CONSENSUS CLOUD SOLUTIONS, INC., 10-Q filed on 5/8/2026
Quarterly Report
v3.26.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2026
May 04, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
Document Transition Report false  
Entity File Number 001-40750  
Entity Registrant Name Consensus Cloud Solutions, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 87-1139414  
Entity Address, Address Line One 700 S. Flower Street  
Entity Address, Address Line Two 15th Floor  
Entity Address, City or Town Los Angeles  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 90017  
City Area Code 323  
Local Phone Number 860-9200  
Title of 12(b) Security Common Stock, $0.01 par value  
Trading Symbol CCSI  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   18,397,950
Entity Central Index Key 0001866633  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Cash and cash equivalents $ 92,294 $ 74,685
Accounts receivable, net of allowances of $2,865 and $3,105, respectively 24,406 23,686
Prepaid expenses and other current assets 13,530 18,788
Total current assets 130,230 117,159
Property and equipment, net 120,789 116,869
Operating lease right-of-use assets 4,724 5,098
Intangibles, net 38,209 38,761
Goodwill 351,297 352,939
Deferred income taxes 21,149 21,666
Other assets 12,341 11,323
TOTAL ASSETS 678,739 663,815
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Accounts payable and accrued expenses 40,485 36,045
Income taxes payable, current 1,890 97
Deferred revenue, current 20,238 19,773
Operating lease liabilities, current 2,522 2,576
Current portion of long-term debt 7,046 7,047
Total current liabilities 72,181 65,538
Long-term debt, net of current portion 549,781 551,322
Deferred revenue, noncurrent 1,484 1,567
Operating lease liabilities, noncurrent 9,166 9,754
Liability for uncertain tax positions 14,876 14,484
Deferred income taxes 9,054 7,176
Other long-term liabilities 194 201
TOTAL LIABILITIES 656,736 650,042
Commitments and contingencies (Note 8)
Common stock, $0.01 par value. Authorized 120,000,000; total issued is 21,097,257 and 21,057,258 shares and total outstanding is 18,397,950 and 18,958,448 shares as of March 31, 2026 and December 31, 2025, respectively 211 211
Treasury stock, at cost (2,699,307 and 2,098,810 shares as of March 31, 2026 and December 31, 2025, respectively) (72,646) (55,476)
Additional paid-in capital 81,254 76,984
Retained earnings 25,534 849
Accumulated other comprehensive loss (12,350) (8,795)
TOTAL STOCKHOLDERS’ EQUITY 22,003 13,773
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 678,739 $ 663,815
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Allowance for doubtful accounts $ 2,865 $ 3,105
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 120,000,000 120,000,000
Common stock, shares issued (in shares) 21,097,257 21,057,258
Common stock outstanding (in shares) 18,397,950 18,958,448
Treasury stock (in shares) 2,699,307 2,098,810
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Revenues $ 88,467 $ 87,138
Cost of revenues [1] 16,900 18,070
Gross profit 71,567 69,068
Operating expenses:    
Sales and marketing [1] 13,816 12,788
Research, development and engineering [1] 1,916 1,712
General and administrative [1] 18,093 17,071
Total operating expenses 33,825 31,571
Income from operations 37,742 37,497
Interest expense (7,763) (8,976)
Interest income 661 451
Other income (expense), net 1,416 (1,097)
Income before income taxes 32,056 27,875
Income tax expense 7,371 6,723
Net income $ 24,685 $ 21,152
Net income per common share:    
Basic (in dollars per share) $ 1.32 $ 1.08
Diluted (in dollars per share) $ 1.30 $ 1.07
Weighted average shares outstanding:    
Basic (in shares) 18,705,051 19,530,579
Diluted (in shares) 19,041,227 19,690,822
[1]
(1) Includes share-based compensation expense as follows:
Cost of revenues$442 $476 
Sales and marketing751 714 
Research, development and engineering138 105 
General and administrative2,933 2,969 
Total$4,264 $4,264 
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Share-based compensation expense $ 4,264 $ 4,264
Cost of revenues    
Share-based compensation expense 442 476
Sales and marketing    
Share-based compensation expense 751 714
Research, development and engineering    
Share-based compensation expense 138 105
General and administrative    
Share-based compensation expense $ 2,933 $ 2,969
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net income $ 24,685 $ 21,152
Other comprehensive (loss) income:    
Foreign currency translation adjustment (3,555) 4,368
Other comprehensive (loss) income (3,555) 4,368
Comprehensive income $ 21,130 $ 25,520
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 24,685,000 $ 21,152,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,898,000 5,178,000
Amortization of financing costs and discounts 380,000 420,000
Non-cash operating lease costs 374,000 394,000
Share-based compensation 4,264,000 4,264,000
Provision for doubtful accounts 1,337,000 1,417,000
Deferred income taxes, net 1,890,000 33,000
Loss on extinguishment of debt 0 77,000
Decrease (increase) in:    
Accounts receivable (2,305,000) (3,148,000)
Prepaid expenses and other current assets 5,253,000 4,710,000
Other assets (1,065,000) 105,000
Increase (decrease) in:    
Accounts payable and accrued expenses 3,712,000 3,276,000
Income taxes payable 2,237,000 2,215,000
Deferred revenue 425,000 829,000
Operating lease liabilities (642,000) (393,000)
Liability for uncertain tax positions 392,000 418,000
Other liabilities (8,000) (4,000)
Net cash provided by operating activities 45,827,000 40,943,000
Cash flows from investing activities:    
Purchases of property and equipment (7,372,000) (7,196,000)
Purchase of investments 0 (5,000,000)
Net cash used in investing activities (7,372,000) (12,196,000)
Cash flows from financing activities:    
Repayment of term loan (1,875,000) 0
Repurchase of common stock (17,012,000) (34,000)
Taxes paid related to net share settlement (734,000) (339,000)
Repurchase of debt 0 (9,749,000)
Net cash used in financing activities (19,621,000) (10,122,000)
Effect of exchange rate changes on cash and cash equivalents (1,225,000) 1,229,000
Net change in cash and cash equivalents 17,609,000 19,854,000
Cash and cash equivalents at beginning of period 74,685,000 33,545,000
Cash and cash equivalents at end of period $ 92,294,000 $ 53,399,000
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($)
$ in Thousands
Total
Common stock
Additional paid-in capital
Treasury stock
Accumulated deficit
Accumulated other comprehensive loss
Common stock, beginning balance (in shares) at Dec. 31, 2024   20,609,725        
Beginning balance at Dec. 31, 2024 $ (79,463) $ 206 $ 59,373 $ (32,313) $ (83,678) $ (23,051)
Treasury stock, beginning balance (in shares) at Dec. 31, 2024       (1,085,725)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 21,152          
Foreign currency translation adjustment 4,368         4,368
Vested restricted stock (in shares)   31,885        
Share-based payment arrangement, shares withheld for tax withholding obligation (in shares)   (13,477)        
Shares withheld related to net share settlement $ (339)   (339)      
Repurchase of common stock (in shares) (1,471)     (1,471)    
Repurchase of common stock $ (34)     $ (34)    
Share-based compensation 4,958   4,958      
Common stock, ending balance (in shares) at Mar. 31, 2025   20,628,133        
Ending balance at Mar. 31, 2025 $ (49,358) $ 206 63,992 $ (32,347) (62,526) (18,683)
Treasury stock, ending balance (in shares) at Mar. 31, 2025       (1,087,196)    
Common stock, beginning balance (in shares) at Dec. 31, 2025 18,958,448 21,057,258        
Beginning balance at Dec. 31, 2025 $ 13,773 $ 211 76,984 $ (55,476) 849 (8,795)
Treasury stock, beginning balance (in shares) at Dec. 31, 2025 (2,098,810)     (2,098,810)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 24,685       24,685  
Foreign currency translation adjustment (3,555)         (3,555)
Vested restricted stock (in shares)   64,758        
Vested restricted stock 0          
Share-based payment arrangement, shares withheld for tax withholding obligation (in shares)   (24,759)        
Shares withheld related to net share settlement $ (734)   (734)      
Repurchase of common stock (in shares) (600,497)     (600,497)    
Repurchase of common stock $ (17,170)     $ (17,170)    
Share-based compensation $ 5,004   5,004      
Common stock, ending balance (in shares) at Mar. 31, 2026 18,397,950 21,097,257        
Ending balance at Mar. 31, 2026 $ 22,003 $ 211 $ 81,254 $ (72,646) $ 25,534 $ (12,350)
Treasury stock, ending balance (in shares) at Mar. 31, 2026 (2,699,307)     (2,699,307)    
v3.26.1
Basis of Presentation
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation Basis of Presentation
The Company
Consensus Cloud Solutions, Inc., together with its subsidiaries (“Consensus Cloud Solutions”, “Consensus”, the “Company”, “our”, “us” or “we”), is a provider of secure information delivery services with a scalable Software-as-a-Service (“SaaS”) platform. Consensus serves customers of all sizes, from enterprises to individuals, across the globe and multiple industry verticals including, but not limited to, healthcare, government, financial services, law and education. Beginning as an online fax company over two decades ago, Consensus has evolved into a global provider of enterprise secure communication solutions. Our communication, extraction and digital signature solutions enable our customers to securely and cooperatively access, exchange and use information across organizational, regional and national boundaries.
