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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Total revenue $ 975,543 $ 915,527 $ 2,943,216 $ 2,759,352
Cost of Revenue:        
Total cost of revenue 379,505 367,545 1,134,949 1,095,549
Gross profit 596,038 547,982 1,808,267 1,663,803
Expenses:        
Sales and marketing 146,281 135,698 438,399 424,034
General and administrative 91,887 89,034 341,154 248,804
Research and development 53,978 47,967 162,063 139,139
Income from operations 303,892 275,283 866,651 851,826
Interest expense (7,697) (8,647) (23,707) (32,316)
Interest income 2,714 1,255 10,500 1,998
Income before provision for income taxes 298,909 267,891 853,444 821,508
Provision for income taxes 66,068 55,660 181,726 170,987
Net income $ 232,841 $ 212,231 $ 671,718 $ 650,521
Earnings per Share:        
Basic (in USD per share) $ 2.83 $ 2.55 $ 8.12 $ 7.83
Diluted (in USD per share) $ 2.80 $ 2.53 $ 8.05 $ 7.75
Weighted Average Shares Outstanding:        
Basic (in shares) 82,304 83,097 82,675 83,058
Diluted (in shares) 83,056 83,993 83,478 83,990
Product revenue        
Revenue:        
Total revenue $ 567,987 $ 521,489 $ 1,688,308 $ 1,568,111
Cost of Revenue:        
Total cost of revenue 176,271 178,527 533,683 532,136
Service revenue        
Revenue:        
Total revenue 407,556 394,038 1,254,908 1,191,241
Cost of Revenue:        
Total cost of revenue $ 203,234 $ 189,018 $ 601,266 $ 563,413