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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Total revenues $ 444,252 $ 356,976 $ 1,271,480 $ 1,020,353
Cost of revenues 64,302 55,822 185,462 171,755
Gross profit 379,950 301,154 1,086,018 848,598
Operating expenses:        
Sales and marketing 139,693 95,074 394,981 287,317
Research, development and engineering 21,639 14,261 62,634 43,273
General and administrative 122,477 114,381 359,498 312,283
Goodwill impairment on business 0 0 32,629 0
Total operating expenses 283,809 223,716 849,742 642,873
Income from operations 96,141 77,438 236,276 205,725
Interest expense, net (19,862) (22,712) (62,832) (65,879)
(Loss) gain on sale of businesses (24,600) 17,122 (21,798) 17,122
Loss on investments, net 0 (156) (16,677) (20,991)
Other income, net 1,660 14,230 1,367 16,413
Income before income taxes and (loss) income from equity method investment, net 53,339 85,922 136,336 152,390
Income tax expense 8,847 24,330 16,723 49,011
(Loss) income from equity method investment, net (1,923) (709) 16,596 (10,799)
Net income $ 42,569 $ 60,883 $ 136,209 $ 92,580
Net income per common share:        
Basic (in usd per share) $ 0.91 $ 1.31 $ 3.01 $ 1.96
Diluted (in usd per share) $ 0.88 $ 1.31 $ 2.86 $ 1.93
Weighted average shares outstanding:        
Basic (in shares) 46,738,073 46,279,515 45,258,819 46,914,750
Diluted (in shares) 48,582,585 46,309,072 47,565,062 47,620,308
Share-based compensation expense $ 6,755 $ 5,800 $ 19,119 $ 18,643
Cost of revenues        
Weighted average shares outstanding:        
Share-based compensation expense 108 136 357 413
Sales and marketing        
Weighted average shares outstanding:        
Share-based compensation expense 427 321 1,160 1,135
Research, development and engineering        
Weighted average shares outstanding:        
Share-based compensation expense 613 425 1,690 1,340
General and administrative        
Weighted average shares outstanding:        
Share-based compensation expense $ 5,607 $ 4,918 $ 15,912 $ 15,755