DoubleVerify Holdings Inc.

04/30/2026 | Press release | Archived content

First Quarter 2026 Financials Spreadsheet

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DoubleVerify Holdings, Inc. Financial Data - FY2020 to Q12026
This file contains downloadable content that is derived from more comprehensive information contained in our quarterly earnings releases and periodic reports and other filings with the Securities and Exchange Commission which can be found on DoubleVerify's Investor Relations site at https://ir.doubleverify.com/.
Trended Historical Financial Statements & Recon Tables
Income Statement
GAAP to Non-GAAP Operating Expense Recon
Revenue Detail
Non-GAAP Reconciliations (EBITDA, EBITDA Margin, Net Income, Earnings Per Share, Free Cash Flow & Free Cash Flow Conversion)
Statement of Cash Flows
Balance Sheet
Non-GAAP Measures - In addition to our results determined in accordance with GAAP, we believe that certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA Margin, Non-GAAP Net income, Non-GAAP Earnings Per Share, Free Cash Flow and Free Cash Flow Conversion (collectively "Non-GAAP Financial Measures") are useful in evaluating our business. We calculate Adjusted EBITDA Margin as Adjusted EBITDA divided by total revenue. We calculate Non-GAAP net income as GAAP net income adjusted to eliminate the impact of stock-based compensation and certain other items that are not related to our core operations, such as amortization of acquired intangibles assets, acquisition-related costs, other non-recurring costs, as well as the income tax effect of these adjustments. Basic non-GAAP earnings per share is calculated by dividing non-GAAP net income by the number of weighted-average common stock outstanding. Diluted Non-GAAP earnings per share adjusts the Basic Non-GAAP earnings per share for the potential dilutive impact of shares of common stock using the treasury stock method. We calculate free cash flow as net cash provided by operating activities determined in accordance with GAAP less purchases of property, plant, and equipment which includes capitalized software development costs. Free cash flow conversion is calculated as free cash flow divided by Adjusted EBITDA for the same period. We use the Non-GAAP Financial Measures as measures of operational efficiency to understand and evaluate our core business operations. We believe that these Non-GAAP Financial Measures are useful to investors for period to period comparisons of our core business and for understanding and evaluating trends in our operating results on a consistent basis by either excluding items that we do not believe are indicative of our core operating performance or by measuring cash generated by our operations that is available for various strategic initiatives. These Non-GAAP Financial Measures have limitations as analytical tools and should not be considered in isolation or as substitutes for an analysis of our results as reported under GAAP. Some of the limitations of these measures are: - they do not reflect changes in, or cash requirements for, our working capital needs; - they do not reflect our capital expenditures or future requirements for capital expenditures or contractual commitments; - they do not reflect income tax expense or the cash requirements to pay income taxes; - they do not reflect our interest expense or the cash requirements necessary to service interest or principal payments on our debt; and - although depreciation and amortization are non-cash charges related mainly to intangible assets, certain assets being depreciated and amortized will have to be replaced in the future, and they do not reflect any cash requirements for such replacements. In addition, other companies in our industry may calculate these Non-GAAP Financial Measures differently than we do, limiting their usefulness as a comparative measure. You should compensate for these limitations by relying primarily on our GAAP results and using the Non-GAAP Financial Measures only supplementally.

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Income Statement

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GAAP Income Statement
000's, except per share amounts
Q1 20 Q2 20 Q3 20 Q4 20 FY 20 Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26
Revenue $ 51,219 $ 53,020 $ 61,037 $ 78,641 $ 243,917 $ 67,586 $ 76,524 $ 83,098 $ 105,533 $ 332,741 $ 96,723 $ 109,805 $ 112,254 $ 133,636 $ 452,418 $ 122,594 $ 133,744 $ 143,974 $ 172,231 $ 572,543 $ 140,782 $ 155,890 $ 169,556 $ 190,621 $ 656,849 $ 165,061 $ 189,021 $ 188,621 $ 205,588 $ 748,291 $ 180,825
Cost of revenue (exclusive of depreciation and amortization shown separately below) 7,310 7,655 8,998 11,787 35,750 10,203 12,291 13,435 18,453 54,382 16,877 18,836 19,323 22,830 77,866 23,952 26,191 26,466 30,022 106,631 26,618 26,102 29,479 34,316 116,515 30,966 33,126 33,465 35,942 133,499 33,159
