0001193125-21-265621 | S-1/A | XBRL Viewer | CCC Intelligent Solutions Holdings INC

Basis of Presentation and Nature of Operations

1.	BASIS OF PRESENTATION AND NATURE OF OPERATIONS

Basis of Presentation

—The condensed consolidated balance sheet as of June 30, 2021 and December 31, 2020, the condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2021 and 2020, the condensed consolidated statements of mezzanine equity and stockholders’ equity for the three and six months ended June 30, 2021 and 2020, and the condensed consolidated statements of cash flows for the six months ended June 30, 2021 and 2020 have been prepared by the Company and have not been audited. In the opinion of management, all adjustments (which include only normal recurring adjustments except where disclosed) necessary for the fair presentation of the financial position, results of operation and cash flows have been made. The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year.

The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Proxy Statement/Prospectus filed on July 6, 2021 by Dragoneer Growth Opportunities Corp. (“Dragoneer”).

Company Formation

—In April 2017, Cypress Holdings, Inc. (the “Company” or “Cypress Holdings”), a corporation organized by affiliates of Advent International Inc. (“Advent”), through its wholly owned subsidiaries, Cypress Holdings Intermediate Holdings I, Inc., Cypress Holdings Intermediate Holdings II, Inc., and Cypress Merger Sub, Inc. acquired all the outstanding shares and all other assets and liabilities related to the business of Jaguar Holdings Inc. (“Jaguar Holdings”) (the “Acquisition”). In connection with the Acquisition, Cypress Merger Sub, Inc., the surviving corporation, was renamed Cypress Intermediate Holdings III, Inc. (“Cypress Intermediate”). Subsequently, Cypress Intermediate and Jaguar Intermediate Holdings Inc. merged with and into CCC Information Services Inc., the operating company, with CCC Information Services Inc. continuing after the merger as the surviving corporation.

Effective June 1, 2021, the Company’s wholly-owned subsidiary changed its corporate name from CCC Information Services Inc. to CCC Intelligent Solutions Inc. (“CCC”).

On February 2, 2021, the Company entered into a merger agreement (the “Merger”) with Dragoneer, a Special Purpose Acquisition Company. The Merger with Dragoneer provided all holders of the Company’s common stock with common stock of the continuing public company, Dragoneer. The Merger was completed on July 30, 2021 (see Note 26).

Nature of Operations

—The Company is headquartered in Chicago, Illinois. The Company’s primary operations are in the United States (“US”) and it also has operations in China.

The Company is a leading provider of innovative cloud, mobile, telematics, hyperscale technologies, and applications for the property and casualty (“P&C”) insurance economy. Our cloud-based software as a service (“SaaS”) platform connects trading partners, facilitates commerce, and supports mission-critical, artificial intelligence enabled digital workflows. Our platform digitizes workflows and connects companies across the P&C insurance economy, including insurance carriers, collision repairers, parts suppliers, automotive manufacturers, financial institutions, and others.

Risk and Uncertainties—

In March 2020, the World Health Organization declared the outbreak of the new strain of the coronavirus

(“COVID-19”)

to be a pandemic. The

COVID-19

pandemic is having widespread, rapidly evolving, and unpredictable impacts on global society, economies, financial markets, and business practices. Federal and state governments have implemented measures in an effort to contain the virus, including social distancing, travel restrictions, border closures, limitations on public gatherings, work from home, supply chain logistical changes, and closure of

non-essential

businesses. To protect the health and well-being of its employees, suppliers, and customers, the Company has made substantial modifications to employee travel policies, implemented office closures as employees are advised to work from home, and cancelled or shifted its conferences and other marketing events to virtual-only through the date the financial statements were issued. The

COVID-19

pandemic has impacted and may continue to impact our business operations, including our employees, customers, partners, and communities, and there is substantial uncertainty in the nature and degree of its continued effects over time.

COVID-19

and other similar outbreaks, epidemics or pandemics could have a material adverse effect on the Company’s business, financial condition, results of operations, cash flows and prospects as a result of any of the risks described above and other risks that the Company is not able to predict.

1.	BASIS OF PRESENTATION AND NATURE OF OPERATIONS

Basis of Presentation

—In April 2017, Cypress Holdings, Inc. (the “Company” or “Cypress Holdings”), a corporation organized by affiliates of Advent International Inc. (“Advent”), through its wholly owned subsidiaries, Cypress Holdings Intermediate Holdings I, Inc., Cypress Holdings Intermediate Holdings II, Inc., and Cypress Merger Sub, Inc. acquired all the outstanding shares and all other assets and liabilities related to the business of Jaguar Holdings Inc. (“Jaguar Holdings”) (the “Acquisition”). In connection with the Acquisition, Cypress Merger Sub, Inc., the surviving corporation, was renamed Cypress Intermediate Holdings III, Inc. (“Cypress Intermediate”). Subsequently, Cypress Intermediate and Jaguar Intermediate Holdings Inc. merged with and into CCC Information Services Inc. (“CCC”), the operating company, with CCC continuing after the merger as the surviving corporation.

Nature of Operations

—The Company is headquartered in Chicago, Illinois. The Company’s primary operations are in the United States (“US”) and it also has operations in China.

Risk and Uncertainties—

In March 2020, the World Health Organization declared the outbreak of the new strain of the coronavirus

(“COVID-19”)

to be a pandemic. The

COVID-19

non-essential

COVID-19

Restatement of Previously Issued Financial Statements

6 Months Ended

Dec. 31, 2020

Restatement Of Previously Issued Financial Statements [Abstract]

Restatement of Previously Issued Financial Statements

NOTE 2 — RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

The Company previously accounted for its outstanding Public Warrants (as defined in Note 4) and Private Placement Warrants (collectively, with the Public Warrants and forward purchase units, the “Warrants”) issued in connection with its Initial Public Offering as components of equity instead of as derivative liabilities. The warrant agreement governing the Warrants includes a provision that provides for potential changes to the settlement amounts dependent upon the characteristics of the holder of the warrant. In Addition, the warrant agreement includes a provision that in the event of a tender offer or exchange offer made to and accepted by holders of more than 50% of the outstanding shares of a single class of stock, all holders of the Warrants would be entitled to receive cash for their Warrants (the “tender offer provision”).

On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the Securities and Exchange Commission together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (“SPACs”)” (the “SEC Statement”). Specifically, the SEC Statement focused on certain settlement terms and provisions related to certain tender offers following a business combination, which terms are similar to those contained in the warrant agreement (the “Warrant Agreement”). The provisions noted in the SEC Statement impact the Company’s Public Warrants and the Private Placement Warrants.

In further consideration of the SEC Statement, the Company’s management evaluated the Warrants under Accounting Standards Codification (“ASC”) Subtopic 815-40, Contracts in Entity’s Own Equity. ASC Section 815-40-15 addresses equity versus liability treatment and classification of equity-linked financial instruments, including warrants, and states that a warrant may be classified as a component of equity only if, among other things, the warrant is indexed to the issuer’s common stock. Under ASC Section 815-40-15, a warrant is not indexed to the issuer’s common stock if the terms of the warrant require an adjustment to the exercise price upon a specified event and that event is not an input to the fair value of the warrant. Based on management’s evaluation, the Company’s audit committee, in consultation with management, concluded that the Company’s Warrants are not indexed to the Company’s common stock in the manner contemplated by ASC Section 815-40-15 because the holder of the instrument is not an input into the pricing of a fixed-for-fixed option on equity shares. In addition, based on management’s evaluation, the Company’s audit committee, in consultation with management, concluded that the tender offer provision fails the “classified in stockholders’ equity” criteria as contemplated by ASC Section 815-40-25.

As a result of the above, the Company should have classified the Warrants as derivative liabilities in its previously issued financial statements. Under this accounting treatment, the Company is required to measure the fair value of the Warrants at the end of each reporting period as well as re-evaluate the treatment of the warrants (including on August 18, 2020, September 30, 2020, and December 31, 2020) and recognize changes in the fair value from the prior period in the Company’s operating results for the current period.

The Company’s accounting for the Warrants as components of equity instead of as derivative liabilities did not have any effect on the Company’s previously reported investments held in trust, operating expenses, cash flows or cash.


	As Previously Reported			Adjustments			As Restated
Balance sheet as of August 18, 2020 (audited)
Total Liabilities	$	25,131,073		$	43,439,891		$	68,570,964
Class A Ordinary Shares Subject to Redemption		661,895,720			(43,439,891	)		618,455,829
Class A Ordinary Shares		281			434			715
Additional Paid in Capital		5,003,001			8,377,722			13,380,723
Accumulated Deficit		(5,000	)		(8,378,156	)		(8,383,156	)
Number of Class A ordinary shares subject to redemption		66,189,572			(4,343,989	)		61,845,583


Balance sheet as of September 30, 2020 (unaudited)
Total Liabilities	$	25,274,901		$	116,489,061		$	141,763,962
Class A Ordinary Shares Subject to Redemption		661,858,040			(116,489,061	)		545,368,979
Class A Ordinary Shares		281			1,165			1,446
Additional Paid-in Capital		5,040,681			81,426,161			86,466,842
Accumulated Deficit		(42,685	)		(81,427,326	)		(81,470,011	)
Number of Class A ordinary shares subject to redemption		66,185,804			(11,648,906	)		54,536,898


Balance sheet as of December 31, 2020 (audited)
Total Liabilities	$	25,068,093		$	219,794,968		$	244,863,061
Class A Ordinary Shares Subject to Redemption		660,858,080			(219,794,968	)		441,063,112
Class A Ordinary Shares		291			2,198			2,489
Additional Paid-in Capital		6,040,631			184,731,035			190,771,666
Accumulated Deficit		(1,042,637	)		(184,733,233	)		(185,775,870	)
Number of Class A ordinary shares subject to redemption		66,085,808			(21,979,497	)		44,106,311


Statement of operations for the period from July 3, 2020 (inception) to September 30, 2020 (unaudited)
Net loss	$	(42,685	)	$	(81,427,326	)	$	(81,470,011	)
Weighted average shares outstanding – Class A redeemable shares		69,000,000			—			69,000,000
Basic and Diluted EPS – Class A		0.00			0.00			0.00
Weighted average shares outstanding – Class B		17,250,000			—			17,250,000
Basic and Diluted EPS – Class B		0.00			(4.72	)		(4.72	)
Statement of operations for the period from July 3, 2020 (inception) to December 31, 2020 (audited)
Net loss	$	(1,042,637	)	$	(184,733,233	)	$	(185,775,870	)
Weighted average shares outstanding – Class A redeemable shares		69,000,000			—			69,000,000
Basic and Diluted EPS – Class A		0.00			0.00			0.00
Weighted average shares outstanding – Class B		17,250,000			—			16,748,571
Basic and Diluted EPS – Class B		(0.06	)		(11.03	)		(11.09	)

Summary of Significant Accounting Policies

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Summary of Significant Accounting Policies

Note 2 — Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form

10-Q

and Article 8 of Regulation

S-X

of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the

accompanying unaudited condensed interim financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s amended Annual Report on Form

10-K/A

for the period ended December 31, 2020 filed with the SEC on May 13, 2021. The interim results for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the period ending December 31, 2021 or for any future periods.

Emerging Growth Company

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies, including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to

non-emerging

growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of unaudited condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future events. One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of June 30, 2021 and December 31, 2020.

Cash and Marketable Securities Held in Trust Account

At June 30, 2021 and December 31, 2020, the assets held in the Trust Account were held in mutual funds and cash, respectively.

Class A Ordinary shares subject to possible redemption

The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption is classified as a liability instrument and is measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that features redemption rights that is either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, as of June 30, 2021 and December 31, 2020, Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ equity section of the Company’s unaudited condensed balance sheets.

Offering Costs

Offering costs consist of underwriting, legal, accounting and other expenses incurred through the Initial Public Offering that are directly related to the Initial Public Offering. Offering costs amounting to $37,773,402 were charged to shareholders’ equity upon the completion of the Initial Public Offering. Offering costs allocated to the warrant liabilities amounted to $1,150,871, were expensed as of the date of the Initial Public Offering.

Warrant Liability

The Company accounts for the Warrants in accordance with the guidance contained in ASC

815-40

under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjusts the Warrants to fair value at each reporting period. This liability is subject to

re-measurement

at each balance sheet date until exercised, and any change in fair value is recognized in the statement of operations. The Public Warrants for periods where no observable traded price was available were valued using a barrier option simulation. For periods subsequent to the detachment of the Public Warrants from the Units, the Public Warrant quoted market price was used as the fair value as of each relevant date. The fair value of the Private Warrants was determined using a Black-Scholes option pricing model.

Income Taxes

The Company accounts for income taxes under ASC Topic 740, “Income Taxes,” which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax

positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of June 30, 2021 and December 31, 2020, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

The Company is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the periods presented.

Net Income (Loss) Per Ordinary Share

Net income (loss) per share is computed by dividing net income (loss) by the weighted average number of ordinary shares outstanding for the period. The calculation of diluted loss per share does not consider the effect of the warrants issued in connection with the (i) Initial Public Offering, (ii) the exercise of the over-allotment option and (iii) Private Placement Warrants since the exercise of the warrants are contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive. The warrants are exercisable to purchase 29,600,000 shares of Class A ordinary shares in the aggregate.

The Company’s statement of operations includes a presentation of income (loss) per share for ordinary shares subject to possible redemption in a manner similar to the

two-class

method of income (loss) per share. Net income per share, basic and diluted, for Class A redeemable ordinary shares is calculated by dividing the interest income earned on the Trust Account, by the weighted average number of Class A redeemable ordinary shares outstanding since original issuance. Net loss per share, basic and diluted, for Class B

non-redeemable

ordinary shares is calculated by dividing the net income (loss), adjusted for income attributable to Class A redeemable ordinary shares, by the weighted average number of Class B

non-redeemable

ordinary shares outstanding for the period. Class B

non-redeemable

ordinary shares includes the Founder Shares as these shares do not have any redemption features and do not participate in the income earned on the Trust Account.

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):


	Three Months Ended June, 30			Six Months Ended June 30,
	2021			2021
Redeemable Class A Ordinary Shares
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares Interest Income earned on marketable securities held in Trust Account	$	15,703		$	21,942
Net Earnings	$	15,703		$	21,942

Denominator: Weighted Average Redeemable Class A Ordinary Shares Redeemable Class A Ordinary Shares, Basic and Diluted		69,000,000			69,000,000

Earnings/Basic and Diluted Redeemable Class A Ordinary Shares	$	0.00		$	0.00

Non-Redeemable Class B Ordinary Shares
Numerator: Net Income (Loss) minus Redeemable Net Earnings
Net Income (Loss)	$	(17,630,095	)	$	142,994,465
Redeemable Net Earnings		(15,703	)		(21,942	)

Non-Redeemable Net Income (Loss)	$	(17,645,798	)	$	142,972,523

Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares
Non-Redeemable Class B Ordinary Shares, Basic and Diluted		17,250,000			17,250,000

Earnings (loss)/Basic and Diluted Non-Redeemable Class B Ordinary Shares	$	(1.02	)	$	8.29

Note: As of June 30, 2021, basic and diluted shares are the same as there are no

non-redeemable

securities that are dilutive to the shareholders.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

Fair Value Measurements

Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:

•

Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

•

Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and

•

Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

Derivative Financial Instruments

re-valued

at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or

non-current

based on whether or not

net-cash

settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Recent Accounting Standards

In August 2020, the FASB issued ASU

No. 2020-06,

“Debt—Debt with Conversion and Other Options (Subtopic

470-20)

and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic

815-40):

Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU

2020-06”),

which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. ASU

2020-06

removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. ASU

2020-06

is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, with early adoption permitted. The Company adopted ASU

2020-06

effective as of January 1, 2021. The adoption of ASU

2020-06

did not have an impact on the Company’s financial statements.

Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the Company’s unaudited condensed financial statements.

NOTE 3 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements are presented in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (the “SEC”).

Emerging Growth Company

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies, including, but not limited to, not being required to comply with auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

non-emerging

Use of Estimates

The preparation of financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Cash and Cash Equivalents

Cash Held in Trust Account

At December 31, 2020, the assets held in the Trust Account were held in cash.

Class A Ordinary Shares Subject to Possible Redemption

The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, at December 31, 2020, Class A ordinary shares subject to possible redemption is presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet.

Offering Costs

Offering costs consist of underwriting, legal, accounting and other expenses incurred through the Initial Public Offering that are directly related to the Initial Public Offering. Offering costs amounting to $37,773,402 were charged to shareholders’ equity upon the completion of the Initial Public Offering. Offering costs allocated to the warrant liabilities amounted to $1,150,871, are expensed and included in other expenses in the statement of operations.

Warrant Liability

The Company accounts for the Warrants in accordance with the guidance contained in ASC 815-40 under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjust the Warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in our statement of operations. The Public Warrants for periods where no observable traded price was available are valued using a barrier option simulation. For periods subsequent to the detachment of the Public Warrants from the Units, the Public Warrant quoted market price was used as the fair value as of each relevant date. The fair value of Private Warrants was determined using a Black-Scholes option pricing model.

Income Taxes

The Company accounts for income taxes under ASC Topic 740, “Income Taxes,” which prescribes a recognition threshold and a measurement attribute for the financial statement’s recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of December 31, 2020, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

The Company is considered to be a Cayman Islands exempted company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero for the period presented.

Net Loss Per Ordinary Share

Net loss per share is computed by dividing net income (loss) by the weighted average number of ordinary shares outstanding for the period. The calculation of diluted loss per share does not consider the effect of the warrants issued in connection with the (i) Initial Public Offering, (ii) the exercise of the over-allotment option and (iii) Private Placement Warrants since the exercise of the warrants are contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive. The warrants are exercisable to purchase 29,600,000 shares of Class A ordinary shares in the aggregate.

The Company’s statement of operations includes a presentation of income (loss) per share for ordinary shares subject to possible redemption in a manner similar to the

two-class

non-redeemable

ordinary shares is calculated by dividing the net loss, adjusted for income attributable to Class A redeemable ordinary shares, by the weighted average number of Class B

non-redeemable

ordinary shares outstanding for the period. Class B

non-redeemable

ordinary shares includes the Founder Shares as these shares do not have any redemption features and do not participate in the income earned on the Trust Account.

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):


	For the Period from July 3, 2020 (inception) Through December 31, 2020
Redeemable Class A Ordinary Shares
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares
Interest Income	$	—

Net Earnings	$	—

Denominator: Weighted Average Redeemable Class A Ordinary Shares
Redeemable Class A Ordinary Shares, Basic and Diluted		69,000,000
Earnings/Basic and Diluted Redeemable Class A Ordinary Shares	$	0.00

Non-Redeemable Class B Ordinary Shares
Numerator: Net Loss minus Redeemable Net Earnings
Net Loss	$	(185,775,870	)
Redeemable Net Earnings	$	—

Non-Redeemable Net Loss	$	(185,775,870	)

Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares
Non-Redeemable Class B Ordinary Shares, Basic and Diluted		16,748,571
Loss/Basic and Diluted Non-Redeemable Class B Ordinary Shares	$	(11.09	)

Note: As of December 31, 2020, basic and diluted shares are the same as there are no

non-redeemable

securities that are dilutive to the shareholders.

Concentration of Credit Risk

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximate the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.

Fair Value Measurements

•

Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

•

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the issuance date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Recent Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the Company’s financial statements.

Summary of Significant Accounting Policies

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting

—The accompanying condensed consolidated financial statements are prepared in accordance with US generally accepted accounting principles, or GAAP, and include the accounts of the Company and its wholly-owned subsidiaries and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements include 100% of the accounts of wholly-owned and majority-owned subsidiaries and the ownership interest of the minority investor is recorded as a

non-controlling

interest.

Use of Estimates

—The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts, and the disclosures of contingent amounts in the Company’s condensed consolidated financial statements and the accompanying notes. Although the Company regularly assesses these estimates, actual results could differ from those estimates. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results could differ from management’s estimates if past experience or other assumptions are not substantially accurate. Significant estimates in these condensed consolidated financial statements include the estimation of contract transaction prices, the determination of the amortization period for contract assets, the valuation of goodwill and intangible assets and the estimates and assumptions associated with stock incentive plans and the fair value of common stock.

Cash and Cash Equivalents

—The Company considers all highly liquid investments purchased with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. Cash and cash equivalents are carried at cost, which approximates fair value. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. While the Company has deposits that exceed federally insured limits at financial institutions, the Company places its cash and cash equivalents in highly rated institutions. The Company has never experienced any losses related to these balances.

Foreign Currency

—The Company’s functional currency is the US dollar; however, for operations located in China, the functional currency is the local currency. Assets and liabilities of the foreign operations are translated to US dollars at exchange rates in effect at the condensed consolidated balance sheet date, while statement of operations accounts are translated to US dollars at the average exchange rates for the period. Translation gains and losses are recorded and remain as a component of accumulated other comprehensive loss in stockholders’ equity until transactions are settled or the foreign entity is sold or liquidated. Gains and losses resulting from transactions that are denominated in a currency that is not the functional currency are recorded to other income–net, in the condensed consolidated statements of operations and comprehensive income (loss).

Significant Customers and Concentration of Credit Risks

—The Company is potentially subject to concentration of credit risk primarily through its accounts receivable. The Company performs ongoing credit evaluations of its customers and maintains allowances for potential credit losses which, when realized, have been within the range of management’s expectations. The Company generally does not require collateral. Credit risk on accounts receivables is minimized as a result of the large and diverse nature of the Company’s customer base.

Significant customers are those that represent more than 10% of the Company’s total revenue or accounts receivable. For each significant customer, revenue as a percentage of total revenue is as follows:


	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2021		2020			2021		2020
Customer A		*			*		*			*
Customer B		*		10	%		*		11	%

Below 10%

For each significant customer, accounts receivable as a percentage of net accounts receivable is as follows:


	June 30, 2021			December 31, 2020
Customer A		10	%		12	%
Customer B		13	%			*

Below 10%

Revenue Recognition

— The Company’s revenue recognition policy follows guidance from Accounting Standards Codification (ASC) 606,

Revenue from Contracts with Customers.

The Company generates revenue from contracts that are generally billed either on a monthly subscription or transactional basis. Other revenue primarily consists of professional services revenue that is generally transaction-based (where a fee per transaction is charged). Revenues are recognized as control of these services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services.

The Company determines revenue recognition based on the application of the following steps:

•

Identification of the contract, or contracts, with a customer

•

Identification of the performance obligation(s) in the contract

•

Determination of the transaction price

•

Allocation of the transaction price to the performance obligation(s) in the contract

•

Recognition of revenue when, or as a performance obligation is satisfied

Software Subscription Revenues

-Software services are hosted and provide customers with the right to use the hosted software over the contract period without taking possession of the software and are generally billed on either a monthly subscription or transactional basis. Revenues related to services billed on a subscription basis are recognized ratably over the contract period as this is the time period over which services are transferred to the customer, generally between three and five years.

Revenues from subscription services represent a stand-ready obligation to provide access to the Company’s platform. As each day of providing services is substantially the same and the customer simultaneously receives and consumes the benefits as access is provided, subscription arrangements include a series of distinct services. The Company may provide certain of its customers with implementation activities such as basic setup, installation and initial training that the Company must undertake to fulfill the contract. These are considered fulfillment activities that do not transfer the service to the customer.

For contracts with fixed and variable consideration, to the extent that customers’ usage exceeds the committed contracted amounts under their subscriptions, they are charged for their incremental usage. For such overage fees, the Company includes an estimate of the amount it expects to receive for the total transaction price if it is probable that a significant reversal of cumulative revenue recognized will not occur. Revenue recognized from overage fees was not material during the three and six months ended June 30, 2021 and 2020. When customers’ usage falls below the committed contracted amounts, the customer does not receive any credits or refunds for the shortfall.

For contracts where fees are solely based on transaction volume, the amount invoiced corresponds directly with the value provided to the customer, and revenue is recognized when invoiced using the

as-invoiced

practical expedient.

Other Revenue

-Other revenues are recognized over time as the services are performed and consist of professional services and other

non-software

services, including the Company’s First Party Clinical Services which was divested in December 2020 (see Note 25). Other revenues are generally invoiced monthly in arrears.

Revenues related to such services that are billed on a transactional basis are recognized when the transaction for the related service occurs. Transaction revenue is primarily comprised of fees for professional services applied to the volume of transactions. These are typically based on a

per-unit

rate and are invoiced for the same period in which the transactions were processed and as the performance obligation is satisfied. For contracts with transaction fees, the amount invoiced corresponds directly with the value provided to the customer, and revenue is recognized when invoiced using the

as-invoiced

practical expedient.

Contracts with Multiple Performance Obligations

-The Company’s contracts with customers can include access to different software applications such as CCC workflow, estimating, valuation and analytics, each of which is its own performance obligation. These additional services are either sold on a standalone basis or could be used on their own with readily available resources. For these contracts, the Company accounts for individual performance obligations separately, if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The standalone selling price for distinct performance obligations is generally based on directly observable pricing. In instances where standalone selling price is not directly observable, the Company determines standalone selling price based on overall pricing objectives, which take into consideration observable data, market conditions and entity-specific factors.

Disaggregation of Revenue-

The Company provides disaggregation of revenue based on type of service as it believes these categories best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

The following table summarizes revenue by type of service for the three and six months ended June 30 (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Software subscriptions	$	159,841	$	138,565	$	311,865	$	279,039
Other		6,948		12,151		12,713		30,885

Total revenues	$	166,789	$	150,716	$	324,578	$	309,924

Transaction Price Allocated to the Remaining Performance Obligations-

approximately $457 million thereafter. The estimated revenues do not include unexercised contract renewals. The remaining performance obligations exclude future transaction revenue where revenue is recognized as the services are rendered and in the amount to which the Company has the right to invoice.

Contract Liabilities

Revenue recognized for the three months ended June 30, 2021 from amounts in deferred revenue as of March 31, 2021 was $26.4 million. Revenue recognized for the three months ended June 30, 2020 from amounts in deferred revenue as of March 31, 2020 was $24.4 million.

Revenue recognized for the six months ended June 30, 2021 from amounts in deferred revenue as of December 31, 2020 was $25.6 million. Revenue recognized for the six months ended June 30, 2020 from amounts in deferred revenue as of December 31, 2019 was $24.8 million

Costs to Obtain and Fulfill the Contract

-The Company defers costs that are considered to be incremental and recoverable costs of obtaining a contract with a customer, including sales commissions. Costs to fulfill contracts are capitalized when such costs are direct and related to implementation activities for hosted software solutions. Capitalized costs to obtain a contract and costs to fulfill a contract are generally amortized over a period between three and five years, which represents the expected period of benefit of these costs and corresponds to the contract period. In instances where the contract term is significantly less than three years, costs to fulfill are amortized over the contract term which the Company believes best reflects the period of benefit of these costs.

Cost of Revenues

—Cost of revenues is primarily composed of personnel costs and costs of external resources used in the delivery of services to customers, including software configuration, integration services, customer support activities, third party costs related to hosting the Company’s software for its customers, internal support of production infrastructure, information technology (“IT”) security costs, depreciation expense, cost of software production, and license and royalty fees paid to third parties. Cost of revenues also includes amortization of internal use software and acquired technologies.

Research and Development

—Research and development expenses consist primarily of personnel-related costs, including share-based compensation, and costs of external development resources involved in the engineering, design and development of new solutions, as well as expenses associated with significant ongoing improvements to existing solutions. Research and development expenses also include costs for certain information technology expenses. Research and development costs, other than software development costs qualifying for capitalization, are expensed as incurred.

Selling and Marketing

—Selling and marketing expenses consist primarily of personnel-related costs for our sales and marketing functions, including sales commissions and share-based compensation. Additional expenses include advertising costs, marketing costs and event costs, including the Company’s annual industry conference.

The Company expenses advertising and other promotional expenditures as incurred. Advertising expenses were $0.4 million and $0.5 million for the three months ended June 30, 2021, and 2020, respectively. Advertising expenses were $0.5 million and $0.8 million for the six months ended June 30, 2021, and 2020, respectively.

General and Administrative

—General and administrative expenses consist primarily of personnel-related costs, including share-based compensation, for our executive management and administrative employees, including finance and accounting, human resources, information technology, facilities and legal functions. Additional expenses include professional service fees, insurance premiums, and other corporate expenses that are not allocated to the above expense categories.

Amortization of Intangible Assets

—Amortization of intangible assets consists of the capitalized costs of intangible assets acquired in connection with the Company’s Acquisition in April 2017. These intangible assets are amortized on a straight-line basis over their estimated useful lives (Note 10).

Stock-Based Compensation

—The Company’s stock-based compensation plans are described in Note 19. The Company accounts for stock-based payment awards based on the grant date fair value. Stock-based payment awards that are settled in cash are accounted for as liabilities. The Company recognizes stock-based compensation expense for only the portion of options expected to vest, based on an estimated forfeiture rate.

The Company recognizes stock-based compensation expense for time-based awards on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. Stock-based compensation expense for the performance-based awards with a market condition is not recognized until the performance condition is probable of occurring.

The fair value of the Company’s awards with only a time-based component is estimated using the Black Scholes option pricing model. The fair value of the Company’s performance-based awards with a market condition is estimated using the Monte Carlo simulation method. The assumptions utilized under these methods require judgments and estimates. Changes in these inputs and assumptions could affect the measurement of the estimated fair value of the related compensation expense of these stock-based payment awards.

Accounts Receivable—Net

—Accounts receivable, as presented in the condensed consolidated balance sheets, are net of customer sales allowances and doubtful accounts. The Company determines allowances for its sales reserves and doubtful accounts based on specific identification of customer accounts and historical experience to the remaining accounts receivable balance. The Company’s assessment of doubtful accounts includes using historical information and the probability of collection from customers. Doubtful accounts are charged to general and administrative expenses in the condensed consolidated statements of operations and comprehensive income (loss).

Software, Equipment, and Property—Net

—Software, equipment, and property are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed on a straight-line basis over the asset’s estimated useful lives, which are as follows:


Software, equipment, and property	Estimated Useful Life
Software and licenses		2-5 years
Computer equipment		3 years
Leasehold improvements		3-15 years
Furniture and other equipment		5 years
Database		25 years
Building		39 years
Land		Indefinite

Maintenance and repairs are expensed as incurred. Major betterments are capitalized.

Internal Use Software

—The Company capitalizes the direct costs incurred in developing or obtaining internal use software, including platform development, infrastructure and tools, as well as certain payroll and payroll-related costs of employees who are directly associated with internal use computer software projects. The amount of capitalized payroll costs with respect to these employees is limited to the time directly spent on such projects. The costs associated with preliminary project stage activities, training, maintenance, and all other post-implementation activities are expensed as incurred. Additionally, the Company expenses internal costs related to minor upgrades and enhancements as it is impractical to separate these costs from normal maintenance activities. Capitalized internal use software costs are recorded within software, equipment, and property on the Company’s condensed consolidated balance sheets.

Goodwill and Intangible Assets

— Goodwill and intangible assets deemed to have indefinite lives are not amortized, but are subjected to an annual impairment test as of September 30 of each fiscal year, or more frequently if events or changes in circumstances indicate that the carrying value may not be recoverable. Testing goodwill and intangible assets for impairment involves comparing the fair value of the reporting unit or intangible asset to its carrying value. If the carrying amount of a reporting unit or intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to the excess, up to the carrying value of the goodwill or intangible asset. There were no events or changes in circumstances that indicated the carrying value may not be recoverable and no impairment charges were recognized during the three and six months ended June 30, 2021 and 2020.

Long-Lived Assets

—Long-lived assets, other than goodwill, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset or asset group to estimated undiscounted future cash flows expected to be generated by such assets. If the carrying amount of the assets exceeds their estimated future cash flows, an impairment charge is recognized equal to the amount by which the carrying amount of the assets exceeds their fair value. There were no events or changes in circumstances that indicated the carrying value may not be recoverable and no impairment charges were recognized during the three and six months ended June 30, 2021 and 2020.

Deferred Financing Costs

—Deferred financing costs are capitalized and amortized over the life of the underlying financing agreement (see Note 14).

Equity Method Investment

—The Company accounts for its 7% investment in a limited partnership using the equity method of accounting. Under the equity method of accounting, the investee’s accounts are not reflected within the Company’s condensed consolidated balance sheets and condensed consolidated statements of operations and comprehensive income (loss). The Company’s investment is initially recognized at cost and adjusted thereafter for the post acquisition changes in the Company’s share of the investee’s earnings.

The Company’s share of the investee’s earnings is reported within other income (loss) in the Company’s condensed consolidated statements of operations and comprehensive income (loss).

Fair Value of Financial Instruments and Fair Value Measurements

—Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value.

Level

—Valuations based on quoted prices for identical assets and liabilities in active markets.

Level

—Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Level

—Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

The Company has interest rate swaps that are recognized as either assets or liabilities and are measured at fair value. The interest rate swaps are not designated as hedges and the gains and losses from changes in fair value are recognized in earnings in the period incurred. The carrying amounts reported in the condensed consolidated financial statements approximate the fair value for cash equivalents, trade accounts receivable, trade payables, and accrued expenses, due to their short-term nature.

Income Taxes

relate to the timing of recognition of certain revenue and expense items, and the timing of the deductibility of certain reserves and accruals for income tax purposes that differs from the timing for financial reporting purposes. The Company establishes a tax valuation allowance to the extent that it is more likely than not that a deferred tax asset will not be realizable against future taxable income.

A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation process, based on its technical merits. Income tax positions must meet a

more-likely-than-not

recognition threshold to be recognized.

Accrual for Self-Insurance Costs

—The Company maintains a self-insured group medical program. The program contains stop loss thresholds with amounts in excess of the self-insured levels fully insured by third-party insurers. Liabilities associated with this program are estimated in part by considering historical claims experience and medical cost trends.

Leases

—Effective January 1, 2021, the Company adopted Accounting Standards Update

2016-02

(ASU

2016-02)

which created a new topic, ASC 842 “Leases.”

In accordance with ASC 842, the Company, at the inception of the contract, determines whether a contract is or contains a lease. For leases with terms greater than 12 months, the Company records the related operating or finance right of use asset and lease liability at the present value of lease payments over the lease term. The Company is generally not able to readily determine the implicit rate in the lease and therefore uses the determined incremental borrowing rate at lease commencement to determine the present value of lease payments. The incremental borrowing rate represents an estimate of the market interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. Renewal options are not included in the measurement of the right of use assets and lease liabilities unless the Company is reasonably certain to exercise the optional renewal periods. Some leases also include early termination options, which can be exercised under specific conditions. Additionally, certain leases contain incentives, such as construction allowances from landlords. These incentives reduce the

right-of-use

asset related to the lease.

Some of the Company’s leases contain rent escalations over the lease term. The Company recognizes expense for operating leases on a straight-line basis over the lease term. The Company’s lease agreements contain variable lease payments for increases in rental payment as a result of common area maintenance, utility, tax, and equipment maintenance charges. The Company has elected the practical expedient to combine lease and

non-lease

components for all asset categories. Therefore, the lease payments used to measure the lease liability for these leases include fixed minimum rentals along with fixed non lease component charges. The Company does not have significant residual value guarantees or restrictive covenants in the lease portfolio.

For periods prior to the adoption of ASC 842, the Company recorded rent expense on a straight-line basis over the term of the related lease. The difference between the straight-line rent expense and the payments made in accordance with the operating lease agreements were recognized as a deferred rent liability within other liabilities on the accompanying condensed consolidated balance sheets.

Recently Adopted Accounting Pronouncements

—In February 2016, FASB issued Accounting Standards Update

2016-02

(ASU

2016-02)

which created a new topic, ASC 842 “Leases,” which requires companies to recognize on the consolidated balance sheet assets and liabilities for the rights and obligations created by the leases.

The Company adopted ASC 842 effective January 1, 2021 using the modified retrospective transition method as allowed under ASU

2018-11

which includes the ability to recognize the cumulative effect of the adoption being recorded as an adjusted to retained earnings on January 1, 2021. Prior period results will continue to be presented under ASC 840 as it was the accounting standards in effect for such periods. The Company elected to apply the package of practical expedients that allows entities to forgo reassessing at the transition date: (1) whether any expired or existing contracts are or contain leases; (2) lease classification for

any expired or existing leases; and (3) whether unamortized initial direct costs for existing leases meet the definition of initial direct costs under the new guidance. The Company did not elect the hindsight practical expedient. The Company also elected to use the practical expedient that allows the combination of lease and

non-lease

contract components in all of its underlying asset categories.

Due to the adoption of this guidance, the Company recognized operating

right-of-use

assets and operating lease liabilities of $47.1 million and $53.0 million, respectively, as of the date of adoption. The difference between the

right-of-use

assets and lease liabilities on the accompanying condensed consolidated balance sheet is primarily due to the accrual for lease payments as a result of straight-line lease expense and unamortized tenant incentive liability balances. The Company did not have any impact to opening retained earnings as a result of the adoption of the guidance. The adoption of this new guidance did not have a material impact on the Company’s results of operations and comprehensive income (loss), cash flows, liquidity, or the Company’s covenant compliance under its existing credit agreement.

As an “emerging growth company,” the Jumpstart Our Business Startups Act, or the JOBS Act, allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use the adoption dates applicable to private companies. As a result, the Company’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies.

Recently Issued Accounting Pronouncements

—In June 2016, the FASB issued ASU

No. 2016-13,

Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments

, and subsequent amendments to the initial guidance: ASU

2018-19,

ASU

2019-04,

ASU

2019-05,

and ASU

2020-03.

The guidance amends the current accounting guidance and requires the measurements of all expected losses based on historical experience, current conditions and reasonable and supportable forecasts. The new guidance replaces the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. The guidance is effective for the Company on January 1, 2023 and early adoption is permitted. The Company is currently assessing the impact of this update on its condensed consolidated financial statements.

In March 2020, the FASB issued ASU

2020-04,

Reference

Rate

Reform

(Topic 848): Facilitation of the Effects of Reference

Rate

Reform

on Financial Reporting

(“ASU

2020-04”),

and in January 2021 subsequently issued ASU

2021-01

(“ASU

2021-01”),

which refines the scope of Topic 848. These ASUs provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. Adoption of the expedients and exceptions is permitted upon issuance of ASU

2020-04

through December 31, 2022. The Company is evaluating the impact of the adoption of this guidance on its condensed consolidated financial statements.

2.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting

—The accompanying consolidated financial statements are prepared in accordance with US generally accepted accounting principles, or GAAP, and include the accounts of the Company and its wholly-owned subsidiaries and majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements include 100% of the accounts of wholly-owned and majority-owned subsidiaries and the ownership interest of the minority investor is recorded as a

non-controlling

interest.

Use of Estimates

—The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts, and the disclosures of contingent amounts in the

Company’s consolidated financial statements and the accompanying notes. Although the Company regularly assesses these estimates, actual results could differ from those estimates. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results could differ from management’s estimates if past experience or other assumptions are not substantially accurate. Significant estimates in these consolidated financial statements include the estimation of contract transaction prices, the determination of the amortization period for contract assets, the valuation of goodwill and intangible assets and the estimates and assumptions associated with stock incentive plans and the fair value of common stock.

Cash and Cash Equivalents

Foreign Currency

—The Company’s functional currency is the US dollar; however, for operations located in China, the functional currency is the local currency. Assets and liabilities of the foreign operations are translated to US dollars at exchange rates in effect at the consolidated balance sheet date, while statement of operations accounts are translated to US dollars at the average exchange rates for the period. Translation gains and losses are recorded and remain as a component of accumulated other comprehensive loss in stockholders’ equity until transactions are settled or the foreign entity is sold or liquidated. Gains and losses resulting from transactions that are denominated in a currency that is not the functional currency are recorded to other income–net, in the consolidated statements of operations and comprehensive loss.

