v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenue $ 631.5 $ 625.7 $ 1,261.0 $ 1,250.4
Cost of revenue [1],[2] 125.0 123.7 253.1 240.4
Gross profit 506.5 502.0 1,007.9 1,010.0
Operating expenses:        
Research and development [1],[2] 188.1 184.4 372.3 362.8
Sales and marketing [1],[2] 89.8 87.8 176.7 179.8
General and administrative [1],[2] 63.8 58.8 121.3 112.6
Net loss on real estate assets 0.0 2.6 0.0 2.6
Total operating expenses 341.7 333.6 670.3 657.8
Income from operations 164.8 168.4 337.6 352.2
Interest expense, net (50.0) (18.6) (86.7) (33.2)
Other income (expense), net 2.9 (2.0) 8.2 (1.7)
Income before income taxes 117.7 147.8 259.1 317.3
Provision for income taxes (21.9) (22.2) (48.8) (41.4)
Net income $ 95.8 $ 125.6 $ 210.3 $ 275.9
Basic net income per share (in dollars per share) $ 0.43 $ 0.46 $ 0.91 $ 0.98
Diluted net income per share (in dollars per share) $ 0.42 $ 0.45 $ 0.91 $ 0.96
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares) 224.8 272.4 230.0 281.3
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares) 226.8 276.7 231.8 286.1
[1] Includes expenses related to the Company's reduction in workforce such as severance, benefits and other related items during the three months ended June 30, 2026 and three and six months ended June 30, 2025. The expenses during the three months ended June 30, 2026 were related to the reduction in workforce resulting from a strategic reorganization to unify the Company's product organization, which are included within research and development expense.
[2] Includes stock-based compensation as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Cost of revenue$4.5 $5.6 $8.7 $10.5 
Research and development52.1 53.8 102.1 100.5 
Sales and marketing5.8 5.7 10.5 10.7 
General and administrative14.9 12.6 27.1 23.1 
Total stock-based compensation$77.3 $77.7 $148.4 $144.8