$	30,023

Schedule of Capitalized Computer Software Future Amortization Expense

Future amortization expense with respect to capitalized software development costs as of March 31, 2020 is estimated as follows (in thousands):



Years Ending December 31,
2020	$	12,283
2021	12,980
2022	6,935
2023	389
Total amortization expense	$	32,587

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

Intangible assets consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands, except years):



	March 31, 2020
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life in Years
Customer relationships	$	3,070	$	(1,438	)	$	1,632	5.0
Database	8,330		(1,162		)	7,168		10.0
Technology	10,541		(6,466		)	4,075		5.0
Trademarks and trade names	2,690		(1,036		)	1,654		6.0
Partner relationships	680		(680		)	—		3.0
Non-compete agreements	7,400		(1,854		)	5,546		5.0
Domain names	301		(277		)	24		5.0
Patents	252		(230		)	22		5.0
	$	33,264	$	(13,143	)	$	20,121	6.6



	December 31, 2019
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life in Years
Customer relationships	$	3,070	$	(1,296	)	$	1,774	5.0
Database	8,330		(954		)	7,376		10.0
Technology	10,541		(6,074		)	4,467		5.0
Trademarks & trade names	2,690		(898		)	1,792		6.0
Partner relationships	680		(680		)	—		3.0
Non-compete agreements	7,400		(1,484		)	5,916		5.0
Domain names	301		(276		)	25		5.0
Patents	252		(225		)	27		5.0
Backlog	470		(470		)	—		1.0
	$	33,734	$	(12,357	)	$	21,377	6.2

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Future amortization expense with respect to intangible assets is estimated as follows (in thousands):



Years Ending December 31,
2020	$	3,623
2021	4,727
2022	4,665
2023	3,060
2024	1,197
Thereafter	2,849
Total amortization expense	$	20,121

Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Schedule of Components of Lease Expense

Lease-related assets and liabilities were as follows at March 31, 2020 and December 31, 2019 (in thousands):



	March 31, 2020		December 31, 2019
Assets
Prepaid expenses and other current assets	$	3,118	$	3,908
Operating lease right-of-use assets	26,750		27,803

Liabilities
Other current liabilities	$	2,779	$	2,826
Operating lease liabilities	34,143		33,312
Total lease liabilities	$	36,922	$	36,138

Schedule of Minimum Lease Payments Under Leases

Future minimum lease payments under non-cancellable leases as of March 31, 2020 were as follows (in thousands):



Years ending December 31,
2020⁽¹⁾	$	1,663
2021⁽¹⁾	2,383
2022	4,085
2023	3,977
2024	3,908
Thereafter	29,590
Total future minimum lease payments	45,606
Less: imputed interest	(11,802		)
Total⁽²⁾	$	33,804

⁽¹⁾Future minimum lease payments are presented net of tenant improvement allowances of $2.8 million and $2.3 million, respectively.

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Summary of Long-term Debt

The following is a summary of our long-term debt at March 31, 2020 (in thousands):



	March 31, 2020			December 31, 2019
Principal amounts due under Term Loan	$	48,438		$	48,750
Unamortized debt financing costs	(158		)	(167		)
Long-term debt, net of unamortized debt financing costs	$	48,280		$	48,583

Schedule of Principal payments for Term Loan

Scheduled principal payments for the Term Loan at March 31, 2020 are as follows (in thousands):



Years Ending December 31,
2020	$	938
2021	2,500
2022	2,500
2023	42,500
Total principal payments	$	48,438

- 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 http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of activity in connection with our stock options for the three months ended March 31, 2020, is as follows (number of shares in thousands):



	Number of Shares		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life in Years
Options outstanding at December 31, 2019	1,342		$	11.84	5.9
Options granted	—		—
Options exercised	(17	)	5.77
Options cancelled/forfeited	(55	)	23.80
Options outstanding at March 31, 2020	1,270		$	11.39	5.6

Schedule of Restricted Stock Units Activity

A summary of activity in connection with our RSUs for the three months ended March 31, 2020, is as follows (number of shares in thousands):