Principles of Consolidation
The accompanying interim condensed consolidated financial statements include the accounts of Consensus and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Basis of Presentation
The accompanying interim condensed consolidated financial statements are unaudited and have been prepared in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X issued by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and note disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. The Company believes that the disclosures made are adequate to make that information not misleading. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for the fair statement of these interim financial statements have been reflected. It is suggested that these financial statements be read in conjunction with the audited financial statements and the related notes thereto for the year ended December 31, 2025, included in our Annual Report (Form 10-K) filed with the SEC on February 13, 2026. Accordingly, significant accounting policies and other disclosures normally provided have been omitted since such items are disclosed therein.
The results of operations for this interim period are not necessarily indicative of the operating results for the full year or for any future period.
Use of Estimates
The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, including judgments about the reported amounts of revenue and expenses during the reporting period. The Company believes that its most significant estimates are those related to revenue recognition, internal-use software development costs, share-based compensation expense, income taxes and tax contingencies. On an ongoing basis, management evaluates its estimates based on historical experience and on various other factors that the Company believes to be reasonable under the circumstances. Actual results could materially differ from those estimates due to risks and uncertainties, including uncertainty in the current economic environment due to factors such as inflationary pressures and elevated interest rates.
Significant Accounting Policies
There have been no material changes to our significant accounting policies from our Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
Segment Reporting
FASB ASC Topic No. 280, Segment Reporting (“ASC 280”), establishes standards for the way that public business entities report information about reportable segments in their annual consolidated financial statements and requires that those
entities report selected information about reportable segments in interim financial reports. ASC 280 also establishes standards for related disclosures about products and services, geographic areas and major customers. The Company’s business segment is based on the organization’s structure used by the chief operating decision maker (“CODM”), who is our chief executive officer (“CEO”), for making operating and investment decisions and for assessing performance. The Company’s CEO reviews financial information presented on a consolidated basis for purposes of assessing performance and making decisions on how to allocate resources. The CEO uses consolidated profit or loss from operations before interest and income taxes to allocate resources predominantly in the annual budget and forecasting process. The CEO considers budget-to-actual variances on a monthly basis when making decisions about allocating capital and personnel. The CEO also uses consolidated profit or loss from operations before interest and income taxes and consolidated net income to assess performance. Accordingly, the Company has determined that it operates one reportable segment known as Cloud Fax (see Note 14 - Segment Information). The condensed consolidated financial statements and related disclosures reflect the segment operations of Cloud Fax.
Reclassifications
Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.
v3.26.1
Recent Accounting Pronouncements
 3 Months Ended
Mar. 31, 2026
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Recent Accounting Pronouncements Recent Accounting Pronouncements
In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). The amendments in this ASU provide a practical expedient permitting an entity to assume that conditions at the balance sheet date remain unchanged over the life of the asset when estimating expected credit losses for current accounts receivable and current contract assets. The amendments in this ASU should be applied on a prospective basis. The amendments in this ASU are effective for annual periods beginning after December 15, 2025, and for interim periods within those annual periods. Early adoption is permitted. The Company adopted the provisions of ASU 2025-05 in the first quarter of 2026 and elected to apply the practical expedient. ASU 2025-05 did not materially impact our consolidated financial statements upon adoption.
v3.26.1
Revenues
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
The Company earns revenue from contracts with customers, primarily through the provision of cloud-based communication and digital signature solutions that allow customers to access the Company’s software without taking possession. The contracts include both recurring subscription and usage-based fees, and the total transaction price is allocated to performance obligations in each contract as appropriate. Revenue for cloud-based services is recognized over time in the period earned. The contracts may be terminated early. Fees collected in advance are non-refundable, and they are deferred and recognized in revenue when the related performance obligations are satisfied. Standard Corporate contracts billed monthly include a termination charge equal to the minimum fees payable through the last day of the contract term.
Revenues from external customers classified by revenue source are as follows (in thousands):
Three Months Ended March 31,
20262025
Revenues
Corporate$58,722 $54,289 
Small office home office (“SoHo”)29,745 32,849 
Total
$88,467 $87,138 
Timing of revenue recognition
Point in time$427 $643 
Over time88,040 86,495 
Total$88,467 $87,138 
The Company has recorded $9.0 million and $9.5 million of revenue for the three months ended March 31, 2026 and 2025, respectively, that was previously included in the deferred revenue balance as of the beginning of each respective year.
Performance Obligations
Generally, the Company’s contracts with customers include one performance obligation, however, certain contracts may include multiple performance obligations. For such arrangements, revenues are allocated to each performance obligation based on their relative standalone selling price.
The Company satisfies its performance obligations upon delivery of products or services to its customers. Payment terms vary by type and location of the Company’s customers and the products and services offered. The time between invoicing and when payment is due is not significant. Due to the nature of the services provided, there are no obligations for returns.
Significant Judgments
Determining whether products and services are considered distinct performance obligations may require significant judgment. When a contract includes both on-premises software licenses and cloud-based services, judgment is required to determine whether the software license is considered distinct and accounted for separately, or not distinct and accounted for together with the cloud-based service and recognized over time.
Judgment is also required to determine the standalone selling price for each distinct performance obligation when there are multiple performance obligations. In certain cases, the Company is able to establish the standalone selling price based on observable prices of products or services sold or priced separately in comparable circumstances to similar customers. The Company uses a range of amounts to estimate the standalone selling price when each of the products and services is sold separately to determine whether there is a discount to be allocated based on the relative standalone selling price of the various products and services.
Performance Obligations Satisfied Over Time
The Company’s business consists primarily of performance obligations that are satisfied over time based on the fact that the nature of the cloud-based services offered is subscription based where the customer simultaneously receives and consumes the benefit of the services provided regardless of whether the customer uses the services or not. Depending on the individual contracts with the customer, revenue for these services is recognized over the contract period when services are provided. The Company expects to recognize revenue for Corporate contracts typically in a range from month-to-month up to 36 months and recognize revenue for SoHo contracts in a range from month-to-month up to one year. Revenue from usage-based fees is recognized in proportion to the amount for which the Company has the right to invoice for services performed, which corresponds with the utilization of the services by the customer.
The Company has concluded that the best measure of progress toward the complete satisfaction of the performance obligations over time is a time-based measure. The Company recognizes revenue on a straight-line basis throughout the subscription period and believes that the method used is a faithful depiction of the transfer of goods and services.
Practical Expedients
Existence of a Significant Financing Component in a Contract
As a practical expedient, the Company has not assessed whether a contract has a significant financing component because the Company expects at contract inception that the period between payment by the customer and the transfer of promised goods or services by the Company to the customer will be one year or less. In addition, the Company has determined that the payment terms the Company provides to its customers are structured primarily for reasons other than the provision of finance to the Company. The Company typically charges an upfront subscription amount for services, or an amount for usage in arrears, or a combination thereof, as other payment terms would affect the nature of the risk assumed by the Company due to the costs of the customer acquisition and the highly competitive and commoditized nature of the business the Company operates.
Costs to Obtain a Contract
The Company’s revenues are primarily generated from customer contracts that are for one year or less. Costs primarily consist of incentive compensation paid based on the achievements of sales targets in a given period for related revenue streams and are recognized in the month when the revenue is earned. Incentive compensation is paid upon the issuance or renewal of the
customer contract. As a practical expedient, for amortization periods that are determined to be one year or less, the Company expenses any incremental costs of obtaining the contract with a customer when incurred. For those customer contracts greater than one year, the Company capitalizes and amortizes the expenses, when appropriate, over the period of benefit.
Revenues Invoiced
The Company has applied the practical expedient for certain revenue streams to exclude the value of remaining performance obligations for (i) contracts with an original expected term of one year or less or (ii) contracts for which the Company recognizes revenue in proportion to the amount it has the right to invoice for services performed.
v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The Company complies with the provisions of FASB ASC Topic No. 820, Fair Value Measurement, (“ASC 820”), which defines fair value, provides a framework for measuring fair value and expands the disclosures required for fair value measurements of financial and non-financial assets and liabilities. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:
§Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
§Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
§Level 3 – Unobservable inputs which are supported by little or no market activity.
