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Unaudited Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Total revenues $ 406,303 $ 334,167 $ 1,259,079 $ 1,004,610
Cost of revenues        
Operating expenses 55,600 44,169 163,302 122,265
Depreciation and amortization 13,341 10,935 38,299 31,405
Total cost of revenues 68,941 55,104 201,601 153,670
Administrative expenses        
Sales and marketing 101,162 91,114 311,171 253,834
Research and development 51,864 40,366 143,651 108,774
General and administrative 71,827 60,693 213,397 179,109
Depreciation and amortization 15,608 12,625 44,660 36,378
Total administrative expenses 240,461 204,798 712,879 578,095
Total operating expenses 309,402 259,902 914,480 731,765
Operating income 96,901 74,265 344,599 272,845
Interest expense (222) (1,018) (1,661) (1,587)
Other income (expense), net 5,362 2,041 17,549 4,331
Income before income taxes 102,041 75,288 360,487 275,589
Provision for income taxes 26,822 23,135 101,456 74,151
Net income $ 75,219 $ 52,153 $ 259,031 $ 201,438
Earnings per share, basic $ 1.3 $ 0.9 $ 4.48 $ 3.48
Earnings per share, diluted $ 1.3 $ 0.9 $ 4.46 $ 3.46
Weighted average shares outstanding:        
Basic 57,825 57,865 57,871 57,949
Diluted 57,966 58,033 58,056 58,193
Comprehensive earnings (loss):        
Net income $ 75,219 $ 52,153 $ 259,031 $ 201,438
Unrealized net gains (losses) on available-for-sale securities 1,232 (2,705) 2,047 (4,881)
Tax effect (420) 492 (525) 1,068
Other comprehensive income (loss), net of tax 812 (2,213) 1,522 (3,813)
Comprehensive earnings (loss) 76,031 49,940 260,553 197,625
Recurring [Member]        
Revenues        
Total revenues 398,763 328,150 1,237,706 987,848
Implementation and Other [Member]        
Revenues        
Total revenues $ 7,540 $ 6,017 $ 21,373 $ 16,762