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Segment Reporting (Tables)
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Financial Information by Reportable Segment

In accordance with the segment reporting topic of the FASB Codification, we present below financial information by reportable segment for 2024, 2023 and 2022 (in thousands):

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Consolidated

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Consolidated

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cloud subscriptions

 

$

264,331

 

 

$

62,779

 

 

$

10,093

 

 

$

337,203

 

 

$

205,611

 

 

$

42,243

 

 

$

6,758

 

 

$

254,612

 

Software license

 

 

12,251

 

 

 

1,376

 

 

 

1,458

 

 

 

15,085

 

 

 

12,040

 

 

 

2,925

 

 

 

3,241

 

 

 

18,206

 

Maintenance

 

 

110,751

 

 

 

18,349

 

 

 

9,204

 

 

 

138,304

 

 

 

114,963

 

 

 

19,721

 

 

 

9,252

 

 

 

143,936

 

Services

 

 

389,550

 

 

 

107,384

 

 

 

28,583

 

 

 

525,517

 

 

 

362,979

 

 

 

101,254

 

 

 

23,636

 

 

 

487,869

 

Hardware

 

 

25,603

 

 

 

635

 

 

 

5

 

 

 

26,243

 

 

 

23,602

 

 

 

495

 

 

 

5

 

 

 

24,102

 

Total revenue

 

 

802,486

 

 

 

190,523

 

 

 

49,343

 

 

 

1,042,352

 

 

 

719,195

 

 

 

166,638

 

 

 

42,892

 

 

 

928,725

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

351,112

 

 

$

98,051

 

 

$

21,817

 

 

 

470,980

 

 

 

321,701

 

 

 

89,523

 

 

 

19,390

 

 

 

430,614

 

Operating expenses

 

 

278,803

 

 

 

19,062

 

 

 

5,610

 

 

 

303,475

 

 

 

257,172

 

 

 

19,889

 

 

 

5,417

 

 

 

282,478

 

Depreciation and amortization

 

 

5,228

 

 

 

914

 

 

 

159

 

 

 

6,301

 

 

 

5,164

 

 

 

503

 

 

 

85

 

 

 

5,752

 

Total costs and expenses

 

 

635,143

 

 

 

118,027

 

 

 

27,586

 

 

 

780,756

 

 

 

584,037

 

 

 

109,915

 

 

 

24,892

 

 

 

718,844

 

Operating income

 

$

167,343

 

 

$

72,496

 

 

$

21,757

 

 

$

261,596

 

 

$

135,158

 

 

$

56,723

 

 

$

18,000

 

 

$

209,881

 

Interest income

 

 

 

 

 

 

 

 

 

 

 

6,029

 

 

 

 

 

 

 

 

 

 

 

 

5,304

 

Other (loss) income, net

 

 

 

 

 

 

 

 

 

 

 

(811

)

 

 

 

 

 

 

 

 

 

 

 

(1,514

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

266,814

 

 

 

 

 

 

 

 

 

 

 

$

213,671

 

 

 

 

Year Ended December 31, 2022

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Consolidated

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Cloud subscriptions

 

$

148,943

 

 

$

22,988

 

 

$

4,527

 

 

$

176,458

 

Software license

 

 

16,364

 

 

 

6,380

 

 

 

2,104

 

 

 

24,848

 

Maintenance

 

 

113,258

 

 

 

19,784

 

 

 

9,156

 

 

 

142,198

 

Services

 

 

295,998

 

 

 

79,628

 

 

 

18,470

 

 

 

394,096

 

Hardware

 

 

29,321

 

 

 

158

 

 

 

5

 

 

 

29,484

 

Total revenue

 

 

603,884

 

 

 

128,938

 

 

 

34,262

 

 

 

767,084

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

 

271,222

 

 

 

71,108

 

 

 

15,907

 

 

 

358,237

 

Operating expenses

 

 

227,409

 

 

 

17,187

 

 

 

4,888

 

 

 

249,484

 

Depreciation and amortization

 

 

5,964

 

 

 

613

 

 

 

86

 

 

 

6,663

 

Total costs and expenses

 

 

504,595

 

 

 

88,908

 

 

 

20,881

 

 

 

614,384

 

Operating income

 

$

99,289

 

 

$

40,030

 

 

$

13,381

 

 

$

152,700

 

Interest income

 

 

 

 

 

 

 

 

 

 

 

596

 

Other (loss) income, net

 

 

 

 

 

 

 

 

 

 

 

4,825

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

158,121

 

Goodwill, Long-Lived Assets and Total Assets by Reportable Segment

In the following table, we present goodwill, long-lived assets, and total assets by reportable segment as of December 31, 2024 and 2023 (in thousands):

 

 

As of December 31, 2024

 

 

As of December 31, 2023

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Consolidated

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Consolidated

 

Goodwill, net

 

$

54,766

 

 

$

5,497

 

 

$

1,963

 

 

$

62,226

 

 

$

54,766

 

 

$

5,506

 

 

$

1,963

 

 

$

62,235

 

Long lived assets

 

 

83,517

 

 

 

11,501

 

 

 

2,538

 

 

 

97,556

 

 

 

53,061

 

 

 

10,129

 

 

 

2,696

 

 

 

65,886

 

Total assets

 

 

633,157

 

 

 

102,222

 

 

 

22,172

 

 

 

757,551

 

 

 

566,826

 

 

 

85,709

 

 

 

20,819

 

 

 

673,353