Product development 10,331 10,906 13,087 12,680 47,004 14,179 15,120 16,359 17,040 62,698 21,588 23,222 23,932 26,376 95,118 28,555 31,941 32,315 32,565 125,376 36,394 39,806 39,306 37,540 153,046 44,717 47,203 44,842 41,683 178,445 45,381
Sales, marketing and customer support 12,319 12,833 16,728 20,277 62,157 15,534 19,580 19,539 22,659 77,312 26,684 24,733 27,118 28,881 107,416 25,712 31,537 32,971 35,733 125,953 37,872 44,863 40,525 44,246 167,506 43,701 50,871 47,022 49,232 190,826 45,595
General and administrative 10,696 8,262 10,369 23,729 53,056 11,835 32,017 14,465 23,063 81,380 19,675 21,529 19,395 18,067 78,666 20,188 19,755 23,280 24,748 87,971 22,075 23,066 23,039 23,967 92,147 26,527 29,576 26,997 26,644 109,744 25,715
Depreciation and amortization 5,934 6,146 6,087 6,428 24,595 7,057 7,440 7,492 8,296 30,285 9,040 8,317 8,089 8,882 34,328 8,983 9,676 10,706 11,520 40,885 10,928 11,004 11,483 11,800 45,215 12,387 14,697 15,191 14,304 56,579 15,339
Income (loss) from operations 4,629 7,218 5,768 3,740 21,355 8,778 (9,924) 11,808 16,022 26,684 2,859 13,168 14,397 28,600 59,024 15,204 14,644 18,236 37,643 85,727 6,895 11,049 25,724 38,752 82,420 6,763 13,548 21,104 37,783 79,198 15,636
Interest expense 1,164 936 858 1,973 4,931 390 297 249 236 1,172 232 223 226 224 905 256 247 288 275 1,066 232 233 353 300 1,118 420 443 467 403 1,733 413
Other (income) expense, net (320) 198 481 (1,244) (885) (49) 49 365 (674) (309) 46 145 231 (1,671) (1,249) (2,734) (2,476) (1,633) (4,373) (11,216) (2,272) (2,064) (4,225) 1,073 (7,488) (3,179) (2,105) 99 (59) (5,244) 993
Income before income taxes 3,785 6,084 4,429 3,011 17,309 8,437 (10,270) 11,194 16,460 25,821 2,581 12,800 13,940 30,047 59,368 17,682 16,873 19,581 41,741 95,877 8,935 12,880 29,596 37,379 88,790 9,522 15,210 20,538 37,439 82,709 14,230
Income tax expense (benefit) 1,345 2,006 (1,376) (5,119) (3,144) 2,793 2,298 3,270 (11,848) (3,487) (1,998) 2,510 3,609 11,979 16,100 5,507 4,034 6,234 8,636 24,411 1,779 5,406 11,395 13,979 32,559 7,161 6,452 10,336 8,110 32,059 7,820
Net income (loss) $ 2,440 $ 4,078 $ 5,805 $ 8,130 $ 20,453 $ 5,644 $ (12,568) $ 7,924 $ 28,308 $ 29,308 $ 4,579 $ 10,290 $ 10,331 $ 18,068 $ 43,268 $ 12,175 $ 12,839 $ 13,347 $ 33,105 $ 71,466 $ 7,156 $ 7,474 $ 18,201 $ 23,400 $ 56,231 $ 2,361 $ 8,758 $ 10,202 $ 29,329 $ 50,650 $ 6,410
Earnings (loss) per share:
Basic $ 0.02 $ 0.03 $ 0.04 $ 0.06 $ 0.15 $ 0.05 $ (0.08) $ 0.05 $ 0.18 $ 0.20 $ 0.03 $ 0.06 $ 0.06 $ 0.11 $ 0.26 $ 0.07 $ 0.08 $ 0.08 $ 0.19 $ 0.43 $ 0.04 $ 0.04 $ 0.11 $ 0.14 $ 0.33 $ 0.01 $ 0.05 $ 0.06 $ 0.18 $ 0.31 $ 0.04
Diluted $ 0.02 $ 0.03 $ 0.04 $ 0.06 $ 0.14 $ 0.04 $ (0.08) $ 0.05 $ 0.17 $ 0.18 $ 0.03 $ 0.06 $ 0.06 $ 0.11 $ 0.25 $ 0.07 $ 0.07 $ 0.08 $ 0.19 $ 0.41 $ 0.04 $ 0.04 $ 0.10 $ 0.14 $ 0.32 $ 0.01 $ 0.05 $ 0.06 $ 0.18 $ 0.30 $ 0.04
Weighted-average common stock outstanding:
Basic 139,741 139,756 139,841 132,928 138,072 125,112 149,596 158,045 159,981 148,309 162,612 163,610 164,297 164,978 163,882 165,631 166,540 168,606 170,374 167,803 171,306 171,628 170,254 168,891 170,515 165,117 162,740 162,031 161,280 162,780 160,772
Diluted 147,233 146,541 146,554 139,573 145,443 133,578 149,596 167,045 170,517 160,264 170,439 170,223 170,876 171,214 170,755 171,657 172,488 173,980 175,008 173,435 176,124 175,961 173,911 172,711 175,076 168,941 166,697 166,497 164,643 166,683 164,108
Other comprehensive (loss) income :
Foreign currency cumulative translation adjustment (153) 231 410 590 1,078 (799) 355 303 (1,641) (1,782) (1,570) (5,634) (4,630) 6,279 (5,555) 1,193 (377) (6,417) 9,124 3,523 (4,625) (1,814) 9,079 (14,529) (11,889) 7,493 19,383 839 312 28,027 (4,931)
Total comprehensive (loss) income $ 2,287 $ 4,309 $ 6,215 $ 8,720 $ 21,531 $ 4,845 $ (12,213) $ 8,227 $ 26,667 $ 27,526 $ 3,009 $ 4,656 $ 5,701 $ 24,347 $ 37,713 $ 13,368 $ 12,462 $ 6,930 $ 42,229 $ 74,989 $ 2,531 $ 5,660 $ 27,280 $ 8,871 $ 44,342 $ 9,854 $ 28,141 $ 11,041 $ 29,641 $ 78,677 $ 1,479
*Some totals may not sum due to rounding.

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GAAP to Non-GAAP OpEx

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GAAP to Non-GAAP
Operating Expense Reconciliation
000's
Q1 20 Q2 20 Q3 20 Q4 20 FY 20 Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26
Product development (GAAP) $ 10,331 $ 10,906 $ 13,087 $ 12,680 $ 47,004 $ 14,179 $ 15,120 $ 16,359 $ 17,040 $ 62,698 $ 21,588 $ 23,222 $ 23,932 $ 26,376 $ 95,118 $ 28,555 $ 31,941 $ 32,315 $ 32,565 $ 125,376 $ 36,394 $ 39,806 $ 39,306 $ 37,540 $ 153,046 $ 44,717 $ 47,203 $ 44,842 $ 41,683 $ 178,445 $ 45,381
Excluded items:
Stock-based compensation 101 152 212 208 673 278 436 1,239 2,416 4,369 3,366 3,544 3,665 4,455 15,030 4,379 5,975 6,235 6,366 22,955 7,373 9,734 8,899 8,796 34,802 9,266 10,389 10,739 9,382 39,776 9,410
