v3.24.1.u1
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Revenue $ 51,636 $ 57,114
Cost of revenue [1] 19,158 17,350
Amortization of acquired technology 702 673
Gross profit 31,776 39,091
Operating expenses:    
Selling and marketing [1] 22,963 24,756
Product development [1] 2,753 2,609
General and administrative [1] 6,695 7,918
Transaction and related expenses 6,526 0
Depreciation, excluding depreciation of $1,175 and $845, respectively, included in cost of revenue 2,311 2,000
Amortization 1,498 1,493
Total operating expenses 42,746 38,776
Operating income (loss) (10,970) 315
Interest and other income, net 3,072 2,757
Income (loss) before provision for income taxes (7,898) 3,072
Provision for income taxes 2,190 1,427
Net income (loss) (10,088) 1,645
Other comprehensive income (loss), net of tax:    
Unrealized gain (loss) on investments (net of tax provision effect of $(7) and $18, respectively) (23) 63
Foreign currency translation gain (loss) (642) 2,029
Other comprehensive income (loss) (665) 2,092
Comprehensive income $ (10,753) $ 3,737
Net income (loss) per common share:    
Basic $ (0.35) $ 0.06
Diluted [2] $ (0.35) $ 0.06
Weighted average common shares outstanding:    
Basic 28,510,000 28,757,000
Diluted weighted average shares 28,510,395 28,953,106
[1] Amounts include stock-based compensation expense as follows:
[2] In calculating diluted net income per share, 851 thousand shares and 1.3 million shares related to outstanding stock options and unvested, undelivered restricted stock units were excluded for the three months ended March 31, 2024 and 2023, respectively. Additionally, for the three months ended March 31, 2024 and 2023, the interest expense and amortization of note costs relating to the shares issuable upon conversion of our outstanding convertible notes were excluded from the calculation as they would have been anti-dilutive. The interest expense including amortization of note issuance costs, related to convertible notes was $0.6 million for both the three months March 31, 2024 and March 31, 2023.