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Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Total revenues $ 175,006 $ 133,288 $ 544,262 $ 416,004
Cost of revenues        
Operating expenses 21,088 18,158 66,153 56,403
Depreciation and amortization 5,304 3,967 14,796 10,258
Total cost of revenues 26,392 22,125 80,949 66,661
Administrative expenses        
Sales and marketing 47,060 37,183 128,280 101,182
Research and development 19,605 11,526 54,869 33,507
General and administrative 25,728 22,048 98,386 73,700
Depreciation and amortization 5,665 4,161 15,848 10,652
Total administrative expenses 98,058 74,918 297,383 219,041
Total operating expenses 124,450 97,043 378,332 285,702
Operating income 50,556 36,245 165,930 130,302
Interest expense (260) (384) (794) (418)
Other income (expense), net 195 583 (168) 2,128
Income before income taxes 50,491 36,444 164,968 132,012
Provision for income taxes 11,339 7,675 29,772 26,361
Net income $ 39,152 $ 28,769 $ 135,196 $ 105,651
Earnings per share, basic $ 0.68 $ 0.50 $ 2.35 $ 1.83
Earnings per share, diluted $ 0.67 $ 0.49 $ 2.31 $ 1.80
Weighted average shares outstanding:        
Basic 57,654 57,727 57,528 57,785
Diluted 58,383 58,545 58,403 58,724
Recurring [Member]        
Revenues        
Total revenues $ 171,405 $ 130,830 $ 534,267 $ 409,324
Implementation and Other [Member]        
Revenues        
Total revenues $ 3,601 $ 2,458 $ 9,995 $ 6,680