M&A and restructuring costs (recoveries) 108 4 (15) (15) 83 (18) 67 - 0 - 0 49 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Product development - Non-GAAP $ 10,122 $ 10,750 $ 12,890 $ 12,487 $ 46,248 $ 13,919 $ 14,617 $ 15,120 $ 14,624 $ 58,280 $ 18,222 $ 19,678 $ 20,267 $ 21,921 $ 80,088 $ 24,176 $ 25,966 $ 26,080 $ 26,199 $ 102,421 $ 29,021 $ 30,072 $ 30,407 $ 28,744 $ 118,244 $ 35,451 $ 36,814 $ 34,103 $ 32,301 $ 138,669 $ 35,971
Sales, marketing and customer support (GAAP) $ 12,319 $ 12,833 $ 16,728 $ 20,277 $ 62,157 $ 15,534 $ 19,580 $ 19,539 $ 22,659 $ 77,312 $ 26,684 $ 24,733 $ 27,118 $ 28,881 $ 107,416 $ 25,712 $ 31,537 $ 32,971 $ 35,733 $ 125,953 $ 37,872 $ 44,863 $ 40,525 $ 44,246 $ 167,506 $ 43,701 $ 50,871 $ 47,022 $ 49,232 $ 190,826 $ 45,595
Excluded items:
Stock-based compensation 172 392 305 5,281 6,151 624 1,696 1,423 2,632 6,375 3,829 2,587 4,302 3,547 14,265 3,507 4,746 4,945 5,101 18,299 5,936 7,503 7,152 7,213 27,804 7,629 8,826 7,932 8,447 32,834 7,124
M&A and restructuring costs (recoveries) 107 4 (15) (14) 82 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Other costs (recoveries) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 330 - 0 - 0 - 0 330 - 0 - 0 - 0 14 14 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Sales, marketing and customer support - Non-GAAP $ 12,040 $ 12,437 $ 16,438 $ 15,010 $ 55,924 $ 14,910 $ 17,884 $ 18,116 $ 20,027 $ 70,937 $ 22,525 $ 22,146 $ 22,816 $ 25,334 $ 92,821 $ 22,205 $ 26,791 $ 28,026 $ 30,618 $ 107,640 $ 31,936 $ 37,360 $ 33,373 $ 37,033 $ 139,702 $ 36,072 $ 42,045 $ 39,090 $ 40,785 $ 157,992 $ 38,471
General and administrative (GAAP) $ 10,696 $ 8,262 $ 10,369 $ 23,729 $ 53,056 $ 11,835 $ 32,017 $ 14,465 $ 23,063 $ 81,380 $ 19,675 $ 21,529 $ 19,395 $ 18,067 $ 78,666 $ 20,188 $ 19,755 $ 23,280 $ 24,748 $ 87,971 $ 22,075 $ 23,066 $ 23,039 $ 23,967 $ 92,147 $ 26,527 $ 29,576 $ 26,997 $ 26,644 $ 109,744 $ 25,715
Excluded items:
Stock-based compensation 529 596 1,102 11,476 13,703 1,636 2,582 2,186 4,739 11,143 3,799 3,128 3,004 3,081 13,012 3,927 4,446 4,611 5,006 17,990 6,932 7,478 6,899 6,743 28,052 7,447 7,792 8,708 7,669 31,616 7,715
M&A and restructuring costs (recoveries) - 0 - 0 5 - 0 5 - 0 - 0 1,079 2,382 3,461 653 527 39 5 1,224 - 0 700 921 (359) 1,262 11 (11) - 0 537 537 1,162 504 (10) - 0 1,656 - 0
Offering, IPO readiness and secondary offering costs 1,642 585 768 1,915 4,910 3,261 18,886 318 1,099 23,564 - 0 - 0 726 566 1,292 187 122 286 315 910 58 10 - 0 - 0 68 - 0 - 0 - 0 - 0 - 0 - 0
Other costs (recoveries) 2,163 561 307 (1,427) 1,605 109 - 0 878 2,825 3,812 867 2,690 (228) (245) 3,084 (267) (266) (267) (178) (978) - 0 - 0 - 0 - 0 - 0 - 0 1,518 2,187 257 3,962 (22)
General and administrative - Non-GAAP $ 6,362 $ 6,520 $ 8,187 $ 11,765 $ 32,833 $ 6,829 $ 10,549 $ 10,004 $ 12,018 $ 39,400 $ 14,356 $ 15,184 $ 15,854 $ 14,660 $ 60,054 $ 16,341 $ 14,753 $ 17,729 $ 19,964 $ 68,787 $ 15,074 $ 15,589 $ 16,140 $ 16,687 $ 63,490 $ 17,918 $ 19,762 $ 16,112 $ 18,718 $ 72,510 $ 18,022
*Some totals may not sum due to rounding.

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Revenue Detail

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Revenue Detail
000's
Q1 20 Q2 20 Q3 20 Q4 20 FY 20 Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26
Revenue by Type
Activation (fka Advertiser - programmatic) $ 23,851 $ 24,128 $ 28,044 $ 40,092 $ 116,115 $ 33,912 $ 37,880 $ 41,902 $ 54,104 $ 167,798 $ 53,031 $ 60,495 $ 62,170 $ 75,502 $ 251,198 $ 69,892 $ 77,942 $ 81,700 $ 99,402 $ 328,936 $ 79,322 $ 87,471 $ 96,791 $ 109,517 $ 373,101 $ 95,172 $ 108,950 $ 106,693 $ 116,497 $ 427,311 $ 100,547
YoY Growth Rate 60% 24% 27% 48% 39% 42% 57% 49% 35% 45% 56% 60% 48% 40% 50% 32% 29% 31% 32% 31% 13% 12% 18% 10% 13% 20% 25% 10% 6% 15% 6%
Measurement (fka Advertiser - direct) $ 22,187 $ 23,707 $ 27,582 $ 32,946 $ 106,422 $ 27,541 $ 31,662 $ 34,057 $ 42,256 $ 135,516 $ 33,834 $ 38,903 $ 38,847 $ 46,324 $ 157,908 $ 41,385 $ 44,989 $ 51,263 $ 60,387 $ 198,024 $ 49,275 $ 54,817 $ 58,468 $ 64,379 $ 226,939 $ 53,430 $ 62,895 $ 63,829 $ 69,569 $ 249,724 $ 61,803
YoY Growth Rate 28% 17% 30% 29% 26% 24% 34% 23% 28% 27% 23% 23% 14% 10% 17% 22% 16% 32% 30% 25% 19% 22% 14% 7% 15% 8% 15% 9% 8% 10% 16%
Supply-side $ 5,181 $ 5,185 $ 5,411 $ 5,603 $ 21,380 $ 6,133 $ 6,982 $ 7,139 $ 9,173 $ 29,427 $ 9,858 $ 10,407 $ 11,237 $ 11,810 $ 43,312 $ 11,317 $ 10,813 $ 11,011 $ 12,442 $ 45,583 $ 12,185 $ 13,602 $ 14,297 $ 16,725 $ 56,809 $ 16,459 $ 17,176 $ 18,099 $ 19,522 $ 71,256 $ 18,475
YoY Growth Rate 70% 47% 72% 11% 45% 18% 35% 32% 64% 38% 61% 49% 57% 29% 47% 15% 4% -2% 5% 5% 8% 26% 30% 34% 25% 35% 26% 27% 17% 25% 12%
Total Revenue $ 51,219 $ 53,020 $ 61,037 $ 78,641 $ 243,917 $ 67,586 $ 76,524 $ 83,098 $ 105,533 $ 332,741 $ 96,723 $ 109,805 $ 112,254 $ 133,636 $ 452,418 $ 122,594 $ 133,744 $ 143,974 $ 172,231 $ 572,543 $ 140,782 $ 155,890 $ 169,556 $ 190,621 $ 656,849 $ 165,061 $ 189,021 $ 188,621 $ 205,588 $ 748,291 $ 180,825
YoY Growth Rate 45% 22% 32% 36% 34% 32% 44% 36% 34% 36% 43% 43% 35% 27% 36% 27% 22% 28% 29% 27% 15% 17% 18% 11% 15% 17% 21% 11% 8% 14% 10%
*Some totals may not sum due to rounding.

