Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 01, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001107843 | |
Entity Registrant Name | QUALYS, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-35662 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 77-0534145 | |
Entity Address, Address Line One | 919 E. Hillsdale Boulevard, 4th Floor | |
Entity Address, City or Town | Foster City | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94404 | |
City Area Code | 650 | |
Local Phone Number | 801-6100 | |
Title of 12(b) Security | Common stock, $0.001 par value per share | |
Trading Symbol | QLYS | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 38,363,617 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 120,965 | $ 137,328 |
Short-term marketable securities | 298,124 | 267,960 |
Accounts receivable, net of allowance of $978 and $793 as of June 30, 2022 and December 31, 2021, respectively | 97,692 | 108,998 |
Prepaid expenses and other current assets | 34,959 | 32,112 |
Total current assets | 551,740 | 546,398 |
Long-term marketable securities | 80,122 | 111,198 |
Property and equipment, net | 57,830 | 61,854 |
Operating leases - right of use asset | 33,451 | 37,016 |
Deferred tax assets, net | 35,426 | 25,087 |
Intangible assets, net | 3,365 | 6,545 |
Goodwill | 7,447 | 7,447 |
Restricted cash | 1,200 | 1,200 |
Other noncurrent assets | 18,430 | 17,814 |
Total assets | 789,011 | 814,559 |
Current liabilities: | ||
Accounts payable | 2,132 | 1,296 |
Accrued liabilities | 37,987 | 32,504 |
Deferred revenues, current | 275,725 | 257,872 |
Operating lease liabilities, current | 11,545 | 12,608 |
Total current liabilities | 327,389 | 304,280 |
Deferred revenues, noncurrent | 28,358 | 32,753 |
Operating lease liabilities, noncurrent | 31,335 | 35,914 |
Other noncurrent liabilities | 5,091 | 4,898 |
Total liabilities | 392,173 | 377,845 |
Commitments and contingencies (Note 8) | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value; 20,000 shares authorized, no shares issued and outstanding at June 30, 2022 and December 31, 2021 | 0 | 0 |
Common stock, $0.001 par value; 1,000,000 shares authorized; 38,517 and 39,112 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively | 39 | 39 |
Additional paid-in capital | 493,725 | 477,323 |
Accumulated other comprehensive income (loss) | (625) | 1,007 |
Accumulated deficit | (96,301) | (41,655) |
Total stockholders’ equity | 396,838 | 436,714 |
Total liabilities and stockholders’ equity | $ 789,011 | $ 814,559 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Allowance for doubtful accounts receivable | $ 978 | $ 793 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 20,000 | 20,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par or stated value per share (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Common stock, shares issued (in shares) | 38,517 | 39,112 |
Common stock, shares outstanding (in shares) | 38,517 | 39,112 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenues | $ 119,893 | $ 99,702 | $ 233,313 | $ 196,458 |
Cost of revenues | 25,046 | 21,552 | 49,048 | 43,232 |
Gross profit | 94,847 | 78,150 | 184,265 | 153,226 |
Operating expenses: | ||||
Research and development | 24,791 | 19,805 | 47,898 | 37,554 |
Sales and marketing | 23,730 | 17,770 | 43,872 | 35,759 |
General and administrative | 13,333 | 11,213 | 25,967 | 53,256 |
Total operating expenses | 61,854 | 48,788 | 117,737 | 126,569 |
Income from operations | 32,993 | 29,362 | 66,528 | 26,657 |
Other income (expense), net: | ||||
Interest expense | 0 | 0 | 0 | (4) |
Interest income | 839 | 567 | 1,357 | 1,313 |
Other income (expense), net | (1,710) | (80) | (2,420) | (324) |
Total other income (expense), net | (871) | 487 | (1,063) | 985 |
Income before income taxes | 32,122 | 29,849 | 65,465 | 27,642 |
Income tax provision | 5,526 | 8,707 | 13,459 | 6,272 |
Net income | $ 26,596 | $ 21,142 | $ 52,006 | $ 21,370 |
Net income per share: | ||||
Basic (in dollars per share) | $ 0.69 | $ 0.54 | $ 1.34 | $ 0.55 |
Diluted (in dollars per share) | $ 0.67 | $ 0.53 | $ 1.31 | $ 0.53 |
Weighted average shares used in computing net income per share: | ||||
Basic (in shares) | 38,738 | 39,099 | 38,864 | 39,154 |
Diluted (in shares) | 39,689 | 40,077 | 39,844 | 40,253 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income | $ 26,596 | $ 21,142 | $ 52,006 | $ 21,370 |
Other comprehensive income (loss), net of tax | ||||
Net change in unrealized losses on available-for-sale debt securities, net of tax | (933) | (202) | (3,061) | (591) |
Net change in unrealized gains on cash flow hedges, net of tax | 978 | (183) | 1,429 | 810 |
Other comprehensive income (loss), net of tax | 45 | (385) | (1,632) | 219 |
Comprehensive income | $ 26,641 | $ 20,757 | $ 50,374 | $ 21,589 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flow from operating activities: | ||
Net income | $ 52,006 | $ 21,370 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization expense | 17,552 | 17,869 |
Bad debt expense | 297 | 152 |
Loss on disposal of property and equipment | 5 | 12 |
Stock-based compensation | 24,565 | 46,755 |
Amortization of premiums on marketable securities | 1,158 | 2,029 |
Deferred income taxes | (10,861) | (722) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 11,009 | 13,983 |
Prepaid expenses and other assets | (1,085) | (6,014) |
Accounts payable | 917 | 947 |
Accrued liabilities | 3,830 | 3,032 |
Deferred revenues | 13,458 | 12,827 |
Net cash provided by operating activities | 112,851 | 112,240 |
Cash flow from investing activities: | ||
Purchases of marketable securities | (177,171) | (201,411) |
Sales and maturities of marketable securities | 173,922 | 205,143 |
Purchases of property and equipment | (11,150) | (12,911) |
Proceeds from disposal of property and equipment | 0 | 6 |
Net cash used in investing activities | (14,399) | (9,173) |
Cash flow from financing activities: | ||
Repurchases of common stock | (117,813) | (63,252) |
Proceeds from exercise of stock options | 9,073 | 4,438 |
Payments for taxes related to net share settlement of equity awards | (8,161) | (21,017) |
Proceeds from issuance of common stock through employee stock purchase plan | 2,086 | 0 |
Principal payments under finance lease obligations | 0 | (90) |
Net cash used in financing activities | (114,815) | (79,921) |
Net increase (decrease) in cash, cash equivalents and restricted cash | (16,363) | 23,146 |
Cash, cash equivalents and restricted cash at beginning of period | 138,528 | 75,332 |
Cash, cash equivalents and restricted cash at end of period | $ 122,165 | $ 98,478 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total | |
Balances (in shares) at Dec. 31, 2020 | 39,253 | |||||
Balance at Dec. 31, 2020 | $ 39 | $ 401,359 | $ (484) | $ 3,568 | $ 404,482 | |
Net income | 0 | 0 | 0 | 228 | 228 | |
Other comprehensive income (loss), net of tax | $ 0 | 0 | 604 | 0 | 604 | |
Issuance of common stock upon exercise of stock options (in shares) | 69 | |||||
Issuance of common stock upon exercise of stock options | $ 0 | 2,264 | 0 | 0 | 2,264 | |
Repurchase of common stock (in shares) | (269) | |||||
Repurchase of common stock | $ 0 | (3,232) | 0 | (27,797) | (31,029) | |
Issuance of common stock upon vesting of restricted stock units (in shares) | 305 | |||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 | |
Taxes related to net share settlement of equity awards (in shares) | (155) | |||||
Taxes related to net share settlement of equity awards | $ 0 | (17,643) | 0 | 0 | (17,643) | |
Stock-based compensation | $ 0 | 38,202 | 0 | 0 | 38,202 | |
Balances (in shares) at Mar. 31, 2021 | 39,203 | |||||
Balance at Mar. 31, 2021 | $ 39 | 420,950 | 120 | (24,001) | 397,108 | |
Balances (in shares) at Dec. 31, 2020 | 39,253 | |||||
Balance at Dec. 31, 2020 | $ 39 | 401,359 | (484) | 3,568 | 404,482 | |
Net income | 21,370 | |||||
Other comprehensive income (loss), net of tax | 219 | |||||
Balances (in shares) at Jun. 30, 2021 | 38,995 | |||||
Balance at Jun. 30, 2021 | $ 39 | 424,507 | (265) | (31,286) | 392,995 | |
Balances (in shares) at Mar. 31, 2021 | 39,203 | |||||
Balance at Mar. 31, 2021 | $ 39 | 420,950 | 120 | (24,001) | 397,108 | |
Net income | 0 | 0 | 0 | 21,142 | 21,142 | |
Other comprehensive income (loss), net of tax | $ 0 | 0 | (385) | 0 | (385) | |
Issuance of common stock upon exercise of stock options (in shares) | 57 | |||||
Issuance of common stock upon exercise of stock options | $ 0 | 2,174 | 0 | 0 | 2,174 | |
Repurchase of common stock (in shares) | (316) | |||||
Repurchase of common stock | $ 0 | (3,796) | 0 | (28,427) | (32,223) | |
Issuance of common stock upon vesting of restricted stock units (in shares) | 84 | |||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 | |
Taxes related to net share settlement of equity awards (in shares) | (33) | |||||
Taxes related to net share settlement of equity awards | $ 0 | (3,374) | 0 | 0 | (3,374) | |
Stock-based compensation | $ 0 | 8,553 | 0 | 0 | 8,553 | |
Balances (in shares) at Jun. 30, 2021 | 38,995 | |||||
Balance at Jun. 30, 2021 | $ 39 | 424,507 | (265) | (31,286) | 392,995 | |
Balances (in shares) at Dec. 31, 2021 | 39,112 | |||||
Balance at Dec. 31, 2021 | $ 39 | 477,323 | 1,007 | (41,655) | 436,714 | |
Net income | 0 | 0 | 0 | 25,410 | 25,410 | |
Other comprehensive income (loss), net of tax | $ 0 | 0 | (1,677) | 0 | (1,677) | |
Issuance of common stock upon exercise of stock options (in shares) | 66 | |||||
Issuance of common stock upon exercise of stock options | $ 0 | 2,569 | 0 | 0 | 2,569 | |
Repurchase of common stock (in shares) | (368) | |||||
Repurchase of common stock | $ 0 | (4,416) | 0 | (42,165) | (46,581) | |
Issuance of common stock upon vesting of restricted stock units (in shares) | 70 | |||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 | |
