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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues $ 1,416,722 $ 1,158,829 $ 1,050,464
Cost of revenues [1] 188,053 178,403 187,332
Gross profit 1,228,669 980,426 863,132
Operating expenses:      
Sales and marketing [1] 493,049 366,359 327,661
Research, development and engineering [1] 78,874 57,148 44,651
General and administrative [1] 456,777 418,579 402,597
Goodwill impairment on business 32,629 0 0
Total operating expenses 1,061,329 842,086 774,909
Income from operations 167,340 138,340 88,223
Interest expense, net (72,023) (56,188) (26,886)
Loss on debt extinguishment, net (5,274) 0 0
(Loss) gain on sale of businesses (21,798) 17,122 0
Impairment (16,677) (20,991) (4,211)
Unrealized gain on short-term investment 298,490 0 0
Other income (expense), net 1,293 65 (2,305)
Income from continuing operations before income taxes and income from equity method investment, net of income taxes 351,351 78,348 54,821
Income tax (benefit) expense (14,199) 38,350 13,760
Net investment income (loss) 35,845 (11,338) (168)
Net income from continuing operations 401,395 28,660 40,893
Income from discontinued operations, net of income taxes 95,319 122,008 177,913
Net income $ 496,714 $ 150,668 $ 218,806
Net income per common share from continuing operations:      
Basic (in dollars per share) $ 8.74 $ 0.62 $ 0.85
Diluted (in dollars per share) 8.38 0.61 0.83
Net income per common share from discontinued operations:      
Basic (in dollars per share) 2.08 2.62 3.69
Diluted (in dollars per share) 1.99 2.58 3.57
Net income per common share:      
Basic (in dollars per share) 10.81 3.24 4.52
Diluted (in dollars per share) $ 10.37 $ 3.18 $ 4.39
Weighted average shares outstanding:      
Basic (in shares) 45,893,928 46,308,825 47,647,397
Diluted (in shares) 47,862,745 47,115,609 49,025,684
Cash dividends paid per common share (in dollars per share) $ 0 $ 0 $ 0.90
Share-based compensation expense $ 24,129 $ 22,520 $ 22,466
Cost of revenues      
Weighted average shares outstanding:      
Share-based compensation expense 306 332 154
Sales and marketing      
Weighted average shares outstanding:      
Share-based compensation expense 1,288 1,011 946
Research, development and engineering      
Weighted average shares outstanding:      
Share-based compensation expense 1,984 1,396 976
General and administrative      
Weighted average shares outstanding:      
Share-based compensation expense $ 20,551 $ 19,781 $ 20,390
[1]
(1) Includes share-based compensation expense as follows:
Cost of revenues$306 $332 $154 
Sales and marketing1,288 1,011 946 
Research, development and engineering1,984 1,396 976 
General and administrative20,551 19,781 20,390 
Total$24,129 $22,520 $22,466