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Goodwill and Intangible Assets - Changes in Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Changes in goodwill
Balance at the beginning of the period	$ 88,974
Foreign currency translation adjustment	(807)
Balance at the end of the period	$ 88,167

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 311,157	$ 303,261
Accounts receivable, net of allowance of $3,608 and $3,579	48,744	47,016
Prepaid expenses and other current assets	26,590	26,703
Total current assets	386,491	376,980
Property and equipment, net	54,240	58,834
Right-of-use assets	42,097	45,453
Intangible assets, net	25,182	26,669
Goodwill	88,167	88,974
Deferred tax assets, net	13,727	14,387
Other assets	16,427	19,215
Total assets	626,331	630,512
Current liabilities:
Accounts payable	4,504	6,104
Accrued expenses	51,554	53,864
Contributor royalties payable	24,248	25,193
Deferred revenue	138,229	141,922
Other current liabilities	10,347	18,811
Total current liabilities	228,882	245,894
Lease liabilities	44,280	47,313
Other non-current liabilities	9,669	9,160
Total liabilities	282,831	302,367
Commitments and contingencies (Note 12)
Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 38,245 and 38,055 shares issued and 35,687 and 35,497 shares outstanding as of June 30, 2020 and December 31, 2019, respectively	382	381
Treasury stock, at cost; 2,558 shares as of June 30, 2020 and December 31, 2019	(100,027)	(100,027)
Additional paid-in capital	319,412	312,824
Accumulated comprehensive loss	(8,414)	(6,220)
Retained earnings	132,147	121,187
Total stockholders’ equity	343,500	328,145
Total liabilities and stockholders’ equity	$ 626,331	$ 630,512

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 18,987	$ 3,299	$ 23,305	$ 10,821
Foreign currency translation gain / (loss)	254	(1,027)	(2,194)	(982)
Other comprehensive gain / (loss)	254	(1,027)	(2,194)	(982)
Comprehensive income	$ 19,241	$ 2,272	$ 21,111	$ 9,839

- Definition

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

+ References + Details

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 23,305	$ 10,821
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	21,370	25,319
Deferred taxes	693	(1,312)
Non-cash equity-based compensation	9,396	12,375
Bad debt expense	1,086	(635)
Changes in operating assets and liabilities:
Accounts receivable	(3,279)	(2,746)
Prepaid expenses and other current and non-current assets	49	1,944
Accounts payable and other current and non-current liabilities	(4,045)	1,899
Long-term incentives related to acquisitions	(7,759)	0
Contributor royalties payable	(840)	1,059
Deferred revenue	(3,633)	(1,981)
Net cash provided by operating activities	36,343	46,743
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(13,966)	(13,726)
Proceeds from sale of Webdam, net	0	2,500
Acquisition of content	(1,577)	(1,277)
Security deposit release	105	25
Net cash used in investing activities	(15,438)	(12,478)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of stock options	629	218
Cash paid related to settlement of employee taxes related to RSU vesting	(3,436)	(5,181)
Payment of cash dividend	(12,098)	0
Net cash used in financing activities	(14,905)	(4,963)
Effect of foreign exchange rate changes on cash	(717)	(1,085)
Net increase in cash, cash equivalents and restricted cash	5,283	28,217
Cash, cash equivalents and restricted cash, beginning of period	305,874	233,465
Cash, cash equivalents and restricted cash, end of period	311,157	261,682
Supplemental Disclosure of Cash Information:
Cash paid for income taxes	$ 927	$ 1,480

Revenue

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

The Company distributes its content offerings through two primary channels:

E-commerce: The majority of the Company’s customers license content directly through the Company’s self-service web properties. E-commerce customers have the flexibility to purchase a subscription plan that is paid on a monthly or annual basis or to license content on a transactional basis. These customers generally license content under the Company’s standard or enhanced licenses, with additional licensing options available to meet customers’ individual needs. E-commerce customers typically pay the full amount of the purchase price in advance or at the time of license, generally with a credit card.

Enterprise: The Company also has a base of customers with unique content, licensing and workflow needs. These customers benefit from communication with dedicated sales professionals, service and research teams which provide a number of tailored enhancements to their creative workflows including non-standard licensing rights, multi-seat access, ability to pay on credit terms, multi-brand licensing packages, increased indemnification protection and content licensed for use-cases outside of those available on the E-commerce platform.

The Company’s revenues by distribution channel for the three and six months ended June 30, 2020 and 2019 are as follows (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
E-commerce	$	98,164	$	96,993	$	197,900	$	195,106
Enterprise	61,066		64,748		122,615		129,967

Total Revenues	$	159,230	$	161,741	$	320,515	$	325,073

The June 30, 2020 deferred revenue balance will be earned as content is downloaded or upon the expiration of subscription-based products, and nearly all is expected to be earned within the next twelve months. $91.0 million of total revenue recognized for the six months ended June 30, 2020 was reflected in deferred revenue as of December 31, 2019.

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in goodwill

The following table summarizes the changes in the Company’s goodwill balance during the six months ended June 30, 2020 (in thousands):


	Goodwill
Balance as of December 31, 2019	$	88,974

Foreign currency translation adjustment	(807)

Balance as of June 30, 2020	$	88,167

Schedule of intangible assets

Intangible assets consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands):


	As of June 30, 2020							As of December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Weighted Average Life (Years)	Gross Carrying Amount		Accumulated Amortization
Amortizing intangible assets:
Customer relationships	$	16,982	$	(9,648)	9	$	17,729	$	(9,294)
Trade name	6,237		(5,778)		7	6,517		(5,941)
Developed technology	4,677		(4,368)		4	4,841		(4,226)
Contributor content	24,812		(7,883)		9	23,510		(6,626)

Patents	259		(108)		18	259		(100)

Total	$	52,967	$	(27,785)		$	52,856	$	(26,187)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income	$ 18,987	$ 3,299	$ 23,305	$ 10,821
Shares used to compute basic net income per share (in shares)	35,652	35,232	35,587	35,174
Dilutive potential common shares
Stock options (in shares)	39	102	53	104
Unvested restricted stock awards (in shares)	215	170	254	221
Shares used to compute diluted net income per share (in shares)	35,906	35,504	35,894	35,499
Basic net income per share (in dollars per share)	$ 0.53	$ 0.09	$ 0.65	$ 0.31
Diluted net income per share (in dollars per share)	$ 0.53	$ 0.09	$ 0.65	$ 0.30
Dilutive securities included in the calculation (in shares)	1,304	1,005	1,080	992
Anti-dilutive securities excluded from the calculation (in shares)	1,152	1,206	1,148	1,171

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Summary of property and equipment

Property and equipment is summarized as follows (in thousands):


	As of June 30, 2020		As of December 31, 2019
Computer equipment and software	$	179,580	$	165,950
Furniture and fixtures	10,211		10,199
Leasehold improvements	19,260		19,203
Property and equipment	209,051		195,352
Less accumulated depreciation	(154,811)		(136,518)
Property and equipment, net	$	54,240	$	58,834

Commitments and Contingencies - Narrative (Details)	Jun. 30, 2020 USD ($)
Other Commitments [Line Items]
Other obligations	$ 39,200,000
Maturity of unconditional purchase obligations
Remainder of 2020	18,200,000
2021	16,500,000
2022	4,400,000
Indemnifications
Maximum aggregate obligation and liability for customer	250,000
Material indemnification obligation	0
Indemnification Agreement
Indemnifications
Maximum possible loss per customer	$ 10,000

Net Income Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Net Income Per Share

Basic net income per share is computed using the weighted average number of shares of common stock outstanding for the period, excluding unvested RSUs and stock options. Diluted net income per share is based upon the weighted average shares of common stock outstanding for the period plus dilutive potential shares of common stock, including unvested RSUs and stock options using the treasury stock method.

