XML 13 R4.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 116,071 $ 129,462 $ 342,759 $ 371,777
Cost of revenues:        
Total cost of revenues 34,349 26,661 95,299 81,723
Gross profit 81,722 102,801 247,460 290,054
Operating expenses:        
Sales and marketing 35,414 35,606 103,116 109,372
Research and development 33,301 29,660 92,795 90,372
General and administrative 33,505 29,223 104,300 85,959
Digital asset impairment losses 412,084 33,559 783,807 76,613
Total operating expenses 514,304 128,048 1,084,018 362,316
Loss from operations (432,582) (25,247) (836,558) (72,262)
Interest expense, net (18,129) (11,006) (45,476) (37,031)
(Loss) gain on debt extinguishment (22,933) 0 (22,933) 44,686
Other (expense) income, net (5,034) 2,419 (2,644) 726
Loss before income taxes (478,678) (33,834) (907,611) (63,881)
(Benefit from) provision for income taxes (138,504) 109,607 (411,760) (403,876)
Net (loss) income $ (340,174) $ (143,441) $ (495,851) $ 339,995
Basic (loss) earnings per share (1) [1] $ (1.72) $ (1.01) $ (2.71) $ 2.91
Weighted average shares outstanding used in computing basic (loss) earnings per share 197,273 142,214 182,695 116,648
Diluted (loss) earnings per share (1) [1] $ (1.72) $ (1.01) $ (2.71) $ 2.39
Weighted average shares outstanding used in computing diluted (loss) earnings per share 197,273 142,214 182,695 145,125
Total product licenses and subscription services        
Revenues:        
Total revenues $ 38,887 $ 45,019 $ 108,157 $ 116,641
Cost of revenues:        
Total cost of revenues 12,223 8,370 31,748 24,420
Product licenses        
Revenues:        
Total revenues 11,087 24,045 33,311 56,979
Cost of revenues:        
Total cost of revenues 769 342 2,130 1,320
Subscription services        
Revenues:        
Total revenues 27,800 20,974 74,846 59,662
Cost of revenues:        
Total cost of revenues 11,454 8,028 29,618 23,100
Product support        
Revenues:        
Total revenues 61,015 66,860 185,440 198,422
Cost of revenues:        
Total cost of revenues 8,572 5,531 25,312 17,115
Other services        
Revenues:        
Total revenues 16,169 17,583 49,162 56,714
Cost of revenues:        
Total cost of revenues $ 13,554 $ 12,760 $ 38,239 $ 40,188
[1] Basic and fully diluted (loss) earnings per share for class A and class B common stock are the same.