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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue $ 649.1 $ 488.5 $ 1,218.1 $ 930.2
Cost of revenue 196.9 157.6 356.8 292.5
Gross profit 452.2 330.9 861.3 637.7
Research and development expenses 73.4 53.9 133.0 104.1
Selling, general and administrative expenses 257.7 222.5 518.4 422.2
Operating income 121.1 54.5 209.9 111.5
Interest expense (19.6) (11.0) (28.8) (21.7)
Interest income 10.1 9.3 20.3 18.7
Loss on extinguishment of debt (84.4) 0.0 (123.9) 0.0
Other income (expense), net 1.3 (1.8) (0.9) (2.5)
Income before income taxes 28.4 51.1 76.5 106.0
Income tax (expense) benefit (5.9) 137.5 (18.6) 134.1
Net income $ 22.5 $ 188.6 $ 57.9 $ 240.1
Earnings per share:        
Basic (in dollars per share) $ 0.32 $ 2.69 $ 0.82 $ 3.43
Diluted (in dollars per share) $ 0.32 $ 2.59 $ 0.82 $ 3.32
Weighted-average number of common shares outstanding (in thousands):        
Basic (in shares) 70,389 70,062 70,330 70,010
Diluted (in shares) 70,652 73,802 70,641 73,771
Nonrelated Party        
Revenue $ 470.5 $ 341.2 $ 891.0 $ 671.1
Related Party        
Revenue $ 178.6 $ 147.3 $ 327.1 $ 259.1