The following table sets forth the computation of basic and diluted net income per share for the three and six months ended June 30, 2020 and 2019 (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net income	$	18,987	$	3,299	$	23,305	$	10,821
Shares used to compute basic net income per share	35,652		35,232		35,587		35,174
Dilutive potential common shares
Stock options	39		102		53		104
Unvested restricted stock awards	215		170		254		221

Shares used to compute diluted net income per share	35,906		35,504		35,894		35,499
Basic net income per share	$	0.53	$	0.09	$	0.65	$	0.31
Diluted net income per share	$	0.53	$	0.09	$	0.65	$	0.30

Dilutive shares included in the calculation	1,304		1,005		1,080		992
Anti-dilutive shares excluded from the calculation	1,152		1,206		1,148		1,171

Label	Element	Value
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 327,898,000
AOCI Attributable to Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ (6,220,000)
Treasury Stock [Member]
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	2,558,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ (100,027,000)
Common Stock [Member]
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	38,055,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 381,000
Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	312,824,000
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 120,940,000

Accrued Expenses

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	As of June 30, 2020		As of December 31, 2019
Compensation	$	18,902	$	20,776
Non-income taxes	16,316		15,332

Website hosting and marketing fees	8,343		8,657



Other expenses	7,993		9,099
Total accrued expenses	$	51,554	$	53,864

Summary of Operations and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all information and footnotes required by GAAP for complete financial statements.
Unaudited Interim Financial Statements	The interim Consolidated Balance Sheet as of June 30, 2020, and the Consolidated Statements of Operations, Comprehensive Income and Stockholders’ Equity for the three and six months ended June 30, 2020 and 2019, and the Consolidated Statements of Cash Flows for the six months ended June 30, 2020 and 2019, are unaudited. The Consolidated Balance Sheet as of December 31, 2019, included herein, was derived from the audited financial statements as of that date, but does not include all disclosures required by GAAP. These unaudited interim financial statements have been prepared on a basis consistent with the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, which include all normal recurring adjustments necessary to fairly state the Company’s financial position as of June 30, 2020, and its consolidated results of operations, comprehensive income, stockholders’ equity for the three and six months ended June 30, 2020 and 2019, and its cash flows for the six months ended June 30, 2020 and 2019. The financial data and the other financial information disclosed in the notes to the financial statements related to these periods are also unaudited. The results of operations for the six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2020 or for any other future annual or interim period.These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K, which was filed with the SEC on February 13, 2020. The unaudited consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain immaterial changes in presentation have been made to conform the prior period presentation to current period reporting.
Use of Estimates	Use of EstimatesThe preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements. Actual results could differ from those estimates. Such estimates include, but are not limited to, the determination of the allowance for doubtful accounts, the volume of expected unused licenses for our subscription-based products, the assessment of recoverability of property and equipment, the fair value of acquired goodwill and intangible assets, the grant-date fair value of non-cash equity-based compensation, the assessment of recoverability of deferred tax assets, the measurement of income tax and contingent non-income tax liabilities and the determination of the incremental borrowing rate used to calculate the lease liability.
Cash, Cash Equivalents and Restricted Cash	The Company’s cash and cash equivalents consist of cash on hand and bank deposits. These assets are stated at cost, which approximates fair value. As of March 31, 2020, the Company was no longer required to provide cash collateral for its letter of credit for its New York City headquarters, and, accordingly, these funds are no longer restricted.
Allowance for Doubtful Accounts	Allowance for Doubtful AccountsThe Company’s accounts receivable consists of customer obligations due under normal trade terms, carried at their face value less an allowance for doubtful accounts, if required. The Company determines its allowance for doubtful accounts based on an evaluation of the aging of its accounts receivable and on a customer-by-customer basis where appropriate. The Company’s reserve analysis contemplates the Company’s historical loss rate on receivables, specific customer situations and the economic environments in which the Company operates.
Chargeback and Sales Refund Allowance and Revenue Recognition	Chargeback and Sales Refund Allowance The Company establishes a chargeback allowance and sales refund reserve allowance based on factors surrounding historical credit card chargeback trends, historical sales refund trends and other information. As of June 30, 2020 and December 31, 2019, the Company’s combined allowance for chargebacks and sales refunds was $0.4 million, which was included as a component of other current liabilities on the Consolidated Balance Sheets. Revenue Recognition The majority of the Company’s revenue is earned from the license of content. Content licenses are generally purchased on a monthly or annual basis, whereby a customer pays for a predetermined quantity of content that may be downloaded over a specific period of time, or, on a transactional basis, whereby a customer pays for individual content licenses at the time of download. The Company recognizes revenue upon the satisfaction of performance obligations, which generally occurs when content is downloaded by a customer. The Company recognizes revenue on both its subscription-based and transaction-based products when content is downloaded, at which time the license is provided. In addition, management estimates expected unused licenses for subscription-based products and recognizes the estimated revenue associated with the unused licenses as digital content is downloaded and licenses are obtained for such content by the customer during the subscription period. The estimate of unused licenses is based on historical download activity and future changes in the estimate could impact the timing of revenue recognition of the Company’s subscription products. The Company expenses contract acquisition costs as incurred, to the extent that the amortization period would otherwise be one year or less. Collectability is reasonably assured at the time the electronic order or contract is entered. The majority of the Company’s customers purchase products by making an electronic payment with a credit card at the time of a transaction. Customer payments received in advance of revenue recognition are contract liabilities and are recorded as deferred revenue. Customers that do not pay in advance are invoiced and are required to make payments under standard credit terms. Collectability for customers who pay on credit terms allowing for payment beyond the date at which service commences is based on a credit evaluation for certain new customers and transaction history with existing customers. The Company recognizes revenue gross of contributor royalties because the Company is the principal in the transaction as it is the party responsible for the performance obligation and it controls the product or service before transferring it to the customer. The Company also licenses content to customers through third-party resellers. Third-party resellers sell the Company’s products directly to customers as the principal in those transactions. Accordingly, the Company recognizes revenue net of costs paid to resellers.
Recently Adopted and Issued Accounting Standard Updates	Recently Adopted Accounting Standard Updates In June 2016, the FASB issued ASU 2016-13, which as amended, replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses. The ASU is intended to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. Adoption of this guidance was required, prospectively, for annual periods beginning after December 15, 2019, with early adoption permitted for annual periods beginning after December 15, 2018. The Company adopted ASU 2016-13, as amended, effective January 1, 2020 using the modified retrospective method and recorded a cumulative-effect adjustment of $0.2 million, net of tax, in retained earnings as of January 1, 2020. In August 2018, the FASB issued ASU 2018-13, Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements (“ASU 2018-13”), which eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of the FASB’s disclosure framework project. Adoption of this guidance was required for fiscal years and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted ASU 2018-13, effective January 1, 2020. The impact of adoption of this standard on the consolidated financial statements, including accounting policies, processes and systems, was not material. In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting For Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”), which aligns the requirements for capitalizing implementation costs in a cloud computing arrangement with the requirements for capitalizing implementation costs incurred for an internal-use software license. Adoption of this guidance was required for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years and early adoption is permitted. Entities are permitted to choose to adopt the new guidance (1) prospectively for eligible costs incurred on or after the date this guidance is first applied or (2) retrospectively. The Company adopted ASU 2018-15 on a prospective basis, effective January 1, 2020. The adoption of this standard is not expected to have a significant impact on our consolidated financial statements. Recently Issued Accounting Standard Updates In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes (“ASU-2019-12”). ASU 2019-12 eliminates certain exceptions to the guidance in Topic 740 related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes, enacted changes in tax laws or rates and clarifies the accounting transactions that result in a step-up in the tax basis of goodwill. The guidance is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. We are currently in the process of evaluating the effect that ASU 2019-12 will have on the Company's Consolidated Financial Statements.

