v3.26.1
Financial Statements Details (Tables)
 6 Months Ended
Jun. 30, 2026
Balance Sheet Components [Abstract]  
Schedule of Inventories Inventories consist of the following (in millions):
June 30, 2026December 31, 2025
Raw materials $859.6 $611.2 
Finished goods(1)
1,675.7 1,635.9 
   Total inventories $2,535.3 $2,247.1 
(1) The balance includes evaluation inventory totaling $616.0 million and $403.7 million as of June 30, 2026 and December 31, 2025, respectively.
Schedule of Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following (in millions):
June 30, 2026December 31, 2025
Deferred cost of goods sold(1)
$1,621.9 $1,197.0 
Other prepaid expenses and deposits396.7 313.0 
Total prepaid expenses and other current assets$2,018.6 $1,510.0 
(1) The increase as of June 30, 2026 was driven by a corresponding increase in deferred product revenue.
Schedule of Property and Equipment, Net Property and equipment, net consists of the following (in millions):
June 30, 2026December 31, 2025
Land$47.3 $47.3 
Equipment and machinery 207.5 188.3 
Computer hardware and software 66.9 66.2 
Leasehold improvements
38.3 38.4 
Furniture and fixtures 3.7 3.7 
Construction-in-process 213.5 107.9 
    Property and equipment, gross 577.2 451.8 
Less: accumulated depreciation (264.7)(248.7)
    Property and equipment, net $312.5 $203.1 
Schedule of Contract Assets, Contract Liabilities and Deferred Revenue The following table summarizes the activity related to our contract liabilities (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Contract liabilities, beginning balance$273.7 $160.5 $250.1 $160.8 
Less: Revenue recognized from beginning balance(25.1)(14.1)(51.2)(31.1)
Add: Contract liabilities recognized, net29.8 41.7 79.5 58.4 
Contract liabilities, ending balance$278.4 $188.1 $278.4 $188.1 
The following table summarizes the activity related to our deferred revenue (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Deferred revenue, beginning balance
$6,198.7 $3,088.8 $5,372.4 $2,791.4 
Less: Revenue recognized from beginning balance(1,036.0)(337.4)(2,212.5)(735.8)
Add: Deferral of revenue in current period, excluding amounts recognized during the period1,703.2 1,310.3 3,706.0 2,006.1 
Deferred revenue, ending balance$6,865.9 $4,061.7 $6,865.9 $4,061.7 
Schedule of Other Income (Expense), Net Other income (expense), net consists of the following (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Interest income$122.4 $90.4 $231.5 $180.6 
Other income (expense), net3.9 3.6 8.4 9.6 
    Total$126.3 $94.0 $239.9 $190.2