Business Segment

3 Months Ended

Mar. 31, 2025

Business Segment

Business Segment

Note 18. Business Segment

The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is our chief executive officer, who assesses financial performance for the Company and decides how to allocate resources based on consolidated net income. Segment asset information is provided to the CODM but it is not used to allocate resources.

The following table presents selected financial information with respect to the Company’s single operating segment for the three months ended March 31, 2025 and 2024:

	Three months ended March 31,
	2025		2024
	(in thousands)
Revenue:	$	192,563	$	252,372
Less:
Cost of revenue		103,795		136,321
Research and development		27,128		25,662
Sales and marketing		15,124		17,445
General and administrative		17,357		16,405
Total other income		3,925		2,460
Income tax provision		4,505		7,404
Segment Net Income		28,579		51,595
Reconciliation of profit or loss Adjustments and reconciling items		-		-
Net income	$	28,579	$	51,595

The above table includes depreciation expense and amortization expense of $4.3 million and $3.8 million for the three months ended March 31, 2025 and 2024, respectively.