| Schedule of Financial Information by Reportable Segment |
In accordance with segment reporting topic of the FASB Codification, we present below certain financial information by reportable segment for the three and six months ended June 30, 2025 and 2024 (in thousands):
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Three Months Ended June 30, |
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2025 |
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2024 |
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Americas |
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EMEA |
|
APAC |
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Consolidated |
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Americas |
|
EMEA |
|
APAC |
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Consolidated |
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Revenue: |
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Cloud subscriptions |
$ |
77,281 |
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$ |
19,675 |
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$ |
3,466 |
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$ |
100,422 |
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$ |
64,665 |
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$ |
15,371 |
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$ |
2,325 |
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$ |
82,361 |
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Software license |
|
908 |
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|
327 |
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|
293 |
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|
1,528 |
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|
2,430 |
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|
362 |
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|
269 |
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|
3,061 |
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Maintenance |
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27,786 |
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|
5,071 |
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2,200 |
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35,057 |
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28,621 |
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4,531 |
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|
2,121 |
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35,273 |
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Services |
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94,167 |
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27,186 |
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7,546 |
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128,899 |
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102,469 |
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26,632 |
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7,730 |
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136,831 |
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Hardware |
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6,464 |
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42 |
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9 |
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6,515 |
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7,770 |
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22 |
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- |
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7,792 |
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Total revenue |
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206,606 |
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52,301 |
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13,514 |
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272,421 |
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205,955 |
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46,918 |
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12,445 |
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265,318 |
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Costs and Expenses: |
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Cost of revenue |
$ |
83,745 |
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$ |
26,222 |
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$ |
6,248 |
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116,215 |
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89,818 |
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24,810 |
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|
5,413 |
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|
120,041 |
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Operating expenses |
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73,457 |
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6,074 |
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1,295 |
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80,826 |
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69,628 |
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4,673 |
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1,299 |
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|
75,600 |
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Depreciation and amortization |
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1,345 |
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|
198 |
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41 |
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1,584 |
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1,209 |
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240 |
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40 |
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1,489 |
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Restructuring charge |
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8 |
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- |
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- |
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8 |
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- |
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- |
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- |
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- |
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Total costs and expenses |
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158,555 |
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32,494 |
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7,584 |
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198,633 |
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160,655 |
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29,723 |
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6,752 |
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197,130 |
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Operating income |
$ |
48,051 |
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$ |
19,807 |
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$ |
5,930 |
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$ |
73,788 |
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$ |
45,300 |
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$ |
17,195 |
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$ |
5,693 |
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$ |
68,188 |
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Interest income |
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|
852 |
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1,503 |
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Other (loss) income, net |
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(137 |
) |
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(589 |
) |
Income before income taxes |
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$ |
74,503 |
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$ |
69,102 |
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Six Months Ended June 30, |
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2025 |
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2024 |
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Americas |
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EMEA |
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APAC |
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Consolidated |
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Americas |
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EMEA |
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APAC |
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Consolidated |
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Revenue: |
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Cloud subscriptions |
$ |
151,392 |
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$ |
36,882 |
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$ |
6,454 |
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$ |
194,728 |
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$ |
125,797 |
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$ |
29,872 |
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$ |
4,719 |
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$ |
160,388 |
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Software license |
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2,358 |
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7,863 |
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|
599 |
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10,820 |
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4,259 |
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|
848 |
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|
764 |
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5,871 |
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Maintenance |
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53,701 |
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9,242 |
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4,258 |
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67,201 |
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56,497 |
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9,205 |
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4,543 |
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|
70,245 |
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Services |
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181,664 |
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53,538 |
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14,824 |
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250,026 |
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201,584 |
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53,403 |
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14,039 |
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269,026 |
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Hardware |
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12,106 |
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|
318 |
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9 |
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12,433 |
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14,130 |
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210 |
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- |
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14,340 |
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Total revenue |
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401,221 |
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107,843 |
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26,144 |
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535,208 |
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402,267 |
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93,538 |
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24,065 |
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519,870 |
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Costs and Expenses: |
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Cost of revenue |
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166,547 |
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52,343 |
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11,892 |
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230,782 |
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178,800 |
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49,896 |
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10,632 |
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239,328 |
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Operating expenses |
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147,170 |
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11,599 |
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2,635 |
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161,404 |
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139,033 |
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10,106 |
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2,603 |
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|
151,742 |
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Depreciation and amortization |
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2,654 |
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|
391 |
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80 |
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3,125 |
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2,447 |
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|
457 |
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|
78 |
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|
2,982 |
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Restructuring expense |
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2,937 |
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- |
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- |
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2,937 |
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- |
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- |
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- |
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- |
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Total costs and expenses |
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319,308 |
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|
64,333 |
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|
14,607 |
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398,248 |
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|
320,280 |
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|
60,459 |
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|
13,313 |
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|
394,052 |
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Operating income |
$ |
81,913 |
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$ |
43,510 |
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$ |
11,537 |
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$ |
136,960 |
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$ |
81,987 |
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$ |
33,079 |
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$ |
10,752 |
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$ |
125,818 |
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Interest income |
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1,953 |
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2,917 |
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Other income (loss), net |
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|
99 |
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(1,007 |
) |
Income before income taxes |
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$ |
139,012 |
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$ |
127,728 |
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| Goodwill, Long-Lived Assets and Total Assets by Reportable Segment |
In the following table, we present goodwill, long-lived assets, and total assets by reportable segment as of June 30, 2025 and December 31, 2024 (in thousands):
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As of June 30, 2025 |
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As of December 31, 2024 |
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Americas |
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EMEA |
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APAC |
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Consolidated |
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Americas |
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EMEA |
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APAC |
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Consolidated |
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Goodwill, net |
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$ |
54,766 |
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$ |
5,515 |
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$ |
1,963 |
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$ |
62,244 |
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$ |
54,766 |
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$ |
5,497 |
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$ |
1,963 |
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$ |
62,226 |
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Long lived assets |
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|
84,831 |
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|
12,506 |
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|
2,262 |
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99,599 |
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|
83,517 |
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|
11,501 |
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|
2,538 |
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|
97,556 |
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Total assets |
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596,428 |
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|
122,090 |
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|
26,166 |
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|
744,684 |
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|
633,157 |
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|
102,222 |
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|
22,172 |
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|
757,551 |
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