Taxes related to net share settlement of equity awards (in shares) | (28) | |||||
Taxes related to net share settlement of equity awards | $ 0 | (3,631) | 0 | 0 | (3,631) | |
Issuance of common stock through employee stock purchase plan (in shares) | 23 | |||||
Issuance of common stock through employee stock purchase plan | 2,086 | 2,086 | ||||
Stock-based compensation | $ 0 | 11,745 | 0 | 0 | 11,745 | |
Balances (in shares) at Mar. 31, 2022 | 38,875 | |||||
Balance at Mar. 31, 2022 | $ 39 | 485,676 | (670) | (58,410) | 426,635 | |
Balances (in shares) at Dec. 31, 2021 | 39,112 | |||||
Balance at Dec. 31, 2021 | $ 39 | 477,323 | 1,007 | (41,655) | 436,714 | |
Net income | 52,006 | |||||
Other comprehensive income (loss), net of tax | $ (1,632) | |||||
Issuance of common stock upon exercise of stock options (in shares) | [1] | 212 | ||||
Balances (in shares) at Jun. 30, 2022 | 38,517 | |||||
Balance at Jun. 30, 2022 | $ 39 | 493,725 | (625) | (96,301) | $ 396,838 | |
Balances (in shares) at Mar. 31, 2022 | 38,875 | |||||
Balance at Mar. 31, 2022 | $ 39 | 485,676 | (670) | (58,410) | 426,635 | |
Net income | 0 | 0 | 0 | 26,596 | 26,596 | |
Other comprehensive income (loss), net of tax | $ 0 | 0 | 45 | 0 | 45 | |
Issuance of common stock upon exercise of stock options (in shares) | 146 | |||||
Issuance of common stock upon exercise of stock options | $ 0 | 6,504 | 0 | 0 | 6,504 | |
Repurchase of common stock (in shares) | (561) | |||||
Repurchase of common stock | $ 0 | (6,745) | 0 | (64,487) | (71,232) | |
Issuance of common stock upon vesting of restricted stock units (in shares) | 90 | |||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 | |
Taxes related to net share settlement of equity awards (in shares) | (33) | |||||
Taxes related to net share settlement of equity awards | $ 0 | (4,530) | 0 | 0 | (4,530) | |
Stock-based compensation | $ 0 | 12,820 | 0 | 0 | 12,820 | |
Balances (in shares) at Jun. 30, 2022 | 38,517 | |||||
Balance at Jun. 30, 2022 | $ 39 | $ 493,725 | $ (625) | $ (96,301) | $ 396,838 | |
[1]Included 348 thousand shares of PSOs. |
Note 1 - Description of Busines
Note 1 - Description of Business and Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 1. Description of Business and Summary of Significant Accounting Policies Description of Business Qualys, Inc. (the “Company”, "we", "us", "our") was incorporated in the state of Delaware on December 30, 1999. Basis of Presentation The accompanying unaudited condensed consolidated financial statements and condensed footnotes have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information as well as the instructions to Form 10 December 31, 2021 not three six June 30, 2022 not December 31, 2022 10 December 31, 2021 February 22, 2022. Risks and Uncertainties In March 2020, 19 19, may may not 19 not 2022, 19 may Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the condensed consolidated financial statements and the reported results of operations during the reporting period. The Company’s management regularly assesses these estimates, which primarily affect revenue recognition, allowance for credit loss, the valuation of goodwill and intangible assets, leases, stock-based compensation and income tax provision. Actual results could differ from those estimates and such differences may Non-Marketable Securities During the fiscal year ended December 31, 2018, not no may not No not Recently Adopted Accounting Pronouncements None. Recently Issued Accounting Pronouncements Not The Company does not not There have been no 1" 10 December 31, 2021. |
Note 2 - Fair Value of Financia
Note 2 - Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 2. Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. For certain of the Company’s financial instruments, including certain cash equivalents, accounts receivable, accounts payable and accrued liabilities, the carrying amounts approximate their fair values due to the relatively short maturity of these balances. The Company measures and reports certain cash equivalents, marketable securities, derivative foreign currency forward contracts at fair value in accordance with the provisions of the authoritative accounting guidance that addresses fair value measurements. This guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three Level 1 Level 2 Level 3 The Company's financial instruments consist of assets and liabilities measured using Level 1 2 1 2 The Company's cash and cash equivalents, and marketable securities consist of the following: June 30, 2022 Unrealized Unrealized Amortized Cost Gains Losses Fair Value (in thousands) Cash and cash equivalents: Cash $ 84,920 $ — $ — $ 84,920 Money market funds 35,046 — — 35,046 Commercial paper 999 — — 999 Total 120,965 — — 120,965 Short-term marketable securities: Commercial paper 32,137 — (37 ) 32,100 Corporate bonds 38,525 3 (343 ) 38,185 Asset-backed securities 5 — — 5 U.S. Treasury and government agencies 228,376 — (1,545 ) 226,831 Foreign government 1,007 — (4 ) 1,003 Total 300,050 3 (1,929 ) 298,124 Long-term marketable securities: Corporate bonds 36,998 — (991 ) 36,007 Asset-backed securities 23,310 3 (170 ) 23,143 U.S. Treasury and government agencies 21,137 — (165 ) 20,972 Total 81,445 3 (1,326 ) 80,122 Total $ 502,460 $ 6 $ (3,255 ) $ 499,211 December 31, 2021 Unrealized Unrealized Amortized Cost Gains Losses Fair Value (in thousands) Cash and cash equivalents: Cash $ 61,220 $ — $ — $ 61,220 Money market funds 75,258 — — 75,258 Commercial paper 850 — — 850 Total 137,328 — — 137,328 Short-term marketable securities:(1) Commercial paper 18,046 — — 18,046 Corporate bonds 28,869 101 (7 ) 28,963 Asset-backed securities 3,952 — — 3,952 U.S. Treasury and government agencies 217,160 2 (163 ) 216,999 Total 268,027 103 (170 ) 267,960 Long-term marketable securities: Corporate bonds 57,762 160 (182 ) 57,740 Asset-backed securities 14,941 6 (36 ) 14,911 U.S. Treasury and government agencies 37,664 — (136 ) 37,528 Foreign government 1,007 12 — 1,019 Total 111,374 178 (354 ) 111,198 Total $ 516,729 $ 281 $ (524 ) $ 516,486 ( 1 2 10 December 31, 2021. As of June 30, 2022 12 not not December 31, 2021, 12 The following table sets forth by level within the fair value hierarchy the fair value of the Company's cash equivalents and marketable securities measured on a recurring basis: June 30, 2022 Level 1 Level 2 Fair Value (in thousands) Money market funds $ 35,046 $ — $ 35,046 Commercial paper — 33,099 33,099 Corporate bonds — 74,192 74,192 Asset-backed securities — 23,148 23,148 U.S. Treasury and government agencies — 247,803 247,803 Foreign government — 1,003 1,003 Total $ 35,046 $ 379,245 $ 414,291 December 31, 2021 Level 1 Level 2 Fair Value (in thousands) Money market funds $ 75,258 $ — $ 75,258 Commercial paper — 18,896 18,896 Corporate bonds — 86,703 86,703 Asset-backed securities — 18,863 18,863 U.S. Treasury and government agencies — 254,527 254,527 Foreign government — 1,019 1,019 Total $ 75,258 $ 380,008 $ 455,266 The following summarizes the fair value of marketable securities by contractual maturity: June 30, 2022 Mature within Mature after One Year Mature over One Year through Two Years Two Years Fair Value (in thousands) Commercial paper $ 33,099 $ — $ — $ 33,099 Corporate bonds 38,185 26,411 9,596 74,192 Asset-backed securities 5 10,238 12,905 23,148 U.S. Treasury and government agencies 226,831 20,972 — 247,803 Foreign government 1,003 — — 1,003 Total $ 299,123 $ 57,621 $ 22,501 $ 379,245 Derivative Financial Instruments Designated cash flow hedges The Company enters into foreign currency forward contracts to reduce the risk of variability in future cash flow due to foreign currency exchange rate fluctuations from certain forecasted subscription revenue orders billed in British Pound ("GBP") and Euro and operating expenses incurred in Indian Rupee ("INR"), which are designated as cash flow hedges. Unrealized foreign exchange gains or losses related to those designated cash flow hedge contracts are recorded in Accumulated other comprehensive income ("AOCI") and will be reclassified into revenues or operating expenses, respectively, in the same periods when the hedged transactions are recognized in earnings. As of June 30, 2022 , the Company had designated cash flow hedge forward contracts with notional amounts of €29.4 £9.1 Rs.3,211.0 December 31, 2021 , the Company had designated cash flow hedge forward contracts with notional amounts of €29.8 £9.4 Rs.2,955.3 June 30, 2022 , a net amount of unrealized gain of $3.4 million before tax on the foreign currency forward contracts for GBP and Euro reported in AOCI is expected to be reclassified into revenue within the next 12 June 30, 2022, 12 Non-designated forward contracts The Company also uses foreign currency forward contracts to hedge certain foreign currency denominated assets or liabilities, which are not As of June 30, 2022 f €38.1 £17.1 Rs.281.6 December 31, 2021 €34.5 £11.6 Rs.74.9 C$2.5 CHF1.0 The following summarizes derivative financial instruments as of June 30, 2022 December 31, 2021 June 30, December 31, 2022 2021 Assets (in thousands) Foreign currency forward contracts designated as cash flow hedge $ 3,260 $ 1,737 Foreign currency forward contracts not designated as hedging instruments 3,917 1,599 Total $ 7,177 $ 3,336 Liabilities Foreign currency forward contracts designated as cash flow hedge $ (1,150 ) $ (181 ) Foreign currency forward contracts not designated as hedging instruments (126 ) (207 ) Total $ (1,276 ) $ (388 ) All foreign currency forward contracts were valued at fair value using Level 2 The following summarizes the gains (losses) recognized from forward contracts and other foreign currency transactions in other income (expense), net on the condensed consolidated statements of operations: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Net gains from non-designated forward contracts $ 3,810 $ (41 ) $ 4,965 $ 1,044 Other foreign currency transaction gains (losses) (5,520 ) 30 (7,338 ) (1,228 ) Total foreign exchange losses, net (1,710 ) (11 ) (2,373 ) (184 ) Other expenses — (69 ) (47 ) (140 ) Other expense, net $ (1,710 ) $ (80 ) $ (2,420 ) $ (324 ) |
