v3.26.1
Segment and Related Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment and Related Information Segment and Related Information
Reportable segments are determined based on the Company’s management approach. The management approach, as defined by FASB ASC 280 “Segment Reporting,” is based on the way that the Chief Operating Decision Maker (“CODM”) organizes the segments within an enterprise for making decisions about resources to be allocated and assessing their performance. Our CODM, for purposes of FASB ASC 280, is our chief executive officer.
We report our results in two reportable segments. Our reportable segments are organized on the basis of a combination of the products and services they deliver to clients and the function that the public sector client performs. Operating segments that have met the aggregation criteria have been combined into our two reportable segments. The Enterprise Software (“ES”) reportable segment provides public sector entities with software systems and services to meet their information technology and automation needs for mission-critical “back-office” functions such as: public administration solutions, courts and public safety solutions, education solutions, and property and recording solutions. The Platform Technologies (“PT”) reportable segment provides public sector entities with platform and transformative solutions including digital solutions, payment processing, streamlined data processing, and improved operations and workflows.
The CODM uses segment operating income or loss to assess performance and to allocate resources (including employees, property, and financial or capital resources) for each segment, predominantly in the annual budget and forecasting process. During the fiscal periods presented, we had no significant transactions between reportable segments. Corporate unallocated amounts are comprised of non-cash amortization of intangible assets associated with acquisitions, depreciation associated with unallocated property and equipment assets, compensation costs for the executive management team and certain shared services staff such as internal infrastructure costs and share-based compensation expense for the entire company. Corporate unallocated amounts also include incidental revenues and expenses related to a company-wide user conference and rental income.
For the three months ended March 31, 2026Enterprise
Software		Platform TechnologiesTotals
Revenues   
Subscriptions:
SaaS$200,132 $22,224 
Transaction-based fees95,039 112,350 
Maintenance103,327 5,547 
Professional services53,258 7,549 
Other revenues12,997 393 
Total segment revenues464,753 148,063 612,816 
Less:
Cost of revenues192,863 103,341 
Sales and marketing expense25,376 4,907 
General and administrative expense11,520 18,014 
Research and development expense48,734 4,076 
Segment operating income
$186,260 $17,725 $203,985 
For the three months ended March 31, 2025Enterprise
Software		Platform TechnologiesTotals
Revenues
Subscriptions:
SaaS$158,741 $21,339 
Transaction-based fees69,839 125,070 
Maintenance106,979 5,822 
Professional services54,593 9,457 
Other revenues12,594 41 
Total segment revenues402,746 161,729 564,475 
Less:
Cost of revenues169,287 108,993 
Sales and marketing expense25,267 4,731 
General and administrative expense11,592 13,401 
Research and development expense37,680 4,318 
Segment operating income
$158,920 $30,286 $189,206 
Three Months Ended March 31,
Reconciliation of reportable segment operating income to the Company's consolidated totals:20262025
Total segment operating income$203,985 $189,206 
Corporate unallocated:
Total revenues687 690 
Cost of revenues(20,865)(19,804)
Sales and marketing expense(8,514)(6,475)
General and administrative expense(54,431)(54,459)
Research and development expense(6,917)(5,846)
Amortization of other intangibles(14,133)(14,139)
Interest expense(1,066)(1,246)
Other income, net7,676 7,363 
Income before income taxes$106,422 $95,290 
The following table presents reconciliations of segment revenues from external customers and other segment information to the Company’s consolidated totals:
Three Months Ended March 31,
Revenues:20262025
ES$464,753 $402,746 
PT148,063 161,729 
Corporate unallocated687 690 
Total consolidated$613,503 $565,165 
Depreciation and amortization expense:
ES$1,879 $973 
PT9,481 4,341 
Corporate unallocated27,589 29,307 
Total consolidated$38,949 $34,621 
Software development expenditures:
ES$— $1,549 
PT1,260 3,991 
Corporate — 10 
Total consolidated$1,260 $5,550 
Capital expenditures:
ES$804 $730 
PT441 939 
Corporate 1,992 666 
Total consolidated$3,237 $2,335 
Segment assets:March 31, 2026December 31, 2025
ES$461,269 $534,864 
PT386,632 416,998 
Corporate
3,950,718 4,687,046 
Total consolidated$4,798,619 $5,638,908 
Segment assets primarily consist of net accounts receivable, prepaid expenses and other current assets, and net property and equipment and software development costs, net. Corporate assets primarily consist of cash and investments; prepaid insurance; goodwill and intangibles associated with acquisitions; deferred income taxes; software development costs, net; and net property and equipment mainly related to unallocated information and technology assets. Certain depreciation and amortization expense for the prior period has been reclassified to corporate unallocated to be consistent with the current year presentation that better aligns with the classification of certain assets on the condensed consolidated balance sheets as corporate