v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Operating segments are determined based on the financial information that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) to allocate resources and assess performance. The Company’s CODM is our Chief Executive Officer, who reviews financial information presented on a consolidated basis, accompanied by information about revenue by geographic region for purposes of allocating resources and evaluating financial performance. We have one operating and reportable segment.
The following table reflects certain financial data for our reportable segment (in millions):
 Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Total revenue$2,047.9 $1,630.0 $3,897.5 $3,169.7 
Less:
Cost of product revenue233.8 165.9 442.1 315.8 
Cost of service revenue170.9 149.0 327.1 292.2 
Research and development expenses
225.0 209.5 439.0 408.1 
Adjusted sales and marketing expenses (1)
537.8 483.7 1,052.6 923.4 
Commission expense131.3 108.3 252.8 211.3 
General and administrative expenses
61.1 56.9 117.3 114.7 
Provision for income taxes115.0 77.1 237.0 173.6 
Add: Other segment items (2)
33.3 60.5 111.2 142.9 
Net income
$606.3 $440.1 $1,140.8 $873.5 
(1) Excludes commission expense.
(2) Includes gain on intellectual property matters, interest income, interest expense, other income—net and gain (loss) from equity method investments.

Revenue by geographic region is based on the billing address of our customers. The following tables set forth revenue and property and equipment—net by geographic region (in millions):
Three Months EndedSix Months Ended
RevenueJune 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
Americas:
United States$579.7 $473.0 $1,106.2 $928.4 
Other Americas228.5 185.8 441.8 360.2 
Total Americas808.2 658.8 1,548.0 1,288.6 
Europe, Middle East and Africa (“EMEA”)871.7 667.1 1,656.5 1,295.5 
Asia Pacific (“APAC”)368.0 304.1 693.0 585.6 
Total revenue$2,047.9 $1,630.0 $3,897.5 $3,169.7 

Property and Equipment—net
June 30,
2026		December 31,
2025
Americas:
United States$1,088.9 $1,000.8 
Canada322.4 329.2 
Latin America4.1 4.9 
Total Americas1,415.4 1,334.9 
EMEA211.7 211.3 
APAC72.4 72.8 
Total property and equipment—net$1,699.5 $1,619.0 
The following distributor customers accounted for 10% or more of our revenue:
 Three Months EndedSix Months Ended
June 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
Distributor A27 %27 %28 %27 %
Distributor B15 %15 %15 %15 %
Distributor C11 %12 %12 %12 %

The following distributor customers accounted for 10% or more of net accounts receivable:
June 30,
2026		December 31, 2025
Distributor A26 %32 %
Distributor B13 %12 %
Distributor C**
* Represents less than 10%