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Non-GAAP Reconciliations

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Non-GAAP Reconciliations (EBITDA, EBITDA Margin, Net Income, Earnings Per Share, Free Cash Flow & Free Cash Flow Conversion)
$000's, except per share amounts Non-GAAP
Q1 20 Q2 20 Q3 20 Q4 20 FY 20 Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26
Net income (loss) (GAAP) $ 2,440 $ 4,078 $ 5,805 $ 8,130 $ 20,453 $ 5,644 $ (12,568) $ 7,924 $ 28,308 $ 29,308 $ 4,579 $ 10,290 $ 10,331 $ 18,068 $ 43,268 $ 12,175 $ 12,839 $ 13,347 $ 33,105 $ 71,466 $ 7,156 $ 7,474 $ 18,201 $ 23,400 $ 56,231 $ 2,361 $ 8,758 $ 10,202 $ 29,329 $ 50,650 $ 6,410
Net income margin 5% 8% 10% 10% 8% 8% -16% 10% 27% 9% 5% 9% 9% 14% 10% 10% 10% 9% 19% 12% 5% 5% 11% 12% 9% 1% 5% 5% 14% 7% 4%
Depreciation and amortization 5,934 6,146 6,087 6,428 24,595 7,057 7,440 7,492 8,296 30,285 9,040 8,317 8,089 8,882 34,328 8,983 9,676 10,706 11,520 40,885 10,928 11,004 11,483 11,800 45,215 12,387 14,697 15,191 14,304 56,579 15,339
Stock-based compensation 802 1,140 1,619 16,965 20,527 2,538 4,714 4,848 9,787 21,887 10,994 9,259 10,971 11,083 42,307 11,813 15,167 15,791 16,473 59,244 20,241 24,715 22,950 22,752 90,658 24,342 27,007 27,379 25,498 104,226 24,249
Interest expense 1,164 936 858 1,973 4,931 390 297 249 237 1,172 232 223 226 224 905 256 247 288 275 1,066 232 233 353 300 1,118 420 443 467 403 1,733 413
Income tax expense (benefit) 1,345 2,006 (1,376) (5,119) (3,144) 2,793 2,298 3,270 (11,848) (3,487) (1,998) 2,510 3,609 11,979 16,100 5,507 4,034 6,234 8,636 24,411 1,779 5,406 11,395 13,979 32,559 7,161 6,452 10,336 8,110 32,059 7,820
M&A and restructuring costs (recoveries) 215 8 (25) (29) 170 (18) 67 1,079 2,382 3,510 653 527 39 5 1,224 - 700 921 (359) 1,262 11 (11) - 537 537 1,162 504 (10) - 1,656 -
Offering, IPO readiness and secondary offering costs 1,642 585 768 1,915 4,910 3,261 18,886 318 1,099 23,564 - - 726 566 1,292 187 122 286 315 910 58 10 - - 68 - - - - - -
Other costs (recoveries) 2,163 561 307 (1,427) 1,605 109 - 878 2,825 3,812 1,197 2,690 (228) (245) 3,414 (267) (266) (267) (164) (964) - - - - - - 1,518 2,187 257 3,962 (22)
Other (income) expense (320) 198 481 (1,244) (885) (49) 49 365 (674) (309) 46 145 231 (1,671) (1,249) (2,734) (2,476) (1,633) (4,373) (11,216) (2,272) (2,064) (4,225) 1,073 (7,488) (3,179) (2,105) 99 (59) (5,244) 993
Adjusted EBITDA $ 15,385 $ 15,658 $ 14,524 $ 27,592 $ 73,162 $ 21,725 $ 21,183 $ 26,423 $ 40,412 $ 109,742 $ 24,743 $ 33,961 $ 33,994 $ 48,891 $ 141,589 $ 35,920 $ 40,043 $ 45,673 $ 65,428 $ 187,064 $ 38,133 $ 46,767 $ 60,157 $ 73,841 $ 218,898 $ 44,654 $ 57,274 $ 65,851 $ 77,842 $ 245,621 $ 55,202
Adjusted EBITDA margin 30% 30% 24% 35% 30% 32% 28% 32% 38% 33% 26% 31% 30% 37% 31% 29% 30% 32% 38% 33% 27% 30% 35% 39% 33% 27% 30% 35% 38% 33% 31%
Net income (GAAP) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $ 7,156 $ 7,474 $ 18,201 $ 23,400 $ 56,231 $ 2,361 $ 8,758 $ 10,202 $ 29,329 $ 50,650 $ 6,410
Stock-based compensation N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 20,241 24,715 22,950 22,752 90,658 24,342 27,007 27,379 25,498 104,226 24,249
Amortization of acquired intangibles N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 7,269 7,140 7,173 7,111 28,693 7,239 8,068 7,929 6,545 29,781 6,555
M&A and restructuring costs (recoveries) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 11 (11) - 537 537 1,162 504 (10) - 1,656 -
Other costs (recoveries) N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A - - - - - - 1,518 2,187 257 3,962 (22)
Income tax effect of non-GAAP adjustments N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A (7,183) (8,311) (7,862) (7,934) (31,291) (10,150) (11,500) (11,620) (10,013) (43,284) (9,542)
Non-GAAP net income $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 27,494 $ 31,007 $ 40,462 $ 45,866 $ 144,828 $ 24,954 $ 34,355 $ 36,067 $ 51,616 $ 146,991 $ 27,650
GAAP earnings per share
Basic N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $ 0.04 $ 0.04 $ 0.11 $ 0.14 $ 0.33 $ 0.01 $ 0.05 $ 0.06 $ 0.18 $ 0.31 $ 0.04
Diluted N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $ 0.04 $ 0.04 $ 0.10 $ 0.14 $ 0.32 $ 0.01 $ 0.05 $ 0.06 $ 0.18 $ 0.30 $ 0.04
GAAP weighted-average common stock outstanding:
Basic N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 171,306 171,628 170,254 168,891 170,515 165,117 162,740 162,031 161,280 162,780 160,772
Diluted N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 176,124 175,961 173,911 172,711 175,076 168,941 166,697 166,497 164,643 166,683 164,108
Non-GAAP earnings per share
Basic N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $ 0.16 $ 0.18 $ 0.24 $ 0.27 $ 0.85 $ 0.15 $ 0.21 $ 0.22 $ 0.32 $ 0.90 $ 0.17
Diluted N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $ 0.16 $ 0.18 $ 0.23 $ 0.27 $ 0.83 $ 0.15 $ 0.21 $ 0.22 $ 0.31 $ 0.88 $ 0.17
Non-GAAP weighted-average common stock outstanding:
Basic N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 171,306 171,628 170,254 168,891 170,515 165,117 162,740 162,031 161,280 162,780 160,772
Diluted N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 176,124 175,961 173,911 172,711 175,076 168,941 166,697 166,497 164,643 166,683 164,108
