XML 15 R4.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue, net (includes $7.3 million and $13.8 million with related parties for the three months ended March 31, 2026 and 2025, respectively) $ 706,604 $ 558,570
Operating expenses:    
Total direct costs 510,278 380,220
Selling, general and administrative 47,917 57,897
Depreciation 6,751 6,694
Amortization 155 236
Total operating expenses 565,101 445,047
Income from operations 141,503 113,523
Other income, net:    
Miscellaneous income (expense), net 971 (1,816)
Interest income, net 5,117 6,463
Total other income, net 6,088 4,647
Income before income taxes 147,591 118,170
Income tax provision 23,721 3,575
Net income $ 123,870 $ 114,595
Net income per share attributable to common shareholders:    
Basic (in dollars per share) $ 4.35 $ 3.77
Diluted (in dollars per share) $ 4.28 $ 3.67
Weighted average common shares outstanding:    
Basic (in shares) 28,445 30,387
Diluted (in shares) 28,962 31,196
Direct Costs    
Operating expenses:    
Total direct costs $ 198,274 $ 177,816
Reimbursed out-of-pocket expenses    
Operating expenses:    
Total direct costs $ 312,004 $ 202,404