Significant Customers and Concentration of Credit Risks


	Revenue
	Year Ended December 31,
	2020			2019			2018
Customer A		*			12	%		13	%
Customer B		11	%		11	%		11	%



	Accounts Receivable
	December 31,
	2020			2019
Customer A		12	%		*
Customer B		*			14	%

Below 10%

Revenue Recognition

— Effective January 1, 2019, the Company’s revenue recognition policy follows guidance from Accounting Standards Codification (ASC) 606,

Revenue from Contracts with Customers.

transaction-based (where a fee per transaction is charged). Revenues are recognized as control of these services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services.

The Company determines revenue recognition based on the application of the following steps:

•

Identification of the contract, or contracts, with a customer

•

Identification of the performance obligation(s) in the contract

•

Determination of the transaction price

•

Allocation of the transaction price to the performance obligation(s) in the contract

•

Recognition of revenue when, or as a performance obligation is satisfied

Software Subscription Revenues

For contracts with fixed and variable consideration, to the extent that customers’ usage exceeds the committed contracted amounts under their subscriptions, they are charged for their incremental usage. For such overage fees, the Company includes an estimate of the amount it expects to receive for the total transaction price if it is probable that a significant reversal of cumulative revenue recognized will not occur. Revenue recognized from overage fees was not material during the years ended December 31, 2020, 2019 and 2018. When customers’ usage falls below the committed contracted amounts, the customer does not receive any credits or refunds for the shortfall.

For contracts where fees are solely based on transaction volume, the amount invoiced corresponds directly with the value provided to the customer, and revenue is recognized when invoiced using the

as-invoiced

practical expedient.

Other Revenue

-Other revenues are recognized over time as the services are performed and consist of professional services and other

non-software

services. Other revenues are generally invoiced monthly in arrears.

per-unit

as-invoiced

practical expedient.

Contracts with Multiple Performance Obligations

-The Company’s contracts with customers can include access to different software applications such as CCC workflow, estimating, valuation and analytics, each of which is its own performance obligation. These additional services are either sold on a standalone basis or could be used on their own with readily available resources. For these contracts, the Company accounts for individual performance obligations separately, if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The standalone selling price for distinct performance obligations are generally based on directly observable pricing. In instances where

standalone selling price is not directly observable, the Company determines standalone selling price based on overall pricing objectives, which take into consideration observable data, market conditions and entity-specific factors.

Disaggregation of Revenue-

The following table summarizes revenue by type of service for the years ended December 31 (in thousands):


	2020		2019		2018
Software subscriptions	$	573,608	$	540,219	$	492,553
Other		59,455		75,865		77,219

Total revenues	$	633,063	$	616,084	$	569,772

Transaction Price Allocated to the Remaining Performance Obligations-

Remaining performance obligations represent contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. As of December 31, 2020, approximately $855 million of revenue is expected to be recognized from remaining performance obligations in the amount of approximately $405 million during the year ended December 31, 2021, and approximately $450 million thereafter. The estimated revenues do not include unexercised contract renewals. The remaining performance obligations exclude future transaction revenue where revenue is recognized as the services are rendered and in the amount to which the Company has the right to invoice.

Contract Liabilities

-Contract liabilities consist of deferred revenue and include customer billings in advance of revenues being recognized from subscription contracts and professional services. Deferred revenue that is expected to be recognized during the succeeding twelve-month period is recorded as current, and the remaining portion is recorded as noncurrent and included within other liabilities on the consolidated balance sheets. During the years ended December 31, 2020 and 2019, $25.1 million and $22.8 million, respectively, that was included in the deferred revenue balance at the beginning of each period was recognized as revenue.

Costs to Obtain and Fulfill the Contract

ASC 605 Revenue Recognition-

Prior to the adoption of ASC 606 on January 1, 2019, the Company’s revenue recognition policy followed guidance from ASC 605,

Revenue Recognition,

and revenue was recognized pursuant to the following policy.

Revenues are recognized only after services are provided, when persuasive evidence of an arrangement exists, the fee is fixed or determinable, and when collectability is probable. The Company generates revenue from subscription-based contracts that are billed either on a subscription or transactional basis.

Software subscription revenue is recognized ratably over the term of the arrangement, when installation commences and access has been made available to the customer. The customer does not have the contractual right to take possession of the software, and the items delivered at the outset of the contract (e.g., installation, training, etc.) do not have value to the customer without the hosted service and ongoing support and maintenance.

A transaction-based fee represents a payment for the right to use the software and access to the hosted database. The Company considers the fee to be fixed or determinable only at the time actual usage occurs, and, accordingly, the Company recognizes revenue at the time of actual usage.

Other revenue primarily consists of professional services revenue that is generally transaction-based (where a fee per transaction is charged).

Cost of Revenues

—Cost of revenues is primarily composed of personnel costs and costs of external resources used in the delivery of services to customers, including software configuration, integration services, customer support activities, third party costs related to hosting the Company’s software for its customers, internal support of production infrastructure, depreciation expense, cost of software production, and license and royalty fees paid to third parties. Cost of revenues also includes amortization of internal use software, acquired technologies, and impairment charges on acquired technologies.

Research and Development

Selling and Marketing

The Company expenses advertising and other promotional expenditures as incurred. Advertising expenses were $1.6 million, $1.3 million and $1.2 million for the years ended December 31, 2020, 2019 and 2018, respectively.

General and Administrative

Amortization of Intangible Assets

Stock-Based Compensation

—The Company’s stock-based compensation plans are described in Note 17. The Company accounts for stock-based payment awards based on the grant date fair value. Stock-based payment awards that are settled in cash are accounted for as liabilities. The Company recognizes stock-based compensation expense for only the portion of options expected to vest, based on an estimated forfeiture rate.

The Company recognizes stock-based compensation expense for time-based awards on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. Stock-based compensation expense for the performance-based and market-based options is not recognized until the performance condition is probable of occurring.

The fair value of the Company’s awards with only a time-based component is estimated using the Black Scholes option pricing model. The fair value of the Company’s performance-based and market-based awards is estimated using the Monte Carlo simulation method. The assumptions utilized under these methods require judgments and estimates. Changes in these inputs and assumptions could affect the measurement of the estimated fair value of the related compensation expense of these stock-based payment awards.

Accounts Receivable—Net

—Accounts receivable, as presented in the consolidated balance sheets, are net of customer sales allowances and doubtful accounts. The Company determines allowances for its sales reserves and doubtful accounts based on specific identification of customer accounts and historical

experience to the remaining accounts receivable balance. The Company’s assessment of doubtful accounts includes using historical information and the probability of collection from customers. Doubtful accounts are charged to general and administrative expenses in the consolidated statements of operations and comprehensive loss.

Software, Equipment, and Property—Net


		Software, equipment and property		Estimated Useful Life

		Software and licenses		2-5 years
		Computer equipment		3 years
		Leasehold improvements		3-15 years
		Furniture and other equipment		5 years
		Database		25 years
		Building		39 years
		Land		Indefinite

Maintenance and repairs are expensed as incurred. Major renewals or betterments are capitalized.

Internal Use Software

Goodwill and Intangible Assets

— Goodwill and intangible assets deemed to have indefinite lives are not amortized, but are subjected to an annual impairment test as of September 30 of each fiscal year, or more frequently if events or changes in circumstances indicate that the carrying value may not be recoverable. Testing goodwill and intangible assets for impairment involves comparing the fair value of the reporting unit or intangible asset to its carrying value. If the carrying amount of a reporting unit or intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to the excess, up to the carrying value of the goodwill or intangible asset. The Company performed the impairment test of its reporting units for the years ended December 31, 2020, 2019 and 2018. For the year ended December 31, 2020, the Company determined no impairment existed. For the year ended December 31, 2019, the Company recognized a goodwill impairment charge of $25.8 million (Note 9). For the year ended December 31, 2018, the Company determined no impairment existed.

Long-Lived Assets

—Long-lived assets, other than goodwill, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset or asset group to estimated undiscounted future cash flows expected to be generated by such assets. If the carrying amount of the assets exceeds their estimated future cash flows, an impairment charge is recognized equal to the amount by which the carrying amount of the assets exceeds their fair value. No impairment charges were recognized during the year ended December 31, 2020. During the year ended December 31, 2019, the Company recognized an impairment charge of $181.3 million on its definite-lived intangible assets (Note 9). No impairment charges were recognized during the year ended December 31, 2018.

Deferred Financing Costs

—Deferred financing costs are capitalized and amortized over the life of the underlying financing agreement. See Note 12 Long-Term Debt for additional information.

Fair Value of Financial Instruments and Fair Value Measurements

Level

—Valuations based on quoted prices for identical assets and liabilities in active markets.

Level

The Company has interest rate swaps that are recognized as either assets or liabilities and are measured at fair value. The interest rate swaps are not designated as hedges and the gains and losses from changes in fair value are recognized in earnings in the period incurred. The carrying amounts reported in the consolidated financial statements approximate the fair value for cash equivalents, trade accounts receivable, trade payables, and accrued expenses, due to their short-term nature.

Income Taxes

—Deferred income tax assets and liabilities are recognized for the expected future tax effects of temporary differences between the financial and income tax reporting basis of assets and liabilities using tax rates in effect for the years in which the differences are expected to reverse. Deferred income taxes relate to the timing of recognition of certain revenue and expense items, and the timing of the deductibility of certain reserves and accruals for income tax purposes that differs from the timing for financial reporting purposes. The Company establishes a tax valuation allowance to the extent that it is more likely than not that a deferred tax asset will not be realizable against future taxable income.

more-likely-than-not

recognition threshold to be recognized.

Accrual for Self-Insurance Costs

Leases

—The Company is a lessee of facilities in the United States and China and certain equipment under

non-cancelable

lease agreements. The Company categorizes leases at their inception as either operating or capital leases. For certain lease agreements, the Company may receive rent holidays and other incentives, including allowances for leasehold improvements. Future operating lease payments are recognized as rent expense on a straight-line basis without regard to deferred payment terms, such as rent holidays. Incentives received are treated as a reduction of rent expense over the term of the agreement. Leasehold improvements are capitalized at cost and amortized over the lesser of their estimated useful life or the term of the lease.

Recently Adopted Accounting Pronouncements

— As an “emerging growth company,” the Jumpstart Our Business Startups Act, or the JOBS Act, allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use the adoption dates applicable to private companies. As a result, the Company’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies.

In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU

No. 2014-09

, Revenue from Contracts with Customers (Topic 606)

. This standard superseded the revenue recognition requirements in

ASC Topic 605,

Revenue Recognition (Topic 605)

and requires the recognition of revenue when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. Topic 606 also includes Subtopic

340-40,

Other Assets and Deferred Costs – Contracts with Customers,

which requires the deferral of incremental costs of obtaining a contract with a customer. This standard also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The Company adopted ASU

2014-09

beginning on January 1, 2019 using the modified retrospective method and increased retained earnings by $11.9 million.

The adjustment primarily relates to deferred contract costs, including incremental employee sales commissions and costs associated with customer implementations of $15.0 million and $0.9 million, respectively, offset by a tax deferral of $4.0 million. Under Topic 605, these costs were recognized as expense when incurred. Under Topic 606, the cost of all incremental commissions and customer implementations are deferred and amortized on a straight-line basis over the contract period, generally between three and five years.

Prior year amounts have not been adjusted and continue to be reported in accordance with the Company’s historical accounting policies.

The impact of adoption to the consolidated balance sheet at December 31, 2019 was as follows (in thousands):


				Balances without
	As reported			adoption of Topic 606			Effect of adoption
Assets
Deferred contract costs	$	10,807		$	—		$	10,807
Long-term deferred contract costs		12,463			—			12,463
Liabilities and stockholders’ equity
Deferred income taxes-net		333,472			327,572			5,900
Accumulated deficit		(112,494	)		(129,864	)		17,370

The impact of adoption to the December 31, 2019 consolidated statement of operations and comprehensive loss was as follows (in thousands, except per share data):


				Balances without
	As reported			adoption of Topic 606			Effect of adoption
Revenues	$	616,084		$	616,084		$	—
Cost of revenues		191,868			192,286			(418	)
Selling and marketing		82,109			88,912			(6,803	)
Operating loss		(166,202	)		(173,423	)		7,221
Income tax benefit		67,293			69,040			(1,747	)
Net loss		(210,340	)		(215,814	)		5,474
Net loss per share attributable to Class A and Class B common stockholders - basic and diluted	$	(142.28	)	$	(145.98	)	$	3.70

The adoption of Topic 606 had no impact to cash from or used in operating, financing or investing activities within the consolidated statements of cash flows.

Recently Issued Accounting Pronouncements

—In February 2016, the FASB issued ASU

No. 2016-02,

Leases (Topic

842)

, authoritative guidance to change the criteria for recognizing leasing transactions. Under the n

w guidance, a lessee will be required to recognize a lease liability for all leases with a term greater than 12 months in the consolidated balance sheet. The guidance is effective for the Company beginning on January 1, 2022. The Company is currently assessing the impact of this update on its consolidated financial statements.

In June 2016, the FASB issued ASU

No. 2016-13,

Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments

, and subsequent amendments to the initial guidance: ASU

2018-19,

ASU

2019-04,

ASU

2019-05,

and ASU

2020-03.

In March 2020, the FASB issued ASU

2020-04,

Reference

Rate

Reform

(Topic 848): Facilitation of the Effects of Reference

Rate

Reform

on Financial Reporting

(“ASU

2020-04”),

and in January 2021 subsequently issued ASU

2021-01

(“ASU

2021-01”),

2020-04

through December 31, 2022. The Company is evaluating the impact of the adoption of this guidance on its consolidated financial statements.

Initial Public Offering	6 Months Ended
Initial Public Offering	Jun. 30, 2021	Dec. 31, 2020
Initial Public Offering [Abstract]
Initial Public Offering	Note 3 — Initial Public Offering Pursuant to the Initial Public Offering, the Company sold 69,000,000 Units, which includes the full exercise by the underwriters of their over-allotment option in the amount of 9,000,000 Units, at purchase price of $10.00 per Unit. Each Unit consists of one Class A ordinary share and one-fifth of one redeemable warrant (“Public Warrant”). Each whole Public Warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per whole share (see Note 7).	NOTE 4 — INITIAL PUBLIC OFFERING Pursuant to the Initial Public Offering, the Company sold 69,000,000 Units, which includes the full exercise by the underwriters of their over-allotment option in the amount of 9,000,000 Units, at purchase price of $10.00 per Unit. Each Unit consists of one Class A ordinary share and one-fifth of one redeemable warrant (“Public Warrant”). Each whole Public Warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per whole share (see Note 9).

Revenue

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Disaggregation of Revenue [Line Items]

Revenue

REVENUE

The opening and closing balances of the Company’s receivables, contract assets and contract liabilities from contracts with customers are as follows (in thousands):


	June 30, 2021		December 31, 2020
Accounts receivables-Net of allowances	$	81,817	$	74,107
Deferred contract costs		12,681		11,917
Long-term deferred contract costs		15,986		14,389
Deferred revenues		28,824		26,514
Other liabilities (deferred revenues, non-current)		1,932		2,001

A summary of the activity impacting deferred revenue balances during the three and six months ended June 30, 2021 and 2020, is presented below (in thousands):


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2021			2020			2021			2020
Balance at beginning of period	$	30,109		$	27,874		$	28,515		$	26,256
Revenue recognized 1		(82,159	)		(71,159	)		(163,121	)		(148,065	)
Additional amounts deferred 1		82,806			71,963			165,362			150,487

Balance at end of period	$	30,756		$	28,678		$	30,756		$	28,678

1	Amounts include total revenue deferred and recognized during each respective period.

The Company may occasionally recognize an adjustment in revenue in the current p

riod for performance obligations partially or fully satisfied in the previous periods resulting from changes in estimates for the transaction price, including any changes to the Company’s assessment of whether an estimate of variable consideration is constrained. For the three and six months ended June 30, 2021 and 2020, the impact on revenue recognized in the current period, from performance obligations partially or fully satisfied in the previous period, was not significant.

A summary of the activity impacting the deferred contract costs during the three and six months ended June 30, 2021 and 2020 is presented below (in thousands):


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2021			2020			2021			2020
Balance at beginning of period	$	26,554		$	23,608		$	26,361		$	23,270
Costs amortized		(3,612	)		(2,957	)		(7,317	)		(6,053	)
Additional amounts deferred		5,725			3,433			9,623			6,867

Balance at end of period	$	28,667		$	24,084		$	28,667		$	24,084

Classified as:
Current	$	12,681		$	10,679		$	12,681		$	10,679
Non-current		15,986			13,405			15,986			13,405

Total deferred contract costs	$	28,667		$	24,084		$	28,667		$	24,084

REVENUE

On January 1, 2019, the Company adopted Topic 606, applying the modified retrospective method to all contracts that were not completed as of that date. Results for reporting periods beginning after January 1, 2019 are presented under Topic 606 while prior period results are not adjusted and continue to be reported under the accounting standards in effect for the prior period. There was no impact to revenue for the year ended December 31, 2019 as a result of adopting Topic 606.

The opening and closing balances of the Company’s receivables, contract assets and contract liabilities from contracts with customers are as follows (in thousands):


	December 31, 2020		December 31, 2019		January 1, 2019
Accounts receivables-Net of allowances	$	74,107	$	63,613	$	59,252
Deferred contract costs		11,917		10,807		6,526
Long-term deferred contract costs		14,389		12,463		9,432
Deferred revenues		26,514		25,096		22,787
Other liabilities (deferred revenues, non-current)		2,001		1,160		—

A summary of the activity impacting deferred revenue balances during the years ended December 31, 2020 and 2019 is presented below (in thousands):


	2020			2019
Balance at beginning of period	$	26,256		$	22,787
Revenue recognized 1		(305,812	)		(283,383	)
Additional amounts deferred 1		308,071			286,852

Balance at end of period	$	28,515		$	26,256

Amounts

include total revenue deferred and recognized during each respective period.

The Company may occasionally recognize an adjustment in revenue in the curr

nt period for performance obligations partially or fully satisfied in the previous periods resulting from changes in estimates for the transaction price, including any changes to the Company’s assessment of whether an estimate of variable consideration is constrained. For the years ended December 31, 2020 and 2019, the impact on revenue

recognized in the current period, from performance obligations partially or fully satisfied in the previous period, was not significant.

A summary of the activity impacting the deferred contract costs during the years ended December 31, 2020 and 2019 is presented below (in thousands):


	2020			2019
Balance at beginning of period	$	23,270		$	—
Adoption of ASC 606		—			15,958
Costs amortized		(12,446	)		(9,375	)
Additional amounts deferred		15,482			16,687

Balance at end of period	$	26,306		$	23,270

Classified as:
Current	$	11,917		$	10,807
Non-current		14,389			12,463

Total deferred contract costs	$	26,306		$	23,270

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
-Subparagraph (b)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Related Party Transactions

Private Placement	6 Months Ended
Private Placement	Jun. 30, 2021	Dec. 31, 2020
Private Placement [Abstract]
Private Placement	Note 4 — Private Placement Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 15,800,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant, for an aggregate purchase price of $15,800,000. Each Private Placement Warrant is exercisable to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment (see Note 7). A portion of the proceeds from the Private Placement Warrants were added to the proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period or any Extension Period, the proceeds from the sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless.	NOTE 5 — PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 15,800,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant, for an aggregate purchase price of $15,800,000. Each Private Placement Warrant is exercisable to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment (see Note 9). A portion of the proceeds from the Private Placement Warrants were added to the proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period or any Extension Period, the proceeds from the sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless.

Related Party Transactions

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Note 5 — Related Party Transactions

Founder Shares

In July 2020, the Sponsor paid $25,000 to cover certain offering and formation costs of the Company in consideration for 17,250,000 Class B ordinary shares (the “Founder Shares”). On July 23, 2020, the Sponsor transferred 75,000 Founder Shares to each of the Company’s directors. The Founder Shares included an aggregate of up to 2,250,000 shares that were subject to forfeiture depending on the extent to which the underwriters’ over-allotment option was exercised, so that the number of Founder Shares would equal, on an

as-converted

basis, 20% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering. As a result of the underwriters’ election to fully exercise their over-allotment option, 2,250,000 Founder Shares are no longer subject to forfeiture.

Each of the Company’s initial shareholders has agreed, subject to limited exceptions, not to transfer, assign or sell any of its Founder Shares until the earliest of: (A) one year after the completion of a Business Combination and (B) subsequent to a Business Combination, (x) if the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any

30-trading

day period commencing at least 120 days after a Business Combination, or (y) the date on which the Company completes a liquidation, merger, share exchange or other similar transaction that results in all of the Public Shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property.

Advances from Related Party

An affiliate of the Sponsor advanced the Company an aggregate of $1,404,979 to cover expenses related to the Initial Public Offering and for working capital purposes. The advances are

non-interest

bearing and due on demand. Advances in the aggregate amount of $19,458 were repaid during the six months ended June 30, 2021 and $1,383,191 were repaid during the year ended December 31, 2020. As of June 30, 2021 and December 31, 2020, advances in the aggregate amount of $2,330 and $17,703 are outstanding, respectively.

Promissory Note – Related Party

On July 10, 2020, the Company issued an unsecured promissory note (the “Promissory Note”) to the Sponsor, pursuant to which the Company could borrow up to an aggregate principal amount of $300,000. The Promissory Note was

non-interest

bearing and payable on the earlier of (i) December 31, 2020 and (ii) the completion of the Initial Public Offering. There were no outstanding borrowings under the Promissory Note as of June 30, 2021 and December 31, 2020.

Related Party Loans

In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the

Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes may be repaid upon completion of a Business Combination, without interest, or, at the lender’s discretion, up to $2,000,000 of notes may be converted upon completion of a Business Combination into warrants at a price of $1.00 per warrant. Such warrants would be identical to the Private Placement Warrants. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. As of December 31, 2020, the Company had no outstanding borrowings under the Working Capital Loans.

On January 19, 2021, the Company entered into a Working Capital Loan with the Sponsor pursuant to which the Sponsor agreed to loan the Company up to an aggregate principal amount of $2,000,000. The Working Capital Loan is

non-interest

bearing and due on the date on which the Company consummates a Business Combination. As of June 30, 2021, the outstanding balance under the Working Capital Loan amounted to $2,000,000.

The Company assessed the provisions of the Working Capital Loan under ASC

815-15.

The derivative component of the obligation is initially valued and classified as a derivative liability with an offset to debt discount. The Conversion Option was valued using a Black-Scholes Option Pricing Model, which is considered to be Level 3 fair value measurement (see Note 9).

The debt discount is being amortized to interest expense as a

non-cash

charge over the term of the Working Capital Loan, which is assumed to be June 2022, the Company’s initial expected Business Combination date. The Company initially recorded a debt discount, which is presented net of the Working Capital Loan on the accompanying condensed balance sheet, of $2,000,000. During the three and six months ended June 30, 2021, the Company recorded $1,000,000 and $2,000,000, respectively, of interest expense related to the amortization of the debt discount.

NOTE 6 — RELATED PARTY TRANSACTIONS

Founder Shares

as-converted

basis, approximately 20% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering. As a result of the underwriters’ election to fully exercise their over-allotment option, 2,250,000 Founder Shares are no longer subject to forfeiture.

30-trading

Advances from Related Party

An affiliate of the Sponsor advanced the Company an aggregate of $1,400,894 to cover expenses related to the Initial Public Offering and for working capital purposes. The advances are

non-interest

bearing and due on demand. Advances in the aggregate amount of $1,383,191 were repaid during the period ended December 31, 2020. As of December 31, 2020, advances in the aggregate amount of $17,703 are outstanding.

Promissory Note – Related Party

non-interest

bearing and payable on the earlier of (i) December 31, 2020 or (ii) the completion of the Initial Public Offering. There were no outstanding borrowings under the Promissory Note as of December 31, 2020.

Related Party Loans

On January 19, 2021, the Company entered into a convertible promissory note with the Sponsor pursuant to which the Sponsor agreed to loan the Company up to an aggregate principal amount of $2,000,000 (the “Convertible Promissory Note”) (see Note 11).

Related Party Transactions

22.	RELATED PARTIES

The Company reimburses its principal equity owners for services and any related travel and

out-of-pocket

expenses. During the three months ended June 30, 2021, and 2020, the Company had expenses for services, travel and

out-of-pocket

expenses to its principal equity owners of $50 thousand and $47 thousand, respectively. During the six months ended June 30, 2021 and 2020, the Company had expenses for services, travel and

out-of-pocket

expenses to its principal equity owners of $0.1 million.

The Company has engaged in transactions within the ordinary course of business with entities affiliated with one of its principal equity owners. The Company incurred expenses for human resource support services of $0.1 million and $0.05 million during the three and six months ended June 30, 2021 and 2020, respectively. The associated payable for the human resource support services was de minimis at June 30, 2021 and December 31, 2020.

Additionally, the Company incurred expenses for employee health insurance benefits of $0.8 million during the three months ended June 30, 2021 and $1.6 million during the six months ended June 30, 2021. At June 30, 2021, the associated payable was $0.2 million. The affiliated entity providing employee health insurance benefits was not a related party prior to January 2021.

The Company recognized revenue from a customer that is affiliated with one of its principal equity owners. The Company recognized revenue of $0.1 million during the three and six months ended June 30, 2021. Revenue recognized during the three and six months ended June 30, 2020 was de minimis. At June 30, 2021 and 2020, the associated receivables were de minimis.

In June 2021, the Company completed a strategic investment in a technology company (the “Investee”) in which the Company invested $10.0 million, plus related fees and expenses, for approximately 7% interest of a limited partnership. The limited partnership is affiliated with one of the Company’s principal equity owners, and indirectly holds an interest in the Investee (see Note 11). The Company reimbursed its principal equity owner $0.2 million for its pro rata portion of related fees and expenses.

In January 2021, the Company issued 325 shares of Class B common stock to a board member for aggregate cash proceeds of $1.0 million.

During the year ended December 31, 2020, the Company entered into a note receivable for $0.7 million with an executive. The outstanding balance was repaid in full during February 2021. Prior to repayment, the note receivable bore interest at 1.58% per annum and required semiannual interest payments through the maturity date in February 2023. At December 31, 2020, the note receivable balance was $0.7 million and was recorded within other assets on the Company’s condensed consolidated balance sheet.

20.	RELATED PARTIES

The Company reimburses its private equity sponsors for services and any related travel and

out-of-pocket

expenses. During the years ended December 31, 2020, 2019 and 2018, the Company had expenses for services, travel and

out-of-pocket

expenses to its private equity sponsors of $0.2 million, $0.1 million and $0.3 million, respectively.

The Company has engaged in transactions for human resource support services within the ordinary course of business with an entity affiliated with one of its private equity sponsors, one of which was for services of $0.2 million during the years ended December 31, 2020, 2019 and 2018. The associated payable for the service transactions was de minimis at December 31, 2020 and 2019.

During the year ended December 31, 2020, the Company entered into a note receivable for $0.7 million with an executive. The note receivable bears interest at 1.58% per annum and requires semiannual interest payments through the maturity date in February 2023, at which time all outstanding principal and interest is due. At December 31, 2020, the note receivable balance is $0.7 million and was recorded within other assets on the Company’s consolidated balance sheet. The outstanding balance was repaid in full during February 2021.

During the year ended December 31, 2018, a dividend of $50.0 million was declared and paid to the Company’s stockholders.

Commitments

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Note 6 — Commitments and Contingencies

Risks and Uncertainties

Management continues to evaluate the impact of the

COVID-19

pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Registration and Shareholder Rights

Pursuant to a registration rights agreement entered into on August 13, 2020, the holders of the Founder Shares, Private Placement Warrants and any warrants that may be issued upon exercise of the Forward Purchase Agreement and conversion of Working Capital Loans (and any Class A ordinary shares issuable upon the exercise of the Private Placement Warrants and warrants that may be issued upon conversion of the Working Capital Loans) will be entitled to registration rights pursuant to a registration and shareholder rights agreement. The holders of these securities will be entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of a Business Combination. However, the

registration and shareholder rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable

lock-up

period. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

The underwriters were paid a cash underwriting discount of $0.20 per Unit, or $13,800,000 in the aggregate. In addition, the underwriters are entitled to a deferred fee of $0.35 per Unit, or $24,150,000 in the aggregate. The deferred fee will be forfeited by the underwriters in the event that the Company fails to complete a Business Combination, subject to the terms of the underwriting agreement.

Forward Purchase Agreements

On July 24, 2020 and August 12, 2020, the Company entered into two respective forward purchase agreements which provide for the purchase by each of Dragoneer Funding LLC and entities managed by or associated with Willett Advisors LLC of up to a combined aggregate of 17,500,000 units (the “forward purchase units”), with each unit consisting of one Class A ordinary share and

one-fifth

of one warrant to purchase one Class A ordinary share for $10.00 per unit, or $175,000,000 in the aggregate, in a private placement to close substantially concurrently with the closing of a Business Combination.

The obligations under the forward purchase agreements will not depend on whether any public shareholders elect to redeem their shares and provide a minimum funding level for the initial Business Combination. The forward purchase shares and forward purchase warrants will be identical to the Class A ordinary shares and warrants, respectively, included in the Units sold in the Initial Public Offering, except that they will be subject to certain registration rights.

Business Combination Agreement

On February 2, 2021, the Company entered into a business combination agreement (the “Business Combination Agreement”) as amended on April 22, 2021 by Amendment No. 1 to the Business Combination Agreement and on July 6, 2021 by Amendment No. 2 to Business Combination Agreement), by and among the Company, Chariot Merger Sub and CCC. The Domestication, the Merger and the other transactions contemplated by the Business Combination Agreement are hereinafter referred to as the “Business Combination”.

The Business Combination Agreement provides for, among other things, the following transactions on the closing date: (i) the Company will become a Delaware corporation (the “Domestication”) and, in connection with the Domestication, (A) the Company’s name will be changed as determined by CCC in its sole discretion, (B) each outstanding Class A ordinary share of the Company and each outstanding Class B ordinary share of the Company will become one share of common stock of the Company (the “Dragoneer Common Stock”), and (C) each outstanding whole warrant of the Company will become one warrant to purchase one share of Dragoneer Common Stock; and (ii) following the Domestication, Chariot Merger Sub will merge with and into CCC, with CCC as the surviving company in the merger and, after giving effect to such merger, continuing as a wholly owned subsidiary of the Company (the “Merger”).

such investors, on the Closing Date (as defined in the Business Combination Agreement) immediately following the Closing (as defined in the Business Combination Agreement), an aggregate of 15,000,000 shares of Dragoneer Common Stock for a purchase price of $10.00 per share, for aggregate gross proceeds of $150,000,000.

NOTE 7 — COMMITMENTS AND CONTINGENCIES

Risks and Uncertainties

Management continues to evaluate the impact of the

COVID-19

pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Registration and Shareholder Rights

Pursuant to a registration rights agreement entered into on August 13, 2020, the holders of the Founder Shares, Private Placement Warrants and any warrants that may be issued upon conversion of Working Capital Loans (and any Class A ordinary shares issuable upon the exercise of the Private Placement Warrants and warrants that may be issued upon conversion of the Working Capital Loans) will be entitled to registration rights pursuant to a registration and shareholder rights agreement. The holders of these securities will be entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of a Business Combination. However, the registration and shareholder rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable

lock-up

period. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

Forward Purchase Agreements

On July 24, 2020 and August 12, 2020, the Company entered into two respective forward purchase agreements which provide for the purchase by each of Dragoneer Funding LLC (“Dragoneer Funding”) and

entities managed by or associated with certain affiliates of Willett Advisors LLC of up to a combined aggregate of 17,500,000 units (the “forward purchase units”), with each unit consisting of one Class A ordinary share and

one-fifth

20.	COMMITMENTS

Purchase Obligations

During February 2021, the Company entered into a purchase agreement with a supplier. The agreement includes minimum purchase commitments of $15.5 million, $7.1 million, and $6.9 million during the twelve-month periods ending February 28, 2022, February 28, 2023, and February 29, 2024, respectively. As of June 30, 2021, there were no other material changes from the amounts disclosed as of December 31, 2020.

Employment Agreements

—The Company is a party to employment agreements with key employees that provide for compensation and certain other benefits. These agreements also provide for severance payments and bonus under certain circumstances.

18.	COMMITMENTS

Operating Leases

—The Company leases facilities and office equipment under noncancelable operating lease agreements that expire at various dates through 2037. As of December 31, 2020, future minimum cash lease payments are as follows (in thousands):


	2021		2022		2023		2024		2025		Thereafter		Total

Operating leases	$	7,143	$	6,090	$	5,180	$	7,059	$	7,243	$	68,415	$	101,130

During the years ended December 31, 2020, 2019 and 2018, operating lease rental expenses were $9.7 million, $9.5 million and $8.3 million, respectively.

In June 2020, the Company entered into a lease agreement to lease a new office facility for its corporate headquarters in Chicago. Cash rent payments are due beginning in May 2023 and total $80.5 million over the lease term.

Purchase Obligations

—The Company has long-term agreements with suppliers and other parties related to licensing data used in its products and services, outsourced data center, disaster recovery, and software as a service that expire at various dates through 2031. Under the terms of these agreements with suppliers, the Company has future minimum obligations as of December 31, 2020, as follows (in thousands):


	2021		2022		2023		2024		2025		Thereafter		Total

Purchase obligations	$	17,069	$	14,669	$	9,900	$	9,900	$	9,900	$	59,400	$	120,838

Employment Agreements

Income Taxes

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Income Tax Disclosure [Line Items]

Income Taxes

5.	INCOME TAXES

The Company’s effective tax rate for the three months ended June 30, 2021 was 38.4% compared to the effective tax rate for the three months ended June 30, 2020 of 14.4%.

The effective tax rate for the three months ended June 30, 2021 was higher than the June 30, 2020 effective tax rate primarily due to a higher tax expense from enacted state apportionment and rate changes in the current period versus the prior period, as well as the prior period benefit being limited to the amount that would be recognized if the

year-to-date

ordinary loss were the anticipated ordinary loss for the fiscal year.

The Company made income tax payments of $6.5 million and $1.1 million for the three months ended June 30, 2021 and 2020, respectively. The Company received negligible refunds from the Internal Revenue Service and various states for the three months ended June 30, 2021, and $1.4 million for the three months ended June 30, 2020.

The Company’s effective tax rate for the six months ended June 30, 2021 was 35.6% compared to the effective tax rate for the six months ended June 30, 2020 of 26.3%.

The effective tax rate for the six months ended June 30, 2021 was higher than the June 30, 2020 effective tax rate primarily due to higher tax benefits from enacted state apportionment and rate changes in the current period versus the prior period, as well as the prior period benefit being limited to the amount that would be recognized if the

year-to-date

ordinary loss were the anticipated ordinary loss for the fiscal year.

The Company made income tax payments of $10.4 million and $1.1 million for the six months ended June 30, 2021 and 2020, respectively. The Company received refunds from the Internal Revenue Service and various states totaling $16 thousand and $1.4 million for the six months ended June 30, 2021, and 2020, respectively.

As of June 30, 2021, unrecognized tax benefits were materially consistent with the amount at December 31, 2020. We anticipate this amount will increase to $3.6 million by December 31, 2021; however, due to the various jurisdictions in which the Company files tax returns, it is possible that there could be significant changes in the amount of unrecognized tax benefits in 2021.

5.	INCOME TAXES

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law. The CARES Act includes provisions relating to refundable payroll tax credits, deferment of the employer portion of certain payroll taxes, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property.

Under ASC 740,

Income Taxes

, the effects of the new legislation are recognized in the period of enactment. Therefore, the effects of the CARES Act are recognized during the year ended December 31, 2020. The modification to the net interest deduction limitation resulted in a benefit of $16.8 million during the year ended December 31, 2020. The other provisions of the CARES Act did not result in a material impact on the Company’s provision for income taxes for the year ended December 31, 2020.

The components of pretax loss attributable to domestic and foreign operations are as follows (in thousands):


	Years Ended December 31,
	2020			2019			2018
Domestic	$	(15,117	)	$	(270,428	)	$	(51,102	)
Foreign		(6,438	)		(7,205	)		(6,952	)

Pretax loss	$	(21,555	)	$	(277,633	)	$	(58,054	)

The income tax benefit consists of the following (in thousands):


	Years Ended December 31,
	2020			2019			2018
Current provision (benefit):
Federal	$	1,539		$	13,685		$	(1,083	)
State		4,906			3,302			1,809

Total current provision		6,445			16,987			726

Deferred provision (benefit):
Federal		(7,536	)		(67,874	)		(11,699	)
State		(3,588	)		(16,406	)		7,950
Foreign		(1,710	)		(1,873	)		(281	)
Change in valuation allowance		1,710			1,873			281

Total deferred benefit		(11,124	)		(84,280	)		(3,749	)

Total income tax benefit	$	(4,679	)	$	(67,293	)	$	(3,023	)

The Company’s effective income tax rate differs from the federal statutory rate as follows (in thousands, except percentages):


	Year Ended					Year Ended					Year Ended
	December 31, 2020					December 31, 2019					December 31, 2018
Federal income tax benefit at statutory rate	$	(4,527	)	21.0	%	$	(58,303	)	21.0	%	$	(12,191	)	21.0	%
State and local taxes-net of federal income tax effect		288		(1.3	)		(13,797	)	5.0			9,378		(16.2	)
Impairment of goodwill		—		—			5,417		(2.0	)		—		—
Foreign rate difference		(227	)	1.1			(284	)	0.1			(272	)	0.5
Research and experimental credit		(3,058	)	14.2			(2,401	)	0.9			(1,926	)	3.3
Other nondeductible expenses		812		(3.8	)		441		(0.2	)		445		(0.8	)
Uncertain tax positions		589		(2.7	)		574		(0.2	)		230		(0.4	)
Valuation allowance		1,572		(7.3	)		1,926		(0.7	)		1,480		(2.5	)
Other—net		(128	)	0.5			(866	)	0.3			(167	)	0.3

Income tax benefit	$	(4,679	)	21.7	%	$	(67,293	)	24.2	%	$	(3,023	)	5.2	%

The Company made income tax payments of $9.5 million, $18.4 million and $3.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. The Company received refunds from the Internal Revenue S

rvice and various states totaling $10.4 million, $0.5 million and $1.8 million, for the years ended December 31, 2020, 2019 and 2018, respectively.

The approximate income tax effect of each type of temporary difference giving rise to deferred income tax assets and liabilities as of December 31, 2020 and 2019 was as follows (in thousands):


	2020			2019

Deferred income tax assets:
Accrued compensation	$	7,020		$	7,848
Net operating losses—foreign		9,347			7,637
Stock-based compensation		6,558			4,399
Research and experimental credit		2,005			1,352
Sales allowances and doubtful accounts		1,074			1,008
Capitalized acquisition costs		211			238
Net operating losses—domestic (state)		716			726
Disallowed interest expense		2,086			16,324
Interest rate swaps		4,685			1,301
Other		2,474			732


Total deferred income tax assets		36,176			41,565

Valuation allowance for deferred tax asset		(9,347	)		(7,637	)


Net deferred income tax assets		26,829			33,928


Deferred income tax liabilities:
Intangible asset amortization		331,941			354,628
Software, equipment and property depreciation and amortization		10,526			6,872
Deferred contract costs		6,710			5,900


Total deferred income tax liabilities		349,177			367,400


Net deferred income tax liabilities	$	322,348		$	333,472

Valuation Allowance

—The Company has accumulated net operating losses related to its foreign subsidiaries of $9.3 million and $7.6 million at December 31, 2020 and 2019, respectively. A valuation allowance equal to 100% of the related tax benefit has been established as of December 31, 2020 and 2019. The valuation allowance increased $1.7 million, $1.4 million and $0.3 million during the years ended December 31, 2020, 2019 and 2018, respectively, due to the net operating losses of the foreign subsidiaries. No amounts were released during the years ended December 31, 2020, 2019 and 2018. The net operating losses are set to expire in 2020 through 2025 as China allows for a five-year carryforward.

