Segment and Geographical Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment and Geographical Information

Segment and Geographical Information

We operate as one reportable segment. The accounting policies of the reportable segment are the same as those described in the summary of significant accounting policies. The financial information reviewed by the CODM reflects quarterly and year-to-date operating results, with a primary focus on revenue, gross margin, operating margin and net income as reported on the consolidated statements of income. Consolidated financial information is used by the CODM to evaluate performance and make decisions regarding resource allocation and other strategic initiatives. This consolidated financial information is also what is used to establish and approve operating budgets and forecasts. The measure of segment assets is reported on the consolidated balance sheets in total. There was no change for each of the periods presented in the measurement methods used to determine reported segment profit and loss.

The CODM reviews the following significant segment expenses, which are presented separately on the Company’s consolidated statements of income: cost of product, cost of services, selling and marketing expenses, general and administrative expenses, and research and development expenses. Other segment items that are included in the calculation of the Company’s net income include other income (expense), net, which is further described in Note 3. Financial Statements Details and income taxes, which is further described in Note 8. Income Taxes. Other segment disclosures such as depreciation and amortization and stock-based compensation are disclosure in the Consolidated Statements of Cash Flows.

The following table represents revenue based on customers' shipping addresses (in thousands):

	Year Ended December 31,
	2024		2023		2022
Americas(1)	$	5,729,039	$	4,651,193	$	3,462,621
Europe, Middle East and Africa	713,175		670,960		529,800
Asia Pacific	560,932		538,015		388,889
Total revenue	$	7,003,146	$	5,860,168	$	4,381,310

(1) Includes $5,663.0 million, $4,541.5 million and $3,424.8 million revenue generated from the U.S. for the three years ended December 31, 2024, 2023 and 2022, respectively

Long-lived assets, excluding intercompany receivables, investments in subsidiaries, investments in privately-held companies and deferred tax assets, net by location are summarized as follows (in thousands):

	December 31,
	2024		2023
United States	$	83,520	$	79,728
International	15,325		21,852
Total	$	98,845	$	101,580