v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS (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
Revenues:        
Revenues $ 193,917 $ 136,172 $ 551,993 $ 410,948
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 43,952 38,202 132,093 110,982
Gross profit 149,965 97,970 419,900 299,966
Operating expenses:        
Sales and marketing 41,748 33,058 120,636 99,181
Research and development 24,739 20,281 68,946 56,725
General and administrative 28,856 28,980 90,339 82,743
Total operating expenses 95,343 82,319 279,921 238,649
Income from operations 54,622 15,651 139,979 61,317
Foreign currency exchange gain (loss), net (67) (38) (238) (285)
Interest expense (96) (589) (1,019) (1,948)
Interest income and other income (loss), net 27 53 59 170
Income before income taxes   54,486 15,077 138,781 59,254
Income tax (benefit) expense (9,485) 5,929 6,590 20,359
Net income $ 63,971 $ 9,148 $ 132,191 $ 38,895
Net income per share:        
Basic (in dollars per share) $ 3.59 $ 0.53 $ 7.61 $ 2.24
Diluted (in dollars per share) $ 3.30 $ 0.52 $ 7.02 $ 2.19
Weighted average shares outstanding:        
Basic (in shares) 17,826 17,144 17,376 17,326
Diluted (in shares) 19,406 17,441 18,842 17,753
Service        
Revenues:        
Revenues $ 183,779 $ 124,643 $ 509,905 $ 375,979
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 41,998 34,040 115,990 98,727
Product        
Revenues:        
Revenues 5,816 5,116 18,599 15,306
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues 1,954 1,602 6,103 4,824
Insurance        
Revenues:        
Revenues 4,322 3,106 11,598 9,871
Customized postage        
Revenues:        
Revenues 0 3,307 11,891 9,792
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):        
Total cost of revenues $ 0 $ 2,560 $ 10,000 $ 7,431

Source