Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net revenues (note 10)	$ 83,985	$ 78,953	[1]
Cost of revenues (note 10)
Cost of revenues	53,188	51,932
Network expenses	2,416	2,395
Depreciation of property and equipment	2,877	1,801
Amortization of intangible assets	354	174
Total cost of revenues	58,835	56,302
Gross profit	25,150	22,651
Expenses:
Sales and marketing	8,985	8,741
Technical operations and development	2,751	2,523
General and administrative	4,741	4,448
Depreciation of property and equipment	113	124
Amortization of intangible assets (note 6)	2,947	1,866
Loss (gain) on currency forward contracts (note 5)	441	(79)
Total expenses	19,978	17,623
Income from operations	5,172	5,028
Other income (expenses):
Interest expense, net	(1,150)	(972)
Other income, net	(87)
Total other income (expenses)	(1,237)	(972)
Income before provision for income taxes	3,935	4,056
Provision for income taxes (note 8)	1,101	1,257
Net income for the period	2,834	2,799	[2]
Other comprehensive income, net of tax
Unrealized income (loss) on hedging activities (note 5)	(1,234)	549
Net amount reclassified to earnings (note 5)	43	61
Other comprehensive income (loss) net of tax (expense) recovery of $366 and ($194) for the periods ended March 31, 2020 and March 31, 2019, respectively (note 5)	(1,191)	610
Comprehensive income, net of tax for the period	$ 1,643	$ 3,409
Basic earnings per common share (note 9) (in dollars per share)	$ 0.27	$ 0.26
Shares used in computing basic earnings per common share (note 9) (in shares)	10,612,230	10,634,842
Diluted earnings per common share (note 9) (in dollars per share)	$ 0.26	$ 0.26
Shares used in computing diluted earnings per common share (note 9) (in shares)	10,713,678	10,835,897

[1] As a result of the bulk transfers of 2.89 million domain names to Namecheap throughout 2018, recognized revenue for the year ended December 31, 2018 includes $16.9 million, related to previously deferred revenue, a portion of which would have otherwise been recognized after December 31, 2018.

[2] The Company has initially applied ASC 2014-09 (Topic 606) on January 1, 2018 and ASC 2016-02 (Topic 842) on January 1, 2019. Both accounting standards were adopted using the modified retrospective method, under this method the comparative periods were not restated.