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SEGMENT AND RELATED INFORMATION | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
SEGMENT AND RELATED INFORMATION | SEGMENT AND RELATED INFORMATION Reportable operating segments are determined based on the Company’s management approach. The management approach, as defined by FASB ASC 280 “Segment Reporting” is based on the way that the Chief Operating Decision Maker (“CODM”) organizes the segments within an enterprise for making decisions about resources to be allocated and assessing their performance. Our CODM, for purposes of FASB ASC 280, is our Chief Executive Officer. We report our results in two reportable segments. Our reportable segments are organized on the basis of a combination of the products and services they deliver to clients and the function the public sector client performs. Business units that have met the aggregation criteria have been combined into our two reportable segments. The Enterprise Software (“ES”) reportable segment provides public sector entities with software systems and services to meet their information technology and automation needs for mission-critical “back-office” functions such as: public administration solutions, courts and public safety solutions, education solutions, and property and recording solutions. The Platform Technologies (“PT”) reportable segment provides public sector entities with platform and transformative solutions including digital solutions, payment processing, streamlined data processing, and improved operations and workflows. The primary financial measures used by the CODM for assessing performance and allocating resources are segment income or loss from operations. The CODM uses segment income or loss from operations before income taxes, not including gains and losses on investments, to allocate resources (including employees, property, and financial or capital resources) for each segment predominantly in the annual budget and forecasting process. Segment gross profit for our operating segments units is defined as gross profit before non-cash amortization of acquired software associated with acquisitions. Segment operating income for our reportable segments is defined as income before non-cash amortization of intangible assets associated with their acquisitions, interest expense, and income taxes. During the fiscal periods presented, we had no significant transaction between reportable segments. Corporate segment operating loss primarily consists of compensation costs for the executive management team, certain shared services staff, and share-based compensation expense for the entire company. Corporate segment operating loss also includes revenues and expenses related to a company-wide user conference. The accounting policies of the reportable segments are the same as those described in Note 1, “Summary of Significant Accounting Policies”. Segment assets primarily consist of net accounts receivable, prepaid expenses and other current assets, and net property and equipment and software development costs. Corporate assets primarily consist of cash and investments, prepaid insurance, intangibles associated with acquisitions, deferred income taxes, and net property and equipment mainly related to unallocated information and technology assets. Certain presentation items from previous years have been adjusted to conform with current year presentation.
For the year ended December 31, 2024 | Enterprise Software |  | Platform Technologies |  | Corporate |  |  |  | Totals
Revenues |  |  |  |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |  |  |  |
SaaS | $ | 559,842 |  |  | $ | 84,937 |  |  | $ | — |  |  |  |  | $ | 644,779 |
Transaction-based fees | 234,633 |  |  | 463,519 |  |  | — |  |  |  |  | 698,152 |
Maintenance | 438,455 |  |  | 24,677 |  |  | — |  |  |  |  | 463,132 |
Professional services | 219,933 |  |  | 44,058 |  |  | — |  |  |  |  | 263,991 |
Software licenses and royalties | 25,292 |  |  | 1,065 |  |  | — |  |  |  |  | 26,357 |
Hardware and other | 33,447 |  |  | 992 |  |  | 6,953 |  |  |  |  | 41,392 |
Total revenues | 1,511,602 |  |  | 619,248 |  |  | 6,953 |  |  |  |  | 2,137,803 |
Cost of revenues excluding amortization of acquired software | 706,952 |  |  | 411,351 |  |  | 46,775 |  |  |  |  | 1,165,078 |
Segment gross profit | 804,650 |  |  | 207,897 |  |  | (39,822) |  |  |  |  | 972,725 |
Sales and marketing expense | 109,981 |  |  | 21,618 |  |  | 26,132 |  |  |  |  | 157,731 |
General and administrative expense | 48,072 |  |  | 57,627 |  |  | 195,239 |  |  |  |  | 300,938 |
Research and development expense | 100,182 |  |  | 12,126 |  |  | 5,631 |  |  |  |  | 117,939 |
Segment operating income | 546,415 |  |  | 116,526 |  |  | (266,824) |  |  |  |  | 396,117 |
Depreciation and amortization expense | 37,179 |  |  | 89,372 |  |  | 16,886 |  |  |  |  | 143,437 |