The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. Cash and cash equivalents include money market funds of $57.1 million and $65.1 million as of March 31, 2026 and December 31, 2025, respectively, which are valued based on Level 1 inputs consisting of quoted prices in active markets. The carrying value of the Company’s cash and cash equivalents approximates fair value.
The fair value of fixed interest rate long-term debt is determined using recent quoted market prices or dealer quotes for each of the Company’s instruments, which are Level 1 inputs (see Note 7 - Long-Term Debt). The carrying value of long-term debt is reflected in the financial statements at cost.
Assets Measured on a Non-Recurring Basis
The Company’s non-financial assets, which primarily consist of goodwill, indefinite-lived intangible assets, long-lived assets and equity securities without a readily determinable fair value are reported at carrying value, or at fair value as of their acquisition dates, and are not required to be measured at fair value on a recurring basis. However, if any of these types of assets become impaired, the carrying values of the assets are written down to fair value using Level 3 inputs.
The carrying amount of the Company’s investments accounted for using the measurement alternative method in accordance with FASB ASC Topic No. 321, Investments - Equity Securities (“ASC 321”) as of March 31, 2026 and December 31, 2025, was $8.0 million and $8.0 million, respectively, and is included in other assets within the Company’s Condensed Consolidated Balance Sheets. The Company reviews these investments at each reporting period to determine if there are indicators of impairment. If the Company determines that an investment is impaired, the loss will be recorded in the period in which the impairment is identified. During the three months ended March 31, 2026 and 2025, the Company did not recognize any unrealized gains or losses and did not have any impairments during the respective periods.
v3.26.1
Property and Equipment
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, stated at cost, consisted of the following (in thousands):
March 31, 2026December 31, 2025
Internal-use software development costs
$120,285 $99,961 
Computers, software and equipment
19,466 19,504 
Furniture and fixtures
890 892 
Leasehold improvements1,722 1,724 
Internal-use software development costs in process
55,312 67,400 
197,675 189,481 
Less: Accumulated depreciation and amortization(76,886)(72,612)
 Total property and equipment, net$120,789 $116,869 
Depreciation and amortization expense was $4.4 million and $4.5 million for the three months ended March 31, 2026 and 2025, respectively.
No impairment was recorded in the three months ended March 31, 2026 and 2025.
v3.26.1
Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in carrying amounts of goodwill for the three months ended March 31, 2026 are as follows (in thousands):
Amount
Balance as of January 1, 2026
$352,939 
Foreign exchange translation(1,642)
Balance as of March 31, 2026$351,297 
As of March 31, 2026 the Company’s goodwill had no accumulated impairment.
Intangible Assets with Indefinite Lives:
Intangible assets are summarized as follows (in thousands):
March 31, 2026December 31, 2025
Trade names$27,400 $27,422 
Other4,045 4,045 
Total$31,445 $31,467 
Intangible Assets Subject to Amortization:
As of March 31, 2026, intangible assets subject to amortization are summarized as follows (in thousands):
Weighted-Average Remaining
  Amortization
Period
Historical
Cost		Accumulated
Amortization		Net
Trade names0.1 years$8,260 $8,141 $119 
Patent and patent licenses0.0 years54,341 54,341 — 
Customer relationships (1)
1.5 years109,173 103,585 5,588 
Other purchased intangibles 1.0 year11,913 10,856 1,057 
Total
 $183,687 $176,923 $6,764 
(1) The Company amortizes its customer relationship assets in a pattern that best reflects the pace in which the assets’ benefits are consumed. This pattern results in a substantial majority of the amortization expense being recognized in the first four to five years, which may not correlate to the overall life of the asset.
    As of December 31, 2025, intangible assets subject to amortization are summarized as follows (in thousands):
Weighted-Average Remaining
  Amortization
Period
Historical
Cost		Accumulated
Amortization		Net
Trade names0.1 years$8,299 $8,148 $151 
Patent and patent licenses0.0 years54,341 54,341 — 
Customer relationships (1)
1.6 years109,663 103,616 6,047 
Other purchased intangibles 1.0 year11,917 10,821 1,096 
Total$184,220 $176,926 $7,294 
(1) The Company amortizes its customer relationship assets in a pattern that best reflects the pace in which the assets’ benefits are consumed. This pattern results in a substantial majority of the amortization expense being recognized in the first four to five years, which may not correlate to the overall life of the asset.
Expected amortization expenses for intangible assets subject to amortization at March 31, 2026 are as follows (in thousands):
Fiscal Year:Amount
2026 (remainder)
$1,577 
2027
1,405 
2028
986 
2029
803 
2030
651 
Thereafter1,342 
Total$6,764 
Amortization expense was $0.5 million and $0.7 million for the three months ended March 31, 2026 and 2025, respectively.
No impairment of intangible assets was recorded in the three months ended March 31, 2026 and 2025.
v3.26.1
Long-Term Debt
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Long-term debt consists of the following, terms defined below (in thousands):
March 31, 2026December 31, 2025
2028 Senior Notes$348,247 $348,247 
DDTL Facility
148,125 150,000 
Revolving Credit Facility
64,000 64,000 
Total
560,372 562,247 
Less: deferred issuance costs
(3,545)(3,878)
Total debt
556,827 558,369 
Less: current portion, net of debt issuance costs
(7,046)(7,047)
Total long-term debt, less current portion
$549,781 $551,322 
As of March 31, 2026 and December 31, 2025, the estimated fair value of the 2028 Senior Notes (as defined below) was approximately $344.8 million and $349.1 million, respectively.
The Company capitalized $1.1 million and $0.8 million of interest expense within property and equipment, net on the Company’s Condensed Consolidated Balance Sheets during the three months ended March 31, 2026 and 2025, respectively.
As of March 31, 2026, future contractual principal payments for debt were as follows (in thousands):
Fiscal year:Total
2026 (remainder)
$5,625 
2027
7,500 
2028
547,247 
2029
— 
2030
— 
Thereafter— 
Total$560,372 
2028 Senior Notes
On October 7, 2021, Consensus issued $500.0 million of 6.5% senior notes due in 2028 (the “2028 Senior Notes”) to Ziff Davis, Inc. (“Ziff Davis” or the “Former Parent”) in exchange for the equity interest in the Company. Ziff Davis then exchanged the 2028 Senior Notes with lenders under its credit agreement (or their affiliates) in exchange for extinguishment of a similar amount of indebtedness under such credit agreement. The 2028 Senior Notes are presented as long-term debt, net of current portion, which is presented net of deferred issuance costs, on the Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025. The 2028 Senior Notes bear interest at a rate of 6.5% per annum and mature on October 15, 2028. The Company may redeem some or all of the 2028 Senior Notes at any time on or after October 15, 2026 at specified redemption prices plus accrued and unpaid interest, if any, up to, but excluding the redemption date.
The indenture pursuant to which the 2028 Senior Notes were issued contains covenants that restrict the Company’s ability to (i) pay dividends or make distributions on the Company’s common stock; (ii) make certain restricted payments; (iii) create liens or enter into sale and leaseback transactions; (iv) enter into transactions with affiliates; (v) merge or consolidate with another company; and (vi) transfer and sell assets. These covenants contain certain exceptions. Restricted payments are applicable only if Consensus Cloud Solutions, Inc. and subsidiaries designated as restricted subsidiaries has a net leverage ratio of greater than 3.0 to 1.0. In addition, if such net leverage ratio is in excess of 3.0 to 1.0, the restriction on restricted payments is subject to various exceptions, including the total aggregate amount not to exceed the greater of (A) $100.0 million and (B) 50.0% of EBITDA for the most recently ended four fiscal quarter period ended immediately prior to such date for which internal financial statements are available. The Company is in compliance with its debt covenants as of March 31, 2026.
2025 Credit Agreement
On July 9, 2025, the Company entered into a Credit Agreement (the “2025 Credit Agreement”) with certain lenders party thereto (the “Lenders”) and U.S. Bank National Association, as agent (the “Agent”). Pursuant to the 2025 Credit Agreement, the Lenders have provided the Company with a senior secured revolving credit facility of $75.0 million (the “Revolving Credit Facility”) and a senior secured delayed-draw term loan facility of $150.0 million (the “DDTL Facility” and together with the Revolving Credit Facility, the “2025 Credit Facility”). The final maturity of the 2025 Credit Facility will occur on July 10, 2028, subject to limited customary accelerators. The Company incurred debt issuance costs of $1.7 million associated with the 2025 Credit Agreement, of which $0.6 million and $1.1 million were allocated to the Revolving Credit Facility and the DDTL Facility, respectively.
