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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Revenues $ 401,258 $ 373,479 $ 795,823 $ 689,498
Operating expenses        
Cost of revenue [1] 234,800 203,238 448,178 394,345
Research and development 41,107 35,410 80,015 70,403
Selling and marketing 28,741 28,551 60,927 55,301
General and administrative 37,651 24,993 65,243 50,993
Depreciation and amortization 24,101 27,586 48,086 55,195
Total operating expenses 366,400 319,778 702,449 626,237
Operating income 34,858 53,701 93,374 63,261
Other income (expense)        
Interest expense (14,527) (18,471) (29,210) (37,481)
Interest income 3,934 3,953 7,998 7,962
Other, net (6,393) 1,156 17,347 (869)
Total other income (expense) (16,986) (13,362) (3,865) (30,388)
Income before income taxes 17,872 40,339 89,509 32,873
Income tax expense 5,670 9,452 18,437 9,737
Net income $ 12,202 $ 30,887 $ 71,072 $ 23,136
Income per common share        
Basic (in dollars per share) $ 0.12 $ 0.29 $ 0.68 $ 0.22
Diluted (in dollars per share) $ 0.12 $ 0.29 $ 0.67 $ 0.22
Weighted average common shares outstanding        
Basic (in shares) 104,376 105,395 104,860 106,097
Diluted (in shares) 105,103 106,166 105,960 106,815
Software as a service and platform as a service        
Revenues        
Revenues $ 271,258 $ 235,399 $ 508,341 $ 451,131
License        
Revenues        
Revenues 56,711 65,582 141,204 95,555
Maintenance        
Revenues        
Revenues 50,421 48,733 99,063 96,487
Services        
Revenues        
Revenues $ 22,868 $ 23,765 $ 47,215 $ 46,325
[1] The cost of revenue excludes charges for depreciation and amortization.