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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Total revenues $ 128,800 $ 98,227 $ 282,716 $ 217,735
Cost of revenues        
Operating expenses 17,677 15,609 38,245 30,695
Depreciation and amortization 3,254 2,267 6,291 4,327
Total cost of revenues 20,931 17,876 44,536 35,022
Administrative expenses        
Sales and marketing 31,647 27,430 63,999 53,009
Research and development 10,731 8,095 21,981 14,892
General and administrative 18,995 23,594 51,652 38,844
Depreciation and amortization 3,459 2,440 6,491 4,666
Total administrative expenses 64,832 61,559 144,123 111,411
Total operating expenses 85,763 79,435 188,659 146,433
Operating income 43,037 18,792 94,057 71,302
Interest expense (34) (281) (34) (538)
Other income, net 515 149 1,545 244
Income before income taxes 43,518 18,660 95,568 71,008
Provision for income taxes 7,796 (1,356) 18,686 17,298
Net income $ 35,722 $ 20,016 $ 76,882 $ 53,710
Earnings per share, basic $ 0.62 $ 0.34 $ 1.33 $ 0.93
Earnings per share, diluted $ 0.61 $ 0.34 $ 1.31 $ 0.91
Weighted average shares outstanding:        
Basic 57,837,312 57,898,914 57,815,290 57,623,107
Diluted 58,720,785 58,816,442 58,766,903 58,817,181
Recurring [Member]        
Revenues        
Total revenues $ 126,609 $ 96,351 $ 278,494 $ 214,265
Implementation and Other [Member]        
Revenues        
Total revenues $ 2,191 $ 1,876 $ 4,222 $ 3,470