v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Total revenue $ 1,216,585 $ 1,109,457 $ 2,357,405 $ 2,107,884
Cost of revenue:        
Cost of revenue from reportable segments 437,498 414,725 855,579 789,773
Gross profit 779,087 694,732 1,501,826 1,318,111
Expenses:        
Sales and marketing 171,277 161,107 346,527 317,330
General and administrative 116,815 98,681 235,930 190,242
Research and development 65,429 61,898 131,217 120,959
Total operating expenses 353,521 321,686 713,674 628,531
Income from operations 425,566 373,046 788,152 689,580
Non-operating income (expense):        
Interest expense (10,182) (11,321) (17,923) (18,987)
Interest income 606 627 1,203 1,843
Gain (loss) on equity investment 1,234 0 1,234 0
Income before provision for income taxes 417,224 362,352 772,666 672,436
Provision for income taxes 78,812 68,363 155,808 135,770
Net income $ 338,412 $ 293,989 $ 616,858 $ 536,666
Earnings per Share:        
Basic (in USD per share) $ 4.29 $ 3.66 $ 7.78 $ 6.64
Diluted (in USD per share) $ 4.27 $ 3.63 $ 7.74 $ 6.59
Weighted Average Shares Outstanding:        
Basic (in shares) 78,954 80,413 79,299 80,864
Diluted (in shares) 79,312 80,994 79,742 81,465
Product revenue        
Revenue:        
Total revenue $ 718,626 $ 657,561 $ 1,384,750 $ 1,230,612
Cost of revenue:        
Cost of revenue from reportable segments 204,195 205,146 398,623 380,678
Service revenue        
Revenue:        
Total revenue 497,959 451,896 972,655 877,272
Cost of revenue:        
Cost of revenue from reportable segments $ 233,303 $ 209,579 $ 456,956 $ 409,095