The state net operating losses of $0.7 million are expected to be more likely than not fully utilized. The majority of the state losses were generated in the partial period after the Acquisition of the Company in April 2017 and will start to expire in 2021. Most states allow for a

20-year

carryforward of net operating losses. All losses will expire by 2037 if not fully utilized.

The change in unrecognized tax benefits excluding interest and penalties for the years ended December 31, 2020 and 2019 was as follows (in thousands):


	2020			2019
Balance at beginning of year	$	2,306		$	1,508
Additions based on tax positions related to the current year		719			589
Additions based on true ups to tax positions of prior years		91			248
Reductions for tax positions of prior years		(71	)		(39	)

Balance at end of year	$	3,045		$	2,306

As of December 31, 2020, the Company believes the liability for unrecognized tax benefits, excluding interest and penalties, could decrease by approximately $14 thousand in 2021 due to lapses in the statute of limitations. Due to the various jurisdictions in which the Company files tax returns, it is possible that there could be significant changes in the amount of unrecognized tax benefits in 2021, but the amount cannot be reasonably estimated.

The Company recognizes interest and penalties related to unrecognized tax benefits in income tax expense. As of December 31, 2020, and 2019, the amount accrued for interest and penalties was not material. The Company reflects the liability for unrecognized tax benefits as current income tax liabilities in its consolidated balance sheets. The amounts included in “reductions for tax positions of prior years” represent decreases in the unrecognized tax benefits relating to settlements reached with taxing authorities during each year shown.

With few exceptions, the major jurisdictions subject to examination by the relevant tax authorities and open tax years, stated as the Company’s fiscal years, are as follows:


Jurisdiction		Open Tax Years
US Federal		2017 - 2019
US States		2017 - 2019
China		2017 - 2019
Canada		2017 - 2019

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Accounts Receivable

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Financing Receivable, Allowance for Credit Loss [Line Items]

Accounts Receivable

6.	ACCOUNTS RECEIVABLE

Accounts receivable–net as of June 30, 2021 and December 31, 2020, consists of the following (in thousands):


	June 30, 2021			December 31, 2020
Accounts receivable	$	86,035		$	78,331
Allowance for doubtful accounts and sales reserves		(4,218	)		(4,224	)

Accounts receivable–net	$	81,817		$	74,107

Changes to the allowance for doubtful accounts and sales reserves during the three and six months ended June 30, 2021 and 2020, consists of the following (in thousands):


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2021			2020			2021			2020
Balance at beginning of period	$	3,931		$	4,482		$	4,224		$	3,970
Charges to bad debt and sales reserves		640			618			1,706			1,863
Write-offs, net		(353	)		(1,182	)		(1,712	)		(1,915	)

Balance at end of period	$	4,218		$	3,918		$	4,218		$	3,918

6.	ACCOUNTS RECEIVABLE

Accounts receivable–net as of December 31, 2020 and 2019, consists of the following (in thousands):


	2020			2019

Accounts receivable	$	78,331		$	67,583
Allowance for doubtful accounts and sales reserves		(4,224	)		(3,970	)


Accounts receivable–net	$	74,107		$	63,613

Changes to the allowance for doubtful accounts and sales reserves during the y

ars ended December 31, 2020, 2019 and 2018, consists of the following (in thousands):


	2020			2019			2018
Balance at beginning of period	$	3,970		$	3,024		$	6,472
Charges to bad debt and sales reserves		3,814			3,113			2,375
Write-offs, net		(3,560	)		(2,167	)		(5,823	)


Balance at end of period	$	4,224		$	3,970		$	3,024

Other Current Assets

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Prepaid Expense And Other Assets Current [Line Items]

Other Current Assets

7.	OTHER CURRENT ASSETS

Other current assets as of June 30, 2021 and December 31, 2020, consist of the following (in thousands):


	June 30, 2021		December 31, 2020
Prepaid software and equipment maintenance	$	5,824	$	7,499
Prepaid SaaS costs		4,740		4,290
Prepaid service fees		3,105		3,969
Non-trade receivables		8,137		9,095
Deferred business combination costs		2,950		—
Other		8,768		6,733

Total	$	33,524	$	31,586

On December 31, 2020, the Company executed an Asset Purchase Agreement with a third-party buyer to transfer its obligation of providing certain services included within existing customer contracts to the third-party buyer. The Company recognized a gain on divestiture of $3.8 million, included within

non-trade

receivables (see Note 25). The Company received payments of $1.8 million, $0.4 million and $0.7 million from the third-party buyer in January 2021, April 2021 and August 2021, respectively.

7.	OTHER CURRENT ASSETS

Other current assets as of December 31, 2020 and 2019, consist of the following (in thousands):


	2020		2019

Prepaid software and equipment maintenance	$	7,499	$	7,491
Prepaid SaaS costs		4,290		3,913
Prepaid service fees		3,969		4,256
Non-trade receivables		9,095		1,144
Other		6,733		4,511


Total	$	31,586	$	21,315

non-trade

receivables (see Note 23).

Software, Equipment, And Property

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Property, Plant and Equipment [Line Items]

Software, Equipment, And Property

8.	SOFTWARE, EQUIPMENT, AND PROPERTY

Software, equipment, and property as of June 30, 2021 and December 31, 2020, consist of the following (in thousands):


	June 30, 2021			December 31, 2020
Software, licenses and database	$	125,269		$	109,967
Computer equipment		29,510			27,733
Leasehold improvements		14,005			13,397
Furniture and other equipment		4,982			5,000
Building and land		4,910			4,910

Total software, equipment, and property		178,676			161,007

Less accumulated depreciation and amortization		(70,036	)		(59,569	)

Net software, equipment, and property	$	108,640		$	101,438

Depreciation and amortization expense related to software, equipment and property was $5.3 million and $4.2 million for the three months ended June 30, 2021 and 2020, respectively. Depreciation and amortization expense related to software, equipment and property was $10.5 million and $8.5 million for the six months ended June 30, 2021 and 2020, respectively.

8.	SOFTWARE, EQUIPMENT, AND PROPERTY

Software, equipment, and property as of December 31, 2020 and 2019, consist of the following (in thousands):


	2020			2019

Software, licenses and database	$	109,967		$	91,111
Computer equipment		27,733			22,229
Leasehold improvements		13,397			10,085
Furniture and other equipment		5,000			3,610
Building and land		4,910			4,910


Total software, equipment, and property		161,007			131,945

Less accumulated depreciation and amortization		(59,569	)		(42,441	)


Net software, equipment, and property	$	101,438		$	89,504

Depreciation and amortization expense related to software, equipment and property was $17.7 million, $18.4 million and $14.7 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Leases

6 Months Ended

Jun. 30, 2021

Leases [Line Items]

Leases

LEASES

The Company leases real estate in the form of office space and data center facilities. The Company additionally leases equipment in the form of information technology equipment. Generally, the term for real estate leases ranges from 1 to 17 years at inception of the contract. Generally, the term for equipment leases is 1 to 3 years at inception of the contract. Some real estate leases include options to renew that can extend the original term by 5 to 10 years.

Operating lease costs are included within cost of revenues, exclusive of amortization of acquired technologies, research and development and general and administrative expenses on the condensed consolidated statements of operations and comprehensive income (loss). The Company does not have any finance leases.

The components of lease expense for the three and six months ended June 30, 2021 were as follows (in thousands):


	For the Three Months Ended June 30, 2021		For the Six Months Ended June 30, 2021
Operating lease costs	$	4,542	$	9,136
Variable lease costs		461		1,063

Total lease costs	$	5,003	$	10,199

The lease term and discount rate consisted of the following at June 30, 2021:


Weighted-average remaining lease term (years)	11.1
Weighted-average discount rate	6.1	%

Supplemental cash flow and other information related to leases for the three and six months ended June 30, 2021 were as follows (in thousands):


	For the Three Months Ended June 30, 2021		For the Six Months Ended June 30, 2021
Cash payments for operating leases	$	3,030	$	5,998
Operating lease assets obtained in exchange for lease liabilities		2,365		2,365

The table below reconciles the undiscounted future minimum lease payments (in thousands) under noncancelable operating leases with terms of more than one year to the total operating lease liabilities recognized on the condensed consolidated balance sheet as of June 30, 2021.


Years Ending December 31:

Remainder of 2021	$	5,506
2022		8,599
2023		6,092
2024		7,195
2025		7,243
Thereafter		68,416

Total Lease Payments		103,051
Less: Interest		(35,299	)
Less: Lease incentive recognized as offset to lease liability		(16,868	)

Total	$	50,884

During the year ended December 31, 2020, the Company entered into a new operating lease agreement for its corporate headquarters in Chicago, Illinois. The lease term commenced in January 2021 and included a landlord provided tenant improvement allowance of up to $16.9 million to be applied to the costs of the construction of leasehold improvements. The Company determined that it owns the leasehold improvements, and as such, reflects the $16.9 million lease incentive as a reduction of the rental payments used to measure the operating lease liability and operating lease asset as of the lease commencement date in January 2021. The Company will record an increase to the operating lease liability and to leasehold improvements as and when such leasehold improvements are paid for by the lessor.

Under ASC 840, rent expense was $2.2 million during the three months ended June 30, 2020 and $4.5 million during the six months ended June 30, 2020. The Company’s noncancelable operating lease agreements required future minimum cash lease payments as follows at December 31, 2020 (in thousands):


Years Ending December 31:

2021	$	7,143
2022		6,090
2023		5,180
2024		7,059
2025		7,243
Thereafter		68,415

Total	$	101,130

Goodwill and Intangible Assets

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Goodwill and Intangible Assets

Goodwill [Line Items]

10.	GOODWILL AND INTANGIBLE ASSETS

Goodwill

—Goodwill was recorded in connection with the Acquisition of the Company in 2017.

No goodwill impairments were recorded during the three and six months ended June 30, 2021 and 2020.

For the year ended December 31, 2020, the Company performed its annual impairment assessment as of September 30, 2020, which indicated no impairment and there was no change to the carrying amount of goodwill.

Intangible Assets

—The Company’s intangible assets are primarily the result of the Acquisition of the Company in 2017.

During the three and six months ended June 30, 2021 and 2020, the Company did not record an impairment charge.

The intangible assets balance as of June 30, 2021, is reflected below (in thousands):


	Estimated Useful Life (Years)		Weighted- Average Remaining Useful Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets:
Customer relationships		16–18		13.8	$	1,299,750	$	(301,699	)	$	998,051
Acquired technologies		3–7		2.8		183,160		(109,158	)		74,002
Favorable lease terms		6		1.8		280		(195	)		85

Subtotal						1,483,190		(411,052	)		1,072,138
Trademarks—indefinite life						190,470		—			190,470

Total intangible assets					$	1,673,660	$	(411,052	)	$	1,262,608

The intangible assets balance as of December 31, 2020, is reflected below (in thousands):


	Estimated Useful Life (Years)		Weighted- Average Remaining Useful Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets:
Customer relationships		16–18		14.3	$	1,299,750	$	(265,567	)	$	1,034,183
Acquired technologies		3–7		3.3		183,154		(95,998	)		87,156
Favorable lease terms		6		2.3		280		(172	)		108

Subtotal						1,483,184		(361,737	)		1,121,447
Trademarks—indefinite life						190,470		—			190,470

Total intangible assets					$	1,673,654	$	(361,737	)	$	1,311,917

Amortization expense for intangible assets was $24.7 million for the three months ended June 30, 2021 and 2020. Amortization expense for intangible assets was $49.3 million for the six months ended June 30, 2021 and 2020.

Future amortization expense for the remainder of the year ended December 31, 2021 and the following four years ended December 31 and thereafter for intangible assets as of June 30, 2021, is as follows (in thousands):


Years Ending December 31:
2021	$	49,318
2022		98,627
2023		98,333
2024		80,731
2025		72,263
Thereafter		672,866

Total	$	1,072,138

9.	GOODWILL AND INTANGIBLE ASSETS

Goodwill

—Goodwill was recorded in connection with the Acquisition of the Company in 2017.

For the year ended December 31, 2020, the Company performed its annual impairment assessment as of September 30, 2020, which indicated no impairment and there was

change to the carrying amount of goodwill.

During the year ended December 31, 2019, the Company performed its annual goodwill impairment test as of September 30, 2019, by comparing the fair value of each reporting unit to its carrying value, including goodwill. When performing the assessment, the Company determined the fair value of its reporting units based on forecasted future cash flow. Based on the Company’s forecast which included downward revisions to future projected earnings and cash flows of one of its reporting units, it was determined that the carrying value of goodwill for that reporting unit was impaired. As a result, the Company recorded an impairment charge to goodwill of $25.8 million.

The Company used a quantitative approach to measure the fair value of its reporting units in 2019 using a discounted cash flow approach, which is a Level 3 measurement. The discounted cash flow analysis requires significant judgments, including estimates of future cash flows, which are dependent on internal forecasts and determination of the Company’s weighted average cost of capital, which is risk-adjusted to reflect the specific risk profile of the reporting unit being tested. Upon completion of the analysis, the fair value of one of its reporting units was substantially less than the carrying value, resulting in an impairment of goodwill for that reporting unit. The weighted average cost of capital used for the impaired reporting unit in the Company’s analysis was 11.5%.

For the year ended December 31, 2018, the Company performed its annual impairment assessment as of September 30, 2018, which indicated no impairment and there was no change to the carrying amount of goodwill.

Changes in the carrying amount of goodwill were as follows (in thousands):


Reconciliation of Goodwill carrying amount	Cost		Accumulated Impairment Loss			Net Carrying Value
Balance as of December 31, 2020	$	1,492,681	$	(25,797	)	$	1,466,884
Balance as of December 31, 2019		1,492,681		(25,797	)		1,466,884

Intangible Assets

—The Company’s intangible assets are primarily the result of the Acquisition of the Company in 2017.

During the year ended December 31, 2020, the Company did not record an impairment charge.

During the year ended December 31, 2019, the Company recorded an impairment charge to one of its reporting unit’s Customer Relationships and Acquired Technology intangible assets. The Company’s forecasted future revenue and expense cash flow projections indicated the carrying amounts of the intangible assets were not recoverable and therefore the Company recorded an impairment charge of $181.3 million.

In December 2019, the Company entered into an asset purchase agreement and acquired technology, for $0.8 million, which will be amortized on a straight-line basis over three years.

During the year ended December 31, 2018, the Company did not record an impairment charge.

The intangible assets balance as of December 31, 2020, is reflected below (in thousands):


	2020
	Estimated Useful Life (Years)		Weighted- Average Remaining Useful Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount

Intangible assets:
Customer relationships		16–18		14.3	$	1,299,750	$	(265,567	)	$	1,034,183
Acquired technologies		3–7		3.3		183,154		(95,998	)		87,156
Favorable lease terms		6		2.3		280		(172	)		108


Subtotal						1,483,184		(361,737	)		1,121,447

Trademarks—indefinite life						190,470		—			190,470


Total intangible assets					$	1,673,654	$	(361,737	)	$	1,311,917

The intangible assets balance as of December 31, 2019, is reflected below (in thousands):


	2019
	Estimated Useful Life (Years)		Weighted- Average Remaining Useful Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount

Intangible assets:
Customer relationships		16–18		15.3	$	1,299,750	$	(193,304	)	$	1,106,446
Acquired technologies		3–7		4.3		183,141		(69,695	)		113,446
Favorable lease terms		6		3.3		280		(125	)		155


Subtotal						1,483,171		(263,124	)		1,220,047

Trademarks—indefinite life						190,470		—			190,470


Total intangible assets					$	1,673,641	$	(263,124	)	$	1,410,517

Amortization expense for intangible assets was $98.6 million, $109.1 million and $112.7 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Future amortization expense for each of the next five years and thereafter for intangible assets as of December 31, 2020, is as follows (in thousands):


Years Ending December 31

2021	$	98,627
2022		98,627
2023		98,333
2024		80,731
2025		72,263
Thereafter		672,866


Total	$	1,121,447

Equity Method Investment

6 Months Ended

Jun. 30, 2021

Schedule of Equity Method Investments [Line Items]

Equity Method Investment

11.	EQUITY METHOD INVESTMENT

In June 2021, the Company completed an investment in a technology company (the “Investee”). The Company invested $10.2 million, including related fees and expenses, for an approximately 7% interest of a limited partnership, which is affiliated with one of the Company’s private equity sponsors, and indirectly holds an interest in the Investee.

As of June 30, 2021, the change in the carrying value of the investment is summarized below as follows (in thousands):


	Equity Method Investment
Equity method investment carrying value at December 31, 2020	$	—
Cash contributions		10,228
Share of net income (loss) from the Investee		—

Equity method investment carrying value at June 30, 2021	$	10,228

Accrued Expenses

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Payables And Accruals [Line Items]

Accrued Expenses

12.	ACCRUED EXPENSES

Accrued expenses as of June 30, 2021 and December 31, 2020, consist of the following (in thousands):


	June 30, 2021		December 31, 2020
Compensation	$	32,439	$	37,696
Professional services		13,530		2,753
Royalties and licenses		2,602		2,301
Sales tax		2,503		2,294
Employee insurance benefits		2,130		1,979
Software license agreement		1,917		—
Other		3,272		5,964

Total	$	58,393	$	52,987

10.	ACCRUED EXPENSES

Accrued expenses as of December 31, 2020 and 2019, consist of the following (in thousands):


	2020		2019

Compensation	$	37,696	$	35,316
Professional services		2,753		2,288
Royalties and licenses		2,301		3,128
Sales tax		2,294		2,057
Employee insurance benefits		1,979		1,681
Other		5,964		8,662


Total	$	52,987	$	53,132

Commitments and Contingencies

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Note 6 — Commitments and Contingencies

Risks and Uncertainties

Management continues to evaluate the impact of the

COVID-19

Registration and Shareholder Rights

lock-up

period. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

Forward Purchase Agreements

one-fifth

Business Combination Agreement

NOTE 7 — COMMITMENTS AND CONTINGENCIES

Risks and Uncertainties

Management continues to evaluate the impact of the

COVID-19

pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Registration and Shareholder Rights

Pursuant to a registration rights agreement entered into on August 13, 2020, the holders of the Founder Shares, Private Placement Warrants and any warrants that may be issued upon conversion of Working Capital Loans (and any Class A ordinary shares issuable upon the exercise of the Private Placement Warrants and warrants that may be issued upon conversion of the Working Capital Loans) will be entitled to registration rights pursuant to a registration and shareholder rights agreement. The holders of these securities will be entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the completion of a Business Combination. However, the registration and shareholder rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable

lock-up

period. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

Forward Purchase Agreements

On July 24, 2020 and August 12, 2020, the Company entered into two respective forward purchase agreements which provide for the purchase by each of Dragoneer Funding LLC (“Dragoneer Funding”) and

one-fifth

20.	COMMITMENTS

Purchase Obligations

Employment Agreements

18.	COMMITMENTS

Operating Leases


	2021		2022		2023		2024		2025		Thereafter		Total

Operating leases	$	7,143	$	6,090	$	5,180	$	7,059	$	7,243	$	68,415	$	101,130

During the years ended December 31, 2020, 2019 and 2018, operating lease rental expenses were $9.7 million, $9.5 million and $8.3 million, respectively.

Purchase Obligations


	2021		2022		2023		2024		2025		Thereafter		Total

Purchase obligations	$	17,069	$	14,669	$	9,900	$	9,900	$	9,900	$	59,400	$	120,838

Employment Agreements

Shareholders' Equity	6 Months Ended
Shareholders' Equity	Jun. 30, 2021	Dec. 31, 2020
Equity [Abstract]
Shareholders' Equity	Note 7 — Shareholders’ Equity Preference Shares —The Company is authorized to issue 1,000,000 preference shares with a par value of $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. As of June 30, 2021 and December 31 ,2020, there were no preference shares issued or outstanding. Class A Ordinary Shares —The Company is authorized to issue 200,000,000 Class A ordinary shares, with a par value of $0.0001 per share. Holders of Class A ordinary shares are entitled to one vote for each share. As of June 30, 2021 and December 31, 2020, there were zero and 24,893,689 Class A ordinary shares issued and outstanding, excluding 69,000,000 and 44,106,311 Class A ordinary shares subject to possible redemption, respectively. Class B Ordinary Shares —The Company is authorized to issue 20,000,000 Class B ordinary shares, with a par value of $0.0001 per share. Holders of the Class B ordinary shares are entitled to one vote for each share. As of June 30, 2021 and December 31, 2020, there were 17,250,000 Class B ordinary shares issued and outstanding. Holders of Class A ordinary shares and Class B ordinary shares will vote together as a single class on all matters submitted to a vote of shareholders, except as required by law. Prior to the Business Combination, only holders of the Founder Shares will have the right to vote on the appointment of directors. Holders of the Public Shares will not be entitled to vote on the appointment of directors during such time. In addition, prior to the completion of a Business Combination, holders of a majority of the Founder Shares may remove a member of the board of directors for any reason. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of a Business Combination or earlier at the option of the holders thereof at a ratio such that the number of Class A ordinary shares issuable upon conversion of all Founder Shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding upon completion of the Initial Public Offering, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of a Business Combination, excluding any forward purchase securities and Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller in a Business Combination and any Private Placement Warrants issued to the Sponsor, its affiliates or any member of the Company’s management team upon conversion of Working Capital Loans. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one-to-one.	NOTE 8 — SHAREHOLDERS’ EQUITY Preference Shares —The Company is authorized to issue 1,000,000 preference shares with a par value of $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At December 31, 2020, there were no preference shares issued or outstanding. Class A Ordinary Shares —The Company is authorized to issue 200,000,000 Class A ordinary shares, with a par value of $0.0001 per share. Holders of Class A ordinary shares are entitled to one vote for each share. At December 31, 2020, there were 24,893,689 Class A ordinary shares issued and outstanding, excluding 44,106,311 Class A ordinary shares subject to possible redemption. Class B Ordinary Shares —The Company is authorized to issue 20,000,000 Class B ordinary shares, with a par value of $0.0001 per share. Holders of the Class B ordinary shares are entitled to one vote for each share. At December 31, 2020, there were 17,250,000 Class B ordinary shares issued and outstanding. Holders of Class A ordinary shares and Class B ordinary shares will vote together as a single class on all matters submitted to a vote of shareholders, except as required by law. Prior to the Business Combination, only holders of the Founder Shares will have the right to vote on the appointment of directors. Holders of the Public Shares will not be entitled to vote on the appointment of directors during such time. In addition, prior to the completion of a Business Combination, holders of a majority of the Founder Shares may remove a member of the board of directors for any reason. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of a Business Combination or earlier at the option of the holders thereof at a ratio such that the number of Class A ordinary shares issuable upon conversion of all Founder Shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding upon completion of the Initial Public Offering, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of a Business Combination, excluding any forward purchase securities and Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller in a Business Combination and any Private Placement Warrants issued to the Sponsor, its affiliates or any member of the Company’s management team upon conversion of Working Capital Loans. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than one-to-one.

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

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Warrant Liability

6 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Warrant Liability [Abstract]

Warrant Liability

Note 8 — Warrant Liability

Public Warrants may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. The Public Warrants will become exercisable on the later of (a) 30 days

after the completion of a Business Combination and (b) 12 months from the closing of the Initial Public Offering. The Public Warrants will expire five years from the completion of a Business Combination or earlier upon redemption or liquidation.

The Company will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the Class A ordinary shares underlying the warrant is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations with respect to registration, or a valid exemption from registration is available. No warrant will be exercisable and the Company will not be obligated to issue a Class A ordinary share upon exercise of a warrant unless the Class A ordinary share issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants.

The Company has agreed that as soon as practicable, but in no event later than 20 business days after the closing of a Business Combination, it will use its commercially reasonable efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A ordinary shares issuable upon exercise of the warrants, and the Company will use its commercially reasonable efforts to cause the same to become effective within 60 business days after the closing of the Business Combination, and to maintain the effectiveness of such registration statement and a current prospectus relating to those Class A ordinary shares until the warrant expire or are redeemed, as specified in the warrant agreement; provided that if the Class A ordinary shares are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company so elects, the Company will not be required to file or maintain in effect a registration statement, but it will use its commercially reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available. If a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective by the 60th day after the closing of a Business Combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption, but the Company will use its commercially reasonable efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

Redemption of warrants when the price per Class

A ordinary share equals or exceeds $18.00.

Once the warrants become exercisable, the Company may redeem the outstanding warrants (except as described with respect to the Private Placement Warrants):

•

in whole and not in part;

•

at a price of $0.01 per warrant;

•

upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and

•

if, and only if, the closing price of the Class A ordinary shares equals or exceeds $18.00 per share (as adjusted) on the trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.

If and when the warrants become redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws.

Redemption of warrants when the price per Class

A ordinary share equals or exceeds $10.00

. Once the warrants become exercisable, the Company may redeem the outstanding warrants (except as described with respect to the Private Placement Warrants):

•

in whole and not in part;

•

at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to an agreed table based on the redemption date and the fair market value of the Class A ordinary shares; and

•

if, and only if, the closing price of the Class A ordinary shares equals or exceeds $10.00 per public share (as adjusted) on the trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.

If the Company calls the Public Warrants for redemption, as described above, its management will have the option to require any holder that wishes to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of ordinary shares issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. However, except as described below, the Public Warrants will not be adjusted for issuances of ordinary shares at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the Public Warrants. If the Company is unable to complete a Business Combination within the Combination Period or any Extension Period and the Company liquidates the funds held in the Trust Account, holders of Public Warrants will not receive any of such funds with respect to their Public Warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such Public Warrants. Accordingly, the Public Warrants may expire worthless.

In addition, if (x) the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of its Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, the $18.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price, and the $10.00 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to the higher of the Market Value and the Newly Issued Price.

The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants and the Class A ordinary shares issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement

Warrants will be exercisable on a cashless basis and be

non-redeemable,

except as described above, so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

NOTE 9 – WARRANT LIABILITY

Warrants

—Public Warrants may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination and (b) 12 months from the closing of the Initial Public Offering. The Public Warrants will expire five years from the completion of a Business Combination or earlier upon redemption or liquidation.

Redemption of warrants when the price per Class

A ordinary share equals or exceeds $18.00

Once the warrants become exercisable, the Company may redeem the outstanding warrants (except as described with respect to the Private Placement Warrants):

•

in whole and not in part;

•

at a price of $0.01 per warrant;

•

upon a minimum of 30 days’ prior written notice of redemption to each warrant holder; and

•

Redemption of warrants when the price per Class

A ordinary share equals or exceeds $10.00.

Once the warrants become exercisable, the Company may redeem the outstanding warrants (except as described with respect to the Private Placement Warrants):

•

in whole and not in part;

•

exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be exercisable on a cashless basis and be

non-redeemable,

Other Liabilities

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Other Liabilities Disclosure [Line Items]

Other Liabilities

13.	OTHER LIABILITIES

Other liabilities as of June 30, 2021 and December 31, 2020, consist of the following (in thousands):


	June 30, 2021		December 31, 2020
Phantom stock incentive plan	$	4,338	$	3,217
Payroll tax deferment		3,152		3,152
Software license agreement		2,168		234
Deferred revenue-non-current		1,932		2,001
Deferred rent		—		4,461
Fair value of interest rate swaps		—		18,359
Other		121		1,346

Total	$	11,711	$	32,770

11.	OTHER LIABILITIES

Other liabilities as of December 31, 2020 and 2019, consist of the following (in thousands):


	2020		2019

Fair value of interest rate swaps	$	18,359	$	5,110
Deferred rent		4,461		1,989
Software license agreement		234		1,284
Deferred revenue-non-current		2,001		1,160
Phantom stock incentive plan		3,217		921
Payroll tax deferment		3,152		—
Other		1,346		1,190


Total	$	32,770	$	11,654

Employee Benefit Plans

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Compensation and Employee Benefit Plans, Other than Share-based Compensation [Text Block]

16.	EMPLOYEE BENEFIT PLANS

The Company sponsors a

tax-qualified

defined contribution savings and investment plan, CCC 401(k) Retirement Savings and Investment Plan (the “Savings Plan”). Participation in the Savings Plan is voluntary with substantially all domestic employees eligible to participate. Expenses related to the Savings Plan consist primarily of the Company’s contributions that are based on percentages of employees’ contributions. The defined contribution expense for the years ended December 31, 2020, 2019 and 2018, was $4.6 million, $4.9 million and $4.7 million, respectively.

Compensation and Employee Benefit Plans, Other than Share-based Compensation [Text Block]

18.	EMPLOYEE BENEFIT PLANS

The Company sponsors a

tax-qualified

defined contribution savings and investment plan, CCC 401(k) Retirement Savings and Investment Plan (the “Savings Plan”). Participation in the Savings Plan is voluntary with substantially all domestic employees eligible to participate. Expenses related to the Savings Plan consist primarily of the Company’s contributions that are based on percentages of employees’ contributions. The defined contribution expense for the three months ended June 30, 2021 and 2020 was $1.5 million and $1.2 million, respectively. The defined contribution expense for the six months ended June 30, 2021 and 2020 was $2.8 million and $2.2 million, respectively.

Stock Incentive Plans

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Incentive Plans

19.	STOCK INCENTIVE PLANS

General

—On April 27, 2017, Cypress Holdings adopted the 2017 Stock Option Plan of Cypress Holdings, Inc. (the “2017 Plan”). The purpose of the 2017 Plan is to enable the Company to attract, retain, and motivate employees and consultants of the Company and its subsidiaries by allowing them to become owners of common stock enabling them to benefit directly from the growth, development, and financial successes of the Company.

Pursuant to the 2017 Plan, the number of shares of Series B common stock that may be subject to stock incentives should not exceed 201,445 shares in the aggregate. At June 30, 2021, the Company has 20,770 shares available for grant under the plan.

Options have time-based vesting or performance-based with a market condition vesting requirements. Options expire on the tenth anniversary of the grant date.

For time-based awards, the Company records stock compensation expense on a straight-line basis over the service-vesting period. Time-based awards generally vest ratably over a five-year period based on continued service. Vesting of the time-based awards can be accelerated in certain circumstances, such as an initial public offering or sale of the Company.

For performance-based awards with a market condition, the Company does not currently recognize stock compensation expense. The awards will vest and the Company will recognize stock compensation expense when all three of the following are probable of occurring:

•

an occurrence of a liquidity event related to the common stock (for example, sale of the Company or an initial public offering),

•

the Company meets its principal equity owners’ return target of at least 2 times their initial investment, and

•

the employee is employed or the consultant is actively engaged by the Company.

Stock Options

— During the six months ended June 30, 2021, the Company granted 8,288 stock options, of which 8,088 have time-based vesting and 200 have performance-based with a market condition vesting. The exercise price of all stock options granted during the six months ended June 30, 2021 is equal to the fair value of the underlying shares at the grant date.

The valuation of time-based stock options granted during the six months ended June 30, 2021 was determined using the Black-Scholes option valuation model using the following assumptions:


Expected term (in years)		6.5
Expected volatility		40	%
Expected dividend yield		0	%
Risk-free interest rate		0.62 - 0.67	%
Fair value at valuation date	$	1,250

For performance-based awards with a market condition, the market condition is required to be considered when calculating the grant date fair value. ASC Topic 718 requires the Company to select a valuation technique that best fits the circumstances of an award. In order to reflect the substantive characteristics of the performance-based awards with a market condition, a Monte Carlo simulation valuation model was used to calculate the grant date fair value of such stock options. Monte Carlo approaches are a class of computational algorithms that rely on repeated random sampling to compute their results. This approach allows the calculation of the fair value of such stock options based on a large number of possible scenarios. Stock-based compensation expense for the performance-based awards with a market condition is not recognized until the performance condition is probable of occurring. The valuation of the performance-based awards with a market condition granted during the six months ending June 30, 2021 was determined through the Monte Carlo simulation model using the following assumptions:


Expected term (in years)		5.5
Expected volatility		33	%
Expected dividend yield		0	%
Risk-free interest rate		0.44	%
Fair value at valuation date	$	298

Expected Term—The expected term represents the period that the stock-based awards are expected to be outstanding. The Company uses the simplified method to determine the expected term for its option grants. The simplified method calculates the expected term as the average of the

time-to-vesting

and the contractual life of the options. The Company uses the simplified method to determine its expected term because of its limited history of stock option exercise activity.

Expected Volatility—Since the Company is privately held and does not have any trading history for its common stock, the expected volatility is estimated based on the average volatility for comparable publicly traded companies over a period equal to the expected term of the stock option grants.

Expected Dividend—Historically, the Company has not paid regular dividends on its common stock and has no plans to pay dividends on common stock on a regular basis. The Company does not have a dividend policy. Therefore, the Company used an expected dividend yield of zero.

Risk-Free Interest Rate—The risk-free interest rate is based on the US Treasury zero coupon issues in effect at the time of grant for periods corresponding with the expected term of awards.

The Company used a

pre-vesting

forfeiture rate to estimate the number of options that are expected to vest that was based on the Company’s historical turnover rate.

Stock-based compensation expense has been recorded in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows for the three and six months ended June 30, 2021 and 2020 (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Cost of revenues	$	176	$	160	$	394	$	239
Research and development		700		416		1,275		621
Sales and marketing		735		696		1,289		1,075
General and administrative		1,272		999		12,579		3,526

Total stock-based compensation expense	$	2,883	$	2,271	$	15,537	$	5,461

Option activity for the six months ended June 30, 2021, is summarized below:


	Shares			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Options outstanding—December 31, 2020		163,177			1,033		6.9		337,358

Granted		8,288			3,100
Exercised		(479	)		971
Forfeited and canceled		(750	)		1,542

Options outstanding—June 30, 2021		170,236			1,131		6.6		402,520

Options exercisable—June 30, 2021		57,485			1,036		6.3		141,418

Options vested and expected to vest—June 30, 2021		153,913			1,123		6.6		365,110

The weighted-average grant-date fair value for time-based options granted during the six months ended June 30, 2021 was $1,250. The weighted-average grant-date fair value for performance-based and market-based options granted during the six months ended June 30, 2021 was $298.

During the six months ended June 30, 2021, the Company issued 473 shares of Class B Common Stock upon exercise of 479 stock options. As part of cashless exercises, 6 shares were applied to the exercise price and tax obligations of the option holders.

The aggregate intrinsic value of options exercised during the six months ended June 30, 2021 was $1.0 million.

The fair value of the options vested during the six months ended June 30, 2021 was $8.7 million.

As of June 30, 2021, there was $18.0 million of unrecognized stock compensation expense related to

non-vested

time-based awards which is expected to be recognized over a weighted-average period of 3.2 years. As of June 30, 2021, there was $17.1 million of unrecognized stock compensation expense related to

non-vested

performance-based awards with a market condition.

Phantom Stock Plan

—During the year ended December 31, 2018, the Company adopted a Phantom Stock Plan, which provides for the issuance of phantom shares of the Company’s Series B common stock (“Phantom Shares”) to eligible employees under the 2017 Plan. Awards under the Phantom Stock Plan are settled in cash and thus accounted for as liability awards. The shares issued under the Phantom Stock Plan reduce the number of shares available for issuance under the 2017 Plan.

Phantom shares vest under the same time-based or performance-based with a market condition as the stock options granted under the 2017 Plan.

No Phantom Shares were granted during the six months ended June 30, 2021. At June 30, 2021, 3,900 phantom shares are outstanding.

The valuation of Phantom Shares is measured based on the fair value per share of our Class B common stock.

During the three months ended June 30, 2021 and 2020, the Company recognized stock-based compensation expense of $0.3 million and $0.1 million, respectively, related to the Phantom Shares. During the six months ended June 30, 2021 and 2020, the Company recognized stock-based compensation expense of $1.1 million and $0.1 million, respectively. At June 30, 2021 and December 31, 2020, the outstanding liability for the outstanding phantom shares is $4.3 million and $3.2 million, respectively, and is classified within other liabilities in the accompanying condensed consolidated balance sheets.

17.	STOCK INCENTIVE PLANS

General

Pursuant to the 2017 Plan, the number of shares of Series B common stock that may be subject to stock incentives should not exceed 201,445 shares in the aggregate. At December 31, 2020, the Company has 31,879 shares available for grant under the plan.

Options have time-based vesting or performance-based and market-based vesting requirements. Options expire on the tenth anniversary of the grant date.

For time-based awards, the Company records stock compensation expense on a

straight-line

basis over the service-vesting period. Time-based awards generally vest ratably over a five-year period based on continued

service. Vesting of the

time-based

awards can be accelerated in certain circumstances, such as an initial public offering or sale of the Company.

For awards with performance-based and market-based vesting, the Company does not currently recognize stock compensation expense. The awards will vest and the Company will recognize stock compensation expense when all three of the following are probable of occurring:

•

an occurrence of a liquidity event related to the common stock (for example, sale of the Company or an initial public offering),

•

the Company meets its private equity sponsors’ return target of at least 2 times their initial investment, and

•

the employee is employed or the consultant is actively engaged by the Company.

Stock Options

— During the year ended December 31, 2020, the Company granted 12,363 stock options, of which 6,195 have time-based vesting and 6,168 have performance-based and market-based vesting. During the year ended December 31, 2019, the Company granted 12,720 stock options, of which 6,378 have time-based vesting and 6,342 have performance-based and market-based vesting. During the year ended December 31, 2018, the Company granted 9,838 stock options, of which 4,927 have time-based vesting and 4,911 have performance-based and market-based vesting. The exercise price of all stock options granted during the years ended December 31, 2019 and 2018 is equal to the fair value of the underlying shares at the grant date.

The valuation of time-based stock options was determined using the

Black-Scholes

option valuation model using the following assumptions:


	Year ended December 31,
	2020			2019			2018
Expected term (in years)		6.5			6.5			6.5
Expected volatility		40	%		40	%		40	%
Expected dividend yield		0	%		0	%		0	%
Risk-free interest rate		0.39 - 0.45%			1.62 - 2.38%			2.64 - 2.99%
Fair value at Valuation Date	$	622		$	525		$	474

For stock options which contain performance and market conditions, the market conditions are required to be considered when calculating the grant date fair value. ASC Topic 718 requires the Company to select a valuation technique that best fits the circumstances of an award. In order to reflect the substantive characteristics of the awards with performance and market conditions, a Monte Carlo simulation valuation model was used to calculate the grant date fair value of such stock options. Monte Carlo approaches are a class of computational algorithms that rely on repeated random sampling to compute their results. This approach allows the calculation of the fair value of such stock options based on a large number of possible scenarios. Stock-based compensation expense for the performance-based and market-based options is not recognized until the performance condition is probable of occurring. The valuation of the performance-based and market-based options was determined through the Monte Carlo simulation model using the following assumptions:


	Year ended December 31,
	2020			2019			2018
Expected term (in years)		5.5			6.5			6.5
Expected volatility		33	%		40	%		45	%
Expected dividend yield		0	%		0	%		0	%
Risk-free interest rate		0.44	%		2.38	%		2.93	%
Fair value at Valuation Date	$	298		$	228		$	200

The simplified method calculates the expected term as the average of the

time-to-vesting

and the contractual life of the options. The Company uses the simplified method to determine its expected term because of its limited history of stock option exercise activity.

Risk-Free Interest Rate—The risk-free interest rate is based on the US Treasury zero coupon issues in effect at the time of grant for periods corresponding with the expected term of awards.

The Company used a

pre-vesting

forfeiture rate to estimate the number of options that are expected to vest that was based on the Company’s historical turnover rate.

On July 26, 2018, the Company modified the exercise price of its outstanding 148,926 options from $1,000 per share to $966 per share as a result of a

one-time

cash dividend to the Company shareholders. This increased the fair value of each time-based vesting option outstanding option by $10. As a result, at the time of modification the Company recorded an additional $0.1 million in stock-based compensation expense related to the vested options and expects to recognize an additional $0.6 million over the remaining vesting period of the modified options. For the performance-based and market-based vesting options, the new fair value was determined using a Monte Carlo simulation valuation model. Based on the assumptions above, the fair value of the options was $200 per option.

