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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Revenue [1] $ 265,748 $ 384,757 $ 1,023,433 $ 970,579
Cost of revenue 143,519 190,675 509,899 503,685
Gross profit 122,229 194,082 513,534 466,894
Selling, general and administrative expenses [2] 125,443 96,385 339,310 259,471
(Loss) income from operations (3,214) 97,697 174,224 207,423
Other income (expense):        
Interest income on note receivable 0 28 28 101
Interest income-net 11,112 7,197 31,371 17,666
Foreign exchange gain (loss) 277 (177) (356) (1,226)
Total other income 11,389 7,048 31,043 16,541
Net income before provision for income taxes 8,175 104,745 205,267 223,964
Provision for income taxes (1,819) (20,796) (41,317) (47,279)
Net income 6,356 83,949 163,950 176,685
Dividends on Series A convertible preferred stock [3] (6,913) (6,875) (20,588) (20,512)
Income allocated to participating preferred stock [3] 0 (6,702) (12,357) (13,605)
Net (loss) income attributable to common stockholders (557) 70,372 131,005 142,568
Other comprehensive income (loss):        
Foreign currency translation adjustments, net of income tax 2,025 (664) 363 (660)
Comprehensive income $ 1,468 $ 69,708 $ 131,368 $ 141,908
(Loss) earnings per share        
Basic (in USD per share) [4] $ 0.00 $ 0.30 $ 0.56 $ 0.62
Diluted (in USD per share) [4] $ 0.00 $ 0.30 $ 0.55 $ 0.60
Weighted average shares outstanding        
Basic (in shares) [4] 233,696 231,006 233,219 230,523
Diluted (in shares) [4] 233,696 237,273 237,480 236,886
[1] Includes $124.7 million and $547.8 million for the three and nine months ended September 30, 2024, respectively, and $248.6 million and $590.0 million for the three and nine months ended September 30, 2023, respectively, from a related party.
[2] Includes $0.5 million and $1.6 million for the three and nine months ended September 30, 2024, respectively, and $0.5 million and $1.1 million for the three and nine months ended September 30, 2023, respectively, from a related party.
[3] Amounts in this line item are associated with a related party for all periods presented.
[4] 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.