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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Revenue $ 633.0 $ 591.0 $ 1,866.6 $ 1,726.1
Cost of revenue [1],[2] 119.6 109.7 356.5 328.4
Gross profit 513.4 481.3 1,510.1 1,397.7
Operating expenses        
Research and development [1],[2] 216.4 227.6 714.4 653.4
Sales and marketing [1],[2] 106.3 103.6 346.4 304.3
General and administrative [1],[2] 60.0 56.8 175.8 165.6
Impairment related to real estate assets [1],[2],[3] 0.0 4.0 2.2 12.7
Total operating expenses [1],[2] 382.7 392.0 1,238.8 1,136.0
Income from operations 130.7 89.3 271.3 261.7
Interest income (expense), net 5.0 1.7 12.6 (0.2)
Other (loss) income, net (0.2) 7.2 (1.8) 9.6
Income before income taxes 135.5 98.2 282.1 271.1
Provision for income taxes (21.4) (15.0) (55.8) (46.2)
Net income $ 114.1 $ 83.2 $ 226.3 $ 224.9
Basic net income per share (in dollars per share) $ 0.34 $ 0.23 $ 0.66 $ 0.62
Diluted net income per share (in dollars per share) $ 0.33 $ 0.23 $ 0.65 $ 0.61
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares) 339.2 358.1 342.5 364.2
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares) 346.0 360.1 345.9 366.5
[1] Includes expenses related to the Company's reduction in workforce such as severance, benefits and other related items during the three and nine months ended September 30, 2023.
[2] Includes stock-based compensation as follows:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2023202220232022
Cost of revenue$5.8 $6.4 $17.6 $18.8 
Research and development(4)
58.6 60.6 178.9 169.6 
Sales and marketing5.2 6.0 17.0 16.4 
General and administrative14.2 13.1 41.6 38.6 
[3] Includes impairment charges related to real estate assets as a result of changes in the corporate real estate market which has impacted the Company's subleasing strategy in conjunction with the Company's Virtual First model.