	Number of Shares		Weighted Average Grant Date Fair Value per Share
Unvested at December 31, 2019	646		$	52.42
Granted	103		109.60
Vested	(146	)	21.92
Forfeited	(10	)	50.19
Unvested at March 31, 2020	593		$	69.93

Schedule of Restricted Stock Awards Activity

A summary of activity in connection with our restricted stock awards for the three months ended March 31, 2020 is as follows (number of shares in thousands):



	Number of Shares	Weighted Average Grant Date Fair Value per Share
Unvested at December 31, 2019	5	$	105.88
Granted	—	—
Vested	—	—
Forfeited	—	—
Unvested at March 31, 2020	5	$	105.88

Revenue and Other Information (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Schedule of Product Information by Revenue Categories

The following table presents our revenue categories for the three months ended March 31, 2020 and 2019 (in thousands):



	Three Months Ended March 31,
	2020		2019
Core solutions	$	24,902	$	20,822
Value+ services	44,138		33,698
Other	3,455		2,571
Total revenue	$	72,495	$	57,091

Summary of Significant Accounting Policies - Net Income per Share Schedule of Weighted Average Number of Shares (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares outstanding (in shares)	34,180	33,918
Less: Weighted average unvested restricted shares subject to repurchase (in shares)	5	5
Weighted average common shares outstanding; basic (in shares)	34,175	33,913
Plus: Weighted average options, restricted stock units and restricted shares used to compute diluted net income per common share (in shares)	1,506	1,429
Weighted average common shares outstanding; diluted (in shares)	35,681	35,342
PSUs and PSOs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share computation (in shares)	135	362

Business Combinations - Narrative (Details) - Dynasty $ in Thousands	Jan. 07, 2019 USD ($)
Business Acquisition [Line Items]
Percentage of voting equity interest	100.00%
Consideration transferred	$ 60,200
Transaction costs	$ 291

Business Combinations - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Jan. 07, 2019	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 58,425	$ 58,425
Deferred tax liability, net		$ 4,100
Dynasty
Business Acquisition [Line Items]
Total current assets	$ 305
Total intangible assets subject to amortization	20,750
Goodwill	42,877
Other noncurrent assets	35
Total assets acquired	$ 63,967
Estimated Useful Life (in years)	6 years
Accrued and other liabilities	$ 48
Deferred tax liability, net	3,711
Total liabilities assumed	3,759
Purchase consideration	60,208
Dynasty \| Technology
Business Acquisition [Line Items]
Total intangible assets subject to amortization	$ 5,730
Estimated Useful Life (in years)	4 years
Dynasty \| Database
Business Acquisition [Line Items]
Total intangible assets subject to amortization	$ 4,710
Estimated Useful Life (in years)	10 years
Dynasty \| Customer relationships
Business Acquisition [Line Items]
Total intangible assets subject to amortization	$ 1,110
Estimated Useful Life (in years)	5 years
Dynasty \| Backlog
Business Acquisition [Line Items]
Total intangible assets subject to amortization	$ 470
Estimated Useful Life (in years)	1 year
Dynasty \| Trademark and trade name
Business Acquisition [Line Items]
Total intangible assets subject to amortization	$ 1,390
Estimated Useful Life (in years)	10 years
Dynasty \| Non-compete agreement
Business Acquisition [Line Items]
Total intangible assets subject to amortization	$ 7,340
Estimated Useful Life (in years)	5 years

Business Combinations - Pro Forma Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Business Combinations [Abstract]
Revenue	$ 72,495	$ 57,126
Net income (loss)	$ 1,983	$ (546)