Subject to the terms and conditions of the 2025 Credit Agreement, the Company may borrow, repay and reborrow revolving loans at any time during the term of the facility. Borrowings under the DDTL Facility that are prepaid or repaid may not be reborrowed. Voluntary prepayments of loans and voluntary reductions of unused commitments under the 2025 Credit Agreement are permissible without penalty (other than customary interest breakage charges). The 2025 Credit Facility is guaranteed by each wholly-owned material domestic subsidiary of the Company and secured by substantially all assets of the Company and the guarantors, subject to other customary exceptions.
Commencing with the first full fiscal quarter ending after the DDTL Facility was funded, the Company is required to make quarterly principal payments, each in an amount of 1.25% of the initial aggregate principal amount borrowed on the DDTL Facility. The interest rates applicable to the loans made under the 2025 Credit Facility are, at the Company’s option, equal to either a base rate or the Secured Overnight Financing Rate (“SOFR”) plus an applicable margin based on the total net leverage ratio (0.50% - 1.25% in the case of base rate loans and 1.50% - 2.25% in the case of SOFR loans). Due to the variable nature of these interest rates, the Company has determined that the carrying value of any borrowings under the 2025 Credit Facility approximates fair value. As of March 31, 2026 and December 31, 2025, the Company had $148.1 million and $150.0 million outstanding under the DDTL Facility, respectively, and had $64.0 million outstanding under the Revolving Credit Facility, at both March 31, 2026 and December 31, 2025. The weighted-average interest rate on borrowings under the 2025 Credit Facility as of March 31, 2026 was 5.4%.
The 2025 Credit Agreement contains covenants that, subject to certain exceptions, restrict the Company’s ability to: (i) pay dividends or make distributions on the Company’s common stock; (ii) make certain restricted payments (including certain voluntary payments in respect of the Company’s 2028 Senior Notes); (iii) create liens or enter into sale and leaseback transactions; (iv) enter into transactions with affiliates; (v) merge or consolidate with another company; (vi) incur indebtedness, (vii) make acquisitions and other investments and (viii) transfer and sell assets. Additionally, the 2025 Credit Facility is subject to a maximum total net leverage ratio covenant and a minimum fixed charges coverage ratio covenant, in each case tested on a quarterly basis. The Company is in compliance with its covenants as of March 31, 2026.
Debt Repurchase Program
On November 9, 2023, the Board of Directors approved a debt repurchase program, pursuant to which Consensus may reduce, through redemptions, open market purchases, tender offers, privately negotiated purchases or other retirements, a combination of the outstanding principal balance of the previously outstanding senior notes that were due in 2026 and the 2028 Senior Notes (“Debt Repurchase Program”). The authorization permits an aggregate principal amount reduction of up to $300 million and expires on November 9, 2026. The timing and amounts of purchases will be determined by the Company, depending on market conditions and other factors it deems relevant. During the three months ended March 31, 2026, the Company made no repurchases under this program. During the three months ended March 31, 2025, the Company retired $9.7 million in principal of its senior notes under this program. As of March 31, 2026, the Company has retired an aggregate of $222.6 million in principal of its senior notes under this program.
During the three months ended March 31, 2026, the Company recognized no debt extinguishment gain or loss related to the Debt Repurchase Program. For the three months ended March 31, 2025, a net loss on debt extinguishment of $0.1 million related to the Debt Repurchase Program is included in interest expense on the Condensed Consolidated Statements of Income.
v3.26.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Litigation
From time to time, the Company and its affiliates are involved in litigation and other legal disputes or regulatory inquiries that arise in the ordinary course of business. Any claims or regulatory actions against the Company and its affiliates, whether meritorious or not, could be time consuming and costly, and could divert significant operational resources. The outcomes of such matters are subject to inherent uncertainties, carrying the potential for unfavorable rulings that could include monetary damages and injunctive relief.
The Company does not believe, based on current knowledge, that any legal proceedings or claims currently exist which, after giving effect to existing accrued liabilities, are likely to have a material adverse effect on the Company’s consolidated financial position, results of operations, or cash flows. It is the Company’s policy to expense legal fees related to any litigation as incurred.
Non-Income Related Taxes
The Company believes that it has sufficiently reserved for historical sales tax liabilities under FASB ASC Topic No. 450, Contingencies, although some state and local taxing authorities may challenge the Company’s sales tax position, the methodology used to calculate the sales tax liability, and may also impose other taxes on its business. Taxing authorities may successfully assert that the Company should have collected, or in the future should collect sales and use, telecommunications or similar taxes, and could be subject to liability with respect to past or future tax, which could adversely affect the Company’s operating results. The Company will continue to review and monitor the impact of sales tax rules in order to mitigate any associated risks on its business.
v3.26.1
Other Balance Sheet Account Details
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Balance Sheet Account Details Other Balance Sheet Account Details
Prepaid expenses and other current assets
Prepaid expenses and other current assets consisted of the following (in thousands):
March 31, 2026December 31, 2025
Prepaid insurance$2,065 $2,830 
Prepaid income taxes4,036 5,484 
Prepaid marketing expense
651 4,067 
Prepaid software licenses
4,715 3,953 
Other prepaid expenses
1,712 2,092 
Other current assets351 362 
Total$13,530 $18,788 
Accounts payable and accrued expenses
Accounts payable and accrued expenses consisted of the following (in thousands):
March 31, 2026December 31, 2025
Accounts payable$10,506 $7,544 
Accrued sales and other taxes7,794 6,969 
Accrued interest12,705 7,349 
Accrued compensation5,629 9,614 
Accrued advertising expenses1,097 1,611 
Other accrued expenses
2,754 2,958 
Total$40,485 $36,045 
v3.26.1
Income Taxes
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company’s tax provision for interim periods is determined using an estimate of the Company’s annual effective tax rate adjusted for discrete interim period tax impacts. Each quarter the Company updates its estimated annual effective tax rate and, if the estimate changes, makes a cumulative adjustment. Changes in the geographical mix, permanent differences or the estimated level of annual pre-tax income can affect the effective tax rate. The Company’s effective tax rate for the three months ended March 31, 2026 and 2025 was 23.0% and 24.1%, respectively. The decrease in the Company’s effective income tax rate for the three months ended March 31, 2026 was primarily due to the impact of the One Big Beautiful Bill Act (“OBBBA”) changes on international taxes as well as research and development tax credits and a change in the geographical mix of income, partially offset by an increase in the officer’s compensation limitation.
The Company’s effective tax rates for the three months ended March 31, 2026 and 2025 differed from the U.S. federal statutory rates of 21% primarily as a result of state income taxes, certain expenses not deductible for tax purposes, foreign rate differential, foreign income inclusion, various tax credits and uncertain tax positions.
As of March 31, 2026 and December 31, 2025, the Company had $14.9 million and $14.5 million, respectively, in liabilities for uncertain income tax positions, including interest and penalties. Accrued interest and penalties related to unrecognized tax benefits are recognized in income tax expense on the Company’s Condensed Consolidated Statements of Income.
On July 4, 2025, the budget reconciliation bill H.R. 1, referred to as the OBBBA, was signed into law. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions, including modifications to capitalization of research and development expenses, limitations on deductions for interest expense and accelerated fixed asset depreciation. In addition to the OBBBA rules adopted in 2025, the Company implemented the new provisions effective for 2026 in the quarter ended March 31, 2026.
Income Tax Audits
The Company files tax returns in the U.S., Ireland, Canada, Japan, Netherlands and Hong Kong. In February 2026, the Company received notification of a review by the Irish tax authorities relating to tax years 2023 and 2024. As of March 31, 2026, the Company is not under audit in any other jurisdictions that it operates within. The U.S. federal and most state tax returns filed for 2022 onwards, as well as certain state returns filed for 2021 onwards, are still open to examination by tax authorities. With respect to the Company’s international subsidiaries, tax returns filed for the years from 2020 onwards are still open to examination by tax authorities.
v3.26.1
Stockholders' Equity
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Common Stock Repurchase Program
In March 2022, the Company’s Board of Directors approved a share buyback program. Under this program, the Company was authorized to purchase in the public market or in off-market transactions up to $100.0 million of the Company’s common stock through February 2025. In February 2025, the Company’s Board of Directors authorized and approved a three-year extension of the share repurchase program through February 2028. The program may end before this date if the maximum amount of repurchases has been reached or at the discretion of the Company’s Board of Directors. The timing and amounts of purchases are determined by the Company, depending on market conditions and other factors it deems relevant. Shares may be repurchased through open market purchases or privately negotiated transactions, including through Rule 10b5-1 trading plans. During the three months ended March 31, 2026, the Company repurchased 600,497 shares under this program at an aggregate cost of $17.2 million (inclusive of excise tax of $0.2 million). During the three months ended March 31, 2025, the Company repurchased 1,471 shares under this program for a minimal amount. Cumulatively as of March 31, 2026, 2,699,307 shares have been repurchased under this program at an aggregate cost of $72.6 million (inclusive of excise tax of $0.5 million). The excise tax is assessed at 1% of the fair market value of net stock repurchases after December 31, 2022.
