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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Total revenue $ 256,512 $ 273,970 $ 508,883 $ 527,990
Cost of revenue:        
Total cost of revenue 144,103 154,267 280,423 304,268
Gross profit 112,409 119,703 228,460 223,722
Operating expenses:        
Research and development 25,786 24,130 51,448 47,903
Sales and marketing 17,230 15,537 34,675 29,681
General and administrative 16,583 16,328 32,988 31,073
Total operating expenses 59,599 55,995 119,111 108,657
Income from operations 52,810 63,708 109,349 115,065
Other income (expense):        
Interest income 6,051 4,307 11,566 8,243
Interest expense (1,339) (1,349) (2,684) (2,702)
Other, net (257) (2,050) (1,968) (3,088)
Total other income 4,455 908 6,914 2,453
Income before income taxes 57,265 64,616 116,263 117,518
Income tax provision 6,399 3,037 13,803 8,242
Net income $ 50,866 $ 61,579 $ 102,460 $ 109,276
Net income per share:        
Basic $ 1.56 $ 1.88 $ 3.14 $ 3.34
Diluted $ 1.55 $ 1.86 $ 3.12 $ 3.29
Shares used in computing net income per share:        
Basic weighted average shares of common stock 32,598 32,775 32,618 32,759
Diluted weighted average shares of common stock 32,771 33,189 32,848 33,237
Product        
Revenue:        
Total revenue $ 245,380 $ 265,673 $ 488,798 $ 511,680
Cost of revenue:        
Total cost of revenue 134,759 146,741 262,670 289,512
Services        
Revenue:        
Total revenue 11,132 8,297 20,085 16,310
Cost of revenue:        
Total cost of revenue $ 9,344 $ 7,526 $ 17,753 $ 14,756