Equity Plans and Share Repurchase Program (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Share-based Compensation, Restricted Stock Units Award Activity |
The following table summarizes the activity and related information for RSUs for the periods presented below (in millions, except per share amounts): | | | | | | | | | | | | | | RSUs Outstanding | | | Number of Shares | | Weighted-Average Grant Date Fair Value per Share | Balance—December 31, 2025 | 7.6 | | | $ | 81.51 | | | Granted | 3.2 | | | 88.90 | | | Forfeited | (0.4) | | | 81.59 | | | Vested | (1.9) | | | 79.97 | | Balance—June 30, 2026 | 8.5 | | | $ | 84.61 | |
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| Schedule of Share-Based Payment Award, PSUs, Valuation Assumptions |
The following table summarizes the weighted-average assumptions relating to our PSUs: | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30,
2026 | | June 30,
2025 | | June 30,
2026 | | June 30,
2025 | | Expected term in years | 2.8 | | 2.7 | | 2.8 | | 2.7 | | Volatility | 42.4 | % | | 41.5 | % | | 42.4 | % | | 41.5 | % | | Risk-free interest rate | 3.5 | % | | 4.2 | % | | 3.5 | % | | 4.2 | % | | Dividend rate | — | % | | — | % | | — | % | | — | % |
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| Schedule of Share-based Compensation, Shares Withheld for Taxes |
The following summarizes the number and value of the shares withheld for employee taxes (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 30,
2026 | | June 30,
2025 | | June 30,
2026 | | June 30,
2025 | | Shares withheld for taxes | 0.3 | | | 0.2 | | | 0.7 | | | 0.7 | | | Amount withheld for taxes | $ | 22.5 | | | $ | 23.4 | | | $ | 59.0 | | | $ | 77.2 | |
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| Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions |
The following table summarizes the weighted-average assumptions relating to our employee stock options: | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30,
2026 | | June 30,
2025 | | June 30,
2026 | | June 30,
2025 | | Expected term in years | 4.6 | | 4.5 | | 4.6 | | 4.5 | | Volatility | 46.6 | % | | 41.4 | % | | 43.8 | % | | 41.6 | % | | Risk-free interest rate | 4.2 | % | | 4.1 | % | | 3.7 | % | | 4.2 | % | | Dividend rate | — | % | | — | % | | — | % | | — | % |
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| Schedule of Share-based Compensation, Stock Options, Activity |
The following table summarizes the stock option activity and related information for the periods presented below (in millions, except exercise prices and contractual life): | | | | | | | | | | | | | | | | | | | | | | | | | | Options Outstanding | | | Number
of Shares | | Weighted-
Average
Exercise
Price | | Weighted-
Average
Remaining
Contractual
Life (Years) | | Aggregate
Intrinsic
Value | Balance—December 31, 2025 | 7.4 | | | $ | 49.39 | | | 3.0 | | $ | 241.7 | | | Granted | 0.7 | | | 84.15 | | | | | | | Forfeited | (0.1) | | | 86.18 | | | | | | | Exercised | (1.9) | | | 33.27 | | | | | | Balance—June 30, 2026 | 6.1 | | | $ | 57.46 | | | | | | Options vested and expected to vest—June 30, 2026 | 6.1 | | | $ | 57.46 | | | 3.3 | | $ | 583.3 | | Options exercisable—June 30, 2026 | 4.3 | | | $ | 46.98 | | | 2.3 | | $ | 461.4 | |
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| Schedule of Share-based Compensation, Stock Options, Activity, Additional Information |
Additional information related to our stock options is summarized below (in millions, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 30,
2026 | | June 30,
2025 | | June 30,
2026 | | June 30,
2025 | | Weighted-average fair value per share granted | $ | 57.26 | | | $ | 41.05 | | | $ | 34.93 | | | $ | 43.83 | | | Intrinsic value of options exercised | $ | 91.8 | | | $ | 28.9 | | | $ | 139.6 | | | $ | 131.2 | | | Fair value of options vested | $ | 5.8 | | | $ | 5.5 | | | $ | 16.7 | | | $ | 15.0 | |
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| Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs |
Stock-based compensation expense, including stock-based compensation expense related to awards classified as liabilities, is included in costs and expenses (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30,
2026 | | June 30,
2025 | | June 30,
2026 | | June 30,
2025 | | Cost of product revenue | $ | 0.6 | | | $ | 0.5 | | | $ | 1.2 | | | $ | 1.0 | | | Cost of service revenue | 8.1 | | | 7.0 | | | 15.2 | | | 13.5 | | | Research and development | 26.9 | | | 25.1 | | | 52.0 | | | 48.1 | | | Sales and marketing | 36.7 | | | 29.7 | | | 68.6 | | | 56.2 | | | General and administrative | 8.5 | | | 7.6 | | | 17.0 | | | 18.0 | | | Total stock-based compensation expense | $ | 80.8 | | | $ | 69.9 | | | $ | 154.0 | | | $ | 136.8 | |
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| Schedule of Employee Service Share based Compensation Allocation of Recognized Period Costs by Award Type |
The following table summarizes stock-based compensation expense, including stock-based compensation expense related to awards classified as liabilities, by award type (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30,
2026 | | June 30,
2025 | | June 30,
2026 | | June 30,
2025 | | RSUs | $ | 70.2 | | | $ | 60.8 | | | $ | 133.3 | | | $ | 117.1 | | | Stock options | 6.5 | | | 6.8 | | | 13.1 | | | 13.4 | | | PSUs | 4.1 | | | 2.3 | | | 7.6 | | | 6.3 | | | Total stock-based compensation expense | $ | 80.8 | | | $ | 69.9 | | | $ | 154.0 | | | $ | 136.8 | |
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| Income Tax Benefit from Stock Option Plans |
Total income tax benefit associated with stock-based compensation that is recognized in the condensed consolidated statements of income is (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 30,
2026 | | June 30,
2025 | | June 30,
2026 | | June 30,
2025 | | Income tax benefit associated with stock-based compensation | $ | 17.7 | | | $ | 15.3 | | | $ | 33.7 | | | $ | 30.0 | |
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