v3.21.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Revenues $ 191,074 $ 206,730 $ 380,164 $ 358,076
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 42,659 47,761 85,882 88,141
Gross profit 148,415 158,969 294,282 269,935
Operating expenses:        
Sales and marketing 46,094 41,884 89,960 78,888
Research and development 32,112 22,884 60,622 44,207
General and administrative 34,202 33,015 63,372 61,483
Legal settlements, net 70,000 0 70,000 0
Total operating expenses 182,408 97,783 283,954 184,578
Income (loss) from operations (33,993) 61,186 10,328 85,357
Foreign currency exchange gain (loss), net 122 (33) 33 (171)
Interest expense (95) (456) (190) (923)
Interest income and other income (loss), net 21 6 49 32
Income (loss) before income taxes   (33,945) 60,703 10,220 84,295
Income tax (benefit) expense (8,192) 8,977 1,729 16,075
Net income (loss) $ (25,753) $ 51,726 $ 8,491 $ 68,220
Net income (loss) per share:        
Basic (in dollars per share) $ (1.41) $ 3.00 $ 0.46 $ 3.98
Diluted (in dollars per share) $ (1.41) $ 2.73 $ 0.43 $ 3.68
Weighted average shares outstanding:        
Basic (in shares) 18,298 17,231 18,330 17,148
Diluted (in shares) 18,298 [1] 18,927 19,549 18,558
Service        
Revenues:        
Revenues $ 181,817 $ 186,990 $ 360,837 $ 326,126
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 41,187 37,465 82,562 73,992
Product        
Revenues:        
Revenues 4,781 6,827 10,294 12,783
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 1,472 2,411 3,320 4,149
Insurance        
Revenues:        
Revenues 4,476 4,096 9,033 7,276
Customized postage        
Revenues:        
Revenues 0 8,817 0 11,891
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues $ 0 $ 7,885 $ 0 $ 10,000
[1] Common equivalent shares are excluded from the diluted loss per share as their effect is antidilutive.

Source