Investment Securities and Fair Value Measurements - Schedule of Available-for-sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Total available-for-sale investment securities	$ 14,451	$ 34,920
Gross Unrealized Gains	177	47
Gross Unrealized Losses	0	(2)
Estimated Fair Value	$ 14,628	$ 34,965
Maximum contractual maturity period	36 months	36 months
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Total available-for-sale investment securities	$ 1,597	$ 9,597
Gross Unrealized Gains	2	18
Gross Unrealized Losses	0	(1)
Estimated Fair Value	1,599	9,614
Agency securities
Debt Securities, Available-for-sale [Line Items]
Total available-for-sale investment securities	2,649	11,101
Gross Unrealized Gains	40	17
Gross Unrealized Losses	0	0
Estimated Fair Value	2,689	11,118
Treasury securities
Debt Securities, Available-for-sale [Line Items]
Total available-for-sale investment securities	10,205	14,222
Gross Unrealized Gains	135	12
Gross Unrealized Losses	0	(1)
Estimated Fair Value	$ 10,340	$ 14,233

Investment Securities and Fair Value Measurements - Available-for-sale Investments, by Remaining Contract Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Amortized Cost
Due in 1 year or less	$ 7,897	$ 22,846
Due after 1 year through 3 years	6,554	12,074
Total available-for-sale investment securities	14,451	34,920
Estimated Fair Value
Due in one year or less	7,952	22,876
Due after one year through three years	6,676	12,089
Total available-for-sale investment securities	$ 14,628	$ 34,965

Investment Securities and Fair Value Measurements - Schedule of Sales, Calls and Maturities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Gross Realized Gains	$ 33
Gross Realized Losses	0
Gross Proceeds from Sales	13,942	$ 1,750
Gross Proceeds from Maturities	7,250	2,250
Interest income, net of amortization and accretion of premium and discount	100	200
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Gross Realized Gains	5	0
Gross Realized Losses	0	(1)
Gross Proceeds from Sales	4,006	1,750
Gross Proceeds from Maturities	4,000	$ 2,250
Agency securities
Debt Securities, Available-for-sale [Line Items]
Gross Realized Gains	24
Gross Realized Losses	0
Gross Proceeds from Sales	7,878
Gross Proceeds from Maturities	1,250
Treasury securities
Debt Securities, Available-for-sale [Line Items]
Gross Realized Gains	4
Gross Realized Losses	0
Gross Proceeds from Sales	2,058
Gross Proceeds from Maturities	$ 2,000

Investment Securities and Fair Value Measurements - Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	$ 14,628	$ 34,965
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	1,599	9,614
Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	2,689	11,118
Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	10,340	14,233
Fair value, recurring measurements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities		14,233
Total	43,176	35,302
Fair value, recurring measurements \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	1,599	9,614
Fair value, recurring measurements \| Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	2,689	11,118
Fair value, recurring measurements \| Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	10,340
Fair value, recurring measurements \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	28,548	337
Fair value, recurring measurements \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities		14,233
Total	38,888	14,570
Fair value, recurring measurements \| Level 1 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	0	0
Fair value, recurring measurements \| Level 1 \| Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	0	0
Fair value, recurring measurements \| Level 1 \| Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	10,340
Fair value, recurring measurements \| Level 1 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	28,548	337
Fair value, recurring measurements \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities		0
Total	4,288	20,732
Fair value, recurring measurements \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	1,599	9,614
Fair value, recurring measurements \| Level 2 \| Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	2,689	11,118
Fair value, recurring measurements \| Level 2 \| Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	0
Fair value, recurring measurements \| Level 2 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Fair value, recurring measurements \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities		0
Total	0	0
Fair value, recurring measurements \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	0	0
Fair value, recurring measurements \| Level 3 \| Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	0	0
Fair value, recurring measurements \| Level 3 \| Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investment securities	0
Fair value, recurring measurements \| Level 3 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	$ 0
Term Loan \| Estimate of Fair Value Measurement \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of credit, amount outstanding	50,000
Revolving Credit Facility \| Credit Facility \| Estimate of Fair Value Measurement \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of credit, amount outstanding	$ 50,000

Internal-Use Software Development Costs - Capitalized Computer Software (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Research and Development [Abstract]
Internal use software development costs, gross	$ 88,204	$ 81,475
Less: Accumulated amortization	(55,617)	(51,452)
Internal use software development costs, net	$ 32,587	$ 30,023