Software development expenditures | 7,612 |  |  | 15,558 |  |  | 6,231 |  |  |  |  | 29,401 |
Capital expenditures | 15,283 |  |  | 4,168 |  |  | 1,084 |  |  |  |  | 20,535 |
Segment assets | $ | 572,224 |  |  | $ | 416,635 |  |  | $ | 4,191,156 |  |  |  |  | $ | 5,180,015 |
For the year ended December 31, 2023 | Enterprise Software |  | Platform Technologies |  | Corporate |  |  |  | Totals
Revenues |  |  |  |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |  |  |  |
SaaS | $ | 459,544 |  |  | $ | 68,433 |  |  | $ | — |  |  |  |  | $ | 527,977 |
Transaction-based fees | 174,718 |  |  | 456,817 |  |  | — |  |  |  |  | 631,535 |
Maintenance | 442,781 |  |  | 23,880 |  |  | — |  |  |  |  | 466,661 |
Professional services | 209,727 |  |  | 40,249 |  |  | — |  |  |  |  | 249,976 |
Software licenses and royalties | 32,709 |  |  | 5,387 |  |  | — |  |  |  |  | 38,096 |
Hardware and other | 30,176 |  |  | — |  |  | 7,330 |  |  |  |  | 37,506 |
Total revenues | 1,349,655 |  |  | 594,766 |  |  | 7,330 |  |  |  |  | 1,951,751 |
Cost of revenues excluding amortization of acquired software | 653,407 |  |  | 368,017 |  |  | 33,166 |  |  |  |  | 1,054,590 |
Segment gross profit | 696,248 |  |  | 226,749 |  |  | (25,836) |  |  |  |  | 897,161 |
Sales and marketing expense | 102,325 |  |  | 25,196 |  |  | 22,249 |  |  |  |  | 149,770 |
General and administrative expense | 57,481 |  |  | 64,406 |  |  | 186,688 |  |  |  |  | 308,575 |
Research and development expense | 92,686 |  |  | 12,701 |  |  | 4,198 |  |  |  |  | 109,585 |
Segment operating income | 443,756 |  |  | 124,446 |  |  | (238,971) |  |  |  |  | 329,231 |
Depreciation and amortization expense | 25,445 |  |  | 110,354 |  |  | 18,280 |  |  |  |  | 154,079 |
Software development expenditures | 6,619 |  |  | 15,840 |  |  | 10,031 |  |  |  |  | 32,490 |
Capital expenditures | 16,788 |  |  | 2,380 |  |  | 1,351 |  |  |  |  | 20,519 |
Segment assets | $ | 631,117 |  |  | $ | 426,064 |  |  | $ | 3,619,482 |  |  |  |  | $ | 4,676,663 |
For the year ended December 31, 2022 | Enterprise Software |  | Platform Technologies |  | Corporate |  |  |  | Totals
Revenues |  |  |  |  |  |  |  |  |
Subscriptions: |  |  |  |  |  |  |  |  |
SaaS | $ | 378,953 |  |  | $ | 49,573 |  |  | $ | — |  |  |  |  | $ | 428,526 |
Transaction-based fees | 147,370 |  |  | 436,408 |  |  |  |  |  |  | 583,778 |
Maintenance | 444,143 |  |  | 24,312 |  |  | — |  |  |  |  | 468,455 |
Professional services | 204,970 |  |  | 72,655 |  |  | — |  |  |  |  | 277,625 |
Software licenses and royalties | 55,158 |  |  | 4,248 |  |  | — |  |  |  |  | 59,406 |
Hardware and other | 26,592 |  |  | — |  |  | 5,822 |  |  |  |  | 32,414 |
Total revenues | 1,257,186 |  |  | 587,196 |  |  | 5,822 |  |  |  |  | 1,850,204 |
Cost of revenues excluding amortization of acquired software | 606,379 |  |  | 370,571 |  |  | 37,199 |  |  |  |  | 1,014,149 |
Segment gross profit | 650,807 |  |  | 216,625 |  |  | (31,377) |  |  |  |  | 836,055 |
Sales and marketing expense | 100,786 |  |  | 23,224 |  |  | 11,733 |  |  |  |  | 135,743 |
General and administrative expense | 39,083 |  |  | 61,191 |  |  | 167,050 |  |  |  |  | 267,324 |
Research and development expense | 92,162 |  |  | 8,919 |  |  | 4,103 |  |  |  |  | 105,184 |
Segment operating income | 418,776 |  |  | 123,291 |  |  | (214,263) |  |  |  |  | 327,804 |
Depreciation and amortization expense | 55,389 |  |  | 84,609 |  |  | 19,074 |  |  |  |  | 159,072 |
Software development expenditures | 3,790 |  |  | 14,581 |  |  | 9,251 |  |  |  |  | 27,622 |
Capital expenditures | 8,972 |  |  | 6,845 |  |  | 6,712 |  |  |  |  | 22,529 |
Segment assets | $ | 636,377 |  |  | $ | 362,610 |  |  | $ | 3,688,430 |  |  |  |  | $ | 4,687,417 |
Reconciliation of reportable segment gross profit to the Company's consolidated totals: | Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Segment gross profit | $ | 972,725 |  |  | $ | 897,161 |  |  | $ | 836,055 |
Amortization of acquired software | (36,964) |  |  | (36,062) |  |  | (52,192) |
Gross profit | $ | 935,761 |  |  | $ | 861,099 |  |  | $ | 783,863 |
Reconciliation of reportable segment operating income to the Company's consolidated totals: | Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Total segment operating income | $ | 396,117 |  |  | $ | 329,231 |  |  | $ | 327,804 |
Amortization of acquired software | (36,964) |  |  | (36,062) |  |  | (52,192) |
Amortization of other intangibles | (59,627) |  |  | (74,632) |  |  | (61,363) |
Interest expense | (5,931) |  |  | (23,629) |  |  | (28,379) |
Other income, net | 14,572 |  |  | 3,328 |  |  | 1,723 |
Income before income taxes | $ | 308,167 |  |  | $ | 198,236 |  |  | $ | 187,593 |

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- Definition The entire disclosure for reporting segments including data and tables. 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