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SEGMENT DISCLOSURES (Tables)

9 Months Ended

Sep. 30, 2025

SEGMENT DISCLOSURES

Schedule of significant expense categories and measures of segment income

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​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​
​	For the three months ended September 30,					​	For the nine months ended September 30,
​	2025		​	2024		​	2025		​	2024
​	(unaudited)					​	(unaudited)
Total Revenues	$	192,112	​	$	170,435	​	$	553,733	​	$	488,320
Less:	​	​	​	​	​	​	​	​	​	​	​
Cost of revenues – software subscriptions	​	50,034	​	​	43,641	​	​	138,738	​	​	131,030
Cost of revenues – services	​	20,762	​	​	16,270	​	​	59,485	​	​	48,286
Research & development	​	19,929	​	​	15,621	​	​	61,397	​	​	47,080
Selling & marketing	​	47,385	​	​	42,111	​	​	143,994	​	​	123,143
General & administrative	​	44,609	​	​	41,499	​	​	133,029	​	​	112,915
Depreciation & amortization	​	6,372	​	​	5,214	​	​	18,439	​	​	15,432
Change in fair value of acquisition contingent earn-outs	​	(4,000)	​	​	—	​	​	(16,400)	​	​	—
Other segment items (1)	​	2,701	​	​	1,183	​	​	10,109	​	​	(442)
Interest income, net	​	(1,245)	​	​	(2,938)	​	​	(4,012)	​	​	(2,471)
Income tax expense (benefit)	​	1,520	​	​	613	​	​	(5,260)	​	​	(1,722)
Net income (GAAP)	$	4,045	​	$	7,221	​	$	14,214	​	$	15,069
Adjustments:	​	​	​	​	​	​	​	​	​	​	​
Interest income, net	​	(1,245)	​	​	(2,938)	​	​	(4,012)	​	​	(2,471)
Income tax expense (benefit)	​	1,520	​	​	613	​	​	(5,260)	​	​	(1,722)
Depreciation and amortization – property and equipment	​	6,372	​	​	5,214	​	​	18,439	​	​	15,432
Depreciation and amortization of capitalized software and acquired intangible assets – cost of subscription revenues	​	18,143	​	​	14,198	​	​	50,668	​	​	44,123
Amortization of acquired intangible assets – selling and marketing expense	​	588	​	​	706	​	​	1,690	​	​	1,893
Amortization of cloud computing implementation costs – general and administrative expense	​	871	​	​	1,005	​	​	2,895	​	​	2,994
Stock-based compensation expense	​	13,215	​	​	10,134	​	​	46,249	​	​	36,459
Severance expense	​	1,199	​	​	927	​	​	1,973	​	​	2,388
Acquisition contingent consideration	​	—	​	​	100	​	​	200	​	​	(2,275)
Change in fair value of acquisition contingent earn-outs	​	(4,000)	​	​	—	​	​	(16,400)	​	​	—
Transaction costs (2)	​	2,785	​	​	1,443	​	​	8,425	​	​	1,991
Adjusted EBITDA (Non-GAAP)	$	43,493	​	$	38,623	​	$	119,081	​	$	113,881
(1) Other segment items include professional fees, contracted labor, transaction costs, acquisition related earn-out adjustments and foreign currency exchange gains (losses).
(2) The current year periods include legal expenses associated with pending litigation related to claims the Company has made against a competitor. For further information, refer to Note 12, “Commitments and Contingencies” to the condensed consolidated financial statements.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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