Stockholders’ Equity and Equity-Based Compensation

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Stockholders’ Equity and Equity-Based Compensation

Stockholders’ Equity

Common Stock

The Company issued approximately 126,000 and 57,000 shares of common stock during the three months ended June 30, 2020 and 2019, respectively, and 190,000 and 198,000 for the six months ended June 30, 2020 and 2019, respectively, primarily related to the exercise of stock options and the vesting of Restricted Stock Units (“RSUs”).

Treasury Stock

In October 2015, the Company’s Board of Directors approved a share repurchase program, authorizing the Company to purchase up to $100 million of its common stock. In February 2017, the Company’s Board of Directors approved an increase to the share repurchase program, authorizing the Company to repurchase up to an additional $100 million of its outstanding common stock. During the six months ended June 30, 2020 and 2019, the Company did not repurchase any shares of its common stock under the share repurchase program. As of June 30, 2020, the Company had $100 million of remaining authorization for purchases under the share repurchase program.

The Company expects to fund future repurchases, if any, through a combination of cash on hand, cash generated by operations and future financing transactions, if appropriate. Accordingly, the share repurchase program is subject to the Company having available cash to fund repurchases. Under the share repurchase program, management is authorized to purchase shares of the Company’s common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements, and subject to market conditions and other factors.

Dividends

The Company declared and paid cash dividends of $0.17 and $0.34 per share of common stock, or $6.1 million and $12.1 million, during the three and six months ended June 30, 2020.

On July 20, 2020, the Company’s Board of Directors declared a quarterly cash dividend of $0.17 per share of outstanding common stock payable on September 17, 2020 to stockholders of record at the close of business on September 3, 2020. Future declaration of dividends are subject to the final determination of the Board of Directors, and will depend on, among other things, the Company’s future financial condition, results of operations, capital requirements, capital expenditure requirements, contractual restrictions, anticipated cash needs, business prospects, provisions of applicable law and other factors the Board of Directors may deem relevant.

Equity-Based Compensation

The Company recognizes stock-based compensation expense for all equity-based payment awards, including employee stock options and RSUs granted under the Company’s Amended and Restated 2012 Omnibus Equity Incentive Plan (the “2012 Plan”), based on the fair value of each award on the grant date.

The following table summarizes non-cash equity-based compensation expense, net of forfeitures, by financial statement line item included in the accompanying Consolidated Statements of Operations for the three and six months ended June 30, 2020 and 2019 (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Cost of revenue	$	99	$	105	$	150	$	190
Sales and marketing	374		675		834		1,257
Product development	1,068		1,252		2,193		2,427
General and administrative	2,095		5,719		6,219		8,501
Total	$	3,636	$	7,751	$	9,396	$	12,375

The following table summarizes non-cash equity-based compensation expense, net of forfeitures, by award type included in the accompanying Consolidated Statements of Operations for the three and six months ended June 30, 2020 and 2019 (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Stock options	$	414	$	2,176	$	1,730	$	3,067
RSUs	3,222		5,575		7,666		9,308



Total	$	3,636	$	7,751	$	9,396	$	12,375

Stock Option Awards

During the six months ended June 30, 2020, the Company granted 53,000 options to purchase shares of its common stock with a weighted average exercise price of $42.96. As of June 30, 2020, there were approximately 338,000 options vested and exercisable with a weighted average exercise price of $34.59. As of June 30, 2020, the total unrecognized compensation charge related to non-vested options was approximately $2.0 million, which is expected to be recognized through 2023.

Restricted Stock Unit Awards

During the six months ended June 30, 2020, the Company had RSU grants, net of forfeitures, of approximately 292,000. As of June 30, 2020, there are approximately 1,139,000 non-vested RSUs (including performance-based restricted stock units, or PRSUs) outstanding with a weighted average grant-date fair value of $39.83. As of June 30, 2020, the total unrecognized non-cash equity-based compensation charge related to the non-vested RSUs was approximately $26.6 million, which is expected to be recognized through 2023.

During the six months ended June 30, 2020, shares of common stock with an aggregate value of $3.4 million were withheld upon vesting of RSUs and paid in connection with related remittance of employee withholding taxes to taxing authorities.

On July 20, 2020, the Company granted approximately 332,000 PRSUs with a grant date fair value of $12.7 million.

Stockholders’ Equity and Equity-Based Compensation - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jul. 20, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Feb. 28, 2017	Oct. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)		126,000	57,000
Payment of cash dividend (in dollars per share)		$ 0.17		$ 0.34
Cash dividend paid		$ 6,100,000		$ 12,100,000
Value of shares withheld				$ 3,436,000	$ 5,181,000
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly cash dividend, declared (in usd per share)	$ 0.17
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)				190,000	198,000
Authorized purchase amount (up to)						$ 100,000,000	$ 100,000,000
Value remaining for repurchase		$ 100,000,000		$ 100,000,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)				53,000
Options granted, weighted average exercise price (in dollars per share)				$ 42.96
Options vested and exercisable (in shares)		338,000		338,000
Options vested and exercisable, weighted average exercise price (in dollars per share)		$ 34.59		$ 34.59
Unrecognized compensation charge		$ 2,000,000.0		$ 2,000,000.0
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)				292,000
Weighted average grant-date fair value (in usd per share)		$ 39.83		$ 39.83
Nonvested shares outstanding (in shares)		1,139,000		1,139,000
Unrecognized non-cash equity-based compensation charge		$ 26,600,000		$ 26,600,000
Value of shares withheld				$ 3,400,000
Performance Restricted Stock Units (PRSUs) [Member] \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	332,000
Grant date fair value	$ 12,700,000

