Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.20.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Revenues $ 757,980 $ 571,850 $ 586,930
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):      
Total cost of revenues 178,816 155,216 126,909
Gross profit 579,164 416,634 460,021
Operating expenses:      
Sales and marketing 166,742 134,226 112,080
Research and development 95,600 78,041 56,591
General and administrative 118,670 110,804 96,951
Total operating expenses 381,012 323,071 265,622
Income from operations 198,152 93,563 194,399
Foreign currency exchange gain (loss), net (470) (506) (992)
Interest expense (1,114) (2,513) (2,595)
Interest income and other income, net 68 205 102
Income before income taxes 196,636 90,749 190,914
Income tax expense 17,971 31,520 22,272
Net income $ 178,665 $ 59,229 $ 168,642
Net income per share      
Basic (in USD per share) $ 10.15 $ 3.43 $ 9.39
Diluted (in USD per share) $ 9.37 $ 3.33 $ 8.99
Weighted average shares outstanding      
Basic (in shares) 17,600 17,260 17,952
Diluted (in shares) 19,059 17,795 18,762
Service      
Revenues:      
Revenues $ 705,544 $ 523,528 $ 530,682
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):      
Total cost of revenues 161,031 137,716 101,921
Product      
Revenues:      
Revenues 24,277 20,494 20,424
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):      
Total cost of revenues 7,785 6,349 6,153
Insurance      
Revenues:      
Revenues 16,268 13,102 16,189
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):      
Total cost of revenues 0 0 2,945
Customized postage      
Revenues:      
Revenues 11,891 14,726 19,583
Cost of revenues (exclusive of amortization of intangible assets, which is included in general and administrative expense):      
Total cost of revenues 10,000 11,151 15,890
Other      
Revenues:      
Revenues $ 0 $ 0 $ 52