Stock-based compensation expense has been recorded in the accompanying consolidated statements of operations and comprehensive loss as follows for the years ended December 31, 2020, 2019 and 2018 (in thousands):


	Year ended December 31,
	2020		2019		2018
Cost of Revenues	$	494	$	485	$	454
Research and development		1,174		1,216		1,095
Sales and marketing		2,024		1,858		2,207
General and administrative		7,644		3,565		3,443

Total share-based compensation expense	$	11,336	$	7,124	$	7,199

Option activity for the years ended December 31, 2020, 2019 and 2018, is summarized below:


	Shares			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)

Options outstanding—January 1, 2018		145,350		$	1,000		9.5		—

Granted		9,838			1,032
Exercised		(114	)		966
Forfeited and canceled		(5,956	)		974


Options outstanding—December 31, 2018		149,118			969		8.6		30,652

Granted		12,720			1,216
Exercised		(926	)		966
Forfeited and canceled		(6,102	)		966


	Shares			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)

Options outstanding—December 31, 2019		154,810			990		7.7		88,271

Granted		12,363			1,560
Exercised		(1,398	)		971
Forfeited and canceled		(2,598	)		1,028


Options outstanding—December 31, 2020		163,177			1,033		6.9		337,358


Options exercisable—December 31, 2020		41,230			976		6.6		87,582


Options vested and expected to vest—December 31, 2020		145,907			1,023		6.9		303,007

At December 31, 2020, 2019 and 2018, the total vested options were 41,230, 27,567 and 14,191, respectively.

The

weighted-average

grant-date fair value for time-based options granted during the years ended December 31, 2020, 2019 and 2018, was $622, $525 and $474, respectively. The

weighted-average

grant-date fair value for performance-based and market-based options granted during the years ended December 31, 2020, 2019 and 2018, was $298, $228 and $200, respectively.

During the year ended, December 31, 2020, the Company issued 971 shares of Class B Common Stock upon exercise of 1,398 stock options. As part of cashless exercises, 427 shares were applied to the exercise price and tax obligations of the option holders.

During the year ended, December 31, 2019, the Company issued 688 shares of Class B Common Stock upon exercise of 926 stock options. As part of cashless exercises, 238 shares were applied to the exercise price and tax obligations of the option holders.

During the year ended, December 31, 2018, the Company issued 16 shares of Class B Common Stock upon a cashless exercise of 114 stock options. As part of the cashless exercise, 98 of the exercised options were applied to the exercise price and tax obligations of the option holders.

The aggregate intrinsic value of options exercised during the years ended December 31, 2020, 2019 and 2018 was $823 thousand, $451 thousand and $24 thousand, respectively.

The fair value of the options vested during the years ended December 31, 2020, 2019 and 2018 was $6.9 million, $6.7 million and $6.5 million, respectively.

As of December 31, 2020, there was $14.5 million of unrecognized stock compensation expense related to

non-vested

time-based awards which is expected to be recognized over a weighted-average period of 2.5 years. As of December 31, 2020, there was $17.2 million of unrecognized stock compensation expense related to

non-vested

performance-based and market-based awards.

Phantom Stock Plan

-During the year ended December 31, 2018, the Company adopted a Phantom Stock Plan, which provides for the issuance of phantom shares of the Company’s Series B common stock (“Phantom Shares”) to eligible employees under the 2017 Plan. Awards under the Phantom Stock Plan are settled in cash and thus accounted for as liability awards. The shares issued under the Phantom Stock Plan reduce the number of shares available for issuance under the 2017 Plan.

Phantom shares vest under the same time-based or performance-based and market-based conditions as the stock options granted under the 2017 Plan.

No Phantom Shares were granted during the years ended December 31, 2020 and 2019.

During the year ended December 31, 2018, 4,060 phantom shares were granted. At December 31, 2020, 3,930 phantom shares are outstanding.

The valuation of Phantom Shares is measured based on the fair value per share of our Class B common stock.

During the years ended December 31, 2020, 2019 and 2018, the Company recognized stock-based compensation expense of $2.2 million, $0.6 million and $0.3 million, respectively, related to the Phantom Shares, recorded within general and administrative expenses in the accompanying consolidated statements of operations and comprehensive loss. At December 31, 2020 and 2019, the outstanding liability for the outstanding phantom shares is $3.2 million and $0.9 million, respectively, and is classified within other liabilities in the accompanying consolidated balance sheets.

Legal Proceedings and contingencies

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Legal Matters and Contingencies

Loss Contingencies [Line Items]

21.	LEGAL PROCEEDINGS AND CONTINGENCIES

In the ordinary course of business, the Company is from time to time, involved in various pending or threatened legal actions. The litigation process is inherently uncertain, and it is possible that the resolution of such matters might have a material adverse effect upon the Company’s condensed consolidated financial

condition and/or results of operations. The Company’s management believes, based on current information, matters currently pending or threatened are not expected to have a material adverse effect on the Company’s condensed consolidated financial position or results of operations.

19.	LEGAL PROCEEDINGS AND CONTINGENCIES

In the normal course of business, claims and/or lawsuits are, from time to time, asserted or commenced against the Company. The Company defends itself against these claims. As of December 31, 2020 and 2019, no material matters existed.

Net Income (Loss) Per Share

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

Net Income (Loss) Per Share

23.	NET INCOME (LOSS) PER SHARE

The Company calculates basic earnings per share by dividing the net income (loss) by the weighted average number of shares of common stock outstanding for the period. The diluted earnings per share is computed by assuming the exercise, settlement and vesting of all potential dilutive common stock equivalents outstanding for the period using the treasury stock method. We exclude common stock equivalent shares from the calculation if their effect is anti-dilutive. In a period where the Company is in a net loss position, the diluted loss per share is calculated using the basic share count.

The following table sets forth a reconciliation of the numerator and denominator used to compute basic earnings per share of common stock (in thousands, except for share and per share data).


	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2021		2020			2021			2020
Numerator
Net income (loss)	$	3,816	$	(1,961	)	$	(1,268	)	$	(27,213	)

Denominator
Weighted average shares of common stock - basic		1,484,156		1,480,262			1,483,634			1,479,918
Dilutive effect of stock options		53,611		—			—			—

Weighted average shares of common stock - diluted		1,537,767		1,480,262			1,483,634			1,479,918

Net income (loss) per share:
Basic	$	2.57	$	(1.32	)	$	(0.85	)	$	(18.39	)
Diluted	$	2.48	$	(1.32	)	$	(0.85	)	$	(18.39	)

No common stock equivalent shares were excluded from the computation of diluted per share amounts for the three months ended June 30, 2021. Common stock equivalent shares of approximately 18,081 were excluded from the computation of diluted per share amounts for the three months ended June 30, 2020, because their effect was anti-dilutive.

Common stock equivalent shares of approximately 53,402 and 17,795 were excluded from the computation of diluted per share amounts for the six months ended June 30, 2021 and 2020, respectively, because their effect was anti-dilutive.

21.	NET LOSS PER SHARE

The following table sets forth a reconciliation of the numerator and denominator used to compute basic earnings per share of common stock (in thousands, except for share and per share data).


	Year ended December 31,
	2020			2019			2018
Numerator
Net loss	$	(16,876	)	$	(210,340	)	$	(55,031	)

Denominator
Weighted average shares of common stock - basic and diluted		1,480,296			1,478,350			1,478,373
Net loss per share - basic and diluted	$	(11.40	)	$	(142.28	)	$	(37.22	)

Common stock equivalent shares of approximately 45,905, 15,646 and 26 were excluded from the computation of diluted per share amounts for the years ended December 31, 2020, 2019 and 2018, respectively, because their effect was anti-dilutive.

Segment Information And Information About Geographic Areas

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Revenues from External Customers and Long-Lived Assets [Line Items]

Segment Information And Information About Geographic Areas

24.	SEGMENT INFORMATION AND INFORMATION ABOUT GEOGRAPHIC AREAS

The Company operates in one operating segment. The chief operating decision maker for the Company is the chief executive officer. The chief executive officer reviews financial information presented on a consolidated basis, accompanied by information about revenue by type of service and geographic region, for purposes of allocating resources and evaluating financial performance.

Revenues by geographic area presented based upon the location of the customer are as follows (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
United States	$	165,502	$	148,845	$	321,487	$	306,423
China		1,287		1,871		3,091		3,501

Total revenues	$	166,789	$	150,716	$	324,578	$	309,924

Software, equipment and property, net by geographic area are as follows (in thousands):


	June 30, 2021		December 31, 2020
United States	$	108,581	$	101,370
China		59		68

Total software, equipment and property-net	$	108,640	$	101,438

22.	SEGMENT INFORMATION AND INFORMATION ABOUT GEOGRAPHIC AREAS

Revenues by geographic area presented based upon the location of the customer are as follows (in thousands):


	Year ended December 31,
	2020		2019		2018
United States	$	626,101	$	610,591	$	564,884
China		6,962		5,493		4,888

Total revenues	$	633,063	$	616,084	$	569,772

Software, equipment and property, net by geographic area are as follows (in thousands):


	December 31
	2020		2019
United States	$	101,370	$	89,450
China		68		54

Total software, equipment and property-net	$	101,438	$	89,504

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Divestiture

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Divestiture

25.	DIVESTITURE

On December 31, 2020 the Company closed an Asset Purchase Agreement (the “APA”) with a third-party buyer (the “Buyer”) to transfer its obligation of providing certain services and related assets and liabilities to the Buyer for total consideration of $3.8 million, including $1.8 million of contingent consideration. The Company received payments of $1.8 million, $0.4 million and $0.7 million from the Buyer in January 2021, April 2021 and August 2021, respectively.

The divestiture did not constitute a discontinued operation or the sale of a business.

The Company recognized a gain on disposition of $3.8 million during the year ended December 31, 2020 within general and administrative expenses in the condensed consolidated statement of operations and comprehensive income (loss).

23.	DIVESTITURE

On December 31, 2020 the Company closed an Asset Purchase Agreement (the “APA”) with a third-party buyer (the “Buyer”) to transfer its obligation of providing certain services and related assets and liabilities to the Buyer for total consideration of $3.8 million, including $1.8 million of contingent consideration. In January 2021, $1.8 million of cash consideration was received from the Buyer.

The divestiture did not constitute a discontinued operation or the sale of a business.

The Company recognized a gain on disposition of $3.8 million during the year ended December 31, 2020 within general and administrative expenses in the consolidated statement of operations and comprehensive loss.

The Company and the Buyer executed a Transition Services Agreement which requires the Company to assign the transferred services within its customer contracts to the Buyer within a reasonable amount of time. The Company will continue to recognize revenue related to the transferred services until the contracts have been assigned to the Buyer and the Company is no longer the primary obligor of providing the services pursuant to the terms of its customer contracts.

Long-Term Debt

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Debt Instrument [Line Items]

Long-Term Debt

14.	LONG-TERM DEBT

In connection with the Acquisition of the Company in April 2017, the Company entered into the 2017 First Lien Credit Agreement (“First Lien Credit Agreement”) and 2017 Second Lien Credit Agreement (“Second Lien Credit Agreement”).

In February 2020, the Company refinanced its long-term debt (“2020 Refinancing”) and entered into the First Amendment to the First Lien Credit Agreement (“First Lien Amendment”). The First Lien Amendment provided an incremental term loan, amended the amount of commitments and the maturity dates of the First Lien Credit Agreement’s revolving credit facilities. The proceeds of the incremental term loan were used to repay all outstanding borrowings under the Second Lien Credit Agreement.

The repayment of outstanding borrowings under the Second Lien Credit Agreement was determined to be a debt extinguishment and the Company recognized an $8.6 million loss on early extinguishment of debt in the condensed consolidated statements of operations and comprehensive income (loss) during the six months ended June 30, 2020.

First Lien Credit Agreement

— The First Lien Credit Agreement initially consisted of a $1.0 billion term loan (“First Lien Term Loan”), a $65.0 million dollar revolving credit facility (“Dollar Revolver”), and a $35.0 million multicurrency revolving credit facility (“Multicurrency Revolver” and together with the Dollar Revolver, the “First Lien Revolvers”), with a sublimit of $30.0 million for letters of credit under the First Lien Revolvers. The Company received proceeds of $997.5 million, net of debt discount of $2.5 million, related to the First Lien Term Loan.

The First Lien Amendment provided an incremental term loan in the amount of $375.0 million. The Company received proceeds from the incremental term loan of $373.1 million, net of debt discount of $1.9 million. At June 30, 2021 and December 31, 2020, the unamortized debt discount was $2.4 million and $2.8 million, respectively.

In addition, the First Lien Amendment reduced the amount of commitments under each of the Dollar Revolver and the Multicurrency Revolver to $59.3 million and $32.0 million, respectively, and extended the maturity of a portion of the commitments under each revolving credit facility. Pursuant to the First Lien Amendment, the

non-extended

Dollar Revolver and

non-extended

Multicurrency Revolver consist of commitments of $8.1 million and $4.4 million, respectively, which mature on April 27, 2022. The extended Dollar Revolver and extended Multicurrency Revolver consist of commitments of $51.2 million and $27.6 million, respectively, which mature on October 27, 2023. The First Lien Revolvers continue to have a sublimit of $30.0 million for letters of credit.

are being amortized to interest expense over the term of the First Lien Credit Agreement using the effective interest method. At June 30, 2021 and December 31, 2020, the unamortized financing costs were $13.2 million and $16.1 million, respectively.

The First Lien Term Loan requires (after giving effect to the First Lien Amendment) quarterly principal payments of approximately $3.5 million until March 31, 2024, with the remaining outstanding principal amount required to be paid on the maturity date, April 27, 2024. The First Lien Term Loan requires a prepayment of principal, subject to certain exceptions, in connection with the receipt of proceeds from certain asset sales, casualty events, and debt issuances by the Company, and up to 50% of annual excess cash flow, as defined in and as further set forth in the First Lien Credit Agreement. When a principal prepayment is required, the prepayment offsets the future quarterly principal payments of the same amount. As of December 31, 2020, a principal prepayment of $1.5 million was required and paid in April 2021.

As of June 30, 2021, the amount outstanding on the First Lien Term Loan was $1,329.2 million, of which, $13.8 million was classified as current in the accompanying condensed consolidated balance sheet. As of December 31, 2020, the amount outstanding on the First Lien Term Loan was $1,336.2 million, of which, $25.4 million was classified as current in the accompanying condensed consolidated balance sheet.

Amounts outstanding under the First Lien Credit Agreement bear interest at a variable rate of LIBOR, plus up to 3.00% per annum based upon the Company’s leverage ratio, as defined in the First Lien Credit Agreement. At June 30, 2021, outstanding borrowings under the First Lien Term Loan bore interest at 4.00%. A quarterly commitment fee of up to 0.50% is payable on the unused portion of the Dollar Revolver and Multicurrency Revolver credit facilities.

During the three months ended June 30, 2021 and 2020, weighted-average interest rate on the outstanding borrowings under the First Lien Term Loan was 4.1% and 4.1%, respectively. The Company made interest payments of $13.5 million and $13.2 million during the three months ended June 30, 2021 and 2020, respectively.

During the six months ended June 30, 2021 and 2020, weighted-average interest rate on the outstanding borrowings under the First Lien Term Loan was 4.1% and 4.3%, respectively. The Company made interest payments of $26.8 million and $26.2 million during the six months ended June 30, 2021 and 2020, respectively.

In March 2020, the Company borrowed $65.0 million on its First Lien Revolvers. The borrowings were fully repaid in June 2020 and there were no outstanding borrowings on the First Lien Revolvers at June 30, 2021 and December 31, 2020.

In May 2020, the Company issued a standby letter of credit for $0.7 million in lieu of a security deposit upon entering into a lease agreement for its new corporate headquarters. The standby letter of credit reduces the amount available to be borrowed under the First Lien Revolvers and at June 30, 2021 and December 31, 2020, $90.6 million was available to be borrowed.

Borrowings under the First Lien Credit Agreement are guaranteed by Cypress Holdings Intermediate Holdings II, Inc., and certain of its US subsidiaries by a perfected first priority lien on the stock of CCC and substantially all of its assets, subject to various limitations and exceptions.

The First Lien Credit Agreement contains representations and warranties, and affirmative and negative covenants, that among other things, restrict, subject to certain exceptions, our ability to: incur additional indebtedness, incur liens, engage in mergers, consolidations, liquidations or dissolutions; pay dividends and distributions on, or redeem, repurchase or retire our capital stock; and make certain investments, acquisitions, loans, or advances.

financial covenant as of the quarter ended March 31, 2020. Borrowings under the First Lien Revolvers did not exceed 35% of the aggregate commitments and the Company was not subject to the leverage test for all fiscal quarters ending after March 31, 2020.

Second Lien Credit Agreement

—The Second Lien Credit Agreement consisted of a $375.0 million term loan (“Second Lien Term Loan”). The Company received proceeds of $372.2 million, net of discount of $2.8 million. The discount was recorded to a contra debt account and was being amortized to interest expense over the life of the Second Lien Term Loan using the effective interest method. At the time of the 2020 Refinancing, the debt discount was written off to loss on early extinguishment of debt.

The Company incurred $8.9 million in financing costs related to the Second Lien Credit Agreement. These costs were recorded to a contra debt account and were being amortized to interest expense over the term of the Second Lien Term Loan using the effective interest method. At the time of the 2020 Refinancing, there were $6.6 million of unamortized financing costs which were written off to loss on early extinguishment of debt.

The Second Lien Term Loan required no principal payments and all outstanding principal was scheduled to be due upon maturity on April 25, 2025.

Amounts outstanding under the Second Lien Term Loan bore interest at a variable rate of LIBOR, plus 6.75%. Prior to extinguishment in February 2020, the weighted-average interest rate on the Second Lien Term Loan was 8.6% and the Company made interest payments of $4.0 million.

The Second Lien Term Loan was guaranteed by Cypress Holdings Intermediate Holdings II, Inc., and certain of its US subsidiaries by a perfected second priority lien on the stock of CCC and substantially all of its assets, subject to various limitations and exceptions.

The Second Lien Credit Agreement contained representations and warranties, and affirmative and negative covenants, that among other things, restrict, subject to certain exceptions, the Company’s ability to: incur additional indebtedness, incur liens, engage in mergers, consolidations, liquidations or dissolutions; pay dividends and distributions on, or redeem, repurchase or retire out capital stock; and make certain investments, acquisitions, loans, or advances. The Second Lien Credit Agreement had no financial covenants.

Long-term debt as of June 30, 2021 and December 31, 2020, consists of the following (in thousands):


	June 30, 2021			December 31, 2020
First Lien Term Loan	$	1,329,231		$	1,336,154
First Lien Term Loan—discount		(2,396	)		(2,788	)
First Lien Term Loan—deferred financing fees		(13,215	)		(15,388	)

First Lien Term Loan—net of discount & fees		1,313,620			1,317,978

Less: Current portion		(13,846	)		(25,381	)

Total long-term debt—net of current portion	$	1,299,774		$	1,292,597

As of June 30, 2021, and December 31, 2020, the deferred financing fees asset balance included $0.6 million and $0.7 million, respectively, in relation to the Dollar Revolver and Multicurrency Revolver, which is being amortized to interest expense over the term of the underlying agreements.

Interest Rate Swaps

—The Company has previously entered into three floating to fixed interest rate swap agreements (“Swap Agreements”) to reduce its exposure to variability from future cash flows resulting from interest rate risk related to its long-term debt. The notional amount of the Swap Agreements total $777.7 million at June 30, 2021 and December 31, 2020. The Swap Agreements expire in June 2022.

12.	LONG-TERM DEBT

The repayment of outstanding borrowings under the Second Lien Credit Agreement was determined to be a debt extinguishment and the Company recognized an $8.6 million loss on early extinguishment of debt in the consolidated statements of operations and comprehensive loss during the year ended December 31, 2020.

First Lien Credit Agreement

non-extended

Dollar Revolver and

non-extended

The Company incurred $27.6 million and $3.4 million in financing costs related to the First Lien Credit Agreement and First Lien Amendment, respectively. These costs were recorded to a contra debt account and are being amortized to interest expense over the term of the First Lien Credit Agreement using the effective interest method. At December 31, 2020 and 2019, the unamortized financing costs were $16.1 million and $16.2 million, respectively.

As of December 31, 2020, the amount outstanding on the First Lien Term Loan was $1,336.2 million, of which, $25.4 million was classified as current in the accompanying consolidated balance sheet. As of December 31, 2019, the amount outstanding on the First Lien Term Loan was $975.0 million, of which, $10.0 million was classified as current in the accompanying consolidated balance sheet.

Amounts outstanding under the First Lien Credit Agreement bear interest at a variable rate of LIBOR, plus up to 3.00% per annum based upon the Company’s leverage ratio, as defined in the First Lien Credit Agreement. At December 31, 2020, outstanding borrowings under the First Lien Term Loan bore interest at 4.00%. A quarterly commitment fee of up to 0.50% is payable on the unused portion of the Dollar Revolver and Multicurrency Revolver credit facilities.

During the years ended December 31, 2020, 2019 and 2018, the weighted-average interest rate on the outstanding borrowings under the First Lien Term Loan was 4.2%, 5.2% and 5.0%, respectively. The Company made interest payments of $53.6 million, $50.7 million and $50.3 million during the years ended December 31, 2020, 2019 and 2018, respectively.

In May 2020, the Company issued a standby letter of credit for $0.7 million in lieu of a security deposit upon entering into a lease agreement for its new corporate headquarters. The standby letter of credit reduces the amount available to be borrowed under the First Lien Revolvers and at December 31, 2020 $90.6 million was available to be borrowed. At December 31, 2019, all $100.0 million of the First Lien Revolvers was available to be borrowed.

In addition, the terms of the First Lien Credit Agreement include a financial covenant which requires that, at the end of each fiscal quarter, if the aggregate amount of borrowings under the First Lien Revolvers over the prior four fiscal quarters exceeds 35% of the aggregate commitments under those revolving credit facilities, the Company’s leverage ratio cannot exceed 8.30 to 1.00. The Company was in compliance with its financial covenant as of the quarter ended March 31, 2020. Borrowings under the First Lien Revolvers did not exceed 35% of the aggregate commitments and the Company was not subject to the leverage test for fiscal quarters ending after March 31, 2020 or for any fiscal quarter during the year ended December 31, 2019.

Second Lien Credit Agreement

—The Second Lien Credit Agreement consisted of a $375.0 million term loan (“Second Lien Term Loan”). The Company received proceeds of $372.2 million, net of discount of

$2.8 million. The discount was recorded to a contra debt account and was being amortized to interest expense over the life of the Second Lien Term Loan using the effective interest method. At the time of the 2020 Refinancing, the debt discount was written off to loss on early extinguishment of debt.

The Second Lien Term Loan required no principal payments and all outstanding principal was scheduled to be due upon maturity on April 25, 2025. As of December 31, 2019, the amount outstanding on the Second Lien Term Loan was $375.0 million, none of which was classified as current in the accompanying consolidated balance sheet.

Amounts outstanding under the Second Lien Term Loan bore interest at a variable rate of LIBOR, plus 6.75%. During the years ended December 31, 2020, 2019 and 2018, the weighted-average interest rate on the Second Lien Term Loan was 8.6%, 9.1% and 8.8%, respectively. The Company made interest payments of $4.0 million and $34.3 million and $33.4 million during the years ended December 31, 2020, 2019 and 2018, respectively.

The Second Lien Credit Agreement contained representations and warranties, and affirmative and negative covenants, that among other things, restrict, subject to certain exceptions, the Company’s ability to: incur additional indebtedness, incur liens, engage in mergers, consolidations, liquidations or dissolutions; pay dividends and distributions on, or redeem, repurchase or retire out capital stock; and make certain investments, acquisitions, loans, or advances.. The Second Lien Credit Agreement had no financial covenants.

Long-term debt as of December 31, 2020 and 2019, consists of the following (in thousands):


	2020			2019

First Lien Term Loan	$	1,336,154		$	975,000
First Lien Term Loan—discount		(2,788	)		(1,614	)
First Lien Term Loan—deferred financing fees		(15,388	)		(16,211	)


First Lien Term Loan—net of discount & fees		1,317,978			957,175


Second Lien Term Loan		—			375,000
Second Lien Term Loan—discount		—			(2,080	)
Second Lien Term Loan—deferred financing fees		—			(6,583	)


Second Lien Term Loan—net of discount & fees		—			366,337


Total debt		1,317,978			1,323,512

Less: Current portion		(25,381	)		(10,000	)


Total long-term debt—net of current portion	$	1,292,597		$	1,313,512

The table below is a rollforward of the Company’s deferred financing fees and discount (contra debt) (in thousands):


	Deferred Financing Fees			Discount— Contra Debt



Balance—December 31, 2018		28,797			4,327

Amortization of fees and discount		(4,837	)		(633	)


Balance—December 31, 2019	$	23,960		$	3,694

Fees written off of due to early extinguishment of debt		(6,558	)		(2,043	)

Payment of fees and discount		3,362			1,875

Amortization of fees and discount		(4,630	)		(738	)


Balance—December 31, 2020	$	16,134		$	2,788

As of December 31, 2020 and 2019, the deferred financing fees asset balance included $0.7 million and $1.2 million, respectively, in relation to the Dollar Revolver and Multicurrency Revolver, which is being amortized to interest expense over the term of the underlying agreements.

Scheduled Payments for Debt

—Principal amounts due in each of the next four years as of December 31, 2020, are as follows (in thousands):


Years Ending December 31
Years Ending December 31

2021	$	25,381
2022		2,312
2023		13,846
2024		1,294,615


Total	$	1,336,154

Interest Rate Swaps

—The Company has previously entered into three floating to fixed interest rate swap agreements (“Swap Agreements”) to reduce its exposure to variability from future cash flows resulting from interest rate risk related to its long-term debt. The notional amount of the Swap Agreements total $777.7 million and $864.9 million at December 31, 2020 and 2019, respectively. The Swap Agreements expire in June 2022.

Long-Term Licensing Agreement

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

LongTerm Licensing Agreement [Line Items]

Long-Term Licensing Agreement

15.	LONG-TERM LICENSING AGREEMENT

During 2018, the Company entered into a licensing agreement with a third party to obtain a perpetual software license (“Licensing Agreement”) for a database structure, tools, and historical data used within the Company’s software. The Company has included the present value of the future payments required as a long-term licensing agreement within the accompanying condensed consolidated balance sheets. The present value of the future payments was computed using an effective annual interest rate of 6.25%, and the Licensing Agreement requires the Company to make quarterly principal and interest installment payments of approximately $1.2 million through December 2031.

The present value of the future cash flows upon execution of the agreement was $45.6 million, which included an original discount of $23.2 million. At June 30, 2021, the remaining liability, net of the discount was $37.6 million, with $2.6 million classified as current. At December 31, 2020, the remaining liability, net of the discount was $38.9 million, with $2.5 million classified as current.

The discount was recorded to a contra liability account and is being amortized to interest expense over the term of the agreement using the effective interest method. During the three months ended June 30, 2021 and 2020, the Company recognized $0.6 million in interest expense related to the Licensing Agreement. During the six months ended June 30, 2021 and 2020, the Company recognized $1.2 million and $1.3 million, respectively, in interest expense related to the Licensing Agreement. At June 30, 2021 and December 31, 2020, $14.0 million and $15.2 million, respectively, of the discount was not yet amortized.

13.	LONG-TERM LICENSING AGREEMENT

During the year ended December 31, 2018, the Company entered into a licensing agreement with a third party to obtain a perpetual software license (“Licensing Agreement”) for a database structure, tools, and historical data used within the Company’s software. The Company has included the present value of the future payments required as a long-term licensing agreement within the accompanying consolidated balance sheets. The present value of the future payments was computed using an effective annual interest rate of 6.25%, and the Licensing Agreement requires the Company to make quarterly principal and interest installment payments of $1.2 million through December 2031.

The present value of the future cash flows upon execution of the agreement was $45.6 million, which included an original discount of $23.2 million. At December 31, 2020, the remaining liability, net of the discount was $38.9 million, with $2.5 million classified as current. At December 31, 2019, the remaining liability, net of the discount was $41.3 million, with $2.4 million classified as current.

The discount was recorded to a contra liability account and is being amortized to interest expense over the term of the agreement using the effective interest method. During the years ended December 31, 2020, 2019 and 2018, the Company recognized $2.5 million, $2.7 million and $2.8 million, respectively, in interest expense related to the Licensing Agreement. At December 31, 2020 and 2019, $15.2 million and $17.8 million, respectively, of the discount was not yet amortized.

Scheduled Payments

—Principal amounts due in each of the next five years and thereafter for the Licensing Agreement as of December 31, 2020, are as follows (in thousands):


Years Ending December 31

2021		2,540
2022		2,703
2023		2,876
2024		3,061
2025		3,257
Thereafter		24,434


Total	$	38,871

The entire disclosure for long-term contracts or programs.

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Redeemable Non-Controlling Interest

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Noncontrolling Interest [Line Items]

Redeemable Non-Controlling Interest

16.	REDEEMABLE NON-CONTROLLING INTEREST

On March 12, 2020 (the “Close Date”), the Company closed a Stock Purchase Agreement with a third-party investor (the “Investor”) for purchase by the Investor of Series A Preferred Stock in CCCIS Cayman Holdings Limited (“CCC Cayman”), the parent of the Company’s China operations. On the Close Date, CCC Cayman, a subsidiary of the Company, issued 1,818 shares of Series A Preferred Stock (the “Preferred Shares”) at $7,854 per share to the Investor for net proceeds of $14.2 million. On an

as-converted

basis, the Preferred Shares represent an aggregate 10.7% initial ownership interest of the issued and outstanding capital stock of CCC Cayman, or 9.1% on a fully-diluted basis if all shares reserved for issuance under the Company’s CCC Cayman employee incentive plan were issued and outstanding.

The Preferred Shares are entitled to

non-cumulative

dividends at an annual rate of 8.0%, when and if declared.

At the option of the Investor, the Preferred Shares are convertible into Ordinary Shares of CCC Cayman, initially on a

one-for-one

basis but subject to potential adjustment, as defined by the Stock Purchase Agreement, at any time, or automatically upon the closing of an initial public offering.

The Preferred Shares are redeemable upon an actual or deemed redemption event as defined in the Stock Purchase Agreement or at the option of the Investor beginning on the five-year anniversary of the Close Date, if an actual or deemed redemption event has not yet occurred. The redemption price, as defined by the Stock Purchase Agreement, is equal to the original issue price of the Preferred Shares, plus 10.0% compound interest per annum on the Preferred Share issue price, plus any declared but unpaid dividends on the Preferred Shares.

The Preferred Shares are entitled to distributions upon the occurrence of a sale or liquidation of CCC Cayman representing an amount that is equal to the original issue price of the Preferred Shares, plus 10.0% compound interest per annum on the Preferred Share issue price, plus any declared but unpaid dividends.

The Preferred Shares do not participate in net income or losses.

As of June 30, 2021 and December 31, 2020, the Investor’s ownership in CCC Cayman is classified in mezzanine equity as a redeemable

non-controlling

interest, because it is redeemable on an event that is not solely in the control of the Company. The Investor’s

non-controlling

interest is not remeasured to fair value

because it is currently not probable that the

non-controlling

interest will become redeemable. If the Investor’s

non-controlling

interest becomes probable of being redeemable, the Company will be required to remeasure the

non-controlling

interest at fair value with changes in the carrying value recognized in additional

paid-in

capital.

At June 30, 2021 and December 31, 2020, the carrying value of the redeemable

non-controlling

interest was $14.2 million.

14.	REDEEMABLE NON-CONTROLLING INTEREST

as-converted

The Preferred Shares are entitled to

non-cumulative

dividends at an annual rate of 8.0%, when and if declared.

At the option of the Investor, the Preferred Shares are convertible into Ordinary Shares of CCC Cayman, initially on a

one-for-one

basis but subject to potential adjustment, as defined by the Stock Purchase Agreement, at any time, or automatically upon the closing of an initial public offering.

The Preferred Shares do not participate in net income or losses.

As of December 31, 2020, the Investor’s ownership in CCC Cayman is classified in mezzanine equity as a redeemable

non-controlling

interest, because it is redeemable on an event that is not solely in the control of the Company. The Investor’s

non-controlling

interest is not remeasured to fair value because it is currently not probable that the

non-controlling

interest will become redeemable. If the Investor’s

non-controlling

interest becomes probable of being redeemable, the Company will be required to remeasure the

non-controlling

interest at fair value with changes in the carrying value recognized in additional

paid-in

capital.

At December 31, 2020, the carrying value of the redeemable

non-controlling

interest is $14.2 million.

Capital Stock

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Class of Stock [Line Items]

Capital Stock

Note 7 — Shareholders’ Equity

Preference Shares

—The Company is authorized to issue 1,000,000 preference shares with a par value of $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. As of June 30, 2021 and December 31 ,2020, there were no preference shares issued or outstanding.

Class

A Ordinary Shares

—The Company is authorized to issue 200,000,000 Class A ordinary shares, with a par value of $0.0001 per share. Holders of Class A ordinary shares are entitled to one vote for each share. As of June 30, 2021 and December 31, 2020, there were zero and 24,893,689 Class A ordinary shares issued and outstanding, excluding 69,000,000 and 44,106,311 Class A ordinary shares subject to possible redemption, respectively.

Class

B Ordinary Shares

—The Company is authorized to issue 20,000,000 Class B ordinary shares, with a par value of $0.0001 per share. Holders of the Class B ordinary shares are entitled to one vote for each share. As of June 30, 2021 and December 31, 2020, there were 17,250,000 Class B ordinary shares issued and outstanding.

Holders of Class A ordinary shares and Class B ordinary shares will vote together as a single class on all matters submitted to a vote of shareholders, except as required by law. Prior to the Business Combination, only holders of the Founder Shares will have the right to vote on the appointment of directors. Holders of the Public Shares will not be entitled to vote on the appointment of directors during such time. In addition, prior to the completion of a Business Combination, holders of a majority of the Founder Shares may remove a member of the board of directors for any reason.

The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of a Business Combination or earlier at the option of the holders thereof at a ratio such that the number of Class A ordinary shares issuable upon conversion of all Founder Shares will equal, in the aggregate, on an

as-converted

basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding upon completion of the Initial Public Offering, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the consummation of a Business Combination, excluding any forward purchase securities and Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller in a Business Combination and any Private Placement Warrants issued to the Sponsor, its affiliates or any member of the Company’s management team upon conversion of Working Capital Loans. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less than

one-to-one.

NOTE 8 — SHAREHOLDERS’ EQUITY

Preference Shares

—The Company is authorized to issue 1,000,000 preference shares with a par value of $0.0001 per share, with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At December 31, 2020, there were no preference shares issued or outstanding.

Class

A Ordinary Shares

—The Company is authorized to issue 200,000,000 Class A ordinary shares, with a par value of $0.0001 per share. Holders of Class A ordinary shares are entitled to one vote for each share. At December 31, 2020, there were 24,893,689 Class A ordinary shares issued and outstanding, excluding 44,106,311 Class A ordinary shares subject to possible redemption.

Class

B Ordinary Shares

—The Company is authorized to issue 20,000,000 Class B ordinary shares, with a par value of $0.0001 per share. Holders of the Class B ordinary shares are entitled to one vote for each share. At December 31, 2020, there were 17,250,000 Class B ordinary shares issued and outstanding.

as-converted

one-to-one.

Class of Stock [Line Items]

Capital Stock

17.	CAPITAL STOCK

Cypress Holdings has the authority to issue 5,000,000 shares for all classes of stock with a par value of $0.001 per share, of which 3,000,000 shares are designated as Class A common stock, 500,000 shares are designated as Class B common stock, and 1,500,000 shares are designated as preferred stock. The shares of the Class A common stock and Class B common stock are identical, except with regard to voting. Each holder of Class A common stock is entitled to a number of votes equal to the number of shares of Class A common stock held by such stockholder. The Class B common stock does not entitle its holder to any voting rights other than the right to designate one director to the board as a class. The common stock is subject to various other rights and restrictions relating to transfers customary for privately held entities. Holders of common stock are entitled to receive any dividends as may be declared from time to time by the board of directors.

As of June 30, 2021, and December 31, 2020, total Class A common stock issued and outstanding was 1,450,978 shares. As of June 30, 2021, and December 31, 2020, total Class B common stock issued and outstanding was 33,178 and 29,785, respectively. As of June 30, 2021, no shares of preferred stock have been issued.

In March 2021, a dividend of $134.5 million was declared and paid to the Company’s Class A and Class B stockholders.

In February 2021, the Company issued 2,595 shares of Class B common stock to an executive and recorded stock-based compensation expense of $8.0 million, equal to the fair value of the Class B common shares at the time of issuance.

In January 2021, the Company issued 325 shares of Class B common stock to a board member for aggregate cash proceeds of $1.0 million, equal to the fair value of the Class B common shares at the time of issuance.

In February 2020, the Company issued 1,000 shares of Class B common stock to an executive and recorded stock-based compensation expense of $1.6 million, equal to the fair value of the Class B common stock at the time of issuance.

15.	CAPITAL STOCK

As of December 31, 2020, 2019 and 2018, total Class A common stock issued and outstanding was 1,450,978 shares. As of December 31, 2020, 2019 and 2018, total Class B common stock issued and outstanding was 29,785, 27,967 and 27,405, respectively. During the year ended December 31, 2020, the Company issued 1,000 shares of Class B common stock to an executive and recorded stock-based compensation expense of $1.6 million, equal to the fair value of the Class B common shares at the time of issuance. As of December 31, 2020, no shares of preferred stock have been issued.

During the year ended December 31, 2018, a dividend of $50.0 million was declared and paid to the Company’s stockholders.

Fair Value Measurements

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Note 9 — Fair Value Measurements

The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:


Level 1:		Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2:		Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.

Level 3:		Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability.

At December 31, 2020, assets held in the Trust Account were comprised of $690,000,000 in cash. At June 30, 2021, assets held in the Trust Account were comprised of $690,021,942 in money market funds. During the period ended June 30, 2021 and December 31, 2020, the Company did not withdraw any interest income from the Trust Account.

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.


	Level		June 30, 2021		December 31, 2020
Assets – Assets Held in Trust Account		1	$	690,021,942	$	—
Liabilities:
Warrant Liability – Public Warrants		1	$	27,738,000	$	59,064,000
Warrant Liability – Private Placement Warrants		3	$	34,486,796	$	90,856,186
Warrant Liability – Conversion option on working capital loan		3	$	2,365,417	$	—
FPA Liability		2	$	6,830,624	$	69,874,782

The Warrants were accounted for as liabilities in accordance with ASC

815-40

and are presented within warrant liabilities on the accompanying balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within the change in fair value of warrant liabilities in the statement of operations.

The Private Placement Warrants are valued using a Modified Black Scholes Option Pricing Model, which is considered to be a Level 3 fair value measurement. The Modified Black Scholes model’s primary unobservable input utilized in determining the fair value of the Private Placement Warrants is the expected volatility of the common stock. The expected volatility as of the Initial Public Offering date was derived from observable public warrant pricing on comparable ‘blank-check’ companies without an identified target. The expected volatility as of subsequent valuation dates was implied from the Company’s own Public Warrant pricing. The Public Warrants for periods where no observable traded price was available are valued using a barrier option simulation. For periods subsequent to the detachment of the Public Warrants from the Units, the Public Warrant quoted market price was used as the fair value as of each relevant date.

The following table presents the changes in the fair value of Level 3 warrant liabilities:


	Private Placement
Fair value as of January 1, 2021	$	90,856,186
Change in fair value		(56,369,390	)

Fair value as of June 30, 2021	$	34,486,796

Conversion Option On Working Capital Loan Liability

The liability for the conversion option was valued using a Black-Scholes Option Pricing Model, which is considered to be a Level 3 fair value measurement. The Black Scholes model’s primary unobservable input utilized in determining the fair value of the conversion option is the expected volatility of the common stock. The expected volatility was implied from the Company’s own Public Warrant pricing.

