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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Revenues $ 451,752 $ 363,015 $ 1,141,250 $ 976,016
Operating expenses        
Cost of revenue [1] 197,351 177,625 591,696 537,522
Research and development 37,660 33,739 108,063 106,122
Selling and marketing 28,691 29,442 83,992 98,166
General and administrative 33,949 29,821 84,942 92,675
Depreciation and amortization 31,515 30,464 86,710 93,439
Total operating expenses 329,166 301,091 955,403 927,924
Operating income 122,586 61,924 185,847 48,092
Other income (expense)        
Interest expense (18,356) (19,840) (55,837) (58,641)
Interest income 3,871 3,495 11,833 10,458
Other, net (823) 1,084 (1,692) (6,403)
Total other income (expense) (15,308) (15,261) (45,696) (54,586)
Income (loss) before income taxes 107,278 46,663 140,151 (6,494)
Income tax expense (benefit) 25,851 8,752 35,588 (5,387)
Net income (loss) $ 81,427 $ 37,911 $ 104,563 $ (1,107)
Income (loss) per common share        
Basic (in dollars per share) $ 0.78 $ 0.35 $ 0.99 $ (0.01)
Diluted (in dollars per share) $ 0.77 $ 0.35 $ 0.98 $ (0.01)
Weighted average common shares outstanding        
Basic (in shares) 104,770 108,667 105,651 108,428
Diluted (in shares) 106,018 108,933 106,552 108,428
Software as a service and platform as a service        
Revenues        
Revenues $ 223,367 $ 211,369 $ 674,498 $ 625,975
License        
Revenues        
Revenues 157,429 79,679 252,984 142,681
Maintenance        
Revenues        
Revenues 47,559 51,942 144,046 153,436
Services        
Revenues        
Revenues $ 23,397 $ 20,025 $ 69,722 $ 53,924
[1] The cost of revenue excludes charges for depreciation and amortization.