Business Combinations |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| Business Combinations | Business Combinations TransactPay The Company completed its acquisition of TransactPay on July 31, 2025. See Note 4, “Business Combinations,” to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 for additional information regarding this acquisition. There have been no changes to the purchase price or the allocation of purchase price since December 31, 2025. The measurement period for the acquisition remains open as of March 31, 2026. No measurement period adjustments were recognized during the three months ended March 31, 2026. Contingent Consideration As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, the acquisition of TransactPay included two earn-out arrangements (the “Regulatory Improvement Earn-out” of $2.3 million and the “Digital Products Earn-out” of up to $3.4 million) payable upon satisfaction of specified post-closing performance conditions. The digital products relate to an emerging line of business that was not part of TransactPay’s core operations at the time of acquisition. The accruals for both earn-outs are included as part of accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets. As of December 31, 2025, the Company had accrued approximately $2.3 million for the Regulatory Improvement Earn-out and approximately $1.3 million for the Digital Products Earn-out based on the facts available at that time. The Regulatory Improvement Earn-out liability remained unchanged at approximately $2.3 million as of March 31, 2026. During the three months ended March 31, 2026, the Company remeasured the Digital Products Earn-out liability based on updated gross profit information, reducing the accrual by $0.9 million. This reduction was recognized as a gain in Other income, net in the Condensed Consolidated Statement of Operations and Comprehensive Income (Loss). The revised total earn-out of approximately $2.7 million, which comprises $2.3 million related to the Regulatory Improvement Earn-out and $0.4 million related to Digital Products Earn-out, was paid in April 2026.
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