The following table presents the changes in the fair value of the conversion option liability:


	Conversion Option Liability
Fair value as of January 1, 2021	$	—
Initial classification of conversion option liability		8,480,557
Change in fair value		(6,115,140	)

Fair value as of June 30, 2021	$	2,365,417

FPA Liability

The liability for the FPAs were valued using an adjusted net assets method, which is considered to be a Level 2 fair value measurement. Under the net assets method utilized, the aggregate commitment of $175 million pursuant to the FPAs is discounted to present value and compared to the fair value of the common stock and warrants to be issued pursuant to the FPAs. The fair value of the common stock and warrants to be issued under

the FPAs are based on the public trading price of the Units issued in the Company’s IPO. The excess (liability) or deficit (asset) of the fair value of the common stock and warrants to be issued compared to the $175 million fixed commitment..

The subsequent measurement of the FPA as of June 30, 2021 is classified as Level 2 due to the use of an observable market quote in an active market and the subsequent measurement of the FPA as June 30, 2021 is classified Level 2 due to no longer using the unobservable inputs.

The following table presents a summary of the changes in the fair value of the FPA liability, a Level 2 liability, measured on a recurring basis:


	FPA Liability
Fair value as of January 1, 2021	$	69,874,782
Change in fair value		(63,044,158	)

Fair value as of June 30, 2021	$	6,830,624

There were no other transfers between levels for the six months ended June 30, 2021.

NOTE 10 — FAIR VALUE MEASUREMENTS

Level 1:

Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2:

Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.

Level 3:

Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability.

The Company classifies its U.S. Treasury and equivalent securities as

held-to-maturity

in accordance with ASC Topic 320 “Investments—Debt and Equity Securities.”

Held-to-maturity

securities are those securities which the Company has the ability and intent to hold until maturity.

Held-to-maturity

treasury securities are recorded at amortized cost and adjusted for the amortization or accretion of premiums or discounts. At December 31, 2020, the Company had no

held-to-maturity

securities.

At December 31, 2020, assets held in the Trust Account were comprised of $690,000,000 in cash. During the period ended December 31, 2020, the Company did not withdraw any interest income from the Trust Account.

The following table presents information about the Company’s liabilities that are measured at fair value on a recurring basis at December 31, 2020 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value.


	Level		December 31, 2020
Liabilities:
Warrant Liability – Public Warrants		1	$	59,064,000
Warrant Liability – Private Placement Warrants		3	$	90,856,186
FPA Liability		3	$	69,874,782

The Warrants were accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on our balance sheet. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the statement of operations.

The Private Warrants were initially valued using a Modified Black Scholes Option Pricing Model, which is considered to be a Level 3 fair value measurement. The Modified Black Scholes model’s primary unobservable input utilized in determining the fair value of the Private Warrants is the expected volatility of the common stock. The expected volatility as of the IPO date was derived from observable public warrant pricing on comparable ‘blank-check’ companies without an identified target. The expected volatility as of subsequent valuation dates was implied from the Company’s own public warrant pricing. The Public Warrants for periods where no observable traded price was available are valued using a barrier option simulation. For periods subsequent to the detachment of the Public Warrants from the Units, the Public Warrant quoted market price was used as the fair value as of each relevant date.

The following table presents the changes in the fair value of warrant liabilities:


	Private Placement		Public		Warrant Liabilities
Fair value as of July 3, 2020 (inception)	$	—	$	—	$	—
Initial measurement on August 18, 2020		22,792,602		20,412,606		43,205,208
Change in valuation inputs or other assumptions		68,063,584		38,651,394		106,714,978

Fair value as of December 31, 2020	$	90,856,186	$	59,064,000	$	149,920,186

There were no transfers in or out of Level 3 from other levels in the fair value hierarchy.

FPA Liability

The liability for the FPAs were valued using an adjusted net assets method, which is considered to be a Level 3 fair value measurement. Under the adjusted net assets method utilized, the aggregate commitment of $175 million pursuant to the FPAs is discounted to present value and compared to the fair value of the common stock and warrants to be issued pursuant to the FPAs. The fair value of the common stock and warrants to be issued under the FPAs are based on the public trading price of the Units issued in the Company’s IPO. The excess (liability) or deficit (asset) of the fair value of the common stock and warrants to be issued compared to the $175 million fixed commitment is then reduced to account for the probability of consummation of the Business Combination. The primary unobservable input utilized in determining the fair value of the FPAs is the probability of consummation of the Business Combination. As of December 31, 2020, the probability assigned to the consummation of the Business Combination was 95% which was determined based on an observed success rates of business combinations for special purpose acquisition companies.

The following table presents a summary of the changes in the fair value of the FPA liability, a Level 3 liability, measured on a recurring basis.


	FPA Liability
Fair value, July 3, 2020	$	—
Loss on change in fair value (1)		69,874,782

Fair value, December 31, 2020	$	69,874,782

(1)	Represents the non-cash loss on change in valuation of the FPA liability and is included in loss on change in fair value of FPA liability on the statement of operations.

4.	FAIR VALUE MEASUREMENTS

Assets and Liabilities Measured at Fair Value on a Recurring Basis

—As of June 30, 2021 and December 31, 2020, the Company has interest rate swaps recognized as either assets or liabilities and are measured at fair value on a recurring basis.

The fair value is estimated using inputs that are observable or that can be corroborated by observable market data and, therefore, are classified within Level 2 of the fair value hierarchy as of June 30, 2021 and December 31, 2020. At June 30, 2021, the interest rate swaps had a fair value liability of $12.0 million and are classified as interest rate swap derivatives within current liabilities in the accompanying condensed consolidated balance sheet. At December 31, 2020, the interest rate swaps had a fair value liability of $18.4 million and are classified within other liabilities in the accompanying condensed consolidated balance sheet.

The following table presents the fair value of the assets and liabilities measured at fair value on a recurring basis at June 30, 2021 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Liabilities
Interest rate swaps	$	11,993	$	—	$	11,993	$	—

Total	$	11,993	$	—	$	11,993	$	—

The following table presents the fair value of the assets and liabilities measured at fair value on a recurring basis at December 31, 2020 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Liabilities
Interest rate swaps	$	18,359	$	—	$	18,359	$	—

Total	$	18,359	$	—	$	18,359	$	—

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

—The Company has assets that under certain conditions are subject to measurement at fair value on a nonrecurring basis. These assets include those associated with acquired businesses, including goodwill and other intangible assets. For these assets, measurement at fair value in periods subsequent to their initial recognition is applicable if one or more is determined to be impaired. During the three and six months ended June 30, 2021 and the year ended December 31, 2020, the Company recognized no impairment related to these assets.

Fair Value of Other Financial Instruments

—The following table presents the carrying amounts, net of debt discount, and estimated fair values of the Company’s financial instruments that are not recorded at fair value on the condensed consolidated balance sheets (in thousands):


	June 30, 2021				December 31, 2020
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
First Lien Term Loan, including current portion	$	1,326,835	$	1,328,228	$	1,333,366	$	1,332,433

The fair value of the Company’s long-term debt, including current maturities, was estimated based on the quoted market prices for the same or similar instruments and fluctuates with changes in applicable interest rates among other factors. The fair value of long-term debt is classified as a Level 2 measurement in the fair value hierarchy and is established based on observable inputs in less active markets.

4.	FAIR VALUE MEASUREMENTS

Assets and Liabilities Measured at Fair Value on a Recurring Basis

—As of December 31, 2020 and 2019, the Company has interest rate swaps recognized as either assets or liabilities and are measured at fair value on a recurring basis.

The following table presents the fair value of the assets and liabilities measured at fair value on a recurring basis at December 31, 2020 (in thousands):


Liabilities	Fair Value		Level 1		Level 2		Level 3
Interest rate swaps	$	18,359	$	—	$	18,359	$	—

Total	$	18,359	$	—	$	18,359	$	—

The following table presents the fair value of the assets and liabilities measured at fair value on a recurring basis at December 31, 2019 (in thousands):


Liabilities	Fair Value		Level 1		Level 2		Level 3
Interest rate swaps	$	5,110	$	—	$	5,110	$	—

Total	$	5,110	$	—	$	5,110	$	—

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

—The Company has assets that under certain conditions are subject to measurement at fair value on a nonrecurring basis. These assets include those associated with acquired businesses, including goodwill and other intangible assets. For these assets, measurement at fair value in periods subsequent to their initial recognition is applicable if one or more is determined to be impaired. During the year ended December 31, 2020, the Company recognized no impairment related to these assets. During the year ended December 31, 2019, the Company recognized an impairment charge related to both goodwill and definite-lived intangible assets (Note 9). During the year ended December 31, 2018, the Company recognized no impairment related to these assets.

Fair Value of Other Financial Instruments


	December 31, 2020				December 31, 2019
Description	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
First Lien Term Loan, including current portion	$	1,333,366	$	1,332,433	$	973,386	$	979,470
Second Lien Term Loan		—		—		372,920		375,344

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

Subsequent Events

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Subsequent Event [Line Items]

Subsequent Events

Note 10 — Subsequent Events

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the unaudited condensed financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed financial statements.

NOTE 11 — SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this review, other than as describe below, except as described in Note 2, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

On January 19, 2021, the Company entered into a Convertible Promissory Note with the Sponsor pursuant to which the Sponsor agreed to loan the Company up to an aggregate principal amount of $2,000,000, which amount was drawn in full on the same day. The Convertible Promissory Note is

non-interest

bearing and due on the date on which the Company consummates a Business Combination. If the Company does not consummate a Business Combination, the Company may use a portion of any funds held outside the Trust Account to repay the Convertible Promissory Note; however, no proceeds from the Trust Account may be used for such repayment. If such funds are insufficient to repay the Promissory Note, the unpaid amounts would be forgiven. Up to $2,000,000 of the Convertible Promissory Note may be converted into warrants at a price of $1.00 per warrant at the option of the Sponsor. The warrants would be identical to the Private Placement Warrants.

On February 2, 2021, the Company entered into a business combination agreement (the “Business Combination Agreement”), by and among the Company, Chariot Merger Sub and CCC. The Domestication, the Merger and the other transactions contemplated by the Business Combination Agreement are hereinafter referred to as the “Business Combination”.

The Business Combination Agreement provides for, among other things, the following transactions on the closing date: (i) the Company will become a Delaware corporation (the “Domestication”) and, in connection with the Domestication, (A) the Company’s name will be changed as determined by CCC in its sole discretion, (B) each outstanding Class A ordinary share of the Company and each outstanding Class B ordinary share of the Company will become one share of common stock of the Company (the “Dragoneer Common Stock”), and (C) each outstanding warrant of the Company will become one warrant to purchase one share of Dragoneer Common Stock; and (ii) following the Domestication, Chariot Merger Sub will merge with and into CCC, with CCC as the surviving company in the merger and, after giving effect to such merger, continuing as a wholly owned subsidiary of the Company (the “Merger”).

Concurrently with the execution of the Business Combination Agreement, the Company entered into subscription agreements (the “Subscription Agreements”) with certain investors. Pursuant to the Subscription Agreements, each investor agreed to subscribe for and purchase, and the Company agreed to issue and sell to such investors, on the Closing Date (as defined in the Business Combination Agreement) immediately following the Closing (as defined in the Business Combination Agreement), an aggregate of 15,000,000 shares of Dragoneer Common Stock for a purchase price of $10.00 per share, for aggregate gross proceeds of $150,000,000.

Cash and Cash Equivalents

Subsequent Event [Line Items]

Subsequent Events

26.	SUBSEQUENT EVENTS

Business Combination Transaction

—On July 30, 2021, the Company consummated the previously announced Merger pursuant to the business combination agreement dated February 2, 2021, as amended, between the Company and Dragoneer.

Upon the closing of the Merger, Dragoneer was renamed “CCC Intelligent Solutions Holdings Inc.” (“New CCC”) and the Company became a wholly owned subsidiary of New CCC.

The Merger will be accounted for as a reverse recapitalization in which Dragoneer is treated as the acquired company. A reverse recapitalization does not result in a new basis of accounting, and the consolidated financial statements of the combined entity will represent the continuation of the consolidated financial statements of the Company in many respects. The Company will be deemed the accounting predecessor and New CCC will be the successor SEC registrant.

As a result of the Merger, New CCC received aggregate gross proceeds of $806 million from the Dragoneer trust account, funds received for issuance of New CCC common stock pursuant to forward purchase agreements and funds received for issuance of New CCC common stock pursuant to subscription agreements for private investments in public equity.

The Company’s outstanding and authorized shares of common stock were exchanged for shares of New CCC at a ratio of

340.5507-for-1

(the “Exchange”). After the Exchange, the number of New CCC’s issued and outstanding shares of common stock was 505,430,378, all with a par value of $0.0001. The effective date of the Exchange was July 30, 2021. The Exchange affects all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s common stock, except for adjustments that may result from the treatment of fractional shares as follows: (i) no fractional shares will be issued as a result of the Exchange; and (ii) stockholders who would have been entitled to a fractional share as a result of the Exchange will instead receive a cash payment in an amount equal to the fractional share multiplied by the closing price of our common stock the day before the Exchange became effective.

Dividend—

On July 29, 2021, the Board of Directors declared a cash dividend of $90.71 per share of Class A and Class B common stock issued and outstanding as of the close of business on July 29, 2021. The aggregate cash dividend of $134.6 million was paid on August 2, 2021.

Modification of Equity Incentive Awards

—To reflect the reduction to the Company’s enterprise value resulting from the cash dividends of $90.71 per share and $90.66 per share, declared on July 29, 2021 and March 17, 2021, respectively, the Company modified the exercise price of its outstanding stock based awards. As part of the modification, the Company paid a cash settlement totaling $9.0 million to certain award holders in lieu of modifying the exercise price.

In connection with the Merger, the Company modified the vesting terms of its performance-based awards with a market condition granted under the 2017 Plan such that the awards would vest upon the closing of the Merger. Accordingly, at the time of closing, the awards vested and were settled. This modification to the

performance-based awards with a market condition resulted in additional stock-based compensation expense recognized upon closing at July 30, 2021.

In addition, the Company modified the vesting terms of the phantom shares granted under the 2017 Plan such that the awards would vest upon the closing of the Merger. Accordingly, at the time of closing, the phantom shares vested and were settled. This modification to the phantom shares resulted in additional stock-based compensation expense recognized upon closing at July 30, 2021.

Equity Incentive Plan

—Upon completion of the Merger, the Company’s outstanding stock options were assumed by New CCC and settled in cash or became exercisable for shares of New CCC Common Stock under the 2021 Incentive Equity Plan (the “2021 Plan”). The 2021 Plan was adopted by the shareholders of Dragoneer on July 29, 2021. Upon completion of the Merger, the 2017 Plan was cancelled, and no new stock options will be issued.

The purpose of the 2021 Plan is to enable the Company to attract, retain, and motivate employees and consultants of the Company and its subsidiaries by allowing them to become owners of common stock enabling them to benefit directly from the growth, development, and financial successes of the Company.

The 2021 Plan provides the Company with the ability to grant stock-based compensation awards, including without limitation, stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, other stock or cash-based awards and dividend equivalent awards.

Pursuant to the 2021 Plan, at closing on July 30, 2021, the number of shares of common stock that may be subject to stock incentives should not exceed 147,053,215 shares in the aggregate.

Vesting conditions will be determined by the plan administrator and may apply to each award and may include continued service, performance and/or other conditions.

Long-Term Debt

—On July 30, 2021, using proceeds from the Merger, the Company made a prepayment of $525.0 million on its First Lien Term Loan. After prepayment, the First Lien Term Loan’s outstanding balance was $804.2 million.

24.	SUBSEQUENT EVENTS

Merger Agreement—

On February 2, 2021, the Company entered into a merger agreement with Dragoneer Growth Opportunities Corp., (“Dragoneer”), a Special Purpose Acquisition Company. The contemplated deal with Dragoneer would provide all holders of the Company’s common stock to receive common stock of the continuing public company, which will be a wholly owned subsidiary of Dragoneer. The proposed transaction is expected to be completed in the second quarter of 2021, subject to, among other things, the approval by Dragoneer’s shareholders, satisfaction of the conditions stated in the merger agreement and other customary closing conditions. There is no assurance that the transaction will be consummated. If consummated, the transaction will be accounted for as a reverse recapitalization and the Company has been determined to be the accounting acquirer. Further, if consummated, accelerated vesting of the performance-based stock options and Phantom stock options will occur. As the performance condition would not be satisfied upon consummation of the transaction, this will be accounted for as a modification under ASC 718.

Dividend—

On March 16, 2021, the Board of Directors declared a cash dividend of $90.66 per share of Class A and Class B common stock. The aggregate cash dividend of $134.6 million was paid on March 17, 2021.

Management has evaluated subsequent events through March 29, 2021, the date these consolidated financial statements were issued.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Basis of Presentation

10-Q

and Article 8 of Regulation

S-X

The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s amended Annual Report on Form

10-K/A

Basis of Presentation

Emerging Growth Company

non-emerging

Emerging Growth Company

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies, including, but not limited to, not being required to comply with auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

non-emerging

Use of Estimates

Cash Held in Trust Account

Cash and Marketable Securities Held in Trust Account

At June 30, 2021 and December 31, 2020, the assets held in the Trust Account were held in mutual funds and cash, respectively.

Cash Held in Trust Account

At December 31, 2020, the assets held in the Trust Account were held in cash.

Class A Ordinary Shares Subject to Possible Redemption

Class A Ordinary shares subject to possible redemption

Class A Ordinary Shares Subject to Possible Redemption

The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Class A ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, at December 31, 2020, Class A ordinary shares subject to possible redemption is presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet.

Offering Costs

Offering costs consist of underwriting, legal, accounting and other expenses incurred through the Initial Public Offering that are directly related to the Initial Public Offering. Offering costs amounting to $37,773,402 were charged to shareholders’ equity upon the completion of the Initial Public Offering. Offering costs allocated to the warrant liabilities amounted to $1,150,871, are expensed and included in other expenses in the statement of operations.

Warrant Liability

The Company accounts for the Warrants in accordance with the guidance contained in ASC

815-40

re-measurement

Warrant Liability

Income Taxes

Net Income Per Ordinary Share

Net Income (Loss) Per Ordinary Share

The Company’s statement of operations includes a presentation of income (loss) per share for ordinary shares subject to possible redemption in a manner similar to the

two-class

non-redeemable

ordinary shares is calculated by dividing the net income (loss), adjusted for income attributable to Class A redeemable ordinary shares, by the weighted average number of Class B

non-redeemable

ordinary shares outstanding for the period. Class B

non-redeemable

ordinary shares includes the Founder Shares as these shares do not have any redemption features and do not participate in the income earned on the Trust Account.

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):


	Three Months Ended June, 30			Six Months Ended June 30,
	2021			2021
Redeemable Class A Ordinary Shares
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares Interest Income earned on marketable securities held in Trust Account	$	15,703		$	21,942
Net Earnings	$	15,703		$	21,942

Denominator: Weighted Average Redeemable Class A Ordinary Shares Redeemable Class A Ordinary Shares, Basic and Diluted		69,000,000			69,000,000

Earnings/Basic and Diluted Redeemable Class A Ordinary Shares	$	0.00		$	0.00

Non-Redeemable Class B Ordinary Shares
Numerator: Net Income (Loss) minus Redeemable Net Earnings
Net Income (Loss)	$	(17,630,095	)	$	142,994,465
Redeemable Net Earnings		(15,703	)		(21,942	)

Non-Redeemable Net Income (Loss)	$	(17,645,798	)	$	142,972,523

Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares
Non-Redeemable Class B Ordinary Shares, Basic and Diluted		17,250,000			17,250,000

Earnings (loss)/Basic and Diluted Non-Redeemable Class B Ordinary Shares	$	(1.02	)	$	8.29

Note: As of June 30, 2021, basic and diluted shares are the same as there are no

non-redeemable

securities that are dilutive to the shareholders.

Net Loss Per Ordinary Share

The Company’s statement of operations includes a presentation of income (loss) per share for ordinary shares subject to possible redemption in a manner similar to the

two-class

non-redeemable

ordinary shares is calculated by dividing the net loss, adjusted for income attributable to Class A redeemable ordinary shares, by the weighted average number of Class B

non-redeemable

ordinary shares outstanding for the period. Class B

non-redeemable

ordinary shares includes the Founder Shares as these shares do not have any redemption features and do not participate in the income earned on the Trust Account.

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):


	For the Period from July 3, 2020 (inception) Through December 31, 2020
Redeemable Class A Ordinary Shares
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares
Interest Income	$	—

Net Earnings	$	—

Denominator: Weighted Average Redeemable Class A Ordinary Shares
Redeemable Class A Ordinary Shares, Basic and Diluted		69,000,000
Earnings/Basic and Diluted Redeemable Class A Ordinary Shares	$	0.00

Non-Redeemable Class B Ordinary Shares
Numerator: Net Loss minus Redeemable Net Earnings
Net Loss	$	(185,775,870	)
Redeemable Net Earnings	$	—

Non-Redeemable Net Loss	$	(185,775,870	)

Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares
Non-Redeemable Class B Ordinary Shares, Basic and Diluted		16,748,571
Loss/Basic and Diluted Non-Redeemable Class B Ordinary Shares	$	(11.09	)

Note: As of December 31, 2020, basic and diluted shares are the same as there are no

non-redeemable

securities that are dilutive to the shareholders.

Concentration of Credit Risk

Fair Value of Financial Instruments

Derivative Financial Instruments

•

Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

•

Fair Value Measurements

•

Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

•

re-valued

non-current

based on whether or not

net-cash

settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Derivative Financial Instruments

Recent Accounting Standards

In August 2020, the FASB issued ASU

No. 2020-06,

“Debt—Debt with Conversion and Other Options (Subtopic

470-20)

and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic

815-40):

Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU

2020-06”),

which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. ASU

2020-06

is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, with early adoption permitted. The Company adopted ASU

2020-06

effective as of January 1, 2021. The adoption of ASU

2020-06

did not have an impact on the Company’s financial statements.

Recent Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the Company’s financial statements.

Selling and Marketing

Internal Use Software

Accrual for Self-Insurance Costs

Cash and Cash Equivalents

Basis of Presentation

Basis of Accounting

non-controlling

interest.

Basis of Accounting

non-controlling

interest.

Use of Estimates

—The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts, and the disclosures of contingent amounts in the

Foreign Currency

—The Company’s functional currency is the US dollar; however, for operations located in China, the functional currency is the local currency. Assets and liabilities of the foreign operations are translated to US dollars at exchange rates in effect at the consolidated balance sheet date, while statement of operations accounts are translated to US dollars at the average exchange rates for the period. Translation gains and losses are recorded and remain as a component of accumulated other comprehensive loss in stockholders’ equity until transactions are settled or the foreign entity is sold or liquidated. Gains and losses resulting from transactions that are denominated in a currency that is not the functional currency are recorded to other income–net, in the consolidated statements of operations and comprehensive loss.

Revenue Recognition

— The Company’s revenue recognition policy follows guidance from Accounting Standards Codification (ASC) 606,

Revenue from Contracts with Customers.

The Company determines revenue recognition based on the application of the following steps:

•

Identification of the contract, or contracts, with a customer

•

Identification of the performance obligation(s) in the contract

•

Determination of the transaction price

•

Allocation of the transaction price to the performance obligation(s) in the contract

•

Recognition of revenue when, or as a performance obligation is satisfied

Software Subscription Revenues

For contracts where fees are solely based on transaction volume, the amount invoiced corresponds directly with the value provided to the customer, and revenue is recognized when invoiced using the

as-invoiced

practical expedient.

Other Revenue

-Other revenues are recognized over time as the services are performed and consist of professional services and other

non-software

services, including the Company’s First Party Clinical Services which was divested in December 2020 (see Note 25). Other revenues are generally invoiced monthly in arrears.

per-unit

as-invoiced

practical expedient.

Contracts with Multiple Performance Obligations

Disaggregation of Revenue-

The following table summarizes revenue by type of service for the three and six months ended June 30 (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Software subscriptions	$	159,841	$	138,565	$	311,865	$	279,039
Other		6,948		12,151		12,713		30,885

Total revenues	$	166,789	$	150,716	$	324,578	$	309,924

Transaction Price Allocated to the Remaining Performance Obligations-

Contract Liabilities

Costs to Obtain and Fulfill the Contract

Revenue Recognition

— Effective January 1, 2019, the Company’s revenue recognition policy follows guidance from Accounting Standards Codification (ASC) 606,

Revenue from Contracts with Customers.

The Company determines revenue recognition based on the application of the following steps:

•

Identification of the contract, or contracts, with a customer

•

Identification of the performance obligation(s) in the contract

•

Determination of the transaction price

•

Allocation of the transaction price to the performance obligation(s) in the contract

•

Recognition of revenue when, or as a performance obligation is satisfied

Software Subscription Revenues

For contracts with fixed and variable consideration, to the extent that customers’ usage exceeds the committed contracted amounts under their subscriptions, they are charged for their incremental usage. For such overage fees, the Company includes an estimate of the amount it expects to receive for the total transaction price if it is probable that a significant reversal of cumulative revenue recognized will not occur. Revenue recognized from overage fees was not material during the years ended December 31, 2020, 2019 and 2018. When customers’ usage falls below the committed contracted amounts, the customer does not receive any credits or refunds for the shortfall.

For contracts where fees are solely based on transaction volume, the amount invoiced corresponds directly with the value provided to the customer, and revenue is recognized when invoiced using the

as-invoiced

practical expedient.

Other Revenue

-Other revenues are recognized over time as the services are performed and consist of professional services and other

non-software

services. Other revenues are generally invoiced monthly in arrears.

per-unit

as-invoiced

practical expedient.

Contracts with Multiple Performance Obligations

-The Company’s contracts with customers can include access to different software applications such as CCC workflow, estimating, valuation and analytics, each of which is its own performance obligation. These additional services are either sold on a standalone basis or could be used on their own with readily available resources. For these contracts, the Company accounts for individual performance obligations separately, if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The standalone selling price for distinct performance obligations are generally based on directly observable pricing. In instances where

Disaggregation of Revenue-

The following table summarizes revenue by type of service for the years ended December 31 (in thousands):


	2020		2019		2018
Software subscriptions	$	573,608	$	540,219	$	492,553
Other		59,455		75,865		77,219

Total revenues	$	633,063	$	616,084	$	569,772

Transaction Price Allocated to the Remaining Performance Obligations-

Contract Liabilities

Costs to Obtain and Fulfill the Contract

ASC 605 Revenue Recognition-

Prior to the adoption of ASC 606 on January 1, 2019, the Company’s revenue recognition policy followed guidance from ASC 605,

Revenue Recognition,

and revenue was recognized pursuant to the following policy.

Other revenue primarily consists of professional services revenue that is generally transaction-based (where a fee per transaction is charged).

Income Taxes

more-likely-than-not

recognition threshold to be recognized.

Income Taxes

more-likely-than-not

recognition threshold to be recognized.

Concentration of Credit Risk

Significant Customers and Concentration of Credit Risks


	Revenue
	Year Ended December 31,
	2020			2019			2018
Customer A		*			12	%		13	%
Customer B		11	%		11	%		11	%



	Accounts Receivable
	December 31,
	2020			2019
Customer A		12	%		*
Customer B		*			14	%

Below 10%

Fair Value of Financial Instruments

Fair Value of Financial Instruments and Fair Value Measurements

Level

—Valuations based on quoted prices for identical assets and liabilities in active markets.

Level

Recent Accounting Standards

Fair Value of Financial Instruments and Fair Value Measurements

Level

—Valuations based on quoted prices for identical assets and liabilities in active markets.

Level

The Company has interest rate swaps that are recognized as either assets or liabilities and are measured at fair value. The interest rate swaps are not designated as hedges and the gains and losses from changes in fair value are recognized in earnings in the period incurred. The carrying amounts reported in the consolidated financial statements approximate the fair value for cash equivalents, trade accounts receivable, trade payables, and accrued expenses, due to their short-term nature.

Recently Issued Accounting Pronouncements

—In February 2016, the FASB issued ASU

No. 2016-02,

Leases (Topic

842)

, authoritative guidance to change the criteria for recognizing leasing transactions. Under the n

In June 2016, the FASB issued ASU

No. 2016-13,

Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments

, and subsequent amendments to the initial guidance: ASU

2018-19,

ASU

2019-04,

ASU

2019-05,

and ASU

2020-03.

In March 2020, the FASB issued ASU

2020-04,

Reference

Rate

Reform

(Topic 848): Facilitation of the Effects of Reference

Rate

Reform

on Financial Reporting

(“ASU

2020-04”),

and in January 2021 subsequently issued ASU

2021-01

(“ASU

2021-01”),

2020-04

through December 31, 2022. The Company is evaluating the impact of the adoption of this guidance on its consolidated financial statements.

Cost of Revenues

—Cost of revenues is primarily composed of personnel costs and costs of external resources used in the delivery of services to customers, including software configuration, integration services, customer support activities, third party costs related to hosting the Company’s software for its customers, internal support of production infrastructure, depreciation expense, cost of software production, and license and royalty fees paid to third parties. Cost of revenues also includes amortization of internal use software, acquired technologies, and impairment charges on acquired technologies.

Research and Development

Selling and Marketing

General and Administrative

Amortization of Intangible Assets

Stock-Based Compensation

The Company recognizes stock-based compensation expense for time-based awards on a straight-line basis over the requisite service period, which is generally the vesting period of the respective awards. Stock-based compensation expense for the performance-based and market-based options is not recognized until the performance condition is probable of occurring.

The fair value of the Company’s awards with only a time-based component is estimated using the Black Scholes option pricing model. The fair value of the Company’s performance-based and market-based awards is estimated using the Monte Carlo simulation method. The assumptions utilized under these methods require judgments and estimates. Changes in these inputs and assumptions could affect the measurement of the estimated fair value of the related compensation expense of these stock-based payment awards.

Accounts Receivable—Net

Software, Equipment, and Property—Net


Software, equipment, and property	Estimated Useful Life
Software and licenses		2-5 years
Computer equipment		3 years
Leasehold improvements		3-15 years
Furniture and other equipment		5 years
Database		25 years
Building		39 years
Land		Indefinite

Maintenance and repairs are expensed as incurred. Major betterments are capitalized.

Software, Equipment, and Property—Net


		Software, equipment and property		Estimated Useful Life

		Software and licenses		2-5 years
		Computer equipment		3 years
		Leasehold improvements		3-15 years
		Furniture and other equipment		5 years
		Database		25 years
		Building		39 years
		Land		Indefinite

Maintenance and repairs are expensed as incurred. Major renewals or betterments are capitalized.

Internal Use Software

Goodwill and Intangible Assets

— Goodwill and intangible assets deemed to have indefinite lives are not amortized, but are subjected to an annual impairment test as of September 30 of each fiscal year, or more frequently if events or changes in circumstances indicate that the carrying value may not be recoverable. Testing goodwill and intangible assets for impairment involves comparing the fair value of the reporting unit or intangible asset to its carrying value. If the carrying amount of a reporting unit or intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to the excess, up to the carrying value of the goodwill or intangible asset. The Company performed the impairment test of its reporting units for the years ended December 31, 2020, 2019 and 2018. For the year ended December 31, 2020, the Company determined no impairment existed. For the year ended December 31, 2019, the Company recognized a goodwill impairment charge of $25.8 million (Note 9). For the year ended December 31, 2018, the Company determined no impairment existed.

Long-Lived Assets

—Long-lived assets, other than goodwill, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets might not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset or asset group to estimated undiscounted future cash flows expected to be generated by such assets. If the carrying amount of the assets exceeds their estimated future cash flows, an impairment charge is recognized equal to the amount by which the carrying amount of the assets exceeds their fair value. No impairment charges were recognized during the year ended December 31, 2020. During the year ended December 31, 2019, the Company recognized an impairment charge of $181.3 million on its definite-lived intangible assets (Note 9). No impairment charges were recognized during the year ended December 31, 2018.

Deferred Financing Costs

—Deferred financing costs are capitalized and amortized over the life of the underlying financing agreement (see Note 14).

Deferred Financing Costs

—Deferred financing costs are capitalized and amortized over the life of the underlying financing agreement. See Note 12 Long-Term Debt for additional information.

Accrual for Self-Insurance Costs

Leases

—Effective January 1, 2021, the Company adopted Accounting Standards Update

2016-02

(ASU

2016-02)

which created a new topic, ASC 842 “Leases.”

right-of-use

asset related to the lease.

non-lease

Leases

—The Company is a lessee of facilities in the United States and China and certain equipment under

non-cancelable

Recently Adopted Accounting Pronouncements

—In February 2016, FASB issued Accounting Standards Update

2016-02

(ASU

2016-02)

which created a new topic, ASC 842 “Leases,” which requires companies to recognize on the consolidated balance sheet assets and liabilities for the rights and obligations created by the leases.

The Company adopted ASC 842 effective January 1, 2021 using the modified retrospective transition method as allowed under ASU

2018-11

non-lease

contract components in all of its underlying asset categories.

Due to the adoption of this guidance, the Company recognized operating

right-of-use

assets and operating lease liabilities of $47.1 million and $53.0 million, respectively, as of the date of adoption. The difference between the

right-of-use

Recently Issued Accounting Pronouncements

—In June 2016, the FASB issued ASU

No. 2016-13,

Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments

, and subsequent amendments to the initial guidance: ASU

2018-19,

ASU

2019-04,

ASU

2019-05,

and ASU

2020-03.

In March 2020, the FASB issued ASU

2020-04,

Reference

Rate

Reform

(Topic 848): Facilitation of the Effects of Reference

Rate

Reform

on Financial Reporting

(“ASU

2020-04”),

and in January 2021 subsequently issued ASU

2021-01

(“ASU

2021-01”),

2020-04

through December 31, 2022. The Company is evaluating the impact of the adoption of this guidance on its condensed consolidated financial statements.

Recently Adopted Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU

No. 2014-09

, Revenue from Contracts with Customers (Topic 606)

. This standard superseded the revenue recognition requirements in

ASC Topic 605,

Revenue Recognition (Topic 605)

340-40,

Other Assets and Deferred Costs – Contracts with Customers,

2014-09

beginning on January 1, 2019 using the modified retrospective method and increased retained earnings by $11.9 million.

Prior year amounts have not been adjusted and continue to be reported in accordance with the Company’s historical accounting policies.

The impact of adoption to the consolidated balance sheet at December 31, 2019 was as follows (in thousands):


				Balances without
	As reported			adoption of Topic 606			Effect of adoption
Assets
Deferred contract costs	$	10,807		$	—		$	10,807
Long-term deferred contract costs		12,463			—			12,463
Liabilities and stockholders’ equity
Deferred income taxes-net		333,472			327,572			5,900
Accumulated deficit		(112,494	)		(129,864	)		17,370

The impact of adoption to the December 31, 2019 consolidated statement of operations and comprehensive loss was as follows (in thousands, except per share data):


				Balances without
	As reported			adoption of Topic 606			Effect of adoption
Revenues	$	616,084		$	616,084		$	—
Cost of revenues		191,868			192,286			(418	)
Selling and marketing		82,109			88,912			(6,803	)
Operating loss		(166,202	)		(173,423	)		7,221
Income tax benefit		67,293			69,040			(1,747	)
Net loss		(210,340	)		(215,814	)		5,474
Net loss per share attributable to Class A and Class B common stockholders - basic and diluted	$	(142.28	)	$	(145.98	)	$	3.70

The adoption of Topic 606 had no impact to cash from or used in operating, financing or investing activities within the consolidated statements of cash flows.

Equity Method Investment

The Company’s share of the investee’s earnings is reported within other income (loss) in the Company’s condensed consolidated statements of operations and comprehensive income (loss).

Restatement Of Previously Issued Financial Statements (Tables)

6 Months Ended

Dec. 31, 2020

Restatement Of Previously Issued Financial Statements [Abstract]

Summary of restatement of financial statements


	As Previously Reported			Adjustments			As Restated
Balance sheet as of August 18, 2020 (audited)
Total Liabilities	$	25,131,073		$	43,439,891		$	68,570,964
Class A Ordinary Shares Subject to Redemption		661,895,720			(43,439,891	)		618,455,829
Class A Ordinary Shares		281			434			715
Additional Paid in Capital		5,003,001			8,377,722			13,380,723
Accumulated Deficit		(5,000	)		(8,378,156	)		(8,383,156	)
Number of Class A ordinary shares subject to redemption		66,189,572			(4,343,989	)		61,845,583


Balance sheet as of September 30, 2020 (unaudited)
Total Liabilities	$	25,274,901		$	116,489,061		$	141,763,962
Class A Ordinary Shares Subject to Redemption		661,858,040			(116,489,061	)		545,368,979
Class A Ordinary Shares		281			1,165			1,446
Additional Paid-in Capital		5,040,681			81,426,161			86,466,842
Accumulated Deficit		(42,685	)		(81,427,326	)		(81,470,011	)
Number of Class A ordinary shares subject to redemption		66,185,804			(11,648,906	)		54,536,898


Balance sheet as of December 31, 2020 (audited)
Total Liabilities	$	25,068,093		$	219,794,968		$	244,863,061
Class A Ordinary Shares Subject to Redemption		660,858,080			(219,794,968	)		441,063,112
Class A Ordinary Shares		291			2,198			2,489
Additional Paid-in Capital		6,040,631			184,731,035			190,771,666
Accumulated Deficit		(1,042,637	)		(184,733,233	)		(185,775,870	)
Number of Class A ordinary shares subject to redemption		66,085,808			(21,979,497	)		44,106,311


Statement of operations for the period from July 3, 2020 (inception) to September 30, 2020 (unaudited)
Net loss	$	(42,685	)	$	(81,427,326	)	$	(81,470,011	)
Weighted average shares outstanding – Class A redeemable shares		69,000,000			—			69,000,000
Basic and Diluted EPS – Class A		0.00			0.00			0.00
Weighted average shares outstanding – Class B		17,250,000			—			17,250,000
Basic and Diluted EPS – Class B		0.00			(4.72	)		(4.72	)
Statement of operations for the period from July 3, 2020 (inception) to December 31, 2020 (audited)
Net loss	$	(1,042,637	)	$	(184,733,233	)	$	(185,775,870	)
Weighted average shares outstanding – Class A redeemable shares		69,000,000			—			69,000,000
Basic and Diluted EPS – Class A		0.00			0.00			0.00
Weighted average shares outstanding – Class B		17,250,000			—			16,748,571
Basic and Diluted EPS – Class B		(0.06	)		(11.03	)		(11.09	)

Summary of Significant Accounting Policies (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Summary Of Earning Per Share Basic And Diluted

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):


	Three Months Ended June, 30			Six Months Ended June 30,
	2021			2021
Redeemable Class A Ordinary Shares
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares Interest Income earned on marketable securities held in Trust Account	$	15,703		$	21,942
Net Earnings	$	15,703		$	21,942

Denominator: Weighted Average Redeemable Class A Ordinary Shares Redeemable Class A Ordinary Shares, Basic and Diluted		69,000,000			69,000,000

Earnings/Basic and Diluted Redeemable Class A Ordinary Shares	$	0.00		$	0.00

Non-Redeemable Class B Ordinary Shares
Numerator: Net Income (Loss) minus Redeemable Net Earnings
Net Income (Loss)	$	(17,630,095	)	$	142,994,465
Redeemable Net Earnings		(15,703	)		(21,942	)

Non-Redeemable Net Income (Loss)	$	(17,645,798	)	$	142,972,523

Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares
Non-Redeemable Class B Ordinary Shares, Basic and Diluted		17,250,000			17,250,000

Earnings (loss)/Basic and Diluted Non-Redeemable Class B Ordinary Shares	$	(1.02	)	$	8.29

Note: As of June 30, 2021, basic and diluted shares are the same as there are no

non-redeemable

securities that are dilutive to the shareholders.

