XML 41 R33.htm IDEA: XBRL DOCUMENT v3.25.2
Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Company 's Revenues Expenses and Net (Loss) for Each Reportable Segment Consistant with Net Income (Loss) As Reported On Consolidated Statements of Comprehensive Income

The table below highlights the Company’s revenues, expenses and net income for our single reportable segment, which are consistent with amounts reported on the consolidated statements of comprehensive income for the three and six months ended June 30, 2025 and 2024.

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

Recurring

 

$

449.1

 

 

$

399.6

 

 

$

942.5

 

 

$

859.6

 

Implementation and other

 

 

6.0

 

 

 

5.9

 

 

 

12.6

 

 

 

12.0

 

Interest on funds held for clients

 

 

28.5

 

 

 

32.0

 

 

 

59.0

 

 

 

65.8

 

Total revenues

 

 

483.6

 

 

 

437.5

 

 

 

1,014.1

 

 

 

937.4

 

Cost of revenues

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

68.4

 

 

 

67.5

 

 

 

134.8

 

 

 

131.1

 

Depreciation and amortization

 

 

19.1

 

 

 

16.4

 

 

 

37.4

 

 

 

31.4

 

Total cost of revenues

 

 

87.5

 

 

 

83.9

 

 

 

172.2

 

 

 

162.5

 

Gross profit

 

 

396.1

 

 

 

353.6

 

 

 

841.9

 

 

 

774.9

 

Administrative expenses

 

 

 

 

 

 

 

 

 

 

 

 

Sales and marketing

 

 

116.0

 

 

 

106.9

 

 

 

226.9

 

 

 

222.4

 

Research and development

 

 

74.8

 

 

 

62.4

 

 

 

137.1

 

 

 

112.9

 

General and administrative

 

 

70.2

 

 

 

70.1

 

 

 

135.9

 

 

 

22.0

 

Depreciation and amortization

 

 

22.8

 

 

 

19.2

 

 

 

44.5

 

 

 

36.7

 

Total administrative expenses

 

 

283.8

 

 

 

258.5

 

 

 

544.4

 

 

 

393.9

 

Total operating expenses

 

 

371.3

 

 

 

342.4

 

 

 

716.6

 

 

 

556.4

 

Operating income

 

 

112.3

 

 

 

95.1

 

 

 

297.5

 

 

 

381.0

 

Interest expense

 

 

(0.8

)

 

 

(0.8

)

 

 

(1.6

)

 

 

(1.6

)

Other income (expense), net

 

 

5.7

 

 

 

4.8

 

 

 

11.6

 

 

 

9.8

 

Income before income taxes

 

 

117.2

 

 

 

99.1

 

 

 

307.5

 

 

 

389.2

 

Provision for income taxes

 

 

27.7

 

 

 

31.2

 

 

 

78.6

 

 

 

74.0

 

Net income

 

$

89.5

 

 

$

68.0

 

 

$

228.9

 

 

$

315.2