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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue        
Revenue $ 286,727 $ 277,626 $ 853,263 $ 810,421
Cost of revenue        
Cost of revenue 127,517 121,766 378,423 366,353
Gross profit 159,210 155,860 474,840 444,068
Operating expenses        
Sales, marketing and customer success 49,454 52,462 147,400 160,038
Research and development 39,368 37,965 121,238 114,702
General and administrative 25,645 42,596 106,842 154,582
Amortization 918 793 2,724 2,355
Total operating expenses 115,385 133,816 378,204 431,677
Income from operations 43,825 22,044 96,636 12,391
Interest expense (14,140) (9,620) (40,131) (31,449)
Other income, net 2,997 5,662 9,654 10,447
Income (loss) before provision (benefit) for income taxes 32,682 18,086 66,159 (8,611)
Income tax provision (benefit) 12,140 9,069 18,567 (5,032)
Net income (loss) $ 20,542 $ 9,017 $ 47,592 $ (3,579)
Earnings (loss) per share        
Basic earnings per share $ 0.41 $ 0.17 $ 0.93 $ (0.07)
Diluted earnings per share $ 0.40 $ 0.17 $ 0.91 $ (0.07)
Common shares and equivalents outstanding        
Basic weighted average shares 50,409,292 52,704,974 51,067,255 52,495,556
Diluted weighted average shares outstanding 51,632,569 54,089,897 52,107,147 52,495,556
Other comprehensive loss        
Foreign currency translation adjustment $ 6,463 $ (4,794) $ 5,617 $ 419
Unrealized (loss) gain on derivative instruments, net of tax (13,525) 4,093 (10,816) (1,216)
Total other comprehensive loss (7,062) (701) (5,199) (797)
Comprehensive income (loss) 13,480 8,316 42,393 (4,376)
Recurring [Member]        
Revenue        
Revenue 280,018 269,001 832,912 784,139
Cost of revenue        
Cost of revenue 122,646 114,132 361,644 342,558
One-time services and other [Member]        
Revenue        
Revenue 6,709 8,625 20,351 26,282
Cost of revenue        
Cost of revenue $ 4,871 $ 7,634 $ 16,779 $ 23,795