Selected Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Information (Unaudited)

Selected quarterly financial information for the years ended December 31, 2020 and 2019 are as follows (in thousands, except per share amounts):


	First		Second		Third			Fourth		Total
	Quarter		Quarter		Quarter			Quarter		Year
2020
Total revenues	$	194,690	$	184,290	$	202,997		$	219,567	$	801,544
Gross profit	157,431		147,585		160,369			169,004		634,389
Income from operations	45,961		44,591		5,323		(2)	54,275		150,150
Provision for income taxes	7,176		4,264		10,705			16,480		38,625
Net income	$	29,669	$	39,076	$	5,844	(2)	$	51,932	$	126,521
Net income per share, basic (1)	$	0.10	$	0.14	$	0.02	(2)	$	0.17	$	0.44
Net income per share, diluted (1)	$	0.10	$	0.13	$	0.02	(2)	$	0.17	$	0.42

2019
Total revenues	$	177,539	$	169,605	$	186,588		$	202,922	$	736,654
Gross profit	144,972		132,974		151,537			163,021		592,504
Income from operations	38,290		19,468		41,402			42,705		141,865
Provision for income taxes	4,318		801		6,640			11,979		23,738
Net income	$	26,437	$	19,981	$	20,427		$	36,251	$	103,096
Net income per share, basic (1)	$	0.09	$	0.07	$	0.07		$	0.13	$	0.36
Net income per share, diluted (1)	$	0.09	$	0.07	$	0.07		$	0.13	$	0.35

(1)Net income per share was computed independently for each of the periods presented; therefore the sum of the net income per share amount for the quarters may not equal the total year.

(2)During the third quarter of 2020, the Company recorded $15,445 total pre‑tax stock‑based compensation expense related to the restricted stock and RSUs that vested as a result of the IPO and $26,130 of pre‑tax expenses associated with the IPO.