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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Revenue $ 638.8 $ 633.0 $ 1,904.6 $ 1,866.6
Cost of revenue [1],[2] 111.5 119.6 324.3 356.5
Gross profit 527.3 513.4 1,580.3 1,510.1
Operating expenses:        
Research and development [1],[2] 225.7 216.4 671.9 714.4
Sales and marketing [1],[2] 110.5 106.3 331.8 346.4
General and administrative [1],[2] 63.3 60.0 178.3 175.8
Net loss on real estate assets [3] 0.0 0.0 0.0 2.2
Total operating expenses 399.5 382.7 1,182.0 1,238.8
Income from operations 127.8 130.7 398.3 271.3
Interest income, net 3.8 5.0 15.8 12.6
Other income (loss), net 1.1 (0.2) 3.3 (1.8)
Income before income taxes 132.7 135.5 417.4 282.1
Provision for income taxes (26.0) (21.4) (67.9) (55.8)
Net income $ 106.7 $ 114.1 $ 349.5 $ 226.3
Basic net income per share (in dollars per share) $ 0.34 $ 0.34 $ 1.08 $ 0.66
Diluted net income per share (in dollars per share) $ 0.34 $ 0.33 $ 1.07 $ 0.65
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares) 314.5 339.2 323.9 342.5
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares) 316.4 346.0 327.1 345.9
[1] Includes expenses related to the Company's 2023 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,
2024202320242023
Cost of revenue$5.8 $5.8 $17.0 $17.6 
Research and development(4)
66.7 58.6 186.3 178.9 
Sales and marketing6.1 5.2 17.4 17.0 
General and administrative13.7 14.2 40.1 41.6 
Total stock-based compensation$92.3 $83.8 $260.8 $255.1 
[3] Includes impairment charges related to real estate assets as a result of the Company's Virtual First work model.