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property and Equipment
Property and equipment	$ 209,051		$ 209,051		$ 195,352
Less accumulated depreciation	(154,811)		(154,811)		(136,518)
Property and equipment, net	54,240		54,240		58,834
Depreciation expense	9,600	$ 10,500	18,900	$ 21,100
Capitalized amount	6,500	5,800	13,100	12,300
Amortization expense	7,800	7,500	14,900	14,800
Internal use software	39,900		39,900		41,800
Computer equipment and software
Property and Equipment
Property and equipment	179,580		179,580		165,950
Furniture and fixtures
Property and Equipment
Property and equipment	10,211		10,211		10,199
Leasehold improvements
Property and Equipment
Property and equipment	19,260		19,260		$ 19,203
Cost of revenue
Property and Equipment
Depreciation expense	8,600	9,300	16,800	18,600
Selling, General and Administrative Expenses
Property and Equipment
Depreciation expense	$ 1,000	$ 1,200	$ 2,100	$ 2,500

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 159,230	$ 161,741	$ 320,515	$ 325,073
Disposal group deferred revenue			91,000
E-commerce
Segment Reporting Information [Line Items]
Total revenue	98,164	96,993	197,900	195,106
Enterprise
Segment Reporting Information [Line Items]
Total revenue	$ 61,066	$ 64,748	$ 122,615	$ 129,967

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2020	Jul. 24, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-35669
Entity Registrant Name	SHUTTERSTOCK, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0812659
Entity Address, Address Line One	350 Fifth Avenue, 21st Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10118
City Area Code	646
Local Phone Number	710-3417
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	SSTK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,695,665
Entity Central Index Key	0001549346
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

Summary of Operations and Significant Accounting Policies (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Bad debt expense	$ 1,086	$ (635)
Allowance for doubtful accounts	3,608			$ 3,579
Chargeback and sales refund allowances	$ 400			$ 400
Cumulative-effect adjustment			$ (247)
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment			(247)
Accounting Standards Update 2016-13 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment			$ (200)

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of June 30, 2020, the Company had total non-lease obligations in the amount of approximately $39.2 million, which consisted primarily of minimum royalty guarantees and unconditional purchase obligations related to contracts for infrastructure and other business services. As of June 30, 2020, the Company’s non-lease obligations for the remainder of 2020 and for the years ending December 31, 2021 and 2022 were approximately $18.2 million, $16.5 million and $4.4 million, respectively. Legal Matters From time to time, the Company may become party to litigation in the ordinary course of business, including direct claims brought by or against the Company with respect to intellectual property, contracts, employment and other matters, as well as claims brought against the Company’s customers for whom the Company has a contractual indemnification obligation. The Company assesses the likelihood of any adverse judgments or outcomes with respect to these matters and determines loss contingency assessments on a gross basis after assessing the probability of incurrence of a loss and whether a loss is reasonably estimable. In addition, the Company considers other relevant factors that could impact its ability to reasonably estimate a loss. A determination of the amount of reserves required, if any, for these contingencies is made after analyzing each matter. The Company reviews reserves, if any, at least quarterly and may change the amount of any such reserve in the future due to new developments or changes in strategy in handling these matters. Although the results of litigation and threats of litigation, investigations and claims cannot be predicted with certainty, the Company currently believes that the final outcome of these matters will not have a material adverse effect on its business, consolidated financial position, results of operations, or cash flows. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources and other factors. The Company currently has no material active litigation matters and, accordingly, no material reserves related to litigation. Indemnification and Employment Agreements In the ordinary course of business, the Company enters into contractual arrangements under which it agrees to provide indemnification of varying scope and terms to customers with respect to certain matters, including, but not limited to, losses arising out of the breach of the Company’s intellectual property warranties for damages to the customer directly attributable to the Company’s breach. The Company is not responsible for any damages, costs, or losses to the extent such damages, costs or losses arise as a result of any modifications made by the customer, or the context in which content is used. The standard maximum aggregate obligation and liability to any one customer for any single claim is generally limited to ten thousand dollars but can range to $250,000, with certain exceptions for which our indemnification obligation are uncapped. As of June 30, 2020, the Company had recorded no material liabilities related to indemnification obligations for loss contingencies. Additionally, the Company believes that it has the appropriate insurance coverage in place to adequately cover such indemnification obligations, if necessary. Pursuant to the Company’s charter documents and separate written indemnification agreements, the Company has certain indemnification obligations to its executive officers, certain employees and directors, as well as certain former officers and directors. The Company has also entered into employment agreements with its executive officers and certain employees. These agreements specify various employment-related matters, including annual compensation, performance incentive bonuses, and severance benefits in the event of termination in the event of a change in control or otherwise, with or without cause.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 3,608	$ 3,579
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	38,245,000	38,055,000
Common stock, shares outstanding (in shares)	35,687,000	35,497,000
Treasury stock, shares held in treasury (in shares)	2,558,000	2,558,000

Consolidated Statements of Stockholders' Equity (unaudited) (Parenthetical) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Payment of cash dividend (in dollars per share)	$ 0.17	$ 0.34

Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Compensation	$ 18,902	$ 20,776
Non-income taxes	16,316	15,332
Website hosting and marketing fees	8,343	8,657
Other expenses	7,993	9,099
Total accrued expenses	$ 51,554	$ 53,864

Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Schedule of accrued expenses

Accrued expenses consisted of the following (in thousands):


	As of June 30, 2020		As of December 31, 2019
Compensation	$	18,902	$	20,776
Non-income taxes	16,316		15,332

Website hosting and marketing fees	8,343		8,657



Other expenses	7,993		9,099
Total accrued expenses	$	51,554	$	53,864

Fair Value Measurements and Other Long-term Investments (Details) - Variable Interest Entity, Not Primary Beneficiary - Zcool Network Technology Limited - USD ($) $ in Millions	Jan. 04, 2018	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Variable interest investment		$ 15.0	$ 15.0
Convertible Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment value	$ 15.0
Equity ownership percent	25.00%

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rates yielded a net expense of 16.3% and 9.7% for the three months ended June 30, 2020 and 2019, respectively, and a net expense of 19.6% and 14.5% for the six months ended June 30, 2020 and 2019, respectively. During the three months ended June 30, 2020, the net effect of discrete items decreased the effective tax rate by 0.3%. For the six months ended June 30, 2020, the effective tax rate increased by 1.6% as a result of a loss jurisdiction with no tax benefit. Discrete items further increased the effective tax rate by 1.4%. Excluding the discrete items, our effective tax rate would have been 16.6% for the three and six months ended June 30, 2020. In the three and six months ended June 30, 2019, the impact of discrete tax items decreased the effective tax rate by 3.4% and 1.8%, respectively. The Company has computed the provision for income taxes based on the estimated annual effective tax rate excluding a loss jurisdiction with no tax benefit and the application of discrete items, if any, in the applicable period. The estimated annual effective tax rate differs from the statutory tax rate due primarily to the effect of the foreign-derived intangible income deduction and the U.S. Research and Development tax credit. During the three and six months ended June 30, 2020 and during the three months ended June 30, 2019, uncertain tax positions recorded by the Company were not significant. During the six months ended June 30, 2019, uncertain tax positions recorded by the Company resulted in an expense of $1.0 million. To the extent the remaining uncertain tax positions are ultimately recognized, the Company’s effective tax rate may be impacted in future periods. The Company recognizes interest expense and tax penalties related to unrecognized tax benefits in income tax expense in the Consolidated Statements of Operations. The Company’s accrual for interest and penalties related to unrecognized tax benefits was not significant for the three and six months ended June 30, 2020 and 2019. During the six months ended June 30, 2020 and 2019, the Company paid net cash taxes of $0.9 million and $1.5 million, respectively.

