XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Unaudited Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Total revenues $ 242,146 $ 181,587 $ 514,344 $ 423,955
Cost of revenues        
Operating expenses 28,773 23,257 57,846 47,373
Depreciation and amortization 7,637 6,301 14,837 12,231
Total cost of revenues 36,410 29,558 72,683 59,604
Administrative expenses        
Sales and marketing 67,979 56,064 130,740 111,082
Research and development 28,224 21,778 52,935 43,399
General and administrative 54,063 40,837 100,254 80,971
Depreciation and amortization 8,380 6,774 16,096 13,059
Total administrative expenses 158,646 125,453 300,025 248,511
Total operating expenses 195,056 155,011 372,708 308,115
Operating income 47,090 26,576 141,636 115,840
Interest expense   (3)   (19)
Other income (expense), net 146 162 775 (768)
Income before income taxes 47,236 26,735 142,411 115,053
Provision (benefit) for income taxes (5,042) (1,854) 25,517 23,449
Net income $ 52,278 $ 28,589 $ 116,894 $ 91,604
Earnings per share, basic $ 0.90 $ 0.50 $ 2.02 $ 1.59
Earnings per share, diluted $ 0.90 $ 0.49 $ 2.01 $ 1.57
Weighted average shares outstanding:        
Basic 57,853 57,568 57,797 57,611
Diluted 58,092 58,237 58,135 58,363
Recurring [Member]        
Revenues        
Total revenues $ 237,585 $ 177,950 $ 505,359 $ 416,445
Implementation and Other [Member]        
Revenues        
Total revenues $ 4,561 $ 3,637 $ 8,985 $ 7,510