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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenue $ 401,977 $ 325,883 $ 757,685 $ 585,822
Cost of revenue 192,879 166,889 366,380 313,010
Gross profit 209,098 158,994 391,305 272,812
Selling, general and administrative expenses 114,850 94,181 213,867 163,086
Income from operations 94,248 64,813 177,438 109,726
Other income (expense):        
Interest income on note receivable 0 28 28 73
Interest income, net 10,647 5,545 20,259 10,469
Foreign exchange loss (264) (931) (633) (1,049)
Total other income 10,383 4,642 19,654 9,493
Net income before provision for income taxes 104,631 69,455 197,092 119,219
Provision for income taxes (24,848) (17,946) (39,498) (26,483)
Net income 79,783 51,509 157,594 92,736
Dividends on Series A convertible preferred stock (6,838) (6,856) (13,675) (13,637)
Income allocated to participating preferred stock (6,289) (3,890) (12,417) (6,898)
Net income attributable to common stockholders 66,656 40,763 131,502 72,201
Other comprehensive (loss) income:        
Foreign currency translation adjustments, net of income tax (308) (590) (1,662) 4
Comprehensive income $ 66,348 $ 40,173 $ 129,840 $ 72,205
Earnings Per Share        
Basic (in USD per share) [1] $ 0.29 $ 0.18 $ 0.56 $ 0.31
Diluted (in USD per share) [1] $ 0.28 $ 0.17 $ 0.55 $ 0.31
Weighted average shares outstanding        
Basic (in shares) [1] 233,197 230,535 232,979 230,277
Diluted (in shares) [1] 237,595 236,832 237,569 236,577
[1] Forward Stock Split - The accompanying consolidated financial statements and notes thereto have been retrospectively adjusted to reflect the three-for-one stock split that became effective on November 13, 2023. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies for more information.