Net cash provided by (used in) operating activities N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $ 119,741 $ 31,774 $ 35,881 $ 54,625 $ 37,384 $ 159,664 $ 37,663 $ 49,613 $ 51,181 $ 72,726 $ 211,183 $ 4,171
Purchase of property, plant and equipment N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A (17,009) (6,393) (7,165) (6,234) (7,357) (27,149) (6,286) (9,527) (12,139) (10,577) (38,529) (10,543)
Free Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A $ 102,732 $ 25,381 $ 28,716 $ 48,391 $ 30,027 $ 132,515 $ 31,377 $ 40,086 $ 39,042 $ 62,149 $ 172,654 $ (6,372)
Free Cash Flow Conversion N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 55% 67% 61% 80% 41% 61% 70% 70% 59% 80% 70% -12%

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Statement of Cash Flows
$000s
Q1 20 Q2 20 Q3 20 Q4 20 FY 20 Q1 21 Q2 21 Q3 21 Q4 21 FY 21 Q1 22 Q2 22 Q3 22 Q4 22 FY 22 Q1 23 Q2 23 Q3 23 Q4 23 FY 23 Q1 24 Q2 24 Q3 24 Q4 24 FY 24 Q1 25 Q2 25 Q3 25 Q4 25 FY 25 Q1 26
Operating activities:
Net income (loss) (GAAP) $2,440 $4,078 $5,805 $8,130 $20,453 $5,644 ($12,568) $7,924 $28,308 $29,308 $4,579 $10,290 $10,331 $18,068 $43,268 $12,175 $12,839 $13,347 $33,105 $71,466 $7,156 $7,474 $18,201 $23,400 $56,231 $2,361 $8,758 $10,202 $29,329 $50,650 $6,410
Adjustments to reconcile net income to net cash provided by operating activities:
Bad debt expense (recovery) 709 1,039 1,293 1,770 4,811 (390) 589 (1,385) 475 (711) 1,079 918 1,632 1,404 5,033 1,285 2,421 3,195 3,174 10,075 907 546 2,093 1,447 4,993 983 516 398 1,292 3,189 1,448
Depreciation and amortization expense 5,934 6,146 6,087 6,428 24,595 7,057 7,440 7,492 8,296 30,285 9,040 8,317 8,089 8,882 34,328 8,983 9,676 10,706 11,520 40,885 10,928 11,004 11,483 11,800 45,215 12,387 14,697 15,191 14,304 56,579 15,339
Amortization of debt issuance costs 72 70 69 74 285 74 73 74 73 294 74 73 74 73 294 74 73 74 73 294 74 73 187 108 442 109 108 109 108 434 109
Loss on extinguishment of debt - - - 350 350 - - - - - - - - - - - - - - - - - - - - - - - - - -
Accretion of acquisition liabilities 21 15 - - 36 - - - - - - - - - - - - - - - - - - - - - - - - - -
Non-cash lease expense - - - - - - - - - - 2,002 1,880 1,652 1,805 7,339 1,658 1,635 1,606 1,828 6,727 1,569 1,622 2,138 1,835 7,164 1,874 2,031 1,998 2,025 7,928 2,074
Deferred taxes (1,624) (1,472) (816) (1,225) (5,137) (1,328) (1,847) (1,397) (3,294) (7,866) (2,016) (1,958) (2,000) (13,607) (19,581) (5,382) (11,257) (3,082) (5,325) (25,046) (3,963) (7,567) (5,723) (4,400) (21,653) (3,367) 3,665 16,757 (13,228) 3,827 1,501
Non-cash stock-based compensation expense 802 1,140 1,619 2,423 5,984 2,538 4,714 4,848 9,787 21,887 10,994 9,259 10,971 11,083 42,307 11,813 15,167 15,791 16,473 59,244 20,241 24,715 22,950 22,752 90,658 24,342 27,007 27,379 25,498 104,226 24,249
Interest expense (income), net (29) (13) 6 24 (12) 66 (57) 121 (27) 103 (14) 86 (65) 100 107 - 25 151 (108) 68 64 (848) (70) 914 60 299 (44) 66 (28) 293 273
Change in fair value of contingent consideration (979) 80 (50) - (949) - 57 - - 57 - - - - - - - - (1,193) (1,193) - - - - - - - - - - -
Loss on disposal of fixed assets - - - - - - - - - - 471 874 8 - 1,353 - 5 - - 5 - - - - - 89 - 12 - 101 -
Impairment of long-lived assets - - - - - - - - - - - 1,510 - - 1,510 - - - - - - - - - - - - - - - -
Offering costs 870 188 794 1,703 3,555 3,073 18,728 (4) 277 22,074 - - - - - - - - - - - - - - - - - - - - -
Other 621 - 121 (69) 673 (68) 130 599 72 733 (150) (152) 620 (231) 87 (2) 211 665 (382) 492 677 905 (222) 1,978 3,338 (704) 285 1,190 221 992 916
Changes in operating assets and liabilities, net of effects of business combinations -
Trade receivables 4,098 (4,145) (11,586) (18,810) (30,443) 7,803 714 (7,827) (22,694) (22,004) (12,224) (9,718) (1,900) (25,923) (49,765) (8,052) (4,162) (13,573) (17,904) (43,691) 9,626 6,771 (6,064) (37,035) (26,702) 14,766 26,185 (29,355) (5,143) 6,453 (3,698)
Prepaid expenses and other assets 767 91 (4,324) (5,547) (9,013) 1,742 (2,325) 5,011 (11,995) (7,567) (2,332) 1,383 (1,161) 11,204 9,094 (6,874) (4,294) 1,798 3,779 (5,591) (5,218) (11,990) 4,616 1,240 (11,352) (10,530) (22,232) (4,062) 17,527 (19,297) (16,311)
Trade payables 1,291 766 (176) 601 2,482 (524) 1,065 (116) (474) (49) 2 2,260 1,190 (568) 2,884 3,700 (1,574) 349 3,001 5,476 55 (2,131) 2,693 (1,684) (1,067) 337 301 419 1,255 2,312 (2,060)
Accrued expenses and other liabilities (2,291) (3,219) 1,530 7,526 3,546 (6,223) 6,051 866 15,511 16,205 (13,754) 3,776 2,371 24,211 16,604 2,048 (10,027) 4,495 4,014 530 (10,342) 5,307 2,343 15,029 12,337 (5,283) (11,664) 10,877 (434) (6,504) (26,079)
Net cash provided by (used in) operating activities 12,702 4,764 372 3,378 21,216 19,464 22,764 16,206 24,315 82,749 (2,249) 28,798 31,812 36,501 94,862 21,426 10,738 35,522 52,055 119,741 31,774 35,881 54,625 37,384 159,664 37,663 49,613 51,181 72,726 211,183 4,171
Investing activities:
Purchase of property, plant and equipment (3,049) (1,513) (1,983) (3,206) (9,751) (1,915) (1,598) (1,986) (3,898) (9,397) (4,759) (8,847) (14,113) (12,262) (39,981) (4,099) (3,572) (4,638) (4,700) (17,009) (6,393) (7,165) (6,234) (7,357) (27,149) (6,286) (9,527) (12,139) (10,577) (38,529) (10,543)
