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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue $ 292,326 $ 229,175 $ 820,316 $ 653,947
Cost of revenue:        
Total cost of revenue 162,642 125,854 466,911 361,678
Gross profit 129,684 103,321 353,405 292,269
Operating expenses:        
Research and development 24,093 20,563 71,996 56,267
Sales and marketing 16,465 14,573 46,146 38,567
General and administrative 17,446 14,983 48,519 41,163
Total operating expenses 58,004 50,119 166,661 135,997
Income from operations 71,680 53,202 186,744 156,272
Other income (expense):        
Interest income 4,580 1,111 12,824 1,558
Interest expense (1,325) (1,333) (4,027) (4,101)
Other, net (1,260) (7,971) (4,348) (14,640)
Total other income (expense) 1,995 (8,193) 4,449 (17,183)
Income before income taxes 73,675 45,009 191,193 139,089
Income tax provision 7,744 4,726 15,986 13,002
Net income $ 65,931 $ 40,283 $ 175,207 $ 126,087
Net income per share:        
Basic $ 2.01 $ 1.22 $ 5.35 $ 3.81
Diluted $ 1.99 $ 1.21 $ 5.28 $ 3.75
Shares used in computing net income per share:        
Basic weighted average shares of common stock 32,807 33,011 32,775 33,116
Diluted weighted average shares of common stock 33,159 33,389 33,208 33,638
Product        
Revenue:        
Total revenue $ 283,367 $ 221,540 $ 795,047 $ 631,998
Cost of revenue:        
Total cost of revenue 154,798 118,992 444,311 342,387
Services        
Revenue:        
Total revenue 8,959 7,635 25,269 21,949
Cost of revenue:        
Total cost of revenue $ 7,844 $ 6,862 $ 22,600 $ 19,291