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Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table reflects certain financial data for our reportable segment (in millions):

			Three Months Ended
			March 31, 2025						March 31, 2024
Total revenue			$	1,539.7					$	1,353.3
Less:
Cost of product revenue			149.9						182.8
Cost of service revenue			143.2						121.9
Research and development expense			198.6						173.0
Other sales and marketing expense (1)			439.7						412.6
Commission expense			103.0						88.5
General and administrative expense			57.8						54.4
Other segment items (2)			82.4						18.7
Provision for income taxes			96.5						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, 2025						March 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, 2025						March 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 From External Customers by Geographic Region

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
Revenue			March 31, 2025						March 31, 2024
Americas:
United States			$	455.4					$	407.1
Other Americas			174.4						149.9
Total Americas			629.8						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 by Geographic Region

Property and Equipment—net			March 31, 2025						December 31, 2024
Americas:
United States			$	993.5					$	993.5
Canada			215.8						216.8
Latin America			2.4						4.4
Total Americas			1,211.7						1,214.7
EMEA			129.3						73.3
APAC			62.8						61.5
Total property and equipment—net			$	1,403.8					$	1,349.5

Schedule of Distributor Concentration

The following distributors accounted for 10% or more of our revenue:

			Three Months Ended
			March 31, 2025						March 31, 2024
Distributor A			28		%				31		%
Distributor B			14		%				15		%
Distributor C			12		%				13		%

The following distributors accounted for 10% or more of net accounts receivable:

			March 31, 2025						December 31, 2024
Distributor A			28		%				31		%
Distributor B			11		%				14		%
Distributor C			13		%				10		%

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