Acquisition of business, net of cash acquired - - - - - - - (24,323) (124,894) (149,217) - - - - - - - (67,240) - (67,240) - - - - - (82,578) - - - (82,578) -
Purchase of short-term investments - - - - - - - - - - - - - - - - - - - - (32,211) (49,726) - (17,692) (99,629) - - - - - -
Proceeds from maturity of short-term investments - - - - - - - - - - - - - - - - - - - - - - 32,210 49,727 81,937 - 12,684 5,069 - 17,753 -
Other investing activities - - - - - - - - - - - - - - - - - - - - - - - - - (1,000) - - (1,025) (2,025) -
Net cash (used in) provided by investing activities (3,049) (1,513) (1,983) (3,206) (9,751) (1,915) (1,598) (26,309) (128,792) (158,614) (4,759) (8,847) (14,113) (12,262) (39,981) (4,099) (3,572) (71,878) (4,700) (84,249) (38,604) (56,891) 25,976 24,678 (44,841) (89,864) 3,157 (7,070) (11,602) (105,379) (10,543)
Financing activities:
Proceeds from long-term debt - - - 89,650 89,650 - - - - - - - - - - - - - - - - - - - - - - - - - -
Payments of long-term debt (188) (1) (374) (141,550) (142,113) - (22,000) - - (22,000) - - - - - - - - - - - - - - - - - - - - -
Proceeds from revolving credit facility - - - - - - - - - - - - - - - 50,000 - - - 50,000 - - - - - - - - - - -
Payments to revolving credit facility - - - - - - - - - - - - - - - (50,000) - - - (50,000) - - - - - - - - - - -
Deferred payment related to Leiki acquisition - (2,033) - - (2,033) - - - - - - - - - - - - - - - - - - - - - - - - - -
Deferred payment related to Zentrick acquisition - (50) - - (50) - - - - - - - - - - - - - - - - - - - - - - - - - -
Payment of contingent consideration related to Zentrick acquisition (601) - - - (601) - (50) - - (50) (3,247) - - - (3,247) - - - - - - - - - - - - - - - -
Repurchase of vested options - - - (15,506) (15,506) - - - - - - - - - - - - - - - - - - - - - - - - - -
Proceeds from Series A preferred stock issuance, net of issuance costs - - - 346,150 346,150 - - - - - - - - - - - - - - - - - - - - - - - - - -
Payments to shareholders for preferred stock Series A - - - (260,686) (260,686) - - - - - - - - - - - - - - - - - - - - - - - - - -
Proceeds from common stock issued upon exercise of stock options 70 51 263 396 780 538 2,909 2,067 6,926 12,440 1,678 838 2,391 896 5,803 1,766 3,991 2,053 2,856 10,666 1,695 870 324 426 3,315 222 148 260 256 886 43
Proceeds from common stock issued under employee purchase plan - - 424 - 424 - - - 404 404 - 768 - 966 1,734 - 1,138 - 1,585 2,723 - 1,914 - 1,617 3,531 - 1,577 - 873 2,450 -
Proceeds from issuance of common stock upon initial public offering - - - - - - 269,390 - - 269,390 - - - - - - - - - - - - - - - - - - - - -
Proceeds from issuance of common stock in connection to concurrent private placement - - - - - - 30,000 - - 30,000 - - - - - - - - - - - - - - - - - - - - -
Payments related to offering costs (676) (431) (123) (2,380) (3,610) (1,181) (20,527) (89) (272) (22,069) (6) - - - (6) - - - - - - - - - - - - - - - -
Payments related to debt issuance costs - - - (577) (577) - - - - - - - - - - - - - - - - - - - - - - - - - -
Finance lease payments (418) (456) (368) (201) (1,443) (235) (569) (418) (696) (1,918) (480) (427) (379) (638) (1,924) (513) (515) (577) (709) (2,314) (815) (747) (378) (535) (2,475) (525) (854) (1,565) (1,608) (4,552) (1,597)
Shares repurchased under authorized repurchase programs - - - - - - - - - - - - - - - - - - - - - (25,027) (25,025) (77,947) (127,999) (82,240) - (50,065) - (132,305) (75,145)
Payment of excise tax on shares repurchased - - - - - - - - - - - - - - - - - - - - - - - - - - (668) - - (668) -
Shares repurchased for settlement of employee tax withholdings - - - - - - - (1,802) - (1,802) (1,058) (8,133) (492) (561) (10,244) (787) (1,966) (945) (888) (4,586) (1,792) (660) (636) (2,734) (5,822) (3,210) (494) (3,391) (2,665) (9,760) (1,437)
Net cash provided by (used in) financing activities (1,813) (2,920) (178) 15,296 10,385 (878) 259,153 (242) 6,362 264,395 (3,113) (6,954) 1,520 663 (7,884) 466 2,648 531 2,844 6,489 (912) (23,650) (25,715) (79,173) (129,450) (85,753) (291) (54,761) (3,144) (143,949) (78,136)
Effect of exchange rate changes on cash and cash equivalents and restricted cash (143) 63 42 241 203 (209) 222 (186) (27) (200) 131 (869) (277) 231 (784) 131 (116) (404) 727 338 (377) (473) 1,000 (2,039) (1,889) 1,526 3,021 (438) 329 4,438 (746)
Net increase (decrease) in cash, cash equivalents and restricted cash 7,697 394 (1,747) 15,709 22,053 16,462 280,541 (10,531) (98,142) 188,330 (9,990) 12,128 18,942 25,133 46,213 17,924 9,698 (36,229) 50,926 42,319 (8,119) (45,133) 55,886 (19,150) (16,516) (136,428) 55,500 (11,088) 58,309 (33,707) (85,254)
Cash, cash equivalents, and restricted cash - Beginning of period 11,342 19,039 19,433 17,686 11,342 33,395 49,857 330,398 319,867 33,395 221,725 211,735 223,863 242,805 221,725 267,938 285,862 295,560 259,331 267,938 310,257 302,138 257,005 312,891 310,257 293,741 157,313 212,813 201,725 293,741 260,034
Cash, cash equivalents, and restricted cash - End of period $19,039 $19,433 $17,686 $33,395 $33,395 $49,857 $330,398 $319,867 $221,725 $221,725 $211,735 $223,863 $242,805 $267,938 $267,938 $285,862 $295,560 $259,331 $310,257 $310,257 $302,138 $257,005 $312,891 $293,741 $293,741 $157,313 $212,813 $201,725 $260,034 $260,034 $174,780