Note 3 - Accumulated Other Comp
Note 3 - Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Accumulated Other Comprehensive Income Disclosure [Text Block] | NOTE 3. Accumulated Other Comprehensive Income (Loss) The components and changes in accumulated other comprehensive income (loss) for the three six June 30, 2022 2021 Available-for-sale debt securities Cash flow hedges Total (in thousands) Balances at December 31, 2021 $ (185 ) $ 1,192 $ 1,007 Change in unrealized gains (losses) during the period (2,070 ) 648 (1,422 ) Net gains reclassified into income during the period - (60 ) (60 ) Income tax provision (58 ) (137 ) (195 ) Net change during the period (2,128 ) 451 (1,677 ) Balances at March 31, 2022 (2,313 ) 1,643 (670 ) Change in unrealized gains (losses) during the period (933 ) 1,548 615 Net gains reclassified into income during the period - (244 ) (244 ) Income tax provision - (326 ) (326 ) Net change during the period (933 ) 978 45 Balances at June 30, 2022 (3,246 ) 2,621 (625 ) Balances at December 31, 2020 $ 1,224 $ (1,708 ) $ (484 ) Change in unrealized gains (losses) during the period (501 ) 1,092 591 Net losses reclassified into income during the period 8 192 200 Income tax benefit (provision) 104 (291 ) (187 ) Net change during the period (389 ) 993 604 Balances at March 31, 2021 835 (715 ) 120 Change in unrealized losses during the period (273 ) (394 ) (667 ) Net losses reclassified into income during the period 8 152 160 Income tax benefit 63 59 122 Net change during the period (202 ) (183 ) (385 ) Balances at June 30, 2021 633 (898 ) (265 ) The effects on income before income taxes of amounts reclassified from AOCI to the condensed consolidated statements of operations were as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Reclassification of AOCI - Available-for-sale debt securities Other income (expense), net $ — $ (8 ) $ — $ (16 ) Reclassification of AOCI - Cash flow hedges Revenues $ 269 $ (456 ) $ 223 $ (673 ) Cost of revenues (6 ) 61 17 66 Research and development expenses (16 ) 204 52 221 Sales and marketing expenses (1 ) 12 3 13 General and administrative expenses (2 ) 27 9 29 Total $ 244 $ (152 ) $ 304 $ (344 ) |
Note 4 - Property and Equipment
Note 4 - Property and Equipment, Net | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4. Property and Equipment, Net Property and equipment, net, consists of the following: June 30, December 31, 2022 2021 (in thousands) Computer equipment $ 170,945 $ 161,809 Computer software 25,805 25,807 Leasehold improvements 21,009 21,092 Scanner appliances 16,584 16,510 Furniture, fixtures and equipment 6,434 6,479 Total property and equipment 240,777 231,697 Less: accumulated depreciation and amortization (182,947 ) (169,843 ) Property and equipment, net $ 57,830 $ 61,854 As of June 30, 2022 and December 31, 2021 , physical scanner appliances and other computer equipment that are or will be subject to leases by customers had a net carrying value of $5.0 million and $5.3 not $1.3 three June 30, 2022 2021 , and $14.0 million and $14.2 million for the six June 30, 2022 2021, |
Note 5 - Revenue From Contracts
Note 5 - Revenue From Contracts With Customers | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 5. Revenue from Contracts with Customers The Company records deferred revenue when cash payments are received or due in advance of its performance obligations offset by revenue recognized in the period. Revenues o f $75.9 million and $63.5 million were recognized during the three June 30, 2022 2021 , respectively, which amounts were included in the deferred revenue balances as of December 31, 2021 2020 , respectively. f $175.9 million and $147.0 million were recognized during the six June 30, 2022 2021 , respectively, which amounts were included in the deferred revenue balances as of December 31, 2021 2020 , respectively. The Company's payment terms vary by the type and location of its customers. The term between invoicing and when payment is due is not The following table sets forth the expected revenue from all remaining performance obligations as of June 30, 2022 (in thousands) 2022 (remaining six months) $ 81,069 2023 126,104 2024 54,405 2025 7,507 2026 828 2027 and thereafter 248 Total $ 270,161 Revenues allocated to remaining performance obligations represents the transaction price of noncancelable orders for which service has not one From time to time, the Company enters into contracts with customers that extend beyond one one not Revenues by sales channel are as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Direct $ 70,176 $ 58,782 $ 136,628 $ 116,734 Partner 49,717 40,920 96,685 79,724 Total $ 119,893 $ 99,702 $ 233,313 $ 196,458 The Company utilizes partners to enable and accelerate the adoption of its cloud platform by increasing its distribution capabilities and market awareness of its cloud platform as well as by targeting geographic regions outside the reach of its direct sales force. The Company's channel partners maintain relationships with their customers throughout the territories in which they operate and provide their customers with services and third may one not 12, Deferred costs to obtain contracts are as follows: June 30, 2022 December 31, 2021 (in thousands) Current $ 4,470 $ 4,223 Noncurrent $ 8,727 $ 8,391 For the three June 30, 2022 2021 , the Company recognized $1.2 million and $0.9 million, respectively, of amortization expense relating to deferred costs to obtain contracts in sales and marketing expense in the condensed consolidated statements of operations. For the six June 30, 2022 2021 , the Company recognized $2.4 million and $1.8 million, respectively, of amortization expense relating to deferred costs to obtain contracts in sales and marketing expense in the condensed consolidated statements of operations. During the same periods, there was no impairment loss related to the deferred costs to obtain contracts. |
Note 6 - Intangible Assets, Net
Note 6 - Intangible Assets, Net | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 6. Intangible Assets, Net Intangible assets consist primarily of developed technology and patent licenses acquired from business or asset acquisitions. Acquired intangibles are amortized on a straight-line basis over the respective estimated useful lives of the assets. The carrying values of intangible assets are as follows: June 30, 2022 Weighted Average Weighted Average Life Remaining Life Accumulated (in thousands) (Years) (Years) Cost Amortization Net Book Value Developed technology 4.5 0.5 $ 28,556 $ (25,468 ) $ 3,088 Patent licenses 14.0 2.2 1,387 (1,171 ) 216 Non-compete agreements 2.0 0.1 500 (479 ) 21 Total intangibles subject to amortization $ 30,443 $ (27,118 ) 3,325 Intangible assets not subject to amortization 40 Total intangible assets, net $ 3,365 December 31, 2021 Weighted Average Weighted Average Life Remaining Life Accumulated (in thousands) (Years) (Years) Cost Amortization Net Book Value Developed technology 4.5 0.9 $ 28,556 $ (22,463 ) $ 6,093 Patent licenses 14.0 2.7 1,387 (1,121 ) 266 Non-compete agreements 2.0 0.6 500 (354 ) 146 Total intangibles subject to amortization $ 30,443 $ (23,938 ) 6,505 Intangible assets not subject to amortization 40 Total intangible assets, net $ 6,545 Intangible asset amortization expense was $1 .5 and $1.6 million for the three June 30, 2022 2021 , respectively, and $3.2 million and $3.3 million for the six June 30, 2022 2021 , respectively . Intangible asset amortization expenses were primarily recorded in cost of revenues in the condensed consolidated statements of operations. As of June 30, 2022 (in thousands) 2022 (remaining six months) $ 1,883 2023 590 2024 452 2025 240 2026 160 Total expected future amortization expense $ 3,325 |
Note 7 - Leases
Note 7 - Leases | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases and Finance Lease [Text Block] | NOTE 7. Leases The Company leases certain offices, computer equipment and its data center facilities under non-cancelable operating leases for varying periods through 2028. not not three June 30, 2022 2021 , respectively, and $7.3 million and $7.2 million for the six June 30, 2022 2021, Supplemental cash flow information related to operating leases was as follows: Six Months Ended June 30, 2022 2021 (in thousands) Cash payments included in the measurement of lease liabilities $ 8,190 $ 6,853 Lease liabilities arising from obtaining right-of-use assets $ 2,486 $ 1,179 The weighted average remaining lease term and the weighted average discount rate of the Company's operating leases were as follows: June 30, 2022 December 31, 2021 Weighted average remaining lease term (years) 2.9 3.3 Weighted average discount rate 4.9 % 4.8 % |
Note 8 - Commitment and Conting
Note 8 - Commitment and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 8. Commitments and Contingencies Indemnifications The Company from time to time enters into certain types of contracts that contingently require it to indemnify various parties against claims from third may may not not The Company maintains director and officer insurance, which may |
Note 9 - Stockholders' Equity a
