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Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue:    
Total revenue $ 190,266 $ 170,298
Operating expenses:    
Asset-based expenses 44,853 37,434
Spread-based expenses 389 293
Employee compensation 50,007 46,911
General and operating expenses 27,324 25,689
Professional fees 6,081 5,393
Depreciation and amortization 9,922 8,428
Total operating expenses 138,576 124,148
Interest expense 2,294 2,347
Other (income) expense, net (332) 19,865
Income before income taxes 49,728 23,938
Provision for income taxes 11,764 6,716
Net income 37,964 17,222
Net comprehensive income $ 37,964 $ 17,222
Net income per share attributable to common stockholders:    
Basic (in dollars per share) $ 0.51 $ 0.23
Diluted (in dollars per share) $ 0.50 $ 0.23
Weighted average number of common shares outstanding, basic (shares) 74,383,265 73,890,162
Weighted average number of common shares outstanding, diluted (shares) 75,269,626 74,370,353
Asset-based revenue    
Revenue:    
Total revenue $ 149,984 $ 131,039
Spread-based revenue    
Revenue:    
Total revenue 30,093 31,999
Subscription-based revenue    
Revenue:    
Total revenue 4,252 3,544
Other revenue    
Revenue:    
Total revenue $ 5,937 $ 3,716