Stockholders’ Equity and Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Summary of non-cash equity-based compensation expense included in the Company's statement of operations


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Cost of revenue	$	99	$	105	$	150	$	190
Sales and marketing	374		675		834		1,257
Product development	1,068		1,252		2,193		2,427
General and administrative	2,095		5,719		6,219		8,501
Total	$	3,636	$	7,751	$	9,396	$	12,375


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Stock options	$	414	$	2,176	$	1,730	$	3,067
RSUs	3,222		5,575		7,666		9,308



Total	$	3,636	$	7,751	$	9,396	$	12,375

Other Income / (Expense), net

6 Months Ended

Jun. 30, 2020

Other Nonoperating Income (Expense) [Abstract]

Other Income / (Expense), net

Other Income, net

The following table presents a summary of the Company’s other income and expense activity included in the accompanying Consolidated Statements of Operations for the three and six months ended June 30, 2020 and 2019 (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Foreign currency gain / (loss)	$	132	$	(569)	$	(466)	$	(730)



Interest income	17		1,153		1,128		2,210
Total other income	$	149	$	584	$	662	$	1,480

Summary of Operations and Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Schedule of Restricted Cash

The following represents the Company’s cash and cash equivalents and restricted cash balances as of June 30, 2020 and December 31, 2019 (in thousands):


	As of June 30, 2020		As of December 31, 2019
Cash and cash equivalents	$	311,157	$	303,261
Restricted cash	—		2,613
Total cash, cash equivalents and restricted cash	$	311,157	$	305,874

Schedule of Cash and Cash Equivalents

The following represents the Company’s cash and cash equivalents and restricted cash balances as of June 30, 2020 and December 31, 2019 (in thousands):


	As of June 30, 2020		As of December 31, 2019
Cash and cash equivalents	$	311,157	$	303,261
Restricted cash	—		2,613
Total cash, cash equivalents and restricted cash	$	311,157	$	305,874

Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 159,230	$ 161,741	$ 320,515	$ 325,073
Operating expenses:
Cost of revenue	63,811	68,526	132,934	137,744
Sales and marketing	35,557	44,488	78,217	88,934
Product development	12,485	13,594	25,554	28,580
General and administrative	24,832	32,063	55,484	58,646
Total operating expenses	136,685	158,671	292,189	313,904
Income from operations	22,545	3,070	28,326	11,169
Other income, net	149	584	662	1,480
Income before income taxes	22,694	3,654	28,988	12,649
Provision for income taxes	3,707	355	5,683	1,828
Net income	$ 18,987	$ 3,299	$ 23,305	$ 10,821
Earnings per share:
Basic (in dollars per share)	$ 0.53	$ 0.09	$ 0.65	$ 0.31
Diluted (in dollars per share)	$ 0.53	$ 0.09	$ 0.65	$ 0.30
Weighted average shares outstanding:
Basic (in shares)	35,652	35,232	35,587	35,174
Diluted (in shares)	35,906	35,504	35,894	35,499

Geographic Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Geographic Information

The following table presents the Company’s revenue based on customer location (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
North America	$	56,211	$	57,657	$	113,229	$	115,171
Europe	52,207		53,647		106,003		109,132
Rest of the world	50,812		50,437		101,283		100,770
Total revenue	$	159,230	$	161,741	$	320,515	$	325,073

The United States, included in North America in the above table, accounted for 32% of consolidated revenue for the six months ended June 30, 2020 and 2019. No other country accounts for more than 10% of the Company’s revenue in any period presented.

The Company’s long-lived tangible assets were located as follows (in thousands):


	As of June 30,		As of December 31,
	2020		2019
North America	$	47,361	$	51,954
Europe	6,557		6,541
Rest of the world	322		339
Total long-lived tangible assets	$	54,240	$	58,834

The United States, included in North America in the above table, accounted for 77% and 79% of total long-lived tangible assets as of June 30, 2020 and December 31, 2019, respectively. No other country accounts for more than 10% of the Company’s long-lived tangible assets in any period presented.

Other Income / (Expense), net (Tables)

6 Months Ended

Jun. 30, 2020

Other Nonoperating Income (Expense) [Abstract]

Summary of the Company's other (expense) income, net activity


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Foreign currency gain / (loss)	$	132	$	(569)	$	(466)	$	(730)



Interest income	17		1,153		1,128		2,210
Total other income	$	149	$	584	$	662	$	1,480

Summary of Operations and Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Summary of Operations and Significant Accounting Policies

Summary of Operations

Shutterstock (the “Company” or “Shutterstock”) is a global technology company offering a creative platform, which provides high-quality content, tools and services to creative professionals. The content licensed by the Company’s customers includes:

•Images - consisting of photographs, vectors and illustrations. Images are typically used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications and other similar uses.

•Footage - consisting of video clips, premium footage filmed by industry experts and cinema grade video effects, available in HD and 4K formats. Footage is often integrated into websites, social media, marketing campaigns and cinematic productions.

•Music - consisting of high-quality music tracks and sound effects, which are often used to complement images and footage.

The Company licenses content to its customers. Contributors upload their content to the Company’s web properties in exchange for royalty payments based on customer download activity.

Basis of Presentation

The unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all information and footnotes required by GAAP for complete financial statements.

The interim Consolidated Balance Sheet as of June 30, 2020, and the Consolidated Statements of Operations, Comprehensive Income and Stockholders’ Equity for the three and six months ended June 30, 2020 and 2019, and the Consolidated Statements of Cash Flows for the six months ended June 30, 2020 and 2019, are unaudited. The Consolidated Balance Sheet as of December 31, 2019, included herein, was derived from the audited financial statements as of that date, but does not include all disclosures required by GAAP. These unaudited interim financial statements have been prepared on a basis consistent with the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, which include all normal recurring adjustments necessary to fairly state the Company’s financial position as of June 30, 2020, and its consolidated results of operations, comprehensive income, stockholders’ equity for the three and six months ended June 30, 2020 and 2019, and its cash flows for the six months ended June 30, 2020 and 2019. The financial data and the other financial information disclosed in the notes to the financial statements related to these periods are also unaudited. The results of operations for the six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2020 or for any other future annual or interim period.

These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K, which was filed with the SEC on February 13, 2020. The unaudited consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain immaterial changes in presentation have been made to conform the prior period presentation to current period reporting.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements. Actual results could differ from those estimates. Such estimates include, but are not limited to, the determination of the allowance for doubtful accounts, the volume of expected unused licenses for our subscription-based products, the assessment of recoverability of property and equipment, the fair value of acquired goodwill and intangible assets, the grant-date fair value of non-cash equity-based compensation, the assessment of recoverability of deferred tax assets, the measurement of income tax and contingent non-income tax liabilities and the determination of the incremental borrowing rate used to calculate the lease liability.

Cash, Cash Equivalents and Restricted Cash

The following represents the Company’s cash and cash equivalents and restricted cash balances as of June 30, 2020 and December 31, 2019 (in thousands):


	As of June 30, 2020		As of December 31, 2019
Cash and cash equivalents	$	311,157	$	303,261
Restricted cash	—		2,613
Total cash, cash equivalents and restricted cash	$	311,157	$	305,874

The Company’s cash and cash equivalents consist of cash on hand and bank deposits. These assets are stated at cost, which approximates fair value.