Note 9 - Stockholders' Equity and Stock-based Compensation | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-Based Payments [Text Block] | NOTE 9. Stockholders' Equity and Stock-based Compensation Equity Incentive Plans Restated 2012 On June 8, 2022 ( 2012 2012 2012 2012 2012 2012 2012 2012 no 2012 As of June 30, 2022 , 3,089 thousand shares were available for grant under the Restated 2012 2021 On June 9, 2021, 2021 August 16 February 16 may first During the six June 30, 2022 , 22.5 thousand shares were issued in connection with the purchase of common stock by participating employees. As of June 30, 2022 , 577.5 thousand shares were available for future purchases. Stock-based Compensation The following table shows a summary of the stock-based compensation expense included in the condensed consolidated statements of operations: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Cost of revenues $ 1,273 $ 841 $ 2,355 $ 1,716 Research and development 3,541 2,582 6,828 4,797 Sales and marketing 2,305 1,086 4,334 2,714 General and administrative 5,701 4,044 11,048 37,528 Total stock-based compensation $ 12,820 $ 8,553 $ 24,565 $ 46,755 As of June 30, 2022 , the Company had unrecognized stock-based compensation expenses of $19.7 million, $70.0 million, $4.0 million, and $0.2 million related to options, RSUs, performance-based RSUs, and ESPP purchase rights, respectively, which are expected to be recognized over weighted-average periods of 2.8 years, 2.7 years, 1.9 years, and 0.1 years, respectively. Performance-based Restricted Stock Units ("PSUs") and Performance-based Stock Options On October 28, 2021, three one 2022, 2023, 2024, first second 100% first second third third 100% second third not June 30, 2022, not no On April 27, 2021, three January 2021 December 2023. 12 100% The Company recognized $1.1 million of stock-based compensation expenses related to all PSUs during the three June 30, 2022, six June 30, 2022. On March 19, 2021, six June 30, 2021. Stock Option Activity A summary of the Company’s stock option activity is as follows: Weighted Weighted Average Outstanding Average Remaining Aggregate Options Exercise Price Contractual Life Intrinsic Value (in thousands) (Years) (in thousands) Balance as of December 31, 2021 1,838 $ 66.05 6.0 $ 130,791 Granted 278 $ 135.01 Exercised (212 ) $ 42.72 Canceled (89 ) $ 111.97 Balance as of June 30, 2022 1,815 $ 77.08 6.2 $ 91,404 Vested and expected to vest - June 30, 2022 1,618 $ 71.75 5.9 $ 89,608 Exercisable - June 30, 2022 1,087 $ 49.76 4.4 $ 83,037 Restricted Stock Unit Activity A summary of the Company’s RSU activity is as follows: Weighted Average Grant Date Outstanding Fair Value RSUs Per Share (in thousands) Balance as of December 31, 2021 917 (1) $ 104.78 Granted 190 $ 137.19 Vested (160 ) $ 98.01 Canceled (83 ) $ 116.12 Balance as of June 30, 2022 864 (1) $ 111.89 Outstanding and expected to vest - June 30, 2022 749 $ 110.04 ( 1 2021. Share Repurchase Program The Company's share repurchase program was authorized by the board of directors as follows: Announcement Date Authorized Dollar Value (in millions) February 12, 2018 $ 100.0 October 30, 2018 100.0 October 30, 2019 100.0 May 7, 2020 100.0 February 10, 2021 100.0 November 3, 2021 200.0 May 4, 2022 200.0 Total as of June 30, 2022 $ 900.0 Shares may 10b 18 1934, 10b5 1 first During the six June 30, 2022 2021, June 30, 2022 |
Note 10 - Net Income Per Share
Note 10 - Net Income Per Share | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 10. Net Income Per Share The computations for basic and diluted net income per share are as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands, except per share data) (in thousands, except per share data) Numerator: Net income $ 26,596 $ 21,142 $ 52,006 $ 21,370 Denominator: Basic weighted average shares 38,738 39,099 38,864 39,154 Effect of potentially dilutive shares: Stock options 719 831 744 851 Restricted stock units 230 147 233 248 Employee stock purchase plan 2 — 3 — Diluted weighted average shares 39,689 40,077 39,844 40,253 Net income per share: Basic $ 0.69 $ 0.54 $ 1.34 $ 0.55 Diluted $ 0.67 $ 0.53 $ 1.31 $ 0.53 Potentially dilutive shares not Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Stock options 688 675 645 524 Restricted stock units 88 153 44 96 Employee stock purchase plan — — 4 — Total anti-dilutive shares 776 828 693 620 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 11. Income Taxes The Company's income tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. The Company's quarterly tax provision, and estimate of its annual effective tax rate, is subject to variation due to several factors, including variability in pre-tax income (or loss), the mix of jurisdictions to which such income relates, changes in how the Company does business, tax law developments and possible outcomes of audits. The Company's estimated effective tax rate for the year differs from the U.S. statutory rate of 21% The Company recorded an income tax provision of $5.5 million and $8.7 million for the three June 30, 2022 2021 , respectively, resulting in an effective tax rate of 17.2% and 29.2%, respectively. The decrease in income tax provision for the three June 30, 2022 compared to the three June 30, 2021 was primarily due to higher excess tax benefits arising from stock-based compensation and the effects of a tax law change related to mandatory capitalization of research and development expenses starting January 1, 2022. The Company recorded an income tax provision of $13.5 million and $6.3 million for the six June 30, 2022 2021 , respectively, resulting in an effective tax rate of 20.6% and 22.7%, respectively. The increase in income tax provision for the six June 30, 2022 compared to the six June 30, 2021 was primarily due to six June 30, 2021, a tax law change related to mandatory capitalization of research and development expenses starting January 1, 2022. As of June 30, 2022 , the Company had unrecognized tax benefits of $10.1 million, of which $5.1 million, if recognized, would favorably impact the Company's effective tax rate. As of December 31, 2021 , the Company had unrecognized tax benefits of $9.7 million, of which $4.9 million, if recognized, would favorably impact the Company's effective tax rate. The Company does not 12 On June 29, 2020, 2020 $5 2020, 2021 2022. not three six June 30, 2022 2020 |
Note 12 - Segment Information a
Note 12 - Segment Information and Information About Geographic Area | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 12. Segment Information and Information about Geographic Area Under ASC 280 one one Revenue by geographic area, based on the customer's billing address, is as follows: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) United States $ 71,608 $ 60,991 $ 139,084 $ 121,123 Foreign 48,285 38,711 94,229 75,335 Total revenues $ 119,893 $ 99,702 $ 233,313 $ 196,458 Long-lived assets, which consist of Property and equipment, net and Operating leases - right of use asset, by geographic area, are as follows: June 30, December 31, 2022 2021 (in thousands) United States $ 62,655 $ 66,440 India 19,270 20,401 Rest of world 9,356 12,029 Total $ 91,281 $ 98,870 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Description Of Business Policy [Policy Text Block] | Description of Business Qualys, Inc. (the “Company”, "we", "us", "our") was incorporated in the state of Delaware on December 30, 1999. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited condensed consolidated financial statements and condensed footnotes have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information as well as the instructions to Form 10 December 31, 2021 not three six June 30, 2022 not December 31, 2022 10 December 31, 2021 February 22, 2022. |
Risk and Uncertainties, Policy [Policy Text Block] | Risks and Uncertainties In March 2020, 19 19, may may not 19 not 2022, 19 may |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the condensed consolidated financial statements and the reported results of operations during the reporting period. The Company’s management regularly assesses these estimates, which primarily affect revenue recognition, allowance for credit loss, the valuation of goodwill and intangible assets, leases, stock-based compensation and income tax provision. Actual results could differ from those estimates and such differences may |
Securities Owned Not Readily Marketable, Policy [Policy Text Block] | Non-Marketable Securities During the fiscal year ended December 31, 2018, not no may not No not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements None. Recently Issued Accounting Pronouncements Not The Company does not not There have been no 1" 10 December 31, 2021. |
Note 2 - Fair Value of Financ_2
Note 2 - Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Cash and Cash Equivalents and Debt Securities, Available-for-sale, Amortized Cost to Fair Value [Table Text Block] | June 30, 2022 Unrealized Unrealized Amortized Cost Gains Losses Fair Value (in thousands) Cash and cash equivalents: Cash $ 84,920 $ — $ — $ 84,920 Money market funds 35,046 — — 35,046 Commercial paper 999 — — 999 Total 120,965 — — 120,965 Short-term marketable securities: Commercial paper 32,137 — (37 ) 32,100 Corporate bonds 38,525 3 (343 ) 38,185 Asset-backed securities 5 — — 5 U.S. Treasury and government agencies 228,376 — (1,545 ) 226,831 Foreign government 1,007 — (4 ) 1,003 Total 300,050 3 (1,929 ) 298,124 Long-term marketable securities: Corporate bonds 36,998 — (991 ) 36,007 Asset-backed securities 23,310 3 (170 ) 23,143 U.S. Treasury and government agencies 21,137 — (165 ) 20,972 Total 81,445 3 (1,326 ) 80,122 Total $ 502,460 $ 6 $ (3,255 ) $ 499,211 December 31, 2021 Unrealized Unrealized Amortized Cost Gains Losses Fair Value (in thousands) Cash and cash equivalents: Cash $ 61,220 $ — $ — $ 61,220 Money market funds 75,258 — — 75,258 Commercial paper 850 — — 850 Total 137,328 — — 137,328 Short-term marketable securities:(1) Commercial paper 18,046 — — 18,046 Corporate bonds 28,869 101 (7 ) 28,963 Asset-backed securities 3,952 — — 3,952 U.S. Treasury and government agencies 217,160 2 (163 ) 216,999 Total 268,027 103 (170 ) 267,960 Long-term marketable securities: Corporate bonds 57,762 160 (182 ) 57,740 Asset-backed securities 14,941 6 (36 ) 14,911 U.S. Treasury and government agencies 37,664 — (136 ) 37,528 Foreign government 1,007 12 — 1,019 Total 111,374 178 (354 ) 111,198 Total $ 516,729 $ 281 $ (524 ) $ 516,486 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | June 30, 2022 Level 1 Level 2 Fair Value (in thousands) Money market funds $ 35,046 $ — $ 35,046 Commercial paper — 33,099 33,099 Corporate bonds — 74,192 74,192 Asset-backed securities — 23,148 23,148 U.S. Treasury and government agencies — 247,803 247,803 Foreign government — 1,003 1,003 Total $ 35,046 $ 379,245 $ 414,291 December 31, 2021 Level 1 Level 2 Fair Value (in thousands) Money market funds $ 75,258 $ — $ 75,258 Commercial paper — 18,896 18,896 Corporate bonds — 86,703 86,703 Asset-backed securities — 18,863 18,863 U.S. Treasury and government agencies — 254,527 254,527 Foreign government — 1,019 1,019 Total $ 75,258 $ 380,008 $ 455,266 |