Internal-Use Software Development Costs - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Research and Development [Abstract]
Capitalized software development costs	$ 6.7	$ 5.0
Amortization expense	$ 4.2	$ 3.0

Internal-Use Software Development Costs - Capitalized Computer Software Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Years Ending December 31,
2020	$ 12,283
2021	12,980
2022	6,935
2023	389
Internal use software development costs, net	$ 32,587	$ 30,023

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 33,264		$ 33,734
Accumulated Amortization	(13,143)		(12,357)
Net Carrying Value	20,121		$ 21,377
Amortization expense	$ 1,300	$ 1,400
Weighted Average Useful Life in Years
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	6 years 7 months 6 days		6 years 2 months 12 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 3,070		$ 3,070
Accumulated Amortization	(1,438)		(1,296)
Net Carrying Value	$ 1,632		$ 1,774
Customer relationships \| Weighted Average Useful Life in Years
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	5 years		5 years
Database
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 8,330		$ 8,330
Accumulated Amortization	(1,162)		(954)
Net Carrying Value	$ 7,168		$ 7,376
Database \| Weighted Average Useful Life in Years
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	10 years		10 years
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 10,541		$ 10,541
Accumulated Amortization	(6,466)		(6,074)
Net Carrying Value	$ 4,075		$ 4,467
Technology \| Weighted Average Useful Life in Years
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	5 years		5 years
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 2,690		$ 2,690
Accumulated Amortization	(1,036)		(898)
Net Carrying Value	$ 1,654		$ 1,792
Trademarks and trade names \| Weighted Average Useful Life in Years
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	6 years		6 years
Partner relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 680		$ 680
Accumulated Amortization	(680)		(680)
Net Carrying Value	$ 0		$ 0
Partner relationships \| Weighted Average Useful Life in Years
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	3 years		3 years
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 7,400		$ 7,400
Accumulated Amortization	(1,854)		(1,484)
Net Carrying Value	$ 5,546		$ 5,916
Non-compete agreements \| Weighted Average Useful Life in Years
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	5 years		5 years
Domain names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 301		$ 301
Accumulated Amortization	(277)		(276)
Net Carrying Value	$ 24		$ 25
Domain names \| Weighted Average Useful Life in Years
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	5 years		5 years
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 252		$ 252
Accumulated Amortization	(230)		(225)
Net Carrying Value	$ 22		$ 27
Patents \| Weighted Average Useful Life in Years
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	5 years		5 years
Backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value			$ 470
Accumulated Amortization			(470)
Net Carrying Value			$ 0
Backlog \| Weighted Average Useful Life in Years
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life			1 year

Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2020	$ 3,623
2021	4,727
2022	4,665
2023	3,060
2024	1,197
Thereafter	2,849
Net Carrying Value	$ 20,121	$ 21,377

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Lease renewal term	10 years
Total lease cost associated with operating leases	$ 1.4	$ 1.2
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	12 years

Leases - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Prepaid expenses and other current assets	$ 3,118	$ 3,908
Operating lease right-of-use assets	26,750	27,803
Other current liabilities	2,779	2,826
Operating lease liabilities	34,143	33,312
Total lease liabilities	$ 36,922	$ 36,138

Leases - Schedule of Minimum Lease Payments Under Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Years ending December 31,
2020			$ 1,663
2021			2,383
2022			4,085
2023			3,977
2024			3,908
Thereafter			29,590
Total future minimum lease payments			45,606
Less: imputed interest			(11,802)
Total			33,804
Lessee, Lease, Description [Line Items]
Operating lease, current			2,779	$ 2,826
Forecast
Lessee, Lease, Description [Line Items]
Payments for tenant improvements	$ 2,300	$ 2,800
Prepaid Expenses and Other Current Assets
Lessee, Lease, Description [Line Items]
Operating lease, current			$ 3,100

