| Schedule of significant expenses categories and measures of segment profit (loss) |
| | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended June 30, | | For the six months ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | | (unaudited) | | (unaudited) | Total Revenues | $ | 184,559 | | $ | 161,104 | | $ | 361,621 | | $ | 317,885 | Less: | | | | | | | | | | | | Cost of revenues – software subscriptions | | 44,459 | | | 42,261 | | | 88,704 | | | 87,389 | Cost of revenues – services | | 18,900 | | | 16,155 | | | 38,723 | | | 32,016 | Research & development | | 20,582 | | | 14,614 | | | 41,468 | | | 31,459 | Selling & marketing | | 48,454 | | | 40,541 | | | 96,609 | | | 81,032 | General & administrative | | 43,392 | | | 35,874 | | | 88,420 | | | 71,416 | Depreciation & amortization | | 6,187 | | | 5,212 | | | 12,067 | | | 10,218 | Change in fair value of acquisition contingent earn-outs | | 2,300 | | | — | | | (12,400) | | | — | Other segment items (1) | | 4,149 | | | (1,098) | | | 7,408 | | | (1,625) | Interest (income) expense, net | | (1,228) | | | 181 | | | (2,767) | | | 467 | Income tax expense (benefit) | | (1,675) | | | 2,200 | | | (6,780) | | | (2,335) | Net income (loss) (GAAP) | $ | (961) | | $ | 5,164 | | $ | 10,169 | | $ | 7,848 | Adjustments: | | | | | | | | | | | | Interest expense (income), net | | (1,228) | | | 181 | | | (2,767) | | | 467 | Income tax expense (benefit) | | (1,675) | | | 2,200 | | | (6,780) | | | (2,335) | Depreciation and amortization – property and equipment | | 6,187 | | | 5,212 | | | 12,067 | | | 10,218 | Depreciation and amortization of capitalized software and acquired intangible assets – cost of subscription revenues | | 16,670 | | | 14,578 | | | 32,525 | | | 29,925 | Amortization of acquired intangible assets – selling and marketing expense | | 571 | | | 592 | | | 1,102 | | | 1,187 | Amortization of cloud computing implementation costs – general and administrative | | 1,018 | | | 995 | | | 2,024 | | | 1,989 | Stock-based compensation expense | | 11,990 | | | 10,001 | | | 33,034 | | | 26,325 | Severance expense | | 317 | | | 619 | | | 774 | | | 1,461 | Acquisition contingent consideration | | 200 | | | (1,575) | | | 200 | | | (2,375) | Change in fair value of acquisition contingent earn-outs | | 2,300 | | | — | | | (12,400) | | | — | Transaction costs (2) | | 2,980 | | | 548 | | | 5,640 | | | 548 | Adjusted EBITDA (Non-GAAP) | $ | 38,369 | | $ | 38,515 | | $ | 75,588 | | $ | 75,258 | (1) Other segment items include professional fees, contracted labor, transaction costs, acquisition related earn-out adjustments and foreign currency exchange gains (losses). | (2) The current year periods include legal expenses associated with pending litigation related to claims the Company has made against a competitor. For further information, refer to Note 12, “Commitments and Contingencies” to the condensed consolidated financial statements. |
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