Investments Classified by Contractual Maturity Date [Table Text Block] | June 30, 2022 Mature within Mature after One Year Mature over One Year through Two Years Two Years Fair Value (in thousands) Commercial paper $ 33,099 $ — $ — $ 33,099 Corporate bonds 38,185 26,411 9,596 74,192 Asset-backed securities 5 10,238 12,905 23,148 U.S. Treasury and government agencies 226,831 20,972 — 247,803 Foreign government 1,003 — — 1,003 Total $ 299,123 $ 57,621 $ 22,501 $ 379,245 |
Schedule of Derivative Instruments [Table Text Block] | June 30, December 31, 2022 2021 Assets (in thousands) Foreign currency forward contracts designated as cash flow hedge $ 3,260 $ 1,737 Foreign currency forward contracts not designated as hedging instruments 3,917 1,599 Total $ 7,177 $ 3,336 Liabilities Foreign currency forward contracts designated as cash flow hedge $ (1,150 ) $ (181 ) Foreign currency forward contracts not designated as hedging instruments (126 ) (207 ) Total $ (1,276 ) $ (388 ) |
Derivative Instruments, Gain (Loss) [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Net gains from non-designated forward contracts $ 3,810 $ (41 ) $ 4,965 $ 1,044 Other foreign currency transaction gains (losses) (5,520 ) 30 (7,338 ) (1,228 ) Total foreign exchange losses, net (1,710 ) (11 ) (2,373 ) (184 ) Other expenses — (69 ) (47 ) (140 ) Other expense, net $ (1,710 ) $ (80 ) $ (2,420 ) $ (324 ) |
Note 3 - Accumulated Other Co_2
Note 3 - Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Available-for-sale debt securities Cash flow hedges Total (in thousands) Balances at December 31, 2021 $ (185 ) $ 1,192 $ 1,007 Change in unrealized gains (losses) during the period (2,070 ) 648 (1,422 ) Net gains reclassified into income during the period - (60 ) (60 ) Income tax provision (58 ) (137 ) (195 ) Net change during the period (2,128 ) 451 (1,677 ) Balances at March 31, 2022 (2,313 ) 1,643 (670 ) Change in unrealized gains (losses) during the period (933 ) 1,548 615 Net gains reclassified into income during the period - (244 ) (244 ) Income tax provision - (326 ) (326 ) Net change during the period (933 ) 978 45 Balances at June 30, 2022 (3,246 ) 2,621 (625 ) Balances at December 31, 2020 $ 1,224 $ (1,708 ) $ (484 ) Change in unrealized gains (losses) during the period (501 ) 1,092 591 Net losses reclassified into income during the period 8 192 200 Income tax benefit (provision) 104 (291 ) (187 ) Net change during the period (389 ) 993 604 Balances at March 31, 2021 835 (715 ) 120 Change in unrealized losses during the period (273 ) (394 ) (667 ) Net losses reclassified into income during the period 8 152 160 Income tax benefit 63 59 122 Net change during the period (202 ) (183 ) (385 ) Balances at June 30, 2021 633 (898 ) (265 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Reclassification of AOCI - Available-for-sale debt securities Other income (expense), net $ — $ (8 ) $ — $ (16 ) Reclassification of AOCI - Cash flow hedges Revenues $ 269 $ (456 ) $ 223 $ (673 ) Cost of revenues (6 ) 61 17 66 Research and development expenses (16 ) 204 52 221 Sales and marketing expenses (1 ) 12 3 13 General and administrative expenses (2 ) 27 9 29 Total $ 244 $ (152 ) $ 304 $ (344 ) |
Note 4 - Property and Equipme_2
Note 4 - Property and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, December 31, 2022 2021 (in thousands) Computer equipment $ 170,945 $ 161,809 Computer software 25,805 25,807 Leasehold improvements 21,009 21,092 Scanner appliances 16,584 16,510 Furniture, fixtures and equipment 6,434 6,479 Total property and equipment 240,777 231,697 Less: accumulated depreciation and amortization (182,947 ) (169,843 ) Property and equipment, net $ 57,830 $ 61,854 |
Note 5 - Revenue From Contrac_2
Note 5 - Revenue From Contracts With Customers (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | (in thousands) 2022 (remaining six months) $ 81,069 2023 126,104 2024 54,405 2025 7,507 2026 828 2027 and thereafter 248 Total $ 270,161 |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Direct $ 70,176 $ 58,782 $ 136,628 $ 116,734 Partner 49,717 40,920 96,685 79,724 Total $ 119,893 $ 99,702 $ 233,313 $ 196,458 |
Contract With Customer, Commission Asset Balances [Table Text Block] | June 30, 2022 December 31, 2021 (in thousands) Current $ 4,470 $ 4,223 Noncurrent $ 8,727 $ 8,391 |
Note 6 - Intangible Assets, N_2
Note 6 - Intangible Assets, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | June 30, 2022 Weighted Average Weighted Average Life Remaining Life Accumulated (in thousands) (Years) (Years) Cost Amortization Net Book Value Developed technology 4.5 0.5 $ 28,556 $ (25,468 ) $ 3,088 Patent licenses 14.0 2.2 1,387 (1,171 ) 216 Non-compete agreements 2.0 0.1 500 (479 ) 21 Total intangibles subject to amortization $ 30,443 $ (27,118 ) 3,325 Intangible assets not subject to amortization 40 Total intangible assets, net $ 3,365 December 31, 2021 Weighted Average Weighted Average Life Remaining Life Accumulated (in thousands) (Years) (Years) Cost Amortization Net Book Value Developed technology 4.5 0.9 $ 28,556 $ (22,463 ) $ 6,093 Patent licenses 14.0 2.7 1,387 (1,121 ) 266 Non-compete agreements 2.0 0.6 500 (354 ) 146 Total intangibles subject to amortization $ 30,443 $ (23,938 ) 6,505 Intangible assets not subject to amortization 40 Total intangible assets, net $ 6,545 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (in thousands) 2022 (remaining six months) $ 1,883 2023 590 2024 452 2025 240 2026 160 Total expected future amortization expense $ 3,325 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Supplemental Cash Flow Disclosure [Table Text Block] | Six Months Ended June 30, 2022 2021 (in thousands) Cash payments included in the measurement of lease liabilities $ 8,190 $ 6,853 Lease liabilities arising from obtaining right-of-use assets $ 2,486 $ 1,179 |
Lessee, Weighted Average Remaining Lease Term and Weighted Average Discount Rate [Table Text Block] | June 30, 2022 December 31, 2021 Weighted average remaining lease term (years) 2.9 3.3 Weighted average discount rate 4.9 % 4.8 % |
Note 9 - Stockholders' Equity_2
Note 9 - Stockholders' Equity and Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Cost of revenues $ 1,273 $ 841 $ 2,355 $ 1,716 Research and development 3,541 2,582 6,828 4,797 Sales and marketing 2,305 1,086 4,334 2,714 General and administrative 5,701 4,044 11,048 37,528 Total stock-based compensation $ 12,820 $ 8,553 $ 24,565 $ 46,755 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Outstanding Average Remaining Aggregate Options Exercise Price Contractual Life Intrinsic Value (in thousands) (Years) (in thousands) Balance as of December 31, 2021 1,838 $ 66.05 6.0 $ 130,791 Granted 278 $ 135.01 Exercised (212 ) $ 42.72 Canceled (89 ) $ 111.97 Balance as of June 30, 2022 1,815 $ 77.08 6.2 $ 91,404 Vested and expected to vest - June 30, 2022 1,618 $ 71.75 5.9 $ 89,608 Exercisable - June 30, 2022 1,087 $ 49.76 4.4 $ 83,037 |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Weighted Average Grant Date Outstanding Fair Value RSUs Per Share (in thousands) Balance as of December 31, 2021 917 (1) $ 104.78 Granted 190 $ 137.19 Vested (160 ) $ 98.01 Canceled (83 ) $ 116.12 Balance as of June 30, 2022 864 (1) $ 111.89 Outstanding and expected to vest - June 30, 2022 749 $ 110.04 |
Share Repurchase Program [Table Text Block] | Announcement Date Authorized Dollar Value (in millions) February 12, 2018 $ 100.0 October 30, 2018 100.0 October 30, 2019 100.0 May 7, 2020 100.0 February 10, 2021 100.0 November 3, 2021 200.0 May 4, 2022 200.0 Total as of June 30, 2022 $ 900.0 |
Note 10 - Net Income Per Share
Note 10 - Net Income Per Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands, except per share data) (in thousands, except per share data) Numerator: Net income $ 26,596 $ 21,142 $ 52,006 $ 21,370 Denominator: Basic weighted average shares 38,738 39,099 38,864 39,154 Effect of potentially dilutive shares: Stock options 719 831 744 851 Restricted stock units 230 147 233 248 Employee stock purchase plan 2 — 3 — Diluted weighted average shares 39,689 40,077 39,844 40,253 Net income per share: Basic $ 0.69 $ 0.54 $ 1.34 $ 0.55 Diluted $ 0.67 $ 0.53 $ 1.31 $ 0.53 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) Stock options 688 675 645 524 Restricted stock units 88 153 44 96 Employee stock purchase plan — — 4 — Total anti-dilutive shares 776 828 693 620 |
Note 12 - Segment Information_2
