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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenues $ 111,442 $ 120,400 $ 226,688 $ 242,315
Cost of revenues:        
Total cost of revenues 30,935 27,121 60,950 55,062
Gross profit 80,507 93,279 165,738 187,253
Operating expenses:        
Sales and marketing 34,251 37,660 67,702 73,766
Research and development 30,311 29,354 59,494 60,712
General and administrative 36,129 28,830 70,795 56,736
Digital asset impairment losses 180,090 24,143 371,723 43,054
Total operating expenses 280,781 119,987 569,714 234,268
Loss from operations (200,274) (26,708) (403,976) (47,015)
Interest expense, net (15,466) (11,095) (27,347) (26,025)
Gain on debt extinguishment 0 0 0 44,686
Other income (expense), net 694 (250) 2,390 (1,693)
Loss before income taxes (215,046) (38,053) (428,933) (30,047)
Benefit from income taxes (112,487) (60,296) (273,256) (513,483)
Net (loss) income $ (102,559) $ 22,243 $ (155,677) $ 483,436
Basic (loss) earnings per share (1) [1] $ (5.74) $ 1.68 $ (8.88) $ 41.18
Weighted average shares outstanding used in computing basic (loss) earnings per share 17,861 13,247 17,533 11,739
Diluted (loss) earnings per share (1) [1] $ (5.74) $ 1.52 $ (8.88) $ 33.56
Weighted average shares outstanding used in computing diluted (loss) earnings per share 17,861 16,095 17,533 14,534
Total product licenses and subscription services        
Revenues:        
Total revenues $ 33,366 $ 35,400 $ 69,270 $ 71,622
Cost of revenues:        
Total cost of revenues 10,354 7,660 19,525 16,050
Product licenses        
Revenues:        
Total revenues 9,286 15,522 22,224 32,934
Cost of revenues:        
Total cost of revenues 794 444 1,361 978
Subscription services        
Revenues:        
Total revenues 24,080 19,878 47,046 38,688
Cost of revenues:        
Total cost of revenues 9,560 7,216 18,164 15,072
Product support        
Revenues:        
Total revenues 61,740 66,081 124,425 131,562
Cost of revenues:        
Total cost of revenues 8,193 5,816 16,740 11,584
Other services        
Revenues:        
Total revenues 16,336 18,919 32,993 39,131
Cost of revenues:        
Total cost of revenues $ 12,388 $ 13,645 $ 24,685 $ 27,428
[1] Basic and fully diluted (loss) earnings per share for class A and class B common stock are the same.