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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
NET REVENUES $ 121,129 $ 114,159 $ 337,625 $ 306,212
COST OF REVENUES 61,560 56,028 168,040 151,035
GROSS PROFIT 59,569 58,131 169,585 155,177
OPERATING EXPENSES:        
Research and development 20,868 17,957 59,790 55,172
Sales and marketing 13,658 13,452 40,168 39,678
General and administrative 10,302 9,224 26,867 26,948
Total operating expenses 44,828 40,633 126,825 121,798
INCOME FROM OPERATIONS 14,741 17,498 42,760 33,379
OTHER INCOME 877 1,078 4,134 3,540
INCOME BEFORE INCOME TAXES 15,618 18,576 46,894 36,919
PROVISION FOR INCOME TAXES 798 1,477 2,996 1,742
NET INCOME $ 14,820 $ 17,099 $ 43,898 $ 35,177
EARNINGS PER SHARE:        
Basic (in dollars per share) [1] $ 0.25 $ 0.29 $ 0.74 $ 0.60
Diluted (in dollars per share) [1],[2] $ 0.24 $ 0.29 $ 0.72 $ 0.59
SHARES USED IN PER SHARE CALCULATION:        
Basic (in shares) [1] 59,823 58,770 59,582 58,426
Diluted (in shares) [1] 60,852 59,732 60,668 59,418
[1] The Earnings Per Share and Shares Used in Per Share Calculation information presented above reflects the effect of the August 2020 stock split. Refer to Note 9, Earnings Per Share, in this Form 10-Q for details.
[2] The Company includes the shares underlying performance-based awards in the calculation of diluted earnings per share if the performance conditions have been satisfied as of the end of the reporting period and excludes such shares when the necessary conditions have not been met. The Company has excluded the shares underlying the outstanding performance-based awards in the 2020 and 2019 calculations as the shares were not contingently issuable as of the end of the reporting periods.