Revenue and profitability metrics
- Revenue: $603.1 million in QQ2 2024, YoY +11.23%, QoQ +9.61% (four-quarter data shows consistent trajectory through Q2 2024 vs prior periods). Gross Profit: $482.6 million; Gross Margin: ~80.0% (0.8002). Operating Income: $179.8 million; Operating Margin: 29.8%. EBITDA: $214.5 million; EBITDAR: 35.57%.
- Net Income: $114.4 million; Net Margin: 18.98%. EPS: $0.96 (diluted $0.95). Weighted average shares: ~119.59 million.
- Interest expense: $31.6 million; Depreciation & amortization: $34.7 million; R&D: $107.0 million; SG&A: $195.7 million.
Cash flow and liquidity
- Net cash provided by operating activities: $250.7 million; Free cash flow: $247.1 million.
- Cash and cash equivalents: $249.0 million; Net debt: $1.94 billion; Total debt: $2.19 billion.
- Cash conversion metrics show solid operating cash flow generation relative to earnings, supported by stock-based compensation (~$54.2 million) and working capital movements (positive change in working capital: $45.7 million).
Balance sheet and leverage
- Total assets: $6.21 billion; Goodwill: $3.45 billion; Intangibles: $0.93 billion.
- Total liabilities: ~$3.26 billion; Long-term debt: $1.652 billion; Total debt: $2.190 billion; Equity: $2.943 billion.
- Leverage indicators show a debt-to-capitalization of ~42.7% and a debt-to-equity ratio of ~0.74; Interest coverage ~5.7x.
Efficiency and valuation
- Receivables turnover and cash conversion cycle indicate a longer collection and working-capital footprint (DSO ~105 days; CCC ~89 days).
- Valuation metrics imply a premium software multiple: P/E ~33.7x, EV/EBITDA ~82.0x, P/S ~25.6x, P/B ~5.25x. These reflect a high-growth software franchise with a mature cash-generating engine, balanced by leverage risk.