Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

The following consists of quarterly financial data (in thousands, except per share amounts):


	Quarter Ended								Year Ended
	March 31, 2020		June 30, 2020		September 30, 2020		December 31, 2020		December 31, 2020
Revenues:
Software as a service and platform as a service	$	192,950	$	180,573	$	190,369	$	205,288	$	769,180
License	28,129		50,136		56,773		111,858		246,896
Maintenance	53,280		52,749		53,049		52,619		211,697
Services	17,126		16,452		15,692		17,279		66,549
Total revenues	291,485		299,910		315,883		387,044		1,294,322
Operating expenses:
Cost of revenue (1)	165,837		147,346		158,579		150,697		622,459
Research and development	39,024		35,578		33,573		31,118		139,293
Selling and marketing	30,083		24,455		22,154		26,875		103,567
General and administrative	35,926		29,758		37,000		49,784		152,468
Depreciation and amortization	31,898		33,635		33,395		32,863		131,791
Total operating expenses	302,768		270,772		284,701		291,337		1,149,578
Operating income (loss)	(11,283)		29,138		31,182		95,707		144,744
Other income (expense):
Interest expense	(17,171)		(14,142)		(12,925)		(12,392)		(56,630)
Interest income	2,900		2,954		2,927		2,847		11,628
Other, net	(9,758)		2,041		1,356		5,245		(1,116)
Total other income (expense)	(24,029)		(9,147)		(8,642)		(4,300)		(46,118)
Income (loss) before income taxes	(35,312)		19,991		22,540		91,407		98,626
Income tax expense (benefit)	(10,885)		5,916		6,674		24,261		25,966
Net income (loss)	$	(24,427)	$	14,075	$	15,866	$	67,146	$	72,660
Earnings (loss) per share
Basic	$	(0.21)	$	0.12	$	0.14	$	0.57	$	0.62
Diluted	$	(0.21)	$	0.12	$	0.13	$	0.56	$	0.62

(1)The cost of revenue excludes charges for depreciation but includes amortization of purchased and developed software for resale.


	Quarter Ended								Year Ended
	March 31, 2019		June 30, 2019		September 30, 2019		December 31, 2019		December 31, 2019
Revenues:
Software as a service and platform as a service	$	108,557	$	172,499	$	192,952	$	203,661	$	677,669
License	21,078		52,541		92,058		122,584		288,261
Maintenance	55,111		51,922		52,638		53,738		213,409
Services	21,109		20,656		17,253		19,937		78,955
Total revenues	205,855		297,618		354,901		399,920		1,258,294
Operating expenses:
Cost of revenue (1)	114,941		155,240		174,168		173,104		617,453
Research and development	36,194		39,235		36,543		34,601		146,573
Selling and marketing	29,430		32,962		30,417		30,875		123,684
General and administrative	31,517		49,319		27,286		27,174		135,296
Depreciation and amortization	21,866		26,744		31,169		31,753		111,532
Total operating expenses	233,948		303,500		299,583		297,507		1,134,538
Operating income (loss)	(28,093)		(5,882)		55,318		102,413		123,756
Other income (expense):
Interest expense	(11,614)		(15,323)		(18,987)		(18,109)		(64,033)
Interest income	3,033		2,997		2,988		2,949		11,967
Other, net	(1,912)		1,402		(2,369)		3,399		520
Total other income (expense)	(10,493)		(10,924)		(18,368)		(11,761)		(51,546)
Income (loss) before income taxes	(38,586)		(16,806)		36,950		90,652		72,210
Income tax expense (benefit)	(12,623)		(22,531)		5,136		35,166		5,148
Net income (loss)	$	(25,963)	$	5,725	$	31,814	$	55,486	$	67,062
Earnings (loss) per share
Basic	$	(0.22)	$	0.05	$	0.27	$	0.48	$	0.58
Diluted	$	(0.22)	$	0.05	$	0.27	$	0.47	$	0.57

(1)The cost of revenue excludes charges for depreciation but includes amortization of purchased and developed software for resale.