CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Sep. 30, 2026 |
Jun. 30, 2026 |
Mar. 31, 2026 |
Sep. 30, 2025 |
Jun. 30, 2025 |
Mar. 31, 2025 |
Sep. 30, 2026 |
Sep. 30, 2025 |
|
| Revenue, net (includes $3.8 million and $12.2 million with related parties for the three months ended September 30, 2026 and 2025, respectively, and $15.8 million and $42.9 million with related parties for the nine months ended September 30, 2026 and 2025, respectively) | $ 716,000 | $ 659,903 | $ 2,129,935 | $ 1,821,784 | ||||
| Operating expenses: | ||||||||
| Total direct costs | 492,115 | 462,964 | 1,508,087 | 1,266,482 | ||||
| Selling, general and administrative | 51,765 | 48,082 | 147,785 | 152,643 | ||||
| Depreciation | 6,425 | 6,813 | 19,731 | 20,284 | ||||
| Amortization | 155 | 236 | 465 | 709 | ||||
| Total operating expenses | 550,460 | 518,095 | 1,676,068 | 1,440,118 | ||||
| Income from operations | 165,540 | 141,808 | 453,867 | 381,666 | ||||
| Other income, net: | ||||||||
| Miscellaneous income (expense), net | 17 | (489) | 841 | (5,180) | ||||
| Interest income, net | 5,349 | 1,517 | 15,452 | 9,058 | ||||
| Total other income, net | 5,366 | 1,028 | 16,293 | 3,878 | ||||
| Income before income taxes | 170,906 | 142,836 | 470,160 | 385,544 | ||||
| Income tax provision | 33,446 | 31,701 | 87,468 | 69,554 | ||||
| Net income | $ 137,460 | $ 121,362 | $ 123,870 | $ 111,135 | $ 90,260 | $ 114,595 | $ 382,692 | $ 315,990 |
| Net income per share attributable to common shareholders: | ||||||||
| Basic (in dollars per share) | $ 4.92 | $ 3.95 | $ 13.58 | $ 10.88 | ||||
| Diluted (in dollars per share) | $ 4.84 | $ 3.86 | $ 13.37 | $ 10.64 | ||||
| Weighted average common shares outstanding: | ||||||||
| Basic (in shares) | 27,940 | 28,136 | 28,184 | 29,033 | ||||
| Diluted (in shares) | 28,372 | 28,817 | 28,630 | 29,710 | ||||
| Direct Costs | ||||||||
| Operating expenses: | ||||||||
| Total direct costs | $ 204,851 | $ 186,335 | $ 605,680 | $ 549,977 | ||||
| Reimbursable Out of Pocket Costs | ||||||||
| Operating expenses: | ||||||||
| Total direct costs | $ 287,264 | $ 276,629 | $ 902,407 | $ 716,505 | ||||
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- Definition Amount of amortization expense for finite-lived intangible asset. Excludes goodwill and capitalized cost for software to be sold, leased, or marketed. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate direct operating costs incurred during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income (expense) classified as nonoperating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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