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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Revenues $ 482,359 $ 451,752 $ 1,278,182 $ 1,141,250
Operating expenses        
Cost of revenue [1] 223,138 197,351 671,316 591,696
Research and development 42,567 37,660 122,582 108,063
Selling and marketing 30,710 28,691 91,637 83,992
General and administrative 34,098 33,949 99,341 84,942
Depreciation and amortization 24,140 31,515 72,226 86,710
Total operating expenses 354,653 329,166 1,057,102 955,403
Operating income 127,706 122,586 221,080 185,847
Other income (expense)        
Interest expense (14,811) (18,356) (44,021) (55,837)
Interest income 3,676 3,871 11,674 11,833
Other, net 1,551 (823) 18,898 (1,692)
Total other income (expense) (9,584) (15,308) (13,449) (45,696)
Income before income taxes 118,122 107,278 207,631 140,151
Income tax expense 26,872 25,851 45,309 35,588
Net income $ 91,250 $ 81,427 $ 162,322 $ 104,563
Income per common share        
Basic (in dollars per share) $ 0.88 $ 0.78 $ 1.56 $ 0.99
Diluted (in dollars per share) $ 0.88 $ 0.77 $ 1.54 $ 0.98
Weighted average common shares outstanding        
Basic (in shares) 103,245 104,770 104,316 105,651
Diluted (in shares) 103,895 106,018 105,264 106,552
Software as a service and platform as a service        
Revenues        
Revenues $ 246,916 $ 223,367 $ 755,257 $ 674,498
License        
Revenues        
Revenues 161,957 157,429 303,161 252,984
Maintenance        
Revenues        
Revenues 51,420 47,559 150,483 144,046
Services        
Revenues        
Revenues $ 22,066 $ 23,397 $ 69,281 $ 69,722
[1] The cost of revenue excludes charges for depreciation and amortization.