Long-Term Debt - Narrative (Details) - USD ($)	Dec. 24, 2018	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Capitalized deferred financing costs	$ 400,000
Other Assets
Debt Instrument [Line Items]
Capitalized deferred financing costs		$ 200,000	$ 300,000
Credit Facility
Debt Instrument [Line Items]
EBITDA to interest expense ratio	3.0
Funded indebtedness to EBITDA ratio	3.5
Annual decrease in required leverage ratio	0.25
Required leverage ratio	2.5
Floor plus 20% of the sum of the combined outstanding principal amounts	$ 20,000,000.0
Acquisition purchase price floor for 0.5 increase in required leverage ratio for 12 month period following the close date	$ 20,000,000.0
Capitalized deferred financing costs		400,000	400,000
Credit Facility \| Minimum \| LIBOR
Debt Instrument [Line Items]
Variable rate, basis spread percent	1.50%
Credit Facility \| Minimum \| Federal Funds Rate
Debt Instrument [Line Items]
Variable rate, basis spread percent	0.50%
Credit Facility \| Maximum \| LIBOR
Debt Instrument [Line Items]
Variable rate, basis spread percent	2.00%
Credit Facility \| Maximum \| Federal Funds Rate
Debt Instrument [Line Items]
Variable rate, basis spread percent	1.00%
Credit Facility \| Term Loan
Debt Instrument [Line Items]
Capitalized deferred financing costs	$ 200,000	200,000	200,000
Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000,000.0
Commitment fee percentage	0.25%
Commitment fee	$ 30,000,000.0
Unused portion of the Revolving Facility, percentage	3.75%
Line of credit, remaining borrowing capacity		1,000,000.0	50,000,000.0
Line of credit, amount outstanding		$ 49,000,000.0	$ 0
Capitalized deferred financing costs	$ 200,000

Long-Term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal amounts due under term loan	$ 48,438
Term Loan \| Credit Facility
Debt Instrument [Line Items]
Principal amounts due under term loan	48,438	$ 48,750
Unamortized debt financing costs	(158)	(167)
Long-term debt, net of unamortized debt financing costs	$ 48,280	$ 48,583

Long-Term Debt - Schedule of Principal Payments for Term Loan (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Debt Disclosure [Abstract]
2020	$ 938
2021	2,500
2022	2,500
2023	42,500
Total principal payments	$ 48,438

Commitments and Contingencies (Details) - USD ($)	3 Months Ended
Commitments and Contingencies (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Per incident policy limit	$ 100,000
Quota share of tenant liability insurance provided, percent	100.00%
Other current liabilities
Loss Contingencies [Line Items]
Liability for reported claims and claims incurred but not reported	$ 2,000,000.0	$ 1,800,000
Other current assets
Loss Contingencies [Line Items]
Deposits held with a third party related to insurance services collateral	$ 1,600,000	$ 1,300,000

Share Repurchase Program (Details)	3 Months Ended
Share Repurchase Program (Details)	Mar. 31, 2020 USD ($) director shares	Feb. 20, 2019 USD ($)
Equity [Abstract]
Share repurchase program, authorized amount		$ 100,000,000.0
Number of Directors to authorize repurchases \| director	3
Repurchased shares (in shares) \| shares	48,002
Reduction to stockholders' equity	$ 4,194,000

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Number of Shares
Options outstanding, beginning balance (in shares)	1,342,000
Options granted (in shares)	0	0
Options exercised (in shares)	(17,000)
Options cancelled/forfeited (in shares)	(55,000)
Options outstanding, ending balance (in shares)	1,270,000		1,342,000
Weighted Average Exercise Price per Share
Options outstanding, weighted average exercise price, beginning balance (in dollars per share)	$ 11.84
Options granted, weighted average exercise price (in dollars per share)	0
Options exercised, weighted average exercise price (in dollars per share)	5.77
Options cancelled/forfeited, weighted average exercise price (in dollars per share)	23.80
Options outstanding, weighted average exercise price, ending balance (in dollars per share)	$ 11.39		$ 11.84
Weighted average remaining contractual life, in years	5 years 7 months 6 days		5 years 10 months 24 days
Stock Options
Weighted Average Exercise Price per Share
Stock-based compensation expense		$ 0.2
PSOs \| 2017 Performance Metric, Targeted Free Cash Flow Performance Metric
Weighted Average Exercise Price per Share
Share-based compensation options vested (in shares)	77,000		40,000
Percent of achievement of award target performance metric	95.00%		115.00%

