v3.26.1
Segment and Related Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment and Related Information Segment and Related Information
Reportable segments are determined based on the Company’s management approach. The management approach, as defined by FASB ASC 280 “Segment Reporting,” is based on the way that the Chief Operating Decision Maker (“CODM”) organizes the segments within an enterprise for making decisions about resources to be allocated and assessing their performance. Our CODM, for purposes of FASB ASC 280, is our chief executive officer.
We report our results in two reportable segments. Our reportable segments are organized on the basis of a combination of the products and services they deliver to clients and the function that the public sector client performs. Operating segments that have met the aggregation criteria have been combined into our two reportable segments. The Enterprise Software (“ES”) reportable segment provides public sector entities with software systems and services to meet their information technology and automation needs for mission-critical “back-office” functions such as: public administration solutions, courts and public safety solutions, education solutions, and property and recording solutions. The Platform Technologies (“PT”) reportable segment provides public sector entities with platform and transformative solutions including digital solutions, payment processing, streamlined data processing, and improved operations and workflows.
The CODM uses segment operating income or loss to assess performance and to allocate resources (including employees, property, and financial or capital resources) for each segment, predominantly in the annual budget and forecasting process. During the fiscal periods presented, we had no significant transactions between reportable segments. Corporate unallocated amounts are comprised of non-cash amortization of intangible assets associated with acquisitions, depreciation associated with unallocated property and equipment assets, compensation costs for the executive management team and certain shared services staff such as internal infrastructure costs and share-based compensation expense for the entire company. Corporate unallocated amounts also include incidental revenues and expenses related to a company-wide user conference and rental income.
Revenue from certain product offerings, along with related expenses, for the prior period has been reclassified to conform to their current period presentation. Furthermore, certain depreciation and amortization expenses for the prior periods have been reclassified to corporate unallocated to be consistent with the current year presentation that better aligns with the Corporate classification of certain assets on the condensed consolidated balance sheets as Corporate. These changes had no impact on the Company's consolidated results of operations, financial position, or cash flows.
For the three months ended June 30, 2026Enterprise
Software		Platform TechnologiesTotals
Revenues   
Subscriptions:
SaaS$207,658 $22,983 
Transaction-based fees100,296 122,787 
Maintenance100,348 5,462 
Professional services54,737 8,429 
Other 13,293 1,196 
Total segment revenues476,332 160,857 637,189 
Less:
Cost of revenues201,382 108,420 
Sales and marketing expense27,052 4,565 
General and administrative expense18,589 11,393 
Research and development expense51,284 4,091 
Segment operating income
$178,025 $32,388 $210,413 
For the three months ended June 30, 2025Enterprise
Software		Platform TechnologiesTotals
Revenues
Subscriptions:
SaaS$168,232 $21,339 
Transaction-based fees89,246 126,258 
Maintenance106,779 5,344 
Professional services56,862 1,750 
Other 12,796 (55)
Total segment revenues433,915 154,636 588,551 
Less:
Cost of revenues186,119 107,323 
Sales and marketing expense24,971 5,034 
General and administrative expense10,867 13,374 
Research and development expense39,395 4,215 
Segment operating income
$172,563 $24,690 $197,253 
For the six months ended June 30, 2026Enterprise
Software		Platform TechnologiesTotals
Revenues
Subscriptions:
SaaS$407,790 $45,207 
Transaction-based fees195,335 235,137 
Maintenance203,675 11,009 
Professional services107,995 15,978 
Other26,290 1,589 
Total segment revenues941,085 308,920 1,250,005 
Less:
Cost of revenues394,245 211,761 
Sales and marketing expense52,428 9,472 
General and administrative expense30,109 29,407 
Research and development expense100,018 8,167 
Segment operating income$364,285 $50,113 $414,398 
For the six months ended June 30, 2025Enterprise
Software		Platform TechnologiesTotals
Revenues
Subscriptions:
SaaS$326,973 $42,678 
Transaction-based fees159,085 251,328 
Maintenance213,758 11,166 
Professional services111,455 11,207 
Other25,390 (14)
Total segment revenues836,661 316,365 1,153,026 
Less:
Cost of revenues355,406 216,316 
Sales and marketing expense50,238 9,765 
General and administrative expense22,459 26,775 
Research and development expense77,075 8,533 
Segment operating income$331,483 $54,976 $386,459 
Three Months Ended June 30,Six Months Ended June 30,
Reconciliation of reportable segment operating income to the Company's consolidated totals:2026202520262025
Total segment operating income$210,413 $197,253 $414,398 $386,459 
Corporate unallocated:
Total revenues7,907 7,566 8,594 8,256 
Cost of revenues(28,237)(29,491)(49,102)(49,295)
Sales and marketing expense(8,234)(6,307)(16,748)(12,782)
General and administrative expense(63,751)(52,360)(118,182)(106,819)
Research and development expense(7,457)(7,232)(14,374)(13,078)
Amortization of other intangibles(15,546)(13,833)(29,679)(27,972)
Interest expense(2,974)(1,262)(4,040)(2,508)
Gain on remeasurement of equity investment25,048 — 25,048 — 
Other income, net3,462 8,179 11,138 15,542 
Income before income taxes$120,631 $102,513 $227,053 $197,803 
The following table presents reconciliations of segment revenues from external customers and other segment information to the Company’s consolidated totals:
Three Months Ended June 30,Six Months Ended June 30,
Revenues:2026202520262025
ES$476,332 $433,915 $941,085 $836,661 
PT160,857 154,636 308,920 316,365 
Corporate unallocated7,907 7,566 8,594 8,256 
Total consolidated$645,096 $596,117 $1,258,599 $1,161,282 
Depreciation and amortization expense:
ES$1,894 $2,008 $3,772 $2,981 
PT4,804 4,445 14,286 8,786 
Corporate unallocated29,114 27,869 56,703 57,176 
Total consolidated$35,812 $34,322 $74,761 $68,943 
Software development expenditures:
ES$— $692 $— $2,241 
PT845 4,086 2,105 8,077 
Corporate — 72 — 82 
Total consolidated$845 $4,850 $2,105 $10,400 
Capital expenditures:
ES$821 $1,552 $1,625 $2,282 
PT2,182 2,854 2,623 3,793 
Corporate 2,048 1,081 4,040 1,747 
Total consolidated$5,051 $5,487 $8,288 $7,822 
Segment assets:June 30, 2026December 31, 2025
ES$622,025 $534,864 
PT390,959 416,998 
Corporate
4,800,592 4,687,046 
Total consolidated$5,813,576 $5,638,908 
Segment assets primarily consist of net accounts receivable, prepaid expenses and other current assets, and net property and equipment and software development costs, net. Corporate assets primarily consist of cash and investments; prepaid insurance; goodwill and intangibles associated with acquisitions; deferred income taxes; software development costs, net; and net property and equipment mainly related to unallocated information and technology assets.