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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Total revenue $ 256,564 $ 292,326 $ 765,448 $ 820,316
Cost of revenue:        
Total cost of revenue 146,594 162,642 427,017 466,911
Gross profit 109,970 129,684 338,431 353,405
Operating expenses:        
Research and development 26,395 24,093 77,843 71,996
Sales and marketing 16,808 16,465 51,483 46,146
General and administrative 19,854 17,446 52,842 48,519
Total operating expenses 63,057 58,004 182,168 166,661
Income from operations 46,913 71,680 156,263 186,744
Other income (expense):        
Interest income 6,560 4,580 18,126 12,824
Interest expense (1,333) (1,325) (4,017) (4,027)
Other, net 3,225 (1,260) 1,257 (4,348)
Total other income 8,452 1,995 15,366 4,449
Income before income taxes 55,365 73,675 171,629 191,193
Income tax provision 6,789 7,744 20,593 15,986
Net income $ 48,576 $ 65,931 $ 151,036 $ 175,207
Net income per share:        
Basic $ 1.49 $ 2.01 $ 4.63 $ 5.35
Diluted $ 1.49 $ 1.99 $ 4.61 $ 5.28
Shares used in computing net income per share:        
Basic weighted average shares of common stock 32,550 32,807 32,595 32,775
Diluted weighted average shares of common stock 32,675 33,159 32,780 33,208
Product        
Revenue:        
Total revenue $ 246,826 $ 283,367 $ 735,626 $ 795,047
Cost of revenue:        
Total cost of revenue 136,379 154,798 399,049 444,311
Services        
Revenue:        
Total revenue 9,738 8,959 29,822 25,269
Cost of revenue:        
Total cost of revenue $ 10,215 $ 7,844 $ 27,968 $ 22,600