Note 12 - Segment Information and Information About Geographic Area (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (in thousands) (in thousands) United States $ 71,608 $ 60,991 $ 139,084 $ 121,123 Foreign 48,285 38,711 94,229 75,335 Total revenues $ 119,893 $ 99,702 $ 233,313 $ 196,458 June 30, December 31, 2022 2021 (in thousands) United States $ 62,655 $ 66,440 India 19,270 20,401 Rest of world 9,356 12,029 Total $ 91,281 $ 98,870 |
Note 1 - Description of Busin_2
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details Textual) - Preferred Stock [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2018 | |
Investments, Total | $ 2,500 | |
Other than Temporary Impairment Losses, Investments, Total | $ 0 | |
Proceeds from Dividends Received | $ 0 |
Note 2 - Fair Value of Financ_3
Note 2 - Fair Value of Financial Instruments (Details Textual) Pure in Thousands, € in Millions, ₨ in Millions, £ in Millions, SFr in Millions, $ in Millions, $ in Millions | Jun. 30, 2022 USD ($) | Jun. 30, 2022 EUR (€) | Jun. 30, 2022 GBP (£) | Jun. 30, 2022 INR (₨) | Jun. 30, 2022 CAD ($) | Dec. 31, 2021 EUR (€) | Dec. 31, 2021 GBP (£) | Dec. 31, 2021 INR (₨) | Dec. 31, 2021 CAD ($) | Dec. 31, 2021 CHF (SFr) |
Marketable Securities In Unrealized Loss Positions, More Than 12 Months Qualitative Disclosure, Number Of Positions | 0 | 0 | 0 | 0 | 0 | |||||
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||||||||
Derivative, Notional Amount | € 29.4 | £ 9.1 | ₨ 3,211 | € 29.8 | £ 9.4 | ₨ 2,955.3 | ||||
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | ||||||||||
Derivative, Notional Amount | € 38.1 | £ 17.1 | ₨ 281.6 | $ 1.1 | € 34.5 | £ 11.6 | ₨ 74.9 | $ 2.5 | SFr 1 | |
Foreign Exchange Contracts for GBP and Euro [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||||||||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | $ 3.4 | |||||||||
Foreign Exchange Contracts for INR [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||||||||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | $ 1.1 |
Note 2 - Fair Value of Financ_4
Note 2 - Fair Value of Financial Instruments - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Cash and cash equivalents | $ 120,965 | $ 137,328 |
Cash and cash equivalents | 120,965 | 137,328 |
Cash and cash equivalents, unrealized loss | 0 | |
Short-term marketable securities, amortization cost | 300,050 | 268,027 |
Unrealized gains, short-term securities | 3 | 103 |
Short-term marketable securities, unrealized loss | (1,929) | (170) |
Short-term marketable securities | 298,124 | 267,960 |
Long-term marketable securities, amortization cost | 81,445 | 111,374 |
Unrealized gains, long-term securities | 3 | 178 |
Long-term marketable securities, unrealized loss | (1,326) | (354) |
Long-term marketable securities | 80,122 | 111,198 |
Cash and cash equivalents and marketable securities, amortization cost | 502,460 | 516,729 |
Unrealized gains, securities | 6 | 281 |
Unrealized loss, securities | (3,255) | (524) |
Cash and cash equivalents and short-term and long-term Marketable Securities, fair value | 499,211 | 516,486 |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Short-term marketable securities, amortization cost | 32,137 | 18,046 |
Unrealized gains, short-term securities | 0 | 0 |
Short-term marketable securities, unrealized loss | (37) | 0 |
Short-term marketable securities | 32,100 | 18,046 |
Corporate Debt Securities [Member] | ||
Short-term marketable securities, amortization cost | 38,525 | 28,869 |
Unrealized gains, short-term securities | 3 | 101 |
Short-term marketable securities, unrealized loss | (343) | (7) |
Short-term marketable securities | 38,185 | 28,963 |
Long-term marketable securities, amortization cost | 36,998 | 57,762 |
Unrealized gains, long-term securities | 0 | 160 |
Long-term marketable securities, unrealized loss | (991) | (182) |
Long-term marketable securities | 36,007 | 57,740 |
Asset-Backed Securities [Member] | ||
Short-term marketable securities, amortization cost | 5 | 3,952 |
Unrealized gains, short-term securities | 0 | 0 |
Short-term marketable securities, unrealized loss | 0 | 0 |
Short-term marketable securities | 5 | 3,952 |
Long-term marketable securities, amortization cost | 23,310 | 14,941 |
Unrealized gains, long-term securities | 3 | 6 |
Long-term marketable securities, unrealized loss | (170) | (36) |
Long-term marketable securities | 23,143 | 14,911 |
US Government Agencies Debt Securities [Member] | ||
Short-term marketable securities, amortization cost | 228,376 | 217,160 |
Unrealized gains, short-term securities | 0 | 2 |
Short-term marketable securities, unrealized loss | (1,545) | (163) |
Short-term marketable securities | 226,831 | 216,999 |
Long-term marketable securities, amortization cost | 21,137 | 37,664 |
Unrealized gains, long-term securities | 0 | 0 |
Long-term marketable securities, unrealized loss | (165) | (136) |
Long-term marketable securities | 20,972 | 37,528 |
Foreign Government Agencies [Member] | ||
Long-term marketable securities, amortization cost | 1,007 | 1,007 |
Unrealized gains, long-term securities | 0 | 12 |
Long-term marketable securities, unrealized loss | (4) | 0 |
Long-term marketable securities | 1,003 | 1,019 |
Cash [Member] | ||
Cash and cash equivalents | 84,920 | 61,220 |
Cash and cash equivalents | 84,920 | |
Money Market Funds [Member] | ||
Cash and cash equivalents | 35,046 | 75,258 |
Cash and cash equivalents | 35,046 | |
Commercial Paper [Member] | ||
Cash and cash equivalents | 999 | $ 850 |
Cash and cash equivalents | 999 | |
Cash and cash equivalents, unrealized loss | $ 0 |
Note 2 - Fair Value of Financ_5
Note 2 - Fair Value of Financial Instruments - Fair Value Hierarchy (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Money market funds | $ 35,046 | $ 75,258 |
Commercial paper | 33,099 | 18,896 |
Corporate bonds | 74,192 | 86,703 |
Asset-backed securities | 23,148 | 18,863 |
U.S. Treasury and government agencies | 247,803 | 254,527 |
Foreign government | 1,003 | 1,019 |
Total | 414,291 | 455,266 |
Fair Value, Inputs, Level 1 [Member] | ||
Money market funds | 35,046 | 75,258 |
Commercial paper | 0 | 0 |
Corporate bonds | 0 | 0 |
Asset-backed securities | 0 | 0 |
U.S. Treasury and government agencies | 0 | 0 |
Foreign government | 0 | 0 |
Total | 35,046 | 75,258 |
Fair Value, Inputs, Level 2 [Member] | ||
Money market funds | 0 | 0 |
Commercial paper | 33,099 | 18,896 |
Corporate bonds | 74,192 | 86,703 |
Asset-backed securities | 23,148 | 18,863 |
U.S. Treasury and government agencies | 247,803 | 254,527 |
Foreign government | 1,003 | 1,019 |
Total | $ 379,245 | $ 380,008 |
Note 2 - Fair Value of Financ_6
Note 2 - Fair Value of Financial Instruments - Summary of the Fair Value of Marketable Securities (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | $ 299,123 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 57,621 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 22,501 |
Debt Securities, Available-for-sale | 379,245 |
Commercial Paper [Member] | |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | 33,099 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 0 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 0 |
Debt Securities, Available-for-sale | 33,099 |
Corporate Bond Securities [Member] | |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | 38,185 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 26,411 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 9,596 |
Debt Securities, Available-for-sale | 74,192 |
Asset-Backed Securities [Member] | |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | 5 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 10,238 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 12,905 |
Debt Securities, Available-for-sale | 23,148 |
US Government Agencies Debt Securities [Member] | |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | 226,831 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 20,972 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 0 |
Debt Securities, Available-for-sale | 247,803 |
Foreign Government Agencies [Member] | |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | 1,003 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 0 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 0 |
Debt Securities, Available-for-sale | $ 1,003 |
Note 2 - Fair Value of Financ_7
Note 2 - Fair Value of Financial Instruments - Summary of Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Foreign currency forward contracts | $ 7,177 | $ 3,336 |
Foreign currency forward contracts | (1,276) | (388) |
Designated as Hedging Instrument [Member] | ||
Foreign currency forward contracts | 3,260 | 1,737 |
Foreign currency forward contracts | (1,150) | (181) |
Not Designated as Hedging Instrument [Member] | ||
Foreign currency forward contracts | 3,917 | 1,599 |
Foreign currency forward contracts | $ (126) | $ (207) |
Note 2 - Fair Value of Financ_8
Note 2 - Fair Value of Financial Instruments - Amounts Recognized In Statement of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net gains from non-designated forward contracts | $ 3,810 | $ (41) | $ 4,965 | $ 1,044 |
Other foreign currency transaction gains (losses) | (5,520) | 30 | (7,338) | (1,228) |
Total foreign exchange losses, net | (1,710) | (11) | (2,373) | (184) |
Other expenses | 0 | (69) | (47) | (140) |
Other expense, net | $ (1,710) | $ (80) | $ (2,420) | $ (324) |
Note 3 - Accumulated Other Co_3
Note 3 - Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Balance | $ 426,635 | $ 436,714 | $ 397,108 | $ 404,482 | $ 436,714 | $ 404,482 |
Other comprehensive income (loss), net of tax | 45 | (1,677) | (385) | 604 | (1,632) | 219 |
Balance | 396,838 | 426,635 | 392,995 | 397,108 | 396,838 | 392,995 |
Balance | 396,838 | 426,635 | 392,995 | 397,108 | 396,838 | 392,995 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||||
Balance | (2,313) | (185) | 835 | 1,224 | (185) | 1,224 |