Cash and cash equivalents 18,730 19,038 17,289 33,354 33,354 49,815 330,355 319,825 221,591 221,591 211,600 223,738 242,687 267,813 267,813 285,738 295,437 259,212 310,131 310,131 302,017 256,066 311,910 292,820 292,820 156,360 211,784 200,729 259,038 259,038 173,802
Restricted cash (included in prepaid expenses and other current assets on the Consolidated Balance Sheets) 309 395 397 41 41 42 43 42 134 134 135 125 118 125 125 124 123 119 126 126 121 939 128 33 33 34 37 - - - -
Restricted cash - non-current (included in other non-current assets on the Condensed Consolidated Balance Sheets) - - - - - - - - - - - - - - - - - - - - - - 853 888 888 919 992 996 996 996 978
Total cash and cash equivalents and restricted cash 19,039 $19,433 $17,686 $33,395 $33,395 $49,857 $330,398 $319,867 $221,725 $221,725 $211,735 $223,863 $242,805 $267,938 $267,938 $285,862 $295,560 $259,331 $310,257 $310,257 $302,138 $257,005 $312,891 $293,741 $293,741 $157,313 $212,813 $201,725 $260,034 $260,034 $174,780
Supplemental cash flow information:
Cash paid for taxes 541 7,236 7,124 1,279 16,180 1,045 2,260 2,281 2,112 7,698 948 213 9,049 2,141 12,351 1,708 39,576 11,454 8,145 60,883 1,324 28,167 6,650 5,788 41,929 2,366 53,396 1,955 N/A N/A N/A
Cash paid for interest 1,069 585 1,038 677 3,369 147 378 55 194 774 244 38 237 35 554 266 123 38 287 714 74 276 80 49 479 41 459 378 323 1,201 300
Non-cash investing and financing transactions:
Conversion of Series A preferred stock to common stock - - - - - - 610 - - - - - - - - - - - - - - - - - - - - - - - -
Right-of-use assets obtained in exchange for new operating lease liabilities, net of impairments and tenant improvement allowances - - - - - - - - - - 79,563 2 495 (8,081) 71,979 1,415 (154) 756 530 2,547 6,207 3,004 5,342 (462) 14,091 1,815 353 2,971 321 5,460 245
Common stock issued in connection with acquisition - - - - - - - - 22,526 22,526 - - - - - - - 52,937 - 52,937 - - - - - - - - - - -
Liabilities for contingent consideration - - - - - - - - - - - - - - - - - 1,193 - 1,193 - - - - - - - - - - -
Treasury stock reissued upon the conversion of Series A preferred stock for common stock - - - - - - 260,686 - - 260,686 - - - - - - - - - - - - - - - - - - - - -
Acquisition of equipment under finance lease 973 - - 630 1,603 1,518 - - - 1,518 - - - - - - 5,479 - - 5,479 - - - - - 13,805 - - - 13,805 -
Capital assets financed by accounts payable and accrued expenses 16 76 1,313 - - - - 41 36 36 - - 5,305 12 12 378 480 - 261 261 45 18 82 6 6 98 249 35 99 99 55
Offering costs included in accounts payable and accrued expense 306 100 772 75 75 1,889 89 - 5 5 - - - - - - - - - - - - - - - - - - - - -
Exchange of common stock for preferred stock - - - 260,686 260,686 - - - - - - - - - - - - - - - - - - - - - - - - - -
Accrued excise tax on net share repurchases - - - - - - - - - - - - - - - - - - - - - - - 668 668 732 (157) 396 (87) 884 618
Stock-based compensation included in capitalized software development costs - - - - - - - - - - - 258 109 113 480 179 232 297 395 1,103 471 593 521 555 2,140 744 1,039 1,407 1,392 4,582 1,364

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Balance Sheet
$000s
Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26
ASSETS
Current assets:
Cash and cash equivalents $ 18,730 $ 19,038 $ 17,289 $ 33,354 $ 49,815 $ 330,355 $ 319,825 $ 221,591 $ 211,600 $ 223,738 $ 242,687 $ 267,813 $ 285,738 $ 295,437 $ 259,212 $ 310,131 $ 302,017 $ 256,066 $ 311,910 $ 292,820 $ 156,360 $ 211,784 $ 200,729 $ 259,038 $ 173,802
Short-term investments - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 32,312 82,754 50,686 17,805 17,934 5,002 - 0 - 0 - 0
Trade accounts receivable, net allowances for doubtful accounts 63,354 66,742 77,204 94,677 86,798 85,555 95,509 122,938 134,030 142,152 141,444 167,122 174,262 176,007 190,673 206,941 195,638 187,761 193,303 226,225 213,358 188,866 217,586 221,158 222,559
Prepaid expenses and other current assets 4,740 4,803 9,123 13,904 12,068 14,106 9,326 23,295 24,979 20,624 21,215 10,161 16,695 20,715 19,473 15,930 20,356 32,977 23,609 22,201 34,140 56,709 58,568 39,132 55,047
Total current assets 86,824 90,583 103,616 141,935 148,681 430,016 424,660 367,824 370,609 386,514 405,346 445,096 476,695 492,159 469,358 533,002 550,323 559,558 579,508 559,051 421,792 462,361 476,883 519,328 451,408
Property and equipment, net 16,038 15,950 17,548 18,107 18,948 17,572 16,693 17,575 19,152 24,958 42,511 47,034 48,842 54,793 55,764 58,020 60,851 64,521 67,421 70,195 85,994 91,886 98,358 103,284 106,163
Operating lease right-of-use assets, net - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 76,825 75,613 74,413 64,692 64,381 62,499 61,480 60,470 64,910 66,155 70,432 67,721 68,062 67,547 68,508 66,908 64,916
Goodwill 227,349 227,349 227,349 227,349 227,349 227,349 244,672 350,560 342,666 339,489 336,545 343,011 343,859 343,682 431,307 436,008 432,865 431,496 437,646 427,621 504,762 516,587 516,960 516,002 512,503
Intangible assets, net 135,123 130,641 126,176 121,710 117,245 112,780 117,705 153,395 154,512 147,612 140,841 135,429 129,352 122,974 147,306 140,883 132,815 125,420 119,654 110,356 121,865 116,068 108,195 101,616 94,521