As of March 31, 2020, the Company was no longer required to provide cash collateral for its letter of credit for its New York City headquarters, and, accordingly, these funds are no longer restricted.

Allowance for Doubtful Accounts

The Company’s accounts receivable consists of customer obligations due under normal trade terms, carried at their face value less an allowance for doubtful accounts, if required. The Company determines its allowance for doubtful accounts based on an evaluation of the aging of its accounts receivable and on a customer-by-customer basis where appropriate. The Company’s reserve analysis contemplates the Company’s historical loss rate on receivables, specific customer situations and the economic environments in which the Company operates.

Historically, the Company used an incurred loss model to calculate its allowance for doubtful accounts. Upon the adoption of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments (“ASU 2016-13”) on January 1, 2020, the Company shifted to a current expected credit loss model.

During the six months ended June 30, 2020, the Company recorded bad debt expense of $1.1 million. As of June 30, 2020 and December 31, 2019, the Company’s allowance for doubtful accounts was approximately $3.6 million. The allowance for doubtful accounts is included as a reduction of accounts receivable on the Consolidated Balance Sheets.

Chargeback and Sales Refund Allowance

The Company establishes a chargeback allowance and sales refund reserve allowance based on factors surrounding historical credit card chargeback trends, historical sales refund trends and other information. As of June 30, 2020 and December 31, 2019, the Company’s combined allowance for chargebacks and sales refunds was $0.4 million, which was included as a component of other current liabilities on the Consolidated Balance Sheets.

Revenue Recognition

The majority of the Company’s revenue is earned from the license of content. Content licenses are generally purchased on a monthly or annual basis, whereby a customer pays for a predetermined quantity of content that may be downloaded over a specific period of time, or, on a transactional basis, whereby a customer pays for individual content licenses at the time of download.

The Company recognizes revenue upon the satisfaction of performance obligations, which generally occurs when content is downloaded by a customer. The Company recognizes revenue on both its subscription-based and transaction-based products when content is downloaded, at which time the license is provided. In addition, management estimates expected unused licenses for subscription-based products and recognizes the estimated revenue associated with the unused licenses as digital content is downloaded and licenses are obtained for such content by the customer during the subscription period. The estimate of unused licenses is based on historical download activity and future changes in the estimate could impact the timing of revenue recognition of the Company’s subscription products. The Company expenses contract acquisition costs as incurred, to the extent that the amortization period would otherwise be one year or less.

Collectability is reasonably assured at the time the electronic order or contract is entered. The majority of the Company’s customers purchase products by making an electronic payment with a credit card at the time of a transaction. Customer payments received in advance of revenue recognition are contract liabilities and are recorded as deferred revenue. Customers that do not pay in advance are invoiced and are required to make payments under standard credit terms. Collectability for

customers who pay on credit terms allowing for payment beyond the date at which service commences is based on a credit evaluation for certain new customers and transaction history with existing customers.

The Company recognizes revenue gross of contributor royalties because the Company is the principal in the transaction as it is the party responsible for the performance obligation and it controls the product or service before transferring it to the customer. The Company also licenses content to customers through third-party resellers. Third-party resellers sell the Company’s products directly to customers as the principal in those transactions. Accordingly, the Company recognizes revenue net of costs paid to resellers.

Recently Adopted Accounting Standard Updates

In June 2016, the FASB issued ASU 2016-13, which as amended, replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses. The ASU is intended to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. Adoption of this guidance was required, prospectively, for annual periods beginning after December 15, 2019, with early adoption permitted for annual periods beginning after December 15, 2018. The Company adopted ASU 2016-13, as amended, effective January 1, 2020 using the modified retrospective method and recorded a cumulative-effect adjustment of $0.2 million, net of tax, in retained earnings as of January 1, 2020.

In August 2018, the FASB issued ASU 2018-13, Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements (“ASU 2018-13”), which eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of the FASB’s disclosure framework project. Adoption of this guidance was required for fiscal years and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted ASU 2018-13, effective January 1, 2020. The impact of adoption of this standard on the consolidated financial statements, including accounting policies, processes and systems, was not material.

In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting For Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”), which aligns the requirements for capitalizing implementation costs in a cloud computing arrangement with the requirements for capitalizing implementation costs incurred for an internal-use software license. Adoption of this guidance was required for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years and early adoption is permitted. Entities are permitted to choose to adopt the new guidance (1) prospectively for eligible costs incurred on or after the date this guidance is first applied or (2) retrospectively. The Company adopted ASU 2018-15 on a prospective basis, effective January 1, 2020. The adoption of this standard is not expected to have a significant impact on our consolidated financial statements.

Recently Issued Accounting Standard Updates

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes (“ASU-2019-12”). ASU 2019-12 eliminates certain exceptions to the guidance in Topic 740 related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes, enacted changes in tax laws or rates and clarifies the accounting transactions that result in a step-up in the tax basis of goodwill. The guidance is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. We are currently in the process of evaluating the effect that ASU 2019-12 will have on the Company's Consolidated Financial Statements.

Property and Equipment

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment is summarized as follows (in thousands):


	As of June 30, 2020		As of December 31, 2019
Computer equipment and software	$	179,580	$	165,950
Furniture and fixtures	10,211		10,199
Leasehold improvements	19,260		19,203
Property and equipment	209,051		195,352
Less accumulated depreciation	(154,811)		(136,518)
Property and equipment, net	$	54,240	$	58,834

Depreciation expense related to property and equipment was $9.6 million and $10.5 million for the three months ended June 30, 2020 and 2019, respectively, and $18.9 million and $21.1 million for the six months ended June 30, 2020 and 2019, respectively. Cost of revenues includes depreciation expense of $8.6 million and $9.3 million for the three months ended June 30, 2020 and 2019, respectively, and $16.8 million and $18.6 million for the six months ended June 30, 2020 and 2019, respectively. General and administrative expense includes depreciation expense of $1.0 million and $1.2 million for the three months ended June 30, 2020 and 2019, respectively, and $2.1 million and $2.5 million for the six months ended June 30, 2020 and 2019, respectively.

Capitalized Internal-Use Software

The Company capitalized costs related to the development of internal-use software of $6.5 million and $5.8 million for the three months ended June 30, 2020 and 2019, respectively, and $13.1 million and $12.3 million for the six months ended June 30, 2020 and 2019, respectively. Capitalized amounts are included as a component of property and equipment under computer equipment and software on the Consolidated Balance Sheets.

The portion of total depreciation expense related to capitalized internal-use software was $7.8 million and $7.5 million for the three months ended June 30, 2020 and 2019, respectively, and $14.9 million and $14.8 million for the six months ended June 30, 2020 and 2019, respectively. Depreciation expense related to capitalized internal-use software is included in cost of revenue in the Consolidated Statements of Operations.

As of June 30, 2020 and December 31, 2019, the Company had capitalized internal-use software of $39.9 million and $41.8 million, respectively, net of accumulated depreciation, which was included in property and equipment, net.

Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
Geographic Information (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Geographic revenue based on customer location and long-lived tangible assets
Revenue	$ 159,230	$ 161,741	$ 320,515	$ 325,073
Total long-lived tangible assets	54,240		54,240		$ 58,834
North America
Geographic revenue based on customer location and long-lived tangible assets
Revenue	56,211	57,657	113,229	115,171
Total long-lived tangible assets	47,361		$ 47,361		$ 51,954
United States \| Revenue benchmark \| Geographic concentration
Geographic revenue based on customer location and long-lived tangible assets
Concentration risk percentage			32.00%
United States \| Total long-lived tangible assets \| Geographic concentration
Geographic revenue based on customer location and long-lived tangible assets
Concentration risk percentage			77.00%		79.00%
Europe
Geographic revenue based on customer location and long-lived tangible assets
Revenue	52,207	53,647	$ 106,003	109,132
Total long-lived tangible assets	6,557		6,557		$ 6,541
Rest of the world
Geographic revenue based on customer location and long-lived tangible assets
Revenue	50,812	$ 50,437	101,283	$ 100,770
Total long-lived tangible assets	$ 322		$ 322		$ 339

Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares

The following table sets forth the computation of basic and diluted net income per share for the three and six months ended June 30, 2020 and 2019 (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net income	$	18,987	$	3,299	$	23,305	$	10,821
Shares used to compute basic net income per share	35,652		35,232		35,587		35,174
Dilutive potential common shares
Stock options	39		102		53		104
Unvested restricted stock awards	215		170		254		221

Shares used to compute diluted net income per share	35,906		35,504		35,894		35,499
Basic net income per share	$	0.53	$	0.09	$	0.65	$	0.31
Diluted net income per share	$	0.53	$	0.09	$	0.65	$	0.30

Dilutive shares included in the calculation	1,304		1,005		1,080		992
Anti-dilutive shares excluded from the calculation	1,152		1,206		1,148		1,171

Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The Company’s revenues by distribution channel for the three and six months ended June 30, 2020 and 2019 are as follows (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
E-commerce	$	98,164	$	96,993	$	197,900	$	195,106
Enterprise	61,066		64,748		122,615		129,967

Total Revenues	$	159,230	$	161,741	$	320,515	$	325,073

Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2018		37,618	2,558
Beginning balance at Dec. 31, 2018	$ 286,667	$ 376	$ (100,027)	$ 291,710	$ (6,471)	$ 101,079
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	12,375			12,375
Issuance of common stock in connection with employee stock option exercises and RSU vesting	222	$ 4		218
Issuance of common stock in connection with employee stock option exercises and RSU vesting (in shares)		312
Common shares withheld for settlement of taxes in connection with equity-based compensation	(5,182)	$ (1)		(5,181)
Common shares withheld for settlement of taxes in connection with equity-based compensation (in shares)		(114)
Other comprehensive income (loss)	(982)				(982)
Net income	10,821					10,821
Ending balance at Jun. 30, 2019	303,921	$ 379	$ (100,027)	299,122	(7,453)	111,900
Ending balance (in shares) at Jun. 30, 2019		37,816	2,558
Beginning balance (in shares) at Mar. 31, 2019		37,759	2,558
Beginning balance at Mar. 31, 2019	294,984	$ 378	$ (100,027)	292,458	(6,426)	108,601
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	7,751			7,751
Issuance of common stock in connection with employee stock option exercises and RSU vesting	5	$ 1		4
Issuance of common stock in connection with employee stock option exercises and RSU vesting (in shares)		83
Common shares withheld for settlement of taxes in connection with equity-based compensation	(1,091)	$ 0		(1,091)
Common shares withheld for settlement of taxes in connection with equity-based compensation (in shares)		(26)
Other comprehensive income (loss)	(1,027)				(1,027)
Net income	3,299					3,299
Ending balance at Jun. 30, 2019	$ 303,921	$ 379	$ (100,027)	299,122	(7,453)	111,900
Ending balance (in shares) at Jun. 30, 2019		37,816	2,558
Beginning balance (in shares) at Dec. 31, 2019	35,497	38,055	2,558
Beginning balance at Dec. 31, 2019	$ 328,145	$ 381	$ (100,027)	312,824	(6,220)	121,187
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	9,396			9,396
Issuance of common stock in connection with employee stock option exercises and RSU vesting	629	$ 3		626
Issuance of common stock in connection with employee stock option exercises and RSU vesting (in shares)		289
Common shares withheld for settlement of taxes in connection with equity-based compensation	(3,436)	$ (2)		(3,434)
Common shares withheld for settlement of taxes in connection with equity-based compensation (in shares)		(99)
Payment of cash dividend	(12,098)					(12,098)
Other comprehensive income (loss)	(2,194)				(2,194)
Net income	23,305					23,305
Ending balance at Jun. 30, 2020	$ 343,500	$ 382	$ (100,027)	319,412	(8,414)	132,147
Ending balance (in shares) at Jun. 30, 2020	35,687	38,245	2,558
Beginning balance (in shares) at Mar. 31, 2020		38,119	2,558
Beginning balance at Mar. 31, 2020	$ 327,727	$ 381	$ (100,027)	316,823	(8,668)	119,218
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	3,636			3,636
Issuance of common stock in connection with employee stock option exercises and RSU vesting	629	$ 2		627
Issuance of common stock in connection with employee stock option exercises and RSU vesting (in shares)		180
Common shares withheld for settlement of taxes in connection with equity-based compensation	(1,675)	$ (1)		(1,674)
Common shares withheld for settlement of taxes in connection with equity-based compensation (in shares)		(54)
Payment of cash dividend	(6,058)					(6,058)
Other comprehensive income (loss)	254				254
Net income	18,987					18,987
Ending balance at Jun. 30, 2020	$ 343,500	$ 382	$ (100,027)	$ 319,412	$ (8,414)	$ 132,147
Ending balance (in shares) at Jun. 30, 2020	35,687	38,245	2,558

Stockholders’ Equity and Equity-Based Compensation - Summary of non-cash equity-based compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Non-cash equity-based compensation expense
Non-cash equity-based compensation	$ 3,636	$ 7,751	$ 9,396	$ 12,375
Stock options
Non-cash equity-based compensation expense
Non-cash equity-based compensation	414	2,176	1,730	3,067
RSUs
Non-cash equity-based compensation expense
Non-cash equity-based compensation	3,222	5,575	7,666	9,308
Cost of revenue
Non-cash equity-based compensation expense
Non-cash equity-based compensation	99	105	150	190
Sales and marketing
Non-cash equity-based compensation expense
Non-cash equity-based compensation	374	675	834	1,257
Product development
Non-cash equity-based compensation expense
Non-cash equity-based compensation	1,068	1,252	2,193	2,427
General and administrative
Non-cash equity-based compensation expense
Non-cash equity-based compensation	$ 2,095	$ 5,719	$ 6,219	$ 8,501

Summary of Operations and Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 311,157	$ 303,261
Restricted cash	0	2,613
Total cash, cash equivalents and restricted cash	$ 311,157	$ 305,874	$ 261,682	$ 233,465

Other Income / (Expense), net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Other Nonoperating Income (Expense) [Abstract]
Foreign currency gain / (loss)	$ 132	$ (569)	$ (466)	$ (730)
Interest income	17	1,153	1,128	2,210
Total other income	$ 149	$ 584	$ 662	$ 1,480

