(Unaudited)
|
Three Months Ended
June 30, |
Six Months Ended
June 30, | |||||||||||||||
| (in thousands, except per share data) | 2021 | 2020 | 2021 | 2020 | ||||||||||||
| Revenue | ||||||||||||||||
| License | $ | 66,632 | $ | 51,018 | $ | 163,027 | $ | 128,561 | ||||||||
| Maintenance and other services | 32,926 | 30,815 | 66,072 | 61,715 | ||||||||||||
| Total software | 99,558 | 81,833 | 229,099 | 190,276 | ||||||||||||
| Software related services | 7,481 | 5,444 | 15,579 | 12,378 | ||||||||||||
| Total software and related services | 107,039 | 87,277 | 244,678 | 202,654 | ||||||||||||
| Client engineering services | 10,268 | 9,640 | 20,945 | 23,518 | ||||||||||||
| Other | 2,605 | 1,644 | 4,452 | 3,852 | ||||||||||||
| Total revenue | 119,912 | 98,561 | 270,075 | 230,024 | ||||||||||||
| Cost of revenue | ||||||||||||||||
| License | 3,617 | 2,851 | 9,012 | 8,374 | ||||||||||||
| Maintenance and other services | 12,043 | 8,502 | 23,598 | 18,957 | ||||||||||||
| Total software * | 15,660 | 11,353 | 32,610 | 27,331 | ||||||||||||
| Software related services | 5,731 | 4,656 | 11,853 | 10,145 | ||||||||||||
| Total software and related services | 21,391 | 16,009 | 44,463 | 37,476 | ||||||||||||
| Client engineering services | 8,293 | 7,789 | 17,181 | 19,107 | ||||||||||||
| Other | 2,262 | 1,283 | 3,724 | 2,995 | ||||||||||||
| Total cost of revenue | 31,946 | 25,081 | 65,368 | 59,578 | ||||||||||||
| Gross profit | 87,966 | 73,480 | 204,707 | 170,446 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development * | 38,757 | 28,970 | 77,033 | 60,437 | ||||||||||||
| Sales and marketing * | 31,909 | 25,806 | 63,979 | 53,905 | ||||||||||||
| General and administrative * | 21,861 | 20,248 | 45,787 | 42,594 | ||||||||||||
| Amortization of intangible assets | 4,615 | 3,692 | 9,492 | 7,532 | ||||||||||||
| Other operating income, net | (585 | ) | (944 | ) | (1,202 | ) | (1,835 | ) | ||||||||
| Total operating expenses | 96,557 | 77,772 | 195,089 | 162,633 | ||||||||||||
| Operating (loss) income | (8,591 | ) | (4,292 | ) | 9,618 | 7,813 | ||||||||||
| Interest expense | 2,988 | 2,843 | 5,961 | 5,656 | ||||||||||||
| Other expense (income), net | 708 | 320 | 1,543 | (1,070 | ) | |||||||||||
| (Loss) income before income taxes | (12,287 | ) | (7,455 | ) | 2,114 | 3,227 | ||||||||||
| Income tax expense | 1,361 | 2,768 | 1,402 | 7,420 | ||||||||||||
| Net (loss) income | $ | (13,648 | ) | $ | (10,223 | ) | $ | 712 | $ | (4,193 | ) | |||||
| (Loss) income per share: | ||||||||||||||||
| Net (loss) income per share attributable to common
stockholders, basic | $ | (0.18 | ) | $ | (0.14 | ) | $ | 0.01 | $ | (0.06 | ) | |||||
| Net (loss) income per share attributable to common
stockholders, diluted | $ | (0.18 | ) | $ | (0.14 | ) | $ | 0.01 | $ | (0.06 | ) | |||||
| Weighted average shares outstanding: | ||||||||||||||||
| Weighted average number of shares used in computing
net (loss) income per share, basic | 75,263 | 72,999 | 74,959 | 72,811 | ||||||||||||
| Weighted average number of shares used in computing
net (loss) income per share, diluted | 75,263 | 72,999 | 79,851 | 72,811 | ||||||||||||