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):


	For the Period from July 3, 2020 (inception) Through December 31, 2020
Redeemable Class A Ordinary Shares
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares
Interest Income	$	—

Net Earnings	$	—

Denominator: Weighted Average Redeemable Class A Ordinary Shares
Redeemable Class A Ordinary Shares, Basic and Diluted		69,000,000
Earnings/Basic and Diluted Redeemable Class A Ordinary Shares	$	0.00

Non-Redeemable Class B Ordinary Shares
Numerator: Net Loss minus Redeemable Net Earnings
Net Loss	$	(185,775,870	)
Redeemable Net Earnings	$	—

Non-Redeemable Net Loss	$	(185,775,870	)

Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares
Non-Redeemable Class B Ordinary Shares, Basic and Diluted		16,748,571
Loss/Basic and Diluted Non-Redeemable Class B Ordinary Shares	$	(11.09	)

Summary of The Company's Total Revenue or Accounts Receivable


	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2021		2020			2021		2020
Customer A		*			*		*			*
Customer B		*		10	%		*		11	%

Below 10%

For each significant customer, accounts receivable as a percentage of net accounts receivable is as follows:


	June 30, 2021			December 31, 2020
Customer A		10	%		12	%
Customer B		13	%			*

Below 10%

Summary Of Earning Per Share Basic And Diluted

The following table sets forth a reconciliation of the numerator and denominator used to compute basic earnings per share of common stock (in thousands, except for share and per share data).


	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2021		2020			2021			2020
Numerator
Net income (loss)	$	3,816	$	(1,961	)	$	(1,268	)	$	(27,213	)

Denominator
Weighted average shares of common stock - basic		1,484,156		1,480,262			1,483,634			1,479,918
Dilutive effect of stock options		53,611		—			—			—

Weighted average shares of common stock - diluted		1,537,767		1,480,262			1,483,634			1,479,918

Net income (loss) per share:
Basic	$	2.57	$	(1.32	)	$	(0.85	)	$	(18.39	)
Diluted	$	2.48	$	(1.32	)	$	(0.85	)	$	(18.39	)

The following table sets forth a reconciliation of the numerator and denominator used to compute basic earnings per share of common stock (in thousands, except for share and per share data).


	Year ended December 31,
	2020			2019			2018
Numerator
Net loss	$	(16,876	)	$	(210,340	)	$	(55,031	)

Denominator
Weighted average shares of common stock - basic and diluted		1,480,296			1,478,350			1,478,373
Net loss per share - basic and diluted	$	(11.40	)	$	(142.28	)	$	(37.22	)

Summary of The Company's Total Revenue or Accounts Receivable


	Revenue
	Year Ended December 31,
	2020			2019			2018
Customer A		*			12	%		13	%
Customer B		11	%		11	%		11	%



	Accounts Receivable
	December 31,
	2020			2019
Customer A		12	%		*
Customer B		*			14	%

Below 10%

Summarizes Revenue By Type of Service

The following table summarizes revenue by type of service for the three and six months ended June 30 (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Software subscriptions	$	159,841	$	138,565	$	311,865	$	279,039
Other		6,948		12,151		12,713		30,885

Total revenues	$	166,789	$	150,716	$	324,578	$	309,924

The following table summarizes revenue by type of service for the years ended December 31 (in thousands):


	2020		2019		2018
Software subscriptions	$	573,608	$	540,219	$	492,553
Other		59,455		75,865		77,219

Total revenues	$	633,063	$	616,084	$	569,772

Summary of Property Plant Equipment Estimated Useful Life

Depreciation and amortization are computed on a straight-line basis over the asset’s estimated useful lives, which are as follows:


Software, equipment, and property	Estimated Useful Life
Software and licenses		2-5 years
Computer equipment		3 years
Leasehold improvements		3-15 years
Furniture and other equipment		5 years
Database		25 years
Building		39 years
Land		Indefinite

Depreciation and amortization are computed on a straight-line basis over the asset’s estimated useful lives, which are as follows:


		Software, equipment and property		Estimated Useful Life

		Software and licenses		2-5 years
		Computer equipment		3 years
		Leasehold improvements		3-15 years
		Furniture and other equipment		5 years
		Database		25 years
		Building		39 years
		Land		Indefinite

Summary of The Consolidated Balance Sheet

The impact of adoption to the consolidated balance sheet at December 31, 2019 was as follows (in thousands):


				Balances without
	As reported			adoption of Topic 606			Effect of adoption
Assets
Deferred contract costs	$	10,807		$	—		$	10,807
Long-term deferred contract costs		12,463			—			12,463
Liabilities and stockholders’ equity
Deferred income taxes-net		333,472			327,572			5,900
Accumulated deficit		(112,494	)		(129,864	)		17,370

Summary of The Consolidated Statement of Operations and Comprehensive Loss

The impact of adoption to the December 31, 2019 consolidated statement of operations and comprehensive loss was as follows (in thousands, except per share data):


				Balances without
	As reported			adoption of Topic 606			Effect of adoption
Revenues	$	616,084		$	616,084		$	—
Cost of revenues		191,868			192,286			(418	)
Selling and marketing		82,109			88,912			(6,803	)
Operating loss		(166,202	)		(173,423	)		7,221
Income tax benefit		67,293			69,040			(1,747	)
Net loss		(210,340	)		(215,814	)		5,474
Net loss per share attributable to Class A and Class B common stockholders - basic and diluted	$	(142.28	)	$	(145.98	)	$	3.70

Revenue (Tables) - Cypress Holdings Inc And Subsidiaries [Member]

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Contract With Customer Asset And Liability [Line Items]

Summary of receivables contract assets and contract liabilities from contracts with customers

The opening and closing balances of the Company’s receivables, contract assets and contract liabilities from contracts with customers are as follows (in thousands):


	June 30, 2021		December 31, 2020
Accounts receivables-Net of allowances	$	81,817	$	74,107
Deferred contract costs		12,681		11,917
Long-term deferred contract costs		15,986		14,389
Deferred revenues		28,824		26,514
Other liabilities (deferred revenues, non-current)		1,932		2,001

The opening and closing balances of the Company’s receivables, contract assets and contract liabilities from contracts with customers are as follows (in thousands):


	December 31, 2020		December 31, 2019		January 1, 2019
Accounts receivables-Net of allowances	$	74,107	$	63,613	$	59,252
Deferred contract costs		11,917		10,807		6,526
Long-term deferred contract costs		14,389		12,463		9,432
Deferred revenues		26,514		25,096		22,787
Other liabilities (deferred revenues, non-current)		2,001		1,160		—

Summary of deferred revenue

A summary of the activity impacting deferred revenue balances during the three and six months ended June 30, 2021 and 2020, is presented below (in thousands):


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2021			2020			2021			2020
Balance at beginning of period	$	30,109		$	27,874		$	28,515		$	26,256
Revenue recognized 1		(82,159	)		(71,159	)		(163,121	)		(148,065	)
Additional amounts deferred 1		82,806			71,963			165,362			150,487

Balance at end of period	$	30,756		$	28,678		$	30,756		$	28,678

1	Amounts include total revenue deferred and recognized during each respective period.

A summary of the activity impacting deferred revenue balances during the years ended December 31, 2020 and 2019 is presented below (in thousands):


	2020			2019
Balance at beginning of period	$	26,256		$	22,787
Revenue recognized 1		(305,812	)		(283,383	)
Additional amounts deferred 1		308,071			286,852

Balance at end of period	$	28,515		$	26,256

Summary of deferred contract costs

A summary of the activity impacting the deferred contract costs during the three and six months ended June 30, 2021 and 2020 is presented below (in thousands):


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2021			2020			2021			2020
Balance at beginning of period	$	26,554		$	23,608		$	26,361		$	23,270
Costs amortized		(3,612	)		(2,957	)		(7,317	)		(6,053	)
Additional amounts deferred		5,725			3,433			9,623			6,867

Balance at end of period	$	28,667		$	24,084		$	28,667		$	24,084

Classified as:
Current	$	12,681		$	10,679		$	12,681		$	10,679
Non-current		15,986			13,405			15,986			13,405

Total deferred contract costs	$	28,667		$	24,084		$	28,667		$	24,084

A summary of the activity impacting the deferred contract costs during the years ended December 31, 2020 and 2019 is presented below (in thousands):


	2020			2019
Balance at beginning of period	$	23,270		$	—
Adoption of ASC 606		—			15,958
Costs amortized		(12,446	)		(9,375	)
Additional amounts deferred		15,482			16,687

Balance at end of period	$	26,306		$	23,270

Classified as:
Current	$	11,917		$	10,807
Non-current		14,389			12,463

Total deferred contract costs	$	26,306		$	23,270

Commitments (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Future Minimum Rental Payments for Operating Leases

The Company leases facilities and office equipment under noncancelable operating lease agreements that expire at various dates through 2037. As of December 31, 2020, future minimum cash lease payments are as follows (in thousands):


	2021		2022		2023		2024		2025		Thereafter		Total

Operating leases	$	7,143	$	6,090	$	5,180	$	7,059	$	7,243	$	68,415	$	101,130

Long-term Purchase Commitment

The Company has long-term agreements with suppliers and other parties related to licensing data used in its products and services, outsourced data center, disaster recovery, and software as a service that expire at various dates through 2031. Under the terms of these agreements with suppliers, the Company has future minimum obligations as of December 31, 2020, as follows (in thousands):


	2021		2022		2023		2024		2025		Thereafter		Total

Purchase obligations	$	17,069	$	14,669	$	9,900	$	9,900	$	9,900	$	59,400	$	120,838

Equity Method Investment (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Equity Method Investments [Line Items]

Summary of Change in the Carrying Value of the Investment

As of June 30, 2021, the change in the carrying value of the investment is summarized below as follows (in thousands):


	Equity Method Investment
Equity method investment carrying value at December 31, 2020	$	—
Cash contributions		10,228
Share of net income (loss) from the Investee		—

Equity method investment carrying value at June 30, 2021	$	10,228

Income Taxes (Tables) - Cypress Holdings Inc And Subsidiaries [Member]

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Line Items]

Schedule of Components of Pretax Loss Attributable to Domestic and Foreign Operations

The components of pretax loss attributable to domestic and foreign operations are as follows (in thousands):


	Years Ended December 31,
	2020			2019			2018
Domestic	$	(15,117	)	$	(270,428	)	$	(51,102	)
Foreign		(6,438	)		(7,205	)		(6,952	)

Pretax loss	$	(21,555	)	$	(277,633	)	$	(58,054	)

Schedule of Components of Income Tax Benefit

The income tax benefit consists of the following (in thousands):


	Years Ended December 31,
	2020			2019			2018
Current provision (benefit):
Federal	$	1,539		$	13,685		$	(1,083	)
State		4,906			3,302			1,809

Total current provision		6,445			16,987			726

Deferred provision (benefit):
Federal		(7,536	)		(67,874	)		(11,699	)
State		(3,588	)		(16,406	)		7,950
Foreign		(1,710	)		(1,873	)		(281	)
Change in valuation allowance		1,710			1,873			281

Total deferred benefit		(11,124	)		(84,280	)		(3,749	)

Total income tax benefit	$	(4,679	)	$	(67,293	)	$	(3,023	)

Summary of Effective Income Tax Rate Differs from the Federal Statutory Rate

The Company’s effective income tax rate differs from the federal statutory rate as follows (in thousands, except percentages):


	Year Ended					Year Ended					Year Ended
	December 31, 2020					December 31, 2019					December 31, 2018
Federal income tax benefit at statutory rate	$	(4,527	)	21.0	%	$	(58,303	)	21.0	%	$	(12,191	)	21.0	%
State and local taxes-net of federal income tax effect		288		(1.3	)		(13,797	)	5.0			9,378		(16.2	)
Impairment of goodwill		—		—			5,417		(2.0	)		—		—
Foreign rate difference		(227	)	1.1			(284	)	0.1			(272	)	0.5
Research and experimental credit		(3,058	)	14.2			(2,401	)	0.9			(1,926	)	3.3
Other nondeductible expenses		812		(3.8	)		441		(0.2	)		445		(0.8	)
Uncertain tax positions		589		(2.7	)		574		(0.2	)		230		(0.4	)
Valuation allowance		1,572		(7.3	)		1,926		(0.7	)		1,480		(2.5	)
Other—net		(128	)	0.5			(866	)	0.3			(167	)	0.3

Income tax benefit	$	(4,679	)	21.7	%	$	(67,293	)	24.2	%	$	(3,023	)	5.2	%

Schedule of Deferred Income Tax Assets and Liabilities

The approximate income tax effect of each type of temporary difference giving rise to deferred income tax assets and liabilities as of December 31, 2020 and 2019 was as follows (in thousands):


	2020			2019

Deferred income tax assets:
Accrued compensation	$	7,020		$	7,848
Net operating losses—foreign		9,347			7,637
Stock-based compensation		6,558			4,399
Research and experimental credit		2,005			1,352
Sales allowances and doubtful accounts		1,074			1,008
Capitalized acquisition costs		211			238
Net operating losses—domestic (state)		716			726
Disallowed interest expense		2,086			16,324
Interest rate swaps		4,685			1,301
Other		2,474			732


Total deferred income tax assets		36,176			41,565

Valuation allowance for deferred tax asset		(9,347	)		(7,637	)


Net deferred income tax assets		26,829			33,928


Deferred income tax liabilities:
Intangible asset amortization		331,941			354,628
Software, equipment and property depreciation and amortization		10,526			6,872
Deferred contract costs		6,710			5,900


Total deferred income tax liabilities		349,177			367,400


Net deferred income tax liabilities	$	322,348		$	333,472

Schedule of Change in Unrecognised Tax Benefits Excluding Interest and Penalties

The change in unrecognized tax benefits excluding interest and penalties for the years ended December 31, 2020 and 2019 was as follows (in thousands):


	2020			2019
Balance at beginning of year	$	2,306		$	1,508
Additions based on tax positions related to the current year		719			589
Additions based on true ups to tax positions of prior years		91			248
Reductions for tax positions of prior years		(71	)		(39	)

Balance at end of year	$	3,045		$	2,306

Summary of Major Jurisdictions Subject to Examination by the relevant Tax Auhtorities and Open Tax Years

With few exceptions, the major jurisdictions subject to examination by the relevant tax authorities and open tax years, stated as the Company’s fiscal years, are as follows:


Jurisdiction		Open Tax Years
US Federal		2017 - 2019
US States		2017 - 2019
China		2017 - 2019
Canada		2017 - 2019

Accounts Receivable (Tables) - Cypress Holdings Inc And Subsidiaries [Member]

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Accounts, Notes, Loans and Financing Receivable [Line Items]

Schedule of Accounts Receivable, Net

Accounts receivable–net as of June 30, 2021 and December 31, 2020, consists of the following (in thousands):


	June 30, 2021			December 31, 2020
Accounts receivable	$	86,035		$	78,331
Allowance for doubtful accounts and sales reserves		(4,218	)		(4,224	)

Accounts receivable–net	$	81,817		$	74,107

Accounts receivable–net as of December 31, 2020 and 2019, consists of the following (in thousands):


	2020			2019

Accounts receivable	$	78,331		$	67,583
Allowance for doubtful accounts and sales reserves		(4,224	)		(3,970	)


Accounts receivable–net	$	74,107		$	63,613

Schedule of Changes to the Allowance for Doubtful Accounts and Sales Reserves

Changes to the allowance for doubtful accounts and sales reserves during the three and six months ended June 30, 2021 and 2020, consists of the following (in thousands):


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2021			2020			2021			2020
Balance at beginning of period	$	3,931		$	4,482		$	4,224		$	3,970
Charges to bad debt and sales reserves		640			618			1,706			1,863
Write-offs, net		(353	)		(1,182	)		(1,712	)		(1,915	)

Balance at end of period	$	4,218		$	3,918		$	4,218		$	3,918

Changes to the allowance for doubtful accounts and sales reserves during the y

ars ended December 31, 2020, 2019 and 2018, consists of the following (in thousands):


	2020			2019			2018
Balance at beginning of period	$	3,970		$	3,024		$	6,472
Charges to bad debt and sales reserves		3,814			3,113			2,375
Write-offs, net		(3,560	)		(2,167	)		(5,823	)


Balance at end of period	$	4,224		$	3,970		$	3,024

Other Current Assets (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Prepaid Expense And Other Assets Current [Line Items]

Schedule of Other Current Assets

Other current assets as of June 30, 2021 and December 31, 2020, consist of the following (in thousands):


	June 30, 2021		December 31, 2020
Prepaid software and equipment maintenance	$	5,824	$	7,499
Prepaid SaaS costs		4,740		4,290
Prepaid service fees		3,105		3,969
Non-trade receivables		8,137		9,095
Deferred business combination costs		2,950		—
Other		8,768		6,733

Total	$	33,524	$	31,586

Other current assets as of December 31, 2020 and 2019, consist of the following (in thousands):


	2020		2019

Prepaid software and equipment maintenance	$	7,499	$	7,491
Prepaid SaaS costs		4,290		3,913
Prepaid service fees		3,969		4,256
Non-trade receivables		9,095		1,144
Other		6,733		4,511


Total	$	31,586	$	21,315

Software, Equipment, And Property (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Property, Plant and Equipment [Line Items]

Schedule of Software,Equipment and Property

Software, equipment, and property as of June 30, 2021 and December 31, 2020, consist of the following (in thousands):


	June 30, 2021			December 31, 2020
Software, licenses and database	$	125,269		$	109,967
Computer equipment		29,510			27,733
Leasehold improvements		14,005			13,397
Furniture and other equipment		4,982			5,000
Building and land		4,910			4,910

Total software, equipment, and property		178,676			161,007

Less accumulated depreciation and amortization		(70,036	)		(59,569	)

Net software, equipment, and property	$	108,640		$	101,438

Software, equipment, and property as of December 31, 2020 and 2019, consist of the following (in thousands):


	2020			2019

Software, licenses and database	$	109,967		$	91,111
Computer equipment		27,733			22,229
Leasehold improvements		13,397			10,085
Furniture and other equipment		5,000			3,610
Building and land		4,910			4,910


Total software, equipment, and property		161,007			131,945

Less accumulated depreciation and amortization		(59,569	)		(42,441	)


Net software, equipment, and property	$	101,438		$	89,504

Leases (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Leases [Line Items]

Schedule of Future Minimum Rental Payments for Operating Leases


	2021		2022		2023		2024		2025		Thereafter		Total

Operating leases	$	7,143	$	6,090	$	5,180	$	7,059	$	7,243	$	68,415	$	101,130

Summary of Supplemental Cash Flow and other Information Related to Leases

Leases [Line Items]

Summary of Lease Cost

The components of lease expense for the three and six months ended June 30, 2021 were as follows (in thousands):


	For the Three Months Ended June 30, 2021		For the Six Months Ended June 30, 2021
Operating lease costs	$	4,542	$	9,136
Variable lease costs		461		1,063

Total lease costs	$	5,003	$	10,199

The lease term and discount rate consisted of the following at June 30, 2021:


Weighted-average remaining lease term (years)	11.1
Weighted-average discount rate	6.1	%

Supplemental cash flow and other information related to leases for the three and six months ended June 30, 2021 were as follows (in thousands):


	For the Three Months Ended June 30, 2021		For the Six Months Ended June 30, 2021
Cash payments for operating leases	$	3,030	$	5,998
Operating lease assets obtained in exchange for lease liabilities		2,365		2,365

Summary of Operating Lease Liabilities


Years Ending December 31:

Remainder of 2021	$	5,506
2022		8,599
2023		6,092
2024		7,195
2025		7,243
Thereafter		68,416

Total Lease Payments		103,051
Less: Interest		(35,299	)
Less: Lease incentive recognized as offset to lease liability		(16,868	)

Total	$	50,884

Schedule of Future Minimum Rental Payments for Operating Leases


Years Ending December 31:

2021	$	7,143
2022		6,090
2023		5,180
2024		7,059
2025		7,243
Thereafter		68,415

Total	$	101,130

Goodwill and Intangible Assets (Tables) - Cypress Holdings Inc And Subsidiaries [Member]

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Goodwill [Line Items]

Schedule of Changes in the Carrying Amount of Goodwill

Changes in the carrying amount of goodwill were as follows (in thousands):


Reconciliation of Goodwill carrying amount	Cost		Accumulated Impairment Loss			Net Carrying Value
Balance as of December 31, 2020	$	1,492,681	$	(25,797	)	$	1,466,884
Balance as of December 31, 2019		1,492,681		(25,797	)		1,466,884

Summary of Intangible Assets Balance

The intangible assets balance as of June 30, 2021, is reflected below (in thousands):


	Estimated Useful Life (Years)		Weighted- Average Remaining Useful Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets:
Customer relationships		16–18		13.8	$	1,299,750	$	(301,699	)	$	998,051
Acquired technologies		3–7		2.8		183,160		(109,158	)		74,002
Favorable lease terms		6		1.8		280		(195	)		85

Subtotal						1,483,190		(411,052	)		1,072,138
Trademarks—indefinite life						190,470		—			190,470

Total intangible assets					$	1,673,660	$	(411,052	)	$	1,262,608

The intangible assets balance as of December 31, 2020, is reflected below (in thousands):


	Estimated Useful Life (Years)		Weighted- Average Remaining Useful Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Intangible assets:
Customer relationships		16–18		14.3	$	1,299,750	$	(265,567	)	$	1,034,183
Acquired technologies		3–7		3.3		183,154		(95,998	)		87,156
Favorable lease terms		6		2.3		280		(172	)		108

Subtotal						1,483,184		(361,737	)		1,121,447
Trademarks—indefinite life						190,470		—			190,470

Total intangible assets					$	1,673,654	$	(361,737	)	$	1,311,917

The intangible assets balance as of December 31, 2020, is reflected below (in thousands):


	2020
	Estimated Useful Life (Years)		Weighted- Average Remaining Useful Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount

Intangible assets:
Customer relationships		16–18		14.3	$	1,299,750	$	(265,567	)	$	1,034,183
Acquired technologies		3–7		3.3		183,154		(95,998	)		87,156
Favorable lease terms		6		2.3		280		(172	)		108


Subtotal						1,483,184		(361,737	)		1,121,447

Trademarks—indefinite life						190,470		—			190,470


Total intangible assets					$	1,673,654	$	(361,737	)	$	1,311,917

The intangible assets balance as of December 31, 2019, is reflected below (in thousands):


	2019
	Estimated Useful Life (Years)		Weighted- Average Remaining Useful Life (Years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount

Intangible assets:
Customer relationships		16–18		15.3	$	1,299,750	$	(193,304	)	$	1,106,446
Acquired technologies		3–7		4.3		183,141		(69,695	)		113,446
Favorable lease terms		6		3.3		280		(125	)		155


Subtotal						1,483,171		(263,124	)		1,220,047

Trademarks—indefinite life						190,470		—			190,470


Total intangible assets					$	1,673,641	$	(263,124	)	$	1,410,517

Schedule of Future Amortization Expense for Intangible Assets


Years Ending December 31:
2021	$	49,318
2022		98,627
2023		98,333
2024		80,731
2025		72,263
Thereafter		672,866

Total	$	1,072,138

Future amortization expense for each of the next five years and thereafter for intangible assets as of December 31, 2020, is as follows (in thousands):


Years Ending December 31

2021	$	98,627
2022		98,627
2023		98,333
2024		80,731
2025		72,263
Thereafter		672,866


Total	$	1,121,447

Accrued Expenses (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Schedule Of Accrued Expenses

Payables And Accruals [Line Items]

Accrued expenses as of June 30, 2021 and December 31, 2020, consist of the following (in thousands):


	June 30, 2021		December 31, 2020
Compensation	$	32,439	$	37,696
Professional services		13,530		2,753
Royalties and licenses		2,602		2,301
Sales tax		2,503		2,294
Employee insurance benefits		2,130		1,979
Software license agreement		1,917		—
Other		3,272		5,964

Total	$	58,393	$	52,987

Accrued expenses as of December 31, 2020 and 2019, consist of the following (in thousands):


	2020		2019

Compensation	$	37,696	$	35,316
Professional services		2,753		2,288
Royalties and licenses		2,301		3,128
Sales tax		2,294		2,057
Employee insurance benefits		1,979		1,681
Other		5,964		8,662


Total	$	52,987	$	53,132

Other Liabilities (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Other Liabilities Disclosure [Line Items]

Summary Of Other Liabilities

Other liabilities as of June 30, 2021 and December 31, 2020, consist of the following (in thousands):


	June 30, 2021		December 31, 2020
Phantom stock incentive plan	$	4,338	$	3,217
Payroll tax deferment		3,152		3,152
Software license agreement		2,168		234
Deferred revenue-non-current		1,932		2,001
Deferred rent		—		4,461
Fair value of interest rate swaps		—		18,359
Other		121		1,346

Total	$	11,711	$	32,770

Other liabilities as of December 31, 2020 and 2019, consist of the following (in thousands):


	2020		2019

Fair value of interest rate swaps	$	18,359	$	5,110
Deferred rent		4,461		1,989
Software license agreement		234		1,284
Deferred revenue-non-current		2,001		1,160
Phantom stock incentive plan		3,217		921
Payroll tax deferment		3,152		—
Other		1,346		1,190


Total	$	32,770	$	11,654

Net Income (Loss) Per Share (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

Schedule of Earnings Per Share, Basic and Diluted

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):


	Three Months Ended June, 30			Six Months Ended June 30,
	2021			2021
Redeemable Class A Ordinary Shares
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares Interest Income earned on marketable securities held in Trust Account	$	15,703		$	21,942
Net Earnings	$	15,703		$	21,942

Denominator: Weighted Average Redeemable Class A Ordinary Shares Redeemable Class A Ordinary Shares, Basic and Diluted		69,000,000			69,000,000

Earnings/Basic and Diluted Redeemable Class A Ordinary Shares	$	0.00		$	0.00

Non-Redeemable Class B Ordinary Shares
Numerator: Net Income (Loss) minus Redeemable Net Earnings
Net Income (Loss)	$	(17,630,095	)	$	142,994,465
Redeemable Net Earnings		(15,703	)		(21,942	)

Non-Redeemable Net Income (Loss)	$	(17,645,798	)	$	142,972,523

Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares
Non-Redeemable Class B Ordinary Shares, Basic and Diluted		17,250,000			17,250,000

Earnings (loss)/Basic and Diluted Non-Redeemable Class B Ordinary Shares	$	(1.02	)	$	8.29

Note: As of June 30, 2021, basic and diluted shares are the same as there are no

non-redeemable

securities that are dilutive to the shareholders.

The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts):


	For the Period from July 3, 2020 (inception) Through December 31, 2020
Redeemable Class A Ordinary Shares
Numerator: Earnings allocable to Redeemable Class A Ordinary Shares
Interest Income	$	—

Net Earnings	$	—

Denominator: Weighted Average Redeemable Class A Ordinary Shares
Redeemable Class A Ordinary Shares, Basic and Diluted		69,000,000
Earnings/Basic and Diluted Redeemable Class A Ordinary Shares	$	0.00

Non-Redeemable Class B Ordinary Shares
Numerator: Net Loss minus Redeemable Net Earnings
Net Loss	$	(185,775,870	)
Redeemable Net Earnings	$	—

Non-Redeemable Net Loss	$	(185,775,870	)

Denominator: Weighted Average Non-Redeemable Class B Ordinary Shares
Non-Redeemable Class B Ordinary Shares, Basic and Diluted		16,748,571
Loss/Basic and Diluted Non-Redeemable Class B Ordinary Shares	$	(11.09	)

Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth a reconciliation of the numerator and denominator used to compute basic earnings per share of common stock (in thousands, except for share and per share data).


	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2021		2020			2021			2020
Numerator
Net income (loss)	$	3,816	$	(1,961	)	$	(1,268	)	$	(27,213	)

Denominator
Weighted average shares of common stock - basic		1,484,156		1,480,262			1,483,634			1,479,918
Dilutive effect of stock options		53,611		—			—			—

Weighted average shares of common stock - diluted		1,537,767		1,480,262			1,483,634			1,479,918

Net income (loss) per share:
Basic	$	2.57	$	(1.32	)	$	(0.85	)	$	(18.39	)
Diluted	$	2.48	$	(1.32	)	$	(0.85	)	$	(18.39	)

The following table sets forth a reconciliation of the numerator and denominator used to compute basic earnings per share of common stock (in thousands, except for share and per share data).


	Year ended December 31,
	2020			2019			2018
Numerator
Net loss	$	(16,876	)	$	(210,340	)	$	(55,031	)

Denominator
Weighted average shares of common stock - basic and diluted		1,480,296			1,478,350			1,478,373
Net loss per share - basic and diluted	$	(11.40	)	$	(142.28	)	$	(37.22	)

Segment Information And Information About Geographic Areas (Tables) - Cypress Holdings Inc And Subsidiaries [Member]

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Revenues from External Customers and Long-Lived Assets [Line Items]

Schedule of revenues by geographic area

Revenues by geographic area presented based upon the location of the customer are as follows (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
United States	$	165,502	$	148,845	$	321,487	$	306,423
China		1,287		1,871		3,091		3,501

Total revenues	$	166,789	$	150,716	$	324,578	$	309,924

Revenues by geographic area presented based upon the location of the customer are as follows (in thousands):


	Year ended December 31,
	2020		2019		2018
United States	$	626,101	$	610,591	$	564,884
China		6,962		5,493		4,888

Total revenues	$	633,063	$	616,084	$	569,772

Schedule of software, equipment and property, net by geographic area

Software, equipment and property, net by geographic area are as follows (in thousands):


	June 30, 2021		December 31, 2020
United States	$	108,581	$	101,370
China		59		68

Total software, equipment and property-net	$	108,640	$	101,438

Software, equipment and property, net by geographic area are as follows (in thousands):


	December 31
	2020		2019
United States	$	101,370	$	89,450
China		68		54

Total software, equipment and property-net	$	101,438	$	89,504

Long-Term Debt (Tables) - Cypress Holdings Inc And Subsidiaries [Member]

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Debt Instrument [Line Items]

Summary Of Long Term Debt

Long-term debt as of June 30, 2021 and December 31, 2020, consists of the following (in thousands):


	June 30, 2021			December 31, 2020
First Lien Term Loan	$	1,329,231		$	1,336,154
First Lien Term Loan—discount		(2,396	)		(2,788	)
First Lien Term Loan—deferred financing fees		(13,215	)		(15,388	)

First Lien Term Loan—net of discount & fees		1,313,620			1,317,978

Less: Current portion		(13,846	)		(25,381	)

Total long-term debt—net of current portion	$	1,299,774		$	1,292,597

Long-term debt as of December 31, 2020 and 2019, consists of the following (in thousands):


	2020			2019

First Lien Term Loan	$	1,336,154		$	975,000
First Lien Term Loan—discount		(2,788	)		(1,614	)
First Lien Term Loan—deferred financing fees		(15,388	)		(16,211	)


First Lien Term Loan—net of discount & fees		1,317,978			957,175


Second Lien Term Loan		—			375,000
Second Lien Term Loan—discount		—			(2,080	)
Second Lien Term Loan—deferred financing fees		—			(6,583	)


Second Lien Term Loan—net of discount & fees		—			366,337


Total debt		1,317,978			1,323,512

Less: Current portion		(25,381	)		(10,000	)


Total long-term debt—net of current portion	$	1,292,597		$	1,313,512

Summary Of Debt Deferred Financing Fees And Discount

The table below is a rollforward of the Company’s deferred financing fees and discount (contra debt) (in thousands):


	Deferred Financing Fees			Discount— Contra Debt



Balance—December 31, 2018		28,797			4,327

Amortization of fees and discount		(4,837	)		(633	)


Balance—December 31, 2019	$	23,960		$	3,694

Fees written off of due to early extinguishment of debt		(6,558	)		(2,043	)

Payment of fees and discount		3,362			1,875

Amortization of fees and discount		(4,630	)		(738	)


Balance—December 31, 2020	$	16,134		$	2,788

Summary Of Aggregate Maturities Of Our Long-Term Debt

Scheduled Payments for Debt

—Principal amounts due in each of the next four years as of December 31, 2020, are as follows (in thousands):


Years Ending December 31
Years Ending December 31

2021	$	25,381
2022		2,312
2023		13,846
2024		1,294,615


Total	$	1,336,154

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

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Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Incentive Plans (Tables) - Cypress Holdings Inc And Subsidiaries [Member]

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Summary of Share-based Payment Arrangement, Expensed and Capitalized, Amount


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Cost of revenues	$	176	$	160	$	394	$	239
Research and development		700		416		1,275		621
Sales and marketing		735		696		1,289		1,075
General and administrative		1,272		999		12,579		3,526

Total stock-based compensation expense	$	2,883	$	2,271	$	15,537	$	5,461


	Year ended December 31,
	2020		2019		2018
Cost of Revenues	$	494	$	485	$	454
Research and development		1,174		1,216		1,095
Sales and marketing		2,024		1,858		2,207
General and administrative		7,644		3,565		3,443

Total share-based compensation expense	$	11,336	$	7,124	$	7,199

Summary of Share-based Compensation Arrangements by Share-based Payment Award

Option activity for the six months ended June 30, 2021, is summarized below:


	Shares			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Options outstanding—December 31, 2020		163,177			1,033		6.9		337,358

Granted		8,288			3,100
Exercised		(479	)		971
Forfeited and canceled		(750	)		1,542

Options outstanding—June 30, 2021		170,236			1,131		6.6		402,520

Options exercisable—June 30, 2021		57,485			1,036		6.3		141,418

Options vested and expected to vest—June 30, 2021		153,913			1,123		6.6		365,110

Option activity for the years ended December 31, 2020, 2019 and 2018, is summarized below:


	Shares			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)

Options outstanding—January 1, 2018		145,350		$	1,000		9.5		—

Granted		9,838			1,032
Exercised		(114	)		966
Forfeited and canceled		(5,956	)		974


Options outstanding—December 31, 2018		149,118			969		8.6		30,652

Granted		12,720			1,216
Exercised		(926	)		966
Forfeited and canceled		(6,102	)		966


	Shares			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)

Options outstanding—December 31, 2019		154,810			990		7.7		88,271

Granted		12,363			1,560
Exercised		(1,398	)		971
Forfeited and canceled		(2,598	)		1,028


Options outstanding—December 31, 2020		163,177			1,033		6.9		337,358


Options exercisable—December 31, 2020		41,230			976		6.6		87,582


Options vested and expected to vest—December 31, 2020		145,907			1,023		6.9		303,007

Time Based Vesting Conditions [Member] | Share-based Payment Arrangement, Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The valuation of time-based stock options granted during the six months ended June 30, 2021 was determined using the Black-Scholes option valuation model using the following assumptions:


Expected term (in years)		6.5
Expected volatility		40	%
Expected dividend yield		0	%
Risk-free interest rate		0.62 - 0.67	%
Fair value at valuation date	$	1,250

The valuation of time-based stock options was determined using the

Black-Scholes

option valuation model using the following assumptions:


	Year ended December 31,
	2020			2019			2018
Expected term (in years)		6.5			6.5			6.5
Expected volatility		40	%		40	%		40	%
Expected dividend yield		0	%		0	%		0	%
Risk-free interest rate		0.39 - 0.45%			1.62 - 2.38%			2.64 - 2.99%
Fair value at Valuation Date	$	622		$	525		$	474

Performance And Market Based Vesting Conditions [Member] | Share-based Payment Arrangement, Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The valuation of the performance-based awards with a market condition granted during the six months ending June 30, 2021 was determined through the Monte Carlo simulation model using the following assumptions:


Expected term (in years)		5.5
Expected volatility		33	%
Expected dividend yield		0	%
Risk-free interest rate		0.44	%
Fair value at valuation date	$	298

The valuation of the performance-based and market-based options was determined through the Monte Carlo simulation model using the following assumptions:


	Year ended December 31,
	2020			2019			2018
Expected term (in years)		5.5			6.5			6.5
Expected volatility		33	%		40	%		45	%
Expected dividend yield		0	%		0	%		0	%
Risk-free interest rate		0.44	%		2.38	%		2.93	%
Fair value at Valuation Date	$	298		$	228		$	200

Long-Term Licensing Agreement (Tables)

12 Months Ended

Dec. 31, 2020

LongTerm Licensing Agreement [Line Items]

Summary Of Principal Amounts Due In Each Of The Next Five Years

Scheduled Payments

—Principal amounts due in each of the next five years and thereafter for the Licensing Agreement as of December 31, 2020, are as follows (in thousands):


Years Ending December 31

2021		2,540
2022		2,703
2023		2,876
2024		3,061
2025		3,257
Thereafter		24,434


Total	$	38,871

Fair Value Measurements (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Summary of Company's liabilities measured at fair value on a recurring basis


	Level		June 30, 2021		December 31, 2020
Assets – Assets Held in Trust Account		1	$	690,021,942	$	—
Liabilities:
Warrant Liability – Public Warrants		1	$	27,738,000	$	59,064,000
Warrant Liability – Private Placement Warrants		3	$	34,486,796	$	90,856,186
Warrant Liability – Conversion option on working capital loan		3	$	2,365,417	$	—
FPA Liability		2	$	6,830,624	$	69,874,782


	Level		December 31, 2020
Liabilities:
Warrant Liability – Public Warrants		1	$	59,064,000
Warrant Liability – Private Placement Warrants		3	$	90,856,186
FPA Liability		3	$	69,874,782

Summary of changes in the fair value of warrant liabilities

The following table presents the changes in the fair value of Level 3 warrant liabilities:


	Private Placement
Fair value as of January 1, 2021	$	90,856,186
Change in fair value		(56,369,390	)

Fair value as of June 30, 2021	$	34,486,796

The following table presents the changes in the fair value of warrant liabilities:


	Private Placement		Public		Warrant Liabilities
Fair value as of July 3, 2020 (inception)	$	—	$	—	$	—
Initial measurement on August 18, 2020		22,792,602		20,412,606		43,205,208
Change in valuation inputs or other assumptions		68,063,584		38,651,394		106,714,978

Fair value as of December 31, 2020	$	90,856,186	$	59,064,000	$	149,920,186

Summary Of Changes In The Fair Value Of FPA Conversion Option Liabilities

The following table presents the changes in the fair value of the conversion option liability:


	Conversion Option Liability
Fair value as of January 1, 2021	$	—
Initial classification of conversion option liability		8,480,557
Change in fair value		(6,115,140	)

Fair value as of June 30, 2021	$	2,365,417

Summary of the changes in the fair value of the FPA liability

The following table presents a summary of the changes in the fair value of the FPA liability, a Level 2 liability, measured on a recurring basis:


	FPA Liability
Fair value as of January 1, 2021	$	69,874,782
Change in fair value		(63,044,158	)

Fair value as of June 30, 2021	$	6,830,624

The following table presents a summary of the changes in the fair value of the FPA liability, a Level 3 liability, measured on a recurring basis.


	FPA Liability
Fair value, July 3, 2020	$	—
Loss on change in fair value (1)		69,874,782

Fair value, December 31, 2020	$	69,874,782

(1)	Represents the non-cash loss on change in valuation of the FPA liability and is included in loss on change in fair value of FPA liability on the statement of operations.

