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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenues $ 87,500 $ 92,792 $ 175,646 $ 184,246
Cost of revenues [1] 17,122 17,246 34,170 34,754
Gross profit 70,378 75,546 141,476 149,492
Operating expenses:        
Sales and marketing [1] 11,718 17,507 24,276 34,400
Research, development and engineering [1] 1,643 1,765 3,548 3,669
General and administrative [1] 17,136 17,432 36,104 38,584
Total operating expenses 30,497 36,704 63,928 76,653
Income from operations 39,881 38,842 77,548 72,839
Interest expense (8,657) (12,817) (14,856) (25,383)
Interest income 593 661 1,516 665
Other income (expense), net 663 568 4,565 (280)
Income before income taxes 32,480 27,254 68,773 47,841
Income tax expense 8,606 6,196 18,529 11,325
Net income $ 23,874 $ 21,058 $ 50,244 $ 36,516
Net income per common share:        
Basic (in dollars per share) $ 1.24 $ 1.07 $ 2.61 $ 1.85
Diluted (in dollars per share) $ 1.24 $ 1.07 $ 2.61 $ 1.85
Weighted average shares outstanding:        
Basic (in shares) 19,249,116 19,654,922 19,234,728 19,750,570
Diluted (in shares) 19,287,479 19,662,201 19,260,608 19,772,898
[1]
(1) Includes share-based compensation expense as follows:
Cost of revenues$481 $334 $984 $630 
Sales and marketing585 387 1,264 759 
Research, development and engineering70 52 165 92 
General and administrative2,602 3,890 5,775 8,322 
Total$3,738 $4,663 $8,188 $9,803