Change in unrealized gains (losses) during the period | (933) | (2,070) | (273) | (501) | ||
Net gains reclassified into income during the period | 0 | 0 | 8 | 8 | ||
Income tax provision | 0 | (58) | 63 | 104 | ||
Other comprehensive income (loss), net of tax | (933) | (2,128) | (202) | (389) | ||
Balance | (3,246) | (2,313) | 633 | 835 | (3,246) | 633 |
Balance | (3,246) | (2,313) | 633 | 835 | (3,246) | 633 |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||||
Balance | 1,643 | 1,192 | (715) | (1,708) | 1,192 | (1,708) |
Change in unrealized gains (losses) during the period | 1,548 | 648 | (394) | 1,092 | ||
Net gains reclassified into income during the period | (244) | (60) | 152 | 192 | ||
Income tax provision | (326) | (137) | 59 | (291) | ||
Other comprehensive income (loss), net of tax | 978 | 451 | (183) | 993 | ||
Balance | 2,621 | 1,643 | (898) | (715) | 2,621 | (898) |
Balance | 2,621 | 1,643 | (898) | (715) | 2,621 | (898) |
AOCI Attributable to Parent [Member] | ||||||
Balance | (670) | 1,007 | 120 | (484) | 1,007 | (484) |
Change in unrealized gains (losses) during the period | 615 | (1,422) | (667) | 591 | ||
Net gains reclassified into income during the period | (244) | (60) | 160 | 200 | ||
Income tax provision | (326) | (195) | 122 | (187) | ||
Other comprehensive income (loss), net of tax | 45 | (1,677) | (385) | 604 | ||
Balance | (625) | (670) | (265) | 120 | (625) | (265) |
Balance | $ (625) | $ (670) | $ (265) | $ 120 | $ (625) | $ (265) |
Note 3 - Accumulated Other Co_4
Note 3 - Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified from AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Other income (expense), net | $ 1,710 | $ 80 | $ 2,420 | $ 324 |
Revenues | 119,893 | 99,702 | 233,313 | 196,458 |
Cost of revenues | 25,046 | 21,552 | 49,048 | 43,232 |
Research and development | 24,791 | 19,805 | 47,898 | 37,554 |
Sales and marketing | 23,730 | 17,770 | 43,872 | 35,759 |
General and administrative | 13,333 | 11,213 | 25,967 | 53,256 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||
Other income (expense), net | 0 | (8) | 0 | (16) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||
Revenues | 269 | (456) | 223 | (673) |
Cost of revenues | (6) | 61 | 17 | 66 |
Research and development | (16) | 204 | 52 | 221 |
Sales and marketing | (1) | 12 | 3 | 13 |
General and administrative | (2) | 27 | 9 | 29 |
Total | $ 244 | $ (152) | $ 304 | $ (344) |
Note 4 - Property and Equipme_3
Note 4 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Property, Plant and Equipment, Net, Total | $ 57,830 | $ 57,830 | $ 61,854 | ||
Depreciation, Depletion And Amortization, Excluding Intangible Asset Amortization | 6,900 | $ 6,900 | 14,000 | $ 14,200 | |
Scanner Appliances and Other Computer Equipment Subject To Subscription [Member] | |||||
Property, Plant and Equipment, Net, Total | 5,000 | 5,000 | 5,300 | ||
Scanner Appliances and Other Computer Equipment Not Placed In Service [Member] | |||||
Property, Plant and Equipment, Net, Total | $ 3,600 | $ 3,600 | $ 1,300 |
Note 4 - Property and Equipme_4
Note 4 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Property and equipment and finance lease | $ 240,777 | $ 231,697 |
Less: accumulated depreciation and amortization | (182,947) | (169,843) |
Property and equipment and finance lease, net | 57,830 | 61,854 |
Computer Equipment [Member] | ||
Property and equipment and finance lease | 170,945 | 161,809 |
Computer Software, Intangible Asset [Member] | ||
Property and equipment and finance lease | 25,805 | 25,807 |
Leasehold Improvements [Member] | ||
Property and equipment and finance lease | 21,009 | 21,092 |
Scanner Appliances [Member] | ||
Property and equipment and finance lease | 16,584 | 16,510 |
Furniture and Fixtures [Member] | ||
Property and equipment and finance lease | $ 6,434 | $ 6,479 |
Note 5 - Revenue From Contrac_3
Note 5 - Revenue From Contracts With Customers (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Contract with Customer, Liability, Revenue Recognized | $ 75,900 | $ 63,500 | $ 175,900 | $ 147,000 |
Amortization of Deferred Sales Commissions | 1,200 | 900 | 2,400 | 1,800 |
Capitalized Contract Cost, Impairment Loss | $ 0 | $ 0 | $ 0 | $ 0 |
Note 5 - Revenue From Contrac_4
Note 5 - Revenue From Contracts With Customers - Expected Revenue from All Remaining Performance Obligations (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
Remaining performance obligations | $ 270,161 |
Note 5 - Revenue From Contrac_5
Note 5 - Revenue From Contracts With Customers - Expected Revenue from All Remaining Performance Obligations 2 (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
Remaining performance obligations | $ 270,161 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | |
Remaining performance obligations, period (Year) | 6 months |
Remaining performance obligations | $ 81,069 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Remaining performance obligations, period (Year) | 1 year |
Remaining performance obligations | $ 126,104 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Remaining performance obligations, period (Year) | 1 year |
Remaining performance obligations | $ 54,405 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Remaining performance obligations, period (Year) | 1 year |
Remaining performance obligations | $ 7,507 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Remaining performance obligations, period (Year) | 1 year |
Remaining performance obligations | $ 828 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | |
Remaining performance obligations, period (Year) | 1 year |
Remaining performance obligations | $ 248 |
Note 5 - Revenue From Contrac_6
Note 5 - Revenue From Contracts With Customers - Revenue by Sales Channel (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenues | $ 119,893 | $ 99,702 | $ 233,313 | $ 196,458 |
Sales Channel, Directly to Consumer [Member] | ||||
Revenues | 70,176 | 58,782 | 136,628 | 116,734 |
Sales Channel, Through Intermediary [Member] | ||||
Revenues | $ 49,717 | $ 40,920 | $ 96,685 | $ 79,724 |
Note 5 - Revenue From Contrac_7
Note 5 - Revenue From Contracts With Customers - Capitalized Cost to Obtain Contracts, Current and Noncurrent (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current | $ 4,470 | $ 4,223 |
Noncurrent | $ 8,727 | $ 8,391 |
Note 6 - Intangible Assets, N_3
Note 6 - Intangible Assets, Net (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Amortization of Intangible Assets | $ 1.5 | $ 1.6 | $ 3.2 | $ 3.3 |
Note 6 - Intangible Assets, N_4
Note 6 - Intangible Assets, Net - Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Cost | $ 30,443 | $ 30,443 |
Amortization of intangible assets | (27,118) | (23,938) |
Net Book Value | 3,325 | 6,505 |
Intangible assets, net | 3,365 | 6,545 |
Intangible Assets Not Subject to Amortization [Member] | ||
Intangible assets not subject to amortization | $ 40 | $ 40 |
Developed Technology Rights [Member] | ||
Weighted Average Life (Year) | 4 years 6 months | 4 years 6 months |
Weighted Average Remaining Life (Year) | 6 months | 10 months 24 days |
Cost | $ 28,556 | $ 28,556 |
Amortization of intangible assets | (25,468) | (22,463) |
Net Book Value | $ 3,088 | $ 6,093 |
Patents [Member] | ||
Weighted Average Life (Year) | 14 years | 14 years |
Weighted Average Remaining Life (Year) | 2 years 2 months 12 days | 2 years 8 months 12 days |
Cost | $ 1,387 | $ 1,387 |
Amortization of intangible assets | (1,171) | (1,121) |
Net Book Value | $ 216 | $ 266 |
Noncompete Agreements [Member] | ||
Weighted Average Life (Year) | 2 years | 2 years |
Weighted Average Remaining Life (Year) | 1 month 6 days | 7 months 6 days |
Cost | $ 500 | $ 500 |
Amortization of intangible assets | (479) | (354) |
Net Book Value | $ 21 | $ 146 |
Note 6 - Intangible Assets, N_5
Note 6 - Intangible Assets, Net - Expected Amortization Expense in Future Periods (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
2022 (remaining six months) | $ 1,883 | |
2023 | 590 | |
2024 | 452 | |
2025 | 240 | |
2026 | 160 | |
Total expected future amortization expense | $ 3,325 | $ 6,505 |
Note 7 - Leases (Details Textua
Note 7 - Leases (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Operating Lease, Expense | $ 3,800 | $ 3,600 | $ 7,300 | $ 7,200 |
Note 7 - Leases - Supplemental
Note 7 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash payments included in the measurement of lease liabilities | $ 8,190 | $ 6,853 |
Lease liabilities arising from obtaining right-of-use assets | $ 2,486 | $ 1,179 |
Note 7 - Leases - Weighted Aver
Note 7 - Leases - Weighted Average Remaining Lease Term and Weighted Average Discount Rate (Details) | Jun. 30, 2022 | Dec. 31, 2021 |
Weighted average remaining lease term (Year) | 2 years 10 months 24 days | 3 years 3 months 18 days |
Weighted average discount rate | 4.90% | 4.80% |
Note 9 - Stockholders' Equity_3
Note 9 - Stockholders' Equity and Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 08, 2022 | Oct. 28, 2021 | Jun. 09, 2021 | Apr. 27, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Share-Based Payment Arrangement, Expense | $ 12,820 | $ 8,553 | $ 24,565 | $ 46,755 | |||||
Share-Based Payment Arrangement, Accelerated Cost | $ 27,300 | ||||||||
Stock Repurchased and Retired During Period, Shares (in shares) | 929,000 | 585,000 | |||||||
Stock Repurchased and Retired During Period, Value | $ 117,800 | $ 63,300 | |||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 354,000 | 354,000 | |||||||
Share-Based Payment Arrangement, Option [Member] | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | 19,700 | $ 19,700 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 9 months 18 days | ||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | 70,000 | $ 70,000 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 8 months 12 days | ||||||||
