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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract]    
Revenue $ 57,114 $ 68,165
Cost of revenue [1] 17,350 17,846
Amortization of acquired technology 673 745
Gross profit 39,091 49,574
Operating expenses:    
Selling and marketing [1] 24,756 24,255
Product development [1] 2,609 3,118
General and administrative [1] 7,918 7,842
Depreciation, excluding depreciation of $845 and $622, respectively, included in cost of revenue 2,000 1,665
Amortization 1,493 2,012
Total operating expenses 38,776 38,892
Operating income 315 10,682
Interest and other income (expense), net 2,757 (560)
Income before provision for income taxes 3,072 10,122
Provision for income taxes 1,427 2,958
Net income 1,645 7,164
Other comprehensive income (loss), net of tax:    
Unrealized income (loss) on investments (net of tax provision effect of $18 and $(20), respectively) 63 (69)
Foreign currency translation gain (loss) 2,029 (2,695)
Other comprehensive income (loss) 2,092 (2,764)
Comprehensive income $ 3,737 $ 4,400
Net income per common share:    
Basic $ 0.06 $ 0.24
Diluted [2] $ 0.06 $ 0.23
Weighted average common shares outstanding:    
Basic 28,757,000 29,708,000
Diluted weighted average shares 28,953,106 34,414,257
[1] Amounts include stock-based compensation expense as follows:
[2] In calculating diluted net income per share, 1.3 million shares and 78 thousand shares related to outstanding stock options and unvested, undelivered restricted stock units were excluded for the three months ended March 31, 2023 and 2022, respectively. Additionally, for the three months ended March 31, 2023, the interest expense and amortization of note costs relating to the shares issuable upon conversion of our outstanding convertible notes were excluded from the calculation as they would have been anti-dilutive. For the three months ended March 31, 2022, in calculating diluted net income per share, we excluded the impact of interest expense and amortization of note costs relating to the shares issuable upon conversion of our outstanding convertible notes from net income and included the weighted average shares under the if-converted method. For each of the three months ended March 31, 2023, and 2022 interest expense including amortization of note issuance costs, related to convertible notes was $0.6 million. For each of the three months ended March 31, 2023, and 2022 the weighted average shares under the if-converted method for our convertible bond was 3.9 million shares.