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Segment Information (Tables)

9 Months Ended

Sep. 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												Nine Months Ended
			September 30, 2025						September 30, 2024						September 30, 2025						September 30, 2024
Total revenue			$	1,724.9					$	1,508.1					$	4,894.6					$	4,295.7
Less:
Cost of product revenue			180.7						136.1						496.5						474.0
Cost of service revenue			151.0						127.3						443.2						369.1
Research and development expense			202.4						187.3						610.5						525.7
Other sales and marketing expense (1)			469.2						416.3						1,392.6						1,232.1
Commission expense			114.3						99.6						325.6						286.2
General and administrative expense			61.4						71.7						176.1						182.7
Other segment items (2)			48.7						151.3						191.6						190.3
Provision for income taxes			120.7						81.2						294.3						197.2
Net income			$	473.9					$	539.9					$	1,347.4					$	1,219.0

(1) Excludes commission expense.

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

			Three Months Ended												Nine Months Ended
			September 30, 2025						September 30, 2024						September 30, 2025						September 30, 2024
Gain on intellectual property matters			$	1.4					$	1.1					$	9.0					$	3.4
Interest income			40.7						42.4						130.0						112.9
Interest expense			(6.2)						(5.0)						(15.7)						(15.1)
Other income—net			13.0						118.1						58.0						113.0
Gain (loss) from equity method investments			(0.2)						(5.3)						10.3						(23.9)
Total other segment items			$	48.7					$	151.3					$	191.6					$	190.3

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

			Three Months Ended												Nine Months Ended
			September 30, 2025						September 30, 2024						September 30, 2025						September 30, 2024
Significant non-cash items:
Stock‐based compensation expense			$	71.8					$	65.9					$	207.0					$	192.1
Depreciation and amortization expense			38.4						29.8						112.5						87.6
Total assets			$	9,361.3					$	8,852.0					$	9,361.3					$	8,852.0
Purchases of property and equipment			$	87.7					$	36.3					$	322.0					$	281.3

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												Nine Months Ended
Revenue			September 30, 2025						September 30, 2024						September 30, 2025						September 30, 2024
Americas:
United States			$	486.6					$	455.1					$	1,415.0					$	1,297.9
Other Americas			193.9						168.9						554.1						478.4
Total Americas			680.5						624.0						1,969.1						1,776.3
Europe, Middle East and Africa (“EMEA”)			713.7						599.3						2,009.2						1,703.9
Asia Pacific (“APAC”)			330.7						284.8						916.3						815.5
Total revenue			$	1,724.9					$	1,508.1					$	4,894.6					$	4,295.7

Property and Equipment by Geographic Region

Property and Equipment—net			September 30, 2025						December 31, 2024
Americas:
United States			$	996.2					$	993.5
Canada			334.3						216.8
Latin America			5.3						4.4
Total Americas			1,335.8						1,214.7
EMEA			199.7						73.3
APAC			69.7						61.5
Total property and equipment—net			$	1,605.2					$	1,349.5

Schedule of Distributor Concentration

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

			Three Months Ended												Nine Months Ended
			September 30, 2025						September 30, 2024						September 30, 2025						September 30, 2024
Distributor A			27		%				27		%				27		%				29		%
Distributor B			14		%				15		%				14		%				15		%
Distributor C			12		%				12		%				12		%				13		%

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

			September 30, 2025						December 31, 2024
Distributor A			25		%				31		%
Distributor B			11		%				14		%
Distributor C			12		%				10		%

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