Vested Restricted Stock
At the time of certain vesting events related to restricted stock units that are held by participants in Consensus’ Equity Incentive Plan, a portion of the awards subject to vesting are withheld by the Company to satisfy the employees’ tax
withholding obligations that arise upon the vesting of restricted stock. As a result, the number of shares issued upon vesting for these awards is net of the statutory withholding requirements that the Company pays on behalf of its employees. Although shares withheld are not issued, they are treated as common share repurchases in the Company’s condensed consolidated financial statements, as they reduce the number of shares that would have been issued upon vesting. These shares do not count against the authorized capacity under the Company’s share repurchase program described above. During the three months ended March 31, 2026 and 2025, the Company withheld shares on its vested restricted stock units relating to its share-based compensation plans of 24,759 shares and 13,477 shares, respectively.
Dividends
The Company currently does not issue dividends to Consensus shareholders. Future dividends are subject to Board approval. Our current debt agreements could trigger restrictions on dividend payments under certain circumstances (see Note 7 - Long-Term Debt).
v3.26.1
Equity Incentive Plan
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Equity Incentive Plan Equity Incentive Plan
The Company’s share-based compensation plans include the 2021 Equity Incentive Plan (the “2021 Plan”).
In December 2021, Consensus’ Board of Directors adopted the 2021 Plan, which provides for the grant of incentive stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares and share units and other share-based awards. Under the 2021 Plan, 4,000,000 shares of common stock are authorized to be granted. As of March 31, 2026, 359,941 shares were available to be used under the 2021 Plan.
During the three months ended March 31, 2026, the Company awarded 404,456 restricted stock units with market conditions and performance conditions to certain key employees pursuant to the 2021 Plan. The market-based awards have vesting conditions that are based on specified stock price targets of the Company’s common stock. For awards with market conditions, the conditions were factored into the grant date fair value using a Monte Carlo valuation model, which utilized multiple input variables to determine the probability of the Company achieving the specified average stock price targets over a 20 consecutive trading day period, based on the award agreement. For awards with performance-based conditions, these vesting conditions generally relate to the achievement of specified internal financial and operational targets. The grant date fair value for the performance-based awards reflects the Company’s stock price on the date of grant.
Restricted stock unit activity for the three months ended March 31, 2026 is set forth below:
Number of
Shares		Weighted-Average
Grant-Date
Fair Value
Outstanding at January 1, 20262,202,505$30.10 
Granted732,514 22.55 
Vested(64,758)28.45 
Canceled(196,885)43.62 
Outstanding at March 31, 2026
2,673,376 $27.08 
The total fair value as of the respective vesting dates of restricted stock units that vested during the three months ended March 31, 2026 and 2025 was $1.9 million and $0.8 million, respectively. As of March 31, 2026, the Company had unrecognized share-based compensation cost related to its restricted stock units of $45.2 million, which is expected to be recognized over a weighted-average period of 2.4 years.
The Company capitalized $0.7 million during both of the three months ended March 31, 2026 and 2025, within property and equipment, net on its Condensed Consolidated Balance Sheets.
v3.26.1
Earnings Per Share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):
Three Months Ended March 31,
20262025
Numerator for basic and diluted net income per common share:
Net income available to common shareholders from operations$24,685 $21,152 
Denominator:
Weighted-average outstanding shares of common stock 18,705,051 19,530,579 
Dilutive effect of:
Equity incentive plans330,364 155,786 
Employee Stock Purchase Plan5,812 4,457 
Common stock and common stock equivalents 19,041,227 19,690,822 
Net income per share from operations:
Basic$1.32 $1.08 
Diluted$1.30 $1.07 

For the three months ended March 31, 2026 and 2025, there were 872,198 and 982,400 anti-dilutive shares, respectively, that were excluded from the earnings per share calculation.
v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The following presents the segment information of Cloud Fax (in thousands):
 Three Months Ended March 31,
 20262025
Revenues$88,467 $87,138 
Less:
Salary and benefits20,802 19,951 
Marketing5,856 5,032 
Phone operations3,691 4,235 
Outside services3,657 3,836 
Depreciation and amortization4,898 5,178 
Other segment items (1)
11,821 11,409 
Segment operating profit37,742 37,497 
Interest expense(7,763)(8,976)
Interest income661 451 
Other income (expense), net (2)
1,416 (1,097)
Segment earnings before income taxes32,056 27,875 
Income tax expense7,371 6,723 
Segment net income$24,685 $21,152 
(1) Other segment items includes: database hosting expenses, computer and related expenses, processing fees, bad debt expense, taxes and insurance expenses, office expenses, travel and entertainment expenses, other administrative expenses and miscellaneous expenses.
(2) Other income (expense), net includes: gain/loss on foreign currency exchange and miscellaneous income/expense.
The Company maintains operations in the U.S., Canada, Ireland and other countries. Geographic information about the U.S. and all other countries for the reporting periods is presented below. Such information attributes revenues based on markets where revenues are reported (in thousands):
Three Months Ended March 31,
20262025
Revenues:
United States$69,643 $68,756 
Canada14,183 13,623 
Ireland2,642 2,702 
All other countries1,999 2,057 
Foreign countries18,824 18,382 
Total
$88,467 $87,138 
As of March 31, 2026 and December 31, 2025, substantially all of the Company’s long-lived assets, which consist of property and equipment, net and operating lease right-of-use assets, were located in the United States
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Principles of Consolidation
Principles of Consolidation
The accompanying interim condensed consolidated financial statements include the accounts of Consensus and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Basis of Presentation
Basis of Presentation
The accompanying interim condensed consolidated financial statements are unaudited and have been prepared in accordance with instructions for Form 10-Q and Article 10 of Regulation S-X issued by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and note disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. The Company believes that the disclosures made are adequate to make that information not misleading. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for the fair statement of these interim financial statements have been reflected. It is suggested that these financial statements be read in conjunction with the audited financial statements and the related notes thereto for the year ended December 31, 2025, included in our Annual Report (Form 10-K) filed with the SEC on February 13, 2026. Accordingly, significant accounting policies and other disclosures normally provided have been omitted since such items are disclosed therein.
The results of operations for this interim period are not necessarily indicative of the operating results for the full year or for any future period.
Use of Estimates
Use of Estimates
The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, including judgments about the reported amounts of revenue and expenses during the reporting period. The Company believes that its most significant estimates are those related to revenue recognition, internal-use software development costs, share-based compensation expense, income taxes and tax contingencies. On an ongoing basis, management evaluates its estimates based on historical experience and on various other factors that the Company believes to be reasonable under the circumstances. Actual results could materially differ from those estimates due to risks and uncertainties, including uncertainty in the current economic environment due to factors such as inflationary pressures and elevated interest rates.
Significant Accounting Policies
There have been no material changes to our significant accounting policies from our Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
Segment Reporting
Segment Reporting
FASB ASC Topic No. 280, Segment Reporting (“ASC 280”), establishes standards for the way that public business entities report information about reportable segments in their annual consolidated financial statements and requires that those
entities report selected information about reportable segments in interim financial reports. ASC 280 also establishes standards for related disclosures about products and services, geographic areas and major customers. The Company’s business segment is based on the organization’s structure used by the chief operating decision maker (“CODM”), who is our chief executive officer (“CEO”), for making operating and investment decisions and for assessing performance. The Company’s CEO reviews financial information presented on a consolidated basis for purposes of assessing performance and making decisions on how to allocate resources. The CEO uses consolidated profit or loss from operations before interest and income taxes to allocate resources predominantly in the annual budget and forecasting process. The CEO considers budget-to-actual variances on a monthly basis when making decisions about allocating capital and personnel. The CEO also uses consolidated profit or loss from operations before interest and income taxes and consolidated net income to assess performance. Accordingly, the Company has determined that it operates one reportable segment known as Cloud Fax (see Note 14 - Segment Information). The condensed consolidated financial statements and related disclosures reflect the segment operations of Cloud Fax.
Reclassifications
Reclassifications
Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.
Recent Accounting Pronouncements Recent Accounting Pronouncements
In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). The amendments in this ASU provide a practical expedient permitting an entity to assume that conditions at the balance sheet date remain unchanged over the life of the asset when estimating expected credit losses for current accounts receivable and current contract assets. The amendments in this ASU should be applied on a prospective basis. The amendments in this ASU are effective for annual periods beginning after December 15, 2025, and for interim periods within those annual periods. Early adoption is permitted. The Company adopted the provisions of ASU 2025-05 in the first quarter of 2026 and elected to apply the practical expedient. ASU 2025-05 did not materially impact our consolidated financial statements upon adoption.
