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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Total revenue $ 273,970 $ 221,177 $ 527,990 $ 424,772
Cost of revenue:        
Total cost of revenue 154,267 121,996 304,268 235,824
Gross profit 119,703 99,181 223,722 188,948
Operating expenses:        
Research and development 24,130 18,731 47,903 35,704
Sales and marketing 15,537 12,703 29,681 23,994
General and administrative 16,328 13,602 31,073 26,180
Total operating expenses 55,995 45,036 108,657 85,878
Income from operations 63,708 54,145 115,065 103,070
Other income (expense):        
Interest income 4,307 352 8,243 447
Interest expense (1,349) (1,250) (2,702) (2,768)
Other, net (2,050) (5,051) (3,088) (6,669)
Total other income (expense) 908 (5,949) 2,453 (8,990)
Income before income taxes 64,616 48,196 117,518 94,080
Income tax provision 3,037 4,007 8,242 8,276
Net income $ 61,579 $ 44,189 $ 109,276 $ 85,804
Net income per share:        
Basic $ 1.88 $ 1.34 $ 3.34 $ 2.59
Diluted $ 1.86 $ 1.32 $ 3.29 $ 2.54
Shares used in computing net income per share:        
Basic weighted average shares of common stock 32,775 33,096 32,759 33,170
Diluted weighted average shares of common stock 33,189 33,562 33,237 33,770
Product        
Revenue:        
Total revenue $ 265,673 $ 213,926 $ 511,680 $ 410,458
Cost of revenue:        
Total cost of revenue 146,741 115,754 289,512 223,395
Services        
Revenue:        
Total revenue 8,297 7,251 16,310 14,314
Cost of revenue:        
Total cost of revenue $ 7,526 $ 6,242 $ 14,756 $ 12,429