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Segment Information (Tables)

6 Months Ended

Jun. 30, 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												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
Total revenue			$	1,630.0					$	1,434.3					$	3,169.7					$	2,787.6
Less:
Cost of product revenue			165.9						155.1						315.8						337.9
Cost of service revenue			149.0						119.9						292.2						241.8
Research and development expense			209.5						165.4						408.1						338.4
Other sales and marketing expense (1)			483.7						403.2						923.4						815.8
Commission expense			108.3						98.1						211.3						186.6
General and administrative expense			56.9						56.6						114.7						111.0
Other segment items (2)			60.5						20.3						142.9						39.0
Provision for income taxes			77.1						76.5						173.6						116.0
Net income			$	440.1					$	379.8					$	873.5					$	679.1

(1) Excludes commission expense.

(2) The following table presents other segment items (in millions):

			Three Months Ended												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
Gain on intellectual property matters			$	1.3					$	1.2					$	7.6					$	2.3
Interest income			45.0						38.3						89.3						70.5
Interest expense			(4.6)						(5.0)						(9.5)						(10.1)
Other income (expense)—net			18.9						(2.2)						45.0						(5.1)
Gain (loss) from equity method investments			(0.1)						(12.0)						10.5						(18.6)
Total other segment items			$	60.5					$	20.3					$	142.9					$	39.0

The following table presents other segment information (in millions):

			Three Months Ended												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
Significant non-cash items:
Stock‐based compensation expense			$	69.9					$	64.3					$	136.8					$	127.3
Depreciation and amortization expense			38.3						29.2						74.1						57.8
Total assets			$	10,641.4					$	8,052.9					$	10,641.4					$	8,052.9
Purchases of property and equipment			$	167.8					$	23.1					$	234.3					$	245.0

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												Six Months Ended
Revenue			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
Americas:
United States			$	473.0					$	435.7					$	928.4					$	842.8
Other Americas			185.8						159.6						360.2						309.5
Total Americas			658.8						595.3						1,288.6						1,152.3
Europe, Middle East and Africa (“EMEA”)			667.1						565.2						1,295.5						1,104.6
Asia Pacific (“APAC”)			304.1						273.8						585.6						530.7
Total revenue			$	1,630.0					$	1,434.3					$	3,169.7					$	2,787.6

Property and Equipment by Geographic Region

Property and Equipment—net			June 30, 2025						December 31, 2024
Americas:
United States			$	1,009.6					$	993.5
Canada			316.2						216.8
Latin America			4.1						4.4
Total Americas			1,329.9						1,214.7
EMEA			145.2						73.3
APAC			69.7						61.5
Total property and equipment—net			$	1,544.8					$	1,349.5

Schedule of Distributor Concentration

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

			Three Months Ended												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
Distributor A			27		%				30		%				27		%				29		%
Distributor B			15		%				16		%				15		%				15		%
Distributor C			12		%				14		%				12		%				13		%

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

			June 30, 2025						December 31, 2024
Distributor A			27		%				31		%
Distributor B			13		%				14		%
Distributor C			9		%				10		%

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