Revenue Recognition
The Company earns revenue from contracts with customers, primarily through the provision of cloud-based communication and digital signature solutions that allow customers to access the Company’s software without taking possession. The contracts include both recurring subscription and usage-based fees, and the total transaction price is allocated to performance obligations in each contract as appropriate. Revenue for cloud-based services is recognized over time in the period earned. The contracts may be terminated early. Fees collected in advance are non-refundable, and they are deferred and recognized in revenue when the related performance obligations are satisfied. Standard Corporate contracts billed monthly include a termination charge equal to the minimum fees payable through the last day of the contract term.
Performance Obligations
Generally, the Company’s contracts with customers include one performance obligation, however, certain contracts may include multiple performance obligations. For such arrangements, revenues are allocated to each performance obligation based on their relative standalone selling price.
The Company satisfies its performance obligations upon delivery of products or services to its customers. Payment terms vary by type and location of the Company’s customers and the products and services offered. The time between invoicing and when payment is due is not significant. Due to the nature of the services provided, there are no obligations for returns.
Significant Judgments
Determining whether products and services are considered distinct performance obligations may require significant judgment. When a contract includes both on-premises software licenses and cloud-based services, judgment is required to determine whether the software license is considered distinct and accounted for separately, or not distinct and accounted for together with the cloud-based service and recognized over time.
Judgment is also required to determine the standalone selling price for each distinct performance obligation when there are multiple performance obligations. In certain cases, the Company is able to establish the standalone selling price based on observable prices of products or services sold or priced separately in comparable circumstances to similar customers. The Company uses a range of amounts to estimate the standalone selling price when each of the products and services is sold separately to determine whether there is a discount to be allocated based on the relative standalone selling price of the various products and services.
Performance Obligations Satisfied Over Time
The Company’s business consists primarily of performance obligations that are satisfied over time based on the fact that the nature of the cloud-based services offered is subscription based where the customer simultaneously receives and consumes the benefit of the services provided regardless of whether the customer uses the services or not. Depending on the individual contracts with the customer, revenue for these services is recognized over the contract period when services are provided. The Company expects to recognize revenue for Corporate contracts typically in a range from month-to-month up to 36 months and recognize revenue for SoHo contracts in a range from month-to-month up to one year. Revenue from usage-based fees is recognized in proportion to the amount for which the Company has the right to invoice for services performed, which corresponds with the utilization of the services by the customer.
The Company has concluded that the best measure of progress toward the complete satisfaction of the performance obligations over time is a time-based measure. The Company recognizes revenue on a straight-line basis throughout the subscription period and believes that the method used is a faithful depiction of the transfer of goods and services.
Practical Expedients
Existence of a Significant Financing Component in a Contract
As a practical expedient, the Company has not assessed whether a contract has a significant financing component because the Company expects at contract inception that the period between payment by the customer and the transfer of promised goods or services by the Company to the customer will be one year or less. In addition, the Company has determined that the payment terms the Company provides to its customers are structured primarily for reasons other than the provision of finance to the Company. The Company typically charges an upfront subscription amount for services, or an amount for usage in arrears, or a combination thereof, as other payment terms would affect the nature of the risk assumed by the Company due to the costs of the customer acquisition and the highly competitive and commoditized nature of the business the Company operates.
Costs to Obtain a Contract
The Company’s revenues are primarily generated from customer contracts that are for one year or less. Costs primarily consist of incentive compensation paid based on the achievements of sales targets in a given period for related revenue streams and are recognized in the month when the revenue is earned. Incentive compensation is paid upon the issuance or renewal of the
customer contract. As a practical expedient, for amortization periods that are determined to be one year or less, the Company expenses any incremental costs of obtaining the contract with a customer when incurred. For those customer contracts greater than one year, the Company capitalizes and amortizes the expenses, when appropriate, over the period of benefit.
Revenues Invoiced
The Company has applied the practical expedient for certain revenue streams to exclude the value of remaining performance obligations for (i) contracts with an original expected term of one year or less or (ii) contracts for which the Company recognizes revenue in proportion to the amount it has the right to invoice for services performed.
Fair Value Measurements
The Company complies with the provisions of FASB ASC Topic No. 820, Fair Value Measurement, (“ASC 820”), which defines fair value, provides a framework for measuring fair value and expands the disclosures required for fair value measurements of financial and non-financial assets and liabilities. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:
§Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
§Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
§Level 3 – Unobservable inputs which are supported by little or no market activity.
The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. Cash and cash equivalents include money market funds of $57.1 million and $65.1 million as of March 31, 2026 and December 31, 2025, respectively, which are valued based on Level 1 inputs consisting of quoted prices in active markets. The carrying value of the Company’s cash and cash equivalents approximates fair value.
The fair value of fixed interest rate long-term debt is determined using recent quoted market prices or dealer quotes for each of the Company’s instruments, which are Level 1 inputs (see Note 7 - Long-Term Debt). The carrying value of long-term debt is reflected in the financial statements at cost.
Assets Measured on a Non-Recurring Basis
The Company’s non-financial assets, which primarily consist of goodwill, indefinite-lived intangible assets, long-lived assets and equity securities without a readily determinable fair value are reported at carrying value, or at fair value as of their acquisition dates, and are not required to be measured at fair value on a recurring basis. However, if any of these types of assets become impaired, the carrying values of the assets are written down to fair value using Level 3 inputs.
v3.26.1
Revenues (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Revenues from external customers classified by revenue source are as follows (in thousands):
Three Months Ended March 31,
20262025
Revenues
Corporate$58,722 $54,289 
Small office home office (“SoHo”)29,745 32,849 
Total
$88,467 $87,138 
Timing of revenue recognition
Point in time$427 $643 
Over time88,040 86,495 
Total$88,467 $87,138 
v3.26.1
Property and Equipment (Tables)
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Property and equipment, stated at cost, consisted of the following (in thousands):
March 31, 2026December 31, 2025
Internal-use software development costs
$120,285 $99,961 
Computers, software and equipment
19,466 19,504 
Furniture and fixtures
890 892 
Leasehold improvements1,722 1,724 
Internal-use software development costs in process
55,312 67,400 
197,675 189,481 
Less: Accumulated depreciation and amortization(76,886)(72,612)
 Total property and equipment, net$120,789 $116,869 
v3.26.1
Goodwill and Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amounts of Goodwill
The changes in carrying amounts of goodwill for the three months ended March 31, 2026 are as follows (in thousands):
Amount
Balance as of January 1, 2026
$352,939 
Foreign exchange translation(1,642)
Balance as of March 31, 2026$351,297 
Intangible Assets with Indefinite Lives
Intangible assets are summarized as follows (in thousands):
March 31, 2026December 31, 2025
Trade names$27,400 $27,422 
Other4,045 4,045 
Total$31,445 $31,467 
Intangible Assets Subject to Amortization
As of March 31, 2026, intangible assets subject to amortization are summarized as follows (in thousands):
Weighted-Average Remaining
  Amortization
Period
Historical
Cost		Accumulated
Amortization		Net
Trade names0.1 years$8,260 $8,141 $119 
Patent and patent licenses0.0 years54,341 54,341 — 
Customer relationships (1)
1.5 years109,173 103,585 5,588 
Other purchased intangibles 1.0 year11,913 10,856 1,057 
Total
 $183,687 $176,923 $6,764 
(1) The Company amortizes its customer relationship assets in a pattern that best reflects the pace in which the assets’ benefits are consumed. This pattern results in a substantial majority of the amortization expense being recognized in the first four to five years, which may not correlate to the overall life of the asset.
    As of December 31, 2025, intangible assets subject to amortization are summarized as follows (in thousands):
Weighted-Average Remaining
  Amortization
Period
Historical
Cost		Accumulated
Amortization		Net
Trade names0.1 years$8,299 $8,148 $151 
Patent and patent licenses0.0 years54,341 54,341 — 
Customer relationships (1)
1.6 years109,663 103,616 6,047 
Other purchased intangibles 1.0 year11,917 10,821 1,096 
Total$184,220 $176,926 $7,294 
(1) The Company amortizes its customer relationship assets in a pattern that best reflects the pace in which the assets’ benefits are consumed. This pattern results in a substantial majority of the amortization expense being recognized in the first four to five years, which may not correlate to the overall life of the asset.
