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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Total revenue $ 1,003,578 $ 943,630 $ 1,967,673 $ 1,843,825
Cost of Revenue:        
Total cost of revenue 384,419 370,780 755,444 728,004
Gross profit 619,159 572,850 1,212,229 1,115,821
Expenses:        
Sales and marketing 142,665 140,532 292,118 288,336
General and administrative 157,243 89,669 249,267 159,770
Research and development 55,450 46,505 108,085 91,172
Income from operations 263,801 296,144 562,759 576,543
Interest expense (8,099) (10,542) (16,010) (23,669)
Interest income 3,354 327 7,786 743
Income before provision for income taxes 259,056 285,929 554,535 553,617
Provision for income taxes 55,758 61,693 115,658 115,327
Net income $ 203,298 $ 224,236 $ 438,877 $ 438,290
Earnings per Share:        
Basic (in USD per share) $ 2.46 $ 2.70 $ 5.30 $ 5.28
Diluted (in USD per share) $ 2.44 $ 2.67 $ 5.24 $ 5.22
Weighted Average Shares Outstanding:        
Basic (in shares) 82,630 83,086 82,863 83,039
Diluted (in shares) 83,393 83,983 83,684 83,980
Product revenue        
Revenue:        
Total revenue $ 577,272 $ 540,680 $ 1,120,321 $ 1,046,622
Cost of Revenue:        
Total cost of revenue 180,642 179,999 357,412 353,609
Service revenue        
Revenue:        
Total revenue 426,306 402,950 847,352 797,203
Cost of Revenue:        
Total cost of revenue $ 203,777 $ 190,781 $ 398,032 $ 374,395