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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Revenue $ 634.4 $ 638.8 $ 1,884.8 $ 1,904.6
Cost of revenue [1],[2] 128.3 111.5 368.7 324.3
Gross profit 506.1 527.3 1,516.1 1,580.3
Operating expenses:        
Research and development [1],[2] 182.3 225.7 545.1 671.9
Sales and marketing [1],[2] 91.5 110.5 271.3 331.8
General and administrative [1],[2] 57.6 63.3 170.2 178.3
Net loss on real estate assets [3] 0.0 0.0 2.6 0.0
Total operating expenses 331.4 399.5 989.2 1,182.0
Income from operations 174.7 127.8 526.9 398.3
Interest (expense) income, net (20.3) 3.8 (53.5) 15.8
Other income, net 2.8 1.1 1.1 3.3
Income before income taxes 157.2 132.7 474.5 417.4
Provision for income taxes (33.4) (26.0) (74.8) (67.9)
Net income $ 123.8 $ 106.7 $ 399.7 $ 349.5
Basic net income per share (in dollars per share) $ 0.47 $ 0.34 $ 1.46 $ 1.08
Diluted net income per share (in dollars per share) $ 0.47 $ 0.34 $ 1.43 $ 1.07
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares) 261.1 314.5 274.4 323.9
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares) 265.1 316.4 279.1 327.1
[1] Includes expenses recognized during the three and nine months ended September 30, 2025, related to the Company's reduction in workforce in the fourth quarter of 2024, such as severance, benefits and other related items. See Note 1, "Description of the Business and Summary of Significant Accounting Policies - Reduction in Workforce" for additional information.
[2] Includes stock-based compensation as follows:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2025202420252024
Cost of revenue$5.1 $5.8 $15.6 $17.0 
Research and development55.9 66.7 156.4 186.3 
Sales and marketing5.1 6.1 15.8 17.4 
General and administrative12.5 13.7 35.6 40.1 
Total stock-based compensation$78.6 $92.3 $223.4 $260.8 
[3] Includes impairment charges related to real estate assets as a result of our Virtual First work model.