Estimated Intangible Assets Amortization Expense
Expected amortization expenses for intangible assets subject to amortization at March 31, 2026 are as follows (in thousands):
Fiscal Year:Amount
2026 (remainder)
$1,577 
2027
1,405 
2028
986 
2029
803 
2030
651 
Thereafter1,342 
Total$6,764 
v3.26.1
Long-Term Debt (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Summary of Long-term Debt
Long-term debt consists of the following, terms defined below (in thousands):
March 31, 2026December 31, 2025
2028 Senior Notes$348,247 $348,247 
DDTL Facility
148,125 150,000 
Revolving Credit Facility
64,000 64,000 
Total
560,372 562,247 
Less: deferred issuance costs
(3,545)(3,878)
Total debt
556,827 558,369 
Less: current portion, net of debt issuance costs
(7,046)(7,047)
Total long-term debt, less current portion
$549,781 $551,322 
Future Principal Payments for Debt
As of March 31, 2026, future contractual principal payments for debt were as follows (in thousands):
Fiscal year:Total
2026 (remainder)
$5,625 
2027
7,500 
2028
547,247 
2029
— 
2030
— 
Thereafter— 
Total$560,372 
v3.26.1
Other Balance Sheet Account Details (Tables)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
March 31, 2026December 31, 2025
Prepaid insurance$2,065 $2,830 
Prepaid income taxes4,036 5,484 
Prepaid marketing expense
651 4,067 
Prepaid software licenses
4,715 3,953 
Other prepaid expenses
1,712 2,092 
Other current assets351 362 
Total$13,530 $18,788 
Schedule of Accounts Payable and Accrued Liabilities
Accounts payable and accrued expenses consisted of the following (in thousands):
March 31, 2026December 31, 2025
Accounts payable$10,506 $7,544 
Accrued sales and other taxes7,794 6,969 
Accrued interest12,705 7,349 
Accrued compensation5,629 9,614 
Accrued advertising expenses1,097 1,611 
Other accrued expenses
2,754 2,958 
Total$40,485 $36,045 
v3.26.1
Equity Incentive Plan (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Restricted Stock Unit Award Activity
Restricted stock unit activity for the three months ended March 31, 2026 is set forth below:
Number of
Shares		Weighted-Average
Grant-Date
Fair Value
Outstanding at January 1, 20262,202,505$30.10 
Granted732,514 22.55 
Vested(64,758)28.45 
Canceled(196,885)43.62 
Outstanding at March 31, 2026
2,673,376 $27.08 
v3.26.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Components of Basic and Diluted Earnings Per Share
The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):
Three Months Ended March 31,
20262025
Numerator for basic and diluted net income per common share:
Net income available to common shareholders from operations$24,685 $21,152 
Denominator:
Weighted-average outstanding shares of common stock 18,705,051 19,530,579 
Dilutive effect of:
Equity incentive plans330,364 155,786 
Employee Stock Purchase Plan5,812 4,457 
Common stock and common stock equivalents 19,041,227 19,690,822 
Net income per share from operations:
Basic$1.32 $1.08 
Diluted$1.30 $1.07 
v3.26.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following presents the segment information of Cloud Fax (in thousands):
 Three Months Ended March 31,
 20262025
Revenues$88,467 $87,138 
Less:
Salary and benefits20,802 19,951 
Marketing5,856 5,032 
Phone operations3,691 4,235 
Outside services3,657 3,836 
Depreciation and amortization4,898 5,178 
Other segment items (1)
11,821 11,409 
Segment operating profit37,742 37,497 
Interest expense(7,763)(8,976)
Interest income661 451 
Other income (expense), net (2)
1,416 (1,097)
Segment earnings before income taxes32,056 27,875 
Income tax expense7,371 6,723 
Segment net income$24,685 $21,152 
(1) Other segment items includes: database hosting expenses, computer and related expenses, processing fees, bad debt expense, taxes and insurance expenses, office expenses, travel and entertainment expenses, other administrative expenses and miscellaneous expenses.
(2) Other income (expense), net includes: gain/loss on foreign currency exchange and miscellaneous income/expense.
Revenues and Long-lived Assets by Geographic Information Geographic information about the U.S. and all other countries for the reporting periods is presented below. Such information attributes revenues based on markets where revenues are reported (in thousands):
Three Months Ended March 31,
20262025
Revenues:
United States$69,643 $68,756 
Canada14,183 13,623 
Ireland2,642 2,702 
All other countries1,999 2,057 
Foreign countries18,824 18,382 
Total
$88,467 $87,138 
v3.26.1
Basis of Presentation (Details)
 3 Months Ended
Mar. 31, 2026
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of reportable segments 1
v3.26.1
Revenues (Disaggregation of Revenue) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of Revenue [Line Items]    
Revenues $ 88,467 $ 87,138
Point in time    
Disaggregation of Revenue [Line Items]    
Revenues 427 643
Over time    
Disaggregation of Revenue [Line Items]    
Revenues 88,040 86,495
Corporate    
Disaggregation of Revenue [Line Items]    
Revenues 58,722 54,289
Small office home office (“SoHo”)    
Disaggregation of Revenue [Line Items]    
Revenues $ 29,745 $ 32,849
v3.26.1
Revenues (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of Revenue [Line Items]    
Contract liability, revenue recognized $ 9.0 $ 9.5
Corporate | Maximum    
Disaggregation of Revenue [Line Items]    
Revenue, remaining performance obligation, expected timing of satisfaction, period 36 months  
Small office home office (“SoHo”) | Maximum    
Disaggregation of Revenue [Line Items]    
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year  
v3.26.1
Fair Value Measurements (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Fair Value Disclosures [Abstract]    
Money market funds $ 57.1 $ 65.1
Carrying amount of investments accounted for using alternative method $ 8.0 $ 8.0
v3.26.1
Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 197,675 $ 189,481
Less: Accumulated depreciation and amortization (76,886) (72,612)
Property and equipment, net 120,789 116,869
Internal-use software development costs    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 120,285 99,961
Computers, software and equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 19,466 19,504
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 890 892
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 1,722 1,724
Internal-use software development costs in process    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 55,312 $ 67,400
v3.26.1
Property and Equipment (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Property, Plant and Equipment [Abstract]    
Depreciation and amortization expense $ 4,400,000 $ 4,500,000
Impairment $ 0 $ 0
v3.26.1
Goodwill and Intangible Assets (Changes in Carrying Amounts of Goodwill) (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 352,939
Foreign exchange translation (1,642)
Ending balance $ 351,297
v3.26.1
Goodwill and Intangible Assets (Narrative) (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]    
Goodwill accumulated impairment $ 0  
Amortization expense 500,000 $ 700,000
Impairment of intangible assets $ 0 $ 0
v3.26.1
Goodwill and Intangible Assets (Intangible Assets with Indefinite Lives) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Indefinite-lived Intangible Assets [Line Items]    
Intangible assets $ 31,445 $ 31,467
Trade names    
Indefinite-lived Intangible Assets [Line Items]    
Intangible assets 27,400 27,422
Other    
Indefinite-lived Intangible Assets [Line Items]    
Intangible assets $ 4,045 $ 4,045
v3.26.1
Goodwill and Intangible Assets (Intangible Assets Subject to Amortization) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]    
Historical Cost $ 183,687 $ 184,220
Accumulated Amortization 176,923 176,926
Net $ 6,764 $ 7,294
Trade names    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining   Amortization Period 1 month 6 days 1 month 6 days
Historical Cost $ 8,260 $ 8,299
Accumulated Amortization 8,141 8,148
Net $ 119 $ 151
Patent and patent licenses    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining   Amortization Period 0 years 0 years
Historical Cost $ 54,341 $ 54,341
Accumulated Amortization 54,341 54,341
Net $ 0 $ 0
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining   Amortization Period 1 year 6 months 1 year 7 months 6 days
Historical Cost $ 109,173 $ 109,663
Accumulated Amortization 103,585 103,616
Net $ 5,588 $ 6,047
Customer relationships | Minimum    
Finite-Lived Intangible Assets [Line Items]    
Substantial amortization period, majority of amortization expense 4 years 4 years
Customer relationships | Maximum    
Finite-Lived Intangible Assets [Line Items]    
Substantial amortization period, majority of amortization expense 5 years 5 years
Other purchased intangibles    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining   Amortization Period 1 year 1 year
Historical Cost $ 11,913 $ 11,917
Accumulated Amortization 10,856 10,821
Net $ 1,057 $ 1,096
v3.26.1
Goodwill and Intangible Assets (Estimated Intangible Assets Amortization Expense) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Fiscal Year:    
2026 (remainder) $ 1,577  
2027 1,405  
2028 986  
2029 803  
2030 651  
Thereafter 1,342  
Net $ 6,764 $ 7,294
v3.26.1
Long-Term Debt (Summary of Long-term Debt) (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Gross long-term debt $ 560,372  