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Amortizing intangible assets
Gross Carrying Amount	$ 52,967	$ 52,856
Accumulated Amortization	(27,785)	(26,187)
Customer relationships
Amortizing intangible assets
Gross Carrying Amount	16,982	17,729
Accumulated Amortization	$ (9,648)	(9,294)
Weighted Average Life (Years)	9 years
Trade name
Amortizing intangible assets
Gross Carrying Amount	$ 6,237	6,517
Accumulated Amortization	$ (5,778)	(5,941)
Weighted Average Life (Years)	7 years
Developed technology
Amortizing intangible assets
Gross Carrying Amount	$ 4,677	4,841
Accumulated Amortization	$ (4,368)	(4,226)
Weighted Average Life (Years)	4 years
Contributor content
Amortizing intangible assets
Gross Carrying Amount	$ 24,812	23,510
Accumulated Amortization	$ (7,883)	(6,626)
Weighted Average Life (Years)	9 years
Patents
Amortizing intangible assets
Gross Carrying Amount	$ 259	259
Accumulated Amortization	$ (108)	$ (100)
Weighted Average Life (Years)	18 years

Fair Value Measurements and Other Long-term Investments	6 Months Ended
Fair Value Measurements and Other Long-term Investments	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements and Other Long-term Investments	Fair Value Measurements and Other Long-term Investments Fair Value Measurements The Company had no assets or liabilities requiring fair value hierarchy disclosures as of June 30, 2020 or December 31, 2019. Other Fair Value Measurements The carrying amounts of cash, accounts receivable, restricted cash, accounts payable and accrued expenses approximate fair value because of the short-term nature of these instruments. The Company’s non-financial assets, which include property and equipment, intangible assets and goodwill, are not required to be measured at fair value on a recurring basis. However, if the Company is required to evaluate a non-financial asset for impairment, whether due to certain triggering events or because annual impairment testing is required, a resulting asset impairment would require that the non-financial asset be recorded at fair value. Other Long-term Investments Investment in ZCool Technologies Limited (“ZCool”) On January 4, 2018, the Company invested $15.0 million in convertible preferred shares issued by ZCool (the “Preferred Shares”), which is equivalent to a 25% fully diluted equity ownership interest. ZCool’s primary business is the operation of an e-commerce platform in China whereby customers can pay to license content contributed by creative professionals. ZCool and its affiliates have been the exclusive distributor of Shutterstock creative content in China since 2014. ZCool is a variable interest entity that is not consolidated because the Company is not the primary beneficiary. The Preferred Shares are not deemed to be in-substance common stock and are accounted for using the measurement alternative for equity investments with no readily determinable fair value. The Preferred Shares are reported at cost, adjusted for impairments or any observable price changes in orderly transactions for identical or similar investments issued by ZCool. On a quarterly basis, the Company evaluates the carrying value of the Preferred Shares for impairment, which includes an assessment of ZCool’s revenue growth, earnings performance, working capital and the general regional market conditions. As of June 30, 2020, no adjustments to the carrying value were identified as a result of this assessment. Changes in performance negatively impacting ZCool’s operating results and cash flows could result in the Company recording an impairment charge on the Preferred Shares in future periods. As of June 30, 2020 and December 31, 2019, the Company’s total investment in ZCool is $15.0 million, which is reported within other assets on the Consolidated Balance Sheets.

- Definition

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

+ References + Details

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Amortizing intangible assets
Amortization expense	$ 1.2	$ 2.9	$ 2.5	$ 4.2
Remainder of 2020	2.9		2.9
2021	5.1		5.1
2022	4.8		4.8
2023	4.1		4.1
2024	3.2		3.2
2025	1.9		1.9
Thereafter	3.2		3.2
Cost of revenue
Amortizing intangible assets
Amortization expense	0.7	0.5	1.3	0.9
Selling, General and Administrative Expenses
Amortizing intangible assets
Amortization expense	$ 0.5	$ 2.4	$ 1.2	$ 3.3

Geographic Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Revenue from External Customers by Geographic Areas

The following table presents the Company’s revenue based on customer location (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
North America	$	56,211	$	57,657	$	113,229	$	115,171
Europe	52,207		53,647		106,003		109,132
Rest of the world	50,812		50,437		101,283		100,770
Total revenue	$	159,230	$	161,741	$	320,515	$	325,073

Long-lived Assets by Geographic Areas

The Company’s long-lived tangible assets were located as follows (in thousands):


	As of June 30,		As of December 31,
	2020		2019
North America	$	47,361	$	51,954
Europe	6,557		6,541
Rest of the world	322		339
Total long-lived tangible assets	$	54,240	$	58,834

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The Company’s goodwill balance is attributable to its Content reporting unit and is tested for impairment annually on October 1 or upon a triggering event. No triggering events were identified during the six months ended June 30, 2020.

The following table summarizes the changes in the Company’s goodwill balance during the six months ended June 30, 2020 (in thousands):


	Goodwill
Balance as of December 31, 2019	$	88,974

Foreign currency translation adjustment	(807)

Balance as of June 30, 2020	$	88,167

Intangible Assets

Intangible assets consisted of the following as of June 30, 2020 and December 31, 2019 (in thousands):


	As of June 30, 2020							As of December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Weighted Average Life (Years)	Gross Carrying Amount		Accumulated Amortization
Amortizing intangible assets:
Customer relationships	$	16,982	$	(9,648)	9	$	17,729	$	(9,294)
Trade name	6,237		(5,778)		7	6,517		(5,941)
Developed technology	4,677		(4,368)		4	4,841		(4,226)
Contributor content	24,812		(7,883)		9	23,510		(6,626)

Patents	259		(108)		18	259		(100)

Total	$	52,967	$	(27,785)		$	52,856	$	(26,187)

Amortization expense was $1.2 million and $2.9 million for the three months ended June 30, 2020 and 2019, respectively, and $2.5 million and $4.2 million for the six months ended June 30, 2020 and 2019, respectively. Cost of revenue includes amortization expense of $0.7 million and $0.5 million for the three months ended June 30, 2020 and 2019, respectively, and $1.3 million and $0.9 million for the six months ended June 30, 2020 and 2019, respectively. General and administrative expense includes amortization expense of $0.5 million and $2.4 million for the three months ended June 30, 2020 and 2019, respectively, and $1.2 million and $3.3 million for the six months ended June 30, 2020 and 2019, respectively.

The Company determined that there was no indication of impairment of the intangible assets for any period presented. Estimated amortization expense is: $2.9 million for the remaining six months of 2020, $5.1 million in 2021, $4.8 million in 2022, $4.1 million in 2023, $3.2 million in 2024, $1.9 million in 2025 and $3.2 million thereafter.

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate, expense (benefit)	(16.30%)	(9.70%)	19.60%	14.50%
Increase (decrease) in effective tax rate, loss jurisdiction	(0.30%)		1.60%
Effective tax rate increase (decrease)		(3.40%)	1.40%	(1.80%)
Unrecognized tax benefits, period increase (decrease)				$ (1,000)
Cash paid for income taxes			$ 927	1,480
Proceeds from net tax refunds				$ 1,500
Effective Income Tax Rate Reconciliation, Excluding Discrete Items, Percent	16.60%		16.60%