Summary of assets and liabilities measured at fair value on a recurring basis

The following table presents the fair value of the assets and liabilities measured at fair value on a recurring basis at June 30, 2021 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Liabilities
Interest rate swaps	$	11,993	$	—	$	11,993	$	—

Total	$	11,993	$	—	$	11,993	$	—

The following table presents the fair value of the assets and liabilities measured at fair value on a recurring basis at December 31, 2020 (in thousands):


	Fair Value		Level 1		Level 2		Level 3
Liabilities
Interest rate swaps	$	18,359	$	—	$	18,359	$	—

Total	$	18,359	$	—	$	18,359	$	—

The following table presents the fair value of the assets and liabilities measured at fair value on a recurring basis at December 31, 2020 (in thousands):


Liabilities	Fair Value		Level 1		Level 2		Level 3
Interest rate swaps	$	18,359	$	—	$	18,359	$	—

Total	$	18,359	$	—	$	18,359	$	—

The following table presents the fair value of the assets and liabilities measured at fair value on a recurring basis at December 31, 2019 (in thousands):


Liabilities	Fair Value		Level 1		Level 2		Level 3
Interest rate swaps	$	5,110	$	—	$	5,110	$	—

Total	$	5,110	$	—	$	5,110	$	—

Summary of carrying amounts and estimated fair values of the financial instruments

The following table presents the carrying amounts, net of debt discount, and estimated fair values of the Company’s financial instruments that are not recorded at fair value on the condensed consolidated balance sheets (in thousands):


	June 30, 2021				December 31, 2020
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
First Lien Term Loan, including current portion	$	1,326,835	$	1,328,228	$	1,333,366	$	1,332,433


	December 31, 2020				December 31, 2019
Description	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
First Lien Term Loan, including current portion	$	1,333,366	$	1,332,433	$	973,386	$	979,470
Second Lien Term Loan		—		—		372,920		375,344

Description of Organization and Business Operations - Additional Information (Detail) - USD ($)				6 Months Ended
	Aug. 18, 2020	Jul. 10, 2020	Jul. 10, 2020	Jun. 30, 2021	Dec. 31, 2020
Proceeds from sales of issuance initial public offering units	$ 690,000,000
Underwriters of their overallotment option	$ 9,000,000
Initial public offering per units	$ 10.00			$ 10.00	$ 10.00
Proceeds from issuance initial public offering	$ 690,000,000
Proceeds from sales of Private Placement warrants				$ 15,800,000	$ 15,800,000
Proceeds from Issuance of private placement				15,800,000	15,800,000
Business acquisition transaction costs				38,924,273	38,924,273
Payment of stock issuance costs				13,800,000	13,800,000
Other offering costs				$ 974,273	$ 974,273
Maturity of investments days	185 days
Business acquisition percentage of voting interests acquired				50.00%	50.00%
Deferred underwriting fee				$ 24,150,000	$ 24,150,000
Business combinations and acquisitions tangible assets				$ 5,000,001	$ 5,000,001
Percentage of initial public offering shares				15.00%	15.00%
Percentage of initial public offering shares redemption				100.00%	100.00%
Payment of dissolution expenses				$ 100,000	$ 100,000
Cash				1,441,976
Working capital (Deficit)				5,393,518
Stock shares issued during the period for services value					25,000
Due to related party				2,330	17,703
Working Capital Loans [Member]
Long-term Debt, Gross				$ 2,000,000	$ 0
Founder Shares [Member]
Payment of stock issuance costs		$ 25,000
Stock shares issued during the period for services value			$ 25,000
Over-Allotment Option [Member]
Sale of stock, price per share				$ 10.00	$ 10.00
Private Placement [Member]
Sale of stock, price per share				$ 1.00	$ 1.00
IPO [Member] \| Sponsor [Member]
Due to related party				$ 1,404,979	$ 1,400,894
Common Class A [Member]
Proceeds from sales of issuance initial public offering units	$ 69,000,000

Restatement of Previously Issued Financial Statements - Summary of Restatement of Financial Statements (Detail) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Aug. 18, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Liabilities	$ 102,659,391		$ 141,763,962	$ 102,659,391	$ 244,863,061	$ 68,570,964
Class A Ordinary Shares Subject to Redemption	690,000,000		545,368,979	690,000,000	441,063,112	618,455,829
Additional Paid in Capital	0		86,466,842	0	190,771,666	13,380,723
Accumulated Deficit	(100,944,138)		(81,470,011)	(100,944,138)	(185,775,870)	(8,383,156)
Net income	(17,630,095)	$ 160,624,560	(81,470,011)	142,994,465	(185,775,870)
Common Class A [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Class A Ordinary Shares	$ 0		$ 1,446	$ 0	$ 2,489	$ 715
Number of Class A ordinary shares subject to redemption	69,000,000	69,000,000	54,536,898	69,000,000	44,106,311	61,845,583
Net income	$ 15,703			$ 21,942	$ 0
Weighted average shares outstanding	69,000,000		69,000,000	69,000,000	69,000,000
Basic and Diluted EPS	$ 0.00		$ 0.00	$ 0.00	$ 0.00
Common Class B [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Class A Ordinary Shares	$ 1,725			$ 1,725	$ 1,725
Net income	$ (17,630,095)			$ 142,994,465	$ (185,775,870)
Weighted average shares outstanding	17,250,000		17,250,000	17,250,000	16,748,571
Basic and Diluted EPS	$ (1.02)		$ (4.72)	$ 8.29	$ (11.09)
Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Liabilities			$ 25,274,901		$ 25,068,093	$ 25,131,073
Class A Ordinary Shares Subject to Redemption			661,858,040		660,858,080	661,895,720
Additional Paid in Capital			5,040,681		6,040,631	5,003,001
Accumulated Deficit			(42,685)		(1,042,637)	(5,000)
Net income			(42,685)		(1,042,637)
Previously Reported [Member] \| Common Class A [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Class A Ordinary Shares			$ 281		$ 291	$ 281
Number of Class A ordinary shares subject to redemption			66,185,804		66,085,808	66,189,572
Weighted average shares outstanding			69,000,000		69,000,000
Basic and Diluted EPS			$ 0.00		$ 0.00
Previously Reported [Member] \| Common Class B [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Weighted average shares outstanding			17,250,000		17,250,000
Basic and Diluted EPS			$ 0.00		$ (0.06)
Revision of Prior Period, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Liabilities			$ 116,489,061		$ 219,794,968	$ 43,439,891
Class A Ordinary Shares Subject to Redemption			(116,489,061)		(219,794,968)	(43,439,891)
Additional Paid in Capital			81,426,161		184,731,035	8,377,722
Accumulated Deficit			(81,427,326)		(184,733,233)	(8,378,156)
Net income			(81,427,326)		(184,733,233)
Revision of Prior Period, Adjustment [Member] \| Common Class A [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Class A Ordinary Shares			$ 1,165		$ 2,198	$ 434
Number of Class A ordinary shares subject to redemption			(11,648,906)		(21,979,497)	(4,343,989)
Weighted average shares outstanding			0		0
Basic and Diluted EPS			$ 0.00		$ 0.00
Revision of Prior Period, Adjustment [Member] \| Common Class B [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Weighted average shares outstanding			0		0
Basic and Diluted EPS			$ (4.72)		$ (11.03)

Restatement Of Previously Issued Financial Statements - Additional Information (Detail)	6 Months Ended
	Dec. 31, 2020
Restatement Of Previously Issued Financial Statements [Abstract]
Outstanding shares percentage	50.00%

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended			12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2021	Sep. 30, 2020	Aug. 18, 2020	Mar. 31, 2020	Jan. 01, 2019
Accounting Policies [Line Items]
Offering costs			$ 37,773,402	$ 37,773,402
Unrecognized tax benefits	$ 0		0	0		$ 0
Accrued for interest and penalties	$ 0		$ 0	$ 0		$ 0
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	29,600,000		29,600,000	29,600,000		29,600,000
Cash, FDIC Insured Amount	$ 250,000		$ 250,000	$ 250,000		$ 250,000
Retained Earnings (Accumulated Deficit)	(100,944,138)		(100,944,138)	(185,775,870)		(185,775,870)				$ (81,470,011)	$ (8,383,156)
Cypress Holdings Inc And Subsidiaries [Member]
Accounting Policies [Line Items]
Unrecognized tax benefits				3,045,000		3,045,000	$ 2,306,000	$ 1,508,000
Revenue remaining performance obligation amount	855,000,000		855,000,000	855,000,000		855,000,000
Revenue remaining performance obligation revenue to be recognized year 2021	398,000,000		398,000,000	405,000,000		405,000,000
Revenue remaining performance obligation revenue to be recognized thereafter	457,000,000		457,000,000	450,000,000		450,000,000
Deferred revenue, revenue recognized	26,400,000	$ 24,400,000	25,600,000		$ 24,800,000	25,100,000	22,800,000
Advertising Expense	400,000	500,000	500,000		800,000	1,600,000	1,300,000	1,200,000
Goodwill impairment charge	0	0	0		0	0	25,797,000	0
Impairment of intangible assets, finite lived			0		0	0	181,300,000	0
Retained Earnings (Accumulated Deficit)	(265,189,000)		(265,189,000)	(129,370,000)		(129,370,000)	(112,494,000)
Deferred contract costs	$ 28,667,000	$ 24,084,000	$ 28,667,000	$ 26,361,000	$ 24,084,000	$ 26,361,000	$ 23,270,000	$ 0	$ 26,554,000			$ 23,608,000
Equity Method Investment, Ownership Percentage	7.00%		7.00%
Operating lease liabilities	$ 50,884,000		$ 50,884,000
Operating right-of-use assets	$ 9,546,000		$ 9,546,000
Cypress Holdings Inc And Subsidiaries [Member] \| Limited Partnership [Member]
Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage	7.00%		7.00%
Cypress Holdings Inc And Subsidiaries [Member] \| Maximum [Member]
Accounting Policies [Line Items]
Capitalized contract cost, amortization period				5 years		5 years
Cypress Holdings Inc And Subsidiaries [Member] \| Minimum [Member]
Accounting Policies [Line Items]
Capitalized contract cost, amortization period				3 years		3 years
Cypress Holdings Inc And Subsidiaries [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Accounting Policies [Line Items]
Deferred tax liabilities deferred expense													$ 4,000,000.0
Cypress Holdings Inc And Subsidiaries [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Employee Sales Commissions [Member]
Accounting Policies [Line Items]
Deferred contract costs													15,000,000.0
Cypress Holdings Inc And Subsidiaries [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Customer Implementations Costs [Member]
Accounting Policies [Line Items]
Deferred contract costs													900,000
Cypress Holdings Inc And Subsidiaries [Member] \| Accounting Standards Update 2014-09 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Accounting Policies [Line Items]
Retained Earnings (Accumulated Deficit)													$ 11,900,000
Cypress Holdings Inc And Subsidiaries [Member] \| Accounting Standards Update 2018-11 [Member]
Accounting Policies [Line Items]
Operating lease liabilities	$ 53,000,000.0		$ 53,000,000.0
Operating right-of-use assets	$ 47,100,000		47,100,000
Cypress Holdings Inc And Subsidiaries [Member] \| Customer Concentration Risk [Member] \| Revenue Benchmark [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage						10.00%
Cypress Holdings Inc And Subsidiaries [Member] \| Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage						10.00%
Other Expense [Member]
Accounting Policies [Line Items]
Offering costs allocated to warrant liabilities			$ 1,150,871	$ 1,150,871

Summary of Significant Accounting Policies - Summary Of Earnings Per Share Basic and Diluted (Detail) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020
Numerator: Earnings allocable to Ordinary Shares
Net earnings	$ (17,630,095)	$ 160,624,560	$ (81,470,011)	$ 142,994,465	$ (185,775,870)
Common Class A [Member]
Numerator: Earnings allocable to Ordinary Shares
Interest income earned on marketable securities held in Trust Account	15,703			21,942	0
Net earnings	$ 15,703			$ 21,942	$ 0
Denominator: Weighted Average Redeemable Ordinary Shares
Ordinary Shares, Basic and Diluted	69,000,000		69,000,000	69,000,000	69,000,000
Earnings/Basic and Diluted Ordinary Shares	$ 0.00		$ 0.00	$ 0.00	$ 0.00
Common Class B [Member]
Numerator: Earnings allocable to Ordinary Shares
Net earnings	$ (17,630,095)			$ 142,994,465	$ (185,775,870)
Redeemable Net Earnings	(15,703)			(21,942)	0
Non-Redeemable Net Income (Loss)	$ (17,645,798)			$ 142,972,523	$ (185,775,870)
Denominator: Weighted Average Redeemable Ordinary Shares
Ordinary Shares, Basic and Diluted	17,250,000		17,250,000	17,250,000	16,748,571
Earnings/Basic and Diluted Ordinary Shares	$ (1.02)		$ (4.72)	$ 8.29	$ (11.09)

Summary of Significant Accounting Policies - Summary of The Company's Total Revenue or Accounts Receivable (Detail) - Cypress Holdings Inc And Subsidiaries [Member]	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Customer A [Member] \| Revenue Benchmark [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage					12.00%	13.00%
Customer A [Member] \| Accounts Receivable [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage		10.00%		12.00%
Customer B [Member] \| Revenue Benchmark [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage	10.00%		11.00%	11.00%	11.00%	11.00%
Customer B [Member] \| Accounts Receivable [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage		13.00%			14.00%

Summary of Significant Accounting Policies - Summarizes Revenue By Type of Service (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 166,789	$ 150,716	$ 324,578	$ 309,924	$ 633,063	$ 616,084	$ 569,772
Software Subscriptions [Member]
Accounting Policies [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	159,841	138,565	311,865	279,039	573,608	540,219	492,553
Other Services [Member]
Accounting Policies [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 6,948	$ 12,151	$ 12,713	$ 30,885	$ 59,455	$ 75,865	$ 77,219

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

Summary of Significant Accounting Policies - Summary of Property Plant Equipment Estimated Useful Life (Detail) - Cypress Holdings Inc And Subsidiaries [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Computer Equipment [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years	3 years
Furniture and Fixtures [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years	5 years
Database Rights [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	25 years	25 years
Building [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	39 years	39 years
Land [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	Indefinite	Indefinite
Maximum [Member] \| Software and Software Development Costs [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years	5 years
Maximum [Member] \| Leasehold Improvements [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	15 years	15 years
Minimum [Member] \| Software and Software Development Costs [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	2 years	2 years
Minimum [Member] \| Leasehold Improvements [Member]
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years	3 years

Summary of Significant Accounting Policies - Summary of The Consolidated Balance Sheet (Detail) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Aug. 18, 2020	Dec. 31, 2019
Liabilities and stockholders' equity
Accumulated deficit	$ (100,944,138)	$ (185,775,870)	$ (81,470,011)	$ (8,383,156)
Previously Reported [Member]
Liabilities and stockholders' equity
Accumulated deficit		(1,042,637)	$ (42,685)	$ (5,000)
Cypress Holdings Inc And Subsidiaries [Member]
Assets
Deferred contract costs	12,681,000	11,917,000			$ 10,807,000
Long-term deferred contract costs					12,463,000
Liabilities and stockholders' equity
Deferred income taxes-net	311,280,000	322,348,000			333,472,000
Accumulated deficit	$ (265,189,000)	$ (129,370,000)			(112,494,000)
Cypress Holdings Inc And Subsidiaries [Member] \| Previously Reported [Member]
Liabilities and stockholders' equity
Deferred income taxes-net					327,572,000
Accumulated deficit					(129,864,000)
Cypress Holdings Inc And Subsidiaries [Member] \| Revision of Prior Period, Error Correction, Adjustment [Member]
Assets
Deferred contract costs					10,807,000
Long-term deferred contract costs					12,463,000
Liabilities and stockholders' equity
Deferred income taxes-net					5,900,000
Accumulated deficit					$ 17,370,000

The cumulative amount of the reporting entity's undistributed earnings or deficit.

Summary of Significant Accounting Policies - Summary of The Consolidated Statement of Operations and Comprehensive Loss (Detail) - USD ($)	3 Months Ended				6 Months Ended			12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification [Line Items]
Operating loss	$ (998,689)				$ (5,401,608)	$ (1,042,637)
Net loss	(17,630,095)	$ 160,624,560	$ (81,470,011)		142,994,465	(185,775,870)
Previously Reported [Member]
Reclassification [Line Items]
Net loss			$ (42,685)			$ (1,042,637)
Cypress Holdings Inc And Subsidiaries [Member]
Reclassification [Line Items]
Revenues	166,789,000			$ 150,716,000	324,578,000		$ 309,924,000	$ 633,063,000	$ 616,084,000	$ 569,772,000
Cost of revenues	45,512,000			49,982,000	90,105,000		104,944,000	208,717,000	225,649,000	212,797,000
Selling and marketing	21,551,000			17,702,000	40,968,000		39,181,000	74,710,000	82,109,000	73,830,000
Operating loss	22,001,000			15,616,000	29,240,000		29,763,000	76,980,000	(166,202,000)	24,913,000
Income tax benefit	(2,375,000)			331,000	704,000		9,711,000	4,679,000	67,293,000	3,023,000
Net loss	$ 3,816,000			$ (1,961,000)	$ (1,268,000)		$ (27,213,000)	$ (16,876,000)	$ (210,340,000)	$ (55,031,000)
Net loss per share attributable to Class A and Class B common stockholders - basic and diluted								$ (11.40)	$ (142.28)	$ (37.22)
Cypress Holdings Inc And Subsidiaries [Member] \| As Reported [Member]
Reclassification [Line Items]
Cost of revenues									$ 191,868,000
Cypress Holdings Inc And Subsidiaries [Member] \| Previously Reported [Member]
Reclassification [Line Items]
Revenues									616,084,000
Cost of revenues									192,286,000
Selling and marketing									88,912,000
Operating loss									(173,423,000)
Income tax benefit									69,040,000
Net loss									$ (215,814,000)
Net loss per share attributable to Class A and Class B common stockholders - basic and diluted									$ (145.98)
Cypress Holdings Inc And Subsidiaries [Member] \| Revision of Prior Period, Error Correction, Adjustment [Member]
Reclassification [Line Items]
Cost of revenues									$ (418,000)
Selling and marketing									(6,803,000)
Operating loss									7,221,000
Income tax benefit									(1,747,000)
Net loss									$ 5,474,000
Net loss per share attributable to Class A and Class B common stockholders - basic and diluted									$ 3.70

Initial Public Offering - Additional Information (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
IPO [Member]
Sale of Stock, Number of Shares Issued in Transaction	69,000,000	69,000,000
Over-Allotment Option [Member]
Sale of Stock, Number of Shares Issued in Transaction	9,000,000	9,000,000
Sale of Stock, Price Per Share	$ 10.00	$ 10.00
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.50	$ 11.50

Revenue - Summary of receivables contract assets and contract liabilities from contracts with customers (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Jan. 01, 2019
Contract With Customer Asset And Liability [Line Items]
Accounts receivables-Net of allowances	$ 81,817	$ 74,107		$ 63,613	$ 59,252
Deferred contract costs	12,681	11,917	$ 10,679	10,807	6,526
Long-term deferred contract costs	15,986	14,389	$ 13,405	12,463	9,432
Deferred revenues	28,824	26,514		25,096	22,787
Other liabilities (deferred revenues, non-current)	$ 1,932	$ 2,001		$ 1,160	$ 0

Revenue - Summary of deferred revenue (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Contract With Customer Liability [Line Items]
Balance at beginning of period	$ 30,109	$ 27,874	$ 28,515	$ 26,256	$ 26,256	$ 22,787
Revenue recognized1	(82,159)	(71,159)	(163,121)	(148,065)	(305,812)	(283,383)
Additional amounts deferred1	82,806	71,963	165,362	150,487	308,071	286,852
Balance at end of period	$ 30,756	$ 28,678	$ 30,756	$ 28,678	$ 28,515	$ 26,256

Revenue - Summary of deferred contract costs (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Capitalized Contract Cost [Line Items]
Balance at beginning of period	$ 26,554	$ 23,608	$ 26,361	$ 23,270	$ 23,270	$ 0
Adoption of ASC 606					0	15,958
Costs amortized	(3,612)	(2,957)	(7,317)	(6,053)	(12,446)	(9,375)
Additional amounts deferred	5,725	3,433	9,623	6,867	15,482	16,687
Balance at end of period	28,667	24,084	28,667	24,084	26,361	23,270
Classified as:
Current	12,681	10,679	12,681	10,679	11,917	10,807	$ 6,526
Non-current	15,986	13,405	15,986	13,405	14,389	12,463	$ 9,432
Total deferred contract costs	$ 28,667	$ 24,084	28,667	$ 24,084	26,361	$ 23,270
Previously Reported [Member]
Capitalized Contract Cost [Line Items]
Balance at beginning of period			$ 26,306
Balance at end of period					26,306
Classified as:
Total deferred contract costs					$ 26,306

Private Placement - Additional Information (Detail) - Private Placement Warrants [Member] - USD ($)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Number of warrants issued	15,800,000	15,800,000
Warrants issue price	$ 1.00	$ 11.50
Proceeds from Issuance of Warrants	$ 15,800,000	$ 15,800,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.50	$ 1.00

Related Party Transactions - Additional Information (Detail) - USD ($)				1 Months Ended		3 Months Ended				6 Months Ended			12 Months Ended
	Jan. 31, 2021	Jul. 10, 2020	Jul. 10, 2020	Mar. 31, 2021	Feb. 28, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 19, 2021	Jul. 23, 2020
Payments of Stock Issuance Costs										$ 13,800,000	$ 13,800,000
Due to related party						$ 2,330				2,330	17,703		$ 17,703
Repayments of Related Party Debt										19,458	1,383,191		1,383,191
Line of credit facility, maximum borrowing capacity																$ 2,000,000
Convertible Debt						2,000,000				2,000,000
Amortization of Debt Discount (Premium)						1,000,000				$ 2,000,000
Stock issued during period, value, issued for services											$ 25,000
IPO [Member]
Sale of Stock, Number of Shares Issued in Transaction										69,000,000	69,000,000
IPO [Member] \| Sponsor [Member]
Due to related party						1,404,979				$ 1,404,979	$ 1,400,894		1,400,894
Founder Shares [Member]
Payments of Stock Issuance Costs		$ 25,000
Number of shares transferred																	75,000
Stock issued during period subject to forfeiture																	2,250,000
Percent of stock convertible																	20.00%
Stock issued during period not subject to forfeiture																	2,250,000
Stock price threshold limit																	$ 12.00
Stock issued during period, value, issued for services			$ 25,000
Promissory Note [Member]
Line of credit facility, maximum borrowing capacity		$ 300,000	$ 300,000
Working Capital Loans [Member]
Convertible Debt						2,000,000				2,000,000	$ 2,000,000		$ 2,000,000
Warrant issue price											$ 1.00		$ 1.00
Long-term Debt, Gross						2,000,000				2,000,000	$ 0		$ 0
Amortization of Debt Discount (Premium)						1,000,000				2,000,000
Common Class B [Member]
Stock issued during period, shares, issued for services											17,250,000
Stock issued during period, value, issued for services											$ 1,725
Common Class B [Member] \| Founder Shares [Member]
Sale of Stock, Number of Shares Issued in Transaction		17,250,000
Cypress Holdings Inc And Subsidiaries [Member]
Amortization of Debt Discount (Premium)										392,000		$ 327,000	738,000	$ 633,000	$ 597,000
Payment of dividend classified as financing activities				$ 134,500,000											50,000,000.0
Associated payables						200,000				200,000
Revenue from related parties						$ 100,000				100,000
Purchase of equity method investment										$ 10,189,000		0
Equity Method Investment, Ownership Percentage						7.00%				7.00%
Stock issued during period, value, issued for services							$ 1,007,000		$ 1,560,000
Cypress Holdings Inc And Subsidiaries [Member] \| Employee Health Insurance Benefits Expenses [Member]
Related party transaction, amounts of transaction						$ 800,000				$ 1,600,000
Cypress Holdings Inc And Subsidiaries [Member] \| Fees and Expenses [Member]
Revenue from related parties										200,000
Cypress Holdings Inc And Subsidiaries [Member] \| Private Equity Sponsor [Member] \| Related Travel And Out Of Pocket Expenses [Member]
Related party transaction out of pocket expenses						50,000		$ 47,000		100,000		100,000	200,000	100,000	300,000
Cypress Holdings Inc And Subsidiaries [Member] \| Private Equity Sponsor One [Member] \| Human Resource Support Services [Member]
Related party transaction out of pocket expenses						$ 100,000		$ 50,000.00		$ 100,000		$ 50,000.00	$ 200,000	$ 200,000	$ 200,000
Cypress Holdings Inc And Subsidiaries [Member] \| Executive Officer [Member] \| Notes Receivable Agreement [Member]
Related party transaction rate of interest													1.58%
Notes receivable from related party face value											700,000		$ 700,000
Cypress Holdings Inc And Subsidiaries [Member] \| Executive Officer [Member] \| Notes Receivable Agreement [Member] \| Subsequent Event [Member]
Proceeds from repayment of loans receivable from related parties					$ 700,000
Cypress Holdings Inc And Subsidiaries [Member] \| Executive Officer [Member] \| Notes Receivable Agreement [Member] \| Other Current Assets [Member]
Notes receivable from related parties current											$ 700,000		$ 700,000
Cypress Holdings Inc And Subsidiaries [Member] \| Common Class B [Member] \| Director [Member]
Stock issued during period, shares, issued for services	325
Stock issued during period, value, issued for services	$ 1,000,000.0

Commitments and Contingencies - Additional Information (Detail) - USD ($)				6 Months Ended			12 Months Ended
	Feb. 02, 2021	Aug. 12, 2020	Jul. 24, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2020
Other Commitments [Line Items]
Cash underwriting fee per unit				$ 0.20	$ 0.20
Payment of stock issuance costs				$ 13,800,000	$ 13,800,000
Deferred underwriting fee payable per share				$ 0.35	$ 0.35		$ 0.35
Deferred underwriting fee payable non current				$ 24,150,000	$ 24,150,000		$ 24,150,000
Cypress Holdings Inc And Subsidiaries [Member]
Other Commitments [Line Items]
Proceeds from Issuance of Common Stock				1,007,000		$ 0
Purchase obligation, to be paid, february 28 2022				15,500,000
Purchase obligation, to be paid, february 28 2023				7,100,000
Purchase obligation, to be paid, february 28 2024				$ 6,900,000
Long Term Purchasing Agreement Relating To Licensing Data Used [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Other Commitments [Line Items]
Long term purchase commitement month of expiry				2031			2031
Purchase obligation, to be paid, february 28 2022					17,069,000		$ 17,069,000
Purchase obligation, to be paid, february 28 2023					14,669,000		14,669,000
Purchase obligation, to be paid, february 28 2024					$ 9,900,000		$ 9,900,000
Business Combination Agreement [Member]
Other Commitments [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	15,000,000
Sale of Stock, Price Per Share	$ 10.00
Proceeds from Issuance of Common Stock	$ 150,000,000
Forward Contracts [Member]
Other Commitments [Line Items]
Stock Repurchased During Period, Shares		17,500,000	17,500,000
Purchase price per share		$ 10.00	$ 10.00
Payments for repurchase of private placement		$ 175,000,000	$ 175,000,000

Commitments - Schedule of the Company has future minimum obligations (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Long-term Purchase Commitment [Line Items]
2021	$ 15,500
2022	7,100
2023	$ 6,900
Long Term Purchasing Agreement Relating To Licensing Data Used [Member]
Long-term Purchase Commitment [Line Items]
2021		$ 17,069
2022		14,669
2023		9,900
2024		9,900
2025		9,900
Thereafter		59,400
Total		$ 120,838

Commitments - Schedule of the Company has future minimum obligations (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Cypress Holdings Inc And Subsidiaries [Member] \| Long Term Purchasing Agreement Relating To Licensing Data Used [Member]
Long-term Purchase Commitment [Line Items]
Long term purchase commitement month of expiry	2031	2031

Commitments - Schedule of future minimum cash lease payments (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Other Commitments [Line Items]
2021	$ 7,143
2022	6,090
2023	5,180
2024	7,059
2025	7,243
Thereafter	68,415
Total	$ 101,130
Facilities And Office Equipment Under Non Cancellable Lease Agreement [Member]
Other Commitments [Line Items]
2021		$ 7,143
2022		6,090
2023		5,180
2024		7,059
2025		7,243
Thereafter		68,415
Total		$ 101,130

Commitments - Schedule of future minimum cash lease payments (Parenthetical) (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Millions	3 Months Ended	6 Months Ended	7 Months Ended	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Commitments [Line Items]
Operating lease rental expenses net	$ 2.2	$ 4.5
Facilities And Office Equipment Under Non Cancellable Lease Agreement [Member]
Other Commitments [Line Items]
Operating lease year of expiry				2037 years
Operating lease rental expenses net				$ 9.7	$ 9.5	$ 8.3
Lease Agrement For New Office Facility [Member] \| Chicago [Member]
Other Commitments [Line Items]
Operating lease future minimum rental payments due			$ 80.5

Shareholders' Equity - Additional Information (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Mar. 31, 2021	Sep. 30, 2020	Aug. 18, 2020
Class of Stock [Line Items]
Preferred stock shares authorised	1,000,000	1,000,000
Preferred stock par or stated value per share	$ 0.0001	$ 0.0001
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common Class A [Member]
Class of Stock [Line Items]
Common stock shares authorised	200,000,000	200,000,000	200,000,000
Common stock par or stated value per share	$ 0.0001	$ 0.0001
Common stock shares issued	0	24,893,689
Common stock shares outstanding	0	24,893,689
Temporary equity shares outstanding	69,000,000	44,106,311	69,000,000	54,536,898	61,845,583
Common stock shares description of voting rights	one vote	one vote
Common Class A [Member] \| Founder Shares [Member]
Class of Stock [Line Items]
Percentage of common stock outstanding	20.00%	20.00%
Common Class B [Member]
Class of Stock [Line Items]
Common stock shares authorised	20,000,000	20,000,000	20,000,000
Common stock par or stated value per share	$ 0.0001	$ 0.0001
Common stock shares issued	17,250,000	17,250,000
Common stock shares outstanding	17,250,000	17,250,000
Common stock shares description of voting rights	one vote	one vote

Warrant Liability - Additional Information (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Jul. 10, 2020
Warrants or rights term	5 years	5 years
Percentage Of The Market Value [Member]
Exercise price of warrants percentage	115.00%	115.00%
Percentage Of The Newly Issued Price [Member]
Exercise price of warrants percentage	115.00%	115.00%
Common Class A [Member] \| Percentage Of The Market Value [Member]
Redemption trigger share price percentage	180.00%	180.00%
Common Class A [Member] \| Percentage Of The Newly Issued Price [Member]
Redemption trigger share price percentage	180.00%	180.00%
Common Class A [Member] \| Event Triggering Warrant Price Adjustment [Member] \| Founder Shares [Member]
Sale of stock issue price per share	$ 9.20	$ 9.20
Percentage of the total gross proceeds from equity issuances for business combination	60.00%	60.00%
Volume weighted average trading price of ordinary shares	$ 9.20	$ 9.20
Triggering Share Price One [Member]
Share price	18.00	18.00	$ 18.00
Warrants redemption price	0.01	0.01
Triggering Share Price Two [Member]
Share price	10.00	10.00	$ 10.00
Warrants redemption price	$ 0.10	$ 0.10

Income Taxes - Schedule of Components of Pretax Loss Attributable to Domestic and Foreign Operations (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Before Income Tax Domestic And Foreign Operations [Line Items]
Domestic	$ (15,117)	$ (270,428)	$ (51,102)
Foreign	(6,438)	(7,205)	(6,952)
Pretax loss	$ (21,555)	$ (277,633)	$ (58,054)

Income Taxes - Schedule of Components of Income Tax Benefit (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current provision (benefit):
Federal					$ 1,539	$ 13,685	$ (1,083)
State					4,906	3,302	1,809
Total current provision					6,445	16,987	726
Deferred provision (benefit):
Federal					(7,536)	(67,874)	(11,699)
State					(3,588)	(16,406)	7,950
Foreign					(1,710)	(1,873)	(281)
Change in valuation allowance					1,710	1,873	281
Total deferred benefit			$ (11,068)	$ (16,685)	(11,124)	(84,280)	(3,749)
Total income tax benefit	$ 2,375	$ (331)	$ (704)	$ (9,711)	$ (4,679)	$ (67,293)	$ (3,023)

Income Taxes - Summary of Effective Income Tax Rate Differs From The Federal Statutory Rate (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Expense Benefit Continuing Operations Income Tax Reconciliation [Line Items]
Federal income tax benefit at statutory rate					$ (4,527)	$ (58,303)	$ (12,191)
State and local taxes-net of federal income tax effect					288	(13,797)	9,378
Impairment of goodwill						5,417
Foreign rate difference					(227)	(284)	(272)
Research and experimental credit					(3,058)	(2,401)	(1,926)
Other nondeductible expenses					812	441	445
Uncertain tax positions					589	574	230
Valuation allowance					1,572	1,926	1,480
Other—net					(128)	(866)	(167)
Total income tax benefit	$ 2,375	$ (331)	$ (704)	$ (9,711)	$ (4,679)	$ (67,293)	$ (3,023)
Federal income tax benefit at statutory rate					21.00%	21.00%	21.00%
State and local taxes-net of federal income tax effect					(1.30%)	5.00%	(16.20%)
Impairment of goodwill						(2.00%)
Foreign rate difference					1.10%	0.10%	0.50%
Research and experimental credit					14.20%	0.90%	3.30%
Other nondeductible expenses					(3.80%)	(0.20%)	(0.80%)
Uncertain tax positions					(2.70%)	(0.20%)	(0.40%)
Valuation allowance					(7.30%)	(0.70%)	(2.50%)
Other—net					0.50%	0.30%	0.30%
Income tax benefit	38.40%	14.40%	35.60%	26.30%	21.70%	24.20%	5.20%

Income Taxes - Schedule of Deferred Income Tax Assets and Liabilities (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax assets:
Accrued compensation	$ 7,020	$ 7,848
Net operating losses—foreign	9,347	7,637
Stock-based compensation	6,558	4,399
Research and experimental credit	2,005	1,352
Sales allowances and doubtful accounts	1,074	1,008
Capitalized acquisition costs	211	238
Net operating losses—domestic (state)	716	726
Disallowed interest expense	2,086	16,324
Interest rate swaps	4,685	1,301
Other	2,474	732
Total deferred income tax assets	36,176	41,565
Valuation allowance for deferred tax asset	(9,347)	(7,637)
Net deferred income tax assets	26,829	33,928
Deferred income tax liabilities:
Intangible asset amortization	331,941	354,628
Software, equipment and property depreciation and amortization	10,526	6,872
Deferred contract costs	6,710	5,900
Total deferred income tax liabilities	349,177	367,400
Net deferred income tax liabilities	$ 322,348	$ 333,472

Income Taxes - Schedule of Change in Unrecognised Tax Benefits Excluding Interest and Penalties (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
Balance at end of year	$ 0
Cypress Holdings Inc And Subsidiaries [Member]
Income Tax Contingency [Line Items]
Balance at beginning of year	2,306,000	$ 1,508,000
Additions based on tax positions related to the current year	719,000	589,000
Additions based on true ups to tax positions of prior years	91,000	248,000
Reductions for tax positions of prior years	(71,000)	(39,000)
Balance at end of year	$ 3,045,000	$ 2,306,000

Income Taxes - Summary of Major Jurisdictions Subject to Examination by the relevant Tax Auhtorities and Open Tax Years (Detail) - Cypress Holdings Inc And Subsidiaries [Member]	12 Months Ended
	Dec. 31, 2020
Maximum [Member] \| UNITED STATES \| Domestic Tax Authority [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2019
Maximum [Member] \| UNITED STATES \| State and Local Jurisdiction [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2019
Maximum [Member] \| CHINA \| Foreign Tax Authority [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2019
Maximum [Member] \| CANADA \| Foreign Tax Authority [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2019
Minimum [Member] \| UNITED STATES \| Domestic Tax Authority [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2017
Minimum [Member] \| UNITED STATES \| State and Local Jurisdiction [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2017
Minimum [Member] \| CHINA \| Foreign Tax Authority [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2017
Minimum [Member] \| CANADA \| Foreign Tax Authority [Member]
Income Tax Contingency [Line Items]
Open Tax Year	2017

Income Taxes - Additional Information (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Line Items]
Modification to net interest deduction limitation resulted in a benefit					$ 16,800
Income tax payment	$ 6,500	$ 1,100	$ 10,400	$ 1,100	$ 9,500	$ 18,400	$ 3,500
Percentage of valuation allowance established					100.00%	100.00%
Increase in valuation allowance					$ 1,700	$ 1,400	$ 300
Net operating losses expire					2020 through 2025
Unrecognised tax benefits Liability excluding interest and penalties,decrease					$ 14
Effective tax rate	38.40%	14.40%	35.60%	26.30%	21.70%	24.20%	5.20%
Unrecognized tax benefits period increase			$ 3,600
Foreign Subsidiaries [Member]
Income Tax Disclosure [Line Items]
Income tax payment					$ 0	$ 0	$ 0
CHINA
Income Tax Disclosure [Line Items]
Operating loss carryforward period					5 years
Foreign Tax Authority [Member]
Income Tax Disclosure [Line Items]
Accumulated net operating losses relating to foreign subsidiaries					$ 9,300	7,600
State and Local Jurisdiction [Member]
Income Tax Disclosure [Line Items]
Net operating losses expire					2021
Operating loss carryforward period					20 years
Net operating losses					$ 700
Operating losses expire year if not fully utilized					2037
Internal Revenue Service (IRS) [Member]
Income Tax Disclosure [Line Items]
Income tax refund received		$ 1,400	$ 16	$ 1,400	$ 10,400	$ 500	$ 1,800

Equity Method Investment - Summary of Change in the Carrying Value of the Investment (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of Equity Method Investments [Line Items]
Cash contributions	$ 10,189	$ 0
Equity method investment carrying value at June 30, 2021	10,228
Technology Company [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment carrying value at December 31, 2020	0
Cash contributions	10,228
Equity method investment carrying value at June 30, 2021	$ 10,228

Equity Method Investment - Additional Information (Detail) - Subsidiaries [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Schedule of Equity Method Investments [Line Items]
Purchase of equity method investment	$ 10,189	$ 0
Equity Method Investment, Ownership Percentage	7.00%
Technology Company [Member]
Schedule of Equity Method Investments [Line Items]
Purchase of equity method investment	$ 10,228
Equity Method Investment, Ownership Percentage	7.00%

Accounts Receivable - Schedule of Accounts Receivable, Net (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 86,035		$ 78,331			$ 67,583
Allowance for doubtful accounts and sales reserves	(4,218)	$ (3,931)	(4,224)	$ (3,918)	$ (4,482)	(3,970)	$ (3,024)	$ (6,472)
Accounts receivable–net	$ 81,817		$ 74,107			$ 63,613

Accounts Receivable - Schedule of Changes to the Allowance for Doubtful Accounts and Sales Reserves (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	$ 3,931	$ 4,482	$ 4,224	$ 3,970	$ 3,970	$ 3,024	$ 6,472
Charges to bad debt and sales reserves	640	618	1,706	1,863	3,814	3,113	2,375
Write-offs, net	(353)	(1,182)	(1,712)	(1,915)	(3,560)	(2,167)	(5,823)
Balance at end of period	$ 4,218	$ 3,918	$ 4,218	$ 3,918	$ 4,224	$ 3,970	$ 3,024

Other Current Assets - Schedule of Other Current Assets (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Prepaid Expense And Other Assets Current [Line Items]
Prepaid software and equipment maintenance	$ 5,824	$ 7,499	$ 7,491
Prepaid SaaS costs	4,740	4,290	3,913
Prepaid service fees	3,105	3,969	4,256
Non-trade receivables	8,137	9,095	1,144
Deferred business combination costs	2,950	0
Other	8,768	6,733	4,511
Total	$ 33,524	$ 31,586	$ 21,315

Other Current Assets - Additional Information (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands		1 Months Ended		6 Months Ended	12 Months Ended
	Jan. 01, 2021	Aug. 31, 2021	Apr. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Prepaid Expense And Other Assets Current [Line Items]
Gain loss on divestiture of business				$ 3,800	$ 3,800	$ 0	$ 0
Subsequent Event [Member]
Prepaid Expense And Other Assets Current [Line Items]
Proceeds From thirdy party buyer under asset purchase agreement	$ 1,800	$ 700	$ 400