Stock-Based Compensation - Restricted Stock Units Activity (Details) - RSUs and PSUs shares in Thousands	3 Months Ended
	Mar. 31, 2020 $ / shares shares
Number of Shares
Unvested, beginning balance (in shares) \| shares	646
Granted (in shares) \| shares	103
Vested (in shares) \| shares	(146)
Forfeited (in shares) \| shares	(10)
Unvested, ending balance (in shares) \| shares	593
Weighted- Average Grant Date Fair Value per Share
Unvested, beginning balance (in dollars per share) \| $ / shares	$ 52.42
Granted (in dollars per share) \| $ / shares	109.60
Vested (in dollars per share) \| $ / shares	21.92
Forfeited (in dollars per share) \| $ / shares	50.19
Unvested, ending balance (in dollars per share) \| $ / shares	$ 69.93

Stock-Based Compensation - Restricted Stock Units (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)	103
Share-based compensation options vested in period (in shares)	146
Stock-based compensation expense	$ 1.2	$ 1.6
Remaining stock-based compensation expense for unvested shares, not yet recognized	$ 26.1
Stock-based compensation expense, weighted average recognition period	2 years 6 months
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)	100
Vesting period	4 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)	3
Percent of targeted performance metric	100.00%
Share-based compensation options vested in period (in shares)	84
Percent of achievement of award target performance metric			95.00%
PSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	0.00%
PSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	100.00%
PSUs \| Vesting Tranche One \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	100.00%
Performance based cash bonus payment percent	100.00%
PSUs \| Vesting Tranche One \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	150.00%
Performance based cash bonus payment percent	165.00%
PSUs \| 2016 Performance Metric
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)	4
PSUs Granted in 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)	37
PSUs Granted in 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)	95
Performance Stock Units Granted in 2019 and 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	100.00%
Performance Stock Units Granted in 2019 and 2018 \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	0.00%
Percent of cash bonus payments on initial targets, percent	100.00%
Performance Stock Units Granted in 2019 and 2018 \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	100.00%
Percent of cash bonus payments on initial targets, percent	165.00%
Performance Stock Units Granted in 2019 and 2018 \| Vesting Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation options vested in period (in shares)	54
Performance Stock Units Granted in 2019 and 2018 \| Vesting Tranche One \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	100.00%
Performance Stock Units Granted in 2019 and 2018 \| Vesting Tranche One \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	150.00%
Performance Stock Units Granted in 2019 and 2018 \| Vesting Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation options vested in period (in shares)	49
Performance Stock Units Granted in 2019 and 2018 \| Vesting Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation options vested in period (in shares)	29

Stock-Based Compensation - Restricted Stock Awards (Details) - Restricted Stock Awards - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Number of Shares
Unvested, beginning balance (in shares)	5
Granted (in shares)	0
Vested (in shares)	0
Forfeited (in shares)	0
Unvested, ending balance (in shares)	5
Weighted Average Grant Date Fair Value per Share
Unvested, beginning balance (in dollars per share)	$ 105.88
Granted (in dollars per share)	0
Vested (in dollars per share)	0
Forfeited (in dollars per share)	0
Unvested, ending balance (in dollars per share)	$ 105.88
Vesting period	1 year
Stock-based compensation expense	$ 0.1	$ 0.1
Remaining stock-based compensation expense for unvested shares, not yet recognized	$ 0.2
Stock-based compensation expense, weighted average recognition period	6 months

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 375	$ (4,281)
Acquired deferred tax liabilities	$ 4,100

Revenue and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 72,495	$ 57,091
Revenue recognized in deferred revenue	2,300	1,700
Core solutions
Disaggregation of Revenue [Line Items]
Revenue	24,902	20,822
Value plus services
Disaggregation of Revenue [Line Items]
Revenue	44,138	33,698
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 3,455	$ 2,571

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 436,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 429,000