Less: deferred issuance costs (3,545) $ (3,878)
Total debt 556,827 558,369
Less: current portion, net of debt issuance costs (7,046) (7,047)
Long-term debt, net of current portion 549,781 551,322
Senior Notes    
Debt Instrument [Line Items]    
Gross long-term debt 560,372 562,247
Line of Credit | Revolving Credit Facility    
Debt Instrument [Line Items]    
Gross long-term debt 64,000 64,000
2028 Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Gross long-term debt $ 348,247 $ 348,247
v3.26.1
Long-Term Debt (Narrative) (Details) - USD ($)
 3 Months Ended
Nov. 09, 2023
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Jul. 09, 2025
Oct. 07, 2021
Debt Instrument [Line Items]            
Interest expense   $ 1,100,000 $ 800,000      
Debt repurchase program, principal reduction amount $ 300,000,000          
Principal retired   0 9,700,000      
Reclassified amount of long term debt   7,046,000   $ 7,047,000    
Net (loss) gain on debt extinguishment   0 $ (77,000)      
Gross long-term debt   560,372,000        
Senior Notes            
Debt Instrument [Line Items]            
Retired debt, principal   222,600,000        
Senior Notes            
Debt Instrument [Line Items]            
Gross long-term debt   560,372,000   562,247,000    
Senior Notes | 2028 Notes            
Debt Instrument [Line Items]            
Notes payable, fair value   $ 344,800,000   349,100,000    
Debt instrument, face amount           $ 500,000,000.0
Stated interest rate           6.50%
Covenant, leverage ratio, minimum           3.0
Covenant, leverage ratio, maximum           3.0
Covenant, restriction on payments, aggregate amount, maximum           $ 100,000,000.0
Covenant, earnings before interest, taxes, depreciation, and amortization, maximum           50.00%
Line of Credit            
Debt Instrument [Line Items]            
Weighted average interest rate   5.40%        
Line of Credit | Revolving Credit Facility            
Debt Instrument [Line Items]            
Line of credit facility, maximum borrowing capacity         $ 75,000,000.0  
Debt issuance costs   $ 600,000        
Gross long-term debt   64,000,000   64,000,000    
Line of Credit | 2025 Credit Facility            
Debt Instrument [Line Items]            
Debt issuance costs   $ 1,100,000        
Debt instrument, basis spread on variable rate   1.25%        
Line of Credit | 2025 Credit Facility | Minimum | Base Rate            
Debt Instrument [Line Items]            
Debt instrument, basis spread on variable rate   0.50%        
Line of Credit | 2025 Credit Facility | Minimum | Secured Overnight Financing Rate (SOFR)            
Debt Instrument [Line Items]            
Debt instrument, basis spread on variable rate   1.50%        
Line of Credit | 2025 Credit Facility | Maximum | Base Rate            
Debt Instrument [Line Items]            
Debt instrument, basis spread on variable rate   1.25%        
Line of Credit | 2025 Credit Facility | Maximum | Secured Overnight Financing Rate (SOFR)            
Debt Instrument [Line Items]            
Debt instrument, basis spread on variable rate   2.25%        
Line of Credit | 2025 Credit Facility | DDTL Facility            
Debt Instrument [Line Items]            
Debt instrument, face amount         $ 150,000,000.0  
Debt issuance costs   $ 1,700,000        
Gross long-term debt   $ 148,125,000   $ 150,000,000    
v3.26.1
Long-Term Debt (Future Principal Payments for Debt) (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Debt Disclosure [Abstract]  
2026 (remainder) $ 5,625
2027 7,500
2028 547,247
2029 0
2030 0
Thereafter 0
Total $ 560,372
v3.26.1
Other Balance Sheet Account Details -Schedule of Other Current Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Prepaid insurance $ 2,065 $ 2,830
Prepaid income taxes 4,036 5,484
Prepaid marketing expense 651 4,067
Prepaid software licenses 4,715 3,953
Other prepaid expenses 1,712 2,092
Other current assets 351 362
Prepaid expenses and other current assets $ 13,530 $ 18,788
v3.26.1
Other Balance Sheet Account Details - Accounts Payable and Accrued Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Accounts payable $ 10,506 $ 7,544
Accrued sales and other taxes 7,794 6,969
Accrued interest 12,705 7,349
Accrued compensation 5,629 9,614
Accrued advertising expenses 1,097 1,611
Other accrued expenses 2,754 2,958
Total $ 40,485 $ 36,045
v3.26.1
Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Income Tax Disclosure [Abstract]      
Effective income tax rate 23.00% 24.10%  
Liability for uncertain income tax positions $ 14,876   $ 14,484
v3.26.1
Stockholders' Equity (Details)
 1 Months Ended 3 Months Ended 49 Months Ended
Feb. 28, 2025
Mar. 31, 2026
USD ($)
shares
Mar. 31, 2025
shares
Mar. 31, 2026
USD ($)
shares
Mar. 31, 2022
USD ($)
Stockholder's Equity [Line Items]          
Stock repurchase program, authorized amount         $ 100,000,000.0
Share repurchase program, extension term 3 years        
Stock repurchased during period, shares (in shares) | shares   600,497 1,471 2,699,307  
Aggregate cost for repurchase of common stock   $ 17,200,000   $ 72,600,000  
Sales and excise tax payable   $ 200,000   $ 500,000  
Excise tax rate       0.01  
Common stock          
Stockholder's Equity [Line Items]          
Share-based payment arrangement, shares withheld for tax withholding obligation (in shares) | shares   24,759 13,477    
v3.26.1
Equity Incentive Plan (Narrative) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Consecutive trading days 20 days    
Share-based payment arrangement, amount capitalized $ 0.7 $ 0.7  
Restricted Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Granted (in shares) 732,514    
Vest date fair value $ 1.9 $ 0.8  
Unrecognized compensation cost related to non-vested awards granted $ 45.2    
Weighted-average period to recognize compensation cost 2 years 4 months 24 days    
Market-Based And Performance-Based Restricted Stock Awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Granted (in shares) 404,456    
Equity Incentive Plan 2021      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Maximum issuance of common stock (in shares) 359,941   4,000,000
v3.26.1
Equity Incentive Plan (Restricted Stock and Restricted Stock Unit Award Activity) (Details) - Restricted Stock Units
 3 Months Ended
Mar. 31, 2026
$ / shares
shares
Number of Shares  
Beginning of period (in shares) | shares 2,202,505
Granted (in shares) | shares 732,514
Vested (in shares) | shares (64,758)
Canceled (in shares) | shares (196,885)
End of period (in shares) | shares 2,673,376
Weighted-Average Grant-Date Fair Value  
Nonvested at beginning of period (in dollars per share) | $ / shares $ 30.10
Granted (in dollars per share) | $ / shares 22.55
Vested (in dollars per share) | $ / shares 28.45
Canceled (in dollars per share) | $ / shares 43.62
Nonvested at end of period (in dollars per share) | $ / shares $ 27.08
v3.26.1
Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Numerator for basic and diluted net income per common share:    
Net income available to common shareholders from operations, diluted $ 24,685 $ 21,152
Net income available to common shareholders from operations, basic $ 24,685 $ 21,152
Denominator:    
Weighted-average outstanding shares of common stock (in shares) 18,705,051 19,530,579
Dilutive effect of:    
Common stock and common stock equivalents (in shares) 19,041,227 19,690,822
Net income per share from operations:    
Basic (in dollars per share) $ 1.32 $ 1.08
Diluted (in dollars per share) $ 1.30 $ 1.07
Anti-dilutive shares were excluded from earnings per share calculation (in shares) 872,198 982,400
Equity incentive plans    
Dilutive effect of:    
Equity incentive plans (in shares) 330,364 155,786
Employee Stock Purchase Plan    
Dilutive effect of:    
Equity incentive plans (in shares) 5,812 4,457
v3.26.1
Segment Information - Segment Information by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Segment Reporting Information [Line Items]    
Income from operations $ 37,742 $ 37,497
Interest expense (7,763) (8,976)
Interest income 661 451
Other income (expense), net 1,416 (1,097)
Segment earnings before income taxes 32,056 27,875
Income tax expense 7,371 6,723
Reportable Segment    
Segment Reporting Information [Line Items]    
Revenues 88,467 87,138
Salary and benefits 20,802 19,951
Marketing 5,856 5,032
Phone operations 3,691 4,235
Outside services 3,657 3,836
Depreciation and amortization 4,898 5,178
Other segment items 11,821 11,409
Income from operations 37,742 37,497
Interest expense (7,763) (8,976)
Interest income 661 451
Other income (expense), net 1,416 (1,097)
Segment earnings before income taxes 32,056 27,875
Income tax expense 7,371 6,723
Income from continuing operations $ 24,685 $ 21,152
v3.26.1
Segment Information (Revenues and Long-lived Assets by Geographic Information) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenues $ 88,467 $ 87,138
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenues 69,643 68,756
Canada    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenues 14,183 13,623
Ireland    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenues 2,642 2,702
All other countries    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenues 1,999 2,057
Foreign countries    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Revenues $ 18,824 $ 18,382