Share-Based Payment Arrangement, Expense | 1,100 | $ 1,900 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 190,000 | ||||||||
Restricted Stock Units (RSUs) [Member] | Performance Shares [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | ||||||||
Share-Based Compensation, Percentage Of Shares That Will Vest Upon Trigger | 100% | ||||||||
Performance-based Restricted Stock Units [Member] | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | 4,000 | $ 4,000 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 24 days | ||||||||
Performance-based Restricted Stock Units [Member] | Executive Officer [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 73,000 | ||||||||
Share-Based Compensation, Percentage Of Shares That Will Vest Upon Trigger | 100% | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||||||
Share-based Compensation Termination Period Trigger (Month) | 12 months | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 34,000 | ||||||||
Performance-based Restricted Stock Units [Member] | President and Chief Executive Officer [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 9,671 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||||||
ESPP Shares [Member] | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 200 | $ 200 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 month 6 days | ||||||||
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | Performance Shares, Tranche Three [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Target Percentage | 0% | ||||||||
Minimum [Member] | Performance-based Restricted Stock Units [Member] | President and Chief Executive Officer [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Target Percentage | 0% | ||||||||
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | Performance Shares, Tranche Three [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Target Percentage | 200% | ||||||||
Maximum [Member] | Performance-based Restricted Stock Units [Member] | President and Chief Executive Officer [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Target Percentage | 200% | ||||||||
The 2012 Equity Incentive Plan [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 3,072,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 3,089,000 | 3,089,000 | |||||||
The 2021 Employee Stock Purchase Plan [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 577,500 | 577,500 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 600,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Offering Period (Month) | 6 months | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85% | ||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | 22,500 | ||||||||
The 2021 Employee Stock Purchase Plan [Member] | Minimum [Member] | |||||||||
Employee Stock Purchase Plan, Percentage of Eligible Compensation Contributable | 1% | ||||||||
The 2021 Employee Stock Purchase Plan [Member] | Maximum [Member] | |||||||||
Employee Stock Purchase Plan, Percentage of Eligible Compensation Contributable | 15% |
Note 9 - Stockholders' Equity_4
Note 9 - Stockholders' Equity and Stock-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Stock-based compensation | $ 12,820 | $ 8,553 | $ 24,565 | $ 46,755 |
Cost of Sales [Member] | ||||
Stock-based compensation | 1,273 | 841 | 2,355 | 1,716 |
Research and Development Expense [Member] | ||||
Stock-based compensation | 3,541 | 2,582 | 6,828 | 4,797 |
Selling and Marketing Expense [Member] | ||||
Stock-based compensation | 2,305 | 1,086 | 4,334 | 2,714 |
General and Administrative Expense [Member] | ||||
Stock-based compensation | $ 5,701 | $ 4,044 | $ 11,048 | $ 37,528 |
Note 9 - Stockholders' Equity_5
Note 9 - Stockholders' Equity and Stock-based Compensation - Share-based Compensation and Stock Options Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | ||
Balance (in shares) | shares | 1,838 | ||
Weighted average exercise price, balance (in dollars per share) | $ / shares | $ 66.05 | ||
Weighted Average Remaining Contractual Life Balance (Year) | 6 years 2 months 12 days | 6 years | |
Aggregate intrinsic value | $ | $ 91,404 | $ 130,791 | |
Granted (in shares) | shares | 278 | ||
Weighted average exercise price, Granted (in dollars per share) | $ / shares | $ 135.01 | ||
Exercised (in shares) | shares | (212) | [1] | |
Weighted average exercise price, Exercised (in dollars per share) | $ / shares | $ 42.72 | ||
Canceled (in shares) | shares | (89) | ||
Weighted average exercise price, Canceled (in dollars per share) | $ / shares | $ 111.97 | ||
Balance (in shares) | shares | 1,815 | 1,838 | |
Weighted average exercise price, balance (in dollars per share) | $ / shares | $ 77.08 | $ 66.05 | |
Vested and expected to vest (in shares) | shares | 1,618 | ||
Weighted average exercise price, Vested and expected to vest (in dollars per share) | $ / shares | $ 71.75 | ||
Vested and Expected to vest, weighted average remaining contractual life (Year) | 5 years 10 months 24 days | ||
Vested and Expected to vest, aggregate intrinsic value | $ | $ 89,608 | ||
Exercisable (in shares) | shares | 1,087 | ||
Weighted average exercise price, Exercisable (in dollars per share) | $ / shares | $ 49.76 | ||
Exercisable, weighted average remaining contractual life (Year) | 4 years 4 months 24 days | ||
Exercisable, aggregate intrinsic value | $ | $ 83,037 | ||
[1]Included 348 thousand shares of PSOs. |
Note 9 - Stockholders' Equity_6
Note 9 - Stockholders' Equity and Stock-based Compensation - Share-based Compensation, Restricted Stock and Restricted Stock Units (Details) shares in Thousands | 6 Months Ended | |
Jun. 30, 2022 $ / shares shares | ||
Cancelled, weighted average grant date fair value (in dollars per share) | $ / shares | $ 116.12 | |
Expected to vest, number of shares (in shares) | shares | 749 | |
Expected to vest, weighted average grant date fair value (in dollars per share) | $ / shares | $ 110.04 | |
Restricted Stock Units (RSUs) [Member] | ||
Balance, number of shares (in shares) | shares | 917 | [1] |
Balance, weighted average grant date fair value (in dollars per share) | $ / shares | $ 104.78 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares | 190 | |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 137.19 | |
Vested, number of shares (in shares) | shares | (160) | |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 98.01 | |
Cancelled, number of shares (in shares) | shares | (83) | |
Balance, number of shares (in shares) | shares | 864 | [1] |
Balance, weighted average grant date fair value (in dollars per share) | $ / shares | $ 111.89 | |
[1]Includes 34 thousand PSUs granted to certain executive officers in 2021. |
Note 9 - Stockholders' Equity_7
Note 9 - Stockholders' Equity and Stock-based Compensation - Schedule of Repurchase Agreements (Details) - USD ($) $ in Billions | Jun. 30, 2022 | May 04, 2022 | Nov. 03, 2021 | Feb. 10, 2021 | May 07, 2020 | Oct. 30, 2019 | Oct. 30, 2018 | Feb. 12, 2018 |
Authorized Dollar Value | $ 0.9 | $ 0.1 | ||||||
Additional Authorized Dollar Value | $ 0.2 | $ 0.2 | $ 0.1 | $ 0.1 | $ 0.1 | $ 0.1 |
Note 10 - Net Income Per Shar_2
Note 10 - Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net income | $ 26,596 | $ 25,410 | $ 21,142 | $ 228 | $ 52,006 | $ 21,370 |
Basic weighted average shares (in shares) | 38,738 | 39,099 | 38,864 | 39,154 | ||
Stock options (in shares) | 719 | 831 | 744 | 851 | ||
Restricted stock units (in shares) | 230 | 147 | 233 | 248 | ||
Employee stock purchase plan (in shares) | 2 | 0 | 3 | 0 | ||
Diluted weighted average shares (in shares) | 39,689 | 40,077 | 39,844 | 40,253 | ||
Basic (in dollars per share) | $ 0.69 | $ 0.54 | $ 1.34 | $ 0.55 | ||
Diluted (in dollars per share) | $ 0.67 | $ 0.53 | $ 1.31 | $ 0.53 |
Note 10 - Net Income Per Shar_3
Note 10 - Net Income Per Share - Anti-dilutive Net Income Per Share (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Antidilutive securities (in shares) | 776 | 828 | 693 | 620 |
Share-Based Payment Arrangement, Option [Member] | ||||
Antidilutive securities (in shares) | 688 | 675 | 645 | 524 |
Restricted Stock Units (RSUs) [Member] | ||||
Antidilutive securities (in shares) | 88 | 153 | 44 | 96 |
Employee Stock Purchase Plan Shares [Member] | ||||
Antidilutive securities (in shares) | 0 | 0 | 4 | 0 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Income Tax Expense (Benefit), Total | $ 5,526 | $ 8,707 | $ 13,459 | $ 6,272 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 17.20% | 29.20% | 20.60% | 22.70% | |
Unrecognized Tax Benefits, Ending Balance | $ 10,100 | $ 10,100 | $ 9,700 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 5,100 | $ 5,100 | $ 4,900 |
Note 12 - Segment Information_3
Note 12 - Segment Information and Information About Geographic Area (Details Textual) | 6 Months Ended |
Jun. 30, 2022 | |
Number of Operating Segments | 1 |
Number of Reportable Segments | 1 |
Note 12 - Segment Information_4
Note 12 - Segment Information and Information About Geographic Area - Revenue and Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Revenues | $ 119,893 | $ 99,702 | $ 233,313 | $ 196,458 | |
Property and equipment, net and Operating leases - right of use asset | 91,281 | 91,281 | $ 98,870 | ||
UNITED STATES | |||||
Revenues | 71,608 | 60,991 | 139,084 | 121,123 | |
Property and equipment, net and Operating leases - right of use asset | 62,655 | 62,655 | 66,440 | ||
INDIA | |||||
Property and equipment, net and Operating leases - right of use asset | 19,270 | 19,270 | 20,401 | ||
Non-US [Member] | |||||
Revenues | 48,285 | $ 38,711 | 94,229 | $ 75,335 | |
Other Geographic Areas [Member] | |||||
Property and equipment, net and Operating leases - right of use asset | $ 9,356 | $ 9,356 | $ 12,029 |