(Unaudited)
|
Three Months Ended
March 31, | ||||||||
| (in thousands, except per share data) | 2024 | 2023 | ||||||
| Revenue | ||||||||
| License | $ | 117,707 | $ | 112,409 | ||||
| Maintenance and other services | 40,722 | 37,234 | ||||||
| Total software | 158,429 | 149,643 | ||||||
| Engineering services and other | 14,483 | 16,391 | ||||||
| Total revenue | 172,912 | 166,034 | ||||||
| Cost of revenue | ||||||||
| License | 4,490 | 4,824 | ||||||
| Maintenance and other services | 14,166 | 14,426 | ||||||
| Total software * | 18,656 | 19,250 | ||||||
| Engineering services and other | 12,237 | 13,485 | ||||||
| Total cost of revenue | 30,893 | 32,735 | ||||||
| Gross profit | 142,019 | 133,299 | ||||||
| Operating expenses: | ||||||||
| Research and development * | 52,333 | 53,251 | ||||||
| Sales and marketing * | 44,434 | 43,492 | ||||||
| General and administrative * | 17,761 | 17,951 | ||||||
| Amortization of intangible assets | 7,438 | 7,814 | ||||||
| Other operating (income) expense, net | (882 | ) | 5,605 | |||||
| Total operating expenses | 121,084 | 128,113 | ||||||
| Operating income | 20,935 | 5,186 | ||||||
| Interest expense | 1,576 | 1,526 | ||||||
| Other income, net | (3,957 | ) | (3,613 | ) | ||||
| Income before income taxes | 23,316 | 7,273 | ||||||
| Income tax expense | 6,769 | 9,232 | ||||||
| Net income (loss) | $ | 16,547 | $ | (1,959 | ) | |||
| Income (loss) per share: | ||||||||
| Net income (loss) per share attributable to common stockholders, basic | $ | 0.20 | $ | (0.02 | ) | |||
| Net income (loss) per share attributable to common stockholders, diluted | $ | 0.20 | $ | (0.02 | ) | |||
| Weighted average shares outstanding: | ||||||||
| Weighted average number of shares used in computing net income (loss) per share, basic | 82,587 | 80,191 | ||||||
| Weighted average number of shares used in computing net income (loss) per share, diluted | 89,806 | 80,191 | ||||||
* Amounts include stock-based compensation expense as follows (in thousands):
