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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Our chief operating decision maker is our chief executive officer. Our chief executive officer 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 business activity, and there are no segment managers who are held accountable for operations, operating results and plans for levels or components below the consolidated unit level. Accordingly, we have determined that we have one operating segment, and therefore, one reportable segment.

The following table reflects certain financial data for our reportable segment (in millions):
 Three Months Ended
March 31, 2025March 31, 2024
Total revenue$1,539.7 $1,353.3 
Less:
Cost of product revenue149.9 182.8 
Cost of service revenue143.2 121.9 
Research and development expense
198.6 173.0 
Other sales and marketing expense (1)
439.7 412.6 
Commission expense103.0 88.5 
General and administrative expense
57.8 54.4 
Other segment items (2)
82.4 18.7 
Provision for income taxes96.5 39.5 
Net income
$433.4 $299.3 
(1) Excludes commission expense.
(2) The following table presents other segment items (in millions):
Three Months Ended
March 31, 2025March 31, 2024
Gain on intellectual property matters
$6.3 $1.1 
Interest income
44.3 32.2 
Interest expense
(4.9)(5.1)
Other income (expense)—net
26.1 (2.9)
Gain (loss) from equity method investments
10.6 (6.6)
Total other segment items
$82.4 $18.7 

The following table presents other segment information (in millions):
 Three Months Ended
March 31, 2025March 31, 2024
Significant non-cash items:
Stock‐based compensation expense
$66.9 $63.0 
Depreciation and amortization expense
35.8 28.6 
Total assets
$10,407.0 $7,662.1 
Purchases of property and equipment$66.5 $221.9 

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 Ended
RevenueMarch 31,
2025		March 31,
2024
Americas:
United States$455.4 $407.1 
Other Americas174.4 149.9 
Total Americas629.8 557.0 
Europe, Middle East and Africa (“EMEA”)628.4 539.4 
Asia Pacific (“APAC”)281.5 256.9 
Total revenue$1,539.7 $1,353.3 

Property and Equipment—net
March 31,
2025		December 31,
2024
Americas:
United States$993.5 $993.5 
Canada215.8 216.8 
Latin America2.4 4.4 
Total Americas1,211.7 1,214.7 
EMEA129.3 73.3 
APAC62.8 61.5 
Total property and equipment—net$1,403.8 $1,349.5 
The following distributors accounted for 10% or more of our revenue:
 Three Months Ended
March 31,
2025		March 31,
2024
Distributor A28 %31 %
Distributor B14 %15 %
Distributor C12 %13 %

The following distributors accounted for 10% or more of net accounts receivable:
March 31,
2025		December 31,
2024
Distributor A28 %31 %
Distributor B11 %14 %
Distributor C13 %10 %