Consolidated Statements of Operations
(in thousands, except share and per share data)
(unaudited)
|
|
|
Three Months Ended |
|
Six Months Ended |
||||||||||||
|
|
|
June 30, |
|
June 30, |
||||||||||||
|
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
||||||||
|
Revenues: |
|
|
|
|
|
|
|
|
||||||||
|
Subscriptions |
|
$ |
232,191 |
|
|
$ |
186,442 |
|
|
$ |
473,424 |
|
|
$ |
374,567 |
|
|
Perpetual licenses |
|
|
11,548 |
|
|
|
11,391 |
|
|
|
21,753 |
|
|
|
21,507 |
|
|
Subscriptions and licenses |
|
|
243,739 |
|
|
|
197,833 |
|
|
|
495,177 |
|
|
|
396,074 |
|
|
Services |
|
|
24,546 |
|
|
|
26,088 |
|
|
|
48,625 |
|
|
|
49,852 |
|
|
Total revenues |
|
|
268,285 |
|
|
|
223,921 |
|
|
|
543,802 |
|
|
|
445,926 |
|
|
Cost of revenues: |
|
|
|
|
|
|
|
|
||||||||
|
Cost of subscriptions and licenses |
|
|
36,806 |
|
|
|
29,881 |
|
|
|
70,533 |
|
|
|
58,826 |
|
|
Cost of services |
|
|
22,888 |
|
|
|
23,570 |
|
|
|
44,946 |
|
|
|
43,914 |
|
|
Total cost of revenues |
|
|
59,694 |
|
|
|
53,451 |
|
|
|
115,479 |
|
|
|
102,740 |
|
|
Gross profit |
|
|
208,591 |
|
|
|
170,470 |
|
|
|
428,323 |
|
|
|
343,186 |
|
|
Operating expense (income): |
|
|
|
|
|
|
|
|
||||||||
|
Research and development |
|
|
64,866 |
|
|
|
52,776 |
|
|
|
126,139 |
|
|
|
100,579 |
|
|
Selling and marketing |
|
|
49,617 |
|
|
|
38,014 |
|
|
|
95,562 |
|
|
|
70,454 |
|
|
General and administrative |
|
|
40,033 |
|
|
|
41,683 |
|
|
|
91,187 |
|
|
|
74,904 |
|
|
Deferred compensation plan |
|
|
(12,159 |
) |
|
|
195 |
|
|
|
(17,297 |
) |
|
|
362 |
|
|
Amortization of purchased intangibles |
|
|
10,517 |
|
|
|
4,589 |
|
|
|
20,423 |
|
|
|
8,027 |
|
|
Total operating expenses |
|
|
152,874 |
|
|
|
137,257 |
|
|
|
316,014 |
|
|
|
254,326 |
|
|
Income from operations |
|
|
55,717 |
|
|
|
33,213 |
|
|
|
112,309 |
|
|
|
88,860 |
|
|
Interest expense, net |
|
|
(7,622 |
) |
|
|
(2,453 |
) |
|
|
(14,664 |
) |
|
|
(4,772 |
) |
|
Other income (expense), net |
|
|
3,497 |
|
|
|
(3,777 |
) |
|
|
14,138 |
|
|
|
10,705 |
|
|
Income before income taxes |
|
|
51,592 |
|
|
|
26,983 |
|
|
|
111,783 |
|
|
|
94,793 |
|
|
Benefit for income taxes |
|
|
4,674 |
|
|
|
20,473 |
|
|
|
1,443 |
|
|
|
10,115 |
|
|
Loss from investment accounted for using the equity method, net of tax |
|
|
(593 |
) |
|
|
(1,829 |
) |
|
|
(1,165 |
) |
|
|
(2,275 |
) |
|
Net income |
|
|
55,673 |
|
|
|
45,627 |
|
|
|
112,061 |
|
|
|
102,633 |
|
|
Less: Net income attributable to participating securities |
|
|
(11 |
) |
|
|
(3 |
) |
|
|
(20 |
) |
|
|
(3 |
) |
|
Net income attributable to Class A and Class B common stockholders |
|
$ |
55,662 |
|
|
$ |
45,624 |
|
|
$ |
112,041 |
|
|
$ |
102,630 |
|
|
Per share information: |
|
|
|
|
|
|
|
|
||||||||
|
Net income per share, basic |
|
$ |
0.18 |
|
|
$ |
0.15 |
|
|
$ |
0.36 |
|
|
$ |
0.34 |
|
|
Net income per share, diluted |
|
$ |
0.17 |
|
|
$ |
0.14 |
|
|
$ |
0.35 |
|
|
$ |
0.32 |
|
|
Weighted average shares, basic |
|
|
308,244,778 |
|
|
|
304,066,038 |
|
|
|
308,512,924 |
|
|
|
303,311,423 |
|
|
Weighted average shares, diluted |
|
|
332,275,216 |
|
|
|
324,478,086 |
|
|
|
332,208,435 |
|
|
|
323,094,045 |
|