Software, Equipment, And Property - Schedule of Software,Equipment and Property (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total software, equipment, and property	$ 178,676	$ 161,007	$ 131,945
Less accumulated depreciation and amortization	(70,036)	(59,569)	(42,441)
Net software, equipment, and property	108,640	101,438	89,504
Software, Licenses and Database [Member]
Property, Plant and Equipment [Line Items]
Total software, equipment, and property	125,269	109,967	91,111
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total software, equipment, and property	29,510	27,733	22,229
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total software, equipment, and property	14,005	13,397	10,085
Furniture and Other Equipment [Member]
Property, Plant and Equipment [Line Items]
Total software, equipment, and property	4,982	5,000	3,610
Building and Land [Member]
Property, Plant and Equipment [Line Items]
Total software, equipment, and property	$ 4,910	$ 4,910	$ 4,910

Software, Equipment, And Property - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cypress Holdings Inc And Subsidiaries [Member]
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 5.3	$ 4.2	$ 10.5	$ 8.5	$ 17.7	$ 18.4	$ 14.7

Leases - Summary of Lease Cost (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Leases [Line Items]
Operating lease costs	$ 4,542	$ 9,136
Variable lease costs	461	1,063
Total lease costs	$ 5,003	$ 10,199

Leases - Summary of Supplemental Cash Flow and Other Information Related to Leases (Detail) - Cypress Holdings Inc And Subsidiaries [Member] $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)
Leases [Line Items]
Weighted-average remaining lease term (years)	11 years 1 month 6 days	11 years 1 month 6 days
Weighted-average discount rate	6.10%	6.10%
Cash payments for operating leases	$ 3,030	$ 5,998
Operating lease assets obtained in exchange for lease liabilities	$ 2,365	$ 2,365

Leases - Summary of Operating Lease Liabilities (Detail) - Cypress Holdings Inc And Subsidiaries [Member] $ in Thousands	Jun. 30, 2021 USD ($)
Leases [Line Items]
Remainder of 2021	$ 5,506
2022	8,599
2023	6,092
2024	7,195
2025	7,243
Thereafter	68,416
Total Lease Payments	103,051
Less: Interest	(35,299)
Less: Lease incentive recognized as offset to lease liability	(16,868)
Total	$ 50,884

Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Detail) - Cypress Holdings Inc And Subsidiaries [Member] $ in Thousands	Jun. 30, 2021 USD ($)
Leases [Line Items]
2021	$ 7,143
2022	6,090
2023	5,180
2024	7,059
2025	7,243
Thereafter	68,415
Total	$ 101,130

Leases - Additional Information (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2020	Jun. 30, 2021
Leases [Line Items]
Operating lease rental expenses net	$ 2.2	$ 4.5
Corporate Headquarters Chicago Lllinois [Member]
Leases [Line Items]
Lease commencate month year			2021-01
Reimbursements from lessor			$ 16.9
Maximum [Member] \| Office Space and Data Center Facilities [Member]
Leases [Line Items]
Operating lease term				17 years
Operating lease term extension				10 years
Maximum [Member] \| Equipment Leases [Member]
Leases [Line Items]
Operating lease term				3 years
Minimum [Member] \| Office Space and Data Center Facilities [Member]
Leases [Line Items]
Operating lease term				1 year
Operating lease term extension				5 years
Minimum [Member] \| Equipment Leases [Member]
Leases [Line Items]
Operating lease term				1 year

Goodwill and Intangible Assets - Schedule of Changes in the Carrying Amount of Goodwill (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Cost		$ 1,492,681	$ 1,492,681
Accumulated Impairment Loss		(25,797)	(25,797)
Net Carrying Value	$ 1,466,884	$ 1,466,884	$ 1,466,884	$ 0

Goodwill and Intangible Assets - Summary of Intangible Assets Balance (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,483,190	$ 1,483,184	$ 1,483,171
Accumulated Amortization	(411,052)	(361,737)	(263,124)
Net Carrying Amount	1,072,138	1,121,447	1,220,047
Intangible assets, Gross Carrying Amount	1,673,660	1,673,654	1,673,641
Intangible assets, Net Carrying Amount	1,262,608	1,311,917	1,410,517
Trademarks—indefinite life, Accumulated Amortization	(361,737)	(411,052)
Trademarks [Member]
Schedule Of Intangible Assets [Line Items]
Indefinite life intangible assets	$ 190,470	$ 190,470	$ 190,470
Customer Relationships [Member]
Schedule Of Intangible Assets [Line Items]
Weighted- Average Remaining Useful Life (Years)	13 years 9 months 18 days	14 years 3 months 18 days	15 years 3 months 18 days
Gross Carrying Amount	$ 1,299,750	$ 1,299,750	$ 1,299,750
Accumulated Amortization	(301,699)	(265,567)	(193,304)
Net Carrying Amount	$ 998,051	$ 1,034,183	$ 1,106,446
Customer Relationships [Member] \| Maximum [Member]
Schedule Of Intangible Assets [Line Items]
Estimated Useful Life (Years)	18 years	18 years	18 years
Customer Relationships [Member] \| Minimum [Member]
Schedule Of Intangible Assets [Line Items]
Estimated Useful Life (Years)	16 years	16 years	16 years
Acquired Technologies [Member]
Schedule Of Intangible Assets [Line Items]
Estimated Useful Life (Years)			3 years
Weighted- Average Remaining Useful Life (Years)	2 years 9 months 18 days	3 years 3 months 18 days	4 years 3 months 18 days
Gross Carrying Amount	$ 183,160	$ 183,154	$ 183,141
Accumulated Amortization	(109,158)	(95,998)	(69,695)
Net Carrying Amount	$ 74,002	$ 87,156	$ 113,446
Acquired Technologies [Member] \| Maximum [Member]
Schedule Of Intangible Assets [Line Items]
Estimated Useful Life (Years)	7 years	7 years	7 years
Acquired Technologies [Member] \| Minimum [Member]
Schedule Of Intangible Assets [Line Items]
Estimated Useful Life (Years)	3 years	3 years	3 years
Favorable Lease Terms [Member]
Schedule Of Intangible Assets [Line Items]
Estimated Useful Life (Years)	6 years	6 years	6 years
Weighted- Average Remaining Useful Life (Years)	1 year 9 months 18 days	2 years 3 months 18 days	3 years 3 months 18 days
Gross Carrying Amount	$ 280	$ 280	$ 280
Accumulated Amortization	(195)	(172)	(125)
Net Carrying Amount	$ 85	$ 108	$ 155

Goodwill and Intangible Assets - Schedule of Future Amortization Expense for Intangible Assets (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets Future Amortization Expense [Line Items]
2021	$ 49,318
2022	98,627	$ 98,627
2023	98,333	98,627
2024	80,731	98,333
2025	72,263	80,731
2025		72,263
Thereafter	672,866
Thereafter		672,866
Total	$ 1,072,138	$ 1,121,447	$ 1,220,047

Goodwill and Intangible Assets - Additional Information (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Line Items]
Goodwill impairment	$ 0	$ 0	$ 0	$ 0	$ 0	$ 25,797,000	$ 0
Percentage of weighted average cost of capital						11.50%
Carrying amount of goodwill	1,466,884,000		1,466,884,000		1,466,884,000	$ 1,466,884,000	0
Impairment charge	0	0	0	0	0	175,269,000	0
Amortization expense for intangible assets	$ 24,700,000	$ 24,700,000	$ 49,315,000	$ 49,304,000	$ 98,613,000	109,126,000	$ 112,713,000
Acquired Technologies [Member]
Goodwill And Intangible Assets Disclosure [Line Items]
Acquired intangible assets						$ 800,000
Finite-Lived Intangible Asset, Useful Life						3 years
Customer Relationships [Member]
Goodwill And Intangible Assets Disclosure [Line Items]
Impairment charge						$ 181,300,000

Accrued Expenses - Schedule of Accrued Expenses (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Accrued Liabilities Current [Line Items]
Compensation	$ 32,439	$ 37,696	$ 35,316
Professional services	13,530	2,753	2,288
Royalties and licenses	2,602	2,301	3,128
Sales tax	2,503	2,294	2,057
Employee insurance benefits	2,130	1,979	1,681
Software license agreement	1,917
Other	3,272	5,964	8,662
Total	$ 58,393	$ 52,987	$ 53,132

Other Liabilities - Summary of Other Liabilities (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities Noncurrent [Line Items]
Phantom stock incentive plan	$ 4,338	$ 3,217	$ 921
Payroll tax deferment	3,152	3,152
Software license agreement	2,168	234	1,284
Deferred revenue-non-current	1,932	2,001	1,160
Deferred rent		4,461	1,989
Fair value of interest rate swaps		18,359	5,110
Other	121	1,346	1,190
Total	$ 11,711	$ 32,770	$ 11,654

Long-Term Debt - Summary of Long Term Debt (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt—discount		$ (2,788)	$ (3,694)	$ (4,327)
Long-term debt—deferred financing fees		(16,134)	(23,960)	$ (28,797)
Long-term debt—net of discount & fees		1,336,154
Total debt		1,317,978	1,323,512
Less: Current portion	$ (13,846)	(25,381)	(10,000)
Total long-term debt—net of current portion	1,299,774	1,292,597	1,313,512
First Lien Term Loan [Member]
Debt Instrument [Line Items]
Long-term debt, gross	1,329,231	1,336,154	975,000
Long-term debt—discount	(2,396)	(2,788)	(1,614)
Long-term debt—deferred financing fees	(13,215)	(15,388)	(16,211)
Long-term debt—net of discount & fees	$ 1,313,620	1,317,978	957,175
Total long-term debt—net of current portion		1,292,597	947,175
Second Lien Term Loan [Member]
Debt Instrument [Line Items]
Long-term debt, gross			375,000
Long-term debt—discount			(2,080)
Long-term debt—deferred financing fees			(6,583)
Long-term debt—net of discount & fees			366,337
Total long-term debt—net of current portion		$ 0	$ 366,337

Long-Term Debt - Summary of Debt Deferred Financing Fees And Discount (Detail) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument, Unamortized Discount [Abstract]
Amortization of fees and discount	$ (1,000,000)	$ (2,000,000)
Cypress Holdings Inc And Subsidiaries [Member]
Debt Issuance Costs, Net [Abstract]
Deferred Financing Fees, Beginning balance		16,134,000	$ 23,960,000	$ 23,960,000	$ 28,797,000
Fees written off of due to early extinguishment of debt				(6,558,000)
Payment of fees and discount				3,362,000
Amortization of fees and discount				(4,630,000)	(4,837,000)
Deferred Financing Fees, Ending balance				16,134,000	23,960,000	$ 28,797,000
Debt Instrument, Unamortized Discount [Abstract]
Discount (contra debt), Beginning balance		2,788,000	3,694,000	3,694,000	4,327,000
Fees written off of due to early extinguishment of debt				(2,043,000)
Payment of fees and discount				1,875,000
Amortization of fees and discount		$ (392,000)	$ (327,000)	(738,000)	(633,000)	(597,000)
Discount (contra debt), Ending balance				$ 2,788,000	$ 3,694,000	$ 4,327,000

Long-Term Debt - Summary of Aggregate Maturities Of Our Long-Term Debt (Detail) - Cypress Holdings Inc And Subsidiaries [Member] $ in Thousands	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
2021	$ 25,381
2022	2,312
2023	13,846
2024	1,294,615
Total	$ 1,336,154

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

Long-Term Debt - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 19, 2021	May 31, 2020	Mar. 31, 2020
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity								$ 2,000,000
Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt	$ 0	$ 0	$ 0	$ (8,615,000)	$ (8,615,000)	$ 0	$ 0
Long-term line of credit					1,317,978,000	1,323,512,000
Proceeds from issuance of long-term debt			0	$ 369,792,000	369,792,000	0	0
Debt instrument, unamortized discount					2,788,000	3,694,000	4,327,000
Debt issuance costs, net					16,134,000	23,960,000	$ 28,797,000
Unamortized financing costs	13,200,000		13,200,000		16,100,000	16,200,000
Long-term debt					1,336,154,000
Long-term debt, current	$ 13,846,000		$ 13,846,000		$ 25,381,000	10,000,000
Percentage of aggregate commitments on borrowings	35.00%		35.00%		35.00%
Interest Rate Swap [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Line of credit facility, expiration period			2 years 6 months		2 years 6 months
Derivative, Notional Amount	$ 777,700,000		$ 777,700,000		$ 777,700,000	864,900,000
First Lien Amendment [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Debt issuance costs, net	3,400,000		3,400,000		3,400,000
Line of credit facility, periodic payment, principal			3,500,000		3,500,000
First Lien Credit Agreement [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Debt issuance costs, net	27,600,000		27,600,000		27,600,000
Second Lien Credit Agreement [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt			372,200,000
Debt instrument, unamortized discount	2,800,000		2,800,000
Debt issuance costs, net	600,000		600,000		$ 700,000	1,200,000
Long-term debt						375,000,000.0
Line of credit facility, maximum borrowing capacity	$ 375,000,000.0		$ 375,000,000.0
Maximum [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Leverage ratio	8.30		8.30		8.30
Maximum [Member] \| First Lien Credit Agreement [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Line of credit facility, expiration period			4 years 1 month 27 days		4 years 1 month 27 days
Minimum [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Leverage ratio	1.00		1.00		1.00
Minimum [Member] \| First Lien Credit Agreement [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Line of credit facility, expiration period			4 years 1 month		4 years 1 month
First Lien Term Loan [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount	$ 2,400,000		$ 2,400,000		$ 2,800,000
Line of credit facility, periodic payment, principal					21,900,000	0
Debt instrument, annual principal payment					$ 1,500,000
Percentage of annual excess cash flow on line of credit			50.00%		50.00%
Long-term debt	1,329,200,000		$ 1,329,200,000		$ 1,336,200,000	975,000,000.0
Long-term debt, current	$ 13,800,000		$ 13,800,000		$ 25,400,000	$ 10,000,000.0
Line of Credit Facility, Commitment Fee Percentage			0.50%		0.50%
Weighted average interest rate of debt outstanding	4.10%	4.10%	4.10%	4.30%	4.20%	5.20%	5.00%
Interest Expense, Debt	$ 13,500,000	$ 13,200,000	$ 26,800,000	$ 26,200,000	$ 53,600,000	$ 50,700,000	$ 50,300,000
First Lien Term Loan [Member] \| First Lien Credit Agreement [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	1,000,000,000.0		1,000,000,000.0		1,000,000,000.0
Proceeds from issuance of long-term debt			997,500,000		997,500,000
Debt instrument, unamortized discount	$ 2,500,000		$ 2,500,000		$ 2,500,000
First Lien Term Loan [Member] \| Maximum [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate at Period End	4.00%		4.00%		4.00%
First Lien Term Loan [Member] \| Minimum [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate at Period End	3.00%		3.00%		3.00%
Dollar Revolving Credit Facility [Member] \| First Lien Amendment [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	$ 59,300,000		$ 59,300,000		$ 59,300,000
Dollar Revolving Credit Facility [Member] \| First Lien Credit Agreement [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	65,000,000.0		65,000,000.0		65,000,000.0
Multicurrency Revolving Credit Facility [Member] \| First Lien Amendment [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	32,000,000.0		32,000,000.0		32,000,000.0
Multicurrency Revolving Credit Facility [Member] \| First Lien Credit Agreement [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	35,000,000.0		35,000,000.0		35,000,000.0
First Lien Revolvers [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	30,000,000.0		30,000,000.0		30,000,000.0
First Lien Revolvers [Member] \| First Lien Credit Agreement [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	30,000,000.0		30,000,000.0		30,000,000.0
Incremental Term Loan [Member] \| First Lien Credit Agreement [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	375,000,000.0		375,000,000.0		375,000,000.0
Proceeds from issuance of long-term debt			373,100,000		373,100,000
Debt instrument, unamortized discount	1,900,000		1,900,000		1,900,000
Non Extended Dollar Revolving [Member] \| First Lien Amendment [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	8,100,000		8,100,000		8,100,000
Non Extended Multicurrency Revolver [Member] \| First Lien Amendment [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	4,400,000		$ 4,400,000		$ 4,400,000
Non Extended Credit Facility [Member] \| First Lien Credit Agreement [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Line of credit facility, expiration period			2 years		2 years
Extended Dollar Revolving Credit Facility [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	51,200,000		$ 51,200,000		$ 51,200,000
Extended Multicurrency Revolving Credit Facility [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term line of credit	27,600,000		$ 27,600,000		$ 27,600,000
Extended Credit Facility [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Line of credit facility, expiration period			3 years		3 years
Standby Letters of Credit [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity									$ 700,000
First Lien Revolvers Credit Facility [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	0		$ 0		$ 0	0				$ 65,000,000.0
Line of Credit Facility, Current Borrowing Capacity	90,600,000		90,600,000		90,600,000	100,000,000.0
Twenty Twenty Refinancing [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Debt issuance costs, net	8,900,000		8,900,000		8,900,000
Unamortized financing costs	$ 6,600,000		$ 6,600,000		6,600,000	$ 6,600,000
Second Lien Term Loan [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt					372,200,000
Debt instrument, unamortized discount					$ 2,800,000
Line of Credit Facility, Interest Rate at Period End	6.75%		6.75%		6.75%
Weighted average interest rate of debt outstanding			8.60%		8.60%	9.10%	8.80%
Interest Expense, Debt			$ 4,000,000.0		$ 4,000,000.0	$ 34,300,000	$ 33,400,000
Line of credit facility, maximum borrowing capacity					$ 375,000,000.0

Long-Term Licensing Agreement - Summary Of Principal Amounts Due In Each Of The Next Five Years (Detail) - Cypress Holdings Inc And Subsidiaries [Member] $ in Thousands	Dec. 31, 2020 USD ($)
LongTerm Licensing Agreement [Line Items]
2021	$ 2,540
2022	2,703
2023	2,876
2024	3,061
2025	3,257
Thereafter	24,434
Total	$ 38,871

Long-Term Licensing Agreement - Additional Information (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2021	Mar. 31, 2020
LongTerm Licensing Agreement [Line Items]
Contract with customer, liability	$ 30,756	$ 28,678	$ 30,756	$ 28,678	$ 28,515	$ 26,256	$ 22,787	$ 30,109	$ 27,874
Debt instrument, unamortized discount					2,788	3,694	$ 4,327
Licensing Agreement [Member]
LongTerm Licensing Agreement [Line Items]
Effective interest rate during the period							6.25%
Line of credit facility, annual principal payment							$ 1,200
Line of credit facility, expiration period							13 years
Contract with customer, liability	37,600		37,600		38,900	41,300	$ 45,600
Debt issuance costs, current	2,600		2,600		2,500	2,400	23,200
Interest expense, debt	600	$ 600	1,200	$ 1,300	2,500	2,700	$ 2,800
Debt instrument, unamortized discount	$ 14,000		$ 14,000		$ 15,200	$ 17,800

Redeemable Non-Controlling Interest - Additional Information (Detail) - USD ($)		6 Months Ended	12 Months Ended
	Mar. 12, 2020	Dec. 31, 2020	Dec. 31, 2020	Jun. 30, 2021	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Stock issued during period, value, new issues		$ 631,813,992
Cypress Holdings Inc And Subsidiaries [Member]
Noncontrolling Interest [Line Items]
Stock issued during period, value, new issues			$ 1,560,000
Preferred stock, dividend rate, percentage	8.00%
Percentage of compound interest per annum on the preferred share issue price	10.00%
Redeemable noncontrolling interest, equity, carrying amount		$ 14,179,000	$ 14,179,000	$ 14,179,000	$ 0
Series A Preferred Stock [Member] \| CCC Cayman [Member] \| Cypress Holdings Inc And Subsidiaries [Member]
Noncontrolling Interest [Line Items]
Stock issued during period, shares, new issues	1,818
Shares issued, price per share	$ 7,854
Stock issued during period, value, new issues	$ 14,200,000
Percentage of shares reserved for issuance under employee incentive plan	9.10%
Preferred stock, dividend rate, percentage	8.00%
Series A Preferred Stock [Member] \| CCC Cayman [Member] \| Cypress Holdings Inc And Subsidiaries [Member] \| Ownership Interest [Member]
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners	10.70%

Capital Stock - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended				3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2021 USD ($) shares	Feb. 28, 2021 USD ($) shares	Jan. 31, 2021 USD ($) shares	Feb. 29, 2020 USD ($) shares	Jun. 30, 2021 USD ($) Directors $ / shares shares	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) Directors $ / shares shares	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) Directors $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) shares
Class of Stock [Line Items]
Preferred stock shares issued					0		0		0
Common Class A [Member]
Class of Stock [Line Items]
Common stock par or stated value per share \| $ / shares					$ 0.0001		$ 0.0001		$ 0.0001
Common stock shares authorised	200,000,000				200,000,000		200,000,000		200,000,000
Common stock shares issued					0		0		24,893,689
Common stock shares outstanding					0		0		24,893,689
Common Class B [Member]
Class of Stock [Line Items]
Common stock par or stated value per share \| $ / shares					$ 0.0001		$ 0.0001		$ 0.0001
Common stock shares authorised	20,000,000				20,000,000		20,000,000		20,000,000
Common stock shares issued					17,250,000		17,250,000		17,250,000
Common stock shares outstanding					17,250,000		17,250,000		17,250,000
Cypress Holdings Inc And Subsidiaries [Member]
Class of Stock [Line Items]
Shares authorized total							5,000,000		5,000,000
Temporary equity shares authorized					1,500,000		1,500,000		1,500,000
Temporary equity par or stated value per share \| $ / shares									$ 0.001
Stock issued during the period shares stock options exercised							479		1,398	926	114
Allocated share based compensation \| $					$ 2,883	$ 2,271	$ 15,537	$ 5,461	$ 11,336	$ 7,124	$ 7,199
Payment of dividend classified as financing activities \| $	$ 134,500										$ 50,000
Preferred stock shares issued					0		0		0	0
Cypress Holdings Inc And Subsidiaries [Member] \| Common Class A [Member]
Class of Stock [Line Items]
Common stock par or stated value per share \| $ / shares					$ 0.001		$ 0.001		$ 0.001	$ 0.001
Common stock shares authorised					3,000,000		3,000,000		3,000,000	3,000,000
Common stock shares issued					1,450,978		1,450,978		1,450,978	1,450,978	1,450,978
Common stock shares outstanding					1,450,978		1,450,978		1,450,978	1,450,978	1,450,978
Cypress Holdings Inc And Subsidiaries [Member] \| Common Class B [Member]
Class of Stock [Line Items]
Common stock par or stated value per share \| $ / shares					$ 0.001		$ 0.001		$ 0.001	$ 0.001
Common stock shares authorised					500,000		500,000		500,000	500,000
Number of directors the holders of common stock are eligible to vote \| Directors					1		1		1
Common stock shares issued					33,178		33,178		29,785	27,967	27,405
Common stock shares outstanding					33,178		33,178		29,785	27,967	27,405
Stock issued during the period shares stock options exercised									1,000
Cypress Holdings Inc And Subsidiaries [Member] \| Common Class B [Member] \| Executive Officer [Member]
Class of Stock [Line Items]
Stock issued during the period shares stock options exercised		2,595		1,000
Allocated share based compensation \| $		$ 8,000		$ 1,600					$ 1,600
Cypress Holdings Inc And Subsidiaries [Member] \| Common Class B [Member] \| Director [Member]
Class of Stock [Line Items]
Stock issued during the period shares stock options exercised			325
Allocated share based compensation \| $			$ 1,000

Employee Benefit Plans - Additional Information (Detail) - CCC 401(k) Retirement Savings and Investment Plan [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost					$ 4.6	$ 4.9	$ 4.7
Cypress Holdings Inc And Subsidiaries [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost	$ 1.5	$ 1.2	$ 2.8	$ 2.2

Stock Incentive Plans - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - Share-based Payment Arrangement, Option [Member] - Common Class B [Member] - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Time Based Vesting Conditions [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 6 months	6 years 6 months	6 years 6 months	6 years 6 months
Expected volatility	40.00%	40.00%	40.00%	40.00%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Risk-free interest rate minimum	0.62%	0.39%	1.62%	2.64%
Risk-free interest rate maximum	0.67%	0.45%	2.38%	2.99%
Fair value at Valuation Date	$ 1,250	$ 622	$ 525	$ 474
Performance And Market Based Vesting Conditions [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 6 months	5 years 6 months	6 years 6 months	6 years 6 months
Expected volatility	33.00%	33.00%	40.00%	45.00%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Risk-free interest rate	0.44%	0.44%	2.38%	2.93%
Fair value at Valuation Date	$ 298	$ 298	$ 228	$ 200

Stock Incentive Plans - Summary of Share-based Payment Arrangement, Expensed and Capitalized, Amount (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 2,883	$ 2,271	$ 15,537	$ 5,461	$ 11,336	$ 7,124	$ 7,199
Cost of Revenues [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	176	160	394	239	494	485	454
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	700	416	1,275	621	1,174	1,216	1,095
Sales and marketing [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	735	696	1,289	1,075	2,024	1,858	2,207
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 1,272	$ 999	$ 12,579	$ 3,526	$ 7,644	$ 3,565	$ 3,443

Stock Incentive Plans - Summary of Share-based Compensation Arrangements by Share-based Payment Award (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares - Beginning Balance	163,177	154,810	149,118	145,350
Shares - Granted	8,288	12,363	12,720	9,838
Shares - Exercised	(479)	(1,398)	(926)	(114)
Shares - Forfeited and canceled	(750)	(2,598)	(6,102)	(5,956)
Shares - Ending Balance	170,236	163,177	154,810	149,118	145,350
Shares - Exercisable	57,485	41,230
Shares - Vested and expected to vest	153,913	145,907
Weighted- Average Exercise Price - Beginning Balance	$ 1,033	$ 990	$ 969	$ 1,000
Weighted- Average Exercise Price - Granted	3,100	1,560	1,216	1,032
Weighted- Average Exercise Price - Exercised	971	971	966	966
Weighted- Average Exercise Price - Forfeited and canceled	1,542	1,028	966	974
Weighted- Average Exercise Price - Ending Balance	1,131	1,033	$ 990	$ 969	$ 1,000
Weighted- Average Exercise Price - Exercisable	1,036	976
Weighted- Average Exercise Price - Vested and expected to vest	$ 1,123	$ 1,023
Weighted-Average Remaining Contractual Life (in years)	6 years 7 months 6 days	6 years 10 months 24 days	7 years 8 months 12 days	8 years 7 months 6 days	9 years 6 months
Weighted-Average Remaining Contractual Life (in years) - Exercisable	6 years 3 months 18 days	6 years 7 months 6 days
Weighted-Average Remaining Contractual Life (in years) - Vested and expected to vest	6 years 7 months 6 days	6 years 10 months 24 days
Aggregate Intrinsic Value - Beginning Balance	$ 337,358	$ 88,271	$ 30,652	$ 0
Aggregate Intrinsic Value - Ending Balance	402,520	337,358	$ 88,271	$ 30,652	$ 0
Aggregate Intrinsic Value - Exercisable	141,418	87,582
Aggregate Intrinsic Value - Vested and expected to vest	$ 365,110	$ 303,007

Stock Incentive Plans - Additional Information (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 26, 2018	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award stock options granted during the period				8,288		12,363	12,720	9,838
Allocated share based compensation expense		$ 2,883	$ 2,271	$ 15,537	$ 5,461	$ 11,336	$ 7,124	$ 7,199
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expense		$ 1,272	999	$ 12,579	3,526	$ 7,644	$ 3,565	$ 3,443
Common Class B [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award stock options granted during the period				479		1,398	926	114
Share based compensation by share based arrangement options vested and outstanding						41,230	27,567	14,191
Share based compensation by share based award options excercised shares issued net of tax witholding obligation				473		971	688	16
Shares Paid For Tax Witholding For Share Based Compensation				6		427	238	98
Share based compensation by share based arrangement aggregate intrinsic value of options excercised during the period				$ 1,000		$ 823	$ 451	$ 24
Share based compensation by share based arrangement options vested during the period aggregate fair value				$ 8,700		$ 6,900	$ 6,700	$ 6,500
Common Class B [Member] \| Two Thousand Seventeen Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based arrangement number of shares authorized for issuance		201,445		201,445		201,445
Share based compensation by share based arrangement number of shares available for issuance		20,770		20,770		31,879
Share based compensation by share based award stock options granted during the period				8,288		12,363	12,720	9,838
Share based compensation by share based arrangement exercise price of non vested options outstanding	$ 1,000
Share based compensation by share based arrangement plan modification incremental compensation cost								$ 100
Share based compensation by share based arrangement plan unrecognized compensation modification of plan options								$ 600
Common Class B [Member] \| Modification In The Share Based Compensation Plan [Member] \| Two Thousand Seventeen Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based arrangement number of non vested options subject to modifications	148,926
Share based compensation by share based arrangement exercise price of non vested options outstanding	$ 966
Share based compensation by share based award increase in the fair value per share of vested options	$ 10
Share based compensation by share based arrangement plan fair value per share of non vested options outstanding								$ 200
Common Class B [Member] \| Time Based Vesting Conditions [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based arrangement unrecognised compensation for options unvested remaining period for recognition				3 years 2 months 12 days
Common Class B [Member] \| Time Based Vesting Conditions [Member] \| Two Thousand Seventeen Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award stock options granted during the period				8,088		6,195	6,378	4,927
Common Class B [Member] \| Performance And Market Based Vesting Conditions [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award weighted average grant date fair value of options granted during the period				$ 298		$ 298	$ 228	$ 200
Share based compensation by share based arrangement unrecognised compensation for options unvested		$ 17,100		$ 17,100		$ 17,200
Share based compensation by share based arrangement unrecognised compensation for options unvested remaining period for recognition				3 years 2 months 12 days		2 years 6 months
Common Class B [Member] \| Performance And Market Based Vesting Conditions [Member] \| Two Thousand Seventeen Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award stock options granted during the period				200		6,168	6,342	4,911
Common Class B [Member] \| Time Based Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award weighted average grant date fair value of options granted during the period				$ 1,250		$ 622	$ 525	$ 474
Share based compensation by share based arrangement unrecognised compensation for options unvested		$ 18,000		$ 18,000		$ 14,500
Share based compensation by share based arrangement unrecognised compensation for options unvested remaining period for recognition						2 years 6 months
Common Class B [Member] \| Share-based Payment Arrangement, Option [Member] \| Two Thousand Seventeen Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award term of stock options				10 years		10 years
Common Class B [Member] \| Share-based Payment Arrangement, Option [Member] \| Time Based Vesting [Member] \| Two Thousand Seventeen Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based award requisite service period				5 years		5 years
Common Class B [Member] \| Phantom Share Units (PSUs) [Member] \| Two Thousand Seventeen Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation by share based arrangement equity instruments other than options granted during the period				0		0	0	4,060
Share based compensation by share based arrangement equity instruments other than options non vested outstanding		3,900		3,900		3,930
Common Class B [Member] \| Phantom Share Units (PSUs) [Member] \| Two Thousand Seventeen Stock Plan [Member] \| Other Noncurrent Liabilities [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liabilities for share based compensation		$ 4,300		$ 4,300		$ 3,200	$ 900
Common Class B [Member] \| Phantom Share Units (PSUs) [Member] \| General and Administrative Expense [Member] \| Two Thousand Seventeen Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share based compensation expense		$ 300	$ 100	$ 1,100	$ 100	$ 2,200	$ 600	$ 300

Net Income (Loss) Per Share - Schedule Of Earnings Per Share, Basic and Diluted (Detail) - USD ($)	3 Months Ended				6 Months Ended			12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator
Net income (loss)	$ (17,630,095)	$ 160,624,560	$ (81,470,011)		$ 142,994,465	$ (185,775,870)
Cypress Holdings Inc And Subsidiaries [Member]
Numerator
Net income (loss)	$ 3,816,000			$ (1,961,000)	$ (1,268,000)		$ (27,213,000)	$ (16,876,000)	$ (210,340,000)	$ (55,031,000)
Denominator
Weighted average shares of common stock - basic and diluted								1,480,296	1,478,350	1,478,373
Net loss per share - basic and diluted								$ (11.40)	$ (142.28)	$ (37.22)
Weighted average shares of common stock - basic	1,484,156			1,480,262	1,483,634		1,479,918
Dilutive effect of stock options	$ 53,611,000			$ 0	$ 0		$ 0
Weighted average shares of common stock - diluted	1,537,767			1,480,262	1,483,634		1,479,918
Net income (loss) per share:
Basic	$ 2.57			$ (1.32)	$ (0.85)		$ (18.39)
Diluted	$ 2.48			$ (1.32)	$ (0.85)		$ (18.39)

Net Income (Loss) Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cypress Holdings Inc And Subsidiaries [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from the computation of earnings per share	0	18,081	53,402	17,795	45,905	15,646	26

Segment Information And Information About Geographic Areas - Additional Information (Detail) - Segment	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Cypress Holdings Inc And Subsidiaries [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of operating segments	1	1

Segment Information And Information About Geographic Areas - Schedule of Revenues by Geographic Area (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 166,789	$ 150,716	$ 324,578	$ 309,924	$ 633,063	$ 616,084	$ 569,772
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer By Geographic Area	165,502	148,845	321,487	306,423	626,101	610,591	564,884
China [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from Contract with Customer By Geographic Area	$ 1,287	$ 1,871	$ 3,091	$ 3,501	$ 6,962	$ 5,493	$ 4,888

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Disclosure Of Changes In The Fair Value Of FPA Liability [Line Items]

Segment Information And Information About Geographic Areas - Schedule of Software, Equipment and Property, Net by Geographic Area (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total software, equipment and property-net	$ 108,640	$ 101,438	$ 89,504
Property Plant And Equipment Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total software, equipment and property-net	108,640	101,438
Americas [Member] \| Property Plant And Equipment Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	108,581	101,370	89,450
China [Member] \| Property Plant And Equipment Net [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-Lived Assets	$ 59	$ 68	$ 54

Divestiture - Additional Information (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	1 Months Ended			6 Months Ended	12 Months Ended
	Aug. 31, 2021	Apr. 30, 2021	Jan. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain loss on divestiture of business				$ 3,800	$ 3,800	$ 0	$ 0
General and Administrative Expense [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain loss on divestiture of business					3,800
Asset Purchase Agreement [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration Received On Divestiture					3,800
Proceeds from divestiture of business		$ 400	$ 1,800
Contingent consideration included in consideration received					$ 1,800
Asset Purchase Agreement [Member] \| Subsequent Event [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of business	$ 700		$ 1,800

Fair Value Measurements - Summary of Company's Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Recurring - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Level 1
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets – Assets Held in Trust Account	$ 690,021,942	$ 0
Warrant Liability – Public Warrants	27,738,000	59,064,000
Level 2
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
FPA Liablity	6,830,624	69,874,782
Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrant Liability – Private Placement Warrants	34,486,796	90,856,186
FPA Liablity		69,874,782
Level 3 \| Conversion Option On Working Capital Loan [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrant Liability – Conversion option on working capital loan	$ 2,365,417	$ 0

Fair Value Measurements - Summary of Changes in the Fair Value of Warrant Liabilities (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Fair value as of January 1, 2021		$ 149,920,186
Initial measurement on August 18 ,2020		8,480,557
Change in valuation inputs or other assumptions	$ 14,706,065	(87,695,390)	$ 106,714,978
Fair value as of June 30, 2021	62,224,796	62,224,796	149,920,186
Private Placement \| Level 3
Fair value as of January 1, 2021		90,856,186	0
Initial measurement on August 18 ,2020			22,792,602
Change in valuation inputs or other assumptions		(56,369,390)	68,063,584
Fair value as of June 30, 2021	$ 34,486,796	34,486,796	90,856,186
Public \| Level 3
Fair value as of January 1, 2021		59,064,000	0
Initial measurement on August 18 ,2020			20,412,606
Change in valuation inputs or other assumptions			38,651,394
Fair value as of June 30, 2021			59,064,000
Warrant Liabilities \| Level 3
Fair value as of January 1, 2021		$ 149,920,186	0
Initial measurement on August 18 ,2020			43,205,208
Change in valuation inputs or other assumptions			106,714,978
Fair value as of June 30, 2021			$ 149,920,186

Fair Value Measurements - Summary Of Changes In The Fair Value Of FPA Conversion Option Liabilities (Detail)	6 Months Ended
	Jun. 30, 2021 USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value as of January 1, 2021	$ 0
Initial classification of conversion option liability	8,480,557
Change in fair value	(6,115,140)
Fair value as of June 30, 2021	$ 2,365,417

Fair Value Measurements - Summary of the Changes in the Fair Value of the FPA Liability (Detail) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Change in fair value of FPA liability

$ (186,812)

$ (63,044,158)

$ 69,874,782

Fair Value, Recurring [Member] | Level 3

Disclosure Of Changes In The Fair Value Of FPA Liability [Line Items]

Fair value as of January 1, 2021

69,874,782

Change in fair value of FPA liability

^[1]

69,874,782

Fair value as of June 30, 2021

69,874,782

Fair Value, Recurring [Member] | Level 2

Disclosure Of Changes In The Fair Value Of FPA Liability [Line Items]

Fair value as of January 1, 2021

69,874,782

Change in fair value of FPA liability

(63,044,158)

Fair value as of June 30, 2021

$ 6,830,624

$ 69,874,782

[1]	Represents the non-cash loss on change in valuation of the FPA liability and is included in loss on change in fair value of FPA liability on the statement of operations.

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held to maturity securities			$ 0	$ 0
Fair Value, Net Derivative Asset (Liability) Period Increase (Decrease)		$ 175,000,000	$ 175,000,000
Percentage of probability on initial business combination			95.00%	95.00%
Cypress Holdings Inc And Subsidiaries [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	$ 11,993,000	11,993,000	$ 18,359,000	$ 18,359,000		$ 5,110,000
Cypress Holdings Inc And Subsidiaries [Member] \| Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges	0	0		0	$ 0
Cypress Holdings Inc And Subsidiaries [Member] \| Interest Rate Swap [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	12,000,000.0	12,000,000.0	18,400,000	18,400,000		5,100,000
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Adjusted net assets method utilized		175,000,000	175,000,000
Level 2 \| Cypress Holdings Inc And Subsidiaries [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	11,993,000	11,993,000	18,359,000	18,359,000		$ 5,110,000
Cash [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in trust account			$ 690,000,000	$ 690,000,000
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in trust account	$ 690,021,942	$ 690,021,942

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Liabilities
Interest rate swaps	$ 11,993	$ 18,359	$ 5,110
Total	11,993	18,359	5,110
Level 1
Liabilities
Interest rate swaps	0	0	0
Total	0	0	0
Level 2
Liabilities
Interest rate swaps	11,993	18,359	5,110
Total	11,993	18,359	5,110
Level 3
Liabilities
Interest rate swaps	0	0	0
Total	$ 0	$ 0	$ 0

Fair Value Measurements - Summary of Carrying Amounts and Estimated Fair Value of the Financial Instruments (Detail) - Cypress Holdings Inc And Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term Debt		$ 1,336,154
First Lien Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 1,313,620	1,317,978	$ 957,175
First Lien Term Loan [Member] \| Carrying Amount [Member]
Debt Instrument [Line Items]
Long-term Debt	1,326,835	1,333,366	973,386
First Lien Term Loan [Member] \| Estimated Fair Value [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 1,328,228	1,332,433	979,470
Second Lien Term Loan [Member]
Debt Instrument [Line Items]
Long-term Debt			366,337
Second Lien Term Loan [Member] \| Carrying Amount [Member]
Debt Instrument [Line Items]
Long-term Debt		0	372,920
Second Lien Term Loan [Member] \| Estimated Fair Value [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 0	$ 375,344