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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenue $ 634.5 $ 622.5 $ 1,265.8 $ 1,233.6
Cost of revenue [1],[2] 107.0 120.1 212.8 236.9
Gross profit 527.5 502.4 1,053.0 996.7
Operating expenses:        
Research and development [1],[2] 227.1 262.8 446.2 498.0
Sales and marketing [1],[2] 112.5 120.9 221.3 240.1
General and administrative [1],[2] 60.9 60.0 115.0 115.8
Net loss on real estate assets [3] 0.0 2.2 0.0 2.2
Total operating expenses 400.5 445.9 782.5 856.1
Income from operations 127.0 56.5 270.5 140.6
Interest income, net 4.7 3.7 12.0 7.6
Other income (loss), net 1.9 (1.2) 2.2 (1.6)
Income before income taxes 133.6 59.0 284.7 146.6
Provision for income taxes (23.1) (15.8) (41.9) (34.4)
Net income $ 110.5 $ 43.2 $ 242.8 $ 112.2
Basic net income per share (in dollars per share) $ 0.34 $ 0.13 $ 0.74 $ 0.33
Diluted net income per share (in dollars per share) $ 0.34 $ 0.13 $ 0.73 $ 0.32
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares) 322.4 341.4 328.6 344.2
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares) 323.7 343.8 332.4 346.8
[1] Includes expenses related to the Company's reduction in workforce such as severance, benefits and other related items during the three and six months ended June 30, 2023.
[2] Includes stock-based compensation as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Cost of revenue$6.0 $6.4 $11.2 $11.8 
Research and development(4)
64.2 67.4 119.6 120.3 
Sales and marketing6.2 6.3 11.3 11.8 
General and administrative14.1 15.2 26.4 27.4 
Total stock-based compensation$90.5 $95.3 $168.5 $171.3 
[3] Includes impairment charges related to real estate assets as a result of the Company's Virtual First work model.