Deferred tax assets 95 95 95 82 82 82 82 60 60 60 60 35 35 4,901 7,983 13,077 16,619 23,766 31,732 35,488 35,363 31,298 14,233 30,920 28,955
Other non-current assets 578 531 542 2,151 2,089 2,303 2,185 2,780 1,859 1,771 1,699 1,731 1,701 1,657 1,981 1,571 1,810 1,727 5,960 5,778 11,157 11,181 12,759 16,024 15,941
Total assets $ 466,007 $ 465,149 $ 475,326 $ 511,334 $ 514,394 $ 790,102 $ 805,997 $ 892,194 $ 965,683 $ 976,017 $ 1,001,415 $ 1,037,028 $ 1,064,865 $ 1,082,665 $ 1,175,179 $ 1,243,031 $ 1,260,193 $ 1,272,643 $ 1,312,353 $ 1,276,210 $ 1,248,995 $ 1,296,928 $ 1,295,896 $ 1,354,082 $ 1,274,407
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Trade payables $ 2,366 $ 3,228 $ 4,766 $ 3,495 $ 3,567 $ 4,122 $ 4,105 $ 3,853 $ 3,821 $ 6,035 $ 12,489 $ 6,675 $ 10,672 $ 8,837 $ 9,638 $ 12,932 $ 12,761 $ 10,604 $ 13,376 $ 11,598 $ 12,620 $ 13,123 $ 13,343 $ 14,662 $ 12,459
Accrued expense 12,777 13,369 18,642 25,419 20,213 25,460 25,127 41,456 26,190 27,431 30,524 33,085 25,485 36,945 41,751 44,264 34,218 44,136 46,541 54,532 42,297 58,855 70,400 73,552 49,521
Operating lease liabilities, current - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 4,909 5,266 5,560 7,041 7,852 8,851 9,080 9,029 9,844 10,113 10,761 11,048 11,934 10,308 9,821 9,057 8,322
Current portion of long-term debt 476 668 1,311 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Income tax liabilities 9,314 5,468 1,218 1,277 1,107 670 540 1,321 996 1,182 - 0 11,953 22,801 - 0 - 0 5,833 6,064 832 696 15,592 23,800 683 549 3,829 2,594
Current portion of finance lease obligations 1,431 1,327 485 1,515 2,140 2,021 2,140 1,970 2,027 2,045 2,144 1,846 1,615 3,139 3,101 2,934 2,640 2,393 2,528 2,512 7,206 7,813 7,410 6,982 6,555
Contingent consideration 1,235 1,275 1,198 1,198 1,660 1,717 1,717 1,717 - 0 - 0 - 0 - 0 - 0 - 0 1,193 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Other current liabilities 2,744 637 588 1,116 1,993 2,101 3,986 6,716 6,745 6,025 7,146 8,310 7,585 8,476 9,987 8,863 9,841 11,447 14,295 8,200 15,656 14,119 18,351 13,481 15,167
Total current liabilities 30,343 25,972 28,208 34,020 30,680 36,091 37,615 57,033 44,688 47,984 57,863 68,910 76,010 66,248 74,750 83,855 75,368 79,525 88,197 103,482 113,513 104,901 119,874 121,563 94,618
Operating lease liabilities, non-current - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 74,334 75,861 75,611 74,086 74,218 73,369 72,802 71,563 75,124 76,265 79,571 77,297 76,805 77,569 79,108 77,917 76,236
Long-term debt 72,609 72,487 72,364 22,000 22,000 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Finance lease obligations 4,012 3,682 3,351 3,447 4,112 3,618 3,106 2,579 2,043 1,598 1,120 779 497 3,938 3,406 2,865 2,344 1,844 1,331 812 9,399 7,937 6,775 5,595 4,426
Deferred tax liabilities 34,944 33,471 32,656 31,418 30,090 28,243 29,732 30,307 28,291 26,239 24,174 12,890 7,527 1,132 9,334 8,119 7,514 7,031 9,635 8,509 8,351 8,572 8,322 11,467 10,856
Other non-current liabilities 2,527 2,425 3,087 3,292 2,896 2,734 2,788 3,209 2,638 3,000 2,632 3,504 3,415 3,756 3,602 2,690 2,752 2,815 3,039 2,651 8,494 7,934 5,567 6,208 7,004
Contingent considerations non current 395 435 462 462 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Total liabilities $ 144,830 $ 138,472 $ 140,128 $ 94,639 $ 89,778 $ 70,686 $ 73,241 $ 93,128 $ 151,994 $ 154,682 $ 161,400 $ 160,169 $ 161,667 $ 148,443 $ 163,894 $ 169,092 $ 163,102 $ 167,480 $ 181,773 $ 192,751 $ 216,562 $ 206,913 $ 219,646 $ 222,750 $ 193,140
Stockholders' equity:
Common stock 419 419 420 140 140 158 159 162 163 164 165 165 166 167 170 171 172 173 173 174 175 176 176 177 177
Preferred Stock - 0 - 0 - 0 610 610 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
Additional paid-in capital 284,050 285,241 287,546 620,679 623,755 670,674 677,588 717,228 729,899 737,574 744,008 756,299 769,142 787,562 857,561 878,331 899,354 926,062 949,456 974,383 998,666 1,028,443 1,046,527 1,059,938 1,065,355
Treasury stock, at cost - 0 - 0 - 0 (260,686) (260,686) - 0 (1,802) (1,802) (2,860) (7,546) (1,002) (796) (669) (528) (397) (743) (1,146) (25,443) (50,700) (131,620) (216,784) (217,121) (260,011) (247,982) (304,943)
Retained earnings 36,928 41,006 46,811 54,941 60,585 48,017 55,941 84,249 88,828 99,118 109,449 127,517 139,692 152,531 165,878 198,983 206,139 213,613 231,814 255,214 257,575 266,333 276,535 305,864 312,274
Accumulated other comprehensive income (loss), net of income taxes (220) 11 421 1,011 212 567 870 (771) (2,341) (7,975) (12,605) (6,326) (5,133) (5,510) (11,927) (2,803) (7,428) (9,242) (163) (14,692) (7,199) 12,184 13,023 13,335 8,404
Total equity $ 321,177 $ 326,677 $ 335,198 $ 416,695 $ 424,616 $ 719,416 $ 732,756 $ 799,066 $ 813,689 $ 821,335 $ 840,015 $ 876,859 $ 903,198 $ 934,222 $ 1,011,285 $ 1,073,939 $ 1,097,091 $ 1,105,163 $ 1,130,580 $ 1,083,459 $ 1,032,433 $ 1,090,015 $ 1,076,250 $ 1,131,332 $ 1,081,267
Total liabilities & equity $ 466,007 $ 465,149 $ 475,326 $ 511,334 $ 514,394 $ 790,102 $ 805,997 $ 892,194 $ 965,683 $ 976,017 $ 1,001,415 $ 1,037,028 $ 1,064,865 $ 1,082,665 $ 1,175,179 $ 1,243,031 $ 1,260,193 $ 1,272,643 $ 1,312,353 $ 1,276,210 $ 1,248,995 $ 1,296,928 $ 1,295,896 $ 1,354,082 $ 1,274,407

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